DALLAS--(BUSINESS WIRE)--Aspen Power Partners (“Aspen”) announced today it is acquiring 53 MW of community solar projects in Maryland and Pennsylvania from Trajectory Energy Partners. Trajectory Energy Partners will lead the development of the sites and Aspen will provide the financial support – approximately $96 million – and oversee the design, subscriber management and long-term ownership of the assets.
The portfolio consists of ten projects across the mid-Atlantic region. Four of the sites are in Maryland and will participate in the state’s pilot community solar program. The remaining six sites are in Pennsylvania and will be developed in advance of that state’s pending community solar legislation. Highlights from the portfolio include:
“We are very pleased to be working with a strong development partner like Trajectory. It is encouraging that we are expanding our geographical footprint, continuing to work with landowners to preserve their property for future generations, and advancing the energy transition,” said Dan Gulick, Partner at Aspen Power Partners.
Added Megan Strand, Partner and Co-Founder of Trajectory Energy Partners: “We are excited to partner with Aspen on such a significant portfolio of projects. Aspen brings a wealth of experience and resources to developing community solar projects. With Aspen’s financial backing, we can deliver projects that provide clean energy and local economic development to the surrounding communities.”
Aspen’s mission is to accelerate and democratize decarbonization. Through its new partnership with Trajectory, Aspen will expand access to clean distributed energy for consumers and businesses across all income levels. Along with the community solar projects in Maryland and Pennsylvania, Aspen is also developing community, multifamily, and commercial and industrial rooftop projects in California, Maine and New York.
Aspen was founded by David Berv, Scott Delaney, Dan Gulick, Jackson Lehr and Jorge Vargas with expertise across the development, construction, project finance and asset management disciplines. Collectively, the team has financed over $1 billion worth of renewable energy projects and has decades of experience across all stages of project development and ownership. Aspen was incubated at Energy Impact Partners, a leading global investor in the transition to a sustainable future.
For more information about Aspen, please visit www.aspenpower.com.
ABOUT TRAJECTORY ENERGY PARTNERS
Trajectory Energy Partners is an Illinois-based solar developer focusing on opportunities in Illinois, Maryland and Pennsylvania with a deep background in solar development, financing, and policy. Trajectory unites communities, organizations, electricity users and landowners to develop clean energy projects with strong local support. For more information, please visit trajectoryenergy.com.
ABOUT ASPEN POWER PARTNERS
Aspen Power Partners (Aspen) is a distributed generation platform with the dual mission of accelerating and democratizing decarbonization. The firm develops and finances community, multifamily, and other distributed solar and storage installations enabling consumers of all income levels to access clean renewable energy. The Aspen team is made up of seasoned professionals across the development, construction, project finance and asset management industry. Aspen is headquartered in Dallas, TX with locations throughout the U.S. For more information, please visit aspenpower.com.
MEDIA
Alex Autry
This email address is being protected from spambots. You need JavaScript enabled to view it.
Silverline Communications
Proton Green advances strategic growth plans through partnership with specialized energy infrastructure developer Lone Cypress Energy Services
HOUSTON--(BUSINESS WIRE)--Proton Green, LLC (“Proton Green” or the “Company”), the operator of one of the leading helium and hydrogen production and carbon sequestration hubs in North America, today announced a partnership with Lone Cypress Energy Services (“Lone Cypress”), an independent energy company focused on the engineering, construction, and operation of energy infrastructure. The partnership was formed as the two leading companies are collectively launching a first of its kind helium exploration and carbon capture and storage project in the Southwestern United States.
The project will focus on the gaseous helium produced from Proton Green’s St. Johns gas unit, which was acquired in late 2021. The St. Johns unit is located in Apache County Arizona, atop one of the largest gaseous helium reserves in North America, with an estimated 33 Bcf of helium in accessible reservoirs. Notably, helium produced from the region contains no hydrocarbons.
