LONDON--(BUSINESS WIRE)--$EVTL--Vertical Aerospace (Vertical) [NYSE: EVTL], a global aerospace and technology company that is pioneering zero-emissions aviation, saw its VX4 eVTOL (electric vertical take-off and landing) aircraft take off from the ground for the very first time over the weekend.
It becomes the first British company to start flight tests with a new aircraft in over 20 years, with its full-scale, piloted prototype.
The moment marked a significant milestone as Vertical continues to progress successfully through its intensive flight test programme. The programme is expected to continue for several months, completing different stages which will involve reaching higher altitudes and speeds and demonstrating the transition from vertical to horizontal forward flight.
Engineers and flight technicians watched on as Chief Test Pilot, Justin Paines, took to the controls for the aircraft’s maiden take-off which saw the eight sets of aerodynamic propellers lift the aircraft from the ground at hover-thrust, while tethered to the ground for safety.
Vertical Aerospace Chief Test Pilot, Justin Paines said: “This test represented the culmination of many months preparation by a huge team and being at the controls of the VX4 for the first time was an honour and a proud moment for us all.”
The company, unlike many of its competitors, decided to conduct its first flight tests with a pilot on board to prove it could meet the most stringent safety standards. To do this, Vertical Aerospace received regulatory approval in the form of a ‘Permit to Fly’ from the Civil Aviation Authority (CAA), after demonstrating the test could be conducted safely.
The permit and the positive results of these early tests allow the teams at Vertical to progress confidently on their mission to certify the VX4 by 2025. It is hoped the aircraft will carry a pilot and four passengers and is expected to have a range of up to 100 miles with the ability to cruise at speeds of around 150 miles per hour, with a top speed of 200 miles per hour.
The company has already received more than 1,400 conditional pre-orders from some of the world’s leading airlines, operators, lessors and tourist groups including Virgin Atlantic, American Airlines, Japan Airlines and Air Asia and recently announced that American Airlines has conditionally committed to make a pre-payment for its first 50 deliveries of the VX4, a strong vote of confidence from the industry.
Stephen Fitzpatrick, Founder & CEO, Vertical, said “This moment represents a small step for Vertical Aerospace, but it's a giant leap forward for British aviation. For more than 100 years the UK has been a global leader in aviation and today, in the 21st century, Britain is leading the world in the development of zero carbon aircraft.”
Vertical’s test programme is also supported by the Aerospace Technology Institute, a UK government-industry programme designed to promote transformative technology in air transport
Notes to editors:
*Based on research from Aviation historians, it is believed this is the first British-made aircraft to be launched in the last 20 years.
About Vertical Aerospace
Vertical Aerospace is pioneering electric aviation. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy retailer. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, who have over 1,700 combined years of engineering experience, and have certified and supported over 30 different civil and military aircraft and propulsion systems.
Vertical’s top-tier partner ecosystem is expected to de-risk operational execution and its pathway to certification allows for a lean cost structure and enables production at scale. Vertical has a market-leading pre-order book by value for more than 1,400 aircraft from global customers creating multiple potential near term and actionable routes to market. Customers include American Airlines, Virgin Atlantic, Avolon, Bristow, Marubeni, Iberojet and FLYINGGROUP, as well as Japan Airlines (JAL), Gol, Air Greenland, Gozen Holding and AirAsia, through Avolon’s VX4 placements.
Vertical’s ordinary shares and warrants commenced trading on the NYSE in December 2021 under the tickers “EVTL” and “EVTLW,” respectively.
About the VX4 eVTOL Aircraft
The piloted zero operating emissions four-passenger VX4, is projected to be capable of travelling distances over 100 miles, achieving top speeds of up to 200mph, while producing minimal noise and has a low cost per passenger mile. The VX4 is expected to open up advanced air mobility to a whole new range of passengers and transform how we travel. Find out more: vertical-aerospace.com
Vertical Media Kit
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding the certification and the commercialization of the VX4 and related timelines, the differential strategy compared to its peer group, expectations surrounding pre-orders and commitments, the features and capabilities of the VX4, the transition towards a net-zero emissions economy, expected financial performance and operational performance for the fiscal year ending December 31, 2022, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate,” “will,” “aim,” “potential,” “continue,” “are likely to” and similar statements of a future or forward-looking nature. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: Vertical’s limited operating history without manufactured non-prototype aircraft or completed eVTOL aircraft customer order; Vertical’s history of losses and the expectation to incur significant expenses and continuing losses for the foreseeable future; the market for eVTOL aircraft being in a relatively early stage; the potential inability of Vertical to produce or launch aircraft in the volumes and on timelines projected; the potential inability of Vertical to obtain the necessary certifications on the timelines projected; any accidents or incidents involving eVTOL aircraft could harm Vertical’s business; Vertical’s dependence on partners and suppliers for the components in its aircraft and for operational needs; the potential that certain of Vertical’s strategic partnerships may not materialize into long-term partnership arrangements; pre-orders Vertical has received for its aircraft are conditional and may be terminated at any time in writing prior to certain specified dates; any potential failure by Vertical to effectively manage its growth; the impact of COVID-19 on Vertical’s business; Vertical has identified material weaknesses in its internal controls over financial reporting and may be unable to remediate the material weaknesses; Vertical’s dependence on our senior management team and other highly skilled personnel; as a foreign private issuer Vertical follows certain home country corporate governance rules, is not subject to U.S. proxy rules and is subject to Exchange Act reporting obligations that, to some extent, are more lenient and less frequent than those of a U.S. domestic public company; and the other important factors discussed under the caption “Risk Factors” in our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (“SEC”) on April 29, 2022, as such factors may be updated from time to time in Vertical’s other filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. Vertical disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
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DUBLIN--(BUSINESS WIRE)--The "AI in Oil and Gas Market Outlook Report - Industry Size, Trends, Insights, Market Share, Competition, Opportunities, and Growth Forecasts by Segments, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
2022 AI in Oil and Gas Market Data, Growth Trends and Outlook to 2030
The Global AI in Oil and Gas Market Analysis Report is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing prospects in AI in Oil and Gas Market over the next eight years, to 2030. Robust changes brought in by the pandemic COVID-19 in the AI in Oil and Gas supply chain and the burgeoning drive to shift to cleaner, more reliable, and sustainable energy sources are necessitating companies to align their strategies.
