STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), a leading clean electrification company, today announced that on May 31, 2022 it signed separate, privately negotiated warrant exchange agreements with multiple holders of its public warrants to purchase shares of its Class A common stock (the “Public Warrants”), which are traded on the New York Stock Exchange under the symbol “AMPS WS.”
Pursuant to the exchange agreements, the Company will issue an aggregate of 981,113 shares of its Class A common stock in exchange for the surrender and cancellation of an aggregate of 4,087,962 Public Warrants, which were previously issued by the Company as part of its initial public offering in December 2020. The exchanges will reduce the total number of outstanding Public Warrants by 40.6%, to 5,974,528 from 10,062,490.
“These exchanges are a tremendous opportunity for Altus Power to manage dilution for our shareholders,” said Gregg Felton, Co-Chief Executive Officer of Altus Power. “We will monitor for further opportunities to improve our capital structure and deliver value to our shareholders.”
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein. The Public Warrants will expire on December 9, 2026 or on such earlier date as set forth in the terms of the Public Warrants in the warrant agreement governing the Public Warrants.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the nation’s premier clean electrification company. Altus Power serves its commercial, industrial, public sector and community solar customers by developing, owning and operating locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit www.altuspower.com to learn more.
Altus Power
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ANDOVER, Mass.--(BUSINESS WIRE)--#arasplatform--Aras, which provides the most powerful low-code platform with applications to design, build, and operate complex products, and Bureau Veritas, one of the world’s leading ship classification societies and offshore safety and verification bodies, announced they are deploying digital twin pilots across different markets to provide accurate and detailed information real time and further advance classification processes.
Bureau Veritas has embarked on a major revamping of its digital tools supporting its Marine & Offshore services. As part of this global program, the deployment of digital twin technology will enable Bureau Veritas to create a single source of truth for each ship and asset, ensure end-to-end traceability of ship data, anticipate the evolution of regulatory requirements, continuously update data from design to operations, and increase collaboration with real time access to ship data. As a result, Bureau Veritas will enhance its customer experience through solid and reliable data collection and updates that will support classification services. This digital twin will also be a foundation to further develop data services to improve safety, operational and environmental performance for all types of assets.
"Through our collaboration with Aras, we are bringing major innovation to the maritime industry that will provide our customers with an advanced and enhanced digital experience for all type of services. We chose Aras Innovator® for its flexibility and ability to adapt to our business needs. It will enable greater collaboration with our customers and facilitate data transfers and connections with our clients’ systems,” Laurent Hentges, Vice President – Digital Solutions & Transformation – Bureau Veritas Marine & Offshore.
“The implementation of the Aras platform will enable Bureau Veritas to create a true digital twin that reflects real time configuration and can trace operational and maintenance activities that have occurred to their vessels over time, all while connecting to other information systems like enterprise resource planning (ERP) or computerized maintenance management system (CMMS). We look forward to working with Bureau Veritas more broadly in the global digital transformation of its business processes," Stéphane Guignard, Aras Vice President of Operations in Europe.
Bureau Veritas’ digital classification strategy includes three pillars
These three pillars will be supported by the revamp of Bureau Veritas’ production tools into a collaborative, data centric platform connected to clients. The new platform will also be leveraged to support additional services such as energy efficiency.
With Aras, Bureau Veritas intends to enhance experience, service and valued delivered by making the digital twin collaborative and accessible to its customers. Bureau Veritas will continue to stay true to their mission of shaping a better maritime world by keeping vessels safe, compliant, and environmentally friendly throughout their entire operating life.
About Bureau Veritas
Bureau Veritas is a world leader in laboratory testing, inspection and certification services. Created in 1828, the Group has close to 80,000 employees located in nearly 1,600 offices and laboratories around the globe. Bureau Veritas helps its 400,000 clients improve their performance by offering services and innovative solutions in order to ensure that their assets, products, infrastructure and processes meet standards and regulations in terms of quality, health and safety, environmental protection and social responsibility.
Bureau Veritas is listed on Euronext Paris and belongs to the CAC 40 ESG, CAC Next 20 and SBF 120 indices.
Compartment A, ISIN code FR 0006174348, stock symbol: BVI.
For more information, visit www.bureauveritas.com, and follow us on Twitter (@bureauveritas) and LinkedIn.
About Aras
Aras provides the most powerful low-code platform with applications to design, build, and operate complex products. Its technology enables the rapid delivery of flexible, upgradeable solutions that build business resilience. Aras’ platform and product lifecycle management applications connect users in all disciplines and functions to critical product data and processes across the lifecycle and throughout the extended supply chain. Airbus, Audi, DENSO, Honda, Kawasaki, Microsoft, Mitsubishi, and Nissan are using the platform to manage complex change and traceability. Visit www.aras.com to learn more and follow us on Twitter and LinkedIn.
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HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that it has executed definitive agreements to sell $500 million principal amount of senior secured convertible notes, subject to customary closing conditions. The notes will bear interest at 6.0% per annum, expiring May 1, 2025, and will be convertible into shares of Tellurian common stock at an initial conversion price of $5.724, subject to customary adjustments.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, the notes in any state or jurisdiction in which the offer, solicitation, or sale of the notes would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.
Roth Capital Partners and Citigroup served as placement agents for the offering.
The offering was made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, by calling (800) 678-9147 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it., or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (800) 831-9146 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Tellurian Inc.
Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements herein relate to, among other things, the offering described herein. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include risks relating to a potential inability to complete the offering and the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2021 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 23, 2022, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
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Joins OPIS In Expanded Dow Jones Energy, Chemicals and Sustainability Vertical
NEW YORK--(BUSINESS WIRE)--News Corp announced that it has completed the acquisition of the Base Chemicals business from S&P Global Market Intelligence.
The business will operate under the name Chemical Market Analytics by OPIS, a Dow Jones company. News Corp acquired OPIS (the Oil Price Information Service) and related assets from S&P Global and IHS Markit in February.
Base Chemicals has a strong track record of growth, with a revenue base that is nearly 100% digital and recurring, and, similar to OPIS, has high margins with modest Capex requirements.
News Corp is acquiring Base Chemicals for $295 million in a cash transaction, subject to customary adjustments, and follows the UK Competition and Markets Authority request that IHS Markit divest Base Chemicals and OPIS as part of the S&P Global and IHS Markit merger. S&P Global and IHS Markit completed their merger in February. In connection with the Base Chemicals acquisition, News Corp expects to receive a step up in tax basis resulting in an annual deduction over the next 15 years with an estimated tax benefit of approximately $46 million on a present value basis.
“Base Chemicals, together with OPIS, will substantially extend the reach and strength of Dow Jones’ news and information capabilities in commodities, where the desire for data, analysis and insight is burgeoning, especially in energy, renewables, chemicals and related fields,” said Robert Thomson, Chief Executive of News Corp. “Dow Jones will capitalize on the appetite for trusted and accurate information for years to come, and we also see strong cross-sell and upsell potential using the potent Wall Street Journal, Investor’s Business Daily and MarketWatch audiences as a premium pool for customer leads. We are also delighted that the acquisitions of both Base Chemicals and OPIS came at a distinctly favorable price.”
Almar Latour, Chief Executive Officer of Dow Jones and Publisher of The Wall Street Journal said: “The business and teams we are welcoming to our company today have built one of the most trusted sources of information and analysis across the global chemical value chain. This knowledge and expertise is an excellent companion to OPIS, enabling us to expand into new customer segments as we continue to lay the foundations for our new energy, chemicals and sustainability vertical. Our collective skills and strengths, especially our shared legacies of providing trusted, rigorous information, open up a wide range of growth opportunities for Dow Jones.”
“We are very excited to welcome the talented team at Chemical Market Analytics to the Dow Jones family,” said Brian Crotty, general manager for OPIS. “Uniting Chemical Market Analytics' deep expertise and trusted reputation with Dow Jones’ global reach will enable us to deliver deeper and richer information and analysis to our customers. We look forward to the impact we’ll have together.”
Base Chemicals is known for its pricing data, insights, analysis and forecasting capabilities for the world’s most important base chemicals delivered through its leading Market Advisory and World Analysis services.
By becoming part of Dow Jones’ professional information business, it is expected Base Chemicals will benefit from Dow Jones’ expertise in news, research and events. Similarly, Base Chemicals’ rich analysis and forecasting capabilities provide opportunities for Dow Jones to enhance pricing, data and news solutions.
In its most recent fiscal year, ended November 30, 2021, Base Chemicals generated approximately $65 million in revenues. Base Chemicals’ revenues are geographically diverse, with more than 1,700 customers across a wide range of industries, and approximately 185 employees.
News Corp reported its FY 2022 Third Quarter results on May 5, 2022; the company had record third quarter revenues and profitability. Also in Q3, Dow Jones reported its highest third quarter revenue since its acquisition with 16% growth. The Dow Jones professional information business grew 13%, reflecting robust growth in Risk & Compliance and the inclusion of one month of OPIS results.
Gibson, Dunn & Crutcher LLP served as legal counsel for News Corp in the transaction.
Forward-Looking Statements
This release contains forward-looking statements based on current expectations or beliefs, as well as assumptions about future events, and these statements are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The words “expect,” “estimate,” “anticipate,” “predict,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. These statements appear in a number of places in this release and include statements with respect to, among other things, the potential benefits from the acquisition of Base Chemicals and OPIS. Readers are cautioned that any forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Many factors could cause actual results to differ materially from those described in these forward-looking statements. The forward-looking statements in this release speak only as of this date and News Corp and Dow Jones undertake no obligation (and expressly disclaim any obligation) to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
About News Corp
News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV) is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. The company comprises businesses across a range of media, including: digital real estate services, subscription video services in Australia, news and information services and book publishing. Headquartered in New York, News Corp operates primarily in the United States, Australia, and the United Kingdom, and its content and other products and services are distributed and consumed worldwide. More information is available at: http://www.newscorp.com.
