Proceeds to fund the scaling of its global operations and the introduction of new models
Investors include Polaris, Exor, Hero MotoCorp, long-time backer Invus, and others. – Additional closing anticipated by year end
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Zero Motorcycles, the global leader in electric motorcycles and powertrains today announced the completion of a new $107 million round of financing. The financing saw participation from strategic partners Polaris, Exor and Hero MotoCorp and financial investors including long-time backer Invus and other undisclosed investors.
“Since its launch in a Santa Cruz garage, Zero has defined the category of premium electric motorcycles and powertrains. Zero has sold over 20,000 vehicles that have accumulated over 165,000,000 miles of on-road and off-road experience. Zero has refined the most advanced powertrain technology between e-bicycles and cars driven by its Cypher III operating system. The company has also built an innovative, global brand that is highly respected in the industry,” said Sam Paschel, Chief Executive Officer of Zero Motorcycles. “This financing will fund the global scaling of our operations and sales and the development of additional new models to continue driving our rapid growth. We welcome our strategic partners and new investors to our syndicate and are grateful to Invus for their steadfast support and commitment to Zero’s vision and mission.”
Zero’s business strategy relies on three key pillars: consumer motorcycles where Zero carries a broad line of on-road, adventure sport and dual sports motorcycles, fleet sales where Zero is present in over 200 police departments and authority fleets, and powertrains where Zero technology contributes to the electrification of industry-leading applications by its partners.
With this round of financing, Zero Motorcycles has raised in excess of $450M of capital and will bring the cumulative capital raise to above $500M with an anticipated additional closing by year end. Zero Motorcycles has all the necessary resources to continue pushing the boundaries of two-wheeled EV’s and electric powertrains and leading the transformation of the motorcycle and powersports industry through electrification.
About Zero Motorcycles
Zero Motorcycles is the global leader in electric motorcycles and powertrains. Designed and crafted in California, Zero Motorcycles combines Silicon Valley technology with traditional motorcycle soul to elevate the motorcycling experience for forward-thinking riders around the world.
Natalie Kahn
This email address is being protected from spambots. You need JavaScript enabled to view it.
(858) 245-4238
Economic Headwinds Will Prove Formidable
BOSTON--(BUSINESS WIRE)--#5G--After turning the tide in 2020 from the first decline in more than a decade, RF GaAs device revenue continued its upward trajectory in 2021. The Strategy Analytics Advanced Semiconductor Applications (ASA) report “RF GaAs Device Technology and Market Forecast: 2021 - 2026” identifies 5G devices and networks as the primary reason for this growth, but it also points out some trouble on the horizon. The report forecasts that revenue will decline in 2022 as inflation, trade sanctions, supply chain issues and global economic uncertainty prove too much to overcome. Beyond 2022, growth will resume with RF GaAs device revenue approaching $9.3 billion by 2026. Wider deployment of 5G handsets and networks will be the growth engine for future RF GaAs device revenue growth.
“The RF GaAs device market has been pretty impervious to the forces affecting global economies the past few years,” noted Eric Higham Director of the Advanced Semiconductor Applications (ASA) and Advanced Defense System (ADS) service. “GaAs device revenue ties so strongly to the cellular market and the uptake of 5G with more RF content has powered revenue growth these past two years.” He went on to say, “However, we now see substantial softening of handset demand in 2022 that will cause RF GaAs device revenue to drop in 2022. Fortunately, the underlying growth trends remain strong and as inflation subsides and global economies get back to growth, RF GaAs device revenue will turn upward.”
#SA_Components
About Strategy Analytics
Strategy Analytics, Inc. is a global leader in supporting companies across their planning lifecycle through a range of customized market research solutions. Our multi-discipline capabilities include industry research advisory services, customer insights, user experience design and innovation expertise, mobile consumer on-device tracking and business-to-business consulting competencies. With domain expertise in smart devices, connected cars, intelligent home, service providers, IoT, strategic components and media, Strategy Analytics can develop a solution to meet your specific planning need. For more information, visit us at www.strategyanalytics.com.
For more information about Strategy Analytics
Advanced Semiconductor Applications Service: Click Here
Advanced Defense Systems Service: Click Here
Eric Higham, +1 617 614 0721, This email address is being protected from spambots. You need JavaScript enabled to view it.
The agreement will deliver renewable energy equal to half of the company’s U.S. electricity consumption
WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, recently signed an eight-year virtual power purchasing agreement with Enel North America to deliver a 90-megawatt (MW) portion of the Seven Cowboy wind project in western Oklahoma. Thermo Fisher will purchase approximately 400,000 megawatt hours (MWh) of renewable electricity, equal to half of the company’s current U.S. electricity needs.
As part of the company’s emissions-reduction strategy, Thermo Fisher plans to eventually transition most locations globally to renewable energy. Today, more than 60 sites worldwide are fully powered by renewable electricity, including seven facilities that generate 3.5 MW of solar power and 3 MW of wind energy. Another 15 MW of solar power projects are planned.
“By sourcing electricity from new wind and solar facilities we can help our customers meet their Scope 3 greenhouse gas reduction targets,” said Konrad Bauer, senior vice president, global business services, Thermo Fisher Scientific. “This project will more than double our use of renewable energy and, combined with our $20 million investment in green infrastructure earlier this year, supports our commitment to a net-zero value chain by 2050.”
“From policymakers and business leaders alike, momentum continues to build in the transition to clean energy,” said Paolo Romanacci, head of Enel North America’s renewable energy business, Enel Green Power. “This agreement enables both Thermo Fisher and their customers to move closer to their sustainability goals – an important step forward that supports new clean energy on the grid while decarbonizing their value chain.”
The Seven Cowboy Wind project is expected to be operational by the second half of 2023. Schneider Electric advised Thermo Fisher on this agreement. Additional information about Thermo Fisher’s environmental, social, and governance progress can be found at www.thermofisher.com/csr.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of approximately $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.
Media Relations
Sandy Pound
Phone: 781-622-1223
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor
Rafael Tejada
Phone: 781-622-1356
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE:NGVT) today announced the rebranding of the company’s adsorbed natural gas vehicle business (ANG) to NeuFuel™ to better reflect the company’s ability to help fleets immediately and cost-effectively transition to a cleaner, carbon-neutral fuel, and meet market needs to expand benefits to the diesel market, including existing diesel vehicles.
Ingevity’s NeuFuel solution enables vehicles to run on carbon-neutral renewable natural gas (RNG) and provides a more environmentally friendly option for light-duty trucks and vans. Introducing NeuFuel as an option for diesel fleets positions the company to respond to increased demand for low-cost sustainability solutions for existing in-service diesel vehicles such as school buses and delivery trucks and vans.
“What makes Ingevity’s NeuFuel solution unique is that it provides diesel fleets a proven, cost-effective pathway to zero emissions – today - when using their existing diesel vehicles,” said Ingevity executive vice president and president, Performance Materials, Ed Woodcock. “The name, NeuFuel, distinguishes Ingevity’s solution as an RNG carbon neutral fuel source that helps fleets effectively and efficiently advance their sustainability goals.”