AI in Oil and Gas Market Segmentation and Growth Rates
The AI in Oil and Gas Market research report covers AI in Oil and Gas industry statistics including the current AI in Oil and Gas Market size, AI in Oil and Gas Market Share, and AI in Oil and Gas Market Growth Rates (CAGR) by segments and sub-segments at global, regional, and country levels, with an annual forecast till 2030. AI in Oil and Gas market insights cover end-use analysis and identify emerging segments of the AI in Oil and Gas market, high-growth regions, and countries. The study provides a clear insight into market penetration by different types, applications, and sales channels of AI in Oil and Gas with corresponding growth rates, which are validated by real-time industry experts.
Future of AI in Oil and Gas Market - Driving Factors and Hindering Challenges
AI in Oil and Gas Market Revenue is expected to grow at a healthy CAGR propelled by staggering demand from emerging markets. Digital technology advances in the AI in Oil and Gas market are enabling efficient production, expanding portfolio, effective operational maintenance, and sales monitoring. Proliferating demand for smart storage, decentralized networks, intelligent automation, and Increasing disposable incomes in flourishing fast developing nations are a few of the key market developments. The post-pandemic economic recovery boosting energy consumption, automotive, industrial, and consumer goods sales, leads to an impressive growth rate in 2021. However, complying with stringent regulations and varying standards around the world, growing competition, and inflation estimated to remain above the upper band during the short term in key nations, and fluctuating raw material prices are some of the AI in Oil and Gas market restraints over the forecast period.
AI in Oil and Gas Market Analytics
The research analyses various direct and indirect forces that can potentially impact the AI in Oil and Gas market supply and demand conditions. Parent market, derived market, intermediaries' market, raw material market, and substitute market are all evaluated to better prospect AI in Oil and Gas market opportunities. Geopolitical analysis, demographic analysis, and porters' five forces analysis are prudently assessed to estimate the best AI in Oil and Gas market projections. Recent deals and developments are considered for their potential impact on AI in Oil and Gas's future business. Other metrics analyzed include Threat of New Entrants, Threat of New Substitutes, Product Differentiation, Degree of Competition, Number of Suppliers, Distribution Channel, Capital Needed, Entry Barriers, Govt. Regulations, Beneficial Alternative, and Cost of Substitute in AI in Oil and Gas market.
AI in Oil and Gas trade and price analysis help comprehend AI in Oil and Gas's international market scenario with top exporters/suppliers and top importers/customer information. The data and analysis assist our clients to plan procurement, identifying potential vendors/clients to associate with, understanding AI in Oil and Gas price trends and patterns, and exploring new AI in Oil and Gas sales channels. The research will be updated to the latest month to include the impact of the latest developments such as the Russia-Ukraine war on the AI in Oil and Gas market.
Key Topics Covered:
1. Table of Contents
2. Global AI in Oil and Gas Market Summary, 2022
3. AI in Oil and Gas Market Insights, 2022-2030
4. AI in Oil and Gas Market Analytics
5. Global AI in Oil and Gas Market Statistics - Industry Revenue, Market Share, Growth Trends and Forecast by segments, to 2030
6. Asia Pacific AI in Oil and Gas Industry Statistics - Market Size, Share, Competition and Outlook
7. Europe AI in Oil and Gas Market Data, Penetration, and Business Prospects to 2030
8. North America AI in Oil and Gas Market Size, Growth Trends, and Future Prospects to 2030
9. South and Central America AI in Oil and Gas Market Drivers, Challenges, and Future Prospects
10. Middle East Africa AI in Oil and Gas Market Outlook and Growth Prospects
11. AI in Oil and Gas Market Structure and Competitive Landscape
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8s86us
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HOUSTON--(BUSINESS WIRE)--Microvast Holdings, Inc. (NASDAQ: MVST), a technology innovator that designs, develops and manufactures lithium-ion battery solutions, today announced the successful outcome of its extreme fast charge (XFC) project, funded in part by the US Department of Energy’s (DOE) Office of Energy Efficiency & Renewable Energy (EERE) - Vehicle Technologies Office (VTO).
The stated goal of this XFC project was to deliver a lithium-ion automotive format pouch cell for electric vehicles (EVs) capable of (1) exceeding 500 cycles while charging in less than 10 minutes and (2) delivering at start of life > 180 Wh/kg of stored energy after 10-minute charge, greatly improving the accessibility and driving mobility for EVs.
During this project, Microvast worked with Argonne National Laboratory to provide advanced cell system characterization and BMW provided OEM charging considerations and general feedback. Microvast delivered a 35 Ah, 240 Wh/kg pouch cell using layered metal oxide and graphite chemistry to the US DOE National Lab for independent testing. The XFC cells were tested using a 10-minute fast charge (returning approximately 80% state-of-charge) and 1C discharge at 30ºC. Under these conditions, the XFC cells delivered over 1,700 cycles before reaching end of life, which exceeded the stated goal of the life cycle of the project’s prototype cells by 3.4X.
Dr. Wenjuan Mattis, Microvast’s Chief Technology Officer, said “Microvast’s development efforts aim to excel in safety, long life, and fast charging batteries and these test results highlight our expertise and commitment to enabling technologies. Through this key technology we are excited to further partner with and support the automotive industry on its way to electrification. We are grateful for the support provided by the Vehicle Technology Office during this project, and we look forward to implementing our findings into future cells produced at Microvast’s manufacturing facility in Clarksville, Tennessee.”
About Microvast
Founded in Houston, Texas in 2006 as a research and technology driven company, Microvast has evolved into a global leader in the design, development and manufacture of battery solutions for mobile and stationary applications. Microvast provides a broad portfolio of fast-charging lithium-ion battery solutions, with different chemistries, performance characteristics and price points to meet the diverse requirements of its customer base. Microvast is renowned for its cutting-edge cell technology and its vertical integration capabilities which extend from core battery chemistry (cathode, anode, electrolyte, and separator) to modules and packs.
Since placing its first battery systems into operation in electric buses more than a decade ago, Microvast has expanded its business to serve a broad range of commercial, passenger and specialty vehicles, including mining, material handling, and power vehicles and equipment, as well as grid-scale energy storage applications.
For more information, please visit www.microvast.com or follow us on LinkedIn or Twitter (@microvast).
Cautionary Statement Regarding Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Microvast’s industry and market sizes, future opportunities for Microvast and the combined company and Microvast’s estimated future results. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
Sarah Alexander
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DUBLIN--(BUSINESS WIRE)--The "Middle East & Africa Data Center Generator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product Type, Capacity, and Tier" report has been added to ResearchAndMarkets.com's offering.
The data center generator market in Middle East & Africa is expected to grow from US$ 433.83 million in 2021 to US$ 591.14 million by 2028. It is estimated to grow at a CAGR of 4.5% from 2021 to 2028.
