SAN LEANDRO, Calif.--(BUSINESS WIRE)--#BatteryStorage--FreeWire Technologies, a leading U.S.-based provider of fully-integrated electric vehicle (EV) charging stations and power solutions, announced today that Tamara Mecham has been appointed Vice President of Human Resources and Talent. In this new role, Mecham will be responsible for leadership development, talent management, diversity and inclusion initiatives, and supporting the company’s overall mission and strategy during a period of accelerated growth and transformation. She will assume this role effective immediately.
“We are pleased to welcome Tamara to the FreeWire team. She brings a wealth of strategic, operational, and talent acquisition experience to this role, and will be instrumental in leading the planning and execution of our human resources initiatives to propel our company forward,” said FreeWire CEO and Founder Arcady Sosinov.
Prior to joining FreeWire, Mecham served as Head of Human Resources, Americas for Sartorius AG, a German biotechnology company, where she supported a team of 1,750+ full-time employees throughout North and South America. There she co-created a leadership development program to build a high-performance, accountability-based culture.
“FreeWire has done a phenomenal job attracting and developing remarkable talent,” Mecham said. “I look forward to championing even more investment in this people-first company and delivering an exceptional employee experience.”
FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In addition to its partnership with bp pulse, FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.
Mecham’s expertise and proven experience will be critical in spearheading FreeWire’s talent and recruiting practices to meet the demand for EV charging technology and advanced power solutions.
About FreeWire Technologies
FreeWire's turnkey power solutions deliver energy whenever and wherever it is needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure. Learn more at www.freewiretech.com and follow us @FreeWireTech.
To explore open opportunities at FreeWire, please visit the careers page. https://freewiretech.com/careers/
Media:
FreeWire Technologies
Cory Ziskind
ICR
646-277-1232
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HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) will host a conference call webcast on Thursday, Feb. 3, 2022, at 12:00 p.m. Eastern time to discuss fourth-quarter 2021 financial and operating results. The company’s financial and operating results will be released before the market opens on Feb. 3.
To access the webcast, visit ConocoPhillips’ Investor Relations site, www.conocophillips.com/investor, and click on the "Register" link in the Investor Presentations section. You should register at least 15 minutes prior to the start of the webcast. The event will be archived and available for replay later the same day. A transcript will be available on the Investor Relations site.
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About ConocoPhillips
Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 14 countries, $87 billion of total assets, and approximately 9,900 employees at Sept. 30, 2021. Production excluding Libya averaged 1,514 MBOED for the nine months ended Sept. 30, 2021, and proved reserves were 4.5 BBOE as of Dec. 31, 2020. For more information, go to www.conocophillips.com.
CAUTIONARY STATEMENT FOR THE PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This new release contains forward-looking statements as defined under the federal securities laws. Forward-looking statements relate to future events, plans and anticipated results of operations, business strategies, and other aspects of our operations or operating results. Words and phrases such as “anticipate," “estimate,” “believe,” “budget,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict," “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” and other similar words can be used to identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Where, in any forward-looking statement, the company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future performance and involve certain risks, uncertainties and other factors beyond our control. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in the forward-looking statements. Factors that could cause actual results or events to differ materially from what is presented include the impact of public health crises, including pandemics (such as COVID-19) and epidemics and any related company or government policies or actions; global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil and gas, including changes resulting from a public health crisis or from the imposition or lifting of crude oil production quotas or other actions that might be imposed by OPEC and other producing countries and the resulting company or third-party actions in response to such changes; changes in commodity prices, including a prolonged decline in these prices relative to historical or future expected levels; insufficient liquidity or other factors, such as those listed herein, that could impact our ability to repurchase shares and declare and pay dividends such that we suspend our share repurchase program and reduce, suspend, or totally eliminate dividend payments in the future, whether variable or fixed; changes in expected levels of oil and gas reserves or production; potential failures or delays in achieving expected reserve or production levels from existing and future oil and gas developments, including due to operating hazards, drilling risks or unsuccessful exploratory activities; unexpected cost increases or technical difficulties in constructing, maintaining or modifying company facilities; legislative and regulatory initiatives addressing global climate change or other environmental concerns; investment in and development of competing or alternative energy sources; disruptions or interruptions impacting the transportation for our oil and gas production; international monetary conditions and exchange rate fluctuations; changes in international trade relationships, including the imposition of trade restrictions or tariffs on any materials or products (such as aluminum and steel) used in the operation of our business; our ability to collect payments when due under our settlement agreement with PDVSA; our ability to collect payments from the government of Venezuela as ordered by the ICSID; our ability to liquidate the common stock issued to us by Cenovus Energy Inc. at prices we deem acceptable, or at all; our ability to complete any announced or any future dispositions or acquisitions on time, if at all; the possibility that regulatory approvals for any announced or any future dispositions or acquisitions will not be received on a timely basis, if at all, or that such approvals may require modification to the terms of the transactions or our remaining business; business disruptions during or following the acquisition of assets from Shell (the “Shell Acquisition”) or any other announced or any future dispositions or acquisitions, including the diversion of management time and attention; the ability to deploy net proceeds from our announced or any future dispositions in the manner and timeframe we anticipate, if at all; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation, including litigation related to our transaction with Concho Resources Inc. (Concho); the impact of competition and consolidation in the oil and gas industry; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; general domestic and international economic and political conditions; the ability to successfully integrate the assets from the Shell Acquisition or achieve the anticipated benefits from the transaction; the ability to successfully integrate the operations of Concho with our operations and achieve the anticipated benefits from the transaction; unanticipated difficulties or expenditures relating to the Shell Acquisition or the Concho transaction; changes in fiscal regime or tax, environmental and other laws applicable to our business; and disruptions resulting from extraordinary weather events, civil unrest, war, terrorism or a cyber attack; and other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, ConocoPhillips expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Dennis Nuss (media)
281-293-4733
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Investor Relations
281-293-5000
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Commission approves settlement, completing the final regulatory approval needed in plan to separate Exelon’s utility and competitive energy businesses
CHICAGO--(BUSINESS WIRE)--Exelon Corp. (Nasdaq: EXC) announced today that the New York State Public Service Commission has approved a unanimous settlement agreement that allows Exelon to move forward with its plan to separate into two companies in the first quarter of 2022. In approving the settlement, the Commission authorized the transfer of Exelon’s New York nuclear facilities to the new Constellation company, which will occur at separation. With this final regulatory approval completed, Exelon remains on track to separate its transmission and distribution utility business (Exelon), a leader in energy delivery serving more than 10 million customers, and its competitive retail energy and generation business (Constellation), the nation’s largest provider of clean energy.
“This final regulatory approval is an important milestone on our path to separating into two world-class energy companies,” said Chris Crane, president and CEO of Exelon. “As independent companies, the new Exelon and Constellation will have the strategic flexibility and financial strength to best serve their customers and invest in a clean-energy future. We continue to plan for the transition and look forward to completing the transaction in the first quarter of 2022.”
The Commission approved a unanimous settlement agreement that included the New York State Attorney General’s Office, Commission staff, the Alliance for a Green Economy, the Long Island Power Authority and Exelon. The Federal Energy Regulatory Commission signed off on the transaction in August and the Nuclear Regulatory Commission approved it in November.
