Eco-friendly Systems To Provide Cost Effective Power for Education and Agriculture
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #CGRN--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, will be enabling two new customers in the education and agricultural sectors to achieve their energy, reliability and environmental goals. Cal Microturbine, Capstone’s exclusive distributor for California, Hawaii, Nevada, Oregon and Washington, has secured two orders for Capstone Green Energy Signature Series systems in Southern California. The first order for one C600S unit will be installed for a customer in the education space, while the second order for two C1000S units will be provided to a customer in the agriculture industry. All the systems are expected to be operational by the early part of 2023.
“Capstone Green Energy continues to build its portfolio as a cutting-edge provider of clean energy solutions and technology. Our distinct product lines help customers across industries and sectors in California and around the world find green energy solutions. Customers choose Capstone to meet their energy needs while boosting the reliability of their energy supply, improving predictability of energy costs and lowering their carbon footprint,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy.
In both cases, customers selected Capstone’s microturbine technology for its low emissions while also providing the best overall value for lifecycle cost and operational cost savings. In the case of the C600S installation for the education customer, the unit will be part of a microgrid installed concurrently with the microturbine system. Both systems will be fueled by natural gas and will feature Capstone’s Logic Controller (CLC) which allows for fully automated control of the energy system.
“Capstone’s C1000 Signature Series microturbines are maturing nicely as they mark their fifth year in the market. We see them as the most reliable on-site power generation technology available today. The C1000 Signature Series possesses a unique modular design, which allows for unprecedented redundancy in the most cost-effective way. Further, the modular infrastructure provides customers with several other competitive advantages: increased reliability, efficient serviceability without operational interference, and the ability to expand energy production needs as businesses grow. We are excited to see California’s continued focus on adopting Capstone’s Signature Series microturbine product array,” said Cal Microturbine Chief Executive Officer, Ryan Brown.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three full fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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RICHMOND, Va.--(BUSINESS WIRE)--Dale G. Mullen, a partner in Whiteford’s Richmond office, has been appointed to the Virginia Board of Accountancy by Governor Glenn Youngkin. "Together, we are building a team of qualified individuals who will work to make Virginia the best state to live, work, and raise a family,” said Governor Glenn Youngkin in the Commonwealth’s May 13 Press Release announcing the nominations. “I'm thankful for those who will join our Administration, and all who will contribute their time and expertise in service to our commonwealth." Dale Mullen was sworn in by Secretary of the Commonwealth Kay Coles James on March 15. The mission of the VBOA is to protect the citizens of the Commonwealth through a regulatory program of licensure and compliance of CPAs and CPA firms. “It is a tremendous honor to serve in this capacity,” Mr. Mullen said.
Mr. Mullen brings decades of experience and a deep understanding of the impact of government regulation on licensed professionals and business. He represents clients throughout the United States on federal and state rulemaking, permitting and enforcement in highly regulated industries including financial regulation, utilities, energy and export compliance. He leads Whiteford’s Regulatory Compliance, Administrative Law and Government Investigations practice and is admitted to practice in Virginia, New York and the U.S. District Courts of the District of Columbia.
John Selbach, Co-Chair of the firm’s Business and Corporate Law Section, said, “Accountants play an indispensable support role in any merger or acquisition, and Whiteford is proud to support the Commonwealth of Virginia and the community of Certified Public Accountants.”
Mr. Mullen has been recognized as a “Legal Elite” by Virginia Business Magazine, a “Leading Lawyer for Business” by Chambers USA, and by Best Lawyers in America. A United States Navy veteran, he has served in the Organized Crime Division of the Richmond Police Department and as a Command Sergeant of the Audit and Inspections Unit, Assistant Attorney General and Chief Prosecutor for the Commonwealth of Virginia, Special Assistant United States Attorney (SAUSA), county attorney and county administrator. During his time at the Virginia Office of the Attorney General, he implemented strategies for regulatory and compliance fraud prosecutions that contributed to national recognition and an award for civil and criminal fraud recoveries in excess of $535 million.
Mr. Mullen is a graduate of the T.C. Williams School of Law (2002), where he was an Articles Editor for the University of Richmond Law Review and later served as Adjunct Faculty and Law Skills Instructor. He has served as Adjunct Faculty to Virginia Commonwealth University (VCU) and holds certificates in Sustainable Business Strategies (Harvard Business School, 2021), Negotiation Mastery (Harvard Business School, 2020), and Negotiation (University of Michigan, 2020).
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LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) today announced that it is soliciting consents (the “Consent Solicitation”) from holders of its outstanding 7.125% Senior Notes due 2026 (the “Notes”) as of 5:00 p.m. New York City time, on June 3, 2022 (the “Record Date”) to a proposed amendment to the indenture governing such Notes (the “Indenture”). The Consent Solicitation is being made solely upon the terms and conditions described in the Company’s Consent Solicitation Statement, dated June 6, 2022 (the “Consent Solicitation Statement”). The Consent Solicitation will expire at 5:00 p.m., New York City time, on June 10, 2022, unless extended or earlier terminated by the Company (the “Expiration Date”).
Certain details regarding the Notes and the Consent Solicitation are set forth in the table below.
Title of Notes |
CUSIP Numbers |
Aggregate Principal Amount Outstanding (U.S. $) |
Consent Payment per U.S. $1,000 Principal Amount of Notes |
7.125% Senior Notes due 2026 |
13057QAH0 13057QAJ6 U1303AAE6 |
$600,000,000 |
$10.00 |
The Company is soliciting consents (“Consents”) from the holders of the Notes for a proposed amendment to the Indenture to provide the Company and its Restricted Subsidiaries (as defined in the Indenture) with the ability to make unlimited Restricted Payments (as defined in the Indenture) subject to compliance, on a pro forma basis, with a Total Leverage Ratio (as defined in the Indenture) of no greater than 1.50:1.00 (the “Proposed Amendment”).
Adoption of the Proposed Amendment requires Consents from the holders of a majority in aggregate principal amount of the outstanding Notes (the “Requisite Consents”). In the event that the Company receives the Requisite Consents on or prior to the Expiration Date, the Company will pay an aggregate cash payment equal to $10.00 per $1,000 principal amount of Notes for the Consents that are validly delivered and unrevoked (the “Consent Payment”) to the holders who delivered such valid and unrevoked Consents on or prior to the Expiration Date. No accrued interest will be paid on the Consent Payment. If the Proposed Amendment becomes operative with respect to the Notes, holders of the Notes that do not deliver valid and unrevoked Consents with respect to their Notes prior to the Expiration Date, or at all, will be bound by the Proposed Amendment. In addition, such holders will not receive the Consent Payment.