The expanded NeuFuel product line is designed to pair with American CNG’s DEMI Diesel Displacer™ to create a dual-fuel, bolt-on solution for existing diesel fleets. Ingevity’s new diesel fuel partner joins a growing number of U.S. natural gas utilities, municipalities, and commercial fleets investing in NeuFuel-equipped vehicles. Additional information on the features and benefits of Ingevity’s NeuFuel technology can be found on the company’s website.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers, and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,850 people. The company is traded on the New York Stock Exchange (NYSE:NGVT). For more information visit www.ingevity.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements generally include the words “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” “believes,” “anticipates” or similar expressions. Forward-looking statements may include, without limitation, expected financial positions, guidance, results of operations and cash flows; financing plans; business strategies and expectations; operating plans; impact of COVID-19; capital and other expenditures; competitive positions; growth opportunities for existing products; environmental and other benefits from new and existing technology; and benefits from cost-reduction initiatives, plans and objectives. Actual results could differ materially from the views expressed. Factors that could cause actual results to materially differ from those contained in the forward-looking statements, or that could cause other forward-looking statements to prove incorrect, include, without limitation, adverse effects from the COVID-19 pandemic; adverse effects from general global economic, geopolitical and financial conditions beyond our control, including inflation and war in Ukraine; risks related to our international sales and operations; adverse conditions in the automotive market; competition from substitute products, new technologies and new or emerging competitors; worldwide air quality standards; a decrease in government infrastructure spending; adverse conditions in cyclical end markets; the limited supply of or lack of access to sufficient crude tall oil and other raw materials; the provision of services by third parties at several facilities; supply chain disruptions; natural disasters and extreme weather events; or other unanticipated problems such as labor difficulties (including work stoppages), equipment failure or unscheduled maintenance and repair; attracting and retaining key personnel; dependence on certain large customers; legal actions associated with our intellectual property rights; protection of our intellectual property and other proprietary information; information technology security breaches and other disruptions; complications with designing or implementing our new enterprise resource planning system; government policies and regulations, including, but not limited to, those affecting the environment, climate change, tax policies, tariffs and the chemicals industry; and losses due to lawsuits arising out of environmental damage or personal injuries associated with chemical or other manufacturing processes, and the other factors detailed from time to time in the reports we file with the SEC, including those described in Part I, Item 1A. Risk Factors in our 2021 Annual Report on Form 10-K as well as in our other filings with the SEC. These forward-looking statements speak only to management’s beliefs as of the date of this press release. Ingevity assumes no obligation to provide any revisions to, or update, any projections and forward-looking statements contained in this press release.
Caroline Monahan
843-740-2068
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
John Nypaver
843-740-2002
This email address is being protected from spambots. You need JavaScript enabled to view it.
DALLAS--(BUSINESS WIRE)--Grey Rock Investment Partners ("Grey Rock"), through its affiliated investment vehicles, today announced an agreement to make an investment in Rebellion Energy Solutions ("Rebellion") and fund additional growth of the company. Rebellion intends to use the committed capital to execute on its strategy of reducing methane emissions and mitigating environment impacts from legacy oil and gas wells. Rebellion is well positioned to address the ongoing strain of asset retirement services on the industry, while meeting increasing demand for reduction of methane emissions from which carbon offset credits can be generated and registered.
Led by Chief Executive Officer Staci Taruscio, who has nearly 20 years of energy industry experience, Rebellion operates with a strategic approach to quantifying and diminishing the negative environmental impact of non-producing oil and gas wells by properly and efficiently decommissioning them and restoring impacted lands.
“We are excited to partner with the team at Rebellion who has unique expertise in petroleum engineering, field operations, impact measurement, and land restoration to offer solutions that help reduce carbon emissions,” said Matt Miller, Grey Rock Co-Founder and Managing Director. “Grey Rock believes there is an underserved market of opportunities in the oil and gas well remediation space to offer near term solutions for positive environmental impacts.”
“Grey Rock’s technical capabilities, deep energy industry connections, and commitment to making a positive impact on reducing carbon emissions make them an ideal partner to Rebellion moving forward,” said Taruscio. “The partnership with Grey Rock allows Rebellion to offer a full suite of services to work on behalf of landowners, communities, and the larger public to transform liabilities of the past into opportunities for our future.”
About Grey Rock Investment Partners
Grey Rock Investment Partners is a private equity firm with more than $1.3 billion in asset value across its private equity fund platform. The firm invests across the energy value chain with private equity funds focusing on investments in natural resources, carbon capture, industrial electrification, and reduction of methane emissions. For more information, visit www.grey-rock.com.
About Rebellion Energy Solutions
Rebellion Energy Solutions is focused on utilizing oil and gas expertise to quantify reduction of methane emissions from legacy oil and gas wells and to restore land from such wells to the highest standard, while generating high quality carbon credits that solve real world dilemmas. For more information, visit https://www.rebellionenergysolutions.com.
Grey Rock
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rebellion
Brooke Swain
This email address is being protected from spambots. You need JavaScript enabled to view it.
GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, today announced it will report its third quarter 2022 results pre-market on Thursday, October 27, 2022. The Company will also hold a conference call to discuss results at 10:30 a.m. (Eastern Time) that day.
The conference call can be accessed by dialing 877-451-6152 (U.S.) or 201-389-0879 (international). A replay will be available approximately three hours after the call through November 3rd, by dialing 844-512-2921 (U.S.) or 412-317-6671 (international). The passcode for the replay is 13732746.
The Company will also host a live webcast of its conference call which may be accessed on the Investor Relations section of the Company's website, schneider.com.
About Schneider
Schneider is a premier multimodal provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.
With $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.
For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.
Media Relations Contact
Kara Leiterman, Schneider
M 920-370-7188
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Contact
Steve Bindas, Schneider
920-357-SNDR (7637)
This email address is being protected from spambots. You need JavaScript enabled to view it.
schneider.com/news
As SPAN's first Master Dealer, Suntuity will offer SPAN smart electrical panels to tens of thousands of solar customers across America.
SAN FRANCISCO & HOLMDEL, N.J.--(BUSINESS WIRE)--SPAN, the leading innovator in smart home electrical panels, and Suntuity Renewables, a national residential solar, storage, electrification and renewable energy integrator, today announced a new partnership to include SPAN Panels with Suntuity solar panel systems to residential customers, through Suntuity’s national Dealer Network.
As SPAN’s first Master Dealer, Suntuity's dealers and affiliates will immediately include SPAN Panel and SPAN Drive electric vehicle chargers with solar and solar plus battery systems offered to Suntuity’s customers. Adding a SPAN Smart Panel to a home solar system provides an unprecedented level of visibility and control over the home’s energy system. SPAN Panel provides homeowners with insights into their solar production in real-time, customizable circuit-level control and monitoring of every circuit in their home, and 40 percent longer battery backup power during an outage, on average. With the newly signed Inflation Reduction Act, rebates and incentives are available to lower the total cost of SPAN solutions for homeowners looking to electrify.
