Hyosung TNC successes in development and utilization of nylon as a Liner material for hydrogen fuel tanks for the first time in Korea
Lighter material than metal and conventional plastic materials, and excellent hydrogen leakage cut-off effect
The perfect substitution in the monopoly market of foreign companies and secure the technology to lead the hydrogen market
A core material that will complete the value chain from hydrogen production to storage and utilization
Chairman Cho Hyun-Joon, “We will contribute to the future energy industry with our best textile and material technology.”
SEOUL, South Korea--(BUSINESS WIRE)--#ChairmanChoHyunJoon--Nylon has evolved into the core material of the hydrogen energy industry.
Hyosung TNC (KRX:298020) announced on the 7th that it has succeeded in developing and using nylon for the liner material of hydrogen vehicle fuel tanks with its own technology, the first of its kind for a Korean company.
A liner is a core component required to store hydrogen in the fuel tank's internal container and prevent leakage.
Hyosung TNC's nylon material is superior to conventional metal and high-density polyethylene (HDPE) liner materials in terms of lightweight, gas barrier, and impact resistance.
Superior light and safe than metal… Excellent impact resistance against temperature fluctuation
The nylon liner material developed by Hyosung TNC is 70% lighter than metal and 50% lighter than HDPE and gas barrier property that prevents leakage of hydrogen gas is also 30% higher than metal and 50% higher than HDPE.
Metal liner is heavy and has a high risk of brittleness when exposed to hydrogen for a long period of time, whereas nylon liner has low hydrogen absorption and air permeability, so there is no risk of being brittleness.
HDPE liners are used as high-pressure containers at 400bar levels, but cannot withstand the 700bar pressure required by typical hydrogen electric vehicles.
In addition, the hydrogen container liner must be able to withstand rapidly changing temperature fluctuation caused by frequent charging and discharging of hydrogen and the nylon liner has excellent impact resistance against to it from -40 to 85 degrees Celsius.
Expected the import effect of 270 billion won annually by 2030
The success of this development is significant in that it has laid the foundation for Hyosung TNC to enter the nylon liner market, which has been monopolized by foreign companies, for the first time as a domestic company.
According to H2 Research, a research institute specializing in the hydrogen market, the global hydrogen vehicle market will grow in earnest, including restrictions on the operation of internal combustion engine trucks in major urban areas in Europe from 2025 is expected to expand to 1.05 million units.
Therefore, the import substitution effect of the nylon material liner market is expected to grow to about 270 billion won annually in 2030.
In addition, with the expansion of various hydrogen mobility markets such as hydrogen electric vehicles, drones, trams, ships, and UAM (urban air mobility), nylon is expected to gain more attention as a liner material for hydrogen containers.
The complete of Hydrogen Value Chain in Production, Distribution, Storage and Utilization
The nylon liner is expected to contribute to the completion of Hyosung's hydrogen value chain.
Hyosung has built a hydrogen value chain through No. 1 supplier of hydrogen charging stations in Korea, construction of liquefied hydrogen plants and liquefied hydrogen filling stations that will change the map of the hydrogen economy, production of carbon fiber, which is essential for fuel tanks for hydrogen vehicles, etc.
The success of this development is significant because Hyosung has secured the technological capabilities to lead the global market not only in the production and distribution of hydrogen but also in the storage and utilization fields.
Chairman Cho Hyun-Joon, “Fiber evolves into a key energy material by combining to technology”
Hyosung TNC's nylon-applied hydrogen container passed the hydrogen container international quality standard (UN/ECE R134) in June, and has been equipped with function, quality and technical perfection as a liner material. It is also planned to conduct commercial tests in cooperation with hydrogen fuel tank manufacturers and automakers.
Hyosung TNC is planning to expand the application of nylon as a liner material from tube trailers of commercial trucks to CNG and hydrogen vessels sailing the seas around the world, such as Antarctica and the Equator, by enhancing the impact and heat resistance range from -60 to 90 degrees Celsius.
In addition, as Hyosung TNC developed the world's first recycled nylon fiber technology from recycled fishing nets discarded in the sea, it plans to expand the eco-friendly plastic material market by applying recycled nylon to a liner material in the future.
Chairman Cho Hyun-Joon said, “Hyosung TNC’s development of nylon liner material demonstrates, even in the textile industry, which has been regarded as a declining industry, the innovation that transforms it into a key material for the high-tech hydrogen industry, can happen if it’s supported by technology. We will contribute to the development of the future eco-friendly energy industry with the technology of materials and textiles.”
Hyosung Corporation
Jung wonyong, Manager
+82 2-707-7337
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Supermarkets leak an estimated 55 million metric tons of carbon dioxide equivalent annually
MILL VALLEY, Calif.--(BUSINESS WIRE)--#grocery--The North American Sustainable Refrigeration Council (NASRC), a 501(c)(3) environmental nonprofit working to advance climate-friendly natural refrigerants in supermarkets, today announced its publication of a free leak reduction guide outlining the significant sources of refrigerant leaks in existing systems. Using data gathered by NASRC supermarket members, the document proposes equipment specification measures for new refrigeration systems to minimize leaks and reduce overall greenhouse gas emissions.
“Together with NASRC, U.S. retailers are proactively taking steps to characterize and reduce refrigerant leaks over the lifespan of refrigeration systems,” said Danielle Wright, executive director of NASRC. “By taking the lead in identifying these issues and proposing solutions, we hope to drive a new industry standard and reduce the cost burden through economies of scale.”
Supermarket refrigeration is one of the leading sources of super-polluting hydrofluorocarbon refrigerant (HFC) emissions. The NASRC estimates the annual climate impact from supermarket and grocery store refrigerant leaks to be 55 million metric tons of carbon dioxide equivalent (MTCO2e).
“Refrigerant leaks are more than a climate issue,” said Wright. “They present logistical challenges and additional expenses for supermarkets.”
To address this, NASRC’s members prepared a data-driven list of the top issues causing refrigerant leaks. Members identified leak reduction measures and shared them with major original equipment manufacturers. Participants included members from 14 retailers representing national and regional chains with nearly 17,000 U.S. locations.
NASRC will feature the report’s findings and highlight solutions to climate-damaging refrigerants at its annual Sustainable Refrigeration Summit on October 24 – 28. The virtual event is free to attend, thanks to the generous sponsorship from Alfa Laval, BITZER US, Emerson, and others. Learn more and register here.
Download the free Leak Reduction Initiative guide.
Learn more about the environmental impacts of HFCs.
About the North American Sustainable Refrigeration Council
The North American Sustainable Refrigeration Council (NASRC) is a 501(c)(3) environmental nonprofit working to advance climate-friendly natural refrigerants and reduce greenhouse gas emissions caused by traditional hydrofluorocarbon (HFC) refrigerants. We collaborate with stakeholders from across the industry, including over 38,000 food retail locations, to eliminate the barriers to natural refrigerants in supermarkets. For more information, visit nasrc.org, Facebook, Twitter and Linkedin.
Media Contact
Morgan Smith
North American Sustainable Refrigeration Council
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585-217-2254
Under the New Partnership, Novata will Provide K2 Integrity with Access to Trusted Data Collection & Management Software to Support Its New ESG Certification Solution
NEW YORK--(BUSINESS WIRE)--Novata, the leading ESG data management platform built for the private markets, and K2 Integrity, a leading compliance and risk advisory firm, today announced a strategic partnership to bolster K2 Integrity’s ESG advisory offering. As part of the partnership, Novata will provide K2 Integrity with access to its industry-leading, proprietary data collection and management software to streamline the processes in K2 Integrity’s new, first-of-its-kind ESG Fund Certification solution. The partnership will also enable K2 Integrity to customize its solution and offer different certification types that align with regional jurisdictions.
“Today, appropriate measures of risk have expanded to include ESG considerations, since many ESG metrics directly affect how a company performs and, in turn, its financial value,” said Josh Green, Chief Operating Officer and Co-Founder of Novata. “We are very pleased to partner with K2 Integrity on their ESG certification program that will help investors, regulators and other stakeholders have confidence in their assessment of the ESG programs of leading investors.”
K2 Integrity’s ESG certification program provides managers with independent, rigorous analyses of their products to certify they are compliant with local ESG regulations and deliver on their ESG targets as advertised to help address the industry-wide issue of greenwashing. This offering builds on the company’s longstanding reputation for assisting clients in addressing all forms of risk and meeting regulation and compliance requirements. Novata’s software platform provides customers with a clear starting point for selecting relevant ESG metrics and offers painless data collection into a secure database, along with analytics to inform investment decisions and reporting capabilities for key stakeholders.
Andrew Rabinowitz, Co-CEO of K2 Integrity added: “The need to validate and quantify ESG initiatives has never been greater. We believe that there is increased demand for transparency, oversight and strong ESG practices from stakeholders, regulators and the investment community to address important issues such as diversity, equity and inclusion, sustainability, and strong governance, and combat accusations of greenwashing. It is great to partner with Novata, the premier ESG data management software provider, on our industry leading ESG certification solution, which will help managers and funds verify to investors and regulators that their offerings are in fact aligned with what is being advertised.”
K2 Integrity’s ESG Certification solution combines analysis of companies’ disclosures with its own independent investigative research to assess if managers and funds are compliant with how their products are advertised as well as jurisdictional regulations. The solution also assesses if the proper ESG targets have been set and if those targets are being met.
