ORANGE, Conn.--(BUSINESS WIRE)--Today AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company, and a core member of the IBERDROLA group, will hold its Investor Day at the New York Stock Exchange on September 22, 2022 at 9:00 a.m. Eastern Time. AVANGRID’s executive team will outline AVANGRID’s position to provide clean and affordable energy services while leading the way in the U.S.’s clean energy transition. The executive team will provide the investment community with details on the Company’s long-term strategic platform which will drive growth and the financial outlook through 2025.
“AVANGRID is driven by our commitment to execution, growth and value creation,” said Pedro Azagra, chief executive officer of AVANGRID. “Our business mix of regulated and renewables contracted businesses is one of our primary differentiators, as it positions us to fully capitalize on all the benefits the energy transition will bring. In the next several years, we plan to strengthen our position with a disciplined investment plan of approximately $15 billion through 2025, $8.1 billion without PNM Resources. Through our Networks business, we are working to modernize the grid and further integrate clean energy into the system. We are also one of the top renewable energy companies by installed capacity and are leading the way in the development of offshore wind, which is a critical step in the energy transition. These investments in both the regulated and contracted renewables will generate predictable earnings and cash flow through and beyond our 2022 to 2025 long-term outlook.”
For those not able to attend today in person, full access to the AVANGRID Investor Day presentations and audio-only webcast will be available in the Investors’ section on the company’s website at avangrid.com. An audio-only webcast replay of the event will be accessible at avangrid.com shortly after the completion of the event.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
____________________________________________________________________________________
Forward Looking Statements
Certain statements in this release may relate to our future business and financial performance and future events or developments involving us and our subsidiaries that are not purely historical and may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terms such as “may,” “will,” “should,” “would,” “could,” “can,” “expect(s),” “believe(s),” “anticipate(s),” “intend(s),” “plan(s),” “estimate(s),” “project(s),” “assume(s),” “guide(s),” “target(s),” “forecast(s),” “are (is) confident that” and “seek(s)” or the negative of such terms or other variations on such terms or comparable terminology. Such forward-looking statements include, but are not limited to, statements about our plans, objectives and intentions, outlooks or expectations for earnings, revenues, expenses or other future financial or business performance, strategies or expectations, or the impact of legal or regulatory matters on business, results of operations or financial condition of the business and other statements that are not historical facts. Such statements are based upon the current reasonable beliefs, expectations, and assumptions of our management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Important factors are discussed and should be reviewed in our Form 10-K and other subsequent filings with the SEC. Specifically, forward-looking statements include, without limitation:
Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may vary in material respects from those expressed or implied by these forward-looking statements. You should not place undue reliance on these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this report, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Other risk factors are detailed from time to time in our reports filed with the SEC, and we encourage you to consult such disclosures.
Use of Non-U.S. GAAP Financial Measures
To supplement our consolidated financial statements presented in accordance with U.S. GAAP, we consider adjusted net income and adjusted earnings per share, adjusted EBITDA and adjusted EBITDA with Tax Credits as financial measures that are not prepared in accordance with U.S. GAAP. The non-GAAP financial measures we use are specific to AVANGRID and the non-GAAP financial measures of other companies may not be calculated in the same manner. We use these non-GAAP financial measures, in addition to U.S. GAAP measures, to establish operating budgets and operational goals to manage and monitor our business, evaluate our operating and financial performance and to compare such performance to prior periods and to the performance of our competitors. We believe that presenting such non-GAAP financial measures is useful because such measures can be used to analyze and compare profitability between companies and industries by eliminating the impact of certain non-cash charges. In addition, we present non-GAAP financial measures because we believe that they and other similar measures are widely used by certain investors, securities analysts and other interested parties as supplemental measures of performance.
We define adjusted net income as net income adjusted to exclude mark-to-market earnings from changes in the fair value of derivative instruments used by AVANGRID to economically hedge market price fluctuations in related underlying physical transactions for the purchase and sale of electricity and costs incurred in connection with the COVID-19 pandemic, and costs incurred related to the PNMR Merger. We believe adjusted net income is more useful in understanding and evaluating actual and projected financial performance and contribution of AVANGRID core lines of business and to more fully compare and explain our results. The most directly comparable U.S. GAAP measure to adjusted net income is net income. We also define adjusted earnings per share, or adjusted EPS, as adjusted net income converted to an earnings per share amount.
We define adjusted EBITDA as adjusted net income adjusted to fully exclude the effects of net (loss) income attributable to noncontrolling interests, income tax expense (benefit), depreciation and amortization, interest expense, net of capitalization, other (income) expense and (earnings) losses from equity method investments. We further define adjusted EBITDA with tax credits as adjusted EBITDA adding back the pre-tax effect of retained Production Tax Credits (PTCs) and Investment Tax Credits (ITCs) and PTCs allocated to tax equity investors. The most directly comparable U.S. GAAP measure to adjusted EBITDA and adjusted EBITDA with tax credits is net income.
The use of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, AVANGRID’s U.S. GAAP financial information, and investors are cautioned that the non-GAAP financial measures are limited in their usefulness, may be unique to AVANGRID, and should be considered only as a supplement to AVANGRID’s U.S. GAAP financial measures. The non-GAAP financial measures may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools.
Non-GAAP financial measures are not primary measurements of our performance under U.S. GAAP and should not be considered as alternatives to operating income, net income or any other performance measures determined in accordance with U.S. GAAP.
Investors and others should note that AVANGRID routinely posts important information on its website and considers the Investor Relations section, www.avangrid.com/wps/portal/avangrid/Investors, a channel of distribution.
Analysts: Alvaro Ortega, This email address is being protected from spambots. You need JavaScript enabled to view it., 207-629-7412
Media: Kimberly Harriman, This email address is being protected from spambots. You need JavaScript enabled to view it., 203-343-4481
SAN FRANCISCO--(BUSINESS WIRE)--Stem (the "Company") (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, announced today that it will host its Investor and Analyst Day on Wednesday, September 28, 2022, beginning at approximately 9:00 a.m. Eastern Time (ET), in New York City, New York.
During the event, Stem’s senior management will discuss the Company’s strategy, technology differentiation, and long-term financial outlook. Additionally, the Company will provide a demonstration of its Athena® software platform, and management will hold a Q&A session.
A live video webcast will be available in listen-only mode beginning at approximately 9:00 a.m. ET and include access to the Q&A session. To access the live webcast, please register at least 15 minutes prior to the event at https://icr.swoogo.com/STEM_Virtual. An archived replay will be made available following the end of the event. For additional information, as well as the Company’s latest presentation materials, please visit the Company’s Investor website at https://investors.stem.com/.
About Stem, Inc.
Stem provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Stem’s leading AI-driven enterprise software platform, Athena® enables organizations to deploy and unlock value from clean energy assets at scale. Powerful applications, including AlsoEnergy’s PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. Stem also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and EV fleet charging. For more information, visit www.stem.com.
Source: Stem, Inc.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
This email address is being protected from spambots. You need JavaScript enabled to view it.
(847) 905-4400
Stem Media Contact
Suraya Akbarzad, Stem
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, today celebrated 25 years as a business and 15 years traded on the NASDAQ (Nasdaq) stock exchange. In honor of the occasion Andrew J. Littlefair, Clean Energy President and CEO, and the company’s board of directors rang the NASDAQ closing bell in Times Square.