Lone Cypress will be responsible for the construction and operation of all the associated midstream gathering and processing infrastructure from Proton Green’s helium-rich reservoir in the St. Johns field. The Company believes that the helium produced at St. Johns is likely to be sold through direct offtake agreements with customers. Lone Cypress Energy Services will also perform all the engineering and technological solutions needed to support the capture and transport of carbon dioxide (CO2) produced during the helium production process as well as emissions from power plants and industrial facilities in the neighboring vicinity. These emissions will be geologically sequestered, contingent on the requisite permitting being granted, in an isolated formation within the St. Johns Gas Unit with upwards of 1 billion metric tons of storage capacity.
Steve Looper, Chief Executive Officer of Proton Green, LLC commented, “We are extremely proud to be working with a leader in the energy transition field. Lone Cypress is a leader in the development and operation of infrastructure across the entire energy value chain. Their support is a validation of the efficacy of our carbon sequestration projects and marks positive steps for our growth trajectory. We are excited about the progress we have made, and we look forward to continued successes and growth as we expand our capabilities in the fields of helium production and carbon sequestration and emerge as a leading energy transition growth platform.”
About Proton Green, LLC
Proton Green LLC, is poised to become one of the leading North American producers of helium and hydrogen, while also building out its position as one of the leading carbon sequestration operators in North America. With operating control over the St. Johns Field, a 152,000 acre property in Apache Country, Arizona, the Company controls a massive helium reservoir and carbon storage basin. Helium remains in short supply and is used to cool magnets in MRI systems, as the temperate of silicon during semiconductor manufacturing, for space and satellite system applications, as well as in many other critical technologies. Carbon capture and sequestration is fast becoming a climate imperative, and the Company has the ability to inject up to 22 million metric tons of CO2 per year at its primary basin, and over one billion tons of total storage capacity.
About Lone Cypress Energy Services
Lone Cypress Energy Services, LLC is an independent energy company focused on the development and operation of infrastructure across the entire energy value chain. Headquartered in Tulsa, OK, Lone Cypress offers a full suite of technology-enabled solutions including project management, EPC contracting, and asset operations. Lone Cypress specializes in the development of hydrogen generation and distribution projects, waste to energy plant solutions, and traditional oil and gas midstream facilities. The senior leadership team is anchored by technical professionals with over 100 years of combined execution experience. For more information, please visit www.lonecypressenergyservices.com.
Media & Investors:
Alpha IR Group
Joe Caminiti or Samuel Cohen
312-445-2870
This email address is being protected from spambots. You need JavaScript enabled to view it.
Compact multi-gas detector can be deployed on Spot or commercial UAVs to provide real-time monitoring of chemical hazards in industrial settings
ELKRIDGE, Md.--(BUSINESS WIRE)--Teledyne FLIR Defense, part of Teledyne Technologies Incorporated (NYSE:TDY), announced that it has teamed with MFE Inspection Solutions to integrate the FLIR MUVE™ C360 multi-gas detector on Boston Dynamics’ Spot® robot and commercial unmanned aerial systems (UAS). The integrated solutions will enable remote monitoring of chemical threats in industrial and public safety applications.
The MUVE C360 detects and classifies airborne gas or chemical hazards, allowing industrial safety officers and inspection personnel to perform their job more safely and efficiently with integrated remote sensing capabilities from both the air and ground. MUVE C360 is designed to operate on Boston Dynamics’ Spot mobile robot, which can autonomously inspect dangerous, inaccessible, or remote environments. The C360 also is compatible with common commercial UAS systems, which allows operators to fly the C360 into a scene to perform hazard assessments in real time.
“By deploying a chemical detector on drones and ground robots, industrial managers can identify dangerous situations from a safe distance, keeping operators out of harm’s way and speeding corrective measures,” said Dr. David Cullin, vice president and general manager of Unmanned and Integrated Solutions at Teledyne FLIR Defense. “We’re pleased to be teaming with MFE to provide innovative technology solutions like MUVE C360 that put distance between good people and bad things.”
“Being able to utilize the FLIR MUVE C360 on Boston Dynamics’ Spot and commonly used UAS systems for inspection make this payload one of the most versatile sensors we have in our toolbox today,” said Jason Acerbi, general manager at MFE Inspection Solutions. “Whether during day-to-day checks or an emergency response event, our clients take air quality monitoring seriously, from ground level to the tallest assets inside an oil and gas facility.”
