Financial leader and renewable energy veteran to support growing renewables portfolio
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy (“LRE”) today announced that Greg Hazelton has been named its new Chief Financial Officer.
Mr. Hazelton has joined LRE’s Senior Leadership Team and will lead LRE’s financial operations, which includes finance, accounting, financial reporting, treasury and financial risk management. He reports to LRE CEO Jason Allen.
“Greg brings a wealth of experience in the regulated utility and competitive renewable power generation industries and a track record of successful financial management that will offer a tremendous competitive advantage to LRE as we expand our wind, solar and battery storage portfolio,” said Mr. Allen. “We are pleased to welcome Greg to the LRE team and will benefit greatly from his leadership and expertise as we continue to execute on our high-growth strategy.”
Mr. Hazelton commented, “I am excited to join LRE and work alongside this talented leadership team during a transformational time for LRE and for the clean energy industry. LRE is a premier renewable energy company, and I look forward to helping grow and diversify its attractive portfolio of renewable offerings and assets.”
Mr. Hazelton joins LRE from Hawaiian Electric Industries (HEI), where he served as Executive Vice President and Chief Financial Officer and oversaw HEI’s corporate financial strategy and performance. Prior to this, he served as a Managing Director in the Global Power & Utilities Group at UBS Investment Bank, where he advised a diverse international client base of utilities, infrastructure and energy-oriented companies and private equity firms on their strategic investment activities. Throughout his career, Mr. Hazelton has worked with innovative companies, development teams and entrepreneurs focused on renewable energy, new energy-based technologies, and transformative business models.
Mr. Hazelton received his bachelor’s degree in Business Administration and Accounting from Warner Pacific College and a Master of Business Administration from the University of Chicago’s Booth School of Business.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy (LRE) is a leading renewable energy company that owns and operates a portfolio of 24 renewable energy facilities across nine states totaling approximately 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction spanning over 100 projects. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$121 billion in net assets (as at December 31, 2021). For more information, visit www.leewardenergy.com.
Kelly Kimberly
713.822.7538
Liz James
281.881.5170
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BRYN MAWR, Pa.--(BUSINESS WIRE)--Essential Utilities Inc. (NYSE: WTRG) today announced it has been recognized as a “3+” Company by 50/50 Women on Boards, the leading global education and advocacy campaign driving gender balance and diversity on corporate boards, in recognition for having a board of directors comprised of three or more women.
This is yet another time in which Essential or its subsidiaries, Aqua and Peoples, have been recognized for their commitment to gender diversity. Aqua was previously recognized by 2020 Women on Boards (now 50/50 Women on Boards, having met their goal of 20 percent women directors by 2020) as a Winning “W” Company. Aqua was also recognized as a Champion of Board Diversity by the Forum of Executive Women in 2016, 2019 and 2021.
“Diversity and inclusion are core elements of the Essential Utilities culture, and we’re honored to be recognized for the female representation on our board,” said Christopher Franklin, chairman and CEO of Essential Utilities. “We know a diverse array of perspectives allows us to better understand and serve all of our customers, and we’re committed to facilitating an equitable and inclusive workforce at all levels. We’re thrilled to add this honor to our overarching ESG accomplishments.”
With three of nine board seats occupied by women, Essential demonstrates that gender equity is a critical component to profitability, productivity and workplace engagement.
In 2010, 2020WOB set a ten-year goal for women to hold 20% of the corporate board seats of companies listed on the Russell 3000 Index. In 2020, women reached an historic 22.6% of public company board seats, and the campaign was renamed to 50/50 Women on Boards, signifying its new vision for women directors to hold half of all corporate board seats.
About Essential
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5.5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
WTRGG
Sarah Courtright
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PARIS--(BUSINESS WIRE)--Rubis Terminal issued on July 8th, the formal notice to early redeem its 5.625% €560m senior notes initially due May 2025. These bonds will be refinanced through a new ESG-linked infrastructure debt package comprised of:
Notably thanks to its strong efforts over the past couple of years to reduce the share of fuel related revenues, this landmark transaction demonstrates Rubis Terminal strong commitment on ESG matters. The documentation of the new financing package includes a margin grid linked to Rubis Terminal compliance with a series of ESG-linked target KPIs, notably reduction of the carbon intensity of the Group's storage operations, increase of the hazardous and non-hazardous waste recovery, and reduction of lost time injury due to work accidents.
On top of that, the new financing package confirms the Group’s clear positioning within the infrastructure asset class, while allowing to reduce its cost of debt and further increase debt maturity.
Commenting on this development, Rubis Terminal Chief Executive Officer Bruno Hayem said : “The refinancing of our bonds through the infrastructure debt market will allow the Group to optimize its debt profile with lower annual finance charges, enabling therefore more financial flexibility and agility. It is, as well, the proof of our new lenders’ confidence in our capacity to defend strong ESG objectives”.
The new financing package is being underwritten by Santander, DNB and CACIB who will manage syndication process in the coming weeks. Rubis Terminal has been advised by Rothschild & Co and Clifford Chance on this transaction.
About Rubis Terminal:
Rubis Terminal is a leading independent infrastructure platform for bulk liquid and gas product handling and storage. The Group operates a total storage capacity of 3.9 million cubic meters in 15 terminals in France, Spain, the Netherlands and Belgium.
The company is a joint venture co-controlled by Rubis, an independent French operator in the energy sector, listed on Euronext Paris and funds managed by I Squared Capital, an independent global infrastructure investment manager focusing on utilities, digital infrastructure, energy, transport, and social infrastructure.
Marc JACQUOT
Rubis Terminal Chief Financial Officer
Tél. : +33 (0)1 53 81 86 20 This email address is being protected from spambots. You need JavaScript enabled to view it.
ComEd partnership with local workforce agencies has helped train nearly 2,400 residents since 2017, supporting equitable clean energy expansion in Illinois
CHICAGO--(BUSINESS WIRE)--ComEd today announced that more than 681 Illinois residents completed clean energy training programs in 2021 to prepare them for jobs in the growing fields of solar and renewable energy. Last year’s program saw continued gains, with an overall 89 percent graduation rate and 83 percent job placement rate, with participation from diverse residents across the state of Illinois. ComEd reported the training outcomes to the Illinois Commerce Commission on July 1, 2022, as part of the Future Energy Jobs Act (FEJA).
Since launching the training program with 11 local agencies in 2017, ComEd has supported 2,393 participants in completing industry aligned jobs training, including a more than 80 percent job placement during the life of the program. The year over year success of the FEJA training programs are helping provide talent needed for clean energy expansion in Illinois, which calls for growth of new renewable energy technologies, including solar.
“ComEd is working to prepare our communities for the transition to a clean energy economy, which will bring new investment, air quality improvements and jobs to our communities,” said Gil C. Quiniones, CEO of ComEd. “Access to comprehensive training and education programs is essential for creating a talent pipeline to meet current demand and to expand solar and new clean energy technologies for the future. This will help ensure that more residents, who reflect the diversity of our communities, benefit from family-sustaining jobs created by clean energy growth right here in Illinois.”
Agency partners reported strong participation outcomes from the 2021 program, including 1,540 certifications received and 421 job placements following graduation. The program continued to demonstrate high levels of diverse participation, including 60 percent minority; 53 percent from environmental justice communities; 18 percent women; and 17 percent returning citizens. Last year’s participants represent 31 counties in Illinois.
Trainees graduated from one of three programs: the Solar Training Pipeline, the Craft Apprenticeship led by the International Brotherhood of Electrical Workers (IBEW) Renewable Energy Fund, or the Multicultural Job Training program. To help close the gap in workforce equity, all programs prioritize recruitment and training efforts for populations which are either at-risk or underrepresented in the industry. Graduates received training to prepare for roles in the energy industry, including solar installer, journeyman, and laborer.