Environmental sustainability and energy savings are two fundamental factors fueling the interest in renewables. The cost of power in a data center is high, accounting for over half of the total operating expenses. When rising and unpredictable energy costs and levies linked with pending carbon emission regulations are considered, it is easy to see why operators are becoming more interested in renewables' role in lowering and stabilizing energy costs. Google's hyper-scale data centers have been pioneers in renewable energy programs, researching their inherent financial, environmental, and social value.
Google chooses locations for its data centers based on various considerations, including the availability of reliable service and the opportunity for renewable energy. As a result, it employs renewable energy in the form of wind and solar to power over 35% of its operations through power purchase agreements (PPAs), a technique that encourages utility providers to increase the use of renewables. Facebook is constructing facilities in Iowa that will be powered entirely by a local wind project that the company helped establish.
Dubai Electricity and Water Authority launched the first phase of the Middle East & Africa's largest solar-powered data center as the emirate attempts to strengthen its green economy and focus on sustainable development. Rooftop solar, wind, geothermal, and waste heat reclamation are viable data center options due to the high cost of photovoltaic solar arrays, climate conditions, and space constraints. However, because rooftop solar is free when accessible, it has become one of the more frequently employed ways in data center environments, lowering the cost of implementation. Wind turbines are less common, owing to real estate constraints and costs, yet interest in this resource is growing.
Middle East & Africa Data Center Generator Market Segmentation The Middle East & Africa data center generator market is segmented into product type, capacity, tire, and country.
Based on product type, the market is segmented into diesel, natural gas, and bi-fuel. In 2020, the diesel segment held the largest market share.
Based on capacity, the Middle East & Africa data center generator market is segmented into below 1 MW, 1-2 MW, and greater than 2 MW. In 2020, the below 1MW segment held the largest market share and is expected to register the highest CAGR in the market during the forecast period.
Based on tire, the market is segmented into tier 1 and tier 2, tier 3, and tier 4. In 2020, the tier 3 segment held the largest market share. Based on country, the Middle East & Africa data center generator market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. In 2020, the UAE held the largest market share.
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Future Trends
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Middle East & Africa Data Center Generator Market Landscape
5. Middle East & Africa Data Center Generator Market - Key Market Dynamics
6. Middle East & Africa Data Center Generator Market Analysis
7. Middle East & Africa Data Center Generator Market - by Product Type
8. Middle East & Africa Data Center Generator Market - by Capacity
9. Middle East & Africa Data Center Generator Market - by Tier
10. Middle East & Africa Data Center Generator Market - Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/3j7huy
ResearchAndMarkets.com
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DUBLIN--(BUSINESS WIRE)--The "Biopower Market Research Report by Technology (Anaerobic Digestion, Direct Combustion, and Gasification), End User, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Biopower Market size was estimated at USD 52.18 billion in 2021, USD 58.50 billion in 2022, and is projected to grow at a CAGR 12.29% to reach USD 104.65 billion by 2027.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Biopower Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Biopower Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Biopower Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Biopower Market?
4. What is the competitive strategic window for opportunities in the Global Biopower Market?
5. What are the technology trends and regulatory frameworks in the Global Biopower Market?
6. What is the market share of the leading vendors in the Global Biopower Market?
7. What modes and strategic moves are considered suitable for entering the Global Biopower Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/8zn28d
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Greg Ergenbright Appointed Chief Executive Officer
DALLAS--(BUSINESS WIRE)--#EmergencyRepair--Trive Capital, a Dallas, TX-based private equity firm, along with strategic operating partner, SideKick Operators, announces the formation of OWL Services (“OWL” or the “Company”), the leading sales, installation, program management, and service provider to petroleum and clean energy companies across North America.
The Company is the result of the recent acquisition of seven industry leading businesses—including, WildcoPES, CBE, Crompco, e-Structure Solutions, Great Dane Petroleum, JBI Electrical Systems and Oscar W. Larson Company (“Oscar Larson”). Oscar Larson’s accomplished management team, skilled staff and technicians, and state-of-the-art technology platform, combined with the expert service offering of these six other leading companies, are the foundation of the OWL Services platform.
OWL Services will be headquartered in the Metro Detroit area, and has 21 offices and more than 1,300 field service professionals located across the U.S. OWL provides integrated solutions for all facets of the petroleum convenience and electric vehicle markets, including security, point-of-sale, environmental compliance, and petroleum convenience and EV charging station design, construction, and maintenance.
Greg Ergenbright, former President of U.S. Operations for Schindler Elevator Group, joins the newly formed company as its Chief Executive Officer. A 30-year equipment, construction, and maintenance veteran, Ergenbright is a strategic and collaborative leader with a demonstrated record of success building business and driving high-performance cultures focused on operational excellence.
“It’s an exciting and transformative time—not only for OWL, but also for our industry,” says Ergenbright. “By combining the capabilities and strengths of these seven businesses, we have created a turnkey solutions company that will shape and define the future of how we fuel and power our vehicles. I’m thrilled to be a part of this transformation.”
Beyond its existing offering, OWL will continue to invest in its already industry-leading eMobility services. The Company is a premier partner for fast-charging original equipment manufacturers and customers looking for a solutions provider that can comprehensively build, operate, and manage the electrical charging infrastructure needed to support the rising number of electric vehicles in the U.S. “OWL is fully equipped to take on the unique demands of electrification safely, efficiently, and sustainably, just as our partner companies have done for decades with petroleum equipment,” says Ergenbright.
Blake Bonner, Partner at Trive Capital, added, “We are thrilled to announce the formation of OWL Services and onboarding of Greg Ergenbright after completing seven transactions in less than two years from the original acquisition of Oscar W. Larson. We have built a differentiated facility maintenance platform to address the unprecedented challenges faced by OWL customers in managing electrification while also maintaining existing infrastructure. OWL is another example of Trive’s ability to serve as the preferred partner for owner-operators who want to quickly execute a shared strategic plan.”
“It has been an honor working side-by-side with the tremendous leadership of these companies,” says SideKick CEO Justin Steen. “For over 70 years, OWL’s leadership team has fostered a culture of service excellence, fueling the future of these combined organizations. They understand the importance of relentless service to its customers 24/7/365, which positions OWL as the nation’s partner of choice for maintaining existing infrastructure and future innovations.”
Headquartered in the Metro Detroit area with over 21 offices and 1,300 field service staff, OWL Services is the leading sales, installation, program management, and service provider to petroleum and clean energy companies nationally. OWL keeps America fueled up, plugged in and on the go 24/7/365 days a year. The Company’s portfolio of brands includes:
Learn more about OWL and its services, as well as employment opportunities, at www.owlservices.com
Trive Capital is a Dallas, Texas based private equity firm with more than $4 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.
