Recognition honors AVANGRID’s commitment to business integrity through best-in-class ethics, compliance and governance practices
ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, has been recognized by Ethisphere as one of the 2022 World’s Most Ethical Companies. This marks AVANGRID’s fourth consecutive year earning the designation from Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
AVANGRID is one of only nine honorees globally in the Energy and Utilities sector in 2022. A total of 136 honorees were recognized spanning 22 countries and 45 industries.
“We are committed to accountability and leading with a strong ethics-driven, continuous improvement culture that builds on our purpose and values,” said Kyra Patterson, Chief Human Resources Officer at AVANGRID. “We believe in principled actions, effective decision-making and appropriate monitoring of both compliance and performance. Receiving this honor from Ethisphere for the fourth consecutive year is a true testament to the dedication of the entire AVANGRID team to upholding the highest ethical standards.”
Transparency and commitment to continuous improvement are cornerstones of AVANGRID’s corporate governance system. This system is reflected in the management approach to sustainability and our comprehensive ESG+F strategy (environment, society, governance and financial strength).
“Today, business leaders face their greatest mandate yet to be ethical, accountable, and trusted to drive positive change,” said Ethisphere CEO, Timothy Erblich. “We commend the AVANGRID team for its leading approach to ethics, compliance and corporate governance, and dedication to advancing clean energy projects to benefit the communities they serve while maintaining a deep commitment to socially responsible business practices. Congratulations to AVANGRID for earning the World’s Most Ethical Companies designation.”
Ethics & Performance
Ethisphere’s 2022 Ethics Index, the collection of publicly traded companies recognized as recipients of this year’s World’s Most Ethical Companies designation, outperformed a comparable index of large cap companies by 24.6 percentage points over the past five calendar years.
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.
The full list of the 2022 World's Most Ethical Companies can be found at here.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
About Ethisphere: Ethisphere® is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.
Sarah Warren
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585-794-9253
Security Surveillance System program to upgrade global base security
SEATTLE--(BUSINESS WIRE)--Echodyne, the radar platform company, announced today that Advanced Technology Systems Company (ATSC), the prime contractor for the $191 million Indefinite Delivery, Indefinite Quantity (IDIQ) contract for the U.S. Army’s Security Surveillance System (SSS) program of record and a leader in Force Protection Systems and Border/Maritime Surveillance Systems, has received its first order for Echodyne radars to be used under the SSS program. The IDIQ contract has a 5-year base period, with a 3-year option to extend the period of performance. Following extensive testing during the design and development phase of the program, Echodyne radars have been selected as a component of the security system. The initial order for 46 EchoGuard radars was delivered in December 2021.
“Echodyne radars are on the cutting edge of what’s possible with radars today - our technology is constantly outperforming industry expectations, shepherding in a new era of situational awareness,” said Eben Frankenberg, CEO of Echodyne. “We look forward to supporting ATSC as they deliver advanced security solutions under the SSS program.”
Radars are an essential component of a robust security solution, providing increased detection ranges and early warning of potential ground and air threats. With Echodyne’s breakthrough metamaterials electronically scanned array (MESA) technology in the mix, the security system is enhanced with robust 4D data on the approaching object, whether human, vehicle, boat, or drone.
Echodyne serves customers across the defense, national security, and critical infrastructure protection markets worldwide. Its radars are a core component for counter-UAS, border security, and base and perimeter surveillance solutions. For additional details, please visit echodyne.com. For additional details about ATSC, please visit www.atscva.com.
About Echodyne
Echodyne, the radar platform company, designs and delivers high-performance compact, solid-state radars based on the company’s patented Metamaterials ESA (MESA®) technology. Ideally suited for defense, security, machine perception, and autonomy, Echodyne’s commercially priced electronically scanned array radars are used by defense and government agencies, autonomous developers, and security integrators for counter-UAS, borders and perimeter security, critical infrastructure protection, unmanned aerial vehicles, and autonomous vehicles. Privately held, the company is based in Kirkland, Washington, and is backed by Bill Gates, NEA, Madrona Venture Group, Vulcan Capital, Vanedge Capital, and Lux Capital among others. For more information, please visit: Echodyne.com.
John O’Brien
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Stewart brings decades of experience driving dynamic growth and leading transformational change at industry-leading energy and technology companies to overseeing Perch’s continued growth and innovation, and scaling in community solar and direct-to-consumer energy services
BOSTON--(BUSINESS WIRE)--Perch Energy (or “Perch”), a clean energy technology and services company, today announced the appointment of Bruce Stewart as CEO and the close of a $6.2 million round in Series A funding. An additional $1 million is committed and expected to close on or prior to May 1, 2022, bringing the Series A total to $7.2 million. Perch will use the funds to add talent and resources to build upon its industry-leading community solar services and management platform, expand its innovative direct-to-consumer energy platform, and accelerate the growth of its community solar services business into an expanding list of U.S. markets.
With decades of experience driving strong and sustainable business growth and delivering superior customer services with both energy and technology companies, Stewart is committed to bringing affordable, clean energy solutions to more people. Stewart brings expertise pivotal to furthering Perch’s mission of making cleaner energy options more accessible for all. Before joining Perch, Stewart served as President at Direct Energy Home, and Co-President of Centrica US Holdings, where he led the successful sale of Direct Energy to NRG for $3.6 billion in January 2021. He has also held executive positions with GE Current and Constellation Energy, and prior to that at Yahoo!. Throughout his career, Stewart has been a proponent of using data-driven analytics and insights to scale businesses in multiple industries facing dynamic market shifts, regulatory change, and competitive disruption.
“Perch is leading the next stage of clean energy transition, which will place renewed importance on widespread and equitable access to clean and affordable solar energy,” said Stewart. “As someone who led companies during earlier stages of the energy transition and digital revolution, I look forward to once again rolling up my sleeves to face the challenges and seize the opportunities in an evolving industry by leading Perch’s continued growth and innovation, aided by this newly-secured funding.”
To date, Perch has delivered more than $9.7 million in customer savings by enabling more than 8,100 community solar subscriptions for homes, businesses, and municipalities. The company, which was spun off from BlueWave Solar, is a trusted resource to the solar industry with an established customer and revenue base. Perch offers a diverse set of products and services for the management of community solar projects as well as for homeowners, renters, and businesses seeking cost-effective choices for supporting clean energy.
The funding round was led by Arborview Capital, one of the nation’s leading sustainability-focused growth equity firms, with participation from one of the nation’s leading national energy companies.
“The experienced team at Perch Energy is uniquely positioned to provide value to its customers and solar asset owner clients, thanks to its unique set of offerings and services,” said Joe Lipscomb, co-founder and partner at Arborview Capital. “With Bruce Stewart at the helm and the infusion of this additional funding, Perch is poised to lead the market in providing access to community solar.”
About Perch Energy
Perch Energy is a Boston-based clean energy tech and services company that offers a diverse set of products and services for homeowners, renters, businesses, and solar farm owners. From Perch’s community solar project support team, which is dedicated to effective customer onboarding, billing, and engagement, to its automated platform which makes it easy for customers to customize their energy mix and savings — Perch is on a mission to make clean energy options more accessible, more affordable and more equitable for all. Learn more at www.perchenergy.com and follow Perch Energy on Linkedin: http://linkedin.com/company/perchenergy.
About Arborview Capital
Arborview Capital was founded in 2008 to invest in high-growth companies that are building a more environmentally sound, resource-efficient future while driving returns to all stakeholders — investors, employees, customers, suppliers — and the environment. Arborview is headquartered in Chevy Chase, Maryland. To learn more, please visit: www.arborviewcapital.com.