The Solar Training Pipeline Program prepares job seekers for roles in the solar industry and prepares contractors to bid on solar projects. Training includes a solar bootcamp and is implemented by Elevate Energy, Illinois Central College, OAI, Inc. and the Safer Foundation. The 2021 Solar Training Pipeline program had 73 trainees, 85 percent of them minority residents, and saw an 89 percent graduation rate.
The Craft Apprenticeship Training Program provides a pathway to roles in electric industry trades, introduction to solar, and "train-the-trainer" programs delivered by IBEW locals at high schools across Illinois. The 2021 program featured an expansion of training programs to new CPS high schools, including Dunbar and Simeon. All 410 trainees in the IBEW program graduated, and 99 percent secured employment.
"One of the ways the Chicago Urban League works to advance economic equity is by preparing people from underserved communities for in-demand jobs. Over the past few years, we've had dozens of trainees complete our solar panel installation training and go on to successful careers that have changed not only their lives and the lives of their families, but their outlook on the future," said Karen Freeman-Wilson, President and CEO of the Chicago Urban League. "ComEd has been an essential partner in our work, and we look forward to continuing to work together to prepare Black Chicagoans to participate in the fast-growing renewable energy sector."
The Multicultural Training Program upskills trainees from diverse and underserved communities, with training delivered by the Chicago Urban League, National Latino Education Institute (NLEI), ASPIRA of Illinois and Austin Peoples Action Center. The program is also supported by multicultural industry organizations, including the Chatham Business Association and the Hispanic American Construction Industry Association (HACIA). There were 220 participants in the Multicultural Training Program in 2021, with a 72 percent graduation rate.
“HACIA is committed to creating pathways of opportunity for diverse businesses and underrepresented groups in the emerging clean energy sector,” said Jacqueline Gomez, Executive Director of HACIA. “Our cohort based training, funding by FEJA and in partnership with ComEd, has allowed us to do just that, positioning small and diverse businesses to grow and take on new projects. We hope to continue this important work in the near future.”
The FEJA training programs are administered with a $30 million investment by ComEd. To date, $10 million has been invested in training programs in 2017-2021, and another $20 million is set for release by the Illinois Department of Commerce and Economic Opportunity (DCEO), which will be administering FEJA training grants in future cycles.
To support the steady growth of a diverse talent pipeline, ComEd is invested in a wide array of training, education and job readiness programs that help residents of all ages and backgrounds prepare for a future in energy. These programs include the award-winning CONSTRUCT Infrastructure Academy, Chicago Builds, a CPS high school trades program, and various training programs offered in collaboration with local education institutions. Overall, ComEd’s workforce training programs in 2021 reached over 1,400 residents.
To learn more about job training programs offered by ComEd, please contact our Workforce Development team at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit ComEd's website.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
DUBLIN--(BUSINESS WIRE)--The "Global Mobile Offshore Drilling Units Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Mobile Offshore Drilling Units (MODU) Market is expected to witness a CAGR of 12.5% during the forecast period.
Companies Mentioned
Key Market Trends
Drillship Expected to Witness Significant Growth
North America Expected to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Type of Drilling Unit
5.1.1 Drilling Barges
5.1.2 Submersible Rigs
5.1.3 Semi-Submersible Rigs
5.1.4 Drillship
5.1.5 Jackup Rigs
5.2 Water-depth
5.2.1 Shallow
5.2.2 Deep
5.2.3 Ultra-Deep
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South-America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES and FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/afzp8u
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Bioliquid Heat & Power Generation Market Research Report by Type (Biodiesel and Bioethanol), Application, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Bioliquid Heat & Power Generation Market size was estimated at USD 2,060.80 million in 2021, USD 2,208.20 million in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 7.32% to reach USD 3,150.37 million by 2027.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Bioliquid Heat & Power Generation Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Bioliquid Heat & Power Generation Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Bioliquid Heat & Power Generation Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Bioliquid Heat & Power Generation Market?
4. What is the competitive strategic window for opportunities in the Global Bioliquid Heat & Power Generation Market?
5. What are the technology trends and regulatory frameworks in the Global Bioliquid Heat & Power Generation Market?
6. What is the market share of the leading vendors in the Global Bioliquid Heat & Power Generation Market?
7. What modes and strategic moves are considered suitable for entering the Global Bioliquid Heat & Power Generation Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/mnlgj2
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER & LONDON--(BUSINESS WIRE)--The issuance of climate related financial instruments in Asia is dominated by China, India and the Republic of Korea, whilst most countries do not leverage climate bond issuance at all, according to new research launched by Janus Henderson Investors. The Decarbonisation in Emerging Markets – Perspectives and Insights from Asia report measures the decarbonisation efforts facing emerging markets in Asia against three metrics: renewable energy as a percentage of total energy mix, climate bond issuance as a percentage of total bond issuance, and net zero target dates. This new report builds on the previous report released in February 2022, which revealed that limited policy ambitions and lack of private sector financing curtailed faster progress on decarbonisation in Latin America.
Decarbonisation of Asia critical to limiting a global temperature increase
With China and India being two of the largest carbon emitters in the world, the decarbonisation of Asia is crucial to limiting a global temperature increase to less than 2°C. Yet in 2020, the regional decarbonisation rate sat at 0.9%, well below the global average of 2.5%1. This slow progress is due to a number of barriers, including: an energy reliance on fossil fuels, restricted access to green financing solutions, varying degrees of state market control, and poor frameworks and practices that influence emission targets and collect emission data. While nearly three quarters of emerging markets in Asia have set or declared net zero targets, timeframes range from 2030 (the Maldives) to 2070 (India).
However, there has been an uptick in government engagement with renewable energy generation across the region, demonstrating that countries of all sizes understand the role they need to play. At face value, less populated countries consume more renewable energy, but when contextualised by population, China and India’s relative renewable consumption significantly increases. Renewable energy consumption regionally is driven by hydropower, largely due to historical investment, but more recently wind and solar power generation have started to take centre stage.
In 2021, Asia-Pacific was the fastest-growing region for green bond sales globally, driven by a small number of countries. Overall, the region sold $124.53 billion of green debt in 2021, a 128% increase2.
Matt Doody, Research Analyst in Emerging Market Equities at Janus Henderson, said: “As the 'factory of the world', Asia uses a significantly higher amount of energy in its economy than other regions – often fueled by coal or diesel. Lowering greenhouse gas emissions and transitioning towards clean energy in these markets requires large investments in productive capacities that can change the energy mix.”
As we noted in our last report, the main challenge facing emerging markets is the ability to create regional frameworks or green financing tools that are immune to roadblocks by country specific governments. It is our view that more open and realistic dialogue is needed to create solutions that are flexible enough to react to the reality of local issues, but stringent enough to hold the region accountable for driving long-term change.”
China embracing green transition opportunities
As the economic powerhouse and largest carbon emitter in Asia, China is powering the regional drive towards renewable energy supported by government policy that wants to ignite an energy revolution. China already generates a significant portion of the world’s renewable electricity; wind installations peaked at 72.5 GW in China in 2020, a near threefold increase from 2019, and solar power increased by 60%3. China’s national policy aims to achieve 80% of its total energy mix from non-fossil fuel sources by 2060, with a combined 1,200 GW of solar and wind capacity by 20304.
China has also developed its own standards for allocating and reporting on the use of green bond proceeds; currently issuers can use up to 50% of the proceeds raised from green bonds for general corporate purposes. This is a positive step but contradicts international guidance that state proceeds must be used exclusively to finance green projects. This difference is one of the key reasons for the misalignment between Chinese versus foreign issuers, and significantly reduces the appeal to international investors.
However, there is scope for China to become a leading sovereign issuer. This move would send a strong signal about China’s green finance leadership globally, opening up the country to more foreign investment and likely encourage other emerging markets in the region to follow suit. However, China’s limited capital account liberalisation, as well as dominant state presence in certain industries, may prevent this from happening soon.
