DUBAI, United Arab Emirates--(BUSINESS WIRE)--AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has signed a Framework Agreement with the Government of Egypt to develop a 1,000MW green hydrogen project, for the production of green ammonia focused on the export market.
Announced on the sidelines of the 2022 United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, the project will support the long term vision of Egypt to become a hub for green hydrogen production. AMEA Power has partnered with the Sovereign Fund of Egypt, the Egyptian Electricity Transmission, the New and Renewable Energy Authority, and the Suez Canal Economic Zone to deliver the project.
Hussain AlNowais, Chairman of AMEA Power, said: “The world is entering a new era of clean energy deployment, where emerging solutions like green hydrogen will present huge opportunities for investment, job creation and countries like Egypt to become major hubs for clean energy. AMEA Power is committed to working with its partners to help deliver the global energy transition and support emerging markets to advance their economic and social development. This project is the first of several large scale clean energy projects that AMEA Power will develop across the region as the Company enters a new phase in its journey and begins to scale up operations across Africa.”
Located at the coastal town of Ain Sokhna in the Suez Governorate, the green hydrogen project will have a capacity to produce 800,000 tonnes of green ammonia per year for domestic and international export.
The clean energy project is aligned with the Integrated Sustainable Energy Strategy (ISES) set out by the Egyptian government, which aims to reach renewable energy targets of 42% by 2035.
Ayman Soliman, Chief Executive Officer of The Sovereign Fund of Egypt, said: “This great success marks a major milestone for Egypt’s green strategy and was only possible with the persistence of all government sponsors and the partners’ belief in the potential of Egypt as a green hydrogen hub. Egypt has put a tremendous effort in the development of its Green Hydrogen Program and has made incredible progress reaching this stage in a matter of months. The signing of this binding agreement is a testament to TSFE’s ability to execute on its role in attracting private investment into strategic sectors. It comes in-line with TSFE’s decarbonization strategy using sustainable means that benefit the economy and position Egypt as a regional green energy hub.”
AMEA Power is in advanced discussions with a number of European, Chinese and Japanese companies to secure a long-term offtaker for the green ammonia. AMEA Power is also discussing with Egyptian Hydrocarbon Corporation in Egypt to potentially provide it with a portion of the green hydrogen production to support the development of green industries in the country.
AMEA Power has already completed a feasibility study for the project, which was conducted by a selected group of international advisors in the different areas - legal, technical and financial. Front End Engineering Design (FEED) is scheduled to start in January 2023, with a Final Investment Decision expected within the next 24 – 36 months.
The plant will be developed in two 500MW phases to de-risk the project and ensure it benefits from technology efficiency improvements and declining equipment prices. Operations on the first phase of the project are expected to commence in 2027.
AMEA Power is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition. The Company has a clean energy pipeline of nearly 6GW across 15 countries, including several large scale projects in Egypt. The Company is at advanced stages with its 500MW Abydos Solar Photovoltaic (PV) Plant, which is located within the Aswan Governorate, and the 500MW Amunet Wind Farm, located within the Red Sea Governorate.
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, owner and operator of renewable energy projects. As one of the fastest growing renewable energy companies in the region, AMEA Power has assembled a world class team of industry experts to deliver projects across Africa, the Middle East and other emerging markets. The company is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition.
Website: www.tsfe.com
*Source: AETOSWire
Robert Sinclair
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Mobile: +971 (0) 56 998 0713
For more information, please visit: www.ameapower.com
LOS ANGELES--(BUSINESS WIRE)--Surf Air Mobility Inc. announced today its confidential submission of a draft registration statement on Form S-1 with the Securities and Exchange Commission (the "SEC") for a proposed direct listing of its common stock. The registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations of offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.
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Awards event recognized organizations that are transforming industries and shaping society
LOS ANGELES--(BUSINESS WIRE)--Patented battery system provider Joule Case received the first ever CleanTech Deal of the Year recognition at the inaugural 2022 Equity Crowdfunding Awards gala last week. The awards ceremony was the foundational event of the 2022 Equity Crowdfunding Week, a three-day showcase of leaders, founders and investors involved with the crowdfunding industry.
Nominees for each award were determined by quantitative and qualitative factors detailed by the KingsCrowd rating and analytics platform, and then opened to public voting to determine the winner.
“This is a validation for our investors, our team, our customers and everyone who believes in our vision and ability to transform industries with flexible, scalable and emission-free energy sources,” said James Wagoner, CEO, Joule Case. “Our momentum and increasing success in current and emerging markets would not be possible without your support. We also want to thank KingsCrowd, StartupStarter and everyone who made this event possible to bring together and recognize incredibly inspiring companies.”
Earlier this year, Joule Case completed a successful crowdfunding campaign that raised $1,127,379 and attracted 920 investors. It then opened a new $4M round on Wefunder to raise a total of $5M to expand into new markets where clean, safe, and cost-efficient renewable power is a strategic priority and an ideal match with the company’s portable, emission-free energy storage expertise and product line.
The company has recently partnered with Insane Impact, to offer a new off-grid, battery-powered solution for its state-of-the-art displays which have elevated some of the most prestigious live experiences from globally recognized sporting events to music festivals to experiential installations for the world’s leading brands. Joule Case is also partnering with Dronedek to provide emissions-free power to its “mailbox of the future” products that deliver a secure deposit receptacle for autonomously and traditionally delivered packages.
Prior to the awards ceremony, Joule Case also participated in a cleantech industry roundtable to share insights about the future of clean energy from those “shaping the industry from within.”
About Joule Case Inc.
Joule Case provides power where you need it when you need it, with flexible, patented battery systems that easily scale for a variety of power applications. The company was started in a Boise, Idaho garage by James Wagoner and Alex Livingston, fueled by their shared passion to enable clean and renewable energy to reach more people. They have spent years developing the unique stackable, portable, scalable, easy-to-use battery system now powering live events, food trucks and several other applications across the United States. The flexibility and adaptability of Joule Case systems can be combined together to make larger battery systems with minimal engineering and installation time.
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Chad Biggs
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EV Charging License Aligned with Evolving EV Charging Infrastructure
DENVER--(BUSINESS WIRE)--MPEG LA, LLC today announced that it has further aligned its EV Charging Patent Portfolio License (“EV Charging License”) with evolving EV charging infrastructure to make the License more effective in addressing the market’s needs now and in the future.
“As the world transitions rapidly to electrified transportation with convenient, reliable, and affordable networks of standards-based electric vehicle chargers in automobiles, along highways and in communities worldwide, MPEG LA’s EV Charging patent pool will assure implementers access to fundamental intellectual property on reasonable terms,” said Larry Horn, President and CEO of MPEG LA. “It is a necessary element of an orderly transition providing freedom to operate, reduced litigation risk and predictability in business planning to equip the market.”
In support of the worldwide EV charging rollout, MPEG LA’s EV Charging License addresses multiple geographic and industry standards and the higher power and increasing importance of High-Level Communications (HLC) in commercial chargers to make the License a one-stop solution for the worldwide EV charging market. Royalty products and rates were recently revised in recognition of emerging market needs. More information may be found here.
MPEG LA’s objective is to offer worldwide access to as many EV charging essential patents as possible to everyone on the same terms under a single license. Any party that believes it has patents that are essential to the EV Charging Standard is welcome to submit them for an evaluation of their essentiality by MPEG LA’s patent experts and inclusion in the License if determined to be essential. Terms and procedures governing patent submissions may be requested here.
MPEG LA, LLC
MPEG LA is the world’s leading provider of one-stop licenses for standards and other technology platforms. Starting in the 1990s, it pioneered the modern-day patent pool helping to produce the most widely used standards in consumer electronics history and is expanding access to other groundbreaking technologies. MPEG LA has operated licensing programs for a variety of technologies consisting of more than 26,000 patents in 120 countries with 285 patent holders and some 7,300 licensees. By assisting users with implementation of their technology choices, MPEG LA offers licensing solutions that provide access to fundamental intellectual property, freedom to operate, reduced litigation risk and predictability in the business planning process. For more information, go to www.mpegla.com.
