ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ALS.TO #courtdecision--Altius Minerals Corporation (ALS: TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) reports on a decision issued by the Supreme Court of Canada on Friday October 21, in an unrelated constructive taking or de facto expropriation case, that it believes holds materially relevant and positive implications for Altius’ ongoing lawsuit against the governments of Alberta and Canada.
By way of background, on 19 December 2018 Altius (through certain subsidiaries) filed a Statement of Claim in the Court of King’s Bench of Alberta seeking $190 million in compensation for the constructive taking or de facto expropriation by regulation of its Genesee mine “interest in land” royalty asset. This was as a result of the governments’ regulatory actions to phase out coal-fired power generation by 2030 and, in the case of Alberta, its agreement to make compensatory payments to the operator of the Genesee power generating plant that are expected to total more than $700 million.
The Genesee mine and power generating plant were developed and have been run as an integrated operation through formal mine supply dedication and royalty agreements since inception in 1988 as Edmonton Power, and remain responsible for a large portion of Alberta’s generation. In keeping with the regulatory changes and its compensatory agreement, the plant operator is currently converting the generating units to natural gas fueling and once this is completed and coal mining ended, royalty payments to Altius will cease. Prior to the government actions the Genesee mine and power plant were planned to continue operating together as an integrated operation until 2055.
Altius’ claim was dismissed in Alberta on the stated basis that the legal test for constructive taking or de facto expropriation could not be made out, the court finding that even if the royalty property interest was sterilized of value, no compensation was payable as the governments had not acquired a beneficial property interest in same.1
Altius subsequently appealed dismissal of its suit to the Alberta Court of Appeal, where proceedings were recently temporarily stayed pending issuance of the Supreme Court of Canada’s decision in another de facto expropriation case called Annapolis Group Inc v Halifax Regional Municipality.
The Supreme Court of Canada rendered its decision in Annapolis on 21 October 2022, where the Majority clarified that the legal test for a constructive taking or de facto expropriation does not require that the government acquire an interest in the property at issue, and that it is sufficient if a beneficial interest in the form of an “advantage” flows to the state.2
Within its ruling it stated that “A “beneficial interest” is to be broadly understood as an “advantage”; as such, the interest acquired by the state can fall short of an actual acquisition by the state.” It further stated “that “beneficial interest” refers not to actual acquisition of the equity that rests with the beneficial owner of property, connoting rights of use and enjoyment, but to an advantage flowing to the state.”
The Alberta and Canadian governments phased out coal-fired emissions to obtain publicly stated advantages (valued at $4.7 billion by the federal government3) relating to avoided health care and climate change linked costs.
Altius will immediately continue its appeal of the dismissal, if Alberta and Canada do not agree to vacate it, on the basis that the Supreme Court has now clarified the test used to determine whether a constructive taking has occurred.
Brian Dalton, CEO of Altius, commented, “Altius wishes to make clear that it does not take issue with the intended phase out of coal fired power generation in Canada. Indeed, we are actively backing the development of many new renewable energy projects with royalty-based funding and in so doing are directly enabling advancement of the global energy transition imperative. Our ongoing lawsuit in no way challenges the right of governments to change regulations to address the evolution of the societal level mandates they are democratically granted.” He then added, “With that said, as a Canadian public company we believe that defending our private land and royalty interests sits within the core of our fiduciary mandate. We simply contend that a fundamental tenet of Canada’s rule of law principles upholds that, when such government actions have the tantamount effect of taking or expropriating established private property interests, offsetting compensation is required – a contention that we believe has now been clearly confirmed by the Supreme Court of Canada.”
Forward-Looking Information
This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Altius provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Altius believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. Altius does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 47,616,297 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is included in each of the S&P/TSX Small Cap, the S&P/TSX Global Mining, and the S&P/TSX Canadian Dividend Aristocrats indices.
_________________________________
1 Altius Royalty Corporation v Her Majesty the Queen in Right of Alberta, 2022 ABQB 255 at paras 77-79 |
2 Annapolis Group Inc v Halifax Regional Municipality, 2022 SCC 36 at para 38 |
3 See Regulatory Impact Analysis Statement for SOR/2018-263 (https://gazette.gc.ca/rp-pr/p2/2018/2018-12-12/html/sor-dors263-eng.html) |
Flora Wood
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 1.877.576.2209
Direct: +1(416)346.9020
Ben Lewis
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 1.877.576.2209
LEMONT, Ill.--(BUSINESS WIRE)--Chain Reaction Innovations (CRI), the entrepreneurship program at the U.S. Department of Energy’s (DOE) Argonne National Laboratory, is now accepting applications for its Cohort 7. Entrepreneurs with clean energy and climate technology innovations who can leverage Argonne’s resources are encouraged to apply.
CRI propels the next generation of energy entrepreneurs by helping them move their innovations to market. A new cohort is selected each year through an annual call for applications. This year, the application period is open through 5 p.m. Central on November 30, 2022. Those chosen for Cohort 7 will begin work in summer 2023. Any individual interested in developing a startup technology aligned with an Argonne research area is encouraged to apply.
“CRI is dedicated to inclusive innovation. We’re proud to have a diverse set of innovators who share their unique perspectives, bring new ideas, and provide valuable insights to all who participate,” said Deena Wright, CRI’s senior program specialist who works with the cohorts. “Our goal is to make sure the startups in our program graduate with a strong foundation of business knowledge, while also developing their technologies.”
To apply or learn more, visit CRI’s website.
