CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the preliminary results of its substantial issuer bid (the “Offer”), pursuant to which Imperial offered to purchase for cancellation up to $2.5 billion of its common shares (the “Shares”). The Offer proceeded by way of a modified Dutch auction, which had a tender price range from $62.00 per Share to $78.00 per Share, and included the option for shareholders to participate via a proportionate tender. The Offer expired at 5:00 p.m. (Calgary time) on June 10, 2022. All amounts are in Canadian dollars.
In accordance with the terms and conditions of the Offer and based on the preliminary calculation of Computershare Investor Services Inc., as depositary for the Offer (the “Depositary”), Imperial expects to take up and pay for 32,467,532 Shares at a price of $77.00 per Share under the Offer (the “Purchase Price”), representing an aggregate purchase of approximately $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 anticipates that 636,676,182 Shares will be issued and outstanding.
10,260,031 Shares were validly tendered and not withdrawn pursuant to auction tenders at or below the Purchase Price and pursuant to purchase price tenders.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 will have the number of Shares purchased prorated following the determination of the final results of the Offer (other than “odd lot” tenders, which are not subject to proration). Imperial currently expects that shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders will have approximately 96 percent of their tendered Shares purchased by Imperial. Shareholders who made auction tenders at a price in excess of the Purchase Price should not expect to have any of their Shares purchased by Imperial. 22,599,766 Shares are anticipated to be taken up and purchased pursuant to proportionate tenders.
Exxon Mobil Corporation, Imperial’s majority shareholder, made a proportionate tender under the Offer and will maintain its proportionate Share ownership at approximately 69.6 percent following completion of the Offer.
The number of Shares to be purchased, the proration factor and the Purchase Price referred to above are preliminary, remain subject to verification by the Depositary and assume that all Shares tendered through notice of guaranteed delivery will be delivered within the two trading-day settlement period. Upon take-up and payment of the Shares purchased, Imperial will issue a press release disclosing the final results, including the final proration factor, the final Purchase Price, the estimated paid-up capital per Share and the “specified amount” for purposes of the Income Tax Act (Canada).
Promptly after such press release, payment for the Shares accepted for purchase will be made in accordance with the terms of the Offer and applicable law, and the Depositary will return all other Shares tendered and not purchased.
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 the number of shares, the Purchase Price and the aggregate amount Imperial expects to pay on take up and payment of tendered shares in connection with the Offer; the number of Shares issued and outstanding following completion of the Offer; the anticipated proration due to oversubscription; expectations for shareholders who have made auction tenders at a price in excess of the Purchase Price; the number of Shares to be taken up and paid for pursuant to proportionate tenders; ExxonMobil’s anticipated holdings following completion of the Offer; further communication regarding completion of the Offer; the payment for Shares in accordance with the Offer; and the return of Shares not purchased.
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 concerning shares tendered through notice of guaranteed delivery will be delivered, the assumption that the conditions to completion of the Offer will be satisfied or waived, 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
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) Executive Leadership Team members will participate in a fireside chat at the J.P. Morgan Energy, Power & Renewables Conference on Wednesday, June 22, 2022, at 9:50 a.m. EDT.
Phillips 66 leaders will discuss the company’s strategic initiatives and its continued commitment to disciplined capital allocation.
To access the webcast, go to the Events and Presentations section of the Phillips 66 Investors site, phillips66.com/investors. A replay will be archived on the Events and Presentations page the day 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.
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AUSTIN, Texas--(BUSINESS WIRE)--APsystems, the global leader in multi-platform solar MLPE devices, today announced it has moved its U.S. base of operations to Austin, Texas.
The new location, at 8701 North MoPac Expressway, Suite 160 in Austin, Texas, offers better proximity to customers nationwide and will serve as a central base of operations for APsystems’ U.S. business unit. Its previous location was in Seattle, Washington.
APsystems also welcomes experienced management executive Daniel Burke as Country Director for its U.S. business unit. Mr. Burke joins APsystems from Dalkia US, EDF Group, where he served as vice president of distributed generation sales and marketing. Prior to that, he held senior management roles at Aegis Energy Services, National Waste Associates, and Windsor Marketing Group. At APsystems, Mr. Burke will be responsible for U.S. top and bottom-line P&L, business operations management, organizational management and development, revenue and market share growth, and strategic alignment across all departments.
“While our success and growth in the U.S. has been strong, the solar market remains full of tremendous potential,” said Olivier Jacques, APsystems president of global business units and global executive vice-president. “The relocation of our U.S. main office to Austin, and the strategic hire of Daniel Burke, are foundational groundwork for the next stage of our growth and customer support in the U.S.”
APsystems continues to experience year-over-year growth in every major global market and recently passed the 2GW mark of installed capacity to date, and the 1-million-unit mark for RSD shipments under its APsmart brand. The firm will look to continue its growth trajectory with its newly introduced product line, the DS3 microinverter series, and its 3-phase offering, the QT2, arriving in the U.S. in Q3.
About APsystems
APsystems is a global, multinational solar power equipment manufacturer, encompassing 4 business units worldwide and serving customers in over 100 countries. Founded in Silicon Valley in 2010, APsystems has grown to be the #1 global multi-platform MLPE solution provider, offering microinverter and rapid shutdown devices for the global solar PV industry.
APsystems USA is located in Austin, Texas; APsystems EMEA is based in Rotterdam, Netherlands and Lyon, France (Branch); APsystems APAC is based in Jiaxing and Shanghai, China. APsystems also has locations in Guadalajara, Mexico and Sydney, Australia.
Learn more at www.APsystems.com.