Timing and Remaining Approvals
Closing of the transaction in the first quarter of 2022 is subject to final approval by the company’s Board of Directors and a Form 10 registration statement being declared effective by the Securities and Exchange Commission. Exelon shareholder approval is not required. There can be no assurance that any separation transaction will ultimately occur or, if one does occur, of its terms or timing.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
Emily Duncan
Investor Relations
312-394-2345
Paul Adams
Corporate Communications
410-470-4167
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SAN ANTONIO--(BUSINESS WIRE)--Howard Energy Partners (HEP) announced today that it has closed on a series of strategic financing transactions (the “Transactions”), including its inaugural senior unsecured notes offering and an extension of its $1 billion revolving credit facility. The company priced $400 million of 6.75% senior unsecured notes due 2027 (the “Securities”) at par. Pro forma for the Transactions, the company has over $600 million of available liquidity and a long-term structure to prudently access institutional debt capital.
The proceeds from the Transactions will, among other things, help finance the previously announced build-out of HEP’s major renewable diesel logistics facility in Port Arthur, Texas, which is underpinned by a long-term agreement with Diamond Green Diesel, a 50/50 joint venture between Valero Energy Corporation (NYSE: VLO) and Darling Ingredients Inc. (NYSE: DAR). The construction of HEP’s state-of-the-art renewable diesel logistics facility is underway and the facility is expected to be in-service in the fourth quarter of 2022.
“In a year where we achieved record-breaking operational and financial performance, the closing of these financing transactions marks another significant milestone for HEP as we continue to position the company for long-term growth and value creation,” said HEP Chairman and Chief Executive Officer Mike Howard. “As we look forward to 2022 and beyond, we will actively pursue opportunities to scale our platform of critical midstream infrastructure and low-carbon-intensity energy assets.”
RBC Capital Markets acted as lead left bookrunner on the unsecured notes offering and lead left arranger and administrative agent on the revolving credit facility. Vinson & Elkins LLP acted as counsel to HEP on the unsecured notes offering, and Sidley Austin LLP acted as counsel to HEP on the amended and restated revolving credit facility. Baker Botts L.L.P. acted as underwriters counsel on the unsecured notes offering, and Holland & Knight LLP acted as counsel to the administrative agent on the amended and restated revolving credit facility.
The Securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws. Unless so registered, the Securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. HEP offered and sold the Securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Securities or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Securities or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
About Howard Energy Partners
San Antonio-based Howard Midstream Energy Partners, LLC d/b/a Howard Energy Partners is an independent midstream energy company, owning and operating natural gas and crude oil pipelines, natural gas processing plants, refined product storage terminals, deep-water dock and rail facilities, fractionation facilities, hydrogen production facilities, and other related midstream assets in Texas, New Mexico, Oklahoma, Pennsylvania and Mexico. The company has corporate offices in San Antonio and Houston, Texas and Monterrey, Mexico. For more information on Howard Energy Partners and our mission to deliver positive energy, please visit our website at www.howardenergypartners.com.
Meggan Morrison
Redbird Communications Group
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Platform Integration to Drive Increased Efficiencies in Time-Consuming, Multi-Layered Sales Process for U.S. Solar Installers
SAN FRANCISCO--(BUSINESS WIRE)--OpenSolar, Inc., a software company keenly focused on empowering solar installers with the world’s most accurate and entirely free solar design and sales platform, and Mosaic, a leading financing platform for U.S. residential solar and energy-efficient home improvements, today announced a new platform integration partnership that builds on their shared mission to significantly drive solar adoption at scale. The two companies are recognized for driving efficiencies into the time-consuming, multi-layered process of selling solar – OpenSolar, through its free-to-use, end-to-end design and sales platform, and Mosaic through its broad range of easily accessible, instant-approval financing options. The integration between the two companies provides solar installers with the ability to offer their customers highly competitive financing options to purchase solar as part of the sales proposal. Instead of being forced to ask customers to use multiple applications and sign-ins, installers can instead present their customers with compelling finance options, enable them to apply for their deal of choice, and get approved without ever leaving the proposal. The integration is already proving to convert more leads to closed sales in less time.
“At OpenSolar, we recognize that solar installers are on the front lines of the world’s transition to clean energy, and we are determined to provide them with the most accurate, fastest, and streamlined capabilities to convert more leads into closed sales through our free-to-use design and sales platform,” said Andrew Birch, Co-Founder of OpenSolar. “Mosaic has been an industry leader for the past decade with their innovative financing options and equally innovative software app, and I’m excited to partner with them on our shared mission to make solar adoption faster, easier, and more accessible for all.”
“Mosaic easily integrates our financing options into the tools contractors use every day, which helps solar professionals seamlessly access the most competitive financing solutions in the market,” said Billy Parish, Founder and CEO of Mosaic. “Mosaic’s integration with OpenSolar’s end-to-end design and sales platform enables us to service more installers and in turn, more homeowners as they make the switch to clean energy.”
The partnership between OpenSolar and Mosaic follows significant achievements by both companies. In November, OpenSolar announced the findings of independent, third-party assessments that validate the unmatched accuracy of its solar design tool. OpenSolar also recently inked partnership deals with IronRidge, a leading solar hardware manufacturer, Sungage Financial, and Greenlancer, a permit design and engineering company. Since its launch in 2019, OpenSolar’s free-to-use design and sales platform has enabled solar installers in over 100 countries to convert more prospects into booked sales, while saving time and eliminating the costly licensing fees attached to other solar design and sales platforms. Mosaic announced in November that it surpassed $6 billion in loans funded. The announcement came just four months after the company surpassed $5 billion in loans and nine months since $4 billion in loans was announced.
About Mosaic
Mosaic makes financing solar, solar plus energy storage systems and other sustainable home improvements accessible and affordable for homeowners by providing a fast and easy way to apply for financing options. Customers are referred by approved solar installers and home improvement contractors, as well as other ecosystem partners, and can get a credit decision in minutes for no money down loans with fixed interest rates and multiple term options. Financing applied for and processed through the Mosaic platform is originated by Solar Mosaic, LLC or one of its lending/financing partners. For our network of thousands of solar installers and home improvement contractors, Mosaic provides a streamlined financing platform to drive sales growth. Since 2012, Mosaic has helped more than 180,000 households switch to sustainable home improvements with its financing products. For more information, visit www.joinmosaic.com.
About OpenSolar
OpenSolar launched in 2019 with a mission to scale solar globally by providing installers with innovative software technology and an equally innovative business offering – the world’s first entirely free-to-use design and sales platform. Solar installers can use OpenSolar’s end-to-end platform to build complete customer proposals, including the industry’s most accurately designed systems, an array of state-of-art hardware, on-demand customized permitting proposals, and a portfolio of competitive financing options. Instead of charging a licensing fee to utilize its software, OpenSolar provides its software free of charge and instead derives revenue from its various partner affiliates. By utilizing OpenSolar, installers can increase workflow efficiency, avoid costly software licensing fees, and invest more time and money into other areas of their businesses, confident they are using the very best design and sales tools available in the market, all for free. OpenSolar is based in Sydney, Australia, with remote offices in the U.S. For more information, visit www.opensolar.com.