The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing more than $6 billion in revenue across Trive’s targeted industry sectors and situations.
For more than four decades, the partners of SideKick Operators have been building long lasting and sustainable companies across North America. SideKick is a strategic operating partner investing in mission critical trades providing repair, maintenance, inspection and testing services. SideKick joins in partnership with business leaders to build national brand reputations through operational excellence. SideKick comes from a history of deep-rooted appreciation for founder and family-owned businesses.
For inquires, please contact Morgan McGee – This email address is being protected from spambots. You need JavaScript enabled to view it.
DALLAS--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, announced today it has appointed Dawn MacDonald as its Global Offshore Wind Market Sector Lead. In this role, Ms. MacDonald will work across the globe to advance an integrated offshore wind offering that leverages AECOM’s leading environmental and port infrastructure expertise to new and existing clients.
“We are excited to welcome Dawn to AECOM as we continue to advance our Sustainable Legacies strategy and extend our global capabilities in the growing offshore wind energy market,” said Lara Poloni, AECOM’s president. “We have a deep commitment to positively impacting the environment and helping our clients realize their low-carbon energy ambitions, and Dawn’s industry-leading offshore wind experience will further enhance AECOM’s multi-decade track record of delivering best-in-class environmental services and leadership in the ports and marine design sector.’’
Global offshore wind generation is expected to rapidly grow over the next decade, driven by government net-zero commitments and incentives, the need for reliability through the energy transition, implementation of new technologies, and major leases coming online. AECOM's unique combination of services in permitting, port design, energy, construction, and program management allows the firm to serve its clients across the complexities associated with their wind development projects.
“I am delighted to join AECOM and work closely with technical experts around the world to deliver large-scale projects that reinforce our position as an offshore wind leader,” said Ms. MacDonald. “With governments moving quickly to boost new renewable energy capacity and meet their carbon reduction goals, I am also looking forward to helping our clients accelerate delivery and significantly de-risk these projects by reducing complexities through extensive collaboration with developers, key suppliers and contractors, local ports, and agencies.”
An energy industry veteran with more than 20 years in the sector and a professional engineer by trade, Ms. MacDonald brings an impressive portfolio of offshore wind experience, having overseen development, construction, and operations projects as part of the Maple Power joint venture in Europe. Prior to that role, she was based out of Calgary, Canada and oversaw the technical development of North American megaprojects and evaluation of energy sector investment opportunities.
About AECOM
AECOM (NYSE: ACM), is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; potential high leverage and inability to service our debt and guarantees; ability to continue payment of dividends; exposure to political and economic risks in different countries, including tariffs; currency exchange rate and interest fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and inadequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital’s real estate development; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure, power construction, and oil and gas construction businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
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1.213.593.8208
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Agreement could help unlock Japan’s significant geothermal potential
TOKYO--(BUSINESS WIRE)--Chevron New Energies International Pte, Ltd. (Chevron), and Mitsui Oil Exploration Co., Ltd (MOECO) today announced the signing of a Joint Collaboration Agreement to explore the technical and commercial feasibility of advanced geothermal power generation in Japan.
Building on Chevron and MOECO’s long-standing relationship, the new collaboration will study geothermal resource potential across Japan and will evaluate the effectiveness of Advanced Closed Loop (ACL) technology for a future joint pilot project in Japan. Both companies may also assess potential collaboration for advanced geothermal technology opportunities using ACL globally.
Unlike conventional geothermal projects, which use traditional steam turbines requiring high temperatures often found in concentrated locations limited by geological characteristics, ACL can potentially enable access to geothermal resources at a wider range of temperatures and geologies through the application of alternative technology above and below the surface.
“Chevron and MOECO share a goal of delivering lower carbon energy solutions, while meeting the need for reliable, affordable energy,” said Barbara Harrison, vice president of Offsets & Emerging, Chevron New Energies. “This collaboration provides an opportunity for Chevron to combine its subsurface capabilities and technologies with MOECO’s intimate knowledge of Japan’s geothermal potential resource geology and its long history of responsible resource development. The joint team will have the opportunity to test emerging geothermal technology in a real world setting with significant scaling up potential.”
“MOECO entered the geothermal business in 2012 and has been expanding its geothermal portfolio since then. In parallel with conventional geothermal, we have been studying ACL technology for many years and we believe this collaboration with Chevron utilizing ACL technology could unlock tremendous geothermal resources in Japan,” said Hirotaka Hamamoto, CEO of MOECO. “This joint collaboration with Chevron, who has been a valued partner of MOECO for several decades in the energy industry, is intended to open a new chapter in the geothermal industry as MOECO aims to continue contributing to an environmentally sustainable world as a member of the Mitsui & Co.’s group companies.”
About Chevron
Chevron (NYSE: CVX) is one of the world’s leading integrated energy companies. We believe affordable, reliable, and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
About MOECO
MOECO celebrated its milestone 50th anniversary in 2019. MOECO has been continually devoted to the exploration, development and production of energy resources globally building from the development of our gas projects in offshore Thailand. MOECO now embraces the challenge that comes with the world entering into a new era where society’s demands for energy are rapidly changing. We renew our commitment towards delivering energy resources that will strive to meet the demands of a changing society through our global expansion including the continued development of our geothermal business as one of the core group companies of Mitsui & Co.’s energy business value chain. More information about MOECO is available at www.moeco.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic, market and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Chevron New Energies
Creighton Welch
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MOECO
PR team, Corporate Strategy & Planning Division
https://www.moeco.com/contact/contact/index.html
CLEARWATER, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, today announced that Mercedes Romero has been appointed to its Board of Directors effective October 1, 2022.
Mercedes Romero is the Global Chief Procurement Officer at Primo Water (Nasdaq: PRMW). She brings over 25 years of diverse experience across industries such as Consumer Packaged Goods (Procter & Gamble, Clorox), Spirits (Diageo, Campari), Pharmaceutical (Teva), Retail (Starbucks), and Transportation (Ryder). Romero has made meaningful contributions to the profitability of large organizations through the identification and implementation of operational efficiencies, strategic planning, and an innovative approach to gaining market share. She has led enterprise-wide digital transformations and ESG efforts. Romero is an independent director at John B. Sanfilippo & Son (Nasdaq: JBSS). She currently serves as chair of the Sourcing Diversity and Supplier Relationship Management Committee at the Institute for Supply Management (ISM), where she has held several advisory roles since 2007. Romero, a native of Venezuela, graduated from University Rafael Urdaneta with a degree in civil engineering. She also studied packaging solutions at Michigan State University and English Studies at Cornell University. Romero and her family are avid boaters and passionate about spending time on the water in their free time.
