Just Capital also ranks Exelon fourth in industry for both its investment in workers and reducing environmental impact
CHICAGO--(BUSINESS WIRE)--Exelon secured a #64 ranking on Just Capital’s list of the Top 100 U.S. Companies Supporting Healthy Families and Communities in part, for the company’s treatment of employees during the pandemic, providing additional childcare support and extending sick leave for employees with Covid or who needed to care for a sick family member; efforts to mitigate the impacts of climate change, including the launch of the Climate Change Investment Initiative (2c2i℠); efforts to protect the health and safety of employees by providing proper protective gear and sanitizer and encouraging remote work when possible, and more.
Exelon was evaluated among 100 companies for its performance in five categories: Workers, Communities, Customers, Shareholders and Environment. The company ranked #63 overall and fourth in the industry for both how it invests in employees and reduces its impact on the environment.
“More than ever, we remain committed to our customers and the communities where we operate, particularly as we work to recover from the pandemic and foster a more equitable, just and inclusive economy,” said Chris Crane, president and CEO, Exelon. “As providers of an essential service, we recognize the unique responsibility we have to support our customers, workers and their families and to create opportunities for communities to thrive. This recognition is a credit to our employees who worked through unprecedented challenges to support the communities where we live, work and serve.”
Exelon was also recognized for other efforts to support families and communities, including flexible bill payment options and Exelon utility-provided direct funding assistance for customers suffering pandemic-related economic hardship or job loss, Exelon also contributed $8 million for Covid relief efforts to local communities, including communities of color, which experienced disproportionately greater health impacts and higher rates of unemployment during the last year. And even with the virtual volunteer environment of 2020, more than 4,600 unique employees made time to volunteer 133,243 hours with local nonprofits, an equivalent of 5,550 days of service.
To learn more about how Exelon takes care of its customers and the community, click here.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
Elizabeth Keating
Exelon Corporate Communications
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New York politician, journalist, and lobbyist to assist Viridi Parente’s Chairman, Board of Directors with leveraging safe battery technology to achieve decarbonization goals
BUFFALO, N.Y.--(BUSINESS WIRE)--#APCO--Viridi Parente, Inc., a developer of innovative battery technology that can be safely installed and operated in nearly any environment or location, has named former New York Congresswoman and Google vice president Susan Molinari as senior advisor to the chairman and the company’s Board of Directors.
“New York, like most states, has adopted aggressive goals for decarbonization and is seeking safe, sustainable options for energy reliability and efficiency,” said Jon M. Williams, chairman and CEO of Viridi Parente. “Susan is helping us identify the opportunities and navigate strategies that position our technology as a preferred option for helping these states meet their emission reduction goals. Her counsel and unique insight are invaluable, and we are fortunate to have her enthusiastic support.”
Molinari has a distinguished career as an American politician, journalist, and lobbyist. She served on the New York City Council and then represented Staten Island in the U.S. House of Representatives for three consecutive terms, from 1990 – 1997, before resigning from Congress to become a TV journalist for CBS News. After serving as a leader for international affairs company Omnicom, frequently appearing as a contributor on multiple television networks, and working as a senior principal for the global law firm Bracewell, Molinari became vice president for public policy at Google. She left Google in 2018 and currently works with worldwide consultancy APCO, serving on its International Advisory Council of former elected officials, business leaders, academics, and journalists.
“Viridi Parente’s safe lithium-ion technology is a game-changer,” said Molinari. “Not only will this technology help governments reach their pledged environmental goals, but it comes without the safety risks typically surrounding lithium-ion while providing a reliable energy source for buildings. This is something I want to be part of, especially since the company is bringing green jobs and helping underserved neighborhoods right here in my adopted hometown of Buffalo, New York.”
Viridi Parente deploys safe lithium-ion battery technology into applications that have been historically dominated by fossil fuel energy sources. The company’s architecture for its Green Machine mobile energy solution for the industrial market and its Volta Energy Products energy storage system for industrial, medical, commercial, municipal, and residential users is the only design in the market that can be safely installed and operated in nearly any environment or location. The company’s 42-acre campus, a former GM manufacturing facility, is bringing green jobs and workforce training opportunities to one of the nation’s most impoverished zip codes while also serving as a model of how adaptive reuse projects can spur the economy and revitalize communities.
About Viridi Parente
Viridi Parente (Viridi) is a disruptive energy company in Buffalo, New York, that is changing the way we use energy, improving systems, communities, and lives. Viridi deploys safe lithium-ion battery technology into applications that have been historically dominated by fossil fuel energy sources. Its innovative architecture is constructed from materials used for aerospace and military applications and is the only design in the market that can be safely installed and operated in nearly any environment or location. Through its subsidiary, Green Machine Equipment, Viridi is bringing quiet, fully renewable mobile energy solutions to products in construction equipment, waste disposal, last-mile delivery, and other portable industrial markets. Through its subsidiary, Volta Energy Products, Viridi brings stationary, point-of-use storage technology that is safe, locatable, and reliable to industrial, medical, commercial, municipal, and residential building applications. Learn more at: www.viridiparente.com.
Mercom Communications
Wendy Prabhu
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Projects expand collaboration across all Kuwait fields to increase production and recovery
HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it received a contract from Kuwait Oil Company (KOC), a world leader in digital transformation, to expand KOC’s digital transformation journey by implementing solutions to maximize operational efficiency and increase production. The scope applies to all Kuwait fields including West Kuwait, South and East Kuwait, and Heavy Oil, complementing a recently awarded contract for similar services in North Kuwait.
Halliburton will collaborate with KOC to accelerate their data-to-decisions cycle by implementing automated work processes and digital twins across KOC’s major assets. The solutions will leverage DecisionSpace® 365, Halliburton’s cloud-based subscription service for E&P applications, to automate work processes to accurately plan, forecast, and optimize production throughout the KOC portfolio. Built on an open architecture, the service integrates Halliburton and third-party technologies to enhance operational performance and increase ultimate recovery.
“This award signifies our strong relationship with KOC as we collaborate and innovate across their company-wide digital transformation initiatives,” said Nagaraj Srinivasan, senior vice president of Landmark, Halliburton Digital Solutions and Consulting. “This contract further demonstrates Halliburton’s strategic priority to accelerate the adoption of our digital services. Our software and consulting services will support KOC to optimize their assets, reduce production costs and increase recovery.”
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
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600 V 12 A diodes can replace SiC parts in automotive applications
SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI), the leader in high-voltage integrated circuits for energy-efficient power conversion, today announced its 600 V 12 A Qspeed diode, delivering the industry’s lowest reverse recovery charge (Qrr) for a silicon diode. With a Qrr of just 14 nC at 25 °C, it improves efficiency of the PFC stage of on-board chargers and significantly reduces the thermals of the PFC MOSFETs. The AEC-Q101-qualified QH12TZ600Q offers the same low-switching loss performance of a silicon carbide (SiC) device without the disadvantages of moving to more expensive technology.
Edward Ong, senior product marketing manager at Power Integrations said: “The Qrr of these new Qspeed diodes is half that of the next best ultra-fast silicon diodes, resulting in very high system efficiency. This is particularly important for automotive on-board charger applications that require higher switching frequency to reduce volume and weight, and enables the Qspeed diodes to replace SiC devices.”
The QH12TZ600Q uses merged PiN and Schottky diode technology to achieve high performance. Its smooth reverse recovery current transition characteristics not only increase efficiency, but also reduce EMI and peak reverse voltage stress, eliminating the need for snubbers when used as output rectifiers in on-board chargers. Devices are available in the compact, 2.5 kV isolated TO-220 package which enables direct mounting to metal heat sinking, facilitating excellent thermal performance.
Availability & Resources
The new 600 V 12 A Qspeed diodes are priced at $1.17 in 10,000-piece quantities. For further inquiries contact a Power Integrations sales representative or one of the company’s authorized worldwide distributors: Digikey, Farnell, Mouser, and RS Components.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information, please visit www.power.com.