OpenSolar
John Ordona
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Mosaic
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MINNEAPOLIS--(BUSINESS WIRE)--On Thursday, January 27, 2022, Xcel Energy (NASDAQ: XEL) will host a conference call to review fourth quarter and year end 2021 financial results. Earnings will be released prior to the opening of trading.
The call will begin at 9:00 a.m. Central Time. To participate in the conference call, please dial in at least 5-10 minutes prior to the scheduled start and follow the operator’s instructions. You will be asked for the conference ID number.
US Dial-In: 800-289-0720
International Dial-In: 400-120-9264
Conference ID: 4764710
The conference call will also be simultaneously broadcast and archived on our website, along with an MP3 download, at the following location:
http://www.xcelenergy.com
Under Company, select: Investors
If you are unable to participate in the live event, the call will be available for replay from 12:00 p.m. on January 27 through 12:00 p.m. on January 30, Central Time.
Replay Numbers
US Dial-In: 888-203-1112
International Dial-In: 719-457-0820
Replay Passcode: 4764710
Financial analysts may call:
Paul Johnson, Vice President - Treasurer & Investor Relations 612-215-4535
News media inquiries please call: Xcel Energy Media Relations 612-215-5300
Internet: www.xcelenergy.com
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Xcel Energy Media Relations
(612) 215-5300
www.xcelenergy.com
VANCOUVER, British Columbia--(BUSINESS WIRE)--#MOF--Svante Inc. announced today the successful scale-up of a new sorbent material used in carbon capture processes. This sorbent can capture up to 95% of carbon dioxide (CO2) emitted from industrial sources, such as cement and blue hydrogen plants, using rapid solid adsorption and low temperature steam.
By engineering the structure of the metal-organic framework (MOF) nano-material, Svante’s team of scientists, along with University of Calgary’s professor George Shimizu and his team of faculty and students, have been working collaboratively for four (4) years to develop and scale-up this novel sorbent material that acts as a sponge for adsorbing CO2. Results of the research were accepted to be published today in the international peer-reviewed journal, Science. These results demonstrated the very special characteristics of this sorbent together with its resistance to oxidation and water vapor, allowing CO2 to be captured at low cost using Svante’s proprietary structured adsorbent filter.
Solid sorbents are a step change for carbon capture but the challenge is to merge all of the desirable commercially viable features into a robust framework material with a low manufacturing cost. Calgary Framework 20 (CALF-20) is a metal-organic framework that addresses this challenge and captures CO2 with high capacity and selectivity over water. “For high performance CO2 capture and removal, steam stripping – where direct contact steam is used to flush CO2 out of the sorbent – has been a sort of holy grail in the field. It is seen as the most effective way to do it,” said Claude Letourneau, President & CEO of Svante Inc. “This MOF material, combined with our proprietary structured adsorption filter, is a game-changer. We have the technology to reduce the capital cost of CO2 capture. Now we need to scale up this technology and commercialize it to create a viable marketplace for CO2”.
Svante, in collaboration with BASF, have successfully scaled-up the CALF-20 MOF sorbent from laboratory to industrial size by using a simple low temperature process in accordance with green chemistry principles. Scalability and low cost of solid sorbent are imperative since the quantity of sorbent required for a typical cement flue gas carbon capture plant is in the range of 200 tonnes. Furthermore, over two thousand carbon capture plants need to be deployed by 2040 or equivalent to commission two world-class CO2 capture plants per week for the next 20 years. Up until now, large scale production of MOF materials at low cost had been a barrier for the gas separation industry.
In addition to scaling-up the MOF (CALF-20) manufacturing process, Svante has developed a high volume and low-cost roll-to-roll process for coating the sorbent onto a sheet laminate called “Sorbent on a Roll”. This laminate is then stacked into a high-performance filter with low pressure drop and high CO2 capacity.
About Svante
Svante offers companies in emissions-intensive industries a viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante’s technology is currently being deployed in the field at pilot plant-scale by industry leaders in the energy and cement manufacturing sectors. The CO2MENT Pilot Plant Project – a partnership between Lafarge (Holcim) and TotalEnergies. – is operating a 1 tonne per day (TPD) plant in Richmond, British Columbia, Canada that will re-inject captured CO2 into concrete, while the construction and commissioning of a 30 TPD demonstration plant was completed in 2019 at an industrial facility in Lloydminster, Saskatchewan, Canada. A 25 TPD demonstration plant is currently under design and construction at Chevron U.S.A. located near Bakersfield, California. In addition, several feasibility studies for commercial scale carbon capture projects ranging from 500 to 4,500 TPD are underway in North America and Europe.
Svante Inc. has selected Kiewit Engineering Group Inc. to provide engineering, procurement and construction (EPC) services for two US DOE funded carbon capture projects. On September 1, 2020, the United States Department of Energy’s National Energy Laboratory Technology (DOE-NETL) through Electricore awarded $1,500,000 in federal funding for cost-shared development to support the initial engineering analysis and advancement of the LH CO2MENT Colorado first-of-a-kind commercial project of up to 1.5 million tonnes per year of CO2; and $13,000,000 in federal funding for the cost-shared development to support the design, construction and operation of a second-of-a-kind engineering-scale carbon capture plant at Chevron’s Kern River oil field in the San Joaquin Valley, California. Both of these US DOE-NETL projects are using the novel CALF-20 MOF sorbent material.
Svante has attracted more than USD$195 million in investment since it was founded in 2007 including the recent CDN$25 million investment from the Government of Canada’s Strategic Innovation Fund. Svante is building scalable supply chain for active capture materials to address a broad carbon capture and removal solutions offering at Gigaton scale. Svante’s Board of Directors includes Nobel Laureate and former US Secretary of Energy, Steven Chu, and Chairman Steven Berkenfeld, former Head of Industrial & Cleantech Practice at Barclays Capital. To learn more about Svante’s technology, click here or visit Svante’s website www.svanteinc.com, LinkedIn or Twitter (@svantesolutions).
Svante Contact
Julia McKenna (media)
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+ 1 (778) 985 5722
LAHTI, Finland--(BUSINESS WIRE)--#EnvironmentTechnology--Oilon, the Finnish energy and environmental technology company, has signed a collaboration agreement with Trane®, a leading global provider of indoor comfort solutions and services and a brand of Trane Technologies.
As part of the agreement, Trane will offer in Europe the Trane Exergy Series heat pumps designed and manufactured in collaboration with Oilon. The Exergy Series units deliver heating capacity of up to 120 degrees Celsius and can replace oil and gas boilers in industrial process, buildings and district heating applications.
– "Hardly any companies have managed to develop environmentally friendly technologies capable of such high temperatures. Cooperation with one of the world's largest players in the industry will help us to promote this sustainable technology more and more widely," says Martti Kukkola, Chief Business Officer for Oilon's Industrial Heat Pumps and Chillers.
Heat pumps are indeed regarded as one of the most significant means of producing fossil-free energy in the process industry and energy companies.
– "The agreement is a great reward for the long-term work we have done for over a decade to develop carbon-neutral energy production technologies", Kukkola adds.