“We’ve come a long way since Boone Pickens and I founded the company. He would be proud to see our vision of widespread adoption of clean alternative transportation fuel come to fruition,” said Littlefair. “After 25 years, Clean Energy continues to lead the way to cleaner skies and battling climate change with our renewable natural gas, a sustainable fuel derived from organic waste, offering for thousands of large vehicle fleets from city buses to heavy-duty trucks.”
Renewable natural gas, or RNG, is derived from organic material found in green waste, food waste, landfills, sewage treatment, and livestock manure. These organic wastes naturally decompose into methane. Methane that leaks into the atmosphere is a potent short-lived climate pollutant and greenhouse gas. Rather than releasing into the atmosphere, methane is captured and converted into RNG.
“With carbon reduction up to 300 percent, RNG is the essence of renewable energy,” said Littlefair. “It presents enormous potential in sustainable transportation, so we’re continuing to focus on a pathway to grow both the production and distribution of this negative carbon intensity fuel.”
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.
T-Cell Select reagent kit simplifies the T-SPOT.TB test laboratory workflow through automation expanding access to the most sensitive latent TB test on the market
WALTHAM, Mass.--(BUSINESS WIRE)--PerkinElmer’s (NYSE: PKI) Oxford Immunotec today announced the U.S. Food and Drug Administration (FDA) has approved the use of the T-Cell Select™ reagent kit for the automation of its T-SPOT®.TB test workflow for in vitro diagnostic (IVD) use by certified laboratories.
The T-Cell Select reagent kit allows for a more automated workflow, designed to reduce hands-on time for lab personnel and lower overall costs. The increased use of automation also improves blood sample logistics, as it allows for a standard blood collection tube which can be stored at room temperature for up to 54 hours with no complex phlebotomy practices. The extended blood sample stability enables easy centralization of sample processing, which expands access to the T-SPOT.TB test and gives laboratories more flexibility with the potential for sample batching.
T-Cell Select is a peripheral blood mononuclear cell (PBMC) isolation reagent that uses positive selection of PBMCs with magnetic bead-based cell separation to automate and simplify the preparation of cells for the T-SPOT.TB test, a globally regulated ELISPOT IGRA for detecting latent TB infection. The T-SPOT.TB test with the T-Cell Select reagent kit is the only automated IGRA TB test without regulatory (label) warnings for immunocompromised patients, who often have lower levels of T cells available to evaluate.
“Automation closes the gap between ELISPOT and ELISA laboratory workflows, enabling more laboratories to offer the clinically superior T-SPOT.TB test to more physicians,” said Phill Keefe, chief executive officer of PerkinElmer’s Oxford Immunotec division. “This results in the highest quality of care for the most vulnerable patients across the United States.”
The T-Cell Select reagent kit is available throughout Europe where CE marking is accepted, South Korea by the Ministry of Food and Drug Safety, China by the National Medical Products Administration (NMPA) and is quickly becoming available in more markets around the world.
About PerkinElmer
PerkinElmer is a leading, global provider of end-to-end solutions that help scientists, researchers and clinicians better diagnose disease, discover new and more personalized drugs, monitor the safety and quality of our food, and drive environmental and applied analysis excellence. With an 85-year legacy of advancing science and a mission of innovating for a healthier world, our dedicated team of more than 16,000 collaborates closely with commercial, government, academic and healthcare customers to deliver reagents, assays, instruments, automation, informatics and strategic services that accelerate workflows, deliver actionable insights and support improved decision making. We are also deeply committed to good corporate citizenship through our dynamic ESG and sustainability programs. The Company reported revenues of approximately $5 billion in 2021, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available at www.perkinelmer.com. Follow PerkinElmer on LinkedIn, Twitter, Facebook, Instagram, and YouTube.
Investor Relations:
Steve Willoughby
(781) 663-5677
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Relations:
Chet Murray
(781) 663-5719
This email address is being protected from spambots. You need JavaScript enabled to view it.
WARSAW, Poland--(BUSINESS WIRE)--Westinghouse Electric Company has signed Memoranda of Understanding with 22 companies in Poland. The MoUs, signed in the presence of the U.S. Ambassador to Poland Mark Brzeziński, allow for cooperation on the potential construction of AP1000® reactors in the first Polish nuclear power plant and other potential AP1000 plant projects in Central Europe.
“The involvement of the Polish industry in the creation of the nuclear industry in the country and its first power plant is absolutely crucial. Polish industry and companies have a wealth of experience and know-how in the construction of power units of all kinds. Many of them also have experience in working on nuclear projects around Europe, which we want to make the most of. These memoranda open opportunities for cooperation not only for the Polish project but also potentially in the entire CEE region,“ said Mirosław Kowalik, President of Westinghouse Poland.
“The signing between Westinghouse and Polish suppliers is another key step in the strategic U.S.-Poland partnership on nuclear energy. Over the next several decades this project will create thousands of jobs in Poland and help build experience that can be used to support similar projects around the world,“ said Mark Brzezinski, U.S. Ambassador to Poland.
The memoranda establish cooperation with the following companies:
Westinghouse is a world leader in nuclear power and a provider of products and technologies for nuclear power plants. The company is one of three technology providers considered in the first Polish Nuclear Power Plant project.
About Westinghouse Electric Company
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe and innovative nuclear technologies to utilities around the world. Westinghouse delivered the first-ever commercial pressurized water reactor in 1957, and its technologies underpin nearly half of the world's operating nuclear power plants. Through innovation, Westinghouse has been the preferred partner for decades for technologies that cover the entire life cycle of a nuclear power plant. For more information, please visit our website and follow us on Facebook, LinkedIn and Twitter.
Media:
Cathy Mann
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--Marsh, the world’s leading insurance broker and risk advisor, today announced that US clients now have the option to pay their Marsh service fees in voluntary carbon offset credits and renewable energy certificates (RECs). The move — believed to be a first-of-its-kind in the financial services industry — is part of Marsh’s commitment to help accelerate the energy transition from fossil fuels to renewables and to recognize clients pursuing and exceeding net zero carbon emission goals.
Under the payment program, US Marsh clients can opt to pay for US insurance broking or risk advisory services by transferring agreed upon voluntary carbon offset credits and RECs to leading banking institution Bank of America, which has extensive experience with carbon markets, via a registry account. After receiving the credits and certificates, Bank of America will send the proceeds to Marsh.
“The insurance industry has a central role to play in enabling firms to achieve the climate goals set at COP26,” said Pat Donnelly, President, US and Canada, Marsh. “Marsh’s new carbon credit payment program demonstrates how investing in strong ESG frameworks can result in tangible benefits and complements other Marsh initiatives such as our ESG Risk Rating tool, which enables organizations to measure their environmental, social, and governance (ESG) performance. Being able to pay for Marsh’s services and solutions with these credits and certificates is a benefit for our clients seeking to preserve cash and provides another incentive to invest in carbon removal and avoidance projects.”
Paul Murray, a Senior Vice President in Marsh’s financial and professional liability (FINPRO) Practice, which developed the program, added: “Many companies currently make use of voluntary carbon offset credits and RECs as a part of their overall sustainability goals. With the recent passage of President Biden’s Inflation Reduction Act of 2022, which includes a number of incentives to spur the expansion of clean energy, we expect the use of credits and RECs to increase significantly.”
Voluntary carbon offset credits are records of investments organizations make in environmental projects and infrastructure that either remove carbon dioxide (CO2) or avoid the emission of CO2. Each offset represents the successful, verified removal or avoidance of one ton of CO2.