The Consent Solicitation is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Consent Solicitation Statement, including the receipt of the Requisite Consents. The Company intends to fund the Consent Solicitation, including fees and expenses payable in connection with the Consent Solicitation, with cash on hand.
MUFG Securities Americas Inc. and Citigroup Global Markets Inc. are the Joint Solicitation Agents. Global Bondholder Services Corporation has been retained to serve as the Information and Tabulation Agent for the Consent Solicitation. Persons with questions regarding the Consent Solicitations should contact MUFG Securities Americas Inc. at (toll free) (877) 744-4532 or (New York) (212) 405-7481 or Citigroup Global Markets Inc. at (toll free) (800) 558-3745 or (collect) (212) 723-6106. Requests for the Consent Solicitation Statement should be directed to Global Bondholder Services Corporation at (toll free) (855) 654-2015 or (collect) (212) 430-3774 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it..
None of the Company, the Joint Solicitation Agents, the Information and Tabulation Agent, the trustee under the Indenture or any of their respective affiliates is making any recommendation as to whether holders should deliver Consents in response to the Consent Solicitation. Holders must make their own decision as to whether to participate in the Consent Solicitation, and, if so, the principal amount of Notes in respect of which to deliver Consents.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Consent Solicitation is being made only pursuant to the Consent Solicitation Statement and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of the Company by the Joint Solicitation Agents, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About California Resources Corporation
CRC is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing Carbon Capture and Storage and other emissions reducing projects.
Forward-Looking Statements
All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements regarding the Consent Solicitation, the timing thereof, and the Company’s intention to fund the Consent Solicitation, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company’s business, most of which are difficult to predict and many of which are beyond the Company’s control. These risks include, but are not limited to, the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequently filed Quarterly Report on Form 10-Q.
Joanna Park (Investor Relations)
818-661-3731
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Richard Venn (Media)
818-661-6014
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SAN RAMON, Calif.--(BUSINESS WIRE)--GE Digital, the leading software innovator enabling the power generation and energy industries, today announced that it has achieved Amazon Web Services (AWS) Energy Competency status. This designation recognizes that GE Digital has demonstrated deep expertise leveraging AWS to build, implement, and integrate technology that transforms complex business and operational systems to help accelerate the energy transition.
AWS is enabling scalable, flexible, and cost-effective solutions from multiple enterprises. To support the seamless integration and deployment of these solutions, AWS established the AWS Competency Program to help customers identify AWS Partners with deep industry experience and expertise.
“Software plays a vital role in improving the productivity, reliability, and efficiency of energy production,” said Linda Rae, General Manager of GE Digital’s Power Generation and Oil & Gas business. “Achieving the AWS Energy Competency differentiates GE Digital as an AWS Partner with demonstrated AWS technical expertise and proven customer success in the energy industry.”
GE Digital’s Asset Performance Management (APM) solutions for both Power Generation and Oil & Gas industries were the basis of receiving the AWS Energy Competency status. These software solutions are designed to help optimize the performance of industrial assets to increase reliability and availability, to minimize costs, and reduce operational risks. For power generation, this is an imperative as plants must be able to reliably respond to more dynamic operating models as more and more renewables are added.
To receive the AWS Energy Competency Partner status, AWS Partners undergo a rigorous technical validation process, including a customer reference audit. The AWS Energy Competency provides energy customers the ability to more easily select skilled partners to help accelerate their digital transformation with confidence.
“APM is a foundational accelerator to address the needs of the energy transition,” concluded Rae. “Our AWS Energy Competency status allows us to work closely with AWS to help our customers achieve their energy transition goals.”
Click on these links for more information about GE Digital’s Power Generation and Oil & Gas software solutions.
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 associated products 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.
Media:
Ellie Holman
GE Digital
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DALLAS--(BUSINESS WIRE)--Grey Rock Investment Partners (“Grey Rock”), through its affiliated investment vehicles, today announced an agreement to make a controlling investment in Vault CCS Holdings, LP (“Vault 44.01” or “Vault”) and fund additional growth of the company through a capital commitment of up to USD$150 million. Vault plans to use the committed capital to execute on its near-term actionable pipeline of Carbon Capture and Storage (“CCS”) projects, as well as the continued development of further opportunities in the CCS space. Vault has developed an extensive platform of actionable CCS projects with ethanol facilities in the Midwest region, each of which emits between 200,000 and 500,000 tonnes of CO2 per year; and has secured positions in several high quality, early-stage CCS projects in Canada. Vault’s pipeline of projects spans a range of industrial sectors across multiple regions of North America.
Led by Chief Executive Officer Scott Rennie who has more than 20 years of energy industry experience including leading CCS efforts within ConocoPhillips and Schlumberger Carbon Services, the Vault 44.01 team possesses a comprehensive project development skill set with expertise in geoscience, engineering, land management and project execution. Similarly, through its energy investments, Grey Rock’s team has a deep technical skill set which is complementary to that of Vault and which has proven valuable as the teams have collaborated closely on certain projects.
“In Grey Rock, we found a like-minded investment partner whose stellar investment track record and technical approach represents the type of capital partner that we feel will support our objective of developing and executing high quality CCS projects with a range of industrial partners across North America,” said Rennie. “Having a partner who understands the fundamentals of our business is critical in moving quickly to bring projects to fruition and support effective scaling of the emerging CCS industry.”
“We find carbon capture and sequestration to be one of the most compelling opportunities in the energy transition. After having met with several CCS teams, it was clear to us that Vault was the right fit for us in how we approach investments,” said Matt Miller, Co-Founder and Managing Director at Grey Rock. “The team evaluates projects from a 'technical-first' perspective allowing them to quickly screen opportunities which have a high probability of success and to focus their efforts on high quality projects with compelling risk-reward profiles.”
CCS is the process of capturing CO2 emissions from industrial emitters and converting the CO2 into a liquid form that can be safely transported and sequestered underground permanently. The process reduces the amount of CO2 that would have entered the atmosphere otherwise. The use of CCS significantly reduces a facility’s carbon footprint and supports the global initiative to combat climate change. Vault’s current pipeline of projects has the potential to capture and store up to 25 million metric tonnes of CO2 per year, which is the equivalent of removing 5.4 million cars from the roads per year or building a forest the size of Pennsylvania.
