GREENVILLE, S.C.--(BUSINESS WIRE)--Current™ selects Smart Lighting Solutions as its new representative in Georgia for its HLI Brands Portfolio. Smart Lighting Solutions will help Current drive specification of its advanced lighting and connected controls portfolio known for reliability and quality and delighting customers with responsive service and the product solutions they expect.
Established in 2014, Smart Lighting Solutions rapidly evolved into the market-leading agency with two locations servicing North and South Georgia. They are committed to forwarding a blend of expertise, service, and care for lighting and controls systems to generate results customers can celebrate.
“We are extremely excited to be partnering with Smart Lighting Solutions and have their organization represent Current. They’re a well-respected agency with a knowledgeable staff that has strong expertise,” said Chip Taylor, Current’s Chief Commercial Officer. “Current will also be announcing new representation in the Northern Florida market in the coming weeks, stay tuned.”
Geoff Marlow, Principal Smart Lighting Solutions said, “We’re excited to be working with Current who brings well over a decade of lighting and controls experience to the table. Their HLI brand portfolio and commitment to quality and service will really delight our customers and we look forward to the partnership.”
About Current
At Current, we are Always On and working to improve lives with the industry’s most expansive portfolio of sustainable advanced lighting and intelligent controls that reliably meet our customers’ needs. Learn more at CurrentLighting.com
About Smart Lighting Solutions
Smart Lighting Solutions commits to blending expertise, service, and passion for lighting and controls systems generating results our customers can celebrate. Learn more at https://smartltg.com/.
Jim Benson, Vice President Enterprise Marketing & Communications
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(216) 534-4155
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") will hold its third quarter 2022 earnings conference call at 9:00 a.m. CDT (10:00 a.m. EDT) on Tuesday, November 1, 2022. The earnings release will be issued before the New York Stock Exchange opens that morning.
The conference call will be webcast live at www.valaris.com. Alternatively, callers may dial +1-855-239-3215 within the United States or +1-412-542-4130 from outside the U.S. It is recommended that participants call 10 minutes prior to the scheduled start time.
A webcast replay and transcript of the call will be available on the Company’s website. A replay will also be available through December 1, 2022 by dialing +1-877-344-7529 within the United States or +1-412-317-0088 from outside the U.S. (conference ID 4710077).
Valaris uses its website to disclose material and non-material information to investors, customers, employees and others interested in the Company. To receive regular updates on Valaris news or SEC filings, please sign-up for Email Alerts on the Company’s website.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
Tim Richardson
Director - Investor Relations
+1-713-979-4619
This exciting new development has significantly improved administrative Procure to Pay workflow processes between transacting entities. It has been pioneered by industry consortium Blockchain for Energy and its members Worley and Chevron.
HOUSTON--(BUSINESS WIRE)--#Blockchain--Blockchain for Energy (B4E) has announced that it will shortly go to market with its new Smart Contracts solutions. These solutions, which allow for increased speed and high levels of efficiency, have been developed by Worley in collaboration with B4E and Chevron.
“Blockchain for Energy members Worley and Chevron were instrumental in the concepting, development and testing of these solutions which clearly demonstrates the strength and ability of our collaboration and signals the start of the great things yet to come. Working in collaboration with our members is what we do best,” said Rebecca Hofmann, CEO, Blockchain for Energy.
B4E’s inclusive approach and holistic view on technologies enables it to create the right solution at the right time. In addition, its vision to build a private permissioned blockchain network allows it to share these solutions and ideas across its membership base for the benefit of the entire industry.
Driving Smart Contract solutions and delivering undisputed results.
Smart contracts are programs stored on a blockchain which run when conditions or criteria are met. They are used to automate the execution of terms and conditions of a paper contract so that all participants can immediately see the outcome, without any party’s involvement or loss of time. They can also automate workflows, by acknowledging an action and then triggering the next action when certain conditions are met.
In realizing the potential of this technology, Blockchain for Energy and its members quickly went to work on determining best practices and use cases for the industry at large. Their focus fell on the manual nature of the Procure to Pay workflow that involved Work Order approvals, Timesheet approvals, and Invoicing. This solution looked to resolve issues around industry practices that were creating inflated costs and delays in payments and to create proven, secure, solutions that provided an immediate demonstration of their value.
A pilot was conducted under the B4E Smart Contracts Program between B4E members Chevron and Worley. From the generated data, B4E were able to develop a project which took paper contracts and automated them into digital Smart Contracts to be run on Blockchain technology. This solution, when applied to the Procure to Pay process, realized greater transparency and a more seamless way of working between the contractual parties thus saving time and money.
"Smart Contracts, combined with blockchain and other technologies, opens up opportunities to stop reworking the same old legacy systems and to truly transform the way we do back-end processes. This makes them seamless and more transparent with minimal human intervention and eliminates rework and reconciliations. Worley has been an outstanding partner and their focus on leveraging digital innovation and improving efficiencies between clients and vendors became the driving force to achieve this important milestone." Raquel Clement - Chairperson of the Board, Blockchain for Energy (Chevron).
The pilot resulted in a 60% reduction in processing of timesheet approvals and an 80% reduction in turnaround time. This pilot also provided complete transparency to all transacting parties reducing the probability of disputes and simplifying their resolution. It was coded by Worley and was run on a BaaS (Blockchain as a Service) platform called Strato which was hosted by B4E vendor BlockApps.
From the proven results generated, B4E and its members now plan to go to market with standard industry grade Smart Contract templates to ease adoption and scaling for members and the industry at large. B4E will start with the Procure to Pay elements and move to other types of digital contracts beyond Procure to Pay as the need arises.
“Having partnered with Chevron on the pilot, we see very real potential for smart contracts to revolutionize the way companies transact and contract with each other in the energy industry and we look forward to driving this innovation in collaboration with B4E.” Vishal Mehta, Board Member B4E, (Worley).
Charting a course for a cleaner and more efficient digital energy future.
By using a mix of technologies to deliver industry-wide standards and solutions, B4E seek to help our members understand and realize the many new opportunities emerging in our industry. B4E is working to develop and deploy innovative, value-added solutions, modernizing the way business is done. In doing this, they seek to optimize cost, increase efficiency, and promote industry growth and choices for the future. Drawing on knowledge from some of the most experienced industry leaders, the consortium’s work will lead to enhanced innovation and drive the necessary change as we transition into a new digital era.
Through collaboration, industry consensus, and proactive development of new technologies, B4E and its members are creating a technology mix to ensure a smooth transition to a low-carbon environment. Current B4E members include Chevron, ConocoPhillips, Devon Energy, ExxonMobil, Pioneer Natural Resources, Repsol, Schlumberger, API, and Worley.
About Blockchain for Energy
Utilizing the benefits of blockchain technology, the Blockchain for Energy (B4E) consortium provides its members with forward thinking learnings and solutions for the energy industry. We collaboratively drive digital transformation towards Web3 by providing members with opportunities to accelerate their digitalization journey. We seek to resolve, reinvent, and transform the industry’s ways of working through collective synergies. Blockchain for Energy is a safe venue to create transformational change – for the energy industry – by the energy industry.
About Worley
By offering a wide range of services and scope of expertise, Worley works with clients at every stage of their project; from initial concepts to enhancing assets. Worley delivers projects and provides engineering, construction, and procurement prowess to the chemicals, power, and mining and minerals sectors.
Martin Juniper
Blockchain for Energy
713.816.4173
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LYNCHBURG, Va.--(BUSINESS WIRE)--BWX Technologies, Inc. (NYSE: BWXT) announced today that it has closed on an amended and restated credit agreement with Wells Fargo Bank, N.A. and other lenders that increases the company’s liquidity while improving a number of key terms for BWXT.
The amended and restated credit agreement, among other things, provides for a new $250 million Term A Loan that matures Oct. 12, 2027, which the company used to repay outstanding borrowings under its existing $750 million Revolving Credit Facility, extends the maturity date of the existing $750 million Revolving Credit Facility by approximately 2 1/2 years to Oct. 12, 2027, and modifies the leverage-based calculations and covenants under the amended and restated credit agreement to allow for the netting of up to $100 million in cash and cash equivalents.
“Securing this financing agreement is an important step for BWXT, and we appreciate our banks working closely with us to deliver the additional and extended commitments in today’s unique market environment,” said Robb LeMasters, senior vice president and chief financial officer. “The amended and restated credit agreement provides us with incremental liquidity and an extended debt maturity profile, as well as other improvements to key terms of our credit facility that will continue to provide balance sheet flexibility to support the funding of potential opportunities to create value for BWXT.”
