VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQX: EVGIF), is pleased to announce that it has signed a definitive agreement with its existing lender, Roynat Capital (a subsidiary of The Bank of Nova Scotia) (“Roynat”) and Export Development Canada (“EDC”) for a $31 million syndicated senior term loan (the “Facility”). Roynat and EDC are each providing for 50% of the proceeds from the Facility.
“This milestone provides greater certainty for EverGen moving forward. Executing the debt facility with Roynat and the EDC is an essential piece of our funding strategy as we push forward with our core expansion projects which will deliver 480,000 GJ of RNG annually.” said Chase Edgelow, CEO of EverGen.
Term Loan
The Facility will be used to support the upgrade and construction of EverGen’s Renewable Natural Gas (“RNG”) facilities and provides for $15 million for refinancing of existing debt and construction at Fraser Valley Biogas (“FVB”) and $16 million at Net Zero Waste Abbotsford (“NZWA”). The Company anticipates the first additional draw on the Facility in early-2023 to finance a portion of the FVB RNG Expansion project currently under construction.
The Facility is a five-year senior term loan with a 10-year amortization period and interest only payments for the first 12 months. The Facility is secured by assets of the Company and is subject to the completion of financing terms and conditions as included in the Offer of Finance filed on SEDAR. The Facility bears interest at a rate of the Canadian Variable Rate + 3.0 to 4.0% based on achieving certain EBITDA targets.
“EDC welcomes the opportunity to participate in EverGen’s growth and supports the Company as they expand their renewable energy infrastructure in Canada and abroad” said Anna Pipin, Global Accounts Director at EDC.
“This is a very exciting time for EverGen as they continue the build-out of their RNG infrastructure platform in Canada, and we are excited to be participating in the growth of the industry,” said Derek Strong, Managing Director from Roynat.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future. Headquartered on the West Coast of Canada, EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
EverGen Investor Contact
Victoria Rutherford
480-625-5772
This email address is being protected from spambots. You need JavaScript enabled to view it.
The Microturbine Powered Combined Heat & Power (CHP) System for the Textile Finishing Company Will Be the First of Its Kind in Germany
The Offshore Systems Are a Repeat Order for an Existing Capstone Customer
LOS ANGELES--(BUSINESS WIRE)--$CGRN #CleanPower--Capstone Green Energy Corporation (NASDAQ: CGRN), announced that E-quad Power Systems GmbH, Capstone’s long-time distributor for Belgium, Denmark, Germany, and the Netherlands, has secured two new orders. The first is an order for a C200S microturbine-based combined heat and power (CHP) system for a leading textile finishing company. The second order is for four 65kW high-pressure natural gas (HPNG), dual mode (DM), high humidity offshore systems for an offshore gas production company with assets in the North Sea that is a loyal Capstone customer.
The C200S microturbine-based CHP system is for leading textile finishing company Gerhard van Clewe GmbH & Co.KG, based in Hamminkeln, Germany. The system is expected to be commissioned in May 2023 and will be fueled by high-pressure natural gas. The C200S will provide up to 200kW of electricity to the plant, while the exhaust produced by the microturbine will be captured for use in the material drying process as well as the production of warm water for the facility.
The company first considered microturbine technology due to rising electricity costs compared to the low cost of natural gas. As a company with a sustainability mission, they also valued the high efficiency and emissions reduction that a CHP system delivers.
“Between the cost savings and environmental benefits, we are especially excited to be a development partner in this first-of-its-kind application,” said Ansgar van Clewe, Principle at Gerhard van Clewe. “Given the technology’s ready availability and Capstone’s good reputation in the space, we felt comfortable working with their distributor E-quad Power Systems.”
The four C65 offshore systems will be deployed with an existing Capstone offshore gas exploration customer who is an advocate for sustainable energy sources. They strongly believe that until there are sufficient sustainable alternatives available, the use of natural gas is an effective method to reduce CO2 output immediately. Natural gas can therefore provide an optimal contribution towards providing climate neutral energy.
“The Capstone Green Energy microturbine-based CHP systems have proven time and again to be tremendously beneficial across the manufacturing space, providing reliable, highly efficient power, but also fulfilling facility heating, drying and cooling needs, which has the added benefit of lowering facility emissions,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy.
“Capstone's green energy solutions align perfectly with the needs of the oil and gas industry and are currently used in all phases of production, including upstream, midstream, and downstream operations in both onshore and offshore applications. Capstone's technology provides the low operational cost, high availability, and high-reliability global energy producers need, particularly in a world where energy prices are not likely to be dropping any time soon,” concluded Jamison.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
This email address is being protected from spambots. You need JavaScript enabled to view it.
ALEXANDRIA, Va.--(BUSINESS WIRE)--VSE Corporation (NASDAQ: VSEC), a leading provider of aftermarket distribution and maintenance, repair and overhaul (MRO) services for land, sea and air transportation assets for government and commercial markets, announced that the Company’s Board of Directors has declared a regular quarterly cash dividend of $0.10 per share of VSE common stock. The dividend is payable on February 9, 2023 to stockholders of record at the close of business on January 26, 2023.
ABOUT VSE CORPORATION
VSE is a leading provider of aftermarket distribution and repair services for land, sea and air transportation assets for government and commercial markets. Core services include MRO services, parts distribution, supply chain management and logistics, engineering support, and consulting and training services for global commercial, federal, military and defense customers. VSE also provides information technology and energy consulting services. For additional information regarding VSE’s products and services, visit www.vsecorp.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements. These forward-looking statements, which are included in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause VSE’s actual results to vary materially from those indicated or anticipated by such statements. Many factors could cause actual results and performance to be materially different from any future results or performance, including, among others, the risk factors described in our reports filed or expected to be filed with the SEC. Any forward-looking statement or statement of belief speaks only as of the date of this press release. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INVESTOR RELATIONS CONTACT: Noel Ryan | 720.778.2415 | This email address is being protected from spambots. You need JavaScript enabled to view it.
SAN ANTONIO--(BUSINESS WIRE)--EnCap Flatrock Midstream (“EnCap Flatrock”), a midstream energy investment manager, today announced the promotion of Brett Knowles to managing director from vice president.
“In Brett’s 10 years with our firm, he has assisted with the formation of many new portfolio companies, helped execute several of the largest transactions in EnCap Flatrock’s history and has grown tremendously in his role,” said EnCap Flatrock Managing Partner Sam Pitts. “Brett is an outstanding example of what it looks like to lead with humility, and he is a consummate team player. He has established himself as an integral part of the EnCap Flatrock investment team, and we are excited for this next chapter of his career.”
About Brett Knowles
Mr. Knowles joined EnCap Flatrock in 2013 and in that time has worked at all three of the firm’s office locations, first in Oklahoma City, then Houston and ultimately, San Antonio. He serves on the board of directors of several EnCap Flatrock portfolio companies, including Aspen Midstream, LLC; Clearfork Midstream, LLC; Edgewater Midstream, LLC; Elysian Midstream, LLC; Iron Horse Midstream, LLC; and Rangeland Energy III & IV, LLC. Mr. Knowles also serves as a member of the Dean’s Advisory Board of Mays Business School at Texas A&M University, is a CFA Charterholder and is an active supporter of the Marine Corps Scholarship Foundation.