Cohort 7 Fellowships
“CRI helps startups bridge the gap between an early-stage technology and a viable business,” says Dick Co, CRI’s director. “This year, especially, we invite potential innovators who have climatech solutions in both decarbonization and adaptation like water tech to apply to the program. Working together, we can address the near- and long-term effects of climate change, while supporting innovation and job creation today.” Since its inaugural cohort graduated in 2019, CRI startups have created 585 jobs while raising over $371 million in funding.
Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
This email address is being protected from spambots. You need JavaScript enabled to view it.
Office: 630.252.5580
Norton’s November 1, 2022 keynote will highlight the role of solar in creating resiliency and social equality; will touch upon the importance of distributed energy through his conservation work in Kenya.
Free, virtual event on November 1-2, 2022 will feature sessions discussing innovations, ideas, and technologies influencing the digital future of the solar industry.
SAN FRANCISCO--(BUSINESS WIRE)--#SaaS--Aurora Solar, a cloud-based platform creating a future of solar for all by powering industry professionals to make solar simple and predictable, today announced Edward Norton as a keynote speaker at its third annual Empower event. In addition to being a Golden Globe winner and Academy Award nominee, Norton has participated in numerous solar advocacy efforts over the past 25+ years and serves as US Board President of the Maasai Wilderness Conservation Trust (MWCT), which operates a range of programs where solar plays an important role in helping protect the ecosystems and biodiversity of East Africa.
“Edward has a long history with the solar industry and as a conservationist,” said Chris Hopper, co-founder and CEO, Aurora Solar. “His passion for and views on solar closely align with our mission to create a future of solar for all. We’re thrilled to add Edward to Empower’s roster of world-class speakers who are collectively advancing the solar industry and creating a more sustainable, resilient future.”
During his keynote titled “The Importance of Solar for All,” Norton will share his views on the role of solar in creating resiliency and social equality. He will also discuss the importance of distributed energy and how it has come to life through the MWCT’s Chyulu Carbon Project, which he has been supporting for the past 20+ years. One of the organization's newest projects focuses on building energy storage and solar infrastructure to power electric vehicles in remote parts of Kenya to help protect wildlife. In support of this cause, Aurora Solar will donate five dollars to this initiative for every person who registers for Empower 2022, up to $25,000, and will match donations, up to an additional $25,000, made to this cause through the Aurora/MWCT GoFundMe page; donate here.
Empower is open for anyone to attend and features 35+ solar experts as part of its speaker lineup. From solar professionals seeking to earn NABCEP CEUs to industry advocates who are passionate about accelerating the clean energy future, Empower offers something for everyone.
To learn more about Empower 2022, view the full agenda, and register for the event, visit https://aurorasolar.com/empower-2022-agenda/.
About Aurora Solar
Aurora is creating a future of solar for all. The company is putting the power of data and technology into the hands of every solar professional to make solar adoption simple and predictable. The cloud-based platform uses data, automation, and AI to streamline workflows and grow solar businesses faster. More than 7,000 of the industry's top organizations rely on Aurora and over 10 million solar projects have been designed with the platform globally. The San Francisco-based company was the only climate tech business named to the 2022 Forbes AI 50 and was voted the best solar software by Solar Power World in 2021. For more information, visit www.aurorasolar.com and follow on Twitter @AuroraSolarInc.
Karen DeVincent-Reinbold
PR & communications director
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Vietnam Industrial Gases Market, By Product, By Mode of Distribution, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Vietnam industrial gases market was valued at USD385 million in 2021 and is anticipated to further grow with a CAGR of 7.5% during the forecast year, 2023-2027. The market growth can be attributed to the rising demand for industrial gases across various end use industries.
Besides, the increasing demand for oxygen and helium in the healthcare sector for supplying them to artificially ventilated patients and expanding end use industries like metallurgy, chemical, pharmaceutical, etc., are anticipated to support the growth of the Vietnam industrial gases market in the next five years. Moreover, increasing investments by market players for innovation and new product designing in the electronics industry is propelling the growth of the Vietnam industrial gases market.
Industrial gases are typically created or produced in companies through various chemical processes. Many industries employ industrial gases, including the oil and gas sector, petrochemicals, healthcare, pharmaceuticals, power generation, mining, metallurgy, fuel, food and beverage, biotechnology, agriculture, etc. Industrial gases are highly concentrated and pure volatile chemicals. The storage, delivery, and usability of industrial gases are managed with specific considerations and standards.
The numerous end use sectors like healthcare, metallurgy, petrochemical, etc., are driving the demand for industrial gases during the next five years. Additionally, the nation is home to an expanding number of manufacturing facilities and companies that produce industrial gases. Manufacturers based in countries like Japan, South Korea, China, Taiwan, Malaysia, and Singapore are entering the Vietnamese market to establish local manufacturing facilities. Rising sales are assisting the production of these products, which is aiding the market growth.
The Vietnam industrial gases market is segmented on the basis of product, mode of distribution, competitional landscape, and regional distribution. Based on the product, the market is divided into oxygen, nitrogen, hydrogen, carbon dioxide, argon, and helium. The oxygen segment is anticipated to register the highest growth in the coming years, owing to its rising application in metallurgy, light engineering industry, medical, and others.
Key players operating in the Vietnam industrial gas market are Messer Vietnam Industrial Gases Co. Ltd., Air Liquide, Linde Vietnam, Taiyo Nippon Sanso Vietnam, Iwatani Corporation, SIG Vietnam, Osaka Gas, North Vietnam Industrial Gases Ltd., among others.
