Ambitious plan includes electrifying the global parcel pickup and delivery fleet and establishing the Yale Center for Natural Carbon Capture to advance sequestration solutions
MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX), home of the world’s largest cargo airline, announced today an ambitious goal to achieve carbon-neutral operations globally by 2040.
To help reach this goal, FedEx is designating more than $2 billion of initial investment in three key areas: vehicle electrification, sustainable energy, and carbon sequestration.
This includes a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture, accelerating research into methods of carbon sequestration at scale, with an initial focus on helping to offset greenhouse gas emissions equivalent to current airline emissions.
“We have a responsibility to take bold action in addressing climate challenges,” said Frederick W. Smith, Chairman and CEO, FedEx Corp. “This goal builds on our longstanding commitment to sustainability throughout our operations, while at the same time investing in long-term, transformational solutions for FedEx and our entire industry.”
Key steps toward reaching the carbon neutral goal include:
The path toward sustainability requires new strategies for removing and storing Earth’s excess carbon. The Yale Center for Natural Carbon Capture will catalyze interdisciplinary research across the natural sciences and engineering in an effort to accelerate this work.
Center researchers will develop methods that build on natural carbon storage systems, including biological ecosystems and the geological carbon cycle, improving, where possible, how quickly carbon can be absorbed, how much can be contained, and how long it can be stored. Through these efforts, Yale scientists aim to create a portfolio of carbon removal strategies that have impacts on a global scale.
Building upon initial successes in the aviation sector, the center will broaden its scope to address additional global sources of emissions – publishing and sharing its findings so that businesses, industries, and governments can benefit from work that will accelerate the adoption and implementation of natural carbon capture strategies around the world.
“Addressing climate change is a complex challenge that demands urgent action, and natural carbon capture strategies will be one key part of that action,” said Dr. Ingrid C. “Indy” Burke, the Carl W. Knobloch, Jr. Dean of the Yale School of the Environment. “Through the creation of the Yale Center for Natural Carbon Capture, we aim to develop measurable carbon capture strategies to help offset carbon emissions globally.”
The FedEx commitment builds on a history of sustainable practices. Since 2009, the company’s efforts have contributed to an approximately 40% reduction in CO2 emissions intensity across the enterprise while package volume increased 99% during that period. Recently, FedEx was ranked first in its industry on JUST Capital’s 2021 list of “America’s Most Just Companies” in the environment category and first in the travel, transport and logistics sector of Newsweek’s “America’s Most Responsible Companies 2021.”
“While we’ve made great strides in reducing our environmental impact, we have to do more. The long-term health of our industry is directly linked to the health of the planet, but this effort is about more than the bottom line – it’s the right thing to do,” said Mitch Jackson, Chief Sustainability Officer, FedEx Corp. “At FedEx, we are committed to connecting people and possibilities resourcefully and responsibly. The steps we are taking today will contribute a positive impact for generations to come.”
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $75 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its nearly 600,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. To learn more about ongoing sustainability efforts at FedEx, visit sustainability.fedex.com.
Forward-looking statements
Certain statements in this press release may be considered forward-looking statements, such as statements relating to our goal to achieve carbon-neutral operations globally by 2040, our strategies to achieve our carbon neutrality goal, and underlying assumptions. Forward-looking statements include those preceded by, followed by or that include the words “will,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “plans,” “estimates,” “targets,” “projects,” “intends,” “commits,” or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results, including project plans and timing, future reductions in emissions and emissions intensity, carbon capture results, and the impact of operational and technology efforts, to differ materially from historical experience or from future results expressed or implied by such forward-looking statements.
Potential risks and uncertainties include, but are not limited to: our ability to execute our strategies and achieve our goals within the projected costs and the expected timeframes; the availability of zero emission electric vehicles, alternative fuels, fuel efficient aircraft, and other materials and components; unforeseen production, design, operational, and technological difficulties; the outcome of research efforts and future technology developments, including the ability to scale projects and technologies on a commercially competitive basis including carbon sequestration and/or other related processes; compliance with, and changes or additions to, global and regional regulations, taxes, charges, mandates, or requirements relating to greenhouse gas emissions, carbon costs, or climate-related goals; labor-related regulations and requirements that restrict or prohibit our ability to impose requirements on third parties who provide contracted transportation for our transportation networks; adapting products to customer preferences and customer acceptance of sustainable supply chain solutions; the actions of competitors and competitive pressures; the pace of regional and global recovery from the COVID-19 pandemic; and other factors which can be found in FedEx’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
FedEx Media Relations
Joseph Miner
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DUBLIN--(BUSINESS WIRE)--The "India Gas Genset Market, By Type (Up to 75kVA, 76 kVA-350 kVA, 351kVA-750kVA, >750kVA), By End User (Industrial, Domestic, Commercial), By Region-Competition, Forecast, and Opportunities, FY2016-FY2027" report has been added to ResearchAndMarkets.com's offering.
The Indian Gas Genset Market stood at over USD246.25 million in FY2020 and is forecast to reach USD339.12 million by FY2026
Anticipated growth in the market can be attributed to growing pipeline infrastructure and increasing awareness about gas being a cleaner fuel. Moreover, the lower operating cost of gas gensets as compared to diesel gensets, along with growing construction activities, is further boosting demand for gas gensets in India. Additionally, the rising government focus on reducing harmful emissions and promoting the use of gaseous fuel is further anticipated to aid the growth of the Indian Gas Genset Market during the forecast period.
The Indian Gas Genset Market is projected to gain popularity in the coming timeframe due to the rising need for uninterruptible power supply source systems in the country. The Indian Gas Genset Market is experiencing an extensive growth due to the accelerating use of gas gensets in rural areas for parties and religious programs, as in India, rural areas attain less electricity access where gas genset plays a significant role in providing adequate electricity access during power outages.
Additionally, rising construction sector like Char Dham Expressway is expected to pave a way towards the robust demand for gas genset by proving emergence power during construction in remote areas and absence of power grid. Gas gensets are likely to be considered the best at times of emergency and is expected to spur the enormous growth of the Indian Gas Genset Market in the coming six years.
Few of the major players operating in the Indian Gas Genset Market include Clarke Energy India Private Limited, Caterpillar India Private Limited, Green Power International Pvt Ltd., GGE Genset Private Limited, Wartsila India Private Limited, Cooper Corporation Private Limited, Perfect Gas Generators, Sterling & Wilson Pvt Ltd., MTU India Private Limited, Cummins India Limited (CIL), Mahindra Powerol Limited, Prakash Diesels Private Limited, Powerline Group of Industries and Kirloskar Oil Engines Limited (KOEL).
Years considered for this report:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Gas Genset Market
5. Voice of Customer
6. India Gas Genset Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type (Up to 75kVA, 76 kVA-350 kVA, 351kVA-750KVA, >750kVA)
6.2.2. By End User (Industrial, Commercial, Domestic)
6.2.3. By Company
6.2.4. By Region (North; South; East; West)
6.3. Market Attractiveness Index
7. North India Gas Genset Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Product Type
7.2.2. By End user
8. East India Gas Genset Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Product Type
8.2.2. By End user
9. West India Gas Genset Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Product Type
9.2.2. By End user
10. South India Gas Genset Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Product Type
10.2.2. By End user
11. Market Dynamics
11.1. Drivers
11.2. Challenges
12. Market Trends & Developments
13. India Economic Profile
14. Policy & Regulatory Framework
15. Competitive Landscape
15.1. Competition Outlook
16. Company Profiles (Leading Companies)
15.3.1 Clarke Energy India Private Limited
15.3.2 Caterpillar India Private Limited
15.3.3 Green Power International Pvt Ltd
15.3.4 GGE Genset Private Limited
15.3.5 Wartsila India Private Limited
15.3.6 Yanmar
15.3.7 MTU India
15.3.8 Sterling & Wilson
15.3.9 Mahindra Powerol Limited
15.3.10 Prakash Diesels Private Limited
For more information about this report visit https://www.researchandmarkets.com/r/4dooq8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TORONTO--(BUSINESS WIRE)--Cybin Inc. (NEO:CYBN) (OTCQB:CLXPF) (“Cybin” or the “Company”), a biotechnology company focused on progressing psychedelic therapeutics, today announced its successful uplisting from the OTC Pink Sheets to the OTCQB® Venture Market (the “OTCQB”). Cybin will commence trading on the OTCQB with the market open on March 8, 2021, under the symbol “CLXPF”.
The OTCQB, operated by OTC Markets Group Inc., is designed for developing and entrepreneurial companies in the United States and abroad. Companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities.
