BitNile to Distribute to its Stockholders Approximately 140 Million Shares and Warrants to Purchase an Equal Number of Shares of TurnOnGreen
LAS VEGAS--(BUSINESS WIRE)--$AP #AmosKohn--BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), announced a divestiture of the Company’s subsidiary, TurnOnGreen, Inc. (“TurnOnGreen”), an electric vehicle (“EV”) charging and power solutions company, to Imperalis Holding Corp. (OTC Pink: IMHC) (“Imperalis”), a publicly traded subsidiary of BitNile. Completing this transaction constitutes a significant step in BitNile’s planned distribution of TurnOnGreen’s securities to its stockholders.
Today TurnOnGreen closed upon the securities purchase agreement with Imperalis, whereby Imperalis acquired all of the outstanding shares of common stock of TurnOnGreen from BitNile (the “Acquisition”). As a result of the Acquisition, TurnOnGreen became a subsidiary of Imperalis.
As part of the Acquisition, BitNile eliminated all of the intercompany accounts between itself and TurnOnGreen evidencing historical equity investments made by BitNile in the approximate amount of $36,000,000, and Imperalis issued BitNile 25,000 shares of Series A Preferred Stock, with each such share having a stated value of $1,000. The Series A Preferred Stock has an aggregate liquidation preference of $25 million, is convertible into shares of Imperalis common stock at BitNile’s option, is redeemable by BitNile, and entitles BitNile to vote with the common stock on an as-converted basis.
Imperalis, which intends to change its name to TurnOnGreen as soon as practicable, will operate through TurnOnGreen’s two subsidiaries, TOG Technologies Inc. and Digital Power Corporation. Imperalis intends to dissolve its remaining dormant subsidiary. Now that the Acquisition is completed, BitNile will assist TurnOnGreen in pursuing an uplisting to the Nasdaq Capital Market, subject to Nasdaq’s seasoning rules and other criteria for listing.
The Company anticipates setting a record date soon whereby stockholders of BitNile will receive a dividend of securities of TurnOnGreen. BitNile expects to distribute to BitNile’s stockholders approximately 140 million shares of TurnOnGreen common stock and warrants to purchase an additional 140 million shares of TurnOnGreen common stock, subject to regulatory approval and compliance with US federal securities laws. The Company plans to cause Imperalis to apply to have the warrants publicly traded.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are excited to close the acquisition of TurnOnGreen by Imperalis, resulting in TurnOnGreen becoming a publicly traded company. TurnOnGreen is dedicated to enabling the electrification of American vehicles and its participation in reshaping the nation’s infrastructure to support green technology. We believe this transaction, creating a pureplay public company focused on EV chargers and power solutions, will be accretive in value for our stockholders.”
Upon the closing of the Acquisition, Imperalis appointed Amos Kohn as its Chief Executive Officer and the Chairman and member of its Board of Directors, as well as appointed Marcus Charuvastra as the President of Imperalis.
“We look forward to leveraging the public markets to drive the development and distribution of TurnOnGreen’s innovative technology,” said Amos Kohn, CEO of Imperalis. “TurnOnGreen has a team of experienced professionals, and we look forward to the planned distribution whereby stockholders of BitNile will become stockholders of TurnOnGreen. Together, we will continue the journey to deliver on the vision of making green energy technology a part of everyday life.”
Update Call
The Company will host a conference call at 2:00 PM Pacific Time on Tuesday, September 6, 2022, to provide a summary on the completed Acquisition of TurnOnGreen by Imperalis and the planned distribution of securities to BitNile’s stockholders. The update call will be open to the public. Stockholders, investors, and interested parties who would like to participate in the webcast should use the following link to register in advance. Registration link: https://us06web.zoom.us/webinar/register/WN_qqYTeE06SbCyIIgYF5QV7A
Please direct any questions regarding obtaining access to the conference call to BitNile via e-mail, at This email address is being protected from spambots. You need JavaScript enabled to view it., or by calling 1-888-753-2235.
For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.
For more information on BitNile Holdings and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.
This announcement is for information purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including oil exploration, defense/aerospace, industrial, automotive, medical/biopharma, karaoke audio equipment, hotel operations and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
About TurnOnGreen, Inc.
TurnOnGreen Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located at Milpitas, CA; www.TurnOnGreen.com.
Forward-Looking Statements
This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.
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Live Presentation on Thursday, September 8, 2022, at 1:00 PM ET
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, today announced Darren Jamison, President and CEO, will be participating in the Water Tower Research Fireside Chat Series on Thursday, September 8, 2022, at 1:00 PM ET.
This event is open access for all investors to participate. Topics will include:
Interested parties can register for the event at the link below. Replays of the webcast will also be available after the event.
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.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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DENVER--(BUSINESS WIRE)--Liberty Energy Inc. (NYSE: LBRT) announced today an investment in Natron Energy, a global leader in the manufacturing of sodium-ion batteries. Liberty and Natron will collaborate to introduce sodium-ion batteries as an energy storage solution to provide uninterruptible backup power for Liberty’s digiFrac™ electric frac pumps. Liberty’s digiFrac is the industry’s first purpose-built, fully integrated electric frac pump with high power density and significantly lower emissions compared to the best available frac pump technology in the market. Natron’s sodium-ion batteries are expected to be used to maximize uptime and optimize generator utilization ensuring the lowest possible emissions footprint for onsite power generation.
Natron plans to use the funds to accelerate the production of its sodium-based battery technology, including industrial power and energy markets. Natron’s Prussian blue sodium-ion technology offers higher power density, longer service life, and unique safety characteristics over other battery technologies. These qualities are crucial for the safe and successful deployment in pressure pumping applications with highly variable power load requirements. Natron leverages existing lithium-ion manufacturing facilities for production, and its supply chain requires zero lithium, cobalt, copper, nickel, or other minerals that are difficult to source.
“Liberty leads the completion services industry in technology invention and our investment in the pioneer of sodium-ion battery development is a testament to these efforts. The careful evaluation of sources of energy storage for our power-dense operations led our team to determine that Natron’s sodium-ion batteries are a safe, cost-effective solution that is already being utilized in industrial applications,” commented Ron Gusek, President of Liberty. “Together, Liberty’s digiFrac and Natron’s batteries will advance environmental, social and corporate governance (ESG) goals of reducing emissions, maintaining high safety standards, and delivering a low total cost of ownership solution to Liberty’s customers.”
Colin Wessells, Ph.D., Natron Co-Founder and CEO, said, "Our partnership with Liberty dramatically accelerates Natron's expansion into oil and gas markets with the introduction of battery storage in the completion services industry. With the investment and support of Liberty, Natron is accelerating its manufacturing plans for the world's first mass production of sodium-ion batteries."
About Liberty
Liberty is a leading North American energy services firm that offers one of the most innovative suites of completion services and technologies to onshore oil and natural gas exploration and production companies. Liberty was founded in 2011 with a relentless focus on developing and delivering next generation technology for the sustainable development of unconventional energy resources in partnership with our customers. Liberty is headquartered in Denver, Colorado. For more information about Liberty, please contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Natron Energy
Natron Energy manufactures sodium-ion battery products based on a unique Prussian blue electrode chemistry for a wide variety of industrial power applications ranging from critical backup power systems to EV fast charging and behind-the-meter applications. Natron's mission is to transform industrial and grid energy storage markets by providing customers with lower-cost, longer-lasting, more efficient, safer batteries. Natron's products are UL 1973 listed, offer higher power density, faster recharge, and significantly longer cycle life than incumbent technologies. Natron builds its batteries using commodity materials on existing cell manufacturing lines in Michigan, USA. Learn more about Natron and its sodium-ion technology: www.natron.energy.