Media Contact
Diane Vanasse
Power Integrations
(408) 242-0027
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TOULOUSE, France--(BUSINESS WIRE)--The result of an innovative partnership involving the European Association for the Development of Gliding (AEDEVV), Dassault Aviation and the engineering schools of the ISAE Group, the EUROGLIDER project aims to develop an electrically powered two-seater glider for training, release and practice. At the crossroads of several technological challenges, the project is currently in the experimental test phase and will shortly begin preparations for its industrial phase. The ambition of this glider is to be able to carry out complete instructional flights autonomously without having to wait for favorable aerological conditions and while preserving the environment.
The EUROGLIDER project attempts to satisfy the requests of the European gliding training centers. Because of a long waiting period, nearly 2/3 of the new registrants give up before their first "solo" flight. Thanks to its electric propulsion, the EUROGLIDER will be able to link several training flights of more than 40 minutes in an autonomous way and without waiting for favorable conditions. It will therefore allow training organizations to multiply by 3 times their number of school flights over a year while reducing the learning period.
Due to its autonomous take-off, the EUROGLIDER will reduce take-off costs by 60 to 70% compared to the use of a conventional tug plane.
The EUROGLIDER project is part of the application areas of the Clean Sky 2 program launched by the European Commission, which aims at the industrial implementation of new environmental preservation technologies.
The EUROGLIDER meets several challenges:
> An energy challenge: to make it possible for an aircraft weighing more than 600 kg to perform a series of 50 minute flight lessons with a series of climbs above 1,300 meters without ascents, using an optimized onboard energy density.
> A construction challenge to control weight and wing loading: to design a high-performance EASA-certified aerostructure, while reducing the weight of the airframe compared to equivalent non-powered conventional training gliders, with a compatible and controlled production and acquisition cost.
> A challenge in the overall design for operational use: to enable simple and reliable use, reproducing all the characteristics and flight qualities as well as the ergonomics of the usual training gliders for student pilots and instructors; to integrate new innovative and efficient training methods and tools; to facilitate maintenance.
More informations : https://www.ecole-air-espace.fr/euroglider-espace-presse-du-27-mai-2021/
Leïla Colaud
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Loop Energy (TSX: LPEN), a developer and manufacturer of hydrogen fuel cell-based solutions, announces the order of the company’s S300 fuel cell module to Slovakia-based company, Mobility & Innovation a.s. (M&I), to fuel the electric powertrain of their new 8-meter transit bus as part of the company’s M&I composite platform. This order is the first under the commercial agreement signed between the parties, which anticipates over $1.9 million USD in fuel cell shipments from Loop Energy over the next two and a half years.
“This marks the start of a new era in Slovakian bus manufacturing,” said János Onódi, Chief Executive Officer and Co-Owner of Mobility & Innovation a.s. “Combining our best-in-class lightweight composite body truck and our technology with Loop Energy, one of the best fuel cell platforms in the world, is a natural and exciting next step for us.”
M&I is the developer of a lightweight and zero-emission city bus platform, known for its zero emissions powertrain and industry leading GVWR (Gross Vehicle Weight Rating) for a zero-emission transit bus vehicle. Manufactured with laminate composite materials, M&I buses are lighter than comparable steel vehicles. The low-curb weight enables greater passenger capacity, while still meeting even the most stringent of axel load requirements.
To further meet the need for both power density and fuel-efficient energy, M&I has selected Loop Energy to provide their proprietary fuel cell modules. Loop can deliver power and enable a smaller fuel storage system without compromising the weight or range of the bus. The fuel cell system will also aid in improved total cost of ownership for M&I’s customers.
“Mobility & Innovation’s M&I family of vehicles offers a great fit with both municipal and private bus fleet operators’ requirements. We are very excited about being a part of the upcoming launch of the hydrogen electric model of the M&I bus,” said George Rubin, Chief Commercial Officer of Loop Energy. “Municipal transit is a great example of a vertical market with a very strong business case for hydrogen electric vehicles and as a result, we maintain a strong focus on establishing strategic partnerships with bus OEMs across the key geographic markets.”
About Mobility & Innovation a.s.
Mobility & Innovation a.s. is a Slovakia-based company responsible for the development of composite lightweight, zero-emission city bus platform. M&I’s platform is known for its hydrogen electric powertrain and industry leading GVWR (Gross Vehicle Weight Rating) for a zero-emission transit bus vehicle, while its low curb weight enables greater passenger capacity while still meeting even the most stringent axel load requirements. For more information, please visit http://mobility-inovation.sk/hu.html.
About Loop Energy Inc.
Loop Energy is a leading designer of fuel cell systems targeted for the electrification of commercial vehicles, including, light commercial vehicles, transit buses and medium and heavy-duty trucks. Loop’s products feature the Company’s proprietary eFlow™ technology in the fuel cell stack’s bipolar plates. eFlow™ was designed to enable commercial customers to achieve performance maximization and cost minimization. Loop works with OEMs and major vehicle sub-system suppliers to enable the production of hydrogen fuel cell electric vehicles. For more information about how Loop is driving towards a zero-emissions future, visit www.loopenergy.com.
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflect management’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, which 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 ability of the Company to execute on its strategy and the factors discussed under “Risk Factors” in the final long-form prospectus of the Company dated February 18, 2021. Loop disclaims any obligation to update these forward-looking statements.
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Veteran sales executive Kamal Arafeh to build company’s commercial channels as it enters its next phase of growth
VIENNA, Va. & RESTON, Va.--(BUSINESS WIRE)--Today Spire Global, Inc. (“Spire” or the “Company”), a space-based Earth data analytics and solutions company that recently announced a planned merger with NavSight Holdings, Inc. (NYSE: NSH), announced that it has appointed Kamal Arafeh as Senior Vice President of Sales. Mr. Arafeh will report to Peter Platzer, Founder and Chief Executive Officer of Spire, and will be based in Washington, D.C.
As Senior Vice President of Sales for Spire, Mr. Arafeh will be responsible for growing the Company’s sales organization and instituting a world-class partner program. Mr. Arafeh will work closely with each of Spire’s key business units to streamline the sales organization, reach new customer segments, and expanding the Company’s geographic footprint.
“Kamal brings great depth of global sales and operational expertise to Spire, with a proven track record of driving revenue and profit growth across numerous businesses with differentiated technology,” said Mr. Platzer. “We look forward to welcoming Kamal to the Spire leadership team as we continue to execute on our growth strategy and deliver subscription-based data, insights, and predictive analytics to global customers across a range of government agencies and industries. I am confident that we will benefit tremendously from Kamal’s sales channel development expertise as we continue to generate close customer relationships and advance toward the next chapter of our business as a public company.”
Mr. Arafeh most recently served as Vice President for India at Halliburton Company (NYSE: HAL) (“Halliburton”), one of the world’s largest providers of products and services to the energy industry, where he grew revenue and increased the business’s profit by more than 100% within his first twelve months driving growth for the 1,500 person organization. Mr. Arafeh previously was General Manager for Asia Pacific Landmark Software, an Enterprise class software and cloud services business unit of Halliburton, where he was responsible for the revenue performance, profit and loss, compliance, and people management for Landmark Asia Pacific and Australia Region. Prior to joining Halliburton, Mr. Arafeh served as President and Chief Executive Officer at eEye Digital Security. Additional roles held during Mr. Arafeh’s more than two decades of sales experience include Vice President of Sales at Astaro, Vice President and GM at Roxio, and Vice President of Channel Sales at McAfee.
About Spire Global, Inc.
Spire is a global provider of space-based data and analytics that offers unique datasets and powerful insights about Earth from the ultimate vantage point so organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, CA, Boulder, CO, Washington DC, Glasgow, Luxembourg, and Singapore. On March 1, 2021 Spire announced plans to go public through an anticipated business combination with NavSight Holdings, Inc. (NYSE: NSH), to be traded on the NYSE under the ticker symbol “SPIR.” To learn more, visit spire.com.
