The leader in transportation management innovation introduces a way for companies to track network emissions and execute targeted low carbon solutions to reduce their transportation carbon footprint
GREEN BAY, Wis.--(BUSINESS WIRE)--Breakthrough, a leading transportation technology solutions provider, today launched CleanMile, the first end-to-end scope 3 transportation emissions management solution for shippers across all industries.
Accessible through FELIX, Breakthrough’s premier transportation intelligence platform, CleanMile is the first solution to track, analyze, and report carbon emissions, create an emissions reduction roadmap, and execute actionable scope 1 and 3 transportation emissions reduction initiatives.
Many companies have set corporate sustainability goals to decrease emissions, but, until now, it has been difficult to reduce transportation-related emissions – a significant portion of overall emissions. Constituting roughly 90% of a company’s total emissions, scope 3 emissions are both the largest category of emissions and the most difficult to measure and improve. They are the result of activities from assets not owned or controlled by the organization, including transportation, which is typically a top contributor to a company’s total emissions.
“Organizations wanting to reduce scope 3 emissions historically had no way to inform, track or manage these initiatives,” said Heather Mueller, Chief Marketing and Product Officer of Breakthrough. “CleanMile enables shippers to gain control of transportation emissions by analyzing shipment-level data to inform reduction initiatives and working with our team to build and execute a reduction roadmap.”
CleanMile provides actionable and data-driven recommendations for emissions reduction based on a shipper’s transportation network and specific sustainability goals. The service provides a detailed picture of a transportation network’s lifecycle emissions, serving as a guide for future expansion. Informed by more than $22B in annual freight spend in the FELIX platform, CleanMile is the most comprehensive transportation emissions management solution on the market today, helping shippers drive real progress toward corporate sustainability goals.
An extension of Breakthrough’s core offerings, CleanMile brings transportation fuel management and network strategy together. This builds on Breakthrough’s unparalleled legacy of helping shippers increase transportation network efficiency and reduce spend via its suite of solutions, including Fuel Recovery, Network Intelligence, and Capac-ID.
“For nearly two decades, we’ve partnered with our clients to build and execute effective strategies in transportation energy and network management,” said Mueller. “As we look toward the future, we are proud to provide the solutions our clients need to truly take control of their transportation emissions and make their corporate sustainability goals a reality.”
On an annual basis, Breakthrough supports and processes more than 21 million shipments and more than 12 billion transportation miles across several industries including retail, automotive, food and beverage, consumer packaged goods, durable goods and pharmaceuticals. In 2021, Breakthrough Fuel Recovery clients reduced truckload and intermodal fuel spend by 20% and 58%, respectively.
To learn more about CleanMile, please visit breakthroughfuel.com/cleanmile.
About Breakthrough
Breakthrough is a leading innovator in transportation management, dedicated to creating transparent strategies for the world’s leading shippers. By leveraging a robust dataset of over $22 billion in annual freight spend, Breakthrough uncovers freight optimizations and removes distortion from traditional transportation practices. Together with its shipper clients, Breakthrough is transforming the transportation industry by building a more effective freight ecosystem. The company was named to Fast Company’s Most Innovative Companies in Logistics in 2021, is a recipient of the prestigious “Winning Through Innovation” award from Unilever, and is a five-time recipient of Procter & Gamble’s “External Business Partner Excellence Award.”
Kiley Ribordy
Walker Sands for Breakthrough
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SAN DIEGO--(BUSINESS WIRE)--All roads will lead to America’s Finest City, San Diego, for the Fully Charged Live North America Clean Energy and Electric Vehicle Show, set for September 10th and 11th.
Fully Charged Live is a global event that promotes clean energy and electric vehicles hosted by actor, author, presenter and YouTube sensation, Robert Llewellyn. The event debuted in 2020 and attracted thousands of visitors to the Austin, Texas, venue. Following a two year break, the event touted as The World’s No. 1 Clean Energy and Electric Vehicle show is billed to be bigger and better than before. San Diego is the third stop on the roster of the world event that will kick off in the United Kingdom in April and then move on to Amsterdam.
At least 10,000 visitors are expected to flock Fully Charged Live in San Diego, which will be hosted at the San Diego Convention Center. The event will feature over 100 exhibitors showcasing the latest clean energy and almost every electric vehicle available. There will be electric test drives, mini mobility test track with hundreds of rides and drives for the entire family. The Clean Energy and Electric Vehicle festival will also feature Giga and Mega theaters with 40 live sessions led by inspiring experts, and home energy advice and more.
“We are very excited to bring our clean energy and sustainability event to San Diego,” said Robert Llewellyn. “With the high level of electric vehicle purchases here and skyrocketing energy costs, we know all of Southern California will enjoy the event.”
Director of North America, Kevin Leap, is excited about the event coming to the city. He said: “After two years of hiatus, Fully Charged Live is exactly what Southern California’s clean energy industry needs to keep the wheels turning. The city is looking forward to hosting this event and we welcome all the benefits that come along with it.”
For further information, visit: https://fullycharged.live/us.
Media contact: Kevin Leap
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Secretaries Granholm & Walsh Joined by Members of Congress Meet LACI Start-up Founders & Green Workforce Graduates, Learn more about LACI’s Transportation Electrification Partnership
LOS ANGELES--(BUSINESS WIRE)--Energy Secretary Jennifer Granholm and Labor Secretary Marty Walsh put a spotlight on Los Angeles Cleantech Incubator’s leadership in creating an inclusive green economy through startup innovation, workforce training, and transportation electrification.
Led by LACI President and CEO Matt Petersen and joined by Congresswomen Linda Sanchez, Judy Chu and Norma Torres, as well as LA County Supervisor Hilda Solis, the two Cabinet secretaries talked with LACI startup founders and green jobs training graduates, while also learning about LACI’s groundbreaking Transportation Electrification Partnership. In 2021, LACI won two related US Department of Energy grants, including $1 million from DOE OTT EPIC for startup innovation through startup pilots, as well as $3.6 million from DOE VTO to increase the use of EVs for commercial delivery building on LACI’s Zero Emissions Delivery Zone pilot in partnership with the City of Santa Monica. LACI has also presented recommendations from the 2021 Green Jobs report (i.e., renewing green job tracking and definitions at the federal level) to Secretary Walsh’s senior staff.
The Secretaries discussed with LACI staff and entrepreneurs how the Biden Administration is fostering innovation through its Bipartisan Infrastructure law and a series of executive orders to grow the economy and restore America’s economic leadership in addressing the climate crisis.
