BARCELONA, Spain--(BUSINESS WIRE)--Wallbox (NYSE:WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced its participation in upcoming institutional investor-focused events during the month of June, 2022:
June 6, 2022: Bank of America EV Charging Summit
Co-founder and CEO Enric Asuncion will join Bank of America analyst Alexander Virgo for a virtual fireside chat. Virtual investor meetings will also be offered. Interested investors should reach out to their Bank of America sales contact directly.
June 8th at 8:00am EDT: Stifel Cross Sector Insight Conference
Douglas Alfaro, General Manager of Wallbox North America will join Stifel analyst Stephen Gengaro of Stifel for a live fireside chat in Boston. Interested investors can join in person or watch the live webcast here, or access it via the Events and Presentations section of the Investor Relations website at investors.wallbox.com.
June 14th at 10:25am EDT: Evercore ISI Clean Energy Mobility Conference
Co-founder and CEO Enric Asuncion and Jordi Lainz, CFO will join Evercore analyst James West for a live fireside chat in New York. In-person meetings with investors will also be offered. A replay of the fireside chat will be available following the event. Interested investors should reach out to their Evercore sales contact directly.
June 21st: Credit Suisse Mobility Forum
Co-founder and CEO Enric Asuncion will host virtual meetings with investors. No webcast will be provided. Interested investors should reach out to their Credit Suisse sales contact directly.
June 29th: Investor Meetings Hosted by Bank of America
CFO Jordi Lainz will host in-person meetings with investors in London. Interested investors should reach out to their Bank of America sales contact directly.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 100 countries. Founded in 2015 and headquartered in Barcelona, the company now employs over 1,000 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the timing of upcoming conferences and events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “predict,” “potential,” “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements, including those discussed under the caption “Risk Factors” in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Wallbox Public Relations Contact:
Elyce Behrsin
Public Relations
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+34 622 513 358
Wallbox Investor Contact:
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+1 404-574-1504
Evaluation Based on Completeness of Vision and Ability to Execute
PARIS--(BUSINESS WIRE)--#GartnerMQ--Shippeo, a global leader in real-time multimodal transportation visibility, today announced it has been positioned by Gartner, Inc. in the “Challengers” quadrant of the Gartner® Magic Quadrant for Real-time Transportation Visibility Platforms1. Shippeo is positioned furthest and highest on Ability to Execute and Completeness of Vision in the Challengers quadrant. The ‘ability to execute’ decision criteria take into consideration companies’ products and services, sales execution and pricing, customer experience and operations, as well as overall viability, market responsiveness and marketing execution. ‘Completeness of vision’ focuses on marketing understanding and strategy, sales strategy, product and vertical strategy, innovation, geographic strategy, and business model.
“We consider our position in the Gartner® Real-time Transportation Visibility Platform quadrant a reflection of the tremendous progress we’ve made across all aspects of our business over the past 12 months,” says Shippeo COO Lucien Besse, “as we continue to close in on our American competition with our growing US-based sales and operations teams.”
“We believe this positioning is also linked to our fast pace in product innovation. We’re proud to have recently launched our new Carbon Visibility solution for tracking CO2 and greenhouse gas emissions, as well as enhancements to our multimodal shipment tracking solutions, including 32% more accurate road ETA predictions and our improved Ocean Visibility milestone reporting and interface. We continue to bring more and more value to our customers and their supply chain ecosystems, which we believe is reflected in our 4.7/5 overall score from customers in Gartner® Peer Insights™ and shown by our 96%* ‘willingness to recommend’ score, which is the highest in our category.”
Disclaimer:
1 Gartner® “Magic Quadrant for Real-time Transportation Visibility Platforms 2022” by Carly West, 24 May 2022.
* Gartner Disclaimer: As of May 31st 2022 based on 113 reviews in the Real-Time Transportation Visibility Platforms market.
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. 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 and Magic Quadrant are registered trademarks and service marks and PEER INSIGHTS is a trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are 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 Shippeo
Shippeo is a global leader in real-time multimodal transportation visibility, helping major shippers and logistics service providers operate more collaborative, automated, sustainable, profitable, and customer-centric supply chains with highly accurate, real-time operational visibility and perfect workflow orchestration. Their Multimodal Visibility Network integrates with more than 875 TMS, telematics and ELD systems, enabling Shippeo’s platform to provide instant access to real-time shipment tracking across all transport modes, in a single portal, through an intuitive user experience. A proprietary and industry-leading machine learning algorithm offers unmatched ETA accuracy, allowing supply chain companies to quickly anticipate problems, proactively alert customers, efficiently manage exceptions with collaborative workflows, and accurately measure CO2 and GHG emissions from supply chain transport. Hundreds of customers, including global brands like Coca-Cola HBC, Carrefour, Renault Group, Schneider Electric, Total, Faurecia, Saint-Gobain and Eckes Granini, trust Shippeo to track more than 28 million shipments per year across 75 countries. Learn more at www.shippeo.com
Céline Bonniot, This email address is being protected from spambots. You need JavaScript enabled to view it., +33 (0)6 86 92 95 16
SOLON, Ohio--(BUSINESS WIRE)--#EnergyFocus--Energy Focus, Inc. (NASDAQ:EFOI), a leader in sustainable, energy-efficient lighting and controls systems and ultraviolet-c light disinfection products for the commercial, military maritime and consumer markets, today announced that Bob Smyles has been appointed Senior Director, Head of Government Sales. Mr. Smyles responsibilities include the coordination and direct sales of Energy Focus mission-critical military and commercial product lines and new technologies to U.S. and U.S. ally navies, all branches of the U.S. armed services, and U.S. federal, state and local governments, including DoD commercial real estate.
Mr. Smyles is a U.S. Naval Academy graduate and former Naval Flight Officer, and holds an MBA from Loyola College in Baltimore, MD where he graduated summa cum laude. He has most recently served as Executive Vice President, Sales at BOSS Controls, a Pittsburgh based technology company in the energy management and sustainability space, including selling Energy Savings as a Service to city, county, and federal governments. Mr. Smyles also has significant experience in successively advanced roles selling technology solutions to the U.S. Navy, Army, and Coast Guard at Eid Passport, Inc. out of Annapolis, MD.
Steve Socolof, Chairman and Interim CEO of Energy Focus commented, “This is a strategic hire to reinvest in the military maritime channel for the Company as we sustain and grow our government and military business. Bob really impressed us with his record of success in selling technology to U.S. armed forces and government agencies. Our military-spec lighting and commercial EnFocus™ and RedCap® product lines are a perfect fit for the demonstrated needs that our government agencies have for sustainable, human-centric circadian and emergency lighting solutions.”
“Joining Energy Focus at this pivotal time in the company’s development is an exciting new role for me in my career as a sales professional,” said Mr. Smyles. “Building a team to sell innovative lighting technologies and products that will enhance the health and protect the men and women who serve through our military and government agencies is a winning scenario that I am extremely happy and honored to be a part of.”
About Energy Focus
Energy Focus is an industry-leading innovator of sustainable light-emitting diode (“LED”) lighting and lighting control technologies and solutions, as well as UV-C Disinfection technologies and solutions. As the creator of the first flicker-free LED lamps, Energy Focus develops high quality LED lighting products and controls that provide extensive energy and maintenance savings, as well as aesthetics, safety, health and sustainability benefits over conventional lighting. Our EnFocus™ lighting control platform enables existing and new buildings to provide quality, convenient and affordable, dimmable and color-tunable, circadian and human-centric lighting capabilities. In addition, our patent-pending UVCD technologies and products aim to provide effective, reliable and affordable UVCD solutions for buildings, facilities and homes. Energy Focus’ customers include U.S. and U.S. ally navies, U.S. federal, state and local governments, healthcare and educational institutions, as well as Fortune 500 companies. Since 2007, Energy Focus has installed approximately 900,000 lighting products across the U.S. Navy fleet, including tubular LEDs, waterline security lights, explosion-proof globes and berth lights, saving more than five million gallons of fuel and 300,000 man-hours in lighting maintenance annually. Energy Focus is headquartered in Solon, Ohio. For more information, visit our website at www.energyfocus.com.
Media Contact:
DGI Comm
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Investor Contact:
Hayden IR
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MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the leader in the digital transformation of energy management and automation, announced today EcoStruxure Service Plan is now available for variable speed drives, cementing ongoing commitment to future-proofing customers’ businesses and delivering safety, resilience and sustainability.
