TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB) is pleased to publish its second Sustainability Report which outlines its established environmental, social and governance (“ESG”) practices. The report includes insight into Superior’s 2021 operations and future milestones, and the Sustainability Report is available at www.superiorplus.com/investor-relations/financial-reports/.
“The release of our second Sustainability report with improved disclosure demonstrates our focus on prioritizing ESG in our operations,” said Luc Desjardins, President and Chief Executive Officer. “We are also developing an enterprise-wide sustainability strategy, supported by meaningful targets as we move forward on our carbon reduction and energy transition initiatives.”
Mr. Desjardins further added, “Superior’s resilient base business model and strong track record on execution positions us well to capture growth opportunities through the transition to a lower carbon energy environment. We are also evaluating opportunities for our existing and prospective commercial customers to help them decarbonize their operations through new product offerings, including green hydrogen and low carbon propane.”
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing approximately 890,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit Superior’s 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, Capital Markets, 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 news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to the development of an enterprise-wide sustainability strategy supported by meaningful targets. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release, regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2021, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
Rob Dorran
Vice President, Capital Markets
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)
PORT CANAVERAL, Fla.--(BUSINESS WIRE)--ABS has signed a joint development project (JDP) with SpaceX to review the remotely controlled functions of autonomous rocket recovery droneships used for booster rocket recovery at sea.
The rocket recovery droneships are modified to include an expanded deck to increase the size of the landing platform, four thruster engines for propulsion and to hold on station, and blast shielding to protect electrical and engine equipment on deck. The droneships are entirely unmanned during landings, with a robot deployed on board to secure the rocket booster to the droneship before the vessel returns to port.
The project will review the design of one of SpaceX’s three rocket recovery droneships for compliance with the ABS Guide for Autonomous and Remote-Control Functions. Due to the unique and challenging operating requirements, ABS will apply a risk-based approach to the evaluation of the autonomous functions.
“Through our work on autonomous and remote-control technologies in projects with leading partners all over the world, ABS has been leading the way in supporting its practical application at sea. This makes us ideally placed to work with SpaceX on its unique and exciting project. We are proud that our capabilities in this area have been recognized by a true pioneer such as SpaceX,” said Patrick Ryan, ABS Senior Vice President, Global Engineering and Technology.
ABS is a world leader in supporting the development of autonomous and remote-control functions at sea. A remotely operated harbor tug developed by Keppel Offshore & Marine was the first in the world to receive the ABS REMOTE-CON Notation in October 2021.
A copy of the ABS Guide for Autonomous and Remote-Control Functions can be downloaded here.
About ABS
ABS, a leading global provider of classification and technical advisory services to the marine and offshore industries, is committed to setting standards for safety and excellence in design and construction. Focused on safe and practical application of advanced technologies and digital solutions, ABS works with industry and clients to develop accurate and cost-effective compliance, optimized performance and operational efficiency for marine and offshore assets.
For more information, contact ABS Media Relations: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Biodiesel - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Biodiesel Market to Reach US$40.2 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Biodiesel estimated at US$30.7 Billion in the year 2020, is projected to reach a revised size of US$40.2 Billion by 2026, growing at a CAGR of 4.6% over the analysis period.
The global biodiesel market is driven by the increasing need for clean and renewable fuel sources. There is rising environmental consciousness leading to a preference for environment-friendly fuel. The soaring prices of non-renewable sources of energy such as due to their limited resources are driving focus onto alternative fuels. The main factor which influences growth is the rising concern over gas emissions by fossil fuels.
Government policies favoring the promotion of sustainable projects that save energy and protect the environment are important drivers of growth in the biodiesel market. Advanced biofuels and ethanol are being promoted by the US Environment Protection Agency (EPA) through mandates and regulations.
There is a growing demand for biodiesel for use in commercial cars to reduce usage of crude oil. Fuel oil blended biodiesel fuel blends are being researched to reduce dependence on petroleum in the transportation sector. Also favoring market growth is the continuous focus on research activities aimed at developing biodiesel products that can replace crude oil.
Vegetable Oils, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$33 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Animal Fats segment is readjusted to a revised 4.3% CAGR for the next 7-year period. Vegetable oils are easily available, renewable, biodegradable, easy to transport, and provide high heat content. Most of the companies use vegetable oils to produce biodiesel on account of its higher yield and renewability.
The U.S. Market is Estimated at $5.2 Billion in 2021, While China is Forecast to Reach $2.2 Billion by 2026
The Biodiesel market in the U.S. is estimated at US$5.2 Billion in the year 2021. The country currently accounts for a 16.2% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.2 Billion in the year 2026 trailing a CAGR of 5.9% through the analysis period.
Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 4.2% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR while Rest of European market (as defined in the study) will reach US$6 Billion by the end of the analysis period.
Europe represents the leading region in the global biodiesel market. The region's large share is due to the several government initiatives and regulations aimed at reducing greenhouse gas emissions. Biodiesel fuel consumption is on the rise in Europe on account of the government laws and programs and energy taxation regimes.
The US is among the major producers and consumers of biodiesel. Increasing use of biodiesel in the United States is mainly driven by the presence of favorable legislations. Asia-Pacific region represents a promising market for biodiesel.
Due to rapid industrialization and increase in demand for liquid fuel in power and transport sectors in emerging countries such as Indonesia, China, India, Thailand, and Malaysia, Asia Pacific will witness high growth in the coming years.
Transportation Fuel (Application) Segment to Reach $20.6 Billion by 2026
Biodiesel is increasingly playing a role as a fuel in automobiles, railways, agriculture, and maritime operations. Biodiesel has improved efficiency compared to gasoline and is useful for compression-ignition engines.
Biodiesel is used in its pure form i.e. B100 or in the form of a blend with conventional petroleum diesel. Some of the blends of biodiesel include B2, B5 and B20, referring to 2%, 5% and 20% of biodiesel content, respectively. In the global Transportation Fuel (Application) segment, USA, Canada, China and Europe will drive the 4.9% CAGR estimated for this segment. T
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 152 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/hx82tj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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TUCSON, Ariz.--(BUSINESS WIRE)--#Licerion--Sion Power Corporation (Sion Power) announced it has appointed Mack Treece as its Chief Financial Officer. Mr. Treece brings more than 30 years of experience in senior leadership positions with a specific focus on successfully scaling young companies into dominant market positions.
