KENNESAW, Ga.--(BUSINESS WIRE)--The Yamaha Rightwaters plastics recycling program returned more than 10,000 pounds of Polyethylene and Polypropylene sheet plastics back to base materials during 2021, proving a pilot concept the sustainability initiative hopes to expand in 2022. Yamaha Rightwaters announced the program in August and continues to work with Nexus® of Atlanta, Georgia and Tommy Nobis Enterprises® of Marietta, Georgia, to develop a larger national program intended to reduce plastic waste in America’s waterways.
“Polyethylene and Polypropylene constitute a substantial portion of the plastic in our oceans harming fish populations. This pilot program proves these plastics can be broken down in a cost-effective manner that Yamaha Rightwaters can potentially replicate on a national level,” said Martin Peters, the Government Relations Division Manager for the Yamaha U.S. Marine Business Unit. “It also demonstrates that Yamaha builder and dealer partners are willing to become active participants in the program, further underscoring a marine industry commitment to conservation and sustainability.”
Yamaha developed a reverse logistics program to return the protective covers from select boat builders, retail dealers and its three boat production facilities. The sheet plastic used in the pilot program comes from protective boat covers at Contender Boats, Regulator Marine, Xpress Boats, Yamaha Jet Boat Manufacturing (YJBM), Skeeter and G3 Boats.
The materials ship to Tommy Nobis Enterprises, which separates recyclable plastics from other materials, such as plastic zippers, cords and eyelets. Tommy Nobis Enterprises then ships the material - known as feedstock in the recycling industry - to Nexus® for processing into raw materials, which range from gasses to waxes. Those raw materials are used for other products.
Yamaha Rightwaters is a national sustainability program that encompasses all of Yamaha Marine’s conservation and water quality efforts. Program initiatives include habitat restoration, support for scientific research, mitigation of invasive species, the reduction of marine debris and environmental stewardship education. Yamaha Rightwaters reinforces Yamaha’s long-standing history of natural resource conservation, support of sustainable recreational fishing and water resources and Angler Code of Ethics, which requires pro anglers to adhere to principles of stewardship for all marine resources.
Yamaha’s U.S. Marine Business Unit, based in Kennesaw, Ga., is responsible for the sales, marketing, and distribution of Yamaha Marine products in the U.S. including Yamaha Outboards, Yamaha WaveRunners, Yamaha Boats, G3 Boats and Skeeter Boats. Supporting 2,400 dealers and boat builders nationwide, Yamaha is the industry leader in reliability, performance, technology and customer service.
Tommy Nobis Center is a Marietta-based nonprofit that helps individuals with disabilities enter or return to employment.
Nexus®, based in Atlanta, Ga., is an end-to-end plastics recycling business – an operational, commercially scaled, continuous system. The Nexus® plant in Atlanta is the first multi-polymer pyrolysis operation in the US to receive ISCC Plus™ certification. Nexus has developed a highly efficient system built at low capital cost and without a need for catalysts or post-processing, yielding clean, ISCC Plus™ on-specification outputs. Nexus® has converted more than 2.5 million pounds and counting of landfill-bound plastics into virgin resins for customers like Royal Dutch Shell and Chevron Phillips Chemical. Investors include Cox Enterprises®, a $21-billion family-owned business committed to global sustainability. The Nexus® process is efficient, environmentally friendly, and encompasses rigorous operational and business standards. The company’s operating philosophy is founded on the principle that for any recycling solution to succeed, it must be profitable, technically proven at scale, and operate as a robust stand-alone business, while creating a meaningful and positive environmental impact.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
Brad Massey
Manager, Corporate Communications and Video
Yamaha U.S. Marine Engine Systems
Office: (770) 701-3294
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Uplight Vice President of Market Innovation Tanuj Deora will join the Council on Environmental Quality to coordinate across agencies to help reach the aggressive targets on the path to 100 percent 24/7 carbon pollution-free electricity for all Federal Government operations
BOULDER, Colo.--(BUSINESS WIRE)--Uplight announced today that its Vice President of Market Innovation, Tanuj Deora, departed at the end of December to join the White House Council on Environmental Quality (CEQ), part of the Executive Office of the President, as Director of Clean Energy and team leader for 24/7 carbon pollution-free electricity (CFE) team, reporting to Andrew Mayock, US Federal Chief Sustainability Officer.
Deora will help lead the Biden administration to enable all government operations to run sustainably, as required by the Executive Order on Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability. The Order includes several pledges leveraging the federal government’s purchasing power including a transition to CFE, net-zero government buildings and green jobs creation.
“After three rewarding years helping with the formation and growth of Uplight, I’m honored to be asked to again join public sector service, particularly for this compelling opportunity. Having focused on the supply side of clean energy in the wind and solar industries, and at Uplight to innovate customer experience, I’m excited to bring that experience to the customer side of our energy system decarbonization challenge,” said Tanuj Deora, former Vice President of Market Innovation at Uplight. “Particularly exciting is the Administration’s focus on leadership by example, with a commitment to invest in stimulating the energy markets’ capacity for CFE for all energy consumers, a complementary element to the broader climate policy so highly prioritized by the President and his team.”
Uplight has focused on empowering energy consumers of all types, including residential, small-and-medium-businesses, and both State and Federal governments to make energy more sustainable for every community. Uplight’s core capability of creating connected customer experiences across organizational silos is a key element to unlocking hard to achieve decarbonization, and is profoundly aligned to the role of the Office of the Chief Sustainability Officer in the Executive Office of the President. As a certified B-corp, Uplight is excited to see a member of its senior leadership team continue his contributions to the mission of creating a sustainable future by powering the clean energy transition on this larger platform.
“While we’re sad to see Tanuj depart, we’re thrilled to see his talents working toward the goal of carbon-free electricity and meeting the goals of COP 26. Since Tanuj joined Uplight we have benefitted from his critical eye, collegial leadership style, and passionate commitment to our mission. As an American and a global citizen, I’m thrilled to have an Uplighter join the White House,” said Uplight CEO Adrian Tuck.
Added Justin Segall, Uplight Chief Strategy Officer, “I recruited Tanuj to join the Simple Energy team three years ago on the basis of his industry knowledge and forward thinking, with both a powerful vision of the future and a clear-eyed understanding of the challenges to realize it. I’m appreciative of his partnership from Simple Energy into Uplight to help shape regulatory and innovation strategy and execution to accelerate outcomes for our end users and customers in pursuit of a more sustainable future. I am looking forward to Tanuj’s leadership in accelerating America to 24/7 carbon free energy.”
Deora’s tenure at Uplight included leading the regulatory affairs group, where he helped champion legislation and regulatory policy for energy efficiency and demand flexibility, determined market fit for innovative products, and represented the company in policymaker and industry forums. Deora’s 20 years of leadership experience includes four years as Chief Strategy Officer for the Smart Electric Power Alliance, serving as Director of the Colorado Energy Office in the cabinet of Governor John Hickenlooper, developing wind energy and transmission projects at EDP Renewables, and working as a power industry strategist at McKinsey & Company. A trained mechanical engineer and Harvard Business School graduate, Tanuj has also served on the boards of the Energy Efficiency Alliance, Hygge Power, the Smart Energy Consumer Collaborative and the Interwest Energy Alliance.
Deora will begin his new position under the White House Council on Environmental Quality in January of 2022. For more information about the work of the Office of the Chief Sustainability Officer see www.sustainability.gov.
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streamlining the complex transition to the clean energy ecosystem for more than 80 electric and gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with its clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedin.com/company/uplightenergy.
Elaine Reddy
720-252-8105
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OSC founder Jon M. Williams steps down as CEO and President of OSC Holdings, Inc. to focus on point-of-use lithium-ion battery technology company Viridi Parente, Inc.
BUFFALO, N.Y.--(BUSINESS WIRE)--#batterytechnology--OSC Holdings, Inc. (OSC) announces several executive appointments, including John W. Yensan as President and Chief Executive Officer (CEO). Yensan steps into the role held by OSC founder Jon M. Williams and will drive the company's strategy and oversee operations. Williams will remain on the OSC Board but is shifting his responsibilities to facilitate the rapid growth and expansion of Viridi Parente, Inc. (Viridi), the point-of-use battery technology company he established in 2010.
Click here for images of John W. Yensan and Jon M. Williams
"I will always be part of OSC, but now is the right time for me to focus on Viridi and the fail-safe point-of-use lithium-ion battery technologies that the company is bringing to the market in 2022," said Williams. "I've worked with John Yensan over the last 25 years, and I have no doubt he is the right person to lead OSC into its next phase. I look forward to seeing how the company will grow and develop under the leadership of John and his executive team."