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SDI to present Edge Computing use case in automated material handling for smart manufacturing and supply chain
MAYNARD, Mass.--(BUSINESS WIRE)--Stratus Technologies, a global leader in simplified, protected, and autonomous Edge Computing platforms, today announced that it will present, exhibit, and demonstrate its Edge Computing platforms, including the 2nd Generation ztC Edge platform and pre-validated control architectures developed with Rockwell Automation and Schneider Electric at the 26th annual ARC Industry Forum, Accelerating Industrial Digital Transformation and Sustainability, taking place June 6-9 in Orlando, FL. Additionally, Jason Andersen, Vice President of Business Line Management at Stratus will participate in IT/OT Convergence: A Foundation for Digital Transformation, and join Stratus customer Mike Higley, system architect at SDI for Best Practices in Smart Manufacturing discussing Edge Computing use cases for automated material handling.
“Edge Computing provides the foundation to accelerate digital transformation by bringing compute power to the shop floor, control room, or stranded asset,” said Stephen Greene, Vice President of Global Business Development and Marketing at Stratus. “Our customers are then able to run their critical applications close to equipment and processes without worrying about data loss or platform failure. As a result, they can focus on innovation and new outcomes rather than managing IT infrastructure. SDI is a great example of simple, protected, and autonomous Edge Computing in action that has resulted in expanded capabilities and new offerings.”
Mike Higley, system architect at SDI said, “SDI supports some of the largest retailers in the world who turn to us for our expertise in unit sortation and warehouse automation. Stratus ftServer is the heart and brain of our design architectures for running our WMS software and business rules. Downtime at a distribution center can cost a retailer as much as a million dollars a day, and the Stratus platform has not let us down. Therefore, we measure Stratus not just by the value of risk avoidance but by the relationships and credibility that’s enabled our business to grow consistently and achieve new levels.”
Stratus Demonstrates Turnkey Edge Computing Architectures
At booth #1, Stratus will be showcasing their 2nd Generation ztC Edge Platform, which is the industry’s first Edge Computing platform to combine built-in application virtualization and fault tolerance in an easy-to-install, ruggedized design for the industrial edge. They will also be showing Stratus ECX, an immersive environment that highlights use cases and applications where customers utilize Stratus’ simple, protected and autonomous Edge Computing Platforms.
To demonstrate how pre-validated and tested architectures can save engineering time, enable rapid deployment, and simplify OT and IT management, Stratus will also be highlighting:
Customer Success: Edge Computing’s Role in Smart Manufacturing
Andersen and Higley will be part of a panel, Best Practices in Smart Manufacturing, taking place on Wednesday, June 8 from 2-3:30pm ET. The panel will focus on the technologies, tools and solutions available to help manufacturers not only begin their digital transformation journey, but successfully deploy and scale a smart manufacturing approach, empowering manufacturers to adopt the latest technologies and manage technical and cultural challenges. Leveraging Stratus ftServer, SDI develops warehouse distribution solutions that are protected from data loss and enhance their industry- leading unit sortation systems deployed for the largest consumer brands in the country.
Andersen will also serve on the panel, IT/OT Convergence: A Foundation for Digital Transformation session, taking place Wednesday, June 8 from 4-5:30pm ET. This session will explore how companies have effectively integrated IT and OT systems, highlighting the technical and cultural hurdles they overcame, and the benefits realized versus the expectations.
To learn more about Stratus’ Edge Computing platforms, visit www.stratus.com, and for more information about the event, including a virtual forum on June 20-23, visit this link.
Additional resources:
About Stratus Technologies
For leaders digitally transforming their operations to drive predictable, peak performance with minimal risk, Stratus ensures the continuous availability of business-critical applications by delivering zero-touch Edge Computing platforms that are simple to deploy and maintain, protected from interruptions and threats, and autonomous. For 40 years, we have provided reliable and redundant zero-touch computing, enabling global Fortune 500 companies and small-to-medium sized businesses to securely and remotely turn data into actionable intelligence at the Edge, cloud and data center – driving uptime and efficiency. For more information, please visit www.stratus.com or follow on Twitter @StratusAlwaysOn and LinkedIn @StratusTechnologies
Stratus Technologies
Kristin Albano
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HANNOVER, Germany--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, and ETAP, the industry and technology leader in power system design and operation, today announced the integration of EcoStruxureTM Power Operation with ETAP Operator Training Simulator (eOTSTM) and ETAP Power System Monitoring & Simulation (PSMSTM) enabling model-driven power system training and predictive analysis for operators and engineers.
This unique integration allows all EcoStruxure Power Operation systems to connect with ETAP Electrical Digital Twin on a continuous real-time basis. With this connection, operators can create and understand power system behavior during various real-world or plausible operating scenarios. New operating procedures may be designed and validated against contingencies utilizing their familiar EcoStruxure Power Operation human-machine interface without the risk of affecting actual operations – all thanks to the underlying ETAP eOTS simulation and analysis platform
"A lack of power system intelligence can have huge financial impacts," said Sophie Borgne, SVP Digital Power at Schneider Electric. “The ability to integrate a digital twin with the Power SCADA system is a one-of-a-kind offering that will help companies avoid unplanned outages caused by human error, reduce start-up and commission times, and evaluate operator awareness and readiness.”
40% of unplanned shutdowns are due to operator missteps. Allowing power system engineers to anticipate potential failures and plan future systems expansions has real business impact as a lack of power system intelligence can cause huge financial losses. Oil and gas platforms experience up to $3 million in losses for every outage, a single electrical event in the semiconductor industry means a $3.8 million loss, while for hospitals, it’s roughly a $1 million loss per 8-hour outage. Using cutting-edge technology to improve system planning and design, recognize and correct potential hidden problems, and avoid unforeseen errors can prevent these costly system disruptions.
“Integrating real-time situational awareness, operations management and online electrical network analysis capabilities allows power system operators, engineers and facility managers to better visualize, analyze and optimize their electrical system operations,” said Tanuj Khandelwal, CEO of ETAP. “ETAP Electrical Digital Twin with its real-time foundation elevates EcoStruxure Power Operation enabling our customers to monitor, manage, control, and perform advanced power analysis within the same environment in a sustainable manner. It is exactly the situational intelligence facilities need to design and operate their networks on a common digital twin driving efficiency and cost savings.”
The ability to use live system data from Schneider’s EcoStruxure Power Operation to feed the Electrical Digital Twin significantly reduces system downtime and drives more accurate decision-making, along with:
To learn more, visit https://www.se.com/ww/en/product-range/65405-ecostruxure-power-operation/#overview. To learn more about the ETAP offering, please visit https://etap.com/solutions/eots for ETAP OTS and https://etap.com/packages/monitoring-simulation for ETAP PSMS.
Discover how the #PartnershipsOfTheFuture will help you #BuildItForLife
About ETAP
etap.com - ETAP is the global market and technology leader in modeling, design, analysis, optimization, monitoring, control, and automation software for electrical power systems. ETAP is the only verified & validated high-impact software in its class with a quality assurance program that ensures our solutions meet the highest standards and regulations.
ETAP's mission is to provide state-of-the-art products and superior engineering services by combining advanced technologies with the highest standard in quality to achieve overall customer satisfaction.
ETAP has been powering success for over 35 years by providing the most comprehensive and widely-used enterprise solutions for generation, transmission, distribution, industrial, transportation, and low-voltage power systems. Founded in 1986, ETAP is headquartered in Irvine, California, USA, with over 50 offices around the world.
Follow ETAP on LinkedIn, YouTube, Facebook and Twitter.
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About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Discover the newest perspectives shaping sustainability, electricity 4.0, and next generation automation on Schneider Electric Insights
Hashtags: #PressRelease #ETAP #digitaltwin #EcoStruxurePowerOperation #HannoverMesse
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FourKites scores highest in 3 out of 5 Use Cases in the Companion 2022 Gartner® Critical Capabilities for Real-Time Transportation Visibility Platforms report
AMSTERDAM--(BUSINESS WIRE)--FourKites®, the world’s leading real-time supply chain visibility platform, today announces that, for the second consecutive year, the company has been named a Leader in the 2022 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms* (RTTVPs). Out of 11 vendors evaluated in this report, FourKites is the only company positioned in the Leaders quadrant with the furthest Completeness of Vision.
In addition, FourKites scored the highest for Fortune 500 businesses with complex needs. According to the 2022 Gartner® Critical Capabilities for Real-Time Transportation Visibility Platforms, which “provides deeper insight into providers’ product and service offerings by extending the Magic Quadrant analysis”, FourKites ranked #1 in three of the five most advanced Use Cases.**
FourKites, the largest global visibility solution, tracks 2.5 million shipments per day across all modes and connects the global supply chains of 50% of the Fortune 500, including customers such as Cardinal Health, Bayer, Henkel, Dow, AB InBev, Cargill, Henkel, Coca-Cola, Constellation Brands, 3M, RHI Magnesita and Eastman. Over the last 12 months, FourKites has achieved over 40% YoY growth in global customers, nearly 80% growth in total shipments and 78% growth in connected facilities, the latter of which now total over 2.3 million individual facilities around the world.
“The new Gartner reports are clear: Real-time visibility is a must-have technology for any supply chain,” says Mathew Elenjickal, founder and CEO of FourKites. “FourKites is unwaveringly focused on developing solutions that specifically target our customers’ biggest pain points and add real business value. We’re proud to be recognised by Gartner as the industry’s visionary and the solution of choice for large enterprises with complex needs.”
What Customers Are Saying on Gartner® Peer Insights™
FourKites’ unique customer-driven innovation model continues to yield breakthrough capabilities at a rapid clip, underpinning the company’s top-rated ability to serve the world’s largest enterprises.