Other key players in Asia: India and the Republic of Korea
Despite the vast need for green solutions and investment, India had limited engagement with green financing until last year, when the country issued $6.8 billion of green bonds, the strongest issuance since its first issue in 2015.5 This swift increase in bond issuance has partly been spurred by the issuance of sovereign green bonds, which is incorporated within the government’s official borrowing programme. The Reserve Bank of India is also due to publish its framework for sovereign green bonds later this year, accompanied by a range of financial incentives. This could be the start of a new phase of green projects that hopefully accelerates India’s decarbonisation and energy transition.
The Republic of Korea’s energy sector remains reliant on fossil fuels and energy imports but the country’s commitment to achieving net zero emissions by 2050 is fuelling the sale of green debt. Similar to China’s Green Bonds Endorsed Project Catalogue, Korea has developed its own Green Bond Framework and K-taxonomy to eliminate green washing and has taken significant steps to align these with the EU taxonomy. The development of clear-cut issuance guidelines complements the government’s request for proposals for a possible sale of offshore green bonds, with the intent of increasing foreign investment.
Matt Doody added: “There is a clear decarbonisation opportunity in Asia as it’s home to countries with some of the largest carbon emission challenges. Through the combination of supportive government policy, technological innovation and emerging financing solutions the region is likely to sit at the forefront of the next industrial (green) revolution.”
Janus Henderson calls for greater investment in hydrogen and more efforts to reduce carbon emissions
Emerging markets in Asia will need to continue to balance economic growth against renewable energy affordability and availability. There is a clear opportunity for bond investors to play a key role in helping companies upgrade their capital towards complying with long-term emissions targets and international engagements. With hydrogen predicted to be one of the fastest growing alternative energy sources in the next decade, investing in hydrogen solutions as a low carbon alternative could accelerate the clean energy transition across the region. Additionally, more robust grid networks will need to be constructed in order to efficiently distribute the surge in power generated by alternative energies. As the energy transition continues to gain momentum across the region, governments are likely to implement regulated carbon schemes that put pressure on private companies to address their carbon emissions. As a result, the demand for a more sophisticated carbon credit market is also likely to increase so companies can buy credits to offset their emissions.
Ales Koutny, portfolio manager at Janus Henderson, said: “While Asia was represented in the early days of green bond issuance, such as Indonesia’s 2019 green sukuk, the region has since became a laggard, falling significantly behind other regions such as Europe or North America. As investors’ appetite for green bonds continue to grow and we start to see some new national efforts, such as Singapore’s green bond issuance framework, Asia could leapfrog the rest of the world.”
Data Sources
The report analysed data from 26 emerging markets across Asia.
Top 5 countries by total renewable energy as a % of final consumption, unweighted
Country |
Unweighted TEFC by % |
Bhutan |
81.1 |
Nepal |
75 |
Cambodia |
61.8 |
Myanmar |
60.1 |
Sri Lanka |
51.4 |
Top 5 countries by total renewable energy as a % of final consumption, weighted by % of regional population
Country |
Weighted TEFC by % |
India |
10.7 |
China |
4.5 |
Pakistan |
2.3 |
Indonesia |
1.4 |
Bangladesh |
1.2 |
Source: IRENA Asia reports, 2018. Population data from the World Bank.
Top 5 countries, cumulative climate bond issuance as of end March 2022
Country |
Climate bond issuance ($USD million) |
Net Zero commitment |
China |
199,145 |
2060 |
Republic of Korea |
22,009 |
2050 |
Singapore |
19,738 |
2050 |
India |
18,752 |
2070 |
Indonesia |
6,388 |
2060 |
Climate Bond Issuance Source: *Climate Bond Initiative, https://www.climatebonds.net/market/data/#country-map
About Janus Henderson
Janus Henderson Group is a leading global active asset manager dedicated to helping investors achieve long-term financial goals through a broad range of investment solutions, including equities, fixed income, multi-asset and alternative asset class strategies.
At 31 March 2022, Janus Henderson had approximately US$361 billion in assets under management, more than 2,000 employees, and offices in 23 cities worldwide. Headquartered in London, the company is listed on the NYSE and the ASX.
Source: Janus Henderson Group plc
This press release is solely for the use of members of the media and should not be relied upon by personal investors, financial advisers or institutional investors. We may record telephone calls for our mutual protection, to improve customer service and for regulatory record keeping purposes.
Issued by Janus Henderson Investors. Janus Henderson Investors is the name under which investment products and services are provided by Janus Henderson Investors International Limited (reg no. 3594615), Janus Henderson Investors UK Limited (reg. no. 906355), Janus Henderson Fund Management UK Limited (reg. no. 2678531), Henderson Equity Partners Limited (reg. no.2606646), (each registered in England and Wales at 201 Bishopsgate, London EC2M 3AE and regulated by the Financial Conduct Authority) and Henderson Management S.A. (reg no. B22848 at 2 Rue de Bitbourg, L-1273, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier). Henderson Secretarial Services Limited (incorporated and registered in England and Wales, registered no. 1471624, registered office 201 Bishopsgate, London EC2M 3AE) is the name under which company secretarial services are provided. All these companies are wholly owned subsidiaries of Janus Henderson Group plc. (incorporated and registered in Jersey, registered no. 101484, with registered office at 13 Castle Street, St Helier, Jersey, JE1 1ES).
Janus Henderson, Knowledge Shared and Knowledge Labs are trademarks of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc.
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1 https://cdn.cdp.net/cdp-production/cms/reports/documents/000/006/179/original/How_companies_in_Asia_Pacific_are_preparing_for_the_net-zero_economy_EN.pdf?1648712180
2 https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/green-bond-sales-to-surge-in-asia-pacific-as-region-lays-out-path-to-net-zero-68602361
3 https://www.wri.org/insights/asia-clean-energy-transition-examples-5-countries
4 https://www.scmp.com/business/china-business/article/3161732/china-remain-renewable-energy-leader-strong-capacity-growth
5 https://www.bloomberg.com/news/articles/2022-03-15/india-said-to-plan-3-3-billion-sovereign-green-bond-issuance
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DALLAS--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET) today announced that it plans to release earnings for the second quarter of 2022 on Wednesday, August 3, 2022, after the market closes.
The company will also conduct a conference call on Wednesday, August 3, 2022 at 3:30 p.m. Central Time/4:30 p.m. Eastern Time to discuss quarterly results and provide a company update. The conference call will be broadcast live via an internet webcast, which can be accessed on Energy Transfer’s website at energytransfer.com. The call will also be available for replay on Energy Transfer’s website for a limited time.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at energytransfer.com.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results, including future distribution levels and leverage ratio, are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
The information contained in this press release is available on our website at energytransfer.com.
Investor Relations:
Bill Baerg
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Lyndsay Hannah
214-981-0795
Media Relations:
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ST. LOUIS--(BUSINESS WIRE)--Western Metals Corporation (OTC: WTLC) (the “Company”), announced today that on July 13, 2022 it will commence a tender offer pursuant to an anticipated Agreement and Plan of Merger (together with any amendments or supplements thereto, the “Merger Agreement”), by and among the Company, LOTO Energy II, LLC, a Delaware limited liability company (“Parent”), and a California corporation to be formed as a wholly owned subsidiary of Parent (“Merger Sub”). The Company is offering to purchase all of the issued and outstanding shares of common stock without par value of the Company (“Shares”), other than the Shares owned by Parent, at a price of $0.44 per Share in cash, without interest and less any applicable withholding taxes (the “Offer Price”), upon the terms and subject to the conditions set forth in the Company’s offer to purchase (together with any amendments or supplements, the “Offer to Purchase”) and the related letter of transmittal (together with any amendments or supplements, the “Letter of Transmittal” and, together with this Offer to Purchase, the “Offer”).