About Grey Rock Investment Partners
Grey Rock Investment Partners is a private equity firm with more than $1.3 billion in asset value. The firm invests across the energy value chain including carbon capture, industrial electrification, power optimization and natural resources. For more information, visit www.grey-rock.com
About Vault 44.01
Vault is a leading carbon capture & storage developer focused on the development, capitalization, and operation of carbon storage assets throughout North America. Vault’s core management, technical, and execution team brings over 40 years of direct carbon sequestration experience, with involvement in the development of carbon storage projects across North America since 2007, including each of the three currently operating carbon storage projects in saline aquifers in North America as well as many others.
Vault’s capabilities in carbon sequestration span feasibility, design, permitting, stakeholder engagement, construction, and operations. The company is currently engaged in 15+ emerging CCS projects throughout North America that range from single emitter sourced, on-site sequestration projects through to the origination and development of large multi-emitter CO2 sequestration hubs. For more information, visit www.vault4401.com.
Grey Rock
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Vault 44.01
Matthew Kielbasinski, CFO
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BOSTON--(BUSINESS WIRE)--SES AI Corporation (NYSE: SES), 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 announced that management will participate and host one-on-one meetings at the following investor conferences.
RBC Global Mining & Materials Conference
Date: June 9, 2022
Location: New York City
https://www.rbccm.com/en/about-us/conferences.page
Evercore Global Clean Energy & Transition Technologies Summit
Date: June 14, 2022
Location: New York City
https://investors.evercore.com/static-files/0c8e7109-a773-4174-a471-588192973726
Deutsche Bank Global Auto Industry Conference
Date: June 16, 2022
Location: New York City
https://conferences.db.com/americas/auto1regform
Credit Suisse 2022 Virtual Mobility Conference
Date: June 21, 2022
Location: Virtual
https://www.credit-suisse.com/us/en/investment-banking/global-markets/equities/cash-equities/corporate-access-calendar.html
Wells Fargo Electric Vehicle Mini Conference
Date: June 23, 2022
Location: New York City
https://wellsfargo.dealogic.com/clientportal/Conferences/Conference
About SES
SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (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 Solid Energy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: ses.ai/investors/
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 www.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.
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Company has raised approximately $400 million since late 2020 and deployed roughly $270 million to date
DALLAS--(BUSINESS WIRE)--Spicewood Mineral Partners (“Spicewood”), a leading Dallas based mineral and energy investment firm, today announced the final closing of Spicewood Mineral Partners, L.P. (the “Fund”) with $250 million of total capital commitments. The Fund was substantially oversubscribed and exceeded its target of $200 million. Spicewood attracted backing from a diverse group of limited partners in the U.S., including endowments, foundations, fund of funds, RIAs and family offices.
“We are thankful for the support and confidence of our partners in this first outside capital fund,” said John Golden, Partner and Co-Founder of Spicewood. “Our team continues to believe in the highly attractive risk return profile of U.S. mineral assets, including Spicewood’s differentiated investment strategy, focusing on the acquisition of core assets at a value basis.”
With the Fund complete, along with two additional co-investment vehicles, Spicewood has raised approximately $400 million since December of 2020. The company has already invested roughly $270 million of the capital.
Spicewood’s investment strategy focuses on an in-depth technical understanding of the asset base, opportunistically buying off-market producing and non-producing minerals in core areas of the preeminent U.S. basins.
About Spicewood
Spicewood Mineral Partners is a Dallas-based U.S. mineral and energy investment firm. We are an investment and technology-driven firm focused on the acquisition, aggregation, and management of mineral & royalty assets within the top-tier U.S. basins, where we have downside protection from low break-even drilling economics, deep inventory potential and highest quality resource potential. Spicewood utilizes its investment process, in-house technical expertise and industry relationships in an effort to provide attractive risk-adjusted returns to its investment partners. Spicewood’s mineral strategy is designed to provide current income for yield-focused investors. The Spicewood team is currently supported by nine investment and technical professionals with 100+ years of combined experience in the oil and gas industry.
For more information about Spicewood, please visit www.spicewoodpartners.com.
John Golden
Spicewood Mineral Partners
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ROCKPORT, Texas--(BUSINESS WIRE)--Yamaha Rightwaters recently joined forces with Texas A&M University-Corpus Christi’s® Harte Research Institute and the Coastal Conservation Association (CCA®) to initiate a new conservation project designed to evaluate the role of oyster reefs in capturing and storing carbon in St. Charles Bay in the Gulf of Mexico. The ultimate goal is to then potentially scale the program to a larger scope.
“By reducing carbon dioxide through projects like this, we can reduce ocean acidification,” said John O’Keefe, Senior Specialist, Government Relations, Yamaha U.S. Marine Business Unit. “Yamaha Rightwaters promotes sustainability, conservation and research in the United States and worldwide. The Harte Research Institute’s oyster study is the perfect example the meaningful research projects we look to support.”
On May 17, 25 volunteers representing Yamaha Rightwaters, CCA and the Harte Research Institute met at Goose Island State Park to place roughly 3,500 pounds of recycled oyster shells back into St. Charles Bay to help restore degraded oyster habitat. The Harte Research Institute is currently studying the viability and effectiveness of “recycling” oyster shells typically discarded or sold by area restaurants to rebuild or reestablish oyster reefs. These reefs make it easier for oyster larvae to find suitable places to attach and grow. While the group hand-filled dozens of biodegradable cellulose bags with shells and placed them in shallow water, a large barge with a backhoe deposited tons of reclaimed oyster shells into deeper water, complementing the shallow water restoration effort.
The project takes aim at a current challenge. According to The Nature Conservancy®, at least 50 percent of the original oyster reefs along the Gulf coast have disappeared, challenged by over-harvest, hurricanes, drought and floods in the last decade. According to NOAA® Fisheries, the Gulf Coast produces nearly 50 percent of the nation’s $250 million oyster industry. In addition, oysters annually contribute approximately $50 million to the Texas economy.
“Once the reefs are established, they provide valuable habitat for fish, shrimp and crabs, as well as oysters,” said Dr. Jennifer Pollack, Chair of Coastal Conservation and Restoration at the Harte Research Institute. “Oyster reefs also protect shorelines from erosion because they form natural, living breakwaters. We are also learning about the role that oysters play in capturing and storing carbon from the atmosphere.”
Dr. Pollack went on to say that oysters also improve overall water quality through their filter feeding activities, and they create habitat that increases increase fish production and supports recreational angling.
The National Coastal Conservation Association (CCA) joins Yamaha Rightwaters as a financial sponsor of the oyster study. Founded in 1977, CCA advocates for marine conservation.