Forward-Looking and Cautionary Statements
The information above includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included herein are forward-looking statements. These forward-looking statements are identified by their use of terms and phrases such as “may,” “expect,” “estimate,” “outlook,” “project,” “plan,” “position,” “believe,” “intend,” “achievable,” “anticipate,” “will,” “continue,” “potential,” “likely,” “should,” “could,” and similar terms and phrases. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in Liberty's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, we do not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
Michael Stock
Chief Financial Officer
303-515-2851
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Company Adds Accomplished Executives with Deep Experience in Strategy and Operational Efficiency at State Street and DuPont; Expands Board to 12 Members
NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced the appointment of Alison Quirk and Shelley Stewart Jr. to its board of directors, effective immediately.
Ms. Quirk is former Executive Vice President, Chief Human Resources and Citizenship Officer at State Street Corporation. Mr. Stewart leads consulting firm Bottom Line Advisory LLC as Managing Partner and is former Chief Procurement Officer at DuPont and at Tyco International.
“We are thrilled to attract such strong corporate governance leaders to our board,” said Alan S. McKim, Chairman, President and Chief Executive Officer. “Alison brings valuable board-level experience advising on corporate strategy, mergers and acquisitions, and company growth objectives. Her background as a senior HR executive fully aligns with our initiatives around recruiting, retention, diversity and inclusion, and employee engagement. Shelley brings significant expertise in areas such as logistics, supply chain management, and operational improvement. His strategic insights, combined with his chemical industry background, will be a significant asset to Clean Harbors as we continue to execute our growth strategy.”
The appointments expand the Clean Harbors board to 12 members, 11 of whom are independent. Ms. Quirk and Mr. Stewart were appointed as Class I directors whose term will expire at Clean Harbors’ 2023 annual meeting of shareholders. She will serve on the Compensation Committee. He will serve on the Environmental, Health and Safety Committee.
About Ms. Quirk
Ms. Quirk retired from State Street in 2017 where she worked for 15 years, the last seven as a member of the company’s senior-most strategy and policy making group. As Chief Human Resources and Citizenship Officer, she was responsible for all aspects of human resources and corporate citizenship, leading a global team of more than 500 people. Prior to State Street, Ms. Quirk spent two decades in HR and business planning roles at FleetBoston Financial, Liberty Financial Companies and Boston Financial Data Services, Inc.
Ms. Quirk is a member of the Compliance Committee of Wynn Resorts, responsible for ensuring compliance with federal, state, local and gaming laws. She is an advisor for King Boston, a not-for-profit organization focused on equity and economic justice. She previously served on the Legg Mason Board of Directors as a member of the Finance Committee and the Nominating and Governance Committee, as well as Chairperson of the Compensation Committee. She also served on a special committee of the board that oversaw the sale of Legg Mason. She holds a bachelor’s degree in Communications from the University of New Hampshire.
About Mr. Stewart
Mr. Stewart retired in 2018 after six years as Chief Procurement Officer at DuPont where he led procurement, global sourcing and logistics, as well as real estate and facility services. Prior to joining DuPont in 2012, he spent nearly a decade at Tyco International where he was Senior Vice President of Operational Excellence and Chief Procurement Officer and oversaw multiple lean six sigma initiatives. Previously, he held senior executive supply chain positions at Raytheon and Invensys PLC. He also spent 19 years at United Technologies Corporation where he held numerous positions around global sourcing.
Mr. Stewart currently serves on the boards of Otis Worldwide and Kontoor Brands, where he sits on their nominating and governance, and audit committees. He also serves on the Board of Trustees of Howard University and the Board of Governors for the University of New Haven. He previously spent several years serving on the board of directors for the Institute for Supply Management. He holds a bachelor’s degree and master’s degree in Criminal Justice from Northeastern University and received his MBA from the University of New Haven.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.
Safe Harbor Statement
Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identifiable by use of the words “believes,” “expects,” “intends,” “anticipates,” “plans to,” “seeks,” “should,” “estimates,” “projects,” “may,” “likely,” or similar expressions. Such statements may include, but are not limited to, statements about future financial and operating results, and other statements that are not historical facts. Such statements are based upon the beliefs and expectations of Clean Harbors’ management as of this date only and are subject to certain risks and uncertainties that could cause actual results to differ materially, including, without limitation, those items identified as “Risk Factors” in Clean Harbors’ most recently filed Form 10-K and Form 10-Q. Forward-looking statements are neither historical facts nor assurances of future performance. Therefore, readers are cautioned not to place undue reliance on these forward-looking statements. Clean Harbors undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements other than through its filings with the Securities and Exchange Commission, which may be viewed in the “Investors” section of Clean Harbors’ website at www.cleanharbors.com.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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DUBLIN--(BUSINESS WIRE)--The "Bioenergy With Carbon Capture And Storage Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027 Segmented By End Use, By Technology, By Form of Energy, By Application, By Region" report has been added to ResearchAndMarkets.com's offering.
The global bioenergy with carbon capture and storage market is projected to grow at a significant rate during the forecast period, 2023-2027. The market growth can be attributed to the rising demand for biofuels and a surge in the production of biofuels to obtain energy from biomass.
Fossil fuel combustion emits a considerable amount of carbon during various forms of electricity generation. Carbon capture and storage is used to reduce carbon emissions or to use them in a way that do not harm the environment. Bioenergy with carbon capture and storage is a beneficial technology that removes carbon from the atmosphere while producing renewable energy in the form of heat, electricity, and transportation fuels.
When the residues and byproducts of forestry, agriculture, and organic wastes are treated, the CO2 emitted from the process, along with other CO2 emissions, can be caught and utilized in other chemical processes or stored underground. Carbon dioxide generated by plants during photosynthesis cannot be re-emitted, but must be stored underground or in plant products. As a result, carbon is removed from the environment, which helps in the reduction of global warming.
Fuel demand has increased due to rising need for power generation and consumption. Due to increasing concerns about excessive fuel use, the demand for biofuels is increasing. To balance production and consumption, various methods of bio-fuel generation are used, and thus biofuels' growing demand is driving the growth of the global bioenergy with carbon capture and storage market in the next five years.
Due to exhaustive fossil fuels, the higher demand for power generation, environmental degradation, loss of non-renewable resources, etc. biofuels are higher in demand and require higher production to satisfy the growing population's demands. Moreover, bio-fuels production and storage have a lot of room for improvement in terms of reducing the cost of fuel for the consumers. Thus, demands for efficient and nature friendly fuels for the power generation supports the growth of the global bioenergy with carbon capture and storage market in the next five years.
Although some biofuel production is natural, its utilization and increasing production require technological advancements in manufacturing units, chemical procedure conductions, and engine re-modelings so that biofuels can be used instead of fossil fuels. For example, specifically built electric automobiles are made that run on electricity rather than oil or petroleum products. The government is assisting research groups and market companies in investing in research and new product development so that more industrial processes and manufacturing units can operate on bio-fuels and reduce their reliance on fossil fuels.
The global bioenergy with carbon capture and storage market segmentation is based on end use, technology, form of energy, application, regional distribution, and competitive landscape. Based on end use, the market is divided into ethanol production, pulp & paper mills, cement production, biogas production, electrical power plants, and heat power plants. Ethanol production is expected to hold the largest share in the global bioenergy with carbon capture and storage market during the forecast period, owing to the higher growth of agricultural fields of food grains and use of ethanol as a fossil fuel in vehicles.
Report Scope:
In this report, global bioenergy with carbon capture and storage market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Bioenergy With Carbon Capture And Storage Market, By End Use:
Bioenergy With Carbon Capture And Storage Market, By Technology:
Bioenergy With Carbon Capture And Storage Market, By Form of Energy:
Bioenergy With Carbon Capture And Storage Market, By Application:
Bioenergy With Carbon Capture And Storage Market, By Region
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Bioenergy with Carbon Capture and Storage Market
4. Executive Summary
5. Voice of Customer
6. Global Bioenergy with Carbon Capture and Storage Market Outlook
7. North America Bioenergy with Carbon Capture and Storage Market Outlook
8. Asia-Pacific Bioenergy with Carbon Capture and Storage Market Outlook
9. Europe Bioenergy with Carbon Capture and Storage Market Outlook
10. South America Bioenergy with Carbon Capture and Storage Market Outlook
11. Middle East & Africa Bioenergy with Carbon Capture and Storage Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Company Profiles
15. Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/jasnok
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Will Supply High-Pressure Closures Weighing up to 20,000 Pounds Each
LOUISVILLE, Ky.--(BUSINESS WIRE)--$SYPR--Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received an award for specialty high-pressure closures for use in the Permian Highway Pipeline Expansion Project. Shipments under this award are expected to be completed by year-end. Terms of the order were not disclosed.