Yensan previously served as President of Ontario Specialty Contracting, Inc. (the U.S.-based specialty contracting group), working directly with Williams to ensure the successful delivery of projects throughout the Americas. Yensan combines more than 30 years of civil construction, environmental remediation, and brownfield redevelopment expertise. In his new role, Yensan will manage and oversee OSC Constructors, ULC (based in Mississauga, Ontario), OSC Equipment and Manufacturing Services, Inc. (based at 1001 East Delavan Ave., Buffalo N.Y.), and Ontario Specialty Contracting, Inc. (based at 140 Lee Street, Buffalo N.Y.)
"Jon has done an amazing job building OSC and leading it through an unprecedented journey of growth, especially during extreme market conditions that we have experienced over the past 25 years," said Yensan. "These are some big shoes to fill, but I'm certainly up to the challenge. With the support of this executive team, we are in a great position to build on the excellent reputation that Jon has established for OSC."
Founded in 1997 in Buffalo, N.Y., OSC has become one of North America's premier environmental contracting and brownfield redevelopment firms.
Additional members of the OSC executive team include the following:
Andrew Cappello, CFO – Andrew Cappello oversees all aspects of OSC's accounting and finance functions. Before joining the OSC team, Cappello worked for a large regional public accounting firm. He is a licensed Certified Public Accountant (CPA) in New York State.
Gil Nicolau, Vice President, OSC Constructors, ULC. – Gil Nicolau has over 15 years of experience in the contracting industry. Nicolau is the lead executive managing OSC’s Canadian operations. He has extensive experience in managing large, high-profile projects. His primary responsibilities include overall project management, allocation of equipment, manpower, scheduling, budgeting, and procurement.
Lenny Kostelnik, General Manager, OSC Manufacturing and Equipment Services – Lenny Kostelnik has over 35 years of management experience in the construction equipment industry. He is a decisive and effective manager who is skilled in leading cross-functional teams to meet customer demands and deadlines while producing high-quality products that exceed customers' expectations.
Daniel S. Flanigan, General Manager, Ontario Specialty Contracting, Inc. – Daniel S. Flanigan has over 20 years of experience in procuring and managing environmental and nuclear remediation, as well as industrial decommissioning. He has an excellent management ability to promote clear communication and establish a team approach between managers and clients to assure safe, successful, and timely project delivery.
Donald J. Wall, Vice President, Environmental Operations – Donald J. Wall brings with him more than two decades of management experience within the environmental construction and remediation industry. With over 250 projects successfully completed nationwide, Wall has the experience to deliver unrivaled excellence to OSC’s diverse customer base.
Alen Trpevski, Vice President, Industrial Decommissioning – During his 20 years with OSC, Alen Trpevski has demonstrated continued leadership in the areas of demolition, decommissioning and dismantlement, and related disciplines. He is responsible for estimating, project oversight and procurement.
Lawrence Pirrone MBA, Vice President, Brownfield Redevelopment – For 17 years with OSC, Lawrence Pirrone has taken numerous large-scale industrial sites from the decommissioning phase through full re-development, working in conjunction with outside engineering firms to find the highest and best use for the sites post-remediation.
Robert Wegrzyn, Vice President, Business Development – For more than 25 years, Robert Wegrzyn has established and maintained relationships with Fortune 500 companies, international industrial clients, and public and private entities throughout the U.S. on behalf of OSC.
In addition to the executive team, Heather A. Williams will continue serving as the Executive Director of the OSC Charitable Foundation. She manages, vets, selects, and interacts with the various non-profit institutions supported by the foundation.
About OSC Holdings, Inc.
OSC's mission statement today is the same as it was at its founding in 1997: provide the safest, most environmentally sound, and cost-effective solutions for our clients and their unique environmental challenges. To learn more, visit oscinc.com.
Mercom Communications
Wendy Prabhu
Tel: 1-512-215-4452
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WILLISTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services and a provider of proprietary electric vehicle charging platforms, today announced that it has been selected to design and deliver an expected total of 1,780 off-grid solar canopies to be located at EV charging stations.
HIGHLIGHTS:
“iSun has built a platform capable of addressing the needs of each segment of the solar industry, which includes serving the EV infrastructure demands of our new and current customers,” said Jeffrey Peck, Chairman and Chief Executive Officer of iSun. “This award validates not only iSun’s innovative solar canopy products, but also our strategy for addressing the Nation’s EV infrastructure needs. We are constantly striving to introduce innovations that will elevate the EV charging experience and drive the EV industry forward. We’re excited to have our approach validated through this significant contract; we’re looking forward to sharing the iSun experience with consumers.”
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
Forward Looking Statements
This press release includes 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, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR:
Tyler Barnes
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New investment subscription upsizes previously announced PIPE from $100 million to $150 million in conjunction with Energy Vault’s agreement to become a publicly-traded company through merger with Novus Capital Corporation II
Strategic partnership formed with Sun Metals, a wholly owned subsidiary of Korea Zinc, focused on future deployment beginning in mid-2022 of Energy Vault’s proprietary energy storage and energy management software technology to support decarbonization of Sun Metals’ zinc refinery operations
In conjunction with Korea Zinc’s $50 million PIPE commitment, approximately 90% of the minimum cash condition has been satisfied
LUGANO, Switzerland & WESTLAKE VILLAGE, Calif & SEOUL, South Korea & STUART, Australia--(BUSINESS WIRE)--Energy Vault, Inc. (Energy Vault), the company developing sustainable, grid-scale energy storage solutions, today announced a strategic partnership for renewable energy storage with Korea Zinc Co., Ltd. (“Korea Zinc”, KRX 010130) the global leader in non-ferrous metal smelting production including leading positions in Zinc, Lead, Silver and rare metal Indium. The partnership supports Korea Zinc’s strategy to decarbonize their refining and smelting operations focused initially under wholly owned subsidiary Sun Metals Corporation Pty. Ltd. (“Sun Metals”). The companies expect to begin project deployment in mid-2022.
Energy Vault Enters Into Strategic Partnership with Sun Metals
Sun Metals, an Australia-based zinc refinery and a wholly owned subsidiary of Korea Zinc, aims to deploy Energy Vault’s storage and energy management software technology to support renewable power supply and optimization to support their refining infrastructure. The scope of the partnership also includes the potential sustainable and beneficial re-use of tailings and other refining waste materials within Energy Vault’s eco-friendly composite blocks.
Sun Metals is targeting to become one of the first zinc refineries to produce “Green” Zinc in support of their broader strategy to shift to 100% renewable power by 2040 with an interim target of 80% renewable by 2030. Sun Metals’ mission is to be the safest, most environmentally-responsible, and most competitive zinc refinery in the world. In November 2020, the zinc refining leader joined the RE100 Climate Group initiative as part of its commitment to 100% renewable power by 2040. Korea Zinc recently announced Ark Energy Corporation Pty. Ltd. (“Ark Energy”), another wholly owned Australian subsidiary of Korea Zinc, will acquire a 100% interest in a leading utility-scale wind and solar energy developer (Epuron) in Australia which brings more than 9 GW of wind and solar projects with it that will play an important part in meeting or exceeding Sun Metals renewable power goals and supporting Ark Energy’s plans to become the most competitive producer of green hydrogen in the world. Sun Metals is currently the second largest consumer of electricity in Queensland, Australia with greater than 1 terawatt hours of consumption per annum.
“Energy Vault’s innovative storage technology and energy management software platform can play a key role in enabling and accelerating our decarbonization strategy as we enhance our ability to power our operations with renewable energy,” said Yun B. Choi, Vice Chairman of Korea Zinc.
“We are proud to partner with Korea Zinc and Sun Metals to broadly support their clean energy transition within their refining operations,” said Robert Piconi, CEO and Co-Founder, Energy Vault. “Korea Zinc has demonstrated tremendous global leadership as a company in setting aggressive decarbonization targets and then investing significant capital to make sustainable, decarbonized energy a reality for their operations, and that certainly is the case here with their investment in Energy Vault.”
“We look forward to collaborating with Energy Vault in pursuit of our goal to become the first refinery in the world to produce green zinc made entirely from renewable energy,” said Kiwon Park, CEO of Sun Metals. “As the second largest consumer of electricity in Queensland, Sun Metals has a strong focus on being both environmentally responsible and the most competitive zinc refinery in the world.”