The initial scheduled expiration time of the Offer is 5:00 p.m., New York City time (the “Offer Expiration Time”), on August 10, 2022, unless the Offer is extended as described in the Offer to Purchase.
Pursuant to the Merger Agreement, following the consummation of the Offer and the satisfaction or waiver of the applicable conditions set forth in the Merger Agreement, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving corporation in the Merger and as a wholly owned subsidiary of Parent. As a result of the Merger, each Share issued and outstanding immediately prior to the effective time of the Merger (other than Shares irrevocably accepted for purchase by the Company in the Offer, held in the treasury of the Company or owned by any direct or indirect wholly owned subsidiary of the Company and Shares owned by Parent, Merger Sub or any direct or indirect wholly owned subsidiary of Parent, or by any shareholders of the Company who have properly exercised their appraisal rights under Chapter 13 of the California General Corporation Law) will at the effective time of the Merger be cancelled and converted into the right to receive an amount in cash equal to the Offer Price, without interest and less any applicable withholding taxes.
Pursuant to the Merger Agreement, the Offer is subject to the satisfaction or waiver of the following conditions, among others:
Approximately 57.72% of the issued and outstanding Shares are owned by Parent. Another 20.66% of issued and outstanding Shares are owned by persons related to or associated with Parent and its owners. The equity of Parent is owned by two entities (“Parent Owners”). Each Parent Owner has a director representative on the Board. The other two members of the Board are independent. Neither director representative of a Parent Owner voted for or against the Offer. The Offer was unanimously approved by the independent directors.
The transfer agent and the depositary for the Offer is Computershare Trust Company, N.A. The information agent for the Offer is Georgeson LLC. The Offer to Purchase, the related Letter of Transmittal and other related documents are being distributed to the Company’s Shareholders. Shareholders that have questions or need additional copies of the Offer to Purchase and the Letter of Transmittal should contact the information agent at its address and telephone number set forth below.
Georgeson
1290 Avenue of the Americas, 9th Floor
New York, NY 10104
Shareholders, Banks and Brokers
Call Toll Free:
866-695-6078
Notice to Shareholders
This announcement is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares. The Offer is being made solely pursuant to the Offer to Purchase and the related Letter of Transmittal. Shareholders are urged to read the Offer to Purchase and the related Letter of Transmittal in their entirety, as they contain various terms of, and conditions to, the Offer.
About Western Metals Corporation
Western Metals Corporation is a California corporation that owns and operates two natural gas wells located in Solano County, California.
Forward-Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will” and “expect” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Company does not undertake any obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or which the Company becomes aware, after the date hereof.
Georgeson LLC, Information Agent
Phone: (866) 695-6078
www.westernmetalscorp.com
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) today announced Wayne Bosch has retired on July 3, 2022, after eight years of service to PERMA-PIPE and its subsidiaries.
“Wayne joined the company in 2013 when we were known as MFRI, playing an instrumental role in many of the changes impacting MFRI and PERMA-PIPE over the years. As the Vice President and Chief Human Resources Officer, Wayne was a key executive team member. He also served as Chief Compliance Officer. He provided valuable leadership and contributed to our strategy development globally. Wayne was a dependable and helpful resource to us throughout his tenure. Not only in his core function of HR but also in other important areas where the size of our organization has limited us in the ability to have a specific role devoted to it. It has been a pleasure for me to work alongside Wayne, and he will be missed,” said David Mansfield, President and CEO.
Wayne is succeeded by Jill Curry. Jill is accountable for providing human resources leadership, strategies, policies, and actions. She will play a vital role in the ongoing growth, development, and transformation of the PPIH business globally.
Throughout her career, Jill has helped stand up two completely new businesses and integrate over 20 major acquisitions, creating and leading global human resources and building multi-disciplined teams within world-class organizations. Before joining PERMA-PIPE, Jill was an executive at Baker Hughes Company, focusing on strategic human resources and mergers and acquisitions. Prior to Baker Hughes, she was a founding member of Wellbore Integrity Solutions and spent five years as Vice President of Human Resources and Administration of another private equity-backed firm focused on the offshore oil and gas space. She has also held various roles in Oil States Energy Services and Schlumberger, where she was the global Human Resources executive for an entire integration center, which stretched across Europe, North America, and Asia.
Jill attended the Advanced Human Resource Executive Program at the Stephen M. Ross School of Business at the University of Michigan and has a Bachelor of Arts Degree from Stephen F. Austin State University.
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.
Perma-Pipe International Holdings, Inc.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
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847.929.1200
EIG to remain Harbour’s largest shareholder
WASHINGTON--(BUSINESS WIRE)--EIG, a leading institutional investor to the global energy and infrastructure sectors, today announced that it has distributed shares of Harbour Energy plc (HBR.L or the “Company”) held by Harbour North Sea Holdings Ltd. (“Harbour North Sea”) to EIG fund investors through a series of distributions. Following the merger of Premier Oil plc and Chrysaor Holdings Ltd., Harbour North Sea received 36.46% of the Company. EIG manages holdings in the Company through an investment fund via several holding companies (the “EIG Holding Structure”). The distribution of shares though the EIG Holding Structure will result in numerous regulatory filings.
EIG would like to make clear that:
“Today, EIG has distributed shares in Harbour Energy to our fund investors. As EIG is still the largest shareholder following the distribution, we remain committed to the sector, confident in the Company’s current strategy and supportive of its management team,” said R. Blair Thomas, EIG’s Chief Executive Officer.
About EIG
EIG is a leading institutional investor to the global energy and infrastructure sectors with $25.0 billion under management as of March 31, 2022. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 40-year history, EIG has committed $40.1 billion to the energy sector through 380 projects or companies in 38 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
Media Contact
FGS Global
Kelly Kimberly / Brandon Messina
+1 212-687-8080
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GEORGETOWN, Guyana--(BUSINESS WIRE)--His Excellency Dr Irfaan Ali today announced a national healthcare initiative in collaboration with the Mount Sinai Health System, an internationally recognized healthcare provider, and Hess Corporation to improve the quality of and access to healthcare for the people of Guyana.
Working with the Government of Guyana, the Mount Sinai team will advise and help develop high quality primary care, specialized services in cardiology and oncology, and significant improvements at the Georgetown Public Hospital Corporation. This work will be funded jointly by Hess Corporation and the Government of Guyana.
The President was joined today by Dr Jeremy Boal, Chief Clinical Officer of the Mount Sinai Health System, and John Hess, CEO of Hess Corporation, for a signing ceremony to establish the multi-year national healthcare initiative.
“I am pleased that we are advancing on another branch of our transformative agenda. The Government’s commitment to providing world-class healthcare is one step closer with this partnership. Building this health infrastructure requires a holistic approach aimed at a human, systemic, institutional, infrastructural, technological, and cultural shift in achieving the goal of world-class healthcare. I therefore welcome the investment and the commitment of Hess Corporation and Mount Sinai, and their collaboration with our Government and the National healthcare system, which includes private healthcare in the achievement of our set goal,” His Excellency President Irfaan Ali said.
CEO John Hess said: “Access to affordable and high quality healthcare is central to the country’s vision for long term, shared prosperity for the people of Guyana. We are proud to be part of the strategic partnership with the Government of Guyana and the Mount Sinai Health System to bring a brighter and healthier future for every Guyanese citizen now and for generations to come.”
“We are honoured to work closely with the country of Guyana and Hess Corporation to advance healthcare services for the people of Guyana,” said Dr Boal. “Our team of experts in oncology, cardiovascular medicine, endocrinology, primary and preventative care, and operations will help develop high-quality services for the Guyanese people in partnership with Dr Irfaan Ali and key health and governmental stakeholders. We are committed to working with healthcare leaders in Guyana to develop a healthcare system that ensures the highest possible level of health and well-being for the people of this country.”