Already available for Electrical Asset Management (Low and Medium Voltage Equipment such as transformers, switchgear and circuit breakers), Power Management Systems, and more recently, Three-Phase Uninterrupted Power Systems (UPS) 10-40 kVA, customers can now count with a combined field and digital services plan to their variable speed drives and rely on Schneider Electric Services deep expertise in Energy Management & Automation to get the maintenance they need at the right time through the following key benefits and features:
Condition-Based Maintenance for great business resilience for drives
Reflecting Schneider’s ongoing commitment to building future-proof business resilience for customers, EcoStruxure Service Plan for variable speed drives helps preventing downtime, maximize operational efficiency and contribute to the company’s sustainability goals, driving substantial improvements in customers’ assets safety, resilience, operational efficiency, and sustainability in the following areas:
Full access to Schneider Electric’s expertise and consultancy
Tapping into Schneider’s industry expertise and experience, Schneider combines a field & digital services plan with customized quarterly performance assessment reports provided by our Connected Services Hub and annual consultation done by a dedicated Customer Success Manager who understands customers’ strategic goals and tactical needs and acts as consultant helping them to take cost effective decisions related to their energy monitoring and management needs, which can reach to a modernization plan, or the creation and maintenance of an electrical digital twin, not only ensuring safety, compliance and readiness for the New Electrical World, but also delivering a seamless customer journey.
“At Schneider Electric, we believe we can accelerate the decarbonization journey for our customers, and bringing together advanced analytics and field support through our Services portfolio is key to unlocking this journey,” commented Frederic Godémél, Executive Vice President of Power Systems and Services at Schneider Electric. “By combining traditional expert consultancy, on-site services and powerful new digital services with IoT, we hope to free up customers’ headspace for business-critical decisions and provide them with the peace of mind that Schneider Electric Services has the resilience of their installation covered.”
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, endpoint 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.
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero, Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Leading EV charging provider to implement DER software to support grid resilience while generating recurring revenue for workplace clients
SAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Voltus, Inc., the leading distributed energy resource (DER) software platform, announced it has partnered with SemaConnect, a leader and pioneer in electric vehicle charging services, to offer cash generating opportunities to SemaConnect's workplace charging clients across U.S. and Canadian wholesale power markets.
"Integrating with Voltus is part of our strategic growth strategy allowing our stations to connect to wholesale power markets," said Mahi Reddy, CEO and Founder at SemaConnect. "As more workplaces plug into the EV grid, smart features such as grid optimization and access to cash generating market opportunities are essential to support the growth of EVs. Our integration with Voltus will drive grid reliability and open new avenues for our clients to recoup investments in EV charging infrastructure.”
“We are empowering SemaConnect’s workplace customers to earn cash while supporting grid resilience by connecting EV charging stations to operating reserves markets, beginning with the PJM Interconnection and followed by the remaining U.S. and Canadian markets,” said Gregg Dixon, CEO of Voltus. “As more companies welcome their employees back to the office, we believe workplace EV charging demand will grow, increasing customers’ earning potential.”
With over 15,000 stations throughout North America, SemaConnect is a leader in EV charging with a goal of making electrification of transport possible in this decade by developing and deploying smart, innovative, and cost-effective EV charging solutions worldwide.
The Voltus software platform connects DERs to electricity markets, maximizing the availability of these resources to grid operators. Comprised of all DER asset types, from the smallest DERs (e.g. smart thermostats and other residential resources) to the largest DERs (e.g. manufacturing facilities, data centers, big box retail), Voltus is the only DER software platform participating in all nine U.S. and Canadian wholesale power markets.
About Voltus
Voltus is the leading software platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
On December 1, 2021, Voltus announced its entry into a business combination agreement with Broadscale Acquisition Corp. (“Broadscale”) (Nasdaq: SCLE), a special purpose acquisition company (SPAC), that is expected to result in Voltus becoming a publicly listed company. The transaction is currently expected to close in the second quarter of 2022 and requires the approval of Broadscale’s stockholders, the registration statement being declared effective by the SEC, and other customary closing conditions.
About SemaConnect
SemaConnect is a leading provider and pioneer of electric vehicle charging infrastructure solutions to the North American commercial, residential and fleet market. A complete EV support partner, SemaConnect is making transportation electrification possible in this decade through innovative, elegantly designed charging stations, a robust and open network platform, and an unparalleled charging experience for drivers and station owners. Since our founding in 2008, SemaConnect has installed thousands of smart charging stations at top companies like CBRE, JLL, Hines, Greystar, Nike, Electrify America, and SP Plus. SemaConnect remains the preferred charging solutions partner to municipal, parking, multifamily, hotel, office, retail and commercial fleet customers across the United States and Canada. For more information, visit https://semaconnect.com/.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, revenue and other metrics, planned products and services, business strategy and plans, objectives of management for future operations of Voltus market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet Nasdaq's listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s amendment to its registration statement on Form S-4 (File No. 333-262287), filed with the SEC on March 18, 2022 (the “Registration Statement”) and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.
Use of Projections
This press release may contain financial forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.
Additional Information and Where to Find It
In connection with the proposed transaction, Broadscale has filed with the U.S. Securities and Exchange Commission the Registration Statement, which included a preliminary proxy statement and a preliminary prospectus. After the Registration Statement has been declared effective, Broadscale will mail a definitive proxy statement /prospectus relating to the proposed transaction to its stockholders as of the record date established for voting on the proposed transactions. Broadscale’s stockholders and other interested persons are urged to carefully read the Registration Statement, including the preliminary proxy statement / preliminary prospectus, and any amendments thereto, and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials contain, or will contain, important information about the proposed transaction and the parties to the proposed transaction.
Broadscale’s stockholders and other interested persons will be able to obtain free copies of the Registration Statement, the preliminary proxy statement / preliminary prospectus, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC, without charge, when available, at the website maintained by the SEC at www.sec.gov.
The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation
Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.
No Offer or Solicitation
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Investor Relations – Voltus
J.B. Lowe, VP of Investor Relations
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Media – Voltus
Matt Dallas, ICR, Inc.
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Media - SemaConnect
Stephen Carroll, SemaConnect, Inc.
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Top Federal, State and Local Officials Attend Event for generation-defining project
HOUSTON--(BUSINESS WIRE)--Port Houston, along with the U.S Army Corps of Engineers, is holding a major kick-off event officially starting the Billion-dollar expansion and deepening of the 52-mile Houston Ship Channel, Project 11. This infrastructure project should help to more safely and efficiently accommodate the larger import and export container cargo ships and tanker vessels calling the port, generating more jobs and economic activity to the region and state. The U.S. Army Corps of Engineers ranked the Houston Ship Channel #1 as the busiest waterway in the nation.
WHEN: |
Wednesday, June 1 at 8:30 a.m.- 10:00 a.m. |
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Leading Federal, State and Local Officials |
Assistant Secretary of U.S. Army Civil Work Michael Connor (Infrastructure Projects) |
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Maritime Administration Deputy Associate Administrator Bill Paape Congressional members and other elected officials |
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WHERE: |
Houston Ship Channel shore at |
U.S. Army Corps of Engineers Galveston District |
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2000 Fort Point Road |
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VISUALS: |
Houston Ship Channel Waterway |
The new eco-friendly Carolina Dredge specially-designed and created to reduce environmental impact to the Houston region, and multiple federal marine and working vessels representing industry used to protect and safely and efficiently move freight cargo and commerce through the channel. |
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SECURITY : Media please RSVP Lisa Ashley-Daniels, 832-247-8179 |
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BACKGROUND: |
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The Houston Ship Channel is the busiest port in the nation and supports more than 2 million Texas jobs and 3.2 million U.S. jobs and $801.9 billion in value to the U.S. economy. More than 200 private and eight public terminals align the Houston Ship Channel. |
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RSVP: |
Lisa Ashley, Director, Media Relations |
Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it. |
About Port Houston:
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel, including the area’s largest breakbulk facility and two of the most efficient and fastest-growing container terminals in the country. Port Houston is the advocate and a strategic leader for the Channel. The Houston Ship Channel complex and its more than 200 public and private terminals, collectively known as the Port of Houston it is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. The Port of Houston supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6 percent of Texas’ total gross domestic product (GDP) – and $801.9 billion in economic impact across the nation. For more information, visit Port Houston’s website at: www.porthouston.com.
FOR PLANNING PURPOSES ONLY. NOT FOR PUBLICATION OR BROADCAST.
Lisa Ashley, Director, Media Relations
Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
ATU and Allego sign contract for 400 new fast charging locations across the country
ARNHEM, Netherlands & BERLIN--(BUSINESS WIRE)--Allego Holding B.V. (NYSE: ALLG), a leading pan-European electric vehicle charging network, today announced a strategic partnership with ATU the market leader in Germany of automotive service and spare parts and accessories. With this agreement in place the EV charging infrastructure roll out in Germany is about to get an enormously strong boost: ATU and Allego have agreed to equip an additional 400 ATU branch locations with e-charging stations. This nationwide project and charging network is to begin as early as this year.