Prior to joining EnCap Flatrock, Mr. Knowles worked in investment banking at Barclays. The EnCap Flatrock team worked closely with Mr. Knowles during his time as an analyst at Barclays where he supported the successful sale of Caiman Energy, an Encap Flatrock Fund I portfolio company, to Williams Companies in 2012. Mr. Knowles holds a Master’s degree in finance and a Bachelor of Business Administration degree in accounting, both from Texas A&M University.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Media:
Kelly Kimberly
FGS Global
This email address is being protected from spambots. You need JavaScript enabled to view it.
713.822.7538
GARDEN VALLEY, Texas--(BUSINESS WIRE)--Mercy Ships, the global, faith-based healthcare charity that through a fleet of first-class hospital ships provides free surgeries and healthcare services to the world’s most disadvantaged peoples, today announced that Gary Brown was elected Chairman of the Board of Directors of Mercy Ships International effective January 1, 2023.
Brown, who has served on the Mercy Ships board since 2006, spent 42 years in the banking and securities industry, most recently as CEO of CIBC FirstCaribbean International Bank Limited. Previously he was head of CIBC’s business in the United States, as President and CEO of CIBC World Markets Corp, their US broker-dealer for nine years. He holds a Bachelor of Science in business administration from Oral Roberts University and has attended executive programs at the Salzburg Institute and Harvard Business School. Brown also serves on the board of trustees of Oral Roberts University.
“Gary Brown was the only person nominated by the committee, a testament to our board’s unanimous confidence in his qualifications,” said Ruben Martin, head of the nominating committee and outgoing chairman. “We look forward to his leadership and his ability to keep moving the organization forward, especially in our season of growth as we operate a two-ship platform. We believe we’re poised to provide an even greater impact to the people of Africa.”
Martin brought to Mercy Ships four decades of business leadership experience and a deep knowledge of global business operations, especially in the marine sector and said that he felt truly honored to have served as Chairman of the Board. In total, he served 11 years on the International Board and will continue serving on the Mercy Ships Foundation Board. “I’m proud that the world’s largest and first purpose-built hospital ship was launched during my tenure and that it will begin surgeries in Africa early next year,” he said.
Brown commented, “Ruben Martin fulfilled his intended two-year commitment, overseeing significant growth in the organization, the return of the Africa Mercy® after a challenging season due to COVID-19 and the launch of our newest vessel, the Global Mercy®. It is a privilege for me to assume leadership at the board level working with our Founder, Don Stephens, and CEO Gert van de Weerdhof as we continue the work of Mercy Ships in bringing hope and healing to those who need it most.”
In 2023 Mercy Ships will provide ship-based care to three countries, Senegal, The Gambia and Sierra Leone, while continuing on-going partnerships with other countries in Africa.
ABOUT MERCY SHIPS:
Mercy Ships operates hospital ships that deliver free surgeries and other healthcare services to those with little access to safe medical care. An international faith-based organization, Mercy Ships has focused entirely on partnering with African nations for the past three decades. Working with in-country partners, Mercy Ships also provides training to local healthcare professionals and supports the construction of in-country medical infrastructure to leave a lasting impact.
Each year, more than 3,000 volunteer professionals from over 60 countries serve on board the world’s two largest non-governmental hospital ships, the Africa Mercy and the Global Mercy. Professionals such as surgeons, dentists, nurses, health trainers, cooks, and engineers dedicate their time and skills to accelerate access to safe surgical, obstetric, and anesthetic care. Mercy Ships was founded in 1978 and has offices in 16 countries as well as an Africa Service Center in Dakar, Senegal. For more information, visit mercyships.org and follow @MercyShips on social media.
Laura Rebouché
U.S. National Media Relations Director Mercy Ships
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.mercyships.org/press
International:
Diane Rickard
International Media Relations Manager
Mercy Ships
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.mercyships.africa/press
Report highlights Convergent’s plans to build an energy landscape that is less expensive, more reliable, and increasingly sustainable
NEW YORK--(BUSINESS WIRE)--Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the publication of its 2022 Sustainability and Impact Report. The report details Convergent’s strong progress toward advancing the clean energy transition through its Environmental, Social, and Governance (ESG) work and its goals for 2023—the first year in history with a federal Investment Tax Credit (ITC) for stand-alone energy storage following the passage of the Inflation Reduction Act (IRA).
“Being a good corporate citizen is core to Convergent’s identity. I’m proud of the progress we’ve made and excited for the path we have charted in our 2022 Sustainability and Impact Report,” said Johannes Rittershausen, Convergent’s CEO. “This report makes clear our commitment to continuous improvement and leadership in ESG, positioning Convergent as a strong partner for businesses and utilities that prioritize mitigating the climate crisis, community engagement, safety, ethical governance, and diversity, equity, and inclusion. Energy storage is the linchpin of the clean energy transition and we are proud to accelerate this transition together with our customers.”
Highlights of the 2022 Sustainability and Impact Report include:
In addition to its ESG commitments, Convergent has made significant progress in developing the energy storage solutions that create a more reliable, economical, and renewable-powered electric grid. The company has more than 500 MW/800 MWh of storage and solar-plus-storage capacity operating or under development, with more than $500M invested in projects in operation or allocated to projects under development.
“As we begin 2023, which is sure to be a landmark year for the future of energy, I am incredibly confident in our business and believe it is optimally positioned to meet this moment,” said Frank Genova, Chief Operating and Financial Officer. “We now have the regulatory certainty that is needed for the private sector to invest more heavily in the clean energy transition and Convergent will continue to hold a leadership role in the future of energy.”
About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $500M invested in or committed to projects in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.
Convergent Press Contact
Kate Siskel
SVP, Marketing and Communications
Convergent Energy and Power
ksiskel [at] convergentep.com
917-508-0274
SHANGHAI--(BUSINESS WIRE)--“The harvesting season of Chilean cherries nearly coincides with the Chinese New Year. I have a grand vision of replacing the new-year gift the Chinese take back home with Chilean cherries,” said Luis Schmidt Montes, former Chilean Ambassador to China. Statistics show that the cherries Chile exports to China now account for 90 percent of its total output, and the export scale has increased more than 10 times in the past decade.
A cargo ship fully loaded with over 4,300 tons of Chilean cherries arrived at Nangang port of Shanghai on Jan. 4 after traveling for more than 10,000 kilometers. The cherries soon appeared on the shelves of stores on the same day.
It was the first time for Eastern Airlines Logistics (EAL), a subsidiary of China Eastern Air Holding Co. Ltd (CEAH), to arrange a customized ship chartering for China's imports of Chilean cherries, and also marked the first reefer chartering for Chilean cherries of China's fruit industry.
The customized logistics solution, which transported cherries directly from Chile to China, greatly slashed the transportation time and the operation time at the port. Without a stop at a third destination port during sea transportation, the cherries were kept fresh at a constant temperature, which ensured the freshness of the fruits on arrival. Upon their arrival at the port, EAL delivered the cherries to stores using the FCL shipment, as many Chinese are busy preparing for the upcoming Chinese New Year these days.
By leveraging its strengths in the whole logistic chain, EAL started to ship cherries directly from Chile to China in 2013, and soon grew into the largest air cargo transport service provider for China's imports of Chilean cherries. It then went on to better cope with the cost and efficiency of the transportation of cherries, and came up with new modes such as sea air combined transport service and ship chartering service.