Additional detail is available in our Form 8-K filed with the SEC today.
Forward Looking Statements
BWXT cautions that this press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the use of proceeds. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, material adverse changes in economic or industry conditions generally. If one or more of these or other risks materialize, actual results may vary materially from those expected. For a more complete discussion of other risk factors, see BWXT’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on Form 10-Q. BWXT cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong, Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a Fortune 1000 and Defense News Top 100 manufacturing and engineering innovator that provides safe and effective nuclear solutions for global security, clean energy, environmental remediation, nuclear medicine and space exploration. With approximately 6,700 employees, BWXT has 14 major operating sites in the U.S., Canada and the U.K. In addition, BWXT joint ventures provide management and operations at more than a dozen U.S. Department of Energy and NASA facilities. Follow us on Twitter at @BWXT and learn more at www.bwxt.com.
Media Contact
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Investor Contact
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DUBLIN--(BUSINESS WIRE)--The "Biofuel Enzymes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Biofuel Enzymes Market to Reach $1.3 Billion by 2026
Global Biofuel Enzymes market is projected to register healthy growth over the near-to-long term. The market, estimated at US$1 Billion in 2022 is projected to reach US$1.3 Billion by 2026, registering a compounded annual growth rate (CAGR) of 7.3% over the analysis period.
The global production of biofuels falls into three primary categories: ethanol, biodiesel, and hydro treated vegetable oil (HVO). Ethanol, produced from starchy feedstock (corn, wheat, cassava) and sugary feedstock (sugarcane, molasses, beets) is blended with petrol. Biodiesel, produced from non-edible agricultural material such as oil seeds, is blended with diesel. HVO or green diesel is emerging as an attractive alternative to biodiesel lately, with its primary advantage being chemical equivalence to petroleum diesel and thus its usage in diesel engines with no modification.
United States represents the largest regional market for Biofuel Enzymes, accounting for an estimated 37.8% share of the global total. The market, estimated at US$384.7 Million in 2022 is projected to reach US$587.1 Million by the close of the analysis period. The United States is forecast to emerge as the fastest growing regional market with a CAGR of 8.0% over the analysis period. The market is set to maintain its growth momentum led by improving domestic fundamentals, and other unique growth drivers.
Growth in the market will continue to be driven by surging demand for biodiesel, a clean and increasingly popular alternative for diesel. The increasing need for higher product specificity and productivity, combined with escalating environmental concerns and intensified government efforts for framing regulations with respect to biofuel combinations is helping the biofuel enzymes market grow.
Additional factors driving biofuel enzymes growth include increasing use of biodiesel and bio-based ethanol, which not only minimize fuel cost but also carbon dioxide emissions, and greater customer transition towards the production of ethanol using cellulases and associated enzymes. Other important stimulants include greater demand for higher-efficacy enzymes-based pharmaceuticals and increased awareness about the application of biofuel enzymes in protein engineering technology.
Amylase Segment to Reach $504 Million by 2026
Mostly sourced from plants and bacteria, amylase is a mainstream enzymatic solution for manufacture of sugar-based biofuels. Amylase ferments sugars into alcohol such as ethanol, butanol and propanol etc., thus making them useful in fuel applications. In fact, Amylase is the most commonly used biofuel enzyme for manufacture of fuel ethanol, the widely used biofuel in the world followed by biodiesel.
Compared to other enzymes, amylase has high resistant power, which allows the enzyme to endure an array of temperature, pH and acidity levels during feedstock conversion into fuel. Global market for Amylase is estimated at US$375.6 Million in 2022, and is projected to reach US$504 Million by 2026 reflecting a compounded annual growth rate of 7.0% over the analysis period.
United States constitutes the largest regional market for Amylase segment, accounting for 36.5% of the global sales. United States is poised to register the fastest compounded annual growth rate of 7.5% over the analysis period to reach US$205.7 Million by the close of the analysis period.
What`s New for 2022?
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 45 Featured)
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/dt7bx4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc. (NYSE:AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced that management will host a Renewable Natural Gas (RNG) plant tour in Phoenix, AZ on Tuesday, November 15, 2022.
The plant tour will begin at 10 a.m. MT and will showcase the largest wastewater treatment biogas-to-renewable natural gas (RNG) facility in the US, designed, built, owned, operated and maintained by Ameresco. The plant tour will be followed by a lunch at 11:30 a.m. MT hosted by management at the Courtyard by Marriott Phoenix West/Avondale. The lunch will include a presentation and Q&A session providing a deeper understanding of Ameresco’s RNG business.
Analysts and institutional investors interested in attending are encouraged to contact Ameresco Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent clean technology integrator of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
Media Relations
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Investor Relations
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DUBLIN--(BUSINESS WIRE)--The "Global Internet of Military Things Market Size, Trends & Growth Opportunity, By Accessibility, By Element, By Application, By Region and Forecast to 2027." report has been added to ResearchAndMarkets.com's offering.
Global Internet of Military Things Market was valued at USD32 billion in 2021 and is slated to reach at USD 63 billion by 2027 at a CAGR of 9.2% from 2022-2027.
For communication and a number of other objectives, modern military forces rely primarily on electronic networks. To analyse and disseminate data, advanced military forces have been investing in C4ISR (command, control, communications, computers, intelligence, surveillance, and reconnaissance) systems and infrastructure. By more effectively utilising and maximising the usage of a greater volume of the gathered data, IoMT seeks to advance this process.
Market Drivers
The need for global IoT in the military market has grown as a result of the necessity for increased national security. The condition of a Fighter on the field is quite tough to keep track of. The soldier's jacket can be equipped with a variety of sensors that can track, detect, and send alerts about the soldier's changing medical conditions to the command centre. From there, each combatant can be closely monitored and, in the event of an emergency, can be taken out of the field or given medical supplements based on their specific medical needs, both of which will support the market expansion.
National territories urgently require increased physical security at the national level, and defence IoT is essential to accomplishing this objective. A huge aspect in the growth of the global IoT in defence market has been the availability of a unified electronic manufacturing base across geographies.
The IoT in defence market is being driven by the benefits of IoT in terms of high connection, enhanced security, and quick decision-making abilities. Adopting IoT in the defence sector will enable real-time GPS tracking, vehicle sensor-embedded speed and motor condition displays, overall engine timings, fuel economy, and much more.
Market Restraints
The IoT's enormous power consumption during conflicts or fights can further impede the market's expansion for IoT in defence. IoT devices are evolving and becoming more widely used, making it difficult to keep the data they collect and transmit secure. Despite being a top priority, IoT devices aren't always incorporated in the plan despite cybersecurity. Devices must be safeguarded against physical manipulation, network-based attacks, software attacks launched via the internet, and hardware attacks that may impede market expansion.
Market Segmentation
Global Internet of Military Things Market is segmented into Accessibility, Element & Application. By Accessibility such as Cellular, Wi-Fi, Radio Frequency Identification, Others. By Elements such as Software, Hardware, Services. By Application such as Equipment Maintenance, Health Monitoring, Real-Time Fleet Management, Training & Simulation, Inventory Management.
Regional Analysis
Global Internet of Military Things Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Due to its technologically advanced infrastructure, high internet of things (IoT) adoption, and rising demand for IoT in defence tools, North America accounted for the majority of revenue in the worldwide IoT in defence market.
In addition, technical developments like the conversion of industrial infrastructure into a smart setting and the incorporation of blockchain & cryptography techniques into IoT security services are projected to drive the Asia-Pacific market to new heights. Due to the rising urbanisation of the region, emerging economies like China and India, and other factors, the Asia Pacific region is predicted to grow quickly during the course of the projected time.
Market Taxonomy
By Accessibility
By Elements
By Application
By Region
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Global Internet of Military Things Market Outlook
5 Global Internet of Military Things Market, By Accessibility
6 Global Internet of Military Things Market, By Elements
7 Global Internet of Military Things Market, By Application
8 Global Internet of Military Things Market, By Region
9 North America Internet of Military Things Market Analysis and Forecast (2022-2027)
10 Europe Internet of Military Things Market Analysis and Forecast (2022-2027)
11 Asia Pacific Internet of Military Things Market Analysis and Forecast (2022-2027)
12 Latin America Internet of Military Things Market Analysis and Forecast (2022-2027)
13 Middle East Internet of Military Things Market Analysis and Forecast (2022-2027)
14 Competitive Analysis
15 Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/le4m22
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN & AUSTIN, Texas--(BUSINESS WIRE)--Alternus Energy Group Plc ("Alternus" or the "Company") (OSE: ALT) and Clean Earth Acquisitions Corp. (NASDAQ: CLIN) (“Clean Earth”), a climate technology and energy transition-focused special purpose acquisition company, today announced the execution of a definitive business combination agreement.