“FourKites’ platform is complete and mature from an ocean, rail and truck tracking perspective but they offer so much more when you start to look at their Yard Management and Appointment Scheduling tools. Their onboarding and customer success teams are professional and helpful. They are our partners in this ongoing journey.” — Supply Chain Professional, Retail
“[The things we like most about FourKites are:] 1. Ease of use and reporting functions that users can tailor to their needs. 2. Visibility platform that allows supply chain personnel to make decisions quickly to service our customers. 3. Product has been so successful here in the US that we are looking to expand to our international affiliates and offices.” — Director, Transportation & Logistics
“The Platform is exceptional in the volume of detailed information provided. The FourKites team was very detailed in their explanation of the system and the training they provided. The level of support from FourKites is outstanding. The continued assistance/follow-up from them has been out of the ordinary. The system continues to offer additional data to improve Ventura's service to the customer.” — Carrier Capacity & Development Manager, Manufacturing
“Our implementation of FourKites was completed in less time than anticipated. Overall, the project was handled very well by the various teams and the FourKites team was probably the best implementation team I have worked with in a project of this scope and size.” — Supply Chain Professional
“FourKites has been a great company to partner with. They have a strong customer service focus and tend to take product feedback through development to production surprisingly quickly. Their core tracking platform, while sophisticated, is remarkably intuitive and they seem to have an eye for end user experience in everything they produce.” — Transportation Sr. Manager, Manufacturing
FourKites Continues to Drive Unmatched Innovation
Amid another year of constant supply chain disruption, FourKites doubled-down on its customer-driven innovation model, as it welcomed nearly 80 customers to its new Innovation Partner Program. In 2021 alone, FourKites delivered more than 185 new products and features, nearly 40% of which were driven by Innovation Partners. Some of the company’s more recent innovations include:
In addition, last year FourKites was the sole supply chain company named an AI Trailblazer by Everest Group; was one of only four Transportation and Logistics companies to receive Inc.'s Best in Business Award; was one of The Software Report’s Top 100 Software Companies of 2021; and was named a Top Green Provider by Food Logistics.
* Gartner, Magic Quadrant for Real-Time Transportation Visibility Platforms, Carly West, 25 May 2022.
** Gartner, Critical Capabilities for Real-Time Transportation Visibility Platforms, Carly West, 24 May 2022.
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Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Magic Quadrant and Peer Insights™ are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
About FourKites
FourKites® is the #1 global supply chain visibility platform, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2.5 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching more than 200 countries, FourKites combines real-time data and powerful machine learning to help companies digitise their end-to-end supply chains. More than 1,000 of the world’s most recognised brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.
Media Contacts
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BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, and ETAP, the industry and technology leader in power system design and operation, today announced the integration of EcoStruxureTM Power Operation with ETAP Operator Training Simulator (eOTSTM) and ETAP Power System Monitoring & Simulation (PSMSTM) enabling model-driven power system training and predictive analysis for operators and engineers.
This unique integration allows all EcoStruxure Power Operation systems to connect with ETAP Electrical Digital Twin on a continuous real-time basis. With this connection, operators can create and understand power system behavior during various real-world or plausible operating scenarios. New operating procedures may be designed & validated against contingencies utilizing their familiar EcoStruxure Power Operation human-machine interface without the risk of affecting actual operations – all thanks to the underlying ETAP eOTS simulation and analysis platform
"A lack of power system intelligence can have huge financial impacts," said Sophie Borgne, SVP Digital Power at Schneider Electric. “The ability to integrate a digital twin with the Power SCADA system is a one-of-a-kind offering that will help companies avoid unplanned outages caused by human error, reduce start-up and commission times, and evaluate operator awareness and readiness.”
40% of unplanned shutdowns are due to operator missteps. Allowing power system engineers to anticipate potential failures and plan future systems expansions has real business impact as a lack of power system intelligence can cause huge financial losses. Oil and gas platforms experience up to $3 million in losses for every outage, a single electrical event in the semiconductor industry means a $3.8 million loss, while for hospitals, it’s roughly a $1 million loss per 8-hour outage. Using cutting-edge technology to improve system planning and design, recognize and correct potential hidden problems, and avoid unforeseen errors can prevent these costly system disruptions.
“Integrating real-time situational awareness, operations management and online electrical network analysis capabilities allows power system operators, engineers and facility managers to better visualize, analyze and optimize their electrical system operations,” said Tanuj Khandelwal, CEO of ETAP. “ETAP Electrical Digital Twin with its real-time foundation elevates EcoStruxure Power Operation enabling our customers to monitor, manage, control, and perform advanced power analysis within the same environment in a sustainable manner. It is exactly the situational intelligence facilities need to design and operate their networks on a common digital twin driving efficiency and cost savings.
The ability to use live system data from Schneider’s EcoStruxure Power Operation to feed the Electrical Digital Twin significantly reduces system downtime and drives more accurate decision-making, along with:
To learn more, visit https://www.se.com/ww/en/product-range/65405-ecostruxure-power-operation/#overview. To learn more about the ETAP offering, please visit https://etap.com/solutions/eots for ETAP OTS and https://etap.com/packages/monitoring-simulation for ETAP PSMS.
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About ETAP
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- Began trading on Nasdaq Capital Market; received $7.5M in second tranche of private placement -
- Signed global framework agreement with Philip Morris -
ROSH HAAYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, today announced financial results as of and for the three months ended March 31, 2022 and operational updates.
Key Highlights
● Began trading on the Nasdaq Capital Market (“Nasdaq”) under ticker symbol “BNRG” on May 25, 2022
● Signed framework agreement with Philip Morris for the supply of the Company’s bGen™ TES; signed agreement for a $9 million system in Romania.
● Selected by the Government Procurement Administration in Israel to supply heat energy using our bGen system under a potential Energy as a Service contract
● $10.4 million of cash and cash equivalents as of May 30, 2022
Management Commentary
“First quarter 2022 was an important and busy time for Brenmiller Energy,” said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. “In February, we signed a framework agreement and our first major commercial agreement with Philip Morris to provide our proprietary bGen thermal energy storage system. Under the $9 million plus agreement, we will provide Philip Morris Romania a system for delivery and commissioning by the end of 2023.”
“This project, in addition to our various projects with other customers, is expected to provide the foundation for Brenmiller to capitalize on the trend of decarbonization and fuel-efficiency in the global industrial and utility sector,” continued Brenmiller. “We have a robust pipeline of opportunities and expect additional commercial orders over the course of 2022, into 2023 and beyond.”
“Additionally, Brenmiller’s ordinary shares began trading on the Nasdaq on May 25, 2022 and will continue to trade in Tel Aviv where we have been listed since 2012,” Brenmiller added. ”The U.S. listing provides us greater exposure to the global financial markets and is expected to assist in providing the liquidity and capital we need to continue to grow the Company as we become a preeminent player in the global TES market.”
Balance Sheet Update
Brenmiller ended the first quarter of 2022 with $4.8 million of cash and equivalents and essentially no debt on the balance sheet. On May 24, 2022, the Company closed the second tranche of the investment by certain private investors pursuant to a securities purchase agreement dated October 29, 2021. As a result, the balance of $7.5 million of the $15 million private placement has been paid to the Company by such investors against the issuance of the Company’s securities. As of May 30, 2022, the Company had $10.4 million of cash and cash equivalents on its balance sheet.
Research and Development
Research, development, and engineering expenses were $1.32 million in first quarter 2022, compared to $0.86 million in first quarter 2021. The increase was primarily attributable to investments made to support its first utility scale pilot project with Enel in Italy and to support the acceleration of investment in its production capabilities.
Research, development, and engineering expenses, net breakdown:
| Three months ended March 31 | ||
2022 |
2021 |
|
| USD in thousands | ||
| Total research, development, and engineering expenses | 1,508 |
1,293 |
| Less — grants | (187) |
(432) |
1,321 |
861 |
|
New Project Awards
In February 2022, Brenmiller signed a five-year framework agreement with Philip Morris International (“PMI”) for the supply of its TES systems. The framework agreement sets terms, with adjustments based on the size, for Brenmiller to provide its TES system, bGen, at forty-one of PMI’s sites globally. Following the signing of the framework agreement with PMI, on February 28, 2022, Brenmiller signed an agreement with PMI for the purchase of a 31.5 MWh bGen unit in Romania for $9 million, with an option to expand the capacity to 52.5 MWh. The Company is currently in early design stages and plans to begin construction in early-2023 with completion in late-2023.
On May 25, 2022, the Government Procurement Administration of Israel issued a notice regarding its intent to engage with Brenmiller as a sole supplier for the purchase of heat energy at Wolfson Hospital in Israel. Under the proposed engagement, Brenmiller will install its TES system, bGen, integrate it with the hospital’s local energy system and maintain the installed system. Brenmiller plans to enter into an approximately $5 million, seven and one-half year contract with Wolfson Hospital under which it will supply heat energy at prices to be agreed between the parties. This is Brenmiller’s first potential project using a Energy As a Service business model. Under this business model, profit margins are expected to be higher than those in a traditional capital equipment sale and be more recurring in nature.
Dimona Israel Production Facility
In March, 2021, Brenmiller signed a EUR 7.5 million credit facility with the European Investment Bank to build a new state of the art production facility in Dimona, Israel. The Company predicts that the first tranche of up to EUR 4 million will be drawn down in June 2022. The production facility is currently under construction and will have a capacity to produce 1000 MWh per year of bGen thermal storage modules. The plant is planned to reach full capacity by the end of second quarter 2023, and will support current and potential future projects in the European and Middle Eastern regions.