Additionally, SPAN and Suntuity will expand Suntuity University to train and upskill electricians to install SPAN solutions and the latest solar and renewable technologies. Funds provided by the HOPE for HOMES provision within the Inflation Reduction Act funding will support Suntuity University’s aim to address a core impediment to electrification and close the gap in the availability of green economy workers.
“As SPAN ramps up production of SPAN Panels and adds new features and functionality, we are excited to partner with Suntuity, a SPAN Master Dealer, to make SPAN Panels available to more homeowners who want to generate their own clean energy, electrify their homes, or simply improve their quality of life,” said SPAN CEO Arch Rao. “We applaud Dan and the Suntuity team for their dedication to upskill technicians in our industry. As more customers transition to renewable energy systems and electrify their homes with more efficient electric appliances, the growth in available technician talent will be critical to our collective success towards a cleaner future.”
“As a growing global solar and renewable energy developer, financier, engineering, procurement and construction provider, Suntuity is excited to partner with SPAN to ensure we're offering our solar customers and dealer partners the best products on the market by including SPAN’s groundbreaking home electrification technology with our own high-quality solar and battery systems. We expect the U.S. residential solar market to accelerate, thanks to new consumer incentives provided by the Inflation Reduction Act that reduce the cost of going solar, and we aim to provide best-in-class home electrification products and services to millions of American homeowners,” said Suntuity Group President and CEO Dan Javan.
About SPAN
SPAN reinvented the 100-year-old electrical panel and is developing products that enable electrification and simplify the adoption of clean energy including solar, batteries, and electric vehicles. SPAN Panel gives customers circuit-level management, real-time monitoring, and actionable energy insights through the SPAN Home app’s intuitive interface. Designed with hardware innovation and purpose-built with intelligent software, SPAN Panel and SPAN Drive electric vehicle charger are an efficient and integrated solution for any home. Backed by leading investors in the clean energy space, SPAN aims to decarbonize by building products that remove barriers to electrification while providing a holistic approach to managing increasing demands on household energy. To learn more, visit www.span.io.
About Suntuity Group
The Suntuity Group is an American multinational company that consists of several national brands that encompass renewable energy, finance, water filtration and home services. Founded in 2008, the company has operations in several US states and countries and services thousands of customers across its service footprint. Discover how to become a channel partner with Suntuity Renewables and join forces with one of the fastest growing renewable energy leaders in the nation. For further information, please visit www.suntuitygroup.com
About Suntuity Solar
Suntuity Solar is a top solar and storage provider in the U.S. With thousands of customers and hundreds of dealers, the company delivers best in class solar PV and storage solutions in a fully financed package. For more information, please visit www.suntuityrenewables.com
About Suntuity Electric
Suntuity Electric is a licensed electrical contractor across several U.S. states and provides electrical installation and home electrification services to an ever-expanding residential and commercial customer base. For more information, please visit www.suntuityrenewables.com
About Suntuity Home
Suntuity Home is a licensed home builder and delivers state of the art home electrification and consumer technologies in several U.S. states. Its product offerings include home automation, roofing, water filtration and award-winning Net Zero home construction. For more information, please visit www.suntuityhome.com
For more information about the SPAN smart home electrical panel, please contact This email address is being protected from spambots. You need JavaScript enabled to view it.
For more information about Suntuity Solar products and services, contact This email address is being protected from spambots. You need JavaScript enabled to view it.
Media
Cassandra Sweet
Antenna for SPAN
This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.
John Czelusniak
Suntuity Group
This email address is being protected from spambots. You need JavaScript enabled to view it.
WAUKESHA, Wisc.--(BUSINESS WIRE)--INNIO’s Waukesha Gas Engines Inc. today announced that it has been accepted as a member of the U.S. Environmental Protection Agency’s (EPA) Natural Gas STAR Program. In joining the program as an Equipment and Service Provider, INNIO becomes part of a distinguished group of businesses that facilitates methane emission reduction technologies and activities while communicating successes and lessons learned to employees and other members.
EPA’s Natural Gas STAR Program offers a platform for equipment and service providers to form cross-functional teams with other member companies to implement and voluntarily document methane reduction activities, creating a permanent record of accomplishments in reducing methane emissions.
“By joining the Natural Gas STAR Program, INNIO is underlining our commitment to implement methane-reducing technologies and practices that support carbon reduction,” said Bud Hittie, President & CEO of Waukesha Gas Engines Inc. and leading the Waukesha product brand. “Today, our rich-burn Waukesha technology enables a more than 90% methane emission reduction compared to other technologies. As the only natural gas engine manufacturer in the Natural Gas STAR Program, we look forward to sharing our current and future initiatives to reduce methane emissions.”
By joining the program, INNIO will have the opportunity to educate and collaborate with Natural Gas STAR Partners on the benefits of using rich-burn engine technology to reduce methane emissions in their day-to-day gas compression operations. The program highlights product and technology achievements in articles, industry journals, technical studies and fact sheets engaging representation from management, EH&S, engineering, supply chain, project planning and Natural Gas STAR principles to reach wider audiences. The program also helps members communicate achievements to shareholders, customers and the public. The program also facilitates information and technology sharing through workshops and other web-based communications to build a strong network with industry peers to stay current on industry trends, initiatives and the latest technologies.
INNIO is relentlessly committed to operating sustainably as demonstrated by INNIO’s Waukesha being accepted in the Natural Gas Star Program, and the INNIO Group – including its Waukesha product line – being awarded a platinum medal by EcoVadis as part of its sustainability performance rating. The platinum medal places INNIO in the top one percent of all businesses evaluated by EcoVadis.
About INNIO
INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.
INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 3,500 experts provides life-cycle support to the more than 54,000 delivered engines globally through a service network in more than 80 countries.
INNIO’s ESG rating places it number one of more than 500 worldwide companies in the machinery industry assessed by Sustainalytics.
For more information, visit INNIO's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
About Waukesha – an INNIO brand
INNIO's Waukesha engines set an industry standard for low emissions, fuel flexibility, and high reliability. Ranging from 335 hp to 5,000 hp, our rich- and lean-burn engines provide distributed gas compression and power generation solutions. The latest Waukesha engine models and upgrades help operators stay emissions-compliant without sacrificing operational excellence such as extended service intervals, fuel flexibility, and increased power. Whether installing power at a site or retrofitting the existing fleet, Waukesha have new and reUp remanufactured engines and parts as well as upgrading kits for conversions and modifications—all backed by OEM warranty and empowered by 115 years of engine expertise.
Waukesha connects with our customers locally for rapid response to their service needs, providing enhanced support through our broad network of distributors and solution providers with parts, services, and digital offerings. INNIO's Waukesha engines are engineered in Waukesha (Wisconsin, U.S.) and manufactured in Welland (Ontario, Canada).