Tom O’Reilly
MPEG LA, LLC
Tel: 303.200.1710
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SHENZHEN, China--(BUSINESS WIRE)--On November 16, the roll-off production line ceremony of BYD's 3 millionth new energy vehicle was held at BYD's global headquarters. It was not only a symbolic milestone for BYD but also an important achievement for the development of new energy vehicles worldwide. While it took BYD 13 years to achieve the first one million new energy vehicle landmark, just one year later, BYD accomplished the milestone from "one million to two million new energy vehicles". Now, just in 6 months, BYD reached the milestone of " from two million to three million new energy vehicles". BYD has showcased a massive "acceleration" in the new energy vehicle industry, facilitating the rapid change of global green mobility. At the ceremony, Mr. Wang Chuanfu, Chairman and President of BYD, expressed his sincere gratitude to BYD customers, media friends, industry partners, peers, and employees.
At the event, Wang Chuanfu, Chairman and President of BYD, delivered the 3 millionth new energy vehicle to Wang Shuang, a soccer player who was named Asian Football Confederation (AFC) Women’s Player of the Year in 2018. “It is a great honor to be the owner of BYD's 3 millionth new energy vehicle”, said Wang Shuang, “I hope everyone can support sustainable mobility to help Cool the Earth by 1℃ and show our strength to the world.”
“Dealing with the industrial transformation and the ever-changing consumption trends in the future, BYD will continue to focus on scientific and technological innovation. In addition to that, BYD will keep on fulfilling people’s pursuit for a better life with leading technologies and diversified products”, said Wang Chuanfu.
He also stated that building on the existing “four-in-one” security system that guarantees the safety of battery’s raw materials, battery cells, battery packs, and vehicles, BYD would introduce another pioneering technology to further improve the security system. “To reassure our customers about safety, we have made it a mission that we will carry to the end”, said Wang Chuanfu.
During the event, Wang Chuanfu announced that BYD would build a high-end brand targeting the luxury market, Yangwang, with disruptive technologies and products. Its upcoming model will launch in the first quarter of 2023, bringing users unprecedented high performance.
In addition, in 2023, BYD will release a new brand grounded in highly professional and personalized identities, to meet the diversified demand of consumers. The brand will harness the co-creation with users and warmly welcome all the franchised dealerships to join BYD for its promotion.
In the future, BYD Auto will form a powerful brand matrix including BYD (Dynasty & Ocean), Denza, Yangwang, and another new brand that specializes in professional and personalized identities, covering family cars and luxury cars. With popularized and personalized design, BYD will constantly provide high-quality products that address customers' ever-rising expectations.
Furthermore, BYD will adhere to its global strategy by further developing the global market and promoting the passenger vehicle industry globally. Currently, BYD has extended its new energy vehicle footprint to over 400 cities across 70 countries and regions on 6 continents.
The roll-off of the 3 millionth NEV is not only an important milestone in BYD's history but also the vital landmark of witnessing the acceleration of global green mobility. In the future, BYD will continue to cooperate with partners from various sectors to achieve high-quality development. Under this collaboration, BYD will also persist in facilitating the progress of the global new energy vehicle industry and accelerating the transition of our mother planet to become a greener world.
About BYD
BYD is a multinational high-tech company devoted to leveraging technological innovations for a better life. Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy, and electronics, with over 30 industrial parks in China, the United States, Canada, Japan, Brazil, Hungary, and India. From energy generation and storage to its applications, BYD is dedicated to providing zero-emission energy solutions that reduce global reliance on fossil fuels. Its new energy vehicle footprint now covers 6 continents, over 70 countries and regions, and more than 400 cities. Listed in both Hong Kong and Shenzhen Stock Exchanges, the company is known to be a Fortune Global 500 enterprise that furnishes innovations in pursuit of a greener world.
For more information, please visit www.bydglobal.com.
About BYD Auto
Founded in 2003, BYD Auto is the automotive subsidiary of BYD, a multinational high-tech company devoted to leveraging technological innovations for a better life. Aiming to accelerate the green transition of the global transportation sector, BYD Auto focuses on developing pure electric and plug-in hybrid vehicles. The company has mastered the core technologies of the entire industrial chain of new energy vehicles, such as batteries, electric motors, electronic controllers, and automotive-grade semiconductors. It has witnessed in recent years significant technological advancements, including the Blade Battery, the DM-i and DM-p hybrid technology, the e-Platform 3.0, and the CTB technology. The company is the world’s first carmaker to stop the production of fossil-fueled vehicles on EV shift and has remained top of new energy passenger vehicle sales in China for 9 years in a row.
Asia-Pacific: Mia Gu, This email address is being protected from spambots. You need JavaScript enabled to view it. tel: +86-755-8988-8888-69666
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Facility expected to create more than 500 full-time jobs and approximately 4,500 construction jobs and generate an estimated $50 billion for the community over 20 years
THE WOODLANDS, Texas--(BUSINESS WIRE)--Chevron Phillips Chemical Company LLC and QatarEnergy announced today that they are proceeding with the construction of an $8.5 billion integrated polymers facility in Orange, Texas, expected to create more than 500 full-time jobs and approximately 4,500 construction jobs and generate an estimated $50 billion for the community in residual economic impacts.
The companies have made a positive final investment decision on the project and created a joint venture company, Golden Triangle Polymers Company LLC, named for the Golden Triangle region of Texas that includes the city of Orange. Chevron Phillips Chemical owns a 51% equity share in the joint venture and QatarEnergy owns 49%.
“Chevron Phillips Chemical and QatarEnergy have collaborated for over 20 years on the assets we operate together in Qatar. We have a great relationship and a proven track record of operating these facilities safely and reliably,” said Chevron Phillips Chemical President and CEO Bruce Chinn. “Our products help make life better for billions of people every day, and they are part of a lower carbon future. This facility will help meet the growing demand for our products and improve the quality of life for the world’s growing global population.”
His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy said: “We are excited to announce taking the FID on our largest petrochemical investment ever, highlighting QatarEnergy’s integrated position as a major player in the LNG and international exploration sectors, as well as being a global petrochemicals producer. This important project will complement QatarEnergy’s growing portfolio, both internationally as well as in the United States, and will help meet growing global demand for polymers. It builds on our long-term and successful partnership with Chevron Phillips Chemical, and we look forward to further collaborations in the future.”
Once operational, the plant will produce Marlex® polyethylene. Polyethylene is used in the production of durable goods like pipe for natural gas and water delivery and recreational products such as kayaks and coolers. It is also used in essential packaging applications to protect and preserve food, helping prevent it from going to landfills, and keep medical supplies sterile.
The plant, expected to begin operations in 2026, will include a 2,080 KTA ethane cracker and two 1,000 KTA high-density polyethylene units. The project is targeting to have approximately 25% lower greenhouse gas emissions than similar facilities in the United States and Europe, supporting the company’s efforts to help enable a lower carbon future. Chevron Phillips Chemical will manage engineering, procurement and construction for the project and operate the facility after start-up.
Construction of the Golden Triangle Polymers plant will begin immediately near Chevron Phillips Chemical’s existing facility in Orange, located 113 miles east of Houston. Chevron Phillips Chemical and its predecessors have had a presence in the Orange community since 1955.
The engineering, procurement and construction of the polyethylene units will be executed through ZDJV, a joint venture between Zachry Industrial Inc. (Zachry Group) and DL USA, Inc. The furnace portion of the ethane cracker engineering and procurement will be executed by T.EN Stone & Weber Process Technology, Inc. while PCL Industrial Construction Co. will provide construction services. Engineering, procurement and construction for the additional portions of the ethane cracker will be executed by JKJV, a joint venture between JGC America, Inc. and Kiewit Energy Group, Inc., and BMZ Third Coast Partners, a joint venture between Burns & McDonnell Engineering Company, Inc. and Zachry Industrial, Inc., (Zachry Group) will execute the utilities and infrastructure scope of work. The main automation contractor for the project is Emerson Process Management, LLLP, and W.T. Byler Co., Inc. is managing heavy civil work for the entire site. The project also includes a rail and storage-in-transit yard, with engineering, procurement and construction services provided by W.T. Byler Co., Inc.