New Investment from Korea Zinc Upsizes Novus Capital Corporation II PIPE to $150 Million
In conjunction with its previously announced business combination with Novus Capital Corporation II (NYSE:NXU), Energy Vault announced a $100 million private placement (“PIPE”) investment. In addition to the strategic partnership announced today, Korea Zinc has executed a subscription agreement committing a $50 million investment to Novus’s PIPE.
The new commitment announced today brings proceeds from the PIPE transaction to $150 million. These proceeds, combined with up to $288 million in Novus’s cash trust account, will be used to fund Energy Vault’s operations and support new and existing growth initiatives. Additionally, as a result of this increased PIPE investment, approximately 90% of the minimum cash condition has been satisfied.
Mr. Choi continued, “Our investment in Energy Vault underscores our commitment to advancing the production of metals that are essential for human life in a sustainable way.”
Mr. Piconi added, “This investment from one of the world’s largest metal producers and our partnership agreement with Sun Metals will further accelerate the global scale-up of our innovative energy storage infrastructure and software platform within one of the most important global markets of Australia. Importantly, with the majority of the minimum cash condition satisfied, it also significantly enhances deal certainty, thus allowing the Energy Vault team to remain hyper focused on deployment execution across the globe.”
Korea Zinc joins several other leading investors committed to participate in the Business Combination by investing in the PIPE. The PIPE is anchored by strategic and institutional investors, including funds and accounts managed by Adage Capital Partners LP, Pickering Energy Partners, Sailingstone Capital Energy Transition Strategy Fund, SoftBank Investment Advisers, CEMEX Ventures (NYSE:CX), Palantir Technologies Inc., (NYSE:PLTR) and other investors. Affiliates and associates of Novus Capital also participated in the PIPE investment. This follows the recent Series C funding round previously announced on August 28, 2021 which closed at $107.5 million and included strategic investments from Saudi Aramco Energy Ventures, BHP Ventures, +Volta Energy Technologies and Softbank Vision Fund, among others.
Completion of Energy Vault’s Business Combination with Novus II Capital Corporation is expected in the first quarter of 2022 and is subject to approval by Novus’ stockholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions.
About Energy Vault
Energy Vault develops sustainable energy storage solutions designed to transform the world’s approach to utility-scale energy storage for grid resiliency. Our proprietary gravity-based Energy Storage Technology and the Energy Storage Management and Integration Platform are intended to help utilities, independent power producers and large industrial energy users significantly reduce their levelized cost of energy while maintaining power reliability. Utilizing eco-friendly materials with the ability to integrate waste materials for beneficial re-use, Energy Vault is facilitating the shift to a circular economy while accelerating the clean energy transition for its customers.
Energy Vault previously announced an agreement for a business combination with Novus Capital Corporation II (NYSE:NXU), which is expected to result in Energy Vault becoming a public company listed on the New York Stock Exchange under the ticker symbols “NRGV” and “NRGV WS” in the first quarter of 2022, subject to customary closing conditions.
About Korea Zinc
Korea Zinc Co., Ltd. is a Korea-based world class general non-ferrous metal smelting company principally engaged in the manufacture and marketing of non-ferrous metal products. Korea Zinc owns and operates zinc smelters in Korea and Australia and a lead smelter in Korea and its metal products consist of zinc products, including zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots and zinc die-casting ingots and precious metal products, including gold and silver products. Korea Zinc is leading the world resource market as the global number one in terms of zinc production and market share.
In September 2021, Korea Zinc was the first major refiner in the world to join RE100 and commit to powering its global operations from 100% clean energy by 2050.
Sun Metals Corporation Pty Ltd
Sun Metals is an Australian subsidiary of Korea Zinc Company Limited. Its Zinc Refinery is located 15km south of the city of Townsville in North Queensland, Australia. Korea Zinc group is the largest base metals and precious metals producer in the world, who is considered to have the most advanced technologies of metals refining.
As Queensland’s biggest zinc refinery, Sun Metals produce a Special High-Grade Zinc. In 2018, Sun Metals completed the largest (125MW) integrated industrial used solar plant in Australia. This solar farm generates 24% of the electricity used by Sun Metals.
Sun Metals is committed to the community and is a strong contributor to the local economy. It employs over 350 staff and contractors, primarily from the local community.
Ark Energy Corporation Pty Ltd
Ark Energy was established in 2021 as a new Australian subsidiary of Korea Zinc to decarbonise the energy supply of the Korea Zinc group starting with Sun Metals, accelerating the group’s energy transition as it aims to produce ‘green’ zinc. Ark Energy recently acquired a 100% interest in Epuron Holdings Pty Ltd, a leading utility-scale wind and solar energy developer in Australia with a development pipeline of over 9GW.
Ark Energy is leveraging and expanding on the group’s existing investments across the hydrogen supply chain to become an extreme user, demand creator and major exporter of green hydrogen. Ark Energy’s SunHQ hydrogen hub is the first hydrogen project in Australia to be jointly supported by the Australian Renewable Energy Agency, the Clean Energy Finance Corporation and the Queensland Government. SunHQ has been granted development approval from the Queensland Government and is on track to be commissioned by December 2022.
About Novus Capital Corporation II
Novus raised approximately $287.5 million in its February 2021 IPO and its securities are listed on the NYSE under the ticker symbols “NYSE: NXU, NXU.U, NXU WS.” Novus is a special purpose acquisition company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. Novus Capital is led by Robert J. Laikin, Jeff Foster, Hersch Klaff, Larry Paulson, Heather Goodman, Ron Sznaider and Vince Donargo, who have significant hands-on experience helping high-tech companies optimize their existing and new growth initiatives by exploiting insights from rich data assets and intellectual property that already exist within most high-tech companies.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “designed,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity, expectations and timing related to the rollout of Energy Vault’s business and timing of deployments, including with respect to EVS and its anticipated benefits and capacities, the proposed features and designs of the EVx and the Energy Vault Resiliency Center (EVRC) platforms, the availability of low-cost and locally sourced materials to produce “mobile masses,” customer growth and other business milestones, potential benefits of the proposed business combination and PIPE investment (the “Proposed Transactions”), and expectations related to the timing of the Proposed Transactions.
These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Energy Vault’s and Novus’ management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Energy Vault and Novus.
These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely consummate the Proposed Transactions, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the Proposed Transactions or that the approval of the stockholders of Novus or Energy Vault is not obtained; failure to realize the anticipated benefits of the Proposed Transactions; risks relating to the uncertainty of the projected financial information with respect to Energy Vault; risks related to the rollout of Energy Vault’s business and the timing of expected business milestones; risks related to the inability or unwillingness of Energy Vault’s customers to perform under sales agreements; risks related to Energy Vault’s the performance and availability of EVS; demand for renewable energy; ability to commercialize and sell its solution; ability to negotiate definitive contractual arrangements with potential customers; the impact of competitive technologies; ability to obtain sufficient supply of materials; the impact of Covid-19; global economic conditions; ability to meet installation schedules; construction and permitting delays and related increases in costs; the effects of competition on Energy Vault’s future business; the amount of redemption requests made by Novus’ public shareholders; and those factors discussed in the Registration Statement and in Novus’ Registration Statement on Form S-4 relating to the business combination under the caption “Risk Factors”, and its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 under the heading “Risk Factors,” and other documents of Novus filed, or to be filed, with the SEC.
Important Information About the Proposed Business Combination and Where to Find It
This communication is being made in respect of the proposed merger transaction involving Novus and Energy Vault. Novus has filed a registration statement on Form S-4 with the SEC, which includes a preliminary proxy statement/prospectus of Novus, and certain related documents, to be used at the meeting of stockholders to approve the proposed business combination and related matters. Investors and security holders of Novus are urged to read the proxy statement/prospectus, as well as any amendments thereto and other relevant documents that will be filed with the SEC, carefully and in their entirety because they contain important information about Energy Vault, Novus and the business combination. The definitive proxy statement will be mailed to stockholders of Novus as of a record date to be established for voting on the proposed business combination. Investors and security holders will also be able to obtain copies of the registration statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Novus and its directors and executive officers may be deemed participants in the solicitation of proxies of Novus’ shareholders in connection with the proposed business combination. Energy Vault and its executive officers and directors may also be deemed participants in such solicitation. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Novus’ executive officers and directors in the solicitation by reading Novus’ Annual Report on Form 10-K for the fiscal year ended December 31, 2020, Quarterly Report on Form 10-Q for the six months ended June 30, 2021 and the proxy statement/prospectus and other relevant documents and other materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Novus’ participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction.
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR) announces the following schedule and teleconference information for its fourth quarter 2021 earnings release:
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
DENVER--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) announced today it is making a commitment of $250,000 to support relief efforts underway in the communities affected by the Boulder County wildfires.
