Finalists for the National Association of Energy Service Companies (NAESCO) awards will be recognized at the upcoming R3 Conference
WASHINGTON--(BUSINESS WIRE)--The National Association of Energy Service Companies (NAESCO), the leading advocacy and accreditation association representing companies modernizing our nation’s building infrastructure through energy efficiency projects, today announced three finalists for the NAESCO Award to be presented at its upcoming Renovate, Retrofit, Reduce (R3) Conference and Innovation Expo in Orlando, FL.
The NAESCO Award honors the achievements of and recognizes exemplary projects from member companies that show the full potential of public-private partnerships. Efforts recognized by this award include significant or unique savings, innovative project approaches or technology uses, overcoming significant project obstacles, achieving environmental justice goals, and incorporating community development and outreach, among others.
This year’s finalists include:
NAESCO Award winners will be announced on Wednesday, November 9 at the upcoming R3 Conference in Orlando. The conference, hosted by NAESCO, will include three days of energy efficiency programming, exhibits displaying the latest energy efficiency technologies, and a sustainability tour of the Orange County Convention Center. The R3 Conference coincides with the third annual National ESCO Week, highlighting the contributions of over 2 million Americans employed in the sector.
About NAESCO
The National Association of Energy Service Companies (NAESCO) is the leading advocacy and accreditation organization for Energy Service Companies (ESCOs) and is dedicated to modernizing America’s building infrastructure through performance contracting. Uniting the energy service industry, NAESCO promotes favorable government policies; sponsors a rigorous accreditation program; provides training and education; and champions the interests of ESCOs across the nation.
ESCOs contract with private and public sector energy users to provide cost-effective energy efficiency retrofits across a wide spectrum of client facilities, from college campuses to water treatment plants. Effectively utilizing a performance-based contract business model, ESCOs have implemented more than $70 billion in comprehensive energy efficiency retrofit projects over the last three decades.
Learn more about NAESCO, its members, membership benefits, and accreditation process at www.naesco.org, and follow NAESCO on Twitter (@NaescoNews) and LinkedIn (@naesco).
Media Contact for NAESCO
Jen Fletcher
On behalf of NAESCO
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$250,000 fund will support immediate needs for Nova Scotians living in poverty and impacted by Hurricane Fiona
HALIFAX/KJIPUKTUK, Nova Scotia--(BUSINESS WIRE)--United Ways in Halifax, Northeastern Nova Scotia and Cape Breton are launching the United Hurricane Relief Fund, powered by a $250,000 investment from Emera Inc. and Nova Scotia Power. The fund will provide immediate relief funding to help community agencies supporting those most in need in the wake of Hurricane Fiona.
“When a disaster like a hurricane occurs, it disproportionately impacts people living in poverty,” says Sara Napier, President and CEO of United Way Halifax. “Community agencies are often a first point of contact and a trusted resource for vulnerable and marginalized community members. Our agencies have seen unprecedented demand for food, transportation and other basic needs. This partnership with Emera and Nova Scotia Power helps us take real-time action to address these demands and support those most impacted.”
The establishment of the United Hurricane Relief Fund enables funds to be disbursed immediately to the areas of the province that were hardest hit by Hurricane Fiona – in particular, Cape Breton, Northeastern Nova Scotia, and the Halifax Regional Municipality. The fund will be managed by United Way Halifax in collaboration with the United Way of Pictou County and United Way Cape Breton.
“Hurricane Fiona was the largest hurricane in Canadian history, causing unprecedented devastation across Nova Scotia and disproportionately impacting Nova Scotians living in poverty,” says Scott Balfour, President and CEO of Emera Inc. “By quickly mobilizing with United Way to launch the United Hurricane Relief Fund, our goal is to ensure those most impacted can get the urgent help they need right away. We continue to be inspired by the incredible resiliency and kindness of Atlantic Canadians and hope this investment inspires others in the business community to donate to the relief fund as well if they can.”
“Our crews on the ground are seeing firsthand the damage and devastation caused by Hurricane Fiona,” says Peter Gregg, President and CEO of Nova Scotia Power. “While our teams focus on restoring electricity to those still without power, we know United Way and their community agency partners across Nova Scotia are well- positioned to provide the urgent help needed by many Nova Scotians in the wake of this historic storm.”
About the United Hurricane Relief Fund
The United Hurricane Relief Fund is intended to complement other relief efforts. It will address challenges of low-income Nova Scotians who lost income due to the hurricane, may be precariously employed, face additional barriers associated with mental health challenges, or may be experiencing homelessness or food insecurity. Future efforts may focus on partnerships to support people experiencing homelessness during extreme weather events.
Local organizations and businesses who would like to contribute to the fund are encouraged to contact Liz Struijf-Mandishora at United Way Halifax (This email address is being protected from spambots. You need JavaScript enabled to view it.). An anonymous donor has already stepped up since the fund was established earlier today with an $80,000 contribution, bringing the total impact of the fund to $330,000 so far.
The United Hurricane Relief Fund will focus on a continuum of community needs and supports:
United Ways are coordinating a streamlined application process beginning today to ensure funds can be distributed through trusted community agencies as early as this weekend/Monday.
About United Way
United Ways in Nova Scotia are donor-funded, local impact organizations bridging gaps for people experiencing poverty and marginalization. They change lives in their communities by providing funding, creating solutions, partnering with others and advocating for change. United Ways in Nova Scotia are situated in Mi’kma’ki, the ancestral and unceded territory of the Mi’kmaq people.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $34 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. As with all community investments made by Emera and its operating companies, this $250,000 contribution comes from shareholder investments and not customer rates. Additional information can be accessed at www.emera.com or at www.sedar.com.
About Nova Scotia Power
Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides 95% of the generation, transmission and distribution of electrical power to more than 525,000 residential, commercial and industrial customers across Nova Scotia. The company is focused on new technologies to enhance customer service and reliability, reduce emissions and add renewable energy. Nova Scotia Power has over 1,700 employees and $4.1 billion in operating assets. Learn more at www.nspower.ca.
MEDIA:
United Way
Sarah White 782-234-2504
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Emera
Emma Cochrane 902-943-0537
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Nova Scotia Power
Jacqueline Foster 902-225-4735
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The new offering was announced alongside existing and prospective retail customers this week at the 2022 National Association of Convenience Stores (NACS) Show
LAS VEGAS--(BUSINESS WIRE)--On Monday, FreeWire Technologies, the leading manufacturer of ultrafast, battery-integrated EV charging equipment and solutions, announced a vendor financing partnership with Patriot Capital Corporation for its flagship product, Boost Charger™. The announcement occurred at this week’s 2022 National Association of Convenience Stores (NACS) Show in Las Vegas, Nevada.
By funding 100% of the project cost through a simple application process and tapping into attractive federal and state incentive programs, Patriot Capital and FreeWire will provide retail customers the ability to deploy EV charging equipment in a turnkey way. As a result, retailers can spread charger project costs over time while generating revenue from EV charging and driving additional foot traffic to their site on day one.
“Through our partnership with Patriot Capital, FreeWire is pleased to introduce a new vendor financing option for Boost Charger purchases,” said FreeWire CFO, Michael Beer. “Our new financing offer will provide retail customers with capital flexibility to fund electric vehicle (EV) charging equipment, adding an attractive amenity with a minimal upfront cost.”
Furthermore, FreeWire’s unique battery-integrated design enables Boost ChargerTM to seamlessly connect to existing infrastructure without burdensome construction costs and complex permitting restraints. Boost Charger features a 160 kWh battery capacity and only needs a fraction of the input power required of legacy charging while delivering 200 kW of high-power charging to all EV makes and models.
“We are thrilled to partner with FreeWire to provide our exceptional financial solutions combined with an easy process and keen focus on enabling retailers and commercial customers to acquire the FreeWire Boost Charger,” said Chris Santy, President of Patriot Capital. “FreeWire’s Boost Charger is a dynamic and flexible solution that we know will resonate with customers who want to offer all available “fueling” solutions, including EV charging, to their growing customer base. We are excited about the opportunity to help FreeWire and their customers capture the growing EV market.”