RECs are records of renewable electricity generation and are issued to organizations when one megawatt-hour (MWh) of electricity is generated and delivered to the electricity grid from a renewable energy resource.
About Marsh
Marsh is the world’s leading insurance broker and risk advisor. With over 45,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data-driven risk solutions and advisory services. Marsh is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people. With annual revenue of nearly $20 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. For more information, visit mmc.com, follow us on LinkedIn and Twitter or subscribe to BRINK.
Sally Roberts
Marsh
303.952.9453
This email address is being protected from spambots. You need JavaScript enabled to view it.
CYPRESS, Calif.--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo”) (NYSE: RMO), an energy storage technology company focused on designing and manufacturing lithium ion battery products and packs for vehicle electrification, today reminds all Romeo stockholders to tender their shares into the exchange offer (the “Offer”) by Nikola Corporation (“Nikola”) (NASDAQ: NKLA) to purchase all outstanding shares of common stock of Romeo by September 26, 2022 at midnight Eastern Time. On August 1, 2022, Nikola and Romeo jointly announced they had entered into a definitive agreement for this all-stock transaction.
The deadline to tender shares is midnight, Eastern Time, at the end of the day on September 26, 2022. If less than a majority of the outstanding shares of Romeo common stock are tendered, the Offer cannot be completed by Nikola.
Instructions on how to tender Romeo shares into the exchange offer and additional information about the Nikola transaction are outlined below.
HOW STOCKHOLDERS CAN TENDER THEIR SHARES
WHY STOCKHOLDERS SHOULD TENDER THEIR SHARES
The recommendation is more completely described in Romeo’s Solicitation/Recommendation Statement on Schedule 14D-9 previously filed by Romeo with the Securities and Exchange Commission on August 29, 2022.
WHAT HAPPENS IF STOCKHOLDERS DON’T TENDER THEIR SHARES
WHAT STOCKHOLDERS WILL RECEIVE FOR THEIR SHARES
About Romeo Power, Inc.
Founded in 2016 and headquartered in Cypress, California, Romeo (NYSE: RMO) is an energy storage technology company focused on designing and manufacturing lithium ion battery products and packs for vehicle electrification. Romeo’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo, follow Romeo on social media, @romeopowerinc or visit romeopower.com.
Additional Information and Where to Find It
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares. On August 29, 2022, Nikola Corporation (“Nikola”) filed a Registration Statement on Form S-4 (including a Prospectus/Offer to Exchange, a related Letter of Transmittal and other exchange offer documents with the U.S. Securities and Exchange Commission (the “SEC”) and may file additional amendments thereto, and Nikola and a wholly-owned subsidiary of Nikola filed a Tender Offer Statement on Schedule TO with the SEC and has and may file additional amendments thereto. In addition, on August 29, 2022, Romeo Power, Inc. (“Romeo”) filed a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC and has and may file amendments thereto. Nikola and Romeo may also file other documents with the SEC related to the transaction. This document is not a substitute for the Registration Statement, the Tender Offer Statement, the Solicitation/Recommendation Statement or any other document that Nikola or Romeo may file with the SEC related to the transaction (collectively, the “Exchange Offer Materials”). THE EXCHANGE OFFER MATERIALS CONTAIN IMPORTANT INFORMATION. ROMEO’S STOCKHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY (AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF ROMEO’S SECURITIES SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SECURITIES. The Exchange Offer Materials are available to all holders of r Romeo’s common stock at no expense to them. The Exchange Offer Materials are available for free at the SEC’s website at www.sec.gov. Additional copies may be obtained for free by contacting Investor Relations, Corporate Secretary at Romeo Power, Inc., 5560 Katella Ave, Cypress, CA 90630 (for documents filed by Romeo) or Investor Relations, Corporate Secretary at Nikola Corporation, 4141 E Broadway Road, Phoenix, Arizona 85040 (for documents filed by Nikola).
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, related to Romeo and the acquisition of Romeo by Nikola that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “contemplate,” “intend,” “believe,” “estimate,” “continue,” “goal,” “project” or the negative of such terms or other similar terms. Forward-looking statements in this report include, among other things, statements about the potential benefits of the proposed transaction, Romeo’s plans, objectives, expectations and intentions, the financial condition, results of operations and business of Romeo, and the anticipated timing of closing of the proposed transaction. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that could cause actual results to differ materially from those projected or otherwise implied by the forward-looking statements, including the following: risks related to the ability of Romeo to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including having a sufficient number of Romeo’s common stock being validly tendered into the exchange offer to meet the minimum condition; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; the negative side effects of the announcement or the consummation of the proposed transaction on the market price of Romeo’s common stock or on Romeo’s operating results; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed transaction, risks that Romeo is unsuccessful in integrating potential acquired businesses and product lines; risks of decreased revenues due to pricing pressures or lower product volume ordered from customers; risks that our products, and services fail to interoperate with third-party systems; potential price increases or lack of availability of third-party technology, battery cells, components or other raw materials that we use in our products; potential disruption of our products, offerings, and networks; our ability to deliver products and services following a disaster or business continuity event; risks resulting from our international operations, including overseas supply chain partners; risks related to strategic alliances; risks related to our ability to raise additional capital in the future if required; potential unauthorized use of our products and technology by third parties; potential impairment charges related to our long-lived assets, including our fixed assets and equity method investments; changes in applicable laws or regulations, including tariffs and similar charges; potential failure to comply with privacy and information security regulations governing the client datasets we process and store; the possibility that the novel coronavirus pandemic may adversely affect our future results of operations, financial position and cash flows; the possibility that Russia’s invasion of Ukraine may result in continued price increases or lack of availability of certain raw materials; and the possibility that we may be adversely affected by other economic, business or competitive factors. The foregoing factors should not be construed as exhaustive and should be read together with the other cautionary statements included in this and other reports we file with or furnish to the SEC, including the information in “Item 1A. Risk Factors” included in Part I of our Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent quarterly reports on Form 10-Q. If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate.
Nikola Media
Nicole Rose
This email address is being protected from spambots. You need JavaScript enabled to view it.
480-660-6893
Colleen Robar
This email address is being protected from spambots. You need JavaScript enabled to view it.
313-207-5960
Romeo Power Media
Chris Hodges or Joe Caminiti
This email address is being protected from spambots. You need JavaScript enabled to view it.
312-445-2870
In preparation for increased loads, end-to-end tools to support utilities’ residential EV programs
BOULDER, Colo.--(BUSINESS WIRE)--Uplight, the technology partner of energy providers transitioning to the clean energy ecosystem, today announced the launch of its Electric Vehicle (EV) Solution Suite, the only comprehensive, end-to-end set of software solutions for utilities to drive customer adoption and grid-friendly charging solutions for electric utility customers. Uplight’s configurable solution set will help utilities engage and activate their customers, manage related customer rate programs and orchestrate the related load increases in a seamless and affordable way.
According to research from the Smart Electric Power Alliance (SEPA) and Guidehouse, there will be more than 20 million EVs on the road in 2030, up significantly from 1.6 million in 2021, and they will account for an annual energy consumption of 93 terawatt-hours (TWh) in the U.S. With a vision toward this electrified future, Uplight developed the EV Solution Suite so that in the face of this increased demand, utilities can prepare both the grid and their customers for what’s to come.
“Nothing will impact grid demand and resiliency in the near future more than EVs,” said Justin Segall, Chief Strategy Officer of Uplight. “By acting comprehensively today, utilities can better enable the coming EV boom by helping customers become an asset to the grid, reduce carbon and save money. With our innovative EV Solution Suite, we have the tools to help utilities and their customers every step of the way.”