In November 2021, Oilon opened a new plant for manufacturing industrial heat pumps in Kokkola (Finland). The capacity of the new plant is four times higher than the existing one.
Moreover, it will further accelerate the development of the industrial heat pump business, where Oilon has seen a notable expansion in recent years: deliveries grew significant. At present, the greatest demand comes from the European market, the needs of which are met by cooperation with Trane.
– "We have aggressive growth targets in industrial heat pumps, which are expected to become Oilon's core business in a few years' time. With such prospects, the capacity of the new plant will only be enough for a couple of years," Kukkola reckons.
Contact:
Oilon is a family-owned, global energy and environmental technology company, founded in 1961. Oilon specialises in energy and environmental technology with focus on industrial heat pumps and chillers, ground source heat pumps, and burners and combustion systems. Oilon conducts continuous product development to improve energy efficiency, reduce emissions and create solutions based on renewable energy sources.
Oilon has a of €70 million turnover and employs 380 people. The company has production facilities in Finland, the United States, China and Russia, as well as sales offices in Brazil and Germany. Furthermore, Oilon runs an international sales network of 70 dealers.
About Trane
Trane – by Trane Technologies (NYSE: TT), a global climate innovator – creates comfortable, energy efficient indoor environments for commercial and residential applications. For more information, please visit www.trane.eu or www.tranetechnologies.com.
Martti Kukkola – Chief Business Officer
Industrial heat pumps and chillers
Oilon Oy
Tel. +358 3 85 761, Mob. +358 400 312 060
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Washington Maritime Blue was chosen from more than 500 nationwide applicants for initial funding and is the only finalist from Washington state to now compete for once-in-a-generation funding of up to $100 million of $1 billion in the U.S. Department of Commerce Economic Development Administration’s challenge
SEATTLE--(BUSINESS WIRE)--#BuildBackBetter--Washington Maritime Blue, in partnership with 14 regional coalition partners, announces it has been selected as a finalist for the U.S. Department of Commerce’s Economic Development Administration’s (EDA) Build Back Better Regional Challenge. Maritime Blue is an independent, nonprofit organization building the leadership, infrastructure, and global connections to scale an equitable and sustainable blue economy. This award furthers its mission to foster thriving communities and a healthy economy and planet.
For Phase 1 of the Build Back Better Regional Challenge, the EDA is awarding $30 million in planning grants to its 60 finalists. Maritime Blue is the only finalist to be selected from Washington state and is one of the only established cluster organizations to move on to the final phase.
“We are proud to be selected as a finalist of the EDA’s Build Back Better Challenge,” said Joshua Berger, Founder and CEO of Washington Maritime Blue. “This achievement speaks to the strength of our coalition members and support partners and the projects they are invested in supporting, as well as the strength of our cluster and the programs underway driving systemic and meaningful change across sectors. We are excited to dive into this next phase.”
Maritime Blue will use the $500,000 award to integrate the region’s blue economy cluster and other sectors to achieve commercialization of new technologies that decarbonize heavy duty transportation and reduce emissions, generate thousands of new jobs, and provide a resilient foundation for sustainable economic growth. The vision and title of the consortium's approach is “Build Back Blue: Green Energy to Charge the Blue Economy.” One example is the Joint Innovation Project, which includes the Zero-emissions Fast Foil Ferry for Kitsap Transit, with innovative design concepts from industry partners Glosten and Bieker Boats. Several other projects focus on the production, movement, storage and use of renewably generated hydrogen in regional hubs.
“This is an incredible achievement for the Maritime Blue team and all coalition members and partners involved in the Build Back Better efforts,” said Lisa Brown, director of the Washington State Department of Commerce. “As the consortium led by Maritime Blue moves on to the final phase, we’re proud to see Washington state’s commitment to building a clean energy and blue economy future recognized, especially because this shows the potential of our emerging innovation cluster strategy.”
Washington State, with funding by the EDA, is also developing a multi-year cluster program, the Innovation Cluster Accelerator Program (ICAP), to strengthen industry ecosystems and accelerate economic development. The goal is to support six to eight Innovation Clusters in 2021 and expand the program over the coming decade. Build Back Blue partners CHARGE, CleanTech Alliance, Enterprise Digital Growth Ecosystem (EDGE), and Port of Benton are all ICAP recipients, thus leveraging cluster development across the state.
For more information on the initiatives behind the region’s Build Back Blue Challenge, visit The Washington Maritime Blue blog here. The final proposal will be submitted to the EDA by March of 2022 for consideration of implementation funding that will range from $25 to $100 million.
“Washington State is leading again in the blue economy, through collaborative efforts that are helping inspire and drive positive sustainable environmental and economic impact,” said U.S. Representative Derek Kilmer (WA-06). “This investment in Washington State will help support our families and grow critical green infrastructure for the region that will last for generations to come.”
The coalition members that will be leading the projects and programs include Washington Maritime Blue, Clean Tech Alliance, CHARGE, 5G Open Innovation Lab, VertueLab, Aerospace Futures Alliance, City of Tacoma, Tacoma Power, Kitsap Transit, Port of Benton, Douglas County Public Utility District, CFS Energy Group for the Confederated Tribes of the Umatilla, Lewis County, Impact WA, and the WA State Department of Commerce. In addition, there are 45 support partners that include key industry members as well as public and NGO organizations. All members of the Washington State Federal delegation also signed letters of support.
Stay up to date on Maritime Blue news on LinkedIn and Twitter.
About Washington Maritime Blue
Washington Maritime Blue is a non-profit, strategic alliance formed to accelerate innovation and sustainability in support of an inclusive blue economy. With a mission to implement Washington State’s Strategy for the blue economy delivered by Governor Jay Inslee’s Maritime Innovation Advisory Council, we are a partnership between industry, public sector, research & training institutions, and community organizations. Maritime Blue works to create a world-class, thriving, equitable and sustainable maritime and ocean industry through knowledge sharing, joint innovation, entrepreneurship, commercialization, business and workforce development. Learn more at https://maritimeblue.org/
Eric Schudiske (This email address is being protected from spambots. You need JavaScript enabled to view it.)
Tritium’s charging technology will be used to expand Osprey’s UK network with over 100 rapid chargers across 40 new charging destinations.
BRISBANE, Australia--(BUSINESS WIRE)--The United Kingdom (UK) is expected to require 10 times more charge points than are currently installed, by the year 2030, according to a recent study by the Competition and Markets Authority into the UK’s electric vehicle (EV) charging availability and reliability. To help meet this challenge, Tritium, a global developer and manufacturer of direct current (DC) fast chargers for electric vehicles (EVs), will supply 110 rapid chargers to Osprey Charging Network, one of the fastest growing UK-wide networks of rapid EV charging points.
Aimed at increasing access to rapid and reliable charging infrastructure in car parks, retail locations and along major transit routes, the 110 chargers are expected to be added to 40 new charging destinations, increasing Osprey’s network by 25%.
“It’s incredibly exciting to see the UK transitioning to electric transportation in a big way. This past September, about 15% of all British car sales were electric, setting a new record for the country and a strong indicator of the UK’s technology switch,” said Jane Hunter, Tritium CEO. “We’re so pleased to be working with Osprey to increase access to rapid charging and ease drivers’ transition to EVs through a fast, reliable and convenient charging experience.”