Years considered for this report:
Objective of the Study:
Report Scope:
In this report, Vietnam industrial gases market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Vietnam Industrial Gases Market, By Product & Applications:
Vietnam Industrial Gases Market, By Mode of Distribution:
Vietnam Industrial Gases Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/wsa39k
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
GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, announced today that on October 20, 2022, its Board of Directors declared a quarterly cash dividend of $0.08 per share on its Class A and Class B common stock, payable to shareholders of record as of December 9, 2022. The dividend is expected to be paid on January 10, 2023.
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.
Tigo will present the growing trend of rapid shutdown requirements worldwide at All-Energy Australia Exhibition and Conference on October 27th, 2022.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced that its rapid shutdown and monitoring technology is now in use at a mining plant in New South Wales, Australia. Smart Commercial Solar, an installation and management company based in North Sydney, New South Wales, designed and deployed the ground-mount installation. Tigo will showcase this rapid shutdown technology in a CEC Masterclass session at the upcoming All-Energy conference in Melbourne, Australia, highlighting the evolution of solar safety standards and codes as solar matures worldwide.
“With Tigo, we get rapid shutdown technology as well as plug-and-play compatibility with all the inverters we use, and that made Tigo the obvious choice for the system we deployed for our mining customer,” said Anastasi Kotoros, chief marketing officer at Smart Commercial Solar. “These installations are a win for everyone involved: the mining operation has a safe solar system they can monitor remotely, Tigo has added yet another impressive site to its portfolio, and we have great new customers to serve with ongoing maintenance and energy production insights.”
Powered by the TS4-A-S and Energy Intelligence (EI), Tigo technology reduces the electrical output of each module upon rapid shutdown initiation. With a primary focus on safety, the Tigo TS4-A-S Flex MLPE device is UL PV Rapid Shutdown System (PVRSS) certified with leading inverters to meet United States NEC 2014, 2017, and 2020 rapid shutdown requirements and provide module-level monitoring. Rapid shutdown requirements, similar to those of the US NEC, have been adopted worldwide, including in The Philippines and Thailand. The new safety requirements in force for mining operations in Australia represent yet another instance in which regulatory entities implement solar rapid shutdown requirements for the safety of first responders and anyone that needs access to the solar array.
The Smart Commercial Solar mine deployment is the first Tigo TS4-A-S site fully tested and compliant with the Electrical Safety standard under the Work Health and Safety (Mines and Petroleum Sites) Act 2013, Regulation 2022. The standard mandates that all carriers of Direct Current (DC) energy comply with certain short circuit and earth fault protection requirements. In meeting the updated safety standard, Tigo Rapid Shutdown technology is now available for customer deployment at mining operations and the growing commercial and industrial solar market in Australia.
“With the largest list of compatible inverters in the industry and a particular focus on a high-quality installed solution, we aim to provide solar solutions that give our installer partners the most choice and flexibility possible,” said James Dillon, chief marketing officer at Tigo Energy. “We help our installers succeed in various industries and environments, including compliance with local standards and requirements. We are grateful to collaborate with Smart Commercial Solar and open up this important market segment for Tigo in Australia. I look forward to discussing the importance of fire safety for solar in Australia at All-Energy this month.”
In support of solar installer partners in Australia, Mr. Dillon will lead a presentation and education session in the Solar Master Class portion of the All-Energy Australia Exhibition & Conference in Melbourne, Australia, on Thursday, October 27, from 2:30 to 3:30 PM. The presentation, entitled “The Solar Industry Matures: Rapid Shutdown Around the World,” will cover the benefits of rapid shutdown and highlight the global adoption of rapid shutdown standards and requirements. Installers who attend the presentation are eligible to earn Continuous Professional Development points.
For more information, visit the product pages for the Tigo TS4-A-S or Tigo EI Monitoring. For purchasing inquiries, please contact the Tigo sales team at https://www.tigoenergy.com/contacts.
About Tigo Energy
Tigo Energy, the worldwide leader in Flex MLPE (Module Level Power Electronics), designs innovative solar power conversion and storage products that provide customers more choice and flexibility. The Tigo TS4 platform increases solar production, decreases operating costs, and enhances safety. When combined with the Tigo Energy Intelligence (EI) platform, it delivers module, system, and fleet-level insights to maximize solar performance and minimize operating costs. The Tigo EI Residential Solar Solution, a flexible solar-plus-storage solution for home installations, rounds out the Company’s portfolio of solar energy technology. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy, and its global team supports customers whose systems reliably produce gigawatt hours of safe solar energy on seven continents. Find us online at www.tigoenergy.com.
Technica Communications
Caitlan Caviness
408-806-9626 Ext. 9949
This email address is being protected from spambots. You need JavaScript enabled to view it.
Industry-leading digital automation portfolio connects intelligent field to software-centric evolution of automation architecture
AUSTIN, Texas--(BUSINESS WIRE)--Leveraging decades of digital innovation and leadership across all automation categories, global technology and software company Emerson (NYSE: EMR) today announced the evolution of the Plantweb™ digital ecosystem to incorporate the AspenTech (NASDAQ: AZPN) portfolio of asset optimization software powered by industrial artificial intelligence, creating the most comprehensive digital transformation portfolio in the industry.
Emerson’s Plantweb digital ecosystem, optimized by AspenTech, enables industrial manufacturers across all industries to “See, Decide, Act and Optimize” their operations. Leveraging a robust suite of sensors, software and control technologies, Plantweb now enables companies to optimize the business and sustainability performance of their plants and enterprise through advanced asset and business optimization software.
“With the vast amounts of data created by manufacturing, the world’s most essential industries have increasingly demanded robust automation that transcends boundaries to help empower safe, reliable operations across a facility or enterprise,” said Mark Bulanda, executive president of Emerson’s Automation Solutions business. “Our Plantweb digital ecosystem, combined with the asset optimization leadership of AspenTech, gives organizations the ability to ‘see, decide, act and optimize’ every aspect of their operations to drive exceptional returns on automation investment in productivity, safety and sustainability.”