“Sion Power is extremely fortunate to have Mack join our team,” says Tracy Kelley, Chief Executive Officer of Sion Power. Kelley goes on to say, “His extensive strategic and financial experience in the energy sector will be essential as we enter into the next stage of commercial EV development.”
“I believe Sion Power is at the forefront of commercializing an advanced lithium metal battery for electric vehicles (EVs) that will significantly increase the energy density versus existing EV battery solutions, and I am excited to join Tracy and the Sion Power team as we enter the next phase of the journey,” said Mr. Treece.
Before joining Sion Power, Mr. Treece was with EOS Energy Storage, where he held the position of Chief Financial Officer (CFO) before becoming the Chief Strategic Alliances Officer for the company.
Treece has earned a B.S. in Finance and Marketing from the University of Virginia and an MBA in International Finance from Widener University.
About Sion Power
Sion Power advances the rechargeable battery industry with its Licerion® technology. Licerion® is an advanced approach to lithium-metal batteries containing twice the energy in the same size and weight battery, compared to a traditional lithium-ion battery. At up to 500 Wh/kg, Licerion batteries are produced at scale in large-format cells. As a result, Licerion® batteries have the potential to significantly enhance the performance of commercial and consumer electric vehicles. Visit Sion Power on the web at www.sionpower.com.
Angela Kliever
Dir., Marketing
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today released the following statement in response to a letter from President Biden.
We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period.
Globally, we’ve invested double what we’ve earned over the past five years -- $118 billion on new oil and gas supplies compared to net income of $55 billion. This is a reflection of the company’s long-term growth strategy, and our commitment to continuously invest to meet society’s demand for our products.
Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery. We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand.
In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and some fuel specifications to increase supplies. Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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DUBLIN--(BUSINESS WIRE)--The "US Solar Roofing Market 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The industry study analyzes the rapidly growing US solar roofing industry. It presents historical demand data (2020) and forecasts (2025 and 2030) by market (residential and commercial), application (new and retrofit), and region (Northeast, Midwest, South, West) and sub-region. The study also provides outlooks for US electric generation, solar roofing installation costs, and pricing, as well as analysis of leading industry participants.
The market for solar roofing products in the US is forecast to increase rapidly to 716,000 squares, valued at $965 million in 2025. The expanding impact of solar-friendly policies in a growing number of states and localities nationwide will be a key driver of growth, particularly in the large California market, where revisions to the state building code will mandate almost all new buildings to install solar products starting in 2023.
Other factors supporting long-term growth for solar roofing products include:
California Mandates Mark Major Victory for Solar Roofing Industry
California further advanced its lead in the national solar roofing market with the passage of two mandates in 2020 and 2021 requiring nearly all new residential and commercial buildings in the state to include solar products starting in 2023. While such mandates have been passed before in cities such as San Francisco and South Miami, Florida, this marks the first such mandate in the country to be adopted at the state level.
In addition to significantly increasing solar roofing sales in the state, the California mandates are expected to influence other states to pass legislation promoting solar installations. Environment America, the organization that helped drive the California mandates, plans to launch similar campaigns in 10 additional states in 2022.
Rapid Growth Projected for South due to Favorable Climate & Expanding Incentives
The South is expected to experience triple-digit growth through 2025 and will surpass the Northeast as the second leading regional market for solar roofing, accounting for 7% of sales. Advances will be supported by the region's sunnier (and thus more favorable) climate for solar-electric generation and the growing availability of incentives in states - particularly Delaware, Maryland, Florida, and the Carolinas - as well as localities (e.g., Austin, Texas; New Orleans, Louisiana).
Climate Actions Plans Boost Solar Installations, Even in Less Sunny States
Solar energy is expected to account for 6% of total US electricity generation in 2030. While most reliable and cost-effective in areas with abundant sunshine (e.g., Arizona, California, Florida), solar-electric generation is also increasing as a renewable supplement to fossil fuels in the Northeast and Midwest, where a growing number of states and localities offer incentives to install solar products to increase their mix of renewable energy sources.
As more property owners become aware of the benefits of installing solar products - including increased property values, improved energy efficiency, and tax credits, rebates, and other incentives - penetration of solar roofing will increase in both commercial and residential roofing markets.
Key Topics Covered:
1. Executive Summary
2. About This Report
3. Overview
4. Factors Impacting Solar Roofing Demand
5. Regional Trends
6. Key Suppliers & Market Share
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/dvnio2
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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200-Megawatt Solar Facility Brings Significant Benefits to Frio County and Provides Emission-free Energy to Verizon
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy (“LRE” or “Company”) today announced the beginning of construction of the 200-megawatt (MW) Horizon Solar project near the city of Pearsall in Frio County, Texas. A groundbreaking ceremony was held earlier today.
The project will create approximately 400 construction jobs, and the Company is committed to hiring local qualified workers. In addition to job creation, Horizon Solar will provide numerous benefits to the local community, including significant economic investment, approximately $30 million in tax payments for the County and schools, and 500,000 MWh annually of emission-free renewable energy. The project is expected to reach commercial operation by the fourth quarter of 2023.
“We are pleased to begin construction at our Horizon Solar project,” said Omar Aboudaher, LRE’s vice president, development. “Today marks another important milestone in the development of the 200-MW Texas solar facility, bringing LRE one step closer to providing clean, renewable energy. We thank the community and officials of Frio County for their support and look forward to a long-term partnership.”
“The Horizon Solar project represents meaningful progress for Frio County,” said Hon. Arnulfo C. Luna, Frio County Judge. “The economic impact to our County and schools will make a real difference to our community. We’re proud and excited to welcome Horizon Solar to our community.”
LRE previously announced four 15-year Renewable Energy Purchase Agreements with Verizon Communications Inc. (“Verizon”), through which Verizon will purchase the energy generated at Horizon Solar, in addition to energy generated by three other LRE projects. Horizon Solar will also provide reliable, renewable energy, and offset the equivalent emissions of more than 40,000 average Texas households. The project will include solar components from leading American-based companies, including solar modules from First Solar and smart solar tracker solutions from NexTracker.