To learn more about the K2 Integrity’s ESG certification solution visit www.k2integrity.com/en/newsroom/news-releases/k2-integrity-launches-first-of-its-kind-esg-certification-program.
To learn more about Novata and it ESG data tracking tools, please visit their website at www.novata.com.
About Novata
Novata is a public benefit corporation created to enable the private markets to achieve a more sustainable and inclusive form of capitalism. Novata helps GPs and private companies navigate the complex ESG landscape more easily by providing a unique technology platform that simplifies the process of selecting relevant metrics, clear and simple guidance for painless data collection, a cutting-edge secure contributory database to store data, and unique tools for analysis and seamless reporting to key stakeholders, including limited partners and regulators. Novata was formed as a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.
Follow Novata on LinkedIn.
About K2 Integrity
K2 Integrity is the leading risk and financial crimes advisory firm helping clients understand and manage their risk so they can lead with confidence. With some of the most knowledgeable practitioners in the industry, K2 brings together deep subject matter expertise with proprietary technology and digital offerings to help clients creatively solve today’s issues while also planning for the future. With offices in New York, Washington, D.C., London and Abu Dhabi and more than 400 employees globally, K2 has deep knowledge and experience working in every region and numerous jurisdictions around the world. To learn more about how K2 Integrity is revolutionizing the management of risk, visit www.k2integrity.com, or follow us on Twitter or LinkedIn.
Media Inquiries:
Katie Stueber
Novata
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Prosek Partners for K2 Integrity
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Customers are urged to prepare for potential Power Shutoffs when Santa Ana winds are at their peak
2022 Wildfire Safety Advancements video here. Interviews & B-roll can be found here.
SAN DIEGO--(BUSINESS WIRE)--San Diego Gas & Electric (SDG&E) is unveiling its latest wildfire mitigation and resiliency advancements while urging its customers to prepare for possible wildfires and Public Safety Power Shutoffs (PSPS) during the region’s Santa Ana wind season, which is typically between September and December.
Wildfire season is now year-round in California, however, the risk for wildfires in Southern California especially increases when seasonal Santa Ana winds become more active. This time of year is referred to as peak wildfire season.
“Just one wildfire could significantly impact the health and safety of our customers, which is why our team works so hard to strengthen our electrical grid to help reduce the risk of wildfires and the impacts of Public Safety Power Shutoffs in our high fire threat areas,” said SDG&E CEO Caroline Winn. “This work also benefits our entire region in that it helps to defend against other extreme weather conditions as we build a smart energy grid of the future that can support the clean energy transition.”
Over the last decade, SDG&E has made significant improvements to its electric infrastructure to help mitigate the impacts of PSPS on its customers and withstand extreme weather conditions. This year alone, the company plans to underground nearly 50 miles of power lines and install additional sectionalizing devices, which are intended to limit the size of outages by isolating faults, on its overhead power lines. When combined, these efforts will help reduce PSPS impacts to more than 7,000 customers in some of the highest risk areas.
Additionally, SDG&E has a total of seven microgrids that are already in use, or under construction. These microgrids will help keep communities and critical facilities like fire stations, schools and public safety infrastructure such as CAL FIRE’s Air Attack Base in Ramona energized during outages and Public Safety Power Shutoffs. Because these facilities can operate without needing to be connected to the larger energy grid, communities and emergency responders will continue to have access to critical resources during a planned or unplanned outage.
Since 2020, SDG&E has also completed the following infrastructure enhancements:
“We’ve made significant strides in strengthening our electric infrastructure, but that’s only part of the equation,” said SDG&E Vice President of Wildfire and Climate Science, Brian D’Agostino. “To be as strategic and surgical as possible when it comes to turning off someone’s power, we really have to understand the weather, the climate and the wildfire risk in very specific areas of our service territory.”
Over the last 10 years, the company has developed a state-of-the-art situational awareness network, which includes pan-tilt-zoom cameras that enable smoke detection technology, more than 220 weather stations, artificial intelligence modeling and satellite imagery. This year SDG&E will continue improving its network of weather stations and further expand the number of hilltop cameras, some of which are in new locations that allow its in-house meteorology team to predict weather more accurately in areas that are at risk for wildfires. The company is also installing air quality sensors to better understand the impacts of wildfire smoke on the health and safety of its customers and employees. SDG&E has also leveraged aerial drones to inspect its powerlines in areas with the highest wildfire risk along with machine learning to enhance its ability to detect issues on powerlines.
The data pulled from this network allows SDG&E to strategically time and initiate PSPS to reduce customer impacts as much as possible. The information also allows the company to strengthen its electric grid in priority areas to further reduce PSPS impacts and the overall risk of wildfires.
Because the safety of our customers, employees and the communities we serve is our highest priority, SDG&E may initiate a PSPS as a last resort preventative measure to help protect our communities from wildfires. The decision to initiate a PSPS is informed by a combination of factors including wind speeds, humidity levels, field observations by SDG&E crews, vegetation moisture and information from fire agencies. If these factors threaten SDG&E’s ability to safely operate the electric system, power may be temporarily shut off. While SDG&E is doing everything in its power to prepare for high fire-risk weather, preparing our region is a whole community effort.
"We recognize that community preparedness takes all of us working together and strengthening our partnerships with trusted community-based organizations, such as 211 San Diego and Orange County, the Red Cross and the South Bay Fire Academy helps us broaden our reach and provide people with the information, tools and resources they need to remain resilient," said D’Agostino.
SDG&E continues to forge strong partnerships with Community Based Organizations, Non-Governmental Organizations, local governments and Public Safety Partners. These partnerships help the company provide information, tools and resources to more customers prior to, during and following a PSPS.
Most recently, SDG&E has made accessibility enhancements to its PSPS website and PSPS mobile app, and the company has released its own Alexa skill which offers real-time notifications, including weather forecasts, fire potential, PSPS information, Community Resource Center locations and State flex alert information through the Amazon Alexa voice assistant using any Alexa device or the Alexa app.
From strengthening the electric grid, to improving its situational awareness, to supporting its customers during PSPS and extreme weather, SDG&E remains as committed as ever to the health, safety, and resiliency of its customers, employees and the communities it serves.
“At SDG&E, our culture is to be better today than we were yesterday, and that is what drives us to work tirelessly to reduce the chance of a wildfire and the devastating impacts to communities,” said Winn. “We recognize there is still much work to be done and it cannot be done alone.”
In advance of peak Santa Ana wind season, SDG&E recommends customers update their account contact information via My Account and download the Alerts by SDG&E mobile app to receive PSPS alerts. For additional PSPS information including Community Resource Centers, notification timelines, resources and more, visit SDGE.com/PSPS. The company also advises customers to develop a plan to prepare for a PSPS or wildfire. More information on how to prepare can be found at SDGE.com/wildfire-emergency-preparedness.
SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing natural gas pipelines; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter (@SDGE), Instagram (@SDGE) and Facebook.
Alex Welling
San Diego Gas & Electric
877-866-2066
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Twitter: @sdge
Addition Reflects the Continued Growth of the Boston Office and Sustained Demand for Transactional Experience Among Technology and Life Sciences Clients
Wilson Sonsini Recently Added Seth Flaum in New York as a Partner in the Technology Transactions Department
PALO ALTO, Calif.--(BUSINESS WIRE)--Wilson Sonsini Goodrich & Rosati, the premier provider of legal services to technology, life sciences, and growth enterprises worldwide, announced today that Rob Parr has rejoined the firm’s technology transactions department as a partner in the Boston office. His return reflects Wilson Sonsini’s continued growth in Boston and the ongoing demand for tech-driven deal experience.
Parr has advised clients at all stages of growth on transactions focused on IP rights and technology across various industries, including digital health, artificial intelligence, autonomous driving, big data, clean energy, cloud computing, digital media, e-commerce, edtech, fintech, gaming, internet of things, and software. He regularly drafts and negotiates complex commercial contracts and assists clients with the IP issues arising in financings and M&A deals.
Parr also has substantial expertise that will fortify Wilson Sonsini’s digital health practice, which is a multi-disciplinary group that represents clients in the many areas vital to their businesses, such as with corporate, privacy and data security, intellectual property, commercial transactions, FDA/regulatory and litigation matters.
“We’ve seen continued demand for a combination of transactional and industry experience that helps clients proceed with deal-making and ongoing business matters, even in what is a less active market in certain sectors,” said Doug Clark, managing partner at Wilson Sonsini. “Rob is accustomed to working with clients in dynamic industries that need his commercial and deal-related experience, and to that we add our firm’s strengths representing companies and investors in Boston, the Northeast, and nationwide. We’re pleased he’s returned to our firm.”
Prior to rejoining the firm, Parr was a partner at Orrick, Herrington & Sutcliffe. Before that, he worked in Wilson Sonsini’s technology transactions department. He joined the firm’s Washington, D.C., office as an associate in 2015 before relocating to the Boston office in 2019 and becoming Of Counsel in May 2021. Upon graduating from law school in 2012, Parr was an associate in Venable’s Washington, D.C., office before joining Wilson Sonsini.