)"With the signing of the contract, we are playing a leading role in the expansion of e-mobility. Together with our partner Allego, we are meeting the challenges of the energy transition with a high-performance charging infrastructure at over 400 locations. At the same time, with this cooperation, we are further expanding our outstanding position as a service and accessory partner for e-mobility across the board," explains Lars Heyne, Managing Director for Transformation (CTO) at ATU. It is likely the partnership will go beyond the mere role out of this network, and strengthened with further joint projects and targeted activities in the areas of marketing, communication as well as developing special fleet offers.
High Power Charging Stations for Ultra-Fast Charging
Specifically, the partnership provides for the installation of fast charging stations at 400 ATU stores totaling around 900 charging points. Allego is investing a mid-double-digit million sum for this purpose, and ATU will provide the locations for the charging stations. Allego Managing Director Ulf Schulte explains: "We deliberately chose ATU for this major project. We were just so impressed by the strong branch network with attractive locations and motivated by our very successful cooperation to date spanning 41 locations already." Turning to the specifics of the agreement, Allego will lead on the construction and maintenance of the foreseen high-power charging stations. All of whom will at least have a 150 kW of charging capacity, enabling electric cars to charge up in a short time. "Currently, the plans foresee the start of the build out of 85 new locations already this year all in close cooperation with our partner ATU of course. In addition, the existing 41 locations will all be upgraded to 150 KW," Schulte continues.
According to ATU CTO Lars Heyne, the roll out of all of the foreseen infrastructure is to be expected on stream by the end of 2024: "However, the schedule will depend on delivery times and approval procedures and can therefore not be accurately predicted. " Given that 41 ATU locations are already equipped with charging stations, the nationwide network will grow over time to around 440 locations and will envelop over 80% of the entire ATU branch network in Germany.
All-round service for the electric mobility of the future
With the signing of the contract a successful partnership in the field of e-mobility services continues. Since 2017, Allego has been operating 41 fast charging stations at ATU branches throughout Germany, which are very well received by customers. "Our e-mobility service does not only include charging stations. ATU customers can already have their vehicle serviced and repaired by specially trained specialists for electric cars. Last but not least, e-vehicle manufacturers such as Aiways, with whom ATU is increasingly cooperating, are also relying on this service competence. A constantly growing range of accessories for electric cars is also available in our stores and in the ATU online shop," emphasizes Heyne. The fact that e-mobility is booming and setting the course for a sustainable future in road transport is illustrative by the experience obtained by the ATU branch network: "Last year, we repaired and serviced 140 percent more e-cars than before – and the trend is rising," explains Heyne.
About Allego
Allego is a leading European provider of charging solutions for electric vehicles. As a pioneer in the electromobility industry, Allego has many years of experience in the field of electromobility and the construction of fast charging stations taking into account all industry standards. Allego currently operates 26,000 public charging stations in 14 European countries, including Belgium, Denmark, France, Germany, Luxembourg, the Netherlands, Portugal, Sweden and the United Kingdom. The Allego network includes both AC (normal charging) and DC (fast charging) charging solutions, covering urban areas as well as major transport corridors and motorways across Europe. The Allego EV Cloud currently contains over 30,000 charging points and supports companies and electric car drivers via a cloud-based service platform. The platform offers a comprehensive service portfolio such as billing, charging point monitoring, mobile apps, portal access and analysis tools. For more information, see: www.allego.eu
The company ATU
ATU was founded in 1985 and is today the market leader in Germany with a unique combination of automotive service and shop for parts and accessories. Headquartered in Weiden, ATU operates more than 550 stores in Germany and Austria. The approximately 10,000 employees generate a turnover of around one billion euros per year. Since 2016, ATU has been part of the European market leader Mobivia. With 19 brands, over 2,000 branches and more than 22,000 employees, the French group of companies has unique know-how in the mobility sector. Gasoline, natural gas, electricity or hybrid - whatever drives the car, ATU provides automotive service for vehicles of all brands. The manufacturer's warranty is retained. At each location as well as in the online shop, ATU offers an extensive range of accessories and spare parts in OEM quality. The product worlds range from tires and rims to care products, travel accessories and transport items to alternative forms of mobility such as e-bikes and scooters as well as equipment for electric cars. ATU stands for a simple, convenient and sustainable customer experience. As a partner for all drivers, ATU enables a high level of quality at attractive prices - both for private customers and business customers of all fleet sizes. ATU has been actively committed to the environment for years. This environmental awareness is an integral part of the corporate strategy. With a capacity of 14 million tyres per year, ATU operates one of the largest tyre recycling plants in Europe. All other recyclable materials from the German branches are also processed and disposed of in the recycling centres in Weiden and Werl. In addition to continuously reducing its own CO2 footprint, ATU is constantly expanding its range of sustainable products through innovations such as retreaded tyres.
Arne Richters, Head of Public Affairs & Communication
Cell Phone: +32 (0)487-545611
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OSAKA, Japan--(BUSINESS WIRE)--Nippon Shokubai and Arkema are joining forces to launch feasibility studies and establish a joint venture for the construction of an industrial plant for the production of LiFSI (Lithium bis(fluorosulfonyl)imide) ultrapure electrolyte salt, a key component of battery cells for electric mobility.
Ultrapure and high performance LiFSI electrolyte salts, a key component of car battery cells, will speed up the development of new electrolyte formulations for the next generations of batteries, including semi-solid and solid state batteries, by significantly increasing their power, stability, cycle life, and recyclability, while reducing charging time in high or low temperature conditions.
This industrial project will support the development of the European battery value chain and participate in the global need for carbon-neutral mobility.
Combining Arkema’s fluorochemicals expertise and Nippon Shokubai’s unique know-how in the industrial-scale production of high-purity LiFSI, both partners have joined forces in a strategic partnership that has led to the development of an innovative and integrated process. Based on this cutting-edge patented technology, a LiFSI pilot production line has been installed on the Pierre-Bénite site and successfully came on stream in 2021.
To support the exponential growth in demand for battery cell materials, Arkema and Nippon Shokubai are taking a step forward by launching feasibility studies and establishing a joint venture to enable the mass-production of LiFSI electrolyte salt at Arkema’s Pierre-Bénite site in France by end 2025.
About Nippon Shokubai:
Since 1941, Nippon Shokubai has grown up its business with unique catalyst technology. Nippon Shokubai has supplied, for example, ethylene oxide, acrylic acid, automobile catalysts, process catalysts and so on. Among all, our global market share of superabsorbent polymers is the largest in the world now (according to Nippon Shokubai research). Nippon Shokubai is a global chemical company operating under its corporate mission "TechnoAmenity – Providing prosperity and comfort to people and society, with our unique technology."
About Arkema:
Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive Solutions, Advanced Materials, and Coating Solutions- accounting for some 85.5% of Group sales in 2021, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €9.5 billion in 2021, and operates in some 55 countries with 20,200 employees worldwide.
New Energy Materials Sales & Marketing Dept.,
Energy & Electronics Solutions Div.
NIPPON SHOKUBAI CO., LTD. (TOKYO:4114)
Shimpei SATO
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CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company has completed its acquisition of BHI Energy (BHI). The deal brings together two legendary energy companies to create the nuclear industry’s first fully integrated outage, maintenance and modification services business.
Incorporating the industry-recognized excellence of BHI’s service quality and customer partnerships, Westinghouse has expanded its global capabilities and expertise in nuclear plant maintenance and modification services, industrial services, power delivery, and complementary renewable offerings for solar, wind and hydro power.
“Both Westinghouse and BHI customers will benefit from the integrated industry-leading practices from both companies,” said Patrick Fragman, Westinghouse President and CEO. “The combination of these complementary organizations further strengthens our ability to serve the nuclear operating fleet through an expanded presence in our core business, while setting a new standard in outage and maintenance efficiencies.”
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
Cathy Mann
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MONTERREY, Mexico--(BUSINESS WIRE)--#alternativefuel--CEMEX, S.A.B. de C.V. (“CEMEX”) announced today the inauguration of its new Climafuel facility at its Rugby cement plant in the UK. This significant investment aims to allow the plant to eliminate the usage of fossil fuels, operating 100% on alternative fuels. Rugby is the first CEMEX plant to achieve this important milestone. Climafuel is a waste derived fuel which is made using household residual and commercial waste that would otherwise go to landfills. This is another major milestone in CEMEX’s global Future in Action decarbonization strategy.
CEMEX in Europe leads the industry in its decarbonization efforts. By the end of 2022, CEMEX is expected to achieve a 40% reduction in carbon emissions in Europe, well on the way to its target of a 55% reduction by 2030, a target aligned to the European Union’s decarbonization goal. With the investment at Rugby’s plant, CEMEX in Europe expects to process the equivalent annual residues of a city the size of Madrid or Berlin and is expected to achieve 70% alternative fuel substitution in the region this year.