“Listing on the OTCQB is another important milestone for Cybin. It affords us greater visibility within the investment community, which should enhance our liquidity and increase our access to institutional and retail investors. This additional capital markets exposure will be valuable, as we continue to support our psychedelic drug development programs to potentially treat mental health disorders, such as Major Depressive Disorder and other therapy-resistant psychiatric disorders,” stated Doug Drysdale, CEO of Cybin.
The Company would also like to announce a new strategic brand messaging campaign designed to align its corporate mission amongst the investor community across North America and Europe. The Company will continue to engage investor communications, financial research, and cross platform digital marketing service providers to increase public awareness regarding corporate activities, strategic plans, and the investment opportunity through the dissemination of Company information extrapolated from publicly disclosed investor presentations and press releases.
The Company has engaged CDMG INC. to develop and execute a comprehensive investor relations program and to provide marketing services focusing on North America and Europe.
Cybin will continue to trade on the NEO Exchange under its existing symbol “CYBN.”
About Cybin
Cybin is a leading biotechnology company focused on progressing psychedelic therapeutics by utilizing proprietary drug discovery platforms, innovative drug delivery systems, novel formulation approaches and treatment regimens for psychiatric disorders.
Cautionary Notes and Forward-Looking Statements
Certain statements in this news release related to the Company are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding enhanced liquidity, the value of additional capital markets exposure, access to institutional and retail investors, the Company’s new strategic brand messaging campaign, and psychedelic drug development programs to potentially treat mental health disorders. There are numerous risks and uncertainties that could cause actual results and Cybin’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these forward-looking statements.
Cybin makes no medical, treatment or health benefit claims about Cybin’s proposed products. The U.S. Food and Drug Administration, Health Canada or other similar regulatory authorities have not evaluated claims regarding psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceutical products. The efficacy of such products have not been confirmed by approved research. There is no assurance that the use of psilocybin, psychedelic tryptamine, tryptamine derivatives or other psychedelic compounds or nutraceuticals can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Cybin has not conducted clinical trials for the use of its proposed products. Any references to quality, consistency, efficacy and safety of potential products do not imply that Cybin verified such in clinical trials or that Cybin will complete such trials. If Cybin cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Cybin’s performance and operations.
The NEO Exchange has neither approved nor disapproved the contents of this news release and is not responsible for the adequacy and accuracy of the contents herein.
Investor Contacts:
Tim Regan/Scott Eckstein
KCSA Strategic Communications
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Lisa M. Wilson
In-Site Communications, Inc.
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Media Contacts:
John Kanakis
Cybin Inc.
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Annie Graf
KCSA Strategic Communications
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Faith Pomeroy-Ward
In-Site Communications, Inc.
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ADNOC confirms removal of destination restrictions on Murban from June 2021
ADNOC Onshore launches monthly forward availability forecast report for Murban export volumes
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of mortgage technology, data and listings services, today announced an update on Murban Crude Oil Futures ahead of their launch on March 29, 2021, subject to regulatory approval.
As previously announced, the first Murban futures contract month at launch will be the June contract, which expires at the end of April for physical delivery in June. Today ADNOC announced that it plans to remove destination restrictions from Murban, as well as its Upper Zakum, Das and Umm Lulu crude grades, from June 2021, aligned with the first expiry of the futures contract.
To provide the market with visibility of expected Murban Export availability volumes, ADNOC Onshore has launched a monthly report with a 12-month rolling forecast of Murban export availability, which can be viewed here. By 2030, ADNOC expects Murban crude to contribute almost 50% of ADNOC’s 5 million barrels of oil per day production capacity target.
“Today’s announcement from ADNOC marks an important moment, providing significant new transparency and flexibility for Murban Crude, and which means trading and hedging Murban futures can appeal to an even broader audience of market participants around the world,” said Jamal Oulhadj, President of ICE Futures Abu Dhabi.
Contracts traded at IFAD will be cleared at ICE Clear Europe, a leading energy clearing house, and will clear alongside ICE’s global energy futures platform covering oil, natural gas and the environmental complex, allowing customers to benefit from associated margin offsets.
About Intercontinental Exchange
Intercontinental Exchange (NYSE: ICE) is a Fortune 500 company and provider of marketplace infrastructure, data services and technology solutions to a broad range of customers including financial institutions, corporations and government entities. We operate regulated marketplaces, including the New York Stock Exchange, for the listing, trading and clearing of a broad array of derivatives contracts and financial securities across major asset classes. Our comprehensive data services offering supports the trading, investment, risk management and connectivity needs of customers around the world and across asset classes. As a leading technology provider for the U.S. residential mortgage industry, ICE Mortgage Technology provides the technology and infrastructure to transform and digitize U.S. residential mortgages, from application and loan origination through to final settlement.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
ICE Media Contact:
Rebecca Mitchell
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+44 7951 057 351
ICE Investor Contact:
Warren Gardiner
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770-835-0114
MP2 Energy to supply renewable power to Visa’s facilities in the commonwealth of Virginia from new solar generation facilities
SAN FRANCISCO--(BUSINESS WIRE)--Visa (NYSE: V), a leading global payments technology company, announced today that it has entered a multi-year energy agreement with MP2 Energy LLC, a wholly owned subsidiary of Shell Energy North America (US), L.P., to power Visa’s data center in the commonwealth of Virginia with 100 percent renewable energy during five years of the agreement. This agreement contributes to Visa’s commitment to reduce the carbon impact of its global operations and to support renewable energy generation in Virginia. Visa’s largest data center is located in Virginia and accounts for over one third of the company’s global electricity usage.
In January 2020, Visa announced completion of its goal to transition to 100 percent renewable electricity for its offices and data centers through a combination of enrollments in utility and other renewable programs and the purchase of renewable energy certificates (RECs), in accordance with the guidelines of the global RE100 initiative. The agreement announced today signals the next phase for Visa advancing its sustainability priorities, which includes supporting additional renewable electricity capacity to the grid. It also deepens the company’s commitment and investment in Virginia by supporting the Virginia Clean Economy Act, which is expected to create nearly 30,000 new solar jobs in the commonwealth by 2030.
“Promoting sustainable ways of doing business to combat climate change is a key part of our sustainability strategy,” said Douglas Sabo, chief sustainability officer, Visa. “The agreement with MP2 Energy contributes to Visa’s climate action agenda, supports new renewable energy generation across the commonwealth of Virginia, and contributes to a positive impact on the environment and local economic development.”
The agreement with MP2 Energy supports renewable electricity generation coming online to the grid from new solar projects, from which MP2 Energy will procure renewable electricity, which Visa expects to begin using in February 2023. The electricity generated by the projects and Visa’s purchase of associated project RECs will replace a portion of Visa’s purchases of RECs, which the company made to help reach its commitment to transition to 100 percent renewable electricity by 2020. Visa’s agreement supports the expansion of new solar generation within the commonwealth’s grid. Specifically, the RECs associated with the renewable power for this agreement will come from NextEnergy Capital Virginia’s Briel Farm and Gardy’s Mill solar assets and Caden Energix’s solar assets Hickory, Rives Road and Pamplin.
“We used our market knowledge and expertise to integrate a package of renewable resources that meet Visa’s needs,” said David Black, CEO, MP2 Energy. “We’re really pleased to show a tangible example of the benefits of allowing businesses in the commonwealth to have competitive choices in meeting renewable energy supply goals.”
“Visa’s new agreement with MP2 Energy supports demand for renewable generation and, by extension, creation of job opportunities in the renewable energy sector in the commonwealth,” said Governor Ralph Northam. “Companies like Visa, leveraging the expertise of industry leaders such as MP2 Energy, helps Virginia advance the goals of the Clean Economy Act and the commonwealth’s Clean Energy Policy. This announcement reinforces our leadership position among states proving that a clean environment and a strong economy go hand-in-hand.”
Visa’s global commitment to sustainability and reducing the environmental footprint of its operations are components of the company’s commitment to leading environmental, social and governance (ESG) best practices. Visa continues to be recognized for its industry leadership in ESG, such as inclusion in the Dow Jones Sustainability North American Index and placement on ESG-focused corporate lists such as America’s Most Responsible Companies, 100 Best Corporate Citizens and 100 Most Just Companies. For more information on the company’s strategy, read Visa’s Corporate Responsibility and Sustainability Report.
About Visa Inc.
Visa is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device. As the world moves from analogue to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information visit usa.visa.com/about-visa.html, usa.visa.com/visa-everywhere/blog.html and @VisaNews.
Visa Media
Lindy Mockovak
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DUBLIN--(BUSINESS WIRE)--The "Oil & Gas Upstream Activities Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Major companies in the oil and gas upstream activities market include Saudi Aramco; Rosneft; Kuwait Petroleum Corporation; ADNOC and Iraq Ministry of Oil.