Media
Kenny Gayles
Antenna Group for Perch Energy
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For clean, ultra low sulfur diesel production meeting cold flow requirements in one of the coldest regions of South America
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Refi Pampa SA (RefiPampa) has signed agreements with Elessent Clean Technologies (Elessent) for the license and basic engineering of a new IsoTherming® Diesel Hydrotreating and Dewaxing Unit. The grassroots hydrotreater will be installed at the RefiPampa facility in La Pampa, Argentina. In order to comply with the latest fuel specifications in Argentina to meet Grade 3 diesel specifications by 2024, RefiPampa commissioned Elessent for an IsoTherming® diesel hydrotreating and dewaxing unit with a target capacity of 62.6 m3/hr (9,450 BPSD).
IsoTherming® Diesel Hydrotreaters enable refiners to produce high-quality, low-sulfur fuels that comply with increasingly stringent environmental requirements, but at lower energy consumption rates and operating costs than trickle bed hydroprocessing units. The IsoTherming® technology is commercially proven to process a wide range of feedstocks, from kerosene to vacuum gas oil, including 100 percent light cycle oil. IsoTherming® hydroprocessing units are designed to provide refiners with consistent 30-60 percent savings on utilities compared to trickle bed technologies and the potential of 30 percent capital cost savings or more. In addition to the capital and operating cost savings, the IsoTherming® technology provides refiners a more environmentally friendly method of producing transportation fuels through the significant reduction in combustion related CO2 emissions. Due to the IsoTherming® technology’s energy efficient nature, the licensed diesel hydrotreating and dewaxing unit will nearly halve the CO2 emissions that would be produced from an equivalent trickle bed hydrotreating unit.
“We are excited to have the opportunity to supply a grassroots hydrotreater and dewaxing unit to the existing RefiPampa facility in Argentina. The unit will incorporate both hydrotreating and dewaxing catalyst, in order to improve the cold flow properties of the diesel which is crucial to the needs of the refinery in this region, one of the coldest in the country. We have worked closely with RefiPampa over the last few years to generate the most economical solution for the refinery, catering to their unique feedstock blend, and completing pilot plant testing with their feedstock for proof of concept,” said Samantha Presley , global business manager, IsoTherming® Hydroprocessing Technology.
The hydrotreating and dewaxing unit will enable RefiPampa to produce Grade 3 fuel year-round, reducing and even eliminating the need in some months for costly additive usage for improving cold flow properties. In conventional trickle bed technology, expensive isomerization dewaxing catalyst is often utilized in order to minimize yield loss while improving cold flow properties. Unique to the IsoTherming® technology is the ability to offer customers a less costly option of utilizing a small amount of cracking dewaxing catalyst for cold flow property improvement with diesel yields > 95 wt%.
“We have built a strong relationship with Elessent over the last few years. The economic solution our teams have developed will allow us to continue to provide the region with the necessary fuel as regulations tighten in the coming years. We look forward to continuing to work together on this important project,” said Gabriel Faroppa, Engineering Director, RefiPampa.
Startup of the IsoTherming® Diesel Hydrotreater and Dewaxing Unit at the La Pampa, Argentina site is expected to take place by 2024.
The IsoTherming® hydroprocessing technology utilizes a novel liquid-phase reactor system offering distinct advantages over conventional hydroprocessing technologies in that it uses hydrogen and catalyst more efficiently. The IsoTherming® hydroprocessing technology is suitable for a wide range of applications, including 100% kerosene hydrotreating, 100% light cycle oil (LCO) hydrotreating, transmix hydrotreating, diesel hydrotreating, FCC feed hydrotreating (VGO hydrotreating), mild hydrocracking, dewaxing, gas-to-liquid (GTL) upgrading, and heavy oil upgrading for both grassroots and revamp configurations. The IsoTherming® technology has been licensed in 29 refineries worldwide with capacities ranging from 1,500 bpd (82 kmta) to 80,000 bpd (3,900 kmta), offering refiners a lower CAPEX and OPEX solution than conventional hydroprocessing options. Learn more at www.IsoTherming.ElessentCT.com.
About Elessent Clean Technologies
Elessent Clean Technologies is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries with an unwavering commitment to customer support. We provide extensive global expertise across our portfolio of offerings in key applications – MECS® sulfuric acid production, STRATCO® alkylation, BELCO® wet scrubbing and IsoTherming® hydroprocessing. Offering critical process equipment, products, technology and services, we enable an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity. We are dedicated to helping our customers produce high-quality products used in everyday life in the safest, most environmentally-sound way possible, with a vision to make the world a better place by creating clean alternatives to traditional industrial processes. Learn more at www.ElessentCT.com.
Elessent Clean Technologies, the Elessent Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of Elessent Clean Technologies Inc. unless otherwise noted.
Elessent Clean Technologies
Jeannie Branzaru
Tel: +1-913-406-6757
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IsoTherming® Hydroprocessing
Samantha Presley
Tel: +1-913-327-3586
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Free Report Provides a Top-Line Executive Summary of Production Data Across their Entire Organization
AUSTIN, Texas--(BUSINESS WIRE)--#DataIsTheNewOil--Zeno Technologies, a pioneer in helping energy-focused businesses thrive in the Production Era, has expanded its offering to include The Daily Report, available free to organizations that want a quick, real-time snapshot of the most important numbers driving their business performance. Each daily report is compiled directly from the company’s own data sources and curated into a concise, self-branded report to give C-suite executives and other stakeholders a comprehensive view of the organization’s key revenue-driving metrics.
“Working with leadership teams across the energy sector has shown us that a common frustration is their inability to know the pulse of their business day-in and day-out. Understanding daily production volumes and sales prices are essential to steer their businesses, yet a real-time view of this information remains elusive,” said Sealy Laidlaw, CEO of Zeno. “Making this daily report available as a free resource serves our mission to surface key data in a more meaningful way to help drive better business decisions, particularly as the industry grapples with the current uncertainties in the geopolitical landscape and growing market volatility.”
Completely Free, No Strings Attached
The Daily Report delivers a daily summary of top-line production volumes from across the subscriber’s business, and associated market value. The report, emailed directly to subscribers’ inboxes on a daily basis, includes daily production volumes for operated and non-operated wells, as well as the value of aggregated production based on the day’s market spot price.
Quick and Simple Setup
At Zeno, our mission is to make it easy for energy businesses to know their numbers. In this spirit of bringing data within easy reach, signing up for The Daily Report is quick and painless: simply register online, agree to some basic terms & conditions and use Zeno’s standard template to set up an automated daily upload of your company’s production data via The Daily Report’s secure analytics tool.
Ready to know your numbers? Visit https://zenotech.io/the-daily-report/ for more information and to sign-up for free.
About Zeno Technologies
Zeno Technologies helps energy-focused businesses thrive in the Production Era. The company’s Energy Operating System is used by energy companies, investors and partners to drive business performance by connecting entire organizations through data on a common platform, delivering real-time insights so their businesses can run on real numbers instead of best estimates. Zeno is privately held and headquartered in Austin, TX. For more information, visit www.zenotech.io.
John Snedigar
Faultline Communications
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408-705-7518
Schools, towns and villages unite to reduce their electricity costs
ROCKVILLE, Md. & LATHAM, N.Y.--(BUSINESS WIRE)--#NYSERDA--More than 28 municipalities and school districts across Jefferson, Lewis and St. Lawrence counties in New York are reducing their electricity costs and boosting the state’s clean energy portfolio with solar energy. Standard Solar, a nationally recognized solar energy company, and its partner, U.S. Light Energy, a New York-based distributed solar developer, have completed an 11.52 megawatt-combined solar project for members of the Tri-County Energy Consortium.