Thanks to the “cargo Silk Road” established by CEAH, the volume of Eastern Air Origin Express has expanded over 100 times. And over the years, EAL has made its due contributions to serving China's consumption upgrading and facilitating trade and win-win cooperation between China and countries along the route of the Belt and Road Initiative.
Company: China Eastern Airlines
Website: http://www.ceair.com/
Contact: fangying
TEL: 00862122331470
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
WASHINGTON--(BUSINESS WIRE)--Nodal Exchange announced today that it achieved record trading volumes in 2022 in both power and environmental markets.
Nodal achieved a record 2.4 billion MWh power futures volume traded in 2022, representing 8.3% growth over 2021. Nodal is the market leader in North American power futures having the majority share of the open interest with a record 1.1 billion MWh as of end of year 2022. The open interest represents over $133 billion of notional value (both sides).
Nodal, with its collaborator IncubEx, continued to grow trading in the environmental futures and options markets. Nodal achieved a record 280,603 lots of environmental futures and options volume traded in 2022, representing 13% growth over 2021. Nodal also set a calendar month environmental trading record in December with 32,642 lots, up 21% from 26,915 lots in December 2021. Nodal US environmental futures and options open interest at year end 2022 was 223,275 lots, up 31% from 170,770 at the end of 2021. Total notional value of environmental products traded on Nodal hit a new record of $2.1 billion in 2022.
In 2022, Nodal introduced new contracts in the voluntary and compliance carbon markets and first-ever products in renewable energy certificates and renewable fuel credits. The new listings pushed the number of environmental products offered on Nodal to more than 100, extending the largest suite of environmental products offered on any exchange.
“Nodal plays a key role in providing price, credit and liquidity risk management solutions to the markets we serve, and we appreciate the confidence of our trading community which resulted in significant growth in our power and environmental markets in 2022,” said Paul Cusenza, Chairman and CEO of Nodal Exchange. “As we begin the new year, we look forward to further developing all our markets and expanding our product portfolio in order to best meet the needs of the markets we serve.”
ABOUT NODAL
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts and the world’s largest set of environmental contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas and environmental contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC. For more information, visit www.nodalexchange.com
Nicole Ricard
Nodal Exchange Public Relations
P: 703-962-9816
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "North America Energy Transition Market Analysis by Sectors (Power, Electric Mobility, Renewable Fuels, Hydrogen and CCS/CCU) and Trends" report has been added to ResearchAndMarkets.com's offering.
This report addresses the status of clean energy transition in North America by looking through the lens of several sectors, namely power generation, electric mobility, renewable fuels, carbon capture, and clean hydrogen.
The energy transition in North America is gaining steam due to both the global momentum behind the sector and the Biden administration's support. Recent laws such as the Infrastructure Investment and Jobs Act, Inflation Reduction Act, and other initiatives are beginning to funnel billions of dollars into the sector and reduce the green premium on less developed technologies like green hydrogen and carbon capture.
Coal power generation is set to decrease to under 10% of the total share by 2030, with solar PV largely coming in as a replacement, as well as wind to a lesser extent. Gas will remain an important baseload power source throughout that period.
In 2021, EVs accounted for just 5% of US light vehicle sales, but rapid growth is expected during this decade. EVs are likely to take over 20% of sales by 2030, driven by government policies, tax credits, higher gasoline prices, and growing environmental consciousness.
The US has long been a global leader in ethanol production and use produced from corn. With advancement in renewable fuel technologies, other agricultural and waste products will be used to create fuels like renewable diesel and sustainable aviation fuel (SAF). Fifty-seven renewable refineries are in the pipeline across North America, and twenty-five are already in operation, representing a total production capacity of 11 billion gallons by 2030.
North America is one of the world's most active regions for carbon capture, accounting for 63% of global capacity in 2021. One hundred and fifty projects of varying size are in the pipeline to commence operations by 2030.
North America has seen plenty of activity in the low-carbon hydrogen space, including the announcement of the world's two largest projects in eastern Canada by Green Hydrogen International. At 43 mtpa capacity each, these two projects together account for more than half of the global active and pipeline capacity. In addition, North America is one of the most attractive regions for blue hydrogen due to abundant natural gas and favourable conditions for geological CO2 storage.
Scope
Reasons to Buy
Key Topics Covered:
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/2is8hi
Source: GlobalData
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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
RICHMOND, Calif.--(BUSINESS WIRE)--Raven SR Inc. (Raven SR), a renewable fuels company, Chevron New Energies, a division of Chevron U.S.A. Inc., and Hyzon Motors Inc. (NASDAQ: HYZN) today announced they are collaborating to commercialize operations of a green waste-to-hydrogen production facility in Richmond intended to supply hydrogen fuel to transportation markets in Northern California.
The facility will be owned by a newly formed company, Raven SR S1 LLC (Raven SR S1). Raven SR will be the operator of the facility, which is targeted to come online in the first quarter of 2024. Chevron holds a 50% equity stake in Raven SR 1. Raven SR holds a 30% stake and Hyzon owns the remaining 20%.
To produce the hydrogen, the project is expected to divert up to 99 wet tons of green and food waste per day from Republic Services’ West Contra Costa Sanitary Landfill into its non-combustion Steam/CO2 Reforming process, producing up to 2,400 metric-tons per year of renewable hydrogen. Diversion of this organic waste will help fulfill SB 1383 mandates, and will potentially avoid up to 7,200 metric-tons per year of CO2 emissions from the landfill. In addition, Raven’s technology uses no fresh water, an important element given drought risks in California, and uses less electricity to power its units than competing processes. The project is expected to produce at least 60% of its own electricity by upgrading the currently permitted and zoned landfill gas electric generators at the landfill, further reducing both the current air emissions and the need for grid power for its non-combustion process.
Chevron plans to market its share of the hydrogen in Bay Area and Northern California fueling stations, enabling the energy transition to zero emission vehicles. Hyzon, a global supplier of fuel cell electric commercial vehicles, plans to provide refueling for hydrogen fuel cell trucks at a hydrogen hub in Richmond.
"Our strategic partners’ commitment to the first non-combustion Steam/CO2 facility in the world will help drive our commercial operations in Richmond and accelerate similar facilities globally," said Matt Murdock, CEO of Raven. “This facility will be the first hydrogen production plant in the world to reduce greenhouse gases, including critically important short-lived climate pollutants, through its process and its product. By removing waste from the landfill, it will help reduce methane emissions. Not only will the greater Richmond community benefit from reduced emissions, investments, and jobs, it will also see economic benefits as local gas stations have a consistent supply of clean, zero-carbon hydrogen fuel for fuel cell vehicles. We are grateful to work with partners who share our mission to make cleaner fuel options available as soon as possible.”
Ahead of teaming with Raven SR on the Raven SR S1 facility, Chevron and Hyzon were among Raven SR’s initial strategic investors, along with ITOCHU, Ascent Hydrogen Fund and Samsung Ventures.
“We are excited about this collaboration and our expanded commitment to Raven and its waste-to-hydrogen technology,” said Austin Knight, vice president of Hydrogen for Chevron New Energies. “Not only are we positioned to commercialize a first-of-its-kind lower carbon hydrogen project, we are working to reduce emissions in a community in which we have a long and proud history. With a relatively short lead time, we will be able to further develop the hydrogen ecosystem in the region.”