“LACI is proud to host Secretaries Granholm and Walsh to showcase our entrepreneurs and programs, as well as highlight the work we have done with the Departments of Energy and Labor,” Matt Petersen said. “LACI is truly a national model for creating public private partnerships that move us towards a more inclusive green economy by accelerating equitable climate action. It says a lot about the importance of our work in Los Angeles that two Cabinet Secretaries wanted to see firsthand the ways in which we are unlocking innovation that will transform and grow our economy into a model of clean energy and equity for all.”
"What is really unique about LACI is that they are on both sides of the equation: Incubating these businesses and training the workforce for these businesses, with a lens of equity,” said Energy Secretary Granholm. “We want people to see the great opportunity in clean energy as a future. Those who are working in oil and gas, they have powered our nation for 100 years and we are grateful. But we want them to see themselves as powering our nation for the next 100 years as well, in clean energy. We know that the clean energy economy provides all kinds of jobs for people in all pockets of America.”
“Today we saw what is really required for a true clean energy transition. It requires innovations, investment, community engagement and especially workforce training. We saw today at LACI that it is possible to address the climate crisis in a way that expands opportunities,” said Labor Secretary Walsh. “The jobs the LACI’s startup companies are creating by developing and deploying technologies to make our communities healthier and stronger are great models that need to be deployed across the country. The possibility of creating good jobs for workers in communities that have been shut out in the past is the future that the Biden Administration is investing in and that LACI is demonstrating is absolutely achievable.”
“Without the work of LACI, without pilot funding, without being able to present our concepts to funders, ChargerHelp! would not be in 11 states expanding to 50 states. Charger help would not have 35 employees. ChargerHelp! would not be a black owned company that has raised 4.25 million in venture capital,” said the startup company’s CEO, Kamaele C. Terry. “Let’s offer hope: the opportunity to create a new workforce, a workforce that’s okay with getting dirty, and a workforce that’s okay with plugging in a laptop computer.”
“On behalf of LACI’s partners in the public and private sectors, I want to thank Secretary Granholm, Secretary Walsh, and the Biden Administration for their commitment to act on climate, the support of cleantech entrepreneurs and growing the green workforce, and embracing the critical role of zero emission transportation,” Petersen concluded. “We look forward to doing more to help advance climate equity and the Administration’s Justice40 commitment, such as through the EVs for All bill that LACI is sponsoring in Congress.”
The tour took the officials through La Kretz Innovation Campus—owned by the Los Angeles Department of Water and Power—in the Arts District in downtown Los Angeles, which is LACI’s home. The tour included a stop at LACI’s Advanced Prototyping Center where graduates of LACI’s innovative job training program shared their professional accomplishments and successes in green economy careers. On the tour, the Secretaries and members of Congress met the founders of Automotus, ChargerHelp!, ElectricFish, Electrum (formerly PickmySolar), Hive and URB-E.
About The Los Angeles Cleantech Incubator (LACI)
LACI is creating an inclusive green economy by unlocking innovation by working with startups to accelerate the commercialization of clean technologies; transforming markets through partnerships with policymakers, innovators, and market leaders in transportation, energy and sustainable cities; and enhancing communities through workforce development, pilots, and other programs. In the last ten years, LACI has helped 315 portfolio companies raise $695 million in funding and create over 2,480 jobs in the LA region, with a projected long-term economic impact on the LA region of more than $555 million dollars. Founded as an economic development initiative by the City of Los Angeles and its Department of Water & Power (LADWP), LACI is a non-profit recognized as one of the most innovative business incubators in the world by UBI. Learn more at laci.org.
Regan Keller
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Company collaborates with Asylum Hill Neighborhood Association to provide educational resources and raise awareness of pollinators’ role in urban ecosystem
HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford is partnering with Earthwatch, an international environmental organization, on a citizen-science project to document pollinators with the goal of understanding if key species are declining and how climate change may be affecting pollinator populations. One area of focus for the Global Pollinator Watch program is understanding the ecological health of the City of Hartford’s Asylum Hill neighborhood.
The Hartford is collaborating with the Asylum Hill Neighborhood Association (AHNA), which has planted pollinator gardens in the community. Asylum Hill residents will serve alongside The Hartford’s employees as they volunteer to document pollinators by uploading the images to the iNaturalist app as data points to be analyzed by Earthwatch researchers.
“The Hartford recognizes the importance of pollinators in preserving a healthy ecosystem, sustaining plant life and contributing to food production, and we are proud to do our part to increase awareness and share information resources,” said The Hartford’s Head of Sustainability, Karen Jarmoc. “The Hartford continues to be a leader in addressing the drivers of climate change, including those that affect the pollinator population and their host plants.”
Pollination is vital to the global biodiversity of plant life, ecosystem sustainability and food production. The majority of the world’s flowering plants depend on pollinators, such as bees, butterflies, moths, bats and birds. However, populations of pollinators are shrinking because of pesticides, loss of habitat, climate variability, diseases, parasites, pollution and other factors1.
“The Asylum Hill Neighborhood Association has a very active group of environmentalists who have planted several Pollinator Gardens in Asylum Hill,” said AHNA Executive Director David MacDonald. “AHNA is very grateful for the support of The Hartford with the Earthwatch program. It will help us engage more of The Hartford’s employees in projects to strengthen Asylum Hill's environmental sustainability and document the impact of our pollinator gardens.”
The pollinator program builds on a long-standing partnership between The Hartford and residents of Asylum Hill and the City of Hartford. In 2020, The Hartford commemorated its 100th year of being headquartered in Asylum Hill with a $10 million, 5-year commitment to address top priorities of residents and non-profits based on findings from The Hartford’s Asylum Hill Neighborhood Survey. Respondents said the three most critical needs were housing stability, job readiness and greater public safety. Last year, The Hartford announced a $1 million grant to a housing initiative led by Northside Institutions Neighborhood Alliance (NINA), to make homeownership more accessible in Hartford’s Asylum Hill Neighborhood.
“Earthwatch is so pleased to be partnering with The Hartford on our Global Pollinator Watch program,” said Earthwatch’s Director of Research, Dr. Stan Rullman. “The Hartford’s employees will play a critical role in collecting pollinator data to help us better understand the health of pollinator communities, while identifying areas where pollinators could benefit from supportive interventions.”
About Earthwatch
Earthwatch is an international nonprofit organization that connects people with scientists worldwide to conduct environmental research and empowers them with the knowledge they need to conserve the planet. Since its founding in 1971, Earthwatch has been taking action to address global change through a time-tested model of citizen science and community engagement. By pairing individuals from all sectors of society with researchers around the world, Earthwatch teams have helped to safeguard critical habitats, conserve biodiversity, and promote the sustainable use of natural resources. For more information, visit Earthwatch.org.