“Schools and community play a significant role in reaching students, parents, neighbors and local decision-makers to encourage clean energy action,” said Mike Streams, Chief Development Officer, Standard Solar, the project’s owner and operator. “We’re proud to have provided the funding needed to make this project happen and applaud the Tri-County Energy Consortium for its efforts and commitment to solar.”
“Members of the Consortium will collectively save between $400-$500/K annually from the arrays,” said John Warneck, Executive Director of the Tri-County Energy Consortium.
“With their dedication to accelerating the adoption of solar energy, Tri-County Energy Consortium is setting the standard for other communities to follow,” said Mark Richardson, CEO, U.S. Light Energy, the project’s developer. “This project’s success is underscored by the variety of challenges the team had to overcome, including changes in New York’s solar policy and the pandemic. Kudos to the team and the Consortium for persevering and pushing forward a great project helping them create a pathway to achieve their renewable energy goals.”
“Building these projects has been a challenging three-year process,” added Warneck. “But, even when things looked bleakest, U.S. Light Energy and Standard Solar kept at it and delivered for us. They are great partners.”
The approximately $7.6 million project received more than $1 million in funding from the New York State Energy Research and Development Authority (NYSERDA) through NY-Sun, the state’s signature $1.8 billion initiative to advance the scale-up of solar and make solar energy more accessible to homes, businesses, and communities. Each participating school district and local government will receive savings on their electric bills in proportion to the percentage of electricity they use out of the total for all participants.
About U.S. Light Energy
U.S. Light Energy is a Latham, New York-based distributed generation energy development company specializing in solar and renewable energy solutions, including community solar, for residential communities and commercial customers. We work on behalf of all interested parties: land and business owners, local authorities (AHJs), engineering firms, product vendors, contractors, and financiers to create distributed energy projects where everyone can participate in creating a better future for our children and our planet. For more information, visit www.USLightEnergy.com.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 250 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
For project acquisition and development inquiries, contact Daryl Pilon, This email address is being protected from spambots. You need JavaScript enabled to view it. and on LinkedIn.
PR:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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Eco-Friendly, Energy Efficient System Will Provide Prime and Emergency Backup Power
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #CCHP--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy-as-a-Service (EaaS) solutions, announced today that its exclusive distributor for the Mid-Atlantic, Southeastern U.S. and the Caribbean, E-Finity Distributed Generation, won an order for a C1000S system from TCR2 Therapeutics, a biomedical research and development company providing novel T-cell therapies for the treatment of various cancers.
The one megawatt (MW) order demonstrates the continued expansion of the low emission microturbine market in the commercial, industrial, and manufacturing space. The facility is expected to be commissioned in January 2023.
The energy project is part of the Massachusetts-based company's plans to establish an 85,000 square-foot cell therapy manufacturing facility in Rockville, Maryland. The new Combined Cooling Heat and Power (CCHP) system, fueled by natural gas, will feature a C1000S natural gas-fueled dual-mode system configured with multiple 200 kilowatt (kW) microturbines; Capstone integrated HRMs; and an E-Finity m-TIM Controller with comprehensive remote monitoring ERMS. The ERMS will monitor and control a 300-ton absorption chiller and all five HRMs to help ensure peak performance and system output. In the event of a utility outage, the system will immediately provide emergency backup power for critical loads on site.
This is the first facility of its type for TCR2, and the first energy system application of its kind in the United States. Some key reasons the company selected the Capstone Green Energy system include the degree of power reliability inherent with the multiple 200 kW units, the technology's extremely low emissions, high efficiency, and low noise levels. The system also qualified for financial support from PEPCO and Maryland Energy Administration CHP grants, which will reduce the company's capital expenditures and shorten the project payback period.
"Reliability is critical for this project," said Tom McGeehan, Vice President of Sales for E-Finity. "Any disruption to power can cost lives. Having the redundancy of the five 200 kW modular turbines that can operate independently of each other and in parallel are key. It is important that if one turbine is shut down for maintenance, the other four will continue to provide power."
"It is very gratifying to partner with E-Finity to build and operate a trigeneration system such as this one for TCR2 Therapeutics – a solution that will provide them with essential, reliable, environmentally-friendly, cost-effective power in support of their inspirational and life-saving work," said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. "Mission-critical applications like these are Capstone's specialty by giving company's peace of mind and the kind of energy independence that helps further the growth of their business."
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products 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 Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, 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 years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.
For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) today announced that it is commencing a cash tender offer (the “Excess Cash Flow Offer”) to purchase up to $9,305,000 aggregate principal amount (the “Excess Cash Flow Offer Amount”) of its outstanding 11.50% Senior Secured Second Lien Notes due 2025 (the “Notes”) at a purchase price of 100% of the aggregate principal amount thereof, plus accrued and unpaid interest to, but not including, the purchase date.
The Excess Cash Flow Offer is being made pursuant to requirements set forth in the indenture governing the Notes (the “Indenture”) that require if (i) the Partnership has Excess Cash Flow (as defined in the Indenture) for any 12 month period ending on December 31 of any fiscal year (any such period, an “ECF Period”) and (ii) as of the end of such ECF Period the Partnership’s Total Leverage Ratio (as defined in the Indenture) is greater than 3.75 to 1.00, the Partnership will make an offer to all registered holders (each a “Holder” and collectively, the “Holders”) of Notes to purchase the maximum principal amount of Notes that may be purchased with 25% of such Excess Cash Flow for such ECF Period.
The Partnership had Excess Cash Flow and a leverage ratio greater than 3.75 to 1.00 for the ECF Period ending December 31, 2021.
The Excess Cash Flow Offer will expire at 5:00 p.m., New York City time, on April 13, 2022, unless extended or the Excess Cash Flow Offer is earlier terminated by the Partnership, in its sole discretion such time and date as the same may be extended or earlier terminated. If the Notes in an aggregate principal amount in excess of the Excess Cash Flow Offer Amount are tendered pursuant to the Excess Cash Flow Offer, the Partnership will purchase Notes having an aggregate principal amount equal to the Excess Cash Flow Offer Amount on a pro rata basis from tendering Holders in accordance with the Indenture.
To the extent that the aggregate principal amount of Notes tendered pursuant to the Excess Cash Flow Offer is less than the Excess Cash Flow Offer Amount, the Partnership may use any remaining Excess Cash Flow Offer Amount for any purpose not otherwise prohibited by the Indenture.
The Excess Cash Flow Offer is being made pursuant to an Offer to Purchase, dated March 15, 2022 (the “Offer to Purchase”), which sets forth the complete terms and conditions of the Excess Cash Flow Offer. The Excess Cash Flow Offer is made only by and pursuant to the terms set forth in the Offer to Purchase, and the information in this press release is qualified by reference to such document. Subject to applicable law, the Partnership may amend, extend or terminate the Excess Cash Flow Offer. Copies of the Offer to Purchase may be requested from the tender agent for the Excess Cash Flow Offer, D.F. King & Co., Inc. at (800) 628-8532 (Toll-Free) or (212) 269-5550, by email at This email address is being protected from spambots. You need JavaScript enabled to view it., or via the following web address: www.dfking.com/mmlp.
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell any Notes.
THE EXCESS CASH FLOW OFFER IS BEING MADE ONLY PURSUANT TO THE OFFER TO PURCHASE THAT THE PARTNERSHIP WILL DISTRIBUTE TO ITS NOTEHOLDERS AND NOTEHOLDERS SHOULD READ CAREFULLY THE OFFER TO PURCHASE BECAUSE IT CONTAINS IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE EXCESS CASH FLOW OFFER. NOTEHOLDERS ARE URGED TO CAREFULLY READ THE OFFER TO PURCHASE PRIOR TO MAKING ANY DECISION WITH RESPECT TO THE EXCESS CASH FLOW OFFER.