“We work hard to be a good neighbor in the communities where we operate, and we are extremely grateful to the community members and public officials in Orange for their support as we developed this project,” Chinn said. “This facility will contribute to the social and economic fabric of the entire Golden Triangle region of Texas, bringing in thousands of high-paying American jobs and billions of dollars in economic impact. We care deeply about the community of Orange, and we’re thrilled to be bringing jobs and resources to the region with safety and environmental performance at the forefront, as always.”
For more information about the project and to contact us, visit www.cpchem.com/goldentrianglepolymers.
About Chevron Phillips Chemical Company LLC
Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, Chevron Phillips Chemical and its affiliates own nearly $18 billion in assets, including 31 manufacturing and research facilities in six countries. Chevron Phillips Chemical is equally owned indirectly by Chevron U.S.A. Inc. and Phillips 66 Company and is headquartered in The Woodlands, Texas. For more information about Chevron Phillips Chemical, visit www.cpchem.com. Also, follow us on Twitter: @chevronphillips.
“Chevron Phillips Chemical” or “CPChem” may refer to one or more Chevron Phillips Chemical subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.
Lisa Trow
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HOUSTON--(BUSINESS WIRE)--On November 16, Air Liquide supported the successful launch of the historic Artemis 1 mission through the supply of high-pressure nitrogen to Launch Complex-39B at Kennedy Space Center in Florida. Air Liquide’s support of NASA’s Artemis program drove an expansion of the capabilities of the Group’s Merritt Island, Florida, site and a renewed ten-year contract with NASA.
Artemis 1 is the first in a series of increasingly complex missions as NASA conducts integrated tests of their deep space exploration systems. The expansion of Air Liquide’s Merritt Island capabilities played a critical role in the launch’s success, as the Artemis launch required nearly double the amount of high-pressure nitrogen than any previous launch. Air Liquide’s flexible and reliable supply of high-pressure nitrogen will help NASA meet its commitment and capability to extend human existence to the Moon and beyond.
In the U.S., for over 50 years, dating back to the Apollo era missions in 1968, Air Liquide has played a valuable role in NASA’s advancement of the U.S. space program through the supply of high pressure nitrogen. The continuous supply of nitrogen has been integral to the lunar missions of the 1970’s, the thirty year Space Shuttle program, the construction of the International Space Station, and most recently the first commercial launches of crew and cargo to orbit from U.S. soil since the shuttle program ended in 2011.
Mike Graff, Chairman & CEO, American Air Liquide Holdings, Inc., said: “Air Liquide is committed to the innovation and advancement of the space program not only in the United States but across the globe. Our expertise in gas applications for the space industry has made Air Liquide a major contributor to space exploration for 60 years. We are proud of the support we are able to provide to an innovative leader like NASA and remain dedicated to delivering operational excellence to the Artemis program and NASA’s pursuit to land the first woman and first person of color on the moon, and to space exploration beyond the moon.”
Air Liquide in the United States
Air Liquide employs more than 20,000 people in the U.S. in more than 1,300 locations and plant facilities including a world-class R&D center. The company offers industrial and medical gases, technologies and related services to a wide range of customers in energy, petrochemical, industrial, electronics and healthcare markets. usa.airliquide.com
A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. Oxygen, nitrogen and hydrogen are essential small molecules for life, matter and energy. They embody Air Liquide’s scientific territory and have been at the core of the company’s activities since its creation in 1902.
Taking action today while preparing the future is at the heart of Air Liquide’s strategy. With ADVANCE, its strategic plan for 2025, Air Liquide is targeting a global performance, combining financial and extra-financial dimensions. Positioned on new markets, the Group benefits from major assets such as its business model combining resilience and strength, its ability to innovate and its technological expertise. The Group develops solutions contributing to climate and the energy transition—particularly with hydrogen—and takes action to progress in areas of healthcare, digital and high technologies.
Air Liquide’s revenue amounted to more than 23 billion euros in 2021. Air Liquide is listed on the Euronext Paris stock exchange (compartment A) and belongs to the CAC 40, CAC 40 ESG, EURO STOXX 50 and FTSE4Good indexes.
Corporate Communications
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Air Liquide Corporate Communications, Americas
Alyson Bartol
+713-624-8594
Digital Experience Management solution provides EDF in the UK with real-time visibility of end-user experience by delivering actionable insights to inform remediation, improve employee productivity, and transform IT operations
SAN FRANCISCO--(BUSINESS WIRE)--Riverbed today announced that EDF in the UK – the biggest generator of zero carbon electricity in Great Britain – has deployed Alluvio Aternity™ Digital Experience Management (DEM) across its Corporate, Customer and Generation business units. This is empowering EDF in the UK to gain visibility into the end-user experience of its business-critical applications on any device, providing them with actionable insights to inform remediation and accurate resolution, improve employee productivity, significantly reduce transaction times, and ultimately deliver an exceptional digital experience for its employees and customers. Aternity, an industry-leading DEM solution, is part of the Alluvio Unified Observability portfolio from Riverbed.
LinkedIn: EDF in the UK exceeds end-user expectations by providing a seamless digital experience with Alluvio Aternity by Riverbed: https://rvbd.ly/3E9PPCg
EDF generates a fifth of the UK’s power, providing electricity to homes and businesses throughout the UK, through a combination of wind, solar, and nuclear energy power generation assets. The energy company has an operational portfolio of 36 wind farms (including two offshore), an ambitious vision for solar and battery storage, with further plans to enable investment in low carbon and renewable technologies in the UK worth over £50bn by 2035.
Improving the End-User Experience
With millions of customers across the UK, it’s imperative that EDF’s consumer-facing business has the contact centre capabilities to service them effectively. However, it traditionally lacked end-to-end visibility and observability over its business-critical applications, so identifying and resolving network and application performance issues was next to impossible.
EDF began its journey using Alluvio Aternity for its End-User Experience Monitoring (EUEM) capabilities. The value was immediately apparent, with Aternity providing a view of digital experience by bringing together the metrics from devices, applications, and the network all into a single view dashboard. This real-time insight into the status of all applications and networks empowers EDF’s IT team to understand what end-users actually experience and allows them to troubleshoot challenges – for example around transaction times – ultimately enabling a better customer service experience.
To further support the drive towards improved customer service, EDF also uses Aternity to assess the workflows and devices that were slowest performing and needed to be replaced. It then used the technology to identify devices needing updating and validated that the resulting upgrades – such as migrating to Windows 10 – had delivered the desired outcome.
Transforming the View of IT Internally
In line with the success of these initiatives, the company also integrated Alluvio Aternity with ServiceNow Incident Management to bolster the resolution of internal IT challenges. Now when a device triggers an alert, ServiceNow collects relevant real-time data from Aternity. The company has created 21 different alerts, including nine system alerts and eight application alerts for hardware. The alerts will flag, for example, if staff have blue screens, battery wear issues, or low disk space, all of which are proven to impact end-user experience. This range of alerts allows IT staff to diagnose root cause proactively and quickly, without end-users even having to raise an incident.
EDF has also created PowerShell scripts (a command line with associated scripting language), and uploaded them to Aternity, to run automatic remediation actions on end-user monitored devices. These remediation actions reduce the number of helpdesk tickets and improve user experiences by identifying and fixing issues remotely before they escalate. For example, one remediation action detects when a computer hasn’t been rebooted for five days and triggers an alert for the user. If the user doesn’t reboot after seven days, the remediation action automatically restarts the device. On average, these actions have saved users 14 minutes of their time, and the support team 15 minutes per incident. These time savings will improve even further as the scripts become fully automated.
Automated Remediation at Scale
Finally, increased visibility is allowing EDF to discover the root cause of issues that affect multiple users. One example being customer relationship management’s slow opening of bills. With Alluvio Aternity, the EDF IT team was able to identify that more than 1,000 machines had a version of Adobe installed which caused the machine to crash when a bill was opened. Similarly, when IT identified that there were persistent memory issues slowing down device performance, it pulled Aternity reports to view the system’s memory utilisation and found that 3,000 devices were using more than 70% of the physical memory. This insight helped the IT team take a different route for improving the memory of all devices.