About NavSight Holdings, Inc.
NavSight Holdings, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. NavSight was organized with the opportunity to pursue a business combination target in any business or industry, with the intent to focus its search on identifying a prospective target business that provides expertise and technology to U.S. government customers in support of their national security, intelligence and defense missions.
Additional Information and Where to Find It
In connection with the planned business combination with Spire (the “Proposed Transaction”), NavSight has filed a Form S-4 Registration Statement (the “Registration Statement”) with the SEC, which includes a preliminary proxy statement to be distributed to holders of NavSight’s common stock in connection with NavSight’s solicitation of proxies for the vote by NavSight’s stockholders with respect to the Proposed Transaction and other matters as described in the Registration Statement, a prospectus relating to the offer of the securities to be issued to the Company’s stockholders in connection with the Proposed Transaction, and an information statement to Company’s stockholders regarding the Proposed Transaction. After the Registration Statement is declared effective, NavSight will mail a definitive proxy statement/prospectus, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about NavSight, the Company and the Proposed Transaction. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by NavSight through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: NavSight Holdings, Inc., 12020 Sunrise Valley Drive, Suite 100, Reston, VA 20191.
Participants in Solicitation
NavSight and the Company and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transaction. Information about the directors and executive officers of NavSight is set forth in its Form 10-K/A and Form 10-Q filed on May 12, 2021 and May 24, 2021, respectively. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, is included in the Registration Statement and other relevant materials filed with the SEC regarding the Proposed Transaction. Stockholders, potential investors and other interested persons should read the Registration Statement carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not 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 such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the federal securities laws with respect to the Proposed Transaction. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the implementation of a world-class partner program, growing and streamlining Spire’s sales organization, reaching new customer segments, expectations of accelerating Spire’s sales and marketing efforts, expectations of product development and the applicability of such products to Spire’s market, the strengthening of Spire’s competitive advantage, the importance of Spire’s products and capabilities to its target markets, the expansion of Spire’s business to new regions and markets, Spire’s future growth, estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, net proceeds from the Proposed Transactions, potential benefits of the Proposed Transaction and the potential success of the Company’s market and growth strategies, and expectations related to the terms and timing of the Proposed Transaction. These statements are based on various assumptions and on the current expectations of NavSight’s and the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of NavSight and the Company. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the risk that the Proposed Transaction may not be completed in a timely manner or at all, which may adversely affect the price of NavSight's securities; (ii) the risk that the Proposed Transaction may not be completed by NavSight's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NavSight; (iii) the failure to satisfy the conditions to the consummation of the Proposed Transaction, including the approval of the Proposed Transaction by the stockholders of NavSight, the satisfaction of the minimum trust account amount following any redemptions by NavSight's public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the inability to complete the PIPE investment in connection with the Proposed Transaction; (v) the failure to realize the anticipated benefits of the Proposed Transaction; (vi) the effect of the announcement or pendency of the Proposed Transaction on Spire’s business relationships, performance, and business generally; (vii) risks that the Proposed Transaction disrupts current plans of Spire and potential difficulties in Spire employee retention as a result of the Proposed Transaction; (viii) the outcome of any legal proceedings that may be instituted against NavSight or Spire related to the business combination agreement or the Proposed Transaction; (ix) the ability to maintain the listing of NavSight’s securities on the New York Stock Exchange; (x) the ability to address the market opportunity for Space-as-a-Service; (xi) the risk that the Proposed Transaction may not generate expected net proceeds to the combined company; (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the Proposed Transaction, and identify and realize additional opportunities; (xiii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (xiv) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive space data analytics industry; and those factors discussed in NavSight’s Form S-4 filed on May 14, 2021 under the heading “Risk Factors,” and other documents of NavSight filed, or to be filed, with the SEC. If any of these risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither NavSight nor the Company presently know or that NavSight and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect NavSight’s and the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. NavSight and the Company anticipate that subsequent events and developments will cause NavSight’s and the Company’s assessments to change. However, while NavSight and the Company may elect to update these forward-looking statements at some point in the future, NavSight and the Company specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing NavSight’s and the Company’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
For Spire Global, Inc.:
Investor Contact:
Michael Bowen and Ryan Gardella
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EagleClaw Midstream Intends To Reach Net Zero GHG Emissions By No Later Than 2050
HOUSTON--(BUSINESS WIRE)--EagleClaw Midstream today announced it has issued its first ESG report and identified bold steps in its plan to achieve net zero greenhouse gas emissions by 2050. This plan will position EagleClaw Midstream to be an industry leader in sustainability and the ongoing energy evolution.
“We are delighted to share news of our sustainability progress in our inaugural ESG report,” said Jamie Welch, President and CEO of EagleClaw Midstream. “We are grateful to have incredibly talented and committed employees, suppliers and customers who all share our vision of working together to collectively stem the impacts of climate change for future generations.”
Company Charts Course to Improve ESG Performance
Although EagleClaw Midstream began reporting ESG results in 2020, efforts were put in place years prior to build robust data gathering, analysis and reporting capabilities to be able to publish this year. Welch noted the Company will continue to pursue innovative and creative ideas that meaningfully improve its short- and long-term performance in addition to creating additional metrics to track performance.
The Company has worked with employees across the organization to develop its roadmap to improve its ESG performance. To achieve its carbon neutrality and methane intensity goals, the Company intends to amongst others:
Beyond these investments in its operations, EagleClaw Midstream pays market competitive salaries and bonuses. In addition, EagleClaw Midstream will implement in 2022 a new performance bonus structure for all its employees, tying 20% of bonuses to the achievement of ESG goals.
EagleClaw Midstream recently formed a Carbon Reduction Task Force to identify solutions to further reduce the company’s carbon footprint toward its long-term goal of net zero GHG emissions by 2050. Welch said the team includes experts in tax, safety and environmental compliance, finance, commercial, accounting, legal, operations, engineering and sustainability, thus bringing a multi-disciplinary approach to this complex challenge.
EagleClaw Midstream expects to achieve single-digit reductions in its carbon emission level by 2025 compared to its 2020 base year. Lowering its carbon output will result from new technology and operational practices to be put in place.
The Company also plans to develop and enact a policy on its commitment to diversity, inclusion and equity, adding to its already comprehensive program that includes required training on diversity and inclusion topics, special events to celebrate cultural heritage of its employees, and guest speakers on D&I topics.
EagleClaw Midstream also will participate in the ONE Future report for 2021, adding even greater transparency as to its progress in reducing methane emissions.
“I am excited to undertake this ESG journey with each and every employee at EagleClaw Midstream. Through our collective efforts, we will achieve our goals and ultimately, our commitment to the environment, safety and well-being of our employees and our commitment to our communities” added Welch.
New 2020 ESG Report Highlights Emissions Reduction, COVID-19 Response
The Company’s 2020 methane intensity rate was .057%, which is approximately 40% below the 2025 ONE Future target of 0.08%. That is a significant achievement in and of itself. EagleClaw Midstream is a member of ONE Future and joined in 2020.
In addition, two critical measures of its safety performance on which there has been significant recent emphasis and focus, Total Reportable Injury Rate (TRIR) and Motor Vehicle Incident Rate (MVIR), have also started to exhibit meaningful improvement, Welch explained.
EagleClaw Midstream also shared details of its recent support to employees and communities in need due to the challenges posed by COVID-19 and the related human health, education and economic consequences on the communities in which the Company operates.
The Company also highlighted its efforts to improve diversity and inclusion:
EagleClaw Midstream also shared that it had executed an agreement to source 100% of the electricity used in operations from renewable energy sources beginning in April of 2021. The Company said it is the first major gathering and processing company in the Permian Basin to procure 100% of its power for operations from renewable energy sources.