Joseph A. Watters, MarineMax Board Member and Nominating and Corporate Governance Committee Chair stated, “We are very excited and honored to have Mercedes join our Board of Directors. Her expertise in global procurement and strategic planning coupled with her success as a leader in driving results will be instrumental as we grow our business and continue to exceed the expectations of our customers, our team members, and our shareholders. Furthermore, Mercedes’s track record and international experience will bring new perspectives and further enhance our Board’s collective expertise. On behalf of the Board, we welcome Mercedes and look forward to her future contributions to the Company.”
“It is an honor to join the MarineMax Board, especially at such a pivotal time of growth for the Company,” said Romero. “I look forward to leveraging my global experience to build on the momentum MarineMax has achieved through its strategic growth plan across its family of businesses."
About MarineMax
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts, and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 78 retail dealership locations, which includes 34 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Forward-Looking Statement
Certain statements in this press release may be forward-looking as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions, and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2021 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Michael H. McLamb
Chief Financial Officer
727-531-1700
Media:
Katherine Cooper
MarineMax, Inc.
Investors:
Brad Cohen or Dawn Francfort
ICR, LLC
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TOKYO--(BUSINESS WIRE)--#HollandHydrogen1--Yokogawa Electric Corporation (TOKYO: 6841) announced today that it has been selected by Shell Plc to be the main automation contractor (MAC) for the construction of its Holland Hydrogen I plant in the Dutch port of Rotterdam.
The Holland Hydrogen I plant will produce renewable hydrogen by using electricity from an offshore wind farm and will be Europe’s largest renewable hydrogen plant once operational in 2025. In its role as MAC, Yokogawa will optimize operations at the plant by closely integrating its systems and equipment.
The Holland Hydrogen I plant will have a 200 megawatts (MW) electrolyser that will produce up to 60,000 kilograms of green hydrogen per day. The green hydrogen produced at this plant will be transported via a pipeline to the Shell Energy and Chemicals Park Rotterdam, where it will replace some of the grey hydrogen used in the refinery, partially decarbonizing the facility’s production of energy products like gasoline, diesel and jet fuel.
Koji Nakaoka, Yokogawa vice president and head of the company’s Energy & Sustainability Business Headquarters and Global Sales Headquarters, said, “Our company aims to play a leading role in achieving a world in which systems are closely integrated, based on the system of systems (SoS) concept. In the hydrogen supply chain, there are individual systems for functions such as production, pipeline transport, storage, and supply, each of which is owned by a different entity. Through participation in projects that help our customers achieve progress in their decarbonization strategies and add value to their enterprises, Yokogawa will continue working to realize a sustainable society.”
About Yokogawa
Yokogawa provides advanced solutions in the areas of measurement, control, and information to customers across a broad range of industries, including energy, chemicals, materials, pharmaceuticals, and food. Yokogawa addresses customer issues regarding the optimization of production, assets, and the supply chain with the effective application of digital technologies, enabling the transition to autonomous operations. Founded in Tokyo in 1915, Yokogawa continues to work toward a sustainable society through its 17,000+ employees in a global network of 122 companies spanning 61 countries.
For more information, visit www.yokogawa.com
The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.
Public Relations Section
Integrated Communications Center
Yokogawa Electric Corporation
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Skytec users now have easy, on-demand tasking access to BlackSky’s hourly, high resolution satellite imagery for natural resource management
HERNDON, Va.--(BUSINESS WIRE)--$BKSY #artificialintelligence--BlackSky Technology Inc. (NYSE: BKSY) has partnered with remote sensing, drone, and Geographic Information System (GIS) monitoring company Skytec to integrate on-demand imagery tasking into the Skytec’s Ranger™ monitoring platform through Esri ArcGIS Online.
“BlackSky’s dynamic imagery products enable new levels of insight for Skytec customers at unprecedented speed and efficiency,” said BlackSky Chief Commercial Officer Amy Minnick. “With on-demand tasking access to BlackSky’s constellation, customers can incorporate hourly, dawn-to-dusk image products directly into their current workflows and experience the value of real-time geospatial intelligence firsthand.”
“The ease of tasking, speed to image delivery, and seamless API integration through ArcGIS Online have translated into unparalleled efficiency for Skytec Ranger™ users,” said Skytec Chief Technology Officer Andrew Carroll. “Our subscribers can task and incorporate BlackSky’s electro-optical imagery data and combine those with Unmanned Aerial System (UAS) data within their existing GIS software ecosystem.”
Skytec clients span across the consumer-packaged goods, utilities, natural resource management, and financial services industries, and work initiatives to monitor environmental, social and governance investments and to support corporate sustainability programs with data.
BlackSky and Skytec are silver partners in the Esri Partner Network.
About BlackSky
BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events in the world.
BlackSky designs, owns and operates one of the industry’s leading low earth orbit small satellite constellations, optimized to capture imagery cost-efficiently where and when our customers need it. BlackSky’s Spectra AI software platform processes data from BlackSky’s constellation and from other third-party sensors to develop the critical insights and analytics that our customers require.
BlackSky is relied upon by U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on Twitter.
About Skytec LLC
Founded in 2015 in Chattanooga, Tennessee, Skytec is a leader in multi-scale remote monitoring technologies. Skytec harnesses the most innovative satellite, UAS, and mapping technologies to help clients design, monitor, and manage projects, services areas, and assets.
Skytec’s Ranger™ is a subscription-based global monitoring system powered by AI, satellite imagery, and drone technology solutions. Using GIS, satellite imagery, and unmanned aerial systems, Ranger™ provides clients with the ability to detect and respond to changes, anywhere on the surface of Earth, every day.
To learn more about Skytec LLC, visit https://skytecllc.com.
Learn how Skytec’s Ranger can help your business monitor crucial assets.
Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky’s disclosure materials filed from time to time with the SEC which are available at the SEC’s website at http://www.sec.gov or on BlackSky’s Investor Relations website at https://ir.blacksky.com.
Investor
Aly Bonilla
VP, Investor Relations
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Media
Pauly Cabellon
Director, External Communications
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LOVELAND, Colo.--(BUSINESS WIRE)--Lightning eMotors, Inc. (NYSE: ZEV), a leading provider of zero emission medium-duty commercial vehicles and electric vehicle technology for fleets, today announced that Wanda Jackson-Davis has been appointed to the Company’s Board of Directors.