Operational Update
Brenmiller is currently in the process of installing pilot projects in various geographic regions in an effort to demonstrate the use of its technologies for both industrial and utility scale applications, which are ultimately expected to support the commercialization of the technology. Its pilot projects are progressing as planned and are expected to reach major milestones over the next twelve months. Key updates to its pilot projects include:
● SUNY Purchase: The company is installing a 0.5 MWh thermal storage based co-generation station with the New York Power Authority (NYPA) at SUNY Purchase College in New York. The system includes hybrid charging with both exhaust gas and electricity. The project is currently in the commissioning phase with final delivery expected in the second quarter of 2022.
● Fortlev: Brenmiller is designing, manufacturing, and installing a 2 MWh TES with Fortlev in Brazil. The system will be charged with biomass. Brenmiller has completed the construction of the TES components, tested them, and shipped them to the project site. The project is currently in the commissioning phase with final delivery expected in the second quarter of 2022.
● Enel: Brenmiller is designing, manufacturing, and installing a 23 MWh TES system for a combined cycle power plant for Enel in Italy. This is the company’s first utility scale project. The project has finished the manufacturing stage, all storage modules have been shipped to the project site and installation is scheduled to be completed in July 2022. The next stage is hot commissioning and the project has already passed several milestone tests, including high pressure tests for its piping systems. Brenmiller expects to commission this project in the third quarter of 2022. Following its testing of the system, Enel will have an option to add additional storage capacity at the site.
Commitment to Sustainability
Brenmiller Energy develops and supplies sustainable thermal energy storage solutions. Its vision is to enable the penetration and utilization of renewable energy into various industries, using its proprietary TES technology. Although its business activities have a low environmental impact, the company is committed to creating, preserving, and delivering products which ensure the long-term quality of the environment.
Brenmiller's sustainability policy covers the use of materials, use of equipment, manufacturing processes, engineering output, care during construction at customer sites, and social responsibility.
The Company's sustainability policy and its fundamental principles are embedded through all the Company’s business activities. The policy applies to anyone accessing, participating, or impacting the Company’s business, including employees, consultants, and contractors.
Brenmiller's core business is to reduce its customers' environmental impact by reducing their greenhouse gas (“GHG”) emissions and helping them achieve net-zero CO2 targets. Therefore, Brenmiller is actively improving its operations, manufacturing methods, and products to reduce its own environmental impact.
Brenmiller' is committed to lowering its own GHG emissions. Its storage systems are designed and manufactured for a lifetime of 25 years and produced from sustainable and fully recyclable materials.
Brenmiller's TES system is flexible and can be integrated with both traditional energy sources and renewable energy sources. As a result, it offers a technological solution for decarbonizing the energy sector and can be an important part of the world’s transition to a low-carbon economy.
Greenhouse Gas Emissions
In accordance with global standardized frameworks to measure CO2 - Gas emissions (GHG protocol) Brenmiller examined its scope 1 and scope 2 GHG emissions from 2019 to 2021.Scope 1 describes all direct emissions from the Company's own operations and assets, including the Company's fleet of vehicles. Scope 2 describes indirect emissions from the consumption of power at the Company's facilities.
|
2019 |
2020 |
2021 |
Scope 1 (tons CO2-eq) |
38 |
55 |
67 |
Scope 2 (tons CO2-eq) |
119 |
78 |
127 |
Total (tons CO2-eq) |
157 |
133 |
194 |
Brenmiller expects to refine its scope 3 emissions data collection procedures over time and to include data on scope 3 emissions in the future.
Brenmiller is committed to being a leader in environmental sustainability. In its commitment to the environment, the Company complies and will continue to comply with relevant environmental standards such as ISO-14001 and ISO-45001, for which the Company is already certified.
Brenmiller will publish its first full and detailed Environmental, Social, and Governance (“ESG”) report in the fourth quarter of 2022. This report will reflect the ESG aspects of Brenmiller in a way that represents all its stakeholders. The report will examine the Company's business, strategy, and vision combined with its values and commitments for the coming years. The report will be written in accordance with acceptable methodologies such as Global Reporting Institute (“GRI”) transparency standards, Sustainability Accounting Standards Board (“SASB”) and the Sustainable Development Goals (“SDG”) of the United Nations.
Brenmiller is an active agent in the global effort to achieve the SDG of the United Nations and in realizing SDG's secondary goals that align with its business operations.
About Brenmiller Energy
Brenmiller Energy’s innovative thermal energy storage solutions are accelerating the electrification and decarbonization of the global economy. Founded in 2012 by Avi Brenmiller, former CEO of Siemens CSP and Solel, and a team of other experts in the field of renewable energy, its patented technology heats crushed rocks to very high temperatures, enabling utility and industrial customers to cost-effectively store energy and then convert this energy into steam, hot water, or hot air for a variety of applications. The Company has raised more than $90 million and is traded on the Tel-Aviv Stock Exchange and Nasdaq Capital Market. For more information visit https://bren-energy.com/ and follow us on LinkedIn -https://www.linkedin.com/company/brenmiller-energy/mycompany/
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses its pipeline of projects and expected additional commercial orders, its expected timeline for installing and completing its pilot projects that are underway, the expected drawdown from a financing facility with the European Investment Bank, the impact of the Nasdaq listing on its profile, growth, visibility and liquidity and the expected sustainability/ESG report. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, statements relating to its expectations to commercialize its framework agreement with PMI for the supply of its TES systems, statements relating to the delivery of its bGen thermal energy storage system to Philip Morris Romania by the end of 2023, statements relating to the engagement of the Company with the State of Israel for the provision by the Company of heat energy for Wolfson Hospital in Israel, statements relating to its Energy As A Service business model, statements relating to its expected production capabilities and the dates on which Brenmiller expects to achieve full production capacity at its production facility in Dimona, Israel, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's prospectus dated May 24, 2022 filed with the SEC, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
| Brenmiller Energy Ltd | |||
| CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSTION | |||
| (Unaudited) | |||
| March 31, | December 31, | ||
2022 |
2021 |
||
(Unaudited) |
(Audited) |
||
| Assets | USD in thousands |
||
| CURRENT ASSETS: | |||
| Cash and cash equivalents | 4,832 |
8,280 |
|
| Restricted deposits | 46 |
47 |
|
| Trade receivables | 180 |
162 |
|
| Receivables | 730 |
553 |
|
| Inventory | 93 |
95 |
|
| TOTAL CURRENT ASSETS | 5,881 |
9,137 |
|
| NON-CURRENT ASSETS: | |||
| Restricted deposits | 175 |
179 |
|
| Investment in joint venture | 41 |
- |
|
| Right-of-use assets, net | 1,383 |
3,018 |
|
| Property, plant and equipment: | |||
| Plant and equipment, net | 1,507 |
1,583 |
|
| Rotem 1 project | 665 |
679 |
|
| Total property, plant and equipment | 2,172 |
2,262 |
|
| TOTAL NON-CURRENT ASSETS | 3,771 |
5,459 |
|
| TOTAL ASSETS | 9,652 |
14,596 |
|
| LIABILITIES AND EQUITY | |||
| CURRENT LIABILITIES: | |||
| Short-term bank credit and loans | 1 |
5 |
|
| Trade payables | 171 |
264 |
|
| Prepaid income | 1,103 |
1,095 |
|
| Other payables | 1,526 |
1,623 |
|
| Provisions | 51 |
215 |
|
| Current maturities of lease liabilities | 863 |
954 |
|
| TOTAL CURRENT LIABILITIES | 3,715 |
4,156 |
|
| NON-CURRENT LIABILITIES | |||
| Lease liabilities | 920 |
2,448 |
|
| Liability for share options | 105 |
213 |
|
| Liability for royalties | 2,296 |
2,236 |
|
| TOTAL NON-CURRENT LIABILITIES | 3,321 |
4,897 |
|
| TOTAL LIABILITIES | 7,036 |
9,053 |
|
| EQUITY : | |||
| Share capital | 79 |
79 |
|
| Share premium | 45,648 |
45,648 |
|
| Receipts on account of warrants and capital components of convertible loans | 1,176 |
1,176 |
|
| Capital reserve from transactions with controlling shareholders | 54,061 |
54,061 |
|
| Capital reserve on share based payments | 1,579 |
1,318 |
|
| Foreign currency cumulative translation reserve | (1,186) |
(1,053) |
|
| Accumulated deficit | (98,741) |
(95,686) |
|
| TOTAL EQUITY | 2,616 |
5,543 |
|
| TOTAL LIABILITIES AND EQUITY (NET OF CAPITAL DEFICIENCY) | 9,652 |
14,596 |
|
| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | ||||
| (Unaudited) | ||||
Three months ended March 31, |
||||
2022 |
2021 |
|||
USD in thousands (except per share data) |
||||
| REVENUES | 20 |
- |
||
| COSTS AND EXPENSES: | ||||
| COST OF REVENUES | (500) |
(2,164) |
||
| RESEARCH, DEVELOPMENT AND ENGINEERING EXPENSES, NET | (1,321) |
(861) |
||
| SHARE IN LOSS OF JOINT VENTURE COMPANY | (32) |
- |
||
| MARKETING AND PROJECT PROMOTION EXPENSES, NET | (300) |
(192) |
||
| GENERAL AND ADMINISTRATIVE EXPENSES | (1,152) |
(560) |
||
| OTHER INCOME | 82 |
2 |
||
| OPERATING LOSS | (3,203) |
(3,775) |
||
| FINANCIAL INCOME | 274 |
680 |
||
| FINANCIAL EXPENSES | (126) |
(37) |
||
| FINANCIAL INCOME, NET | 148 |
643 |
||
| LOSS FOR THE PERIOD | (3,055) |
(3,132) |
||
| OTHER COMPREHENSIVE LOSS – ITEM THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS – EXCHANGE DIFFERENCES ON TRANSLATION TO PRESENTATION CURRENCY | (133) |
(148) |
||
| COMPREHENSIVE LOSS FOR THE PERIOD | (3,188) |
(3,280) |
||
| LOSS PER ORDINARY SHARE (in Dollars) | ||||
| Basic loss* | (0.22) |
(0.27) |
||
| Fully diluted loss* | (0.23) |
(0.32) |
||
*Retroactively adjusted to give effect to a two-for-one reverse stock split of the Ordinary Shares which became effective on February 20, 2022.