The Raven SR technology is a non-combustion thermal, chemical reductive process that converts organic waste and landfill gas to hydrogen and Fischer-Tropsch synthetic fuels. Unlike other hydrogen production technologies, its Steam/CO2 Reformation does not require fresh water as a feedstock and uses less than half the energy of electrolysis. The process is more efficient than conventional hydrogen production and can deliver fuel with low to negative carbon intensity. Additionally, Raven SR’s goal is to generate as much of its own power onsite as possible to reduce reliance on, and/or be independent of the grid. Its modular design provides a scalable means to locally produce renewable hydrogen and synthetic liquid fuels from local waste.
“The Richmond hub enables a local, renewable hydrogen ecosystem by aligning hydrogen production, refueling infrastructure and vehicle availability geographically and technologically. This alignment is expected to reduce total costs to fleet operators, accelerating the transition to zero-emissions vehicles and global decarbonization,” said Parker Meeks, Hyzon president and interim CEO.
“This marks a significant step in demonstrating the commercial viability of a localized, low-to-negative carbon intensity hydrogen economy,” he added. “Through Hyzon’s partnership with Raven, hydrogen supply can be synchronized with the demand for hydrogen fuel cell electric vehicles. Raven’s deployment of scalable hydrogen production facilities allows supply and demand to grow together as clean hydrogen for transport continues to gain market and regulatory support.”
About Raven SR
Raven SR, headquartered in Wyoming, transforms biomass, mixed municipal solid waste, bio-solids, sewage, medical waste, and natural or biogas into renewable fuels. Using its proprietary, non-combustion, non-catalytic “Steam/CO2 Reformation” technology, Raven SR dependably produces a hydrogen-rich syngas regardless of feedstock utilized. Raven SR, led by co-founders Matt Murdock and Matt Scanlon, is committed to adding value to local resources and communities while responsibly reducing greenhouse gases and achieving a low carbon economy. By using modular systems and producing low air emissions, their systems can be located closer to customers and feedstock, creating local fuel from local waste for local mobility. Visit https://ravensr.com/.
About Chevron
Chevron Corporation (NYSE: CVX) is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
About Hyzon
Hyzon is a global supplier in fuel cell electric mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in the Netherlands, Australia, Germany, and China. Hyzon is an energy transition accelerator and technology innovator, providing end-to-end solutions in the transport sector with a focus on commercial vehicles and hydrogen supply infrastructure. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks and buses to customers in North America, Europe and around the world to mitigate emissions from diesel transportation, which is one of the single largest sources of carbon emissions globally. The Company is contributing to the escalating adoption of fuel cell electric vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Media Contacts:
Raven SR
Katharine Fraser
Hill + Knowlton Strategies
This email address is being protected from spambots. You need JavaScript enabled to view it.
Chevron
Creighton Welch
This email address is being protected from spambots. You need JavaScript enabled to view it.
Hyzon Motors
This email address is being protected from spambots. You need JavaScript enabled to view it.
Bloom and Telam to team on distributed power and electrolyzer deployment opportunities, supporting the electrification of ports and the development of hydrogen production
SAN JOSE, Calif. & MADRID--(BUSINESS WIRE)--Bloom Energy (NYSE:BE) has teamed with Telam Partners, a leading senior advisory firm specialized in the financing and market entry of energy, infrastructure, and technology projects, to expand Bloom’s footprint into Spain and Portugal.
The two companies will market and deploy the Bloom Electrolyzer, as well as Bloom’s Energy Servers, supporting customers with solutions that can efficiently meet their energy security needs and green hydrogen demand.
“Business and political leaders are looking for clean technologies and energy solutions,” said Tim Schweikert, Senior Managing Director of International Business Development, Bloom Energy Inc. “Bloom is now engaged to address these priorities in Spain and Portugal. Telam is a partner of choice, supporting Bloom’s long-term commitment to the Iberian Peninsula and to respond promptly to green transition policies and environmental imperatives.”
“At Telam we are excited to be able to work with the solid oxide fuel cell leader on the very important and urgent challenge of transitioning towards renewable energy,” said Jaime Malet, CEO of Telam Partners. “We are convinced that Spain and Portugal, thanks to an abundance of wind and solar resources, are among the clearest candidates to lead the production of green hydrogen in Europe.”
In line with Spanish and Portuguese objectives to become global green hydrogen hubs, Telam and Bloom will market Bloom’s solid oxide electrolyzer. With impressive efficiency confirmed in testing at the U.S. Department of Energy’s Idaho National Labs, the Bloom Electrolyzer provides hydrogen with low cost of ownership. Further, the Bloom Electrolyzer is well suited for large-scale installations, as well as projects such as ammonia and renewable fuels synthesis, which can be integrated with the electrolyzer.
Telam and Bloom will also market Bloom’s highly efficient fuel cell Energy Server™ to decarbonize port activities when ships are at berth. Bloom’s fuel-flexible technology, which can operate on natural gas, biogas or hydrogen, produces electricity without combustion and reduces carbon emissions compared to the auxiliary diesel gensets usually used for shore power.
This represents Bloom Energy’s first deal for the Iberian Peninsula. It confirms Bloom’s commitment to the European market, after announcing the installation of its energy platform at Ferrari’s Italian plant and a strategic partnership for the Italian market with the engineering, procurement and construction company CEFLA in 2022.
In addition, Bloom will join several power generation and hydrogen conferences across the peninsula to exhibit Bloom’s products and solutions. These will be opportunities for introducing Bloom to decision-makers in the region and beyond.
For more information about Bloom Energy’s decarbonization platform and the company’s commitment to a net-zero future, visit: https://www.bloomenergy.com/technology/powering-the-future/.
Forward-Looking Statements
This press release contains certain forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or the negative of these words or similar terms or expressions that concern Bloom’s expectations, strategy, priorities, plans or intentions. These forward-looking statements include, but are not limited to, Bloom’s expectations regarding the collaboration with Telam, including plans to install solid oxide fuel cells and electrolyzer sites selected by Telam, any expected benefits from the collaboration with Telam, such as carbon emissions reductions, increased energy efficiency, or satisfying any clean energy or power savings requirements by the European Union or other regulatory agencies, and progress towards any net-zero emissions, decarbonization or energy independence goals, and Bloom’s long-term commitment to particular regions, policies or imperatives. More information on potential risks and uncertainties that may impact Bloom’s business are set forth in Bloom’s periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, filed with the SEC on May 6, 2022, August 9, 2022 and November 3, 2022, respectively, as well as subsequent reports filed with or furnished to the SEC from time to time. Bloom assumes no obligation to, and does not currently intend to, update any such forward-looking statements.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com.
About Telam
Telam Partners is a strategic advisory firm specialized in financing and market entry across all sectors involved in the transition towards the new sustainable economy, including energy, water, transportation, telecommunications, logistics, circular economy and AI.
Telam scales up innovative business projects, designing and executing international market entry acceleration strategies, creating opportunities with key partners worldwide. Telam also designs complex financial structures and connects clients with equity and debt from global institutional investors.
Bloom Energy:
Media Contact:
Virginia Citrano
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Ed Vallejo
267.370.9717
This email address is being protected from spambots. You need JavaScript enabled to view it.