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Memorandum of understanding to take air mobility infrastructure, renewable aviation fuels to new heights
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Pioneering electric aircraft developer Ampaire and Black & Veatch – a global leader in sustainable infrastructure, renewable energy and transportation electrification – will collaborate on developing airport electrification that supports tomorrow’s electric aviation needs.
Against the backdrop of a reimagined aviation sector – and the evolution of air mobility in a world increasingly looking to decarbonize – Black & Veatch and Ampaire will work to identify and evaluate opportunities to plan, engineer and construct infrastructure for electric air mobility at airports, working with early adopters in the Americas, Europe and Asia.
According to the memorandum of understanding (MOU) between the two transportation decarbonization leaders, the global collaboration will focus on creating reliable, clean-energy-powered charging and sustainable aviation fueling supply – at a growing number of airports – leveraging solar, energy storage and sustainable aviation fuel (SAF) supply chain development. The initiative seeks to include a broad range of air and ground side stakeholders who will benefit from shared infrastructure and Black & Veatch’s deep knowledge of power and communications infrastructure applied to this innovative industry sector.
"Ampaire is committed to putting zero-emissions aircraft into widespread service by mid-decade. These hybrid-electric aircraft will benefit from the buildout of sustainable aviation fuel (SAF) and electric charging infrastructure, making zero emission possible for meaningful service range. That’s why we consider this teaming arrangement so important,” said Susan Ying, senior vice president of global partnerships for Ampaire. “Aircraft companies must be involved in defining airport fueling and charging infrastructure. We are therefore very pleased to work with Black & Veatch on this common objective.”
“Governments, companies and communities around the world are making lowering their carbon footprints a priority, and the transportation sector is helping accelerate positive change,” added Paul Stith, Black & Veatch’s associate vice president of global transportation initiatives. “Decarbonization of aviation is challenging and requires technology and collaboration. Tackling emissions with concurrent SAF and electrification strategies offers a shining example of what’s possible in doing things cleaner and greener, and we’re excited about working with Ampaire to reshape tomorrow’s air mobility through infrastructure and innovation.”
Ampaire has been at the forefront of modern air mobility, having flown 481 miles nonstop from Perth, Scotland, to Exeter in southwest England in August 2021 with its “Electric EEL” aircraft – a six-seat Cessna, modified with hybrid-electric propulsion. It is to date the longest flight by a commercial-sized, hybrid-electric aircraft.
The promise of electrified air mobility continues to grow, given the environmental benefits, their reduced fuel requirements and maintenance costs, and the sector’s lesser reliance on traditional fuels prone to price and supply fluctuations. While electrification carries vast potential in unleashing a new mobility market, expanding the industry rests significantly on deploying more charging and servicing infrastructure.
Editor’s Notes:
About Black & Veatch
Black & Veatch is a 100-percent 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 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
About Ampaire
Los Angeles-based Ampaire was formed in 2016 with a mission to become the world’s most-trusted developer of practical, compelling electric aircraft. The company is upgrading existing passenger aircraft to hybrid electric power – the quickest, most capital efficient approach to making commercial electric air travel a reality with available technology. Ampaire has scored a series of industry firsts since the 2019 maiden flight of its Electric EEL technology testbed aircraft. In May 2022, it began ground power runs of its Eco Caravan hybrid-electric upgrade of the Cessna Grand Caravan, slated for certification and service introduction in mid-2024. For more information about Ampaire, click here.
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J.B. Lowe joins as VP, Head of Investor Relations to expand engagement with shareholders, investment analysts, industry experts, and investors worldwide
SAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Voltus, Inc. ("Voltus"), the leading distributed energy resource (DER) software platform, today announced the addition of J.B. Lowe, CFA, to its team as Vice President and Head of Investor Relations. Lowe brings over 15 years of energy sector and financial market experience to this role, including both buy-side and sell-side expertise.
In the new role, Lowe will be responsible for Voltus’s Investor Relations strategy with a focus on continuing and building relationships with investors, analysts, rating agencies, regulators, and other key stakeholders.
“We welcome J.B. to the Voltus team, which will benefit greatly from his extensive experience in the energy and financial markets,” said Doug Perrygo, Chief Financial Officer of Voltus. “As our business continues to scale and tackle critical energy challenges, we are committed to expanding our reach in the investment community. Our goal is to best position Voltus to deliver less expensive, more reliable, and more sustainable electricity.”
"Transparent and shareholder-friendly investor relations, based on clear communication with the global investment community is central to Voltus's long-term strategy,” said Lowe. “I am excited to join Voltus and put my passion for energy and financial markets into practice at a world-class organization dedicated to tackling some of the most pressing energy issues of our time."
Prior to joining Voltus, Lowe served as the head of U.S. Renewable Energy Equity Research at Citigroup. Prior to that, Lowe served as a research analyst at Bank of America and Cowen Inc. where he led coverage of U.S.-focused SMID-caps in the Oil & Gas sector. Lowe received his undergraduate degree from Duke University and is a CFA charterholder.
About Voltus
Voltus is the leading software platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
On December 1, 2021, Voltus announced its entry into a business combination agreement with, Broadscale Acquisition Corp. ("Broadscale") (Nasdaq: SCLE), a special purpose acquisition company (SPAC), that is expected to result in Voltus becoming a publicly listed company. The transaction is currently expected to close in the third quarter of 2022 and requires the approval of Broadscale's stockholders, the registration statement being declared effective by the SEC, and other customary closing conditions.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, revenue and other metrics, planned products and services, business strategy and plans, objectives of management for future operations of Voltus market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All 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. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the 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 business combination; 5) the ability to meet Nasdaq's listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the 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; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s amendment to its registration statement on Form S-4 (File No. 333-262287), filed with the SEC on March 18, 2022 (the “Registration Statement”), and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. 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 Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.