“CCA has been a part of any number of projects, but this is where some of the most important science is going on right now for anglers in Texas and all over the country,” said CCA President Pat Murray. “Number one, this project is building oyster reefs, critical for the marine ecosystem, but it’s also establishing areas where science will quantify the carbon sequestration value of oysters. Among the many issues challenging us today, reducing carbon dioxide is clearly a priority for a better future for our nation and the world.”
Yamaha Rightwaters is a national sustainability program that encompasses all of Yamaha Marine’s conservation and water quality efforts. Program initiatives include habitat restoration, support for scientific research, mitigation of invasive species, the reduction of marine debris and environmental stewardship education. Yamaha Rightwaters reinforces Yamaha’s long-standing history of natural resource conservation, support of sustainable recreational fishing and water resources and Angler Code of Ethics, which requires pro anglers to adhere to principles of stewardship for all marine resources.
Yamaha’s U.S. Marine Business Unit, based in Kennesaw, Ga., is responsible for the sales, marketing, and distribution of Yamaha Marine products in the U.S. including Yamaha Outboards, Yamaha WaveRunners®, Yamaha Boats, G3 Boats and Skeeter Boats. Supporting 2,400 dealers and boat builders nationwide, Yamaha is the industry leader in reliability, performance, technology and customer service.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
Nicholas Genesi
Public Relations Manager
Yamaha U.S. Marine Business Unit
Mobile: (470) 898-7278
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Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
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– Demonstrates consistently superior solar credit quality relative to peers –
NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--Sunlight Financial Holdings Inc. (“Sunlight Financial”, "Sunlight" or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale financing company, today announced updated credit loss rates for solar loans originated by Sunlight Financial between 2018 and 2020.
Solar loans that Sunlight originated in 2018, 2019 and 2020 had an average loss rate of 1.61%, 1.24% and 0.39%, respectively, considerably outperforming loans of similar size and term financed by solar loan peers in the ABS markets during the same time periods. While Sunlight does not hold loans on its own balance sheet, it tracks the performance of loans originated through its proprietary point-of-sale platform Orange® in order to ensure high-quality credit performance for its capital providers.
"We are very proud of our continued best-in-class credit performance, as managing risk prudently and maintaining industry-leading credit quality has always been a core pillar of Sunlight’s success,” said Matt Potere, Chief Executive Officer at Sunlight. “Credit quality is a true differentiator, particularly in a rising rate environment, as meeting our capital partners’ return thresholds drives continued demand for Sunlight’s loans, enabling sufficient funding supply at attractive pricing for Sunlight’s contractor network.”
Sunlight’s Industry-Leading Credit Loss Rates
|
|
2018 Vintage |
|
2019 Vintage |
|
2020 Vintage |
|
|
|
|
|
|
|
Sunlight Financial |
|
1.61% |
|
1.24% |
|
0.39% |
|
|
|
|
|
|
|
Peer A |
|
3.35% |
|
1.60% |
|
0.80% |
Peer B |
|
3.02% |
|
2.15% |
|
-- |
Peer C |
|
-- |
|
3.30% |
|
0.84% |
Peer D |
|
-- |
|
1.60% |
|
0.65% |
|
|
|
|
|
|
|
Peer Average |
|
3.18% |
|
2.35% |
|
0.82% |
| Source: Kroll ABS performance reports, internal performance reports as of May 2022. 2018, 2019, and 2020 Vintages reflect loss rates at 36, 24, and 15 months, respectively. |
| Note: Reflects gross losses for 2018-2019 and net losses for 2020. Loss rates for peers with multiple ABS deals in a given vintage year reflect an average of all issuances. |
Credit Risk Management is a Core Pillar of Success
Superior credit risk management has always been at the heart of Sunlight’s business model. The Company’s management team has significant consumer credit experience across a wide variety of asset classes and multiple credit cycles, which drives a deep understanding of the importance of credit quality to maintain sufficient access to low-cost capital.
In March 2022, Sunlight announced the rollout of Credit 5.0, the latest iteration of the Company’s proprietary risk assessment methodology built into its point-of-sale platform. By performing a unique analysis of data gathered over the last seven years, Sunlight refined its determination of which credit factors best predict loan performance, enabling the Company to increase solar approval rates by over 8% without increasing expected loss rates. This update demonstrates Sunlight’s commitment to credit quality alongside its efforts to continually drive increased value for contractors and homeowners.
About Sunlight Financial
Sunlight (NYSE: SUNL) is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements may generally be identified by the use of words such as “could,” “should,” “would,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,” “continue,” or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; global supply chain shortages, competition for skilled labor, and permitting delays; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Sunlight’s Form 10-K as filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and Form 10-Q as filed with the SEC on May 16, 2022, and other documents of Sunlight filed, or to be filed, with the SEC. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
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IRVING, Texas & TAIPEI, Taiwan--(BUSINESS WIRE)--#ARCForum--TXOne Networks, the global leader of operational technology (OT) zero trust cybersecurity, announced today the expansion of its Americas operations with a new U.S. office, growing team and extended channel- and customer-support activities in the region.
“Availability, integrity and confidentiality are crucial concerns in both IT (information technology) and OT cybersecurity for any business leader, but there remains a dangerous lack of awareness around the particular vulnerabilities of ICS (industrial control systems) and how to prevent attacks on them. It has been difficult for companies to find purpose-built OT security solutions that are specifically engineered to ensure the cybersecurity of OT devices while maintaining operations of worksite equipment,” said Dr. Terence Liu, chief executive officer of TXOne Networks. “This market environment is driving our rapid growth in the Americas. We have assembled an experienced team with the unique expertise to help companies counter the cyberthreats that could paralyze day-to-day operations.”
The TXOne Networks Americas team is led by Jeff DePasse, who brings more than 30 years of experience in high-tech sales, including 15 in direct- and channel-sales leadership in cybersecurity. DePasse has reinforced the TXOne Networks Americas management team with proven subject-matter experts in the space: John Elder, channel director; Austen Byers, technical director, and De Anne O’Connell, marketing director. The new Americas headquarters is in the high-tech corridor of Las Colinas, Irving, Texas, which is home to several Fortune 500 companies and centrally located in the Dallas-Fort Worth metroplex.
With digital transformation in high gear across every vertical in the United States and globally, vulnerabilities in ICS can be easily exploited and are being targeted more frequently. TXOne Networks safeguards corporate operations with OT-native solutions, protecting critical assets for their entire lifecycle. Founded in 2019 as a joint venture between Trend Micro and Moxa, TXOne Networks has evolved into an individual brand pioneering adaptive solutions for the OT environment. TXOne Networks, in fact, wrote The OT Zero Trust Handbook, providing a clear, actionable framework for practical worksite protection by inspecting and locking down assets while segmenting and reinforcing network defenses.