The global oil & gas upstream activities market is expected to grow from $2635.45 billion in 2020 to $3335.52 billion in 2021 at a compound annual growth rate (CAGR) of 26.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4243.14 billion in 2025 at a CAGR of 6%.
The oil and gas upstream activities market consists of sales of crude oil and natural gas by entities (organizations, sole traders or partnerships) that undertake the pre-refining activities of crude oil and natural gas production. The oil and gas upstream activities market is segmented into crude oil; natural gas; oil and gas wells drilling services and oil and gas supporting activities.
Asia Pacific was the largest region in the global oil & gas upstream activities market, accounting for 35% of the market in 2020. North America was the second largest region accounting for 20% of the global oil & gas upstream activities market. Africa was the smallest region in the global oil & gas upstream activities market.
Oil and Gas Wells Drilling Service providers are using seismic technology to map and interpret potential hydrocarbon reserves. 4d seismic technology is used to track the change in the physical properties of the reservoir rocks which are caused due to changes in reservoir pressure, temperature and fluid saturation.
It tracks these changes by repeating 3D seismic surveys over time-to-time to create a time-lapse or 4D seismic image. These technology works as a tool to minimize drilling risk and maximize the return on investment. For Instance, some of the major companies using this technology include Statoil, NTNU, and Chevron.
Oil and gas well drilling companies are adopting 3D visualization systems to reduce project cycle times and increase drilling accuracy. 3D visualization system generates a 3D model of a wellbore and real-time drilling data to monitor and optimize drilling process. This system facilitates automatic diagnosis of drilling problems and improves and streamlines collaboration by allowing geoscientists and drilling engineers to virtually locate, see, and test drilling sites, resulting in significant cost savings of up to20% and reduction in non-productive drilling time by 20%.
These systems are integrated with asset teams by means of software, thus facilitating precise and accurate placement of drill sites. For Instance, some of the major companies offering 3D visualization technology companies include eDrilling, Hexagon, Mechdyne and Landmark.
Oil and gas extraction companies around the world are investing heavily in digital oilfield technology to enhance oil and gas production. Digital oil fields integrate advanced software, hardware, and data analysis techniques to collect real-time data from the oilfield.
They consist of visualization, product surveillance, integrated decision making, and remote communication systems. Digital technologies in oil fields include high-performance drill bits, advanced electrical submersible pumps, and 3D seismic imaging and reservoir modelling.
Oilfields digitization facilitates efficient utilization of human resources and thus optimizes the profitability of oil production. This technology is changing the competitive landscape with a fact that an increase in production efficiency by ten percentage points can yield an impact of $220 million to $260 million on the bottom-line.
According to IHS CERA, digital oilfield implementation leads to increase in oil production by 2 to 8% and reduction in operating expense by 5 to 25%. For Instance, some of the major companies investing in digital oilfields include Noble Corp, Statoil and Apache Corp.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Oil & Gas Upstream Activities Market Characteristics
4. Oil & Gas Upstream Activities Market Product Analysis
5. Oil & Gas Upstream Activities Market Supply Chain
6. Oil & Gas Upstream Activities Market Customer Information
7. Oil & Gas Upstream Activities Market Trends And Strategies
8. Impact Of COVID-19 On Oil & Gas Upstream Activities
9. Oil & Gas Upstream Activities Market Size And Growth
10. Oil & Gas Upstream Activities Market Regional Analysis
11. Oil & Gas Upstream Activities Market Segmentation
12. Oil & Gas Upstream Activities Market Segments
13. Oil & Gas Upstream Activities Market Metrics
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/5tyc4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LOS ANGELES--(BUSINESS WIRE)--Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced its participation in several upcoming investor events:
Users can reserve an FF 91 now at: https://www.ff.com/us/reserve
ABOUT FARADAY FUTURE
Established in May 2014, Faraday Future (FF) is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. FF's vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. The FF 91 is not just a car, it is also a Third Internet Living Space, in which users can maximize their digital lives on the road.
FOLLOW FARADAY FUTURE:
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
ABOUT PROPERTY SOLUTIONS ACQUISITION CORP.
Property Solutions Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more differentiated businesses. The company is managed by Co-CEO’s Jordan Vogel and Aaron Feldman.
Property Solutions I is a $230 million SPAC formed in July 2020 and is traded on the NASDAQ under the ticker symbol “PSAC”.
IMPORTANT INFORMATION AND WHERE TO FIND IT
This press release relates to a proposed transaction between PSAC and FF. PSAC intends to file with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a proxy statement and prospectus of PSAC and a consent solicitation statement with respect to FF. The proxy statement/consent solicitation statement/prospectus will be mailed to stockholders of PSAC as of a record date to be established for voting on the proposed business combination. PSAC also will file other relevant documents from time to time regarding the proposed transaction with the SEC. INVESTORS AND SECURITY HOLDERS OF PSAC ARE URGED TO READ THE PROXY STATEMENT, PROSPECTUS AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED BY PSAC FROM TIME TO TIME WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the proxy statement/consent solicitation statement/prospectus and other documents containing important information about PSAC and FF once such documents are filed with the SEC, through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by PSAC when and if available, can also be obtained free of charge by directing a written request to Property Solutions Acquisition Corp., 654 Madison Avenue, Suite 1009, New York, New York 10065.
PARTICIPANTS IN THE SOLICITATION
PSAC and FF and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of PSAC’s stockholders in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of PSAC’s directors and officers in PSAC’s filings with the SEC, including PSAC’s Quarterly Report on Form 10-Q for the period ended September 30, 2020, which was filed with the SEC on November 13, 2020. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to PSAC’s stockholders in connection with the proposed business combination will be set forth in the proxy statement/consent solicitation statement/prospectus for the proposed business combination when available. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed business combination will be included in the proxy statement/consent solicitation statement/prospectus that PSAC intends to file with the SEC.
NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside PSAC’s or FF’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the inability to complete the transactions contemplated by the proposed business combination; the inability to recognize the anticipated benefits of the proposed business combination, which may be affected by, among other things, the amount of cash available following any redemptions by PSAC stockholders; the ability to meet the Nasdaq’s listing standards following the consummation of the transactions contemplated by the proposed business combination; costs related to the proposed business combination; FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving PSAC or FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. Other factors include the possibility that the proposed transaction does not close, including due to the failure to receive required security holder approvals, or the failure of other closing conditions. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the registration statement on Form S-4 and proxy statement/consent solicitation statement/prospectus discussed above and other documents filed by PSAC from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and neither PSAC nor FF undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
FOR FARADAY FUTURE
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DUBLIN--(BUSINESS WIRE)--The "Disruptive Global Pandemic Calls for Business Innovations in the Asia-Pacific Energy and Environment Industry, 2020" report has been added to ResearchAndMarkets.com's offering.
Coronavirus 2019 (COVID-19) has brought in new opportunities and business ideas in the midst of economic disruption. The entire value chain in energy and environment industries is affected and it is almost certain that most industry players will register a decline in growth rates in 2020. However, some immediate and mid- to long-term opportunities are present, and it is imperative that companies take ownership to thread through such trying times with the available opportunities. The need for various innovative and redefined digital platforms and new business models will be more important in the next 1 to 2 years.
Immediate impacts on the energy and environment industries are:
Some of the growth opportunities present in the energy and environment industries are IR 4.0 in Oil & Gas, whereby enormous value can be unlocked through the integration of digital technologies such as 3D printing, 3D printing, artificial intelligence (AI), drones, digital twins, and predictive analytics across the value chain. Another growth opportunity is in wind power generation, where there will be a positive outlook in wind power generation as many countries move towards offshore wind farms; this market will be led by Taiwan and China. In the microgrid segment, behind-the-meter application will come into sharp focus in the ASEAN region in 2020.
Innovative business models for this segment will help power rural areas in the region. Co-working space and flexible workspace will bring mid- to long-term business opportunities. Heightened hygiene and security practices will force operational innovation and technology adoption in this segment; Asia-Pacific is the fastest-growing region in flexible workspace management. In conclusion, most growth opportunities will bring a renewed focus on technologies that promote efficiency and operational cost reduction. With the growing need for digitalization and the increasing prominence of operational efficiency, technology OEMs have to explore new business offerings and/or expand their roles across the industry value chain in order to stay competitive and relevant to their customers.
Key Topics Covered:
1. Executive Summary
2. Scope and Segmentation
3. Key Trends-Oil & Gas
4. Key Trends-Energy
5. Key Trends-Buildings
6. Key Trends-Sustainability
7. Key Trends-Climate Change
8. Growth Opportunities and Call to Action
9. Conclusions
10. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/oiza2a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today outlined its plans through 2025 to increase earnings and cash flow to sustain and grow its dividend, reduce debt and fund advantaged projects, while working to commercialize lower emission technologies in support of the goals of the Paris Agreement.