Blackstone Senior Managing Director & Global Head of Blackstone Energy Partners, David Foley, and Adil Rahmathulla, Managing Partner of I Squared Capital, added, “We have seen EagleClaw Midstream create and execute an impressive ESG program. We are excited as to the future for EagleClaw Midstream and look forward to seeing even more progress.”
The Company’s ESG report aligns with reporting frameworks established by the Sustainable Accounting Standards Board (SASB), Global Reporting Initiative (GRI) and the Energy Infrastructure Council/Gas Processing Association’s recently released reporting framework.
About EagleClaw Midstream
EagleClaw Midstream is a fully integrated, private midstream company that safely, responsibly, and sustainably operates in the heart of the Delaware Basin with over 650,000 acres under long-term dedication. EagleClaw Midstream is headquartered in Midland and has a significant presence in Houston. EagleClaw Midstream provides comprehensive gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The Company is the largest private gas processor in the Delaware Basin, with 1,320 MMcf/day of capacity and more than 1,400 miles of operated pipelines. EagleClaw Midstream has long-term dedications for gas, crude, and water midstream services from approximately 30 successful and active producers in the Delaware Basin. EagleClaw Midstream is also a partner on the Permian Highway Pipeline project.
For more information, please visit our website at www.eagleclawmidstream.com.
To see EagleClaw Midstream’s inaugural ESG report, click here: https://www.eagleclawmidstream.com/wp-content/uploads/2021/06/EagleClaw_Midstream_2020_ESG_Report.pdf
Jim Schwartz
Senior Director, Corporate Communications & Sustainability
832-571-7457 (mobile) or This email address is being protected from spambots. You need JavaScript enabled to view it.
IRVINE, Calif.--(BUSINESS WIRE)--Enevate, a pioneering battery innovation company featuring extreme fast charge and high energy density battery technologies for electric vehicles (EVs) and other markets, delivers up to 27 percent reduction of carbon dioxide (CO2) emissions for manufacturing of EV batteries with Enevate's XFC-EnergyTM technology compared to today's conventional lithium-ion EV batteries (21 percent for NCA and 27 percent for NMC cells [kg CO2 eq. cradle-to-gate, per 1 KWh cell capacity]).1 These accomplishments have the potential to lower an EV's carbon footprint at the start of life, which is significant because battery manufacturing is the highest contributor of CO2 emissions for the manufacturing of an EV.
Enevate utilizes a higher energy density material and an innovative, ultra-thin multi-layer design in its large format EV cells that meet the demanding EV specifications. Enevate's battery technology strives to provide EV and battery companies with a process for taking measurable, cost-effective steps toward meeting carbon reduction and carbon neutrality requirements. Enevate's goal is to foster widespread adoption of this technology and work to impact the environment positively.
With an estimated 28 million EVs sold per year by the middle of the decade, the automotive industry's role in electric vehicle greenhouse gas reduction has become an important one. To illustrate, a 21 percent greenhouse gas emissions reduction over conventional batteries manufactured in a 100 gigawatt-hour per year lithium-ion EV battery factory would be the equivalent of eliminating driving emissions annually from approximately 511,000 gasoline-only cars or not burning about 265 million gallons of gasoline each year. Please visit Enevate's Reduced CO2 Emissions webpage for more information.
"Enevate's core vision is to develop innovative battery technology that will enable a cleaner and more sustainable environment," said Enevate CEO Robert A. Rango. "By licensing our technology to automotive and battery manufacturers worldwide we hope to make this vision a reality by reducing the carbon footprint of EVs and making the world's environment better, cleaner and healthier."
"The CO2 emission reduction Enevate's battery technology offers is a very desirable contribution to Renault's aim to reach carbon neutrality in Europe by 2040 and worldwide by 2050. Furthermore, it provides another critical milestone to bring this battery technology to sustainable EV production by 2025," said Philippe Schulz, VP Advanced Powertrain Engineering - Groupe Renault.
As the global automotive industry accelerates to EVs and transitions from internal combustion engine vehicles, with growing concerns about sustainability and global warming, environmental impacts have become a central focus for automobile and battery manufacturers, consumers, environmental groups, and governments.
To that end, many companies, including Enevate, utilize a Life Cycle Analysis (LCA) tool to quantify a vehicle's environmental impact throughout its design life, including raw material extraction, manufacturing and assembly of the components, transportation to market, lifetime use, maintenance, and recycling. Enevate leverages its third-party verified, internationally standardized, multi-criteria LCA tool to calculate its battery technology's potential contribution to global warming due to carbon emissions and help our partners reach carbon neutrality.
Last year, Enevate announced its 4th generation XFC-EnergyTM technology, which is positioned to be a game-changer for the EV industry, providing a path to produce extreme fast-charge EV batteries at low cost and high-volume production. Enevate is currently working with multiple automotive OEMs and EV battery manufacturers to commercialize its technology for 2024-2025 model year EVs, utilizing existing manufacturing infrastructure with minimal investment required, a core goal of its development.
ABOUT ENEVATE (www.enevate.com)
Enevate develops and licenses advanced battery technology for electric vehicles (EVs), with a vision of EVs charging as fast as refueling gas cars, accessible and affordable to everyone, and accelerating EVs' mass adoption. With a portfolio of more than 400 patents issued and in process, Enevate's pioneering advancements (leveraging accelerated battery testing and machine learning) in silicon-dominant anodes and cells have resulted in battery technology that features five-minute extreme fast charging with high energy density, low-temperature operation for cold climates, low cost and safety advantages over conventional batteries.
Enevate's vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. The Irvine, California-based company's investors include Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung Venture Investment Corp, Fidelity Management & Research Company, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, Lenovo, CEC Capital, and Bangchak. Enevate®, the Enevate logo, HD-Energy®, and eBoost® are registered trademarks of Enevate Corporation.
1 Enevate CO2 emissions information in accordance with international standards ISO 14044:2006, section 6.1 critical review. Further information available from Enevate Corp., 101 Theory # 200, Irvine, CA 92617.
Bill Blanning
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714-916-4309
MIDLAND, Texas--(BUSINESS WIRE)--Colgate Energy Partners III, LLC (“Colgate”) announced today that, subject to market conditions, it intends to offer for sale in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers $400 million in aggregate principal amount of senior unsecured notes due 2029. Colgate intends to use the net proceeds from this offering to fund a portion of the acquisition of certain assets of Occidental in Reeves and Ward Counties (the “Occidental Acquisition”).
The securities to be offered have not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Colgate plans to offer and sell the notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.
This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This communication includes statements regarding this private placement that may contain forward-looking statements within the meaning of federal securities laws. Colgate believes that its expectations and forecasts are based on reasonable assumptions; however, no assurance can be given that such expectations and forecasts will prove to be correct. A number of factors could cause actual results to differ materially from the expectations and forecasts, anticipated results or other forward-looking information expressed in this communication, including risks and uncertainties regarding future results, Colgate’s ability to complete the Occidental Acquisition, the sources of funding for any remaining portion of the purchase price for the Occidental Acquisition, capital expenditures, liquidity and financial market conditions, sufficiency of cash from operations, adverse market conditions, governmental regulations, the future actions of foreign oil producers such as Saudi Arabia and Russia and the effects of such actions on the supply of oil, and the impact of world health events such as the COVID-19 pandemic.
Michael Poynter
432-695-4222
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) announced today that it recently reached an export agreement with Beacon Offshore Energy Development LLC and its co-owner ShenHai, LLC, a subsidiary of Navitas Petroleum, to provide offshore natural gas gathering and transportation services and onshore natural gas processing services to the Shenandoah development through the Discovery infrastructure in the central Gulf of Mexico. Shenandoah is located 160 miles off the coast of Louisiana in the Walker Ridge area of the Gulf of Mexico.