MUVE C360 delivers continuous threat information in real-time and is fully integrated with commonly used enterprise UAS platforms, including the Teledyne FLIR SkyRanger™ which offers secure data communications for defense and homeland security applications as well as unmatched flight capabilities. In addition, Teledyne FLIR’s new MUVE C360 Partnership Program offers potential partners the opportunity to become a certified C360 integrator.
Attendees at the 4C Conference for oil and gas industry professionals, being held in Austin, Texas, April 6-8, can see the MUVE C360 integrated onto Spot and other remote inspection platforms. Visit MFE Inspection Solutions at booth #4909 to learn more.
About Teledyne FLIR
Teledyne FLIR, a Teledyne Technologies company, is a world leader in intelligent sensing, unmanned systems, and integrated solutions for defense and industrial markets, with roughly 4,000 employees worldwide. Founded in 1978, the company develops a wide range of advanced technologies to help professionals make better, faster decisions that save lives and livelihoods. To learn more, visit teledyneflir.com or follow @flir. #AnyThreatAnywhere
About Teledyne Technologies
Teledyne Technologies is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Teledyne's operations are primarily located in the United States, the United Kingdom, Canada, and Western and Northern Europe. For more information, visit Teledyne's website at www.teledyne.com.
Joe Ailinger, Jr.
Teledyne FLIR
Phone: +1 781-801-6161
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Ryan Williams
Targeted Victory
Phone: +1 617-697-9072
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Synthetic Lubricants Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The synthetic lubricants market is expected to grow at a CAGR of 3.48% during 2021-2027.
The global synthetic lubricants market is expected to witness stagnant growth during the forecast period. The consumption of synthetic lubricants is majorly driven by automotive and transport sector.
GEOGRAPHICAL ANALYSIS
APAC is the leading market for synthetic lubricants. The region accounted for 45% market share in 2021. The growth in the region is associated with the increasing demand for automotive and high-performance industrial machinery and equipment.
APAC region consists of emerging as well as developed economies such as Japan, China, India, South Korea, and Australia. These countries have considerable demand for automotive, agricultural, and construction vehicles. APAC region is also a hub for the growth of new industrial developments such as advanced manufacturing, smart cities, smart construction, and so on.
GLOBAL SYNTHETIC LUBRICANTS MARKET SEGMENTATION
Automotive and transportation are the largest segment by end-use. Automotive and transportation synthetic lubricants accounted for 32.20% market share in 2021.
The automotive and transportation segment is expected to register a CAGR of 3.76% during the forecast period. Advantages driving the demand for synthetic lubricants in this segment are wear and tear prevention, reduced friction, proper heat dissipation, oxidation and corrosion prevention, component stress relieving, and maintaining proper engine functionality.
VENDOR ANALYSIS
Shell (US), ExxonMobil (US), British Petroleum (UK), Chevron (US), and Sinopec (China) are some of the key players in the synthetic lubricants market. The market is largely commoditized, with price serving as a significant differentiator. Manufacturers are constantly involved in developing new and sustainable products as per customer requirements and safeguard environment as well.
Developments:
Key Vendors
Other Prominent Vendors
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
8 Market Opportunities & Trends
8.1 Increasing Demand for Reduction in Emission
8.2 Demand for Higher Fuel Economy Vehicles
8.3 Increasing Demand for High-Performance Lubricants
9 Market Growth Enablers
9.1 Growing Use in Automotive Sector
9.2 Increasing Use in Wind Turbine Industry
9.3 Rising Use in Electric Vehicles
10 Market Growth Restraints
10.1 Emergence of Bio-Based Lubricants
10.2 High Cost of Synthetic Lubricants
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
11.4 Regulatory Outlook
11.5 Impact of Covid-19
12 Application
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Engine Oil
12.4 Transmission Fluids & Hydraulic Fluids
12.5 Metalworking Fluids
12.6 Grease
12.7 Others
13 End-User
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Power Generation
13.4 Automotive & Transportation
13.5 Heavy Equipment
13.6 Food & Beverage
13.7 Others
14 Type
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Polyalphaolefin (Pao)
14.4 Polyalkylene Glycol (Pag)
14.5 Esters
15 Geography
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/u8s2ls.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that it plans to issue its earnings release with respect to first quarter 2022 financial results on Wednesday, May 4, 2022 before the market opens. Cheniere will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) that day to discuss first quarter results.