“We are fully committed to growing shareholder value by meeting the world’s energy demands today and pursuing a technology-driven strategy to succeed through the energy transition,” Darren Woods, chairman and chief executive officer, said at the company’s annual investor day.
“Our investment portfolio is the best we’ve had in over 20 years, and will grow earnings and cash flow in the near term while remaining flexible to market conditions and benefiting from ongoing cost-reduction efforts. Looking ahead, we’re working to reduce our emissions and develop solutions, such as carbon capture and low-carbon hydrogen, needed to de-carbonize the highest emitting sectors of the economy – a critical requirement for society to achieve its net zero ambition.”
ExxonMobil plans capital spending of $16-$19 billion in 2021 and $20-$25 billion per year through 2025 on high-return, cash-accretive projects. Spending plans can be modified to reflect market conditions, as illustrated by successful efforts to preserve the value of investment opportunities while reducing capital spending by more than 30 percent in 2020 as a result of the pandemic. The company also reduced cash operating expenses by 15 percent in 2020 and expects permanent structural savings of $6 billion a year by the end of 2023 versus 2019.
Future spending plans take into account potential market volatility as the economy recovers from the pandemic.
“Our investments are expected to generate returns of greater than 30 percent,” said Woods. “And 90 percent of our upstream investments in resource additions, including in Guyana, Brazil and the U.S. Permian Basin, generate a 10 percent return at $35 per barrel or less. Downstream investments improve net cash margin by 30 percent and our Chemical investments grow high-value performance products by 60 percent.”
To grow shareholder value through the transition to a lower carbon economy, ExxonMobil has focused its extensive research and development portfolio on technologies to address hard to de-carbonize sectors of the economy responsible for approximately 80 percent of energy-related emissions -- commercial transportation, power generation and heavy industry.
The company’s newly created business, ExxonMobil Low Carbon Solutions, was established to commercialize low-emission technologies, and will initially focus on carbon capture and storage (CCS), the process of capturing CO2 that would otherwise be released into the atmosphere from industrial activity, and injecting it into deep geologic formations for safe, secure and permanent storage.
ExxonMobil is the industry leader in CCS technology and has more than 30 years of experience capturing carbon. The company has an equity share in about one-fifth of global CO2 capture capacity and has captured approximately 40 percent of all the captured anthropogenic CO2 in the world. ExxonMobil also produces about 1.3 million tonnes of hydrogen per year and is developing technology that could significantly lower the cost of both CCS and low-carbon hydrogen.
The International Energy Agency projects that CCS could mitigate up to 15 percent of global emissions by 2040 and the authoritative U.N. Intergovernmental Panel on Climate Change (IPCC) estimates that global de-carbonization efforts could be twice as costly without CCS.
Using estimates and demand projections, including from IPCC Lower 2 degree Celsius scenarios, the market for CCS and other low-emission technologies and products is expected to grow significantly by 2040.
“Our development of next-generation technologies and existing businesses positions us well to capitalize on the growing demand for de-carbonization and market opportunities that are increasingly coming together to support lower-carbon energy solutions,” said Woods.
ExxonMobil met its 2020 emission reduction goals that included 15 percent reduction in methane emissions versus 2016 levels, and a 25 percent reduction in flaring versus 2016 levels.
The company’s 2025 emission reduction plans include a 15 to 20 percent reduction in upstream greenhouse gas intensity versus 2016 levels, supported by a 40 to 50 percent reduction in methane intensity and 35 to 45 percent reduction in flaring intensity.
The plans are expected to reduce absolute greenhouse gas emissions by an estimated 30 percent for the Upstream business. Absolute flaring and methane emissions are expected to decrease by 40 to 50 percent under the plans. The company also aims for industry-leading greenhouse gas performance and to eliminate routine flaring in line with the World Bank initiative by 2030.
The company’s investor day presentations are available on its Investor Relations site at exxonmobil.com.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement:
Outlooks; projections; goals; estimates; descriptions of strategic plans and objectives; planned capital and cash operating expense reductions and the ability to meet or exceed announced reduction objectives; plans to reduce future emissions intensity and the expected resulting absolute emissions reductions; emission profiles of future developments; carbon capture results and the impact of operational and technology efforts; future business markets like carbon capture or hydrogen; the impacts of the COVID-19 pandemic and corresponding market impacts on ExxonMobil’s businesses and results; price and market recoveries; energy market evolution; recovery and production rates; rates of return; development plans; future distributions and debt levels; product mix and sales growth; and other statements of future events or conditions in this release are forward-looking statements. Actual future results could differ materially due to a number of factors. These include global and regional changes in the demand, supply, prices, differentials or other market conditions affecting oil, gas, petroleum, petrochemicals and feedstocks; company actions to protect the health and safety of employees, vendors, customers, and communities; the ability to access short- and long-term debt markets on a timely and affordable basis; the severity, length and ultimate impact of COVID-19 and government responses on people and economies; global population and economic growth; reservoir performance and depletion rates; the outcome of exploration projects and the timely completion of development and construction projects; regional differences in product concentration and demand; war, trade agreements, shipping blockades or harassment and other political, public health or security concerns; changes in law, taxes or regulation, including environmental regulations, taxes, political sanctions and international treaties; the timely granting or freeze, suspension or revocation of government permits; the impact of fiscal and commercial terms and the outcome of commercial negotiations; feasibility and timing for regulatory approval of potential investments or divestments; the actions of competitors and preferences of customers; the capture of efficiencies within and between business lines; unexpected technological developments; general economic conditions, including the occurrence and duration of economic recessions; unforeseen technical or operating difficulties; the ability to bring new technologies to commercial scale on a cost-competitive basis, including large-scale hydraulic fracturing projects and carbon capture projects; and other factors discussed here, in Item 1A. Risk Factors in our Form 10-K for the year ended December 31, 2020 and under the heading "Factors Affecting Future Results" on the Investors page of our website at www.exxonmobil.com under the heading News & Resources. The forward-looking statements in this release are based on management’s good faith estimates, plans and objectives as of the March 3, 2021 date of this release. We assume no duty to update these statements as of any future date.
Forward-looking statements contained in this release regarding the potential for future earnings, cash flow, margins, returns, rate of return, future market sizes, cash operating expenses, and net cash margin are not forecasts of actual future results. These figures are provided to help quantify the potential future results and goals of currently-contemplated management plans and objectives including new project investments, plans to replace natural decline in Upstream production with low-cost volumes, plans to increase sales in our Downstream and Chemical segments and to shift our Downstream and Chemical product mix toward higher-value products, continued high-grading of ExxonMobil’s portfolio through our ongoing asset management program, announced and continuous initiatives to improve efficiencies and reduce costs, capital expenditures and cash management, and other efforts within management’s control to impact future results as discussed in this release. These figures are intended to quantify for illustrative purposes management’s view of the potentials for these efforts over the time periods shown, calculated on a basis consistent with our internal modelling assumptions for factors such as working capital, as well as factors management does not control, such as interest, differentials, and exchange rates. Price points referred to in this release are not intended to reflect ExxonMobil’s forecasts for future prices or the prices we use for internal planning purposes.
ExxonMobil-operated emissions, reductions and avoidance performance data are based on a combination of measured and estimated data using best available information. Calculations are based on industry standards and best practices, including guidance from the American Petroleum Institute (API) and IPIECA. The uncertainty associated with the emissions, reductions and avoidance performance data depends on variation in the processes and operations, the availability of sufficient data, the quality of those data and methodology used for measurement and estimation. Changes to the performance data may be reported as updated data and/or emission methodologies become available. ExxonMobil works with industry, including API and IPIECA, to improve emission factors and methodologies. Emissions, reductions and avoidance estimates from non-ExxonMobil operated facilities are included in the equity data and similarly may be updated as changes to the performance data are reported. The data includes XTO Energy performance beginning in 2011.
Definitions and additional information concerning certain terms used in this release including cash operating expense and net cash margin are provided in the Frequently Used Terms available on the Investor page of our website at www.exxonmobil.com under the heading News & Resources and in the March 3, 2021 Analysts’ Day material referenced below. Reconciliations of non-GAAP terms are provided for historical periods but not for future periods. We are unable to provide a reconciliation of forward-looking non-GAAP or other measures to the most comparable GAAP financial measures because the information needed to reconcile these measures is dependent on future events, many of which are outside management’s control as described above. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with our accounting policies for future periods is extremely difficult and requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated in a manner consistent with the relevant definitions and assumptions noted above.