This announcement comes on the heels of the expansion of London’s ultra-low emissions zone, which covers most of greater London and is a crucial step towards the Mayor’s ambitions to tackle the climate emergency and put London on the path to be a net zero carbon city by 2030. Many of the new charging destinations will be located within greater London to increase access to rapid charging for drivers and businesses transitioning to electric transportation.
“It’s a race to meet the ever-growing demand for EV charging in the UK, and we aim to be Britain’s rapid charging network of choice,” said Ian Johnston, Osprey Charging Network CEO. “To achieve our goal, we required a cutting edge and reliable technology partner, and Tritium is a perfect fit. Easy and intuitive user experiences are key to EV uptake, and Tritium excels in developing products that are not only relevant to the market, but also so easy to use. And, with their modular and scalable charging technology, Osprey gets market-leading reliability and the flexibility to easily increase charger power.”
About Tritium
Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions, including approval of DCRN’s stockholders, and is currently expected in January 2022.
For more information, visit tritiumcharging.com
About Osprey Charging Network
Osprey Charging Network is a UK-wide, rapid electric vehicle charging network. Osprey fund, install and manage their network on behalf of landlord and local authority partners. The Osprey network is built to be reliable and easy to use. All Osprey chargers accept contactless card payments, App payments, RFID payments and payment through all major third-party payment methods including fleet cards. Every charging point is also powered by 100% renewable electricity. In 2019, Osprey installed London’s first rapid charging hub in partnership with Transport for London (TfL), at Stratford International Station car park.
More information on Osprey can be found at https://ospreycharging.co.uk
Tritium Media Contact
Jack Ulrich
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Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
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Osprey Media Contact
Toby Dye
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AUGUSTA, Maine--(BUSINESS WIRE)--The following statement was issued on behalf of NECEC:
“While we are disappointed in the court’s decision on the preliminary injunction, we remain confident that the full legal process will ultimately conclude that question one is unconstitutional. As one of the region’s most important clean energy projects, the NECEC will benefit Maine and all New Englanders by reducing the region’s dependence on fossil fuels which will result in cleaner air, lower energy prices and improved reliability.
“As Mainers face stiff increases on their electric bills this winter after generators significantly increased the price they charge for electricity, the region’s independent grid operator, ISO New England, called out the need for greater fuel diversity and baseload generation, pointing to the NECEC as a solution.
“The facts are clear: the NECEC project is good for Maine and for the region and will help address the energy, economic and climate issues we face. That is why we remain committed to this project and its many benefits and look forward to restarting construction as soon as we are able.”
ABOUT THE NECEC PROJECT
The New England Clean Energy Connect (NECEC) is a $950 million investment that will deliver 1,200 megawatts of renewable hydropower to the New England energy grid in Lewiston, Maine. All the costs will be paid for by Massachusetts electric customers. Once built, the NECEC would be New England's largest source of renewable energy, representing a fundamental shift away from fossil fuels while simultaneously lowering energy costs in Maine and New England.
The 145-mile transmission line is being built on land owned or controlled by Central Maine Power. The 53 miles of new corridor on working forest land uses a new clearing technique of tapered vegetation; the remaining two-thirds of the project follows existing power lines created for the state’s hydroelectric industry almost a century ago. Construction is scheduled to be completed by the Spring of 2023.
The project will create an average of more than 1,600 good-paying jobs annually during the two-and-a-half-year construction period, provide $200 million in upgrades to Maine’s energy grid, making Maine’s electricity service more reliable. The NECEC will allow more producers of renewable energy in Maine to get their energy on the grid, and because the corridor project will use clean hydropower, it will reduce the use of fossil fuels, cutting three million metric tons of dirty emissions each year.
The NECEC will also deliver significant economic benefits to Maine, including lower electricity prices, increased local real estate taxes, and reduced energy costs, as well as benefits like expanded fiber optic cable for broadband service in Somerset and Franklin counties, and economic development funding for Western Maine.
Ted Varipatis
Serra Public Affairs
207-415-6182
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced additional fuel and infrastructure contracts to meet the growing demand for renewable natural gas (RNG), a sustainable fuel that provides an immediate and significant carbon reduction in transportation.
In the Ports of Los Angeles and Long Beach, Clean Energy’s Adopt-a-Port program with Chevron continues to gain momentum, with more fleets switching to RNG. Chevron has committed to provide a total of $28 million of financing to trucking companies serving the ports region as well as owner-operators to purchase new RNG heavy-duty trucks. So far, over 200 heavy-duty trucks have been contracted through the program and over 400 more are being processed, which will help to clean the air in and around the ports and significantly reduce greenhouse gas emissions.
A leader in the move to meet clean air standards in California, Pacific Green Trucking continues to expand its clean fleet in the port region, signing a fueling agreement with Clean Energy for an estimated 1 million gallons of RNG to power 61 new natural gas trucks.
“Reducing our carbon emissions and improving air quality near the ports is a top priority for Pacific Green and we’re doing it one truck at a time,” said Vicente Zarate, president, Pacific Green Trucking. “RNG is the most immediate and cost-efficient way to make the necessary environmental changes for the trucking industry.”
Also deploying another 46 RNG-fueled trucks through the Adopt-a-Port program are NGL Logistics, TDS Logistics, Mortimer & Wallace, Pacific 9, Cota Capital American Pacific Forwarders, Arete Logistics, Paul Suh, Sang’s Express, Pacifica Trucks, Pacific Expressway, Yanxiu Li, IML Transport, Supra National Express, and Atlas Marine.
“Renewable natural gas creates a pathway for our customers to dramatically reduce their carbon emissions and turn their sustainability goals into reality,” said Chad Lindholm, vice president, Clean Energy. “As the demand for RNG accelerates, more clean natural gas trucks are hitting the roads in the Port of Los Angeles and elsewhere, and we’ll be there to provide both the fuel and infrastructure to help fleets realize immediate and significant carbon reduction.”
Republic Services has signed an agreement with Clean Energy for an expansion project in Huntington Beach, CA. The first phase includes expanding an existing RNG fueling station to accommodate more refuse vehicles, as well as adding new fast-fill capabilities for their growing private fleet and transfer truck operations. In the second phase of the expansion, Clean Energy will construct a new station at an adjacent address to fuel 30 additional RNG trucks.
In addition to these projects, Clean Energy has been contracted for a major expansion of the Republic Services RNG fueling facility in Anaheim, CA, that will provide 52 additional fueling bays for refuse trucks.
Harrison Industries in Ventura, CA has signed an agreement for a station upgrade and fueling contract for an anticipated seven million gallons of RNG to fuel 80 natural gas solid waste trucks.
Golden Empire Transit in Bakersfield, CA has signed a maintenance agreement with Clean Energy for its fueling station, which will provide an expected 2 million gallons of RNG during the term to power over 100 transit buses.
Salem Area Mass Transit District (SAMTD) in Oregon, which has operated natural gas buses for more than 20 years, has signed a $1.6 million contract with Clean Energy for a station upgrade to accommodate its 64 transit buses.