About Asylum Hill Neighborhood Association
Formed in 1997, the Asylum Hill Neighborhood Association is the Neighborhood Revitalization Zone for the historic Asylum Hill neighborhood of Hartford. AHNA is resident-led with strong collaboration from our stakeholders in the community. The mission of AHNA is to empower and connect residents and stakeholders to improve the quality of life in Asylum Hill. AHNA’s recently adopted ten-year Strategic Plan sets out a bold vision of what Asylum Hill can become in the future.
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.
HIG-C
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2021 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
From time to time, The Hartford may use its website and/or social media outlets, such as Twitter and Facebook, to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.
1 U.S. Department of Agriculture – Pollinators at a Crossroads, July 2021
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DUBLIN--(BUSINESS WIRE)--The "Global Sustainable Aviation Fuel Market 2022-2032" report has been added to ResearchAndMarkets.com's offering.
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Market Segmentation
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By Platform
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Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/c3yf2i
ResearchAndMarkets.com
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Agreements are part of company’s sustainability and energy conservation initiative
MATTOON, Ill.--(BUSINESS WIRE)--Consolidated Communications (NASDAQ: CNSL), a top 10 fiber provider, today announced the signing of its first two community solar agreements. The use of climate-friendly energy is an important part of the Company’s growing sustainability efforts and helps ensure its continued stewardship of the environment.
When businesses, organizations or individuals subscribe to solar farms, the clean energy produced is fed directly to the utility grid, generating credits on subscribers’ electric bills for the value of the energy generated by their share of the farm. Community solar also benefits local economies by creating jobs, increasing tax revenues and generating income to support landowners.
Following conversations with multiple community solar developers across the company’s service area, Consolidated signed long-term agreements in Maine and Minnesota. The commitments, arranged with assistance from Insight Energy, increase the availability of clean power and help address climate change efforts.
In Maine, Consolidated is subscribed to 5.3 MW of solar capacity located in Versant Power. Its subscription is expected to generate approximately 6,470,335 kWh annually, enough to power 603 average U.S. households for a year,1 and will be supported by 409 company properties in the state.
In Minnesota, Consolidated is participating in the Solar*Rewards Community Program, the nation’s largest community solar program, administered by Xcel Energy. The company is subscribed to eight local solar gardens for nearly 2.6 MW of solar capacity, which is expected to generate approximately 3,092,466 kWh annually. This is enough to power 288 average U.S. households for a year.2
The energy generated from the two subscriptions is the equivalent of greenhouse gas emissions from nearly 763,000 gallons of gasoline consumed.3
“These commitments represent an important step in our journey to continue building a robust, sustainable business while reducing our environmental footprint,” said Bob Udell, Consolidated’s president and chief executive officer.
This year, the company is undertaking a more formalized study of its emissions footprint, beginning with the establishment of a Scope 2 emissions baseline. This baseline will help Consolidated measure and work toward reducing its overall Scope 2 emissions through future initiatives and programs.
The company has also embarked on a project to upgrade lighting to LED across more than 400 locations, as well as a range of other energy conservation measures to improve efficiency and drive further operational emission reductions. It is also establishing critical environmental goals around water consumption and waste, reuse and recycling programs -- key areas within its everyday operations.
“At Consolidated, we’re working hard to sustainably deliver the critical broadband infrastructure our customers and communities rely on,” said Eric Dunmire, senior director of facilities at Consolidated Communications. “These agreements allow Consolidated to contribute to cleaner energy for our communities and protect our environment in a cost-competitive way.”
More information on the company’s environmental commitment and goals, notable accomplishments and progress on important initiatives is available at consolidated.com/esg.
About Consolidated Communications
Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) is dedicated to moving people, businesses and communities forward by delivering the latest reliable communications solutions. Consumers, businesses and wireless and wireline carriers depend on Consolidated for a wide range of high-speed internet, data, phone, security, cloud and wholesale carrier solutions. With a network spanning more than 50,000 fiber route miles, Consolidated is a top 10 U.S. fiber provider, turning technology into solutions that are backed by exceptional customer support. Learn more at consolidated.com. Connect with us on social media.
1 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3
2 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3
3 Calculation derived from the Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator - https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
Jennifer Spaude, Consolidated Communications
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DALLAS & FORT WORTH, Texas--(BUSINESS WIRE)--Satori Capital, a multi-strategy investment firm, announced today the launch of Satori Environmental, a long/short equity strategy that primarily invests in securities impacted by the global energy sector’s shift from fossil-based systems to renewable sources.
Satori Environmental actively manages a diversified portfolio of long and short positions intended to capitalize on the complex and dynamic forces driving the global energy transition.
“The transformation taking place in the energy sector is creating a wealth of opportunities, both long and short, for generating returns,” said Satori managing partner James Haddaway. “We believe capital markets are truly awakening to the tremendous long-term fundamentals for sustainable energy, and we feel very fortunate to be partnering with an expert who has the knowledge and experience to capitalize on breakout winners and losers in this sector.”
Satori Environmental is led by chief investment officer Paul Strigler, an 18-year veteran of the industry with highly specialized knowledge and relationships. Strigler has been exclusively focused on renewables and various sub-sectors since their public markets debut, and he has nurtured deep sector expertise and relationships with influential leaders in virtually every part of the industry. In June 2009, he helped launch what would become the longest-tenured renewables-dedicated hedge fund in the world. Over his 12-year tenure, that fund delivered strong, industry-leading absolute returns and significantly outperformed sector benchmarks.
“As far as we can ascertain, Paul Strigler’s longevity in this sector is unmatched,” said Haddaway. “As he likes to put it, he’s been doing this since it was just him and a couple of guys in Birkenstocks walking conference floors. Paul’s focus, experience, and expertise are key differentiators in this complex sector, a space where many investors who have dabbled in it have failed to generate strong returns. Paul has tracked, studied, and invested in this sector since before most investors knew it existed.”
Satori Environmental’s actively managed, long/short strategy is designed to strategically capitalize on the most important megatrends in the energy transition landscape. Its portfolio of long, medium, and short-term investments is diversified across a universe of more than 280 publicly traded companies comprising approximately $2.4 trillion of market capitalization.
Strigler partnered with Satori to launch Satori Environmental after years of mutual acquaintance. Through the partnership, Satori – a well-established firm with more than $1.25 billion in assets under management and a substantial team of professionals – efficiently manages all non-investment-related activities so that Strigler can focus exclusively on the investment portfolio.