Under the agreement, at the closing, Alternus will transfer its equity ownership in substantially all its subsidiaries in exchange for up to 90 million newly issued shares in Clean Earth. Initially, Clean Earth will issue 55 million shares at closing (subject to a working capital adjustment capped at 1 million additional shares) plus up to 35 million shares subject to certain earn-out provisions, which will be deposited in escrow and will be released if certain EBITDA and share price targets are met. Alternus will own approximately 64% of Clean Earth at closing, assuming no redemptions by Clean Earth shareholders, in which case the combined company will have approximately $220 million of cash available at closing.
The combined company is expected to have an initial equity value of approximately $863 million, assuming no redemptions by Clean Earth shareholders. The business combination valuation is based on 168MW of current operating and 649MW of in-development projects owned by Alternus, plus 845MW of contracted acquisitions with an additional 800MW of solar PV projects that Alternus has exclusive rights to purchase subject to due diligence and entering into definitive agreements. The Clean Earth Board of Directors received an independent, third-party Fairness Opinion which will be included in a proxy statement to be filed with the US Securities and Exchange Commission (“SEC”).
Closing is contingent on customary closing conditions for transactions of this nature, including Clean Earth shareholder approval, following filing of the proxy statement, approval for listing on Nasdaq, and a minimum of $25 million in cash being available at or before closing. Alternus may waive the minimum cash condition at its discretion. The transaction is expected to close in the first quarter of 2023.
On closing, Clean Earth intends to change its name to Alternus Clean Energy Inc. The combined company will be led by Vincent Browne, Chairman and Chief Executive Officer of Alternus, and the business will continue to operate as normal. Clean Earth and Alternus intend to arrange a committed capital on demand equity placement program of up $100 million, which can be called upon at the discretion of the combined company, and potentially other financing options ahead of completion of the business combination.
Alternus shares will continue to trade on the Euronext Growth market in Oslo, while Clean Earth’s common stock is expected to continue to be listed on the Nasdaq Market. Bonds issued by Solis Bond Company DAC will continue to trade as normal. Bondholders of Solis Bond Company DAC will be approached in due course in relation the transaction.
Additional information about the transaction will be provided in a Current Report on Form 8-K to be filed by Clean Earth with the SEC and will be available at www.sec.gov and on the Clean Earth website. Alternus will file further details on the Euronext Notice including an Investor Presentation relating to the transaction. In addition, Clean Earth intends to file a proxy statement with the SEC and will file other documents regarding the proposed transaction with the SEC in due course.
Alternus will be holding a capital markets update to discuss the impact of this proposed transaction and on the business in general on Monday, October 17th at 15:00 CET (10:00am EST). Those interested in attending can register for the event at the following link: https://forms.office.com/r/fzs3XRiaie
Alternus Highlights
“Alternus has reached an inflection point in our growth, with a significant increase in contracted pipeline and operating assets over the past year,” said Vincent Browne. “We are grateful to have support from investors in Europe and the United States who are committed to the clean energy transition. We expect that this proposed transaction will leave Alternus well-positioned and well-capitalized to continue developing and/or acquiring, installing and operating renewable energy assets across Europe and also now in the United States.”
Aaron Ratner, CEO of Clean Earth, added, “Alternus has built a strong foundation for rapid growth of its renewable power portfolio, and with their continued expansion we anticipate that Alternus will continue to generate consistent, long-term returns for shareholders. Our business combination, Nasdaq listing and the anticipated access to new equity and potentially lower cost debt capital is expected to fuel this expansion and accelerate the company’s conversion of development and contracted projects into cash flowing operating assets.”
Nicholas Parker, Executive Chairman of Clean Earth, commented, “The passage of the US Inflation Reduction Act will be a game-changer for the growth of solar power and other renewable energy technologies. Likewise in Europe, solar PV capacity is set to grow ~40% over the next three years. We believe Alternus is well positioned to take advantage of this once-in-a-generation energy transition.”
Advisors
JonesTrading Institutional Services acted as financial advisor to Clean Earth and supported Clean Earth in this Business Combination. Proskauer, Rose LLP acted as legal counsel to Clean Earth. King & Spalding LLP acted as legal counsel to the financial advisor. Carmel, Milazzo & Feil LLP acted as legal counsel to Alternus in the transaction.
About Alternus Energy
Alternus Energy Group Plc is an international vertically integrated independent power producer (IPP). Headquartered in Ireland, and listed on the Euronext Growth Oslo, the Company develops, installs, owns, and operates midsized utility scale solar parks. The Company also has offices in Rotterdam and America. Alternus Energy aims to own and operate over 3.5 gigawatts of solar parks by the end of 2025. For more information visit www.alternusenergy.com.
About Clean Earth Acquisitions Corp.
Clean Earth Acquisitions Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities. For more information visit www.cleanearthacquisitions.com.
Participants in the Solicitation
Clean Earth, Alternus Energy and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Clean Earth’s shareholders in connection with the Proposed Business Combination. Information regarding the directors and executive officers of Clean Earth and their ownership of Clean Earth common stock is set forth in Clean Earth’s final prospectus filed with the SEC on November 19, 2021, in connection with Clean Earth’s initial public offering. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Clean Earth’s shareholders in connection with the Proposed Business Combination will be s included in the proxy statement that Clean Earth intends to file with the SEC. Additional information regarding the interests of participants in the solicitation of proxies in connection with the Proposed Business Combination will be included in the proxy statement that Clean Earth intends to file with the SEC. You may obtain free copies of these documents as described above.
Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Alternus’ growth, prospects and the market for solar parks and other renewable power sources. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management teams of Alternus and Clean Earth and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alternus and Clean Earth.
These forward-looking statements are subject to a number of risks and uncertainties, including: the impact of reduction, modification or elimination of government subsidies and economic incentives (including, but not limited to, with respect to solar parks); the impact of decreases in spot market prices for electricity; dependence on acquisitions for growth in Alternus’ business; inherent risks relating to acquisitions and Alternus’ ability to manage its growth and changing business; risks relating to developing and managing renewable solar projects; risks relating to PV plant quality and performance; risks relating to planning permissions for solar parks and government regulation; Alternus’ need for significant financial resources (including, but not limited to, for growth in its business); the need for financing in order to maintain future profitability; the lack of any assurance or guarantee that Alternus can raise capital or meet its funding needs; Alternus’ limited operating history; risks relating to operating internationally, include currency risks and legal, compliance and execution risks of operating internationally; the potential inability of the parties to successfully or timely consummate the proposed business combination; the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination; the approval of the stockholders of Clean Earth is not obtained; the risk of failure to realize the anticipated benefits of the proposed business combination; the amount of redemption requests made by Clean Earth’s stockholders exceeds expectations or current market norms; the ability of Alternus or the combined company to obtain equity or other financing in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; the risk that the proposed business combination disrupts current plans and operations as a result of the announcement and consummation of the Transaction; costs related to the proposed business combination; the impact of the global COVID-19 pandemic; the effects of inflation and changes in interest rates; an economic slowdown, recession or contraction of the global economy; a financial or liquidity crisis; geopolitical factors, including, but not limited to, the Russian invasion of Ukraine; global supply chain concerns; the status of debt and equity markets (including, market volatility and uncertainty); and other risks and uncertainties, including those risks to be included under the heading “Risk Factors” in the proxy statement to be filed by Clean Earth with the SEC and also those included under the heading “Risk Factors” in Clean Earth’s final prospectus relating to its initial public offering dated February 23, 2022 and Clean Earth’s other filings with the SEC.