The new Plantweb digital ecosystem, now optimized with AspenTech industrial AI software, empowers companies with an unprecedented flexibility to generate, manage and use the rapidly growing body of data each plant operation generates. As every operator increasingly uses data and software to perform their jobs, Plantweb helps make data actionable by more personnel in the context of their role, regardless of location.
Plantweb powers world-class performance by enabling: sensing and visualization, predictive diagnostics and monitoring, precision control, modeling and AI-powered analytics. These technologies include:
The industry has increasingly realized advanced automation is the greatest strategic lever available to boost operating performance, improve safety and achieve sustainability targets through emissions reduction and greater energy efficiency.
“Plantweb has remained a platform for continuous innovation in the industry since its introduction in 1997, including the world’s first integrated digital safety loop, machinery health monitoring and the pervasive deployment of wireless technologies,” said Peter Zornio, chief technology officer for Emerson. “Now Plantweb sets the software foundation for the future of ‘boundless automation,’ where the intelligent field, edge and cloud become a seamless architecture for world-class responsiveness and performance.”
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and software company providing innovative solutions for customers in industrial, commercial and residential markets. A leader in industrial automation, Emerson helps process, hybrid and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals through its Automation Solutions and AspenTech businesses. Emerson’s Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information, visit Emerson.com.
About Aspen Technology
Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in capital-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.
For Emerson
Denise Clarke
512.587.5879
This email address is being protected from spambots. You need JavaScript enabled to view it.
MADISON, Wis.--(BUSINESS WIRE)--The board of directors of MGE Energy, Inc. (Nasdaq: MGEE), today declared the regular quarterly dividend of $0.4075 per share on the outstanding shares of the company's common stock, payable December 15, 2022, to shareholders of record at the close of business December 1, 2022.
MGE Energy has increased its dividend annually for the past 47 years and has paid cash dividends for more than 110 years.
About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 159,000 customers in Dane County, Wis., and purchases and distributes natural gas to 169,000 customers in seven south-central and western Wisconsin counties.
Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.
ALBANY, N.Y.--(BUSINESS WIRE)--Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), a developer of green data centers for cryptocurrency mining and other intensive computing, today announced the pricing of its previously announced underwritten public offering of 1,388,889 shares of its common stock, at a price to the public of $1.44 per share. The Company will also issue to Soluna SLC Fund I Projects Holdco LLC, or Spring Lane, an aggregate of 593,065 shares of common stock to Spring Lane upon conversion of the outstanding promissory note with an aggregate principal amount of $850,000 and accrued and unpaid interest thereon held by Spring Lane at the same price per share as the public offering price per share set forth above.
Univest Securities, LLC is acting as the sole book-running manager for the underwritten public offering.
In connection with the underwritten public offering, the Company has granted the underwriter a 45-day option to purchase up to an additional 208,333 shares of common stock at the public offering price of $1.44 per share, less underwriting discounts and commissions, to cover over-allotments, if any. The offering is expected to close on or about October 26, 2022, subject to satisfaction of customary closing conditions.
Soluna expects to use the net proceeds of the offering for the acquisition, development and growth of data centers, including cryptocurrency mining processors, other computer processing equipment, data storage, electrical infrastructure, software, real property, and business, including but not limited to its development site in Texas, and for general corporate purposes. General corporate purposes may include working capital and capital expenditures.
The shares of common stock to be issued in the underwritten public offering are offered and sold pursuant to a shelf registration statement on Form S-3 (File No. 333-261427), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective on December 16, 2021. The offering will be made only by means of a written prospectus. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the SEC on its website at www.sec.gov. The final prospectus supplement will be filed with the SEC and, once filed, will be available on the SEC website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying base prospectus relating to the offering, once filed, may also be obtained from Univest Securities, LLC, 75 Rockefeller Plaza, 18th Floor, New York, NY 10019, by phone (212) 343-8888 or e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Soluna Holdings, Inc (SLNH)
Soluna Holdings, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’
For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. These forward-looking statements include, among others, statements relating to the completion of the public offering and the intended use of proceeds therefrom. Actual results may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include, without limitation, risks and uncertainties related to the satisfaction of customary closing conditions related to the offering, the intended use of proceeds from the offering and the impact of general economic, industry or political conditions in the United States or internationally. You should not place undue reliance on these forward-looking statements. Additional risks and uncertainties relating to the proposed offering, Soluna and its business can be found under the caption “Risk Factors” included in Soluna’s Annual Report on Form 10-K for the year ended December 31, 2021, Soluna’s preliminary prospectus supplement filed with the SEC on October 21, 2022 and the final prospectus supplement to be filed with the SEC, and other filings that Soluna may make with the SEC in the future. Any forward-looking statements contained in this press release speak only as of the date hereof, and Soluna expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Philip F. Patman, Jr.
Chief Financial Officer
Soluna Holdings, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
713 906 5705
Univest Securities, LLC
Bradley Richmond
This email address is being protected from spambots. You need JavaScript enabled to view it.
914 714 8614
MZ Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
This email address is being protected from spambots. You need JavaScript enabled to view it.
561 489 5315
PITTSBURGH--(BUSINESS WIRE)--Wabtec Corporation (NYSE: WAB) announced today that its Board of Directors declared a regular quarterly common dividend of 15 cents per share, payable on November 28, 2022 to holders of record on November 14, 2022.
About Wabtec Corporation
Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide. Visit Wabtec’s website at: www.WabtecCorp.com.