“At Verizon, we are committed to reducing our impact on the planet through proven sustainable and socially responsible strategies and programs,” said James Gowen, Verizon's chief sustainability officer and senior vice president, global supply chain. “The latest development in our work with LRE helps build a greener U.S. energy grid, and the Horizon Solar project facility is another key component on our way to achieving net zero emissions in our direct operations by 2035.”
Once completed later next year, Horizon Solar will be LRE’s second operational solar project in Texas where the company is currently operating the 30-MW Barilla Solar project. In total, LRE will have over 1,200 MW of contracted solar projects in operation by end of 2023 and has approximately 16 gigawatts of solar projects in development and construction. The company is well-positioned to grow its renewable energy platform at an accelerating pace, prioritizing safety and responsible development.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction spanning over 100 projects. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$121 billion in net assets (as at December 31, 2021). For more information, visit www.leewardenergy.com.
Kelly Kimberly
713.822.7538
Liz James
281.881.5170
Sard Verbinnen & Co.
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CHARLOTTESVILLE, Va.--(BUSINESS WIRE)--As energy prices soar and households seek to lower costs and maximize the value of their solar and storage systems, Lumin is partnering with energy market access provider Leap to offer Lumin Response, a program providing homeowners automated participation in the wholesale demand response (DR) market, with financial incentives for energy reduction during times when the local grid is stressed. Launching for select customers in California in July, Lumin Response is the integration of Lumin’s home energy management platform and smart circuit control technology with Leap’s distributed energy resource aggregation platform, reducing a home’s power usage by automatically turning off appliances when electricity prices are highest. Participants will then help balance the electrical grid and receive compensation for their energy reduction.
“Smart energy devices can make an important contribution to grid stability during periods of peak demand,” said Jason Michaels, Chief Commercial Officer at Leap, “Together, Leap and Lumin are making it possible for homeowners to unlock more value from their energy assets and become active participants in creating a more resilient, sustainable energy system.”
Users of Lumin Response will receive an in-app message or email notifying them they are eligible for financial incentives. Once they provide a simple set of preferences for when and how long their appliances can be turned off, participation is seamless and Lumin will automate the entire process.
Lumin’s technology connects the most energy-consuming circuits and various smart devices, including smart thermostats, connected appliances such as refrigerators, smart controllable plugs, and electric vehicle chargers. By interconnecting these devices on its platform, Lumin creates an ecosystem where energy consumption is synchronized and remotely accessible, and controllable, with the energy supply available to a household.
“This partnership presents the first true example of automated value stacking for individual homes in the demand response space, beyond battery participation in virtual power plants,” explained Alex Bazhinov, Founder and CEO of Lumin. “We are thrilled to work with Leap to help modernize residential power loads and provide more flexibility and options for homeowners. Designed to work well for individuals who may or may not have an energy storage system in place, we deliver value from multiple streams.”
Demand response (DR) is a short-term, voluntary decrease in electrical consumption that is usually triggered by compromised grid reliability or high wholesale market prices. While many U.S. utilities offer their customers some DR options, the Lumin-Leap partnership provides a unique, automated DR solution for any appliance connected to a Lumin Energy Platform. In addition, participants can receive direct, performance-based payments for their DR participation rather than an annual credit through their utility or a points system.
“As many municipalities move to enact standards for energy-saving measures in homes, smart appliances that integrate seamlessly with renewable energy systems will become more important as we continue to see energy strain on the grid, and this is why Lumin’s user-friendly, automated system is so valuable,” added Keegan Campanelli, Product Manager at Lumin. “And thanks to our partnership with Leap for wholesale demand response, we can now help homeowners save money at the same time. Lumin Response is a big win for everyone.”
Leap’s software platform makes it easy for smart energy technologies to generate revenue by providing flexibility and support to the grid. The company has dispatched over 10,000 MWh of clean energy to electric grids, reducing over 1,000 metric tons of CO2 and offsetting the equivalent of 3,500 hours from gas-powered peaker plants. Combined with the UL-certified Lumin® Energy Management Platform, users can maximize their energy and the return on investment for their residential solar systems.
About Lumin
Lumin® is the pioneer and market leader for responsive load management, adding exceptional value to residential microgrids by balancing home energy supply and demand. Lumin helps homeowners automatically or manually control their personal microgrid and enhance and protect their investment in solar PV and energy storage. Learn more at luminsmart.com.
About Leap
Leap is the leading global platform for integrating flexible energy resources into global electricity markets. Leap supplies the grid with zero carbon, price-competitive alternatives to fossil-fueled power plants by creating virtual power plants (VPPs) from its partners’ batteries, electric vehicles, smart thermostats, HVAC systems, and industrial facilities. Leap performs all the heavy lifting to operate and stay compliant across wholesale energy markets, enabling partners to unlock hidden revenue, increase customer engagement, and achieve sustainability goals.
Technica Communications for Lumin
Sarah Malpeli
Ph. 408-806-9626 Ext. 6840
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) Chief Operating Officer Micheal Dunn along with Chief Financial Officer John Porter are scheduled to participate in meetings with investors at the 2022 J.P. Morgan Energy, Power & Renewables Conference in New York City on Wednesday, June 22.
A fireside chat Q&A session with Dunn is scheduled for approximately 8:20 a.m. Eastern Time (7:20 a.m. Central Time) on June 22. A link to the live audio and replay, as well as a copy of the presentation used during the investor meetings, will be available at https://investor.williams.com on the same day.
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
Alsym’s inherently non-flammable batteries, made from readily available materials without lithium or cobalt, will be produced for EVs, stationary storage, and marine applications
WOBURN, Mass.--(BUSINESS WIRE)--#battery--Alsym™ Energy, a developer of next-generation rechargeable batteries, today announced that it is emerging from stealth to offer energy storage solutions for electric vehicles (EVs), stationary storage, and marine applications. Alsym’s battery technology promises to provide the performance of lithium-ion batteries at a fraction of the cost and without the inherent risk of fire. The company’s batteries are also less sensitive to raw material shortages and price volatility due to their use of low-cost materials with robust supply chains.