“As a leading employer and partner in several Colorado communities, Chevron is committed to helping the region and our neighbors rebuild, recover and heal from the impact of the wildfires,” said Hodge Walker, vice president of Chevron’s Rockies Business Unit, which has operations in Weld County and offices located in both Denver and Greeley. “Our hearts go out to those who have lost their homes, including those within the Chevron family. There is significant recovery work to be done, and Chevron stands by our fellow Coloradans through this difficult time.”
American Red Cross will receive a $150,000 donation and the Community Foundation Boulder County Wildfire Fund will receive a $100,000 donation to support immediate relief efforts throughout impacted neighborhoods. In addition, the company will match qualifying donations to wildfire relief efforts made by employees and retirees, as well as provide financial contributions to organizations where employees volunteer. Together, this financial assistance aims to help Chevron’s employees, families, and local communities during this time of extreme need.
About Chevron Corporation
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
Trudi Boyd (346) 363-9157
Deena McMullen (281) 733-9323
BOSTON--(BUSINESS WIRE)--#BuildingsOfTheFuture--Schneider Electric, the global leader in the digital transformation of energy management and automation, today released a new report analyzing the essential role that digital innovation can play in advancing sustainability and efficiency.
Created in partnership with CNBC Catalyst, Unlocking a sustainable future: Why digital solutions are the key to sustainable business transformation outlines how companies and institutions leverage digital technology to reduce greenhouse gas (GHG) emissions, transition to renewable energy, and build more transparent supply chains.
Notable insights in the report include:
The commitments made during the November UN COP26 climate change meeting will reshape the agenda for global business. An expected acceleration of activity to address climate points toward net-zero emissions as an organizing principle for business. The scale of the climate emergency requires organizations in every industry to mobilize now to boost efficiency. Digital technology presents the straightest path to achieve the ambitious targets outlined in the COP26 agreement.
“The outcomes of COP26 underline the urgent need for businesses to take ownership of sustainability and work towards becoming more energy efficient now,” says Jean-Pascal Tricoire, Chairman and CEO of Schneider Electric. “The next decade will be the one where digital technology puts sustainability ambition into action. With 70% of emissions reduction achievable with existing, proven and competitive technologies, this report is testament to how organizations can apply the digital tools of today to help us arrive at the net-zero future the planet depends on.”
Advanced Artificial Intelligence and machine learning bolster sustainability
Unlocking a sustainable future: Why digital solutions are the key to sustainable business transformation features useful case studies from businesses and institutions, including Swire Properties, Equinix, IBM, IHG Hotels & Resorts, Jacobs, Singapore Management University, Tata Power, and the University of Oxford. It illustrates how these organizations have broken ground on digital efficiency, with key stakeholders relaying their digital sustainability experience.
By integrating human and machine intelligence, the companies featured have capitalized on the ability of algorithms and high-powered computing to create change in essential areas such as energy use, city design, resource consumption, supply chain efficiency, and power generation.
Businesses view digital solutions as crucial in balancing environmental and societal responsibilities
Increased expectations to achieve tangible sustainability gains has raised the bar for businesses. With COP26 emphasizing the need for governments and businesses to be held accountable, progressive companies are fast recognizing that a more sustainable future is crucial to ensuring the long-term viability of their business.
For example, Swire Properties embarked on a long-term decarbonization trajectory focused on reducing the intensity of GHG emissions within its portfolio. Achieving this entailed investment in digitally efficient measurement tools and a partnership with Schneider Electric to model the energy efficiency of its buildings, resulting in a 19% GHG reduction across their portfolio.
Companies stand to gain by viewing sustainability and digitalization as connected transformations
Digital technology investments can create significant business value when deployed with the right partner to drive momentum. With the pandemic confirming the importance of digitization for business continuity, the need for a robust, energy-efficient future has never been more apparent.
This is also signified by companies such as IHG Hotels & Resorts, who supports its franchise partners around the globe to measure and manage their environmental impact using an innovative online platform. Going a step further, the company now has two hotels making strides to decarbonize, with a clear roadmap helping them navigate toward net-zero based on modeling and carbon impact assessments.
Ranked the world’s most sustainable corporation by media and research organization Corporate Knights in 2021, Schneider Electric has played a leading role in developing energy-efficient digital solutions for its customers, including the case studies described in this report. Connected, open and digital technology creates business advantages and provides tangible gains in efficiency and business resilience. This helps customers jointly address their twin mandates to deliver for the environment and shareholders.
Schneider’s top thought leadership content, including reports like Unlocking a sustainable future: Why digital solutions are the key to sustainable business transformation, can be found on the newly launched Schneider Electric Insights website.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights
Hashtags: #LifeIsOn #BuildingsOfTheFuture #IndustriesOfTheFuture #SustainabilityForAll #PartnershipsOfTheFuture
__________________
1 Schneider Electric Sustainability Research Institute, International Energy Agency
Thomas Eck
Schneider Electric
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NEW YORK--(BUSINESS WIRE)--The Metals Company (NASDAQ: TMC) (the “Company” or “TMC”), an explorer of lower-impact battery metals from seafloor polymetallic nodules, today announced the completion of its latest offshore research campaign, Environmental Expedition 5E, a targeted sampling campaign of both benthic and pelagic fauna with wider investigations to characterize ecosystem function on the abyssal seafloor.
The completion of the six-week expedition — the Company’s fifth environmental campaign in the last twelve months — marks the latest offshore campaign required to develop an environmental baseline of the Company’s proposed operating environment in the Clarion Clipperton Zone (CCZ) of the Pacific Ocean and characterize the potential impacts of its proposed nodule collection operations to source critical battery metals from deep-sea polymetallic nodules. In 2022, the Company will conduct an initial Prototype Collector Vehicle manoeuvrability test in the Atlantic Ocean, followed by pilot collection system trials in the CCZ later in the year.
Aboard the Maersk Launcher were researchers from some of the world’s leading marine science institutions including the UK National Oceanography Centre (NOC), Japan Agency for Marine-Earth Science & Marine Technology (JAMSTEC), Natural History Museum (London), Heriot-Watt University and the University of Gothenburg, who deployed a range of cutting-edge technologies including a Remotely Operated Vehicle (ROV) and an array of seafloor landers.
Over the course of more than 390 ROV operational hours, researchers from the UK National Oceanography Centre conducted visual observations of over 30-square-kilometers of seafloor, capturing more than 35,000 high-resolution images and extensive video data which will be used to identify megafauna at depths of 4,000 meters. Whereas prior campaigns utilized randomised boxcore sampling to obtain macrofaunal samples, the technologies used for Expedition 5E allowed the team to conduct highly targeted sampling of benthic macro and megafauna and to focus on species of particular scientific interest.
To explore the gelatinous communities that occupy the midwater column , the pelagic team led by JAMSTEC supplemented traditional sampling methods such as nets with ROV mounted video to conduct 130 video transects at various depths, and used specialized D-samplers and the ROV’s suction sampler to collect specimens.
A team led by Heriot-Watt University used an array of seafloor landers, including seabed respirometers and baited traps and cameras, to collect a wide range of data to assess ecosystem function on the abyssal seafloor. In total, just under 1,200 tissue and specimen samples were collected throughout the campaign, contributing to a variety of baseline studies including DNA and morphological taxonomy, population genetics, ecotoxicology and ecosystem function.
Gerard Barron, CEO & Chairman of The Metals Company, said: “With five research campaigns under our belts in the last twelve months, the all-star research teams we’ve brought together are helping build a high-resolution picture of the potential impacts of collecting nodules. This data will enable our engineering and project teams to optimize our activities for low impact and ensure that we lift the nodules to the surface with the lightest possible touch.”
Planet’s largest known source of battery metals
TMC’s NORI-D nodule project — recently ranked as the #1 nickel project in the world by Mining.com — is the first in the Company’s project development pipeline. In January, The Metals Company published an upward revision to the nodule resource reported within the NORI-D area held by its subsidiary, Nauru Ocean Resources Inc. (NORI), improving resource confidence from ‘inferred’ to ‘indicated’ status. Resource tonnage increased by 7% over the reported area from 320Mt inferred to 341Mt indicated. The positive conversion rates arising from infill sampling grid with quality box core sample data are high compared to the typical outcomes from infill sampling of terrestrial mineral deposits.
As countries invest in large-scale clean energy transition programs and begin to phase out internal combustion engines, hundreds of millions of tons of critical battery metals will be needed to decarbonize the world’s energy and transport systems, according to the International Energy Agency. As noted in a recent report by the International Renewable Energy Agency, polymetallic nodules can “substantially change the supply outlook for several critical materials,” including nickel and cobalt.