Use of Projections
This press release may contain financial forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements'' above. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.
Additional Information and Where to Find It
In connection with the proposed transaction, Broadscale has filed with the U.S. Securities and Exchange Commission the Registration Statement, which included a preliminary proxy statement and a preliminary prospectus. After the Registration Statement has been declared effective, Broadscale will mail a definitive proxy statement /prospectus relating to the proposed transaction to its stockholders as of the record date established for voting on the proposed transactions. Broadscale’s stockholders and other interested persons are urged to carefully read the Registration Statement, including the preliminary proxy statement / preliminary prospectus, and any amendments thereto, and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials contain, or will contain, important information about the proposed transaction and the parties to the proposed transaction.
Broadscale’s stockholders and other interested persons will be able to obtain free copies of the Registration Statement, the preliminary proxy statement / preliminary prospectus, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC, without charge, when available, at the website maintained by the SEC at www.sec.gov.
The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation
Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.
No Offer or Solicitation
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, 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 offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Investor Relations Contact
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Media Contact
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DUBLIN--(BUSINESS WIRE)--The "Cryogenic Pump Market by Orientation, Design (Submersible, Non-Submersible), Type, Cryogen (Nitrogen, Argon, Oxygen, LNG, Helium, Hydrogen), End User (Energy & Power, Chemicals, Metallurgy, Healthcare & Pharmaceuticals) & Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global cryogenic pump market is projected to reach USD 1.5 billion by 2027 from an estimated market size of USD 1.2 billion in 2022, at a CAGR of 4.6% during the forecast period.
Owing to the rising demand for cryogenic gases from the metallurgy and energy & power industries, the demand for cryogenic pumps is expected to increase.
Non-Submersible segment dominates the global market
The cryogenic pump market, by design, is segmented into submersible and non-submersible. The non-submersible segment is estimated to be the largest segment of the cryogenic pump market and is expected to retain its dominance throughout the forecast period. The characteristics such as ease of use and accessibility for maintenance have resulted in a higher adoption rate, thus the higher market share.
Energy & Power segment to lead the global cryogenic pumps market
The cryogenic pump market, by end-user, is segmented into energy & power, metallurgy, chemicals, healthcare & pharmaceuticals, and others. The energy & power segment is expected to hold the largest size of the market for cryogenic pump during the forecast period. The rise in E&P activities, especially the activities concerned with mature oil & gas wells, is expected to boost the growth of the market.
Asia Pacific dominates the global cryogenic pumps market in terms of market share and annual growth rate
The Asia Pacific region is estimated to be the largest market for the cryogenic pump market and is also witnessed to have the highest growth rate, during the forecast period. This dominance of the Asia Pacific region in the cryogenic pump market can be attributed to the growing demand for cryogenic pumps from metallurgy and energy & power industries, especially from developing economies such as China and India.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/kjmtln
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Ultra-Low Emissions and Low Maintenance Were Key Factors in Microturbine Selection
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #CGRN--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, announced that Vergent Power Solutions, Capstone's distributor for the Midwest, New England and Eastern Canada, has secured an order for a 1.2 megawatt (MW) energy system for a northern Illinois gas utility company at their natural gas facility.
Facing the challenges of powering the site with aging traditional reciprocating engines, the client looked for a more reliable, lower maintenance, and greener energy solution. The new solution, which features two Capstone C600 Signature Series microturbines fueled by the facility's available high-pressure natural gas, will be the site's only source of electricity, providing standalone power around the clock once it is commissioned in the fall of 2022. A significant factor in the client’s decision to select Capstone microturbines is the system’s ultra-low emission and quiet operation, enabling them to improve their environmental footprint.
"Gas utilities can be at the forefront of lowering emissions of the country's energy supply, in the same fashion as electric utilities that are adding low-carbon power generation to the power grid," said Justin Rathke, President of Vergent Power Solutions. "Vergent Power is focused on delivering clean energy solutions that also enable firm energy supply, which is desperately needed to balance intermittent renewable energy production and maintain grid stability. This prime power natural gas system is another example of Vergent Power's low-carbon energy solutions that also includes efficient cogeneration and trigeneration, resilient microgrids, biogas to energy, and renewable natural gas," added Mr. Rathke.
"More and more, utilities are finding that Capstone microturbines are an ideal, cost-effective power solution, particularly where there is an existing on-site fuel source," said Darren Jamison, Chief Executive Officer of Capstone Green Energy. "These systems are also an important step in helping the oil and gas industry make positive environmental changes, which is good for the company, their communities, and the planet," concluded Mr. Jamison.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three full fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
SOURCE: Capstone Green Energy Corporation
Capstone Green Energy
Investor and investment media inquiries:
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Former VP of Operations and Innovation and Regional General Manager Will Oversee National Operational Functions
PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene, one of the nation’s leading property improvement financing companies, today announced the promotion of Supriya Sachar to Chief Operating Officer. Sachar, who has been with Ygrene for six years, will oversee day-to-day operational functions, including the funding, operations, risk, and training departments. Sachar will report to President and CEO Jim Reinhart.
“I’m thrilled to announce Supriya’s promotion to Chief Operating Officer,” said Ygrene President and CEO Jim Reinhart. “Over the course of her tenure at Ygrene, Supriya has demonstrated excellence in leadership and results-driven strategic thinking. She has helped to transform the company through growth, profitability, and innovation, and her work has been critical to helping us attain customer satisfaction scores similar to the most trusted consumer brands. We will reach new heights with Supriya in the role of COO.”