A 40+ member project team of leading healthcare experts from the Mount Sinai Health System, including Mount Sinai International and the Arnhold Institute of Global Health, arms of Mount Sinai dedicated to advancing the institution’s mission of delivering innovative, high-quality healthcare around the globe, will begin work this summer on implementation in partnership with the Government.
Hess Corporation (NYSE: HES) is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. The company is recognized as an industry leader in environmental, social and governance performance and disclosure. More information on Hess Corporation is available at www.hess.com.
The Mount Sinai Health System is one of the largest academic medical systems in the New York metro area, with more than 43,000 employees working across eight hospitals, over 400 outpatient practices, over 300 labs, a school of nursing, and a leading school of medicine and graduate education. Mount Sinai advances health for all people, everywhere, by taking on the most complex healthcare challenges of our time — discovering and applying new scientific learning and knowledge; developing safer, more effective treatments; educating the next generation of medical leaders and innovators; and supporting local communities by delivering high-quality care to all who need it.
Through the integration of its hospitals, labs, and schools, Mount Sinai offers comprehensive healthcare solutions from birth through geriatrics, leveraging innovative approaches such as artificial intelligence and informatics while keeping patients’ medical and emotional needs at the center of all treatment.
Hess Corporation
Lorrie Hecker
212-536-8250
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Office of the President
Cooperative Republic of Guyana
(+592) 225 1330
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Mount Sinai Health System
Press Office
212-241-9200
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BUFFALO, N.Y.--(BUSINESS WIRE)--$ROCK #ROCK--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, today announced that Chairman and Chief Executive Officer Bill Bosway and Chief Financial Officer Tim Murphy are scheduled to present at the CJS 22nd Annual New Ideas Summer Conference on Tuesday, July 12, 2022 and hold meetings with investors that day.
The Company’s most recent slide presentation is available on Gibraltar’s website at https://ir.gibraltar1.com/reports-presentations.
About Gibraltar
Gibraltar is a leading manufacturer and provider of products and services for the renewable energy, residential, agtech, and infrastructure markets. Gibraltar’s mission, to make life better for people and the planet, is fueled by advancing the disciplines of engineering, science, and technology. Gibraltar is innovating to reshape critical markets in comfortable living, sustainable power, and productive growing throughout North America. For more please visit www.gibraltar1.com.
LHA Investor Relations
Jody Burfening/Carolyn Capaccio
(212) 838-3777
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DUBLIN--(BUSINESS WIRE)--The "Base Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global base oil market reached a volume of 31.2 Million Tons in 2021. Looking forward, the publisher expects the market to reach a volume of 36.7 Million Tons by 2027, exhibiting a CAGR of 2.74% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Base oil refers to a blend stock aiding in formulating numerous lubricating oils that are used in engines and other machinery. It is produced by extracting and treating high-viscosity material from narrow distillation cuts of vacuum gasoil (VGO) or residue, which requires special processing through different units.
It helps create a thin film for enhancing heat transfer and reducing tension between moving parts. At present, there is a significant rise in the utilization of lubricants in automobile and truck engines, which in turn, is positively influencing the requirement of base oil across the globe.
Nowadays, base oils find extensive applications in greases and transmission and gear lubricants. This, in confluence with the increasing utilization of hydraulic oil in the automotive industry and rising sales of automobiles, represents one of the key factors propelling the growth of the market.
Moreover, base oils are generally made from crude oil, a non-renewable resource that produces greenhouse gases (GHGs) and causes damage to the environment. As a result, other alternatives for base oils are being researched and implemented in newer engine oil products, such as bio-olefins, which are derived from renewable resources like biomass.
Besides this, vegetable oils are increasingly being utilized as base oils in lubricants instead of mineral oils as they offer numerous advantages. These include nontoxicity, biodegradability, resource renewability, affordable application cost, and high viscosity index. In addition, vegetable oils are cheaper than ester-based oils and provide more potential for the successful implementation as lubricants in base oils. This, along with the rising sales of cars around the world, is projected to drive the market in the upcoming years.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Base Oil Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
7 Market Breakup by Group
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/jk3kpw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today it will release financial results for the second quarter of 2022 on August 4, 2022 after market close, followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). President and Chief Executive Officer of Clean Energy Andrew J. Littlefair and Chief Financial Officer Robert M. Vreeland will host the call.
Investors interested in participating in the live call can dial 1.888.220.8451 from the U.S. and international callers can dial 1.646.828.8193. A telephone replay will be available approximately two hours after the call concludes through Sunday, September 4 by dialing 1.844.512.2921 from the U.S., or 1.412.317.6671 from international locations, and entering Replay Pin Number 9973154.
There also will be a simultaneous, live webcast available on the Investor Relations section of the Company's web site at www.cleanenergyfuels.com, which will be available for replay for 30 days.
About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Robert M. Vreeland, CFO
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Maker of energy-efficient and affordable modular units has successfully built over three million square feet of living space across six countries
GREENSBORO, N.C.--(BUSINESS WIRE)--Vantem, a manufacturer of modular units for building high-quality, affordable and energy-efficient homes, plans to expand its operations in the U.S. market, fueled by a Series-A investment co-led by Breakthrough Energy Ventures, Quadrant Management and TEM Capital. The company plans to build 15 factories in the U.S. over the next seven years, each capable of producing a million square feet of homes each year.
Vantem manufactures factory-built, finished, modular units using proprietary panels that are used to simplify the construction of high-quality, affordable and energy-efficient apartment buildings and single-family homes. Vantem’s system has been deployed in over three million square feet of living space internationally, including Uruguay, Brazil, Bolivia, Chile, Colombia, and the Caribbean.
“We are excited to have the support of investors who share in our goal of meeting affordable housing needs while reducing energy and carbon emissions impacts,” said Vantem CEO Chris Anderson. “Construction in this sector has seen the least amount of innovation and productivity gains and is one of the greatest direct and indirect sources of carbon emissions. At the same time, affordable housing is a global need that must be addressed, but if we build with traditional methods, we will solve one problem only to worsen another. At Vantem, we are committed to addressing both challenges on a global scale.”
Vantem establishes its factories as joint ventures with developers that seek to reduce costs, construction time, and the carbon footprint of their developments, including building affordable Net-Zero energy structures. The company seeks to install factories across the United States. The strength and resiliency of Vantem’s system is well-suited for a wide range of regions and climates, including extreme hot and cold, wet tropical, dry desert, high hurricane and seismic zones. Made from refractory materials, the system is also fire resistant.
“Vantem’s approach allows the production of high-efficiency and net-zero homes at extremely competitive costs and low embodied carbon,” said Carmichael Roberts of Breakthrough Energy Ventures. “With their proven track record in South America and the Caribbean, we’re confident that the Vantem team can scale their modular approach to ensure homes everywhere can be energy efficient.”
To learn more about Vantem’s plans or if interested in partnering to build local factories that provide high-quality jobs in a leading-edge building material technology, please visit https://vantem.com/contact/.
About Vantem
Vantem deploys a unique proprietary technology that lowers costs and construction time, while increasing thermal efficiency, enabling large-scale construction of affordable homes. Vantem manufactures factory-built, finished, modular units that have been used to add more than three million square feet of living space in six countries. To learn more, visit: www.vantem.com
Chris Anderson
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TORONTO--(BUSINESS WIRE)--Viston United Swiss AG (“Viston”) and its indirect, wholly-owned subsidiary, 2869889 Ontario Inc. (the “Offeror”) today announced that they have received notice from the United States Department of the Treasury in connection with the Offeror’s all-cash offer (the “Offer”) to acquire all of the issued and outstanding common shares (“Common Shares”) of Petroteq Energy Inc. (“Petroteq”) (TSX-V: PQE; OTC: PQEFF; FSE: PQCF) providing notice that the Committee on Foreign Investment in the United States (“CFIUS”) is undertaking an investigation of Viston’s proposed acquisition of Common Shares under the Offer.