CEMEX’s CEO, Fernando A. González, visited the Rugby plant and highlighted the success of the Climafuel investment. “I am proud of CEMEX Europe’s continued leadership in our carbon action strategy. It serves as the model for the rest of our regions. I expect CEMEX to continue leading the way in our decarbonization journey. This effort is not only the way to build a better future for the communities in which we operate and society at large but it is also the right thing for the future of the company. I look forward to continued progress on our Future in Action strategy from all of our regions.”
Reducing the use of fossil fuels at its cement plants is key to CEMEX’s efforts to decarbonize operations as part of its Future in Action strategy and global ambition of delivering net-zero CO2 concrete by 2050.
“With the completion of this considerable development, we have set new records in alternative fuel substitution, the highest of any of our plants and eventually expect to phase out completely the usage of fossil fuels at the plant. We expect the Rugby plant to be a model for other CEMEX cement plants around the world,” said Sergio Menéndez, President of CEMEX Europe, Middle East, Africa & Asia.
“CEMEX's investment into a new Climafuel facility at its Rugby Cement Plant is a significant milestone in the company's ambitions to decarbonize. With the Government’s commitment to reach net-zero by 2050, it's important we support the adoption of alternative fuels and the development of new, climate-friendly technologies to help companies such as CEMEX move to a cleaner, greener future,” said the UK Minister for Investment, Lord Grimstone.
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release, nor for any third-party quotes cited herein.
Media Relations
Jorge Pérez
+52 (81) 8259-6666
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Analyst and Investor Relations
Alfredo Garza / Fabián Orta
+1 (212) 317-6011
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DALLAS--(BUSINESS WIRE)--Commercial Steel Products LLC (CSP) has acquired Ace Steel Supply Inc. (Ace) in a stock purchase agreement. This acquisition is an alignment of mutual strategic interests between the two privately held steel companies.
Thomas Sfikas, President of CSP, commented that the intent of the acquisition is to improve each company’s capabilities in better serving customers. “We see the purchase of Ace Steel Supply as an integral step in our continued growth and success providing value-added services and products to our customers. This will enable us to continue to expand our product diversification while at the same time capitalizing on our synergies. It’s an exciting move for both of us, and I look forward to working closely with the entire Ace team.”
Satish Gupta, founder, and CEO of Gupta Capital Group (GCG) and Chairman of the SB Group of Companies, stated, “I’m pleased to welcome Ace Steel Supply to the SB family. This combination adds significant value to both companies, and we are excited to give the strong team at Ace the resources it needs to enhance its already impressive performance.”
Bruce Margolin, Vice President, and Chief Operating Officer of Ace, said, “We’re delighted to become part of CSP. We will continue working independently while leveraging resources from CSP and Gupta Capital Group. This move will strengthen our internal capabilities and provide immediate benefits to our customers.”
Gupta Capital Group is a single-family office engaged in sustainably growing a diversified portfolio of operating businesses focused on the steel and metals industries. In addition to its portfolio companies, GCG manages a large, diversified portfolio of investments across a range of sectors including private equity, real estate, and private debt.
Located in Dallas, TX, Commercial Steel Products LLC is a leading value-added supplier of high-quality steel products, mostly focused on tubular products for the oil and gas industry. With over 100 years of experience, CSP has established customer and supplier relationships throughout North America and around the world. CSP is committed to providing our valued customers with innovative and creative sourcing solutions and services through strategic partnerships worldwide.
Houston-based Ace Steel Supply has over 50 years of combined experience in the steel industry. Ace specializes in sheet and plate products in Stainless, Aluminum, Galvanized, Galvanneal, Galvalume, Cold Rolled, and Hot Rolled Carbon Steel.
Gary McNeil – This email address is being protected from spambots. You need JavaScript enabled to view it.
Energy transition expert Icelandic New Energy to oversee and conduct study on pioneering project
LONDON & REYKJAVIK, Iceland--(BUSINESS WIRE)--#datacenter--Verne Global, provider of sustainable data center solutions for high intensity computing, and Landsvirkjun, the national power company of Iceland, today announced a collaboration which will see Verne Global trial and deploy hydrogen fuel cells to produce reliable and sustainable back-up power for its Icelandic data center campus. The two companies will work together to enable the transition to green hydrogen power produced with Iceland’s renewable energy, taking Verne Global even further with its industry-leading sustainability position. This data center project is the first of its kind in Iceland.
Verne Global’s 40 acre data center campus was designed from the ground up to provide highly specialist data center services for organisations running high intensity compute workloads, including AI, machine learning, high performance computing (HPC) and supercomputing. Iceland’s stable, 100 percent renewable-powered energy grid ensures Verne Global can provide these customers with long-term price visibility, while the local climate supports free cooling 365 days a year. Through this trial project, in the unlikely event of disruption to its primary power supply, Verne Global will use renewable hydrogen-powered generation to maintain its data center operations.
“We’re really looking forward to working with Verne Global on this project and helping them further capitalise on Iceland’s inimitable ability to provide green energy,” said Hörður Arnarson, CEO, Landsvirkjun. “We’re proud to undertake this pioneering project with an industry leader, which will in turn provide us with key insights into leveraging hydrogen power across Iceland and beyond.”
Icelandic New Energy, which has more than two decades’ worth of experience in hydrogen energy transition in Iceland, will oversee the project and conduct a study, which will serve to offer guidance to the wider industry on the viability of hydrogen fuel cell back-up for data centers.
“We’re constantly searching for ways to improve our already market-leading sustainability credentials, so we jumped at the opportunity to work with Landsvirkjun and Icelandic New Energy to turn even our back-up data center power ‘green’,” said Dominic Ward, CEO at Verne Global.
About Verne Global
Verne Global delivers data center solutions for high intensity computing, engineered for optimal high performance compute and built upon 100% renewable energy. Our clean grid and stable climate cuts costs and energy usage, and our expert team provides on-site, around-the-clock support to maximise performance and flexibility for customer workloads.
Founded in 2012, our Icelandic data center campus powers some of the world’s most innovative and demanding industries, including financial services, earth sciences, life sciences, engineering, scientific research and AI.
Michelle Edge/Claire Ayles
Eleven Hundred Agency
T: +44(0)20 7688 5202
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IRVING, Texas--(BUSINESS WIRE)--Vizient, Inc. today announced it has signed a pledge to reduce greenhouse gas emissions and increase its climate resilience as part of an initiative led by the Department of Health and Human Services (HHS) and the White House. The initiative challenges hospitals, suppliers, pharmaceutical companies and other industry stakeholders to build climate considerations into the future of healthcare.
It is estimated that the healthcare sector contributes 8.5% of total U.S. emissions of greenhouse gases.
The voluntary pledge asks signees to, at a minimum, commit to: (1) reducing their organization’s emissions by 50% by 2030 and to net zero by 2050 as well as publicly reporting on their progress; (2) completing an inventory of Scope 3 (supply chain) emissions; and (3) developing climate resilience plans for their facilities and communities. It also asks them to designate an executive lead for this work.
“Vizient is excited to make this pledge and step up with other leaders from across the healthcare industry to reduce emissions and help HHS and the Biden Administration reach their climate goals,” said Patty Olsen, chief people officer at Vizient. “Reducing emissions is a key step in fighting the catastrophic impact of climate change and sustaining our planet.”
While Vizient is pledging to reduce the amount of greenhouse gases the organization itself emits, it has long been a leader in supporting its member hospitals to improve their utilization of environmentally preferred products in their facilities. Vizient recently expanded its Environmentally Preferred Purchasing dashboard that helps member healthcare organizations identify sustainable products within its contract portfolio. The dashboard allows users to evaluate the amount of their organization's purchasing volume that contains products without harmful chemicals or other environmentally undesirable characteristics.
Read more about how Vizient is leveraging its capabilities to drive systems innovation, advance diversity, equity and inclusion, promote planetary health and empower our workforce in our 2022 Corporate Responsibility Report.
About Vizient, Inc.
Vizient, Inc., the nation’s largest healthcare performance improvement company, serves more than 50% of the nation’s acute care providers, which includes 97% of the nation’s academic medical centers, and more than 20% of ambulatory care providers. Vizient provides expertise, analytics and advisory services, as well as a contract portfolio that represents more than $130 billion in annual purchasing volume. Vizient’s solutions and services improve the delivery of high-value care by aligning cost, quality and market performance. Headquartered in Irving, Texas, Vizient has offices throughout the United States. Learn more at www.vizientinc.com.
Donna Ledbetter
(972) 830-6321
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TORONTO--(BUSINESS WIRE)--$LGO #cleanenergy--Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) announces that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to make a normal course issuer bid (“NCIB”) to purchase for cancellation its common shares (the “Common Shares”).