“Businesses across the most critical American industries—from manufacturing to healthcare to power and energy—are highly vulnerable to modern digital threats. Some rely on ICS that include legacy technologies designed before cybersecurity became a serious concern and the IIot (Industrial Internet of Things) gained traction,” DePasse said. “Establishing this regional presence is vital to our customers in the Americas. We are rapidly growing the team with new technical and sales experts, and building the channel to give our customers the peace of mind needed to both confidently maintain daily operations and boldly pursue future opportunities.”
TXOne Networks Americas is kicking off with a strong presence at industry events, starting with a speaking engagement 2:10-3 p.m. Pacific June 9 at the RSA Conference in San Francisco. This educational session will reveal how unforeseen cyberattacks can cause physical damage in critical sectors.
About TXOne Networks
TXOne Networks offers cybersecurity solutions that ensure the reliability and safety of industrial control systems and operational technology environments through the OT zero trust methodology. At TXOne Networks, we work together with both leading manufacturers and critical infrastructure operators to develop practical, operations-friendly approaches to cyber defense. TXOne Networks offers both network-based and endpoint-based products to secure the OT network and mission-critical devices in a real-time defense-in-depth manner. www.txone.com
Follow TXOne Networks: Blog, Twitter, and LinkedIn.
Contacts for TXOne Networks Americas:
De Anne O’Connell
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Agreement combines industry leadership in electrolyzer technology with proven nuclear expertise
CRANBERRY TOWNSHIP, Pa. & SAN JOSE, Calif.--(BUSINESS WIRE)--Westinghouse Electric Company and Bloom Energy Corporation (NYSE:BE) today announced that they have entered into a Letter of Intent to pursue clean hydrogen production in the commercial nuclear power market. The companies are teaming to identify and implement clean hydrogen projects across the nuclear industry.
Westinghouse and Bloom Energy will jointly develop an optimized and large-scale high temperature integrated electrolysis solution for the nuclear industry. With the ability to operate 24/7 and provide high-quality steam input, nuclear plants are well-positioned to utilize electrolyzer technology and produce substantial quantities of clean hydrogen with minimal disruption to current, ongoing operations.
"Through this collaboration, we are committed to delivering an economical solution for large-scale hydrogen production in the nuclear industry, which further supports the path to net zero carbon emissions," said Pam Cowan, Westinghouse President of Americas Operating Plant Services.
“We are proud Westinghouse has turned to Bloom and our solid oxide technology to supercharge the clean hydrogen economy,” said Rick Beuttel, vice president, hydrogen business, Bloom Energy. “Solid oxide technology is well suited for nuclear applications, efficiently harnessing steam to further improve the economics of hydrogen production. High temperature electrolysis is already garnering attention and accolades as a cost-effective and viable solution to create low-cost, clean hydrogen, which is critical to meeting aggressive decarbonization goals.”
Global demand for hydrogen and its emerging applications is projected to increase tenfold or more by 2050, surpassing the current infrastructure for producing and delivering hydrogen. As hydrogen usage expands from traditional industrial uses to the fuel of a clean future, the need to produce it in larger quantities and from low- and zero-carbon sources is clear.
The hydrogen produced in nuclear plants can be utilized to serve many industries such as renewable fuels production, oil and metals refining, ammonia synthesis, mining operations, and mobility in sectors such as heavy trucks, buses, and even air travel. The companies also are well positioned to support the U.S. Department of Energy’s developing hydrogen hubs.
About Westinghouse
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com.
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TULSA, Okla.--(BUSINESS WIRE)--The Society of Exploration Geophysicists Foundation (SEGF) Board of Directors has promoted Katie Burk to the new leadership position of Foundation Managing Director. A 15-year employee of SEG, Burk has been recognized within the industry for her stellar professionalism and performance as a Foundation business leader.
SEG recently quashed talks of possible mergers, announcing its decision to remain an independent organization and accelerate transformation of the Society. The transformation begins a new era for SEG and its Foundation, globally advancing the science, creating and enhancing opportunity for the scientists and expanding the global impact of applied geophysics.
“SEG is building for the future, creating programs for what is next for our Society,” SEG Executive Director Jim White said. "As part of her new role, Katie will lead the Foundation in seeking additional private and corporate support to fund those programs.”
Burk will increase collaboration and partnership across the organization, providing leadership and guidance in establishing and implementing strategic direction, policies, procedures, and engaging with key donors and stakeholders to further the Foundation’s mission and to support SEG programs.
Mike Loudin, chair of SEG Foundation’s Board of Directors, added: "The SEG Foundation is committed to providing financial resources to the SEG in its efforts to support students and practitioners of applied geophysics, and to facilitate the application of geophysics to improve access to water, energy and minerals, and to identify areas prone to earth-related hazards. In her new role, Katie will facilitate the efforts of donors, staff and volunteers to create and strengthen partnerships with new and existing donors, building on our current programs and create exciting new ones. We're all very proud of the work Katie has done for us over the years, and we are looking forward to working with her in this new role."
About SEG
The Society of Exploration Geophysicists is committed to connecting and inspiring the people and science of geophysics. SEG provides educational and technical resources to the global geosciences community through publications, books, events, forums, professional development, young-professionals programs and more. Founded in 1930, SEG fosters the expert and ethical practice of geophysics in exploration and development of natural resources, characterization of near surface, and mitigation of earth hazards. For more information visit www.seg.org.
Stephanie Moore
SEG, Director of Marketing & Communications
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WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (“ESS,” “ESS Inc.”), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, announced today that ESS management will present at upcoming investor conferences in June.
A live webcast of the Cowen presentation will be available on ESS’ Investor Relations website at http://investors.essinc.com/. A replay of the event will be available via the web at http://investors.essinc.com/.
About ESS Inc.
ESS Inc. (NYSE: GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information, visit www.essinc.com.
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Erik Bylin
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Company reaffirms commitment to building a clean energy future with renewable, sustainable power and a more resilient and reliable energy grid
ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, today released its 2021 Sustainability Report, titled “Accelerating Transformation.” The report tracks and highlights AVANGRID’s sustainability results towards its environmental, social, governance and financial stewardship – or ESG+F – commitments and how these actions are creating a clean energy future.
“We take great pride in our ESG+F leadership and it is a part of everything we do,” said Laney Brown, Vice President of Sustainability at AVANGRID. “This report reflects the culmination of our sustainability efforts and leadership during 2021, our continued work to accelerate the transition to a clean energy future and our push to achieve our company’s bold and visionary climate and social impact goals. We’re proud of what we accomplished in 2021 and will continue to evolve and accelerate our commitments.”