About The Metals Company
TMC the metals company Inc. (The Metals Company) is an explorer of lower-impact battery metals from seafloor polymetallic nodules, on a dual mission: (1) supply metals for the clean energy transition with the least possible negative environmental and social impact and (2) accelerate the transition to a circular metal economy. The company through its subsidiaries holds exploration rights to three polymetallic nodule contract areas in the Clarion Clipperton Zone of the Pacific Ocean regulated by the International Seabed Authority and sponsored by the governments of Nauru, Kiribati and the Kingdom of Tonga. More information is available at www.metals.co.
Forward Looking Statements
Certain statements made in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. The forward-looking statements contained in this press release include, without limitation, TMC’s expectations with respect to the success of its research campaign Environmental Expedition 5E, the results or outcomes of the campaigns and expeditions and the data generated during Environmental Expedition 5E respectively. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside TMC’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: regulatory uncertainties and the impact of government regulation and political instability on TMC’s resource activities; changes to any of the laws, rules, regulations or policies to which TMC is subject; the impact of extensive and costly environmental requirements on TMC’s operations; environmental liabilities; the impact of polymetallic nodule collection on biodiversity in the CCZ and recovery rates of impacted ecosystems; TMC’s ability to develop minerals in sufficient grade or quantities to justify commercial operations; the lack of development of seafloor polymetallic nodule deposit; uncertainty in the estimates for mineral resource calculations from certain contract areas and for the grade and quality of polymetallic nodule deposits; risks associated with natural hazards; uncertainty with respect to the specialized treatment and processing of polymetallic nodules that TMC may recover; risks associated with collective, development and processing operations; fluctuations in transportation costs; testing and manufacturing of equipment; risks associated with TMC’s limited operating history; the impact of the COVID-19 pandemic; risks associated with TMC’s intellectual property; and other risks and uncertainties, including those in the “Risk Factors” sections, included in the final prospectus and definitive proxy statement, dated and filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2021 relating to the business combination, in TMC’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, filed by TMC with the SEC on November 15, 2021, and in TMC’s other future filings with the SEC. TMC cautions that the foregoing list of factors is not exclusive. TMC cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. TMC does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based except as required by law.
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Unique Natural Gas Liquids Pipeline Data Drives Transparency in Energy Markets
GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--#Bloomberg--East Daley Analytics, Inc. announced today that its unique Pipeline Financial Dataset is now available through Bloomberg’s Enterprise Access Point. The Pipeline Financial Dataset provides consolidated historical Federal Energy Regulatory Commission (FERC) financial pipeline data (back to 2005) updated weekly to handle late and revised quarterly filings. The financial data has also been enhanced with metadata layers that give ownership percentages and Legal Entity Identifiers (LEIs) at the asset and ownership levels offering clients a variety of ways to use the data.
“This unique dataset on Bloomberg provides analysts with transparency into due diligence projects and the impact to companies,” said Andy Ptacek, senior director of analytics at East Daley. “Working with Bloomberg speeds up time to value for our clients by reducing costly and lengthy operations of procurement processes.”
The Pipeline Financial Dataset is comprised of income statements, statement of cash flows, and balance sheets for natural gas, crude, natural gas liquids (NGL), and refined products pipelines organized into a more commonly accepted accounting format than the raw governmental presentation so it can be directly inputted into financial models. Key features include:
“Another advantage of getting this information via East Daley and Bloomberg Enterprise Access Point is that it includes FERC data from further back into history as well as for 1Q2021 and 2Q2021,” added Ptacek. “This data has been more challenging to access since FERC changed the reporting requirement from Visual FoxPro to XBRL for a number of their forms effective October 1, 2021.”
As a trusted source of data, Bloomberg helps clients easily integrate high-value data in context within their analytics and workflows. Bloomberg has been providing a variety of alternative datasets through the Bloomberg Terminal for over a decade. More recently, some of these data sets were made available through Bloomberg's Data License product.
Bloomberg Enterprise Access Point is Bloomberg’s web-based data marketplace that allows Data License clients to easily discover, access and immediately use high quality, market leading content from both Bloomberg and third-party providers. Recently, Bloomberg announced the expansion of its alternative data offering, representing a three-fold increase in the number of third-party alternative data vendors available since the product’s introduction in February 2019. The move allows Bloomberg clients to access a much-expanded catalogue of curated alternative data, uniquely positioned to provide insights in today's market environment.
About East Daley Analytics, Inc.
East Daley Analytics specializes in identifying, understanding, and monitoring operational risk at the asset level and how that translates to operational risk. We have built the largest U.S. energy asset database to cash flow to help identify which assets are most important and isolate their operational value. We can help with the heavy lifting by providing access to capital and commodity market experts through both subscription and advisory services. For more information visit https://eastdaley.com.
East Daley Analytics, Inc.
Meredith Bagnulo
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303-513-7494
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today said it made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.
The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water and is located approximately 11 miles (18 kilometers) northwest of the Liza field. The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high-quality hydrocarbon-bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water and is located approximately 42 miles (68 kilometers) southeast of the Liza field.
These discoveries will add to the previously announced recoverable resource estimate for the block, of 10 billion oil-equivalent barrels.
“Initial results from the Fangtooth and Lau Lau wells are a positive sign for Guyana and continue to demonstrate the potential for the country’s growing oil and gas sector, ExxonMobil and our co-venturers in the Stabroek block,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil.
“The Fangtooth discovery is a successful result of our strategy to test deeper prospectivity, and the Lau Lau discovery adds to the large inventory of development opportunities in the southeast part of the Stabroek block. Both discoveries increase our understanding of the resource, our continued confidence in the block’s exploration potential, and our view that the many discoveries to date could result in up to 10 development projects,” added Cousins.
Fangtooth was drilled by the Stena DrillMAX, and Lau Lau was drilled by the Noble Don Taylor, which are two of six drillships supporting exploration and development drilling across three blocks operated by ExxonMobil offshore Guyana.
Separately, progress continues on infrastructure for future field development. The Liza Unity floating production storage and offloading (FPSO) vessel is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in the first quarter of 2022 and has a target of 220,000 barrels of oil per day at peak production.
The hull for the Prosperity FPSO vessel, the third project on the Stabroek block at the Payara field is complete and topside construction activities are ongoing in Singapore for planned production start-up in 2024. The Field Development Plan and Environmental Impact Assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review.
These new projects continue to drive investment in Guyana’s growing economy. More than 3,200 Guyanese are now employed in supporting project activities, and ExxonMobil and its key contractors have spent more than $540 million with more than 800 local companies since 2015.
The Stabroek block is 6.6 million acres (26,800 square kilometers). ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest. Hess Guyana Exploration Ltd. holds 30% interest and CNOOC Petroleum Guyana Limited holds 25% interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement
Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, schedules, capacities, production rates, timing, and resource recoveries could differ materially due to: changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments including obtaining necessary regulatory permits; restrictions in trade, travel or broader government responses to current or future waves of COVID-19; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of commercial negotiations; unexpected technological breakthroughs or challenges; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com and under Item 1A. Risk Factors in our annual report on Form 10-K. References to “recoverable resource” include quantities of oil and gas that are not yet classified as proved reserves under SEC rules but that are expected to be ultimately recoverable.
ExxonMobil Media Relations
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DUBLIN--(BUSINESS WIRE)--The "Oil & Gas Start-Up Tracker - Issue 21" report has been added to ResearchAndMarkets.com's offering.
This issue in our series of studies to track and evaluate the impact of start-ups and dynamic companies, looks specifically at 6 dynamic firms that are making a significant impact on the innovation agenda for CCUS.
With the rising importance of sustainability and the increasingly urgent prioritization of decarbonization technologies and solutions, the carbon capture, utilization, and storage (CCUS) market is poised for rapid growth.
The acceleration of the energy transition is creating a landscape of innovation and disruption, and the CCUS market will provide dynamic growth opportunities for companies of different sizes and backgrounds.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Environment
3. Companies to Action
4. Growth Opportunity Universe
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/hu4dlk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Fourth Quarter Futures & Options ADV +16% y/y including Energy +17% y/y
Record annual volume across Brent, Heating Oil, TTF gas and Global Environmentals
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported December, Fourth Quarter and Full Year 2021 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.