“I am thrilled to join the Satori team and turn a valued long-term relationship into a true partnership,” Strigler said. “Satori’s uncompromising values, operational excellence, and commitment to the strategy align perfectly with the strong foundation I have built over the past 18 years. In a sector often inhabited by transient players and short-term tourists, I look forward to spending the remainder of my career capitalizing on the energy transition in a partnership built to endure.”
About Satori Capital
Satori Capital is a Texas-based multi-strategy investment firm founded upon the principles of conscious capitalism. Satori’s private equity business partners with leadership teams of companies with $5 million to $50 million of EBITDA that operate with a long-term perspective, commit to their mission or purpose, and create value for all stakeholders. Satori’s alternatives investment platform, Satori Alpha, creates and manages customized portfolios designed to meet the unique objectives of sophisticated private investors, family offices, and institutions. Through its Satori XL Partnership Program, Satori partners with managers that it believes are highly skilled at generating sustainable alpha and would benefit from Satori’s experience, relationships, and resources, all in support of building thriving and enduring businesses. For additional information, please visit www.satoricapital.com.
Ellen Henderson
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SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced that it will release its first quarter 2022 earnings results after the market close on Thursday, May 12, 2022. Management will discuss the results on a conference call at 5:00 pm ET on Thursday, May 12, 2022. The webcast will be publicly available in the Upcoming Events section of the company website (www.jobyaviation.com). To listen by phone, please dial 1-877-407-3982 or 1-201-493-6780. A replay of the call will be available until midnight, Thursday, May 26, 2022, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13728914.
About Joby Aviation
Joby Aviation, Inc. (NYSE: JOBY) is a California-headquartered transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles (241 kilometers) on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph (321 km/h). It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington, D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of Joby’s aircraft and its regulatory outlook, progress and timing. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially including: Joby’s ability to launch its aerial ridesharing service and the growth of the urban air mobility market generally; Joby’s ability to produce aircraft that meet its performance expectations in the volumes and on the timelines that it projects, Joby’s ability to launch a commercial passenger service beginning in 2024, as currently projected; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to its aircraft; its reliance on a third-party suppliers and service partners; uncertainties related to Joby’s estimates of the size of the market for its service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, and in other reports it files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--April 22, 2022 -- ITT Inc. (NYSE: ITT) today announced the construction of a photovoltaic lake at its largest factory in Barge, Italy, as the company ramps up its sustainability investments to reduce its carbon footprint. Consisting of approximately 3,000 solar panels, the “lake” will be about the size of four Olympic swimming pools.
The solar investment is expected to produce 1,065,200 kWh per year, covering 30% of the energy requirements for ITT’s Motion Technology Innovation Center, where the company primarily conducts research and development activities to support brake pad technologies. The lake is expected to reduce CO2 emissions by 372.8 tonnes per year, equivalent to the CO2 emissions generated by about 42,000 gallons of gas. The project is scheduled to be completed by the end of 2022.
“I’m proud to announce this new sustainability investment on Earth Day. Our $2.5 million investment is part of ITT’s long-term strategy to become a more sustainable company and reduce our carbon footprint by allocating capital to green projects. The solar lake is one example of our continuous effort to reduce energy consumption and contribute to protecting our environment. Above all, it’s the right thing to do,” said Luca Savi, Chief Executive Officer and President of ITT.
In 2021 and 2022, ITT allocated approximately 10% of its annual capital expenditures toward initiatives that drive energy efficiency, reduce water consumption, and lessen carbon emissions in its operations. These and other initiatives have helped the company reduce its greenhouse gas emissions and the amount of waste sent to landfills.
For additional information on ITT’s environmental, social, and governance commitments, please see the ITT SustainabilITTy 2021 Supplement.
About ITT
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit www.itt.com.
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HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea”) (NYSE: LFG) announced today that it plans to issue its earnings release with respect to first quarter 2022 financial results on Tuesday, May 10, 2022 before the market opens. Archaea will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Tuesday, May 10, 2022 to discuss first quarter results.
A listen-only webcast of the call and accompanying slide presentation will be available on Archaea’s website at www.archaeaenergy.com. After completion of the webcast, a replay will be available for 12 months on Archaea’s website.
ABOUT ARCHAEA
Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry-leading platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, faster project timelines, and lower development costs. Archaea partners with landfill and farm owners to help them transform potential sources of emissions into RNG, transforming their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels.
Additional information is available at www.archaeaenergy.com.
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DUBLIN--(BUSINESS WIRE)--The "Today's U.S. Electric Power Industry, ISO Markets, and Power Transactions" training has been added to ResearchAndMarkets.com's offering.
If you have difficulty understanding the U.S. electric power industry and how power transactions are done, you are not alone.
This in-depth training program provides a comprehensive and clear explanation of the structure, function, and current status of today's U. S. electric power industry; the many industry topics listed below; and how PPAs and other power transactions are done.
Each part of this complex industry is explained piece-by-piece, and then the pieces are integrated so that you will finally understand "how it all fits together."
What You Will Learn
What You Will Also Learn
Prerequisites and Advance Preparation
This fundamental-level group live seminar has no prerequisites. No advance preparation is required before the seminar.
Program Level & Delivery Method
Basic level. This fundamental course begins with basic material and then proceeds to the intermediate level. Delivery method is "Group-Live."
Key Topics Covered:
DAY 1
DAY 2
For more information about this training visit https://www.researchandmarkets.com/r/v831su
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DALLAS--(BUSINESS WIRE)--Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on May 16, 2022 to Series C, Series D and Series E unitholders of record as of the close of business on May 2, 2022.
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). For more information, visit the Energy Transfer LP website at www.energytransfer.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 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.
This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
The information contained in this press release is available on our website at energytransfer.com.
Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795
Media Relations:
Vicki Granado
214-840-5820
Joins New Jersey Audubon’s Corporate Stewardship Council
Renews Partnership Agreement with The Nature Conservancy in New Jersey
Announces $35,000 Donation to Coastal Climate Initiative to Support Local Climate Projects
WALL, N.J.--(BUSINESS WIRE)--New Jersey Resources (NYSE: NJR), parent company of New Jersey Natural Gas (NJNG), today marked Earth Day 2022 by announcing its membership in the Corporate Stewardship Council of the New Jersey Audubon. One of the state’s leading environmental advocacy organizations dedicated to conservation, biodiversity and the protection of wildlife and habitats, New Jersey Audubon created the Corporate Stewardship Council to provide member companies the opportunity to participate in habitat conservation.
The goals directly align with NJR’s efforts to promote environmental and natural resource stewardship and bolster its long-standing record of sustainability and climate leadership.