Among the 2021 achievements highlighted in the report:
In addition to highlighting the company’s 2021 achievements, the Sustainability Report outlines AVANGRID’s ESG goals, which include achieving scope 1 carbon neutrality by 2035, increasing installed renewable energy capacity by 100% by 2025 (compared to 2015), achieving full gender parity for women in senior leadership roles by 2030 and reaching 35,000 employee volunteer hours in 2025.
AVANGRID is among the cleanest U.S. energy companies and is the third largest wind and solar operator in the county. Earlier this year, it was one of the first energy companies to accept the U.S. Department of Energy’s Better Climate Challenge to reduce scope 1 and 2 greenhouse gas emissions by at least 50% in 10 years.
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 more than 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.
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Sarah Warren
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HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today the publication of its 2021 sustainability report, furthering its commitment to lead the MLP midstream industry in sustainability. The report, entitled Real Change. In Real Time., provides enhanced transparency on Crestwood’s environmental, social and governance (ESG) performance, including details on how the company met its ESG goals, including its methane emissions intensity rate, and diversity, equity and inclusion (DEI) performance, both of which are tied to executive and employee compensation. Crestwood also highlights the achievements made on its first three-year sustainability strategy, which culminated in late 2021, while detailing the next six focus areas that are incorporated in its second three-year sustainability strategy as it continues to integrate sustainability into everyday business operations. The 2021 sustainability report is available at https://esg.crestwoodlp.com.
“We are pleased to share our ESG achievements and priorities in Crestwood’s 2021 sustainability report as we continue our authentic approach to delivering energy affordably, responsibly and sustainably. I am proud of our employees’ dedication to incorporate sustainable business practices into their everyday roles as we work to further progress our sustainability initiatives and best-in-class operating culture,” said Robert G. Phillips, Founder, Chairman and Chief Executive Officer of Crestwood’s general partner. “Crestwood remains at the forefront of ESG developments in the midstream sector. We lead the Energy Infrastructure Council’s ESG working group to improve industry standardization of ESG metrics, and this year, we are advancing our commitment to climate leadership though participation in Cheniere’s Quantification, Monitoring, Reporting and Verification (QMRV) Project. This will enable us to improve the understanding of greenhouse gas emissions, resulting in meaningful improvements in carbon management practices going forward.”
Joanne Howard, Crestwood’s Senior Vice President, ESG and Corporate Communications, commented, “As we publish our fourth annual sustainability report, I am inspired to see sustainability systematically ingrained as part of the culture throughout the company. As we progress, we know we must continue to adjust Crestwood’s strategies and actions, taking into account the changing expectations of our stakeholders in an ever-evolving energy landscape. Therefore, we conducted our second materiality assessment last year to ensure Crestwood’s ESG risks and opportunities remain relevant. As we move into 2022, our next three-year sustainability strategy and first carbon management plan lays out a comprehensive and real time plan, which is integral to Crestwood’s distinction as a best-in-class operator.”
Highlights of Crestwood’s 2021 sustainability report include:
Crestwood’s 2021 sustainability report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards - Core option and is aligned with the Sustainability Accounting Standards Board (SASB) midstream reporting framework and the Task Force on Climate-related Financial Disclosures (TCFD). New ESG presentation materials are also posted to Crestwood’s website at www.crestwoodlp.com.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
Crestwood Equity Partners LP
Investor Contact
Rhianna Disch, 713-380-3006
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Senior Vice President, ESG and Corporate Communications
PRINCE WILLIAM, Va.--(BUSINESS WIRE)--Capra Biosciences (Capra) today officially announced it has raised $1.8 million in an oversubscribed pre-seed funding round to advance their continuous-flow bioreactor technology, which changes the economics of making sustainable petrochemical replacements using biology. Capra will use the funding to build their production-scale reactor and extend its capabilities to include the production of lubricants.
Located in the Prince William Science Accelerator, the company works at the intersection of biology and hardware engineering to build a new kind of continuous flow bioreactor that leverages the unique features of their platform organism. Capra Biosciences emerged from the competitive IndieBio program backed by SOSV. Pre-seed investors include Prithvi Ventures; the E14 Fund; GS Futures; Antimo’s president – Wes Osbourn; Savantus Ventures; Asymmetry Ventures; the Decarbonization Consortium; and SOSV, among others.
"Reaching this funding milestone is important because our production-scale reactor is modular,” said Dr. Andrew Magyar, Capra’s co-founder and chief technology officer. "Much like a data center’s capacity grows as it adds individual hard drives, our platform’s ability to produce chemicals at scale grows with each bioreactor we add. This enables us to avoid many of the scale-up challenges experienced in traditional bioreactors. The funding allows us to move quickly into our production scale bioreactor."
"Capra Biosciences is the kind of bioscience success story the Prince William Science Accelerator was built to grow,” said Christina Winn, executive director, Prince William County Department of Economic Development. “Congratulations on a tremendous pre-seed raise and we look forward to supporting Capra through their future expansions!"
Capra’s first product is retinol, a highly lucrative cosmetic ingredient used in anti-aging products. Capra’s novel approach to retinol production uses biology rather than fossil fuels for production, unlike other products currently on the market.
The company is also pursuing several aviation and industrial lubricants for future production phases. Like retinol, the $150B lubricant market is closely linked to petrochemicals. Capra is breaking the link to fossil fuels and providing a cleaner, more sustainable path for lubricant production. The company makes renewable products using sources of carbon that don’t compete with food sources or divert undeveloped land towards agricultural production.
"Even most climate-focused VCs haven’t thought about the massive, $150B lubricants market. But they should. 20% of the world’s energy is spent overcoming friction," said Po Bronson, managing director of IndieBio and General Partner at SOSV. “All motors and all moving parts need lubricants – from robots to spacecraft, to machines and elevators. The secret is that biology can make sophisticated compounds that petroleum chemistry cannot, enabling performance characteristics that make machines last longer.”
Capra's co-founder and CEO, Dr. Elizabeth Onderko, invented the company’s bioreactor technology as a postdoctoral associate at the U.S. Naval Research Laboratory (NRL) along with her advisor Dr. Sarah Glaven, federal employee Dr. Matthew Yates, and Dr. Magyar.
The Capra team continues to support the development of this technology to address Department of Defense needs through a cooperative research and development agreement (CRADA).
"This partnership is a prime example for how fundamental research can be developed, matured, and successfully transitioned from NRL benchtop to commercial partner. The Technology Transfer Office often facilitates these types of efforts through various mechanisms which aim to incentivize businesses and bring forth investment capital," said Dr. Stephen Deese, NRL Partnership Manager.