FreeWire anticipates that the increased availability of EV charging incentives at the state and federal levels will increase franchisee demand and significantly improve return on investment for site hosts. Through the National Electric Vehicle Infrastructure Program (NEVI), for example, states will be investing $5 billion over the next several years to support the deployment of ultrafast EV charging along designated corridors. Learn more, here: https://freewiretech.com/nevi-program/
Additionally, FreeWire’s battery-integrated charging technology is uniquely positioned to be eligible for either an EV charging investment tax credit or an energy storage investment tax credit through the recently passed Inflation Reduction Act (IRA). In either instance, customers will be able to capture a business tax credit that will offset up to 30 percent of the total costs of purchase and installation of charging equipment, up to $100,000 per charger.
About FreeWire Technologies
Founded in 2014, FreeWire Technologies is a global electric vehicle (EV) charging and energy solutions provider and a leading manufacturer of ultrafast, battery-integrated EV charging stations and power solutions. FreeWire’s fully-integrated Boost ChargerTM plugs into existing and ubiquitous low-voltage utility service and delivers high-power charging in areas that typically require extensive grid upgrades. The Boost Charger’s proprietary battery and power conversion technology enables ultrafast EV charging at all locations, freeing customers from the high costs of EV charging directly from the electric grid. FreeWire’s technology is deployed across Fortune 100 companies, commercial and utility customers, fleets, retail locations, and gas stations across the U.S. As the world seeks to electrify with the urgency it demands, FreeWire is a trusted partner to conventional fuelers –both small and large– supporting their entrance into the EV charging market and increasing the availability and reliability of EV charging across America.
About Patriot Capital Corporation
Patriot Capital Corporation celebrates its 22nd year of enabling entrepreneurs to succeed by providing hassle-free equipment financing to retailers in the convenience store and commercial fueling industry together with other retail and manufacturing industries. Patriot has been recognized as “Best in U.S”. by the EMA, Energy Marketers of America. Patriot Capital is the leading provider of capital equipment financing and leasing to NACS (National Association of Convenience Stores), EMA, and SIGMA (Society of Independent Gasoline Marketers of America) members. Most importantly, our 7500 customers nationwide turn to us to grow their business while retaining their capital and bank relationships for future growth. For additional information, please visit www.patriotcapitalfinance.com. Patriot Capital is headquartered in Atlanta, Georgia.
Daniel Zotos, Director of Communications
(617) 448-7497 | This email address is being protected from spambots. You need JavaScript enabled to view it.
As U.S. and Canada catch up on decarbonization, new technologies help utilities integrate renewable energy sources and prosumer customers, ISG Provider Lens™ report says
STAMFORD, Conn.--(BUSINESS WIRE)--$III #CustomerInformationSystems--North American utilities are adopting digital technologies and services to meet the requirements of decarbonization, changing customer expectations and new legislation, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The 2022 ISG Provider Lens™ Power and Utilities — Services and Solutions report for North America finds utilities in the U.S. and Canada face both challenges and opportunities in the transition to more renewable energy. Like utilities in Europe, where the drive for decarbonization began earlier, they are transforming legacy systems and services to support the move to clean energy use while ensuring grid reliability, security and cost optimization.
“North America’s utility industry is evolving from a highly risk-averse commodity business to a place of rapid innovation,” said Bob Lutz, partner, Energy & Utilities, at ISG. “Everything from infrastructure to business models is beginning to change.”
Governments and corporations in North America are catching up to their European counterparts with initiatives for net-zero carbon emissions, putting pressure on utilities to integrate more clean energy sources into the grid, the report says. Both enterprise and residential consumers are becoming prosumers, with solar panels and other resources that let them sell excess power back to the grid. The increasing popularity of electric vehicles (EVs) further complicates energy demands.
New technologies are helping to future-proof North American utilities against these changes, ISG says. In particular, by collecting more data on the grid and consumers, utilities are improving service reliability and customer service. However, to realize the full potential of data, they need to address issues around data access, quality and governance. Many utilities also face unique challenges to using cloud-based solutions, because current rules allow them to capitalize purchases of on-premises software but not subscriptions to cloud services, the report says.
“To improve grid operations and engage with customers as the energy market changes, utilities need a strong digital foundation,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Service providers are delivering key capabilities across the grid, in customer engagement and even through business processes to build that foundation.”
The report also examines several other trends in the North American utilities industry, including new revenue opportunities, a shortage of qualified talent and the importance of IoT.
For more insights on the challenges North American utilities face and advice on how to address them, see the ISG Provider Lens™ Focal Points briefing here.
The 2022 ISG Provider Lens™ Power and Utilities — Services and Solutions report for North America evaluates the capabilities of 33 providers across five quadrants: Intelligent Business Process Management Services (iBPMS), Next-Gen IT Services, Grid Modernization, Enterprise Asset Management (EAM) and Customer Information Systems.
The report names Accenture, IBM, Infosys and TCS as Leaders in all five quadrants. It names Cognizant and Wipro as Leaders in four quadrants each and Capgemini, HCL and Hitachi Vantara as Leaders in three quadrants each. Alorica and Tech Mahindra are named as Leaders in two quadrants each, and Genpact and Teleperformance are named as Leaders in one quadrant each.
In addition, Capgemini, Coforge and LTI are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.
The 2022 ISG Provider Lens™ Power and Utilities — Services and Solutions report for North America available to subscribers or for one-time purchase on this webpage.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.
About ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.
Press Contacts:
Will Thoretz, ISG
+1 203 517 3119
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Julianna Sheridan, Matter Communications for ISG
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, October 28, 2022, at 11:00 a.m. ET (8:00 a.m. PT).
Conference Call Information:
Date: Friday, October 28, 2022
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 877-502-9276
Conference ID #: 9382025
Speakers:
Mike Wirth – Chairman of the Board & Chief Executive Officer
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations
To access the live webcast, visit www.chevron.com.
The meeting replay will also be available on the company website under the “Investors” section.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
Media Contact:
Braden Reddall
+1 (925) 842-2209
DUBLIN--(BUSINESS WIRE)--The "Underwater Communication System Market Size, Share & Trends Analysis Report by Component, by Connectivity, by Application (Environmental Monitoring, Pollution Monitoring), by End-user, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global underwater communication system market size is expected to reach USD 7.20 billion by 2030, according to this report. The market is anticipated to expand at a CAGR of 10.1% from 2022 to 2030.
Companies Mentioned
Underwater communication is a way of transmitting and receiving messages beneath the water surface. The use of acoustic waves rather than electromagnetic messages distinguishes underwater acoustic communication from terrestrial communication. The worldwide underwater acoustic communication market is being driven by increased undersea research operations, notably for environmental protection.
Underwater communications are classified into two types, namely, hardwired and wireless. Data is transported by cable in a hardwired connection. By removing the impact of outside elements, hardwired communications, comparable to a landline phone, provide the highest quality and most dependable kind of underwater communications. Water is used to convey data in wireless communication. Underwater wireless communications are used for environmental monitoring, underwater exploration, and scientific data collection.
One of the primary causes for the expansion of underwater communication systems is an increase in defense spending by various countries. Threats, concerns about disputed territories, and security concerns have led to an increase in worldwide defense spending. The naval defense system relies heavily on underwater communication for safety and dependability. It is used by the military to detect incursions and perform underwater surveillance.