The Permian Highway Expansion Project (the “Project”) will provide an outlet for increased natural gas production from the Permian Basin to growing market areas along the U.S. Gulf Coast, including new LNG facilities, according to news sources. The Project is expected to increase the capacity of the Permian Highway Pipeline by approximately 550 million cubic feet per day.
According to news releases, the expansion couldn’t come at a more critical time and is expected to foster future natural gas production growth in West Texas and provide several LNG facilities along the Texas Gulf Coast with a more affordable, reliable supply. The Project is also expected to alleviate transportation constraints out of the Permian Basin in support of growing domestic and global energy demands. The Project is proposed to be in-service by late 2023.
Sypris has agreed to manufacture and supply its Tube Turns®-branded specialty, high-pressure Tool-less® and Threaded closures for use on the filtration systems for the Project. These closures will range in size from 12” to 70” in diameter and will weigh from an estimated 250 pounds up to as much as 20,000 pounds each and will be rated to a pressure of 1,541 psi.
Brett Keener, General Manager, commented, "Sypris continues to be a leader in supplying high-pressure specialty closures to support major energy projects globally. By leveraging our extensive engineering design and manufacturing expertise, we believe we are uniquely qualified to support these types of demanding requirements. We are proud to be a part of a project with a goal to help provide reliable energy and improve lives around the world."
Sypris Technologies, Inc., Tube Turns Products, is a global leader in the manufacture of custom engineered products for high pressure critical applications serving multiple industries such as the oil and gas pipeline, hydrocarbon and petrochemical processing, food, pharmaceutical, water and utility since 1927. Headquartered in Louisville, Kentucky, the Company's products are marketed worldwide, and can be found in projects ranging from the Trans Alaska Pipeline and Strategic Petroleum Reserve in the U.S. to the Tengiz Oil Field in Kazakhstan and the Bonny Island Gas Field in Nigeria. For more information about the Company, visit its Web site at www.sypris.com.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: our failure to achieve and maintain profitability on a timely basis by steadily increasing our revenues from profitable contracts with a diversified group of customers, which would cause us to continue to use existing cash resources to fund operating losses; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; dependence on, retention or recruitment of key employees and highly skilled personnel and distribution of our human capital; cost, quality and availability or lead times of raw materials such as steel, component parts, natural gas or utilities including increased cost relating to inflation; our failure to successfully win new business or develop new or improved products or new markets for our products; our ability to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; the impact of COVID-19 and economic conditions on our future operations; possible public policy response to the pandemic, including U. S or foreign government legislation or restrictions that may impact our operations or supply chain; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of inflation, tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; disputes or litigation involving supplier, customer, employee, creditor, product liability, warranty or environmental claims; our reliance on a few key customers, third party vendors and sub-suppliers; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; failure to adequately insure or to identify product liability, environmental or other insurable risks; unanticipated or uninsured product liability claims, disasters, public health crises, losses or business risks; the costs of compliance with our regulatory or contractual obligations; labor relations; strikes; union negotiations; our inability to patent or otherwise protect our inventions or other intellectual property from potential competitors; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; our reliance on revenues from customers in the oil and gas markets, with increasing consumer pressure for reductions in environmental impacts attributed to greenhouse gas emissions; changes in legal rights to operate, manage our work force or import and export as needed; inflation; war, geopolitical conflict, terrorism, or political uncertainty, including disruptions resulting from the conflict between Russia and Ukraine arising out of international sanctions, foreign currency fluctuations and other economic impacts; cyber security threats and disruptions, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.
Brett H. Keener
General Manager
(502) 774-6271
The Company’s vertically integrated structure positions it to become a leading producer of nano-silicon for lithium-based batteries
SALT LAKE CITY--(BUSINESS WIRE)--#ElectricVehicles--Ionic Mineral Technologies (Ionic MT), a domestic advanced battery materials technology company, today emerges from stealth mode to debut its breakthrough halloysite-derived nano-silicon, Ionisil™, which can be used as a drop-in replacement for graphite in lithium-based batteries. Nearly all automakers are seeking nano-silicon to unlock significantly longer range and faster charging for electric vehicles (EVs).
As the only vertically integrated producer of nano-silicon, Ionic MT is uniquely positioned to be a leading domestic supplier of nano-silicon and accelerate the electrified future. The Company controls the world’s largest deposit of high-purity halloysite, the ideal feedstock to manufacture nano-silicon at scale. Halloysite’s naturally occurring nanotubular structure enables Ionic MT to employ a “top-down” approach to manufacturing nano-silicon, presenting significant scalability and environmental sustainability advantages compared to competitors.
“Halloysite-derived nano-silicon is a game-changer for the industry,” said Andre Zeitoun, founder and chief executive officer at Ionic Mineral Technologies. “At Ionic Mineral Technologies, we are the first to leverage this vast natural resource for the electric vehicle supply chain. With our approach, scalability is our advantage.”
“Ionic Mineral Technologies enters a hot market at an opportune time,” said Ram Chandrasekaran, head of road transport at global energy research firm, Wood Mackenzie. “With the demand for electric vehicle batteries expected to grow to over 3TWh by 2030, the need for next-generation battery materials is greater than ever."
The Company launches just weeks after the Inflation Reduction Act (IRA) passed into law. The IRA’s EV tax credits hinge on domestically produced battery minerals, a largely non-existent supply chain. Ionic MT is positioned to address this ‘Achilles heel’ of the legislation and supply U.S.-sourced battery minerals and materials.
The Company will be exhibiting next week at The Battery Show in Novi, Michigan at Booth #3420, and CEO Andre Zeitoun will give a presentation, “Halloysite-Derived Nano-Silicon: Scaling Up from the Top Down,” in the Gold Ballroom on Wednesday, September 14, 2022 at 3 pm EST.
Ionic MT is operating out of its initial pilot plant and lab space, which includes a full battery testing lab, wet beneficiation of halloysite, and a patent pending, pilot-scale silicon production furnace to convert halloysite into nano-silicon.
About Ionic Mineral Technologies
Ionic Mineral Technologies (Ionic MT), a U.S.-based advanced battery materials leader, is paving the way to an electrified future. The company’s vertically integrated operation produces drop-in nano-silicon (IonisilTM) to boost power capacity and charging speed for lithium-ion batteries. Third parties, including the U.S. Department of Energy’s Argonne National Lab, have tested Ionic MT’s halloysite-derived nano-silicon product and the company is on track to be one of the nation’s highest-volume producers of this critical battery material and help meet demand across the electric vehicle, stationary storage, and other decarbonizing markets. Learn more at www.ionicmt.com.
Media
Katie Durham
Antenna Group for Ionic Mineral Technologies
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VISTA, Calif.--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, today announced combined purchase orders from new and existing customers in excess of $64 million in the fiscal year June 30, 2022, which was more than 82% over the order volume for fiscal year June 30, 2021.
While not an exact measure, we estimate that purchase orders indicate future revenue potential from new customers in fiscal year 2022 was 26% of revenue, with the remaining 74% from repeat customers. Our strategy reflects a “relationship,” not transactional, business with our customers that provides ongoing new purchase needs and service requirements.