Research from Uplight found that only 36% of customers who purchase an EV are likely to contact their utility beforehand, requiring utilities to leverage new tools and channels to ensure customers are aware of their program offerings. To date, utilities have had to turn to point solutions to engage customers—resulting in a fragmented experience for both parties. Uplight’s EV Solution Suite is configurable and modular, making it easy and fast to implement the capabilities utilities need based on EV adoption in their territory.
Uplight’s EV solutions are live at several utilities including PSE&G New Jersey, where customers are able to participate in a Residential Off-Peak Credit and Demand Charge Rebate. Uplight’s EV Data Aggregation solution allows customers to share their EV charging data via Level 2 networked chargers, then on a monthly basis, customers can qualify for a bill credit for charging during off-peak hours.
"EVs are quickly adding load onto our grid and we need to forecast the future impact as accurately as possible,” said Dawn Neville, Manager Electric Transportation at PSE&G. “With Uplight’s solution suite, not only are we able to make sharing charger data simple and seamless for our customers, we’re also able to evaluate customers’ charging behavior behind the meter, enabling us to provide EV-only off-peak credits and promote good charging behavior.”
AES Indiana, an AES Company providing energy to over 500,000 customers in Indiana, has seen a 15% increase in click-through rates by leveraging Uplight’s EV propensity model to determine which customers are likely in the market to purchase an EV. From the email engagement, customers are brought to an educational site, hosted by Uplight, where they can learn about the benefits of off-peak and time-of-use (TOU) EV charging and explore buying options. From there, customers can be taken to the AES Indiana Marketplace provided by Uplight, where they can purchase a rebated EV charger and be pre-enrolled into their EV demand response program. This program has seen a 60% conversion rate from charger purchase to program enrollment during its first year of operation.
Uplight’s EV Solution Suite is the only utility-grade offering available that has all the critical components for utilities to manage residential EV programs. Utilities can contract the full suite or implement select modules to meet utility EV program goals. Modules include:
Uplight is also the only vendor to offer seamless integration with Qmerit, a strategic partner for EV supply equipment installation services. This partnership leverages Qmerit’s extensive electrification service implementation capabilities, including a national network of skilled EV Charger installers, to make buying and installing a charger with utility rebates more affordable and seamless for the energy customer.
To learn more about Uplight’s EV Solution Suite, please visit https://uplight.com/solutions/electric-vehicle-adoption-and-experience/.
About Uplight
Uplight is the technology partner for energy providers and the clean energy ecosystem. Uplight’s software solutions connect energy customers to the decarbonization goals of power providers while helping customers save energy and lower costs, creating a more sustainable future for all. Using the industry’s only comprehensive customer-centric technology suite and critical energy expertise across disciplines, Uplight is streaming the complex transition to the clean energy ecosystem for more than 80 electric gas utilities around the world. By empowering energy providers to achieve critical outcomes through data-driven customer experiences, delivering control at the grid edge, creating new revenue streams and optimizing existing load and assets, Uplight shares a mission with clients to make energy more sustainable for every community. Uplight is a certified B Corporation. To learn more, visit us at www.uplight.com, find us on Twitter @Uplight or on LinkedIn at Linkedincom/company/uplightenergy.
Liam Sullivan
This email address is being protected from spambots. You need JavaScript enabled to view it.
The prepayments for CO2 Removal Certificates will provide an early source of revenue for carbon removal projects, and are part of the Puro Accelerate program, which aims to help projects scale operations and meet demand from corporate buyers with sustainability and net zero commitments
HELSINKI--(BUSINESS WIRE)--#CO2Removal--Backed by Nasdaq, Puro.earth, the world’s first standard, registry and B2B marketplace for engineered carbon removal, is delighted to announce the launch of its new Pre-CORC units. Pre-CORCs are digital assets that represent validated projections of future carbon removal activities and can be purchased by corporations to prepay for projected carbon removal, providing an early source of revenue to scale projects. They can be traded on Puro.earth or via other marketplaces.
Each Pre-CORC represents one metric ton of future net negative emissions as calculated using one of the Puro Standard’s carbon crediting methodologies. After the carbon removal has been realized and independently verified, Pre-CORCs are converted into CO2 Removal Certificates, or CORCs. Only then can they be retired to support net zero claims. Puro.earth strengthens data availability, transparency and traceability of carbon assets by issuing the new digital prepayment innovation to the public Puro Registry.
The new digital asset forms part of Puro Accelerate, Puro.earth’s program to scale the carbon removal ecosystem. Puro Accelerate’s main objective is to help suppliers in early-stages or expansion to secure advance market commitments for their CORCs, which can help them raise equity and debt financing. Pre-CORCs complement these commitments by providing projects with an alternative source of funding.
To issue Pre-CORCs, a project will be subject to a rigorous commercial and technical risk assessment. In addition, Puro.earth has set strict rules to protect buyers. These measures were created to give buyers the confidence needed to secure their future supply of CORCs, possibly at a discounted rate. Pre-CORCs also offer buyers greater flexibility than traditional advance market commitments as they are tradeable.
Antti Vihavainen, CEO and co-founder at Puro.earth comments: “Right now, the capital for the much-needed, large-scale growth of the carbon removal industry is insufficient to reverse climate change. Buyers of negative emissions are eager to help the carbon removal industries to grow, but they want to be protected against price volatility and delivery uncertainty. The Pre-CORC framework mitigates those risks, for buyers and suppliers.”
Arnaud Defrance, VP Funding Solutions at Puro.earth comments: “Pre-CORCs as digital assets are our response to buyers who want to streamline procurement of their future CORCs from early projects, with full traceability. Pre-CORCs will now be issued in the Puro Registry, a big step forward for the carbon removal industry. Moreover, buyers will be able to play a direct role in enabling suppliers’ growth by filling real funding gaps. While we help lift impediments for suppliers, we also work hard to mitigate non-delivery risks for buyers by implementing a more holistic project assessment and setting strict rules for Pre-CORCs eligibility and issuance. We are also working on partnerships to offer CORC non delivery risk insurance for biochar projects.”
Engineered carbon removal is an innovative space which needs to reach its full potential fast. Initiatives, such as the Oxford Principles for Net Zero Aligned Carbon Offsetting and the Science Based Targets initiative (SBTi), are calling for corporations to gradually increase the share of carbon removals in their offsetting portfolios as they transition to net zero and contribute to the world’s climate goals. Puro Accelerate and the Pre-CORC units are designed to enable corporate buyers align their strategy to these initiatives by securing the increase of future supply of high-quality carbon removals.
-ENDS-
Note to editors:
Carbon removal is a process in which CO2 is physically captured from the atmosphere and stabilized into a durable storage. It is expected to play a critical role in keeping global warming below 1.5C degrees.
About Puro.earth
Puro.earth is the world’s first standard, registry and B2B marketplace focused solely on carbon removal. Our mission is to mobilize the world’s economy to reward carbon net-negative emissions. We do this by helping voluntary corporate buyers accelerate carbon dioxide removal at an industrial global scale. Puro.earth provides carbon removal as a service, through identifying suppliers, verifying their carbon removal and issuing CO2 Removal Certificates (CORCs), an integral part of long-term procurement portfolios to fulfil net-zero pledges. Aiming at climate and economic impact, Puro.earth is driving forward a market of carbon negative industries, enabling a new revenue stream to accelerate their growth. In 2021, Nasdaq acquired a majority stake in Puro.earth. Visit us at https://puro.earth or on LinkedIn Puro.earth CO2 Removal Marketplace and Twitter @PuroCO2Removal
For more information or to speak to Puro.earth, please contact This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Natural Gas Liquids Market By Product, By Application: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global Natural gas liquid market was valued at $16.9 billion in 2020, and is projected to reach $28.5 billion by 2030, growing at a CAGR of 5.4% from 2020 to 2030.