A listen-only webcast of the call and accompanying slide presentation will be available on the Company’s website at www.cheniere.com. After completion of the webcast, a replay will be available on the Company’s website.
About Cheniere
Cheniere Energy, Inc. is the leading producer and exporter of liquefied natural gas (LNG) in the United States, reliably providing a clean, secure, and affordable solution to the growing global need for natural gas. Cheniere is a full-service LNG provider, with capabilities that include gas procurement and transportation, liquefaction, vessel chartering, and LNG delivery. Cheniere has one of the largest liquefaction platforms in the world, consisting of the Sabine Pass and Corpus Christi liquefaction facilities on the U.S. Gulf Coast, with total production capacity of approximately 45 million tonnes per annum of LNG in operation. Cheniere is also pursuing liquefaction expansion opportunities and other projects along the LNG value chain. Cheniere is headquartered in Houston, Texas, and has additional offices in London, Singapore, Beijing, Tokyo, and Washington, D.C.
For additional information, please refer to the Cheniere website at www.cheniere.com and Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements” within the meanings of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere’s financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding regulatory authorization and approval expectations, (iii) statements expressing beliefs and expectations regarding the development of Cheniere’s LNG terminal and pipeline businesses, including liquefaction facilities, (iv) statements regarding the business operations and prospects of third-parties, (v) statements regarding potential financing arrangements, (vi) statements regarding future discussions and entry into contracts, (vii) statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, and share repurchases, and (viii) statements regarding the COVID-19 pandemic and its impact on our business and operating results. Although Cheniere believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere’s periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere does not assume a duty to update these forward-looking statements.
Cheniere Energy, Inc.
Investors
Randy Bhatia 713-375-5479
Frances Smith 713-375-5753
Media Relations
Eben Burnham-Snyder 713-375-5764
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) announced today that it will hold a conference call on Wednesday, April 27, 2022 at 10 a.m. Eastern Time to discuss its first quarter 2022 earnings release.
To phone into the conference call, parties in the United States should dial 877-693-6685 and enter the pass code 5695921 after 9:45 a.m. Outside the United States, parties should dial 443-295-9223 and enter the pass code 5695921. This conference call will also be accessible by webcast (audio only).
A replay of the conference call will be available from April 27 through May 12, 2022 by dialing 855-859-2056 and entering the pass code 5695921. Outside the United States, parties should dial 404-537-3406 and enter the pass code 5695921.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at https://www.hess.com/.
Forward-looking Statements
Certain statements in this release may constitute "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, uncertainties inherent in the measurement and interpretation of geological, geophysical and other technical data. Estimates and projections contained in this release are based on the Company’s current understanding and assessment based on reasonable assumptions. Actual results may differ materially from these estimates and projections due to certain risk factors discussed in the Corporation’s periodic filings with the Securities and Exchange Commission and other factors.
Investor:
Jay Wilson
(212) 536-8940
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Lorrie Hecker
(212) 536-8250
This email address is being protected from spambots. You need JavaScript enabled to view it.
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, April 29, 2022, at 11:00 a.m. ET (8:00 a.m. PT).
Conference Call Information:
Date: Friday, April 29, 2022
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 800-357-3979
Conference ID #: 9933103
Speakers:
Mike Wirth – Chairman of the Board and Chief Executive Officer
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations
To access the live webcast, visit www.chevron.com.