“Our interconnected offshore and onshore infrastructure allows us to maximize value for our customers by providing a safe, seamless and direct path to market for deepwater producers in the Gulf,” said Micheal Dunn, Chief Operating Officer for Williams. “Our investment in Shenandoah is a strategic expansion of our Gulf of Mexico infrastructure which further strengthens our portfolio of services. We are pleased to provide the entire spectrum of midstream capabilities to Beacon that will capture the full value of these important deepwater resources.”
Facilities to be installed include a five-mile offshore lateral pipeline build from the Shenandoah platform to Discovery’s existing Keathley Canyon Connector pipeline, and additional onshore processing facilities to handle the expected rich Shenandoah production. The new, rich natural gas will be transported to Discovery’s processing plant in Larose, Louisiana, and the natural gas liquids will be fractionated and marketed at Discovery’s Paradis plant in Louisiana.
Shenandoah is expected to come online as early as late 2024.
Williams’ assets in the Gulf of Mexico offer producers the full value chain of capabilities – including gathering, transmission, processing and fractionation. Williams owns and operates 3,500 miles of natural gas and oil gathering and transmission pipeline, along with 1.8 BCF/d of cryogenic processing capacity and 60,000 barrels per day of fractionation capacity serving the Gulf of Mexico. The company has ownership in two floating production platforms, multiple fixed leg utility platforms, and numerous other related facilities.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
MEDIA:
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(800) 945-8723
INVESTOR CONTACTS:
Danilo Juvane
(918) 573-5075
Grace Scott
(918) 573-1092
The solution’s SAP-certified integration with SAP S/4HANA® offers more than 80 productized and certified services
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#IEE--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced today that the interface software ISAIM 2.0 for the product Itron Enterprise Edition™ (IEE) Meter Data Management System (MDMS) version 10.0 has again achieved SAP certification as integrated with SAP S/4HANA®. The integration helps utilities reduce total cost of ownership and lower project implementation costs, with access to more than 80 productized and SAP-certified services through IEE MDMS.
“For more than 15 years, Itron has partnered with SAP with a commitment to product integration,” said Don Reeves, senior vice president of Outcomes at Itron. “This latest certification demonstrates that commitment to ensure integration of the interface software ISAIM 2.0 for the product IEE MDMS version 10.0 with SAP S/4HANA. The long-term collaboration between Itron and SAP means that our customers’ investments in the integration are well preserved. We will adapt to and evolve with new services and functionality as business needs change.”
As utilities undergo digital transformation, it is critical that meter data management (MDM) solutions support rapidly expanding use cases with an increasing volume of data and analytics – at scale. IEE MDMS helps utilities evolve and leverage their data management vision and strategy through a flexible, extensible solution. With this certification, utilities will have access to a wide range of SAP and IEE MDMS-integrated use cases, such as meter configuration, export of interval data, two-way controls like connect/disconnect, billing request and response and more. Utilities have the option to use all 80 services, or a subset, depending on the business needs and requirements.
The SAP® Integration and Certification Center (SAP ICC) has certified that the interface software ISAIM 2.0 for the product Itron Enterprise Edition™ (IEE) Meter Data Management System (MDMS) 10.0 integrates with SAP S/4HANA using standard integration technologies. SAP S/4HANA is a future-ready ERP system, with built-in intelligent technologies, that transforms business processes with intelligent automation and runs on SAP HANA – a market-leading in-memory database that offers real-time processing speeds and a dramatically simplified data model.
“Itron has more than a dozen customers who have implemented integrations with SAP S/4HANA via Itron’s solution, representing more than 25 million endpoints,” added Reeves. “More than half of these customers have been in production for more than 10 years. The integration of the interface software for IEE MDMS with SAP S/4HANA continues to become more robust due to the extensive experience with these customers.”
Itron Enterprise Edition (IEE) Meter Data Management System (MDMS) is an industry-leading data management solution for residential gas, water and electric meters, C&I meters and IoT sensors. The ever-evolving platform provides utilities and cities with the flexibility, value and functionality needed regardless of deployment size. IEE MDMS is one of the most globally deployed meter data management system in the world. The installed base comprises over 100 customers across six continents with more than 45 million meters in production.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Any statements in this release that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to various risks and uncertainties described in SAP’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 20-F, that could cause actual results to differ materially from expectations. SAP cautions readers not to place undue reliance on these forward-looking statements which SAP has no obligation to update and which speak only as of their dates.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices. All other product and service names mentioned are the trademarks of their respective companies.”
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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NEW YORK--(BUSINESS WIRE)--Climate Change Crisis Real Impact I Acquisition Corporation (NYSE: CLII) (“CLII”), a publicly-traded special purpose acquisition company, reminds its stockholders to vote in favor of the previously announced business combination (the “Business Combination”) with EVgo Services LLC (“EVgo”), the nation’s largest public fast charging network for electric vehicles (“EVs”) and first powered by 100% renewable electricity.
Stockholders who owned common stock of CLII as of the close of business on May 19, 2021 (the “Record Date”), may vote their shares. Stockholders as of the Record Date continue to have the right to vote their shares, regardless of whether such stockholders subsequently sold their shares and do not own such shares as of the date they cast their vote.
The special meeting to approve the pending Business Combination (the “Special Meeting”) is scheduled to be held on June 29, 2021 at 10:00 a.m. Eastern Time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at https://www.cstproxy.com/climatechangecrisisrealimpacti/2021.
Additional information on how stockholders of record may vote their shares can be found at https://www.climaterealimpactsolutions.com/cris1-vote.
Every stockholder’s vote is important, regardless of the number of shares held. Accordingly, all CLII stockholders who held shares as of the Record Date who have not yet voted are encouraged to do so as soon as possible and by no later than 10:00 a.m. Eastern Time on June 29, 2021. For the avoidance of doubt, CLII stockholders who owned shares as of the Record Date and subsequently sold all or a portion of their shares are STILL entitled to vote, and are encouraged to do so. CLII’s board of directors recommends you vote “FOR” the Business Combination with EVgo and “FOR” all of the related proposals described in the definitive proxy statement on Schedule 14A (the “Proxy Statement”) filed by CLII with the Securities and Exchange Commission (“SEC”) on May 27, 2021.
These are the two easiest and fastest ways to vote – and they are both free:
Additionally, you can also vote by mail:
YOUR CONTROL NUMBER IS FOUND ON YOUR VOTING INSTRUCTION FORM. If you did not receive or misplaced your Voting Instruction Form, contact your bank, broker or other nominee to obtain your control number in order to vote. A bank, broker or other nominee is a person or firm that acts as an intermediary between an investor and the stock exchange who can help you vote your shares.
If any individual CLII stockholder has not received the Proxy Statement, such stockholder should (i) confirm his or her Proxy Statement’s status with his or her broker or (ii) contact Morrow Sodali LLC, CLII’s proxy solicitor, for assistance via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or toll-free call at (800) 662-5200. Banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400.
Important Information and Where to Find It
In connection with the proposed Business Combination between EVgo and CLII and related transactions (the “Proposed Transactions”), CLII has filed the Proxy Statement with the SEC, which was distributed to holders of CLII’s common stock in connection with CLII’s solicitation of proxies for the vote by CLII’s stockholders with respect to the Proposed Transactions and other matters as described in the Proxy Statement. Investors and security holders and other interested parties are urged to read the Proxy Statement, and any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLII, EVgo and the Proposed Transactions. Investors and security holders may obtain free copies of the Proxy Statement and other documents filed with the SEC by CLII through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: Climate Change Crisis Real Impact I Acquisition Corporation, 300 Carnegie Center, Suite 150, Princeton, New Jersey 08540. 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
CLII and EVgo and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transactions. Information about the directors and executive officers of CLII and EVgo is set forth in the Proxy Statement. Stockholders, potential investors and other interested persons should read the Proxy Statement carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.