Natural Gas Liquids (NGLs) are those hydrocarbons in natural gas that are separated from the gas as liquids through various processes and the products thus obtained are majorly ethane, propane, butanes, pentane and pentane plus. These products can be used for heat, in cooking, as an energy source, laundry dryers, portable stoves, and in motor vehicles.
In addition, Natural gas liquids are the heavier hydrocarbons separated from raw natural gas to maintain the dew point and heating value of the finished products. The natural gas liquids (NGL) yield a source of revenue and are often sold separately like lighter NGL fractions (ethane, propane and butane) as refinery feedstock and heavier HCs as gasoline-blends.
The key factors responsible for driving natural gas liquids markets are increasing demand in petrochemical plants; increasing demand in refineries, high demand from industrial and residential consumers. Some of the other factors responsible for driving this market are developments in natural gas business; increasing utilization of associated gas; traditional dry gas, is being replaced by wetter non-associated gas in some countries.
Restraining factors to this market are lack of infrastructure to handle NGLs, tough competition from other energy producing products such as methane gas, bio gas, and many more. The rapid growth of NGL production has also outpaced the development of supporting infrastructure. NGLs are expensive to transport and handle-requiring high pressures and low temperatures to keep them in a liquid state for shipment. A network of processing plants and distribution methods is necessary to move NGLs from well to market. Moreover, the surplus of NGLs brought upon by domestic production growth is increasing the need for infrastructure to aid in the exportation of NGLs internationally and the storage of NGLs domestically. The opportunity lies in developing the infrastructure for NGLs.
Key Benefits For Stakeholders
Key Market Segments
By Product
By Application
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/l530yi
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
ABU DHABI, United Arab of Emirates--(BUSINESS WIRE)--Abu Dhabi will host the second Investopia annual conference on 1 - 2 March 2023, under the theme ‘envisioning opportunities in times of change’, in collaboration with Abu Dhabi Department of Economic Development (ADDED).
Investopia 2023 date has been announced by H.E. Abdulla Bin Touq Al Marri, UAE Minister of Economy, during a business session organised by Investopia and ADDED in Abu Dhabi, attended by Investopia partners, senior officials, and CEOs from public and private sectors.
Investopia 2023 will discuss the shifts in the global investments amid developments that have created new economic concepts related to virtual reality, sustainable and green economy.
H.E. Bin Touq said: "The challenges currently facing global economies have highlighted the strategic need to develop more solutions through new economic sectors capable of meeting the requirements of sustainable development and generating growth opportunities. Investopia annual conference, in its new edition next year, will address a new generation of investment opportunities in transport technology, climate, food and energy, which have become a real bet for sustainable development and basic pillars of future economies.”
H.E. Bin Touq underlined that the UAE has set an ambitious goal for the next 50 years to transition to a new development model that is more open to the world and based on advanced technologies, talents, creativity and emerging ideas. He noted that Investopia is one of the leading initiatives that supports the national ambitions, provides a new space to promote global investment dialogue, and contribute to the launch of innovative ideas that create new and sustainable growth opportunities.
H.E. Mohamed Ali Al Shorafa, Chairman of ADDED, said: “co-organising the second edition of the Investopia conference is in line with our efforts to further build on the UAE’s reputation as a global investment hub, and cements Abu Dhabi’s position as an active and thriving and preferred business hotspot”.
“Abu Dhabi has nurtured a supportive business environment, unparalleled connectivity and infrastructure, and an entrepreneurial mindset that presents investors with growth opportunities. We believe Investopia, which is one of the major strategic initiatives under the ‘Projects of the 50’, is the right platform to discuss current and future economic trends and ways to enhance our national economy's competitiveness,” H.E. Al Shorafa concluded.
*Source: AETOSWire
Wajd Breek
This email address is being protected from spambots. You need JavaScript enabled to view it.
Fortium Holdings Corp formally changes its name to White River Energy Corp
Rebranding initiative in line with strategic initiative to focus exclusively as a vertically integrated oil and gas exploration and production company
FAYETTEVILLE, Ark.--(BUSINESS WIRE)--Fortium Holdings Corp (OTC: FRTM), today announced that following majority shareholder approval on September 16, 2022, it formally changed its name to White River Energy Corp (“White River”). Additionally, White River has formally discontinued operations in its cannabis business, Elysian Premium Corp, and its retail sporting goods business, Norr LLC, and has divested both subsidiaries. White River has submitted an application to the Financial Industry Regulatory Authority to change its trading symbol.
“We are excited to announce this rebranding and renaming initiative so we can focus all efforts on developing our more than 30,000 acres of oil and gas mineral leases in Louisiana and Mississippi through a vertically integrated business model,” stated Randy May, White River Executive Chairman.
Jay Puchir, White River CEO added, “We believe that divesting from these nascent businesses is in the best interest of the Company and our shareholders.”
About White River Energy Corp
White River’s principal subsidiary is White River Holdings Corp. which is engaged in oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Louisiana and Mississippi.
Fortium Holdings Investors:
This email address is being protected from spambots. You need JavaScript enabled to view it. or 1-800-203-5610
COLUMBUS, Ohio--(BUSINESS WIRE)--Bread FinancialTM (NYSE: BFH), a tech-forward financial services company that provides simple, flexible payment, lending and saving solutions, today announced a gift to The Nature Conservancy (TNC) that will support nature-friendly economic development opportunities in low-to-moderate income communities in the Appalachians and back the conservancy’s efforts to sustainably manage, restore and protect forests. An additional donation to The Nature Conservancy India will support its efforts to provide access to clean energy.
The recent donation marks the second consecutive year that Bread Financial has supported the mission of TNC and its work to protect our planet and combat climate change through actions that limit the rise of average global temperatures. In the Appalachians, Bread Financial will support TNC’s investments in natural climate solutions, including its efforts to sustainably manage, restore and protect forests and other lands, while in India, the donation will aid wind and solar projects that will help the country meet its renewable energy goals.
Committed to empowering the financial wellness of communities, Bread Financial’s sustainability goals also align with the conservancy’s efforts to generate nature-friendly economic development and jobs. The donation will support the financial wellness of communities and people in need by providing people in the Appalachians who are below the poverty line with sustainable, eco-friendly economic opportunities.
“Bread Financial recognizes the importance of environmental stewardship and the risks that environmental challenges, including climate change, increasingly pose to our business, our associates, our clients, our customers, and the communities we serve,” said Ralph Andretta, president and chief executive officer, Bread Financial. “I am proud to share the positive impact our actions and investments are making to protect and preserve our planet while also promoting financial wellness.”
“We’re thrilled to receive this donation from Bread Financial, which supports TNC’s commitment to accelerating the responsible management of our landscapes in ways that can improve people’s lives,” said Angie Watland, Director of the Central Appalachians Program, The Nature Conservancy. “The health of our natural areas is inextricably linked to the health and well-being of our communities. We are all united by nature and conservation should embody that.”