“We are pleased to welcome Wanda Jackson-Davis to the Lightning Board,” said Robert Fenwick-Smith, the Company’s Board Chairman. “Wanda’s knowledge and experience in supply chain, procurement and operations will provide perspective that complements our current board strengths as we position the Company for growth and success in the evolving eV marketplace.”
Ms. Jackson-Davis has more than 20 years of procurement and supply chain experience in power, automation, automotive, and industrial settings. She has significant experience developing leading-edge procurement and sourcing processes for top industrial companies. She currently serves as the Vice President of Sourcing & Procurement for McKesson, a global leader in health care supplies, retail pharmacy, and pharmaceutical distribution. Prior experience includes senior-level positions in supply chain and procurement for leading companies such as Dematic, ABB and Ford Motor Company.
Ms. Jackson-Davis also co-founded Black Women’s Executive Pathway, an Atlanta-based executive education provider that offers specialized executive training programs. She earned a bachelor's degree in Supply Chain Management from Michigan State University and an MBA from Emory University.
About Lightning eMotors
Lightning eMotors (NYSE: ZEV) has been providing specialized and sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, ambulances, Class 4 and 5 cargo vans and shuttle buses, Class 4 Type A school buses, Class 6 work trucks, Class 7 city buses, and motor coaches. The Lightning eMotors team designs, engineers, customizes, and manufactures zero-emission vehicles to support the wide array of fleet customer needs with a full suite of control software, telematics, analytics, and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency. To learn more, visit our website at https://lightningemotors.com.
Brian Smith
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NEW YORK & HAMBURG, Germany--(BUSINESS WIRE)--#coatingstechnology--One Equity Partners (“OEP”), a middle market private equity firm, today announced it has signed a definitive agreement to acquire the core operating assets of Muehlhan AG (ETR:M4N), a global provider of surface protection solutions catering to the marine, infrastructure and offshore wind energy industries. Financial terms of the private transaction were not disclosed.
Founded in 1881 and headquartered in Hamburg, Germany, Muehlhan is a broad-based Industrial Services provider specializing in wind services, surface protection, steel services, passive fire protection, scaffolding and insulation works. Muehlhan is deeply rooted in the maritime industry and over time, has successfully expanded its services portfolio tailored to the individual requirements of its core end-markets: wind energy, maritime and infrastructure. Muehlhan’s strong reputation is based on the Company’s mindset of combining unparalleled customer focus with industry leading capabilities, capacities and competences, to ensure consistent superior performance that meets even the most challenging customer demands.
“We believe that OEP will accelerate our growth strategy of providing industrial services to the three core industries: wind energy, marine and infrastructure, extending our geographic reach and broadening our service portfolio. OEP has a long track record of driving their investments forward, especially through strategic add-on acquisitions,” said Muehlhan AG’s CEO – Stefan Müller-Arends.
“Our strategy is to quickly scale the renewables, marine and infrastructure businesses through acquisitions and become an even better provider to renewables OEMs, marine clients and public infrastructure providers, while benefitting from the strong underlying growth in each of the three end-markets. The underlying end-markets exhibit attractive growth prospects and are backed by global efforts to decarbonize energy, U.S. infrastructure investments and increasing naval defense budgets in light of the recent geopolitical complexities,” said Philipp von Meurers, Managing Director at OEP
“Muehlhan has successfully broadened its service offerings beyond maritime into high-growth adjacent markets such as wind energy, thereby capitalizing on the trend of decarbonizing energy production. The combination of asset aging and new installations is expected to benefit offshore operations and the maintenance market, which is expected to grow by a double-digit CAGR between 2020 and 2025,” said Vittorio Palladino, Vice President at OEP. “We know the market well and believe Muehlhan is a great platform to consolidate the fragmented coating services market. We look forward to supporting the Muehlhan team on its ongoing success story and help the company expand its footprint in attractive growth markets such as the U.S., but also further increase density in its core markets including Germany and the Nordics.”
The acquisition is expected to close by Q1 2023 and is subject to approval by the general meeting of Muehlhan AG, regulatory approvals and customary closing conditions.
About Muehlhan AG
Muehlhan AG is a listed corporation traded on the Open Market of Frankfurt Stock exchange (ISIN: DE000A0KD0F7 / WKN A0KD0F). The Muehlhan Group offers its customers a broad spectrum of industrial services: wind turbine services, surface protection, steel services, passive fire protection, scaffolding and insulation works. Muehlhan combines strong organizational skills and technical expertise, 140 years of experience and rigorous quality standards into cost effective industrial service offerings which satisfies the highest quality demands of its customers.
For further information, please visit: www.muehlhan.com
About One Equity Partners
One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of J.P. Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.
Media
For Muehlhan AG:
Frithjof Dorowski – Muehlhan AG
+49 (0)40 752 71-166
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or
For One Equity Partners:
Thomas Zadvydas
Stanton
+1 (646) 502-3538
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HOUSTON--(BUSINESS WIRE)--$TELL #LNG--Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that it has updated its Driftwood LNG financing strategy to prioritize securing equity partners. Part of this strategy includes introducing flexibility in its liquefied natural gas portfolio with the termination of two current sales and purchase agreements.
President and CEO Octávio Simões said, “The potential corporate and strategic partners we are seeking may want liquefied natural gas (LNG) volumes that they can sell globally and now we have some capacity to offer that option. We have made good progress on our construction plan and will continue funding that with our cash and operating cash flow.”
Simões added, “What has not changed for Tellurian is that we are an operating natural gas producer with revenue from our gas sales. Last quarter we produced nine billion cubic feet of natural gas and had over $61 million in sales, and since then we have closed the EnSight acquisition. Currently we have 11 natural gas wells in various stages of completion and therefore expect a significant increase in production and sales next quarter. In addition, we will add to our value when our fully permitted Driftwood LNG project is completed, and we can reach the global markets with LNG sales at global prices.”
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, the construction and financing of the project, and cash flows, production, sales, profitability and asset values. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2021 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 23, 2022, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
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Investors:
Matt Phillips
Vice President, Investor Relations
Phone +1.832.320.9331
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Virtual Presentations To Be Held Monday, September 26 - Wednesday, September 28
LOS ANGELES--(BUSINESS WIRE)--$CGRN #Biogas--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, will be participating in three separate Renmark Financial Communications Inc.’s live Virtual Non-Deal Roadshow Series to discuss its latest investor presentation beginning on Monday, September 26 at 11:00 a.m. CT. Capstone welcomes stakeholders, investors, and other interested individuals to register and attend this live event.