“Throughout 2021, and particularly during the fourth quarter, we saw consistently high volumes as customers navigated volatile gas and carbon markets, as well as interest rate uncertainty,” said Ben Jackson, President of ICE. “In periods such as these, our diverse and liquid futures markets are mission critical for companies to manage their risk, and the resulting impact on end consumers.”
Highlights include:
Notes:
1 Interest rate ADV has been adjusted to reflect a common contract size between Sterling and SONIA for comparison purposes.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
SOURCE: Intercontinental Exchange
ICE-CORP
ICE Investor Relations Contact:
Mary Caroline O’Neal
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-- New Initiative Helps JetBlue’s Corporate Travel Partners Fast Track Their Companies’ Sustainable Travel Targets with Options to Help Purchase Sustainable Aviation Fuel, Receive Complimentary Carbon Offsetting and Personalized Emissions Reporting --
-- JetBlue Partners With Launch Customers: Biogen, Deloitte, ICF, and Salesforce to Accelerate the Path Toward Sustainable Aviation and Reducing a Combined 2,730 Metric Tons of CO2e Emissions –
NEW YORK--(BUSINESS WIRE)--JetBlue (Nasdaq: JBLU) today announced the launch of its “JetBlue Sustainable Travel Partners” program, and its inaugural customers, Biogen, Deloitte, ICF, and Salesforce, a suite of offerings to help corporate travel customers reduce their business travel emissions and meet their own corporate sustainability targets. In keeping with JetBlue’s customer focus, the airline is approaching sustainable travel as a partnership by providing its corporate travelers with personalized data and resources to help them enhance the sustainability of their travel. JetBlue has a long history of taking meaningful and measurable steps in reducing aviation’s contribution to climate change and is now inviting its corporate partners to join in this mission.
The Sustainable Travel Partners program offers corporate partners the following resources:
JetBlue Sustainable Aviation Fuel (SAF) Certificates
SAF is a synthetic jet fuel produced from renewable biological resources that can be replenished rapidly and without impacting food supply. Compared to traditional petroleum-based Jet-A fuel, SAF can emit up to 80 percent less CO2 over its lifecycle when used in neat form and reduces air pollutants such as particulate matter and sulfur oxides. SAF drops into existing engines and infrastructure and is ASTM certified when blended up to 50-50 with fossil Jet-A fuel. With more than a 10 year track record of safe use in aircraft, SAF is recognized as the most promising solution to mitigate air transport emissions currently available.
JetBlue has been flying regularly on SAF as a component of its fuel supply from its partners Neste out of San Francisco International Airport (SFO) since July 2020 and World Energy (SAF producer) and World Fuel Services (logistics supplier) out of Los Angeles International Airport (LAX) since July 2021. JetBlue recently shared industry-leading plans to speed up its transition to SAF with a deal with its partner SG Preston that will bring 67 million gallons of blended SAF a year to the Northeast over 10 years. Following this agreement, JetBlue leads the airline industry in committed SAF off-take based on a percentage of total fuel at roughly 8% and is on track to meet its goal of converting 10% of its total fuel use to SAF years ahead of its 2030 target.
Through the purchase of SAF certificates, JetBlue customers now have the ability to directly and meaningfully reduce their business travel emissions. Business travel emissions, categorized as “Scope 3” emissions, are indirect emissions customers are not directly responsible for but that exist within the value chain, such as those produced through corporate travel. By purchasing SAF certificates, our corporate customers may reduce their reported carbon footprint, while helping cover the cost premium of SAF that exists today - thereby growing the share of SAF JetBlue is able to source while helping stimulate the emerging SAF market that is critical for the aviation industry to reach its net zero goals. Through the Sustainable Travel Partners program, our partners are helping source roughly 325,000 gallons of SAF, helping reduce 2,730 metric tons of CO2 emissions.
Complimentary Domestic Carbon Offsetting
In July 2020, JetBlue became the first US airline to voluntarily offset the CO2 emissions from jet fuel for all its domestic flights. All of JetBlue’s purchased carbon offsets are audited, verified and retired on the airline’s behalf from its three expert carbon offsetting partners Carbonfund.org, EcoAct, and South Pole. As part of its offsetting portfolio, JetBlue selects projects around the globe focused on forestry, landfill gas capture, solar, and wind projects that reduce or avoid CO2 emissions. As Sustainable Travel Partners, JetBlue’s customers can benefit from enhanced reporting on our complimentary carbon offsets, as well as review opportunities to expand offsetting utilizing JetBlue’s offsetting expertise and business partners.
Emissions Travel Data and Analysis
Historically, business travelers have not had the ability to estimate their air travel emissions in a personalized, accurate, or granular way. Through the Sustainable Travel Partners program, JetBlue is saving partners the effort of inaccurate guesswork by offering emissions reporting based on travelers’ actual flying and JetBlue’s average actual fuel burn on those routes. JetBlue’s intent is to provide our partners with more accurate emissions reporting by sharing actual operational data, as well as incorporating the airline’s own emissions reduction initiatives into emissions reporting. JetBlue is also working to include travel emissions data into Salesforce’s Net Zero Cloud with hopes of making this available to the airline’s Sustainable Travel Partners. For corporate customers who purchase SAF certificates, JetBlue will also provide emissions reporting highlighting the estimated emissions reduction associated with the SAF.
Sustainable Tools and Consultation
JetBlue Sustainability and Corporate Sales representatives have developed guidance and are available for personalized conversations to help JetBlue’s business customers develop strategies to reduce their emissions associated with their organization’s business travel. This includes helping set emissions reduction targets associated with their business travel and recommending actions to promote more sustainable travel decisions to achieve these goals.
“As our business customers return to the skies, they increasingly have been asking for our support in meeting their net zero and sustainable travel goals," said Sara Bogdan, director of sustainability and environmental social governance, JetBlue. “JetBlue has extensive expertise in decarbonizing air travel thanks to our early and leading commitments and supply agreements. We’re now extending these options to our corporate customers so that, for the first time, they can play a direct role in enhancing the sustainability of their air travel when flying with JetBlue. We’re proud to introduce the Sustainable Travel Partners program to help our business customers set and achieve their sustainable travel targets.”
Partner Quotes
“Climate action is essential for human and planetary wellbeing,” says Alphonse Galdes, Ph.D., Head of Pharmaceutical Operations and Technology at Biogen. “Yet, if we hope to make a substantive impact in this area, we all must come together – across industries – to re-examine the way we work, the way we live and the way we consume energy. By becoming an inaugural member of JetBlue's Sustainable Travel Partner Program, we at Biogen are proud to reduce our dependency on fossil fuels and their associated impacts, as well as utilize more accurate data to inform travel decisions in the future.”
“Deloitte is committed to driving responsible climate choices,” said Scott Corwin, Managing Director and US Leader for Sustainability and Climate Change at Deloitte LLP. “By coming together with JetBlue, we are another step closer to reducing our travel emissions and achieving a more sustainable future.”
“As the first professional services firm in the world to reach carbon neutral status in 2006, sustainability is part of our company’s DNA,” said ICF President, Chair and CEO John Wasson. “As we continue to pursue our own ambitious carbon reduction targets, we’re thrilled to partner with JetBlue to help other companies achieve their sustainability targets, too.”
"We are proud to join JetBlue's Sustainable Travel Partners program to help accelerate the aviation industry's journey to net zero," said Patrick Flynn, VP and Global Head of Sustainability at Salesforce. "The urgency of this climate emergency means we need all-of-the-above strategies. For us that includes helping incentivize emerging clean technologies like Sustainable Aviation Fuels and working with partners like the Sustainable Aviation Buyers Alliance to lower barriers to scale and cost reduction."
JetBlue’s Decarbonization Strategy
JetBlue is taking bold steps to address its emissions and reduce its contribution to climate change. In 2020, JetBlue became the first US airline to voluntarily offset CO2 emissions on all its domestic flights. To date, the airline has offset more than 6 million metric tons of CO2. Upon launching this initiative, JetBlue has been very transparent that it views carbon offsetting as a short-term solution while the industry builds up lower-carbon solutions. The airline has therefore been very aggressive in growing solutions that have a more direct reduction in air travel emissions, such as making large commitments to the purchase of SAF. JetBlue recently shared plans to speed up its transition to SAF with a deal that will bring 67 million gallons of SAF a year to the Northeast over 10 years, putting the airline well ahead of pace to reach its target to convert 10 percent of its total fuel usage to SAF on a blended basis by 2030.
While JetBlue views SAF and carbon offsetting as promising solutions in addressing aircraft emissions, these are just two pieces of JetBlue’s larger decarbonization strategy, which currently also includes aircraft efficiency, fuel optimization, electric ground operations and technology partnerships.