Largo believes that the market price of its Common Shares does not always adequately reflect its underlying fundamental value and future business prospects. Largo may purchase Common Shares from time to time under the NCIB if it believes that the market price of the Common Shares is attractive, and that the purchase would be an appropriate use of available corporate funds and in Largo’s best interest.
Largo may purchase up to 3,641,098 Common Shares under the NCIB, representing approximately 10% of the public float of 36,410,986 Common Shares, as at May 20, 2022. Purchases of Common Shares may be effected through the facilities of the TSX, NASDAQ, and alternative trading systems during the period starting on June 1, 2022 and ending no later than May 31, 2023. Other than purchases made under block purchase exemptions, daily purchases on the TSX under the NCIB will be limited to 24,510 Common Shares, being approximately 25% of the average daily trading volume of 98,042 Common Shares on the TSX for the six calendar months prior to the TSX’s acceptance of notice of the NCIB.
The price that Largo will pay for any Common Shares will be the market price at the time of purchase. The actual number of Common Shares that may be purchased pursuant under the NCIB and timing of any such purchases will be determined by Largo.
As at May 20, 2022 there were 64,825,219 Common Shares outstanding.
About Largo
Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURETM and VPURE+TM products, which are sourced from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) vanadium production from its operations in Brazil and 2.) energy storage business in the U.S. to support a low carbon future through its clean energy division.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information, please visit www.largoinc.com.
Forward-looking Information:
This press release contains forward-looking information under applicable securities legislation (“forward-looking information”). Forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking information contained in this press release includes, but is not limited to, statements with respect to the Company’s intentions with respect to the NCIB, purchases of Common Shares under the NCIB, and the vertical integration of the Company.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on www.sedar.com and www.sec.gov from time to time. Forward-looking information are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-looking information. Largo does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo’s annual and interim MD&As which also apply.
Trademarks are owned by Largo Inc.
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
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NORTH BETHESDA, Md.--(BUSINESS WIRE)--$ESAB #ESABCorporation--ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a world leader in fabrication and specialty gas control technology, today announced that Shyam P. Kambeyanda, President and Chief Executive Officer and Kevin Johnson, Chief Financial Officer, will present at the UBS Global Industrials and Transportation Conference 2022 on Tuesday, June 7, 2022 at 8:50 a.m. (Eastern Daylight Time) at the Lotte New York Palace Hotel, New York, NY. A live presentation of this event will be available via ESAB’s website at www.esabcorporation.com under the “Investors” section. Replays will also be available on the Company’s website following the event.
About ESAB Corporation
ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and specialty gas control technology, providing our partners with advanced equipment, consumables, specialty gas control, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world. To learn more, visit esabcorporation.com.
Investor Relations Contact
Mark Barbalato
Vice President, Investor Relations
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Phone: 1-301-323-9098
DUBLIN--(BUSINESS WIRE)--The "Global Wood Pellets Market 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The wood pellets market is poised to grow by $4.13 bn during 2022-2026 progressing at a CAGR of 7.55%.
This study identifies the decline in coal power as one of the prime reasons driving the wood pellets market growth during the next few years. Also, increasing use of biomass district heating and adoption of wood pellets in co-firing will lead to sizable demand in the market.
The market is driven by stringent regulations on CO2 emissions, increased use of bioenergy, and regulations for use of bioenergy and modern heating systems.
The report on the wood pellets market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The wood pellets market analysis includes the end-user segment and geographic landscape.
The publisher's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading wood pellets market vendors that include Binderholz GmbH, Bio Eneco, BioPower Sustainable Energy Corp., ECARE, Energy Pellets of America LLC, Enviva Inc., Highland Pellets LLC, Land Energy Girvan Ltd., Lignetics Inc., Pfeifer Holding GmbH, PREMIUM PELLETS s.r.o, PRODESA, proPellets Austria, Schellinger KG, SNOW ENTITIES Inc., VIRIDIS ENERGY INC., AS Graanul Invest, and Drax Group Plc.
Also, the wood pellets market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
Key Topics Covered:
1 Executive Summary
1.1 Market overview
2. Market Landscape
2.1 Market ecosystem
3. Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021-2026
4. Five Forces Analysis
4.1 Five forces summary
4.2 Bargaining power of buyers
4.3 Bargaining power of suppliers
4.4 Threat of new entrants
4.5 Threat of substitutes
4.6 Threat of rivalry
4.7 Market condition
5. Market Segmentation by End-user
5.1 Market segments
5.2 Comparison by End-user
5.3 Residential - Market size and forecast 2021-2026
5.4 Commercial - Market size and forecast 2021-2026
5.5 Market opportunity by End-user
6. Customer Landscape
6.1 Customer landscape overview
7. Geographic Landscape
7.1 Geographic segmentation
7.2 Geographic comparison
7.3 Europe - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 APAC - Market size and forecast 2021-2026
7.6 Middle East and Africa - Market size and forecast 2021-2026
7.7 South America - Market size and forecast 2021-2026
7.8 UK - Market size and forecast 2021-2026
7.9 Italy - Market size and forecast 2021-2026
7.10 US - Market size and forecast 2021-2026
7.11 Denmark - Market size and forecast 2021-2026
7.12 Germany - Market size and forecast 2021-2026
7.13 Market opportunity By Geographical Landscape
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.2 Market challenges
8.3 Impact of drivers and challenges
8.4 Market trends
9. Vendor Landscape
9.1 Overview
9.2 Vendor landscape
9.3 Landscape disruption
9.4 Industry risks
10. Vendor Analysis
10.1 Vendors covered
10.2 Market positioning of vendors
For more information about this report visit https://www.researchandmarkets.com/r/qcj4qj
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "LNG Bunkering Global Market, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The latest study collated and published analyzes the historical and present-day scenario of the LNG bunkering market in order to accurately gauge its future growth.
The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the LNG bunkering market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the LNG bunkering market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the LNG bunkering market, which aids companies operating in the market in making strategic development decisions. This study also elaborates on significant changes that are highly anticipated to configure growth of the LNG bunkering market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the LNG bunkering market and estimates statistics related to growth of the market in terms of volume (kilo tons) and value (US$ Bn).
This study covers a detailed segmentation of the LNG bunkering market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the LNG bunkering market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Companies Mentioned
Key Questions Answered in this report on LNG Bunkering Market
Key Topics Covered:
1. Preface
2. Executive Summary
3. LNG Bunkering Market - Industry Analysis
3.1. Introduction
3.2. Value Chain Analysis: LNG Bunkering Market
3.3. Market Drivers
3.3.1. Compliance with IMO (International Maritime Organization) Regulations to use Clean Fuels in Emission Control Areas (ECAs)
3.3.1.1. Global Fuel Sulfur Limits Within and Outside ECAs
3.3.2. LNG is an Economical Fuel Option Compared to Distillate Fuels in Europe and North America
3.3.3. Increasing LNG Bunkering Requirements from Coastal & Inland Ferries, and Offshore Support Vessels
3.3.3.1. Global Offshore Oil and Gas Production Estimates and Forecast, by Region, 2020 - 2020
3.4. Market Restraints
3.4.1. Lack of LNG Fueling Infrastructure in Major Bunkering Destinations and High Investment Cost for New Built LNG Fueled Ships Slowing Adoption Rates
3.4.2. Alternative Approaches Adopted by Shipping to Meet IMO Regulations Might Restrain the LNG Bunker Fuel Market
3.4.2.1. Strategies That Can be Adopted by Shipping Agencies in ECAs
3.5. Market Opportunities
3.5.1. Expansion of ECAs Expected to Enhance Demand for LNG Bunkering
3.5.1.1. Existing and Future Emission Control Areas
3.6. Porter's Five Forces Analysis: LNG Bunkering Market
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Degree of Competition
3.6.5. Threat of Substitutes
3.7. LNG Bunkering Infrastructure
3.7.1. Current Development Status of LNG Bunkering Infrastructure Globally, by Ports, 2020
4. LNG Bunkering Market: End-use Analysis
4.1. Global LNG Bunkering Market: End-use Overview
4.1.1. Global LNG Bunkering Market, Volume Share, by End-use, 2020 and 2031
4.2. Tanker Fleet
4.2.1. Global LNG Bunker Consumption, by Tanker Fleet, 2020 - 2031 (Kilo Tons)
4.2.2. Global LNG Bunker Consumption, by Tanker Fleet, 2020 - 2031 (US$ Bn)
4.3. Container Fleet
4.3.1. Global LNG Bunker Consumption, by Container Fleet, 2020 - 2031 (Kilo Tons)
4.3.2. Global LNG Bunker Consumption, by Container Fleet, 2020 - 2031 (US$ Bn)
4.4. Bulk & General Cargo Fleet
4.4.1. Global LNG Bunker Consumption, by Bulk & General Cargo Fleet, 2020 - 2031 (Kilo Tons)
4.4.2. Global LNG Bunker Consumption, by Bulk & General Cargo Fleet, 2020 - 2031 (US$ Bn)
4.5. Ferries & OSVs
4.5.1. Global LNG Bunker Consumption, by Ferries & OSVs, 2020 - 2031 (Kilo Tons)
4.5.2. Global LNG Bunker Consumption, by Ferries & OSVs, 2020 - 2031 (US$ Bn)
5. LNG Bunkering Market: Regional Analysis
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/klht0b
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Oil Condition Monitoring Services Market - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
This study offers valuable information on the North America oil conditioning monitoring services in order to illustrate how the market is expected to expand during the forecast period, i.e. 2021-2031.