“Today, we reinforce our commitment and efforts to preserve and enhance the environmental future of New Jersey,” said Steve Westhoven, president and CEO of New Jersey Resources. “Our company will continue to be a sustainability leader by working toward our goal of net-zero operational emissions in New Jersey, leveraging our world-class infrastructure to decarbonize the energy we deliver to customers and continuing to invest in, and support, local climate solutions in the communities we serve.”
NJR also announced today it will provide $35,000 in new funding through the company’s Coastal Climate Initiative™ (CCI) to support local natural resource preservation and restoration projects that have a positive climate impact.
Launched on Earth Day 2021, the CCI was created to support local efforts to fight climate change beginning with the restoration of saltwater tidal wetlands along the coast of our service territory.
Over the past year, the program has already successfully raised nearly $30,000 from NJNG customer donations and a dollar-for-dollar company match, supporting the work of the Nature Conservancy in New Jersey and its partners in their efforts to restore saltwater tidal wetlands in the Barnegat Bay watershed, an iconic part of NJNG’s service territory at the Jersey Shore.
“It gives me hope carbon-storing habitats, like forests and marshes, can be our biggest ally in tackling climate change and helping natural and human communities adapt,” said Dr. Barbara Brummer, New Jersey State director for The Nature Conservancy. “We are grateful to New Jersey Natural Gas customers who are supporting our work to restore coastal salt marshes in our state’s back bays, and we thank New Jersey Resources for generously continuing its Coastal Climate Initiative.”
NJR and The Nature Conservancy in New Jersey recently renewed their partnership to continue supporting this important work – a key component of the CCI. This collaborative effort helps support the restoration and preservation of vital coastal ecosystems that sequester carbon emissions, protect coastal communities from extreme weather and serve as habitats for critical biodiversity along the Jersey Shore.
Today’s announcement builds on NJR’s strong record as a leader on environmental and climate issues across its businesses, including its goal to voluntarily achieve net-zero greenhouse gas emissions from its New Jersey operations by 2050. NJR achieved the following sustainability milestones over the past year:
To learn more about NJR’s commitment to sustainability, visit NJRSustainability.com.
About New Jersey Resources
New Jersey Resources (NYSE: NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary businesses:
NJR and its over 1,200 employees are committed to helping customers save energy and money by promoting conservation and encouraging efficiency through Conserve to Preserve® and initiatives such as The SAVEGREEN Project® and The Sunlight Advantage®.
For more information about NJR:
Visit www.njresources.com.
Follow us on Twitter @NJNaturalGas.
“Like” us on facebook.com/NewJerseyNaturalGas.
Media:
Michael Kinney
732-938-1031
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Investor:
Dennis Puma
732-938-1229
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DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the first quarter of 2022. The distribution will be paid on May 13, 2022 to unitholders of record on May 2, 2022.
HEP plans to announce results for its first quarter of 2022 on May 9, 2022 before the opening of trading on the NYSE and has scheduled a webcast conference on May 9, 2022 at 8:30 a.m. Eastern time to discuss financial results.
The webcast may be accessed at:
https://events.q4inc.com/attendee/607702822
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of HEP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, HEP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Forward Looking Statements:
This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner, using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in or filings with the Securities and Exchange Commission. Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to:
The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Manager, Investor Relations
DUBLIN--(BUSINESS WIRE)--The "Marine Seats Market Research Report by Component (Base, Footrest, and Pedestal), Ship Type, Seat Type, End User, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Marine Seats Market size was estimated at USD 2,146.82 million in 2021, USD 2,580.48 million in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 20.45% to reach USD 6,557.61 million by 2027.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Marine Seats Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Marine Seats Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Marine Seats Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Marine Seats Market?
4. What is the competitive strategic window for opportunities in the Global Marine Seats Market?
5. What are the technology trends and regulatory frameworks in the Global Marine Seats Market?
6. What is the market share of the leading vendors in the Global Marine Seats Market?
7. What modes and strategic moves are considered suitable for entering the Global Marine Seats Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/jlot88
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1235 per unit for the first quarter of 2022 ($0.494 per unit on an annualized basis), representing an increase of $0.0025 per unit, or 2.1% over the distribution declared for the fourth quarter of 2021. The quarterly increase is in-line with management’s previously stated guidance. The distribution is payable on May 13, 2022, to unitholders of record at the close of business on May 4, 2022.
First Quarter 2022 Earnings Release Date and Conference Call Information
The Partnership plans to report first quarter 2022 financial and operating results after market close on Wednesday, May 4, 2022. The Partnership will host a conference call and webcast regarding first quarter 2022 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, May 5, 2022.
To listen live over the Internet, participants are advised to log on to the Partnership’s website at www.usdpartners.com and select the “Events & Presentations” sub-tab under the “Investors” tab. To join via telephone, participants may dial (866) 518-6930 domestically or +1 (203) 518-9797 internationally, conference ID 9626417. Participants are advised to dial in at least five minutes prior to the call.
An audio replay of the conference call will be available for thirty days by dialing (888) 269-5319 domestically or +1 (402) 220-7322 internationally, conference ID 9626417. In addition, a replay of the audio webcast will be available by accessing the Partnership's website after the call is concluded.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies and refiners. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.
USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USD’s solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USD is currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.
Qualified Notice to Nominees
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to the amount and timing of the Partnership’s first quarter 2022 cash distribution and the business prospects of the Partnership and USD. Words and phrases such as “plans,” “expects,” “will,” “progressing on,” “pursuing,” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests, USD’s projects and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. The current economic downturn (including the effects of the ongoing situation in Ukraine and its regional and global ramifications) and pandemic introduces unusual risks and an inability to predict all risks that may impact the Partnership’s business and outlook. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include those as set forth under the heading “Risk Factors” in the Partnership’s most recent Annual Report on Form 10-K and in its subsequent filings with the Securities and Exchange Commission. The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Category: Earnings
Investor Relations Contacts:
Adam Altsuler, (281) 291-3995
Executive Vice President and Chief Financial Officer
Jennifer Waller, (832) 991-8383
Senior Director, Financial Reporting and Investor Relations
DUBLIN--(BUSINESS WIRE)--The "Cumene: 2022 World Market Outlook up to 2031" report has been added to ResearchAndMarkets.com's offering.
The report is an essential resource for one looking for detailed information on the world Cumene market. The report covers data on global, regional and national markets including present and future trends for supply and demand, prices, and downstream industries.
In addition to the analytical part, the report provides a range of tables and figures which all together give a true insight into the national, regional and global markets for Cumene.