If any of these risks materialize or Clean Earth’s and Alternus’ assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Clean Earth nor Alternus presently know, or that neither Clean Earth nor Alternus currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Clean Earth’s and Alternus Energy’s expectations, plans or forecasts of future events and views as of the date of this press release. Clean Earth and Alternus Energy anticipate that subsequent events and developments will cause Clean Earth’s and Alternus Energy’s assessments to change. However, while Clean Earth and Alternus Energy may elect to update these forward-looking statements at some point in the future, Clean Earth and Alternus Energy specifically disclaim any obligation to do so. Neither Clean Earth nor Alternus anticipate that subsequent events and developments will cause Clean Earth’s and Alternus’ assessments to change. However, while Clean Earth and Alternus may elect to update these forward-looking statements at some point in the future, Clean Earth and Alternus specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Clean Earth’s or Alternus’ assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Additional Information About the Proposed Business Combination and Where to Find It
In connection with the Proposed Business Combination, Clean Earth intends to file relevant materials with the with the SEC, including a proxy statement. Clean Earth urges its investors, shareholders and other interested persons to read, when available, the proxy statement filed with the SEC and documents incorporated by reference therein because these documents will contain important information about Clean Earth, Alternus Energy and the Proposed Business Combination. The final proxy statement a proxy card and other relevant documents will be mailed to the shareholders of Clean Earth as of the record date established for voting on the Proposed Business Combination and will contain important information about the Proposed Business Combination and related matters. Shareholders of Clean Earth and other interested persons are advised to read, when available, these materials (including any amendments or supplements thereto) and any other relevant documents in connection with Clean Earth’s solicitation of proxies for the meeting of shareholders to be held to approve, among other things, the Proposed Business Combination because they will contain important information about Clean Earth, Alternus Energy and the Proposed Business Combination. Shareholders will also be able to obtain copies of the preliminary proxy statement, the final proxy statement and other relevant materials in connection with the transaction without charge, once available, at the SEC’s website at www.sec.gov or by directing a request to: Clean Earth Acquisition Corp., Attention: Martha Ross, CFO & COO, telephone: (800) 508-1531. The information contained on, or that may be accessed through, the websites referenced in this Press release is not incorporated by reference into, and is not a part of, this press release.
Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.
Alternus Energy Investor Contact:
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Tel:+1-913-815-1557
Clean Earth Investor Contact:
Matthew Devereaux
Clean Earth Acquisitions Corp.
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Tel: +1-800-508-1531
MZ Group:
Chris Tyson
Executive Vice President
MZ North America
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Tel: +1-949-491-8235
BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Senior Vice President of Business Transformation Whitney Kellett received the Philadelphia CIO of the Year® ORBIE® Award from the Philly CIO Leadership Association, which recognizes executives who have demonstrated excellence in technology leadership.
Kellett, who was a finalist for the CIO of the Year ORBIE Award each year since 2018, is responsible for Essential’s technology strategies, decisions, policies and procedures as well as information security strategy, including all cyber security, customer protection and risk management programs. In August 2022, Kellett was appointed to lead the company’s $143 million service improvement project, with a focus on building feature-rich and secure platforms on both the administrative and operations sides of the business.
“Whitney is a strategic leader who has a longstanding history of leading transformational IT projects that successfully result in increased efficiency, enhanced integration and system improvements,” said Essential Utilities Chairman and CEO Christopher Franklin. “Sound IT infrastructure and security is as important as our operations infrastructure, and Whitney excels in her accountability. We are proud of all that she and her team have accomplished and continue to advance across the enterprise.”
Kellett, who joined Essential Utilities in 2016, is a veteran IT executive who specializes in strategic planning and execution. She has held technology positions in a variety of industries including financial services, global transportation, manufacturing, clinical research, commercial real estate, insurance, private equity, energy and utilities. Kellett earned her B.A. in economics at the University of Virginia. She is currently pursuing an Executive MBA at Villanova University with an anticipated May 2023 graduation. Essential announced in August that Kellett will also assume the role of chief administrative officer following the planned retirement of Sue Haindl, who currently holds the position, in 2023.
In addition to her exemplary career, Kellett is an active community member and a vocal proponent of women pursuing careers in technical fields. She has spoken at a number of technology conferences including the 2022 SAP for Utilities Conference, ARI Women in Technology Conference, the Villanova University Women in Technology Conference, the Villanova University MBA Program, the Society for Information Management Philadelphia CIO Conference and the National Association of Water Companies Southeast Infrastructure Summit. She is also a member of the Forum of Executive Women and a mentor to women in technology.
“This award is meaningful to receive on multiple levels. It is a true testament to the team of IT professionals at Essential that I am privileged to work alongside. There is no me in IT and this award represents all the collective successes our IT team has had over the years. I could not have received this without them.” Kellett said. “I am also an advocate for women in technology. I hope this type of recognition will encourage women to consider opportunities in technology and other STEM industries.”
About Essential
Essential is one of the largest publicly traded water, wastewater service and natural gas providers in the U.S., serving approximately 5.5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
WTRGG
Sarah Courtright
Communications and Marketing
Media Hotline: 1.877.325.3477
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BETHESDA, Md.--(BUSINESS WIRE)--Enviva Inc. (NYSE: EVA) (“Enviva,” “we,” “us,” the “Company,” or “our”), the world’s leading producer of sustainably sourced wood biomass, today issued the following statement in response to allegations made in a report by a self-proclaimed short seller.
The report contains numerous errors, repeats previous unsupported speculation and gross mischaracterizations, and draws specious, misleading conclusions. The short position on the Company increased substantially in the weeks leading up to the distribution of the spurious report, with almost 4 million shares currently shorted. While the Company acknowledges the role of short selling in creating balance in the public markets, it strongly condemns the unscrupulous practice of “short and distort” campaigns in which short sellers intentionally publish false and misleading claims to needlessly alarm investors and manipulate the market for their own profit.
Enviva remains steadfast in its continued and unwavering commitment to maintaining the highest standards of corporate governance, integrity, sustainability, forest stewardship, and continuous improvement. Additionally, Enviva recently updated full-year 2022 financial guidance, which included leverage expectations and the reaffirmation of dividend expectations, in an October 3, 2022 press release, demonstrating the Company’s continued expectation of generating strong, durable, and growing cash flows. As stated in that press release, as Enviva looks forward to 2023 and 2024, it continues to be very well-positioned for robust cash-flow growth, even in an environment with potential recessionary pressures.
Tracts in the working forest landscape of the U.S. South are harvested for many forest-related products, including telephone poles, dimensional lumber, manufactured wood products, furniture, paper products, and packaging materials. As the Company has explained before, Enviva augments the productivity of these working forests by purchasing residuals from the harvest and turning them into a renewable energy feedstock that replaces fossil fuels in electricity generation, heat generation, and other hard-to-abate sectors such as sustainable aviation fuel. When companies like Enviva are not present to purchase these residuals, the material most often is left on the tract to decay or is intentionally burned. As the Company has further explained before, notwithstanding select instances where we take an above-average percentage of a stand to support forest health, among other reasons, forests in the U.S. South are neither grown nor harvested for wood pellet production.
Harvesting does not equate to deforestation. In fact, the sustainable forestry and harvesting practices employed in the U.S. South are a significant contributor to healthy, stable forests. According to the U.S. Forest Service, the U.S. forest area has been stable for over 100 years, despite the U.S. population more than tripling during that timeframe, and the overall area of forests in the U.S. South has been expanding since the early 1980s. Specific to Enviva, the forest inventory of standing timber in our catchment area has increased by 21% since we began operations.