Underwater Communication System Market Report Highlights
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope Outlook
3.1. Market Segmentation
3.2. Underwater Communication Systems Market Size & Growth Prospects
3.3. Underwater Communication Systems Market - Value Chain Analysis
3.4. Underwater Communication Systems Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Market Opportunity Analysis
3.5. Underwater Communication Systems Penetration & Growth Prospects Mapping
3.6. Underwater Communication Systems Market - Porter's Five Forces Analysis
3.7. Underwater Communication Systems Market - PEST Analysis
3.8. COVID-19 Impact Analysis
Chapter 4. Underwater Communication Systems Market Component Outlook
Chapter 5. Underwater Communication Systems Market Connectivity Outlook
Chapter 6. Underwater Communication Systems Market Application Outlook
Chapter 7. Underwater Communication Systems Market End-user Outlook
Chapter 8. Underwater Communication Systems Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Analysis
9.1. Recent Developments and Impact Analysis, by Key Market Participants
9.2. Company/Competition Categorization (Key Innovators, Market Leaders, Emerging, Niche Players)
9.3. Vendor Landscape
9.3.1. Key company market share analysis, 2021
9.4. Company Analysis Tools
9.4.1. Market Position Analysis
9.4.2. Competitive Dashboard Analysis
Chapter 10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/gilr8u
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Funding will expand operations across the US and globally to meet increased property owner demand for affordable turnkey electric vehicle charging station networks
LOS ANGELES--(BUSINESS WIRE)--Loop Global Inc., an electric vehicle (EV) charging infrastructure company that provides property owners a turnkey, profitable solution for deploying EV charging networks, today announced the completion of a $40 million Series A-1 funding round. Loop will use the funds to expand its US operations, continuing to provide support to all 50 US states and expanding beyond the 15+ countries the company already supports. The funding round was co-led by Fifth Wall Climate, the largest venture capital firm focused on technology for the global real estate industry, and Agility Ventures, the corporate venture arm of Agility, a global leader in supply chain services, infrastructure and innovation. Additional investors in the round include Keystone National Group, an investment financing firm with a principal focus on real estate who has also provided Loop with an additional $20M financing facility to support the company’s rapid growth and the round was managed by investment banking partner B. Riley Financial.
“At Loop, we believe the transition to clean electric vehicles will only move as quickly as the EV charging infrastructure that is there to support it,” said Dustin Cavanaugh, Co-Founder and CEO of Loop. “Loop is streamlining this transition by making next generation EV charging infrastructure solutions for property owners that are uniquely affordable and provide the lowest total cost of ownership on the market.”
With as many as 230 million electric vehicles expected to be on the road by 2030, the demand for affordable and reliable EV charging infrastructure is extremely high, yet many property owners do not know where to begin when it comes to implementing the technology across their properties. Loop’s comprehensive suite of smart, simple and affordable EV charging products provide ready-made solutions for passive charging at home, work and on the go.
“By focusing on implementing charging networks where drivers are already spending the majority of their day, we are enabling consumers to eliminate the burden of having to go out of their way to refuel and allowing them to prioritize convenience above all else,” said Cavanaugh. “Loop has the vision of making EV charging affordable and accessible to the world by empowering property owners with turnkey solutions to create passive and profitable charging networks that prioritize convenience for EV drivers.”
To date, Loop has sold over 7,000 charging stations worldwide through its Network Partner Program, which consists of over 100 resellers and distributors that make up a combined network of over 750 electrical contractors. The company’s next generation EV charging solutions are currently being adopted by both national and international municipalities, as well as some of the largest commercial, retail, multi-tenant, fleet and hospitality businesses in the world including AvalonBay Communities and also Fifth Wall strategic limited partners such as Hudson Pacific Properties, and Starwood Capital.
“It’s no secret that electric vehicles are the future of the transportation sector,” said Peter Gajdoš, Fifth Wall Partner and Co-Lead of its Climate team. “Loop’s vision is to completely transform the delivery of turnkey EV charging networks through an end-to-end, cost effective solution which enables property owners to passively offer EV charging services to their tenants, employees or customers.”
"The net zero transition is real, and it's already in progress. Governments, businesses, and consumers around the world are spending to make greener choices, including on electric vehicles,” said Henadi Al-Saleh, Agility Chairperson. “But to achieve scale, we need to take an ecosystem view. It's not any one green technology alone that will move the needle, but rather the ability to create the supporting infrastructure that allows for widespread adoption. That's what we like about Loop; it helps reduce the barriers to cleaner transport for more people."
For more information, visit evloop.io.
About Loop:
Loop is one of the fastest growing electric vehicle charging network infrastructure companies in the world. The company provides turnkey hardware, software and ongoing operating service-based solutions that simplify and streamline the delivery of cost-effective public and private EV charging network infrastructure for commercial, multifamily residential, fleet and municipal real estate markets. Since their launch in 2019, Loop has grown to provide comprehensive EV charging solutions in all 50 US states as well as over 15 countries and growing.
About Fifth Wall:
Founded in 2016, Fifth Wall, a Certified B Corporation, is the largest venture capital firm focused on technology for the global real estate industry. With approximately $3.2 billion in commitments and capital under management, Fifth Wall connects many of the world's largest owners and operators of real estate with the entrepreneurs who are redefining the future of the Built World. Fifth Wall is backed by a global mix of more than 100 strategic limited partners (LPs) from more than 15 countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Host Hotels & Resorts, Ivanhoé Cambridge, Kimco Realty Corporation, Lennar, Lowe's Home Improvement, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and others. Fifth Wall believes this consortium represents one of the largest groups of potential partners in the global Built World ecosystem, which can result in transformational investments and collaborations with promising portfolio companies. For more information about Fifth Wall, its LPs, and portfolio, visit www.fifthwall.com.
About Agility Ventures:
Agility is a global leader in supply chain services, infrastructure and innovation. With a workforce of 50,000+ across its group of companies, Agility has a footprint in six continents and is a pioneer in emerging markets. Agility owns and operates businesses that include the world’s largest aviation services company; the market leader in industrial warehousing and logistics parks in the Middle East, South Asia, and Africa; a commercial real estate business developing a $1.2 billion mega-mall in the UAE; a liquid fuel logistics business; and companies specializing in customs digitization, remote infrastructure services, e-commerce enablement, digital logistics, and more. Agility invests in innovation, sustainability and resilience, and owns stakes in listed and non-listed companies that are reshaping logistics and transportation, energy, e-commerce, and other industries. For more information about Agility, visit: www.agility.com
Edelman
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SANTA BARBARA, Calif.--(BUSINESS WIRE)--#AI--idrive announces its newest strategic partnership with Vera Arastirma (Vera) a research and technology company and Netrapor. Netrapor is a Vera Research, Analytical Consulting Services, Research and Technology company established in 2010 to produce, manage and analyze data in the vehicle tracking sector. Vera is headquartered out of Istanbul, Turkey and is now the 65th country to join idrive’s partner program. Idrive is a leading provider of Artificially Intelligent (AI) software and hardware for precise driver monitoring.
In 2020, idrive initiated a global expansion by creating a network of highly skilled and professional partners/resellers to sell its products globally. Idrive currently offers a next-generation fleet monitoring platform that helps fleet operators save big by reducing preventable accidents, wasted fuel, theft, and fraud. Through a commitment to keep product costs low while also achieving superior technology, idrive develops 100% in-house in both Europe and the United States to ensure quality control of its products. This also allows idrive to have an open API and work with its partners to integrate with current services or products that they currently offer.
Vera will market and install idrive technology to both new clients and its current customer base. This will greatly enhance Vera’s offering to customers looking to upgrade outdated equipment such as 3G tracking devices with one low-cost solution. “This product is one of a kind,” says Atila Taș, Director, Vera group, “It has unmatched accuracy in 11 different AI-based ADAS and DMS all in a single easy-to-install the device. In addition, all of the AI is done on the edge which saves reaction time, allows in-cab alerts, and saves on data transfer costs. This is perfect for the Turkish market.”
Vera is currently headquartered in Istanbul, Turkey and sells to service to United States, United Kingdom, Austria and Korea. “Vera is perfectly positioned to take advantage of our technology with a wide range of experience in the Telematics space with over 50,000 vehicles under contract and an ever-expanding market,” said Călin Mihalascu, idrive’s Chief Revenue Officer. “We are proud to have them aboard,” he added.
With over 100,000 units sold to date, and more than 20 billion miles of road camera footage captured, idrive has over 50% growth year over year with closed partnerships in 65 countries – Vera being the most recent to join arms in helping unlock a new perspective in driver safety.