For more information, visit INNIO’s website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
For further information please contact:
Sheila Meehan
INNIO Waukesha Gas Engines Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 262 422 7313
NEW YORK & AUSTIN, Texas--(BUSINESS WIRE)--#coalgasification--Ridgewood, NJ based Dastur International, Inc., along with affiliate company Dastur Energy Inc., and Air Liquide have been awarded an important US Department of Energy (US DOE) funded FEED study for the design and engineering of an industrial scale carbon capture plant at Air Liquide’s Steam Methane Reformer (SMR) on the US Gulf Coast. The project aims to capture 0.9 mtpa of CO2 with a net carbon capture efficiency of at least 95%, enabling the production of clean or blue hydrogen. The Funding Opportunity is entitled “fossil energy based production, storage, transport and utilization of hydrogen approaching net zero”. The FEED will be completed over a period of 18 months and the value of the award is approximately USD $7.5 million.
As the Prime Recipient of the award, Dastur will partner with subrecipients, technology provider Air Liquide E&C Solutions USA and host site Air Liquide Large Industries, to provide a techno-economically efficient and cost-effective solution for the industrial scale decarbonization of hydrogen production. The project will aim to exploit the natural advantages of the US Gulf Coast in terms of availability of natural gas, geological formations for the permanent storage of CO2, availability of CO2 transportation infrastructure, and CO2 demand from downstream customers. The project can be a stepping stone for the US DoE’s 1-1-1 Hydrogen Energy Earthshot program, which seeks to reduce the cost of clean hydrogen by 80% to $1 per 1 Kilogram in 1 decade.
The project intends to use Air Liquide’s state-of-the-art cryogenic technology, which runs on grid electricity, and will have lower secondary emissions compared to conventional amine-based carbon capture technology. With the increasing penetration of renewables in the grid, and decreasing grid emission intensity, the project will progressively reduce lifecycle CO2 emissions over time.
Atanu Mukherjee, President and Chief Executive Officer of Dastur, said, “We are happy to receive this award from the US Department of Energy and believe that this project will be important for demonstrating clean hydrogen production from fossil fuels at an industrial scale with superior economics. Decarbonization of the hard-to-abate industrial world and generation of clean energy carriers like hydrogen is key to a net-zero future, and this project will be an important landmark in establishing the US’s leadership in this area.”
Along with its partners, Dastur will draw upon its own intellectual property & know-how in gas conditioning, system design & engineering, carbon capture technology & storage and sequestration expertise to engineer a flexible, scalable and cost-effective industrial-scale carbon capture & management solution. A successful & cost-effective industrial-scale solution could serve as a reference for production of blue hydrogen in the US, as well as in other geographies.
USA: Abhijit Sarkar (M: +1 201 261 2300 | E: This email address is being protected from spambots. You need JavaScript enabled to view it.)
India: Saurav Chatterjee (M: +91 98313 04985 | E: This email address is being protected from spambots. You need JavaScript enabled to view it.)
Cloud connectivity and 24/7 live monitoring key factors in new five-year engagement
CALGARY, Canada--(BUSINESS WIRE)--$BLN #TSX--Blackline Safety Corp. (TSX: BLN), a global leader in connected safety technology, today announced that a leading western Canada-based energy, utility and transportation company has renewed and expanded its contract with Blackline Safety. The organization, a customer since 2016, has agreed to a new five-year product and service engagement with a lifetime value of close to $3.3 million to protect their workers.
The 860 G7 devices purchased will be deployed across the customer’s business units and will be monitored by Blackline Safety’s 24/7 in-house Safety Operations Centre. They’ll be used for both gas detection and lone worker monitoring.
“This renewal and expansion of our now 10-year customer relationship is continued proof of the value of our hardware-enabled software-as-a-service model. Not only do customers renew their investments with Blackline, but they expand them to bolster their safety programs with the latest technology,” said Sean Stinson, Chief Growth Officer, Blackline Safety.
This engagement, in a key growth market for Blackline Safety, builds on the company’s previously announced record-breaking deal with a US-based natural gas and electric utility company. It further demonstrates the applicability of Blackline Safety’s all-in-one connected solution for lone workers, gas detection and compliance management to better protect frontline workers.
“Scalable technology that adapts to changing work environments paired with real-time cloud-connected data and round-the-clock monitoring allows Blackline Safety to continue realizing adoption of our connected safety solutions across industries, including natural gas, utilities and renewables,” added Stinson.
Blackline Safety’s G7 lone worker and personal gas detection devices are robust and intelligent connected wearables that accurately detect gas hazards, instantly notifying both workers and managers in real time, enabling contact tracing as well as corrective action to be taken to mitigate future incidents. Supported by Blackline Safety’s professional 24/7 live monitoring service, they ensure maximum worker protection with automated safety incident and health event monitoring, including features such as no-motion and fall detection, and missed check-ins.
About Blackline Safety
Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT (Internet of Things). With connected safety devices and predictive analytics, Blackline enables companies to drive towards zero safety incidents and improved operational performance. Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries. Armed with cellular and satellite connectivity, Blackline provide a lifeline to tens of thousands of people, having reported over 185 billion data-points and initiated over five million emergency alerts. For more information, visit BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
INVESTOR/ANALYST
Matt Glover or Jeff Grampp, CFA
Gateway Group, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 949 574 3860
MEDIA
Blackline Safety
Christine Gillies, CMO
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 403-629-9434
NEW YORK--(BUSINESS WIRE)--Quinbrook Infrastructure Partners (“Quinbrook”), a specialist investment manager focused exclusively on new infrastructure needed for the energy transition, announced today the execution of binding contracts for the sale of its portfolio company, Scout Clean Energy (“Scout”), to Brookfield Renewable for c. US$1 billion in cash on completion.
Quinbrook acquired Scout as a start-up in 2017 for an initial investment of just US$6 million. A partnership was established with Scout’s founder and CEO Michael Rucker to create a large-scale, vertically integrated wind power producer focused on the development, construction, ownership and operational management of large-scale wind power assets diversified across multiple US states and power markets.
Over that period, Quinbrook deployed a further US$470 million of equity capital from its managed funds and spearheaded the rapid growth of Scout into a fully integrated developer, owner and operator of a diverse and multi-technology asset portfolio spanning 1,200 MW of operational wind projects in four states, including 400 MW managed on behalf of third parties, and plans to deliver over 22 GW of wind, solar and storage projects across 24 states by the end of this decade. Of these projects, 8.6 GW have interconnection queue positions and 2,500 MW are in late-stage development with pending construction starts.
David Scaysbrook, co-founder and Managing Partner of Quinbrook commented, “Building Scout from a start-up into the significant and successful business it is today has been a five-year long commitment by the Quinbrook team working in a close partnership with Michael and Scout management. We have endured and overcome many challenges together, which marks this venture a resounding success on many levels. Scout hosts a remarkable collective of professionals, and we are proud of all that we have accomplished together. We have exceeded our plans for investor value creation by sponsoring Scout from its infancy, and now is the right time for us to hand the business on for its next growth chapter. We fully expect Scout to feature prominently in the US renewables landscape in the coming years.”