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| (Unaudited) | |||
Three months ended March 31, |
|||
2022 |
2021 |
||
USD in thousands |
|||
| CASH FLOWS - OPERATING ACTIVITIES: | |||
| Net cash used for operating activities (see Appendix A) | (3,076) |
(1,644) |
|
| CASH FLOWS - INVESTING ACTIVITIES: | |||
| Purchase of equipment | (12) |
(10) |
|
| Installation of a production line | (6) |
(60) |
|
| Investment in joint venture | (74) |
- |
|
| Restricted deposits, net | - |
1 |
|
| Net cash used for investing activities | (92) |
(69) |
|
| CASH FLOWS - FINANCING ACTIVITIES: | |||
| Proceeds from issuance of shares and warrants, net | - |
8,473 |
|
| Exercise of options and warrants | - |
20 |
|
| Repayment of bank loan and interest thereon | (4) |
(4) |
|
| Payments with respect to lease liabilities and interest thereon | (85) |
(156) |
|
| Repayments of royalties' liability | - |
0 |
|
| Grants recognized as liability for royalties | - |
24 |
|
| Repayment of shareholder's loan | - |
(949) |
|
| Net cash provided by financing activities | (89) |
7,408 |
|
| NET INCREASE IN CASH AND CASH EQUIVALENTS | (3,257) |
5,695 |
|
| EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | (191) |
(233) |
|
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 8,280 |
2,278 |
|
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 4,832 |
7,740 |
|
Three months ended March 31 |
|||
2022 |
2021 |
||
USD in thousands |
|||
| APPENDIX | |||
| A. NET CASH USED FOR OPERATING ACTIVITIES | |||
| Loss for the period | (3,055) |
(3,132) |
|
| Adjustments for: | |||
| Depreciation | 61 |
64 |
|
| Amortization of right-of-use assets | 139 |
98 |
|
| Increase (decrease) in research and development expenses due to royalty obligation | 105 |
(73) |
|
| Provision | (159) |
1,346 |
|
| Share in loss of joint venture company | 32 |
- |
|
| Other income | (80) |
- |
|
| Fair value adjustment of share options' liability | (102) |
(618) |
|
| Other financial expenses | 49 |
46 |
|
| Share-based payment | 261 |
55 |
|
(2,749) |
(2,214) |
||
| Changes in operating working capital: | |||
| Increase in trade and other receivables | (209) |
(7) |
|
| Decrease in inventory | 0 |
192 |
|
| Increase (decrease) in trade and other payables | (118) |
385 |
|
| Net cash used for operating activities | (3,076) |
(1,644) |
|
| Derecognition of Lease liability and right-of-use asset | 1,432 |
- |
|
| INTEREST PAYMENTS (included in financing activities items) | 18 |
38 |
|
U.S. Investor:
Chase Jacobson, Vallum Advisors
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+1 980-265-2597
Media:
Isaac Steinmetz
Antenna for Brenmiller Energy
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Collaboration furthers Audubon’s growth in GOM and adds to extensive offshore experience
HOUSTON--(BUSINESS WIRE)--#AudubonEngineering--Audubon Engineering Company LP (Audubon), a leading provider of engineering, procurement, construction, and fabrication services, has entered a three-year contract with Shell Offshore Inc., a subsidiary of Shell plc, to provide brownfield engineering and procurement (EP) services support for Shell’s Mars Corridor.
The contract, which comes with two one-year options to extend, covers some of Shell’s offshore assets in the US Gulf of Mexico, including its Mars, Olympus, Ursa, and Vito tension leg platforms. The water depths for this deep-water portfolio range from approximately 3,000 to 4,000 feet (914 to 1,200 meters).
The contract scope spans topside engineering and procurement services, encompassing single-well subsea tiebacks; crane, lifeboat, and HVAC replacements; controls, firewater system, and utility upgrades; gas-lift installation; and prefabricated skid packages.
Audubon’s strong local operating centers in New Orleans, Louisiana, and Houston, Texas, will execute the contract. This agreement continues the company’s track record of successfully delivering integrated engineering and technical services for Shell.
Ryan Hanemann, president of Audubon Engineering Company, said, “We’re delighted that Shell has selected Audubon to be its contractor for these assets. We are committed to driving value and efficiency for Shell to further enhance and extend productivity across its assets in the Mars Corridor.”
“Audubon is proud of our accomplishments in the GOM region, and this contract award further positions our business for growth and continued delivery in the area,” he added.
On Twitter:@audubonco
About Audubon Engineering Company LP
Founded in 1997, Audubon Engineering Company LP is a leading provider of integrated engineering, construction, fabrication, and technical services. Serving the energy, power, utility, industrial, and infrastructure sectors, our end-to-end lifecycle solutions help solve our clients’ toughest challenges. Leveraging technology, ingenuity, and experience, we deliver outstanding project outcomes for a more sustainable tomorrow.
For more information, visit auduboncompanies.com.
Ivonne Hallard
Sr. Director of Marketing and Communications
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HOUSTON--(BUSINESS WIRE)--Relevant Industrial, LLC (Relevant), a leader in the instrumentation and automation, rotating equipment, purification, and thermal equipment distribution and service sector, recently announced a territory expansion of their representation of Panametrics, a Baker Hughes business, to include Northern California and Texas. Relevant will now offer the full Panametrics product portfolio to California, Arizona, New Mexico, and Texas.
Panametrics, a Baker Hughes business, provides solutions in the toughest applications and environments for moisture, oxygen, liquid, and gas flow measurement. Relevant’s partnership with Panametrics will further expand its portfolio of analytical solutions to help customers with their critical measurements.
John Butts, Relevant Industrial’s Senior Vice President of Sales commented, “Our customers know that Relevant partners with companies that have well-known, widely deployed, and proven technologies. Panametrics not only meets but exceeds those standards.” Mr. Butts continued, “As an Authorized Channel Partner, Relevant aims to put Panametrics products in front of customers who need measurement products that provide the highest quality and perform under the harshest environments.”
Relevant Industrial has over 400 employees, covering key customer markets from the Texas and Louisiana Gulf Coast, north through Oklahoma and Arkansas to the Dakotas and Minnesota, and extending west through the Rockies, Southwest, and West Coast. Relevant has garnered a partnership with Honeywell that spans decades. Relevant also recently announced the purchase of Rawson/ICD - this acquisition expands the Honeywell Process Measurement and Controls territory into the eastern area of the United States.
About Relevant Industrial
Relevant Industrial, LLC was formed in 2010 to acquire Wilson Mohr, which traces its roots back to 1965. Since 2010, the company has grown organically and through numerous acquisitions, expanding its product portfolio and engineered solutions to a wide range of customer end markets. Relevant Industrial brings together the finest problem-solvers in the world: trained technicians, engineers, designers, and experts in a dozen other crafts focused on finding answers and delivering results. We sell parts and services, but our mission goes beyond that; we help customers realize new and better ways to operate more efficiently. Relevant serves customers in the Renewable Energy, Alternative Fuels, Semiconductor, Refining, Petrochemical Processing, OEM, Food processing, Upstream Oil & Gas, and Municipal markets through products and services including instrumentation and automation, rotating equipment, purification, and thermal equipment. Relevant Industrial is your partner for relevant solutions. For additional information about Relevant Industrial, visit relevantsolutions.com.
Panametrics, a Baker Hughes business
Niall Dowds
Senior Communications Manager
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Relevant Industrial
John Hutcheison
VP, Operations & Vendor Partner Manager
(281) 295-8823
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HOMEWOOD, Ill. & KARLSRUHE, Germany--(BUSINESS WIRE)--Mi-Jack Products, the industry leader in Rubber Tired Gantry (RTG) Cranes, container handling machinery, and technology for port and intermodal facilities, has announced a successful acquisition of Yardeye GmbH, a Germany-based automation, collision avoidance, and work zone protection provider for the port and rail container industries.
Yardeye’s RFID and GNSS-based equipment, personnel Real Time Locating System (RTLS), and Collision Avoidance System (CAS) fit seamlessly into Mi-Jack's Mi-Star® technology platform, which provides everything from differential GPS automated steering and GPS inventory management to virtualized operations view and centralized fleet management.
Combining both companies’ skilled and experienced technology groups into one will facilitate continued innovation and excellence for automation, collision avoidance, and work zone protection within ports and intermodal terminals.
Aaron Newton, VP of Sales for Mi-Jack, said, “By bringing these two similar but unique technology platforms together, the port and intermodal industries will now have an end-to-end automation solution with superior redundancy, led by a company [Mi-Jack] that’s been rooted in the container handling business for over 65 years.”
According to Simon Fiera, VP of Technology at Mi-Jack, “We see Yardeye as a key component of integrating into an agnostic crane manufacturing base for the purposes of automation and work zone protection. We look forward to the innovations and efficiencies that will come from combining the skillsets and experiences of both the European and North American technology teams.”
With this expanded footprint, Mi-Jack brings its world class support and service to Yardeye customers in North America and will provide Mi-Star technology solutions to ports and terminals across Europe. Mi-Jack provides 24/7/365 service and parts support and has a vast network of highly trained technicians and solutions experts that service customers both in-person and virtually.