Industry Collaboration
The Sustainable Travel Partners Program represents the next step as JetBlue collaboratively works with its many partners to accelerate solutions to decarbonize aviation. In November, JetBlue announced it had joined Sustainable Aviation Buyers Alliance (SABA), a joint initiative with Rocky Mountain Institute (RMI), Environmental Defense Fund (EDF), and a forward-looking group of corporate travelers and U.S. airlines to help drive investment in high-integrity SAF. In October, JetBlue joined as a launch member of the Aviation Climate Taskforce, a new non-profit organization founded to accelerate breakthroughs in emerging technologies to decarbonize aviation, alongside 9 other global airlines and Boston Consulting Group (BCG).
To join JetBlue’s Sustainable Travel Partner program, visit https://www.jetblue.com/sustainability/sustainable-travel-partners.
For more information on JetBlue’s sustainability and ESG strategy, read the 2019-2020 ESG Report which can be found here.
JetBlue’s Focus on the Environment
JetBlue depends on natural resources and a healthy environment to keep its business running smoothly. Natural resources are essential for the airline to fly, and tourism relies on having beautiful, natural and preserved destinations for customers to visit. The airline focuses on issues that have the potential to impact its business. Customers, crewmembers and community are key to JetBlue's sustainability strategy. Demand from these groups for responsible service is one of the motivations behind changes that help reduce the airline’s carbon output and overall environmental impact. For more on JetBlue’s sustainability initiatives, visit www.jetblue.com/sustainability.
About JetBlue Airways
JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan. JetBlue carries customers across the U.S., Caribbean and Latin America, and between New York and London. For more information, visit jetblue.com.
Media
JetBlue Corporate Communications
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NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today announced two significant discoveries at the Fangtooth-1 and Lau Lau-1 wells on the Stabroek Block offshore Guyana. These discoveries will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 10 billion barrels of oil equivalent.
The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high quality oil bearing sandstone reservoirs. The well was drilled in 6,030 feet (1,838 meters) of water by the Stena DrillMAX and is located approximately 11 miles (18 kilometers) northwest of the Liza Field.
The Lau Lau-1 well encountered approximately 315 feet (96 meters) of high quality hydrocarbon bearing sandstone reservoirs. The well was drilled in 4,793 feet (1,461 meters) of water by the Noble Don Taylor and is located approximately 42 miles (68 kilometers) southeast of the Liza Field.
“We are excited to announce two more significant discoveries on the Stabroek Block,” CEO John Hess said. “Positive results at Fangtooth, our first standalone deep exploration prospect, confirm the deeper exploration potential of the Stabroek Block. Both discoveries further underpin our queue of future low cost development opportunities. We continue to see the potential for at least six FPSOs on the Stabroek Block in 2027 with a production capacity of more than 1 million gross barrels of oil per day, and up to 10 FPSOs to develop the discovered resources on the block.”
Separately, the Liza Unity floating production storage and offloading (FPSO) vessel is undergoing hookup and commissioning after arriving in Guyanese waters in October 2021. The Unity is on track to start production in the first quarter of 2022 with a production capacity of approximately 220,000 gross barrels of oil per day.
The hull for the Prosperity FPSO vessel, the third development on the Stabroek Block at the Payara Field, is complete and topside construction activities are ongoing in Singapore for planned production start-up in 2024. The Field Development Plan and Environmental Impact Assessment for the fourth potential project, Yellowtail, have been submitted for government and regulatory review.
The Stabroek Block is 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Petroleum Guyana Limited holds 25 percent interest.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.
Cautionary Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation, the expected number, timing and completion of our development projects and estimates of capital and operating costs for these projects; estimates of our crude oil and natural gas resources and levels of production; and our future financial and operational results. Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices or demand for crude oil, NGLs and natural gas, including due to the global COVID-19 pandemic or the outbreak of any other public health threat, or due to the impact of competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves and in achieving expected production levels, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions; inherent uncertainties in estimating quantities of proved reserves and resources; changes in laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures which we may not control; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; potential disruption or interruption of our operations due to catastrophic events, including the global COVID-19 pandemic; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission. As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.
We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the oil and gas disclosures in Hess Corporation’s Form 10-K, File No. 1-1204, available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our website at www.hess.com. You can also obtain this form from the SEC on the EDGAR system.
Investor Contact:
Jay Wilson
(212) 536-8940
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Media Contact:
Lorrie Hecker
(212) 536-8250
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DUBLIN--(BUSINESS WIRE)--The "Chemical logistic Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2027" report has been added to ResearchAndMarkets.com's offering.
The report predicts the global chemical logistic market to grow with a CAGR of 5.5% over the forecast period from 2021-2027
The report on the global chemical logistic market provides qualitative and quantitative analysis for the period from 2019 to 2027. The study on chemical logistic market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and RoW for the period of 2019 to 2027.
The report on chemical logistic market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global chemical logistic market over the period of 2019 to 2027. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global chemical logistic market over the period of 2019 to 2027. Further, Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.
Segment Covered
The Global Chemical Logistic Market by Mode of Transportation
The Global Chemical Logistic Market by Service
The Global Chemical Logistic Market by End Use Industry
Company Profiles
Key Topics Covered:
1. Preface
2. Executive Summary
3. Global Chemical Logistic Market Overview
4. Chemical Logistic Market Macro Indicator Analysis
5. Global Chemical Logistic Market by Mode of Transportation
6. Global Chemical Logistic Market by Service
7. Global Chemical Logistic Market by End Use Industry
8. Global Chemical Logistic Market by Region 2021-2027
9. Company Profiles and Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/szj2ux
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Sarawak Energy to Deploy 180,000 Advanced Metering Infrastructure Endpoints, Take Advantage of Network-as-a-Service
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#AMI--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that Syarikat SESCO Berhad (SESCO), a subsidiary of Sarawak Energy, an energy development and vertically integrated electrical utility company located in Sarawak, Malaysia, signed a contract to deploy Itron’s industrial IoT (IIoT) solution. The solution, which will help Sarawak Energy improve operational efficiency and consumer engagement, includes Itron’s communications network for 180,000 Advanced Metering Infrastructure (AMI) endpoints as well as Operations Optimizer and UtilityIQ (UIQ) Software-as-a-Service. As part of the 15-year contract, Sarawak Energy will leverage Itron’s Network-as-a-Service (NaaS) to deploy, monitor and maintain the communications network.
In 2018, Sarawak Energy collaborated with Itron on a project to deploy and operate Itron’s IIoT network, including a pilot for 6,000 AMI endpoints. With the successful implementation of the pilot, Sarawak Energy has now progressed to the next phase and awarded Itron with an expanded deployment of 180,000 AMI endpoints. As a NaaS contract, Itron will manage the network and the UIQ headend software suite on Sarawak Energy’s behalf to collect and manage consumption data. Sarawak Energy will also utilize Itron’s Operations Optimizer analytics solution to improve operational efficiency and develop business processes and workflows by leveraging insights from a variety of internal and external data sources.
“With our open, standards-based network, Sarawak Energy will be able to easily and efficiently improve customer service, safety and operational efficiency,” said Don Reeves, senior vice president of Outcomes at Itron. “With such a high success rate from our pilot deployment in 2018, we are thrilled to continue the expansion of this project with our long-term customer, Sarawak Energy.”
About Sarawak Energy
Sarawak Energy is an energy development company and a vertically integrated power utility with a vision to achieve sustainable growth and prosperity for Sarawak by meeting the region's need for reliable and renewable energy—providing electricity to 3 million Sarawakians in urban and rural areas.
With 100 years of experience, Sarawak Energy aspires to become a digital utility by 2025 and has embarked on a mission to continuously improve their service by integrating the latest technologies and best industry practices, while continuing to offer a safe, reliable and the most competitively priced power in the region.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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RICHMOND, Va.--(BUSINESS WIRE)--Integrated Global Services, Inc. (IGS, www.integratedglobal.com), a leading provider of thermal spray surface protection solutions and portfolio company of investment affiliates of J.F. Lehman & Company (“JFLCO”), is pleased to announce it has acquired GE Steam Power’s on-site thermal spray coatings technology, AmStar. AmStar’s 888 material and related corrosion- and erosion-resistant coatings offer a proven track record of reliable pressure part protection throughout the Power Generation industry for over two decades.
“This is tremendous news for our customers,” said Rich Crawford, President and CEO of IGS. “We are excited to further enhance IGS’s broad portfolio of bespoke solutions by acquiring the patented AmStar 888 technology. This combined solution set provides historical customers with an expanded offering to address their surface solution needs. Our acquisition of Amstar represents another step in IGS’s mission to be the most valued provider of engineered solutions in the world for mission-critical equipment, and our ongoing commitment to support GE customers in the U.S., Europe, South America, and Asia.”