About Martin Midstream Partners
MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP’s primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
Forward-Looking Statements
All statements in this release other than historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and all references to financial estimates rely on a number of assumptions concerning future events and are subject to a number of uncertainties, including (i) the current and potential impacts of the COVID-19 pandemic generally, on an industry-specific basis, and on the Partnership’s specific operations and business, (ii) the effects of the continued volatility of commodity prices and the related macroeconomic and political environment, and (iii) other factors, many of which are outside its control, which could cause actual results to differ materially from such statements. While the Partnership believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in anticipating or predicting certain important factors. A discussion of these factors, including risks and uncertainties, is set forth in the Partnership’s annual and quarterly reports filed from time to time with the Securities and Exchange Commission (the “SEC”). The Partnership disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events, or otherwise except where required to do so by law.
The information in the Partnership’s website is not, and shall not be deemed to be, a part of this notice or incorporated in filings the Partnership makes with the SEC.
MMLP-C
Sharon Taylor
Chief Financial Officer
(877) 256-6644
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HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Leading provider of energy services, Expro (NYSE: XPRO) has acquired 100% of Distributed Fiber Optic Sensing (DFOS) company, SolaSense Ltd.
Based in the UK, SolaSense’s well surveillance technology features portable processing software and enhanced visualization interface for delivering near real time analysis of distributed acoustic sensing (DAS) / distributed temperature sensing (DTS) data at the well site. This allows well characteristics to be readily recognized and evaluated, avoiding the shut-in of wells for extended periods and minimizing lost production.
Combined with Expro’s 50 years of well intervention and integrity experience, this acquisition will allow Expro to meet industry demand to provide customers with a unique one-stop-shop service for the in-depth evaluation of the entire well and also the provision of any subsequent remediation solutions.
Expro’s DFOS offering monitors dynamic behavior in the well, providing a health check of the well and an accurate diagnosis of any well and reservoir issues.
Compared to traditional completion deployed applications of fiber optic technologies, DFOS can be deployed thru-tubing and used to analyse and evaluate well performance and integrity within hours of the completion of the survey providing greater insight of the dynamic behaviour of the well, to help customers make important time-sensitive decisions. Supported by DFOS, it can provide an enhanced cased hole offering and integrated slickline mechanical services all within Expro.
Steve Russell, Expro’s Chief Technology Officer, commented: “We are committed to delivering cost-effective, innovative technologies and solutions, and best-in-class safety and service quality performance to our customers, all while advancing our commitment to creating a more sustainable business and lower carbon future.
“Access to representative well data is key for making informed well performance and integrity decisions. This acquisition allows us to build on our existing well intervention and integrity portfolio, leveraging the expertise from both companies to extend our customer’s wells’ lifespan, while reducing time and costs. Led by a highly skilled and dedicated team with extensive industry experience, we look forward to building on our digital solutions and welcoming the SolaSense team to the Expro family.”
John Davies, SolaSense CEO, said: “The SolaSense ambition has always been to see distributed fiber optic logging being used widely as a simple and affordable means of well performance and well integrity monitoring. The integration of SolaSense’s technology and expertise into Expro’s existing global well intervention footprint will fast track the realization of this ambition, and more importantly add value for the end customers through the wider uptake of fiber-enabled slickline deployed DFOS surveys. The SolaSense team are very excited about this significant development and look forward to supporting Expro in the fast and efficient expansion of DFOS well logging.”
About Expro
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and best-in-class safety and service quality. The company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well integrity and intervention.
Founded in 1938, Expro has more than 6,500 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, subsea well access activity and delivering technical and operational regional requirements, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Expro – Hannah Rumbles +44 (0) 1224-796729
Small and medium enterprises, non-profit organisations and high schools invited to submit entries before the 6 July 2022 deadline
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--The Zayed Sustainability Prize, the UAE’s pioneering global award for recognising organisations and high schools with sustainability solutions, has officially announced that the 2023 cycle is now open for submissions.
Entries will be accepted until 6 July 2022 through the Prize’s online portal. Small to medium enterprises, non-profit organisations and high schools with sustainability solutions are invited to submit an entry for consideration in one of the five categories of Heath, Food, Energy, Water and Global High Schools.
The Prize’s 2022 award cycle received a record-breaking 4,000 applications, marking a significant 68.5% increase in submissions compared to the previous cycle, from a record 151 countries.
Commenting on the launch of the 2023 submissions cycle, H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Director General of the Zayed Sustainability Prize said: “For the past 14 years, the Prize has proudly delivered on its goal of recognising and rewarding the achievements of those who are driving impactful, innovative and inspiring sustainability solutions. As we continue to build on this legacy, we look forward to awarding the next cadre of sustainability pioneers, who will drive real environmental and social change and generate an even greater positive impact on the world.”
H.E. Al Jaber added, “Young people remain an integral focus for the Prize and we are committed to empowering even greater numbers of future sustainability leaders by providing them with a platform to turn their bold ideas into reality through our Global High Schools category.”
“The Zayed Sustainability Prize continues to be a steadfast partner and thought leader in international sustainable development. By amplifying the critical work being done globally in health, energy, food and water, and facilitating the delivery of these solutions to vulnerable communities around the world through the Prize winners, we have helped transform the lives of more than 370 million people.”
The Prize’s US$3 million annual fund rewards winners US$600,000 in each category. The Global High Schools category is split into six world region winners, with each school able to claim up to US$100,000 to start or further expand their project. The six world regions of the Global High Schools category are The Americas, Europe & Central Asia, Middle East & North Africa, Sub-Saharan Africa, South Asia, and East Asia & Pacific.
Inspired by the sustainability and humanitarian legacy of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan, the Prize has, to date, recognised a total of 96 winners whose solutions or student-led school projects have positively transformed the lives of millions.
While the submission forms vary per category, core elements of each entry lie in the innovative, impactful and inspirational ways in which the proposed technology, applications and solutions aim to transform people’s lives for the better.
For the Health, Food, Energy, and Water categories, organisations should demonstrate that they are improving access to essential products or services and have a long-term vision for improved living and working conditions. For the Global High Schools category, their projects should be student–led, with emphasis placed on the students being actively involved in the planning, implementation, and monitoring processes.
The Zayed Sustainability Prize has a three-stage evaluation process, beginning with the due diligence conducted by an independent research and analysis consultancy. This identifies the qualified entries and results in the selection of eligible candidates. Following this, evaluations are undertaken by a Selection Committee consisting of category-specific panels of independent international experts. From this shortlist of candidates, the finalists are chosen and then sent to the Prize Jury who unanimously elect the winners, across all five categories.
Winners will be announced in 2023 during an Awards Ceremony as part of the Abu Dhabi Sustainability Week (ADSW).
For more information, visit www.ZayedSustainabilityPrize.com
About the Zayed Sustainability Prize
Established by the UAE leadership, in 2008, to honour the legacy of the founding father, the late Sheikh Zayed bin Sultan Al Nahyan, the Zayed Sustainability Prize is the UAE’s pioneering global award for sustainability and humanitarian solutions around the world.
The Zayed Sustainability Prize recognises and rewards small to medium-sized enterprises (SMEs), non-profit organisations (NPOs), and global high schools, that are committed to accelerating impactful sustainable solutions.
Over the past 14 years, the Prize has awarded 96 winners. Collectively, they have positively impacted the lives of more than 370 million people around the world. The Zayed Sustainability Prize categories are Health, Food, Energy, Water and Global High Schools.
For more information, please visit www.ZayedSustainabilityPrize.com or go to our social media platforms on, Twitter, Facebook, Instagram, YouTube.