Telam Partners:
Media Contact
Cristina Apgar
+34 657 499 702
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today the appointments of Jennifer M. Grigsby and Kathleen McAllister to the SilverBow Board of Directors (the “Board”) effective immediately. Ms. Grigsby and Ms. McAllister join the Board as independent directors following a comprehensive search process, conducted with the assistance of a nationally recognized search firm, to complement the Board's existing credentials and qualifications.
Ms. Grigsby, a seasoned executive with experience in accounting, risk management, corporate governance and finance, primarily in the oil and gas exploration and production industry, served as the Secretary of Economic Administration for the State of Oklahoma, from March 2021 through November 2022. Prior to this role, Ms. Grigsby served as Executive Vice President and Chief Financial Officer of Ascent Resources, LLC from 2015 until 2020 and in various roles at Chesapeake Energy Corporation. She also currently serves as an independent director for CrossFirst Bankshares, Inc., Cetarus Ltd. and CompSource Mutual Insurance Company.
Ms. McAllister is an experienced public company executive and director with operational and financial expertise at companies in the energy value chain. She most recently served as President, Chief Executive Officer and Chief Financial Officer of Transocean Partners LLC from 2014 through the merger of Transocean Partners LLC with Transocean Ltd. in 2016. She also currently serves as an independent director for The Metals Company, Black Hills Corporation and Höegh LNG Partners LP.
Marcus C. Rowland, Independent Chairman of the Board, commented, “We are delighted to have Jennifer and Kathleen, two proven leaders and experienced directors in the oil and gas industry, join the Board. Each has a long history of enhancing the performance of major public companies as directors and executives. Their insight, knowledge and dedication will be valuable to SilverBow’s future growth and successful development.”
Michael Duginski, Chair of the Board’s Nominating and Strategy Committee, commented, “We undertook an extensive process of identifying, vetting, and evaluating director candidates. Jennifer’s and Kathleen’s track records of board leadership, along with managing organizations to achieve successful outcomes, will serve SilverBow and its stakeholders well in the years to come."
In connection with these appointments, the Board increased its size from seven to nine directors, eight of whom are independent directors. Collectively, the directors have broad operational and financial experience in the oil and gas industry, including health, safety and environmental affairs, regulatory affairs, environmental stewardship, risk management, capital markets, mergers and acquisitions, commodity hedging and accounting.
ABOUT JENNIFER GRIGSBY
Ms. Grigsby has over 30 years of progressive senior management experience in accounting, treasury, risk management, corporate governance, and corporate finance, primarily in the oil and gas exploration and production industry. Most recently, Ms. Grigsby served as Secretary of Economic Administration for the State of Oklahoma, from March 2021 through November 2022. In this role, Ms. Grigsby oversaw more than 20 state agencies including the Oklahoma Employment Security Commission, the Office of the State Treasurer, the Oklahoma Tax Commission, the Lottery Commission and the State’s Pension and Retirement Systems. Prior to this role, Ms. Grigsby served as Executive Vice President and Chief Financial Officer of Ascent Resources, LLC, an oil and gas exploration and production company located in Oklahoma City, Oklahoma, from 2015 until 2020. Ms. Grigsby previously served as CFO of American Energy – Woodford, LLC and CEO and CFO of American Energy Minerals, LLC from February 2015 to July 2015. Prior to her roles at American Energy, Ms. Grigsby spent almost 19 years with Chesapeake Energy Corporation (NYSE: CHK) and served in various executive roles, including Senior Vice President, Treasurer and Corporate Secretary and Senior Vice President – Corporate and Strategic Planning. Ms. Grigsby is also a principal and co-founder of Amethyst Investments, LLC, a passive financial investment company in Oklahoma City, Oklahoma. Ms. Grigsby currently serves on the board of directors and audit committee of each of CrossFirst Bankshares, Inc. (NASDAQ: CFB) as well as Cetarus Ltd. and on the board of directors and investment committee of CompSource Mutual Insurance Company. Ms. Grigsby serves as immediate past chair of the board of directors of the YMCA of Greater Oklahoma City and on the board of directors of the Oklahoma Hall of Fame and the United Way of Central Oklahoma. Ms. Grigsby holds a BS degree in Accounting from Oklahoma State University and an MBA from Oklahoma City University. Ms. Grigsby is a Certified Public Accountant and Chartered Global Management Accountant and is a member of the Oklahoma Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Ms. Grigsby is also National Association of Corporate Directors (NACD) Directorship CertifiedTM.
ABOUT KATHLEEN MCALLISTER
Ms. McAllister is a seasoned public company executive and director who has held diverse leadership roles in global, capital-intensive companies in the energy value chain. Most recently, Ms. McAllister served as President, Chief Executive Officer, and Director of Transocean Partners LLC (NYSE: RIGP) from 2014 to 2016 and as Chief Financial Officer in 2016. From 2011 to 2014, Ms. McAllister served as Vice President and Treasurer of Transocean Ltd. (NYSE and SIX: RIG) and led the initial public offering of Transocean Partners in 2014 after holding roles of increasing responsibility in corporate and operations, finance, treasury, accounting and tax with Transocean Ltd. Ms. McAllister began her career at Deloitte & Touche LLP and served in various finance, treasury, accounting and tax roles at Baker Hughes Company (NASDAQ: BKR), Helix Energy Solutions Group, Inc. (NYSE: HLX) and Veritas DGC Inc. (NYSE and TSX: VTS) prior to joining Transocean. Ms. McAllister currently serves as an independent director and audit committee chair for The Metals Company (NASDAQ: TMC), an independent director and audit committee member of Black Hills Corporation (NYSE: BKH), and an independent director, audit committee member and conflicts committee member of Höegh LNG Partners LP. (private, formerly NYSE: HMLP). Ms. McAllister serves on the National Association of Corporate Directors (NACD) Texas TriCities Chapter Board, for the University of Houston-Clear Lake College of Business Dean’s Advisory Council and on the Board of Aid to Victims of Domestic Abuse. Ms. McAllister holds a BS degree in Accounting from the University of Houston-Clear Lake.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the U.S. Securities and Exchange Commission, including in its Annual Report on Form 10-K for the year ended December 31, 2021, and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
--Fong Led Spruce Power Before Merger with XL Fleet—
--Current CEO Eric Tech to Remain on Board of Directors--
--Headquarters Moved to Denver, Colorado Effective January 1--
DENVER--(BUSINESS WIRE)--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”; formerly known as XL Fleet), a leading owner and operator of distributed solar energy assets across the United States, today announced the anticipated timing of its previously indicated leadership transition.
On February 1, 2023, Spruce President and Director Christian Fong will assume the role of Chief Executive Officer from current CEO Eric Tech. Tech will remain on the Board of Directors. Fong has over fifteen years of executive leadership experience in the power and energy industry. Fong assumed leadership of Spruce Power in 2017, where he built Spruce into the largest privately held residential solar owner/operator in North America, with over 50,000 customers and over $1 billion of distributed generation solar and energy efficiency assets. Over the past twenty years, Fong has served on numerous boards of companies and NGOs, including Terraform Power, then the world’s largest public independent renewable power producer.