Background to the CFIUS Condition
CFIUS is a group of Cabinet-level officials in the U.S. government who are authorized to review certain transactions involving foreign investment in the United States, in order to determine the effect of such transactions on the national security of the United States. On January 6, 2022, the Offeror made a voluntary declaration filing (the “Declaration”) with CFIUS. The Declaration was made for the purpose of securing a clearance by CFIUS that the Offeror’s acquisition of Common Shares pursuant to the Offer and the subsequent second-step acquisition by the Offeror of any Common Shares not acquired by it in the Offer (the “Transactions”) as reflected in (i) a written notice from CFIUS that the Transactions do not constitute a “covered transaction” under relevant government regulations, (ii) a written notice from CFIUS that it has completed its assessment, review, or investigation of the Transactions and has concluded all action under Section 721 of the U.S. Defense Production Act of 1950, as amended (the “DPA”), or (iii) an announcement by the President of the United States, made within the period required by the DPA, of a decision not to take any action to suspend or prohibit the Transactions (each of (i), (ii), or (iii) being a “Clearance”).
On February 24, 2022, Viston announced that following the expiration of the assessment period, CFIUS notified the Offeror that it was unable to complete action under the DPA and grant a Clearance on the basis of the Declaration.
Accordingly, Viston and the Offeror determined to file a voluntary notice (the “Notice”) with CFIUS seeking a Clearance, in order to satisfy the conditions to the Offer. Viston and the Offeror commenced the preparation of the Notice with the objective of preparing the Notice on an expedited basis, submitting the Notice to CFIUS and commencing the 45-day notice review period as soon as practicable.
Pursuant to the February 25, 2022 Petroteq announcement of its willingness to assist Viston with the CFIUS filings, and following discussions between representatives of the Offeror and Petroteq, the Offeror’s U.S. counsel engaged with representatives of Petroteq in order to jointly prepare the Notice. Further to the Declaration filed by the Offeror, the Notice included additional required information in respect of Petroteq provided by Petroteq.
On April 6, 2022, the Offeror and Petroteq pre-filed the Notice with CFIUS. After responding to comments and questions from CFIUS on the pre-filing materials, the Offeror and Petroteq formally submitted the Notice to CFIUS on May 16, 2022.
On May 24, 2022, the United States Department of the Treasury notified the Offeror that the Notice had been accepted by CFIUS for review, that the 45-day notice review period had commenced on May 24, 2022 and that the review would conclude no later than July 7, 2022. The Offeror and Petroteq received a number of questions from CFIUS during the 45-day notice review period and responded to those questions.
On July 7, 2022, Viston and the Offeror received a letter from the United States Department of the Treasury providing notice that CFIUS is undertaking an investigation of the Transactions pursuant to Section 721(b)(2) of the DPA and that the investigation would be completed no later than August 22, 2022.
Viston and the Offeror currently intend to extend the Offer to a date after August 22, 2022 in order to allow additional time for the satisfaction of all of the conditions to the Offer. Viston and the Offeror are currently evaluating the timing of such an extension and expect to issue a further update once Viston and the Offeror have determined a new expiry date for the Offer, if any.
Summary of Offer Details
Viston reminds Shareholders of the following key terms and conditions of the Offer:
For More Information and How to Tender Shares to the Offer
Shareholders who hold Common Shares through a broker or intermediary should promptly contact them directly and provide their instructions to tender to the Offer, including any U.S. dollar currency election. Taking no action and not accepting the Offer comes with significant risks of shareholder dilution and constrained share prices. The deadline for Shareholders to tender their shares is currently July 22, 2022.
For assistance or to ask any questions, Shareholders should visit www.petroteqoffer.com or contact Kingsdale Advisors, the Information Agent and Depositary in connection with the Offer, within North America toll-free at 1-866-581-1024, outside North America at 1-416-867-2272 or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it..
Advisors
The Offeror has engaged Gowling WLG (Canada) LLP to advise on certain Canadian legal matters and Dorsey & Whitney LLP to advise on certain U.S. legal matters. Kingsdale Advisors is acting as Information Agent and Depositary.
About the Offeror
The Offeror is an indirect, wholly-owned subsidiary of Viston, a Swiss company limited by shares (AG) established in 2008 under the laws of Switzerland. The Offeror was established on September 28, 2021 under the laws of the Province of Ontario. The Offeror’s registered office is located at 100 King Street West, Suite 1600, 1 First Canadian Place, Toronto, Ontario, Canada M5X 1G5. The registered and head office of Viston is located at Haggenstreet 9, 9014 St. Gallen, Switzerland.
Viston was created to invest in renewable energies and clean technologies, as well as in the environmental protection industry. Viston aims to foster innovative technologies, environmentally-friendly and clean fossil fuels and to help shape the future of energy. Since October 2008, Viston has undertaken its research, development and transfer initiatives in Saint Gallen, Switzerland. Viston has been working to optimize and adapt these technologies to current market requirements to create well-engineered products. Viston’s work also includes the determination of technical and economic risks, as well as the search for financing opportunities.
Caution Regarding Forward-Looking Statements
Certain statements contained in this news release contain “forward-looking information” and are prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. Often, but not always, forward-looking information can be identified by the use of forward-looking words such as “plans”, “expects”, “intends”, “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information contained in this news release includes, but is not limited to, statements relating to a further variation of an/or extension of the time for acceptance of the Offer; the expectations regarding the process for, and timing of, obtaining regulatory approvals; expectations relating to the Offer; estimations regarding the issued and outstanding Common Shares, including as measured on a fully-diluted basis; and the satisfaction or waiver of the conditions to consummate the Offer.
Although the Offeror and Viston believe that the expectations reflected in such forward-looking information are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking information, and actual results may differ materially from those expressed or implied in such statements. Important factors that could cause actual results, performance or achievements of the Offeror or the completion of the Offer to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information include, among other things, the ultimate outcome of any possible transaction between Viston and Petroteq, including the possibility that Petroteq will not accept a transaction with Viston or enter into discussions regarding a possible transaction, actions taken by Petroteq, actions taken by security holders of Petroteq in respect of the Offer, that the conditions of the Offer may not be satisfied or waived by Viston at the expiry of the Offer period, the ability of the Offeror to acquire 100% of the Common Shares through the Offer, the ability to obtain regulatory approvals and meet other closing conditions to any possible transaction, including any necessary shareholder approvals, potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the Offer transaction or any subsequent transaction, competitive responses to the announcement or completion of the Offer, unexpected costs, liabilities, charges or expenses resulting from the proposed transaction, exchange rate risk related to the financing arrangements, litigation relating to the proposed transaction, the inability to engage or retain key personnel, any changes in general economic and/or industry-specific conditions, industry risk, risks inherent in the running of the business of the Offeror or its affiliates, legislative or regulatory changes, Petroteq’s structure and its tax treatment, competition in the oil & gas industry, obtaining necessary approvals, financial leverage for additional funding requirements, capital requirements for growth, interest rates, dependence on skilled staff, labour disruptions, geographical concentration, credit risk, liquidity risk, changes in capital or securities markets and that there are no inaccuracies or material omissions in Petroteq’s publicly available information, and that Petroteq has not disclosed events which may have occurred or which may affect the significance or accuracy of such information. These are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of the Offeror’s forward-looking information. Other unknown and unpredictable factors could also impact its results. Many of these risks and uncertainties relate to factors beyond the Offeror’s ability to control or estimate precisely. Consequently, there can be no assurance that the actual results or developments anticipated by the Offeror will be realized or, even if substantially realized, that they will have the expected consequences for, or effects on, the Offeror, its future results and performance.