Parr’s addition reflects the continued expansion of Wilson Sonsini’s Boston office. Wilson Sonsini opened its Boston office in 2016 to be in closer proximity to its base of clients in the area—many of which are innovative companies and investors in the region’s vibrant life sciences and digital health communities. The firm also aimed to better serve its expanding client base in the local technology and energy sectors, as well as other emerging growth enterprises in the area. Wilson Sonsini’s Boston office now has 10 partners, 29 other attorneys, and seven patent agents.
“I am very excited to return to Wilson Sonsini and to work with leading technology companies and their investors, and to help the firm expand its client base in Boston and beyond, including in the digital health space. I am also very excited to rejoin such an impressive and growing team in Boston, and my many friends and colleagues across the firm,” said Parr.
Parr is the 16th lateral partner to join Wilson Sonsini in 2022. On August 25, 2022, the firm announced that Seth Flaum had joined the technology transactions department as a partner in the New York office. Flaum was previously executive associate general counsel for Daiichi Sankyo, Inc., a global pharmaceutical company based in Japan. While Parr’s practice will focus on representing technology clients, Flaum specializes in representing life sciences clients.
Parr earned his J.D. from George Washington University Law School in 2012. He is admitted to practice in the District of Columbia, Maryland, and Massachusetts.
About Wilson Sonsini Goodrich & Rosati
For more than 60 years, Wilson Sonsini’s services and legal disciplines have focused on serving the principal challenges faced by the management and boards of directors of business enterprises. The firm is nationally recognized as a leading provider to growing and established clients seeking legal counsel to complete sophisticated corporate and technology transactions; manage governance and enterprise-scale matters; assist with intellectual property development, protection, and IP-driven transactions; represent them in contested disputes; and/or advise them on antitrust or other regulatory matters. With deep roots in Silicon Valley, Wilson Sonsini has offices in 18 technology and business hubs worldwide. For more information, please visit www.wsgr.com.
Wayne Kessler
Baretz+Brunelle
732.239.9710 Mobile
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NEW YORK--(BUSINESS WIRE)--ORIX Corporation USA (ORIX USA) announced today the completion of an equity investment by its Strategic Solutions group in a 150 MW wind power farm located near Amarillo, TX. The wind power farm consists of 75 wind turbines that supply electricity to communities in Armstrong and Carson counties and surrounding areas.
This transaction is ORIX USA’s first investment in U.S. wind energy and represents the platform’s growing focus on renewables through strategic, innovative investments in solar, biofuel and wind projects. This investment contributes to the firm’s continued commitment to serve as a global renewable energy operator and investor and assist in climate change mitigation efforts through its business activities.
“ORIX Group has a strong track record of actively supporting global decarbonization across a range of sustainable asset classes. As many businesses shift toward clean energy initiatives with the new U.S. Inflation Reduction Act, ORIX USA is prepared to meet increasing demands for experienced investors to provide capital to middle market companies,” said Neil Winward, Head of ORIX USA’s Strategic Solutions group. "Wind energy remains an integral component of the sustainable energy transition, so as we look to further expand our global renewables efforts, this investment is a natural next step.”
This transaction follows ORIX USA’s 2021 investment in BC Organics Anaerobic Digestion Facility, a commercial biorefinery in Wisconsin, and 2022 investment in three additional anaerobic digestion facilities in Iowa and South Dakota. In the past two years, ORIX USA’s parent company ORIX Group has also made a significant investment in global renewable energy company Elawan Energy S.L., and acquired a stake in India-based renewable energy company Greenko Energy Holdings.
“As a premier middle market financing firm in the U.S., we combine our deep understanding of the renewable energy sector with the ability to navigate and structure complex investments to create value,” added Ravi Singh, Managing Director, ORIX USA. “Expanding to wind power enables us to further meet counterparty needs for flexible capital solutions with optimal financing capabilities, and reinforces our commitment to sustainable investing.”
Vinson & Elkins LLP acted as legal advisor to ORIX USA. Terms of the transaction were not disclosed.
About ORIX Corporation USA (ORIX USA)
Since 1981, ORIX USA has served the middle market with creative and flexible capital solutions, delivering through a capital base that combines the strength of its balance sheet with funds from third-party investors seeking access to attractive alternative investments. With a focus on private credit, real estate and private equity, ORIX USA and its subsidiaries — ORIX Advisers, ORIX Capital Partners, Signal Peak Capital Management, Boston Financial, Lument, NXT Capital and RB Capital — have over 1300 employees across the U.S. and Brazil. ORIX USA and its family of companies have $85.2 billion in assets, which include $27.2 billion of assets under management, $46.9 billion in servicing and administration assets, and approximately $11 billion in proprietary assets, as of June 2022. Its parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 28 countries and regions worldwide. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information, visit orix.com.
ORIX Corporation USA
Leah Gerber
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Experts in materials science, engineering, and operations will help Niron commercialize the world’s first high performance rare-earth free permanent magnets
MINNEAPOLIS--(BUSINESS WIRE)--Niron Magnetics, the company pioneering the world’s first high-performance, rare earth-free permanent magnets, today announced the expansion of its management team with the appointments of David Northall, vice president, global operations, Carlijn Mulder, Ph.D., vice president for magnet technology, and Peter Ladwig, Ph.D., vice president for nanoparticle technology.
“We're very excited to welcome David, Carlijn and Peter to the Niron team. All three are talented, growth-oriented experts in their respective fields with experience scaling global materials companies,” said Andy Blackburn, CEO of Niron Magnetics. “Niron’s mission and the world changing potential of our technology is what attracted these new team members to join us. Their passion and expertise further empower our team as we usher in a more sustainable future for the magnetics industry.”
David Northall, vice president, global operations joins Niron with over 40 years of experience in a wide range of industries and on mega projects around the world with some of the largest players in chemical manufacturing and engineering. This includes constructing and starting up chemical manufacturing facilities for $100M+ and $1B+ projects. He most recently served as the general manager of project engineering and services for SABIC, a global leader in chemicals headquartered in Saudi Arabia. David was responsible for creating a global PreFEED/FEED (Front End Engineering Design) unit to deliver the baseline of SABIC's global projects, based in Jubail, KSA. He was part of the successful startup of Cristal, a 60,000-tonne pigment facility in Saudi Arabia and has held leadership roles across engineering and operations at Jacobs, Atlantic, Gulf & Pacific Company, Inc., Shaw Energy & Chemicals, Aker Kvaerner, Warner Lambert and, and more. David has relocated to Minneapolis from the Middle East to join Niron and have a direct influence developing Niron’s critical sustainability technology to full industrial scale, enabling material climate and sustainability impact by supporting demand from Global 500 customers.
Carlijn Mulder, Ph.D., vice president, magnet technology joins Niron following a decade with Saint-Gobain, a world leading materials science company, where she held various leadership positions in R&D and operations. In the ceramic materials division, she led the R&D for a global business servicing the hard disk drive, semiconductor, and automotive industries with novel particle technology platforms. In 2016, she joined Sage Electrochromics, a wholly owned, sustainable technology subsidiary of Saint-Gobain that pioneers smart electrochromic windows that improve building energy efficiency. As an R&D manager, she led a diverse team focused on new product and process improvements and fundamental research. In 2020, she joined the senior leadership team at Sage as vice president for quality and regulatory. At Niron, she will leverage her materials expertise to refine the final processing and formation steps for the Clean Earth Magnets. Carlijn completed a BSc and MSc in Applied Physics at Delft University of Technology in the Netherlands and earned her Ph.D. in Electrical Engineering and Computer Science at MIT.
Peter Ladwig, Ph.D., vice president, nanoparticle technology joins Niron following nearly 20 years with TDK Hutchinson Technology. During that time, he held several R&D and operations roles including senior director of technology development and senior director of engineering. Peter led teams that developed a new additive process technology platform and employed it to successfully deliver over a billion units to the hard disk drive industry. At Niron, he will leverage his expertise in thermodynamics of nanoscale magnetic materials to lead the company’s nanoparticle powder research and development efforts. Peter graduated with honors from Marquette University with a BS in Mechanical Engineering, went on to obtain an MBA and earned his Ph.D. in Materials Science from the University of Wisconsin. He is a co-inventor on 27 granted U.S. Patents with many more corresponding international patents and has dozens of technical publications and conference presentations. He has served as a Department of Energy technical reviewer on numerous projects over the last 14 years.
“The 20 years I spent in R&D and operations for a global high-tech company honed my passion and drive to lead new technology commercialization, from invention, to development, to high-volume implementation,” said Peter Ladwig, vice president for nanoparticle technology at Niron Magnetics. “Joining Niron alongside these other impressive executives presented a rare opportunity to apply that passion to develop and launch a truly new, game-changing technology that can have a massive positive impact on society.”
To learn more about Niron Magnetics and its Clean Earth Magnet® technology, please visit https://nironmagnetics.com/.
About Niron Magnetics
Niron Magnetics is developing the world’s first advanced manufacturing process for the mass production of permanent magnets powered by its breakthrough material formulation. Niron’s proprietary Clean Earth Magnet® technology based on Iron Nitride enables magnets that possess inherently higher magnetization, can be produced at a lower cost compared to today’s rare earth magnets, and will enable a revolution in the design of new electric motors and generators. Niron is part of many innovative design partnerships, including a U.S. Department of Energy funded project that aims to develop more cost effective and sustainable drivetrains for electric vehicles. For more information on Niron Magnetics and its technology, please visit https://www.nironmagnetics.com/.