Seamless Digital Experiences
“Our use of the Alluvio Aternity Digital Experience Management solution has grown and evolved along with our business,” explains Donna Lloyd, Senior Enterprise Product Manager, Platforms & Enablement, Enterprise IT, at EDF. “We started off using Alluvio Aternity as a solution that helped us fix things more quickly by understanding what was behind the latency we faced, whether we had bandwidth issues, or challenges with our devices. It evolved into monitoring our devices and actively looking for problems. We then took it a step further to actually take control with automatic remediation.”
Lloyd continues, “With Riverbed’s technology, we’ve completely transformed the way we manage IT challenges. Moving from being reactive to pre-emptive and now proactive. As a result, Alluvio Aternity has changed how IT is perceived as a department and has ultimately given IT staff the tools they need to better serve our customers.”
John Atkinson, Director Solutions Engineering, UK&I at Riverbed, adds, “EDF is a great example of how organizations around the world are embracing Alluvio by Riverbed, our unified observability portfolio. We’re delighted in the tangible, operational results our technology has delivered for EDF, as well as the way it’s been embraced by their IT team. We look forward to our continued collaboration, supporting them further in delivering seamless, secure digital experiences for their employees and customers that will drive key outcomes for their business.”
About Riverbed
Riverbed is the only company with the collective richness of telemetry from network to app to end user, that illuminates and then accelerates every interaction, so organizations can deliver a seamless digital experience and drive enterprise performance. Riverbed offers two industry-leading portfolios: Alluvio by Riverbed, a differentiated Unified Observability portfolio that unifies data, insights, and actions across IT, so customers can deliver seamless, secure digital experiences; and Riverbed Acceleration, providing fast, agile, secure acceleration of any app, over any network, to users anywhere. Together with our thousands of partners, and market-leading customers globally – including 95% of the FORTUNE 100 – we empower every click, every digital experience. Riverbed. Empower the Experience. Learn more at riverbed.com
Riverbed, Alluvio and certain other terms used herein are trademarks of Riverbed Technology LLC. All other trademarks used herein belong to their respective owners.
Connect with Riverbed
Helen Bainton
Riverbed Technology
+44 (0)7827 806990
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Industry-leading geothermal expertise enabled evaluation of countrywide geothermal potential to explore decarbonization pathways
HOUSTON--(BUSINESS WIRE)--SLB (NYSE: SLB) is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment Authority in building a national strategy to develop the potential of Oman’s geothermal resources.
This announcement follows the completion of an extensive project to evaluate data from more than 7,000 oil, gas and water wells, with the objective of mapping sweet spots for geothermal prospects in the country. Commissioned by the Omani authorities, the SLB experts assessed surface, subsurface and well data from the national data repository over a three-month period.
“Geothermal is one of the world’s most promising clean energy resources, and it has a crucial role to play in reaching net-zero targets,” said Gavin Rennick, president of SLB’s New Energy business. “Using digital technology solutions to assess geothermal resource potential can accelerate prospectivity analysis and, ultimately, the delivery and performance of geothermal installations. We are excited to work with the Ministry of Energy and Minerals and the Oman Investment Authority to explore decarbonization pathways for Oman.”
In the initial phase of the collaboration, SLB’s GeothermEx multidisciplinary geothermal consulting team used a proprietary AI solution to expedite assessment, sorting, and evaluation of the huge volume of data from the Oman Oil & Gas Data Repository (OGDR), and delivered a comprehensive assessment of Oman’s geothermal potential. The next phase will include assessment of the economic feasibility of the development of potential geothermal resources.
“This collaboration between the Ministry of Energy and Minerals, Oman Investment Authority and SLB is in line with Oman’s efforts to decarbonize the energy sector, achieve its Net Zero goal, and implement Oman Vision 2040. Building on existing country data and infrastructure, this collaboration will create opportunities by utilizing the latest technologies in the field of geothermal exploration and ramp up activities in Oman’s clean energy stream. We are glad to work with SLB given the extensive global experience in this field,” said HE Salim Al Aufi, the Omani Minister of Energy and Minerals.
About SLB
SLB (NYSE: SLB) is a global technology company that drives energy innovation for a balanced planet. With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, we work each day on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition. Find out more at slb.com.
About Oman Investment Authority (OIA)
Oman Investment Authority (OIA) is Oman’s sovereign wealth fund, and it is entrusted with managing, investing, and developing the Sultanate’s national and international assets. It has diverse investment portfolios both nationally and internationally, whereby it invests in over 40 countries across various sectors including food, energy, logistics, ICT, public services, finance and investment, food security, tourism, mining, industry, and aviation.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws — that is, statements about the future, not about past events. Such statements often contain words such as “expect,” “may,” “can,” “estimate,” “intend,” “anticipate,” “will,” “potential,” “projected" and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, SLB’s New Energy technologies and partnerships; statements about goals, plans and projections with respect to sustainability and environmental matters; forecasts or expectations regarding energy transition and global climate change; and improvements in operating procedures and technology. These statements are subject to risks and uncertainties, including, but not limited to, the inability to achieve net-negative carbon emissions goals; the inability to recognize intended benefits of SLB’s New Energy strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; the timing or receipt of regulatory approvals and permits; and other risks and uncertainties detailed in the companies’ public filings, including SLB’s most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of such a development changes), or should underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, the parties disclaim any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Media
Moira Duff – Director of External Communication, SLB
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Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, SLB
Joy V. Domingo – Director of Investor Relations, SLB
Tel:+1 (713) 375-3535
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Fund Targets Low-Carbon Real Assets in Energy, Water, and Urban Infrastructure Sectors
SAN FRANCISCO--(BUSINESS WIRE)--Climate Adaptive Infrastructure (“CAI” or the “Firm”), an investment firm that targets control investments in large-scale, low-carbon real assets in the clean energy, water, and urban infrastructure sectors, today announced the successful close of its inaugural fund, Climate Adaptive Infrastructure Fund LP (the “Fund”), raising more than $825 million in equity. In addition, alongside the Fund, CAI has an affiliated co-investment program of over $200 million, for a total of over $1 billion in equity to deploy. The Fund attracted an institutional set of global limited partners comprised of endowments, foundations, insurance firms, pensions and superannuation funds, and fund of funds, in addition to prominent family offices and high net worth individuals.
CAI is led by Founder & Managing Partner Bill Green and a deeply experienced team of professionals who have dedicated their careers to sustainable infrastructure investment, asset operations, and policy in the energy and environmental sectors. The Firm seeks to combat systemic climate change issues by investing in real assets that support the day-to-day needs of growing populations and address the “triple threat” of the climate crisis: physical risk, regulatory risk, and political risk. CAI utilizes a proprietary screening protocol to evaluate investments, their long-term carbon emissions, and viability as a hedge against climate losses.
Bill Green said, “For far too long, our society has invested in infrastructure based on the belief that our future would look just like our past. The climate crisis is now wreaking increasing havoc with assets that were built for a planet that no longer exists. At CAI, our mission supports the development of real assets purpose-built for the future, with the lowest feasible carbon emissions profile and designed to withstand the impacts of the climate crisis.”
To date, CAI has deployed 39% of the Fund across three investments -- Intersect Power, a clean energy company providing low-carbon electricity, fuels, and related products to customers across North America; Sentinel Energy Center, an 850 MW critical peaking power plant in Riverside California; and Rye Development, a leading U.S. developer of low-impact hydropower generation and pumped-hydro energy storage.
“CAI and Bill have been instrumental in Intersect Power’s success and trajectory since the company’s inception. The need for infrastructure that helps to prevent and mitigate climate change is core to both CAI and Intersect Power’s vision. Not only are we aligned in our view of the future state of infrastructure, but also in our shared hope for a livable planet. This critical alignment of values and business has forged an enduring partnership,” said Sheldon Kimber, Co-Founder and CEO of Intersect Power.