Forward-looking information in this news release is based on the Offeror and Viston’s beliefs and opinions at the time the information is given, and there should be no expectation that this forward-looking information will be updated or supplemented as a result of new information, estimates or opinions, future events or results or otherwise, and each of the Offeror and Viston disavows and disclaims any obligation to do so except as required by applicable Law. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Offeror or any of its affiliates or Petroteq.
Unless otherwise indicated, the information concerning Petroteq contained herein has been taken from or is based upon Petroteq’s and other publicly available documents and records on file with the Securities Regulatory Authorities and other public sources at the time of the Offer. Although the Offeror and Viston have no knowledge that would indicate that any statements contained herein relating to Petroteq, taken from or based on such documents and records are untrue or incomplete, neither the Offeror, Viston nor any of their respective officers or directors assumes any responsibility for the accuracy or completeness of such information, or for any failure by Petroteq to disclose events or facts that may have occurred or which may affect the significance or accuracy of any such information, but which are unknown to the Offeror and Viston.
Additional Information
This news release relates to a tender offer which Viston, through the Offeror, has made to Shareholders. The Offer is being made pursuant to a tender offer statement on Schedule TO (including the Offer to Purchase and Circular, the Notice of Variation and Extension dated February 1, 2022, the Second Notice of Extension dated February 24, 2022, the Third Notice of Extension dated April 14, 2022, the letter of transmittal and other related offer documents) initially filed by Viston on October 25, 2021, as subsequently amended. These materials, as may be amended from time to time, contain important information, including the terms and conditions of the Offer. Subject to future developments, Viston (and, if applicable, Petroteq) may file additional documents with the Securities and Exchange Commission (the “SEC”). This press release is not a substitute for any tender offer statement, recommendation statement or other document Viston and/or Petroteq may file with the SEC in connection with the proposed transaction.
This communication does not constitute an offer to buy or solicitation of an offer to sell any securities. Investors and security holders of Petroteq are urged to read the tender offer statement (including the Offer to Purchase and Circular, the Notice of Variation and Extension dated February 1, 2022, the Second Notice of Extension dated February 24, 2022, the Third Notice of Extension dated April 14, 2022, the letter of transmittal and other related offer documents) and any other documents filed with the SEC carefully in their entirety if and when they become available as they will contain important information about the proposed transaction. Any investors and security holders may obtain free copies of these documents (if and when available) and other documents filed with the SEC by Viston through the web site maintained by the SEC at www.sec.gov or by contacting Kingsdale Advisors, the Information Agent and Depositary in connection with the offer, within North America toll-free at 1-866-581-1024, outside North America at 1-416-867-2272 or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it..
For More Information
Media inquiries:
Hyunjoo Kim
Vice President, Strategic Communications and Marketing
Kingsdale Advisors,
Direct: 416-867-2357
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For assistance in depositing Petroteq Common Shares to the Offer, please contact:
Kingsdale Advisors
130 King Street West, Suite 2950
Toronto, ON M5X 1E2
North American Toll Free: 1-866-581-1024
Outside North America: 1-416-867-2272
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www.petroteqoffer.com
TORONTO--(BUSINESS WIRE)--Superior Plus Corp. (“Superior”) (TSX:SPB):
July 2022 Cash Dividend - $0.06 per share
Superior Plus Corp. (“Superior”) today announced its cash dividend for the month of July 2022 of $0.06 per share payable on August 15, 2022. The record date is July 31, 2022, and the ex-dividend date will be July 28, 2022. Superior’s annualized cash dividend rate is currently $0.72 per share. This dividend is an eligible dividend for Canadian income tax purposes.
Upcoming Release of 2022 Second Quarter Results and Conference Call
Superior expects to release its 2022 second quarter results on Tuesday, August 9, 2022 after market close. A conference call and webcast to discuss the 2022 second quarter results is scheduled for 10:30 AM EDT on Wednesday, August 10, 2022. To participate in the call, register through the following link: Register Here. Internet users can listen to the call live, or as an archived call, on Superior's website at: www.superiorplus.com under the Events section.
About the Corporation
Superior is a leading North American distributor and marketer of propane and distillates and related products and services, servicing approximately 890,000 customer locations in the U.S. and Canada.
For further information about Superior, please visit Superior’s website at: www.superiorplus.com or contact: Beth Summers, Executive Vice President and Chief Financial Officer, Tel: (416) 340-6015, or Rob Dorran, Vice President, Capital Markets, Tel: (416) 340-6003, E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it., Toll-Free: 1-866-490-PLUS (7587).
Forward Looking Information
This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, "expects", "annualized", and similar expressions.
In particular, this news release contains forward-looking statements and information relating to future dividends, which may be declared on Superior’s common shares, the dividend payment, the tax treatment thereof, and the receipt of cash dividends. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms promptly. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Superior’s management's discussion and analysis and annual information form for the year ended December 31, 2021, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Beth Summers
Executive Vice President and Chief Financial Officer
Tel: (416) 340-6015
Rob Dorran
Vice President, Capital Markets
Tel: (416) 340-6003
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Toll-Free: 1-866-490-PLUS (7587)
LONDON--(BUSINESS WIRE)--Mission Zero Technologies (MZT) has been chosen to begin trialling their ground-breaking Direct Air Capture (DAC) technology previously developed with support from the UK government’s Department for Business, Energy & Industrial Strategy (BEIS), funded through the Net Zero Innovation Portfolio (NZIP). Phase 1 of the project saw the completion of the R&D work, FEED activities, and deployment planning exercise; phase 2 will see this realised into a working pilot plant alongside partners Optimus and O.C.O Technology Ltd.
The project’s £3 million funding is part of a wider pool of funding for emerging climate technologies recently released through BEIS. “This £54 million government investment announced today will help establish a greenhouse gas removal industry in the UK, which could be worth billions to our economy, bringing in private investment and supporting the creation of new green jobs,” said Energy and Climate Change Minister Greg Hands.
DAC is a carbon capture technology approach that focuses on removing CO2 directly from the atmosphere around us. Typically this requires significant amounts of heat and electricity and large commitments of capital, making the economics and commercialization timelines challenging.
MZT, a London-based startup, is disrupting the status quo with a modularized DAC technology that is projected to reduce both energy consumption as well as capture costs by over 4 times compared to today’s commercial offerings, with a roadmap to dropping below the $100/ton price point at commercial scales. Through partnership with Optimus and O.C.O, phase 2 will extend the application of this technology to reuse of the CO2 in the creation of Manufactured LimeStone, a valuable building material.
Shiladitya Ghosh, Co-founder and Chief Product Officer, MZT said “This programme is pivotal in our shared progress towards creating valuable materials from CO2 captured from the air. This has a monumental impact on the UK's and the world's journey to net zero and a carbon negative future.”
The scaled demonstration from phase 2 will be one of the first demonstrations of DAC integrating with a carbon-negative use case that both utilises and sequesters carbon (commonly known as CCU/CCS). While the project runs from mid 2022 to 2025, the plant is expected to come online in the middle of 2023. This will take MZT’s technology to TRL6*. Alongside developing the plant, MZT aims to involve local students and community organisations in knowledge dissemination activities about DAC.
*(TRL or Technological Readiness Level is a scale from 1-9, with 1 denoting basic research of an idea and 9 representing a fully-realised commercial implementation of a technology).
Chris West, CEO, Optimus, said: “Reversing climate change is the imperative of our generation, what could be more exciting to be involved in than a process that efficiently hoovers CO2 directly from the atmosphere! Having worked with Mission Zero now for almost 2 years, we have been inspired by their purpose from day 1 and are very excited to make our engineering design contribution towards the realisation of the pilot plant in phase 2 of this race.”