Scout’s pipeline has grown rapidly since 2019, in particular, and has achieved 65 percent year-on-year growth in scale over that period. Over 130 landowners in regional areas have benefited from long term land lease programs, and local communities hosting Scout projects have benefited from more than 3,400 local jobs supported and over US$240 million in committed financial benefits. Scout’s operating projects have generated an estimated 8.5 TWh of carbon-free power to date, avoiding an estimated 6 million tCO2e of carbon emissions based on average grid intensities.
Headquartered in Boulder, Colorado, Scout today employs over 112 professionals across development, construction and operations and occupies a credible ranking amongst the leading independent renewables businesses in the US market.
Michael Rucker, CEO and founder of Scout commented, “When Quinbrook first decided to sponsor Scout as a portfolio company, we were a very small team with big dreams. With the leadership of David and his team, Scout has been able to rapidly expand its diverse pipeline of wind, solar and battery storage projects across the United States. The accelerated growth Scout has experienced is a direct result of Quinbrook’s support and confidence in our business model. I am forever grateful that David and his specialist investment team at Quinbrook had the confidence to invest and execute on our plan to become a major vertically-integrated developer, owner and operator in US renewables.”
BofA Securities, Inc. served as lead financial advisor and KeyBanc Capital Markets Inc. served as financial advisor to Quinbrook on the sale of Scout and Skadden, Arps, Slate, Meagher & Flom LLP acted as external legal counsel to Quinbrook.
About Quinbrook
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure needed to drive the energy transition in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.US$8.2 billion equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.US$28.7 billion or 19.5 GW of power supply capacity. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the US, UK and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects ever undertaken in the US, UK and Australia.
About Scout
Scout Clean Energy is a renewable energy developer and owner-operator headquartered in Boulder, Colorado with over 1,200 MW of operating assets. Scout is actively developing a portfolio of over 22,000 MW of onshore wind, solar PV, and battery storage projects across 24 US states. Scout has expertise in all aspects of renewables project development, permitting, power marketing, finance, construction, 24/7 operations, and asset management. Scout is a portfolio company of Quinbrook Infrastructure Partners. For more information, please -visit www.scoutcleanenergy.com.
Quinbrook Media Contact:
Jennifer Pflieger
+1 (212) 446-1866
This email address is being protected from spambots. You need JavaScript enabled to view it.
Scout Media Contact:
Chad Thompson
+1 (901) 331-0779
This email address is being protected from spambots. You need JavaScript enabled to view it.
SOUTHFIELD, Mich.--(BUSINESS WIRE)--David L. Richter, PMP, FCMAA, FCIOB, has joined Atwell, LLC – a national consulting, engineering, and construction services firm – as Executive Vice President and Chief Growth Officer. In this newly-created role, Richter will work with Atwell’s senior management team to drive the strategic growth of the firm by leading the firm’s merger and acquisition efforts and strategic planning across all market sectors, regions, and offices.
Prior to joining Atwell, Richter worked for more than 22 years at global construction management firm Hill International, Inc., rising from General Counsel to Group President to Chief Operating Officer and eventually to Chief Executive Officer. During that time, Hill grew from a small private firm with less than $20 million in annual revenue into a New York Stock Exchange-listed global leader in project management and construction consulting with annual revenue of more than $600 million.
“We’re focused on growth that best supports our clients’ goals,” said Brian Wenzel, President and Chief Executive Officer of Atwell. “David is an established leader with a proven track record in driving financial performance and business evolution. We have a shared vision for the future, and we’re committed to continued investment in our national growth.”
Richter earned his B.S. in management; his B.S.E. in civil engineering and his J.D. from the University of Pennsylvania; his M.Sc. in major program management from the University of Oxford; and his M.P.A. from Harvard University. In addition, he is currently pursuing his doctorate in civil engineering at Columbia University. Richter is a certified Project Management Professional and a Fellow of both the Construction Management Association of America and the Chartered Institute of Building.
“I am excited to be joining the leadership team at Atwell. The company is an outstanding provider of technical services to the national construction industry, and I am looking forward to helping accelerate their already impressive growth,” said Richter.
Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
Timothy Augustine, Vice President & Partner
ATWELL, LLC
248.447.2005
This email address is being protected from spambots. You need JavaScript enabled to view it.
Ultra-Low Emissions and Low Maintenance Were Key Factors in Microturbine Selection
LOS ANGELES--(BUSINESS WIRE)--$CGRN #Biogas--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that Ractive Engineering, Capstone's distributor in Trinidad and Tobago, secured an order for two C65 ATEX-certified microturbine systems. The microturbines will be fueled by the available on-site unprocessed wellhead gas and provide a reliable power source for the unmanned gas platform located on the eastern coast of Trinidad. The systems will replace obsolete microturbines currently on the platform. The new microturbines are expected to be commissioned in the summer of 2023.
"The project demonstrates the customer's confidence in our products' reliability and high availability," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "Capstone Green Energy microturbine systems align with the needs of oil and gas producers since they can be used in all phases of production operations, including upstream, midstream, and downstream, in both onshore and offshore applications."
Reliable platform power has always been challenging in oil and gas exploration and production. If power fails, production losses can be extremely costly. In some cases, these oil and gas sites have limited or no access to electricity and rely solely on power generated on-site. Capstone's fuel flexible microturbines are able to use unprocessed wellhead gas produced on-site as an input fuel source with minimal gas pre-treatment. Further, the added reliability and low maintenance requirements of microturbine-based systems make them ideal for remote locations, which often deal with challenging climate conditions.
The microturbine solution allows the customer to keep operational costs low by avoiding extra fuel-cleaning equipment and significantly reduces the negative impact on the local environment. In addition, the low-maintenance microturbines align with the facility's annual maintenance strategy being an unmanned installation. The benefit of no lubricants or greases significantly reduces the risks of fires in the equipment and environmental impacts from the disposal of traditional maintenance waste.
"In my opinion, there is no better option for offshore remote power than microturbines when considering the low carbon benefits and low maintenance intervals," said Krishan Gayah, President, Ractive Engineering. "Compared to traditional reciprocating engines, microturbines can significantly cut maintenance time by as much as 95% – installing Capstone microturbines is the ideal power generation solution for onshore or offshore oil and gas installation."
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's target for growth of its rental fleet and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the sufficiency of the Company's working capital to meet its rental fleet growth target; the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
This email address is being protected from spambots. You need JavaScript enabled to view it.
Resource is a one-stop-shop for navigating EV market options, available incentives, rate plans, and charging needs
CHICAGO--(BUSINESS WIRE)--Because navigating the emergent electric vehicle (EV) market can be intimidating, ComEd has created a one-stop-shop for those considering an EV purchase. The ComEd EV Toolkit provides information on savings, benefits and incentives for the purchase of EVs, along with an overview of EV brands and models, rate options, EV chargers and a public charging station locator. The EV Toolkit empowers customers by providing the latest information and resources to help those considering an EV more easily make the transition.