This release references third party scenarios such as the 74 Lower 2°C scenarios, made available through the IPCC SR 1.5 scenario explorer data and the IEA Sustainable Development Scenario. These third party scenarios reflect the modeling assumptions and outputs of their respective authors, not ExxonMobil, and their use and inclusion herein is not an endorsement by ExxonMobil of their likelihood or probability. The analysis done by ExxonMobil on the IPCC Lower 2°C scenarios and the representation thereof aims to reflect the average or trends across a wide range of pathways. Where data was not or insufficiently available, further analysis was done to enable a more granular view on trends within these IPCC Lower 2°C scenarios as described in more detail in the complete March 3, 2021 Analysts’ Meeting presentation referenced below.
The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports. The term “performance products” refers to chemical products that provide differentiated performance for multiple applications through enhanced properties versus commodity alternatives and bring significant additional value to customers and end-users.
This release summarizes highlights from ExxonMobil’s 2021 Analysts’ Meeting held on March 3, 2021. For more information concerning the forward-looking statements, defined terms, and other information contained in this release, please refer to the complete Analysts’ Meeting presentation (including important information contained in the Cautionary Statement and Supplemental Information sections of the presentation) which is available live and in archive form through ExxonMobil’s website at www.exxonmobil.com.
Important Additional Information Regarding Proxy Solicitation
Exxon Mobil Corporation (“ExxonMobil”) has filed a preliminary proxy statement and form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for ExxonMobil’s 2021 Annual Meeting (the “Preliminary Proxy Statement”). ExxonMobil, its directors and certain of its executive officers will be participants in the solicitation of proxies from shareholders in respect of the 2021 Annual Meeting. Information regarding the names of ExxonMobil’s directors and executive officers and their respective interests in ExxonMobil by security holdings or otherwise is set forth in the Preliminary Proxy Statement. To the extent holdings of such participants in ExxonMobil’s securities are not reported, or have changed since the amounts described, in the Preliminary Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Details concerning the nominees of ExxonMobil’s Board of Directors for election at the 2021 Annual Meeting are included in the Preliminary Proxy Statement. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SHAREHOLDERS OF THE COMPANY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO THE SEC, INCLUDING THE COMPANY’S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO AND ACCOMPANYING BLUE PROXY CARD WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and shareholders will be able to obtain a copy of the definitive proxy statement and other relevant documents filed by ExxonMobil free of charge from the SEC’s website, www.sec.gov. ExxonMobil’s shareholders will also be able to obtain, without charge, a copy of the definitive proxy statement and other relevant filed documents by directing a request by mail to ExxonMobil Shareholder Services at 5959 Las Colinas Boulevard, Irving, Texas, 75039-2298 or at This email address is being protected from spambots. You need JavaScript enabled to view it. or from the investor relations section of ExxonMobil’s website, www.exxonmobil.com/investor.
ExxonMobil Media Relations
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COLUMBIA, Md.--(BUSINESS WIRE)--GSE Systems, Inc. (“GSE Solutions” or “GSE”) (Nasdaq: GVP), a leader in delivering and supporting engineering, compliance, simulation, training and workforce solutions that support decarbonization of the power industry, today announced that Kyle Loudermilk, President and Chief Executive Officer, and Emmett Pepe, Chief Financial Officer, are scheduled to participate in the Sidoti Spring 2021 Virtual Investor Conference on March 24-25, 2021. Management will be available for one-on-ones throughout both days. Below are the details for GSE’s group presentation:
Sidoti Spring 2021 Virtual Investor Conference
Date: Wednesday, March 24, 2021
Time: 1:00pm Eastern Time
Link: https://sidoti.zoom.us/webinar/register/WN_ffdrRSPoRSe-l1HV_owXzg
ABOUT GSE SOLUTIONS
We are the future of operational excellence in the power industry. As a collective group, GSE Solutions leverages top skills, expertise, and technology to provide highly specialized solutions that allow customers to achieve the performance they imagine. Our experts deliver and support end-to-end training, engineering, compliance, simulation, and workforce solutions that help the power industry reduce risk and optimize plant operations. GSE is proven, with over four decades of experience, more than 1,100 installations, and hundreds of customers in over 50 countries spanning the globe. www.gses.com
Media Contact
Sunny DeMattio, GSE Solutions
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Investor Contact
Kalle Ahl, The Equity Group
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Asset Servicing Solutions Support Launch and Distribution Strategy for US$2 Billion Sustainable Investment Manager
LONDON & DUBLIN--(BUSINESS WIRE)--Northern Trust today announced it has been selected by Osmosis Investment Management (Osmosis) to provide fund administration, global custody and depositary services for the Osmosis Resource Efficient Core Equity (ex-fossil fuels) Fund in a Collective Investment in Transferable Securities (UCITS) Common Contractual Fund (CCF).
The strategy, which Osmosis developed amid growing investor appetite to remove carbon risk from investor portfolios, will allow institutional investors to target an uncorrelated source of sustainable alpha from their core equity exposure, with a positive environmental focus. This latest addition to its suite of resource efficient strategies brings Osmosis’ ex fossil fuel assets under management to over US$600 million.
The appointment extends the relationship between both organizations – Northern Trust supports several Osmosis funds, including the Osmosis Resource Efficient Equity Market Neutral Fund, launched in 2018.
The CCF is a tax-transparent fund vehicle, allowing its underlying investors to benefit from double taxation treaties to reduce withholding taxes in markets that recognize transparency as if they held the assets directly. Created in 2004 as a solution for cross-border pension fund pooling, tax-transparent funds have developed as an optimum vehicle for asset managers to facilitate cross-border distribution of funds to institutional investors.
Northern Trust services US$297 billion in tax-transparent funds globally (as of 31 December 2020) and its expertise in administering European tax-transparent fund vehicles was among the key reasons for its appointment.
Ben Dear, CEO at Osmosis Investment Management, said, “As we further expand our fund range to meet client demand for sustainable investment strategies, we need to partner with organizations able to deliver flexible, efficient servicing solutions for our investors. Northern Trust’s expertise in supporting tax-transparent fund structures, allied with its ability to deliver pan-European servicing solutions, aligned strongly with our plans for the launch and development of this fund.”
Clive Bellows, head of Global Fund Services Europe Middle East Africa at Northern Trust, comments, “We are delighted to extend our relationship with Osmosis and support them in executing this fund launch. In this case, the use of a CCF supports our client’s growth and distribution strategy – allowing them to draw on the benefits of tax-transparency for their investors and help bring this fund efficiently to market.”
The Osmosis UCITS CCF is supported by Prescient Fund Services (Ireland) Limited (Prescient), which serves as its Irish regulated UCITS management company. Prescient also serves as alternative investment fund manager to the Prescient CCF, also supported by Northern Trust. Osmosis manages Prescient’s original CCF sub-fund, which is regulated under the Alternative Investment Fund Managers Directive (AIFMD).
Rob Childs, head of Business Development at Prescient, added, “Osmosis has been an important client since it launched its first Irish fund on the Prescient UCITS platform in 2012, and we congratulate Ben and his team on their new UCITS CCF and impressive achievements to date.”
Northern Trust’s Global Fund Services business provides fund administration, global custody, depositary, investment operations outsourcing and revenue enhancement solutions to global investment managers – supporting an extensive range of complex investment strategies across the full spectrum of asset classes.
About Osmosis
Osmosis launched in 2009 and is a sustainable asset management business headquartered in London with firmwide assets under management of ~$2.0bn as of 31 December 2020. Government Pension Funds, State Pension Funds, Insurance Companies, Foundations, Endowments, Family Offices and Banks, are amongst its client roster spanning North America, Continental Europe, Nordics, the UK, and Australia.
The Osmosis Model of Resource Efficiency (MoRE) is a proprietary investment database developed and maintained by the team at Osmosis. The MoRE model allows Osmosis to create an objective, sustainable, alpha generating investment factor, through the identification across thirty-two economic sectors of global large cap companies which are generating more revenue whilst consuming less resource than their sector peers. The company’s systematic investment strategies and funds target an improved risk-return profile whilst, importantly, delivering significantly reduced environmental footprints to their relative benchmarks. www.osmosisim.com
About Prescient
Prescient Fund Services (Ireland) Limited is a limited liability company incorporated under the laws of Ireland having its registered office at 35 Merrion Square East, Dublin 2, Ireland and is authorised by the Central Bank of Ireland as a UCITS management company pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2011 (S.I. 352 of 2011) as amended and as an AIFM pursuant to the European Union (Alternative Investment Fund Managers) Regulations 2013 (as amended). As of December 31, 2020, Prescient Fund Services had assets under administration or management of over USD 30 billion globally, of which Prescient Fund Services (Ireland) Limited had over USD 3.9 billion. Prescient Fund Services has over 120 employees globally. www.prescient.ie
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2020, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.