“It’s an honor to accept this promotion,” said Supriya Sachar. “I’m proud to be part of a company that shares my values of serving the public good and advancing equity in the workplace and in the communities we serve. At Ygrene, we care deeply about our customers and work every day to help home, and business owners build better lives and increase the health and safety of their communities. I couldn’t be more optimistic about what the future holds for Ygrene and our customers or more energized to have the opportunity to make that future a reality through my contributions as Chief Operating Officer.”
Sachar brings more than 20 years of start-up and Fortune 500 experience to her new role at Ygrene. Her deep expertise in operational excellence, advanced strategic planning, organizational design, product management and technology resulted in increased efficiencies, significant customer growth, and profitability in multiple industries.
Sachar is also an active member of her community, volunteering for the American Cancer Society and the Heart of A Marine Foundation since 2008, and takes exceptional pride in her mentorship of women in the workplace through women's leadership and empowerment programs like Women's Unlimited. She was recently selected as a recipient of the North Bay Business Journal’s 2022 “Influential Women Award,” honoring her as a woman in California’s North Bay who is making a difference in the business world through her unique contributions and accomplishments.
Sacher holds a Bachelor of Commerce in Business Management and Marketing from Pune University, India, a Graduate Diploma in Public Relations, Advertising and Applied Communications from the New Delhi Institute for Media Studies and Information Technology, and a Graduate Diploma in Computer Science and Programming from CMS Computer Institute, New Delhi. She pursued an Executive MBA at the University of Chicago Booth School of Business.
About Ygrene
Ygrene, one of the nation’s leading property improvement financing providers, with built-in consumer protections, is delivering greater choice for home and business owners by providing access to affordable financing for energy efficiency, renewable energy, water conservation, storm protection, and seismic upgrades. In addition, Ygrene financing has proven to be a successful tool for supporting public policy initiatives - at no cost to local government. By providing over $2.5 billion private capital to more than 550 local communities, Ygrene has created tens of thousands of jobs and invested millions into local economies across the U.S. Learn more at ygrene.com.
Morgan Hook
301-801-6949
HELMOND, Netherlands--(BUSINESS WIRE)--Lightyear (“the Company”), the high-tech company developing the world’s first solar car, announced today that the Company’s Co-Founder and CEO, Lex Hoefsloot, and CFO, Laurens Weers, will participate in the virtual Credit Suisse 2022 Mobility Forum on Tuesday, June 21, 2022, where they will be hosting 1x1 meetings with investors. Interested institutional investors should contact their respective sales representatives directly to book a meeting.
Lightyear is solving two of the biggest concerns when it comes to electric cars as global economies and OEMs transition away from internal combustion engines and fossil fuels; charging and range. Lightyear is developing the world’s first solar car, Lightyear 0, which can drive over 1000 kilometers between two charges, and, because of its five square meters of solar panels, its solar yield can reach 11,000 kilometers a year. This means that drivers using Lightyear 0 for their daily commute (35 kilometers) can drive for months before needing to plug into a public charger or household outlet; in climates such as the Netherlands, it would be two months, and, in Spain or Portugal, as much as seven months.
The Company plans to begin production of Lightyear 0 after the fall of 2022, with the first delivery in November. The Pioneer Edition of Lightyear 0 has already sold out its first 150 units and the Company has recently begun taking orders for its next series, the Lightyear 0 Limited Edition, as of March 1, 2022.
Additionally, Lightyear has announced a deal with car-as-a-service and leasing company, Leaseplan, and car-sharing company, MyWheels, to each reserve 5,000 units of the Company’s second, more affordable model; Lightyear Two. This model is expected to go into production in 2024 or 2025 as the Company plans to rapidly expand its manufacturing capabilities in order to meet the growing demand across global markets.
About Lightyear
Lightyear is on a mission to bring clean mobility to everyone, everywhere. Through its energy-efficient design and integrated solar cells, Lightyear aims to eliminate the two biggest concerns for electric cars - charging and range. This allows motorists to drive up to eleven thousand kilometers per year with the power of the sun, depending on the climate. The fast-growing company was founded in 2016 and currently employs 500 people. The team comprises a mix of young talent and experienced names from the automotive and technology industries. In 2019, Lightyear launched its first driving prototype, and, in June 2022, the company unveiled its production-intent vehicle, the Lightyear 0, which is scheduled to go into limited production in fall 2022. The subsequent, high volume series, Lightyear Two, is slated to hit the roads in 2024/2025.
To learn more please go to https://lightyear.one/
Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements about the start of production of any of Lightyear’s vehicles and their specifications. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. All information provided in this press release is as of the date of this press release, and Lightyear undertakes no duty to update such information, except as required under applicable law. Nothing in this press release constitutes an offer of securities.
For Lightyear
Media
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SEATTLE--(BUSINESS WIRE)--Point B has accepted an invitation to be a founding member of Mission 6 in its quest to help corporations lead the world to net-zero. As a leader in Environmental, Social, and Governance (ESG) consulting, Point B has distinguished itself in the market by bringing an inter-disciplinary, values-driven approach to affect sustainable, systematic change across organizations. The Mission 6 initiative is unique in its approach to making the largest impact on reducing emissions as companies work to reach their net-zero goals.
Capital planning for sustainability initiatives is always a challenge and the Mission 6 model creates value inside of current spend while moving an expense into the asset column. Leveraging the true value of carbon is a novel way to drive faster deployment of projects that mitigate carbon. Corporations now have a new way to fund the resources necessary for launching and delivering projects.
Kelly O’Rourke, Point B Executive Vice President, and Garrett Kephart, Head of ESG Consulting at Point B, will serve on the Mission 6 Advisory Board. Each has contributed valuable insight to the Mission 6 team over the last six months and will have the ability to help guide the effort in the future.