Stephan Trauth, Managing Director of Yardeye, said, “We are very proud to join the Mi-Jack group. The know-how of both companies will generate more advanced capabilities and synergies. Together, we will provide an automation portfolio that sets new standards in the rail container industry. The network from Mi-Jack in the North American market and especially their competence will add more value and innovative ideas for our customers. We look forward to this new chapter!”
Christian Augustin, Founder of Yardeye and managing director of indurad said, “The team has been growing Yardeye since 2017 from a concept to a company with a global impact serving the intermodal and container handling industry. We are very proud with what we have achieved, and we believe that together with Mi-Jack, Yardeye will continue its success story, for our customers as well as our employees. indurad and I will continue to focus our activities on radar technology for bulk material handling.”
About Mi-Jack
Mi-Jack is recognized worldwide as an industry leader and innovator in rubber-tired gantry (RTG) cranes and other products and solutions globally. Mi-Jack's Mi-Star suite of automation technology includes AccuSteer, AccuStack, AccuView, VehicleView, and AccuFleet. Mi-Star is installed on thousands of pieces of equipment throughout the world.
Corporate headquarters are in Hazel Crest, Illinois at an ISO 9001:2017 certified facility that produces Translift™ and Travelift® RTG’s now in use on six continents. The company maintains four regional operations headquarters and five sales offices. Mi-Jack is part of the Lanco Group of Companies. For more information, go to www.mi-jack.com.
About Yardeye
Yardeye GmbH (www.yardeye.com) operates internationally with a focus on port automation and work zone protection in container terminals. By Yardeye’s unique GNSS, RFID, and collisional avoidance technology, terminals are able to identify and track cranes, vehicles, and personnel for efficient intermodal yard operations and work zone protection.
Mi-Jack
Aaron Newton, Vice President of Sales
(708)-596-5200
Yardeye
Stephan Trauth, Managing Director
Five-year framework agreement to implement automation software and technology will help paint manufacturer increase throughput and quality and reduce operating costs
PORSGRUNN, Norway--(BUSINESS WIRE)--Emerson (NYSE: EMR), a global provider of industrial automation technology and software, has announced a framework agreement with paint manufacturer Jotun to automate and digitalize its global manufacturing facilities. The five-year agreement will enable Jotun to implement Emerson’s digital technologies to enhance all aspects of manufacturing automation in new factories, and for selected upgrades in some of its 39 existing factories around the world.
Jotun is one of the world’s leading manufacturers of decorative paints and marine, protective and powder coatings. Through its agreement with Emerson, Jotun will increase process automation and create a standardized digital technology solution for new factory projects, which will help the company achieve increased throughput, uptime and product quality, while reducing operating costs.
“In securing a long-term automation partner with the expertise required to support our journey, we will have access to systems, competence and support serving our needs when constructing and operating technically advanced and efficient paint factories around the world,” said Fredrik Urdahl, Jotun’s group technical director - operations. “Emerson’s advanced automation technologies and focus on providing standardized project methodologies, as well as global and local support, were critical factors in our selection for collaboration.”
Jotun will initially focus on standardizing on Emerson’s modular, scalable and easy-to-use DeltaV™ distributed control system in new factory projects. The intelligent control will ensure consistent, integrated batch processes, minimizing risk to product quality and enhancing productivity.
The agreement also enables Emerson to deliver a wide range of automation solutions to improve Jotun’s manufacturing operations. These could include advanced sensor technologies, data management and analytics platforms, software applications, predictive maintenance and remote monitoring techniques and asset management tools.
“We have a long track record of helping companies introduce technologies and processes that lead to game-changing enhancements, and Emerson is committed to helping Jotun realize significant ongoing production efficiency improvements,” said Mark Bulanda, executive president of Emerson’s Automation Solutions business. “We will help support Jotun’s transformation efforts not only through our industry-leading portfolio of digital technologies and solutions, but also from our Project Certainty methodologies.”
For more information on Emerson’s DeltaV automation solutions, visit Emerson.com/DeltaV.
Additional resources:
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
For Emerson
Denise Clarke
512.587.5879
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~Turvo will continue to operate independently under its own brand, leadership and board of directors following acquisition~
~Acquisition is part of Lineage’s ongoing strategy to invest in technologies capable of transforming the global food supply chain~
~Turvo’s software platform unifies the supply chain by enabling real-time collaboration, visibility and execution across various transportation modes and geographies~
NOVI, Mich.--(BUSINESS WIRE)--#onelineage--Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has acquired Turvo Inc., a leading provider of supply chain management, collaboration, and visibility software. Financial terms of the transactions were not disclosed.
The acquisition is an extension of the companies’ long-standing partnership – including a previous investment in Turvo by Lineage Ventures – and combined vision for supply chain collaboration. With Lineage’s backing, Turvo will continue to focus on its customers, accelerate innovation in its technology offering and expand into new and adjacent markets under its own brand as a wholly owned subsidiary of Lineage.
“Lineage’s acquisition of Turvo was a natural extension of our partnership, through which we successfully launched Lineage Link™ last year,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage. “We wholeheartedly believe in Turvo’s mission to increase visibility and synergies within the supply chain, and we see this as an opportunity for additional value creation for both Lineage and Turvo customers. I look forward to leading the new Turvo Board of Directors and working with leadership to advance its roadmap to drive smarter, more sustainable supply chains.”
“Today is an exciting time for Turvo’s employees, customers, and partners,” said Scott Lang, Chairman and CEO of Turvo. “With backing from Lineage and Bay Grove, Turvo will accelerate innovation with much greater reach and scale than ever before, further advancing supply chain digitization globally. Our customers will benefit from greater investments into our vision and our technology.”
“The acquisition comes amid a spike in demand for transportation and warehousing and at a time in which the supply chain faces unprecedented challenges,” said Sudarsan Thattai, Lineage’s CIO & Chief Transformation Officer. “In joining forces with Turvo, we have a unique opportunity to alleviate the impact of those challenges for customers. Driver shortages and port congestion, for instance, are addressable by decreasing the number of trucks or containers required to deliver a product from farm to fork. Turvo’s platform matches customers to truck, rail or container assets that would otherwise be underutilized.”
“Deepening our relationship with Turvo shows how committed we are to innovation that furthers our purpose of transforming the food supply chain to eliminate waste and help feed the world,” said Greg Lehmkuhl, President & CEO of Lineage. “Through this investment we will accelerate industry-leading technology that leverages supply chain synergies at scale, addressing issues of density and utilization across the network and decreasing complexity and waste in the supply chain for all participants, from customers to shippers to carriers.”
About Lineage Logistics
Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 400 strategically located facilities totaling over 2 billion cubic feet of capacity, which spans 20 countries across North America, Europe, and Asia-Pacific. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network and the development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was a 2022 U.S. Best Managed Company, No. 3 in the 2022 CNBC Disruptor 50 list, No. 17 in the 2021 CNBC Disruptor 50 list, the No 1. Data Science company, and 23rd overall on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)
About Turvo
Turvo provides the world’s leading collaboration application designed specifically for the supply chain. Turvo connects people and organizations, allowing shippers, logistics providers, and carriers to unite their supply chains, deliver outstanding customer experiences, collaborate in real-time, and accelerate growth. The technology unifies all systems, internal and external, providing one end-to-end solution to execute all operations and analytics while eliminating redundant manual tasks and automating business processes. Turvo customers include some of the world’s largest Fortune 500 logistics service providers, shippers, and freight brokers. Turvo is based in the San Francisco Bay Area with offices in Dallas, Texas, and Hyderabad, India. (www.turvo.com)
Media Contacts:
Lineage Logistics
Megan Hendricksen
949.247.5172
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Turvo, Inc.
Samantha Foley
214.263.3547
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TULSA, Okla., & HOUSTON--(BUSINESS WIRE)--Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced that the “no-charge” arrangement between the Magellan East Houston (“MEH”) and the Enterprise Crude Houston (“ECHO”) terminals to transfer crude oil delivered through the Midland WTI AGC futures contract (ICE: HOU) has been expanded to include deliveries conducted via ICE’s Exchange for Physical (“EFP”) and Alternative Delivery Procedure (“ADP”) mechanisms.
If customers take an HOU futures position to delivery and they are not matched by the exchange at the buyer’s preferred terminal, the barrels are transferred between the MEH and ECHO terminals at no cost. Magellan and Enterprise are expanding this arrangement to now include HOU futures customers who take delivery via ICE’s EFP or ADP mechanisms at one terminal and desire to transfer the barrels to the other terminal.
“Expanding the free pump-over to include EFP and ADPs provides customers added flexibility to optimize their use of capital while still realizing the savings on the transfer costs they would otherwise incur,” said Jeff Barbuto, Global Head of Oil Markets at ICE.
The waived transfer costs apply to EFP and ADP deliveries in addition to all volume that goes to delivery through the HOU futures contract and is executed in accordance with ICE’s rules, and will remain in effect through March 31, 2023. A 10-cent per barrel charge will continue to apply for all other general transfers meeting HOU quality specifications.
The EFP mechanism allows participants to exchange HOU futures positions for the equivalent quantity of underlying physical Midland WTI barrels in the same delivery month. The ADP mechanism allows a buyer and seller to vary the terms of the delivery including, but not limited to, the location. For questions or information regarding EFPs and ADPs, please refer to ICE's rules.
Since the contract began trading earlier this year, approximately 67,800 HOU futures have traded, representing 67.8 million barrels, including a record volume day on March 10 of 3,065 contracts. Open interest is at 2,647 contracts and goes out to January 2023.
###
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key United States inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner, as well as Magellan and ICE expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s, Magellan’s and ICE’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise, Magellan and ICE do not intend to update or revise their respective forward-looking statements, whether as a result of new information, future events or otherwise.
Magellan Contacts
Paula Farrell, Investor Relations (918) 574-7650, This email address is being protected from spambots. You need JavaScript enabled to view it.