# # #
Europe, Middle East, Africa & Asia-Pacific:
Camilla Greene
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Marcel Klebba
+44 (0) 20 7982 1994
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US & Canada:
John O’Connell
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Renewable Energy Pioneer Partners With U.S. Military To Help Achieve its Sustainability Goals
FRANKLIN, Tenn.--(BUSINESS WIRE)--#bioenergy--Enexor BioEnergy, LLC, has been awarded a contract by the U.S. Army Corps of Engineers (USACE), on behalf of the U.S. Navy, to help solve the U.S. military’s enduring need to divert organic and plastic waste away from landfills and convert into clean, on-site renewable energy.
As part of this contract, Enexor will demonstrate how it can successfully convert representative waste streams, covering all naval installations and vessels, into clean power and thermal energy. The energy will be used to power Enexor’s manufacturing facility in Franklin with the ultimate goal of then deploying Enexor’s system to U.S. Navy facilities around the world.
“We are honored to help the U.S. Navy and the Department of Defense reach their energy resiliency and organic waste diversion goals,” Enexor CEO Lee Jestings said. “Our Bio-CHP systems are modular and can easily be transported by ships, trucks and cargo planes to be rapidly deployed anywhere in the world. The systems will improve energy resiliency while improving the environment in the communities where our servicemembers live.”
Enexor manufactures an on-site, renewable energy solution to help solve the world’s organic and plastic waste problems. The company’s patented Bio-CHP system converts almost any organic, plastic or biomass waste, in any combination, into affordable, renewable power and thermal energy.
Partnering with the U.S. military is an extension of Enexor’s global rollout strategy – placing its renewable energy solutions in the geographies where they are needed most. Enclosed within a 20-foot custom shipping container, Enexor’s Bio-CHP systems are designed to be deployable next to a retail store in the United States, hurricane-exposed areas in the Caribbean or a village in Africa.
From developing countries to island nations, these locations suffer from similar issues of energy poverty and overabundance of organic and plastic waste. By diverting waste and converting it into affordable renewable energy, Enexor creates economic opportunity in the geographies it serves. Enexor’s Energy-as-a-Service business model enables immediate customer cost savings and greater environmental sustainability.
More at enexor.com.
Javier Solano, This email address is being protected from spambots. You need JavaScript enabled to view it., (615) 330-2817
AMSTERDAM--(BUSINESS WIRE)--EVBox Group, a leading provider of smart charging solutions for electric vehicles (“EV”), today announced that the Company will participate in the following investor conferences in March:
In December 2020, TPG Pace Beneficial Finance Corp. (NYSE: TPGY.U, TPGY, TPGY WS), a publicly traded special purpose acquisition company (“SPAC”) formed by TPG, entered into an agreement with ENGIE New Business S.A.S., a wholly owned subsidiary of Engie, to acquire its subsidiary EV Charged B.V. (the “Company”, “EVBox” or “EVBox Group”) for a combination of cash and equity. The transaction will result in EVBox becoming a public company with its common shares and warrants trading on the New York Stock Exchange (“NYSE”) under the ticker symbols “EVB” and “EVB WS”.
Additional information can be found at https://news.evbox.com/en-US/193985-evbox-group-to-become-public-company-via-business-combination-with-tpg-pace-beneficial-finance
About EVBox Group
Founded in 2010, EVBox Group empowers forward-thinking businesses to build a sustainable future by providing flexible and scalable electric vehicle charging solutions. With its extensive portfolio of commercial and ultra-fast EVBox charging stations, as well as scalable charging management software engineered by Everon, EVBox Group ensures that electric mobility is accessible to everyone.
EVBox Group is a leader in R&D, with facilities across Europe and North America developing groundbreaking electric vehicle charging technology. With offices across the globe, including Amsterdam, Bordeaux, Munich, and Chicago, and strong foundations in dozens of markets, EVBox Group is working to shape a sustainable future of transportation.
In 2021, EVBox Group will become a public company listed on the New York Stock Exchange via a business combination with TPG Pace Beneficial Finance (NYSE: TPGY) and initial investors BlackRock, Inclusive Capital, Neuberger Berman Funds, and Wellington Management.
About TPG Pace Group and TPG Pace Beneficial Finance
TPG Pace Group is TPG’s dedicated permanent capital platform. TPG Pace Group has a long-term, patient, and highly flexible investor base, allowing it to seek compelling opportunities that will thrive in the public markets. TPG Pace Group has sponsored five special purpose acquisition companies (“SPACs”) and raised more than $3 billion since 2015.
TPG Pace Beneficial Finance raised $350 million in its October 2020 IPO in order to seek a business combination target that combines attractive business fundamentals with, or with the potential for strong environmental, social and governance (“ESG”) principles and practices. For more information, visit https://www.tpg.com/pace-beneficial-finance.
Investor Contact:
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Media Contacts:
EVBox:
Job Karstens
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+31 (0)6 22 26 55 25
Madeline Vidak
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+31 (0)6 30 71 06 93
TPG/TPG Pace
Luke Barrett
(415) 743-1550
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Tom Johnson/Sheila Ennis
Abernathy MacGregor
(917) 747-6990/(510) 604-8027
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A comprehensive, enterprise AI-enabled solution to generate accurate production forecasts and optimal manufacturing schedules that adapt swiftly to changing market conditions and reduce variable manufacturing costs
REDWOOD CITY, Calif. & HOUSTON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) and C3 AI (NYSE: AI) have announced the launch of BHC3™ Production Schedule Optimization (PSO), an enterprise AI application for industrial demand planning and manufacturing production scheduling. The application improves supply chain and delivery performance for highly engineered products while minimizing manufacturing costs by generating industrial customer demand predictions and optimal production schedules using a holistic view of buyer activity, supply chain materials, and manufacturing and distribution operations.
BHC3 PSO produces accurate demand forecasts for industrial and oil and gas operations as well as defined manufacturing and distribution schedules, factoring in dynamic market conditions, operational constraints, and the inherent uncertainty associated with these operations. BHC3 PSO also generates actionable insights for buyers, sellers, inventory analysts and production schedulers to make near real-time adjustments to production schedules for industrial and oil and gas operations. The application is now generally available to oil and gas and manufacturing businesses globally and is the latest addition to the growing portfolio of BHC3 artificial intelligence (AI) applications from the BakerHughesC3.ai alliance.
BHC3 PSO integrates a wide range of inputs, including feedstock availability, changing market prices, priority customer orders, increasing reworks, and unplanned downtime. With the application, users can optimize goals across manufacturing and distribution activities, including inventory minimization and throughput maximization, while considering operational constraints including storage policy, asset performance, and resource availability.
BHC3 PSO has already demonstrated success with trial customers. For example, a large hydrocarbon processing company that configured BHC3 PSO for a polypropylene plant was able to optimize production schedules and reduce manufacturing costs. After a 16-week trial, the company achieved a 20% improvement in demand forecasting accuracy by generating optimal production schedules without manual adjustment and adopting machine learning models.
“We are committed to leading and advancing the digital transformation of energy operations globally. This application is the latest in a series of new AI solutions we have launched in recent months that allow customers to achieve significant cost reductions, new levels of productivity, and organizational alignment for highly engineered products and industrial plants,” said Ed Abbo, C3 AI president and CTO. “BHC3 Production Schedule Optimization supports discrete, batch, semi-batch, and continuous manufacturing processes in network and multi-stage environments, delivering cost and productivity benefits across midstream and downstream oil, gas, and chemicals operations."
“Enterprise AI has the ability to create value and deliver results for manufacturing across the energy value chain,” said Uwem Ukpong, executive vice president of regions, alliances & enterprise sales at Baker Hughes. “Optimization of the supply chain and reduction of production costs are especially relevant today for energy and industrial businesses. BHC3 Production Schedule Optimization combines the manufacturing and technology expertise of Baker Hughes with C3 AI’s leading technology to help operators better forecast materials production to serve customers.”
For more information about BHC3 product offerings, please visit BakerHughesC3.ai.
About C3.ai, Inc.
C3.ai, Inc. (NYSE:AI) is a leading provider of Enterprise AI software for accelerating digital transformation. C3 AI delivers a family of fully integrated products: C3 AI® Suite, an end-to-end platform for developing, deploying, and operating large-scale AI applications; C3 AI Applications, a portfolio of industry-specific SaaS AI applications; C3 AI CRM, a suite of industry-specific CRM applications designed for AI and machine learning; and C3 AI Ex Machina, a no-code AI solution to apply data science to everyday business problems. The core of the C3 AI offering is an open, model-driven AI architecture that dramatically simplifies data science and application development. Learn more at: www.c3.ai
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
C3.ai Public Relations
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Lisa Kennedy
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Partnership Will Focus on Sustainable Design, Achieving High Environmental Performance and Comfort for WoHo’s Products and Projects
CAMBRIDGE, Mass.--(BUSINESS WIRE)--WoHo (World Home), a technology company that transforms the way spaces are conceived and created, today announced it is working in partnership with Transsolar, an international climate engineering firm that creates climate-responsive built environments. The two companies are collaborating to ensure critical climate principles are applied to the development and manufacturing of WoHo’s foundational low-to-high rise construction components, to meet and exceed sustainability standards.