"We’re excited to make products that create a positive impact on the world, while simultaneously reducing carbon emissions," said Dr. Onderko. "Our production scale reactor empowers us to place samples of retinol, Capra’s first product, into customers hands for evaluation - our first step to decarbonizing the chemical industry. Next up we’re developing sustainable, high-performance lubricants and many other chemical products – allowing us to start reducing the more than three gigatons of greenhouse gas emissions from chemical manufacturing. The potential for our technology is massive, and we’re very thankful to our investors for sharing in our vision."
About Capra Biosciences
Capra Biosciences is venture-backed startup company focused on sustainable production of petrochemical replacements using their biofilm bioreactor platform. Capra Biosciences is located in Manassas, VA. https://www.caprabiosciences.com
About the U.S. Naval Research Laboratory
NRL is a scientific and engineering command dedicated to research that drives innovative advances for the U.S. Navy and Marine Corps from the seafloor to space and in the information domain. NRL is located in Washington, D.C. with major field sites in Stennis Space Center, Mississippi; Key West, Florida; Monterey, California, and employs approximately 3,000 civilian scientists, engineers and support personnel. https://www.nrl.navy.mil
About the Prince William County Department of Economic Development
The Prince William County Department of Economic Development offers services to support and promote existing business expansion and attract new businesses to PWC. For more information, the Department of Economic Development can be reached via email at This email address is being protected from spambots. You need JavaScript enabled to view it., via phone at 703-792-5500, or via fax at 703-792-5502. Learn more about the Department at pwcded.org.
Prince William County Department of Economic Development
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Fax: 703-792-5502
FREMONT, Calif.--(BUSINESS WIRE)--Solaria Corporation, a U.S.-based global provider of advanced solar energy products, announced today that it has settled its patent infringement claims against Canadian Solar, Inc. (CSIQ).
Under the terms of the agreement, Solaria has agreed to terminate its litigations against Canadian Solar in exchange for Canadian Solar ceasing its importation of shingled solar modules into the U.S. for seven years.
The settlement resolves patent infringement disputes that Solaria brought against Canadian Solar in Federal District Court for the Northern District of California and in the United States International Trade Commission (ITC) related to Solaria’s proprietary shingled solar module technology.
Solaria CEO Tony Alvarez explained that “Solaria initially filed suit against Canadian Solar because they chose to ignore and violate Solaria’s core intellectual property (IP). When rendering his Initial Determination in the ITC investigation, the Chief Administrative Law Judge recognized that Canadian Solar infringed Solaria’s patents.” In that Initial Determination, which was issued in October 2021, Chief Administrative Law Judge Cheney found that Canadian Solar, a Chinese solar panel manufacturer, violated section 337 of the Tariff Act of 1930, as amended, in their importation of shingled solar modules.
Alvarez added: “Solaria remains open to cooperating with companies that recognize the value of Solaria’s IP; we’ve licensed Solaria’s technology to other firms in the industry. However, Solaria will actively defend our IP against any infringers, and protect our technology for ourselves and our valued partners.”
About Solaria
Solaria Corporation is a U.S.-based solar PV technology and systems company, with a 20-year history in solar power innovation and product development. Solaria is paving the way for distributed, clean power generation by delivering state-of-the-art engineering and automation to provide superior field performance and unrivaled aesthetics. Solaria is headquartered in California, USA. For more information, please visit www.solaria.com.
Jordan Trent Jones, Chief Counsel
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25-Year Agreement for LNG for Supply from Energy Transfer’s Lake Charles LNG Export Facility Represents First Long-Term LNG Contract Signed by China Gas
DALLAS--(BUSINESS WIRE)--#energytransfer--Energy Transfer LP (NYSE: ET) and China Gas Holdings Limited (HKEX:00384) today announced that China Gas Hongda Energy Trading Co., LTD, a subsidiary of China Gas Holdings Limited (China Gas) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer LNG), a subsidiary of Dallas-based Energy Transfer LP, related to its Lake Charles LNG project.
Under the SPA, Energy Transfer LNG will supply 0.7 million tonnes of LNG per annum to China Gas on a free-on-board (FOB) basis. The purchase price is indexed to the Henry Hub benchmark plus a fixed liquefaction charge. The SPA is for a term of 25 years, and first deliveries are expected to commence as early as 2026. The SPAs will become fully effective upon the satisfaction of the conditions precedent, including Energy Transfer LNG taking final investment decision (FID).
“This LNG SPA signed with Energy Transfer LNG, which is the first long-term contract of China Gas, strengthens our existing portfolio for the import of LNG, and will further enable China Gas to reliably and securely meet our natural gas customers’ needs. It is also an important step along the path to realizing China’s carbon peaking and carbon neutrality goals,” said Yalong Qi, General Manager of China Gas Hongda Energy Trading Co., LTD.
“China Gas is a premier natural gas distribution company in China, and we are pleased to enter into this 25-year LNG offtake agreement with them,” said Tom Mason, President of Energy Transfer LNG. “This SPA brings our total amount of LNG contracted from our Lake Charles LNG export facility to nearly 6.0 mtpa and is an important step towards our goal of reaching FID later this year.”
Energy Transfer is one of the largest and most diversified midstream energy companies in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer’s Lake Charles LNG export facility will be constructed on the existing brownfield regasification facility and will capitalize on four existing LNG storage tanks, two deep water berths and other LNG infrastructure. Lake Charles LNG has received all federal, state and local permits necessary for the construction for the project, including authorizations from the Federal Energy Regulatory Commission, as well as export authorizations from the Department of Energy. Lake Charles LNG will also benefit from its direct connection to Energy Transfer’s existing Trunkline pipeline system that in turn provides connections to multiple intrastate and interstate pipelines. These pipelines allow access to multiple natural gas producing basins, including the Haynesville, the Permian and the Marcellus Shale.
About China Gas
China Gas Holdings Limited (HKEX: 00384) is a leading gas service provider in China, principally engaged in the investment, construction and management of city gas pipeline infrastructure, distribution of natural gas and LPG to residential, industrial and commercial users, and gas refilling stations for vehicles and vessels. China Gas owns a total of 652 city and township gas projects with concession rights, 32 natural gas long-distance pipeline transmission projects, 554 CNG/LNG refilling stations for vehicles, as well as the license to import and export LNG and other fuel products in China, in addition to 113 LPG distribution projects.
About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC).
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our website at energytransfer.com.