Bruce Heine, Media Relations (918) 574-7010, This email address is being protected from spambots. You need JavaScript enabled to view it.
Enterprise Contacts
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
ICE Contacts
Mary Caroline O’Neal, Investor Relations, (770) 738-2151, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rebecca Mitchell, Media Relations, +44 7951 057 351, This email address is being protected from spambots. You need JavaScript enabled to view it.
ROSH HAAYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, will host a live webcast and conference call on Thursday, June 2, 2022, at 2:00 pm Israel Daylight Time, 7:00 am Eastern Daylight Time, to review its 2022 first quarter results and operational update. The webcast and conference call will also include a brief question-and-answer session.
Event: Brenmiller Energy 2022 First Quarter Results and Operational Update
When: 2:00 pm Israel Daylight Time, 7:00 am Eastern Daylight Time, June 2, 2022
Webinar ID: 891 7360 0818
Live Webcast: A live webcast of the conference call will be available on Zoom at https://us02web.zoom.us/j/89173600818
Dial Numbers:
A replay of the webcast and conference call will be available on Brenmiller Energy’s website after 5:00 pm Israel Daylight Time, 10:00 am Eastern Daylight Time on Brenmiller Energy’s website at bren-energy.com/presentation/.
About Brenmiller Energy
Brenmiller Energy’s innovative thermal energy storage solutions are accelerating the electrification and decarbonization of the global economy. Founded in 2012 by Avi Brenmiller, former CEO of Siemens CSP and Solel, and a team of other experts in the field of renewable energy, its patented technology heats crushed rocks to very high temperatures, enabling utility and industrial customers to cost-effectively store energy and then convert this energy into steam, hot water, or hot air for a variety of applications. The Company has raised more than $90 million and is traded on the Tel-Aviv Stock Exchange and Nasdaq Capital Market. For more information visit https://bren-energy.com/ and follow us on LinkedIn -https://www.linkedin.com/company/brenmiller-energy/mycompany/
U.S. Investor:
Chase Jacobson, Vallum Advisors
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+1 980-265-2597
Media:
Isaac Steinmetz
Antenna for Brenmiller Energy
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BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, has announced that its flash mitigation solution, ArcBlok™, was recognized as the Best Power Product and Most Innovative New Technology at the Electro Expo 2022.
ArcBlok is a game-changing innovation designed specifically for the line side of equipment, which poses the highest risk of injury to electrical contractors from incident energy exposure during an arc flash. The award-winning offer is an easy-to-use, passive, and cost-effective solution that protects people and equipment by reducing the potential damage and effects of arc flash incidents.
Designed for low voltage monitor control centers and switchboards (currently up to 2500A), the solution is equipped with digital thermal monitoring to help end users, facilities mangers, and more identify potential hazards. Specifically, ArcBlok includes the following features that bring a renewal of performance to flash mitigation:
“ArcBlok is the embodiment of Schneider Electric’s commitment to safety and giving customers tools that increase personnel and building safety while improving operations,” said Michael Lotfy, SVP Power Products NAM Hub at Schneider Electric. “We’re thrilled to receive industry recognition for our innovative ArcBlok solution. ArcBlok is a cost-effective solution to proactively identify and mitigate the dangerous risks posed by arc flashes, and we look forward to continue providing the next-generation tools the industry relies on to do their job as easily and safely as possible.”
Equipped with digital insights for predictive analysis and maintenance, ArcBlok can prevent arc flash incidents by enabling systems to isolate line side electrical conductors, reducing the likelihood of accidental contact. In the event an arc flash occurs, the innovative solution reduces incident energy exposure to less than 1.2 cal/cm2 on the line side and extinguishes it in less than one cycle (16ms) — reducing potential damage to equipment and personnel.
ArcBlok was built to meet customers’ increasing demands for a simpler and safer solution to address their incident energy. The system provides customers a way to install, commission and service for less costs, while simultaneously minimizing equipment downtime and reducing personal protective equipment requirements without compromising safety. Based on feedback from customers, SE plans to expand their family of ArcBlok offers with a new addition anticipated to launch later this year.
The Electro Expo Product Achievement Awards Program recognizes industry leaders for professionalism, ingenuity and originality in the power, lighting, communication systems and clean energy areas. Judges from across the industry chose winners based on specific criteria that recognizes a company’s devotion to product superiority and customer satisfaction. The Best Power Product is awarded to the most distinguished power product in the industry. The Most Innovative New Technology award is given based on a company’s demonstration of excellence through superior implementation of a new technology or innovative approach to the use of the technology.
Schneider Electric will showcase the award-winning ArcBlok and other innovative products and solutions that protect people and enhance equipment and building safety at the 2022 NFPA Conference & Expo® in Boston, June 6–9. Customers, media and analysts can learn about the solutions at Schneider Electric’s Safety Booth (#958) inside the Electrical Pavilion.
To learn more about ArcBlok, visit the ArcBlok product page on Schneider Electric’s website. Purchases can be through Schneider Electric.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On Follow us on: Twitter, Facebook, LinkedIn, YouTube, Instagram, Blog
Schneider Electric Media Relations – Vicki True; 774-613-1158; This email address is being protected from spambots. You need JavaScript enabled to view it.
PR Agency for Schneider Electric – Sarah Horowitz; 215-817-5202; This email address is being protected from spambots. You need JavaScript enabled to view it.
Fulfills commitment to reuse, rebuild, and repurpose legacy infrastructure into a multi-modal logistics hub
ST. GABRIEL, La.--(BUSINESS WIRE)--Willow Glen Terminal LLC (WGT), in St. Gabriel, Louisiana, today announced receipt of its inaugural product shipment. WGT has entered into an agreement to supply renewable fuel feedstock to a leading renewable diesel producer in Norco, Louisiana. Under the partnership, WGT will serve as a logistics hub, providing marine and truck transloading services as well as bulk liquids storage.
“We are very excited to open for business and couldn’t be more pleased with the positive support we’ve received from the community, state and local leadership, customers, and service providers,” said Stephen Senter, Vice President of Business Development at WGT. “Here at WGT, we’ve reimagined yesterday’s infrastructure for today’s economy, further equipping St. Gabriel, Iberville Parish, and the State of Louisiana for the energy transition underway.”
WGT acquired the 700-acre brownfield property in August 2020 with the goal of developing a multi-modal logistics hub. The property was formerly home to the Willow Glen Power Station, which was decommissioned in 2016. Over the course of the project, WGT recycled over 30,000 tons of steel and 1,000,000 pounds of copper.
“We had a unique opportunity to reuse, rebuild, and repurpose legacy infrastructure,” added Senter. “Our vision was to establish WGT as a model for sustainable redevelopment and opening for business is a major step forward.”
About Willow Glen Terminal
Willow Glen Terminal LLC (WGT) is a multi-modal logistics hub located in St. Gabriel, Louisiana, on the Mississippi River. WGT offers connectivity to the new energy economy through 2.25M bbls of existing bulk-liquids storage, a deep-water ship dock, 400+ developable acres, and on-property access to the Canadian National Railway and a major pipeline corridor. WGT was formed and capitalized in August 2020 by Zydeco Holdings LLC (a Yorktown Energy Partners portfolio company) and Willow Glen Ventures LLC. www.willowglenterminal.com
Stephen Senter
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Paid demonstration will provide validation of commercial-scale e-Zinc long-duration energy storage system
TORONTO--(BUSINESS WIRE)--#Battery--e-Zinc, the company enabling sustainable, long-duration energy storage with its zinc-air battery, announced it has entered into a collaboration for a pilot project with Toyota Tsusho Canada Inc. (TTCI) to further test and validate how commercial scale e-Zinc energy storage systems can reliably provide long-duration energy storage. This project will validate e-Zinc’s capability to store 24 hours of energy, which is approximately 10x that of traditional batteries.
The TTCI project is slated for spring 2023 and is one of several upcoming e-Zinc field demonstration projects, including e-Zinc’s $1.3 Million USD project with the California Energy Commission.
The project will be hosted at Eurus Energy America Corporation’s (EEAC) Bull Creek wind facility in Borden County, Texas (Bull Creek). The pilot program will store excess wind generation capacity in the e-Zinc battery system at Bull Creek. EEAC can then use the stored energy to power buildings at the local facility. e-Zinc’s system is expected to store power for 24 hours, an order of magnitude longer than typical batteries, and is better suited to the intermittency of wind generation than typical batteries.
The pilot project will deliver firsthand experience with e-Zinc’s disruptive technology, and potentially lead to future manufacturing, supply chain and commercial opportunities between TTCI and e-Zinc. Additionally, TTCI will apply its unique capabilities to support installation, integration, and system O&M.
“The most important aspect of this relationship is that TTCI’s interest extends far beyond this initial project – TTCI has identified e-Zinc as a high potential company with strategic alignment to its business,” said James Larsen, CEO at e-Zinc. “This project sets the stage for TTCI to support e-Zinc with manufacturing and supply chain capabilities, sales, and distribution support, as well as project deployment and service for a variety of market applications (e.g., remote mines, off-grid car dealerships, hospitals on weak grid, etc.).”
“This pilot demonstration between TTCI and e-Zinc is a key step in validating e-Zinc’s value proposition for integration and firming of renewable power,” said Sara Chamberlain, Managing Director of Energy Foundry, an early investor in e-Zinc. “The combination of e-Zinc’s innovation and TTCI’s project implementation expertise will propel the company forward into commercialized success.”
To learn more about e-Zinc, please visit www.e-zinc.ca.
About e-Zinc
e-Zinc is a zinc-air battery company based in Toronto. The company’s energy storage system can be up to 80 percent less expensive than comparable lithium-ion systems for long-duration applications. Importantly, its energy storage system can operate in cold and hot climates, and is made of abundant and recyclable materials. www.e-zinc.ca.