To accelerate the development of these affordable battery systems, Alsym is partnering with a leading India-based automaker in a joint effort to develop Alsym’s batteries for EVs. Conditional on key performance levels being met, the automaker will contract with Alsym to supply a minimum of 3 gigawatt hours (GWh) per year of battery systems for use in its products. Alsym is also in talks with companies in the marine shipping and electric two-wheeler markets to develop similar partnerships.
“Lithium is inherently flammable, and there are numerous risks that accompany all lithium-based battery technologies,” said Mukesh Chatter, CEO and Co-Founder of Alsym Energy. “Alsym Energy is on a mission to provide the world with cost-effective energy storage solutions using advanced, inherently non-flammable battery materials beyond lithium, made from non-toxic, readily available resources to power the growing mobility and stationary storage industries. We’re excited to work with industry partners to produce the next generation of batteries and to validate the innovations that will enable widespread access to clean electricity on a global scale.”
Alsym’s team of scientists and product developers is working to deliver and scale clean, energy-dense batteries that will be available at prices that are affordable to nearly anyone around the world. Founded in 2015, Alsym has raised $32 million to date from investors including Helios Climate Ventures.
“We’re seeing global competition to bring new batteries to market. Most companies are focused primarily on performance and put little thought into also making their batteries safer and more cost-effective—especially for the developing world where consumers are more price-sensitive,” said Nitin Nohria, Ph.D., Chairman of Alsym Energy’s Board of Business Advisors and former Dean of the Harvard Business School. “The team at Alsym Energy is working to ensure that their batteries not only meet performance expectations at reduced cost, but also avoid most of the supply chain challenges associated with lithium-based technologies. Not only are Alsym batteries sustainable, but the company’s business model is sustainable as well.”
The company estimates that Alsym batteries will cost less than half of current lithium-based batteries, enabling automakers to offer EVs at prices lower than comparable models with internal combustion engines. Using non-flammable, non-toxic materials removes many end-of-life concerns often associated with batteries, and Alsym batteries are much easier to recycle, helping ease the burden on waste processors, landfills, and others tasked with managing battery waste.
Alsym is currently in the process of developing a 500-kWh prototype manufacturing facility in Massachusetts. Because the materials used are non-flammable and non-toxic, Alsym batteries can be easily built in nearly any industrial site. They can also be made in existing lithium-ion battery factories with little to no retrofitting required, at lower operating cost and without the need for expensive dry rooms, fire locks, and solvent recovery systems.
About Alsym Energy
Alsym™ Energy is a leading developer of advanced low-cost, high-performance rechargeable batteries made from readily available materials that are inherently non-flammable and non-toxic, providing an economically viable alternative to lithium-based technologies. The company is focused on commercial development and mass production of batteries for use in applications including passenger electric vehicles and two-wheelers, marine shipping, and stationary energy storage to enable a zero-carbon future. To learn more, please visit www.alsym.com
Media
Cassandra Sweet
Antenna Group for Alsym Energy
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HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors at the J.P. Morgan Energy, Power & Renewables Conference on June 22, 2022.
A presentation has been posted in the “Investors” section of the Hess Midstream website at www.hessmidstream.com.
About Hess Midstream
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
Forward Looking Statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Generally, the words “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “believe,” “intend,” “project,” “plan,” “predict,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and current projections or expectations. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by Hess Midstream with the U.S. Securities and Exchange Commission, which are available to the public. Hess Midstream undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor:
Jennifer Gordon
(212) 536-8244
Media:
Robert Young
(713) 496-6076
DALLAS--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today it has been selected by Metro Vancouver to design the North Shore Wastewater Treatment Plant, a new tertiary treatment facility that will replace the existing Lions Gate Wastewater Treatment Plant and serve approximately 250,000 residents in the Districts of West and North Vancouver, the City of North Vancouver, and the Squamish and Tsleil-Waututh Nations. In this role, AECOM will provide design completion and construction management services to assist in the transition of the project to the new construction contractor.
“We’re honored to partner with Metro Vancouver to complete the design of the North Shore Wastewater Treatment Plant, working alongside the project’s contractor, PCL Construction,” said Beverley Stinson, chief executive of AECOM’s global Water business. “The plant is critical to bolstering the resiliency of the community’s wastewater infrastructure while safeguarding its surrounding natural ecosystems. We’re proud to partner with our clients across the globe to help solve their multifaceted water challenges and set new standards for treatment.”
AECOM is uniquely positioned to transition into the role of design engineer and support the timely delivery of the project, having served as Metro Vancouver’s owner’s engineer since project initiation. The firm will also assist with procurement and project controls systems, lead construction monitoring, assist with commissioning, and provide select operations support to aid Metro Vancouver with the transition to operating the new facility, which is being constructed to Leadership in Energy and Environmental Design (LEED) Gold and Envision Gold certification standards.
“As Vancouver’s North Shore continues to grow, this new wastewater treatment plant is a vital necessity to continue protecting the human and marine health of the area and will play an imperative role in educating the public on key sustainability initiatives,” said Marc Devlin, chief executive of AECOM’s Canada region. “We’re excited to be part of the team delivering this facility with the best interests of the region at the forefront of our project execution plan and look forward to providing services focused on quality, safety, and efficiency.”
The plant features an enclosed, urban, modern design, including a public plaza, educational, and community meeting spaces. It plans to deliver tertiary treatment, exceeding federal regulatory requirements for treatment technology and improving the quality of treated wastewater released into the marine environment. The facility is expected to recover heat from treated effluent for use internally and externally by the Lonsdale Energy Corporation as an alternative thermal energy source and conserve water resources through the harvest of rainwater and reclamation of treated effluent water for use within operations and other non-potable purposes.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and inadequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital’s real estate development; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure, power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
Media:
Brendan Ranson-Walsh
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1.213.996.2367
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Investors:
Will Gabrielski
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) executive management will host a webcast at noon EDT on Friday, July 29, 2022, to discuss the company’s second-quarter 2022 financial results, which will be released earlier that day, and provide an update on strategic initiatives.