Further to this, the use of sequestered carbon in creating limestone will be a breakthrough in providing circular use cases for captured CO2. This is significant for providing a market for captured CO2 usage and creating building materials which permanently capture the CO2 and can be used for critical infrastructure.
Richard Skehens, chairman, O.C.O Technology, said: “There is no doubt carbon capture has huge potential and we are very excited to be involved in the next stage of this development. “Combining Mission Zero’s DAC technologies with our own ability to to use the CO2 in the manufacture of a carbon negative aggregate, is both a positive step for the environment and delivers practicality in the form of sustainable building materials for the future.”
This funding was awarded through phase 2 of the Direct Air Capture and other Greenhouse Gas Removal Technologies competition organised by BEIS. This is the first competition of its kind in the UK and is aimed at accelerating the development of early-stage technologies for removing greenhouse gases (gases such as CO2 that contribute to global warming) from the atmosphere. The proliferation of and public support for such technologies are critical for achieving Net Zero targets and mitigating climate change.
About MZT
Based in London, UK, Mission Zero Technologies is a young and exciting DAC startup, backed by Breakthrough Energy Ventures and Anglo American, with a patent-pending breakthrough technology and is on a mission to close the carbon cycle. Since its incorporation in the summer of 2020 by spinning out from Deep Science Ventures, the company has won various accolades and has featured on multiple shortlists including the 2020 Diamond List. MZT is currently developing its first pilot for launch in 2023 , in partnership with O.C.O Technology and is planning a first commercial project, Project Hajar, with 44.01. Visit https://www.missionzero.tech to learn more.
OCO
O.C.O Technology Ltd is a world leader in the permanent capture of CO2. Built on more than 20 years of award-winning research, O.C.O’s Accelerated Carbonation Technology (ACT) utilises carbon dioxide gas as a resource to treat and valorise a wide range of wastes, including Air Pollution Control residues (APCr). The ACT process transforms the waste material into an artificial aggregate – known as Manufactured LimeStone (M-LS). Because more CO2 is permanently captured than is used in the manufacturing process, M-LS has been recognised as the world’s first carbon negative aggregate. With a current turnover of some £20 million and UK operations in Suffolk, Leeds and Avonmouth, the company is broadening the use of its technology into other waste material markets worldwide, with a major concentration on the permanent capture of CO2 and supporting organisations in their drive towards cutting carbon emissions. For more information on O.C.O Technology, please visit https://www.oco.co.uk.
About Optimus
Optimus is a well-established, highly experienced, specialist engineering, consultancy and project delivery company who combine decades of proven expertise and strategic insight to deliver simple, responsive and cost-effective solutions to the energy industry. Optimus continues to diversify its services and capability into sustainable energy markets and providing decarbonisation solutions. Our multi-disciplined team brings deep technical know-how and time-served pragmatic project experience. This team will develop an engineering solution which will support Mission Zero in this exciting opportunity to move the dial on Direct Air Capture technology now and make a positive impact on the world for generations to come. We are absolutely delighted to be associated with this exceptional project. For more information on Optimus, please visit www.optimusaberdeen.com.
About BEIS (Department for Business, Energy & Industrial Strategy)
This funding has been made available from the UK government’s £1 billion Net Zero Innovation Portfolio, which aims to provide funding for developing technologies that enable the removal of carbon dioxide and other greenhouse gases from the atmosphere in the UK. This programme will support the design and feasibility of these technologies through to the demonstration of fully functioning pre-commercial units.
Shiladitya Ghosh
07751502290
TEL AVIV, Israel--(BUSINESS WIRE)--ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, today announced it has signed a memorandum of understanding (MOU) with Aleees, a Taiwanese manufacturer of lithium iron phosphate (LFP) battery cathode materials. As part of the understanding, Aleees will grant licensed technology on LFP to ICL and will also provide the company with technical information and support services to accelerate the development of cathode material production in the United States.
Plans call for ICL to establish production of 30,000 metric tons, and also future ramp up, for LFP battery cathode materials at its manufacturing campus in St. Louis, which is also its North American headquarters and where the company has a global R&D center.
“We’re looking forward to collaborating with Aleees, a premier LFP technology provider, with customers in Japan, South Korea, Europe and the United States,” said Philip Brown, president of ICL Phosphate Specialties and managing director of North America. “ICL is excited to lead the establishment of a localized, integrated, sustainable supply chain of LFP battery materials for U.S.-based customers and to reduce the risk for U.S. companies currently dependent on foreign supply of LFP materials.”
“The global energy storage market has clearly shifted toward LFP batteries as the dominant, more sustainable, safer and cost-effective solution, and we expect our future production to be exclusively dedicated to this area, with our demand estimated to surpass 170,000 metric tons by 2025, and 500,000 metric tons by 2028,” said Edward Chang, president of Aleees.
About ICL
ICL Group is a leading global specialty minerals company, which also benefits from commodity upside. The company creates impactful solutions for humanity's sustainability challenges in the global food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its passionate team of talented employees, and its strong focus on R&D and technological innovation, to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2021 revenues totaled approximately $7 billion.
For more information, visit ICL's website at www.icl-group.com.
To access ICL's interactive ESG report, please click here.
You can also learn more about ICL on Facebook, LinkedIn and Instagram.
About Aleees
Aleees is a manufacturer of lithium iron phosphate battery cathode materials, with a number of world-famous battery, electric vehicles and energy storage customers in Japan, Korea, Europe and the United States. Aleees develops and produces lithium iron phosphate battery cathode materials with high-quality, high cost-performance and high life-cycle. In the 17 years since its establishment, the cumulative shipment has exceeded 15,000 tons, and the cumulative revenue has been nearly $250 million. Adhering to the concept of "sustainable human survival and environment-friendly," Aleees won the National Sustainable Development Award in 2013. In respect of corporate governance, Taiwan Stock Exchange (TWSE) has jointly conducted governance evaluations, and Aleees has been ranked among the top 5% of all listed companies in Taiwan for seven consecutive years, remarkable achievements in corporate governance.
Forward Looking Statements
This announcement contains statements that constitute forward‑looking statements, many of which can be identified by the use of forward‑looking words such as “estimate,” “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend” and “potential,” among others.
Forward-looking statements appear in this press release and include, but are not limited to, statements regarding the company’s intent, belief or current expectations, including LFP battery cathode materials production estimates. Forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Such statements are subject to risks and uncertainties, which are derived from, among other things, that the non-binding MOU, as the underlying transaction, depends and relies upon the fulltime of certain conditions. Actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: estimates, forecasts and statements as to management's expectations with respect to, among other things, the consummation of those certain conditions, which the MOU and entire transaction are subject to, business and financial prospects, financial multiples and accretion estimates, future trends, plans, strategies, positioning, objectives and expectations, general economic, market and business conditions, supply chain and logistics disruptions, LFP market growth, which is dependent, among other things, on energy storage and electric vehicle growth, the potential for new COVID-19 variants, global unrest and conflict, governmental and regulatory requirements and actions by governmental authorities, including changes in government policy, changes in environmental, tax and other laws or regulations and the interpretation thereof. As a result of the foregoing, readers should not place undue reliance on the forward‐looking statements contained in this press release concerning the estimated production quantities, timing of the transaction, or other more specific risks and uncertainties facing ICL, such as those set forth in the “Risk Factors” section of its Annual Report on Form 20-F filed on February 23, 2022, as such risk factors may be updated from time to time in its Current Reports on Form 6-K and other filings ICL makes with the U.S. Securities and Exchange Commission from time to time.
Forward-looking statements refer only to the date they are made, and the company does not undertake any obligation to update them in light of new information or future developments or to publicly release any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.
Investor Relations Contact
Peggy Reilly Tharp
VP, Global Investor Relations
+1-314-983-7665
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Press Contact
Adi Bajayo
External Communications Director
+972-3-6844459
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