About Enviva
Enviva is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its eleventh plant, in Epes, Alabama. The Epes plant is projected to add 1.1 million MTPY — approximately an 18% increase — to Enviva’s production capacity, and is expected to be the world’s largest wood pellet production plant once constructed. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith 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 of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding Enviva’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” 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, Enviva disclaims any duty to revise or 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. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva. These risks include, but are not limited to: (i) the volume and quality of products that we are able to produce or source and sell, which could be adversely affected by, among other things, operating or technical difficulties at our wood pellet production plants or deep-water marine terminals; (ii) the prices at which we are able to sell our products; (iii) our ability to successfully negotiate, complete, and integrate acquisitions, including the associated contracts, or to realize the anticipated benefits of such acquisitions; (iv) failure of our customers, vendors, and shipping partners to pay or perform their contractual obligations to us; (v) our inability to successfully execute our project development, capacity, expansion, and new facility construction activities on time and within budget; (vi) the creditworthiness of our contract counterparties; (vii) the amount of low-cost wood fiber that we are able to procure and process, which could be adversely affected by, among other things, disruptions in supply or operating or financial difficulties suffered by our suppliers; (viii) changes in the price and availability of natural gas, coal, or other sources of energy; (ix) changes in prevailing economic and market conditions; (x) inclement or hazardous environmental conditions, including extreme precipitation, temperatures, and flooding; (xi) fires, explosions, or other accidents; (xii) changes in domestic and foreign laws and regulations (or the interpretation thereof) related to renewable or low-carbon energy, the forestry products industry, the international shipping industry, or power, heat, or combined heat and power generators; (xiii) changes in domestic and foreign tax laws and regulations affecting the taxation of our business and investors; (xiv) changes in the regulatory treatment of biomass in core and emerging markets; (xv) our inability to acquire or maintain necessary permits or rights for our production, transportation, or terminaling operations; (xvi) changes in the price and availability of transportation; (xvii) changes in foreign currency exchange or interest rates, and the failure of our hedging arrangements to effectively reduce our exposure to related risks; (xviii) risks related to our indebtedness, including the levels and maturity date of such indebtedness; (xix) our failure to maintain effective quality control systems at our wood pellet production plants and deep-water marine terminals, which could lead to the rejection of our products by our customers; (xx) changes in the quality specifications for our products that are required by our customers; (xxi) labor disputes, unionization, or similar collective actions; (xxii) our inability to hire, train, or retain qualified personnel to manage and operate our business and newly acquired assets; (xxiii) the possibility of cyber and malware attacks; (xxiv) our inability to borrow funds and access capital markets; (xxv) viral contagions or pandemic diseases, such as COVID-19; and (xxvi) overall domestic and global political and economic conditions, including the imposition of tariffs or trade or other economic sanctions, political instability or armed conflict, including the ongoing conflict in Ukraine, rising inflation levels and government efforts to reduce inflation, or a prolonged recession.
Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Enviva’s expectations and projections can be found in Enviva’s periodic filings with the SEC. Enviva’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
INVESTOR CONTACT:
Kate Walsh
Vice President, Investor Relations
+1 240-482-3856
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EIA Winter Fuels Outlook Shows New Price Burden for Older Americans, After 1 Million Fell Into Poverty in Last Year
WASHINGTON--(BUSINESS WIRE)--#energyconsumers--Consumer Energy Alliance (CEA), the leading energy and environmental advocate for families and businesses, today issued an analysis, “Bad Energy Policies Freezing Out Consumers and Their Wallets”, showing that Americans can expect to pay $14.1 billion more for winter heating bills this year.
It incorporates new data from the Energy Information Administration’s Winter Fuels Outlook released on Wednesday.
“This government forecast spells out an even bigger financial burden for many American families and small businesses across the country,” said CEA President David Holt. “It’s just the topper on a year where bad policy decisions have helped drive gasoline prices to the highest level in seven years, and hostility toward domestic oil and gas production has left us, once again, exposed to the whims of OPEC+ nations. According to new federal projections, Americans living in poverty and on fixed incomes in colder climates will suffer this winter as a result.”
By enacting a moratorium on oil and gas development on federal lands, cancelling future federal lease sales, blocking pipelines and restricting energy infrastructure development, the strategic advantage the United States enjoyed after becoming the world’s largest oil and natural gas producer two years ago has all but faded.
“The danger of these kind of policies is evident in Europe, where people are stealing each other’s wood pellets and even burning garbage to keep warm because of their dependence on Russia and degradation of their own energy production and sources,” said CEA Midwest Executive Director Chris Ventura. “No American should accept this kind of risk. The U.S. is the world’s largest producer of oil and gas and no one should be freezing in the winter, nor forced to make the choice between heating or feeding their family. While we grow wind and solar, the energy those renewable sources provide is not enough to meet basic demand.”
Senior citizens are among the most at risk, after a million older Americans fell into poverty last year. The EIA’s base case estimates that Americans, on average, this winter will pay:
About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers, and manufacturers to support America’s environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic, and environmentally responsible solutions to meet our nation’s energy needs.
Bryson Hull
(202) 657-2855
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DALLAS--(BUSINESS WIRE)--Spring Valley Acquisition Corp. II (the “Company”), a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units will be listed on The Nasdaq Stock Market LLC (“Nasdaq”) and trade under the ticker symbol “SVIIU” beginning October 13, 2022.
Each unit consists of one Class A ordinary share of the Company, one right to receive one-tenth of one Class A ordinary share of the Company and one-half of one redeemable public warrant. Each whole warrant entitles the holder thereof to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares, rights and warrants are expected to be listed on the Nasdaq under the symbols “SVII,” “SVIIR” and “SVIIW,” respectively. The offering is expected to close on October 17, 2022, subject to customary closing conditions.
While the Company may pursue an initial business combination target in any business or industry, the Company intends to target companies in the sustainability industry, including renewable energy, resource optimization, environmental services, and grid infrastructure, which complement the backgrounds of the Company’s management team. The Company is led by its Chief Executive Officer, Chris Sorrells, and Chief Financial Officer, Rob Kaplan. The Company’s primary sponsor is an affiliate of Pearl Energy Investment Management, LLC (“Pearl”), an investment firm that focuses on partnering with experienced management teams to invest in the North American energy and sustainability sectors. Pearl typically targets opportunities requiring $25 million to $150 million of equity capital.
Citigroup Global Markets Inc. and Guggenheim Securities, LLC acted as joint book-running managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146, or Guggenheim Securities, LLC, c/o Guggenheim Securities, LLC, 330 Madison Avenue, New York, New York 10017, or by accessing the Securities and Exchange Commission’s (“SEC”) website, www.sec.gov.
A registration statement relating to the securities became effective on October 12, 2022 in accordance with Section 8(a) of the Securities Act of 1933, as amended. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the closing of the proposed initial public offering and the anticipated use of the net proceeds from the offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement for the offering filed with the SEC and the preliminary prospectus included therein. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Spring Valley Acquisition Corp. II
www.sv-ac.com
Robert Kaplan
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IRVING, Texas--(BUSINESS WIRE)--CF Industries, a leading global manufacturer of hydrogen and nitrogen products, has entered into the largest-of-its-kind commercial agreement with ExxonMobil to capture and permanently store up to 2 million metric tons of CO2 emissions annually from its manufacturing complex in Louisiana. Start-up for the project is scheduled for early 2025 and supports Louisiana’s objective of net zero CO2 emissions by 2050.
As previously announced, CF Industries is investing $200 million to build a CO2 dehydration and compression unit at its Donaldsonville, Louisiana, facility to enable captured CO2 to be transported and stored. ExxonMobil will then transport and permanently store the captured CO2 in secure geologic storage it owns in Vermilion Parish. As part of the project, ExxonMobil has signed an agreement with EnLink Midstream to use EnLink’s transportation network to deliver CO2 to permanent geologic storage. The 2 million metric tons of emissions captured annually will be equivalent to replacing approximately 700,000 gasoline-powered cars with electric vehicles.
“CF Industries is pleased to partner with ExxonMobil through this definitive CO2 offtake agreement, accelerating our decarbonization journey and supporting Louisiana’s and the country’s climate goals,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “This agreement also ensures that we remain at the forefront of the developing clean energy economy. As we leverage proven carbon capture and sequestration technology, CF Industries will be first-to-market with a significant volume of blue ammonia. This will enable us to supply this low-carbon energy source to hard-to-abate industries that increasingly view it as critical to their own decarbonization goals.”
“This landmark project represents large-scale, real-world progress on the journey to decarbonize the global economy,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “ExxonMobil is providing a critical and scalable solution to reduce CO2 emissions, and we’re ready to offer the same service to other large industrial customers in the state of Louisiana and around the world. We’re encouraged by the momentum we see building for projects of this kind, thanks to supportive policies such as the Inflation Reduction Act.”
“EnLink has a system of over 4,000 miles of pipeline already in the ground in Louisiana,” said Jesse Arenivas, Chief Executive Officer of EnLink. “Utilizing this extensive network enables us to provide the most timely and cost-effective solution to CO2 transportation, with a significantly lower environmental impact. Because of this, EnLink is uniquely positioned to be the CO2 transportation provider of choice in Louisiana's Mississippi River corridor, which is a hub of industrial activity that is important to our economy. We look forward to working with ExxonMobil to help CF Industries and the State of Louisiana reach their decarbonization goals.”
“Today’s announcement of this unprecedented, large-scale, low-carbon partnership is a key milepost on Louisiana’s path toward a brighter future for our climate, our economy and our people,” said Louisiana Gov. John Bel Edwards. “The collaboration and innovation to bring carbon capture and storage technology forward at this scale reaffirms our state’s ability to grow our economy without sacrificing our long-term emission-reduction goals to net zero by 2050.”