About idrive, Inc.:
Idrive, Inc., is a global leader in Video Telematics and Artificial Intelligence based services for the transportation industry. With over 10 years in the industry and one of the world’s biggest repositories of labeled and verified video data, idrive’s intelligent systems are enhanced by over 11 billion miles of driving data, deep learning and industry insights to produce a leading product that has saved hundreds of lives by preventing collisions through improved driving behavior. Idrive engineers, designs and manufactures all products and technology in-house. For all the latest idrive news follow us: Facebook and Twitter @idriveGlobal and LinkedIn http://www.linkedin.com/company/idriveglobal/
Kelli O’Neil
Idrive, Inc.
(805) 308-6094
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Related Links
www.idriveglobal.com
SAN RAMON, Calif.--(BUSINESS WIRE)--Complete Solaria, Inc. (“Complete Solaria” or the “Company”), a solar technology, services and financing company, and Freedom Acquisition I Corp. (NYSE: FACT), a publicly traded special purpose acquisition company, today announced a definitive agreement for a business combination that will result in Complete Solaria becoming a publicly listed company. Upon the closing of the business combination, the Company is expected to remain listed on the New York Stock Exchange under the new ticker symbol “CSLR”.
Creating a New Standard for the Adoption of Solar
Complete Solaria is the result of a merger between two leading U.S. residential solar companies, Complete Solar and Solaria (link to press release), which is expected to be completed in the fourth quarter of 2022, subject to customary closing conditions. The combination of these two companies would establish Complete Solaria as a full system operator with a compelling customer offering with best-in-class technology, financing, project fulfilment, and service, that will enable the Company to sell more product across more States in the United States. Complete Solaria is expected to offer packages of financing options for customers seeking to make the switch to a more energy-efficient existence.
Organic growth is projected to be strong, as Complete Solaria’s asset light model, secure supply network, and additional macro tailwinds from the Inflation Reduction Act (the “IRA”) support the Company’s strong investment and value creation profile.
Through the merger, Complete Solaria’s national geographic footprint is poised to expand materially, enabling it to capture additional national accounts, such as Starbucks. Complete Solaria will enlist and leverage its Solaria Pro Partners as builders and proxy license holders, in new markets across the U.S. As Complete Solaria is expected to be the only EPC (engineering, procurement and construction) company to control its own supply, these benefits are expected to result in greater security across the supply chain and provide additional margin gains for investors.
In addition, Complete Solaria will extend to the Solaria Pro Partners its program for customers wishing to finance their installations. This will allow for a one-stop shop facility through design, installation, and financing of a customer’s complete solar needs. This program is expected to boost partner sales, while driving lower monthly electricity costs for solar customers.
On a pro forma combined basis, Complete Solaria generated $80 million in revenue in 2020, which is projected to increase to over $120 million in 2022, and more than double to approximately $285 million in 2023, with the expectation of achieving breakeven EBITDA in the second half of 2023. Supported by the synergies underlying the merger of Complete Solar and Solaria, the Company is expected to experience significant profitable growth.
Will Anderson, CEO of Complete Solar, who will be CEO of Complete Solaria, commented, “Freedom recognizes our ability to scale rapidly both in the U.S. and internationally. Our business model will disrupt the solar industry as we provide the best solar products and services, while delivering the highest quality end-to-end experience to home and business owners and dramatically expanding customer access to solar. This transaction will help Complete Solar scale rapidly and meet the current demand we are seeing from our clients who desire to reduce high energy bills and contribute to a more sustainable future. We expect the recent Inflation Reduction Act will further accelerate a global energy transition, and our company is well positioned to capture that growth.”
Tidjane Thiam, Chairman of Freedom, said “Complete Solaria is positioned to be a leader in the attractive U.S. solar market, which is poised for many years of strong growth. We have been impressed by Will and the combined Complete Solaria team, who have demonstrated strong execution capabilities and delivered excellent results in their respective companies. This gives us confidence in the future prospects of Complete Solaria. Freedom has a global leadership team and a global set of investors, which will ensure that Complete Solaria can achieve its objectives in the U.S. but also beyond, including in Europe where we believe the growth potential for residential and small business use of solar energy is enormous. This has only been made more obvious by the current energy crisis. We are thrilled that Complete Solaria and their investors have selected us as their partner and are highly confident this will be a successful venture for all stakeholders.”
Beneficiary of the Inflation Reduction Act (IRA)
The recently enacted IRA increases individual savings for homeowners that make clean energy transitions. Rebates, tax credits, electric vehicle (EV) promotions, and other initiatives outlined in the IRA lay the foundation for significant solar adoption in the U.S., furthering Complete Solaria’s expected growth initiatives and expansion opportunities, including:
Strong Board and Corporate Governance
Complete Solaria will benefit from a strong Board of Directors, after the merger with Freedom, with board members who include:
Transaction Overview
The business combination values Complete Solaria at an implied $553 million pro forma enterprise value, at a price of $10.00 per share, prior to any potential redemptions by Freedom’s public stockholders. The pro forma enterprise value implies 1.9x the Company’s projected 2023 revenue.
The business combination transaction is expected to provide gross proceeds of $376 million, prior to any potential redemptions and payment of transaction expenses, which includes $346 million of cash held in Freedom’s trust account and promissory notes from certain investors. T.J. Rodgers and sponsor shareholders of Freedom Tidjane Thiam, Edward Zeng and Adam Gishen have entered into a binding agreement to purchase $7 million of convertible promissory notes, demonstrating their commitment to the transaction and belief in the combined company’s ability to create long term value. In addition, potential exists for investments of up to $23 million from additional investors prior to the consummation of the proposed business combination of Complete Solaria with Freedom. All Complete Solaria shareholders will roll 100% of their equity holdings into the new combined company.
The business combination transactions between Complete Solaria and Freedom have been approved by the Boards of Directors of each of Complete Solar, Solaria and Freedom. The transaction will require the approval of the stockholders of Freedom and Complete Solaria, and is subject to satisfaction or waiver of the conditions stated in the definitive agreements and other customary closing conditions, including review by the Securities and Exchange Commission (the “SEC”). The merger of Complete Solar and Solaria is currently expected to close in the fourth quarter of 2022, and the business combination between Complete Solaria and Freedom is currently expected to close in the first half of 2023.
Additional information about the proposed transactions, including a copy of the business combination agreement and related ancillary agreements in connection with the proposed business combination between Complete Solaria and Freedom, and an investor presentation, will be provided in a Current Report on Form 8-K to be filed by Freedom with the SEC, which will be available at www.sec.gov. More information about the proposed transactions will also be described in Freedom’s proxy statement/prospectus relation to the proposed business combination, which Freedom will file with the SEC and will be available at www.sec.gov.
Advisors
Cooley is serving as legal advisor to Complete Solaria. Paul Hastings LLP is serving as legal advisor to Freedom. Duff and Phelps will provide a fairness opinion to the Board of Directors of Freedom in connection with the proposed business combination with Complete Solaria.
Investor Conference Call Information
Complete Solaria and Freedom will host a joint investor conference call at 9:00AM EDT, today, October 3rd 2022, to discuss the proposed transaction. To listen to the prepared remarks via telephone, dial (877) 423-9813 (U.S.) or +1 (201) 689-8573 (International). The telephone replay will be available via telephone dial (844) 512-2921 (U.S.) or +1 (412) 317-6671 (International) and referencing the PIN 13733300. The replay will be available through October 13, 2022. A transcript of this conference call can also be found on Complete Solaria’s webpage at: www.completesolaria.com and will be filed by Freedom with the SEC, which will be available at www.sec.gov.
About Complete Solaria
Complete Solaria combines two of the leading residential solar companies in the U.S., Complete Solar and Solaria. The combination of businesses will create a compelling customer offering with best-in-class technology, which is expected to include financing, project fulfilment, and service allowing the combined company to sell more product across more markets and enable a package of financing options for customers wishing to make the switch to a more energy-efficient existence. Complete Solaria is backed by a world-class group of investors, including T.J. Rodgers and certain sponsor shareholders of Freedom. To learn more visit: www.completesolaria.com.