Ron Dutt, Flux Power Chief Executive Officer, commented, “We believe new purchase orders in our fiscal year 2022 are a strong indicator of our potential to reach $70 million in annual revenue run rate in the near term. Our strategic initiatives to accelerate backlog conversion to shipments and increase inventory turns are also driving revenue results and gross margins that will lead toward profitability. Additional momentum is being driven by the accelerating ‘economy-wide’ renewable energy transition. The recently passed Inflation Reduction Act includes tax and other incentives that are aimed at significantly accelerating the adoption of zero-emission technologies for commercial vehicles. We believe our products will benefit as electrification extends to material handling and other equipment supported by Flux as customers transition their entire fleets to clean energy solutions.
“Looking closer at our customer breakdown, we are building a strong portfolio of nearly 74% ‘ongoing, repeat’ customers in fiscal 2022. We believe the combination of repeat customer orders and continued acquisition of new customer business can drive revenue growth to $100 million and beyond in the next several years. We are seeing strong growth from both the material handling equipment sector and the airport ground support equipment sector. Additional interest from the emerging robotic material handling equipment vertical is also driving demand as these customers look to improve their productivity and equipment integration.
“With record new order growth, an expanding customer base, and accelerating clean energy demand, we believe our growth trajectory in fiscal year 2022 is on track for another record revenue year. We look forward to providing additional insight and results of our full fiscal year financial results on our upcoming earnings call,” concluded Dutt.
About Flux Power Holdings, Inc.
Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.
Forward-Looking Statements
This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to obtain the necessary funds under the credit facilities, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products, and Flux Power’s ability to negotiate and enter into a definitive agreement in connection with the Letter of Intent. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of operations, financial condition and performance will not differ materially from the results of operations, financial condition and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
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Partnership aims to accelerate the decarbonization of aviation and to scale access to renewable fuels to power the clean energy transition
BETHESDA, Md. & WASHINGTON--(BUSINESS WIRE)--#AGC--Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced woody biomass, and Alder Fuels, a clean tech developer and greencrude producer, have signed a contract for the long-term, large-scale supply of woody biomass from Enviva, which sources low-value fiber, such as forest byproducts like tree tops, limbs, and commercial thinnings, to further commercialize the supply of sustainable aviation fuel (SAF).
Today’s agreement would make Enviva an exclusive supplier of up to 750,000 metric tons per year of sustainably sourced woody biomass to Alder’s first Alder Greencrude (AGC) production facility, soon to be under construction in the southeastern United States. The supply of sustainably sourced woody biomass feedstock by Enviva is expected to commence in 2024, which will meet rigorous sustainability criteria, subject to independent, third-party audits and certifications.
Backed by Honeywell UOP, United Ventures, AvFuel, Boeing, U.S. Defense Logistics Agency, the U.S. Department of Energy, and the National Renewable Energy Laboratory, AGC can be refined using existing infrastructure into low-carbon to carbon-negative SAF that matches petroleum-based equivalents on specification and performance.
Bryan Sherbacow, Alder Fuels’ President & CEO, commented, “Decarbonization of our entire economy is driving massive demand for the next generation of sustainably sourced renewable fuels. The size of the market for our product is equal to the petroleum market it replaces. With AGC technology, the challenge of meeting this demand is no longer industry willpower or commercial interest; it is having ready access to diverse, highly accredited, and sustainably produced sources of biomass. Today’s announcement brings us one step closer towards achieving that aim, while benefiting the communities in which we operate."
The announcement represents a major milestone in the rapid acceleration and scaling up of low-carbon transportation fuels with the potential to fundamentally change the future of flying and other modes of transport over time. In March 2021, major U.S. airlines committed to achieving net-zero carbon emissions by 2050, which was reinforced by an announcement in October 2021 by the world’s airlines and aviation community. Recognizing the scaling up of SAF is critical to meeting such aggressive climate goals, the White House launched the “SAF Grand Challenge,” with goals to have 3 billion gallons of SAF produced in the U.S. by 2030 and augmenting to 35 billion gallons by 2050. The recent passage of the Inflation Reduction Act (IRA) into law amplifies the U.S. commitment to SAF by providing tax credits for every gallon of SAF produced based on lifecycle greenhouse gas emission reduction percentages. Further, the IRA extends and modifies the tax credit for the production of renewable energy from biomass and other technologies.
Europe is pursuing similar policy initiatives such as ReFuelEU, with the European Parliament voting in support of draft rules to require SAF to account for at least 85 percent of European Union (EU) aviation fuel by 2050. Similarly, the United Kingdom announced the introduction of a SAF mandate, requiring at least 10 percent of jet fuel to be produced sustainably by 2030.
Major U.S. airlines have been seeking opportunities to collaborate with other industries to deliver commercial solutions to sustainable aviation at scale, with such initiatives accelerating over the past two years as they individually, and collectively, committed to becoming carbon neutral. In fact, United Airlines has already committed to purchase 1.5 billion gallons of SAF from Alder Fuels when produced to the airline’s requirements. United Airlines’ commitment represents purchasing more than twice as much SAF as the rest of the world’s airlines combined.
“Abundant sustainable biomass conversion to energy-dense, drop-in liquid fuels is essential to accelerating the current global transition to a low-carbon economy,” said Thomas Meth, President of Enviva. “This joint effort between Enviva and Alder Fuels enables sourcing of sustainable wood fiber and industry-leading technology to deliver the feedstock flexibility and commercialization of SAF needed to achieve jet fuel decarbonization at scale.”
All woody biomass feedstock supplied by Enviva to Alder Fuels will continue to adhere to the U.S. Environmental Protection Agency’s Renewable Fuel Standard, the EU’s Renewable Energy Directive’s requirements, as well as Enviva’s industry-leading Responsible Sourcing Policy. In addition, Enviva and Alder Fuels have committed to collaborating to gain sustainability certification under the internationally renowned Roundtable on Sustainable Biomaterials standard. These guidelines and conditions are further supported by Enviva’s industry-leading Track & Trace® program that provides detailed, verifiable, and independently audited data about the sustainability of Enviva’s sourcing activities and the journey its feedstocks take from the forest tract to the production plant to customers around the globe.
About Alder Fuels
Alder Fuels is powering the global clean energy transformation and race to net zero through the conversion of natural biomass into low-carbon to carbon-negative Alder Greencrude (AGC). This greencrude can then be converted into sustainable aviation fuel (SAF), other low-carbon fuels, and chemicals using existing global refinery equipment and infrastructure. Bryan Sherbacow, Alder Fuels President & CEO, has a proven record for the development and commercial deployment of novel technology, including the world’s first refinery designed to produce renewable jet and military-grade fuels. Alder Fuels is backed by Honeywell UOP, United Ventures, AvFuel, Boeing, the U.S. Defense Logistics Agency, the Department of Energy (DOE), and the National Renewable Energy Laboratory (NREL). For more information, visit http://www.alderfuels.com/
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant, which will be located in Epes, Alabama. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
ALDER FUELS MEDIA:
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Company associates get a firsthand look at the future of their fleet
GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of transportation, intermodal and logistics services, is pleased to host Freightliner at its headquarters in Green Bay this week for company associates to experience the eCascadia Class 8 electric truck prior to integrating the vehicles into their fleet.
In 2021, Schneider announced the addition of 62 Freightliner eCascadia’s into their intermodal operations in Southern California. Incorporating electric trucks is a crucial step for Schneider in meeting the sustainability goal of reducing 7.5% per-mile emissions by 2025 and 60% by 2035.
With Freightliner’s visit, associates at Schneider can experience the electric truck and its capabilities in person.
“Schneider is committed to leading the charge in testing and training new technologies before bringing them to the market and we are grateful for Freightliner offering and showcasing such advancements here in Green Bay,” said Schneider Executive Vice President and Chief Administrative Officer Rob Reich. “Electric vehicle integration is of the utmost importance, and we are so excited for it here at Schneider.”
While the eCascadia is at Schneider’s headquarters, Schneider Executive Vice President and Chief Administrative Officer Rob Reich is available for media interviews on Wednesday, September 7 between 1:00 – 2:30 p.m. CDT, contact Kara Leiterman to schedule an interview time at This email address is being protected from spambots. You need JavaScript enabled to view it. or 920-370-7188.