CF Industries expects to market up to 1.7 million metric tons of blue ammonia annually. A chemical process is considered “blue” when CO2 emissions are captured before their release into the air, making the process more carbon-neutral. Demand for blue ammonia is expected to grow significantly as a decarbonized energy source for hard-to-abate industries, both for its hydrogen content and as a fuel itself, because ammonia’s components – nitrogen and hydrogen – do not emit carbon when combusted.
ExxonMobil Low Carbon Solutions is working to bring lower-emission technologies to market, making them accessible to hard-to-decarbonize industries in the United States and internationally. It is focusing its carbon capture and storage efforts on point-source emissions, the process of capturing CO2 from industrial activity that would otherwise be released into the atmosphere. Once captured, the CO2 is injected into deep, underground geologic formations for safe, secure and permanent storage. In the United States, these storage efforts are regulated by state and federal agencies.
Carbon capture and storage is a safe, proven technology that can enable some of the highest-emitting sectors to meaningfully reduce their emissions. These industries include manufacturing, power generation, refining, petrochemical, steel, and cement operations. With effective government policies in place, broad deployment of commercial-scale carbon capture and storage projects could create a new industry, resulting in job creation and economic growth.
About CF Industries
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
About EnLink Midstream
EnLink Midstream reliably operates a differentiated midstream platform that is built for long-term, sustainable value creation. EnLink's best-in-class services span the midstream value chain, providing natural gas, crude oil, condensate, NGL capabilities, and carbon capture, transportation, and sequestration. Our purposely built, integrated asset platforms are in premier production basins and core demand centers, including the Permian Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink's strong financial foundation and commitment to execution excellence drive competitive returns and value for our employees, customers, and investors. Headquartered in Dallas, EnLink is publicly traded through EnLink Midstream, LLC. Visit www.enlink.com to learn how EnLink connects energy to life.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement: Statements of future events, investments, or partnerships in this release are forward-looking statements. Actual future results, including project plans, partner participation, timing, capacities, and costs could vary depending on the ability to execute operational objectives on a timely and successful basis; implementation of government frameworks and permitting for carbon capture and storage and other lower-emission technologies; timely completion of construction projects; commercial and consumer interest in lower-emissions opportunities; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; and other market factors including changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products as well as ammonia and hydrogen products; and other factors discussed in this release and in Item 1A. Any forward-looking statement speaks only as of the date of this press release and the companies named herein disclaim any obligation to update any forward-looking statement. Risk Factors of ExxonMobil’s Annual Report on Form 10-K and under the heading “Factors Affecting Future Results” available through the Investors page of ExxonMobil’s website at exxonmobil.com.
More detailed information about factors that may affect CF Industries Holdings, Inc.’s performance and could cause actual results to differ materially from those in any forward-looking statements may be found in CF Industries Holdings, Inc.’s filings with the Securities and Exchange Commission, including CF Industries Holdings, Inc.’s most recent annual and quarterly reports on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the Company’s web site.
An extensive list of factors that can affect EnLink's business are discussed in EnLink's filings with the Securities and Exchange Commission, including EnLink's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, all of which are available on the Investor page of EnLink’s website. EnLink does not assume any obligation to update any forward-looking statements.
ExxonMobil Media Relations
(972) 940-6007
CF Industries Media Relations
(847) 405-2400
EnLink Media Relations
(214) 721-9694
HAMBURG, Germany & BERLIN--(BUSINESS WIRE)--The international research project CARE-O-SENE (Catalyst Research for Sustainable Kerosene) was granted 30 million euros in funding by the German Federal Ministry of Education and Research (BMBF). Additionally, the industrial consortium partners contribute 10 million euros. The aim of the project is to develop novel, next-generation Fischer-Tropsch catalysts and thus to optimise the production of sustainable kerosene – or Sustainable Aviation Fuel (SAF) – on an industrial scale.
Sustainable kerosene is not based on fossil-based raw materials like conventional kerosene but on green hydrogen and carbon dioxide. The technology contributes significantly to sustainably decarbonising sectors such as aviation, since fossil fuels are particularly difficult to replace in this area.
Research partners for the next generation of Fischer-Tropsch catalysts in CARE-O-SENE include Sasol Germany GmbH, Sasol Limited and the Helmholtz‐Zentrum Berlin fuer Materialien und Energie (Helmholtz Centre for Materials and Energy, HZB). Others are the Fraunhofer Institute for Ceramic Technologies and Systems (IKTS), the Karlsruhe Institute of Technology (KIT), The University of Cape Town (UCT) and INERATEC GmbH.
Dr Dirk Schaer, Lead Technical Marketing Catalyst at Sasol says: “Our work is an important building block of the German National Hydrogen Strategy. We are delighted that the BMBF has recognised the enormous potential in the CARE-O-SENE research project on the novel Fischer-Tropsch catalysts and supports the work.”
“We are absolutely delighted about the start of CARE-O-SENE,” adds Dr Tobias Sontheimer, Head of Strategy - Energy and Information at HZB. “The fact that each partner can contribute dedicated expertise in catalysis research and work so closely with successful companies on technological implementation makes the project very special.”
German Chancellor Olaf Scholz and the South African President Cyril Ramaphosa gave the go-ahead for the CARE-O-SENE project at a ceremony at Sasol’s headquarters in Johannesburg in May this year. Now that the positive funding decision has been taken, the research work can begin.
About Sasol:
Sasol Germany GmbH is a manufacturer of high-quality chemical products with production sites in Brunsbuettel and Marl and its head office in Hamburg. Around 1,700 employees and almost 60 trainees produce innovative, sustainable products and develop solutions for the processing industry. The company offers a wide range of products, including substances for the production of detergents and cleaning agents, paints and coatings, cosmetics and pharmaceutical products. In addition, specialities such as high-purity and ultra-high-purity aluminas are used, for example, as catalyst carriers in catalytic converters for the automotive industry, industrial applications and high-performance abrasives.
Sasol Germany GmbH is part of the South African Sasol Group, a leading integrated chemical and energy company with almost 28,000 employees in 22 countries manufacturing and marketing first-class products. The Sasol Group includes the business divisions of Sasol Chemicals, Sasol Energy and Sasol ecoFT. The Sasol ecoFT division, newly founded in 2021, uses both Sasol's protected technology as well as expertise and experience to manufacture sustainable fuels and chemicals made of green hydrogen and sustainable carbon sources via the power-to-liquids process (PtL).
About HZB:
The Helmholtz-Zentrum Berlin für Materialien und Energie (HZB) is researching solutions for a climate-neutral society. Researchers are developing and optimising efficient and cost-effective energy materials for photovoltaic cells, batteries and catalysts. The HZB uses a research infrastructure with the accelerator-based x-ray source BESSY II which enables unique insights into materials and permits operando analyses. With around 1,200 employees, HZB is one of the largest non-academic research centres in Berlin in the field of energy research and is member of the Helmholtz Association. More information: www.helmholtz-berlin.de
Sasol
Sunna Schulz, Senior Manager Corporate Affairs Eurasia Chemicals
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Helmholtz-Zentrum Berlin für Materialien und Energie
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IRVING, Texas--(BUSINESS WIRE)--CF Industries, a leading global manufacturer of hydrogen and nitrogen products, has entered into the largest-of-its-kind commercial agreement with ExxonMobil to capture and permanently store up to 2 million metric tons of CO2 emissions annually from its manufacturing complex in Louisiana. Start-up for the project is scheduled for early 2025 and supports Louisiana’s objective of net zero CO2 emissions by 2050.
As previously announced, CF Industries is investing $200 million to build a CO2 dehydration and compression unit at its Donaldsonville, Louisiana, facility to enable captured CO2 to be transported and stored. ExxonMobil will then transport and permanently store the captured CO2 in secure geologic storage it owns in Vermilion Parish. As part of the project, ExxonMobil has signed an agreement with EnLink Midstream to use EnLink’s transportation network to deliver CO2 to permanent geologic storage. The 2 million metric tons of emissions captured annually will be equivalent to replacing approximately 700,000 gasoline-powered cars with electric vehicles.
“CF Industries is pleased to partner with ExxonMobil through this definitive CO2 offtake agreement, accelerating our decarbonization journey and supporting Louisiana’s and the country’s climate goals,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “This agreement also ensures that we remain at the forefront of the developing clean energy economy. As we leverage proven carbon capture and sequestration technology, CF Industries will be first-to-market with a significant volume of blue ammonia. This will enable us to supply this low-carbon energy source to hard-to-abate industries that increasingly view it as critical to their own decarbonization goals.”