About Freedom
Freedom is a blank check company, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganisation or similar business combination with one or more businesses. Freedom is led by the Executive Chairman Tidjane Thiam, who previously served as CEO of Credit Suisse and Prudential.
Mr. Thiam has had significant involvement in the energy sector during his career. He designed and built three Independent Power Production (IPP) projects in the Ivory Coast (Ciprel I, Ciprel II and Azito), ultimately exceeding 500 MW in total. Ciprel I and II had significant environmental benefits as they ended the flaring of gas of the Ivoirian offshore fields. The Azito project won numerous awards as the first non-recourse privately financed IPP in Sub Saharan Africa and as combined cycle unit. Mr. Thiam also implemented various solar power projects, including a network of 250 solar powered rural health centres in areas not covered by the power grid. Mr. Thiam has also had significant involvement in energy policy formulation. In 2011, Mr. Thiam was appointed by Presidents Sarkozy and Obama as Chair of the G20 High Level Panel on Infrastructure, with a focus on the energy sector, and presented its policy conclusions to the G20 heads of state.
Senior management of Freedom also includes Chief Executive Officer Adam Gishen, and Edward Zeng, a proven entrepreneur with a strong track record of creating value for investors across financial services, technology and energy transition sectors. To learn more about Freedom, visit www.freedomac1.com.
Important Information and Where to Find It
This press release relates to proposed transactions involving Complete Solar, Solaria, Complete Solaria and Freedom. Freedom intends to file a registration statement (“Registration Statement”), which will include a proxy statement for the solicitation of Freedom shareholder approval and a prospectus for the offer and sale of Freedom securities in the proposed transaction with Complete Solaria, and other relevant documents with the SEC to be used at its extraordinary general meeting of shareholders to approve the proposed transaction with Complete Solaria. The proxy statement will be mailed to shareholders as of a record date to be established for voting on the proposed business combination between Freedom and Complete Solaria. INVESTORS AND SECURITY HOLDERS OF FREEDOM AND COMPLETE SOLARIA ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT DOCUMENTS 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 TRANSACTION. Investors and security holders will be able to obtain free copies of the Registration Statement, proxy statement, prospectus and other documents containing important information about Freedom and Complete Solaria once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov.
Participants in the Solicitation
Freedom, Complete Solaria and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies of Freedom’s shareholders in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction between Freedom and Complete Solaria will be contained in the proxy statement/prospectus pertaining to the proposed transaction when available at www.sec.gov.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transactions. This press release 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 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 of 1933, as amended, or an exemption therefrom.
Forward Looking Statements
This communication may contain certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed transactions. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions, but the absence of these words does not mean that a statement is not a forward-looking statement. Forward-looking statements are forecasts, predictions, projections and other statements about future events that are based on current expectations, hopes, beliefs, intentions, strategies and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk that the proposed transactions may not be completed in a timely manner or at all; (ii) the risk that the proposed business combination between Freedom and Complete Solaria may not be completed by Freedom’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Freedom; (iii) the failure to satisfy the conditions to the consummation of the proposed transactions; (iv) the effect of the announcement or pendency of the proposed transactions on the companies’ business relationships, operating results, and business generally; (v) risks that the proposed transactions disrupt current plans and operations of the companies or divert managements’ attention from the companies’ ongoing business operations and potential difficulties in employee retention as a result of the announcement and consummation of the proposed transactions; (vi) the outcome of any legal proceedings that may be instituted in connection with the proposed transactions; (vii) the ability to maintain the listing of Freedom’s securities on a national securities exchange; (viii) the price of Freedom’s securities may be volatile due to a variety of factors, including changes in the applicable competitive or regulatory landscapes, variations in operating performance across competitors, changes in laws and regulations affecting Freedom’s or the Complete Solaria’s business, and changes in the combined capital structure; (ix) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed transactions, and identify and realize additional opportunities; (x) the ability to recognize the anticipated benefits of the proposed transactions, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (xi) the evolution of the markets in which Complete Solaria will compete; (xii) the costs related to the proposed transactions; (xiii) any impact of the COVID-19 pandemic on Complete Solaria’s business; and (xiv) Freedom and Complete Solaria’s expectations regarding its market opportunities.
The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of documents filed by Freedom from time to time with the SEC, including the Registration Statement, when available. Such filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Freedom, Complete Solar, Solaria and Complete Solaria assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. None of Freedom, Complete Solar, Solaria or Complete Solaria gives any assurance that any of them will achieve its expectations.
Non-GAAP Financial Measures
This press release also includes certain non-GAAP (as defined below) financial measures the managements of Complete Solar and Solaria uses to evaluate their operations, measure their performance and make strategic decisions, including EBITDA. Complete Solar, Solaria and Freedom believe that EBITDA provides useful information to investors and others in understanding and evaluating the current and projected operating results of Complete Solar, Solaria and Complete Solaria in the same manner as management. However, EBITDA is not a financial measure calculated in accordance with generally accepted accounting principles in the United States (“GAAP”) and should not be considered as substitutes for revenue, net income, operating profit or any other operating performance measures calculated in accordance with GAAP.
Investor Relations – Complete Solaria
Sioban Hickie, ICR, Inc.
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Investor Relations – Freedom
Adam Gishen, Freedom Acquisition l Corp.
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Public Relations – Complete Solaria
Doug Donsky, ICR, Inc.
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Public Relations – Freedom
Andy Smith, Powerscourt (U.K.)
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DUBLIN--(BUSINESS WIRE)--The "2021 Hydrogen and Fuel Cell Industry in China" report has been added to ResearchAndMarkets.com's offering.
This report covers the latest data of FCEV population and numbers of hydrogen refueling station, detail analysis and comprehensive introduction of latest model city cluster project which covers goals and project of each model cluster city plans, and details of participating companies in the hydrogen energy value chain.
The report covers the details of hot topics such as the latest trend of higher rated power of fuel cells, the trend of domestic production of key components of fuel cell, and demonstration operation of large commercial vehicle applications. The current level of Chinese domestic technology for each fuel cell core component is also analyzed by visual graph, comparing it with overseas technology quantitatively.
The report also analyzed the cost of fuel cells and future prospects. New emerging application segment such as stationary fuel cell CHP system, fuel cell testing equipments, fuel cell manufacturing equipments etc. has also been added from this year's edition.
Key Topics Covered:
Part 1 Overview
Part 2 Central & Local Government Policies
Part 3 Fuel Cell Applications in China
Part 4 Fuel Cell Components in China
Part 5 Hydrogen Refueling Stations
Part 6 Total Cost of Ownership of HDTs
Part 7 Testing equipment
Part 8 Manufacturing equipment
Part 9 Finance
Part 10 Related organizations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/j8azpz
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SolarEdge offers an integrated solar + battery storage solution – meeting the utility’s demands for rapid and flexible deployment of backup power and providing enhanced energy efficiency for solar rooftop owners
MILPITAS, Calif. & SALT LAKE CITY--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), and grid operator Rocky Mountain Power today announced the qualification of the SolarEdge Home Battery to join Rocky Mountain Power’s award-winning Wattsmart Battery program.
This marks an important next step in Rocky Mountain Power’s efforts to leverage customer-generated solar power along with battery technology in the homes of over 60,000 existing rooftop solar customers in Utah and Idaho. SolarEdge’s addition will improve grid stability, enable greater use of renewables, and keep costs among the lowest in the nation.
Launched in 2021, the Wattsmart Battery program utilizes a growing fleet of residential batteries to help manage the electric system during peak usage periods.
The groundbreaking program has over 3,000 batteries currently enrolled in Utah and Idaho. The SolarEdge partnership will allow Rocky Mountain Power to take advantage of the fast response and accurate cloud control of SolarEdge smart inverters and distributed batteries to help balance the grid in real-time while building toward the grid of the future.