To access the webcast, go to the Events and Presentations section of the Phillips 66 Investors site, phillips66.com/investors. A replay of the webcast will be archived on the Events and Presentations page approximately two hours after the event, and a transcript will be available at a later date.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
Jeff Dietert (investors)
832-765-2297
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Shannon Holy (investors)
832-765-2297
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Thaddeus Herrick (media)
855-841-2368
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Company CEO to participate in roundtable discussion on beneficial electrification, managed charging for electric vehicles and more
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Bidgely will join fellow energy industry leaders at EEI 2022, the annual conference held by Edison Electric Institute (EEI), June 20-22 in Orlando, Florida, to explore this year’s most pressing topics, including mitigating climate risk, supporting energy equity and inclusion, and delivering on electric transportation. Bidgely’s CEO Abhay Gupta will also participate in a roundtable dialogue held by The Edison Foundation’s Institute of Electric Innovation (IEI) alongside leading energy companies focusing on how electric companies and technology providers can work together to deliver a customer-centric, climate forward approach to energy management.
“The energy industry is undergoing a massive transformation. Electricity providers are bearing a new responsibility to more actively serve customers as well as lead carbon reduction initiatives, and data is proving to be the key enabler in achieving these critical goals,” said Abhay Gupta, CEO of Bidgely. “We look forward to connecting with electric companies at the upcoming EEI conference and sharing our meaningful advancements in customer intelligence, electric vehicle management and grid optimization.”
In addition to joining EEI 2022, Bidgely also has recently contributed two articles to EEI’s Electric Perspective Magazine. What to Expect When Expecting EVs explains how grid analytics can help electric companies develop proactive grid management strategies to accommodate the rise of EVs among service customers, while Targeted Energy Management Equals a Stronger, Cleaner Energy Grid explores opportunities for enhancing customer segmentation and deriving new value from demand side management initiatives.
Bidgely’s latest innovations in artificial intelligence-powered data analytics support the strategic implementation of beneficial electrification and electric vehicle (EV) initiatives among electric companies. This includes supporting the first EV managed charging program in Connecticut for Avangrid’s United Illuminating as well as introducing next-generation disaggregation technology for auto-detecting EV charging locations and patterns. Additionally, Bidgely created an Electric Vehicle Adoption Playbook to provide electric companies with a framework for establishing and executing their own data-driven business strategies.
To hear additional insights from Bidgely and leading electric companies, register for Bidgely’s Engage+ series or listen on-demand at Bidgely.com/Engage.
About Bidgely
Bidgely is an AI-powered SaaS Company accelerating a clean energy future by enabling energy companies and consumers to make data-driven energy-related decisions. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data – such as energy consumption, demographic, and interactions – into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From a Distributed Energy Resources (DER) and Grid Edge perspective, whether it is smart thermostats to EV chargers, solar PVs to TOU rate designs and tariffs, UtilityAI™ energy analytics provides deep visibility into generation, consumption for better peak load shaping and grid planning, and delivers targeted recommendations for new value-added products and services. With roots in Silicon Valley, Bidgely has over 17 energy patents, $75M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential and commercial customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog.
Christine Bennett
Bidgely
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HOUSTON--(BUSINESS WIRE)--Natural Resource Partners L.P. (NYSE: NRP) today announced it has retired $98 million of its 9.125% Senior Notes due 2025 in the second quarter of 2022. These notes were purchased on the open market at a weighted average price of 102.23%, a discount to the current redemption price of 104.563%. The retirement of this debt will save approximately $9 million annually in interest savings. After giving effect to the transactions, $202 million of NRP’s 9.125% Senior Notes due 2025 remain outstanding and NRP has a 1.6x pro-forma leverage ratio as of March 31, 2022.
“As a result of the Partnership’s free cash flow generation, solid liquidity, and positive outlook for its business lines, we were able to opportunistically retire over 30% of our outstanding Senior Notes,” said Craig Nunez, NRP’s president and chief operating officer. “This early debt reduction demonstrates our ongoing commitment to solidify our capital structure and maximize unitholder value.”
Company Profile
Natural Resource Partners L.P., a master limited partnership headquartered in Houston, TX, is a diversified natural resource company that owns, manages and leases a diversified portfolio of properties in the United States including coal, industrial minerals and other natural resources, as well as rights to conduct carbon sequestration and renewable energy activities. NRP also owns an equity investment in Sisecam Wyoming LLC, one of the world’s lowest-cost producers of soda ash.
For additional information please contact Tiffany Sammis at 713-751-7515 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Further information about NRP is available on the partnership’s website at http://www.nrplp.com.
Forward-Looking Statements
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Partnership based on its experience and perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership. These risks include, among other things, statements regarding: the effects of the global COVID-19 pandemic; future distributions on the Partnership’s common and preferred units; the Partnership's business strategy; its liquidity and access to capital and financing sources; its financial strategy; prices of and demand for coal, trona and soda ash, and other natural resources; estimated revenues, expenses and results of operations; projected future performance by the Partnership's lessees, including Foresight Energy; Sisecam Wyoming LLC’s trona mining and soda ash refinery operations; distributions from the soda ash joint venture; the impact of governmental policies, laws and regulations, as well as regulatory and legal proceedings involving the Partnership, and of scheduled or potential regulatory or legal changes; global and U.S. economic conditions; and other factors detailed in Natural Resource Partners’ Securities and Exchange Commission filings. Natural Resource Partners L.P. has no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Tiffany Sammis
713-751-7515
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NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, has entered into a reservation agreement with Changzhou Senior New Energy Materials Co., Ltd. and Senior Material (Europe) AB to supply battery materials for its Customer Qualification Plant (“CQP”), currently under construction in Mo i Rana, Norway, as well as for the company’s planned combined Gigafactory 1 & 2.
Subject to the terms and conditions of the reservation agreement, Changzhou Senior New Energy Materials Co. and Senior Material (Europe) AB have reserved the supply capacity of separator materials through 2028 to align with FREYR’s estimated demand, after which FREYR can exercise a capacity option that would extend the agreement until 2031.