The presentation will feature Darren Jamison, President and CEO. The investor presentation will be followed by a live Q&A. Investors interested in participating in this event will need to register using the link below. As a reminder, registration for the live event may be limited but access to the replay after the event will be on the Investor Relations section of the Company’s website.
Register Here: https://bit.ly/CGRNvndrSEPT26
To ensure smooth connectivity, please access this link using the latest version of Google Chrome.
If you are unable to join on Monday, September 26, Capstone will be participating in two additional Renmark Virtual Non-Deal Roadshows:
Tuesday, September 27 at 1:00 p.m. PT
Register Here: https://bit.ly/CGRNvndrSEPT27
Wednesday, September 28 at 1:00 p.m. PT
Register Here: https://bit.ly/CGRNvndrSept28
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
About Renmark Financial Communications Inc.
Founded in 1999, Renmark Financial Communications Inc. is North America’s leading retail investor relations firm. Employing a strategic and comprehensive mix of exposure tactics; Renmark hosts Virtual Non-Deal Roadshows as well as in-person corporate presentations and maintains daily communications with thousands of brokers and money managers across Canada and the United States. Renmark empowers its publicly traded clientele to maximize their visibility within the financial community and strengthen their investor audience.
Renmark Financial Communications Inc.
Scott Logan: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel.: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE:EPD) today announced that it will hold a special meeting of unitholders at 8:00 a.m. CT on November 22, 2022. At the meeting, Enterprise unitholders will be asked to consider and vote upon 1) an amendment and restatement of the 2008 Enterprise Products Long-Term Incentive Plan and 2) an amendment and restatement of the EPD Unit Purchase Plan. The meeting will be held in Houston, Texas for unitholders of record as of October 11, 2022. It is anticipated that the mailing of the proxy and proxy statement to unitholders of record will begin on or around October 24, 2022.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that EPD and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition and other risk factors included in EPD’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, EPD does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
Real-time insights from data helps utilities and cities address challenges from extreme weather, personalization and sustainability for improving the quality of life for residents
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#Itron--As utilities and communities face unprecedented change from extreme weather, the adoption of electric vehicles, renewable power and other disruptors, nine out of 10 of utility executives say they recognize data analytics to be vital to their ability to serve customers reliably. Meanwhile, half of consumers say they are actually willing to pay more for data-driven insights that help them conserve energy and lower their bills. These are just two findings from the 2022 Resourcefulness Insight Report, released today by Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water.
Published today at Itron Inspire 2022, the company’s premier customer-focused event, the new report explores how utilities and cities are using real-time data and analytics to transform how they deliver energy and water to customers, improving the quality of life for residents. More Intelligence and More Possibilities: An Itron Resourcefulness Report dives into why 93% of utilities say it’s extremely/very important to be able to gain insights from real-time data and analytics. Driving this significance is the need to gain insights for greater efficiency, reliability in the face of extreme weather, personalized customer experiences and integrating renewables/promoting sustainability. Consumers agree that the top priority is improving efficiency to lower their costs, however they rank gaining personalized insights higher than utilities do.
“Data is one of the most important assets for every organization and individual. But data becomes much more powerful when we recognize its value in real-time and then act on it. Our future – especially within the utility industry – will be shaped by data and the actionable insights that come from it. By using this intelligence, utilities and cities can get the visibility they need to address pressing challenges and ensure they can continue to reliably deliver energy and water services and improve the overall quality of life for consumers everywhere,” said Marina Donovan, vice president of global marketing, ESG and public affairs.
The differing opinions of consumers and utility executives lead to additional key findings including:
The report summarizes key findings from surveys of 600 utility executives and 600 informed consumers from five countries – United States, Australia, India, Spain and the U.K. – on the key usage, priorities and barriers that data and analytics bring to the utility market.
The survey found that among all technology deployed by utilities for key use cases, data analytics is currently ranked between third and sixth, yet it moves to be in the top three investment priorities across the use cases of operational efficiency, extreme weather, personalization and sustainability in the next five years.
Utilities in each country have different perspectives on the most important use for data analytics:
|
US |
Australia |
India |
Spain |
UK |
1 |
Operational efficiency |
New revenue streams |
New revenue streams |
Operational efficiency |
Integrating renewables |
2 |
New revenue streams |
Operational efficiency |
Operational efficiency |
Resilience in extreme weather |
New revenue streams |
3 |
Integrating renewables |
- Integrating renewables - Smart city services |
Integrating renewables |
- Personalized insights - Smart city services |
- Personalized insights - Operational efficiency |
While smart city services are ranked lower in the chart above, the deployment of solutions related to EV charging is a high concern for utilities especially as many countries and regions implement legislation around required adoption of EVs beginning in 2035. Today, EV charging ranks third in deployed smart city services but this moves to the No. 1 investment priority in the next five years.
“Smart meters and sensors provide the real-time data that will assist utilities in improving grid resiliency in the face of disruptions from weather, unpredictable demands from EVs, supply from renewables and growing urban populations. And as utilities implement the next generation of distributed intelligence solutions over the next five years, there will be unprecedented visibility into every area of the network, especially the areas that are least visible today,” added Donovan. “Utilities and communities will need that data—and those resulting analytics-driven insights—to meet enormous challenges that are only now taking shape.”
To download a full copy of the Itron Resourcefulness Insight Report as well as the research, visit www.itron.com/resourceful.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners, and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (PARIS:TE) will issue its first nine months 2022 financial results on Thursday October 20, 2022, at 07:30 CET. The Company will host a results conference call on the same day at 13:00 CET.
To participate in the conference call, please use one of the following telephone numbers and dial in approximately 10 minutes prior to the scheduled start time:
FR: |
+33 170918704 |
||
UK: |
+44 1 212818004 |
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US: |
+1 718 7058796 |
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Conference Code: |
77709 |
The event will be webcast simultaneously and can be accessed at:
https://edge.media-server.com/mmc/p/uuw25hqj
To listen to the webcast, please register on the website at least 10 minutes before the call begins. The webcast will be available on-demand shortly after it has finished.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The Company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies shares are listed on Euronext Paris. In addition, Technip Energies has a Level 1 sponsored American Depositary Receipts (“ADR”) program, with its ADRs trading over-the-counter. For further information: www.technipenergies.com.
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 (0) 20 7585 5051
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 1 85 67 40 95
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Term extended to five years; borrowing base increased by 11%
Over $600 MM of total liquidity as of August 31, 2022
Public equity float increased by 15% through offering transactions
HOUSTON--(BUSINESS WIRE)--Crescent Energy Company (NYSE: CRGY) ("Crescent" or the "Company") today announced amendments to its revolving credit facility (the “Credit Facility”), effective September 23, 2022. The amendments were recently approved by the 11 member banks supporting the facility and reflect the strength of the business, an outlook for substantial cash flow, growing proved reserves and a strong balance sheet.