To learn more about sustainability at Schneider, visit here: https://schneider.com/company/corporate-responsibility/sustainability
About Schneider
Schneider is a premier provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.
With nearly $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.
For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.
Source: Schneider SNDR
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CALGARY, Alberta & LEHIGH VALLEY, Pa.--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) today announced a long-term contract with Air Products (NYSE: APD) to supply low-carbon hydrogen for Imperial’s proposed renewable diesel complex at its Strathcona refinery near Edmonton, Alberta. Air Products will provide pipeline supply from its hydrogen plant under construction in Edmonton.
“Our agreement with Air Products is an important milestone as we progress plans to build the largest renewable diesel manufacturing facility in Canada,” said Jon Wetmore, Imperial’s vice president of downstream. “This project highlights Imperial’s commitment to investing in a lower carbon future. We continue to progress discussions with our business partners and governments as we work toward a final investment decision in the months ahead.”
Imperial will use Air Products’ low-carbon hydrogen to produce renewable diesel at Strathcona that substantially reduces greenhouse gas emissions relative to conventional production. The hydrogen and biofeedstock will be combined with a proprietary catalyst to produce premium low-carbon diesel fuel.
Air Products is increasing overall investment in its Edmonton hydrogen facility to CAD $1.6 billion to support the Imperial contract. The additional investment by Air Products will be used to facilitate integration with Imperial’s proposed project that is expected to enable further significant emissions reductions at Air Products’ overall complex. Air Products will supply Strathcona with approximately 50 percent of the low-carbon hydrogen output from the 165 million standard cubic feet per day hydrogen production complex.
“There is significant demand for low-carbon hydrogen, and as a first-mover, Air Products is ready to meet that demand from our Alberta Blue Hydrogen Hub,” said Dr. Samir J. Serhan, chief operating officer at Air Products. “Canada is rapidly implementing an energy transition that emphasizes the use of low-carbon hydrogen, and Air Products is demonstrating that world-scale hydrogen facilities can be net-zero for carbon emissions. We continue to set the stage for a competitive, low-carbon-intensity hydrogen network, which includes increasing liquid hydrogen production capacity at our site to 35 metric tonnes per day, to provide clean hydrogen for the growing industrial and mobility markets across Canada.”
Imperial’s renewable diesel complex is expected to produce more than 1 billion litres per year of renewable diesel from locally sourced feedstocks. First announced in August 2021, the project is anticipated to realize about 3 million tonnes per year in emissions reductions in the Canadian transportation sector, which is estimated to be the equivalent to taking more than 650,000 vehicles off the road annually. The project is projected to create about 600 direct construction jobs, along with hundreds more through investments by business partners.
Third-party studies have shown renewable diesel from various non-petroleum feedstocks can provide life-cycle greenhouse gas emissions reductions of approximately 40 to 80 percent as compared to petroleum-based diesel.
About Imperial Oil Limited
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale low- and zero-carbon hydrogen projects supporting global transportation and the energy transition.
The Company had fiscal 2021 sales of $10.3 billion from operations in over 50 countries and has a current market capitalization of over $55 billion. More than 20,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit www.airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.
Imperial Oil Limited Cautionary Statement
Cautionary statement: Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, project, target, estimate, expect, schedule, future, may, should, will and similar references to future periods. Forward-looking statements in this report include, but are not limited to, references to Imperial’s proposed renewable diesel complex at its Strathcona refinery, including timing of a final investment decision, planned startup and production, potential emissions reductions and job creation; Imperial’s commitment to the energy transition and investing in a lower carbon future; construction of Air Products’ hydrogen plant, and the use of hydrogen to produce renewable diesel at Imperial’s renewable diesel complex; reduction of greenhouse gas emissions relative to conventional production; Air Products’ additional investment related to the hydrogen contract, including net negative emissions at its overall complex and estimated production and supply quantities; the ability for Air Products to operate a competitive, low carbon intensity hydrogen network; and third party studies regarding life-cycle greenhouse gas emissions reductions from non-petroleum feedstocks.
Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning future energy demand, supply and mix; commodity prices, foreign exchange rates and general market conditions; project plans, timing, costs, technical evaluations and capacities, and the companies’ ability to effectively execute on these plans and operate the refinery and cogeneration unit, and hydrogen complex; production rates, growth and mix across various assets; the availability of locally-sourced and grown feedstock; the adoption and impact of new facilities or technologies on capital efficiency, production and reductions to greenhouse gas emissions intensity, including Imperial’s Strathcona’s renewable diesel complex and Air Products’ hydrogen plant in Edmonton; the amount and timing of emissions reductions; that any required support from policymakers and other stakeholders for various new technologies will be provided; applicable laws and government policies, including taxation, restrictions in response to COVID-19 and with respect to climate change and greenhouse gas emissions reductions; receipt of regulatory approvals; performance of third-party service providers; capital and environmental expenditures; and evolution of COVID-19 and its impacts on Imperial’s ability to operate its assets could differ materially depending on a number of factors.
These factors include global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, feedstocks and other market or economic conditions and resulting demand, price, differential and margin impacts; the results of research programs and new technologies, including with respect to greenhouse gas emissions, the ability to bring new technologies to commercial scale on a cost-competitive basis, and the competitiveness of alternative energy and other emission reduction technologies; the receipt, in a timely manner, of regulatory and third-party approvals; project management and schedules and timely completion of projects; availability and allocation of capital; failure or delay of supportive policy and market development for emerging lower emission energy technologies; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; environmental risks inherent in oil and gas activities; availability and performance of third-party service providers, including in light of restrictions related to COVID-19; political or regulatory events, including changes in law or government policy, applicable royalty rates, tax laws, and actions in response to COVID-19; third-party opposition to company and service provider operations, projects and infrastructure; unexpected technological developments; unanticipated technical or operational difficulties; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; general economic conditions, including the occurrence and duration of economic recessions; and other factors discussed in the companies’ risk factors and management discussion and analysis of financial condition and results of operations in their most recent annual report on Form 10-K.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas and energy companies and some that are unique to Imperial Oil Limited and Air Products. The companies’ actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. The companies undertake no obligation to update any forward-looking statements contained herein, except as required by applicable law.
Air Products Forward Looking Statement
Cautionary Note Regarding Forward-Looking Statements: This release contains “forward-looking statements” within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2021. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.
Imperial
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Air Products
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FREMONT, Calif.--(BUSINESS WIRE)--Cyber-physical identity access management and security leader AlertEnterprise revealed the addition of its new Asset Governance module to their Guardian security convergence platform.
AlertEnterprise Asset Governance connects individual digital identities to physical assets such as keys, computers and company vehicles helping organizations keep tabs on and protect physical assets from the moment they’re assigned to an employee, contingent worker or visitor—until they’re transferred to the next.
With AlertEnterprise Asset Governance, organizations can:
Yogesh Ailawadi, Sr. Vice President Products and Solutions Engineering described the added value and efficiency the software delivers to security teams, “A totally automated way to request, approve, issue and manage physical assets by individual identity will help our customers dramatically increase the level of security, protection and inventory management.”
To learn more about AlertEnterprise Asset Governance visit: https://alertenterprise.com/asset-governance/
AlertEnterprise will provide a live demonstration of Asset Governance solution at the Global Security Exchange (GSX) September 12-14, 2022, at the Georgia World Congress Center booth #2625. To book a meeting at the show visit: https://alertenterprise.com/gsx-landing-page/
About AlertEnterprise
At AlertEnterprise, digital identity and trust are at the center of everything we do. Our mission is to bring people, processes, data and technology together in a unique way to help organizations protect what matters most. We call it security convergence. And we develop game-changing security convergence solutions that deliver identity governance, access management, security intelligence and compliance validation across enterprise IT, HR, cyber and physical security environments.