Julian Pearson, Co-Founder of FirstPoint Equity who served as the exclusive placement agent for CAI, said, “We are proud to have partnered with Bill Green, a visionary investor with an impressive pedigree and track record of success in the climate and infrastructure sectors. CAI’s mission clearly resonated with the market amid a challenging and crowded fundraising environment, resulting in one of the largest first-time fundraises for the sector. Notably, CAI’s fundraising process was conducted almost entirely through a virtual process.”
“We are thrilled with the substantial support we received from our investors, which will help finance the future development of critical, low-carbon climate infrastructure. Moreover, we could not be more impressed with our internal team, with FirstPoint Equity, a leader within the private capital solutions space who did an outstanding job for us under unprecedented pandemic conditions, and with Kirkland & Ellis, serving as legal counsel, who demonstrated extraordinary skill in navigating the challenges of this major fundraising across infrastructure and real assets,” Mr. Green concluded.
About Climate Adaptive Infrastructure
Founded in 2019, CAI is an infrastructure investment firm specializing in low-carbon real assets in the energy, water and urban infrastructure sectors. The firm seeks investments across core infrastructure assets that improve the sustainability and quality of life for the world’s large and growing population. CAI selects, finances, constructs and manages its investments using climate screens and metrics designed to enhance investment returns and cut carbon emissions. For more information, please visit https://www.climateadaptiveinfra.com/.
About FirstPoint Equity
FirstPoint Equity is an independent world leading private capital solutions group with a special focus on infrastructure and real assets. For more information, please visit https://www.firstpointequity.com.
Media
Jonathan Gasthalter/Sara Widmann
Gasthalter & Co.
(212) 257-4170
New fund to invest in 15 to 20 early and growth-stage companies across U.S.
BOSTON--(BUSINESS WIRE)--MassMutual Ventures (MMV) announced today that it has launched a new $100 million fund to invest in early and growth-stage companies across the U.S. in the climate technology sector. The MMV Climate Tech Fund (CTF) will make investments in 15 to 20 technology companies that address the sources of climate change and provide solutions for managing its impact on individuals, businesses, and communities.
“Climate change represents a challenge to the world economy of unprecedented urgency and scale, leaving no industry or business process unaffected. Meeting this challenge will require an equally unprecedented level of commercial ingenuity and innovation,” said Karl Beinkampen, MMV Managing Director, who will co-lead the MMV Climate Technology Fund. “We believe there is a growing investment opportunity to support the companies and founders who are building solutions to mitigate, measure and manage climate change. MMV’s investment capabilities, access to fund and founder networks and early-stage business expertise will enable the next generation of climate innovators to scale over time while creating a more sustainable future.”
With this new fund, MMV will manage over $1 billion in investment capital – including the funds managed by its other Boston-based team and Europe and Asia-Pacific (APAC) team investing in digital health, financial technology, enterprise SaaS, and cybersecurity companies across the globe. Following its new fund and geographic expansion announced earlier this year, MMV’s Europe and APAC team also considers investment opportunities in the climate tech sector in Europe and the APAC region.
“We look forward to building on the success the MMV fund family has achieved over the past eight years as we launch this new fund focused on a critical and rapidly growing sector,” said Doug Russell, who has served as Managing Director and Head of MassMutual Ventures since its formation in 2014. “While we will concentrate on the climate tech sector, we will primarily target investments in undercapitalized markets that have the potential to generate strong investment returns and drive the breakthrough innovations that are needed to decarbonize the world.”
About MassMutual Ventures
MassMutual Ventures (MMV) is a multistage global venture capital firm with teams based in Boston, Singapore, and London, managing over $1 billion in investment capital. We help accelerate the growth of the companies we partner with by providing capital, connections and advice. With our deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. For more information, visit www.massmutualventures.com.
Media:
Chelsea Haraty
413‐426‐2008
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AVANGRID’s Net Zero Strategy reflects strong commitment to carbon neutrality and support for the energy transition
ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company and member of the group of companies controlled by Iberdrola, S.A., is furthering its industry-leading Environment, Social and Governance (ESG) commitments by expanding its carbon neutrality targets. The company is now targeting to reach carbon neutrality in scopes 1 and 2 by 2030 and is developing a strategy to address scope 3 emissions. AVANGRID is one of only three U.S. energy company peers to set 2030 carbon neutrality goals and is one of the few major U.S. utilities to align with the country’s target to decarbonize the U.S. power sector by 2035.
AVANGRID’s announcement comes on the heels of Iberdrola reaffirming last week its target to become carbon neutral by 2030 in scopes 1 and 2 and reaching Net Zero in all 3 scopes by 2040. Iberdrola also announced that it has approved near and long-term science-based emissions reduction targets with the Science-Based Targets initiative (SBTi) and SBTi has verified Iberdrola’s net-zero science-based target by 2039. As a member of the Iberdrola Group, AVANGRID’s scopes 1 and 2 carbon neutrality targets are a critical part of Iberdrola’s Climate Action Plan.
“As one of America’s most sustainable energy companies, our commitment to our ESG+F principles serves as the backbone of our business and puts us in the right place to address the need for more clean energy,” said Pedro Azagra, CEO of AVANGRID. “We also benefit from the expertise of the Iberdrola Group, who is a global leader in ESG and whose targets have been verified by SBTi, and we are following in their footsteps. Our sustainability goals have continued to evolve since 2017, when we became the first U.S. utility to commit to carbon-neutral goals and set our target to reach generation carbon neutrality by 2035. We’ve strengthened our emissions goals and social commitments, laid the groundwork to transition our fleet to cleaner energy vehicles, committed to increasing our purchases with diverse suppliers and more. We not only continue to evolve and accelerate our commitments, but also have innovative initiatives underway to meet our goals.”
ESG factors have been an integral part of the Iberdrola strategy for the last two decades, to the extent that it has now become an established leader in ESG+F, supporting environmental, social and governance aspects and financial strength. Likewise, AVANGRID has a forward-looking ESG+F strategy that informs the company’s business decisions, helps further its sustainability commitments, and creates long-term, sustainable value for its shareholders.
AVANGRID’s Net Zero Strategy reflects its strong commitment to carbon neutrality and support for the energy transition. In line with its recent announcement, the company’s immediate focus is on reducing emissions from scopes 1 and 2. Scope 1 emissions include all direct greenhouse emissions from sources that are owned or controlled by AVANGRID, including power generation facilities, offices and other facilities, and fleet vehicles. Scope 2 emissions include indirect greenhouse emissions associated with the generation of purchased energy consumed by the AVANGRID.
To reach carbon neutrality in scopes 1 and 2 by 2030, AVANGRID plans to:
In addition to announcing its industry-leading carbon neutrality targets, AVANGRID also expanded its commitment to gender diversity. In 2021, the company signed on to the Paradigm for Parity, which has a goal of achieving 50% women in senior leadership positions by 2030. AVANGRID has set an additional goal of having 35% women in executive positions by 2025.
“AVANGRID has and continues to demonstrate leadership in all aspects of ESG,” said Laney Brown, Vice President of Sustainability at AVANGRID. “We analyzed a select number of our ESG goals against our peer’s, and the breadth and depth of our ESG commitments in comparison demonstrates our ESG leadership and reflects our unique ESG position. We are demonstrating that clean energy is not just a beneficial outcome for the environment and society, but an opportunity to help people and communities participate in the clean energy transition through new jobs, and for leading companies like ours to make critical and strategic investments.”