“It is important for us to be involved in efforts like Mission 6, as we work closely with customers to help them accelerate their ability to advance their ESG goals,” said O’Rourke. “Adding Mission 6 to the Point B ESG ecosystem provides our customers with additional opportunities to drive meaningful progress towards their net-zero goals.”
“We are very excited to have Point B as a Mission 6 Founding Member,” said Kevin Carriere, CEO of Mission 6. “There are many consulting firms emphasizing ESG and sustainability, but Point B has assembled a team that stands alone in the industry. With industry veterans that bring over 20 years’ experience in a relatively new space, it is easy to see why so many companies are partnering with Point B.”
Mission 6 is a profit-driven ecosystem directed to solve the issues associated with the current carbon markets. By empowering the supply and demand sides of the market, corporations can now participate in a completely different way to lead the world to net-zero, and Mission 6 creates the opportunity for a +500% increase in the size of the carbon market. Mission 6 makes sustainability profitable at a global scale.
Mission 6 unlocks the real value of carbon. Carbon Assets™ can be included on the balance sheet. Emission-reducing investments are now much more attractive because they are carbon-backed digital assets. The Mission 6 carbon asset (M6) can be exchanged on cryptocurrency markets where everyone can participate in saving energy and mitigating emissions.
Point B is a global consulting firm. We solve the world’s most complex business challenges through leading industry expertise and capabilities. Our groundbreaking solutions are steeped in technology and help organizations realize their vision during times of dramatic change. Taking a people-centered approach, we give our customers a clear path to an inclusive and sustainable future. The firm’s diverse set of industry, capability and technology experts can be found across the United States, with international reach via our partnership with Nextcontinent.
For more information on Point B, visit http://www.pointb.com or contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..
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SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today completed its previously announced acquisition of Renewable Energy Group, Inc. (NASDAQ: REGI) (REG) following approval by REG stockholders.
“We have brought together companies with complementary capabilities, assets, and customer relationships to make Chevron one of the leading renewable fuels companies in the United States,” said Mark Nelson, executive vice president of Downstream & Chemicals for Chevron. “Chevron now offers our customers an expanded suite of cost-effective, lower carbon solutions that utilize today’s fleets and infrastructure.”
Further, Cynthia “CJ” Warner, formerly president and CEO of REG, has been appointed to Chevron’s Board of Directors, effective today.
“CJ Warner has deep experience across both the traditional and renewable energy sectors,” said Chevron Chairman and CEO Mike Wirth. “Her perspective and guidance will be invaluable as Chevron leverages its strengths to deliver lower carbon energy to a growing world.”
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Tyler Kruzich, Chevron External Affairs
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t. (925) 549-8686
PORTSMOUTH, England--(BUSINESS WIRE)--BAE Systems today marks 15 years of supporting Operations Aintree and Kipion, the Royal Navy’s mine countermeasure (MCM) strategy in the Gulf. The defence contractor has supported the Royal Navy’s Hunt Class vessels in-region for the past 15 years – and also delivers maintenance and upkeep to the rest of the Hunt Class flotilla out of Portsmouth Naval Base.
The UK Mine Countermeasures Force is part of the nation’s ongoing commitment to peace and security in the region where Royal Navy mine countermeasures vessels are permanently stationed.
The Royal Navy works closely with regional and coalition partners to maintain the security of Gulf sea lanes and ensure the safe flow of trade. This is crucial to both international shipping and the global economy. Approximately 15% of the world’s oil supply comes from the region.
The UK Mine Countermeasures Force is currently made up of two Hunt Class mine countermeasures vessels, HMS Middleton and HMS Chiddingfold, and two Sandown Class minehunters, HMS Penzance and HMS Bangor.
In collaboration with the Royal Navy’s Forward Support Unit, BAE Systems provides continuous in-region support via its Hunt Class Output Management team. It maintains a presence in Bahrain, using local teams where possible and deploys teams from Portsmouth when required.
In addition to ongoing maintenance carried out in the region, BAE Systems also delivers maintenance and upkeeps to all six Hunt Class vessels at Portsmouth Naval Base.
BAE Systems’ work on the Hunt Class has included:
“We’re enormously proud of the successful part we’ve played in enabling the Royal Navy’s mine countermeasure operations in the Gulf over the last 15 years,” commented Jon Pearson, Warship Support Director, BAE Systems’ Maritime Services business.
“This success is down to a number of factors; we have industry-leading engineering expertise, an ability to co-ordinate support to multiple ships and different classes of ships, experience in deployed support all over the world and excellent working relationships with the Royal Navy and our extensive supply chain. Perhaps most of all, our success is down to the dedication and flexibility of our teams, providing continuous support to address issues and maintain ship availability.”
The Royal Navy and Ministry of Defence have today held an event in Portsmouth Naval Base to celebrate the 15 year anniversary of Operations Aintree and Kipion. BAE Systems was present at the event, alongside partners and other industry organisations which have supported the Royal Navy’s strategy in the Gulf.
ENDS
About BAE Systems:
We provide some of the world’s most advanced, technology-led defence, aerospace and security solutions and employ a skilled workforce of some 89,600 people in more than 40 countries. Working with customers and local partners, we develop technology that helps to save lives, protect borders and people, strengthen nations, and keep critical information and infrastructure secure.