Wabtec Investor Contact
Kristine Kubacki, CFA / This email address is being protected from spambots. You need JavaScript enabled to view it. / 412-450-2033
Wabtec Media Contact
Tim Bader / This email address is being protected from spambots. You need JavaScript enabled to view it. / 682-319-7925
The company’s supply chain saw ripple effects around the world, with 360,000 direct suppliers supporting 16.5 million jobs
MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) today released the findings from its 2022 report that analyzed the company’s impact on the global economy with key regional and market-specific analyses from around the world at the conclusion of its 2022 fiscal year (FY 2022). The report, produced in consultation with Dun & Bradstreet (NYSE: DNB), a leading global provider of business decisioning data and analytics, for the first time analyzed the impact FedEx has on economies around the world. Over the past 49 years, FedEx has expanded its services to more than 220 countries and territories and invested in a global network enabling businesses of all sizes to access and grow the global economy.
The report found that FedEx played an integral role in helping businesses recover from the pandemic while overcoming strained supply chains and economic challenges. With nearly 550,000 employees worldwide, FedEx moved an average of 16 million shipments each day through its 5,000 facilities in FY 2022. The company’s network optimization and investments improved efficiency and capacity for FedEx customers.
“All around the world, FedEx helped individuals, businesses, and communities emerge from the pandemic by moving goods and providing services that connect humankind and power the global economy,” said Raj Subramaniam, President and CEO, FedEx Corporation. “The report illustrates the ongoing and important work we do every day, including supporting small- and medium-sized businesses which are the backbone of our local communities. We call this, the ‘FedEx Effect.’”
Measuring the FedEx Effect:
The shipping and logistics company plays a role in fueling innovation, creating, and supporting local jobs, as well as helping lift individuals and their communities regionally and in major markets around the world.
U.S. Impact
The company’s presence in the United States spans from California to New York, Alaska to Florida with delivery services to every U.S. ZIP code and has a significant impact on the U.S. economy and jobs. In FY 2022, FedEx employed over 412,000 U.S. team members and contributed roughly 12% of the total output of the U.S. Transportation and Logistics sectors.
FedEx fleet and facility modernizations over the last year improved productivity and delivered network efficiencies that provided customers with better service. This business activity led to $8.5 billion worth of indirect economic growth in the U.S. economy and supported nearly 50,000 additional jobs beyond its employment base. For more information on FedEx’s state and local market impacts, view the full report here.
In April 2022, FedEx was named one of the 100 Best Companies to Work For by Great Place to Work® and Fortune magazine—the 15th year that FedEx has been included on this prestigious list.
“Over decades we’ve built the infrastructure – both physical and digital – to meet the needs of our customers and deliver to every community in the U.S.,” said Brie Carere, Executive Vice President and Chief Customer Officer, FedEx Corp. “As the country emerged from the pandemic, our network of facilities and team members provided customers with excellent service and supported economic growth and recovery.”
Giving Impact
The report shows how FedEx contributes to the communities where its team members live and work through charitable contributions and direct efforts to deliver a more sustainable future. In FY 2022, FedEx donated over $86 million to charities and local non-profits. The company also served as a critical conduit for food and aid deliveries and donations to Ukraine and Shanghai, among others. It also shows how the company is committed to connecting the world responsibly, through its stated goal of carbon-neutral operations by 2040 and pursuit of investments in renewable energy to power its operations.
Read the full FedEx Economic Impact Report and explore the FedEx Effect in communities and regions around the world at fedex.com/economicimpact.
About FedEx
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $95 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its nearly 550,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.
Isabel Rollison
FedEx Media Relations
901-434-8100
This email address is being protected from spambots. You need JavaScript enabled to view it.
Annual Collaboration with Con Edison, New York Power Authority and 174 Power Global Introduces Students to Electric Vehicles and Jobs in the Green Economy
NEW YORK--(BUSINESS WIRE)--Youth at the Variety Boys & Girls Club of Queens today joined a “speed mentoring” session focused on environmental careers as they learned about electrified transportation and green energy jobs from representatives of the New York Power Authority (NYPA), Con Edison and 174 Power Global, a renewable energy company. 174 Power Global also presented a $15,000 check to the Boys & Girls Club to support STEM programs.
Students presented the model electric vehicles they recently built with instruction from NYPA staff, and asked experts from each of the three partners questions. NYPA also showcased a Kia EV6 and Chevrolet Bolt to students. The program follows an event hosted last year which celebrated the graduation of nearly 40 students from a Science, Technology, Engineering and Math (STEM) program.
“New York State is transitioning to a clean energy economy and committing to innovative solutions and the development of a skilled workforce,” said Justin E. Driscoll, NYPA’s interim president and CEO. “It’s vital that we cultivate our future clean energy leaders and help them learn about promising careers in the environmental space. The next generation will be continuing the battle against climate change, helping to further reduce carbon emissions and working to make New Yorkers’ lives better.”
STEM programming and mentorship has specific importance to Western Queens, where a large percentage of New York City’s power has historically been generated. Students met with representatives and learned about job opportunities in STEM fields. The mentors hope to inspire students to pursue green careers in science and technology-related jobs.
“Exercises like building electric vehicle models bring emerging technologies to life and help students learn about sustainable issues such as zero-emissions transportation and energy storage in a fun and personally meaningful way,” said Lisa Payne Wansley, vice president of NYPA’s Environmental Justice program. “NYPA is pleased to again collaborate with 174 Power Global and Con Edison on an educational STEM program and we hope we’ve encouraged these students to learn more about New York’s clean energy field.”