AVANGRID has earned numerous recognitions for its ESG efforts, including being named among the world’s most sustainable companies by S&P Global for two consecutive years, being recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies, being named among the World’s Most Ethical Companies for four consecutive years and being included in the FTSE4Good Index Series for five consecutive years.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
Forward Looking Statements
Certain statements in this release may relate to our future business and financial performance and future events or developments involving us and our subsidiaries that are not purely historical and may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as “may,” “will,” “should,” “would,” “could,” “can,” “expect(s),” “believe(s),” “anticipate(s),” “intend(s),” “plan(s),” “estimate(s),” “project(s),” “assume(s),” “guide(s),” “target(s),” “forecast(s),” “are (is) confident that” and “seek(s)” or the negative of such terms or other variations on such terms or comparable terminology. Such forward-looking statements include, but are not limited to, statements about our plans, objectives and intentions, outlooks or expectations for earnings, revenues, expenses or other future financial or business performance, strategies or expectations, or the impact of legal or regulatory matters on business, results of operations or financial condition of the business and other statements that are not historical facts. Such statements are based upon the current reasonable beliefs, expectations, and assumptions of our management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Important factors are discussed and should be reviewed in our Form 10-K and other subsequent filings with the SEC. Specifically, forward-looking statements include, without limitation:
Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may vary in material respects from those expressed or implied by these forward-looking statements. You should not place undue reliance on these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this report, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Other risk factors are detailed from time to time in our reports filed with the SEC, and we encourage you to consult such disclosures.
Sarah Warren
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585-794-9253
Project GodJira and Danny Cole’s Creature World have joined Flowcarbon’s climate positive decentralized art collection, Flow3rs, in order to offset their historical emissions.
NEW YORK--(BUSINESS WIRE)--Flowcarbon, a leading climate technology company creating carbon reduction and removal solutions, announced today the addition of two leading digital art projects, Project GodJira (PG) and Danny Cole’s Creature World, to its climate positive decentralized art collection, Flow3rs. Flow3rs is Flowcarbon’s newly launched collection of 200 works of unique digital art, a significant portion of which will go toward retiring carbon offsets from nature based projects around the world. To offset historic and current emissions from their decentralized art collections and more, Creature World and PG will acquire a commensurate number of carbon credits, which will be offset, on-chain by Flowcarbon.
PG, a unique community driven NFT project and industry leader, has built a community of over 7,000 holders and has created a launch-pad and network to support other NFT projects. In partnership with Flowcarbon, PG will offset more than 700 tons of carbon emissions to become carbon negative and advise other Web2 and Web3 projects on how to offset their emissions in both their NFT and real-world operations.
“As the industry is moving towards becoming more sustainable, this is an opportunity to continue the momentum and encourage NFT projects to offset even more emissions than they are responsible for,” said Shan, PG’s co-founder. “In the post-Merge world, we look forward to continuing to partner with Flowcarbon to have a positive impact on the environment and a better reputation for the NFT community.”
Creature World, an immersive art project and experience started by NYC-based artist Danny Cole, created a popular community around a collection of 10,000 unique pieces of digital artwork. Its blockchain transactions, at about 600 tons of carbon emissions, will be offset in this partnership along with the emissions from Creature World’s live events and art installations. Cole is known for creating magical experiences with his art, and his Creature World collection has sold over $120 million worth of digital art, attracting an engaging community of passionate collectors.
“Creature World’s mission is about making our experience of life magical and that means ensuring that future generations will be able to experience life as we are able to,” said Danny Cole.
The partnership with PG and Creature World illustrates the ability of blockchain technology to unlock and rapidly multiply social impact for Web3 projects, harnessing the power of Web3 to unite communities, artists and collectors around the shared goal of fighting climate change through meaningful art.
“Blockchain has the power to catalyze change for climate action and right the environmental wrongs of legacy proof-of-work systems,” said Dana Gibber, CEO at Flowcarbon. “As the technology becomes more sustainable, NFT projects have the opportunity to not just become carbon neutral, but to support the environment by becoming carbon negative and making a real-world impact.”
Check out Flow3rs.io for more information about the Flow3rs collection.
About Flowcarbon
Flowcarbon is a pioneering climate technology company that brings carbon credits onto the blockchain. Its mission is to make carbon markets accessible and transparent, enabling the efficient and early flow of capital to be invested directly into projects that combat climate change. Flowcarbon is committed to driving real impact for people, biodiversity, and the planet. To learn more about our work visit our blog.
About Creature World
In 2017, visual artist Danny Cole created The Creature World, a magical realm that seeks to take collectors on limitless expeditions by means of visual art, live experiences, and community projects. Each experience has brought hundreds to thousands of attendees into a unique iteration of the Creature World. In August 2021, Cole released 10,000 unique artworks of his signature character, The Creature, paired with an innovative ongoing digital experience. In the time since, these artworks have seen a trading volume of over $120 million. While the digital collection of 10,000 Creature portraits has thrust Creature World into the limelight with mind-boggling sales figures, this experience will open the door for a different type of art and has galvanized a whole movement among its community. Each experience has brought hundreds to thousands of attendees into a unique iteration of the Creature World.
About Project GodJira
PG is a unique community driven NFT project with a diverse set of revenue streams that align with a core set of values, including transparency, integrity, and generosity which they promote amongst their community members. They are the innovators of the NFT space, with a track record of generating and executing new ideas that bring utility back to the community. From their existing and future revenue streams, 100% of all mint and secondary proceeds go to the community vault overseen by our council. These funds are actively managed to leverage their reach within the Web3 space and provide the war chest needed to continue pushing the boundaries of this space and blurring the dichotomy between Web2 and Web3.
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HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY), ("Crescent" or the "Company"), today announced that representatives of the Company will be participating in the BofA Global Energy Conference in Miami, Florida on November 17, 2022.
The accompanying slide presentation will be available on the Company’s website under https://ir.crescentenergyco.com/events-presentations/.
About Crescent Energy Company
Crescent is a well-capitalized, U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states and substantial cash flow supported by a predictable base of production. Crescent’s core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy management has employed since 2011. The Company’s mission is to invest in energy assets and deliver better returns, operations and stewardship. For additional information, please visit www.crescentenergyco.com.
Company Contact
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Emily Newport
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PORTLAND, Ore.--(BUSINESS WIRE)--Western Machine Works LLC, an engineering-focused equipment service and maintenance provider based in Portland, Oregon is recognized as Top Manufacturing Company by the Portland Business Journal for its annual Top Makers & Manufacturers Award. Western Machine Works joins a distinguished list of companies driving the Northwest region’s economy with excellence, productivity, and innovation, in the manufacturing sector.
Western Machine Works LLC was recognized for its outstanding services in the repair and refurbishing of critical equipment for industries that are vital to the Pacific Northwest’s economy, such as wind power, hydroelectric, marine, pulp & paper, advanced recycling, and transportation. Some notable projects include repair and refurbishing support for wind repowering projects, natural gas pollution control modifications, and hydro power plant upgrades.
Operating in its 34,000 sq. ft. facility, the company is set to increase its equipment capacity and staff hiring to accommodate its growing business. The company has not experienced any layoffs even in downturns and continues to provide Cost of Living Adjustment contributions annually to all its employees.
Manufacturing continues to account for a higher employment share in Oregon at 9.9% compared to 8.4% nationally.
About Western Machine Works LLC:
Western Machine Works LLC was founded in 1985 in Portland, Oregon, specializing in engineering-focused equipment repair, upgrades, and manufacture of heavy machinery, including large precision components for wind, hydro, marine, pulp & paper, and other critical industries.
Visit www.westernmachine.com for more information.
Greg Allen
503-286-7791
Benchmarking capabilities now available in-platform enable clients to compare ESG data against industry averages and identify opportunities for improvement
Benchmarking tools offer an unprecedented view of ESG performance in private markets
NEW YORK--(BUSINESS WIRE)--Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective Environmental, Social and Governance (ESG) data management solutions, today announced the launch of wide-ranging benchmarking capabilities in-platform to enable Novata clients to contextualize their ESG data and see how they compare relative to industry peers. Novata clients will have access to anonymized industry data that will offer an unprecedented level of detail of ESG performance in private markets.
Backed by a consortium that includes the Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network, and with the support of more than a dozen private equity firms and pension funds, Novata is the leading ESG data management platform built specifically for the private markets. The Novata platform provides customers with a clear on-ramp for selecting ESG metrics, painless data collection and data insights and analytics tools to inform investment decisions.