Key indicators of market growth, which include value chain analysis and compound annual growth rate (CAGR), are elucidated in this study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the North America oil conditioning monitoring services market.
An extensive analysis of business strategies adopted by leading market players is also featured in this study on the North America oil conditioning monitoring services market. This can help readers understand key factors responsible for expansion of the North America oil conditioning monitoring services market.
In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the North America oil conditioning monitoring services market. This data would guide market players in making apt decisions in the near future.
Key Topics Covered:
1. Preface
2. Assumptions and Research Methodology
3. Executive Summary
3.1. North America Oil Condition Monitoring Services Market Analysis and Forecast
3.2. Market Dynamics Snapshot
3.3. Competition Blueprint
4. Market Overview
4.1. Definition's
4.2. Technology Roadmap Analysis
4.3. Forecast Factors
4.4. Market Dynamics
4.4.1. Supply Side Drivers
4.4.2. Demand Side Drivers
4.4.3. Restraints and Opportunities
4.5. Ecosystem
4.6. COVID-19 Impact Analysis
4.7. Market Opportunity Assessment
5. North America Oil Condition Monitoring Services, by Service Type
5.1. Oil Conditioning Monitoring Services Market Size (US$ Mn) Analysis & Forecast, by Service Type, 2017-2031
5.1.1. Lubricant and Oil Testing
5.1.2. Grease Testing
5.1.3. Cylinder Liner Monitoring
5.1.4. Ferrography Testing
5.1.5. Tribology Testing
5.1.6. Coolant Testing
5.1.7. Vibration Data Analysis
5.1.8. Temperature Data Analysis
5.1.9. Others
5.2. North America Oil Conditioning Monitoring Services Market Attractiveness Analysis, by Service Type
6. North America Oil Conditioning Monitoring Services Market Analysis, by Sampling Type
6.1. North America Oil Conditioning Monitoring Services Market Size (US$ Mn) Analysis & Forecast, by Sampling Type, 2017-2031
6.1.1. On-Site
6.1.2. Off-Site
6.2. North America Oil Conditioning Monitoring Services Market Attractiveness Analysis, by Sampling Type
7. North America Oil Conditioning Monitoring Services Market Analysis, by Fluid Type
7.1. North America Oil Conditioning Monitoring Services Market Size (US$ Mn) Analysis & Forecast, by Fluid Type, 2017-2031
7.1.1. Lubricant Oil
7.1.2. Hydraulic Oil
7.2. North America Oil Conditioning Monitoring Services Market Attractiveness Analysis, by Fluid Type
8. North America Oil Conditioning Monitoring Services Market Analysis, by Applications
8.1. North America Oil Conditioning Monitoring Services Market Size (US$ Mn) Analysis & Forecast, by Applications, 2017-2031
8.1.1. Engines
8.1.2. Turbines
8.1.3. Hydraulic Systems
8.1.4. Compressors
8.1.5. Others
8.2. North America Oil Conditioning Monitoring Services Market Attractiveness Analysis, by Applications
9. North America Oil Conditioning Monitoring Services Market Analysis, by End-use Industry
9.1. North America Oil Conditioning Monitoring Services Market Size (US$ Mn) Analysis & Forecast, by End-use Industry, 2017-2031
9.1.1. Automotive & Transportation
9.1.2. Marine
9.1.3. Energy & Utilities
9.1.4. Industrial
9.1.5. Mining & Construction
9.1.6. Oil & Gas
9.1.7. Others
9.2. North America Oil Conditioning Monitoring Services Market Attractiveness Analysis, by End-use Industry
10. North America Oil Conditioning Monitoring Services Market Analysis and Forecast, by Country and Sub Region
10.1. North America Oil Conditioning Monitoring Services Market Size (US$ Mn) Analysis & Forecast, by Country and Sub-region, 2017-2031
10.1.1. The U.S
10.1.2. Canada
10.1.3. Rest of North America
10.2. North America Oil Conditioning Monitoring Services Market Attractiveness Analysis, by Country and Sub-region
11. U.S. Oil Conditioning Monitoring Services Market Analysis and Forecast
12. Canada Oil Conditioning Monitoring Services Market Analysis and Forecast
13. Competition Assessment
13.1. North America Oil Conditioning Monitoring Services Market Competition Matrix - a Dashboard View
13.1.1. North America Oil Conditioning Monitoring Services Market Company Share Analysis, by Value (2020)
13.1.2. Technological Differentiator
14. Company Profiles (Manufacturers/Suppliers)
For more information about this report visit https://www.researchandmarkets.com/r/hwtnyb
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Industrial Gases Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global industrial gases market reached a value of US$ 93.7 billion in 2021. Looking forward, the market is projected to reach US$ 129.1 billion by 2027, exhibiting a CAGR of 5.4% during 2022-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use industries. These insights are included in the report as a major market contributor.
Industrial gases refer to the gases produced in large quantities for usage in industrial processes. Depending on their application in different sectors, these gases are also known as fuel, medical, refrigerant, or specialty gases. Some of the industrial gases, such as oxygen and helium, provide a base for life support for artificially ventilated patients and modern anesthetic techniques. Hydrogen is used in the transportation industry and oxygen in gasification plants, hospitals and steel manufacturing plants. In addition, liquid helium is utilized in magnetic resonance imaging (MRI) equipment to cool down superconductive magnet coil scanners.
In recent years, technological innovations in the usage of various industrial gases have bolstered the growth of the market. For instance, liquid oxygen and hydrogen are being used in propellants to launch rockets that carry broadcast, communications and meteorological satellites into space.
Apart from this, the leading companies are investing in research and development activities (R&D) to develop new and improved methods to produce and distribute industrial gases across the globe. Moreover, several international non-profit organizations, such as the European Industrial Gases Association, provide manufacturers with expert advice on the production, transport, storage and utilization of industrial gases. They also promote consistency of safety, health, environmental and technical standards throughout the industrial gas industry.
However, the demand and production of industrial gases are being affected by the spread of the coronavirus disease (COVID-19), which has led to a slow-down in the commercial, transportation and industrial activities.
Key Questions Answered in This Report
1. What was the global industrial gases market size in 2021?
2. What will be the global industrial gases market outlook during the forecast period (2022-2027)?
3. What are the global industrial gases market drivers?
4. What are the major trends in the global industrial gases market?
5. What is the impact of COVID-19 on the global industrial gases market?
6. What is the global industrial gases market breakup by type?
7. What is the global industrial gases market breakup by application?
8. What is the global industrial gases market breakup by supply mode?
9. What are the major regions in the global industrial gases market?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Properties
4.3 Key Industry Trends
5 Global Industrial Gases Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Type
5.5 Market Breakup by Application
5.6 Market Breakup by Supply Mode
5.7 Market Breakup by Region
5.8 Market Forecast
5.9 SWOT Analysis
5.10 Value Chain Analysis
5.11 Porters Five Forces Analysis
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Supply Mode
9 Market Breakup by Region
10 Imports and Exports
10.1 Imports by Major Countries
10.2 Exports by Major Countries
11 Industrial Gases Manufacturing Process
11.1 Product Overview
11.2 Raw Material Requirements
11.3 Manufacturing Process
11.4 Key Success and Risk Factors
12 Competitive Landscape
12.1 Market Structure
12.2 Key Players
12.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/pxpdzd
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Not for Distribution to U.S. Newswire Services or for Dissemination in the United States
TORONTO--(BUSINESS WIRE)--Phoenix Canada Oil Company Limited (TSX-V: PCO) ("Phoenix") and ZYUS Life Sciences Inc. (“ZYUS” or the “Company”), a private Canadian life sciences company, together announce that they have entered into a non-binding Letter of Intent dated May 27, 2022 (the "LOI"). The LOI outlines the general terms and conditions of a proposed business combination by way of plan of arrangement (the “Arrangement”), which would result in ZYUS becoming a wholly-owned subsidiary of Phoenix and constitute a reverse takeover of Phoenix by ZYUS as defined in the policies of the TSX Venture Exchange (the “Exchange”).