Richard David, Con Edison’s director of Regional and Community Affairs in Queens, said, “It is essential to Con Edison and our region that we train and educate young people about the roles they can play in creating a clean energy future. We are optimistic that today’s event inspired enthusiasm, interest and curiosity in the youths who participated and got the benefit of expertise from our company, NYPA, and 174 Power Global.”
174 Power Global CEO Henry Yun, PhD., presented a $15,000 donation to the Boys & Girls Club prior to the event, in addition to $15,000 donated last year. The company was selected by Con Edison to develop the East River Energy Storage Project being built at the Astoria Energy Campus. The 100-megawatt project, enough to power the World Trade Center for about a day, will be the largest energy storage system in NYC with an energy contract with Con Edison on property owned by NYPA that once housed the former Charles Poletti power plant.
“Developing one of the first utility-scale 100MW energy storage projects in the State is a privilege that comes with responsibility to the surrounding community, and 174 Power Global is committed to providing green economy jobs to the local community, in particular at a location that is close to our energy storage project,” said Dr. Yun. “We are pleased to play a part in inspiring the next generation of STEM professionals by supporting the great work of the Boys and Girls Club of Queens in STEM education.”
Costa Constantinides, CEO of the Variety Boys and Girls Club, said, “As we prepare to expand our programming and develop a new state of the art building, it means a lot to have community partners like NYPA, Con Edison and 174 Power Global demonstrating continued support for the Club and our students. I look forward to continuing to work with these partners to provide STEM programming to youth in the local community to introduce them to opportunities in building a strong work force to support the green transition.”
Download photos here, here, here, here, here and here.
About the Variety Boys and Girls Club of Queens
The Variety Boys and Girls Club of Queens serves over 4,000 young people each year, and the facility is open to the community 7 days a week. The space includes an indoor swimming pool, makerspace lab, computer room, teaching kitchen, gym, auditorium, art studio, dance studio, film studio, and outdoor playground. Programming serves all children (ages 6-18) including homework help, swimming and sports, coding, engineering, gourmet cooking, drama, dance, media production and so much more.
About NYPA
NYPA is the nation's largest state public power organization, through the operation of its 16 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. For more information visit http://www.nypa.gov/ and follow us on Twitter @NYPAenergy, Facebook, Instagram, WordPress, and LinkedIn.
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $14 billion in annual revenues and $65 billion in assets. The utility delivers electricity, natural gas and steam to 3.4 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit www.conEd.com.
About 174 Power Global
174 Power Global is a leading solar and energy storage project developer focused on North America’s utility energy market. The company is wholly owned by the Hanwha Energy Corporation, and is headquartered in Irvine, California. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with utilities, landowners, local communities, financial investors and other partners to build highly productive projects throughout North America.
174 Power Global is uniquely positioned to become a leader in the Green Hydrogen and Digital Infrastructure economies by leveraging its core strength in utility-scale PV and ESS generation development and operation to fuel the growth of both emerging industries.
The company's name was derived from the statistic that the Earth receives 174 petawatts of energy from the sun at any moment.
NYPA: Media Relations | This email address is being protected from spambots. You need JavaScript enabled to view it. | 914-346-4656
174 Power Global: Kelly Kimberly | This email address is being protected from spambots. You need JavaScript enabled to view it. | 713-822-7538
Con Edison: Media Relations | 212-460-4111
DUBLIN--(BUSINESS WIRE)--The "Tank Level Monitoring System Market Research Report by Product (Data Centre, Data Services, and Invasive), Component, Application, Technology, State - United States Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The United States Tank Level Monitoring System Market size was estimated at USD 173.61 million in 2021, USD 182.48 million in 2022, and is projected to grow at a CAGR 7.05% to reach USD 261.35 million by 2027.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Tank Level Monitoring System Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the United States Tank Level Monitoring System Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the United States Tank Level Monitoring System Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the United States Tank Level Monitoring System Market?
4. What is the competitive strategic window for opportunities in the United States Tank Level Monitoring System Market?
5. What are the technology trends and regulatory frameworks in the United States Tank Level Monitoring System Market?
6. What is the market share of the leading vendors in the United States Tank Level Monitoring System Market?
7. What modes and strategic moves are considered suitable for entering the United States Tank Level Monitoring System Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/6qlhnz
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
DUBLIN--(BUSINESS WIRE)--The "Recycled Carbon Fibers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Recycled Carbon Fibers Market to Reach $181.5 Million by 2027
The global market for Recycled Carbon Fibers, estimated at US$102.6 Million in the year 2020, is projected to reach a revised size of US$181.5 Million by 2027, growing at a CAGR of 8.5% over the period 2020-2027.
Chopped, one of the segments analyzed in the report, is projected to record 9% CAGR and reach US$110.6 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Milled segment is readjusted to a revised 7.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $24.6 Million, While China is Forecast to Grow at 10.7% CAGR
The Recycled Carbon Fibers market in the U.S. is estimated at US$24.6 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$30.6 Million by the year 2027 trailing a CAGR of 10.7% over the period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 7.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.
What's New for 2022?
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 49 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/qqjegq.
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
ST. CATHARINES, Ontario--(BUSINESS WIRE)--#yourmarinecarrierofchoice--Algoma Central Corporation (TSX: ALC) (TSX: ALC.DB.A) today announced that it will report its financial results for the three and nine months ended September 30, 2022 before market open on November 7, 2022. Our third quarter earnings release as well as full financial results will be available on the Company's website and on SEDAR.