Forward Looking Statements
Certain statements in this press release that are not historical facts may constitute forward-looking statements are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding CLII’s proposed business combination with EVgo, CLII’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of CLII and EVgo and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of CLII or EVgo. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the business combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the stockholders of CLII or EVgo is not obtained; failure to realize the anticipated benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to EVgo; the amount of redemption requests made by CLII’s stockholders; the overall level of consumer demand for EVgo’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of EVgo’s customers; EVgo’s ability to implement its business strategy; changes in governmental regulation, EVgo’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to EVgo’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response; stability of EVgo’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 pandemic; the impact that global climate change trends may have on EVgo and its suppliers and customers; EVgo’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, CLII’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect CLII’s or EVgo’s financial results is included from time to time in CLII’s public reports filed with the SEC, as well as the Proxy Statement that CLII has filed with the SEC in connection with CLII’s solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed business combination. If any of these risks materialize or CLII’s or EVgo’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither CLII nor EVgo presently know, or that CLII and EVgo currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect CLII’s and EVgo’s expectations, plans or forecasts of future events and views as of the date of this press release. CLII and EVgo anticipate that subsequent events and developments will cause their assessments to change. However, while CLII and EVgo may elect to update these forward-looking statements at some point in the future, CLII and EVgo specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing CLII’s or EVgo’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
About CLII
CLII is a special-purpose acquisition company (“SPAC”) formed to identify and acquire a scalable company making significant contributions to the fight against the climate crisis. CLII is co-sponsored by private funds affiliated with Pacific Investment Management Company LLC (“PIMCO”), which has more than $640 billion in sustainability investments across its portfolios. CLII is led by a seasoned operations and leadership team that has decades of experience at the intersection of climate change and capitalism, and includes veterans from NRG, Credit Suisse, General Electric and Green Mountain Power. For more information, please visit www.climaterealimpactsolutions.com/.
About EVgo
EVgo is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s charging network serves over 65 metropolitan areas across 34 states, owns and operates the most public fast charging locations in the US. and serves more than 250,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet. EVgo’s parent company is LS Power, a New York-headquartered development, investment and operating company focused on leading edge solutions for the North American power and energy infrastructure sector. On January 22, 2021, EVgo announced that it entered into a definitive business combination agreement with CLII (NYSE: CLII). For more information visit evgo.com and lspower.com.
CLII
For Investors:
Dan Gross
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For Media:
Isaac Steinmetz
Director of Media Relations
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646-883-3655
EVgo
For Investors:
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LS Power
Steven Arabia
Director, Government Affairs & Media Relations
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609-212-3857
BOSTON--(BUSINESS WIRE)--#AccessToEnergy--Schneider Electric, the global leader in the digital transformation of energy management and automation, and Citizens Energy Corporation, a Boston-based non-profit energy company, announced a strategic alliance forged to serve local communities in the Northeast in need of access to sustainable energy sources, as well as to align with initiatives set forth in President Biden’s infrastructure plan.
Advancing green power access for all
Citizens Energy Corporation and Schneider Electric’s partnership is designed to support municipalities across New England and will expand to meet additional needs nationwide. Both public and private partnerships are in place to build projects aiding communities in crisis, while combating climate or other disaster-related outages.
“Schneider Electric is thrilled to solidify our relationship with Citizens Energy through this new strategic alliance,” said Donald Wingate, Vice President, Utility & Microgrid Solutions for Schneider Electric. “Their mission to ensure all people have access to clean energy resources for their basic needs is aligned with Schneider’s values and Sustainability Impact Goals to bring smarter, greener infrastructure to life that contributes to economic growth and climate action.”
Through this innovative partnership, Schneider Electric will support Citizens Energy’s existing storage and microgrid projects across the entire Northeast region, as well as drive new projects on an ongoing basis to benefit local and regional non-profit organizations and municipalities.
“Our partnership with Schneider Electric comes at a time when more communities than ever struggle to access affordable power that mitigates the effects of climate change,” said Citizens Energy’s Founder and Chairman Joseph P. Kennedy II. “As a result of severe weather that has caused widespread power outages, this partnership is designed to protect vulnerable communities. We’re proud to work with Schneider to make the green energy revolution accessible for all.”
Aligning with President Biden’s infrastructure plans
In the wake of President Biden’s recent unveiling of his infrastructure plan, which includes significant investments to reenergize America’s power infrastructure, the partnership arrives at an opportune moment to further invest in the technology that will provide communities with resilient energy sources.
This new partnership presents a valuable opportunity for municipalities to secure funding for energy infrastructure development ahead of any federal spending. The first project to result from this partnership was launched in Spring of this year on behalf of the Daughters of Mary of the Immaculate Conception, a social services institution in Connecticut. Citizens Energy Corporation is funding the microgrid using the Energy-as-a-Service (EaaS) business model allowing construction to be completed without any up-front costs to the Daughters of Mary. Additional projects will aid critical community structures like schools, hospitals, and emergency response centers with microgrid and energy resilience solutions.
Citizens Energy also partners with the Vineyard Wind project, the first large-scale offshore wind project in North America. Citizens Energy is responsible for managing the Resiliency and Affordability Program (RAP) for some of the projects’ host communities. The RAP could result in EaaS projects that benefit low-income residents of communities affected by the offshore wind project.
For more information about Schneider Electric's microgrid solutions, please visit http://www.schneider-electric.us/microgrid. For more information about Citizens Energy Corporation’s renewable energy projects and programs, please visit www.citizensenergy.com/.
About Citizens Energy Corporation
Citizens Energy Corporation is a Boston-based non-profit founded in 1979 by former U.S. Congressman Joseph P. Kennedy II.
Under his leadership as Chairman, Citizens Energy has compiled a 40+ year history of channelling revenues from successful energy ventures in oil, natural gas, electricity trading, energy efficiency and conservation, transmission, wind power, solar arrays as well as energy storage and microgrids to programs that help the underprivileged.
Citizens Energy owns and operates the largest low-income community shared solar project in the country, located in Imperial Valley, California, as well as the largest program of its kind in Massachusetts, in keeping with its goal to make the renewable energy revolution accessible for all. www.citizensenergy.com
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values. www.se.com
Follow us on:
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Hashtags: #Microgrid #LifeIsOn #AccessToEnergy #SchneiderElectric
Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
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LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced the appointment of seasoned executive leader Kerry A. Shiba to the role of Chief Financial Officer, effective July 6, 2021. Mr. Shiba brings more than 30 years of financial expertise to the Romeo Power team including extensive public company management experience. In connection with this appointment, current CFO Lauren Webb will transition to a new role as Chief Strategy and Commercial Officer where she will develop, implement, and manage Romeo Power’s corporate strategy and business development efforts.
“We are all thrilled to welcome Kerry to our team of leaders at Romeo Power,” said Lionel Selwood, Jr., Chief Executive Officer of Romeo Power. “Kerry’s impressive career and his track record of optimizing financial performance and operations at billion dollar public companies stood out to us as we considered adding to our executive team. With Kerry’s financial leadership, I am confident Romeo Power can successfully scale our operations as we continue to transform the commercial and industrial transportation industry.”
Prior to joining Romeo Power, Mr. Shiba served as Chief Financial Officer at Wesco Aircraft Holdings, Inc. (previously, NYSE: WAIR), where he led initiatives to lower costs, boost cash flow, secure financing and improve efficiency. Mr. Shiba also served as Chief Financial Officer at Superior Industries International, Inc. (NYSE: SUP), Remy International, Inc. (previously, NASDAQ: REMY) and Kaiser Aluminum Corporation (NASDAQ:KALU). During his career, Mr. Shiba has led companies through initial public offerings, take-private transactions, and company mergers and acquisitions. Mr. Shiba graduated magna cum laude from Baldwin Wallace College with a Bachelor of Arts in Accounting and Political Science.
“I’m excited to join the dynamic and forward-looking team at Romeo Power, a manufacturing company so deeply committed to securing a sustainable future for the world.” said Mr. Shiba. “Having worked with leading companies in manufacturing, I’m excited to collaborate with a new generation of visionary thinkers and engineers as the team at Romeo Power continues to push the envelope in EV technology innovation.”