Completion of the Arrangement is subject to customary terms and conditions as set forth in the LOI including, but not limited to: the satisfactory completion of due diligence; the successful negotiation and execution of a definitive agreement for the Arrangement (the "Definitive Agreement"); shareholder and Exchange approvals; the performance of any closing conditions; and other conditions typical for similar transactions.
Charlotte Moore Hepburn, the CEO of Phoenix, stated that, "We understand the critical clinical need for a regulated, opioid-sparing medication designed to address adult pain. In ZYUS, we are excited to have found a high potential strategic partner with an impressive scientific and patent portfolio and a program of research with transformative potential in the biomedical space. The vision and mission of ZYUS aligns with our corporate values, and we look forward to working collaboratively with ZYUS in pursuit of a favourable outcome.”
"We are excited about the significant growth opportunities this transaction will enable for both companies and their shareholders,” said Brent Zettl, President and CEO of ZYUS. “Since launching ZYUS four years ago, our focus has been to use an evidence-based approach to advance the scientific understanding of cannabinoids through clinical research for medicinal purposes. This transaction provides us with the financial resources to further advance our operations, sales and clinical research activities as we pursue innovative therapies to better the lives of patients around the world.”
General Information on Phoenix and ZYUS
Phoenix is incorporated under the laws of the Province of Ontario and has a head office in Toronto, Ontario. The company is a reporting issuer in the provinces of Alberta, British Columbia and Ontario.
ZYUS was incorporated under the laws of Saskatchewan in 2018 and is a life sciences company focused on the development and commercialization of medical cannabinoid products. As a licensed producer of medical cannabis under the Cannabis Act (Canada), ZYUS holds processing, sales, research and analytical licenses from Health Canada for its facilities located in Saskatoon, Saskatchewan and was awarded EU-Good Manufacturing Practice certification from Portugal’s Infarmed – National Authority of Medicines and Health Products, I.P. in March 2022.
ZYUS’ founder, Brent Zettl, is the former President and CEO of CanniMed Therapeutics and its wholly owned subsidiaries (collectively “CanniMed”). After years of witnessing first-hand the transformational impact medical cannabis had on the lives of patients, Mr. Zettl founded ZYUS with the mission of elevating cannabinoids as a standard of care for human health through clinical research. Background information on the principals, directors and officers of ZYUS appears at the end of this release.
Since its inception in 2018, ZYUS has conducted more than 55 non-clinical and pre-clinical animal studies on safety, toxicity and efficacy of its proprietary product candidates, the data from which was used to file and support the Company’s patent portfolio and will be used to support the Company’s clinical trials. In addition to holding four patents in the United States for certain research-related software, the Company secured its first therapeutic patent in Canada, “FORMULATION FOR PAIN MANAGEMENT”, patent no. 3,102,473 in July 2021. This patent covers novel fixed-dose cannabinoid formulations for pain management and includes ZYUS’ lead product candidate “Trichomylin®”. The Company’s patent application for this invention was allowed in Israel in 2022 and corresponding applications have been filed in seven additional jurisdictions, including the United States and Europe. ZYUS has also completed a number of additional patent applications respecting its other drug product candidates and software inventions, with two of those patent families currently in the Patent Cooperation Treaty (PCT) filing phase.
ZYUS’ lead research program relates to its drug product candidate “Trichomylin®” for use in the treatment of chronic and neuropathic pain while significantly reducing the use of opioids. In 2021, the Company received approval from Australia’s Bellberry Limited Human Research Ethics Committee and conducted a Phase 1a/b FIH (first-In-human) clinical trial “Trichomylin®”, the data from which will be used to pursue U.S. Food and Drug Administration (the “FDA”) approval. While ZYUS has not yet submitted an investigational new drug application for its clinical programs, ZYUS plans to pursue through an investigational new drug application, and the FDA has provided the Company with feedback on, the 505(b)(1) regulatory pathway, which is a regulatory pathway available for novel formulations that have not been previously studied or approved.
In addition to its research operations and in its capacity as a licensed producer under the Cannabis Act (Canada), ZYUS launched direct sales and distribution of its exempt market medical cannabis products (which does not require regulatory approval as a drug product) to registered patients across Canada in 2020. The Company has also secured a number of non-exclusive agreements with international pharmaceutical distributors and is in the late stages of securing additional clearances required to supply medical cannabinoids across several international markets that have legalized medical cannabis including, but not limited to, Australia and Portugal.
Select ZYUS Financial Highlights (in thousands of Canadian Dollars) for the year ended December 31, 2021 (unaudited):
As at December 31, |
|
2021 (1) |
||
|
|
|||
Current assets |
$ |
7,594 |
|
|
Total Assets |
$ |
70,111 |
|
|
Current liabilities |
$ |
10,085 |
|
|
Total liabilities |
$ |
45,544 |
|
|
Revenue |
$ |
207 |
|
|
Net loss |
$ |
(24,044 |
) |
|
(1) Select financial information noted above is unaudited and subject to change. |
||||
ZYUS was pre-commercial and considered to be in the development state until December 2020, and as such, it has not generated any significant sales or incurred any cost of sales since incorporation.
General Information Regarding the LOI
Pursuant to the Arrangement, Phoenix will acquire all of the issued and outstanding common shares of ZYUS. Following completion of the Arrangement, Phoenix and ZYUS, as its new wholly owned subsidiary (referred to on a consolidated basis as the “Resulting Issuer”) will continue to carry on the business of ZYUS under ZYUS’ operating management and Phoenix will change its name to “ZYUS Life Sciences Corporation” or a similar name, and the common shares of the Resulting Issuer (“Resulting Issuer Common Shares”) will be listed for trading on the TSXV stock exchange.
As part of the Arrangement (i) each issued and outstanding common share of ZYUS (“ZYUS Shares”) held by ZYUS’ shareholders (other than Phoenix) will be acquired by Phoenix, and ZYUS shareholders will receive Resulting Issuer Common Shares using an exchange ratio (the "Exchange Ratio") to be determined based on a valuation agreed to by the parties in the LOI, subject to adjustment to reflect the price of the Concurrent Financing (as defined below) and the final number of Units (as defined below) issued; (ii) the outstanding warrants to purchase ZYUS Shares ("ZYUS Warrants") will be exchanged for warrants to acquire Resulting Issuer Common Shares adjusted pursuant to the Exchange Ratio; and (iii) each outstanding option to purchase ZYUS Shares ("ZYUS Options") shall be exchanged for a replacement option of the Resulting Issuer (each a "Replacement Option") adjusted pursuant to the Exchange Ratio.
Upon completion of the Arrangement, it is expected that the shareholders of Phoenix will hold approximately 6% and the shareholders of ZYUS will hold approximately 94% of the outstanding Resulting Issuer Common Shares, after taking into account the close of the Concurrent Financing (described below).
Phoenix currently has 5,029,194 common shares issued and outstanding while ZYUS has 54,700,754 common shares issued and outstanding. ZYUS also has certain debentures and notes outstanding which will automatically convert into common shares of ZYUS immediately prior to the Arrangement, based on an 85% discount to the price of the Concurrent Financing.
The Arrangement, as described above, constitutes an arm's length transaction as defined in the policies of the Exchange and under applicable securities regulations. None of the directors, officers or insiders of Phoenix has any interest in ZYUS or is an insider of ZYUS and similarly none of the directors, officers or insiders of ZYUS has any interest in Phoenix or is an insider of Phoenix.
Loan To Zyus
On or prior to June 15, 2022, and whether or not the Arrangement is completed, Phoenix will loan to Zyus the sum of $1,700,000 through the acquisition of 17 Units (the “Units”) of ZYUS, with each unit consisting of one secured promissory note in the principal amount of C$100,000 (the “Promissory Notes”) and 40,000 common share purchase warrant (the “Warrants”), with both the Promissory Notes and Warrants having a maturity date of 30 months from the date of issue (the “Maturity Date”).
The Promissory Notes will earn interest at a rate of 12% per annum (compounded, accrued and payable quarterly in arrears on the outstanding balance). The Promissory Notes will be subject to mandatory conversion requirements whereby the Promissory Notes plus accrued and unpaid interest (the “Principal and Interest”) will be converted into common shares of ZYUS on certain triggering events (“Triggering Event”), which would include, but not be limited to, closing of the Arrangement. Immediately prior to the completion of the Arrangement, the Principal and Interest will be automatically converted into common shares of ZYUS at a price equal to 85% of the deemed price of ZYUS common shares in the Triggering Event. The Promissory Notes will be a secured obligation of ZYUS. If the Arrangement is terminated, Phoenix will be entitled to demand immediate repayment of its Principal and Interest If issued and subject to certain acceleration events, the Warrants would entitle Phoenix to acquire one common share of ZYUS at a price of C$2.50 per common share at any time until the Maturity Date, with the exercise of the Warrants being subject to review and approval by the TSXV. The treatment of these Zyus common shares and Warrants will be addressed in the Definitive Agreement.