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes - St. Lawrence Seaway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers and product tankers. Since 2010 we have introduced 10 new build vessels to our domestic dry-bulk fleet, with two under construction and expected to arrive in 2024, making us the youngest, most efficient and environmentally sustainable fleet on the Great Lakes. Each new vessel reduces carbon emissions on average by 40% versus the ship replaced. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates the world's largest fleet of pneumatic cement carriers and a global fleet of mini-bulk vessels serving regional markets. Algoma truly is Your Marine Carrier of Choice™. For more information about Algoma, visit the Company's website at www.algonet.com
Gregg A. Ruhl
President & CEO
905-687-7890
Peter D. Winkley, CPA, CA
E.V.P. & Chief Financial Officer
905-687-7897
LAS VEGAS--(BUSINESS WIRE)--$ADRT #ADRT--Ault Disruptive Technologies Corporation, a special purpose acquisition company (the “Company”), announced today that on October 20, 2022 it had received a letter (the “Letter”) from the NYSE Regulation indicating that NYSE Regulation has determined to commence proceedings to delist the Company’s warrants from the NYSE American exchange and that trading in the warrants would be suspended immediately. Specifically, NYSE Regulation noted in the Letter that the warrants are no longer suitable for listing based on low selling price levels, pursuant to Section 1003(f)(v) of the NYSE American Company Guide. The Company does not intend to appeal the NYSE Regulation’s determination to delist the warrants.
About Ault Disruptive Technologies Corporation
Ault Disruptive Technologies Corporation, a Delaware corporation, is a recently organized blank check company incorporated in February 2021 whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination.
While we may pursue an initial business combination opportunity in any business, industry, sector or geographical location, we intend to focus on opportunities to acquire companies with innovative and emerging technologies, products or services that have the potential to transform major industries and radically impact society. We intend to acquire a target business or businesses with disruptive technologies that our management team believes can achieve mainstream adoption and create opportunities for long-term appreciation in value.
Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's annual report on Form 10-K filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Ault Disruptive Technologies Corporation
This email address is being protected from spambots. You need JavaScript enabled to view it.
The Industry’s Largest Truckload Carrier Increases Idle Smart Deployment and Furthers Its Fuel Efficiency and Sustainability Initiatives
KANSAS CITY, Mo.--(BUSINESS WIRE)--Idle Smart, the leader in integrated idle management technology today announced that Knight-Swift Transportation Holdings Inc., North America’s largest truckload transportation company, has selected Idle Smart as the standard idle management solution for its Volvo truck purchases.
Idle Smart was selected due to its industry leading innovation and its ability to impact Knight-Swift’s fuel efficiency goals and stated emissions reduction initiatives. Idle Smart also provides Knight-Swift additional vehicle uptime benefits – such as proactive battery management and cold start protection as well as customized in-vehicle software.
“This opportunity to further expand our relationship with Knight-Swift is a demonstration of the innovation and reliability Idle Smart offers in all of its products and services for its customers,” said Andrew Smith, Vice President of Sales at Idle Smart. “We look forward to continuing to work with Knight-Swift and Volvo to provide the industry’s largest trucking company with best-in-class solutions that ensure fuel efficiency, battery management and reduced emissions today, tomorrow and into the future.”
Idle Smart’s relationship with Knight-Swift began in 2019 with its initial implementation and integration with Volvo’s VNL 760. Since that time, Idle Smart has expanded its relationship with Knight-Swift, including the creation of an offering for Knight-Swift lease purchase operators, its medium duty operations, and for its Volvo VNL 300 day cabs. Idle Smart has also benefitted from Knight-Swift’s feedback and insight to further evolve its offering with additional fuel-saving functionality. “Our product is only where it is today because we listen to our customers and partners, then take those insights and use them to create a more valuable solution for fleets like Knight-Swift.”
For more information about Idle Smart’s solutions for commercial fleets, please visit idlesmart.com.
About Idle Smart
Idle Smart's proprietary software and cloud-connected IoT solution allows fleets with light-, medium-, and heavy-duty vehicles to reduce fuel consumption and carbon emissions while increasing vehicle uptime. Idle Smart operates throughout North America and serves thousands of customers across a wide range of industries. The company’s mission is to provide industry-leading solutions to increase the efficiency and sustainability of the fleets that power the North American economy. For more information, visit www.idlesmart.com.
Jeff Lynch
913-744-4350
This email address is being protected from spambots. You need JavaScript enabled to view it.
WIXOM, Mich.--(BUSINESS WIRE)--XL Fleet Corp. (NYSE: XL) (“XL Fleet” or the “Company”), a provider of subscription-based services that make it easy for homeowners and small businesses to own and maintain rooftop solar and battery storage, today announced that on October 20, 2022, it received a notice from the New York Stock Exchange (“NYSE”), notifying the Company that it is out of compliance with the NYSE's price criteria for continued listing standards because, as of October 19, 2022, the average closing price of the Company's common stock was less than $1.00 per share over a consecutive 30 trading-day period.
The Company will notify the NYSE of its intent to cure its stock price deficiency within the applicable time period required by the NYSE, and to return to compliance with the NYSE continued listing standard. The Company can regain compliance at any time within the six-month period following receipt of the NYSE notice if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least $1.00 and an average closing share price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. The Company intends to consider all available alternatives, including, but not limited to, a potential reverse stock split, subject to stockholder approval, no later than at the Company's next annual meeting of stockholders, if necessary to cure the stock price non-compliance. Under the NYSE’s rules, if the Company determines that it will cure the stock price deficiency by taking an action that will require stockholder approval by no later than its next annual meeting of stockholders and implements the action promptly thereafter, the price condition will be deemed cured if the price promptly exceeds $1.00 per share, and the price remains above that level for at least the following 30 trading days.