Clean Energy has signed an agreement with MV Transit in Long Beach, CA, for an anticipated 700,000 gallons of RNG to fuel municipal buses.
The County of Sacramento has signed a maintenance contract for an expected 900,000 gallons of compressed natural gas (CNG) to fuel 50 refuse trucks.
Clean Energy continues its historic partnership with Dallas Area Rapid Transit (DART), signing a maintenance agreement for the transit agency’s stations for an approximate 27 million gallons of natural gas which serves 700 transit buses.
Blue Diamond Disposal, a refuse and recycling company located in Mount Arlington, NJ has renewed a maintenance agreement with Clean Energy. The station will dispense an expected 2.5 million gallons of CNG during the term to fuel 50 refuse trucks.
The Atlantic County Utilities Authority (ACUA) has signed a contract with Clean Energy to continue maintenance services for the Egg Harbor Township, NJ refuse and recycling company. The station will provide an anticipated 1.6 million gallons of CNG to fuel 58 refuse trucks over the contract term.
The City of Tacoma, WA has signed a maintenance agreement with Clean Energy for an estimated 700,000 gallons of CNG to fuel 50 waste trucks.
The Portage Area Regional Transportation Authority (PARTA) in Ohio is continuing to add CNG vehicles to its fleet.
“We’re excited to be able to provide this new transportation option for our riders. These vehicles combine the character of early 20th century trolleys with leading-edge green technology,” said Claudia Amrhein, PARTA General Manager and CEO. “The fact that PARTA’s new trolley buses are powered by CNG fuel moves us closer to our goal of lowering our carbon footprint. That’s a win for our riders, PARTA, and the wider community.”
Long-time Clean Energy customer, Atlantic City Jitney Association, which operates shuttle buses out of Egg Harbor Township, NJ, has extended its contract for an estimated 900,000 gallons of CNG to power its fleet.
Green Path Logistics, a large nationwide carrier in Dallas, TX, has signed a fueling agreement with Clean Energy for 900,000 gallons of fuel for its fleet of 100 heavy-duty trucks.
The City of Temple, TX has inked a maintenance contract with Clean Energy for its station with an expected 576,000 gallons of fuel over the term for 30 sanitation trucks.
In Canada, the City of London, Ontario, has inked a fueling agreement with Clean Energy for an expected 476,000 gallons of fuel for 28 refuse trucks. The City has been operating six CNG-powered refuse trucks for more than a year at the London Flying J truck stop and has added the 28 new trucks to support the City's new "Green Bin" program expansion.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about amounts of RNG and CNG expected to be consumed, numbers of vehicles expected to be deployed or financed, the Adopt-a-Port initiative, the benefits of Clean Energy’s fuels, the timing and scope of construction and maintenance projects and the value of contracts. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
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WASHINGTON--(BUSINESS WIRE)--#affordableenergy--America’s businesses and manufacturers can expect to pay at least $41.4 billion more for business-related energy costs in 2022, according to analysis by Consumer Energy Alliance (CEA), the leading energy and environmental advocate for families and businesses.
“Driving Towards Disaster” analyzes data from the U.S. Energy Information Administration’s Short-Term Energy Outlook to determine the overall cost increase of electricity, natural gas and diesel fuel for American businesses and manufacturers.
“Federal policies have discouraged U.S. energy production, cancelled critical infrastructure, created inconsistent and confusing regulations, and, often, impractical solutions leading to unreliable and more harmful environmental energy delivery. These recent policy choices will leave American businesses and manufacturers to foot $41.4 billion more in energy costs next year,” CEA President David Holt said. “Many businesses are already reeling from inflation, higher energy costs, broken supply chains and a lack of workers, and this is yet another hardship they will likely need to overcome because of poorly conceived policies.”
“Unfortunately, as businesses spend more on energy and transportation, expenses will be passed on to the consumers purchasing household necessities from milk and eggs to cars and trucks. This comes as inflation reached a 39-year high and is likely to climb further.”
“Thankfully, commonsense energy policies can combat some of these financial hardships by lowering energy costs now and into the future, without slowing our steady progress toward a net-zero future. Rather than implementing short-term, nearsighted strategies – like tapping into the Strategic Petroleum Reserve or begging OPEC to increase supply – U.S. energy policy should include long-term measures to ensure energy affordability by encouraging investment in American energy resources; unfreezing access to natural gas resources managed by the federal government; and allowing for the safe, efficient transport of fuels through pipeline infrastructure.”
“As this analysis shows, domestic energy policies have real-world implications for America’s businesses, manufacturers, families and consumers. It is essential we have policies that rely on all of our energy resources to meet our energy and environmental needs; reduce the cost burden on businesses to keep them competitive; and help us achieve our net-zero goals.”
To read the full analysis, click here.
About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers, and manufacturers to support America’s environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic, and environmentally responsible solutions to meet our nation’s energy needs.
Bryson Hull
(202) 657-2855
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Investing in over 75 impact-driven companies reaching nearly 17 million clients in developing countries
STAMFORD, Conn.--(BUSINESS WIRE)--Developing World Markets (“DWM”), a U.S.-based investment manager with more than two decades of experience, announced today its 2021 Annual Impact Report, which outlines the positive social and environmental impact of investments over the previous year. The report unveils both challenges and opportunities in identifying investible solutions that sustainably address the social, environmental, and economic needs of the developing world.
DWM is a proud signatory of the Operating Principles for Impact Management (OPIM), demonstrating its commitment to a global standard for managing investments for impact. In March 2021, DWM released its first-ever independent verification of alignment with OPIM. DWM was also named to the top ImpactAssets 50 list of impact fund managers globally for the seventh year and became a signatory to the Net Zero Asset Managers Initiative in 2021.
As of this year, DWM’s current aggregate portfolio of investments in financial inclusion contains 66 microfinance institutions and 10 small and medium enterprise lenders that provide financial services to underbanked clients in emerging and frontier countries. This demographic includes women and minority-owned businesses across impact sectors including sustainable agriculture, education, housing, health, renewable energy, displacement and water and sanitation. The portfolio also included three solar operating companies.
“Now more than ever, it’s increasingly important for investors to really look under the hood to see whether the methods used to measure the results of impact investments are both accurate and meaningful enough to tell us if we’re on track to achieving our goals,” said Hannah Schiff, newly appointed Director of Impact at DWM. “As an industry, we can concretely move the needle if investment managers seeking to make an impact are able to document progress in a measurable and efficient way.”
The 2021 Impact Report includes details on DWM’s impact strategies, new strategic partnerships, financial commitments, and client protection initiatives. Tangible measurements of DWM’s direct impact throughout 2020 include the following:
“As we look ahead to 2022, we see financial inclusion playing an increasingly important role in helping people in developing economies regain their financial footing and improve their lives and livelihoods,” said Edward Marshall, Co-Managing Partner of DWM. “We see particular opportunities in 2022 for financial inclusion to support underserved communities such as those forcibly displaced by conflict and climate change, and we’re developing strategies to make that happen.”
Click here to view the full report.