Media
Kalyn Kolek for Niron Magnetics
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DUBLIN--(BUSINESS WIRE)--The "Sulfuric Acid Market by Raw Material (Elemental Sulfur, Base Metal Smelters, Pyrite Ore), Application (Fertilizers, Chemical Manufacturing, Metal Processing, Petroleum Refining, Textile Industry, and Automotive) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global sulfuric acid market is projected to grow from USD 13.2 billion in 2020 to USD 28.5 billion by 2027, at a CAGR of 11.7% during the forecast period. Steady demand for sulfuric acid is also witnessed due to its diversified applications, such as fertilizer manufacturing, metal ore leaching, and oil refining.
Pyrite ore is expected to grow at the highest CAGR during the forecast period, by volume
Sulfuric acid is produced through roasting of pyrite ores. Although the burning of elemental sulfur is the main source of sulfuric acid, the roasting process comes across as an alternative for sulfuric acid production when pyrite concentrate is available. Growing usage of sulfuric acid in various application is expected to drive the growth of pyrite ore segment during the forecast period of 2022 to 2027.
Fertilizers application is expected to be the largest segment during the forecast period, by volume
Sulfuric acid is widely used to produce phosphate fertilizers which help in making the soil rich in phosphorus, an important nutrient vital for crop growth. Also, the need to increase crop production due to the increasing population and decrease in arable land in Asia Pacific and the Middle Eastern regions are driving the demand for sulfuric acid in the fertilizers industry.
Asia Pacific region is expected to grow at the highest CAGR during the forecast period, by volume
The major economies of the Asia Pacific region contributing significantly to the growth of the sulfuric acid market are China, Japan, India, Indonesia, and South Korea. The region has emerged as an important consumer of specialty wet chemicals due to the increasing demand from the domestic front, aided by rise in the standard of living of the people and disposable income. This further increases the growth of sulfuric acid market in Asia Pacific.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/7ykpcg
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HOUSTON--(BUSINESS WIRE)--Bluescape Clean Fuels Intermediate Holdings, LLC (“BCF”), a Houston-based renewable gasoline company, is expected to merge with special purpose acquisition company CENAQ Energy Corp. (NASDAQ: CENQ) (“CENAQ”). On August 12, 2022, CENAQ and BCF entered into a business combination agreement. Upon closing, the combined company will be named Verde Clean Fuels, Inc. (“Verde Clean Fuels”), and is expected to become publicly listed on the NASDAQ under the symbol “VGAS.” The transaction is expected to close during the first quarter of 2023.
BCF owns a proprietary syngas-to-gasoline (“STG+®”) technology which is expected to produce renewable gasoline utilizing waste feedstocks that are otherwise landfilled. BCF’s multi-patented technology has been developed over the past 15 years and tested at its demonstration facility in New Jersey. The renewable gasoline can result in more than a 60% reduction in carbon intensity versus traditional hydrocarbon-based gasoline based on GREET-style Carbon Intensity analysis.
“Traditional gasoline used today is refined from crude oil and makes up over half of greenhouse gas emissions produced by the U.S. transportation sector. We believe our proprietary STG+® system will enable everyday consumers of gasoline to seamlessly and materially participate in the decarbonization of our atmosphere, without changing their automobiles or fueling habits,” said Ernie Miller, co-founder and CEO of BCF. “Our renewable gasoline will work within the traditional gasoline infrastructure and in the global fleet of internal combustion engines. We estimate the resulting advantage to the environment from deploying our renewable gasoline to be comparable to removing at least 6 out of every 10 cars on the road today. The ability of BCF’s renewable gasoline to reduce greenhouse gases without changing consumer behavior is a new and significant solution to global decarbonization.”
The STG+® process is highly flexible and efficiently turns syngas, regardless of feedstock, into gasoline that does not require any additional refining. The BCF system is fully modular and sized to match the feedstock source, allowing for optimal logistical and cost efficiencies.
BCF is currently developing its first commercial facility to be located at a landfill site in Maricopa, AZ, and has several additional renewable gasoline projects in development.
About Bluescape Clean Fuels Intermediate Holdings, LLC
BCF is decarbonizing the transportation sector through production of clean fuel using a patented technology that has been developed and tested for more than a decade. Our proprietary syngas-to-gasoline process uses a variety of feedstocks to produce gasoline that works within existing fueling infrastructure, without changing consumer behavior. Headquartered in Houston with a demonstration facility in New Jersey, BCF will have commercial facilities operating globally. For more information and to subscribe to company alerts, please visit www.bluescapecleanfuels.com.
About Bluescape Energy Partners
Bluescape Energy Partners LLC (“Bluescape Energy Partners”) is an alternative investment firm that leverages its private capital, global network, and superior thinking to deliver differentiated long-term investment performance in the broader energy and utility sectors. Bluescape Energy Partners employs a unique approach and long-term perspective, helping position companies for growth and value creation by providing capital and strategic oversight with its multi-disciplined team of executive-level managers, operators, strategic consultants, and restructuring advisors. It thrives to uncover investments exhibiting high performance potential where it seeks to build lasting partnerships. Bluescape Energy Partners strives to create positive impacts for all of its stakeholders through its capital, operational capabilities, and long-term ownership model.
About CENAQ Energy Corp.
CENAQ Energy Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CENAQ Energy Corp. focused its search for a target business in the energy industry in North America. CENAQ Energy Corp. is led by energy industry veterans J. Russell Porter (CEO) and Michael J. Mayell (President and CFO).
Important Information for Shareholders
This communication does not constitute a solicitation of any vote or approval.
In connection with the proposed business combination (the “Business Combination”), CENAQ has filed with the SEC a preliminary proxy statement. CENAQ also plans to file other documents with the SEC regarding the proposed Business Combination. After the proxy statement has been cleared by the SEC, a definitive proxy statement will be mailed to the shareholders of CENAQ. SHAREHOLDERS OF CENAQ ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION. Shareholders are able to obtain free copies of the proxy statement and other documents containing important information about CENAQ and BCF and its affiliates once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov.
Participants in the Solicitation
CENAQ and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of CENAQ in connection with the proposed Business Combination. BCF and its officers and directors may also be deemed participants in such solicitation. Information about the directors and executive officers of CENAQ is set forth in CENAQ’s Annual Report on Form 10-K filed with the SEC on March 30, 2022. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the proxy statement and other relevant materials to be filed with the SEC when they become available.
Industry and Market Data
Although all information and opinions expressed herein, including market data and other statistical information, were obtained from sources believed to be reliable and are included in good faith, BCF and CENAQ have not independently verified the information and make no representation or warranty, express or implied, as to its accuracy or completeness. Some data is also based on the good faith estimates of BCF and CENAQ, which are derived from their respective reviews of internal sources as well as the independent sources described above. This contains preliminary information only, is subject to change at any time and, is not, and should not be assumed to be, complete or to constitute all the information necessary to adequately make an informed decision regarding your engagement with BCF and CENAQ.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act, or an exemption therefrom.
FORWARD-LOOKING STATEMENTS
The information included herein and in any oral statements made in connection herewith include “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. All statements, other than statements of present or historical fact included herein, regarding the proposed Business Combination, CENAQ’s and BCF’s ability to consummate the transaction, the benefits of the transaction, CENAQ and BCF’s future financial performance following the transaction, as well as CENAQ’s and BCF’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on CENAQ’s and BCF’s management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, CENAQ and BCF disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. CENAQ and BCF caution you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of CENAQ and BCF. These risks include, but are not limited to, general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability of the parties to successfully or timely consummate the proposed Business Combination or to satisfy the closing conditions, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company; the risk that the approval of the shareholders of CENAQ for the proposed Business Combination is not obtained; the failure to realize the anticipated benefits of the proposed Business Combination, including as a result of a delay in its consummation; the amount of redemption requests made by CENAQ’s shareholders; the occurrence of events that may give rise to a right of one or both of CENAQ and BCF to terminate the definitive agreements related to the proposed Business Combination; the risks related to the growth of BCF’s business and the timing of expected business milestones; and the effects of competition on BCF’s future business. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. There may be additional risks that neither CENAQ nor BCF presently know or that CENAQ and BCF currently believe are immaterial that could cause actual results to differ from those contained in the forward-looking statements. Additional information concerning these and other factors that may impact CENAQ’s expectations and projections can be found in CENAQ’s periodic filings with the SEC, including CENAQ’s Annual Report on Form 10-K filed with the SEC on March 30, 2022, any subsequently filed Quarterly Report on Form 10-Q and the preliminary proxy statement filed on August 12, 2022. CENAQ’s SEC filings are available publicly on the SEC’s website at http://www.sec.gov.
Public Relations Contact
Meghan Gross
Pierpont Communications
(617) 543-6167
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Company’s proprietary products and services will deliver next-generation energy sustainability and encourage a new era of energy responsibility
SAN DIEGO--(BUSINESS WIRE)--Dalrada Financial Corporation (OTCQB: DFCO, “Dalrada”) recently announced its breakthrough partnership with Averett University in Virginia in an effort to drive a significant reduction in carbon emissions while delivering major energy cost savings for the university.
The partnership will accelerate the university’s efforts in reaching its Net Zero goals faster, providing true value in a variety of ways. Additionally, the services will incur no cost to the university.