Integrated Global Services
Based in Richmond, VA, IGS is an international, private equity-backed company with over 30 years of experience in providing in-situ internal thermal spray surface protection solutions, internal ceramic coating solutions, and environmental products that focus primarily on metal wastage reduction, corrosion mitigation, process efficiency improvements and emissions reduction. Specializing in customized, engineered solutions, IGS is the largest provider of in-situ thermal spray and ceramic surface protection.
IGS maintains global operations with locations across the U.S., Canada, Europe, the Middle East, Africa, and Asia.
For more information on our global service capabilities, along with details on how to contact IGS personnel who can support your needs, refer to the IGS website at www.integratedglobal.com/contact-us/ or through email to This email address is being protected from spambots. You need JavaScript enabled to view it..
Marina Silva
International Marketing Manager
M: +44 7407805620
T: +1 888 506 2669
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SAN FRANCISCO--(BUSINESS WIRE)--#carboncredits--NCX, the science-driven forest carbon marketplace delivering large-scale, immediate impact for climate and communities, announced the appointment of Dr. Jennifer Jenkins as Chief Sustainability Officer effective August 2021. Dr. Jenkins is broadly responsible for shaping and sharing the scientific integrity of NCX’s programs. Her work includes the development and approval of certified carbon offset methodologies and working with academic and stakeholder communities to ensure offset quality and development of new approaches to valuing ecosystem services such as wildlife habitat quality, wildfire risk reduction, and water quality.
“We are thrilled to have Dr. Jen Jenkins join the NCX team,” said NCX Co-founder and CEO Zack Parisa. “NCX is dedicated to ensuring accountability and transparency as we forge natural capital markets that work for all. This is critical work for the climate and communities that calls for unparalleled expertise, and we could think of no one better suited to help us deliver on that than Dr. Jenkins.”
Dr. Jenkins has more than 25 years of experience in government, academia and the private sector at the intersection of forests and climate. In 2007, along with former Vice President Al Gore, she was part of the IPCC team of scientists that won the Nobel Peace Prize for their work on climate, and led the work that culminated in the “Jenkins Equations,” which are the generally-accepted method for estimating tree biomass from diameter in the US.
Prior to joining NCX, Dr. Jenkins held various roles in academia and government, including as a Research Professor at the Gund Institute for Ecological Economics at the University of Vermont, Research Forester at the USDA Forest Service Northern Global Change Program, and in climate policy at the USEPA Climate Change Division. From 2016 to 2021, she served as Vice President and Chief Sustainability Officer at Enviva. Dr. Jenkins holds a Ph.D. in ecosystem ecology from the University of New Hampshire, a Master of Business Administration from the RH Smith School of Business at the University of Maryland, a Master of Forest Science from Yale University, and a Bachelor of Arts in biology and environmental studies from Dartmouth College.
To learn more about the NCX marketplace, watch the on-demand webinar, “Designing forest carbon markets for massive climate impact here.”
About NCX
NCX is the science-driven forest carbon marketplace delivering large-scale, immediate impact for climate and communities. By using high integrity data to generate carbon credits that connect corporations to family forests, NCX is democratizing access to markets while enabling real climate action. In 2021 NCX broke records for the largest forest carbon project by acreage in the contiguous United States.
Cheryl Sansonetti, Director of Marketing
NCX
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OSLO, Norway & NEW YORK--(BUSINESS WIRE)--Capricorn Investment Group makes their first move into the Nordic venture space with their investment in Norselab, an Oslo-based European impact investment manager for private capital.
“With their thoughtful approach to innovative impact investments, Norselab stands out as an ideal partner to expand our presence into the Nordics and Europe. We are thrilled to help scale their impact investment platform,” says Michaela Edwards, Partner at Capricorn Investment Group.
Edwards is the partner in charge of the investment into Norselab. The deal, offering Capricorn’s Sustainable Investment Fund a 20% stake in Norselab, relied heavily on their belief in the team and the structure that they have built.
“The team behind Norselab has an outstanding track record in building and scaling tech companies, in addition to a clear ambition to build a larger ecosystem of funds. These were key factors weighing in on our investment decision,” adds Edwards.
Both firms share the belief that impact investments will offer the best opportunities over the coming decades. Through investment into companies that target industries in need of transformation, Norselab aims to ignite disruption, and to create potential for solid returns and massive impact.
Unexplored opportunities in the Nordics
Capricorn’s investment in Norselab marks its first, strategic move into the Nordics. According to Edwards, the Nordics are still unexplored territory from a global perspective, and offer plentiful opportunities for both impact and high returns. She highlights that Norway, with its ongoing green shift and hunger for innovation, offers a great location from which Norselab can expand to Europe.
Building system value
Norselab launched its first impact-focused venture fund, Meaningful Equity I, in 2020. On the back of a solid tailwind in terms of market trends and deal flow, the impact investor is expanding its platform with several new funds. This means a significant upscaling of the organization where creating system value through knowledge sharing is the key to accelerate growth and value creation across the ecosystem.
“Our partnership with Capricorn Investment Group will connect us with their globally leading impact investment ecosystem. Being part of their impact funds also means that our portfolio companies will gain greater access to international resources, co-investors and talents,” says Yngve Tvedt, Norselab Founder and Chief Investment Officer.
Uncompromising on impact
Tvedt adds that Capricorn’s solid impact profile was decisive for Norselab’s decision to bring on board a larger capital partner.
“Impact is at the heart of our investment philosophy, and core to the products and services of the companies we invest in. We want to build Norselab into a leading European impact investment platform, and believe Capricorn is a match made in heaven for scaling Norselab while staying true to our fundamental DNA,” says Tvedt.
With the Sustainable Investment Fund, Capricorn Investment Group aims to back purpose-built investment managers with an authentic vision around impact.
“We’re not in business to create incremental change, we are aiming to drive systemic change,” comments Edwards.
A fit-for-scale platform
Norselab’s CEO, Erik Syvertsen, explains how they created an international fund platform for venture investments with the building blocks that most market participants would recognize from larger institutional structures.
“As we established our first fund, we knew that a robust infrastructure with scalability would be essential if we were to have international ambitions both in terms of deal flow and the ability to attract capital. Capricorn recognized the value in the ecosystem we are aiming to build in and around Norselab. It’s a privilege for us to work with a capital partner that is aligned with our values and ambitions across the board,” says Syvertsen.
Norwegian capital partners joining the party
Two significant Norwegian capital partners are also part of the deal. Long-term Norselab investor Ness, Risan & Partners, invests in the impact investment platform to offer Norselab’s attractive impact products to their large Nordic customer base. Joakim Lehmkuhl is also among the new capital partners. His connection to international investor groups will give the Norselab team solid traction to scale its platform out of Norway.
About Capricorn
Capricorn is one of the largest mission-aligned firms in the world, and has since its inception in 2000 grown to manage more than $10 billion in multi-asset classes for foundations and institutional investors, through their range of impact-focused fund products. Their Sustainable Investors Fund (SIF) is a private equity partnership whose investment objective is to create significant value through ownership and early stage investment in public and private asset managers who incorporate sustainability as a key driver of investment returns.
The firm has offices in New York City and Palo Alto, and was born from a belief that sustainable investment practices can enhance risk-adjusted returns. Underlying this investment approach is a deep desire to demonstrate the huge investment potential that resides in breakthrough commercial solutions to the world’s most pressing problems.
About Norselab
Norselab is a leading impact investment platform based out of Oslo, Norway. With an uncompromising focus on net positive impact, Norselab invests in fast-growing, meaningful companies that ignite radical changes in traditional industries.
Norselab established their internationally regulated fund structure in 2020, and closed their first venture fund, Norselab Meaningful Equity I, in 2021. Norselab is currently scaling up its activities, and plans to launch several new funds in 2022, all with impact at their core.
About Ness, Risan & Partners
Ness, Risan & Partners AS (NRP) is an independent and privately-owned investment firm. Its clients include family offices, private investors, investment companies, foundations, trusts and institutional investors. NRP offers direct investment and fund solutions within the real estate, shipping and offshore sectors. The company was founded in 2000 by Christian Ness and Ragnvald Risan, and has more than 70 employees and an AUM of more than $ 1Billion.
Interviews on request.
Media contact:
Maria de Perlinghi
Partner, Impact & Communications at Norselab
+47 92221959
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