About DWM
Founded in 1994, Developing World Markets (DWM) seeks investible solutions that sustainably address the social, environmental, and economic needs of the developing world. DWM began impact investing in 1999 and shifted exclusively to impact in 2007. DWM has over two decades of experience in emerging and frontier markets. Through DWM Asset Management, LLC, the firm’s SEC-registered investment adviser, DWM has originated and managed over $2.2 billion of private debt and private equity in impact-oriented enterprises, including over 900 loan disbursements and 25 private equity stakes in more than 70 emerging and frontier countries.
As a non-EU AIFM, with vehicles regulated by Luxembourg’s CSSF and Germany’s BAFIN, longstanding partnerships in the Netherlands, Germany, and now the Nordic region, and relations with institutional investors across the continent, DWM is dedicated to serving its European investor partners, with a shared commitment to impact.
Media
Maggie McCuen
BackBay Communications
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(617) 686-5705
HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) executive management will host a webcast at noon EST on Friday, Jan. 28, 2022, to discuss the company’s fourth-quarter 2021 financial results, which will be released earlier that day, and provide an update on strategic initiatives.
To access the webcast, go to the Events and Presentations section of the Phillips 66 Investors site, https://www.phillips66.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a transcript will be available at a later date.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Headquartered in Houston, the company has 14,100 employees committed to safety and operating excellence. Phillips 66 had $56 billion of assets as of Sept. 30, 2021. For more information, visit www.phillips66.com or follow us on Twitter @Phillips66Co.
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, has executed its inaugural offtake agreement for at least 31 GWh of low-carbon battery cells with an undisclosed, leading global publicly listed manufacturer and provider of energy storage systems (“ESS”). The two companies have agreed to jointly develop innovative technology solutions for the fast-growing global ESS market based on battery cells manufactured by FREYR.
“Announcing our first significant offtake agreement is a major milestone. This development advances us towards a final investment decision, the start of construction on our initial Gigafactories, and industrial-scale commercialization of FREYR’s clean battery cells,” said Tom Jensen, the CEO of FREYR.
Highlights
“Battery-based energy storage solutions are key to accelerating the decarbonization of worldwide power systems, and the rapidly growing global ESS market represents a multi-billion-dollar commercial opportunity for FREYR,” said Tom Jensen. “The combination of FREYR’s next-generation clean battery production and our new partner’s deep ESS project expertise should provide industrial and utility customers with differentiated, integrated solutions in the battery storage markets globally.”
A recent industry research report by Goldman Sachs estimates that the annual total addressable market for battery storage applications will grow to $33 billion by 2030, when total installed capacity is projected to reach 950 GWh. FREYR is progressing commercial discussions with additional potential significant offtake customers in the global ESS market, in addition to the EV and marine segments.
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028. To learn more about FREYR, please visit www.freyrbattery.com
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding the parties’ joint ability to develop innovative technology solutions for the fast-growing global ESS market, the construction of FREYR’s initial Gigafactories, the industrial-scale commercialization of FREYR’s clean battery cells, FREYR's ability to deliver at least 31 GWh of battery cells from 2023 to 2028 from its Norwegian manufacturing facilities, FREYR’s total potential revenues from this agreement, the parties' ability to drive standardization and cost optimization in the utility space, battery-based energy storage solutions’ ability to accelerate the decarbonization of global power systems, the provision of differentiated, integrated solutions in the battery storage markets globally, the growth of the annual total addressable market for battery storage applications, the development and commercialization of 24M’s technology (and any intended benefits thereof) and the status of FREYR’s commercial discussions with any potential offtake customers are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission (the "SEC") on August 9, 2021, as amended, and in other SEC filings available on the SEC’s website at www.sec.gov.
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Media contact:
Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 9920 54 570
Single-source provider for marine defense customers adds fluid filtration and testing services to a growing range of capabilities
BELOIT, Wis.--(BUSINESS WIRE)--#OEM--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management (Arcline), has acquired Fluid Filtration Specialists LLC (FFS), a leader in flushing and filtration services for marine vessels and other facilities that operate large, highly sophisticated engines and systems. The acquisition of FFS further expands FMD’s capabilities and service solutions for shipyard, defense, and commercial marine customers, including the U.S. Navy, the U.S. Coast Guard, and the Canadian Coast Guard.
Click here for images associated with FFS systems.
“Fluid Filtration Specialists has a stellar reputation for doing quality work correctly and on time, which makes it a natural fit for our turnkey service offerings,” said George Whittier, CEO of FMD. “Our growing shipbuilding solutions are operating on the military’s most advanced naval vessels and adding services like those provided by FFS helps us serve as a single, proven partner who knows those ships from stem to stern. This allows us to respond faster with just the right parts, services, and maintenance solutions.”
Founded by engineering experts, FFS focuses on proven fluid separation and cleaning systems that were specifically designed to address the maintenance and reliability concerns of heavy equipment used in critical operational systems, often under challenging conditions.
“Quality care of high-performance mechanical systems creates opportunities to lower costs, reduce downtime, and prolong the reliability and lifespan of valuable assets,” said Shane Sims, owner of FFS. “Becoming part of Fairbanks Morse Defense enables us to leverage its robust service center network to expand our reach among defense customers that so many communities depend on.”
Over the past year, FMD has expanded its capabilities, inventory, and geographic presence with several key acquisitions to become a single-source provider of equipment and services to the marine defense industry. In 2021, FMD acquired Welin Lambie, a military and commercial davit manufacturer; Hunt Valve, a specialty naval valve manufacturer; and in 2020, FMD acquired Ward Leonard, a motor and control solutions provider. FMD also acquired diesel engine repair and rebuilding service provider BRECO International in November 2020.
About Fairbanks Morse Defense
Fairbanks Morse Defense (FMD) is a leading provider of the highest value equipment for naval defense customers. For more than 100 years, FMD has been a principal supplier of reliable power systems, parts, and aftermarket services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and the Canadian Coast Guard. Through its six strategically located service centers and a robust aftermarket team, FMD is able to provide round-the-clock field service and parts support. Additionally, its suite of full lifecycle solutions extends asset life and enables it to run more efficiently. With a growing portfolio of companies under the FMD brand, the company continues to integrate these mission-critical products and innovative service solutions to power marine defense. FMD, a portfolio company of Arcline Investment Management, is based in Beloit, Wisconsin. Learn more about FMD at www.FairbanksMorseDefense.com.
About Fluid Filtration Specialists LLC
FFS is a proven leader in filtration and cleaning services. The U.S.-based company’s filtration, cleaning, and inspection systems provide critical mechanical reliability to diesel engines, piping for various commercial and industrial uses, and hydraulic systems.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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DUBLIN--(BUSINESS WIRE)--The "Wind Turbine Foundation Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Mono-Pile, Jacket-Pile, Gravity, Tripod, Suction, Raft, Pile, Well Foundation, Rock & Anchor, and Others); Application (Onshore and Offshore)" report has been added to ResearchAndMarkets.com's offering.
The global wind turbine foundation market is expected to grow from US$ 6,958.35 million in 2021 to US$ 15,868.94 million by 2028; it is estimated to grow at a CAGR of 12.5% during 2021-2028.