The meeting replay will also be available on the company website under the “Investors” section.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
Media Contact:
Braden Reddall
+1 (925) 842-2209
Set to launch in fall, Powering Our Future program will expand STEM and skilled trades training for up to 1,000 Chicago students
CHICAGO--(BUSINESS WIRE)--ComEd, in collaboration with Big Shoulders Fund and United Way Metro Chicago, today launched Powering Our Future – a new initiative that will expand skilled trades and STEM training at four Chicago Catholic high schools. To remove barriers to entry to energy and skilled trades careers, a new $450,000 investment by ComEd and parent company Exelon will pilot the program in schools located in historically underserved communities.
Building on expansive STEM programming ComEd supports at Chicago Public Schools, this initiative will expand career pathways for women and minorities, who are underrepresented in STEM industries. Thanks to ComEd’s investment and support from local philanthropy, the new Powering Our Future program is set to reach up to 1,000 students over the next three years.
“Women and people of color continue to be vastly underrepresented in STEM fields, but though our investments in workforce training and STEM education, we are looking to change that,” said Terence Donnelly, president and COO at ComEd. “At ComEd, our goal is to ensure our workforce matches the diversity of the communities we are privileged to serve, and that our ongoing and critical infrastructure investment serves as a catalyst to create jobs for local residents.”
Powering Our Future will combine in-classroom and hands-on technical experience to help more students explore possibilities and build skills to work in key skilled trades in the energy/utilities, advanced manufacturing, and technology sectors. Powering Our Future is set to launch at four Chicago Catholic high schools in the Big Shoulders Fund network this fall:
“Big Shoulders Fund is thrilled to partner with ComEd and United Way Metro Chicago to not only build students’ knowledge of skilled trade fields, but also provide pathways to a wide variety of college, training, and career opportunities,” said Big Shoulders Fund President and CEO Josh Hale. “The four Big Shoulders Fund high schools participating prepare students to go on to become our city’s future workforce and leaders, and this program provides an important new tool to enhance that work and expand potential career paths for them to pursue.”
The program will introduce students to career pathways in the energy, utility and related sectors. Big Shoulders Fund will work with school staff to implement a new curriculum this fall – with in-classroom instruction led by current STEM teachers and staff, and ComEd supporting hands-on experiences including field trips, work-based learning, mentoring and technical classes. The program will serve as a steppingstone to advanced training by ComEd, including the CONSTRUCT Training Academy, and programs offered in partnership with Dawson Technical Institute of Kennedy-King College.
“United Way of Metro Chicago is excited to connect high school students in our Neighborhood Networks in Auburn Gresham and South Chicago with the Powering Our Future program,” said Sean Garrett, President and CEO of United Way of Metro Chicago. “Leveraging our coalitions in the Neighborhood Networks will help enroll more students in this vital program, providing pathways to future careers and ultimately building stronger, more equitable communities.”
The four schools are located in historically disadvantaged communities, within the Big Shoulders Fund network. With two of the pilot schools serving an all-girls population, this program also brings forward a first-of-its-kind opportunity to expand skilled trades-focused training for women.
“Building a skilled and diverse labor force to power our electrical needs today and tomorrow starts with investments in our young people,” said Terry McGoldrick, President of IBEW Local 15. “We applaud ComEd’s efforts to develop partnerships with local schools and community partners that will enhance skill building and expose more of our young people to the possibility of good paying jobs in the electric trades.”
Advancements in clean energy technology are expected to fuel new jobs for the future, with the Center for Energy Workforce Development estimating 2,000 new jobs in utilities in the Midwest region in the next three years alone. To ensure that future clean energy jobs go to diverse local residents – ComEd is taking steps to address inequities in STEM. As little as 9 percent of STEM jobs are occupied by Black Americans, with 7 percent by Latinos, and 28 percent by women.
Powering Our Future builds on the success of current ComEd education and job training programs, including: the Chicago Builds immersive skilled trades program for juniors and seniors; Create A Spark – a four-year STEM training and mentorship program for high school students enrolled in Chicago Public Schools (CPS); and STEM Home Labs, a leadership series designed to overcome barriers to STEM related careers. Last year alone, these programs helped reach over 1,000 students across the city of Chicago and involved participation by 174 ComEd mentors.