About Toyota Tsusho Canada Inc.
TTCI is a wholly owned subsidiary of Toyota Tsusho America, Inc. which, in turn, is a wholly owned subsidiary of Toyota Tsusho Corporation, the trading affiliate in the Toyota Group companies. The Toyota Tsusho group has been involved in the trading business in Canada since the 1980’s and founded TTCI as a trading and supply-chain specialist in Canada in 2002. Over the past two decades, TTCI has evolved from a trader in a limited number of commodities and finished goods to a multi-business enterprise which combines international trading with an expansive range of domestically targeted functions, such as supply chain services and intermediate goods processing. TTCI seeks to invest in technologies that promise long-term benefits for health, well-being, and sustainability. https://www.toyota-tsusho.com/english/
About Eurus Energy
Eurus Energy Holdings is a Tokyo-based corporation owned jointly by Toyota Tsusho Corporation and Tokyo Electric Power Company Holdings, Incorporated, and its group is actively pursuing renewable energy projects in Asia, USA, and Europe to meet the social needs for energy supply and reduction of environmental burdens. Eurus Energy Group also expanded operations into Australia, Egypt, Uruguay, and Chile in the southern hemisphere.
Eurus Energy Americas Corporation (“EEAC”) is a wholly owned subsidiary of Tokyo-based Eurus Energy Holdings and is responsible for renewable energy investment in the Americas, now comprising more than 567 megawatts of wind and solar power generation. https://eurusenergy.com/
About Energy Foundry
Energy Foundry, a Chicago-based venture capital platform, invests in today’s most promising energy innovators, and works with the world’s leading energy companies to build and scale new ventures. Their approach merges venture capital with the perks of partnership and includes an arsenal of essential tools and relationships to help bring great ideas to market. www.energyfoundry.com
e-Zinc Media:
Brandon Reid
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Energy Foundry:
Jackie Marolda
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+1 312-952-4961
HIGHLIGHTS
PERTH, Australia & NEW YORK--(BUSINESS WIRE)--Smart building materials company ClearVue Technologies Limited (ASX:CPV OTC:CVUEF) is pleased to announce its participation in an evaluation with Nodis Pte Ltd for a combined electrically switchable (or tuneable) window solution for the US Air Force.
The two companies have signed a Collaboration Agreement for the purposes of exploring ongoing joint opportunities with the US Air Force including smart window supply contracts, as detailed below.
Initial collaboration discussions between ClearVue and Nodis commenced in March 2018. In early 2021, Nodis commenced evaluation with the US Air Force for a first proof-of-concept solution combining Nodis’ TruTintTM switchable film with a ClearVue PV window deployed into a building operated by the US Air Force Civil Engineering Center. A first demonstration of this was shown to the US Air Force on 6 May 2021.
Nodis is a world leader in the development of a pioneering dynamic switchable glazing technology that uses Dipole Nanoparticle Suspension (or DNPS) to create an optical shutter system to block light transmission through glass. The Nodis product, marketed as TruTintTM, uses colour-coated nanoparticles, which are suspended in microscopic wells inside a nanoimprinted film and sandwiched between two sheets of glass. Electric power is connected to each side of a conductive film coating to create a low-cost, instantly switchable piece of smart glass with infinite tints and colours. By combining film layers containing red, green and blue nanoparticles to create low power, flexible digital displays within traditional window glazing is also possible.
Nodis has also been involved in a separate trial with Ohio State University’s Center for Design and Manufacturing Excellence (CDME) and the US Department of Defense Office of Economic Adjustment’s Supply Base Resilience and Diversification (SBRD) Program for exploration and development of ‘Camouflage Glass’ for potential deployment into DoD ‘Warfighters’. In this trial the Nodis smart glass technology is being used to create glass that adapts to its environment – acting as active camouflage.
Phase 1 of the Evaluation Completed
Phase 1 of the evaluation involved installation of several Nodis TruTintTM smart glass windows and a single ClearVue PV window implementing a PV smart glass unit at an evaluation being conducted at Tyndall Air Force Base in Florida, USA (https://www.tyndall.af.mil/). Nodis TruTintTM smart glass film was used to control the tint level and thereby the amount of light and infrared entering a US Air Force building, with control coming from Nodis’ Window Control System using IoT and powerline communications technologies.
As part of the Phase 1 evaluation, Nodis monitored the PV performance from the single combined PV smart glass panel via a solar charge controller which charges a battery enabling autonomous smart glass operation. Day to day PV smart glass performance continues to be monitored via remote monitoring.
Phase 2 of the Evaluation has now commenced
Phase 2 of the evaluation commenced in November 2021 but will now add an additional four ClearVue PV power generating windows in combination with Nodis’ TruTintTM film. The additional ClearVue units were delivered during April 2022 and are expected to be deployed at the Tyndall Air Force Base in June 2022, with testing and evaluation to be completed in August 2022, along with final evaluation and reporting shortly thereafter.
Following a successful Phase 2 evaluation by the US Air Force, Nodis will seek a third phase commercial engagement of Nodis and ClearVue to supply smart windows and glazing for upcoming US Air Force building projects.
Collaboration Agreement Signed
ClearVue and Nodis entered into a Collaboration Agreement on 27 May 2022 which outlines the parameters for commercial engagement (Phase 3) and more generally.
The Collaboration Agreement sets out the terms for collaborating on the promotion and joint development of ClearVue’s photovoltaic IGU and smart solar window solutions combined with Nodis’ TruTintTM dynamic switchable film.
Under the terms of the Collaboration Agreement, ClearVue and Nodis will work collaboratively together to:
Commenting on the Collaboration Agreement, Executive Chairman of ClearVue, Victor Rosenberg said:
“The Nodis TruTintTM product is at the cutting edge of the smart glass industry and is a perfect fit for ClearVue’s photovoltaic glazing solution. Nodis’ Dipole Nanoparticle Suspension dynamic glazing solution requires power inside the IGU or window to operate the control systems for switching and dimming the glass, and for powering and maintaining the state change in the Nodis DNP layer – which together we have already demonstrated through the Phase 1 evaluation with the US Air Force. To date, the combined Nodis and ClearVue solution has demonstrated the benefits of both solutions to the US Air Force: energy savings and energy generation offering a clear impact on sustainability and a path towards Net Zero. The next step is to complete Phase 2 of the US Air Force evaluation with Nodis and then to scale and commercialize a combined product for potential sales to the US Air Force and others.”
Commenting on the Collaboration Agreement, Chief Executive Officer of Nodis, Michael Holt said:
“The ClearVue PV IGU solution has demonstrated itself to be a great fit for use in supplying localised power to Nodis’ TruTintTM smart glass film. Getting power to windows, especially in a retro-fit application, has been historically difficult and expensive. A Nodis TruTintTM DNP glazing system combined with ClearVue PV and battery and can be deployed without the need for wiring to the window. Where wiring is used, our solution also uses powerline control of the windows themselves removing the risk of over-the-air hacking of the glazing inherent in wireless control methods using WiFi, Bluetooth or other communications protocols. We are looking forward to working with ClearVue on completion of our customer evaluations and then, subject to success of the same, look forward to working with ClearVue to explore licensing and sales opportunities together under the new Collaboration Agreement and more formal agreements that will follow.”
The Company looks forward to updating the market on the evaluation with the US Air Force and to its progress under the Collaboration Agreement.
Authorised by the Board of ClearVue Technologies Limited.
ABOUT NODIS CORP
Nodis’ TruTintTM smart glass technology enables glass to switch instantly from clear to opaque and any tint or colour in between. This allows for precise light, glare, and infrared control increasing a building’s energy efficiency and liveability while transforming any piece of glass into a transparent display. TruTint can reduce electricity usage and greenhouse gas emissions by 40% and is capable of significantly lowering a building’s energy costs. Maximizing natural light while controlling glare and infrared has been shown to improve productivity and mood while reducing headaches and eyestrain. TruTint’s revolutionary nanoparticle film is 10x lower cost to produce and integrate into new glass manufacturing or aftermarket glass products.
For more information visit: www.nodiscorp.com
ABOUT CLEARVUE TECHNOLOGIES LIMITED
ClearVue Technologies Limited (ASX: CPV) is an Australian technology company that operates in the Building Integrated Photovoltaic (BPIV) sector which involves the integration of solar technology into building surfaces, specifically glass and building façades, to provide renewable energy. ClearVue has developed advanced glass technology that aims to preserve glass transparency to maintain building aesthetics whilst generating electricity.
ClearVue’s electricity generating glazing technology is strategically positioned to compliment, and make more compelling, the increased use of energy-efficient windows now being regulated in response to global climate change and energy efficiency goals.
Solar PV cells are incorporated around the edges of an Insulated Glass Unit (IGU) used in windows and the lamination interlayer between the glass in the IGU incorporates ClearVue’s patented proprietary nano and micro particles, as well as its spectrally selective coating on the rear external surface of the IGU.
ClearVue’s window technology has application for use in the building and construction and agricultural industries (amongst others).
ClearVue has worked closely with leading experts from the Electron Science Research Institute, Edith Cowan University (ECU) in Perth, Western Australia to develop the technology.
To learn more please visit: www.clearvuepv.com
FORWARD LOOKING STATEMENTS
Statements contained in this release, particularly those regarding possible or assumed future performance, revenue, costs, dividends, production levels or rates, prices or potential growth of ClearVue Technologies Limited, are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.
ClearVue Technologies Limited
Mr Victor Rosenberg
Executive Chairman
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+61 8 9220 9020
Citadel-MAGNUS
Michael Weir / Russell Quinn
0402 347 032 / 0403 322 097
Profile Advisors
Rich Myers
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+1 347 774-1125
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