“As part of our commitment to creating a cleaner and brighter future for every community in northern Illinois, ComEd is working to help customers transition to clean transportation technologies that will help lower emissions and bring cleaner air into our communities,” said Melissa Washington, Chief Customer Officer at ComEd. “Whether you are considering an EV or are already an EV driver, ComEd’s EV Toolkit provides everything you need to know – from available financial incentives to personalized fuel cost savings estimates – to help determine which make and model is right for you.”
Illinois is poised to scale EV adoption considerably in the years ahead, thanks to the passage of state and federal climate action. The new Climate and Equitable Jobs Act (CEJA) law, passed last year, makes Illinois the first state in the Midwest to set a goal of achieving 100 percent clean energy by 2050. CEJA also sets a goal of adding 1 million EVs to Illinois roads by 2030.
To help customers plan as demand for EVs grows, ComEd’s EV Toolkit offers a variety of interactive features for those considering EVs as well as those who have already bought an EV. Customers can use the EV Toolkit to:
For those considering an EV, the benefits of new zero-emissions cars provide a range of consumer savings and benefits. This includes significant savings, due to the efficiency of EV engines and their 100 percent use of electricity replacing the high cost of gasoline. EVs also are known to save customers over an equivalent gasoline-powered car, with an estimated $2,281-$2,481 in savings on fuel costs per year for someone driving 15,000 miles annually over an equivalent gasoline-powered car, based on current market and fuel costs in Illinois. The savings to the customer are even higher, when considering avoided operations and maintenance costs over the lifetime of the vehicle.
“As the widespread availability of EVs grows, charging infrastructure matures and government incentives make EVs more affordable, mass consumer education is critical now more than ever before,” said Jennifer Morand, Co-President, Chicago Automobile Trade Association. “The EV customers of yesterday can’t be compared to today’s EV buyer, which is why resources like ComEd’s EV Toolkit are pivotal for this next phase of EV adoption.”
In addition to saving at the pump, customers can look forward to broad environmental improvements generated by the transition to EVs. The American Lung Association estimates that conversion to EVs in Illinois could save a cumulative $3.2 billion by 2050.
“Electric vehicles help to reduce air pollution, which improves local air quality and leads to fewer people with lung disease,” said John Walton, chair, Chicago Area Clean Cities. “With a wide range of new rebates and options on the market, the ComEd EV Toolkit is designed to meet consumers where they are and to help them make informed decisions around EV purchase, installation, and ownership that will help move us closer toward our collective goal of reducing carbon pollution across our communities.”
Electrifying transportation – including cars and public transit – can create tangible health benefits for all communities and families across northern Illinois, even those who do not choose to use electric transportation options.
In fact, EVs can reduce air pollutants in the areas that would benefit most: diverse and low-income communities. For example, the City of Chicago’s Air Quality and Health Index reports the areas with the worst air quality and health indices are also neighborhoods where people of color make up a higher share of the population, and moreover, these communities are more likely to live close to industrial facilities and busy transit routes, where air pollutant emissions are higher.
Beyond the EV Toolkit, ComEd is committed to helping customers navigate new technology options, and to promote EV adoption broadly throughout the region. Just last month, ComEd announced its Beneficial Electrification (BE) plan, which, pending approval by the Illinois Commerce Commission, would provide $300 million over the next three years to help communities promote equitable access to EVs, lower costs of EV adoption for customers and communities, and accelerate the buildout of a large network of EV charging infrastructure serving the region.
The BE plan is designed to expand adoption by providing direct support to residential, business, school district and governmental partners. While the EV Toolkit is designed for residential customers, ComEd has also recently launched programs geared toward its other customer classes. This includes the EV Readiness program, a collaboration with the Metropolitan Mayors Caucus (MMC), aimed at providing cities and towns support with creating local policy and programs to ensure a safe and efficient implementation of new EVs and related infrastructure. This program is funded by a $225,000 commitment from ComEd and is expected to launch its first cohort in the fall.
Additionally, ComEd has begun piloting fleet assessment for large customers, and currently encourages businesses who are considering large-scale EV integration to contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.
For more information on EVs and to access the toolkit, visit www.comed.com/EV
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 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
312-394-3500
SAN ANTONIO, Texas--(BUSINESS WIRE)--Motus Energy LLC (“Motus”) today announced it has materially completed the first phase of the company’s expansion project at its T1 and T2 terminals located in the Port of Brownsville, Texas. The company also executed multiple contracts with leading customers in the region, including independent and major energy corporations, in support of the expansion, which allows increased movement of commodities between the United States, Mexico and other international markets.
Phase 1 Expansion Details
Phase one of the expansion project included the construction of eight new storage tanks with a total of 370,000 barrels of capacity, increasing total storage capacity at the facility to 890,000 barrels. The project also included the expansion of unloading capacity to as many as 78 railcars per day, as well as the installation of four new automated loading racks with a high-efficiency vapor control system, increasing the daily loading rack throughput to nearly 90,000 barrels per day. Upon completion, Motus can now receive, store, blend and deliver 215,000 barrels of clean products; 95,000 barrels of lubricants; 130,000 barrel of refined paraffin waxes; and 450,000 barrels of fuel oil.
The company’s terminal facilities are also connected to the Port of Brownsville’s liquid cargo dock and are capable of handling Panamax class vessels. Motus has the only high-volume marine loading system in the Port of Brownsville, with loading rates up to 20,000 barrels per hour.
CEO Perspective
“We have further improved our ability to efficiently export high-sulfur fuel oil from Mexico to international markets for further processing and conversion to clean motor fuels,” said Michael Gruener, Chief Executive Officer of Motus Energy. “This expansion increases our capabilities and improves access to more affordable fuel sources, which drives our objective of supporting our selected United Nations Sustainable Development Goals. We look forward to furthering the diversification of our client and commodity slate, as we continue to provide market leadership in the energy transition.”
Phase II Expansion Details
The Motus team recently completed the permitting for an additional expansion project at the T1 and T2 terminals, which will add another 700,000 barrels of multipurpose storage capacity and up to 125,000 barrels of liquid petroleum gas. The construction of Phase II is expected to commence within the next 60 days, with an estimated completion date of early to mid-2023. The company also completed the front end engineering and design for a specialized liquification plant to process and store high-purity methane.
Expanded Leadership Team and New Headquarters
Motus is pleased to announce it has added several members to its team. These tenured energy executives further diversify and strengthen Motus’ capabilities and service offerings. Additions include:
Motus also recently secured office space in Promenade One at Eilan, in San Antonio, Texas, which will serve as its headquarters. The location in San Antonio, conveniently near its South Texas assets, will accommodate for significant future growth.
About Motus Energy
Headquartered in San Antonio, Texas, Motus Energy LLC is a privately held energy company focused on providing infrastructure solutions to producers, refiners, traders, and end marketers of renewable, transitional, and conventional energy products.
For more information, please visit https://motus.energy/
Meggan Morrison
Redbird Communications Group
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
The industry veteran will be focused on continued growth for the climate insurance leader.