Media Relations
Vicki Granado or Lauren Atchley
214-840-5820
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Investor Relations
Bill Baerg, Brent Ratliff or Lyndsay Hannah
214-981-0795
HALIFAX, Nova Scotia & BRISBANE, Australia--(BUSINESS WIRE)--Today Emera Technologies Limited, a subsidiary of Emera Inc. (TSX:EMA), and NOVONIX Limited (NASDAQ: NVX, ASX: NVX, OTCQX: NVNXF) (“NOVONIX”), a leading battery materials and technology company in Halifax, announced the delivery of their first-of-its-kind, custom-designed microgrid battery prototype.
Emera Technologies and NOVONIX first announced their partnership to develop the innovative battery storage technology in Halifax early in 2021. The prototype was developed by NOVONIX to support Emera Technologies’ residential microgrid system, BlockEnergy™, which is operating in a residential pilot project south of Tampa, Florida.
“Innovation and emerging technologies will be key to shaping a viable path to a cleaner energy future, particularly as we work toward our vision to achieve net-zero CO2 emissions by 2050,” said Scott Balfour, President and Chief Executive Officer of Emera Inc. “We’re proud to be collaborating with NOVONIX on this leading-edge, purpose-built and utility-grade battery solution, and even prouder that this technology was conceived and built right here in Atlantic Canada.”
The BlockEnergy microgrid system connects homes in a shared energy network, enabling rooftop solar power to be seamlessly stored and dispersed to the entire community through smart distributed controls.
“We’re continually innovating and investing in technologies that deliver high-performance battery materials to support longer life batteries and advanced storage systems,” said Dr. Chris Burns, Co-Founder and CEO of NOVONIX. “Our work with Emera for their BlockEnergy residential microgrid opens the gateway to exciting new possibilities for a cleaner, more reliable power grid with renewables being produced, stored and consumed within local communities. It will change the landscape of how we produce and consume energy going forward.”
Working with research partner Sandia National Laboratory in the U.S., testing of the microgrid battery prototype is expected to be complete later this year.
About Emera Technologies
Emera Technologies is a dedicated and nimble organization focused on developing new ways to deliver renewable energy to customers. Headquartered in Tampa, Florida, the team engages experts, research organizations, and technology leaders to capitalize on the disruptive challenges and innovation opportunities in today’s energy industry. For more information on Emera Technologies, please visit https://blockenergy.com/. Emera Technologies is a wholly owned subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with more than 2.5 million customers.
About BlockEnergy™
Developed by Emera Technologies LLC, a subsidiary of Emera Inc., the BlockEnergy Smart Platform is the world’s first utility-focused, front-of-the-meter, distributed renewable energy platform for new build communities of all sizes. Owned, operated and maintained by the local utility, BlockEnergy is the first truly plug-and-play energy system. Comprised of a simple kit of parts, BlockEnergy is installed by local utilities as a capital asset to deliver the most advanced, secure, reliable power available. Scalable, storm-resilient and able to interoperate seamlessly with the local grid when needed, BlockEnergy puts rooftop solar, energy storage and smart distributed controls throughout new communities of all sizes. These homes are joined together in a network, creating self-sustaining BlockLoops, able to independently power homes without disruption.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $34 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
About NOVONIX
NOVONIX is a leading battery technology company with operations in both Canada and the United States. NOVONIX provides advanced, high-performance materials, equipment, and services for the global lithium-ion battery industry with sales in 14 countries. We develop materials and technologies to support longer-life and lower-cost batteries that are powering us towards a cleaner energy future.
Our NOVONIX Battery Technology Solutions division, based in Halifax, Nova Scotia, Canada, focuses on innovative battery research and development, along with providing advanced battery testing equipment and services on a global scale.
Our NOVONIX Anode Materials division, located in Chattanooga, Tennessee, USA, manufactures our synthetic graphite anode materials used to make lithium-ion batteries which power electric vehicles, personal electronics, medical devices, and energy storage units. To address the growing industry demand, we are working to increase the production capacity to 10,000 metric tons of synthetic graphite per annum (tpa) by 2023, with further targets of 40,000 tpa by 2025 and 150,000 tpa by 2030.
Media:
Dina Seely
902-222-2683
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Chantal Theoret
416-357-1747
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CAESAREA, Israel--(BUSINESS WIRE)--infiniDome, a leading provider of GPS protection and navigation resiliency solutions and C-Astral, an industry leader in fixed-wing UAVs will be showcasing their technologies at the Eurosatory conference, Europe’s largest international security and defense exhibition. C-Astral has integrated infiniDome’s GPSdome which protects their UAVs from jamming attacks adding resiliency in GPS challenged environments.
InfiniDome develops GPS protection and resilient navigation solutions tailored for defending UAVs and vehicles from jamming attacks. infiniDome’s GPSdome is a tiny (74x47x25mm, 150g) retrofit device compatible with any GNSS based system, tailored for class 1-3 drones. Once the system is easily installed, it uses a nulling algorithm to attenuate the jamming signal in the direction of attack, allowing navigation and operation to continue in GPS challenged environments. “We view C-Astral is one of the leading fixed-wing UAVs developers in the world today with incredible design and record flight endurance. Now with our GPSdome, the C-Astral platforms get a competitive advantage in resilience making their systems even more robust for their customers and missions.” Said Omer Sharar, CEO of infiniDome.
C-ASTRAL Aerospace is a global market leader with an established reputation in the specialized, fixed-wing small Uncrewed Aircraft Systems (sUAS) manufacturing and services field. Besides systems integration, the company has developed avionics and proprietary, secure and adaptable mesh communication systems as well as the capability to integrate its systems with unmanned air traffic management and C4ISR solutions. C-ASTRAL Aerospace customer base is diversified between the commercial UAS operators, larger institutional networks, scientific users and government entities in more than 70 countries and the company has extensive experience in NATO and NATO compatible integrations.
C-Astral integrates GPSdome into their SQA eVTOL. The GPSdome technology combines patterns from two omnidirectional antennas and integrates seamlessly into C-Astral’s UAV GNSS system, filtering out any RF interference. “The infiniDome system really helps us and especially our customers to mitigate jamming problems that we are seeing in complex contemporary electromagnetic environments” Said Marko Peljhan, co-founder of C-Astral.
infiniDome and C-Astral will showcase their technology at Eurosatory on June 13th in Paris, France. Eurosatory is Europe’s largest international security and defense exhibition featuring land, air, maritime defense, and a strong focus on civil and homeland security.
infiniDome will be in the ‘Eurosatory Lab’ located in hall 5A. C-Astral will be at booth J-138 in Hall No. 6.
Noa Zilkha
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