“This reservation agreement ensures that we won’t lose any speed when it comes to securing the required separator materials to start production at our CQP and Gigafactory 1 & 2,” said Dr. Tilo Hauke, EVP of Supply Chain Management in FREYR. “Today’s announcement marks the start of a long-term partnership with yet another reliable and high-quality supplier, keeping us well-positioned as we approach the start of production.”
Changzhou Senior New Energy Materials Co., Ltd. is a pre-qualified supplier of 24M Technologies, Inc., maker of the 24M SemiSolid™ production platform which enables more sustainable lithium-ion battery production. FREYR has licensed the 24M platform with the ambition to reduce the steps in the battery cell manufacturing process and subsequently reduce carbon emissions.
FREYR aspires to source the raw materials for the CQP and Gigafactories from local suppliers and base this supply and future production on renewable energy sources. This is central to FREYR’s ambition to deliver world-class battery solutions with the lowest possible carbon footprint.
"As part of our long-term partnership with FREYR, we aim to support their mission to produce clean battery solutions by securing their supply of raw materials. Our intention is to eventually meet their supply needs through our facility in Sweden, which aligns well with FREYR's mission to source materials as locally as possible. We are eager to go on this journey with FREYR to help build even more momentum in the battery industry," says Chief Operating Officer, Robin Olsson, Senior Material (Europe) AB.
The reservation agreement with Changzhou Senior New Energy Materials Co., Ltd. and Senior Material (Europe) AB was officially entered into on June 15, 2022, following an initial purchase agreement made in December 2021. The capacity reservations for raw materials commences in 2023.
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland and the United States. FREYR intends to deliver up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh annual capacity by 2028. To learn more about FREYR, please visit www.freyrbattery.com.
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding the reservation agreement’s ability to meet FREYR’s estimated demand and ensure that FREYR will not lose speed in securing required separator materials to start production at its CQP and Gigafactory 1 & 2; FREYR’s ability to leverage the licensed 24M platform to reduce the steps in the battery cell manufacturing process and reduce carbon emissions; FREYR’s ability to source the raw materials for its CQP and Gigafactories from local suppliers and base this supply and future production on renewable energy sources; FREYR’s goal to deliver world-class battery solutions with the lowest possible carbon footprint; and Senior Material (Europe) AB’s ability to provide raw materials and meet supply needs through their facility in Sweden are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in (i) FREYR’s Registration Statement on Form S-1 filed with the Securities and Exchange Commission on August 9, 2021, as amended, and (ii) FREYR’s annual report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2022, and available on the SEC’s website at www.sec.gov.
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Media contact:
Katrin Berntsen
Vice President, Communication
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Tel: (+47) 920 54 570
PLANO, Texas--(BUSINESS WIRE)--#blueoil--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced that Chris Kendall, President and Chief Executive Officer, will present at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 22, 2022, at 1:45 p.m. Eastern Time. Mr. Kendall and other members of management will also participate in meetings with investors. Supplemental corporate materials for the conference will be posted to the Company’s website the same morning, and a link to the live webcast of the presentation will be available in the Investor Relations section of the Company’s website at www.denbury.com.
ABOUT DENBURY
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over four million tons of captured industrial-sourced CO2 annually, with an objective to fully offset its Scope 1, 2, and 3 CO2 emissions by 2030, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
Follow Denbury on Twitter and LinkedIn.
Brad Whitmarsh, VP Investor Relations, 972.673.2020, This email address is being protected from spambots. You need JavaScript enabled to view it.
Beth Bierhaus, Investor Relations Analyst, 972.673.2554, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Monoethylene Glycol Market, by Production Process, by Application, by End-use Industry, and by Region - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
This report provides an in-depth analysis of the global monoethylene glycol market, market size (US$ Billion & Tons), and compound annual growth rate (%CAGR) for the forecast period (2022-2028), considering 2020 as the base year
Monoethylene glycol is also known as 1, 2-ethanediol and is soluble in a wide range of chemical compounds, alcohols, and water. Ethylene Oxide hydrolysis produces it primarily, with the emission of two co-products, Diethylene Glycol (DEG) and Triethylene Glycol (TEG).
Natural gas, coal, naphtha, and bioethanol are the feedstocks used to make monoethylene glycol, hence the market is divided into four types based on the sources from which it is made. Natural gas, followed by naphtha and coal, accounts for the majority of monoethylene glycol production. Due to mounting environmental concerns, most businesses are now focusing on producing biobased monoethylene glycol rather than petrochemical-based monoethylene glycol.
Monoethylene glycol is utilized in coolants and de-icing materials because of its chemical features, which include high viscosity, high boiling point, and low freezing point. PET and polyester resins are made primarily from monoethylene glycol. It is frequently utilized as a raw ingredient in the production of fabrics and polyester fibres.
Among other things, it's used as a coolant, anti-freeze, dewatering agent, chemical intermediate, humecant, and anti-corrosion agent. Monoethylene Glycol is also used in the making of tobacco, food and beverages, pharmaceuticals, and cosmetics, among other things.
The expansion of the monoethylene glycol market would be aided by rising demand for PET packaging in various commercial and industrial end-use applications. Clothing, industrial fabrics, and non-woven fabrics are just a few of the industries where fibers are used.
Some of the features of these fabrics, such as resistance to moisture, stains, oil, and water, have led to increased demand for them. It's abrasion-resistant and wrinkle-resistant. As a result of these characteristics, the use of fibre in textile sector and the monoethylene glycol market will grow in the forecast period.
On the other hand, MEG is extremely toxic to people; consumption has been shown to have a negative influence on the kidneys, the heart, and the central nervous system, which is limiting the market growth.