About GSX
Global Security Exchange (GSX) connects security leaders from around the globe to develop resiliency strategies, find new security solutions and technologies and access educational opportunities. GSX, hosted by ASIS International, raises scholarship funds for security professionals furthering their training.
Willem Ryan – Senior Vice President of Marketing and Communications
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PARIS & ARNHEM, Netherlands & NEW YORK--(BUSINESS WIRE)--Allego N.V. (“Allego”) (NYSE: ALLG), a leading pan-European electric vehicle public fast-charging network, today announced that management would participate and host one-on-one meetings at the following investor conferences. Investors interested in a 1x1 meeting with the Company management should contact their sales representative.
Citi's 2022 Global Technology Conference
Date and Time: September 8, 2022, at 4:00 pm ET
Location: New York, New York
Cowen 15 Annual Global Transportation & Sustainable Mobility Conference
Date and Time: September 9, 2022, at 9:20 am ET
Location: Virtual
Please visit the Events & Publications section at https://ir.allego.eu/events-publications to access the applicable webcast and presentation times.
About Allego
Allego delivers charging solutions for electric cars, motors, buses, and trucks, for consumers, businesses, and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprising approximately 34,000 public charging ports operational throughout the pan-European market – and proliferating. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives our customers and us a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient, and more enjoyable for all.
Investors
Manish A. Somaiya
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WYOMISSING, Pa.--(BUSINESS WIRE)--UGI Corporation (NYSE: UGI) announced today that Cayuga RNG has entered into an agreement to develop its fourth project to produce renewable natural gas (“RNG”) in upstate New York. Cayuga RNG is a joint venture of UGI Energy Services, LLC (“UGIES”), a subsidiary of UGI, and Global Common Ventures, LLC (“GCV”).
Cayuga RNG’s fourth project will be constructed at Bergen Farms and Glenview Dairy, both located in Schuyler County in upstate New York. The project will include the construction of a manure digester and gas upgrading equipment at each location. Once completed in the second half of calendar year 2024, the project is expected to produce approximately 150 million cubic feet of RNG annually that will be delivered to a local natural gas pipeline serving the regional distribution system. UGIES’ subsidiary, GHI Energy, will be the exclusive marketer for Cayuga RNG.
“We are excited to increase our portfolio of sustainable energy solutions that will deliver environmental benefits to farmers, communities and customers,” said Robert F. Beard, Executive Vice President - Natural Gas, UGI. “Renewables is a platform for growth at UGI and, with this investment, we have committed nearly $250 million to RNG projects across multiple states that will further expand our geographic footprint and earnings capability.”
“Bergen Farms and Glenview Dairy are excited to be involved with UGI in a renewable energy project on our farm,” said Jim Bergen of Bergen Farms and Glenview Dairy. “We expect this to benefit the farm, the local community and the environment. This project will help to reduce odors from the manure generated onsite. The anaerobic digesters that are planned will reduce the amount of methane that is emitted into the atmosphere from storing the manure as well as using the methane to replace fossil fuels.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States and California and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About GCV
GCV designs, develops, owns and operates various energy projects, including utility scale power plants, renewable fuels projects, microgrids, and on-site generation projects. GCV establishes Strategic Energy Partnerships with our clients to design and implement energy projects that meet their business objectives. GCV has a broad range of experience in all aspects of energy project design, development and financing. GCV has performed innovative feasibility studies and project design; negotiated project agreements needed to enable financing, including complex power purchase agreements (PPAs); engineering, procurement, and construction (EPC) contracts; fuel supply agreements; and secured complex environmental permits in challenging regulatory environments. GCV also has extensive experience developing financial models and securing project financing.
Comprehensive information about GCV is available on the Internet at http://globalcommon.com/
About Bergen Farms and Glenview Dairy
Bergen Farms and Glenview Dairy are owned and operated by third and fourth generation Bergen family members since the family moved to Odessa NY from New Jersey in 1941. The farm milks 5,700 holstein and jersey cows at two locations in Odessa. The farm grows crops on 8,000 acres to support the dairy’s forage needs.
Investor Relations
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SAN FRANCISCO--(BUSINESS WIRE)--Stem (the "Company") (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, announced today that members of its management team will meet with investors and participate in a fireside chat at the 2022 Barclays CEO Energy-Power Conference taking place on Wednesday, September 7, 2022, in New York, New York.
Stem’s most recent investor materials can be accessed on its Investor Relations website at https://investors.stem.com/events-and-presentations/.
About Stem
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.
For Investors:
Ted Durbin, Stem
Marc Silverberg, ICR
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(847) 905-4400
For News Media:
Suraya Akbarzad, Stem
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Amid Widespread Dissatisfaction with how Things are Going in U.S., Americans Embrace Nuclear Energy as a Positive Solution
WASHINGTON--(BUSINESS WIRE)--The majority of U.S. respondents, regardless of political affiliation or age, are dissatisfied with the way things are going in the U.S. today, but they believe nuclear energy is a big part of the solution, according to the fifth consecutive ecoAmerica American Climate Perspectives Survey. The annual survey polls preferences and opinions about current and future energy choices and their impact on our lives and environment.
An average of 73 percent of U.S. respondents say they are dissatisfied with the way things are going in the U.S. today. Much of their discontent centers on the country’s actions to combat climate change, with 46 percent of Republicans, 68 percent of Independents, and 87 percent of Democrats highly concerned.
America is pro-nuclear, and worries about nuclear have steadily declined
When asked about energy choices to address climate disruption, most respondents support nuclear power, because it reliably generates a lot of our electricity (70 percent), helps grow our economy while reducing pollution to our climate and health (69 percent), and keeps America competitive and energy independent (69 percent). They also want nuclear power plants to be kept running until lower-cost renewable energy becomes available (68 percent), are in favor of nuclear because it does not emit pollutants that harm our health or climate compared to alternatives (67 percent), and thousands of years of uranium and thorium are available to power nuclear plants for truly sustainable energy (59 percent).
Americans across all age cohorts and political affiliations want more investment into advanced nuclear options, such as inexpensive, fail-safe molten salt reactors. Support for nuclear research and development has risen, with 61 percent of the population now wanting more focus on developing nuclear energy sources.
Concerns about nuclear lessen in the face of energy insecurity and climate change
Across the five years of the survey, Americans’ concerns about nuclear energy have dropped, including worries about waste disposal (now 73%, down from 84% in 2018); health and safety (now 73%, down from 80% in 2018); security and weaponization (now 66%, down from 74% in 2018); cost (now 57%, down from 65% in 2018); and overpopulation/development and loss of habitat (now 61%, down from 74% in 2018).
“With growing concerns about our energy security and climate future, U.S. respondents want to keep existing nuclear power plants operational and invest in next-generation nuclear energy,” said Dinara Ermakova, nuclear engineer at Anthropocene Institute. “If the U.S. and Western nations had matched the pace of France's adoption of nuclear energy in the 1980s, we would not yet be observing climate change disasters, and the goal of reaching a safe, stable climate would seem trivial. U.S. respondents agree: it’s time to take strong action to make nuclear power a major part of our energy mix.”
The full ecoAmerica report can be found here.
About Anthropocene Institute
Anthropocene Institute comprises scientists, engineers, communicators, marketers, thought leaders, and advocates — all pulling together toward a common goal: make Earth abundant for all and sustainable for decades to come. For more information, visit www.anthropoceneinstitute.com.
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Marie Domingo
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DENVER & AUSTIN, Texas--(BUSINESS WIRE)--Sitio Royalties Corp. (NYSE: STR) (“Sitio”, "STR" or the “Company”) and Brigham Minerals, Inc. (NYSE: MNRL) (“Brigham Minerals”, “MNRL” or “Brigham”) today announced that they have entered into a definitive agreement to combine in an all-stock merger, with an aggregate enterprise value of approximately $4.8 billion based on the closing share prices of STR and MNRL on Friday, September 2, 2022. The combination brings together two of the largest public companies in the oil and gas mineral and royalty sector with complementary high-quality assets in the Permian Basin and other oil-focused regions, creating an industry leader with a proven track record of consolidating oil and gas mineral and royalty interests operated by a diverse set of E&P companies.