Issued by:
BAE Systems plc
Media hotline: + 44 (0) 7801 717739
www.baesystems.com
@BAESystemsplc
Ref: 82/2022
Alex Perryman, Communications Advisor, BAE Systems Maritime Services
M: +44 (0) 7747 268317
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Andrew Boyle, Senior Communications Manager, BAE Systems Maritime Services
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LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) today announced the extension of its solicitation of consents (the “Consent Solicitation”) from the holders of its outstanding 7.125% Senior Notes due 2026 (CUSIP Nos. 13057QAH0, 13057QAJ6 and U1303AAE6) (the “Notes”) to the proposed amendment to the indenture governing the Notes (the “Proposed Amendment”) described in the Consent Solicitation Statement dated June 6, 2022 (as amended hereby and as may be further amended or supplemented from time to time, the “Statement”). The Consent Solicitation is being made in accordance with the terms and subject to the conditions stated in the Statement.
The expiration time for the Consent Solicitation is being extended to 5:00 p.m., New York City time, on June 14, 2022, unless further extended or earlier terminated by the Company.
Except as described above, all other terms and conditions of the Consent Solicitation as set forth in the Statement remain unchanged and in effect. Holders of the Notes who have validly delivered their consents with respect to the Proposed Amendment do not need to deliver new consents or take any other action in response to this announcement in order to consent to the Proposed Amendment. Consents (whether previously or hereafter delivered) with respect to the Proposed Amendment may not be revoked once given, except in the limited circumstances described in the Statement.
CRC reserves the right to modify the Statement and the terms and conditions of the Consent Solicitation or to terminate the Consent Solicitation at any time.
MUFG Securities Americas Inc. and Citigroup Global Markets Inc. are the Joint Solicitation Agents. Global Bondholder Services Corporation has been retained to serve as the Information and Tabulation Agent for the Consent Solicitation. Persons with questions regarding the Consent Solicitation should contact MUFG Securities Americas Inc. at (toll free) (877) 744-4532 or (New York) (212) 405-7481 or Citigroup Global Markets Inc. at (toll free) (800) 558-3745 or (collect) (212) 723-6106. Requests for the Statement should be directed to Global Bondholder Services Corporation at (toll free) (855) 654-2015 or (collect) (212) 430-3774 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it..
None of the Company, the Joint Solicitation Agents, the Information and Tabulation Agent, the trustee under the indenture governing the Notes or any of their respective affiliates is making any recommendation as to whether holders should deliver Consents in response to the Consent Solicitation. Holders must make their own decision as to whether to participate in the Consent Solicitation, and, if so, the principal amount of Notes in respect of which to deliver Consents.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Consent Solicitation is being made only pursuant to the Statement and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of the Company by the Joint Solicitation Agents, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About California Resources Corporation
CRC is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing Carbon Capture and Storage and other emissions reducing projects.
Forward-Looking Statements
All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements regarding the Consent Solicitation, the timing thereof, and the Company’s intention to fund the Consent Solicitation, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company’s business, most of which are difficult to predict and many of which are beyond the Company’s control. These risks include, but are not limited to, the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequently filed Quarterly Report on Form 10-Q.
Joanna Park (Investor Relations)
818-661-3731
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Richard Venn (Media)
818-661-6014
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DUBLIN--(BUSINESS WIRE)--The "Kazakhstan Oil and Gas Weekly" newsletter has been added to ResearchAndMarkets.com's offering.
This weekly report highlights the most important events in the oil and gas sectors in Kazakhstan and provides experts' comments as well as reference information. It also includes basic statistics on the region's oil and gas industries.
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Featuring explainers on timely topics from rising gas prices to inflation and housing costs
Morgan Stanley, the series sponsor, provides readers free access to this content to encourage financial empowerment
WASHINGTON--(BUSINESS WIRE)--The Washington Post is proud to introduce “Econ 101: Navigating the Economy,” a new line of coverage focusing on current day financial themes affecting all Americans. The series underscores The Post’s commitment to making critical, timely topics easy to navigate and empowering them to make more informed decisions, particularly during a time of economic uncertainty.
“The U.S. economy is experiencing shifts that many Americans have never experienced before. This content will demystify some of these driving forces and the impact they have on people’s finances,” said Damian Paletta, Deputy Business Editor at The Post. “We are excited to expand on The Post’s in-depth coverage of the kitchen table issues at the intersection of finance.”
With the guide of animations, the series explores timely topics including rising gas prices and housing costs. Two pieces are available now: a comprehensible and digestible look at inflation and an exploration of what’s driving record-high gas prices. Installments will continue rolling out on a quarterly basis through the end of the year.
As part of a broader collaboration with The Post, Morgan Stanley is not only sponsoring the “Econ 101” series, but is also providing readers with free digital access to the content in this series to ensure that all readers have equitable access to resources, tools and information that will help drive their financial empowerment.
“Providing tools for readers to understand the evolving world around us and use that knowledge to make smart financial decisions is core to what we do at Morgan Stanley,” said Alice Milligan, Chief Marketing Officer at Morgan Stanley. “That’s why we’re so proud to collaborate with The Post to offer such content at no cost to readers so they can have the confidence to grow and achieve their financial goals, today and tomorrow.”
You can also follow The Washington Post on Twitter and Instagram, and Morgan Stanley on Twitter (@MorganStanley) and Instagram (@morgan.stanley) for updates on this coverage.
Read the coverage here.
Kathleen Floyd
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HOUSTON--(BUSINESS WIRE)--Synthica Energy, LLC announced the development of a new anaerobic digestion facility in Houston, Texas. The facility will focus on converting organic byproducts from food, beverage, and biofuel producers into Renewable Natural Gas (RNG), thereby reducing the organics currently taking up space in landfills and other non-sustainable outlets.