Dalrada’s specialized energy division, Dalrada Energy, plans on executing these sustainability initiatives by developing a holistic approach that helps achieve carbon neutrality through the use of innovative, modern technology on the Averett campus.
An important highlight of the project will be the installation of the company’s flagship heat pump, otherwise referred to as the “Likido™ONE commercial heat pump.”
Considered the world’s most efficient heat pump, Dalrada’s commercial version is produced by Dalrada Precision Manufacturing and is the only unit accepted in the coveted U.S. General Services Administration (GSA) and Department of Energy (DOE) Green Proving Ground program. At Averett University, each heat pump will have a digital twin to monitor and maximize performance while effectively creating AAA-rated, transparent carbon credits that will help eliminate carbon credit fraud.
The newly-installed heat pumps are expected to perform at a rate that eclipses the university’s current setup, reducing energy costs by over 70 percent and decreasing carbon emissions by up to 90 percent.
“We’re thrilled to provide Averett University with next-generation technology to deliver real-world energy savings,” said Dalrada Energy President, Tom Giles. “Our team looks forward to installing five Dalrada Likido™ONE high-efficiency, de-carbonizing heat pumps and delivering clean energy services worth millions of dollars – all at no cost.”
The Averett-Dalrada partnership will create advanced educational opportunities focused on green energy solutions and technology. As a result, Averett students will gain firsthand knowledge and the necessary experience to compete for jobs that will drive the industries of the future.
This partnership may also set the energy sustainability bar for colleges across the country while providing students with the tools they need to be successful after graduation. According to Averett University President, Dr. Tiffany Franks, “Partnering with Dalrada will ensure that Averett demonstrates environmental and fiscal responsibility while fostering an educational learning lab designed to propel our students into the future, preparing them to not only find jobs after they graduate, but to help create them as well.”
Dalrada Energy’s innovative approach toward Averett’s sustainability efforts leverages modern digital capabilities that will ultimately revolutionize the scale and speed at which additional sustainable practices can be adopted. For more information, visit www.dalradaenergy.com.
About Dalrada Energy
Dalrada Energy works with public and private sector organizations around the globe to make modern energy solutions more accessible. The specialized division achieves this by providing all services, infrastructure, and financial monitoring to measure carbon credits at little to no cost to clients. Dalrada Energy then shares the savings that these organizations achieve removing the previous barriers to implement ESG solutions due to the large capital investments required. To learn more, visit www.dalradaenergy.com.
About Dalrada Financial Corporation
Dalrada Financial Corporation drives innovation that positively impacts people, businesses, and the planet. With subsidiaries that are firmly positioned in the world’s fastest growing areas of healthcare, energy, precision manufacturing, and technology, Dalrada creates solutions that are sustainable, affordable, and accessible.
The company works continually to produce disruptive products and services that accelerate positive change for current and future generations. Dalrada’s global solutions directly address climate change, post-pandemic gaps in the healthcare industry, and technology solutions for a new era of human behavior and interaction, ensuring a bright future for the world around us.
Established in 1982, Dalrada has since grown its footprint to include the unique business divisions: Dalrada Health, Dalrada Precision Manufacturing, Dalrada Energy, and Dalrada Technologies. For more information, please visit www.dalrada.com, and follow us on Twitter, Facebook, and LinkedIn.
About Averett University
Since 1859, Averett University has grown and developed into a dynamic institution that serves students of all ages, offering more than 40 undergraduate majors with a number of concentrations and minors, along with 12 graduate programs in several concentrations. Dedicated to preparing students to serve and lead as catalysts for positive change, the University’s historic main campus is embedded in the heart of Southern Virginia with regional learning centers throughout Virginia and online. Averett enrolls a diverse student body and boasts an alumni network that spans the globe.
At Averett University, we are altogether different. We know that relationships fuel futures, which explains our unmistakable family atmosphere. On campus or online, Averett students feel a sense of true belonging. Through relentless support and unwavering dedication, we equip our students with the skills for a lifetime of success. Knowing that personal growth and community well-being go hand-in-hand, we serve others with confidence and distinction, and with a more than 160-year legacy, our influence is far-reaching in the world around us. This is Averett. Visit www.averett.edu for more info.
Disclaimer
Statements in this press release are not historical facts. The statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management’s current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company’s expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company’s success are more fully disclosed in the Company’s most recent public filings with the US Securities and Exchange Commission (“SEC”), including its annual report on Form 10-K.
Jose Arrieta (This email address is being protected from spambots. You need JavaScript enabled to view it.)
The Nine Mile Point hydrogen production project will demonstrate the value of combining the most abundant element in the universe with nuclear energy to address the climate crisis
OSWEGO, N.Y.--(BUSINESS WIRE)--Leaders from the U.S. Department of Energy (DOE), the New York State Energy Research and Development Authority (NYSERDA), and the New York State Public Service Commission (PSC) joined Constellation leaders and employees at Nine Mile Point today to celebrate progress on the nation’s first nuclear-powered clean hydrogen production facility that will begin production by the end of the year.
“Clean hydrogen is an essential tool in addressing the climate crisis, and in a few short months we will demonstrate to the world how essential carbon-free nuclear energy is to unlock its potential,” said Joe Dominguez, president and CEO of Constellation. “Building on the vision and strong support from DOE and NYSERDA, we are eager to help develop the technology and infrastructure needed to build a clean hydrogen economy, create jobs and secure our domestic energy security.”
Last year, DOE approved moving forward with construction and installation of an electrolyzer system at Nine Mile Point, to separate hydrogen and ozygen molecules in water as part of a $5.8 million award from DOE. In addition, NYSERDA recently announced $12.5 million in funding to help demonstrate hydrogen fuel cell technology at Nine Mile Point to provide long-duration energy storage for the electric grid. Hydrogen fuel cells can produce electricity with only water vapor as a byproduct, making them a clean source of reliable backup energy to power the grid. The hydrogen fuel cell project at Nine Mile Point is currently being designed and is expected to be operational in 2025.
When produced on a large scale, clean hydrogen can be used to make next-generation energy for otherwise hard-to-decarbonize industries like aviation, long haul freight, steel making and agriculture.
The clean hydrogen production and storage projects underway at Nine Mile Point will demonstrate the viability of hydrogen electrolyzer and fuel cell technologies, setting the stage for possible deployment at other clean energy centers in Constellation’s fleet. As part of its broader decarbonization strategy, Constellation is currently working with public and private entities representing every phase in the hydrogen value chain to pursue development of regional hydrogen production and distribution hubs.
Alice Caponiti, deputy assistant secretary, Nuclear Energy Office, DOE, said, “Nuclear power has historically been known as a baseload energy provider because it is the most reliable clean energy source in the country. As we move forward, together with fluctuating renewable energy sources, in meeting the President’s bold vision for a 100-percent clean electricity generation mix by 2035 and a net-zero economy by 2050, nuclear power will evolve to support both firm and flexible capacity and it will play an important role in developing clean hydrogen affordably and at scale. We are pleased to see the progress being made to start producing clean hydrogen here by the end of the year.”
“As we look to achieve New York’s ambitious decarbonization and clean energy targets, projects like Nine Mile Point are critical to ensuring that stored renewable energy and other zero-emission energy sources are available for long periods of time and can be utilized to contribute to a reliable power grid,” said Doreen M. Harris, president and CEO, NYSERDA. “NYSERDA is proud to partner with Constellation to demonstrate how this project can help reduce emissions and improve air quality for the benefit of all New Yorkers.”
“It’s great to see the U.S. and New York take these big steps forward to embrace clean hydrogen production and long-term energy storage,” said Steve Szymanski, vice president, Nel Hydrogen, the manufacturer of the electrolyzer to be used at Nine Mile Point. “Clean hydrogen is an emerging industry that will create a lot of jobs and help us lower emissions in industries that produce up to a quarter of global carbon emissions, making it an essential resource in the fight against climate change.”
Learn more about Constellation’s clean hydrogen work via our fact sheet and overview video.
About Constellation
Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to millions of homes, institutional customers, the public sector, community aggregations and businesses, including three fourths of Fortune 100 companies. A Fortune 200 company headquartered in Baltimore, our fleet of nuclear, hydro, wind and solar facilities have the generating capacity to power approximately 20 million homes, providing 10 percent of all carbon-free energy on the grid in the U.S. Our fleet is helping to accelerate the nation’s transition to clean energy with more than 32,400 megawatts of capacity and annual output that is nearly 90 percent carbon-free. We have set a goal to achieve 100 percent carbon-free power generation by 2040 by leveraging innovative technology and enhancing our diverse mix of hydro, wind and solar resources paired with the nation’s largest nuclear fleet. Follow Constellation on Twitter @ConstellationEG.
What People Are Saying about Constellation’s Hydrogen is Happening Here Celebration at Nine Mile Point Nuclear Station, Oswego, NY, Sept. 28, 2022
“Constellation’s upstate nuclear power stations provide thousands of good-paying jobs while safely and reliably producing vast amounts of zero-emission electricity. The women and men of the Building and Construction Trades welcome investments in new technology like the electrolyzer and fuel cell projects at Nine Mile Point Nuclear Station.”
- Gary LaBarbera, President, New York State Building and Construction Trades Council
“Throughout my Senate career, I have been proud to represent Nine Mile Point and FitzPatrick nuclear stations. These facilities continue to bolster the region’s reputation as the energy capital of New York, provide good paying jobs for hardworking people and create a tremendous economic benefit for Oswego County and beyond. I look forward to seeing the positive impacts of Nine Mile Point and Fitzpatrick continue for many years to come.”