Continuous rise in the global population and disposable income in developing countries are driving energy consumption. To meet the energy needs, energy sources such as fossil fuels, nuclear energy, and renewable energy are being utilized in various quantities. The increased amount of renewable energy sources in the global energy mix has spurred industry expansion, resulting in high wind towers. However, the demand for increased power generation and improved development activities, in most countries are focusing on providing inexpensive, dependable, and secure energy, which is projected to boost the expansion of the wind turbine foundation market. The World Bank Group has unveiled a new program to help developing countries adopt offshore wind energy more quickly. In association with the International Finance Corporation (IFC), the group will support emerging nations in assessing their offshore wind potential by aiding technical assistance in developing a growing pipeline of projects that are worth investment.
China has more than 1,000 GW of technical potential for offshore wind due to its 18,000-kilometer-long coastline. State-owned energy businesses are in charge of the majority of projects. In 2019, European corporations, Electricite de France (EDF) and Equinor entered the market via collaborations with CHN energy and SPIC. Jiangsu Zhugensha H1 Offshore Wind Farma US$ 600 million project, built on China's first foreign-backed wind farm, was completed in December 2019. EDF and China Energy Investment Corporation collaborated on the first project-the 300 MW Dongtai IV wind farm. Phase 2, dubbed Dongtai V, will add 200 MW of power to the Dongtai in Jiangsu province.
Further, by 2040, Japan plans to construct 4 GW of capacity, to account for 7% of total power generation in that year. Japan's Akita Noshiro Offshore Wind Farm Project "The Akita Offshore Wind Farm Corporation" is constructing a 54.6 MW wind farm in Akita Port. MHI Vestas has been selected as the manufacturer of the 13 turbines for this project. Another 20 MHI Vestas turbines will be used in the nearby project in Noshiro Port. Commercial operations would commence in 2022, with 130,000 houses being served. Thus, the quickly expanding wind energy installation capacity and falling wind turbine prices worldwide are expected to propel the global wind turbine foundation market forward during the forecast period.
The COVID-19 pandemic in Europe has had a diverse impact on various nations, since only a few nations have seen an increase in the number of cases, consequently imposing stringent, long-term lockdown or social isolation measures. However, Western European nations such as Germany, France, Russia, and the UK witnessed a only a slight decline in their growth activities owing to their excellent healthcare systems. The governments of these countries have invested significant resources in improving the efficiency and efficacy of the detection and treatment of COVID-19. Following the relaxation of limitations, all wind turbine and component manufacturing plants in Europe are now open. To ensure full compliance with regulatory requirements, sanitary measures are reinforced within locations. As a result, the European wind turbine foundation market is expected to grow significantly in the coming years.
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For more information about this report visit https://www.researchandmarkets.com/r/3o3vcu
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Adaptive Energy recognized at Dubai event for unique propane fuel cell technology that provides backup and offgrid power for rail crossings, remote radio networks, weather aviation cameras and other critical infrastructure
DUBAI, United Arab Emirates--(BUSINESS WIRE)--#alternativeenergy--Adaptive Energy, a leading designer and manufacturer of low-watt solid oxide fuel cells (SOFCs) for backup and offgrid power, last week won a Global Innovation Award at the Global Technology Conference (GTC) for LPG Week in Dubai. The Michigan-based company was selected as runner-up for Most Innovative Propane-Powered Technology, making it the only SOFC company ever to receive this prestigious award.
Representing Adaptive Energy was CEO Michael Edison, a veteran of the clean energy movement. His presentation highlighted how SOFCs enable greater use of alternative energy for critical infrastructure.
“At Adaptive Energy, our goal is to increase the reliability of critical low-watt infrastructure while reducing its carbon impact,” Edison said. “Remote sites often lack reliable access to grid power, so alternative energy sources like wind and solar are vital. But when harsh weather interrupts power production, this critical infrastructure can fail. That’s where our propane fuel cells come into play.”
The need for reliable backup and offgrid power is what also led major railway partner RedHawk Energy Systems, LLC to place their largest order to date, in December.
“This is our second consecutive major order from Adaptive Energy this year,” said Matt Ulrich, Rail Sales for RedHawk Energy Systems. “Our rail customers love the simplicity and low maintenance needs of the P250i. Instead of babysitting legacy gas/diesel generators that require constant refueling and routine maintenance, the P250i can provide days, weeks and even months of reliable power with minimal personnel involvement.”
During his presentation at LPG Week, Edison shared three key alternative energy use cases for SOFCs:
Adaptive Energy is uniquely positioned to address these concerns thanks to patented, highly durable, clean SOFC technology that has been engineered to excel in extreme conditions, from -40°C to 50°C. With a 22-year history of commercializing SOFCs, it has been the leading provider of propane fuel cell technology across industries.
The company has long-standing relationships with U.S. federal agencies, major Class I railways via partner RedHawk Energy Systems, LLC, and other commercial customers where consistent uptimes are critical.
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AKRON, Ohio--(BUSINESS WIRE)--$BW #blockchain--Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has signed a cooperation agreement with Dallas-based Applied Blockchain, Inc. (Applied Blockchain) (PINK: APLD) to identify and explore opportunities to develop, supply, construct and operate baseload power and clean energy projects in the next three years to support cryptocurrency mining operations.
These projects could result in up to 1.5 gigawatts of electrical generation capacity and will be a platform for using B&W’s solutions such as renewable waste-to-energy, BrightLoopTM carbon capture and hydrogen production, solar generation and long-duration energy storage to provide baseload power and clean energy to support Applied Blockchain’s power needs in North America.
“The global demand for cryptocurrency mining has been growing substantially and we’re excited to play a key role in helping our partner, Applied Blockchain, develop the infrastructure necessary to power this technological revolution in a sustainable and economic way,” said B&W Vice President, Corporate Development & Investor Relations, Megan Wilson. “Clean energy technologies, including solar, hydrogen and long-term energy storage, will play a pivotal role in providing the electrical capacity needed to power cryptocurrency mining, and B&W is well-positioned to be a solutions provider to support this growing need.”
“B&W has more than 150 years of experience in the U.S. energy industry providing innovative solutions to meet customers’ unique power needs, making us well-positioned to develop these types of projects for diverse and novel energy users,” Wilson said. “Applied Blockchain is a dynamic, forward-thinking company and we’re excited to team with them to pursue multiple clean energy and baseload power projects.”
B&W’s clean energy capabilities include its ClimateBrightTM suite of decarbonization technologies – including BrightLoop, which can use multiple fuels to produce clean hydrogen – as well as waste- and biomass-to-energy technologies and solar installation services. In addition, B&W industry-leading thermal energy generation and environmental technologies round out a diverse and flexible array of options to power cryptocurrency mining using virtually any fuel.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.
About Applied Blockchain
Applied Blockchain, Inc. (PINK: APLD) is a leading provider in the growth and development of Blockchain Infrastructure by delivering high-performance crypto mining, hosting, and pooling solutions to customers around the globe. The Company has partnered with the most recognized names in the industry to develop, deploy, and scale its business. The Company is backed by some of the largest family offices and institutional investors in the U.S. Find more information at www.appliedblockchaininc.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the signing of an agreement to explore the development of power generation projects for Applied Blockchain, Inc. and potential commercial opportunities in the U.S. market. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
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