In addition to Mr. Shiba’s appointment, Romeo Power also announced the appointment of Yun Han as Chief Accounting Officer. Ms. Han recently served as VP, Corporate Controller at ImmunityBio, Inc. Prior to that, she worked at the PwC's National Office and owned and founded an accounting consultancy group where she supported companies preparing for initial public offerings.
“Together, Kerry and Yun bring the experience, skills and passion we need to continue accelerating the electrification revolution,” said Mr. Selwood, Jr. “These experts will be incredibly well-positioned with Lauren leading cross-functional collaboration and market insights in her new role.”
About Romeo Power
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The company’s suite of advanced hardware, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. Romeo Power's 113,000 square-foot manufacturing facility brings its flexible design and development process inhouse to pack the most energy dense modules on the market. To keep up with everything Romeo Power, please follow the company on social @romeopowerinc or visit romeopower.com.
Romeo Power
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Companies agree to a two-year extension to enhance Sunrun’s sales and installation channel
MESA, Ariz.--(BUSINESS WIRE)--Titan Solar Power today announced an extension of its existing partnership with Sunrun, the nation’s leading home solar, battery storage, and energy services provider. Titan has selected Sunrun as its exclusive power purchase agreement provider for the next two years as part of the partnership. Titan will leverage Sunrun’s well-known and trusted brand with consumers, as well as its industry-leading home solar and battery offering at no-money-down and a low monthly cost, making clean, and reliable energy affordable and accessible to more American homes across the country.
As part of the partnership, Titan will have access to Sunrun’s technology and sales tools, making it easier than ever for partnered sales representatives to sell Sunrun products and deliver an excellent customer experience.
“We pride ourselves on providing our partnered sales dealers with only the best products and tools in the solar industry,” said David Williamson, Titan Solar Power’s CEO and Co-Founder. “This new chapter between Sunrun and Titan will allow our partners’ sales teams to strategically strengthen our footprint in existing markets and fuel our expansion into new states. We are excited for what the future holds with Sunrun.”
Sharing the same mission to help create a planet run by the sun, Titan and Sunrun will help transition Americans away from their dependency on fossil fuels and increase the production of clean, solar energy. Titan has been a Sunrun partner since 2016 and currently installs in 18 states. The company has 35 office locations in its footprint and continues to expand into new markets across the country.
About Titan Solar Power
Titan Solar Power partners with like-minded solar sales companies to deliver world-class installations with industry-leading customer experience. Titan handles all aspects of a solar module installation. “We take pride in our work and know that it will stand the test of time. Solar is what we do and what we excel at.” As a Titan partner, you can rest assured we are just as committed to ensuring every one of your customers are elated with their decision to go solar. https://titansolarpower.com
Titan Solar Power:
Samantha Jones
Director of Public Relations and Marketing
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DUBLIN--(BUSINESS WIRE)--The "Global Solar Panel Recycling Market 2020-2027 by Process (Mechanical, Thermal, Laser, Chemical), Panel Type (Monocrystalline, Polycrystalline, Thin Film), Shelf Life (Early Loss, Normal Loss), and Region: Trend Outlook and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.
Global solar panel recycling market will reach $365.6 million by 2027, growing by 19.3% annually over 2020-2027 driven by the growing demand for clean energy on account of environmental protection, increasing growing adoption of solar power as a renewable source of energy, and rising support of the government toward sustainable development.
This report is based on a comprehensive research of the entire global solar panel recycling market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2017-2019 and provides estimate/forecast from 2020 till 2027 with 2019 as the base year.
Key Players
In-depth qualitative analyses include identification and investigation of the following aspects:
Key Topics Covered:
1 Introduction
2 Market Overview and Dynamics
3 Segmentation of Global Market by Process
3.1 Market Overview by Process
3.2 Mechanical Recycling
3.3 Thermal Recycling
3.4 Laser Recycling
3.5 Chemical Recycling
3.6 Other Processes
4 Segmentation of Global Market by Panel Type
4.1 Market Overview by Panel Type
4.2 Monocrystalline Solar Panels
4.3 Polycrystalline Solar Panels
4.4 Thin Film Solar Panels
5 Segmentation of Global Market by Shelf Life
5.1 Market Overview by Shelf Life
5.2 Early Loss
5.3 Normal Loss
6 Segmentation of Global Market by Region
6.1 Geographic Market Overview 2020-2027
6.2 North America Market 2020-2027 by Country
6.2.1 Overview of North America Market
6.2.2 U.S.
6.2.3 Canada
6.2.4 Mexico
6.3 European Market 2020-2027 by Country
6.3.1 Overview of European Market
6.3.2 UK
6.3.3 France
6.3.4 Germany
6.3.5 Spain
6.3.6 Italy
6.3.7 Russia
6.3.8 Rest of European Market
6.4 Asia-Pacific Market 2020-2027 by Country
6.4.1 Overview of Asia-Pacific Market
6.4.2 China
6.4.3 Japan
6.4.4 India
6.4.5 Australia
6.4.6 South Korea
6.4.7 Rest of APAC Region
6.5 South America Market 2020-2027 by Country
6.5.1 Argentina
6.5.2 Brazil
6.5.3 Chile
6.5.4 Rest of South America Market
6.6 MEA Market 2020-2027 by Country
6.6.1 UAE
6.6.2 Egypt
6.6.3 South Africa
6.6.4 Other National Markets
7 Competitive Landscape
7.1 Overview of Key Vendors
7.2 New Product Launch, Partnership, Investment, and M&A
7.3 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/53zk1d
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Madagascar-based terminal enhances operations to better service customers in key global markets
OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced today that Madagascar International Container Terminal Limited (MICTSL), operated by ICTSI Group, has gone live with the latest version of its flagship TOS, Navis N4 3.8. MICTSL has been running on N4 since 2013, and is one of the first ICTSI operated locations to upgrade to the newest version of the TOS.
Strategically located on the eastern coast of Madagascar, MICTSL is a key facility in the Indian Ocean connecting African and Asian trade. MICTSL is considered the leading operating terminal within the Indian Ocean Islands and is among the top performers in sub-Saharan Africa. Operating at 250,000 TEU annually, MICTSL is the gateway of Madagascar with over 90% of the country's containerized cargo handled by the terminal, and as a result of the heavy traffic, they needed a reliable TOS to keep up and scale with their business for better operations.
“We pride ourselves in delivering the best possible service to our customers and upgrading our operations to a more modern TOS is important to help our terminals achieve our goals and to remain competitive in the industry,” said Guido Heremans, CEO of MICTSL. “As a long-time Navis customer, we are looking forward to seeing the business impact at MICTSL from the N4 upgrade, and hope to strengthen and streamline our processes for all of our stakeholders with the more modern solution.”
“As global trade is more critical than ever, it is important that we are able to provide solutions to our customers to keep cargo flowing around the world,” said Jacques Marchetti, General Manager, EMEA at Navis. “ICTSI Group has been a great partner over the years and we are excited to assist MICTSL in reaching their operational and business goals with the latest version of N4. We look forward to continuing our partnership and hope to upgrade our TOS in the other terminals they operate in the near future.”
To learn more, visit www.navis.com.