- Senator Patty Ritchie
“The continued operation of Constellation’s New York nuclear facilities is essential to our upstate economy. A commitment to utilize emerging technologies will be critical for energy producers’ long-term goals and benefit the communities they serve. Today’s announcement is great news that Constellation is able to leverage this new hydrogen electrolyzer and fuel cell technology to advance its zero-emission capabilities for the state of New York.”
- Assembly Minority Leader Will Barclay
“Oswego County has touted the carbon-free benefits of nuclear energy for years and applauds this public-private partnership for new, innovative technology in our region.”
- Phil Church, Administrator, Oswego County
“As a 30-year employee at Nine Mile Point Nuclear Station, it gives me great pride to represent the site as its town supervisor. Today’s investment paves the way for future generations to work at the plant for years to come.”
– James Oldenburg, Supervisor, Town of Scriba
“The City of Oswego proudly hosts Nine Mile Point and FitzPatrick nuclear stations. The carbon-free energy they provide is essential to meeting New York State’s emissions reduction goals at the lowest cost to consumers.”
– Billy Barlow, Mayor, City of Oswego
“CenterState CEO and the Greater Oswego Fulton Chamber of Commerce congratulates Constellation Energy on the launch of its clean hydrogen initiatives at the Nine Mile Point Nuclear Station. Programs like these are catalysts that position Central New York as leaders in innovation. Constellation is an incredible community advocate, donating time and funds to support our local nonprofits and small businesses. We are excited to celebrate this milestone with them and thank them for their partnership and engagement.”
– Katie Toomey, Executive Director, Greater Oswego-Fulton Chamber of Commerce
Mark Rodgers
Constellation Communications
617-699-6327
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YORK, Pa.--(BUSINESS WIRE)--C-P Flexible Packaging (C-P), a leading manufacturer of sustainable flexible packaging, has announced plans to power 50% of the company’s U.S. facilities with solar energy by 2025. In addition to reducing C-P’s carbon footprint, utilizing solar power will reduce costs and support C-P’s continued rapid growth.
C-P currently has 440 solar panels installed at its Placentia, California manufacturing plant. To date, this is one of the largest solar deployments in Orange County. C-P is now installing 2,034 solar panels at the company’s Lakeville, MN plant, producing over 1.1 million kilowatt-hours of clean energy annually and offsetting over 1.7 million pounds of CO2 emissions per year. Simultaneously, plans for the company’s 3rd solar panel installation are underway. The company has created a roadmap for half of its U.S. plants to convert to solar energy by 2025.
"Harnessing solar power as a renewable energy source is consistent with our commitment to environmental responsibility. We are on a journey to reducing our impact on the environment," said C-P’s CEO Mike Hoffman. "As an added benefit, we’ve found that utilizing solar power provides significant energy savings in the long term. Solar power is truly a win-win, reducing our CO2 emissions while supporting our position as one of the most cost-competitive flexible packaging converters in the U.S.”
As part of C-P’s GreenStream™ initiative, C-P will continue investing in sustainable packaging products and manufacturing processes.
To learn more about C-P Flexible Packaging’s commitment to environmentally responsible manufacturing, or to explore C-P’s wide range of flexible packaging formats, visit cpflexpack.com.
About C-P Flexible Packaging
Founded in 1958, C-P Flexible Packaging is one of the top sustainable flexible packaging manufacturers in the U.S., supporting the growth efforts of some of the world’s leading consumer packaged goods companies. Headquartered in York, PA., C-P operates ten manufacturing plants across North America and employs over 1,000 people. The company brings together a full portfolio of flexible packaging formats spanning HD printed rollstock, premade pouches, shrink sleeves, stretch sleeves, poly bags, roll-fed labels, peel and reseal packaging, cold-seal flow wrap, compostable and recyclable flexible packaging. For more information on C-P Flexible Packaging, visit www.cpflexpack.com.
Amanda Dahlby
VP - Marketing
800 815 0667
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The Groveport station is first of 19 under agreement with Amazon
GROVEPORT, Ohio--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, today celebrated a ribbon cutting ceremony with state and local officials, agriculture leaders, and company executives at its new renewable natural gas (RNG) station in Groveport, OH. Amazon (Nasdaq: AMZN) trucks will fuel at the station, which also will provide public access for local fleets seeking access to RNG, a sustainable fuel produced from organic waste.
“Large fleets fueling with RNG have the ability to realize immediate and significant carbon reduction, especially in the heavy-duty truck sector which could be many years away from meaningful electrification,” said Andrew J. Littlefair, president and CEO, Clean Energy. “The opening of our station in Ohio is exciting because it’s the first of many more to come throughout the U.S. and will help efforts to reduce greenhouse gas emissions and reduce climate change.”
The Groveport station is the first construction project completed in an agreement between Clean Energy and Amazon. Many of the 19 new stations will follow Groveport and should be operational by the end of the year, supplementing Clean Energy’s fueling network of 550 stations in North America.
By dispensing 700,000 gallons of RNG annually instead of diesel, the Groveport station will reduce carbon emissions by 6,848 metric tons—the equivalent of growing 114,133 trees for ten years, removing 1,489 passenger cars from the road, or reducing 2,750 tons of landfill waste.
Also joining the ceremony was Evan Barton, owner of South Fork Dairy in Newark, OH. Clean Energy recently signed an agreement to develop a digester that should produce 500,000 gallons of RNG a year from the manure produced by Mr. Barton’s 3,300 dairy cows when completed. This $15 million investment at the South Fork Dairy will produce RNG fuel to be used at the Groveport station and others around the country. Similar investments in other Ohio dairy farms are underway, providing farmers to address the issue of fugitive methane emissions while benefiting from an additional revenue stream.
The Groveport station covers 6.7 acres and includes multiple fast-fill dispensers for easy in-and-out fueling of RNG; time-fill posts for up to 52 trucks, allowing for cost-effective fueling and the most advanced technology transmitting real-time data to customers; and 52 parking places for drivers’ personal vehicles. This multi-million-dollar investment in the Columbus, OH area will put it on the map as a hub for clean, sustainable fueling. Plans are already underway to add fueling capacity for additional heavy- and medium-duty trucks.
RNG is made entirely from organic waste and drastically reduces greenhouse gas emissions. It is so clean that the California Air Resources Board gives RNG from dairies an average carbon score of -343, much cleaner than electric powered vehicles.
For high resolution photos, video and more information visit https://www.cleanenergyfuels.com/groveport.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about the opening and operation of the Groveport, OH RNG station; the amount of fuel anticipated to be dispensed; Clean Energy’s arrangements with Amazon; and the production of RNG at dairy farms. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Raleigh Gerber
949-437-1397
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Jen Detwiler
614-824-3010
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CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)--CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems and materials (the “Company”), today announced it has entered into an agreement to sell and lease back its Central Islip, New York facility (the “Premises”) from the prospective purchasers.
On September 22, 2022, the Company entered into an agreement (the “Purchase Agreement”) for the sale of the Premises consisting of land and building. The Purchase Agreement provides for a purchase price of $28,500,000 and is subject to the completion of due diligence by the purchaser. The purchaser has thirty (30) business days from date of the agreement to complete its due diligence during which time the purchaser retains the right to cancel the Purchase Agreement.
Upon the closing of the sale of the Premises, the Company will enter into a lease agreement (the “Lease”) with the purchaser, pursuant to which the Premises will be leased back to the Company. The Lease will have an initial term of ten years with two renewal terms of five years each, exercisable at the Company’s option. The annual fixed rent will be $1,548,000 for the first year of the initial ten-year term and increase by 3% every year thereafter. The Lease will be “triple net’ and the Company will continue to be responsible for costs, expenses and obligations relating to the operation of the Premises.
The net cash proceeds that would be received by the Company following closing is estimated to exceed $20,000,000 after taxes, expenses, and fees. This estimate is subject to the transaction closing and the finalization of the Company’s tax obligations associated with the sale. The net cash proceeds will be used to strengthen the Company’s balance sheet and fund growth opportunities.
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by its customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, battery nanomaterials, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through its application laboratory, the Company provides process development support and process startup assistance with the focus on enabling tomorrow's technologies™. It’s wholly owned subsidiary CVD Materials Corporation provides advanced materials and metal surface treatments and coatings to serve demanding applications in the electronic, biomedical, petroleum, pharmaceutical, and many other industrial markets.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, market and business conditions, the COVID-19 pandemic, the success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of, or failure to receive orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements, and other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor of the Private Securities Litigation Reform Act of 1995. The Company assumes no obligations to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Past performance is not a guarantee of future results.
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Hub Brings Together Producers, End-Users, World-Class Technology Experts, and Necessary Infrastructure to Advance the Production, Use, and Delivery of Hydrogen in Appalachia
CHARLESTON, W. Va.--(BUSINESS WIRE)--The State of West Virginia, EQT Corporation, the nation’s largest natural gas producer, Battelle and GTI Energy, both with deep expertise executing clean energy programs for the federal government, and Allegheny Science & Technology (AST), a leading West Virginia energy technology consulting firm, have collaborated to establish a Regional Clean Hydrogen Hub in the Appalachian region, the Appalachian Regional Clean Hydrogen Hub (ARCH2).