“Wattsmart is an innovative program, but what really sets it apart from other VPPs is the speed of deployment. While typical demand-response programs work on a day-ahead basis, the Wattsmart program is designed to respond on-demand with almost immediate response in unplanned grid events,” said Peter Mathews, SolarEdge North America general manager. “The more flexibility and speed battery assets can provide, the more valuable they are to grid operators – both as a contingency and frequency reserve. As we continue to move towards a net-zero economy, this level of optimization will become the standard for VPP models, allowing grid operators such as Rocky Mountain Power to build a resilient and flexible distributed energy grid of the future.”
Homeowners joining the Wattsmart Battery program with the DC-Coupled SolarEdge Home Battery will benefit from higher efficiency due to its ability to directly store DC power from the sun, reducing the number of energy conversions and reducing energy loss.
“When a customer participates in the program, they are partnering with Rocky Mountain Power to innovate for the future and become part of a sustainable energy grid solution,” said Bill Comeau, Rocky Mountain Power vice president of customer experience and innovation. “The SolarEdge Home Battery, along with its advanced grid-connectivity capabilities, will help us to advance that effort.”
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. SolarEdge is online at www.solaredge.com
About Rocky Mountain Power
Rocky Mountain Power provides safe and reliable electric service to more than a million customers in Utah, Wyoming, and Idaho. The company works to meet customers’ growing electricity needs while protecting and enhancing the environment. Rocky Mountain Power is part of PacifiCorp, one of the lowest-cost electricity providers in the United States. More information at rockymountainpower.net.
Lily Salkin
Global Public and Media Relations Manager
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Dana Noyman
Head of Corporate Communications and Global PR
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On a mission to displace fossil fuels and accelerate a scalable, affordable, secure clean energy transition, Enviva’s sustainably sourced wood biomass is set to decarbonize additional sectors like lime, steel, cement and sustainable aviation fuel
BETHESDA, Md.--(BUSINESS WIRE)--#Bioenergy--Today, Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced wood biomass, published a white paper that discusses unlocking the future of biomass beyond fossil fuels into other industrial applications, including steel, cement, lime, chemicals, and sustainable aviation fuel (SAF), among others. While Enviva’s sustainably sourced biomass is predominately used today to decarbonize power and heat generation, modern biomass will increasingly be used to reduce emissions in these hard-to-abate sectors that are responsible for nearly one-third of global CO2 emissions as governments, companies, and industry endeavor to mitigate their climate change impacts through net-zero emissions goals. All sectors ‒ including energy, construction, transportation, aviation, and food systems ‒ are looking to rapidly decarbonize, and sustainably sourced biomass is the only technologically advanced, scalable, and market-ready product poised to substantially mitigate climate change and decarbonize supply chains at large.
This week, Enviva, other industry experts, customers, and key supply chain partners are convening at the 2022 U.S. Industrial Pellet Association (USIPA) Conference in Miami, FL to discuss the industry’s outlook and opportunities to fuel the next wave of growth. Leveraging the most preeminent event in the industry, Enviva unveiled its white paper, Biomass: Unlocking a Future Beyond Fossil Fuel, which describes how Enviva’s wood biomass can offer a turnkey solution for decarbonization in several industrial applications based on a reliable, sustainable, large-scale producer, with a robust business spanning multiple continents. Many of the process temperatures, chemicals, and feedstocks currently derived from fossil fuels can be produced more cleanly and at a lower cost with sustainably sourced biomass. In fact, production of a wide range of liquid and gaseous fuels and industrial chemicals is made possible via wood biomass feedstock. Recently, Enviva announced its first U.S.-based SAF contract with Alder Fuels to deliver the biomass feedstock flexibility needed to achieve jet fuel decarbonization at scale.
“The wood biomass industry will play a pivotal role in carbon removals for the future, while also unlocking new value chains for hard-to-abate industries,” said Enviva President, Thomas Meth. “Enviva is at the forefront of this movement, offering a realistic solution that is available at scale today, building a global bio-based economy, from power and heat to new green industrial applications. Serving as a trusted, sustainably sourced biomass producer, Enviva will continue to meet growing global energy demand while pursuing new low-carbon applications for biomass.”
Looking to the future, the leading academic, scientific, and policymaking support continues to reinforce the European Union’s long-standing conclusions about the positive climate benefits of renewable energy with greater utilization of biomass. Most recently, the United States took historic action through the passage of The Inflation Reduction Act (IRA) that supports the global clean energy transition and climate change mitigation strategies by extending and modifying tax credits for the production of renewable energy from biomass and other technologies, as well as enhancing tax credits for carbon capture, utilization, and storage (CCUS) at both industrial facilities and power plants across the country.
SAF, green lime, green steel, and green cement offer opportunities today that will only grow in the future as our climate challenged world looks for more sustainable solutions. Enviva is proud to carry on and grow in its core mission of maintaining and improving the health of U.S. forests while reducing greenhouse gas emissions on a lifecycle basis around the world through new and expanded opportunities.
As Enviva looks to the future and the climate positive impacts that biomass has to offer, not only for the energy sector, but also in the production of critical industrial materials and biofuels, we invite you to read our new white paper – Biomass: Unlocking a Future Beyond Fossil Fuel here.
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
Jacob Westfall
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+1-301-657-5560
Service now covers 4 of the largest US ocean ports, largest land port of entry
LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services Inc., one of the largest supply chain solutions providers in North America, announced today an expansion of its transload strategy that includes new operations in Seattle and Laredo, Texas to solve for customers’ needs and provide quick access to outbound rail and highway transport.
Based on its industry-disrupting model and the success of previous operations, the company’s transloading service footprint now encompasses four of the largest ocean ports and the largest land port of entry into the U.S. All four facilities are located within close proximity to port and/or rail terminals and offer seamless access to J.B. Hunt’s 53’ intermodal container fleet and highway services, including the company’s J.B. Hunt 360box® drop-and-hook trailer program.
“The complexities of international shipping continue to impact how our customers bring freight into the domestic supply chain,” said Darren Field, president of intermodal and executive vice president at J.B. Hunt. “By growing the reach of our transload service and managing the drayage and loading processes for our customers, we can provide new levels of process oversight and visibility into their freight activity, particularly the critical first mile segment.”
Both new operations will enable J.B. Hunt to transfer customers’ international freight to equipment for domestic transport using the company’s transportation assets and capacity solutions. In addition to services already offered in the Northeast and Southern California, J.B. Hunt recently began operations at a facility at the southern border and plans to open a facility in the Pacific Northwest by November.
The Tacoma, Washington-based facility will service freight arriving at the Seattle and Tacoma ports and help relieve constraints resulting from the increase of international shipping demand. The operation will also complement a direct container-only joint service BNSF launched in August between its Tacoma South facility and Chicago. The two companies announced a joint initiative earlier this year to relieve intermodal capacity constraints.
The Laredo operation is one of the first transloading facilities available after crossing the border to enter the U.S. The location will provide a direct opportunity to growing nearshoring operations in Mexico while continuing support for inbound and outbound cross-border traffic. Freight entering and exiting the U.S. often requires transloading services because of regulation requirements, carrier and driver availability, and domestic capacity demand.
J.B. Hunt opened its first company-owned transload facility in November 2021 to assist shippers in the New York metro area with port drayage, transloading and inland linehaul solutions. The company expanded its transload footprint in July with a new facility and operations in Commerce, California to support international cargo in the Los Angeles and Long Beach areas.
J.B. Hunt operates one of the largest company-owned fleets in North America with approximately 111,000 intermodal containers, 20,000 tractors and 40,000 trailers. The company’s J.B. Hunt 360°® technology platform is an industry leader in digital freight matching and provides shippers with access to nearly one million trucks through qualified third-party carriers across the country.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., an S&P 500 and Fortune 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.
Brittnee Davie
Vice President - Marketing
479.419.3178
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NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, October 26, 2022 at 10 a.m. Eastern Time to discuss its third quarter 2022 earnings release.
To phone into the conference call, participants should register in advance using this link to receive a unique PIN and dial-in number. This conference call and subsequent replay will also be accessible by webcast (audio only).
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.