SAN FRANCISCO--(BUSINESS WIRE)--#insuranceforourclimate--kWh Analytics, a leading provider of Climate Insurance for renewable energy assets, announced that it has named Michael Bachrodt as the company’s new Chief Operating Officer.
The news comes on the heels of kWh Analytics’ $20 million Series B funding announcement, which ushered in a new era of rapid growth for the firm. kWh Analytics has also recently been recognized on FinTech Global’s ESGFinTech100 list for their data and climate insurance innovations. “We’re entering an exciting new phase as we continue to scale and launch new products that support the energy transition,” said Jason Kaminsky, CEO of kWh Analytics. “Michael's combination of insurance and renewable energy finance expertise and considerable executive leadership experience makes him a perfect fit for kWh Analytics.”
Bachrodt has over 20 years of project finance, transaction management, and underwriting experience, most recently serving as Vice President, Structured Finance for OYO Hotels. Bachrodt’s work at OYO saw him lead global debt and growth capital initiatives. He also served as Senior Vice President for Bridge Bank, where he led the renewable energy project finance group. In prior roles, Bachrodt led project finance transactions at SunEdison and negotiated power purchase agreements at Pacific Gas & Electric Company.
“kWh Analytics has tremendous growth prospects. They are truly proving themselves as data-driven leaders in renewable energy and asset insurance,” notes Bachrodt. “I’m thrilled to join this enterprising team at such an exciting time.”
Bachrodt earned his MBA from Harvard Business School, and holds a bachelor’s degree in business administration from the University of Notre Dame.
ABOUT KWH ANALYTICS
kWh Analytics is a leading provider of Climate Insurance for renewable energy assets. Utilizing their proprietary database of over 300,000 operating renewable energy assets, kWh Analytics uses real-world project performance data and decades of expertise to accurately price and underwrite unique risk transfer products on behalf of insurance partners. The Solar Revenue Put production insurance protects against downside risk and unlocks preferred financing terms, and kWh Property Insurance offers comprehensive coverage against physical loss. These offerings, which have insured over $3 billion of assets to date, aim to further kWh Analytics’ mission to provide Insurance for our Climate. To learn more, please visit https://www.kwhanalytics.com/, connect with us on LinkedIn, and follow us on Twitter.
Nikky Venkataraman
Marketing Manager
kWh Analytics
E | This email address is being protected from spambots. You need JavaScript enabled to view it.
T | (720) 588-9361
RESTON, Va.--(BUSINESS WIRE)--CACI International Inc (NYSE: CACI) announced today it has been awarded a $174 million contract to provide the U.S. Navy Military Sealift Command (MSC) with mission expertise and innovative solutions for enhancing naval ship machinery, systems, equipment, and structural performance while reducing costs.
MSC is responsible for operating and maintaining ships for the Armed Forces and other agencies. Under this task order, CACI will conduct research, analysis, and development to optimize MSC’s machinery and structural maintenance program with the goal of reducing ownership costs and technical risks while improving fleet safety, reliability, availability, and readiness.
John Mengucci, CACI President and Chief Executive Officer, said, “Joint warfighters rely on MSC to deliver agile logistics, strategic sealift, and specialized missions anywhere in the world and at any time. CACI’s support will help ensure readiness and mission effectiveness.”
CACI was awarded this contract under the Department of Defense Information Analysis Center’s (DoD IAC) multiple-award contract (MAC) vehicle. These DoD IAC MAC task orders (TOs) are awarded by the U.S. Air Force's 774th Enterprise Sourcing Squadron to develop and create new knowledge for the enhancement of the DTIC repository and the R&D and S&T community.
CACI will provide MSC support to new Reliability, Availability, Maintainability, and Safety (RAMS), quality, and life extension engineering Research, Development, Test, and Evaluation (RDT&E); life cycle engineering RDT&E; quality assurance planning and analysis; and Condition-Based Maintenance (CBM) research and analysis.
Work will primarily be performed in the Washington, D.C., and Norfolk, Virginia areas, with worldwide deployments to shipyards during MSC ship availabilities.
ABOUT DoD IAC PROGRAM
The DoD IAC, sponsored by the Defense Technical Information Center, provides technical data management and research support for DoD and federal government users. Established in 1946, the IAC program serves the DoD science & technology (S&T) and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader S&T community.
ABOUT CACI
CACI’s approximately 22,000 talented employees are vigilant in providing the unique expertise and distinctive technology that address our customers’ greatest enterprise and mission challenges. Our culture of good character, innovation, and excellence drives our success and earns us recognition as a Fortune World's Most Admired Company. As a member of the Fortune 1000 Largest Companies, the Russell 1000 Index, and the S&P MidCap 400 Index, we consistently deliver strong shareholder value. Visit us at www.caci.com.
Disclaimer. This material is based upon work supported by the DoD Information Analysis Center Program (DoD IAC), sponsored by the Defense Technical Information Center (DTIC) under Contract No. FA807522D0054.
Approved for Public Release, Distribution Unlimited. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the DoD.
There are statements made herein which do not address historical facts, and therefore could be interpreted to be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. The factors that could cause actual results to differ materially from those anticipated include, but are not limited to, the risk factors set forth in CACI’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020, and other such filings that CACI makes with the Securities and Exchange Commission from time to time. Any forward-looking statements should not be unduly relied upon and only speak as of the date hereof.
CACI-Contract Award
Corporate Communications and Media:
Lorraine Corcoran
Executive Vice President, Corporate Communications
(703) 434-4165, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Daniel Leckburg
Senior Vice President, Investor Relations
(703) 841-7666, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Fuel Cell Powertrain Market by Component (Fuel Cell System, Drive System, Battery System, Hydrogen Storage System, and Gearbox), Vehicle Type (PC, LCV, Trucks, Buses), Power Output, Drive Type, H2 Fuel Station and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
High power demand in commercial vehicles will boost >250 kw segment
The feasibility of the >250 kW power segment is being studied by various OEMs. This fuel cell powertrain is mainly used to pilot heavy vehicles. Nikola is one of the major OEMs involved in activities related to the piloting of the >250 kW fuel cell powertrain in its Nikola One truck model. This truck is capable of producing a staggering 745 kW power output.
The second generation of the BMW fuel cell powertrain system will give an output of 275 kW, which will be piloted in the BMW i Hydrogen NEXT from 2022. Once this vehicle is rolled out, the truck market is expected to experience rapid changes as the company offers 100% zero emission, which would become the norm. More such developments are expected to drive the growth of the >250 KW segment in the fuel cell powertrain market during the forecast period.
Heavy-duty transportation such as trucking needs a high driving range, power, and efficiency. Fuel cells with an output of more than 250 kW are more suitable and sustainable for such applications as compared to battery-powered vehicles. Hence, in countries like the US and Australia, where long-haul trucking has high demand, high-powered fuel cell trucks will witness high impactful growth opportunities. The heavy-duty commercial vehicle industry will undergo a revolutionary change due to the presence of fuel cell vehicles with more than 250 kW power output in the coming decade. This will help in emission reduction, and the demand for refueling stations will be manageable at a certain distance from each other.