Global Market Report:
Report Scope
Key Topics Covered:
1. INTRODUCTION: CUMENE PROPERTIES AND USES
2. CUMENE MANUFACTURING PROCESSES
3. CUMENE WORLD MARKET IN 2016-2021
3.1. World cumene capacity
3.2. World cumene production
3.3. Cumene consumption
3.4. Cumene global trade
3.5. Cumene prices
4. CUMENE REGIONAL MARKETS ANALYSIS
Each country section comprises the following parts:
4.1. Cumene European market analysis
Countries covered:
4.2. Cumene Asia Pacific market analysis
Countries included:
4.3. Cumene North American market analysis
Countries under consideration:
4.4. Cumene Latin American market analysis
Countries overviewed:
4.5. Cumene Middle East market analysis
Countries examined:
5. CUMENE GLOBAL MARKET FORECAST
5.1. Cumene capacity and production forecast up to 2031
5.2. Cumene consumption forecast up to 2031
5.3. Cumene market prices forecast up to 2031
6. KEY COMPANIES IN THE CUMENE MARKET WORLDWIDE
7. CUMENE FEEDSTOCK MARKET
8. CUMENE END-USE SECTOR
8.1. Consumption by application
8.2. Downstream markets review and forecast
For more information about this report visit https://www.researchandmarkets.com/r/ur3ihl
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), today reported financial results as at and for the three- month period and year ended December 31, 2021. All amounts are in Canadian dollars unless otherwise stated and are in accordance with IFRS.
For further information on the results please see the Company’s Consolidated Financial Statements and Management’s Discussion and Analysis filed on SEDAR at www.sedar.com and on EverGen’s website at www.evergeninfra.com.
Message to our Shareholders:
2021 was a transformational year for EverGen which saw the assembly of our core BC portfolio, acquisition of Fraser Valley Biogas, taking the company public via IPO and associated capital raises, together which have positioned EverGen to expedite growth as Canada’s RNG infrastructure platform. We delivered on our operational goals despite a number of challenges that we were able to overcome.
In the fourth quarter of 2021, our operations were impacted by the flooding events in the Abbotsford and Sumas Prairie regions. Net income (loss) and Adjusted EBITDA were impacted by downtime and increased costs, while Revenue increased over the previous quarter due to higher volumes of incoming organic feedstock primarily related to post-flood processing. EverGen’s FVB facility was temporarily shutdown on November 15, 2021 as a result of the flooding events.
Today our operations have successfully recovered from the impact of the floods, including bringing EverGen’s FVB facility back online on March 2, 2022. To date in 2022, EverGen has recovered more than $1.7 million of insurance proceeds, which represents a progress payment relating to lost revenues and additional expenses incurred from the flooding events. EverGen expects to recover further proceeds throughout 2022 as it incurred additional flood related expenses. This results in a deferral of positive Adjusted EBITDA that would have otherwise been recognized in the fourth quarter of 2021.
2021 Financial Highlights
The following table presents EverGen’s Consolidated Financial and Operating Summary:
|
Three Months Ended |
Year/Period Ended |
|||
|
Dec 31, |
Sep 30, |
Dec 31, |
Dec 31, |
Dec 31, |
In thousands of Canadian Dollars |
2021 $ |
2021 $ |
2020 $ |
2021 $ |
2020 $ |
FINANCIAL |
|
|
|
|
|
Revenue(1) |
2,693 |
1,937 |
- |
9,564 |
- |
Net income (loss)(2) |
(1,113) |
493 |
(2,227) |
(1,953) |
(2,233) |
Net income (loss) per share $, basic and diluted |
(0.08) |
0.04 |
(6.69) |
(0.18) |
(17.05) |
EBITDA(3)(4) |
(512) |
1,854 |
(2,515) |
836 |
(2,521) |
Adjusted EBITDA(3)(4) |
(18) |
791 |
- |
2,839 |
- |
|
|
|
|
|
|
Capital expenditures – property and equipment |
1,004 |
428 |
- |
1,590 |
- |
Capital expenditures – acquisitions |
- |
- |
24,498 |
10,644 |
24,498 |
Total assets |
80,610 |
80,933 |
50,540 |
80,610 |
50,510 |
Total long-term liabilities |
14,764 |
15,142 |
8,780 |
14,764 |
8,780 |
Working capital surplus (deficit)(4) |
20,545 |
21,751 |
(2,842) |
20,545 |
(2,842) |
|
|
|
|
|
|
OPERATING |
|
|
|
|
|
Incoming organic feedstock (tonnes) |
26,110 |
20,465 |
- |
94,206 |
- |
Organic compost and soil sales (yards)(5) |
5,119 |
12,532 |
- |
61,790 |
- |
RNG (gigajoules)(1) |
12,682 |
23,854 |
- |
55,380 |
- |
(1) |
RNG volumes commenced on April 16, 2021, upon the acquisition of Fraser Valley Biogas (“FVB”). RNG volumes were lower for the fourth quarter of 2021 as a direct result of flooding events in the Abbotsford and Sumas Prairie regions, which resulted in the shut down of the FVB facility on November 15, 2021, until operations were restored. Since March 2, 2022 FVB has been operating and producing daily volumes of up to 223 GJ/d, restoring production volumes to historical levels. |
(2) |
Operating expenses and cost of goods sold increased during the fourth quarter of 2021 at FVB and Net Zero Waste Abbotsford (“NZWA”) as a direct result of the flooding events. |
(3) |
The lost revenues and additional costs incurred as a result of the floods are insurable under the Company’s insurance policies and will be offset with insurance proceeds received and recognized in net income (loss) during 2022. There were no insurance proceeds related to the floods recognized in net income (loss) during 2021. |
(4) |
Please refer to "Non-IFRS Measures" |
Management Team Growth
EverGen successfully achieved its 2021 milestones, increasing productivity at all three facilities as well as executing on acquisitional growth. With a solid leadership team in place to set the foundation, we have expanded the core team to accelerate our growth trajectory and leverage our unique position in the RNG industry.
After successfully leading the Company’s initial acquisitions and IPO in August of 2021, Mischa Zajtmann, President of EverGen has assumed the role of Chief Operating Officer, overseeing our technical leaders to drive best in class performance in operations, successful development and integration of growth projects and fostering synergies across the organization. Concurrently, Sean Mezei will transition to a strategic RNG advisor role. He will provide focused support and expertise to the operating and project teams including playing a key role in the Company’s evaluation of new projects and growth strategy, as well commissioning and optimization of our core RNG facilities.
Additionally, EverGen has welcomed Jamie Betts, VP of Operations, and Sean Hennessy, VP of Finance, as the Company continues to expand its RNG platform and become increasingly active in the M&A space and delivering on a growing number of expansion and development projects.