The Appalachian Regional Clean Hydrogen Hub (ARCH2) is expected to be centered in West Virginia while expanding its impact, through cooperative efforts in Ohio, Pennsylvania and Kentucky. The region is the ideal location for a clean hydrogen hub, due to its unique access to ample low-cost natural gas feedstock, end-user demand, workforce and technology capability, and carbon sequestration potential.
ARCH2 will be a key foundational component of America’s transition toward decarbonization. The ARCH2 team is composed of entities with operations across the Appalachian region spanning the hydrogen value chain as well as energy technology organizations, including the National Energy Technology Laboratory, consultants, academic institutions, community organizations, and NGOs that will provide commercial, technical, and programmatic leadership for the development and buildout of the hub.
Additional industrial partners and other stakeholders, including community organizations, are encouraged to participate and contribute to ARCH2’s clean energy ecosystem.
The Appalachian region provides significant existing resources for ARCH2, including the critical infrastructure required for low-cost natural gas production and storage, existing pipelines and transportation networks, and proximity to major end-use markets in the Midwest and Northeast. The region also boasts a highly skilled energy workforce - as well as support from labor organizations, environmental non-profits, academic institutions, and community stakeholders – all of which will be integral to project development and associated job retention and creation, particularly in disadvantaged and underserved communities.
“Under the leadership of Governor Jim Justice, West Virginia is prepared to lead in this initiative — and others like it — that continue to diversify and grow the energy portfolio of our state and our region while spearheading the expansion of energy options for the nation,” said Secretary of Economic Development Mitch Carmichael. “This is another example of how West Virginia continues to lead, as we always have, in supplying the energy needs of the United States.”
“The world is demanding cheaper, more reliable, cleaner energy—and lots more of it. Yet, the energy industry has yet to deliver a truly sustainable energy solution that can meet this monumental moment in our efforts to address climate change, while eliminating energy poverty and providing energy security. But that is about to change,” said EQT President and CEO Toby Z. Rice. “America’s oil and gas industry has awakened to the opportunity in front of them. Abundant, low-emissions Appalachian natural gas can and will serve as the strategic foundation for all phases of our journey to decarbonize the world. Blue hydrogen is a reliable, zero-carbon solution that represents a significant next step in our journey.”
“Battelle’s core mission is to develop and deploy science and technology for societal benefits, which is completely consistent with the Clean Regional Hydrogen Hub objectives,” said Lou Von Thaer, Battelle President and CEO. “Battelle’s experience in managing and executing complex public-private partnerships will lead to a sustainable regional program that meets government and industry objectives, addressing technical, commercial, and social justice goals in a highly transparent manner. We are proud to be part of such an initiative.”
“GTI Energy is developing innovative solutions such as low-carbon hydrogen that enable clean energy access to our communities. Our deep roots in the energy industry and collaborative approach to advancing technologies enable us to deploy integrated hydrogen solutions at scale,” said Dr. Paula A. Gant, President and CEO of GTI Energy. “We have a long history of bringing together public and private partnerships, which will be critical for hydrogen hubs. We are excited to work with our industry and technology partners to support the decarbonization of the Appalachian region while stimulating economic growth through the development of a hydrogen market.”
“ARCH2 will play a vital role in the development and realization of DOE’s Regional Clean Hydrogen Hub vision,” stated Arria Hines, AST’s CEO. “ARCH2 represents the future of energy in our country and is the foundation upon which a robust regional hydrogen economy will be built.” “ARCH2 will combine a world-class team of industry experts with Appalachia’s vast untapped resources, existing energy infrastructure, and proximity to regional markets that will drive an ‘All of the Above’ energy future for our nation.”
Current Participating Entities:
Air Liquide |
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GTI Energy |
Allegheny Science & Technology |
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Hope Gas |
American Electric Power |
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IN-2-Market |
The Babcock & Wilcox Company |
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Long Ridge Energy & Power, LLC |
Battelle |
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Marathon Petroleum, including its Affiliate MPLX |
BHE GT&S |
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Marshall University Research Corporation |
Bloom Energy |
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Mountain Transit Authority |
Chemours |
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National Energy Technology Laboratory |
Climate Smart Business Solutions |
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National Fuel Gas Supply Corporation |
CNX |
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New Fortress |
Cornerstone Chemical Company |
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Nucor Steel West Virginia |
Dominion Energy |
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OVRTA |
DT-Midstream |
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Peoples Natural Gas |
ElementUS |
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Plug Power |
Emerging Fuels Technology |
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Potomac Valley Transit Authority |
Energy Innovation Center Institute, Inc. |
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Stark Area Regional Transit Authority |
EPRI |
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General Hydrogen Corp. |
EQT |
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TC Energy Corporation |
Fairmont-Marion County Transit Authority |
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TRC Companies |
Fidelis New Energy |
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Watt Fuel Cell |
General Hydrogen Corp |
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West Virginia University |
Greylock Midstream |
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Williams |
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Entities interested in participating in ARCH2 are encouraged to contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
About Battelle
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org.
About GTI Energy
GTI Energy is a leading research and training organization. Our trusted team works to scale impactful solutions that shape energy transitions by leveraging gases, liquids, infrastructure, and efficiency. We embrace systems thinking, open learning, and collaboration to develop, scale, and deploy the technologies needed for low-carbon, low-cost energy systems. www.gti.energy
About EQT
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. To learn more, visit eqt.com.
About AST
AST is an energy solutions firm harnessing world-class agile expertise in applied science, energy efficiency, data analytics, and decision support tools to help build a better world. Utilizing scientists, consultants, and subject matter experts, AST delivers innovative solutions that drive clean, affordable, and sustainable energy technologies for its clients.
State of West Virginia Contact
Andy Malinoski
Director, Marketing and Communications, WV Dept. of Economic Development
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EQT Contact
Bridget McNie
Director of Communications
412.720.4500
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Battelle Contact
Katy Delaney
Director of Media Relations
614.424.7208
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GTI Energy
Diane Miller
Director of Marketing Communications
847.768.0683
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AST Contact
Stephanie Pethtel
Director of Marketing Communications
304.657.9107
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ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced that it will host an Investor and Analyst Event on Oct. 5, 2022. The event is scheduled to begin at 8:30am PT and will include presentations from Wahid Nawabi, chairman, president and chief executive officer, Kevin McDonnell, senior vice president and chief financial officer, and other members of the executive management team.
A video recording of the event and a copy of the presentation slides will be made available in the Events and Presentations section of the AeroVironment website at https://investor.avinc.com/events-and-presentations.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can proceed with certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
Jonah Teeter-Balin
+1 (805) 520-8350 x4278
https://investor.avinc.com/contact-us
NEW YORK--(BUSINESS WIRE)--Today, Flowcarbon, a leading climate tech company scaling carbon reduction and removal projects, and Watr, the pioneering Polkadot parachain for ethical commodities, announced a partnership to bring the capital, talent and technology of decentralized finance to the voluntary carbon markets on Watr - in service of the $17 trillion USD commodities industry.
The partnership will see Flowcarbon launch its carbon tokenization technology and infrastructure on Watr Protocol as a foundational building block of Watr’s decentralized carbon ecosystem. The aim is to support the exponential step change in carbon credits needed to service the net zero commitments made by industry for 2030 and beyond.
Today's on-chain carbon ecosystem is fragmented and excludes the largest demand centers for the voluntary carbon market (VCM): industry and commodities. This partnership sees Watr and Flowcarbon collaborating to ensure novel VCM products are co-created with, and amplified by, expertise and demand from the largest consumers and participants in the VCM including industry and commodities.
“Tokenization allows a deeper connection with the source through traceable and transparent carbon credits, which are critical to ethical commodities. We believe that with Watr’s ecosystem, we will expand access to a high demand center and drive climate action more efficiently and effectively. We are looking forward to seeing the impact that this partnership will have on the voluntary carbon markets,” said Dana Gibber, Chief Executive Officer at Flowcarbon.
The Watr ecosystem bridges the institutional giants of commodities and retail participants with web3’s leading technologists. The combined potential is immense and immediately material to global dilemmas around the footprint of our consumption - in agriculture, metals and energy. Flowcarbon is an important part of the puzzle to meet these demand requirements with high-quality, verified carbon credits. The novel business models and infrastructure emerging from this partnership will enable more efficient and democratized financing of climate action while providing connectivity to commodity flows for industry, end-consumers, traders - and ultimately at-scale onramps for retail participation.
“We see the tokenized voluntary carbon market as a powerful tool for inclusion. It allows a broad capital base to participate in climate action alongside institutions and traditional finance. It also allows intimacy with sources such that DeFi, industrial and traditional capital can be focused on the geography, project and community of their choice - even linking climate finance to the very communities from which extraction and production of commodities is occurring. This intimacy and inclusion is game changing and we see Flowcarbon’s leading ecosystem, technology and talent as important enablers of this future,” said Maryam Ayati, Co-Founder and Council President at Watr Foundation.
The next iteration of how society consumes and how resources fuel global prosperity requires new business models and tools to ensure a more balanced outcome: people and planet alongside profit. To this end, the partnership sees the two organizations also collaborating on a series of incentivized development programs focused on the VCM. The endgame is to establish thriving marketplaces and infrastructure that bring greater accountability, scale, accessibility, transparency and price discovery to the voluntary carbon market and commodities.