*Source: AETOSWire
Hadi Hamdoun
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Manufacturing breakthrough will lead to quantum chips with the precision required to build the world’s first useful quantum computer
PALO ALTO, Calif.--(BUSINESS WIRE)--#fastcompany--PsiQuantum's partnership with GlobalFoundries (GF) has been included in Fast Company’s prestigious annual list of the World’s Most Innovative Companies. PsiQuantum is using GF’s advanced semiconductor manufacturing facilities to build the world’s first useful quantum computer, and the Fast Company award recognizes this unprecedented collaboration.
This year’s list honors businesses that are making the biggest impact on their industries and culture as a whole. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century. In addition to the World's 50 Most Innovative Companies, 528 organizations are recognized across 52 categories.
Quantum computing is anticipated to unlock the solutions to otherwise impossible problems and enable extraordinary advances across a broad range of applications including climate, healthcare, life sciences, energy and beyond. Whether it’s improving carbon capture catalysts, optimizing the energy grid, or modelling the chemistries of lifesaving drugs or new battery materials, quantum computers are key to solving many of the world’s most demanding challenges that will forever be beyond the capabilities of any conventional computer.
World-changing applications require a large-scale, fault-tolerant quantum computer built in a scalable and proven manufacturing environment. Silicon photonics and semiconductor chip manufacturing offer the scalability and manufacturability needed to deliver a commercially useful quantum computer on any sensible time or money scale.
PsiQuantum is building the world’s first commercially useful, fault-tolerant quantum computer based on breakthroughs in silicon photonics and quantum architecture. Its team of world-renowned quantum computing experts has developed unique technology in which single photons (particles of light) are manipulated using complex photonic circuits, patterned onto a silicon chip using standard semiconductor manufacturing techniques.
PsiQuantum and GF demonstrated a world-first ability to manufacture core quantum components, such as single-photon sources and single-photon detectors, with precision and in volume, representing a significant milestone in PsiQuantum’s roadmap to deliver a large-scale quantum computer. Fast Company recognized the collaboration between PsiQuantum and GF as one of the 10 most innovative joint ventures of 2022, an award category defined by Fast Company as “the best business pairings, whether one-off collaborations or new companies”.
“A commercially useful quantum computer has to be large, fault-tolerant, manufacturable, and scalable,” said Fariba Danesh, chief operating officer at PsiQuantum. “We have identified a clear path for building a large-scale quantum computer, leveraging our unique technology in silicon photonics and quantum system architecture, and the scalable and proven manufacturing processes of our semiconductor partner GF.”
“We are proud that our partnership with PsiQuantum has been recognized as one of the most innovative business pairings of 2022,” said Amir Faintuch, senior vice president and general manager of Computing and Wired Infrastructure at GF. “Our partnership is a powerful combination of PsiQuantum’s photonic quantum computing expertise and GF’s silicon photonics manufacturing capability that will transform industries and technology applications across climate, energy, healthcare, materials science, and government.”
Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their application process. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“The world’s most innovative companies play an essential role in addressing the most pressing issues facing society, whether they’re fighting climate change by spurring decarbonization efforts, ameliorating the strain on supply chains, or helping us reconnect with one another over shared passions,” said Fast Company Deputy Editor David Lidsky.
For the second year in a row, coinciding with the issue launch, Fast Company will host its Most Innovative Companies Summit on April 26 – 27. The virtual, multi-day summit celebrates the Most Innovative Companies in business and provides an early look at major business trends and an inside look at what it takes to innovate in 2022. Fast Company’s Most Innovative Companies issue (March/April 2022) is available online here, as well as in app form via iTunes and on newsstands beginning March 15. The hashtag is #FCMostInnovative.
About PsiQuantum
Powered by breakthroughs in silicon photonics and quantum architecture, PsiQuantum is building the first commercially useful quantum computer to solve some of the world’s most important challenges. PsiQuantum believes silicon photonics is the only way to achieve the necessary scale required to deliver a fault-tolerant, general-purpose quantum computer. With quantum chips now being manufactured in a world-leading semiconductor fab, PsiQuantum is uniquely positioned to deliver quantum capabilities that will drive advances in climate, healthcare, finance, energy, agriculture, transportation, communications, and beyond. To learn more, visit www.psiquantum.com.
Follow PsiQuantum: LinkedIn
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
© 2022 PsiQuantum. PsiQuantum and our logo are trademarks of PsiQuantum, Corp. in the U.S. and other countries. All other trademarks are the property of their respective holders.
Ashley Paula-Legge
+1 707-972-0073
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WILLISTON, Vt.--(BUSINESS WIRE)--$SIRC #benzinga--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced that it will issue results for fourth quarter and full-year 2021 after the market closes on Wednesday, March 30th, 2022. A conference call will be held on Thursday, March 31, 2022 at 8:30 AM EDT to review the Company’s financial results, discuss recent events and conduct a question-and-answer session.
A webcast of the conference call and accompanying presentation materials will be available in the Investor Relations section of iSun’s website at investors.isunenergy.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.
| To participate in the live teleconference: | ||
| Domestic Live: | 888-506-0062 | |
| International Live: | 973-528-0011 | |
| Conference ID: | 608529 |
|
| Webcast URL: | Click to be directed to the Webcast | |
| To listen to a replay of the teleconference, which will be available through April 12th, 2022: | ||
| Domestic Replay: | 877-481-4010 | |
| International Replay: | 919-882-2331 | |
| Conference ID: | 44808 |
|
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR Contact:
Tyler Barnes
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802-289-8141
BOSTON--(BUSINESS WIRE)--SES AI Corporation (NYSE: SES), headquartered in Boston, a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, today posted to its website a shareholder letter from Founder and CEO Dr. Qichao Hu. The shareholder letter provides an overview of SES and our path to commercialization.
“While the global markets have been turbulent, we are confident in our business plan and expect to achieve several milestones in 2022, including the delivery of the world’s first lithium-metal battery A-Sample to our OEM partners,” said Dr Hu.
The shareholder letter can be found on our website at https://investors.ses.ai/news/
About SES
SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for EVs and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: https://investors.ses.ai
SES may use its website as a distribution channel of material company information. Financial and other important information regarding SES is routinely posted on and accessible through the Company’s website at https://ses.ai. Accordingly, investors should monitor this channel, in addition to following SES’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
Forward-looking statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements.” Forward-looking statements can generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” and other similar expressions that predict or indicate future events or events or trends that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the development and commercialization of SES AI Corporation’s (“SES”) products, including in connection with joint development agreements, estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SES’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of SES. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; risks related to the ability of SES to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES’s battery technology and the timing and achievement of expected business milestones; the effects of competition on SES’s business; risks relating to SES’s history of no revenues and net losses; the risk that SES’s joint development agreements and other strategic alliances could be unsuccessful; risks relating to delays in the design, manufacture, regulatory approval and launch of SES’s battery cells; the risk that SES may not establish supply relationships for necessary components or pay for components that are more expensive than anticipated; risks relating to competition and rapid change in the electric vehicle battery market; safety risks posed by certain components of SES’s batteries; risks relating to machinery used in the production of SES’s batteries; risks relating to the willingness of commercial vehicle and specialty vehicle operators and consumers to adopt electric vehicles; risks relating to SES’s intellectual property portfolio; the ability of SES to issue equity or equity-linked securities or obtain debt financing in the future; and those factors discussed under “Risk Factors” in the proxy statement/prospectus of Ivanhoe Capital Acquisition Corp. relating to the business combination with SES, filed with the Securities and Exchange Commission on January 7, 2022. If any of these risks materialize or SES’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that SES presently knows and/or believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect SES’s expectations, plans or forecasts of future events and views only as of the date of this press release. SES anticipates that subsequent events and developments will cause its assessments to change. However, while SES may elect to update these forward-looking statements at some point in the future, SES specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing SES’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
© 2022 SES AI Corp.