Fong commented, “Spruce enters 2023 as a pure play owner/operator of residential rooftop solar, an enormous and growing market. Our differentiated business model focused on acquiring existing portfolios enables us to have one of the industry’s lowest customer acquisition costs, and we are well-funded to drive growth with over $200 million of unrestricted cash. Even as the last several years of rapid expansion doubled the size of both our portfolio and our experienced management team, I have never been more excited about the growth opportunities ahead for us.”
Outgoing CEO Eric Tech added, “Following on the exit of the XL Fleet Drivetrain business announced in December, today’s actions effectively complete the post-merger transition plan between XL Fleet and Spruce Power. As we complete this strategic transformation, we are confident that Spruce is in great hands and its future is bright. We are excited about the attractiveness of the rooftop solar market, the power of Spruce’s differentiated model, and the strength of their management team. I believe Spruce will achieve great success in the years to come.”
Related to the transition plan, the Company officially moved its headquarters to Denver, Colorado, effective January 1, 2023. Christian Fong and several key members of the Spruce Power leadership team are already located in Denver, and other team members and leadership roles will relocate in the months ahead.
About Spruce Power
Spruce Power is a leading owner and operator of distributed solar energy assets across the United States. We provide 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. Our company has more than 51,000 subscribers across the United States. For additional information, please visit www.sprucepower.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: 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 highly competitive nature of the Company’s business and markets; the ability to execute on and consummate business plans in anticipated time frames; litigation, complaints, warranty claims, product liability claims and/or adverse publicity; results of operations, financial condition, regulatory compliance and customer experience; the potential loss of 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; risks related to the rollout of the Company’s business and the timing of expected business milestones, including supply chain and labor shortage challenges in the solar panel markets; 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.
For More Information
Investor Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
Global top five energy company signs multi-year contract with $1M customer lifetime value
Calgary, Canada--(BUSINESS WIRE)--$BLN #TSX--Blackline Safety Corp. (TSX: BLN), a global leader in connected safety technology, today announced its largest ever order in its Rest of World geography, which includes regions outside North America and Europe.
The customer, one of the world’s largest energy and petrochemical companies, signed a new contract with a $1 million lifetime value. This customer continues Blackline’s impressive track record of adding to its extensive blue-chip customer base of high-quality operators that value the Company’s connected safety solutions.
Naming Blackline as a preferred supplier, the customer is purchasing G7c cellular wearables and G7 EXO area monitoring devices to protect their workers at various sites across the Middle East. Blackline’s all-in-one solution for lone worker and gas detection improves frontline worker safety and optimizes operations by providing access to real-time information.
“This record-breaking deployment demonstrates the return on investment we are receiving as a result of our marketing and sales efforts in the Middle East. We see significant growth potential in our Rest of World geography and this new deal represents the increased traction we are gaining in these regions. A growing number of global companies are investing in Blackline’s connected safety solutions to protect their workers while on the job,” said Sean Stinson, Chief Growth Officer, Blackline Safety.
“Our cloud-connected, location-enabled G7 safety wearables and G7 EXO portable area gas monitors offer 24/7 protection and visibility to workers and worksites of all types.”
About Blackline Safety
Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT (Internet of Things). With connected safety devices and predictive analytics, Blackline Safety enables companies to drive towards zero safety incidents and improved operational performance. Blackline Safety provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries. Armed with cellular and satellite connectivity, Blackline Safety provides a lifeline to tens of thousands of people, having reported over 185 billion data-points and initiated over five million emergency alerts. For more information, visit BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
INVESTOR AND ANALYST CONTACTS:
Matt Glover or Jeff Grampp, CFA
Gateway Group, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Telephone: +1 949 574 3860
MEDIA CONTACT:
Blackline Safety
Christine Gillies, CMO
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 403-629-9434
THOUSAND OAKS, Calif.--(BUSINESS WIRE)--Kolibri Global Energy Inc. (the “Company” or “KEI”) (TSX: KEI, OTCQX: KGEIF) is pleased to provide an update on the production exit rate and its latest wells in its Tishomingo field in Oklahoma.
Exit Rate
The Company exited the year with a production rate over 4,000 BOEPD (barrels of oil equivalent per day). This is 1,300 BOEPD, or 48% higher than the Company’s forecasted exit rate released in May of 2022.
Emery 17-2H Well, Brock 9-3H Well & Glenn 16-3H Well
The Emery 17-2H well (98.725% working interest) had a 30-day Initial Production Rate (“IP30”) of 715 BOEPD (560 BOPD) (barrels of oil per day).
The Brock 9-3H well (100% working interest) had an IP30 of 970 BOEPD (820 BOPD).
The Glenn 16-3H well (100% working interest) has averaged about 935 BOEPD (765 BOPD) for twenty-two production days while the well has been flowing back the completion stimulation fluid. The production from this well had been halted for a portion of December due to a packer malfunction, but production had resumed on the well by the end of the month.
Wolf Regener, President and CEO, commented, “These latest three wells have far exceeded our expectations and contributed to the Company significantly surpassing its year-end forecasted exit rate. The 4,000 BOEPD exit rate was achieved without the production contribution of one legacy well, which had been reworked in late December. We look forward to drilling our next wells later this quarter, as we have signed a drilling rig contract, where the rig is expected to arrive around March 1st, 2023.
“To put these excellent well results in perspective, the forecasted 30-day proved curve case (IP30) utilized by our third-party engineering firm for our December 31, 2021 reserve report was 388 BOEPD (“Reserve Report IP30”), while the initial 30-day type curve used by the Company’s management for wells in the corridor assumes a 472 BOEPD IP30 rate (“Management IP30”). The Emery 17-2H well IP-30 and the Brock 9-3H well IP-30 are about 1.8 and 2.5 times higher, respectively, than the Reserve Report IP30.
“While three of the wells are early in the production cycle, the five wells we drilled this year with our latest generation completion technique demonstrates some of the best results we have had in this field. This illustrates the consistency that management believes it can continue to achieve.
“Based on the current performance of the Glenn 16-3H well and the expectation that it will perform similarly to our previous core area wells, we anticipate that it will end up with an IP30 rate that is also much higher than the Reserve Report IP30 and above the Management IP30. However, there can be no assurance as to what the well’s IP30 rate or ultimate productivity will be.”
About Kolibri Global Energy Inc.
Kolibri Global Energy Inc. is a North American energy company focused on finding and exploiting energy projects in oil, gas, and clean and sustainable energy. Through various subsidiaries, the Company owns and operates energy properties in the United States. The Company continues to utilize its technical and operational expertise to identify and acquire additional projects. The Company's shares are traded on the Toronto Stock Exchange under the stock symbol KEI and on the OTCQX under the stock symbol KGEIF.
Cautionary Statements
In this news release and the Company’s other public disclosure: The references to barrels of oil equivalent ("Boes") reflect natural gas, natural gas liquids and oil. Boes may be misleading, particularly if used in isolation. A Boe conversion ratio of 6 Mcf:1 Bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency of 6:1, utilizing a conversion on a 6:1 basis may be misleading as an indication of value. Possible reserves are those additional reserves that are less certain to be recovered than probable reserves. There is a 10% probability that the quantities actually recovered will equal or exceed the sum of proved plus probable plus possible reserves. The type curve utilized by the Company’s management is the average of the 7 Caney wells that were drilled prior to December 31st, 2021, are located in the Corridor (well names can be found on the Company’s Corporate presentation), with lateral lengths normalized to a 4,900 ft lateral length, the other assumptions are the same as in the Company’s December 31, 2021 independent reserves evaluation.