Forward-looking Statements
Certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, uncertainties inherent in the measurement and interpretation of geological, geophysical and other technical data. Estimates and projections contained in this release are based on the Company’s current understanding and assessment based on reasonable assumptions. Actual results may differ materially from these estimates and projections due to certain risk factors discussed in the Corporation’s periodic filings with the Securities and Exchange Commission and other factors.
Investor contact:
Jay Wilson
(212) 536-8940
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Media contact:
Lorrie Hecker
(212) 536-8250
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WEST SPRINGFIELD, Mass.--(BUSINESS WIRE)--Through an exclusive licensing agreement, ESG Clean Energy, LLC, developers of zero-carbon distributed power generation systems, announced today it acquired an extended patent (no. 11,415,052) issued by the U.S. Patent and Trademark Office for a new heat exchanger technology designed to significantly increases the power output of its carbon capture technology.
This patent covers the unique methods utilized in a previous apparatus patent acquired last March. It is the latest patent acquired by ESG for its growing portfolio of advanced power generation technologies that make natural gas-fueled power generation maintain high efficiency without losing energy in the carbon capture process. This makes the process of capturing carbon dioxide more economically feasible and more environmentally friendly.
The core innovation of this patent is an “exhaust-gas-to-exhaust-gas heat exchanger” that efficiently cools – and then reheats – exhaust from a primary power generator so greater energy output can be achieved with safe ventilation. Further, this invention enables the carbon dioxide to be more safely captured, contained, and packaged for commercial or other use.
“Acquiring this extended patent not only makes the power generation system more efficient, but it ultimately makes the process of capturing CO2 easier,” said Nick Scuderi, president of ESG Clean Energy. “We’re excited to take this new technology and incorporate it into our clean energy system.”
ESG currently has a number of projects in various stages of development that will utilize this and other patents to improve its power generation and carbon capture capabilities.
For more information about ESG Clean Energy, please visit www.ESGcleanEnergy.com.
About ESG Clean Energy, LLC
ESG Clean Energy, LLC (ESG) develops zero-carbon footprints and clean energy solutions for businesses and power providers using natural gas. The ESG system utilizes patented and conventional technology to efficiently produce electricity while capturing and converting nearly 100% of the carbon dioxide and water vapor, which can be used in the production of various commodities. More information about ESG Clean Energy and its technology can be found at www.ESGcleanEnergy.com.
Media:
Bill Wrinn
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Ph: 978-559-1970
Partners will pilot the REGENT seaglider at offshore wind farms and oil rigs, advancing the transition towards sustainable maritime transportation
NICE, France--(BUSINESS WIRE)--REGENT, the company pioneering the electric seaglider for sustainable high-speed maritime travel, and TotalEnergies, a French global multi-energy company that produces and markets energies and one of the top seven supermajor energy companies, today announced the launch of a strategic partnership to explore the use of REGENT’s all-electric seaglider for maritime travel to offshore wind and oil platforms. The collaboration will comprise robust information exchange, active requirements development, and use-case validation.
“One of the core questions of the 21st Century is how we will meet our energy needs. Connecting our first-of-its-kind all-electric seaglider with a company as deeply committed to exploring the future of energy as TotalEnergies is tremendously exciting and as natural a partnership as we could envision,” said REGENT CEO Billy Thalheimer. “The REGENT seaglider promises to make maritime travel faster, more cost-effective, and environmentally sustainable. By collaborating with industry leaders like TotalEnergies, we are advancing towards the global transition to clean transportation.”
The partners will identify global offshore energy sites and pilot the REGENT seaglider along a route to a selected platform. Following the initial pilot, REGENT and TotalEnergies will explore new routes and conduct additional pilots to drive forward longer-term cooperation opportunities.
“We are excited to work with REGENT to explore new avenues for the deployment of all-electric seaglider technology that aims to make maritime transit greener and more efficient,” said Ludovic Macé, Manager Logistics and Support to Operations“•This partnership is part of TotalEnergies' strategy to be a key player in electric mobility. and aligns with our strategic goals of reducing our carbon footprint and improving safety and operational efficiency”.
About REGENT
REGENT is pioneering the future of sustainable maritime mobility. REGENT builds seagliders, a new category of electric vehicle that operates exclusively over the water that will drastically reduce the time and cost of moving people and goods between coastal cities. Seagliders will service routes up to 180 miles at up to 180 mph with existing battery technology and up to 500 miles with next-generation batteries, via existing dock infrastructure. For more information, visit regentcraft.com or follow us on LinkedIn, Twitter, and Instagram.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
REGENT
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ComEd STEM Labs event encourages 50 Latino students to pursue STEM careers
CHICAGO--(BUSINESS WIRE)--To celebrate Hispanic Heritage Month and help address the underrepresentation of Latinos in science, technology, engineering and math (STEM) fields, ComEd hosted a STEM Labs event in which Latino high school students built their own robots, worked alongside ComEd engineers and explored STEM careers.
“ComEd is committed to diversifying the STEM workforce by providing opportunities for students to build their experience and confidence in this space,” said Lewis “Louie” Binswanger, Senior Vice President of Governmental and Regulatory Affairs at ComEd. “ComEd STEM Labs gives Latino students the opportunity to learn about, and be inspired by, the many career possibilities in STEM.”
Fifty Latino high school students from across northern Illinois participated in the STEM Labs program on Saturday at ComEd’s Chicago North facility. They worked in teams with ComEd mentors to build, code and test drive small robots under the guidance of special guest, Dr. Kate Biberdorf, a renowned author, chemist and science educator. In addition to networking with ComEd mentors and executives throughout the day, each student received a $250 scholarship upon completing the program.
Latino Americans make up 17% of the U.S. workforce, but only 8% of the STEM workers. Studies show that despite being as interested in STEM as other ethnic groups, Latino students are less likely to take STEM courses in high school, which decreases the likelihood they will pursue opportunities that lead to careers in STEM, according to the Student Research Foundation.
The ComEd STEM Labs program, an evolution of the ComEd Solar Spotlight program, established in 2016, is one of the many programs ComEd sponsors to encourage more students of color and women to pursue STEM careers. Other ComEd programs include the ComEd EV Rally for Chicagoland girls and the Stay in School Initiative.
The ComEd EV Rally, an evolution of the ComEd Icebox Derby program, educates and empowers young women to explore careers in STEM and become the innovative workforce of the future. The program provides girls the opportunity to learn about electric vehicles (EVs) and STEM, connect with female STEM mentors and build electric go-karts.
Students, parents and educators interested in being notified about upcoming ComEd STEM youth programs and when to apply can submit their email address at: STEMsignUp.com/ComEd.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
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MELBOURNE--(BUSINESS WIRE)--Rio Tinto has requested the resignation of Energy Resources of Australia’s (ERA) Chairman Peter Mansell to allow for board renewal and introduce new perspectives to address the material cost and schedule overruns on the critical Ranger rehabilitation project in Australia’s Northern Territory.
Following announcement of the cost and schedule overruns in February 2022, Rio Tinto has sought to work constructively with ERA’s Independent Board Committee (IBC) to find a funding solution to meet its rehabilitation obligations. This included engaging for several months on an interim entitlement offer that was deferred by the IBC in July 2022 when its proposed terms failed to obtain major shareholder support.
Despite this engagement, Rio Tinto has remained deeply concerned that the opposition to further uranium mining on the land of the Mirarr People, the Traditional Owners of the area, has not been appropriately recognised in any funding proposals put forward by the IBC.
Following last week’s release of the Grant Thornton independent valuation report which, in Rio Tinto’s view, failed to appropriately recognise the Mirarr People’s position, Rio Tinto asked the IBC to urgently develop a workable plan to fund the increased rehabilitation costs. To date, a suitable plan addressing the funding concerns has not been presented.
Rio Tinto chief executive Australia Kellie Parker said “Our utmost priority and commitment is to the rehabilitation of the Ranger Project Area in a way that is consistent with the wishes of the Mirarr People. However, given our recent dealings with the IBC and last week’s release of the Grant Thornton valuation report, we do not believe that can be achieved without renewal within ERA’s board.