For those interested in participating, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Watr
Watr is the digital commons for ethical commodities. A public Layer 1 protocol and Polkadot parachain for d’apps servicing provenance, procurement, financing and trade in the $17 trillion Dollar commodities industry: from carbon credits to metals, agriculture, and energy. The objective is Interoperability across digital ventures servicing the end-to-end of a new class of ethical commodities for physical delivery. Watr is co-founded in a first-of-its-kind collaboration between industry giants, commodities, and Web 3 pioneers including Parity Technologies.
About Flowcarbon:
Flowcarbon is a pioneering climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work visit our blog.
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Sunnova’s distributed energy systems to form virtual power plant that can help defer costly distribution system upgrades while supporting resiliency
HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. (“Sunnova”) (NYSE: NOVA), one of the leading U.S. Energy as a Service (EaaS) providers, today announced plans to deploy energy from its aggregated Adaptive Homes to alleviate peak capacity needs and strengthen the grid in a predominantly low to moderate income (LMI) community within Pacific Gas and Electric Company’s (“PG&E”) (NYSE: PGE) Northern California service area.
“Our virtual power plant capabilities can be leveraged through a targeted approach to relieve grid stress in focused areas during specific event windows within PG&E’s service area,” said McCrea Dunton, Senior Director, Energy and Grid Services at Sunnova. “Sunnova is proud to work with PG&E on one of its first deployments of behind the meter (BTM) battery storage systems as a non-wires alternative that provides our customers with increased energy resiliency.”
Sunnova’s aggregated portfolio of customers with solar + storage systems defers the need for PG&E to upgrade the distribution infrastructure at certain substations cost-effectively extending the useful life of that existing grid infrastructure, while accommodating for customer energy demand. PG&E’s annual Distribution Resource Plan (DRP) identifies areas that could benefit from distributed energy resource deployments that would avoid or defer traditional electric distribution system upgrades and forecasts the load growth within the service territory. The DRP indicated that targeted areas of the distribution system will require increased capacity for only a handful of hours per year, and Sunnova’s distributed assets are perfectly positioned to efficiently meet that need while supporting clean energy and homeowner resiliency needs.
Since the California Public Utilities Commission (CPUC) established the Distribution Investment Deferral Framework (DIDF) in 2018, the CPUC has approved over 34 megawatts (MWs) of battery storage contracts for the IOUs with 16 MWs awarded in PG&E’s service area1. In the past five years, the California residential market has deployed over 530 MWs worth of battery storage systems and half of those deployed systems are in PG&E’s service area2. The annual DIDF process identifies, reviews and selects opportunities where existing or new BTM systems can be leveraged to alleviate future grid stress.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “going to,” “could,” “intend,” “target,” “project,” “contemplates,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the implementation, deployment, and benefits of the virtual power plant. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, supply chain uncertainty, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021 and our subsequent Quarterly Reports on Form 10-Q. The forward-looking statements in this press release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading Energy as a Service (EaaS) provider with customers across the U.S. and its territories. Sunnova’s goal is to be the source of clean, affordable, and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.
For more information, please visit sunnova.com
1 https://www.cpuc.ca.gov/-/media/cpuc-website/divisions/office-of-governmental-affairs-division/reports/2020/californias-grid-modernization-report-2020.pdf
2 https://www.californiadgstats.ca.gov/charts/
Media:
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877-770-5211
DUBLIN--(BUSINESS WIRE)--The "Small Marine Engines Market by Model (Gasoline, Diesel, Electric), Placement (Outboard, Inboard), Application (Recreational Boats, Support Vessels, Coastal Boats, Fishing Boats), Displacement (Up to 2 L, 2-4 L, 4-6 L) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global small marine engines market is expected to reach USD 10.3 billion by 2027 from an estimated USD 7.8 billion in 2022, at a CAGR of 5.5% from 2022 to 2027.
The growth of the small marine engines market is proportional to the growth of the boatbuilding industry. Apart from this, an increase in the fishing activities and the rising investments in oil and gas exploration has led to the increased use of support vessels and barges. They require small marine engines for propulsion and hence the market is expected to experience a growth in demand during the forecast period.
Diesel: The largest-growing segment by model in the small marines engines market
Based on model, the diesel based small marine engines are expected to occupy the largest share in the small marine engines market. Diesel engines are used in marine vehicles such as boats, ships, and submarines. Diesel engines are significantly more expensive than gas-powered engines as they are built to tighter tolerances and can stand much more abuse than their gasoline counterparts.
Diesel engines, when maintained properly, can give 6,000-8,000 hours of good use before needing a major overhaul. This means, some diesel engines can easily last the full lifetime of the boat. Most boaters prefer diesel because of durability. Other reasons include safety and/or economy. Diesel fuel is not as volatile as gasoline and does not explode.
Outboard: The largest segment by placement in small marine engines market
The small marine engines market has been segmented into outboard, inboard, and others. Others include stern-driven and jet propulsion engines. The main difference between an inboard and an outboard engine is their placement in the boat. Outboards can be flexibly used and they are commonly used for fishing, water sports, and pleasure boating.
Most of the boats have outboard engines, because of their ease of use and low maintenance costs. The outboard engines are seen mostly on pontoons, aluminum boats, bass boats, bowriders, small cruisers, and some high-performance off-shore speed and fishing boats. Boats that are used for recreational cruising or fishing are most likely to have outboard motors because the benefits are more advantageous in this setting.
Asia Pacific: The fastest-growing region in small marine engines market
Asia Pacific is expected to be the fastest growing region owing to the increasing fishing and recreational activities in countries such as China, India, and Japan. As the oil & gas exploration and production activities pick up pace, the demand for support vessels is likely to spur, leading to a growth in demand for small marine propulsion systems.
The demand for small marine engines in the defense sector is also projected to increase because of the ongoing territorial conflicts among countries such as China, the Philippines, North Korea, Japan, India, Vietnam, Pakistan, and Afghanistan, thereby driving the marine engines market in the region. Asia Pacific offers enormous scope for the small marine engines market as the region comprises a large number of developing countries that represent enormous trade opportunities.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/k1yh8b
ResearchAndMarkets.com
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City of London Corporation Recognized at Itron Inspire 2022 for Addressing Real-World Challenges of Climate Disruption
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#Award--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that the City of London Corporation (City Corporation) is the winner of the 2022 Itron Innovator Award for proactively addressing the City’s most pressing needs related to climate disruption and disaster recovery. The award, presented at Itron Inspire 2022, recognizes a customer that has taken advantage of Itron’s partner enablement programs to deliver a breakthrough solution that solves challenges in energy and water efficiencies and smart communities. The City Corporation was recognized for its collaboration with Itron partner Urban Control to utilize the existing smart streetlight communications network along with IIoT sensors and smart applications to gather and analyze data to help determine the best way to manage and prepare for severe weather events before they become catastrophic. The project is being carried out as part of the City Corporation’s Climate Action Strategy.
Urban Control has worked with Itron and the City Corporation to identify new IoT applications and solutions that can be added to the existing industrial IoT (IIoT) mesh network canopy, including temperature, humidity and soil moisture sensors. Upon deployment, the sensors will monitor trends over the next 20 years to identify whether interventions, such as sustainable drainage systems (SuDS) and urban greening of “heat islands”, are helping to avoid disruptive temperatures and flooding of the City’s streets. Ongoing monitoring of street temperatures and soil moisture will help reduce the costs of maintenance and irrigation and provide real-time data to help the City Corporation evaluate which climate resilience interventions are the most effective in the face of severe weather patterns.
“The City of London Corporation is very deserving of the Itron Innovator Award. The collaboration between Itron, Urban Control, the City Corporation and other community stakeholders is an excellent example of how diverse groups can come together to address the evolving needs and challenges of communities across the globe. It is also a great example of the power of Itron’s extensive partner ecosystem,” said Ben Huggins, senior vice president of Customer and Market Experience at Itron.
“We are pleased to be recognised for our work with Urban Control on this innovative sensor network, which will help the City of London avoid disruption from climate change-related weather events such as flooding, heatwaves and drought. This scheme forms part of the City Corporation’s ambitious Climate Action Strategy, which commits us to achieving net zero carbon emissions for our own operations by 2027 and supporting the achievement of net zero for the City as a whole by 2040,” said Keith Bottomley, Chairman of the City of London Corporation's Port Health & Environmental Services Committee.
The Itron Innovator Award recognizes a utility or city customer that has leveraged Itron’s partner enablement programs to deploy a breakthrough solution. The solution demonstrates an Itron customer’s use of ecosystem tools and services such as development kits and innovation challenges or the customer’s selection of a partner that has done so. Additionally, the solution has been successfully integrated with Itron technology and utilizes Itron’s networks, software solutions or distributed intelligence capabilities. Past winners include CPS Energy in 2021 and Western Power in 2020.
Itron’s vibrant partner ecosystem is essential in delivering innovative industrial IoT solutions to create a more resourceful world. With Itron’s ecosystem, cities and utilities are taking advantage of Itron’s partner network to deliver best-in-class solutions for today’s challenges such as improved operations and resource efficiency, enhanced safety and smart connected communities. To learn more about the Itron partner enablement programs, visit https://itron.com/partners.
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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