Betts, a professional engineer, joins EverGen as VP of Operations with over 35 years of experience in multinational energy and waste management companies, including, more recently, the positions of VP of Engineering at Miller Waste Systems Inc. and Project Director at Husky Energy. He brings to the team a demonstrated track record in project execution, process implementation, safety optimization, and environmental, operations and maintenance performance expertise, all of which will bolster the EverGen platform in operations, existing expansion projects and future growth opportunities.
Hennessy, a chartered accountant, joins EverGen as VP of Finance with over 15 years of finance and accounting related experience, including the positions of Director of Corporate Reporting for Altera Infrastructure, a global energy infrastructure group and a Brookfield Business Partners portfolio company, and Director of Financial Reporting for a clean technology company. He brings to the team a proven track record of success working within public and private equity portfolio companies and will support EverGen in realizing platform synergies with his strong business acumen combined with well-developed analytical skills and a focus on accretive growth.
These additions to the management team further strengthens our Company and provides additional capacity for development, construction, and operations for EverGen’s growing platform.
Pursuant to the Company’s Equity Plan, the Company has granted 78,976 restricted share units (RSUs) to certain officers of the Company.
2021 Achievements & Highlights:
1. Establishing our Initial Core RNG Portfolio
2. Solid Operational & Asset performance
3. Strong Capital Discipline
4. Positioning for Growth
Outlook
In 2021, EverGen laid the foundation for growth and positioned the Company to be a leader in the RNG infrastructure space in 2022 and beyond. The recently announced letter of intent to acquire a 67% interest in GrowTec, an Alberta based biogas facility, is a cornerstone project in a new jurisdiction for EverGen and demonstrates the Company’s ability to participate in the consolidation and growth of the RNG industry. EverGen intends to pursue similar opportunities within its core markets and across the country, investing in truly sustainable operations that contribute to carbon-negative energy production and positively impacting climate change initiatives.
Core Expansion Projects Update
NZWA: The Company’s Net Zero Waste Abbotsford composting facility will undergo a capital expansion project to add an anaerobic digester to produce biogas, which will then be upgraded to RNG to feed into FortisBC’s gas network under a previously announced long-term off-take contract. The expansion is expected to increase the facility throughput to ~135,000 tonnes of feedstock per year and is designed to produce ~180,000 GJ of RNG per year.
As a result of ongoing Covid implications and the flooding event in late-2021, the Company is anticipating a delay in construction of the expansion project based on recent discussions with local and provincial regulatory authorities. To mitigate these delays and advance the project with minimal impact to the schedule, EverGen’s management team is considering a number of options and will provide updates on the project schedule as it becomes available. Concurrently, management is evaluating additional opportunities to utilize capital earmarked for this project to advance new core projects with similar return profiles.
FVB: The Company’s Fraser Valley Biogas RNG facility will undergo a capital expansion project to add additional RNG production capacity. The expansion is expected to nearly double the capacity of the facility to accept ~100,000 tonnes of feedstock per year and increase RNG production to ~160,000 GJ per year.
We anticipate this expansion project may also experience some delays in the approval process due to the same issues outlined above, however with the initial phase of the expansion project utilizing existing site infrastructure, incremental RNG production and additional EBITDA contribution is still expected by the end of 2022.
Sea to Sky Soils: Sea to Sky Soils is working with the Ministry of Environment to expand operational capacity in 2022 which further bolsters EverGen’s footprint in Southern BC allowing for processing of incremental organic waste feedstock volumes.
Summary
EverGen remains positioned to deliver strong shareholder returns in 2022 and beyond with many competitive advantages, including the following:
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on British Columbia, with continued growth expected across other regions in North America.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
Non-IFRS Measures
EverGen uses certain financial measures referred to in this press release to quantify its results that are not prescribed by IFRS. The terms EBITDA, adjusted EBITDA and working capital are not recognized measures under IFRS and may not be comparable to that reported by other companies. EverGen believes that, in addition to measures prepared in accordance with IFRS, the non-IFRS measurement provide useful information to evaluate the Company’s performance and ability to generate cash, profitability and meet financial commitments.
These non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for other measures of performance prepared in accordance with IFRS.
EBITDA is defined as net income (loss) before interest, tax and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for share-based payment expenses and unusual or non-recurring items. Working capital is calculated as current assets less current liabilities.
Forward-Looking Information
This news release contains forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “would”, “will”, “anticipates”, believes”, “explores” and similar expressions, as they relate to EverGen, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of EverGen with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause EverGen's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits EverGen will derive therefrom. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada, including the ongoing COVID19 pandemic; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada; volatility of prices for energy commodities; change in demand for clean energy to be offered by EverGen; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities, in Canada; ability to access sufficient capital from internal and external sources; optimization and expansion of organic waste processing facilities and RNG feedstock; the realization of cost savings through synergies and efficiencies expected to be realized from the Company’s completed acquisitions; the sufficiency of EverGen’s liquidity to fund operations and to comply with covenants under its credit facility; continued growth through strategic acquisitions and consolidation opportunities; continued growth of the feedstock opportunity from municipal and commercial sources, and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated January 31, 2022, many of which are beyond the control of EverGen.
Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such forward looking statements.
The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly be required by law, EverGen disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
EverGen Investors
Kelly Castledine
416-576-8158
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EverGen Media
Katie Reiach
604.614.5283
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DUBLIN--(BUSINESS WIRE)--The "Australia Automotive Coolant Market by Vehicle Type, Product Type, Technology, Demand Category and Region: Forecast & Opportunities to 2025" report has been added to ResearchAndMarkets.com's offering.
The Australian Automotive Coolant Market was valued at USD 267.06 Million in 2019 and is forecast to grow at CAGR of over 9% in the next five years to reach USD 340.61 Million by 2025.
Anticipated growth in the market can be attributed to rising demand of passenger cars, coupled with increase in construction and mining activities in the country.
Moreover, improving economic conditions after COVID-19 outbreak, increase in disposable income and rise in financial status of the consumers are predicted to positively influence the growth of the market in the coming years. Majority of the high-performance vehicle manufacturing companies are in Australia and the automotive industry is expanding its business in Australia to decrease the import of passenger vehicles from other APAC countries which will offer a lucrative market for automotive coolant manufacturer through 2025.
The Australian Automotive Coolant Market is segmented based on vehicle type, product type, technology, demand category and region. Based on vehicle type, the market can be segmented into passenger car, commercial vehicle, two-wheeler and OTR. Based on vehicle type passenger car is expected to hold the largest share during the forecast period, due to growing registration of passenger car and increasing in ownership of vehicle post COVID.