“We thank Peter Mansell for his contribution to ERA over many years and acknowledge his efforts to find a funding solution. However, there remains a strong difference of opinion between Rio Tinto and the IBC on the terms of rehabilitation funding, with the IBC’s view that successful rehabilitation could underpin potential future growth opportunities, despite the Mirarr People’s long-held opposition to further uranium mining on their country."
“We look forward to working with ERA to facilitate board renewal and urgently develop a workable plan to fund the increased rehabilitation costs.”
Rio Tinto’s consistent position is that the terms of any ERA funding solution should reflect fair value having regard to:
While a funding solution for the rehabilitation is identified and agreed, Rio Tinto is progressing discussions to amend an existing A$100 million credit facility to assist ERA with its management of immediate liquidity issues.
Rio Tinto reiterates its commitment to the successful rehabilitation of the Ranger Project Area to a standard that will establish an environment similar to the adjacent Kakadu National Park.
This announcement is authorised for release to the market by Steve Allen, Rio Tinto’s Group Company Secretary.
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Rio Tinto plc
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Category: ERA
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, has announced the appointment of Frederick Morency as Vice President, Sustainability, Strategic Initiatives & Innovation to lead its Electrification and Sustainability strategy in Canada.
Frederick has been with Schneider Electric for 25 years and most recently served as Vice President, Services, where he orchestrated strong digital experiences between Schneider Electric’s partners, customers and core businesses. He has also been a quarterback for Sustainability in Canada for many years, guiding the company’s Environmental, Social and Governance (ESG) commitments to support local decarbonization efforts at all 20 sites across the country.
In this new role, Frederick will continue to lead Schneider Electric’s decarbonization actions for the country and will also be responsible for accelerating the company’s position in growth segments emerging with the energy transition. He will also collaborate with industry partners, government and other stakeholders to help advance climate action policies and regulations at federal and provincial levels.
“Driving the energy transition takes strong collaboration and commitment. Frederick will bring focused attention to our Sustainability and Electrification strategy and will build stronger synergy across our organization, with our partners and the market at large,” said Adrian Thomas, Country President, Canada, Schneider Electric. “The step-changes he will lead at local and national levels will cascade to advance our net-zero targets so we can achieve higher levels of climate action and to drive growth in new markets.”
“I am excited to help shape Schneider Electric’s trajectory for locally-led, globally-shared net zero vision in our operations and across all touchpoints of our business,” said Frederick Morency, Vice President, Sustainability, Strategic Initiatives & Innovation, Schneider Electric. “Climate action is a shared responsibility that requires planned action. I look forward to leveraging the power of partnerships to help chart a more robust path forward for Sustainability and Electrification in our market.”
About Schneider’s Sustainability Impact (SSI)
Schneider’s Sustainability Impact is the company’s global pledge to make operations carbon neutral in 2025 and to decarbonize its end-to-end value chain by 2040—ten years ahead of the 1.5 climate trajectory. SSI tightly aligns with the UN’s SDGs and features a dashboard to measure ESG performance in the following areas: climate, resources, trust, equal opportunities, generations and local communities. Schneider’s latest SSI score for these combined areas can be found here. Schneider Electric is one of the first 59 companies to receive validation from the Science Based Targets initiative, in line with the new Corporate Net-Zero Standard.
About Schneider Electric
Schneider Electric is an #ImpactCompany that provides energy and automation digital solutions to drive efficiency and sustainability for all. We combine world-leading energy technologies, real-time automation, software and services into integrated solutions for homes, buildings, data centers, infrastructure and industries. We make process and energy safe and reliable, open and connected, and efficient and sustainable. www.se.com/ca
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Media:
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero
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First-of-its kind integrated facility will create 20,000 direct and indirect jobs, and reduce port and freeway congestion around the Ports of Los Angeles and Long Beach
BARSTOW, Calif.--(BUSINESS WIRE)--BNSF Railway today announced plans to invest more than $1.5 billion to construct a state-of-the-art master-planned rail facility in Southern California – and the first being developed by a Class 1 railroad.
The Barstow International Gateway will be an approximately 4,500-acre new integrated rail facility on the west side of Barstow, consisting of a rail yard, intermodal facility and warehouses for transloading freight from international containers to domestic containers. The facility will allow the direct transfer of containers from ships at the Ports of Los Angeles and Long Beach to trains for transport through the Alameda Corridor onto the BNSF mainline up to Barstow. Once the containers reach the Barstow International Gateway, they will be processed at the facility using clean-energy powered cargo-handling equipment, and then staged and built into trains moving east via BNSF’s network across the nation. Westbound freight will similarly be processed at the facility to more efficiently bring trains to the ports and other California terminals.
“By allowing for more efficient transfer of cargo directly between ships and rail, the Barstow International Gateway will maximize rail and distribution efficiency regionally and across the U.S. supply chain and reduce truck traffic and freeway congestion in the Los Angeles Basin and the Inland Empire,” said Katie Farmer, President and CEO of BNSF. “This will play a critical role in improving fluidity throughout our rail network, moving containers off the ports quicker, and facilitating improved efficiency at our existing intermodal hubs, including those in the Midwest and Texas. The facility will also have an important positive economic impact, including the creation of new, local railroad jobs,” said Farmer.
“The significance of BNSF’s investment to improve the supply chain here in California cannot be overstated. Rail plays a critical role in moving goods safely and efficiently, while reducing emissions due to congestion in many of our high-traffic corridors,” said Trelynd Bradley, Deputy Director of Sustainable Freight and Supply Chain Development at the Governor's Office of Business and Economic Development. He added, “Projects like BNSF’s will work to strengthen our inland local economies, such as that of Barstow in San Bernardino County. We look forward to continuing to work with projects like these, as well as others, to drive transformative investments that will enhance and elevate California’s supply chain ecosystem for a more efficient and resilient tomorrow.”
“BNSF’s planned Barstow International Gateway will improve cargo velocity through our port and reduce truck traffic on our freeways,” said Port of Los Angeles Executive Director Gene Seroka. “This project will help ensure that goods moving through the San Pedro Bay will get to consumers, businesses and manufacturers with speed and reliability.”
“The Port of Long Beach welcomes BNSF’s planned Barstow International Gateway in the High Desert. This project will help improve supply chain fluidity, reduce environmental impacts and enhance the competitiveness of California and the nation’s largest port complex,” said Mario Cordero, Port of Long Beach Executive Director.
Dawn Rowe, San Bernardino County Supervisor for the Third District, added, “The County of San Bernardino plays a critical role in supporting the movement of goods to the rest of the country. Barstow International Gateway will be essential for modeling new and efficient ways to address supply chain issues that have impacted everyone over the past several years.”
Willie A. Hopkins, Jr., Barstow City Manager emphasized, “This facility will bring thousands of jobs to Barstow, while increasing equity, opportunity and the economic competitiveness of the High Desert.” He continued, “BNSF has been an important part of our city since its inception and on this 75th anniversary, we are proud to partner with them to ensure our success in the future.”
“We appreciate the support from leaders at the state, regional and city level and look forward to building on our 140-year history in the High Desert to open the Barstow International Gateway as soon as possible,” affirmed BNSF’s Farmer.
For more information, please visit Barstow International Gateway Project.
About BNSF
BNSF Railway is one of North America’s leading freight transportation companies. BNSF operates approximately 32,500 route miles of track in 28 states and also operates in three Canadian provinces. BNSF is one of the top transporters of consumer goods, grain and agricultural products, low-sulfur coal, and industrial goods such as petroleum, chemicals, housing materials, food and beverages. BNSF’s shipments help feed, clothe, supply, and power American homes and businesses every day. BNSF and its employees have developed one of the most technologically advanced, and efficient railroads in the industry. We work continuously to improve the value of the safety, service, energy, and environmental benefits we provide to our customers and the communities we serve. You can learn more about BNSF at www.BNSF.com.
Lena Kent
General Director, Public Affairs
(909) 386-4140
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