Investors: Eric Goldstein This email address is being protected from spambots. You need JavaScript enabled to view it.
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Source: SES AI Corporation
HOUSTON--(BUSINESS WIRE)--SailingStone Capital Partners, a long-time owner of Turquoise Hill Resources Ltd. (TSX:TRQ) (NYSE:TRQ), has delivered the attached letter to the Turquoise Hill Independent Directors:
Dear Independent Directors of Turquoise Hill Resources Ltd.,
We note with interest the recently announced cash bid from Rio Tinto (“Rio”) to acquire the minority stake in Turquoise Hill (“TRQ”) for C$34/share, or approximately $2.7bn. While we appreciate that a formal process has now commenced, we want to take this opportunity to highlight our perspective on the proposal.
As you must know, Rio’s cash cost basis in Turquoise Hill is approximately $6.6bn or $63.70 per share, inclusive of their participation in the January 2014 rights offering which was the last time that Rio acquired equity in TRQ. Other than a write down in 2013 related to the temporary closure of Oyu Tolgoi and again in 2019 related to their own incompetence, Rio has never impaired this asset. Given the billions of dollars of capex that subsequently has been deployed, the significant de-risking that has occurred, and the coming wall of free cash flow that begins with sustainable first production in 2023, we strongly suggest that any assessment of fair value starts with Rio’s cash cost basis, particularly considering the impact that a much more robust commodity outlook and the time value of money have on TRQ’s valuation. An additional premium to compensate minority shareholders for losing access to an asset of this quality seems eminently reasonable.
On a related note, it is obvious that as the entity responsible for developing and operating the mine, Rio Tinto has access to a significant amount of material information which has yet to be released to the public. Specifically, TRQ management has indicated that updates to both the underground mine development plan and an open pit optimization are due in the next few months. Presumably neither the independent directors nor management has access to this information since it would have to be disclosed. And, presumably, the news can’t be all that negative or Rio would not be making a cash bid, although we are concerned that Rio now is clearly conflicted in terms of providing fulsome updates to its partners and the market. Given the history of poor governance and repeated attempts at minority suppression, the structural asymmetry of information, and the bid that is on the table, how can you be confident that you are or will be informed sufficiently to determine a full and equitable purchase price?
Third, we are confused by the sequence of recent events. In January of this year, TRQ and Rio announced an amended Heads of Agreement (“HOA”) which includes a mandatory minimum $650mm equity raise by Turquoise Hill to help address the funding gap caused by Rio’s inability to develop the underground mine on time and on budget. While it obviously is extremely expensive financing (albeit slightly less so after today’s announcement), the TRQ Board of Directors agreed to the new terms. TRQ directors are required by law to act in the best interest of all TRQ shareholders, not just their respective employers. Rio’s bid is conditional on TRQ not raising equity and, if successful with their proposal, will not be injecting high cost-of-capital equity to finish the underground development. Why does equity make sense when minorities are forced to participate but not when the entity which created the funding shortfall and which has been paid almost $1bn in fees has 100% control?
This leads us to our final point: valuation. Rio is bidding $2.7bn to acquire the remaining 49.2% of TRQ that they don’t own, compared to the $6.6bn spent to acquire 50.8% between 2006-2013. Even assuming much lower commodity prices than we are experiencing today, Turquoise Hill shareholders can reasonably expect a first dividend as early as 2025. Subsequently, free cash flow available for distribution ramps up to between $0.5-$4+bn per year, depending on your view of copper and gold prices. In other words, the bid represents less than a year of potential free cash flow for an asset that, according to Rio’s 2021 annual report:
By 2030…is expected to be the fourth largest copper mine in the world…It is also one of the most modern, safe, sustainable and water-efficient operations globally...The size and quality of this Tier 1 asset provides additional options, which could see production sustained for many decades.
Rio’s reminder in their proposal that “should Turquoise Hill investors not accept the Proposed Transaction, Rio welcomes their continued investment and equal share of future risks and funding obligations” is laughable. TRQ minorities are the only investors with pure equity risk in this project and we have suffered from Rio’s ineptitude along the way. Since Rio is convinced that “the terms of the proposal are compelling for Turquoise Hill shareholders,” surely the reverse is true as well. We would be more than happy to participate in a proposal to purchase Rio Tinto’s stake in TRQ for C$34/share.
These are not new issues. We first wrote to you on July 19, 2016, expressing our concern that Rio would attempt to leverage its access to material, non-public information within the context of a most advantageous governance structure to make an opportunistic bid for the TRQ minorities’ interest. Furthermore, we have highlighted repeatedly the potential conflict that exists between the Turquoise Hill independent directors and minority shareholders due to your lack of equity ownership. However, Rio has provided you with a golden opportunity to prove us wrong. We look forward to your response to their proposal.
In summary, this bid appears to be highly opportunistic, coming in the midst of an equity overhang caused by Rio’s mismanagement of both the project and the partnership and just ahead of mine completion with the accompanying free cash flow that will benefit all stakeholders for decades into the future. Furthermore, the commodity backdrop is as attractive as it has ever been, placing a premium on any long-lived, low-cost reserve base. We expect that you will review all of your options and will undertake all steps necessary to ensure that Turquoise Hill’s share price reflects its status as the owner of one of the most strategically important, structurally attractive assets in the world. We stand by, as always, to help in any way that we can.
Best regards,
SailingStone Capital Partners LLC
ABOUT SAILINGSTONE CAPITAL PARTNERS LLC
SailingStone Capital Partners, a division of Pickering Energy Partners, provides investment solutions in the global natural resource space with a specific focus on the industrial businesses, commodities and infrastructure assets which will enable the energy transition. SailingStone manages concentrated, long-only equity portfolios for institutional investors.
SailingStone
MacKenzie Davis
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Consolidated Utility District to Deploy Itron Solution to Conserve Water and Improve Operational Efficiency
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#AMI--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced a new contract with Consolidated Utility District (CUD) to deploy Temetra, Itron’s mobile meter data collection solution, in conjunction with Itron’s fixed network solution, to upgrade its Advanced Metering Infrastructure (AMI) and provide advanced capabilities such as active water leak detection and consumer portals. With Itron’s solution, CUD will be equipped to improve operational efficiency and customer service to its more than 160,000 customers across Rutherford County in central Tennessee. CUD plans to initiate the project in Q1 2022 and expects to have the system live this summer.
Utilizing Temetra, CUD will automate meter reading collection across their water distribution system and provide a seamless billing experience for their customers. The utility will improve billing accuracy and better visualize the interval data collected from meters, which will allow CUD to easily identify leaks and quickly address issues sooner. These advanced data collection capabilities will help conserve water and improve operational costs and efficiencies.
“CUD is one of the fastest-growing utility districts in Tennessee with more than 65,000 accounts throughout our service territory,” said Bryant Bradley, director of operations at CUD. “Itron’s solution will allow us to upgrade our existing water meters, which currently communicate with one-way automated meter reading modules. The upgrades will also equip CUD to improve customer service, protect revenue and better manage water resources with detailed usage information from the overall distribution system, including future leak sensors, shut off valves and network capabilities.”
“Itron looks forward to working with CUD to provide the insights and technology it needs to enhance operational efficiency and deliver reliable water service to customers. With our industry-leading cloud services, CUD will be able to improve operational efficiency and customer satisfaction,” said Don Reeves, senior vice president of Outcomes at Itron. “As water utilities look to conserve water resources, Itron is committed to building out water operations management outcomes services, such as leak detection, to address a broader set of use cases on top of meter data collection.”