Readers should be aware that references to initial production rates and other short-term production rates are preliminary in nature and are not necessarily indicative of long-term performance or of ultimate recovery. Readers are referred to the full description of the results of the Company's December 31, 2021 independent reserves evaluation and other oil and gas information contained in its Form 51-101F1 Statement of Reserves Data and Other Oil and Gas Information for the year ended December 31, 2021, which the Company filed on SEDAR on March 8, 2022.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws and “forward-looking statements” within the meaning of United States securities laws (collectively, “forward looking information”), including statements regarding the timing of and expected results from planned wells development, the anticipated IP30 rate of the Glenn 16-3H well, and management’s expectation regarding achieving consistency in future wells. Forward-looking information is based on plans and estimates of management and interpretations of data by the Company's technical team at the date the data is provided and is subject to several factors and assumptions of management, including that that indications of early results are reasonably accurate predictors of the prospectiveness of the shale intervals, that required regulatory approvals will be available when required, that no unforeseen delays, unexpected geological or other effects, including flooding and extended interruptions due to inclement or hazardous weather conditions, equipment failures, permitting delays or labor or contract disputes are encountered, that the necessary labor and equipment will be obtained, that the development plans of the Company and its co-venturers will not change, that the offset operator’s operations will proceed as expected by management, that the demand for oil and gas will be sustained, that the price of oil will be sustained or increase, that the Company will continue to be able to access sufficient capital through financings, farm-ins or other participation arrangements to maintain its projects, and that global economic conditions will not deteriorate in a manner that has an adverse impact on the Company's business, its ability to advance its business strategy and the industry as a whole. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions on which such forward looking information is based vary or prove to be invalid, including that the Company or its subsidiaries is not able for any reason to obtain and provide the information necessary to secure required approvals or that required regulatory approvals are otherwise not available when required, that unexpected geological results are encountered, that equipment failures, permitting delays, labor or contract disputes or shortages of equipment or labor are encountered, the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration and development projects or capital expenditures; the uncertainty of reserve and resource estimates and projections relating to production, costs and expenses, and health, safety and environmental risks, including flooding and extended interruptions due to inclement or hazardous weather conditions), the risk of commodity price and foreign exchange rate fluctuations, that the offset operator’s operations have unexpected adverse effects on the Company’s operations, that completion techniques require further optimization, that production rates do not match the Company’s assumptions, that very low or no production rates are achieved, that the price of oil will decline, that the Company is unable to access required capital, that occurrences such as those that are assumed will not occur, do in fact occur, and those conditions that are assumed will continue or improve, do not continue or improve, and the other risks and uncertainties applicable to exploration and development activities and the Company's business as set forth in the Company's management discussion and analysis and its annual information form, both of which are available for viewing under the Company's profile at www.sedar.com, any of which could result in delays, cessation in planned work or loss of one or more concessions and have an adverse effect on the Company and its financial condition. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Wolf E. Regener +1 (805) 484-3613
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.kolibrienergy.com
BELOIT, Wis.--(BUSINESS WIRE)--#FM175D--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, is expanding its naval defense capabilities by offering the nForcer FM 175D engine, the defense contractor's first engine designed for high-speed applications. With more power density than competing high-speed engines in the maritime defense marketplace, the nForcer FM 175D is best suited to support the substantial power and propulsion needs of the Navy's unmanned programs.
"The Navy's future fleet will be electric, and the power requirements for each vessel to support advanced weapons and detection systems alongside standard operations will be greater than anything else we've seen over the past 20-30 years," said George Whittier, FMD CEO. "Fairbanks Morse Defense has provided the Navy with some of the most trusted power and propulsion systems on the planet for nearly 100 years, making us uniquely qualified to support the Navy's future efforts to protect the freedom of the seas with this high-speed engine."
The nForcer FM 175D engine will be available with 12, 16, or 20 cylinders and includes a 175-millimeter bore for mechanical or electric propulsion for onboard power generation. It operates at 1,800 – 2,000 RPMs and has a power output rating of 1,740 – 4,400 kW, making it one of the most power-dense high-speed engines available for maritime use.
FMD anticipates the nForcer FM 175D engine will be ready to integrate with naval fleets within the next two years.
Offered by FMD and serviced worldwide, their proven marine technology is engineered for excellence to ensure reliable operation, extended asset lifecycles, and minimal downtime. In addition to delivering its power and propulsion systems, the defense contractor has repeatedly been selected by the Navy and Military Sealift Command to provide mission-critical marine technology, turnkey services, and OEM parts throughout the vessel.
The nForcer FM 175D engine is among a growing number of solutions for FMD. As of recently, they created the Technology Center of Excellence, consolidating into one platform FMD's emerging technologies, including Artificial Intelligence (AI), Digital Defenses, SMART Engineering Solutions, Uncrewed Mission Management and FM OnBoard. While previously known primarily as an engine manufacturer, FMD has spent the last two years acquiring companies and expanding its capabilities to provide products and services for the entire ship.
Click here for a rendering of the nForcer FM 175D.
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
Fairbanks Morse is a MAN Energy Solutions SE licensee.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Building-Integrated Photovoltaics (BIPV): Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.
In this report, the market has been segmented based on technology, application, end user and geography. The report provides an overview of the global BIPV market and analyses market trends. Using 2021 as the base year, the report provides estimated market data for the forecast period, 2022-2027.
Buildings today are a leading global consumer of energy, and this trend is likely to continue well into the future, primarily driven by economic and population growth. This trend has been increasingly recognized by a multitude of countries worldwide.
Different governments at the federal, state and local levels are increasing their investment in green energy technologies for new and existing buildings as a means of achieving greenhouse gas reduction targets. Consequently, energy efficiency in buildings has evolved into a major factor of the green movement in recent years.
BIPVs make up a small but increasingly noticeable component of the global PV market. Some BIPV applications are emerging as major growth segments that will likely reach gigawatt-scale annual sales within a decade. When annual capacity installations are totaled, the entire BIPV sector is found to already be beyond the gigawatt level of annual capacity.
Unlike the rapid progress made in building PV capacity with utility-scale power plants, no feasible method exists for complete vertical integration with BIPV projects in all existing and planned buildings. For this, companies need partners, affiliates, alliances, visionaries and champions.
The COVID-19 pandemic led to a significant change in consumer behavior and demand, affected purchasing patterns, re-routed supply chains, complicated the dynamics of current market forces and involved significant interventions of governments. Just like any other market, the BIPV market was impacted by the pandemic in 2020.
Two types of construction markets can include BIPV components: new-builds and retrofits. The economic upheaval caused by the COVID-19 pandemic severely depressed new construction in many regions of the world. In developed economies, renovations and retrofits will show more significant opportunities in the coming years since those projects, always necessary, are more likely to be eligible for public financial incentives and potential developer participation.
The silicon used to fabricate solar cells is either crystalline (single-crystal or multi-crystal) or amorphous. Presently, c-Si and multi-crystalline silicon (mc-Si) rigid modules are the dominant BIPV products, along with amorphous silicon (a-Si) flexible modules. However, copper indium gallium selenide (CIGS) and cadmium telluride (CdTe) technologies are growing rapidly as well.