Bread Financial’s gift to TNC supports multiple programs across the organization, including:
Bread Financial is a purpose-driven financial services company, intent on exploring and implementing sustainable practices throughout its business and operations. Its commitment to protecting our planet includes measures to reduce the waste it sends to landfills, cultivating a more sustainable supply chain and reducing its greenhouse gas emissions.
To learn more about Bread Financial’s commitment to sustainability, visit BreadFinancial.com. For more information about The Nature Conservancy, visit Nature.org.
About Bread Financial
Bread FinancialTM (NYSE: BFH) is a tech-forward financial services company providing simple, personalized payment, lending and saving solutions. The company creates opportunities for its customers and partners through digitally enabled choices that offer ease, empowerment, financial flexibility and exceptional customer experiences. Driven by a digital-first approach, data insights and white-label technology, Bread Financial delivers growth for its partners through a comprehensive product suite, including private label and co-brand credit cards, installment lending, and buy now, pay later (BNPL). Bread Financial also offers direct-to-consumer solutions that give customers more access, choice and freedom through its branded Bread CashbackTM American Express® Credit Card and Bread SavingsTM products.
Formerly Alliance Data, Bread Financial is an S&P MidCap 400 company headquartered in Columbus, Ohio, and committed to sustainable business practices powered by its 6,000+ global associates. To learn more about Bread Financial, visit BreadFinancial.com or follow us on Facebook, LinkedIn, Twitter and Instagram.
About The Nature Conservancy
The Nature Conservancy is a global conservation organization dedicated to conserving the lands and waters on which all life depends. Guided by science, we create innovative, on-the-ground solutions to our world's toughest challenges so that nature and people can thrive together. We are tackling climate change, conserving lands, waters and oceans at an unprecedented scale, providing food and water sustainably and helping make cities more sustainable. Working in 79 countries and territories, we use a collaborative approach that engages local communities, governments, the private sector, and other partners.
Bread Financial
Rachel Stultz — Media
614-729-4890
This email address is being protected from spambots. You need JavaScript enabled to view it.
Gov. Hochul mandates 100% clean electricity by 2030
REDWOOD CITY, Calif.--(BUSINESS WIRE)--As part of a major sustainability effort, New York State Gov. Kathy Hochul has issued an executive order mandating that NY state agencies use the NY Power Authority’s NY Energy Manager application, a system developed and deployed with C3 AI (NYSE: AI), the leading enterprise AI software application company.
“We are pleased to receive such broad recognition and confidence in our enterprise AI energy management solution,” said Ed Abbo, President and CTO of C3 AI. “This is great validation in the work C3 AI has done with our longtime customer, the NY Power Authority, and we look forward to helping Governor Hochul achieve her goal of making New York’s public sector operations more sustainable.”
Among the many other goals spelled out in Executive Order 22, enabled by C3 AI, is a mandate for state operations to run on 100% clean electricity by 2030.
The NY Energy Manager application, built on C3 AI Energy Management, has already been deployed to about 1,000 customers, including communities, businesses, municipalities, and electricity providers in New York. It will now serve as the system of record for all energy data from all state agencies.
Gov. Hochul’s action comes amid rising global demand for environmental, social, and governance (ESG) solutions. C3 AI Energy Management unifies all energy-related data in one platform, enabling near real time tracking and mitigation of the state’s energy and greenhouse gas footprint. The most recent product release, C3 AI ESG, enables reporting of Scope 1, Scope 2, and Scope 3 emissions consistent with all regulatory reporting standards.
About C3.ai, Inc.
C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Application Platform, an end-to-end platform for developing, deploying, and operating enterprise AI applications and C3 AI applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally.
C3 AI Public Relations
Edelman
Lisa Kennedy
415-914-8336
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Senate ratification elevates U.S. commitment to the health of the planet and establishes strong foundations for competitive advantage across multiple American businesses and industries
WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, commends the U.S. Senate for ratifying the Kigali Amendment to the Montreal Protocol. The U.S. joins approximately 140 other parties that have joined the international agreement to decrease the production and consumption of hydrofluorocarbons (HFCs) by more than 80% over the next 30 years.
Global implementation of the HFC phasedown called for by the American Innovation & Manufacturing (AIM) Act and the Kigali Amendment would address a contributor to climate change, avoiding up to 0.5 degrees Celsius in temperature increases by 2100. In addition, the U.S. ratification of the Kigali Amendment will extend the benefits of the AIM Act, which Chemours has endorsed, further advancing sustainability initiatives as well as providing competitive advantages for U.S. companies and products in the global marketplace.
“The U.S. Senate’s ratification of the Kigali Amendment is another significant step forward for our country, our planet, and companies such as Chemours that have long been committed to providing the leadership and innovation necessary to allow society to operate in the most healthy, comfortable, and environmentally responsible way possible,” said Alisha Bellezza, President, Thermal & Specialized Solutions at Chemours. “From driving global sustainability goals forward, to empowering U.S. employment, manufacturing, and trade that will support a vibrant economy, this ratification offers advantages on many levels that are integral to the refrigeration, air conditioning, foam blowing agent, and other industries. Chemours is dedicated to helping the industries and communities we serve navigate regulatory and market changes in ways that best support their businesses and lives.”
Chemours has been consistent in its support of the orderly global phasedown of HFCs, which delivers environmental and economic benefits as nations continue to take important steps to address climate change. To support its customers and the planet, Chemours has invested over one billion dollars in its Opteon™ branded portfolio of low global warming potential (GWP) hydrofluoroolefin (HFO) and HFO-blend thermal management technology.
The company has invested more than one billion dollars in product innovation, manufacturing assets, and downstream product and application development enabling Chemours’ customers and value chain partners to successfully transition to more sustainable solutions in their respective applications. Most recently, Chemours announced a new $80 million capacity expansion project at its facility in Texas to support customers’ growth and a sustainable future. The investment, along with on-going de-bottlenecking projects, will further increase site production capacity of Opteon™ YF (HFO-1234yf) by approximately 40%.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release 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, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
INVESTORS
Jonathan Lock
SVP, Chief Development Officer
+1.302.773.2263
This email address is being protected from spambots. You need JavaScript enabled to view it.
Kurt Bonner,
Manager, Investor Relations
+1.302.773.0026
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEWS MEDIA
Cassie Olszewski
Media Relations and Financial Communications Manager
+1.302.219.7140
This email address is being protected from spambots. You need JavaScript enabled to view it.
LEIPZIG, Germany & WASHINGTON & CHICAGO--(BUSINESS WIRE)--EEX Group and IncubEx announced today a new cooperation agreement, extending their collaboration to grow and expand listed environmental markets on EEX and Nodal Exchange.
The long-term agreement extends the collaboration and builds on the significant progress made since the initial cooperation between EEX Group and IncubEx which increased the environmental product range and liquidity in European and North American markets.
In Europe, EEX and IncubEx bolstered EEX’s listed European Union Allowance (EUA) derivatives market into the second leading exchange venue. Open Interest market share in the EUA futures contract has increased from 5% in 2017 to 22% today. Collectively, EEX and Nodal Exchange – the US arm of EEX Group – now offer the broadest global suite of listed environmental futures and options contracts, including carbon allowances and offsets, renewable energy certificates (RECs) and renewable fuel credits. The cooperation between IncubEx and EEX Group successfully started in Europe and was later extended to North America.
“Sustainability is our future – as an exchange and as human beings,” said Peter Reitz, CEO of EEX. “We are committed to further developing global environmental markets together with IncubEx. That's why it wasn't difficult for us to extend the joint cooperation agreement.”