Synthica’s facility is being developed at an industrial site along the ship channel east of Houston to ensure easy access for manufacturers in the region. The project is expected to be completed in late 2024 and will utilize Synthica’s “Urban Friendly Digestion” technology, a sustainable method of creating RNG. The facility will produce approximately 350,000 MMBTU of carbon negative RNG per year, removing tens of thousands of tons of CO2 from the atmosphere, and helping local gas consumers meet aggressive ESG goals. Analysts have estimated US demand for RNG will increase 45-fold within the next two decades.
“We are pleased to welcome Synthica Energy to Houston,” said Susan Davenport, Chief Economic Development Officer of the Greater Houston Partnership. “The company’s new Houston facility advances our region’s global leadership position in the critical effort to create an energy-abundant, low carbon future. Synthica’s state-of-the-art facility will benefit from Houston’s leading energy infrastructure and market, talented energy workforce, and a robust supply of industrial byproducts and organic waste. This new plant comes at an exciting time for Houston as we continue to attract and grow companies that are creating affordable, reliable and lower-emissions energy resources.”
“Houston has been a major target market for Synthica and we are excited to see our plans to scale our model come to fruition,” said Sam Schutte, Synthica CEO. “Synthica Houston will divert approximately 300,000 tons per year of organic wastes from non-sustainable outlets, providing companies in the region who wish to make their operations more environmentally friendly a sustainable choice.”
About Synthica Energy
Synthica Energy is an anaerobic digestion and renewable natural gas (RNG) development company focused on the creation of organics-to-energy facilities in underserved markets. The company is currently creating the largest organics-to-energy facility in the State of Ohio, based in the Cincinnati region, as well as an announced facility in the heart of Kentucky’s bourbon country, in Lebanon Junction, KY. To learn more, visit https://synthica.com
Valerie McDonough
513-268-6688
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Ms. Bimson Maggi Becomes First Woman to Chair NPGA
VALLEY FORGE, Pa.--(BUSINESS WIRE)--In partnership with the National Propane Gas Association (NPGA), UGI Corporation (NYSE: UGI) is pleased to announce that Michelle Bimson Maggi, Vice President of Law – AmeriGas, has been appointed the first woman to chair NPGA. AmeriGas Propane (“AmeriGas”), the nation’s largest retail propane marketer, is a subsidiary of UGI Corporation.
“On behalf of UGI and AmeriGas, I am thrilled to congratulate Michelle on her new leadership role within the NPGA,” said Paul M. Ladner, President – AmeriGas. “This appointment is a testament to Michelle’s hard work and dedication, her passion for advocacy and her extensive knowledge of the propane business. We are proud to have Michelle and AmeriGas as a leading voice in our industry.”
“I am honored to have been selected as Chair of NPGA,” said Ms. Bimson Maggi. “I look forward to working closely with the NPGA leadership team and our 2,400 members to expand NPGA’s advocacy, education and diversity and inclusion efforts. The propane industry, powered by more than 57,000 American workers, is a critical part of our nation’s economy. We can use our collective voice to convey to the public important messages about the benefits of propane – and to advocate for how propane companies make positive contributions to the environment.”
As AmeriGas’ VP of Law, Ms. Bimson Maggi is responsible for advising the Company on legal, risk management, industry and political matters. She has held positions of increasing responsibility in the UGI/AmeriGas Law departments since she joined the Company in 2007, including Associate Counsel, Counsel, Senior Counsel and Group Counsel. She is a founding member and a current leader of UGI’s Women’s Impact Network (WIN) employee resource group. Earlier in her career, Ms. Bimson Maggi worked as a litigation associate at Blank Rome and Reed Smith. She is a graduate of the Widener University School of Law in Wilmington, Delaware, and holds a Bachelor of Arts in government and politics from the University of Maryland, College Park.
“Michelle is a modern leader and the perfect fit to chair NPGA,” said Stephen Kaminski, President and CEO of NPGA. “She’s a strategic thinker, a champion for propane, and an ardent advocate for driving the industry forward. I am excited to work hand-in-hand with her.”
About AmeriGas
AmeriGas is the largest retail propane marketer in the United States, with more than 1 billion gallons sold annually to 1.4 million customers in all 50 states from approximately 1,600 locations. More information about AmeriGas is available at https://www.amerigas.com.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About National Propane Gas Association
The National Propane Gas Association (NPGA) is the national trade association representing the U.S. propane industry. NPGA’s membership includes small businesses and large corporations engaged in the retail marketing of propane gas and appliances, producers and wholesalers of propane equipment, manufacturers and distributors of propane gas appliances and equipment, fabricators of propane gas cylinders and tanks, and propane transporters. With more than 2,400 member companies in all 50 states, the association represents every segment of the propane industry. NPGA’s mission is to advance safety and to increase the use of propane through sound public policy.
UGI Investor Relations
610-337-1000
Tameka Morris, ext. 6297
UGI Media Relations
Rob Ferris, 610-684-5835
NPGA Media Relations
Sarah McLallen, 703-927-0713
PG&E Pipelines Transport RNG to California Transportation Sector
Project Captures More Than 1.6 MMBtu of Dairy Methane
OAKLAND, Calif.--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) today joined with Aemetis, Inc. to officially commission the interconnection of a new Renewable Natural Gas (RNG) facility in Keyes, Calif. The partnership between PG&E and Aemetis will enable transportation of clean RNG to California transportation customers and capture more than 1.6 MMBtu of dairy methane per year that would otherwise be emitted into the atmosphere.
“We are proud to partner with Aemetis and California dairies to deliver clean renewable natural gas to Californians. This project is a key milestone in our goal to expand our renewable energy mix within our gas supply and evolve our system to be a safe, affordable, and reliable net zero energy delivery platform,” said PG&E’s Senior Vice President, Gas Engineering Janisse Quiñones.