Over the next few months, Big Shoulders Fund will work with school communities to host virtual and community meetings where students can learn more about the program and how participating would enhance their own college and career plans. For more information about the Powering Our Future program and other STEM education initiatives, please visit ComEd’s website.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
e-Zinc’s unique zinc-based electrochemical technology provides a long-lasting, low-cost, flexible, fire-resistant, and easily recyclable energy storage solution
TORONTO--(BUSINESS WIRE)--#battery--e-Zinc, the company enabling sustainable, long-duration energy storage with its zinc-air battery, announced today that it has raised USD $25 million in Series A financing led by Anzu Partners, with additional funding from BDC Capital, Toyota Ventures, and Eni Next. Existing investors, including Seed Round lead investor Energy Foundry, also participated. e-Zinc will use this funding to commence the pilot production of its first commercial energy storage systems for field deployment.
As reliance on intermittent renewable energy increases across the world, there is higher demand for long-duration energy storage assets that enhance the reliability and resiliency of renewable energy assets. e-Zinc recently validated that its zinc-air battery can discharge energy for several days at rated power, compared to only a few hours for most other battery types. Paired with renewable energy sources, e-Zinc’s battery can enable a 100 percent renewable energy future.
In the near-term, e-Zinc aims to displace diesel generators as low-emission alternatives for half-day to five-day backup power use cases. e-Zinc’s battery can also be paired with renewable energy generation to replace the need for fossil fuels in remote or off-grid applications. For example, e-Zinc is partnering with the California Energy Commission to show how e-Zinc’s battery can power businesses through multi-day outages caused by natural disasters such as wildfires, earthquakes, or floods.
"Since raising seed funding in 2020, we have refined our technology and achieved many critical technical milestones, such as demonstrating how our system pairs to solar and grid generation, developing the Balance of System (BoS), and implementing a software and controls layer," said James Larsen, CEO of e-Zinc. "With this Series A financing, we now have the opportunity to execute high-value commercial pilot projects that provide in-field validation for our batteries."
e-Zinc’s Series A investors include leading firms that will serve as valuable partners and advisors to drive growth for the company. Toyota Ventures will provide guidance to help e-Zinc scale its manufacturing and supply chain efforts. Eni Next is the corporate venture capital vehicle of Eni, one of the world’s largest energy companies with renewable energy assets across the globe where e-Zinc can potentially deploy its technology. Anzu Partners and BDC Capital offer deep technical, investment, and operational expertise that will assist e-Zinc in developing its business strategy and commercializing its technology.
“Anzu sees tremendous potential in zinc-air batteries to support renewable energy in both on- and off-grid applications,” said David Michael, Managing Partner at Anzu Partners. “We are enthusiastic about e-Zinc’s vision for a renewable energy future, and we look forward to supporting the company to demonstrate the value of its technology in real-world settings.”
“While it is clear that electrification has a key role to play in our journey towards decarbonization, we must ensure that there is an ample and affordable supply of clean energy to the grid,” said Lisa Coca, partner, Climate Fund at Toyota Ventures. “Despite solar and wind deployments being on track to hit record highs, it is critical to address the issue of intermittency, which is why we are excited to support e-Zinc. The company’s innovative battery architecture decouples energy from power to enable cost-effective, long duration energy storage – bringing us one-step closer to a zero-carbon future.”
“We are very excited to partner with e-Zinc, a company developing an innovative, viable, impactful technology for long-term energy storage with multiple applications. This investment reaffirms our commitment in the energy transition with an increasing development of renewable energy assets and our active involvement in the long-term energy storage space, which we regard as a key enabler for the electrification and the decarbonization of the global energy production," said Gabriele Franceschini, Chairman and CEO of Eni Next.
For more information, visit www.e-zinc.ca.
About e-Zinc
e-Zinc is a zinc-air battery company based in Toronto. The company’s energy storage system can be up to 80 percent less expensive than comparable lithium-ion systems for long-duration applications. Importantly, its energy storage system can operate in cold and hot climates, and is made of abundant and recyclable materials. www.e-zinc.ca.