In terms of product type, market can be segmented into ethylene glycol, propylene glycol and glycerol. Ethylene glycol is expected to hold major share during the forecast period, on account of low price, availability and demand in the market, so the majority of lubricant manufacturer prefer to use ethylene glycol for manufacturing of automotive lubricants.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as automotive coolant manufacturers, distributors and dealers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Australia Automotive Coolant Market
4. Executive Summary
5. Voice of Customer
6. Australia Automotive Coolant Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheeler, OTR)
6.2.2. By Product Type (Ethylene glycol, Propylene glycol, Glycerol)
6.2.3. By Technology (Inorganic acid technology, Organic acid technology, Hybrid organic acid technology)
6.2.4. By Demand Category (OEM Vs. Replacement)
6.2.5. By Region
6.2.6. By Company
6.3. Market Attractive Index (By Vehicle Type)
6.4. Market Attractive Index (By Technology)
6.5. Market Attractive Index (By Region)
7. Australia Passenger Car Coolant Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Product Type (Ethylene glycol, Propylene glycol, glycerol))
7.2.2. By Technology (Inorganic acid technology, Organic acid technology, Hybrid organic acid technology)
7.2.3. By Demand Category (OEM Vs. Replacement)
8. Australia Commercial Vehicle Coolant Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Product Type (Ethylene glycol, Propylene glycol, glycerol))
8.2.2. By Technology (Inorganic acid technology, Organic acid technology, Hybrid organic acid technology)
8.2.3. By Demand Category (OEM Vs. Replacement)
9. Australia Two-Wheeler Coolant Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Size & Forecast
9.2.1. By Product Type (Ethylene glycol, Propylene glycol, glycerol))
9.2.2. By Technology (Inorganic acid technology, Organic acid technology, Hybrid organic acid technology)
9.2.3. By Demand Category (OEM Vs. Replacement)
9.3. Voice of Customers
10. Australia OTR Vehicle Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Size & Forecast
10.2.1. By Product Type (Ethylene glycol, Propylene glycol, glycerol))
10.2.2. By Technology (Inorganic acid technology, Organic acid technology, Hybrid organic acid technology)
10.2.3. By Demand Category (OEM Vs. Replacement)
11. Import-Export Analysis
12. Market Dynamics
12.1. Market Drivers
12.2. Market Challenges
13. Policy & Regulatory Landscape
14. Market Trends & Developments
15. Pricing Analysis
16. Australia Economic Profile
17. Competitive Landscape
17.1. Royal Dutch Shell PLC
17.2. Castrol Australia Pty. Ltd.
17.3. Chevron Australia Downstream Pty. Ltd.
17.4. Penrite Oil Co. Pty. Ltd.
17.5. Valvoline Australia Pty. Ltd.
17.6. Caltex Australia Ltd.
17.7. Total Oil Australia Pty. Ltd.
17.8. Nulon Products Australia Pty. Ltd.
17.9. ExxonMobil Corporation Ltd.
17.10. Fuchs Lubricants (Australasia) Pty. Ltd.
18. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/379ez1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December 31, 2021 and 2020, were as follows:
|
Twelve months ended
|
Increase /
|
||||||||||
|
2021 |
2020 |
||||||||||
Barrels of Oil Produced................. |
|
738,000 |
|
733,000 |
|
5,000 |
|
|||||
Average Price Received................ |
$ |
68.39 |
$ |
38.02 |
$ |
30.38 |
|
|||||
Oil Revenue (In 000’s).................. |
$ |
50,474 |
$ |
27,865 |
$ |
22,609 |
|
|||||
Mcf of Gas Sold............................ |
|
3,236,000 |
|
3,381,000 |
|
(145,000 |
) |
|||||
Average Price Received................ |
$ |
3.53 |
$ |
1.24 |
$ |
2.29 |
|
|||||
Gas Revenue (In 000’s)................. |
$ |
11,432 |
$ |
4,202 |
$ |
7,230 |
|
|||||
Barrels of Natural Gas Liquids Sold.............. |
|
416,000 |
|
437,000 |
|
(21,000 |
) |
|||||
Average Price Received................ |
$ |
26.97 |
$ |
11.22 |
$ |
15.75 |
|
|||||
Natural Gas Liquids Revenue (In 000’s)......... |
$ |
11,220 |
$ |
4,906 |
$ |
6,314 |
|
|||||
Total Oil & Gas Revenue (In 000’s)................ |
$ |
73,126 |
$ |
36,973 |
$ |
36,153 |
|
|||||
Proved reserves at December 31, 2021 were 5,386,000 barrels of oil, 2,882,000 barrels of natural gas liquids and 23,902,000 thousand cubic feet of natural gas; or 12,252,000 barrels of oil equivalents.
Our current credit facility provides for a credit line of $50 million; as of April 21, 2022, we have outstanding borrowings of $8 million with the right to borrow $42 million additionally.
|
Year Ended December 31, |
|||||||||||
|
2021 |
2020 |
Increase /
|
|||||||||
Revenues (In 000’s)............ |
$ |
79,613 |
$ |
58,421 |
|
$ |
21,192 |
|||||
Net (Loss) Income (In 000’s) |
$ |
2,098 |
$ |
(2,316 |
) |
$ |
4,414 |
|||||
Earnings per Common Share: |
|
|
|
|||||||||
Basic............................ |
$ |
1.05 |
$ |
(1.16 |
) |
$ |
2.21 |
|||||
Diluted......................... |
$ |
0.76 |
$ |
(1.16 |
) |
$ |
1.92 |
|||||
Shares Used in Calculation of: |
|
|
|
|||||||||
Basic EPS..................... |
|
1,992,077 |
|
1,994,425 |
|
|
||||||
Diluted EPS.................. |
|
2,744,162 |
|
1,994,425 |
|
|
||||||
|
|
|
|
|||||||||
PNRG received a determination letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule Listing Rule 5810(b), as a result of the Company’s failure to timely file its Form 10-K for the fiscal year ended December 31, 2021. Under Nasdaq’s Rules the Company has 60 calendar days to submit a plan to regain compliance to Nasdaq. The Company has submitted its Form 10-K for the fiscal year ended December 31, 2021 to the Securities and Exchange Commission on April 21, 2022, therefore, the Company is now in compliance with the NASDAQ listing rules.
PrimeEnergy is an independent oil and gas company actively engaged in acquiring, developing and producing oil and gas, and providing oilfield services, primarily in Texas and Oklahoma. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.
Forward-Looking Statements
This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.
Connie Ng, (713) 735-0000 ext 6416
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