“This landmark project represents large-scale, real-world progress on the journey to decarbonize the global economy,” said Dan Ammann, president of ExxonMobil Low Carbon Solutions. “ExxonMobil is providing a critical and scalable solution to reduce CO2 emissions, and we’re ready to offer the same service to other large industrial customers in the state of Louisiana and around the world. We’re encouraged by the momentum we see building for projects of this kind, thanks to supportive policies such as the Inflation Reduction Act.”
“EnLink has a system of over 4,000 miles of pipeline already in the ground in Louisiana,” said Jesse Arenivas, Chief Executive Officer of EnLink. “Utilizing this extensive network enables us to provide the most timely and cost-effective solution to CO2 transportation, with a significantly lower environmental impact. Because of this, EnLink is uniquely positioned to be the CO2 transportation provider of choice in Louisiana's Mississippi River corridor, which is a hub of industrial activity that is important to our economy. We look forward to working with ExxonMobil to help CF Industries and the State of Louisiana reach their decarbonization goals.”
“Today’s announcement of this unprecedented, large-scale, low-carbon partnership is a key milepost on Louisiana’s path toward a brighter future for our climate, our economy and our people,” said Louisiana Gov. John Bel Edwards. “The collaboration and innovation to bring carbon capture and storage technology forward at this scale reaffirms our state’s ability to grow our economy without sacrificing our long-term emission-reduction goals to net zero by 2050.”
CF Industries expects to market up to 1.7 million metric tons of blue ammonia annually. A chemical process is considered “blue” when CO2 emissions are captured before their release into the air, making the process more carbon-neutral. Demand for blue ammonia is expected to grow significantly as a decarbonized energy source for hard-to-abate industries, both for its hydrogen content and as a fuel itself, because ammonia’s components – nitrogen and hydrogen – do not emit carbon when combusted.
ExxonMobil Low Carbon Solutions is working to bring lower-emission technologies to market, making them accessible to hard-to-decarbonize industries in the United States and internationally. It is focusing its carbon capture and storage efforts on point-source emissions, the process of capturing CO2 from industrial activity that would otherwise be released into the atmosphere. Once captured, the CO2 is injected into deep, underground geologic formations for safe, secure and permanent storage. In the United States, these storage efforts are regulated by state and federal agencies.
Carbon capture and storage is a safe, proven technology that can enable some of the highest-emitting sectors to meaningfully reduce their emissions. These industries include manufacturing, power generation, refining, petrochemical, steel, and cement operations. With effective government policies in place, broad deployment of commercial-scale carbon capture and storage projects could create a new industry, resulting in job creation and economic growth.
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About CF Industries
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
About EnLink Midstream
EnLink Midstream reliably operates a differentiated midstream platform that is built for long-term, sustainable value creation. EnLink's best-in-class services span the midstream value chain, providing natural gas, crude oil, condensate, NGL capabilities, and carbon capture, transportation, and sequestration. Our purposely built, integrated asset platforms are in premier production basins and core demand centers, including the Permian Basin, Oklahoma, North Texas, and the Gulf Coast. EnLink's strong financial foundation and commitment to execution excellence drive competitive returns and value for our employees, customers, and investors. Headquartered in Dallas, EnLink is publicly traded through EnLink Midstream, LLC. Visit www.enlink.com to learn how EnLink connects energy to life.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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Cautionary Statement: Statements of future events, investments, or partnerships in this release are forward-looking statements. Actual future results, including project plans, partner participation, timing, capacities, and costs could vary depending on the ability to execute operational objectives on a timely and successful basis; implementation of government frameworks and permitting for carbon capture and storage and other lower-emission technologies; timely completion of construction projects; commercial and consumer interest in lower-emissions opportunities; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; and other market factors including changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products as well as ammonia and hydrogen products; and other factors discussed in this release and in Item 1A. Any forward-looking statement speaks only as of the date of this press release and the companies named herein disclaim any obligation to update any forward-looking statement. Risk Factors of ExxonMobil’s Annual Report on Form 10-K and under the heading “Factors Affecting Future Results” available through the Investors page of ExxonMobil’s website at exxonmobil.com.
More detailed information about factors that may affect CF Industries Holdings, Inc.’s performance and could cause actual results to differ materially from those in any forward-looking statements may be found in CF Industries Holdings, Inc.’s filings with the Securities and Exchange Commission, including CF Industries Holdings, Inc.’s most recent annual and quarterly reports on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the Company’s web site.
An extensive list of factors that can affect EnLink's business are discussed in EnLink's filings with the Securities and Exchange Commission, including EnLink's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, all of which are available on the Investor page of EnLink’s website. EnLink does not assume any obligation to update any forward-looking statements.
ExxonMobil Media Relations
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CF Industries Media Relations
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EnLink Media Relations
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DUBLIN--(BUSINESS WIRE)--The "Germany Biopower Market Size and Trends by Installed Capacity, Generation and Technology, Regulations, Power Plants, Key Players and Forecast, 2022-2035" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information and understanding of the biopower market in Germany. The report discusses the renewable power market in the country and provides forecasts up to 2035.
The report highlights installed capacity and power generation trends from 2010 to 2035 in the country's biopower market. A detailed coverage of renewable energy policy framework governing the market is provided in the report.
The report also provides company snapshots of some of the major market participants.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
1.1 Carbon Dioxide Emissions, Global, 2001-2021
1.2 Primary Energy Consumption, Global, 2001-2021
1.3 Report Guidance
2. Renewable Power Market, Germany
2.1 Renewable Power Market, Germany, Installed Capacity, 2010-2035
2.2 Renewable Power Market, Germany, Power Generation, 2010-2035
3. Biopower Market, Germany
3.1 Biopower Market, Germany, Installed Capacity, 2010-2035
3.2 Biopower Market, Germany, Power Generation, 2010-2035
3.3 Biopower Market, Germany, Market Size, 2010-2030
3.4 Biopower Market, Germany, Power Plants
3.5 Biopower Market, Germany, Deal Analysis, 2021
4. Renewable Energy Policy Framework, Germany
4.1 Renewable Energy Market, Overview
4.2 Renewable Energy Targets
4.3 National Energy and Climate Plan (NECP) (2021-2030)
4.4 German Coalition Green Energy Plans
4.5 National Hydrogen Strategy
4.6 Renewable Energy Source Act (EEG)
4.7 Renewable Energy Auctions (2020)
4.8 Omnibus Energy Act
4.9 Nuclear Phase Out by 2022
4.10 New Combined Heat and Power (CHP) Act, 2016
4.11 Offshore Grid Development Plan 2030 (2017/2019)
4.12 Tenants' Solar Power Supply
5. Biopower Market, Germany, Company Profiles
5.1 Uniper SE
5.2 MVV Energie AG
5.3 Entega AG
5.4 EnBW Energie Baden-Wurttemberg AG
5.5 E.ON SE
6. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/r30587
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DEERFIELD, Ill.--(BUSINESS WIRE)--CF Industries Holdings, Inc. (NYSE: CF) today reported that its board of directors has declared a $0.40 per share dividend on its common stock. The dividend will be payable on November 30, 2022, to stockholders of record as of November 15, 2022.
Additionally, the Company announced that it will report its first half and second quarter 2022 results after the market close on Wednesday, November 2, 2022. The company plans to host a conference call to discuss these results at 10:00 a.m. ET on Thursday, November 3, 2022.
Investors can access the call by dialing 833-634-5017 (toll-free) or 412-902-4213 (international) and ask to be joined into the CF Industries call. The conference call also will be available live on the Company’s website at www.cfindustries.com. Participants also may pre-register for the webcast on the Company’s website. Please log-in or dial-in at least 10 minutes prior to the start time to ensure a connection. A replay of the webcast will be available through the company’s website at www.cfindustries.com.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the company’s website at www.cfindustries.com and encourages those interested in the company to check there frequently.
Media
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Martin Jarosick
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DUBLIN--(BUSINESS WIRE)--The "India High-Capacity Inverter Market Size and Share Analysis by Wave, Phase, Operational Mode, Sales Channel, End-use, Application - Industry Development and Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The size of the Indian non-solar high-capacity inverter market was over $391 million in the year 2021, and it will reach more than $760 million by 2030, advancing at a growth rate of 7.7%.