Temetra is Itron's next-generation meter data collection solution. Through an intuitive web-based interface and powerful GIS-based mapping functionality, it provides utilities with powerful new ways to optimize operations. Temetra allows utilities to cost-effectively access and modify metering route assignments anywhere through a simple web login. With full Temetra Mobile integration, Temetra provides utilities with a complete, cutting-edge meter data collection package.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) highlights in its latest investor newsletter, "Interim Report," the Company's goal of reducing carbon emissions at least 80 percent by 2030 as it works toward net-zero carbon electricity by mid-century. The newsletter also includes the following topics:
- 2021 earnings
- Steady dividend growth
- Annual Corporate Responsibility and Sustainability Report
- Virtual annual meeting on May 17
The newsletter is available on MGE Energy's website at: https://www.mgeenergy.com/interimreport
Interim Report is published quarterly to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.4 billion, and its 2021 revenues were approximately $607 million.
Investor relations contact
Ken Frassetto
Director Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Recognition honors companies demonstrating exceptional leadership and a commitment to business integrity through best-in-class ethics, compliance, and governance practices
PORTLAND, Ore.--(BUSINESS WIRE)--Northwest Natural Holding Company (NW Natural Holdings) has been recognized by Ethisphere, a global leader in defining and advancing the standards of ethical business practices, as one of the 2022 World’s Most Ethical Companies.
It is the first year NW Natural Holdings has been recognized and is one of only nine honorees in the Energy & Utilities industry. In all, 136 honorees were recognized spanning 22 countries and 45 industries.
“As a 163-year-old company, our core values of integrity, safety, caring, service ethic and environmental stewardship are fundamental to everything we do,” said David H. Anderson, NW Natural Holdings president and CEO. “Receiving this distinction underscores our commitment to these values and honors our employees’ achievements on behalf of our customers.”
“Today, business leaders face their greatest mandate yet to be ethical, accountable, and trusted to drive positive change,” said Ethisphere CEO, Timothy Erblich. “We continue to be inspired by the World’s Most Ethical Companies honorees and their dedication to integrity, sustainability, governance, and community. Congratulations to NW Natural Holdings for earning the World’s Most Ethical Companies designation.”
Methodology & Scoring
Grounded in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity, and initiatives to support a strong value chain. The process serves as an operating framework to capture and codify the leading practices of organizations across industries and around the globe.
Honorees
The full list of the 2022 World's Most Ethical Companies can be found at https://worldsmostethicalcompanies.com/honorees.
About NW Natural Holdings
Northwest Natural Holding Company (NYSE: NWN) (NW Natural Holdings) is headquartered in Portland, Oregon and has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests. We have a longstanding commitment to safety, environmental stewardship and the energy transition, and taking care of our employees and communities. Learn more in our latest ESG Report.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 780,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage capacity in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. With all pending acquisitions closed, NW Natural Water will serve approximately 140,000 people through over 58,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
About Ethisphere
Ethisphere® is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. Ethisphere has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character and measure and improve culture. Ethisphere honors superior achievement through its World’s Most Ethical Companies recognition program and provides a community of industry experts with the Business Ethics Leadership Alliance (BELA). More information about Ethisphere can be found at: https://ethisphere.com.
NW Natural Media Contact
David Roy
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Ethisphere Media Contact
Anne Walker
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SAN RAMON, Calif.--(BUSINESS WIRE)--#DERs--Opus One Solutions from GE Digital and Bracebridge Generation Ltd. are working together to help shape the future of power delivery with Project SPEEDIER (Smart, Proactive, Enabled Energy Distribution - Intelligently, Efficiently and Responsive). A leading provider of distributed energy resource management system (DERMS) software, Opus One Solutions conducted a successful four-day islanding test at the recently-deployed community microgrid in Parry Sound, Ontario as part of the three-year project led by Bracebridge Generation, the generating subsidiary of Lakeland Holding Ltd.
Funded by the Natural Resources Canada’s Smart Grid Program, Project SPEEDIER is an islandable microgrid solution, consisting of a network of Distributed Energy Resources (DERS) -- solar generation, grid and residential scale battery energy storage, electric vehicle charging, and hot water tank controls. The microgrid was created by installing new smart switches and reclosers on a section of Lakeland Power Distribution’s electric grid.
“Renewable energy and smart grid technology are essential to Canada’s sustainable, prosperous, and inclusive energy future. This project will intelligently distribute clean energy in Parry Sound and will serve as a model for communities across the country looking to create jobs by building resilient, low-emission energy grids,” said the Honourable Jonathan Wilkinson, Canada’s Minister of Natural Resources.
Project SPEEDIER’s solution is designed to automatically respond to a variety of outage scenarios, utilizing the solar array and battery storage to provide power to 165 homes when the regular electricity supply is unavailable. The project can demonstrate how a rural municipality has the opportunity to defer capital cost upgrades to their local distribution and transmission infrastructure while providing grid resiliency to their customers.
“SPEEDIER evolved from a local capacity constraint into an advanced technology that would not only allow the utility distribution feeder to stay energized during outages but manage high load periods and enable sustainable energy solutions to take part, creating an environment where Net-zero is possible and electrification is enabled,” stated Vince Kulchycki, COO Lakeland Holding / Bracebridge Generation.
Through the integration of modern digital technology for advanced distribution energy management into traditional electric grids, Opus One Solutions GridOS® DERMS software will facilitate Bracebridge Generation in providing the residents of Parry Sound with resilient, reliable, and efficient use of renewable energy resources. The final testing proved this microgrid’s unique capability to island and provide a seamless transition from grid-connected to islanded mode and back. Earlier this year an unplanned outage occurred throughout the Town of Parry Sound, but SPEEDIER’s solution seamlessly kept the 165 homes energized.
“Project SPEEDIER represents an opportunity for Canada to shift toward a clean energy future. It serves as the template for local distribution grids to become sustainable, resilient, and customer centric local community microgrids, enabling decarbonization of the province and net-zero goals Canada wide,” says Joshua Wong, CEO Opus One Solutions from GE Digital. “This successful test demonstrates the significant role of advanced software in fully realizing the benefits of distributed energy resources.”
Click on these links for more information about the SPEEDIER project, Opus One Solutions, and GE Digital Grid Software.
About Bracebridge Generation
Bracebridge Generation Ltd. (www.bracebridgegeneration.com) is a subsidiary company of Lakeland Holding Ltd. wholly owned by the municipalities of Parry Sound, Bracebridge, Huntsville, Burk’s Falls, Sundridge and Magnetawan. Respecting the natural environment, this company generates environmentally friendly electricity; promotes the efficient use of electrical energy; maintains safety and operating standards for electricity generation; provides informative and instructional tours; maintains the historic richness of our facilities and continues to be a progressive industry leader.
About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.
© 2022 General Electric. All rights reserved. GE, the GE logo and GridOS are either registered trademarks or trademarks of General Electric in the United States and/or other countries. All other trademarks are the property of their respective owners.
Jennifer Montpetit
Lakeland Holding Ltd.
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Ellie Holman
GE Digital
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TAE Is NST’s Power Partner for 3-Year Sponsorship and Title Sponsor for 2022 Baldface Lodge, BC Competition
NELSON, British Columbia--(BUSINESS WIRE)--#BaldfaceLodge--TAE Technologies, the world’s leading developer of clean fusion, today announced a three-year partnership with the Natural Selection Tour (NST), uniting the two organizations in a shared commitment to sustainability and conserving the natural environment. NST is a world-class, one-of-its-kind snowboarding tournament showcasing riders competing on the planet’s most exciting natural(ly enhanced) terrain. TAE Natural Selection at Baldface premieres Wednesday, March 16 on www.NaturalSelectionTour.com.
Just as NST is on a mission to inspire a deeper relationship with Mother Nature, TAE is commercializing clean zero-emissions energy solutions to help preserve the environment for generations to come.