WoHo’s systems, which are made up of a series of discrete products, can be scaled and configured to span residential and commercial buildings such as multifamily housing, hotels, dormitories, labs and offices. The components are intelligently designed and engineered, and efficiently fabricated and assembled, enabling unprecedented transparency and predictability in the construction and operation of WoHo buildings. WoHo’s systems also deliver flexibility that translates into the customization of each project.
As a specialist in climate and comfort engineering, Transsolar, with the lead of its CEO, Matthias Schuler, will contribute to the integral design approach of WoHo's products and projects with a special focus on the optimization of energy flows and the integration of passive strategies. Through state-of-the-art computer-aided design tools for thermal building simulation, daylight calculation and airflow assessment, WoHo’s systems will deliver highly responsive environments that minimize energy consumption and maximize comfort.
“The construction industry is responsible in large part for the carbon footprint of buildings and users. WoHo is looking at sustainability from all possible angles, from material selection and sourcing to the ultimate design of every component, system and space. We are already making informed decisions that will have a huge impact in the energy consumption and CO2 emissions of WoHo's buildings and factories, both short and long term,” said Debora Mesa Molina, co-founder and president of WoHo. “Matthias and his team are exceptional companions, as we set the stage for achieving our very ambitious climate goals. Transsolar's inventiveness and competence are a great fit for WoHo.”
Leveraging climate engineering in the early stages of designing a structure means the building physics can be adapted to control environmental pollution, conform to energy requirements, and lower costs across the life cycle of the development.
“WoHo’s design and construction mean that having a low carbon footprint does not have to negatively impact affordability or architectural quality,” said Matthias Schuler, founder of Transsolar and Adjunct Professor of Environmental Technology at Harvard University Graduate School of Design. “Its modular approach holds great promise to integrate alternative heating and cooling systems, meet regulatory compliance, as well as be scaled and constructed to address climate challenges.”
WoHo recently announced a collaboration with Arup Engineering to ensure the code compliance and constructability of the high quality structural and MEP systems designed into its building components. The company has finalized the prototyping stage of its Suite System and is currently preparing to develop its first projects in the US and Europe.
About WoHo
WoHo (World Home) is transforming the way spaces are conceived and created, enabling a new way to build. WoHo systems construct low-to-high-rise structures with unprecedented quality, precision and efficiency. By integrating design, manufacturing and assembly, our system allows for quality and collaboration at scale, with maximum efficiency. Find WoHo online at: http://woho.us/
About Transsolar
Transsolar is an international climate engineering firm determined to create exceptional, highly comfortable indoor and outdoor spaces with a positive environmental impact. The firm believes that the very measures taken to create remarkable architecture can simultaneously enhance human experience and minimize resource use. To Transsolar, sustainability is not separate from design, but an indispensable component that enhances the experience of the built environment. To learn more, visit Transsolar at: www.transsolar.com
WoHo
Debora Mesa Molina
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SCHENECTADY, N.Y.--(BUSINESS WIRE)--Distributed Solar Development (DSD) announced today it has secured a two-year, $150 million construction revolver with Rabobank, a global food and agribusiness bank and leader in sustainability-oriented banking, to finance its expanding pipeline of distributed generation solar projects in the commercial and industrial (C&I) market.
The flexible structure of the Rabobank construction revolver aligns strongly with the $300M debt facility that DSD closed with Credit Suisse in late January.
“This construction revolver provides a flexible back leverage solution that will enable us to continue scaling as we work to become an industry hub for the C&I market,” says Greg Fabso, CFO at DSD. “Our expertise and experience enable a true one-stop solution for origination, development, financing, and management.”
The revolver incorporates multiple tax equity partnerships and will deliver capital throughout DSD’s business cycle, including an equipment supply sub-limit.
“Rabobank was delighted to arrange and structure this facility for the DSD team,” says Claus Hertel, Managing Director, Project Finance at Rabobank. “Distributed generation in the C&I space is becoming increasingly relevant and we are thrilled to support a leading developer with strong U.S. growth ambitions.”
About Distributed Solar Development
Distributed Solar Development (DSD) is transforming the way organizations harness clean energy. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD creates significant value for our commercial, industrial and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE with a 120+ year legacy of innovation, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own and maintain. To learn more, visit dsdrenewables.com. Connect with us on LinkedIn and Twitter.
About Rabobank Group
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in 38 countries worldwide. Founded over a century ago, Rabobank today is one of the world’s largest banks with over $765 billion in assets. In the Americas, Rabobank is a premier bank to the food and agriculture industry, as well as a leading project financier of solar, wind, bioenergy, and energy infrastructure projects, providing in-depth knowledge and expertise as well as full arranging, underwriting and syndication capabilities. Rabobank has financed more than 6GW of renewable energy projects to date and is dedicated to supporting the financing of the energy transition and new clean technologies. Additional information is available on our website or on our social media platforms, including Twitter and LinkedIn.
Meghan Gainer
Head of Marketing & Communications, Distributed Solar Development
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Cassie Olszewski
Gregory FCA for Distributed Solar Development
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Catharine Rossano
Executive Director, Marketing & Communications, Rabobank
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SAN FRANCISCO--(BUSINESS WIRE)--Volta Industries, Inc. (“Volta”) today announced that its management team will virtually attend the following investor conferences:
Deutsche Bank EV Startup Virtual Bus Tour
March 5, 2021
Baird Vehicle Technology & Mobility Conference
March 10, 2021
Cowen Mobility Disruption Conference
March 11, 2021
33rd Annual Roth Conference
March 17, 2021
UBS Energy Transition Call Series
March 24, 2021
As previously announced on February 8, 2021, Volta, an industry leader in commerce-centric electric vehicle (“EV”) charging networks, entered into a business combination agreement and plan of reorganization (the “Business Combination Agreement”) with Tortoise Acquisition Corp. II (NYSE: SNPR), a publicly traded special purpose acquisition company with a strategic focus on energy sustainability and decarbonizing transportation. Upon the closing of the proposed transaction, the combined entity will be named Volta Inc. and remain on the New York Stock Exchange (“NYSE”) under the new ticker symbol “VLTA”.
Completion of the proposed business combination is subject to, among other things, the approval of the shareholders of Tortoise Acquisition Corp. II and satisfaction of the other conditions to closing stated in the Business Combination Agreement. All existing Volta shareholders and investors will continue to hold their equity ownership in the combined company, including Volta management and others.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or constitute a solicitation of any vote or approval.
Forward-Looking Statements
The information in this press 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. All statements, other than statements of present or historical fact included in this press release, regarding Tortoise Acquisition Corp. II’s proposed acquisition of Volta, Tortoise Acquisition Corp. II’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Tortoise Acquisition Corp. II and Volta disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Tortoise Acquisition Corp. II and Volta caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of either Tortoise Acquisition Corp. II or Volta. In addition, Tortoise Acquisition Corp. II cautions you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against Tortoise Acquisition Corp. II or Volta following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the shareholders of Tortoise Acquisition Corp. II, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts Tortoise Acquisition Corp. II’s or Volta’s current plans and operations as a result of the announcement of the transactions; (v) Volta’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of Volta to grow and manage growth profitably following the business combination; (vi) costs related to the business combination; (vii) changes in applicable laws or regulations; and (viii) the possibility that Volta may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in Tortoise Acquisition Corp. II’s periodic filings with the Securities and Exchange Commission (the “SEC”), including Tortoise Acquisition Corp. II’s final prospectus for its initial public offering filed with the SEC on September 14, 2020. Tortoise Acquisition Corp. II’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
About Volta
For over a decade, Volta has been building a nationwide electric vehicle charging network to drive the world forward. Named after Alessandro Volta, the inventor of the electric battery, Volta's award-winning charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers. Strategically located in places where consumers already spend their time and money, Volta's chargers are among the most used electric vehicle charging stations in the United States. Headquartered in San Francisco, Volta is bringing to communities the means of building a sustainable fueling network for the 21st century. To learn more, visit www.voltacharging.com
About Tortoise Acquisition Corp. II
Tortoise Acquisition Corp. II (NYSE: SNPR) is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Tortoise Acquisition Corp. II’s expertise spans across the entire energy and infrastructure value chain. Tortoise Acquisition Corp. II’s strategy is to combine with a company to take advantage of the global opportunities created by the energy transition including clean energy generation and storage, alternative fuels and transportation, technological advances and changes in energy policies. To learn more, visit https://tortoisespac.com.