Amendment Highlights
Crescent CEO David Rockecharlie said, “For more than a decade, we have executed a consistent strategy that focuses on cash flow, returns and risk management. A core part of our risk management strategy includes maintaining a strong balance sheet, significant liquidity and access to capital at attractive rates to allow us to manage through the inherent cycles in our business. Today’s positive amendments to our Credit Facility and the successful completion of our recent public equity offering reflect the quality and scale of our growing portfolio and our stakeholders’ confidence in our ability to continue to execute our proven business plan.”
Summary of Recent Equity Offering Transactions
The Company continues to take strategic actions in-line with its stated capital markets priorities to strengthen its capital structure, improve market awareness and grow its public equity float. On September 13, 2022, Crescent completed an all secondary underwritten public offering of 5,750,000 shares of its Class A common stock at $15.00 per share, raising gross proceeds to the selling stockholders of $86 million (inclusive of the exercised greenshoe option). The offering was complemented by the Company’s concurrent purchase of 2,568,140 units of Crescent Energy OpCo LLC ("OpCo Units") at the same price per share received by the selling stockholders. KKR & Co. retained its existing stake in Crescent, with the selling shareholder base selling down pro-rata. Subsequent to the successful completion of the combined transactions, Crescent’s public equity float increased by approximately 15%.
CRGY
|
Secondary Offering and OpCo Unit Purchase(1) |
CRGY
|
|
Class A - Public Shares |
42.0 |
6.3 |
48.3 |
Class B - Private Shares |
127.5 |
(8.9) |
118.6 |
Total Shares Outstanding |
169.5 |
(2.6) |
166.9 |
|
|
|
|
KKR & Co. Ownership |
16% |
|
16% |
Financial Position
As of August 31, 2022, the Company had principal amount of indebtedness of $1.4 billion and net debt of approximately $1.4 billion, consisting of $700 million of senior unsecured notes and $716 million of outstanding borrowings on its Credit Facility. Total liquidity as of August 31, 2022 was $601 million, including availability on its revolver, cash and cash equivalents of $29 million and outstanding letters of credit of $12 million. Crescent has a Net LTM Leverage(2) ratio of 1.2x, in-line with its stated target. The Company expects to generate significant Levered Free Cash Flow for the remainder of 2022, which it plans to use to fund its dividend and further strengthen the balance sheet.
(1) |
Inclusive of the exercised greenshoe option and 572,354 shares of Class A Common Stock that were distributed in kind concurrent to the secondary equity offering. |
|
(2) |
Net LTM Leverage as of 6/30/22. Crescent defines Net LTM Leverage as the ratio of consolidated total debt to consolidated Adjusted EBITDAX as calculated under the credit agreement (the "Credit Agreement") governing Crescent’s Revolving Credit Facility. For purposes of the Credit Agreement, (i) consolidated total debt is calculated as total principal amount of Senior Notes, plus borrowings on our Revolving Credit Facility and unreimbursed drawings under letters of credit, less cash and cash equivalents and (ii) consolidated Adjusted EBITDAX includes certain adjustments to account for EBITDAX contributions associated with acquisitions the Company has closed within the last twelve months. Adjusted EBITDAX is a non-GAAP financial measure. |
About Crescent Energy Company
Crescent is a well-capitalized, U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states and substantial cash flow supported by a predictable base of production. Crescent’s core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy management has employed since 2011. The Company’s mission is to invest in energy assets and deliver better returns, operations and stewardship. For additional information, please visit www.crescentenergyco.com.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations, including with respect to the Uinta Acquisition. The words and phrases “should”, “could”, “may”, “will”, “believe”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “goal” and similar expressions identify forward-looking statements and express the Company’s expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of armed conflict, including in Ukraine, the timing and success of business development efforts, sustained cost inflation and central bank policy changes associated therewith, and other uncertainties. Consequently, actual future results could differ materially from expectations. The Company assumes no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
Emily Newport
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ROSH HAAYIN, Israel--(BUSINESS WIRE)--$BNRG #energystorage--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, announced today that its management team will conclude Climate Week in New York City by participating in the Opening Bell Ceremony at the Nasdaq Stock Market on Friday, September 23, 2022. Brenmiller Energy Chairman and Chief Executive Officer Avi Brenmiller will lead the ceremony alongside the Company’s senior executives and members of the Board of Directors. The Opening Bell Ceremony celebrates Brenmiller Energy’s recent listing on Nasdaq.
“This is an exciting time for Brenmiller and its stakeholders as we work to decarbonize some of the most emissions-intensive sectors of our global economy,” said Brenmiller Chairman and CEO Avi Brenmiller. “We are making great progress and have reached many important milestones to date in 2022. In addition to listing our ordinary shares on the Nasdaq, Brenmiller has been awarded multiple new, large projects, received a drawdown of €4 million from our credit facility with the European Investment Bank to scale our manufacturing capacity, and completed our first large-scale industrial project. Our mission is to deliver around-the-clock clean power to global industrial and power markets through a cost-effective and efficient solution; we look forward to scaling our operations and confronting climate change head-on.”
The ceremony will begin at approximately 9:15 a.m., Eastern Daylight Time, and can be viewed live or via replay here.
About Brenmiller Energy
Brenmiller Energy delivers scalable thermal energy storage solutions and services that allow customers to cost-effectively decarbonize their operations. Its patented bGen thermal storage technology enables the use of renewable energy resources, as well as waste heat, to heat crushed rocks to very high temperatures. They can then store this heat for minutes, hours, or even days before using it for industrial and power generation processes. With bGen, organizations have a way to use electricity, biomass and waste heat to generate the clean steam, hot water and hot air they need to mold plastic, process food and beverages, produce paper, manufacture chemicals and pharmaceuticals or drive steam turbines without burning fossil fuels. For more information visit the company’s website at https://bren-energy.com/ and follow the company on Twitter and LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses: its participation in the Opening Bell Ceremony at the Nasdaq Stock Market; its mission is to deliver around-the-clock clean power to global industrial and power markets; and to scaling its operations to confront climate change. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, the Company’s planned level of revenues and capital expenditures, the demand for and market acceptance of our products, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's prospectus dated May 24, 2022 filed with the U.S. Securities and Exchange Commission (“SEC”), which is 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.
Tori Bentkover
Antenna for Brenmiller Energy
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