The NYSE notification does not affect the Company's business operations, its Securities and Exchange Commission reporting requirements, credit agreements or other contractual obligations. The Company's common stock will continue to be listed and traded on the NYSE, subject to its compliance with other NYSE continued listing standards. The Company is currently in compliance with other applicable NYSE continued listing standards.
This press release is issued as required under the NYSE rules. The notice from the NYSE was issued pursuant to Section 802.01C of the NYSE's Listed Company Manual.
About XL Fleet
XL Fleet provides subscription-based services that make it easy for homeowners and small businesses to own and maintain rooftop solar and battery storage. Our as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. XL Fleet has more than 52,000 subscribers across the United States. For additional information, please visit www.xlfleet.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to: the Company’s ability to regain compliance with the continued listing standards of the NYSE within the applicable cure period; the Company’s ability to continue to comply with applicable listing standards of the NYSE; expectations regarding the growth of the solar industry, home electrification, electric vehicles and distributed energy resources; the ability to successfully integrate the Spruce Power acquisition; the ability of XL Fleet to implement its plans, forecasts and other expectations with respect to Spruce Power’s business and realize the expected benefits of the acquisition; the ability to identify and complete future acquisitions; the ability to develop and market new products and services; the effects of pending and future legislation; the highly competitive nature of the Company’s business and markets; litigation, complaints, product liability claims and/or adverse publicity; cost increases or shortages in the components or chassis necessary to support the Company’s products and services; the introduction of new technologies; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, regulatory compliance and customer experience; the potential loss of certain significant customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the inability to convert its sales opportunity pipeline into binding orders; risks related to the rollout of the Company’s business and the timing of expected business milestones, including the ongoing global microchip shortage and limited availability of chassis from vehicle OEMs and our reliance on our suppliers; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 31, 2022, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.
XL Fleet Investors:
This email address is being protected from spambots. You need JavaScript enabled to view it.
XL Fleet Media:
This email address is being protected from spambots. You need JavaScript enabled to view it.
Veransa, a Zero-Waste Leader in Transforming Green & Wood Waste Into Beneficial Re-Use Products, Expands Its Footprint Further Southward With New Acquisition.
SARASOTA, Fla.--(BUSINESS WIRE)--#CircularEconomy--Veransa Group, Inc, a zero-waste leader in transforming green & wood waste into beneficial re-use products on an industrial scale through vertical integration of waste collection/recycling centers with organic products manufacturing facilities, announced the acquisition of MW Horticulture (“MW”) as it continues a period of significant growth.
The deal, which formally closed on October 19, 2022, includes MW’s green and wood waste collections, recycling, and organics production facility in Fort Myers, FL with an option to acquire MW Horticulture’s LaBelle, FL facility. The acquisition integrates MW’s extensive range of specialized organic blended-soil products into Veransa’s product portfolio and extends Veransa’s geographic reach into the rapidly growing South Florida market.
The Fort Myers facility will be modernized under Veransa’s management and strict safety and operational procedures and fall under a new South Florida division of the Veransa Group, led by the General Manager of Veransa South Florida. The acquisition will extend Veransa’s processes for ensuring the safest and most efficient high-volume processing of yard & wood waste, and production of high-quality organic products.
“We are excited to integrate MW into the Veransa Group. The acquisition advances Veransa’s strategic priority to expand its footprint and reinforces future growth. It allows us to expand further into the rapidly growing South Florida market, while supporting our commitment to producing superior quality organic products, such as our soil-regenerating organic compost, with a zero-waste approach to production, and an unwavering pledge to sustainability,” said CEO Marc Owensby.
“By acquiring MW, Veransa will increase its organic soil-products portfolio to incorporate more specialized blends, including several agricultural and nursery mixes, which we can produce in bulk. Veransa is already the largest recycler of yard and wood waste in Central and SW Florida with five facilities in Southwest Florida. This acquisition will only increase our share of green and wood waste intake, while maintaining our standing as the largest manufacturer of superior quality organic compost, mulches and soils in the area,” said COO, Kevin Dunlap.
About Veransa:
Veransa (www.veransa.com) is a zero-waste leader in transforming urban wood and yard waste into valuable beneficial re-use products on an industrial scale. Veransa vertically integrates green and wood waste collection and recycling centers with organic products manufacturing facilities to achieve highest-value use, waste-to-organic commodities production. Veransa aggregates green waste and transforms it, using electrically powered processing equipment, into beneficial re-use products, including superior-quality, soil-regenerating, organic compost that is OMRI Listed®, STA approved, and free of biosolids, manure or food waste. The company is unique in producing superior quality certified organic compost on an industrial scale in Southwest and Central Florida. Its organic compost is the main ingredient in all of Veransa’s blended soil products. Veransa also processes wood waste into feedstock for mulch and renewable energy. Veransa is an Environmental, Social, and Governance (ESG) portfolio company of RFE Investment Partners.
About RFE:
RFE Investment Partners (www.rfeip.com) is a private equity firm focused on making control investments in established small market companies located in the United States. RFE is a long-standing Connecticut-based firm founded in 1980 with over 40 years of experience investing in the lower middle market. RFE’s investment strategy is to transform its portfolio companies from the lower end of the market to fully professionalized and market leading middle market companies. RFE is currently investing out of Fund IX.
Roxane Teymourtash
240-413-3949
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) today announced that its Board of Directors declared a quarterly dividend on the Company’s common stock of $0.35 per share, or $1.40 per share on an annualized basis. The dividend is payable on November 15, 2022 to stockholders of record as of November 1, 2022.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
Safe Harbor
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally.
Investors:
Kevin L. Cole, CFA
609.524.4526
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Laura Avant
713.537.5437
This email address is being protected from spambots. You need JavaScript enabled to view it.
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.