Important Information for Investors and Shareholders
In connection with the proposed business combination, Tortoise Acquisition Corp. II will file a registration statement on Form S-4 (the “Registration Statement”) with the SEC. The Registration Statement will include a proxy statement/prospectus of Tortoise Acquisition Corp. II. Additionally, Tortoise Acquisition Corp. II will file other relevant materials with the SEC in connection with the business combination. Copies may be obtained free of charge at the SEC’s web site at www.sec.gov. Security holders of Tortoise Acquisition Corp. II are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Tortoise Acquisition Corp. II and its directors and officers may be deemed participants in the solicitation of proxies of Tortoise Acquisition Corp. II’s shareholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of Tortoise Acquisition Corp. II’s executive officers and directors in the solicitation by reading Tortoise Acquisition Corp. II’s final prospectus for its initial public offering filed with the SEC on September 14, 2020, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of Tortoise Acquisition Corp. II’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
Volta Investor Relations
Anthony Rozmus
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Company expands ESG lending programs to increase liquidity, expand financing flexibility and improve loan pricing for residential solar panels and geothermal systems
ATLANTA--(BUSINESS WIRE)--MAXEX, the first digital mortgage exchange to enable the buying and selling of residential loans through a single clearinghouse, announced the launch of two new lending programs to support the growth of green energy home improvements. The programs, developed in collaboration with J.P. Morgan, further expand MAXEX’s new Environmental, Social and Corporate Governance (ESG) business line.
The U.S. lacks sufficient low-cost options to help borrowers finance green energy home improvements such as solar panels and geothermal units, despite increasing consumer demand. As a result, borrowers are often forced to pursue high interest rate loans with short maturities, utilize costly leasing options, or forego such improvements altogether.
MAXEX’s new sustainable lending programs expand financing flexibility by providing pricing incentives and enabling borrowers to finance green energy improvements into their mortgage balance at the time of purchase or refinance. This allows homeowners to amortize the cost of these green energy home improvements over a 30-year term at a below market interest rate. These programs are now available to MAXEX’s growing nationwide network of more than 170 community banks, regional banks, credit unions and independent mortgage lenders.
“MAXEX is passionate about leveling the playing field for Main Street banks by using our rapidly-growing digital exchange to deliver low-cost capital that drives social impact,” said Tom Pearce, Chairman and CEO of MAXEX. “These ESG programs fill a significant void in the mortgage market by increasing incentives for green energy improvements.”
MAXEX’s ESG programs for green energy home improvements are available for loan amounts ranging from $400,000 to $3,000,000 and include:
MAXEX launched its ESG business line on December 21, 2020 with MAXEX Opportunity and MAXEX Opportunity Express, which offer preferred pricing for minority, women and veteran-owned lenders. To date, eligible lenders have reached/achieved approximately $600 million in lock trading volume under these programs.
About MAXEX
MAXEX is the first digital mortgage exchange to enable buying and selling residential loans through a single clearinghouse. We connect bank and non-bank lenders with premier investors including Wall Street banks, real estate investment trusts and insurance companies to enable faster, more efficient liquidity. MAXEX is an Atlanta-based technology company led by mortgage experts and financially backed by leading private equity and capital market investors. Learn more by visiting www.maxex.com.
Samantha Hall
For MAXEX
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NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ST. JOHN’S, Newfoundland--(BUSINESS WIRE)--$ARR.TO #renewableenergy--Altius Renewable Royalties Corp. (TSX: ARR) (“ARR” or the “Company”) announced today it has completed its initial public offering (the “Offering”) of 9,100,000 common shares (“Shares”) at a price of C$11.00 per share (the “Offering Price”) for total gross proceeds of C$100,100,000.
Following the completion of the Offering, Altius Minerals Corporation (TSX: ALS) is expected to hold 15,638,639 Shares of the Company or approximately 61% of the issued and outstanding Shares of the Company (or approximately 58% of the issued and outstanding shares of the Company if the over-allotment option is exercised in full).
The Shares previously commenced trading on the Toronto Stock Exchange under the symbol “ARR” on February 26, 2021 on an "if, as and when issued basis". Following the closing of the Offering the Shares will now trade on the TSX on a “regular basis”.
The Offering is being made through a syndicate of underwriters led by TD Securities Inc. and Scotia Capital Inc., together with a syndicate comprised of Raymond James Ltd., Cormark Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc., National Bank Financial and Haywood Securities Inc. (collectively, the “Underwriters”).The Company granted to the Underwriters an over-allotment option to purchase up to an additional 1,365,000 Shares at the Offering Price for additional gross proceeds to the Company of up to C$15,015,000 if the option is exercised in full. The over-allotment option can be exercised for a period of 30 days from the closing date of the Offering.
Brian Dalton CEO of ARR commented, “On behalf of the team I would like to thank our new shareholders for the trust they have placed in us to execute on the building of an innovative renewable energy royalty business that will contribute directly to enabling of the energy transition. With almost 1200 MW of development projects made subject to royalty thus far, we embrace the challenge of creating further growth and positive impact.”
About ARR
ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the final prospectus of the Company dated February 24, 2021. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
For further information:
Flora Wood
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Tel: 1.877.576.2209
Direct: +1(416)346.9020
Ben Lewis
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Tel: 1.877.576.2209
Robust technology platform empowers 1,000+ partner contractors to seamlessly offer loans to finance residential solar systems and other home improvements for both English and Spanish-speaking homeowners via a phone, tablet or computer
NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--Sunlight Financial, a premier, technology-enabled point-of-sale financing company, today announced the addition of Spanish loan products to enhance its industry-leading, proprietary technology platform, Orange®. More than 15,000 professionals use Sunlight’s technology platform to simplify and streamline the sale and installation of residential solar systems and other home improvements.
“We are thrilled to begin providing loans with Spanish documentation to Spanish-speaking homeowners nationwide,” said Sunlight Financial Chief Executive Officer Matt Potere. “The addition of Spanish-language capabilities to our Orange® technology platform will help our solar and home improvement contractors reach a broader group of potential customers to grow their businesses and support the further expansion of solar, specifically, to underserved communities that have had difficulty accessing the market because of language barriers.”
Orange® earns a 4.5+ star rating on the App Store. Sunlight’s proprietary technology platform provides a simple, seamless experience, with instant credit decision making and automated loan underwriting, processing and funding. In addition to Spanish-language documentation, other recent enhancements to Orange® include:
“Each Orange® update raises the bar for what installers and homeowners expect from their financing partner,” continued Potere. “Sunlight’s new Spanish loan products expand our addressable market and deliver the best possible experience for both our partners and homeowners.”
Sunlight partners can download the latest version of Orange® via iOS or Android. Prospective partners can learn more about Sunlight and apply to partner with us at https://sunlightfinancial.com/enroll/.
On January 23, 2021, Sunlight entered into a business combination agreement with Spartan Acquisition Corp. II (NYSE: SPRQ). The business combination is expected to close during the second quarter of 2021. Upon closing of the transaction, the combined public company will be named Sunlight Financial Holdings Inc. Sunlight Financial LLC will be the new public holding company’s sole operating subsidiary and Sunlight’s existing management team will continue to lead the business.
About Sunlight Financial
Sunlight Financial is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
Important Information for Investors
In connection with the transactions (the “Transactions”) contemplated by that certain Business Combination Agreement, dated as of January 23, 2021, by and among Sunlight Financial LLC, a Delaware limited liability company (“Sunlight”), Spartan Acquisition Corp. II, a Delaware corporation (“Spartan”), and their subsidiaries and affiliates party thereto, Spartan will file a Registration Statement on Form S-4 (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”). Additionally, Spartan will periodically file other relevant materials with the SEC in connection with the Transactions. After the Registration Statement has been cleared by the SEC, a definitive proxy statement (the “Proxy Statement”) will be mailed to Spartan’s stockholders. Copies will be accessible free of charge at the SEC’s website at www.sec.gov. SECURITY HOLDERS OF SPARTAN AND SUNLIGHT ARE URGED TO READ (1) THE REGISTRATION STATEMENT, (2) THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO), (3) OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT WILL BE FILED WITH THE SEC BY SPARTAN, AND (4) ADDITIONAL PRESS RELEASES FROM SUNLIGHT AND SPARTAN FOUND ON THEIR RESPECTIVE WEBSITES, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Investor Relations
Garrett Edson, ICR
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888.315.0822
Public Relations
Doug Donsky / Brian Ruby, ICR
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