The use of c-Si and mc-Si will change rapidly-and be used in ways that standard rigid modules cannot. The arrival of CIGS into the market, followed closely by the dye-sensitized solar cell (DSSC) and organic PV (OPV) products, will encourage an entirely new method and process of thinking about how to build, clad and color buildings.
A building consists of an outside shell, an inside, sides and a top. Nearly all PV applications involve the integration of the PV component in an exterior building component. An integrated PV product physically replaces a component and then serves both that component's original function and generates electricity. The table below provides an overview of the various regional markets.
Revenue forecasts for this period are segmented based on technology, application, end user and geography. Market values have been estimated based on the total revenue of BIPV providers.
The report covers the market for BIPV with regard to the user base across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for BIPV in 2021 and provides projections for the expected market size through 2027.
The report also focuses on the major driving trends and challenges that affect the market and the vendor landscape. The report explains the value chain, competitive landscape, and current trends in the BIPV market. It concludes with an analysis of the BIPV vendor landscape and includes detailed profiles of the major players in the global BIPV market.
The following parameters define the scope of the report:
Report Includes
Profile descriptions of the leading market participants, including
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
3.1 Global Energy Sources
3.2 Importance of Renewable Energy
3.3 Overview of Photovoltaics
3.4 BIPV Industry Outlook
3.5 Value Chain Analysis
3.6 Government Policies and Support
3.6.1 General Policy Programs and Support
3.7 Overview of BIPV Policies, Regulations, and Incentive Programs
3.7.1 General
3.7.2 Fits Vs. Rates Net Metering
3.7.3 BIPV Policies, Regulations, and Incentive Programs in North America
3.7.4 BIPV Policies, Regulations and Incentive Programs in Europe and the EU
3.7.5 Microanalysis of Individual European Countries
3.7.6 BIPV Policies, Regulations, and Incentive Programs in APAC
3.7.7 ASEAN Countries
3.7.8 BIPV Policies, Regulations, and Incentive Programs in the South America
3.7.9 BIPV Policies, Regulations, and Incentive Programs in the Rest of the World
3.8 BIPV-Relevant International Standards
3.8.1 International Certification Standards
3.8.2 Eu-Specific Certification Standards
3.9 Porter's Five Forces Analysis
3.10 Impact of Covid-19 on the BIPV Market
3.10.1 Impact on the Industry
3.10.2 Conclusion
Chapter 4 Market Dynamics
4.1 Market Dynamics
4.1.1 Market Drivers
4.1.2 Market Restraints
4.1.3 Market Opportunities
Chapter 5 Market Breakdown by Technology
5.1 Overview
5.2 Crystalline Silicon
5.2.1 Single-Crystal Silicon PVs
5.2.2 Polycrystalline Silicon PVs
5.3 Thin Film
5.3.1 Amorphous Silicon
5.3.2 Cadmium Telluride
5.3.3 Copper Indium Gallium Diselenide
5.4 Others
5.4.1 Multi-Junction Cells
5.4.2 Dye-Sensitized Solar Cells
5.4.3 Quantum Dot PVs
5.4.4 Organic Solar Cells
5.4.5 Nanomaterials
5.4.6 Other Third-Generation PV Materials
5.5 Additional Information
Chapter 6 Market Breakdown by Application
6.1 Introduction
6.2 Roofing
6.2.1 Roofing Shingles
6.2.2 Roofing Tiles
6.2.3 Standing Seam Metal Roofing
6.2.4 Single-Ply Membrane Roofing
6.3 Glazing
6.4 Skylights
6.5 Facades
6.5.1 Building Cladding
6.5.2 Green Parking
6.6 Architectural Shading
6.7 Additional Information
Chapter 7 Market Breakdown by End-user
7.1 Introduction
7.2 Industrial
7.3 Commercial
7.4 Residential
7.5 Additional Information
Chapter 8 Market Breakdown by Region
8.1 Global Market Value by Region
Chapter 9 Patent Analysis
9.1 Patent Analysis
9.1.1 Key Recently Granted Patents
Chapter 10 Competitive Landscape
10.1 Top Companies
10.2 Market Share Analysis
10.2.1 Key Market Developments
Chapter 11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/1r6xtg
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 "Company List - Gasoline Stations in United States" database has been added to ResearchAndMarkets.com's offering.
Company List - Gasoline Stations in United States is an Excel company list of companies involved in Gasoline Stations in United States. There are approximately 25000 companies in this list.
Each Excel file contains the following:
Reasons to buy this list:
Companies Mentioned
For more information about this database visit https://www.researchandmarkets.com/r/v5y35v
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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
Guzman Energy will continue delivering wholesale power savings to KCEC; savings estimated between $150-170 million
DENVER & TAOS, N.M.--(BUSINESS WIRE)--Guzman Energy and Kit Carson Electric Cooperative (KCEC) today announced the extension of their wholesale power supply agreement to continue through June 30, 2041. Established in 2016, the Guzman Energy partnership with KCEC provides KCEC with fixed wholesale power rates delivering savings and member rate stability. The existing contract has also enabled local decision-making for KCEC to expand local solar power generation and storage operations as they reach their goal of generating 100% summer daytime solar energy.
Key aspects of the contract extension include:
“The value that Guzman Energy provides our membership goes beyond cost savings. They have been consistent supporters of our community and share the KCEC Board vision to develop modern, resilient and locally managed renewable energy assets,” said Luis A. Reyes, Jr., CEO of KCEC. “Guzman Energy is a true partner for energy transition strategy and execution, helping KCEC become one of the cleanest, most cost-effective power distribution cooperatives in America.”
With the contract extension, the Guzman Energy – KCEC wholesale power partnership is anticipated to deliver increased savings reaching $150 million to $170 million over the total lifetime of the contract. Access to and ownership of transmission lines is an important variable in estimating cost savings. In addition to savings, the Guzman Energy – KCEC partnership has delivered KCEC with fixed wholesale power rate stability as well as a spate of local renewable power generation projects including development of 41 MW of distributed solar along with 15 MW of accompanying battery storage.
“The KCEC Board and leadership team are fully committed to delivering on the needs of their local member owners,” said Jeffrey M. Heit, Principal and Managing Director, Guzman Energy. “The Guzman Energy team looks forward to building on the success of the KCEC energy transition to-date. This is a partnership with big ideas and a track record of delivering.”
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. To learn more, visit www.GuzmanEnergy.com.
About Kit Carson Electric Cooperative
Formed in 1944, Kit Carson is a member owned electric distribution cooperative in northern New Mexico and is the second largest cooperative in the state. Kit Carson is one of 16 electric cooperatives that serve rural New Mexico communities, serving nearly 30,000 members in Taos, Colfax and Rio Arriba counties. To learn more about Kit Carson, visit www.kitcarson.com.
Guzman Energy
Amy Messenger
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Database of Fuel Retailers (Gasoline Stations and Petrol Stations) in Europe" database has been added to ResearchAndMarkets.com's offering.
The Database of Fuel Retailers (Gasoline Stations and Petrol Stations) in Europe is an Excel spreadsheet containing a list of the largest 8000 Fuel Retailers (Gasoline Stations and Petrol Stations) in Europe. Each of our company lists displays the leading companies ranked by revenue in $USm.
Each Excel file contains the following:
Reasons to buy this list:
For more information about this database visit https://www.researchandmarkets.com/r/ycmuy9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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
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.