TRANSACTION HIGHLIGHTS
MANAGEMENT COMMENTARY
Chris Conoscenti, Chief Executive Officer of Sitio, commented, “Our merger with Brigham Minerals brings together two complementary businesses that are aligned in every key way, and further advances the business plan that Sitio outlined earlier in the year following the merger of Sitio’s predecessor companies. Both companies are focused on asset quality, maintain disciplined acquisition underwriting standards, understand the benefits of scale, and prioritize shareholder alignment in our approaches to capital allocation and best-in-class governance. We have been particularly impressed with the asset portfolio that the Brigham team has built and their track record of delivering consistent results every quarter since they became public.”
Mr. Conoscenti continued, “We believe that achieving material scale in this industry is critical to creating sustained value for our stakeholders and distinguishing Sitio from others, which is why we have been so focused on employing a differentiated, large-scale consolidation strategy. Our combined company will be the largest publicly traded mineral and royalty company in the U.S. by enterprise value that is focused on consolidation across a diverse set of operators and geographies. We will be able to pursue opportunities that few others can because of the size of our business, strength of our balance sheet, optimized cost structure and access to capital.”
“I’m extremely proud of the Brigham team’s incredible efforts over the past 10 years to assemble an outstanding portfolio of diversified mineral interests across four of the highest quality oil weighted basins under high performing, active operators. Our merger with Sitio creates the industry leading powerhouse in the minerals space with over 30% coverage in the Permian Basin, approximately 100 rigs running across all of our operating basins and greater than 50 activity wells to continue to drive production and cash flow growth. We believe the merger is the logical next step in the continued evolution of the minerals space and creates an entity of scale with ever improving liquidity and float, as well as a streamlined cost structure that further reinforces the scalability of our industry. Overall, I could not be more excited about the future prospects of the combined company to continue to focus on creating value for shareholders through mineral consolidation.” said Robert M. (“Rob”) Roosa, Chief Executive Officer of Brigham.
TRANSACTION DETAILS
Under the terms of the definitive merger agreement, Brigham shareholders will receive a fixed exchange ratio of 1.133 shares of common stock in the combined company for each share of Brigham common stock owned on the closing date, and Sitio’s shareholders will receive one share of common stock in the combined company for each share of Sitio common stock owned on the closing date. Brigham’s and Sitio’s Class A shareholders will receive shares of Class A common stock in the combined company, and Brigham’s Class B and Sitio’s Class C shareholders will receive shares of Class C common stock in the combined company as merger consideration. Based on the exchange ratio and the closing price of Sitio’s Class A common stock on September 2, 2022, the combined company would have an aggregate enterprise value of $4.8 billion. Upon completion of the transaction, Sitio shareholders will own approximately 54.0% and Brigham shareholders will own approximately 46.0% of the combined entity on a fully diluted basis.
The transaction has been unanimously approved by the boards of directors of both companies. Funds managed by Kimmeridge, Blackstone and Oaktree, which own 43.5%, 24.8% and 15.4% of the outstanding shares of Sitio, respectively, have entered into support agreements to vote in favor of the transaction.
The closing of the merger, which is expected to occur in the first quarter of 2023, is subject to customary closing conditions, including regulatory clearance and approvals by the shareholders of Sitio and Brigham. Sitio intends to continue paying its quarterly cash dividend and Brigham intends to pay both its fixed and variable quarterly dividend through closing of the transaction.
STRATEGIC RATIONALE
COMBINED COMPANY GUIDANCE
Combined company guidance for the twelve months ended June 30, 2023 is provided below. This guidance provided is pro forma combined as if both Sitio and Brigham were combined on July 1, 2022 and assumes that all acquisitions that Sitio and Brigham have completed or announced to date were closed on July 1, 2022, including the announced Avant acquisition. Guidance does not assume any additional mergers or acquisitions.
| For the twelve months ended June 30, 2023 | Low | High | ||||||
| Average Daily Production | ||||||||
| Average daily production (Boe/d) |
|
32,250 |
|
|
34,250 |
|
||
| Average daily production (% oil) |
|
49 |
% |
|
51 |
% |
||
| Revenue Deductions, Expenses and Taxes | ||||||||
| Gathering and transportation ($/boe) | $ |
1.25 |
|
$ |
1.75 |
|
||
| Cash G&A ($ in millions) | $ |
19.5 |
|
$ |
21.5 |
|
||
| Production taxes (% of royalty revenue) |
|
7 |
% |
|
9 |
% |
||
| Cash tax rate (% of pre-tax income) |
|
10 |
% |
|
12 |
% |
||
GOVERNANCE AND LEADERSHIP
Following the completion of the merger, the combined company’s Board of Directors will consist of nine members, including five members nominated by Sitio and four members nominated by Brigham. Noam Lockshin, the current Chairman of Sitio’s Board, will serve as Chairman of the Board of Directors of the combined company. The combined company, which will operate under the name Sitio Royalties Corp, will be led by Sitio’s current executive leadership team and be headquartered in Denver, Colorado.
ADVISORS
Credit Suisse Securities (USA) LLC is serving as exclusive financial advisor and Davis Polk & Wardwell LLP is serving as legal advisor to Sitio. Goldman Sachs & Co. LLC is serving as exclusive financial advisor and Vinson & Elkins LLP is serving as legal advisor to Brigham.
CONFERENCE CALL WEBCAST AND ADDITIONAL MATERIALS
Sitio and Brigham will host a joint conference call today at 11:30 a.m. Eastern to discuss the transaction. Participants can access the call by dialing 1-844-200-6205 in the United States, 1-833-950-0062 in Canada, or 1-929-526-1599 in other locations with access code 560919 or via webcast at https://events.q4inc.com/attendee/102813229. The conference call, live webcast and archive of the call and related presentation materials can be accessed through the Investor Relations section of Sitio’s website at www.sitio.com and Brigham’s website at www.brighamminerals.net.
UPCOMING INVESTOR CONFERENCES
Members of Sitio and Brigham’s management teams will be attending the Barclays CEO Energy-Power Conference on September 6, 2022.
Footnotes
About Sitio Royalties Corp.
Sitio is a shareholder returns-driven company focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins, with a diversified set of top-tier operators. With a clear objective of generating cash flow from operations that can be returned to stockholders and reinvested, Sitio has accumulated over 173,500 NRAs through the consummation of over 180 acquisitions to date. More information about Sitio is available at www.sitio.com.
About Brigham Minerals, Inc.
Brigham Minerals is an Austin, Texas, based company that acquires and actively manages a portfolio of mineral and royalty interests in the core of some of the most active, highly economic, liquids-rich resource basins across the continental United States. Brigham Minerals’ assets are located in the Delaware and Midland Basins in West Texas and New Mexico, the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming, and the Williston Basin in North Dakota. Brigham Minerals’ primary business objective is to maximize risk-adjusted total return to its shareholders by both capturing organic growth in its existing assets as well as leveraging its highly experienced technical evaluation team to continue acquiring minerals.