Benchmarking ESG metrics helps Novata clients track progress and set well-informed goals. Novata’s in-platform benchmarks are created by aggregating data tracked by relevant peers. Novata’s benchmarking capabilities are powered by thousands of data points drawn from private and public companies; however, all data remains strictly anonymized to ensure data points cannot be associated with specific companies.
“The Novata platform seeks to meet the needs of companies across the ESG reporting spectrum. The first step along the journey is collecting your firm’s ESG data. After companies finish reporting, we have seen that interest quickly shifts towards understanding how the company compares to a relevant peer set,” said Lorraine Spradley Wilson, Chief Impact Officer and Head of ESG at Novata. “Novata firmly believes that benchmarking is a powerful indicator of ESG progress - it enables reporting firms to drill down into performance gaps and to identify areas for improvement. Benchmarking also provides important contextualization to what the data means across a range of dimensions.”
Since Novata’s successful platform launch in April, Novata has welcomed a range of private equity and credit firms to the General Partner Advisory Committee (GPAC) and has experienced significant global demand for its ESG data management platform.
“While every business is unique and no two companies will follow the exact same path to integrating ESG into operations, our benchmarking capabilities offer Novata clients a credible starting point for measuring their progress,” said Owen Riddall, Chief Product Officer and Co-Founder at Novata. “By using benchmarks to put your data in context, you’ll be better able to understand and prioritize your ESG risks.”
To learn more about Novata’s platform offerings and to schedule a demo, please see here: https://www.novata.com/
About Novata
Novata is a public benefit corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata ESG solutions, technology platform and contributory database simplify the processes of selecting reporting metrics; collecting and storing relevant data; conducting analysis; and reporting to key stakeholders, including limited partners and regulators. Novata, a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network, is majority controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.
Katie Stueber
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PITTSBURGH--(BUSINESS WIRE)--The Wabtec Foundation, the philanthropic arm of Wabtec Corporation (NYSE: WAB), today announced a donation of $25,000 to support local relief efforts in Florida following Hurricanes Ian and Nicole. The donation is being made to the Red Cross.
“We are an active community member in Florida and are committed to supporting those in need where our employees live and work,” said Nicole Theophilus, Chief Human Resource Officer for Wabtec. “The back-to-back nature of these recent hurricanes left our community members in Florida hurting and without the basic services we depend on every day. Thousands of Florida residents continue to deal with the lingering effects of these storms. The Red Cross is the ideal partner to support as they help the impacted communities get back on their feet.”
Wabtec has approximately 700 employees across multiple sites in Florida. Most of Wabtec’s employees are in Jacksonville and Melbourne.
For more than 140 years, the Red Cross has been on the scene supporting those in need following natural disasters. Since Hurricanes Ian and Nicole, the Red Cross has had thousands of volunteers providing meals, shelters, and supplies to the impacted region.
About Wabtec
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.
Tim Bader
682-319-7925
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New BYOCHAR™ Technology Debuting in Select Markets in 2023, Marking a Major Milestone in Helping Solve the Global Landfill Dilemma
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--DYPER™, the responsible diapering company, has become the first diapering company in the world to successfully “char” a diaper with its BYOCHAR™ technology.
With this innovation, DYPER enters the biochar economy by turning soiled diapers into biochar. Biochar is a carbon-rich product created through a heating process called pyrolysis, which allows for waste to be transformed into a reusable commodity that can improve soil, assist in air and water purification, and be an additive to paints and inks for improved pigment.
With the average child using around 3,700 disposable diapers and more than 27 billion of them ending up in U.S. landfills each year, diapers rank as the third leading contributor to the nation’s landfills by mass, taking up to 500 years to break down.
Debuting in 2023, BYOCHAR reactors will be located in select markets. When in place, DYPER will be able to reduce landfill waste and lessen overall global greenhouse gas emissions by transforming something as environmentally hazardous as a used diaper into something that can ultimately have a carbon-neutral footprint on the planet, without the use of offsets.
BYOCHAR is the latest environmental innovation from DYPER. A leader in the premium disposable diaper category with its diapers constructed with plant-based materials and made without harmful ingredients, DYPER’s landfill avoidance program REDYPER™ has already diverted more than 11.5M pounds of waste from landfills, turning their used diapers and wipes into nutrient-rich topsoil that is used in large-scale landscaping, roadside plantation, and growing sod. As BYOCHAR technology is deployed, the process of composting will be gradually replaced in the REDYPER program.
“While there are no silver bullets to solving the plastic diaper dilemma, we feel it is our obligation to continuously look for solutions,” said Sergio Radovcic, Founder and CEO of DYPER. “We’ve started with composting, fully aware of the inherent difficulties of doing it at scale. With this innovation, we will bring modular disposal technology to complement or replace composting closer to the consumers, reducing processing and transfer times. We’re excited to see our work turn waste into something more helpful to our planet.”
The Benefits of BYOCHAR
Biochar technology is not new, but until now, has not been used to combat the disposable diaper waste problem. Additional benefits of the technology include:
In the future, BYOCHAR may be compatible with other diaper brands, which would effectively end diaper waste altogether (4% of solid waste) but is not compatible with non-DYPER products today. BYOCHAR may eventually generate carbon credits and possibly, sell credits on the trading markets.
DYPER products are made without chlorine, latex, alcohol, lotions, TBT, and Phthalates. They're unprinted, unscented, soft to the touch, yet extremely durable and absorbent, and made with plant-based materials such as viscose from Bamboo.
DYPER products are available at DYPER.com, as well as at select online and brick-and-mortar retailers including Amazon, Babylist, Grove Collaborative, Thrive Market, Whole Foods Market, and Walmart.
About DYPER™
DYPER, a Certified B Corp, is the responsible diaper company that never stops asking “Y.” From the obvious, “Why can’t diapers use more plant materials?” to “Why do diapers have to end up in landfills?” DYPER offers products made with plant-based materials that are soft and absorbent with a focus on transparency, environmental offsets, and independent testing. Used DYPER diapers and wipes can be responsibly disposed of through their optional REDYPER™ service. DYPER diapers are a certified 55% USDA BioPreferred product, certified Standard 100 by OEKO-Tex®, clinically-tested and awarded a 5-star Dermatest® rating. The wood pulp used is certified by the Forest Stewardship Council and viscose from Bamboo is OEKO TEX STeP certified, verifying compliance with globally standardized criteria in all areas of sustainable manufacturing, including safety, environmental and chemical management and efficient use of resources. Learn more at DYPER.com.
Media Contacts
Famous Last Words PR
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The long-term, multi-level partnership between Sakuu and LiCAP Technologies will accelerate Sakuu’s development of a high-throughput, cost-effective, additive manufactured battery line for best-in-class solid-state batteries with ultra-high energy density.
SAN JOSE, Calif.--(BUSINESS WIRE)--Sakuu, innovator of Swift Print™ solid-state battery technology, today announces that it has entered a memorandum of understanding (MOU) with LiCAP Technologies, Inc. (“LiCAP”) a leader in sustainable and scalable electrode coating solutions. Under the MOU, the two companies will partner to establish best practices for end-to-end development and the reliable commercial supply of premium electrodes for Sakuu’s additive manufactured (AM) solid-state battery technology.
Through this partnership, Sakuu plans to license LiCAP’s novel and proprietary battery electrode technology. Further, LiCAP plans to provide high-performance electrodes for Sakuu’s anticipated at-scale solid-state battery production needs, and to co-develop Sakuu’s next generation ultra-high energy density batteries.
“We are pleased to have established this relationship with LiCAP towards introducing and commercializing sustainably printed solid-state batteries,” said Arwed Niestroj, SVP of Customer Enablement at Sakuu. “LiCAP’s electrodes can substantially increase energy and power performance of Sakuu’s battery cells. Its innovative and cost-effective electrode technology can further promote performance, cost-savings, and product recyclability across our planned AM solid-state battery line.”
LiCAP’s novel electrode solution is anticipated to become an important component of Sakuu’s AM-produced battery line. Sakuu is developing cost-effective and safe ultra-high energy density solid-state batteries that can be printed in custom shapes and sizes and are anticipated to be 50% smaller and 30% lighter compared to established roll-to-roll manufacturing processes.