Key features of the study:
Detailed Segmentation:
Global Monoethylene Glycol Market, By Production process:
Global Monoethylene Glycol Market, By Application:
Global Monoethylene Glycol Market, By End-use Industry:
Global Monoethylene Glycol Market, By Region:
Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/nhvmlb
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LOS ANGELES & GOTHENBURG, Sweden--(BUSINESS WIRE)--Gores Guggenheim, Inc. (“Gores Guggenheim” or the “Company”) (NASDAQ: GGPI, GGPIU and GGPIW), a special purpose acquisition company sponsored by affiliates of The Gores Group, LLC and Guggenheim Capital, LLC reminds stockholders to vote in favor of the approval of the Company’s proposed business combination with Polestar, the Swedish electric performance car company (the “Business Combination”), and other proposals related to the Business Combination to be presented the Company’s upcoming special meeting of the Company’s stockholders (the “Stockholder Special Meeting”). The Stockholder Special Meeting will be held via live webcast at www.meetnow.global/MYGAWFM on June 22, 2022, at 9:30 a.m. Eastern Time, as described in the Company’s definitive proxy statement/prospectus, dated May 25, 2022 and filed with the SEC on such date (the “Proxy Statement”). Please note that stockholders will be able to access the Stockholder Special Meeting only by means of remote communication and only at the aforementioned time and webcast.
All stockholders are strongly encouraged to vote as soon as possible in advance of the Stockholder Special Meeting. The Company requests that each stockholder of record complete, sign, date and return a proxy card. Stockholders who hold shares in “street name,” meaning that their shares are held of record by a broker, bank or other nominee, should contact their broker, bank or nominee to ensure that their shares are voted.
THE COMPANY’S BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT ITS STOCKHOLDERS VOTE “FOR” THE APPROVAL OF THE BUSINESS COMBINATION, AND EACH OF THE RELATED PROPOSALS DESCRIBED IN THE PROXY STATEMENT.
The Company also reminds warrant holders to vote in favor of the proposals to be presented at the meeting of the Company’s warrant holders (the “Warrant Holder Meeting”). The Warrant Holder Meeting will be held via live webcast at www.meetnow.global/MYVPLYT on June 22, 2022, at 10:00 a.m. Eastern Time, as described in the Proxy Statement. Please note that warrant holders will be able to access the Warrant Holder Meeting only by means of remote communication and only at the aforementioned time and webcast.
At the Warrant Holder Meeting, warrant holders of outstanding warrants issued as part of the units included in the Company’s IPO (the “Public Warrants”) and held of record as of the close of business on May 18, 2022 will be asked to approve an amendment to the existing warrant agreement (the “Warrant Amendment”) that governs the Public Warrants, to permit the conversion of Public Warrants to Class C-1 ADSs of ListCo in connection with the closing of the proposed Business Combination, as described in the Proxy Statement.
All warrant holders are strongly encouraged to vote as soon as possible in advance of the Warrant Holder Meeting. The Company requests that warrant holder of record at the close of business on May 18, 2022, complete, sign, date and return a proxy card. Warrant holders who hold shares or Public Warrants in “street name,” meaning that their Public Warrants are held of record by a broker, bank or other nominee, should contact their broker, bank or nominee to ensure that their Public Warrants are voted.
THE COMPANY’S BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT ITS WARRANT HOLDERS VOTE “FOR” THE APPROVAL OF THE WARRANT AMENDMENT, AND EACH OF THE RELATED PROPOSALS DESCRIBED IN THE PROXY STATEMENT.
The foregoing descriptions of the Stockholder Special Meeting and the Warrant Holder Meeting do not purport to be complete and are qualified in their entirety by the Proxy Statement. All stockholders and warrant holders are encouraged to review the Proxy Statement prior to voting their shares or warrants.
Please contact Morrow Sodali LLC, Gores Guggenheim’s proxy solicitor, with any questions or assistance in voting, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400) or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Polestar
Polestar was established as a new, standalone Swedish premium electric vehicle manufacturer in 2017. Founded by Volvo Car AB (publ) (together with its subsidiaries, “Volvo Cars”) and Zhejiang Geely Holding Group Co., Ltd (“Geely”), Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.
Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans that its cars will be available in an aggregate of 30 markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.
In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.
Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fibre body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any premium hybrid car in the world.
The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 300 kW / 408 hp and 660 Nm.
From 2022, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3, the company’s first electric performance SUV which is expected to debut in October 2022. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.
In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car that Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.
In early March 2022, Polestar revealed its second concept car, the Polestar O2 electric performance roadster. Polestar O2 builds on the design, technology and sustainability ambitions laid out by Precept and showcases the brand’s vision for future sports cars. The hard-top convertible presents an evolution of the unique design language first shown by Precept and emphasizes a dynamic driving experience. The concept further develops the focus on sustainability and technology, aiming towards greater circularity.
About Gores Guggenheim, Inc.
Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Gores Guggenheim’s strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores’ and Guggenheim’s long history and track record of investing in and operating businesses.
Additional Information about the Transactions and Where to Find It
In connection with the proposed Business Combination, (a) Polestar Automotive Holding UK PLC (formerly known as Polestar Automotive Holding UK Limited) (“ListCo”) has filed with the SEC a registration statement on Form F-4 containing a proxy statement of the Company and a prospectus, which the SEC declared effective on May 25, 2022 and (b) the Company has filed a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and mailed the Definitive Proxy Statement and other relevant materials to its stockholders and warrant holders, each as of May 18, 2022, the record date established for voting on the proposed Business Combination and the other matters to be voted upon at the Special Meeting and Warrant Holder Meeting. The Definitive Proxy Statement contains important information about the proposed Business Combination and the other matters to be voted upon at the meetings of the Company’s stockholders and warrant holders. This press release does not contain all the information that should be considered concerning the proposed Business Combination and is not intended to form the basis of any investment decision or any other decision in respect of the proposed Business Combination. Before making any voting or other investment decisions, securityholders of the Company and other interested persons are advised to read the Definitive Proxy Statement and other documents filed or to be filed in connection with the proposed Business Combination, as these materials will contain important information about the Company, Polestar, ListCo and the proposed Business Combination. Stockholders will also be able to obtain copies of the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in Solicitation
The Company and its directors and executive officers may be deemed participants in the solicitation of proxies from the Company’s stockholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in the Company is set forth in the Company’s filings with the SEC (including the Company’s final prospectus related to its initial public offering (File No. 333-253338) declared effective by the SEC on March 22, 2021), and are available free of charge at the SEC’s web site at www.sec.gov, or by directing a request to Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou. Additional information regarding the interests of such participants is contained in the Definitive Proxy Statement.