About Navis, LLC
Navis, a part of Cargotec Corporation, is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com
About Cargotec Corporation
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed United Nations Global Compact’s Business Ambition for 1.5°C. The company’s sales in 2020 totalled approximately EUR 3.3 billion and it employs around 11,500 people. www.cargotec.com
About International Container Terminal Services, Inc. (ICTSI)
Headquartered and established in 1988 in Manila, Philippines, International Container Terminal Services, Inc. (ICTSI) is in the business of port development, management and operations. ICTSI’s portfolio of terminals and projects are located in developed and emerging market economies in the Asia Pacific, the Americas, and Europe, the Middle East and Africa. Independent with no shipping or consignee-related interests, ICTSI works and transacts transparently with all stakeholders of the supply chain. ICTSI continues to receive global acclaim for its public-private partnerships, which are focused on sustainable development, and supported by corporate social responsibility initiatives. (www.ictsi.com)
Jennifer Grinold
Navis, LLC
T+1 510 499 7621
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TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) announced today it has closed the previously announced acquisition of the assets of a retail propane distribution company based in South Carolina, operating under the tradename, Freeman Gas and Electric Co., Inc. (“Freeman”). The purchase price was paid with cash on hand.
"I am excited to welcome the Freeman employees and customers to the Superior Plus Propane family,” said Luc Desjardins, Superior’s President and CEO. “We’re looking forward to expanding our footprint in the Southeast U.S. and growing our business in this attractive market.”
Updated 2021 Adjusted EBITDA Guidance
Based on results of the first quarter and the expected contribution from Freeman for the remainder of the year, Superior is updating the 2021 Adjusted EBITDA guidance of $370 million to $410 million to a range of $380 million to $420 million, which increases the midpoint from $390 million to $400 million.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing over 780,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit our website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Investor Relations and Treasurer, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll Free: 1-866-490-PLUS (7587).
Forward Looking Information
This press release contains certain forward-looking information within the meaning of applicable Canadian securities laws which is provided for the purpose of presenting information about management’s current expectations and plans. Readers are cautioned that such information may not be appropriate for other purposes. Superior’s actual results could differ materially from those expressed in, or implied by, this forward-looking information, and accordingly, no assurances can be given that any of the results anticipated by the forward-looking information will transpire or occur. Forward-looking information is predictive in nature, depends upon or refers to future events or conditions, or includes words such as “approximately”, "anticipated”, “will”, “guidance”, and similar expressions. In particular, this news release contains forward-looking statements with respect to, among other things, the expected contribution of Freeman for the remainder of the year and the impact on Superior’s 2021 Adjusted EBITDA guidance.
Forward-looking information is not a guarantee of future performance. Forward-looking information contained herein is based on various assumptions and expectations that Superior believes are reasonable in the circumstances, however, they are subject to the risks and uncertainties set forth below and no assurance can be given that these assumptions and expectations will prove to be correct. These assumptions and expectations are based on information currently available to Superior, including information obtained from third party industry analysts and other third-party sources, as well as on management’s current plans and its perception of historical trends, the historic performance of Superior’s business segments, current conditions and expected future developments. By its very nature, forward-looking information involves inherent assumptions, risks and uncertainties, both general and specific, and risks that predictions, forecasts, projections and other forward-looking information will not be achieved, including risks relating to the future operating performance of Freeman risks relating to the future operating and financial performance of the Energy Distribution business and the risks and assumptions identified in (i) Superior’s first quarter MD&A under the heading "Risk Factors" and (ii) Superior's most recent Annual Information Form, both of which are filed electronically at www.sedar.com. The preceding list of assumptions, risks and uncertainties is not exhaustive. When relying on Superior’s forward-looking information to make decisions with respect to Superior, investors and others should carefully consider the preceding factors, other uncertainties and potential events. For the reasons set forth above, investors and others should not place undue reliance on forward-looking information.
Any forward-looking information is made as of the date hereof and, except as required by law, Superior does not undertake any obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.
Non-GAAP Financial Measures
In this press release, Superior has used the following terms that are not defined by International Financial Reporting Standards (“Non-GAAP Financial Measures”), but are used by management to evaluate the performance of Superior and its business: Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). This measure may also be used by investors, financial institutions and credit rating agencies to assess Superior’s performance. Non-GAAP financial measures do not have standardized meanings prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other companies. Securities regulations require that Non-GAAP financial measures are clearly defined, qualified and reconciled to their most comparable GAAP financial measures. Except as otherwise indicated, this Non-GAAP financial measure is calculated and disclosed on a consistent basis from period to period. Specific items may only be relevant in certain periods. See “Non-GAAP Financial Measures” in Superior’s most recent Management Discussion and Analysis (“MD&A”) for a discussion of Non-GAAP financial measures and certain reconciliations to GAAP financial measures.
The intent of Non-GAAP financial measures is to provide additional useful information to investors and analysts, and the measures do not have any standardized meaning under IFRS. The measures should not, therefore, be considered in isolation or used in substitute for measures of performance prepared in accordance with IFRS. Other issuers may calculate Non-GAAP financial measures differently. Investors should be cautioned that Adjusted EBITDA should not be construed as an alternative to net earnings, cash flow from operating activities or other measures of financial results determined in accordance with GAAP as an indicator of Superior’s performance. Non-GAAP financial measures are identified and defined as follows:
Adjusted EBITDA
Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization, losses (gains) on disposal of assets, finance expense, restructuring costs, transaction and other costs, and unrealized gains (losses) on derivative financial instruments. Adjusted EBITDA is used by Superior and investors to assess its consolidated results and ability to service debt. Adjusted EBITDA is reconciled to net earnings before income taxes.
Beth Summers, Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
or
Rob Dorran, Vice President, Investor Relations and Treasurer
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll Free: 1-866-490-PLUS (7587).
Once constructed, Grizzly Ridge solar installation will help serve increasing demand for renewable energy in Texas
OVERLAND PARK, Kan.--(BUSINESS WIRE)--To help address growing demand for solar energy generation in the southwestern U.S., Diode Ventures (Diode), a Black & Veatch company that develops global infrastructure projects, announced today that has reached financial close on the Grizzly Ridge Solar Project, a nearly 140-megawatt (MW) utility-scale solar field located in Hamilton County, Texas. The project was co-developed with RKB Energy, LLC (RKB).
In Texas, favorable economics, regulatory support and a streamlined permitting process are driving significant growth in solar energy development; analysts estimate that installed capacity will reach 1.6 gigawatts (GW) of solar across the state by 2022. Once complete, Grizzly Ridge, a utility-scale solar field located outside Fort Worth, Texas, will provide 137.7 MW dc/100 MW ac to the ERCOT North Zone, a growing economy and power market where there is high demand for all forms of electricity.
“Grizzly Ridge is one of the first utility-scale solar projects that Diode developed from the ground up, marking a significant milestone for the company when it comes to pure greenfield development projects,” said Brad Hardin, president of Diode. “In Texas, we are seeing more resilient infrastructure development on the horizon to support large-scale energy generation from both renewable and non-renewable sources.”
Diode partnered with RKB – a greenfield, utility-scale solar development company that currently focuses on the West and Southwestern regions of the U.S. – to assist with co-development activities of the project, from origination to sale.
“Diode Ventures has been an excellent partner in the Grizzly Ridge Solar project,” said Robert Schleider, president of RKB. “We are excited to see this project enter the build phase of its life cycle and believe it is a great project for Hamilton County and the State of Texas.”
The project is construction-ready, with an executed interconnection agreement with Brazos Electric Cooperative, the transmission service provider. The area will also undergo an upgrade from 69 kilovolts (kV) to 138 kV, reflecting this significant growth in demand. Diode is currently in discussions to add an on-site battery energy storage system to the project, reinforcing its reliability and resilience.
“The Grizzly Ridge Solar Project is an exciting development in a region of the country that continues to see significant demand growth,” said Paul Ksiazek, senior project director with Diode. “The environmental, economic and local tax benefits are noteworthy, and the project will benefit the ERCOT energy portfolio.”
Editor’s Notes:
About Diode Ventures
Diode Ventures is a developer of energy and data infrastructure, serving the commercial, industrial and technology sectors. With our partners, we offer our clients development services including site selection, capital assembly, project financing, EPC and O&M. Diode Ventures is a wholly owned subsidiary of Black & Veatch with a global presence in more than 100 countries. To learn more, visit www.diodeventures.com.
About Black & Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.
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