In North America, IncubEx worked with Nodal Exchange to launch its first environmental contracts in 2018. Since then, Nodal has listed more than 100 distinct environmental products, complementing Nodal's core power and natural gas futures contracts. Open Interest market share in North American environmental products on Nodal Exchange has increased from zero to over 17% today.
“Combining the environmental expertise of IncubEx with the exchange and clearing expertise of Nodal has resulted in an outstanding environmental futures and options offering to better meet the needs of market participants in North America,” said Paul Cusenza, Nodal CEO. “We are proud of our global cooperation with EEX, Nodal and IncubEx which allows us to play a role, with our market stakeholders, in contributing to a global effort to better meet the challenges we are all facing with climate change and preserving our planet for the future.”
Since 2017, over 5.1 million contracts in European and North American carbon products have transacted within the cooperation, representing 5.1 billion tons of CO2. Furthermore, more than 444,000 contracts in renewable energy certificate (REC) contracts (representing almost 130 million MWh) have traded on Nodal, reaching an open interest record in May 2022 of just under 180,000 contracts (representing 44 million MWh).
The cooperation was recently expanded with a wide range of products for the voluntary carbon markets (VCM). The EEX Group VCM contract suite covers four different products, aimed at striking a balance between standardisation, on the one hand, and catering for different customer preferences, on the other.
"When IncubEx was founded in 2016, we believed there was an urgent need for a dedicated team solely focused on developing environmental markets with the right exchange partners," said Michael MacGregor, IncubEx CEO. "By working with EEX and Nodal, we have established significant market share, which has cemented our partnership as innovators in environmental markets but more importantly delivered products and solutions to serve our global customer base and accelerating further growth within the environmental markets. Looking forward, there is tremendous momentum bolstered by unprecedented support for net zero goals and market-based solutions to address environmental issues."
IncubEx was founded by key executives from the Chicago Climate Exchange (i.e., Climate Exchange plc), which established the first voluntary, but legally binding carbon market in the world.
EEX Group builds secure, successful and sustainable commodity markets worldwide – together with its customers. The group offers trading in power, natural gas, environmental products, freight and agriculturals as well as subsequent clearing and registry services, connecting a network of more than 800 trading participants. EEX Group consists of European Energy Exchange (EEX), EPEX SPOT, EEX Asia, Power Exchange Central Europe (PXE) and Nodal Exchange as well as the registry provider Grexel Systems and software companies KB Tech and Lacima. Clearing is provided by EEX Group’s clearing houses European Commodity Clearing (ECC) and Nodal Clear. EEX Group is part of Deutsche Börse Group. More information: www.eex-group.com
About IncubEx:
IncubEx is an incubator for products, services and technology solutions in environmental markets with partners and stakeholders to design and develop new financial markets, technologies and trading solutions in global environmental, climate risk, and related commodity markets. The company works in conjunction with its global exchange partner, European Energy Exchange (EEX) and its U.S. subsidiary, Nodal Exchange. The IncubEx team is led by former key executives from Climate Exchange, which pioneered exchange based environmental trading and CCX, the world’s first and only voluntary, but legally binding greenhouse gas emission reduction and trading program. IncubEx, a privately held company founded in 2016 with offices in Chicago and London, is uniquely positioned to capture these opportunities globally with its partners. For more information, please visit https://theincubex.com/
Nodal
Nicole Ricard
Nodal Exchange Public Relations
P: 703-962-9816
This email address is being protected from spambots. You need JavaScript enabled to view it.
JENBACH, Austria--(BUSINESS WIRE)--INNIO and TIWAG today announce that TINEXT, a TIWAG (Tiroler Wasserkraft AG) subsidiary, will supply INNIO’s primary operations in Jenbach with green hydrogen (H2) by 2025. At the same time, excess power and heat will be fed into the local power grid and district heating network. Once sufficient quantities of green hydrogen are available, additional areas of application are planned, such as supplying an INNIO plant gas station or refueling local logistics companies’ vehicles.
As part of the joint project, INNIO will install an electrolysis unit on the premises of TIWAG’s Achensee power plant that will convert green electricity into green hydrogen. In turn, TINEXT will construct the compression and storage terminals. The hydrogen, a key component in the energy transition, will be transported via pipeline from TINEXT to INNIO’s main operations in Jenbach, where it will primarily be used for hydrogen engine test runs.
“The hydrogen agreement with TIWAG and TINEXT is another milestone on our path to net zero at our site in Jenbach,” said Olaf Berlien, president and CEO of INNIO. “We have committed to reducing emissions from our production sites around the world by up to 50% by 2030. The products of the future are being developed here in our INNIO360 Energy Lab, where we demonstrate how the energy transition works.”
“Using green hydrogen to generate power is an important step on INNIO’s journey to significantly reduce the carbon footprint of the site in Jenbach,” said Martin Mühlbacher, vice president and site manager in Jenbach. “Along with the use of a photovoltaic system, hydropower plant, battery storage, storage water heater (power-to-heat), and electromobility, this will make an important contribution to implementing our broad-ranging sustainability strategy.”
“This pioneering hydrogen project is a central element of Tyrol’s energy strategy of phasing out the use of fossil fuels. With this agreement, INNIO and TIWAG are showing how the transition to an energy-autonomous and climate-neutral energy supply for industrial companies can be realized,” commented TIWAG managing director Dipl.-Ing Thomas Gasser. “TIWAG has been using hydropower to generate green electricity in Jenbach for almost 100 years. As of this summer, this is supported by a large photovoltaic system. It is all the more gratifying that our subsidiary TINEXT is now suppling green hydrogen for our customer and partner INNIO at this location, which has a long tradition in power generation.”
The availability of green hydrogen is an important prerequisite for the sustainable, economic, and timely implementation of INNIO’s hydrogen strategy. The company began offering all new Jenbacher engines with a “Ready for H2” option this year.
About TIWAG
TIWAG, the state energy utility owned by the State of Tyrol, is tasked with providing a secure, sustainable, and integrated energy supply for Tyrol. The TIWAG Group supports the European and national energy goals and is a driving force behind the ecological transition in Tyrol’s power, gas, and heat supply. TINEXT – TIWAG Next Energy Solutions GmbH, the 100% subsidiary established in 2021, supports the energy transition in the fields of hydrogen, photovoltaics, renewable heat, and electromobility.
About INNIO
INNIO is a leading energy solution and service provider that empowers industries and communities to make sustainable energy work today. With our product brands Jenbacher and Waukesha and our digital platform myPlant, INNIO offers innovative solutions for the power generation and compression segments that help industries and communities generate and manage energy sustainably while navigating the fast-changing landscape of traditional and green energy sources. We are individual in scope, but global in scale. With our flexible, scalable, and resilient energy solutions and services, we are enabling our customers to manage the energy transition along the energy value chain wherever they are in their transition journey.
INNIO is headquartered in Jenbach (Austria), with other primary operations in Waukesha (Wisconsin, U.S.) and Welland (Ontario, Canada). A team of more than 3,500 experts provides life-cycle support to the more than 54,000 delivered engines globally through a service network in more than 80 countries.
INNIO’s ESG Risk Rating places it number one of more than 500 worldwide companies in the machinery industry assessed by Sustainalytics.
For more information, visit INNIO’s website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
Susanne Reichelt
INNIO, Media Relations
+43 664 80833 2382
This email address is being protected from spambots. You need JavaScript enabled to view it.