At full build-out, a 40-mile gathering line will receive RNG produced at the Aemetis Biogas Central Dairy Digester Project and transport it through PG&E’s transmission pipeline system to end-use customers. Currently, the RNG transported from this project will directly support the transportation sector. The project estimates that emissions captured from more than 60 contributing dairies is equal to that of 1.1 million cars.
“Commissioning the biogas cleanup unit and interconnecting with PG&E’s gas pipeline is a significant milestone for Aemetis,” said Eric McAfee, Chairman and CEO of Aemetis. “Our ability to fuel trucks with negative carbon intensity RNG will contribute to California’s goal of carbon neutrality and will reduce transportation air pollution created by diesel emissions.”
The Aemetis Biogas Central Dairy Digester Project marks PG&E’s fourth RNG interconnection in the last six months. A fifth RNG project is slated to come online by Dec. 2022, advancing PG&E’s efforts to decarbonize the natural gas system and reduce emissions as outlined in the recently released Climate Strategy Report. The report details the company’s path to become net-zero on greenhouse gas emissions by 2040, and “climate positive,” or going beyond net zero emissions and actively removing more greenhouse gases from the environment than it emits, by 2050.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy company in the United States. Based in San Francisco, with more than 20,000 employees, the company delivers some of the nation’s cleanest energy to 16 million people in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.
About Aemetis
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com.
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BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) expects to report earnings for the quarter ended June 30, 2022 following market close on Aug. 3, 2022.
The company’s conference call with financial analysts will take place on Thursday, Aug. 4, 2022 at 11 a.m. Eastern Daylight Time. The call and presentation will be webcast live so interested parties may listen over the internet by logging on to Essential.co and following the link for Investors. The conference call will be archived in the Investor Relations section of the company’s website for 90 days following the call. Additionally, the call will be recorded and made available for replay at 2 p.m. on Aug. 4, 2022 for 10 business days following the call. To access the audio replay in the U.S., dial 888.203.1112 (pass code 9970100). International callers can dial +1 719.457.0820 (pass code 9970100).
About Essential
Essential is one of the largest publicly traded water, wastewater service and natural gas providers in the U.S., serving approximately 5.5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
WTRGF
Brian Dingerdissen
Essential Utilities Inc.
Investor Relations
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Sarah Courtright
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The Columbia Solar, Ridge View Solar and Rich Road Solar Projects are among 22 large-scale solar projects, including six with energy storage, across upstate New York to receive an award.
SAN DIEGO--(BUSINESS WIRE)--EDF Renewables North America today announced three solar projects were awarded long-term contracts by New York State Energy Research and Development Authority (NYSERDA) as part of the 2021 solicitation for large-scale renewable energy certificates. Combined, 1 gigawatt (GW) of solar + storage projects will deliver clean energy for the state.
The projects as follows represent nearly 40% of the total 2,408 MW awarded, and expect to deliver clean electricity by the end of 2025:
Stephane Desdunes, Senior Director Development, Northeast Region for EDF Renewables, said, “The team has worked diligently to progress the development of our New York solar portfolio since 2017. We are proud of the fact we have been awarded 1,313 MW of the 2020 and 2021 procurements and 1,483 MW in total since 2018. With more than 1,000 MW of solar and storage projects still in the development pipeline, EDF Renewables looks forward to working side by side with NYSERDA and New York State to achieve the 70% by 2030 goal and deliver clean energy to the residents of New York.”
Desdunes continued, “The region will benefit from procurement and employment opportunities throughout the development, construction and operational phases. Combined the projects will create approximately 1,290 prevailing wage and union construction jobs in upstate New York during peak construction and contribute millions of dollars to the Counties, Towns and School Districts during the operational life of the projects.”
Doreen M. Harris, President and CEO, NYSERDA, said, “Advancing large-scale solar projects like these newly awarded projects are helping to build out New York’s already massive renewable energy pipeline and are central to the State’s ability to create a zero-emission electricity grid. NYSERDA will work closely with EDF Renewables to ensure the communities hosting these projects are engaged throughout the development process and the responsible siting of them will not only help protect our valuable agricultural lands, but benefit the state and local economies alike.”
EDF Renewables’ community engagement plans for the Columbia, Rich Road and Ridge View Solar Projects include annual scholarships for students in the project area school districts with interest in the trades or clean energy, and an annual Sharing the Sun Fund for local community organizations during the construction phase whereby local review committees will select the awardees. Starting in 2024, EDF Renewables will also sponsor an innovative online training course for the solar workforce and a hands-on workshop in partnership with SUNY College of Environmental Science and Forestry in our efforts to bolster the local labor pipeline.
The expected electricity generated at full capacity is enough to meet the consumption of over 243,000 average New York homes1. This is equivalent to avoiding over 880,000 million metric tons of carbon (CO₂) emissions annually which represents the greenhouse gas emissions from over 190,000 passenger vehicles driven over the course of one year1.
EDF Renewables is one of the largest renewable energy developers in North America with 24 gigawatts of wind, solar, and storage projects developed throughout the U.S., Canada, and Mexico. Solar development accounts for 70% of EDF Renewables’ 15 GW pipeline. EDF Renewables has installed 80 MW of Wind Power and 187 MW of Solar Power to date in the State of New York.
NYSERDA awarded EDF Renewables 3 projects totaling 303 MWac and 10 MW of storage in the 2020 Renewable Energy Standard Solicitation and 170 MWac in the 2018 Renewable Energy Standard Solicitation.
1 According to NYSERDA Energy & Environmental Analysis Program.
EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar and storage; and asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects. The Company’s PowerFlex subsidiary offers a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 24 GW of developed projects and 13 GW under service contracts. EDF Renewables North America is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.
Sandi Briner, +1 858-521-3525
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