Travis Rice, professional snowboarder, founder of NST, and TAE’s new ambassador added: “NST and TAE are perfectly aligned in our desire to draw attention to climate change and reduce carbon emissions in an effort to protect the environment we thrive in. I am honored to help spread the word about TAE’s mission.”
In addition to being the title sponsor of the Nelson, BC leg of the tour, TAE is partnering with NST to install TAE’s power management tools and energy storage solutions for the first time with the goal to further offset the tour’s carbon footprint.
"We recognize the carbon footprint of this sport is large, and we want to hold ourselves accountable,” said Jeff Pensiero, co-founder and CEO of Baldface Lodge. “Baldface is reducing our carbon creation and dependency on fossil fuels with the help of industry leaders TAE. This will be a huge step forward towards our net zero goals.”
TAE’s power management solutions can scale to fit a range of applications, from generators in the Canadian backcountry to residential homes and electric vehicles. TAE’s trailblazing powertrain technology enables tangible performance improvements, including EVs that can drive up to 25% farther and charge up to 4x faster with improved cost efficiency and battery longevity. As seen in TAE’s “Art of the Ride '' commercial, in which snowboarder Rice races down a mountain alongside a Jaguar I-PACE, creating a healthy planet begins with learning not to waste what we have today.
The Art of the Ride commercial will debut during the livestream of the TAE Natural Selection Tour at Baldface on March 16, as well as its broadcast on ESPN 2 on March 20.
“NST and TAE are perfectly aligned in their mission to reduce carbon emissions and address the challenges of climate change,” said Jim McNiel, Chief Marketing Officer at TAE Technologies. “TAE is forging the path to perfect power by focusing first on improved energy efficiency, and ultimately on the development of carbon-free, non-radioactive fusion energy. We intend to support NST’s mission to celebrate the great outdoors and the achievements of their great athletes while reducing our carbon footprint. We are thrilled to be members of the rapidly expanding NST family.”
TAE’s Path to Perfect Power will curb human impact on the environment by offering a natural solution to climate change and bring clean, affordable energy to all. To learn more about TAE’s Path to Perfect Power, click here. For more information on TAE Technologies, click here.
About TAE Technologies
TAE Technologies (pronounced T-A-E) was founded in 1998 to develop commercial fusion power with the cleanest possible environmental profile. The company’s pioneering work represents the fastest, most practical, and economically competitive solution to bring abundant clean energy to the grid. With over 1,700 patents filed and over 1,100 issued; more than $880M in private capital; six generations of National Laboratory-scale devices; and an experienced team of over 250 employees, TAE is now on the cusp of delivering this transformational energy source capable of sustaining the planet for thousands of years.
The company’s revolutionary technologies have produced a robust portfolio of commercial innovations in large adjacent markets such as power management, energy storage, transmission, electric mobility, life sciences, and more. TAE is based in California, and maintains international offices in the UK and Switzerland. Multidisciplinary and mission-driven by nature, TAE is leveraging proprietary science and engineering to create a bright future.
About the Natural Selection Tour
The brainchild of snowboarder Travis Rice and shared vision with the broader snowboarding community, the Natural Selection Tour showcases the world’s top riders from Olympians to big mountain film icons all competing on the planet’s most exciting natural(ly) enhanced terrain. Dream venues, a head-to-head format and no practice runs are part of the dynamic components that will keep viewers on the edge of their seats. With a mission to inspire people to forge a deeper relationship with Mother Nature, the Tour features three stops in Jackson Hole Mountain Resort, Wyoming; Baldface Lodge, British Columbia; and the Tordrillo Mountains, Alaska. The Natural Selection Tour culminates with the crowning of a men’s and women’s champion; the best all-mountain freestyle riders in the world. NaturalSelectionTour.com
Media Contact for Natural Selection Tour
Lora Bodmer, Deep Communications
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307-690-1630
Media Contact for TAE
Tanya Correa, Silverline Communications
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202-487-4534
Elite Roof & Solar helps lead the market shift to integrated solar roofs and mass market adoption of solar energy in North and South Carolina
CHARLOTTE, N.C.--(BUSINESS WIRE)--#bestroofingcompanies--Elite Roof & Solar, the premier roof and solar company in the Carolinas, today announced their selection as an exclusive solar installer for GAF Energy’s award-winning Timberline Solar™ shingle. Elite Roof & Solar is one of less than 50 contractors in the country and one of only 4 contractors in the Carolinas that have been selected to help launch GAF Energy’s Timberline Solar™ shingle.
Timberline Solar™ is the only roof system to directly integrate solar technology into traditional roofing processes and materials. This new system incorporates the world’s first nailable solar shingle, the Timberline Solar Energy Shingle™ (ES), which will be assembled domestically at GAF Energy’s manufacturing and R&D facility in San Jose, California—creating American jobs and delivering a revolutionary product with the potential to drive a seismic shift in residential clean energy adoption. The Timberline Solar ES™ has received three awards from the 2022 Consumer Electronics Show (CES), including its highest honor, the Best of Innovation award, for “Smart Cities.” The product was also named an Innovation Award honoree in both the “Smart Cities” and “Smart Home” categories.
Elite Roof & Solar was selected by GAF Energy as an exclusive provider due to Elite’s superior workmanship, excellent customer service, focus on innovation, and proven track record as a roofing contractor over the last 10+ years in the Carolinas. Elite was already recognized among the best roofing companies in the country though its certification as a GAF Master Elite Contractor and as a GAF President’s Club award winner for the prior four consecutive years. Elite Roof & Solar is now among an even more exclusive group of certified Timberline Solar installers.
“For a long time, we have believed strongly that the roofing industry was moving towards a convergence with solar,” said Mick Koster, president of Elite Roof & Solar. “The new relationship between Elite Roof & Solar and GAF Energy presents a tremendous opportunity for our customers to have the best of all worlds – an innovative, premium solar roof system, installed by our world-class crews, at an affordable price, and with an outstanding warranty. When homeowners are ready to replace their existing roofs, finally they can have both a new roof and solar energy through one contractor, with one warranty, and with greater peace of mind. We’ve essentially eliminated all the inconvenience, cost, and risk of traditional photovoltaic solar panels installed on the top of existing roofs.”
“Solar roofs are the future of clean energy, and Timberline Solar is the game-changing innovation that will get us there,” said Martin DeBono, president of GAF Energy. “At GAF Energy, we have the capacity to scale this technology like no one else through GAF, bringing an integrated solar product that is weatherproof, affordable, and design-minded to homeowners across the country. We’re excited to lead the next generation of clean energy adoption.”
About Elite Roof & Solar
The Elite Roof & Solar team is driven by a singular purpose – to put a smile on our neighbors’ faces by protecting their families and homes with a safe, beautiful, and innovative roof over their heads. We are the premier roof and solar company in the Carolinas driven to provide superior workmanship, innovative products, award-winning service, and an easy customer buying experience for both residential and commercial customers. We are a veteran owned and operated company with over 5,000+ customers having trusted us for their roofing needs since 2012. For more information, visit www.eliteroofandsolar.com, www.instagram.com/elite_roof_and_solar/, www.linkedin.com/company/elite-roofing-solar, or www.facebook.com/Elite-Roof-Solar-106061545371398.
About GAF Energy
GAF Energy is transforming the rooftop solar industry to generate “Energy from every roof™”. As a Standard Industries company, GAF Energy works in partnership with North America’s largest roofing and waterproofing manufacturer, GAF, offering homeowners elegant, roof-integrated solar options. The company also facilitates commercial tax equity financing for large-scale rooftop solar projects. For more information, visit www.gaf.energy.
Mick Koster
704.274.1988
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