This is credited to the snowballing requirement for power backup solutions in industrial, commercial, and residential areas, accompanied by the increasing need for inverters in the tier II and tier III cities of the country.
Furthermore, the Indian solar high-capacity inverter market will reach $1,199 million by 2030 from $426 million in 2021, at a growth rate of above 12% in the coming years. This is because of the rise in the use of solar power for numerous applications, accompanied by several government initiatives for endorsing renewable power sources. Additionally, the nation has an unlimited supply of solar energy because of its location in the tropical and subtropical zones.
Single-phase non-solar inverters generated $266 million Indian solar high-capacity inverter market revenue in 2021, and the sales value will reach a little under $534 million by 2030. This is will be a result of their low price and easier fitting as opposed to three-phase inverters.
Single-phase non-solar inverters with a 2kVA−4.9kVA capacity are popular because of their low costs and a wide variety of residential purposes. Though, the requirement for 5kVA−10kVA variants will experience a substantial growth rate, of about 9%, during 2021-2030, because of their wide usage in commercial and industrial setups, which have a greater power requirement.
Solar high-capacity inverters are mainly used in the utility & power sector, which contributed about 92% of the revenue to the market in 2021. Additionally, this category will have a growth rate of more than 12%, as these inverters are used vastly in solar plants to store the excess solar power and supply it to the grid when the demand increases.
Karnataka has introduced the Arunodaya Programme, under which a 14MW solar PV plant was constructed. Consequently, in the year 2021, 20% of Karnataka's everyday power requirements were satisfied by solar energy. Furthermore, the state has the largest capacity of solar power in the nation, of 7,346 MW, with the largest PV installation in Pavagada, Tumakuru district.
Tamil Nadu is the largest market for non-solar high-capacity inverters in the country, accounting for an over 14% share of revenue in 2021. This is because of the existence of the largest wind farm in Kanyakumari, delivering a 1,500MW power supply; in all, the state has approximately 3,000 wind turbines.
Likewise, Tamil Nadu has a high potential for small windmills, as the area is favorable for wind energy and the government has framed promising policies for small windmills. These factors drive the Indian non-solar high-capacity inverter market growth by encouraging players to target customers here.
Market Dynamics
Trends
Drivers
Restraints
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/j13bs0
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Improvements are expected to save the District more than $70 million in net electricity costs over the next 25 years.
CHULA VISTA, Calif. & HOUSTON--(BUSINESS WIRE)--#NoEnergyToWaste--Chula Vista Elementary School District and ENGIE North America (ENGIE) today announced the completion of the District’s solar project. The District now has 8.1 megawatts of solar installed across 48 sites and is finalizing the installation of a microgrid system. The microgrid is located at the Education Service and Support Center and powered through solar and batteries to provide backup emergency power to the District’s IT department, additional servers, and the Child Nutrition freezer. The microgrid’s battery storage system will also provide electricity during the peak time period of 4:00 p.m. – 9:00 p.m. when electric rates are highest, saving the District from having to pull their electricity from SDG&E’s electrical grid during that time each day.
The solar installation includes 18,050 panels installed as shade structures at 46 schools, the Transportation Yard, and the Education Service and Support Center. The $32 million project was funded through a G.O. Bond and is expected to save the District more than $70 million in net electricity costs over the next 25 years.
“That is $70 million in savings even after project costs have been paid for,” said Oscar Esquivel, Deputy Superintendent. “By the end of this project, we think we will be able to generate about 90 percent of the District’s overall energy demands. That is a tremendous amount of energy—and savings for our District. This is a ‘green’ project both environmentally and fiscally.”
“We have a demonstrated commitment to strengthening environmental sustainability efforts that our community recognizes,” Esquivel said. “Our team has done an outstanding job of continually finding ways to increase energy efficiency and savings while doing our part to improve the environment. We want to model for our students the importance of energy awareness, conservation, and sustainability.”
“Our ENGIE North America team is proud to deliver customized solar and microgrid solutions to customers like Chula Vista Elementary School District,” said Stefaan Sercu, managing director Energy Solutions Americas at ENGIE. “In addition to this technology serving as a critical resource during potential power outages, the bigger picture impact of the District’s move toward sustainable energy ensures long-term financial savings and resiliency.”
About the Chula Vista Elementary School District
The Chula Vista Elementary School District is one of the state's largest traditional kindergarten through grade six districts. It serves a vibrant, diverse community with a blend of residential areas, recreational facilities, open space, and light industry. The District was established in 1892, and each year, over 28,000 students from 50 schools in the Chula Vista area are professionally taught by highly trained and dedicated district teachers. Our district’s shared value is the belief that each child is an individual of great worth and entitled to develop to their full potential. Please visit the Chula Vista Elementary School District’s website for more information at www.cvesd.org.
About ENGIE North America
Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a global leader in low-carbon energy and services. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. Together with our 101,500 employees around the globe, our customers, partners and stakeholders, we are committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. In North America, ENGIE helps our clients achieve their energy efficiency, reliability, and ultimately, their sustainability goals, as we work together to shape a sustainable future. We accomplish this through: energy efficiency projects, providing energy supply (including renewables and natural gas), and the development, construction and operation of renewable energy assets (wind, solar, storage and more). For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com.
Chula Vista Elementary School District
Giovanna R. Castro This email address is being protected from spambots. You need JavaScript enabled to view it. or 619-425-9600 Ext. 181328
ENGIE North America
Michael Clingan, Press Relations
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Sodium-ion battery technology is safer, longer lasting, and more powerful than lithium-ion
SANTA CLARA, Calif.--(BUSINESS WIRE)--Natron Energy, Inc., today announced the launch of the Blue Rack™ battery cabinet, available in both 250kW and 500kW configurations. The Blue Rack is the world’s first sodium-ion battery cabinet designed for mission-critical applications such as data centers, peak power-shaving, and other industrial power environments. Sodium-ion technology delivers tremendous power density with rapid discharge and recharge, is sustainably and ethically sourced, and is safe and completely nonflammable. The Blue Rack is powered by Natron’s new Blue Pack© battery.
“This is the longest-lasting, highest-power, and above all safest battery available for these applications,” said Robert Rogan, Chief Business Officer at Natron. “The sodium-ion technology in the Blue Rack outperforms lithium-ion and lead acid in every critical metric – especially safety.”
The Blue Rack can be configured to provide up to 500kW of backup power. Its sodium-ion technology can produce far greater maximum sustained power per energy (40W/Wh) compared to lithium-ion (10W) and lead acid (7W), and its cycle life is five times greater than lithium-ion and 50 times greater than lead acid. Sodium-ion recharges in five to 15 minutes, compared to an hour for lithium-ion and eight to 16 hours for lead acid.
Natron’s sodium-ion batteries are the safest industrial battery technology available. They are nonflammable, even when penetrated by a nail or exposed to flame. They suffer no damage or performance loss from short circuits or up to 35% overvoltage overcharge. They are the only UL-listed sodium-ion battery on the market and can be shipped fully charged by ground or air, unlike either lithium-ion or lead acid.
The Blue Pack battery’s breakthrough Prussian blue sodium-ion chemistry is sustainably and ethically sourced. Lithium mining, by contrast, has a long history of alleged human rights abuses. Prussian blue contains no rare-earth minerals, acid, or heavy metals, and Prussian blue is non-toxic, simplifying end-of-life removal.
The Blue Pack and Blue Rack battery cabinet are designed specifically for mission-critical applications, with features including:
The Blue Rack cabinet and Blue Pack battery establish a new standard for safe, sustainable data center power.
Natron will display this new battery at 7x24 Exchange in San Antonio, Texas, Oct. 23-26. Pre-orders will be accepted at Natron’s display at Booth #15. Pre-production units shipping in early 2023.
For more information about the Blue Rack and sodium-ion battery technology, visit natron.energy.
About Natron Energy
Natron Energy manufactures sodium-ion battery products based on a unique Prussian blue electrode chemistry for a wide variety of industrial power applications ranging from critical backup power systems to EV fast charging and behind-the-meter applications. Natron’s mission is to transform industrial and grid energy storage markets by providing customers with lower-cost, longer-lasting, more efficient, safer batteries. Natron’s products are UL 1973 listed, offer higher power density, faster recharge, and significantly longer cycle life than incumbent technologies. Natron builds its batteries using commodity materials on existing cell manufacturing lines in Michigan, USA. Learn more about Natron and its sodium-ion technology at natron.energy.
Susan Bruns
T: +1 208-472-0587
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