The conversion of the loan into ZYUS' shares, the issuance of warrants including the exercise of the warrants will be subject to prior Exchange approval.
Subscription Receipt Financing
As part of the Arrangement, ZYUS intends to organize and complete a private placement (the "Concurrent Financing") of subscription receipts (the "Subscription Receipts") for gross proceeds of up to C$25 million. The Subscription Receipts are currently anticipated to be issued by ZYUS. Purchasers of the Subscription Receipts will ultimately, as a result of the Arrangement, receive Resulting Issuer Common Shares, following the satisfaction of certain specified escrow release conditions attached to the Subscription Receipts. The proceeds of the private placement, assuming the satisfaction of the escrow release conditions, will be used by the Resulting Issuer for research and development and general corporate expenses.
The Concurrent Financing will seek to raise proceeds of a minimum of $12 million and a maximum of $25 million by way of a private placement of subscription receipts expected to be offered at price of $2.39 per subscription receipt. It is proposed that each subscription receipt would represent a right to receive one common share of ZYUS, to be converted immediately into shares of the Resulting Issuer after giving effect to the Arrangement.
The Resulting Issuer will maintain offices in Saskatoon, Saskatchewan.
Share Capital of the Resulting Issuer
Assuming completion of the Concurrent Financing as described above, 90.2 million common shares of the Resulting Issuer (which will consist of 73.7 million common shares issued to former holders of ZYUS Shares, 5 million common shares held by Phoenix shareholders, and 11.5 million common shares issued pursuant to the Concurrent Financing assuming gross proceeds of C$25 million) would be outstanding after giving effect to the Arrangement based on an exchange ratio of 1.3373 common shares of Phoenix issued for each outstanding common share of ZYUS.
Sponsorship
Sponsorship of the Arrangement may be required by the TSXV unless an exemption or waiver from this requirement can be obtained in accordance with the policies of the TSXV. Phoenix intends to apply for a waiver of the sponsorship requirement. There is no assurance that a waiver from this requirement can or will be obtained.
Halt of Trading of Common Shares of Phoenix
The common shares of Phoenix are currently halted from trading and the trading of common shares of Phoenix is expected to remain halted pending completion of the Arrangement.
Additional Information
The completion of the Arrangement and related transactions are subject to the approval of (i) the Exchange, (ii) 66 2/3% of the votes cast by Phoenix and ZYUS shareholders, respectively, and (iii) the Court of Queen’s Bench for Saskatchewan. The Arrangement and related transactions are subject to the satisfaction or, where permitted, waiver of certain additional conditions precedent, including, but not limited to: (1) the completion of the Concurrent Financing and (2) other conditions customary for transactions of a similar nature. There is no guarantee that these conditions will be met at all or before the Termination Date. A joint management information circular is expected to be mailed to shareholders of Phoenix and ZYUS in connection with their respective shareholder meetings to approve the Arrangement and transactions contemplated in connection with the Arrangement. Additional information regarding the details of the Arrangement and such transactions will be included in such joint management information circular.
If and when a definitive agreement between Phoenix and ZYUS is executed, Phoenix will issue a subsequent press release in accordance with the policies of the TSXV containing the details of the definitive agreement and additional terms of the Arrangement including information relating to sponsorship, if required, summary financial information in respect of ZYUS, and additional information with respect to the history of ZYUS and the proposed directors, officers, and insiders of the Resulting Issuer upon completion of the Arrangement. Charlotte Moore Hepburn will continue as a member of the Board of Directors of the Resulting Issuer.
Completion of the Arrangement is subject to a number of conditions including, but not limited to, the satisfaction of Phoenix and ZYUS of the due diligence investigations to be undertaken by each party, the execution of a definitive agreement in respect of the Arrangement, closing conditions customary to transactions of the nature of the Arrangement, approval of the Court of Queen’s Bench of Saskatchewan, approvals of all regulatory bodies having jurisdiction in connection with the Arrangement, TSXV acceptance and, if required by the TSXV policies, majority of the minority shareholder approval. Where applicable, the Arrangement cannot close until the required shareholder approvals are obtained and there can be no assurance that the Arrangement will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with Arrangement, any information released or received with respect to the Arrangement may not be accurate or complete and should not be relied upon. Trading in the securities of Phoenix should be considered highly speculative.
The common shares of Phoenix have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Notice on Forward-Looking Statements:
This release includes forward-looking information or forward-looking statements within the meaning of Canadian securities laws, the 1933 Act, the U.S. Securities Exchange Act of 1934 and the U.S. Private Securities Litigation Reform Act of 1995 regarding Phoenix, ZYUS and their respective businesses, which may include, but are not limited to, statements with respect to the completion of the Arrangement, the terms on which the Arrangement is intended to be completed, the ability to obtain regulatory and shareholder approvals, expectations with respect to ZYUS business plans, product lines, intellectual property strategy (including successful examination of patent applications) research activities (including without limitation, the safety, efficacy and clinical progress of Trichomylin®, the expected timing of the availability of clinical trial results and the ability to use data generated by the Australian study to pursue FDA approval) and the prospects for regulatory approval, commercializing or selling any product or drug product candidates both domestically and abroad, the timeline for Phoenix Shares to resume trading, and statements regarding the Unit Financing and Concurrent Private Placement. Research and clinical trial programs are of an experimental nature and no particular results can be guaranteed due to a number of factors and risks.
Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties, many of which are beyond the control of Phoenix and ZYUS, and cannot be predicted or quantified, including risks related to: potential impacts due to the COVID-19 pandemic such as delays in regulatory review, manufacturing and supply chain interruptions, disruption of the global economy, the reliability of the results of studies relating to human safety and possible adverse effects resulting from the administration of drug product candidates; ability to secure regulatory approval for any investigational new drug applications submitted to the U.S. Food and Drug Administration, and the success of future product advancements, including the success of future clinical trials.
Although the management of each entity believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, including completion of the Arrangement, the Unit Financing and the Concurrent Private Placement (and the proposed terms upon which the Arrangement, the Unit Financing and the Concurrent Private Placement are proposed to be completed) and the ability to use data generated by the Australian study to pursue FDA approval), the ability to secure regulatory approval for any patents and regulatory approval of drug product candidates, and the success of future product advancements, including the success of future clinical trials and patent applications, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the medical cannabis industry, pharmaceutical industry, research and clinical trial activities, market conditions, economic factors, management's ability to manage and to operate the business of the Resulting Issuer and the equity markets generally. Although Phoenix and ZYUS have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and neither Phoenix nor ZYUS undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way passed upon the merits of the Arrangement and associated transactions and neither of the foregoing entities has in any way approved or disapproved of the contents of this press release.
Neither the TSXV nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this press release.
ZYUS Board of Directors:
Brent Zettl: President, CEO and Member of the Board of Directors of ZYUS
Mr. Zettl, BScA Distinction (Agriculture), is a pioneer of the Canadian medical cannabis industry. He co-founded CanniMed’s predecessor company Prairie Plant Systems Inc. (“PPS”) in 1988. CanniMed was the exclusive supplier of medical cannabis to Health Canada from 2000 to 2014. In March 2018, CanniMed was acquired by Aurora Cannabis Inc. for approximately CAD$1.2 billion, the largest acquisition of a cannabis company at the time.
Richard Hoyt: Chair of the Board of Directors of ZYUS; Chair of the ZYUS Governance and Nominating Committee; member of ZYUS Audit and Compensation Committees
Mr. Hoyt is currently Managing Partner of Ozark Transaction Advisors LLC, a consultancy that advises clients on pharmaceutical and active pharmaceutical ingredient transactions and licenses. Previously he was VP of Business Development and Licensing at Mallinckrodt PLC, a leading provider of controlled substances and specialty pharmaceuticals. During his 40-year career at Mallinckrodt PLC, Mr. Hoyt also served as VP of Asset and Portfolio Management, VP and General Manager of New Products and Technology and VP of Active Pharmaceutical Ingredient Commercial Operations.
John Knowles: Member of the Board of Directors of ZYUS; Chair of ZYUS Audit Committee; member of ZYUS Governance and Nominating Committee
Mr. Knowles was CFO of CanniMed from October 2016 until its acquisition in 2018. From 2007 to 2016, he was President and CEO of Fuse Cobalt Inc., a mineral exploration company.
ZYUS Media Inquiries
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1-833-515-5500
ZYUS Investor Relations
Bruce M. Mann
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Phoenix Canada Oil Company Limited
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