Government investment in research and infrastructure will drive market in Australia
Australia is estimated to be the largest in the fuel cell powertrain market and is also estimated to be the fastest growing over the forecast period. Factors such as high demand as well as government initiatives to promote the growth of FCEVs will play a critical role in driving the market. according to the report published by the Australian Renewable Energy Agency (ARENA), around 2,800 jobs and USD 1.2 billion in revenue can be generated annually by 2030 by hydrogen exports.
Japan, China, and South Korea are the potential markets for these exports. In March 2022, The government is boosting its support for uptake heavy hydrogen fuel cell vehicle by funding construction of first public new energies service station in Geelong, Victoria, through Australia Renewable Energy (ARENA) is providing USD 22.8 million to Viva Energy (Australia) for building the hydrogen cell refueling station.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Fuel Cell Powertrain Market, by Component
8 Fuel Cell Powertrain Market, by Drive Type
9 Fuel Cell Powertrain Market, by Power Output
10 Fuel Cell Powertrain Market, by Vehicle Type
11 Fuel Cell Powertrain Market, by H2 Fuel Station
12 Fuel Cell Powertrain Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/4quu4x
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today that it will participate in virtual one-on-one meetings at the Wolfe Research Utilities, Midstream & Clean Energy Conference on Friday, September 30, 2022. The latest investor deck of slides, which may be used to facilitate investor meetings, is accessible on the Enterprise website.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced that based on expected strong third-quarter performance and expectations for the fourth quarter, and despite recent market weakness, the company anticipates its full-year Adjusted EBITDA will be near the high end of its previously announced guidance range of $6.1 to $6.4 billion.
“At Williams, we continue to execute on our natural gas focused strategy, which is delivering in the current environment and will continue to deliver substantial growth for the long-term,” said Alan Armstrong, president and CEO. “We have built a business that is steady, predictable and durable through market cycles. As with prior volatile markets, Williams’ performance remains resilient and is well positioned to thrive through the current macro-economic risks including inflation, higher interest rates and a potential recession.”
On August 1, 2022, Williams raised the Adjusted EBITDA guidance for the second time since its original issuance in February 2022, driven by strong base business performance, increased volume outlook for upstream joint ventures and the benefit of higher commodity prices. Further information regarding the Adjusted EBITDA guidance range follows.
Non-GAAP Measures
This news release refers to Adjusted EBITDA, which is a non-GAAP financial measure as defined under the rules of the SEC. Our segment performance measure, modified EBITDA, is defined as net income (loss) before income (loss) from discontinued operations, income tax expense, net interest expense, equity earnings from equity-method investments, other net investing income, impairments of equity investments and goodwill, depreciation and amortization expense, and accretion expense associated with asset retirement obligations for nonregulated operations. We also add our proportional ownership share (based on ownership interest) of modified EBITDA of equity-method investments.
Adjusted EBITDA further excludes items of income or loss that we characterize as unrepresentative of our ongoing operations. Management believes this measure provides investors meaningful insight into results from ongoing operations.
Reconciliation of Net Income (Loss) to Modified EBITDA and Non-GAAP Adjusted EBITDA |
||||||||||
2022 Guidance |
||||||||||
(Dollars in millions) |
Low |
Mid |
High |
|||||||
Net income (loss) |
$ |
1,754 |
$ |
1,854 |
|
$ |
1,954 |
|||
Provision (benefit) for income taxes |
|
400 |
|
450 |
|
|
500 |
|||
Interest expense |
|
1,145 |
|
|||||||
Equity (earnings) losses |
|
(610 |
) |
|||||||
Proportional Modified EBITDA of equity-method investments |
|
960 |
|
|||||||
Depreciation and amortization expenses and accretion for asset retirement obligations associated with nonregulated operations |
|
2,075 |
|
|||||||
Other |
|
9 |
|
|||||||
Modified EBITDA |
$ |
5,733 |
$ |
5,883 |
|
$ |
6,033 |
|||
EBITDA Adjustments |
|
367 |
|
|||||||
Adjusted EBITDA |
$ |
6,100 |
$ |
6,250 |
|
$ |
6,400 |
|||
Forward-Looking Statements
The reports, filings, and other public announcements of The Williams Companies, Inc. (Williams) may contain or incorporate by reference statements that do not directly or exclusively relate to historical facts. Such statements are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (Exchange Act). These forward-looking statements relate to anticipated financial performance, management’s plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, and other matters. We make these forward-looking statements in reliance on the safe harbor protections provided under the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical facts, included in this release that address activities, events, or developments that we expect, believe, or anticipate will exist or may occur in the future, are forward-looking statements. Forward-looking statements can be identified by various forms of words such as “anticipates,” “believes,” “seeks,” “could,” “may,” “should,” “continues,” “estimates,” “expects,” “forecasts,” “intends,” “might,” “goals,” “objectives,” “targets,” “planned,” “potential,” “projects,” “scheduled,” “will,” “assumes,” “guidance,” “outlook,” “in-service date,” or other similar expressions. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management and include, among others, statements regarding our earnings guidance and expected third and fourth quarter results.
Forward-looking statements are based on numerous assumptions, uncertainties, and risks that could cause future events or results to be materially different from those stated or implied in this release. Many of the factors that will determine these results are beyond our ability to control or predict. Specific factors that could cause actual results to differ from results contemplated by the forward-looking statements include, among others, the following:
Given the uncertainties and risk factors that could cause our actual results to differ materially from those contained in any forward-looking statement, we caution investors not to unduly rely on our forward-looking statements. We disclaim any obligations to and do not intend to update the above list or announce publicly the result of any revisions to any of the forward-looking statements to reflect future events or developments.
In addition to causing our actual results to differ, the factors listed above and referred to below may cause our intentions to change from those statements of intention set forth in this release. Such changes in our intentions may also cause our results to differ. We may change our intentions, at any time and without notice, based upon changes in such factors, our assumptions, or otherwise.
Because forward-looking statements involve risks and uncertainties, we caution that there are important factors, in addition to those listed above, that may cause actual results to differ materially from those contained in the forward-looking statements. For a detailed discussion of those factors, see (a) Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the SEC on February 28, 2022, and (b) Part II, Item 1A. Risk Factors in our Quarterly Report on Form 10-Q for the period ended March 31, 2022 and subsequent Quarterly Reports on Form 10-Q.
About Williams
As the world demands reliable, low-cost, low-carbon energy, Williams (NYSE: WMB) will be there with the best transport, storage and delivery solutions to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation, storage, wholesale marketing and trading of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. Learn how the company is leveraging its nationwide footprint to incorporate clean hydrogen, next generation gas and other innovations at www.williams.com.
MEDIA:
This email address is being protected from spambots. You need JavaScript enabled to view it.
(800) 945-8723
INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
Grace Scott
(918) 573-1092
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.