“We are extremely impressed with Sakuu’s AM battery manufacturing concept and see many synergies with our sustainable and cost-effective electrode platform. Sharing sustainability and performance goals with Sakuu will ensure long-term mutual growth,” said Linda Zhong, President of LiCAP Technologies. “We are excited that a company which we believe is on the verge of becoming a significant driver of product and process innovation in the energy storage space is working with our technology for their game-changing solid-state battery concept.”
Manufacturing scalability is widely considered one of the biggest challenges faced by developers of solid-state batteries today. Sakuu’s anticipated cost-effective, ultra-high energy density, safe, solid-state batteries—that could be printed in custom shapes and sizes—introduces a new paradigm in the energy storage space.
About Sakuu
Sakuu is reinventing large-scale, sustainable battery technology and manufacturing. Sakuu’s breakthrough solid-state battery cells are anticipated to deliver best-in-class performance, safety, and customizability in a recyclable format. Sakuu’s batteries will be produced by Sakuu’s transformative Kavian™ platform in gigafactory settings, which enables rapid, additive manufactured, high-volume, low-cost, and sustainable battery production to meet mass-market demand. Sakuu operates two facilities in Silicon Valley, California, where it is headquartered: a solid-state battery pilot line facility and a battery printing and engineering facility.
To learn more, visit www.sakuu.com
About LiCAP
LiCAP is a leading developer of the world’s most sustainable and cost-effective electrode manufacturing platform that will be a game changer for developers of solid-state batteries, lithium-ion batteries, lithium-ion capacitors, and ultracapacitors. LiCAP’s core technology, Activated Dry Electrode™, removes toxic NMP solvent from manufacturing, removes drying step and solvent recovery from electrode materials processing, reduces capital equipment, enables direct recycling of electrode scrap materials, and produces premium electrodes with ultra-high energy density and fast charging capability.
Co-founded and led by the original inventor of the “dry electrode” technology, LiCAP is headquartered in Sacramento, California and operates the world’s fastest commercial dry coating line for ultracapacitor manufacturing and a pilot line for lithium-ion battery manufacturing.
To learn more, visit www.licaptech.com
Sakuu Contacts:
Pal Hollywood
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Two RHB models are commercially available today for companies aiming to rapidly reduce fuel costs and eliminate scope 1 & 2 emissions
ALAMEDA, Calif.--(BUSINESS WIRE)--Rondo Energy, a leading provider of zero-carbon industrial heat, today announced commercial availability of two models of its revolutionary Rondo Heat Battery (RHB), the RHB100 and RHB300.
The Rondo Heat Battery (RHB) captures intermittent electricity, stores the energy from that electricity as high-temperature heat in brick materials, and delivers the stored energy on demand as high-temperature heat and/or electricity. The RHB stores heat energy at temperatures up to 1500°C for hours or days — delivering zero-carbon heat for processes ranging from steel, cement, chemical manufacturing, and all the way to low-temperature food processing.
The RHB meets the demanding needs of industry for safe, simple, low-cost energy and economically replaces fuel-fired furnaces and boilers—unlocking energy prices for America’s industries that are both affordable and more predictable. When connected to the grid, the RHB can make use of otherwise curtailed solar and wind energy, cut the cost of clean energy, and strengthen grid stability and security. Rondo is manufacturing its heat batteries in its facilities in California and has begun commercial deliveries.
RHBs are easily integrated into facilities alongside existing process heating equipment, delivering large-scale emissions reductions without a facility overhaul. The heat battery models available today are designed for a wide range of industrial uses and directly replace the operation of fuel-fired boilers, furnaces and kilns. Both models are fully automatic, charge intermittently either from local wind or solar facilities or from the grid, and deliver heat on demand 24 hours a day.
Rondo’s unique thermal core uses brick materials that have been producing steel for over a century in a new patented configuration. Charging in as little as four hours, Rondo’s patented “brick toaster” rapidly and uniformly heats these brick materials to deliver continuous, constant temperature heat, 24 hours a day.
Applications and Industries
From food processing to fuel production, from cogeneration to calcination, the RHB delivers energy in the form needed for more than 90% of the world’s industrial process heat. RHBs are easily configured to serve the unique capacity and temperature requirements of each facility. The RHB units announced today are direct drop-in replacements for large industrial boilers.
Rondo’s simple, low-cost technology delivers unique value in these key areas:
Rondo Heat Batteries enable a simple, practical switch to zero-emission electricity as the source of continuous high-temperature heat for processes across a range of industries, including steel, cement, chemical, pharmaceutical, low-carbon fuels, food and beverage, and mining industries. Unlike electric furnaces or electric boilers, Rondo Heat Batteries are a load that follows the available renewable generation, being dispatched by the grid operator or the renewable energy fields to charge but delivering consistent firm heat to the industrial facilities.
As a result, RHBs deliver electrification at the absolute lowest cost and create no additional peak loads on the electricity grid, while enabling the integration of more renewable electricity generation. Rondo Heat Batteries maintain continuous output power (95% annual capacity factor) while operating on input power as low as 15% capacity factor (4 hours a day).
Beyond direct industrial heat supply, the RHB is a least-cost source of energy for other applications, including district heating and combined heat and power, providing 24/7 clean heat and power.
Rondo SVP Jeremy Keller said, “Rondo’s mission is simple: lower cost heat and energy for large industrial processes. We’ve been excited by the work now underway with key customers. We’re finding that deep emission reductions are now both practical and affordable for many of the world’s most energy-intensive facilities. Our studies of customer facilities are showing 50% to 90% reductions in emissions and reductions in operating costs of 30% or more.”
Rondo Heat Batteries deliver large, concentrated, permanent emissions reductions and provide an immediate, low-cost, practical way to repower the giant industrial heat market. A single RHB300 eliminates more than 40,000 tons CO2 per year-- more than is eliminated by 8,700 electric vehicles. Replacing just the industrial heat used today in California with RHB zero-carbon heat would eliminate five times more CO2 than all of the EVs on the road in the US today (13.6M EVs).
“With early manufacturing now underway, Rondo is open for business. We’re thrilled to be announcing the launch of the RHB100 and RHB300 and look forward to serving our customers with first installations in 2023,” said Rondo CEO John O’Donnell.
“The Rondo Heat Battery could prove critical to eliminating emissions, and its commercial availability will help companies turn to its zero carbon heat for their processes,” said Carmichael Roberts, Breakthrough Energy Ventures. “The Rondo Heat Battery will help companies in industries such as cement, fuels, food and water desalination to begin leveraging the falling costs of renewables without modifying their facilities.”
To download the RHB datasheet or to configure and purchase an RHB for your facility, get started on our website at rondo.com/products.
Rondo Energy is backed by Bill Gates-founded Breakthrough Energy Ventures and utility-backed Energy Impact Partners.
About Rondo Energy:
Rondo Energy, the leading provider of zero-carbon industrial heat, makes industrial decarbonization possible — and profitable — today. The Rondo Heat Battery captures low-cost renewable electricity and delivers continuous high-temperature heat, enabling customers to power their operations with zero-carbon energy. Learn more at rondo.com/products.
About Breakthrough Energy Ventures
Founded by Bill Gates and backed by many of the world’s top business leaders, BEV has raised more than $2 billion in committed capital to support cutting-edge companies that are leading the world to net-zero emissions. BEV is a purpose-built investment firm that is seeking to invest, launch and scale global companies that will eliminate GHG emissions throughout the economy as soon as possible. BEV seeks true breakthroughs and is committed to supporting these entrepreneurs and companies by bringing to bear a unique combination of technical, operational, market and policy expertise.
BEV is a part of Breakthrough Energy, a network of investment vehicles, philanthropic programs, policy advocacy and other activities committed to scaling the technologies we need to reach net-zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
About Energy Impact Partners
Energy Impact Partners, LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of nearly 60 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and Oslo. For more information about Energy Impact Partners, please visit www.energyimpactpartners.com.
Maddie Coe
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