Forward-Looking Statements
This communication relates to a proposed business combination transaction (the “Merger”) between Brigham and Sitio and the information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding the proposed Merger between Brigham and Sitio, the likelihood that the conditions to the consummation of the Merger will be satisfied on a timely basis or at all, Brigham’s and Sitio’s ability to consummate the Merger at any time or at all, the benefits of the Merger and the post-combination company’s future financial performance following the Merger, as well as the post-combination company’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used herein, including any oral statements made in connection herewith, the words “may,” “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project” and similar expressions and the negative of such words and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Brigham’s and Sitio’s management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Such statements may be influenced by factors that could cause actual outcomes and results to differ materially from those projected. Except as otherwise required by applicable law, Brigham and Sitio disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Brigham and Sitio caution you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Brigham and Sitio. These risks include, but are not limited to, the post-combination company’s ability to successfully integrate Brigham’s and Sitio’s businesses and technologies; the risk that the expected benefits and synergies of the Merger may not be fully achieved in a timely manner, or at all; the risk that Brigham or Sitio will not, or that following the Merger, the combined company will not, be unable to retain and hire key personnel; the risk associated with Brigham’s and Sitio’s ability to obtain the approvals of their respective shareholders required to consummate the Merger and the timing of the closing of the Merger, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; the risk that any regulatory approval, consent or authorization that may be required for the Merger is not obtained or is obtained subject to conditions that are not anticipated; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; Sitio’s ability to finance the combined company (including the repayment of certain of Brigham’s indebtedness) on acceptable terms or at all; uncertainty as to the long-term value of the combined company’s common stock; and the diversion of Brigham’s and Sitio’s management’s time on transaction-related matters. Should one or more of the risks or uncertainties described herein and in any oral statements made in connection therewith occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Brigham’s and Sitio’s expectations and projections can be found in Brigham’s periodic filings with the U.S. Securities and Exchange Commission (“SEC”), including Brigham’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K and Sitio’s periodic filings with the SEC, including Sitio’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, Part II, Item 1A “Risk Factors” in Sitio’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Brigham’s and Sitio’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
No Offer or Solicitation
This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, in any jurisdiction, pursuant to the Merger or otherwise, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this document in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Important Additional Information
In connection with the Merger, the post-combination company, Snapper Merger Sub I, Inc. (the “combined company”), will file with the SEC a registration statement on Form S-4, which will include a proxy statement of Brigham, a consent solicitation statement of Sitio and a prospectus of the combined company. The Merger will be submitted to Brigham’s shareholders for their consideration. Brigham, Sitio and the combined company may also file other documents with the SEC regarding the Merger.
IR contacts:
Sitio Investors
Ross Wong
Senior Director of Corporate Finance and Investor Relations
(720) 640–7647
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Media:
Daniel Yunger / Hallie Wolff
Kekst CNC
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Brigham Investors
Blake C. Williams
Chief Financial Officer
(512) 220–1500
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OVERLAND PARK, Kan.--(BUSINESS WIRE)--Black & Veatch, a leading global provider of critical human infrastructure solutions, and Operation Breakthrough Inc., a nonprofit organization in Kansas City, Mo., have launched the Steve Edwards Renewable Energy Lab. The lab commemorates Edwards’ 44-year career at Black & Veatch and honors his contributions across global communities in the field of sustainability. The company celebrated Edwards’ retirement in late August.
The Steve Edwards Renewable Energy Lab will play a vital role in Operation Breakthrough’s teen-led Hydroponic Container Farm called “Growing Outside the Box.” The farm will be 50 percent powered by renewable energy generated from the lab’s rooftop solar panels and stored in lithium-ion batteries. Students will learn about the process of generating, storing and deploying renewable energy to grow hydroponic crops in two large gardens. In addition, they will experiment with wind power and research how hydroponic crops grow using traditional versus renewable sources of energy.
“The opening of the Steve Edwards Renewable Energy Lab is a testament to the contributions Steve has made to the community — and to sustainability — during his tenure as Black & Veatch’s seventh senior leader in the company’s 107-year history,” said Mario Azar, Black & Veatch’s Chairman and CEO. “The lab will provide a powerful tool for high school students to learn new skills that will prepare them for the future while contributing to research and making our world a better place.”
The crops from the farm will be sold through local contracts with grocers, restaurants, and farmers’ markets, and they will be provided at no cost to parents of participating students. Revenues will sustain the project and fund wages for student workers who are 14 and older. The project and business model will serve as a template that can be replicated in other neighborhoods to promote healthier, more resilient communities as well as job training and creation.
“It is an honor for Operation Breakthrough to be included in celebrating Steve Edwards’ legacy at Black & Veatch,” said Mary Esselman, CEO, Operation Breakthrough. “We are excited about the opportunity to carry on his commitment to sustainable energy and water infrastructure. The lab will help ignite a passion for entrepreneurship and future career interests in our students as they engage in real-world experiences and problem solving on a daily basis.”
Editor’s Note:
In the fall of 2021, the muffler shop adjacent to Operation Breakthrough was transformed into a lab to provide workforce development and entrepreneurship to over 300 high school students from underserved neighborhoods in Kansas City. The existing 5,875-square-foot building was renovated to create vibrant, flexible bays where students experience real-world learning in multimedia production, culinary arts, product design (2D/3D printing), digital electronics, graphic design, robotics, computer tech and automotive/engineering, and other emerging STEM priorities. New construction includes 2,250 square feet of complementary metal buildings for arts, fabrication, manufacturing and green tech. Learn more about Black & Veatch’s involvement in the Operation Breakthrough Ignition Lab here.
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
About Operation Breakthrough
Operation Breakthrough, incorporated in 1971, provides a safe, loving and educational environment for children in poverty and empowers their families through advocacy, emergency aid and education. Its two-generation approach includes support groups, adult therapy, emergency services and parenting classes for parents, as well as on-site medical and dental care, speech and occupational therapy and behavioral health programming for more than 700 children ages six weeks to 18-years-old.
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24-HOUR MEDIA HOTLINE | +1 855-999-5991
Power & energy industry expert strengthens Alliant offerings
IRVINE, Calif.--(BUSINESS WIRE)--#Alliant--David Heath has joined Alliant Insurance Services as a Senior Vice President, Alliant Power, one of the 13 Alliant industry-dedicated verticals. Heath will lead the creation and execution of risk management strategy for clients across the power and energy industries.
“David has worked with clients in every part of the energy industry during his distinguished career,” said Robert Bothwell, Executive Vice President, Managing Director of Alliant Power. “His experience allows him to examine complex problems and find elegant solutions that can make a real impact. We are thrilled to have him as a resource for our clients.”
Prior to Alliant, Heath worked for a leading broker for over 35 years. There, he fulfilled multiple leadership roles and represented clients driving advisory, strategy, and execution deploying traditional, alternative, and contractual risk transfer mechanisms. Heath has had the privilege of representing a broad range of clients from some of the world’s largest and widely known publicly traded companies to regional cooperatives and smaller privately held firms. Having operated in multiple geographies across the full energy spectrum, his experience allows him to bring creative structures and solutions to suit individual client needs.
About Alliant Insurance Services
Alliant Insurance Services is one of the nation’s leading distributors of diversified insurance products and services. We operate through a network of specialized national platforms and local offices to offer our clients a comprehensive portfolio of solutions built on innovative thinking and personal service. The business of managing risk is getting more complex, and Alliant is meeting this complexity head-on, not with more layers of management, but with more creativity and agility. Alliant is changing the way our clients approach risk management and benefits, so they can capitalize on new opportunities to grow and protect their organizations. Visit us at alliant.com. #TheMoreRewardingWay
ALLIANT SPECIALTY CONTACT
Madeline Currie
Assistant Vice President,
Specialty Group
(512) 673-8606
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ALLIANT CORPORATE CONTACT
Nick Kopinga
Vice President
Corporate Marketing and Communications
(949) 260-5004
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KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) announced today that members of executive management will participate in the 2022 Inaugural Wells Fargo Leveraged Finance Conference taking place Wednesday, September 7th through Friday, September 9th in Nashville, Tennessee. A copy of the Partnership’s presentation will be available by visiting the Partnership’s website at www.MMLP.com.
About Martin Midstream Partners
Martin Midstream Partners L.P. is a publicly traded limited partnership with a diverse set of operations focused primarily in the United States Gulf Coast region. The Partnership's primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services.
Additional information concerning Martin Midstream is available on its website at www.MMLP.com.
MMLP-E
Sharon Taylor – Chief Financial Officer
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(877) 256-6644
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