Polestar and ListCo, and certain of their directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed Business Combination is included in the Definitive Proxy Statement.
Forward-Looking Statements
This press release contains certain statements which may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of the Company and Polestar. For example, projections of future revenue, volumes and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, and Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (a) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to proposed Business Combination; (b) the outcome of any legal proceedings that may be instituted against the Company, the combined company or others following the announcement of the proposed Business Combination and any definitive agreements with respect thereto; (c) the inability to complete the proposed Business Combination due to the failure to obtain approval of the stockholders of the Company, to obtain financing to complete the proposed Business Combination or to satisfy other conditions to Closing; (d) changes to the proposed structure of the proposed Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the proposed Business Combination; (e) the ability to meet stock exchange listing standards following the consummation of the proposed Business Combination; (f) the risk that the proposed Business Combination disrupts current plans and operations of Polestar as a result of the announcement and consummation of the proposed Business Combination; (g) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (h) costs related to the proposed Business Combination; (i) risks associated with changes in applicable laws or regulations and Polestar’s international operations; (j) the possibility that Polestar or the combined company may be adversely affected by other economic, business, and/or competitive factors; (k) Polestar’s estimates of expenses and profitability; (l) Polestar’s ability to maintain agreements or partnerships with its strategic partners Volvo Cars and Geely and to develop new agreements or partnerships; (m) Polestar’s ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (n) Polestar’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (o) Polestar’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (p) delays in the design, manufacture, launch and financing of Polestar’s vehicles and Polestar’s reliance on a limited number of vehicle models to generate revenues; (q) Polestar’s ability to continuously and rapidly innovate, develop and market new products; (r) risks related to future market adoption of Polestar’s offerings; (s) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (t) Polestar’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production capacities; (u) risks related to Polestar’s distribution model; (v) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on Polestar’s future business; (w) changes in regulatory requirements, governmental incentives and fuel and energy prices; (x) the impact of the global COVID-19 pandemic, inflation, interest rate changes, the ongoing conflict between Ukraine and Russia, supply chain disruptions and logistical constraints on the Company, Polestar, Polestar’s post business combination’s projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (y) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s final prospectus relating to its initial public offering (File No. 333-253338) declared effective by the SEC on March 22, 2021, and other documents filed, or to be filed, with the SEC by the Company or ListCo, including the Definitive Proxy Statement. There may be additional risks that neither the Company, Polestar nor ListCo presently know or that the Company, Polestar or ListCo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither the Company, Polestar nor ListCo undertakes any duty to update these forward-looking statements.
Disclaimer
This press release relates to the proposed Business Combination. This document shall not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
For inquiries regarding The Gores Group and affiliates:
Jennifer Kwon Chou
Managing Director
The Gores Group
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John Christiansen/Cassandra Bujarski
FGS Global
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For inquiries regarding Polestar:
Bojana Flint
Polestar (Investor Relations)
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Jonathan Goodman
Polestar
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Andrew Lytheer
Polestar
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John Paolo Canton
Polestar
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CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today that it has taken up and paid for 32,467,532 common shares (“Shares”) at a price of $77.00 per Share (the “Purchase Price”) under Imperial’s offer (the “Offer”) to purchase for cancellation up to $2.5 billion of its Shares. All amounts are in Canadian dollars.
The Shares purchased represent an aggregate purchase of $2.5 billion and 4.9 percent of the total number of Imperial’s issued and outstanding Shares as of the close of business on May 2, 2022. Immediately following completion of the Offer, Imperial has 636,676,182 Shares issued and outstanding.
A total of 9,867,766 Shares were taken up and purchased pursuant to auction tenders at or below the Purchase Price and pursuant to purchase price tenders. Since the Offer was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders had approximately 96 percent of their tendered Shares taken up by Imperial (other than “odd lot” tenders, which were not subject to proration). 22,599,766 Shares were taken up and purchased pursuant to proportionate tenders.
Exxon Mobil Corporation (“ExxonMobil”), Imperial’s majority shareholder, made a proportionate tender under the Offer in order to maintain its proportionate Share ownership at approximately 69.6 percent, resulting in 22,597,379 Shares being taken up pursuant to the Offer. Immediately following completion of the Offer, ExxonMobil holds 443,126,164 Shares.
Imperial has accepted the Shares tendered for purchase and has made payment for the Shares by delivering the aggregate purchase price to Computershare Investor Services Inc., the depositary for the Offer (the “Depositary”). Payment and settlement with shareholders will be effected by the Depositary on or about June 21, 2022, all in accordance with the Offer and applicable law. Any Shares not purchased, including such Shares not purchased as a result of proration or Shares tendered pursuant to auction tenders at prices higher than the Purchase Price or invalidly tendered, will be returned to shareholders as soon as practicable.
To assist shareholders in determining the tax consequences of the Offer, Imperial estimates that a deemed dividend in the amount of $75.25 per Share was triggered on the repurchase of each Share, based on the estimated paid-up capital of $1.75 per Share at June 10, 2022. The dividend deemed to have been paid by Imperial to Canadian resident persons is designated as an “eligible dividend” for purposes of the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation.
For the purposes of subsection 191(4) of the Income Tax Act (Canada), the “specified amount” in respect of each Share is $69.19.
Shareholders should consult with their own tax advisors with respect to the income tax consequences of the disposition of their Shares under the Offer.
The full details of the Offer are described in the offer to purchase and issuer bid circular dated May 6, 2022, as amended on May 31, 2022, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.
Imperial is one of Canada’s largest integrated oil companies. It is active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil and natural gas. In Canada, it is a major producer of crude oil, the largest petroleum refiner and a leading marketer of petroleum products. It is also a major producer of petrochemicals. The company’s operations are conducted in three main segments: Upstream, Downstream and Chemical.
Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, expect, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this release include, but are not limited to, references to timing of payment and settlement with shareholders by the Depositary; the return of Shares not purchased; and the estimated deemed dividend triggered on the repurchase of each Share.
Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual results, including expectations and assumptions could differ materially depending on a number of factors. These factors include those discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
Source: Imperial
Investor Relations
(587) 476-4743
Media Relations
(587) 476-7010
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