BOSTON--(BUSINESS WIRE)--MPO today announced their recognition by Nucleus Research as a Leader in the 2022 Control Tower Value Matrix. We believe that in today’s highly volatile and increasingly complex global supply chains, businesses are recognizing the critical need for visibility beyond just transportation. We’re proud to be seen as a leading platform providing organizations with real-time visibility and instant control over orders, inventory, logistics, and transportation.
“The growing ecosystem of multi-enterprise partners and systems (ERP, WMS, CRM, APS), are putting a strain on organizations’ ability to view and orchestrate their end-to-end operations,” says Martin Verwijmeren, CEO and Co-Founder of MPO. “We’re proud to offer a comprehensive supply chain execution platform that unifies the multi-multi landscape of parties, systems, and processes, empowering businesses to digitize, optimize and innovate their supply chains across inbound, outbound, and return flows. We also extend our congratulations to Kinaxis on their own placement in the Leaders quadrant, we are proud to be a Kinaxis company.”
This news comes in the wake of many recent initiatives of the company, including a leading LATAM 4PL selecting the MPO Control Tower for its global expansion through EMEA and Asia, as well as its recent acquisition by fellow Nucleus Control Tower Value Matrix Leader, Kinaxis. The combination of Kinaxis RapidResponse® planning and MPO’s Multi Party Orchestration execution will uniquely deliver a complete real-time picture of every order across the lifecycle – from planned commitment through ultimate delivery.
About MPO: MPO, a Kinaxis company, offers a unified cloud platform for Multi Party Orchestration. The platform complements existing enterprise systems with visibility and control, and optimizes order, inventory, and transportation across dynamic, multi-party networks. MPO helps diverse brand owners and logistics service providers embrace the increasing complexity of their global, regional, and domestic supply chains to become faster, more flexible, agile, compliant, and reliable to their customers. For more information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it. or visit www.mpo.com.
Media Relations
Jaime Cook | Kinaxis
This email address is being protected from spambots. You need JavaScript enabled to view it.
289-552-4640
Investor Relations
Rick Wadsworth | Kinaxis
This email address is being protected from spambots. You need JavaScript enabled to view it.
613-907-7613
Deployment of OSDU data platform will break data silos and accelerate time to value
LONDON--(BUSINESS WIRE)--Schlumberger announced today that it has been selected by Wintershall Dea as its preferred partner on the acceleration of its Terra Nova subsurface transformation program. Working with Microsoft, Schlumberger was first to contribute the open source code of its DELFI* Data Ecosystem to the OSDU™—a single reference cloud-based data platform—which Wintershall Dea will leverage to accelerate the delivery of its subsurface data platform to support its business in making smarter decisions, faster.
“Wintershall Dea will use Schlumberger’s ready-to-deploy Enterprise Data Management solution built specifically for the OSDU to connect people, applications and data that drives its business,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “The openness we helped realize for the OSDU, by making the largest contribution of code to the platform at an early stage, is now unlocking value for Wintershall Dea—democratizing its data, making its systems interoperable and maximizing business performance.”
“Signing with Schlumberger as strategic partner marks the kick-start of Wintershall Dea’s OSDU-enabled data-driven future and accomplishes our efficient data hub strategy,” said Hugo Dijkgraaf, chief technology officer, Wintershall Dea.
“With the deployment of the OSDU Data Platform, Wintershall Dea aims to analyze data more efficiently, search and discover data more rapidly, and take advantage of new cloud-based applications and emerging digital innovations,” commented Kathrin Dufour, senior vice president, Digitalization & Technology, Wintershall Dea.
The contract is for one year and will focus on deploying the OSDU in Wintershall Dea’s Microsoft Azure cloud and integrating it with petrotechnical workflows and data science tools to validate that data accessibility, exchangeability and time-to-value for new digital solutions can be improved. Schlumberger and Microsoft have a strategic partnership to accelerate new technologies for the energy industry, including the creation of an energy data platform for the OSDU Data Platform.
About Schlumberger
Schlumberger (NYSE: SLB) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, Schlumberger collaborates to create technology that unlocks access to energy for the benefit of all.
For more information, visit www.slb.com.
About Wintershall Dea
Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business. More in our Annual Report.
As a European gas and oil company, we support the EU's 2050 carbon neutrality target. As our contribution we have set ourselves ambitious targets: We want to be net zero across our entire upstream operations – both operated and non-operated – by 2030. This includes Scope 1 (direct) and Scope 2 (indirect) greenhouse gas emissions on an equity share basis. Wintershall Dea will also bring its methane emissions intensity below 0.1 per cent by 2025 and maintain zero routine flaring of associated gas in its operations. In addition, we plan to reduce emissions resulting from the use of hydrocarbons by applying CCS and low-carbon hydrogen technologies, potentially building up a business abating 20-30 million tonnes of CO2 per annum by 2040. You can find more about this in our Sustainability Report.
Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,500 people worldwide from almost 60 nations.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “aspire,” “aim,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as forecasts or expectations regarding the deployment of, or anticipated benefits of, digital technologies and partnerships. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from digital strategies, initiatives or partnerships; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
*Mark of Schlumberger.
Media
Moira Duff – Director of External Communications, Schlumberger Limited
Tel: +1 (713) 375-3407
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors
Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited
Joy V. Domingo – Director of Investor Relations, Schlumberger Limited
Tel: +1 (713) 375-3535
This email address is being protected from spambots. You need JavaScript enabled to view it.
--(BUSINESS WIRE)--#Climate23--Battelle will again convene experts from government, private industry and academia in person to share technology breakthroughs and action plans to mitigate the effects of human-made climate change on March 28-30, 2023. The Innovations in Climate Resilience Conference will take place for a second year in Columbus, Ohio. The conference is organized and presented by Battelle in collaboration with its U.S. Department of Energy national lab partners and will feature keynote addresses, platform talks, panel discussions, breakout meetings and poster sessions.
Call for abstracts: Abstract submittals are encouraged and open until Sept. 30, 2022 on the following themes:
Lightning Talk Proposals: (Due October 31) Young professionals (5 years or less since highest degree conferred) focused on cutting-edge, breakthrough technology, relevant to the overall technical scope of the conference.
Live Demonstration Proposals: (Due October 31) Open to anyone. Generate exposure, demonstrate use, or solicit feedback for a technology, software, prototype, or tool in hands-on demonstration or user experience.
Media participation: Attendance by media is encouraged and verified members of the media may register without conference fees.
More: An Inside Battelle blog by Tech Fellow Justin Sanchez describes what the Inflation Reduction Act means for climate resilience. Blogs about the conference and a variety of Battelle subjects can be found here.
Social media/hashtags: Battelle’s handle on Facebook, LinkedIn and Twitter is @Battelle and on Instagram at @Battelle_Insider. #IRC23 #Climate23
On-demand keynote speakers and panel videos from the inaugural Innovations in Climate Resilience can be found here.
About Battelle
Every day, the people of Battelle apply science and technology to solving what matters most. At major technology centers and national laboratories around the world, Battelle conducts research and development, designs and manufactures products, and delivers critical services for government and commercial customers. Headquartered in Columbus, Ohio since its founding in 1929, Battelle serves the national security, health and life sciences, and energy and environmental industries. For more information, visit www.battelle.org.
Katy Delaney
(614) 424-7208
This email address is being protected from spambots. You need JavaScript enabled to view it.
T.R. Massey
(614) 424-5544
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.