Media
Brandon Reid for e-Zinc
This email address is being protected from spambots. You need JavaScript enabled to view it.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--$RDW--Redwire Corporation (NYSE: RDW; “Redwire” or “the Company”) announces that its Chief Executive Officer, Peter Cannito will present at Jefferies Virtual Space Summit on April 12, 2022, at 1:00 PM Eastern. The conference will be held virtually and is restricted to conference participants.
About Redwire
Redwire Corporation (NYSE: RDW) is a leader in space infrastructure for the next generation space economy, with valuable IP for solar power generation and in-space 3D printing and manufacturing. With decades of flight heritage combined with the agile and innovative culture of a commercial space platform, Redwire is uniquely positioned to assist its customers in solving the complex challenges of future space missions. For more information, please visit www.redwirespace.com.
Investor Contact:
Michael Shannon
This email address is being protected from spambots. You need JavaScript enabled to view it.
904-425-1413
NEW YORK--(BUSINESS WIRE)--Chase today announced that it will pilot public fast electric vehicle charging stations across 50 of its U.S. branches beginning this summer. This adds to the firm’s efforts to promote environmental sustainability in its retail locations as it also aims to expand on-site solar power to approximately 400 additional branches by the end of 2022.
To bring the charging stations to branches, the bank partnered with EVgo, a pioneer and innovator in transportation electrification. The company builds, owns and operates the nation’s largest network of public DC fast chargers, powered by 100% renewable energy.
Charging stations at branches bring added convenience to customers, allowing them to set up a meeting with a banker and conduct their banking needs while charging their cars.
“We’re always listening and taking feedback from customers when it comes to the branch experience, and we know environmental sustainability is important to them,” said Jennifer Roberts, CEO of Chase Consumer Banking. “We’re excited to work together with EVgo to bring electric vehicle charging to our branches and offer this important service to thousands of customers and their communities.”
Fast chargers will be installed at select Chase branch locations in states like California, Indiana, Illinois, New York, Oregon, and Pennsylvania, offering thousands of drivers access to 100kW and 350kW chargers that can charge vehicles as much as 80% in 15-45 minutes.* The bank expects to have all stations available for use by the summer of 2023.
Once installed and operational at the 50 branch locations, EVgo estimates chargers will deliver up to 9.4million kWh annually to provide nearly 30 million EV miles charged, equivalent to avoiding 12,000 mt of CO2 and planting approximately 196,000 trees each year.
“Reducing the amount of pollution from tailpipes will have real benefits for consumers and communities, and increasing the availability of convenient public fast charging gives more drivers peace of mind to switch to electric,” said Cathy Zoi, CEO of EVgo. “Having access to fast charging in everyday settings of life – the local bank being a great example as well as an important community staple – is truly key. We’re excited to partner with Chase, and together with our shared values, we look forward to working together on decarbonizing transportation and improving our communities.”
Transportation is the largest source of greenhouse gas emissions in the United States. While electric vehicles promise to be the future of transportation – projected to reach 145 million on the road by 2030 – the lack of charging infrastructure is one of the biggest hurdles to EV adoption. This collaboration will help scale the EV industry in communities across the U.S.
The installation of EVgo charging stations, powered by 100% renewable energy, builds on JPMorgan Chase’s efforts to promote environmental sustainability and the adoption of renewables, including in its thousands of retail branches across the U.S.
In the coming months, Chase will also continue to expand on-site solar power at its branches across the U.S. To date, Chase has added solar installations at over 350 branches in Michigan, Arizona Nevada, and California, with additional projects underway in Florida, Ohio, Colorado, Illinois, Louisiana, Indiana and New York. Chase’s goal is to complete solar installations at approximately 400 additional branches plus 125 carports – solar panels installed above parking lots – by the end of 2022. When the project is complete, it will provide over 25 megawatts of solar capacity, or enough to power approximately 3,200 homes. This effort is part of the firm’s strategy to minimize the environmental impact of its operations, and will contribute toward the goal of reducing greenhouse gas emissions from its buildings, branches and data centers by 40% by 2030.
##
* Actual charging speed depends on vehicle’s charging capability
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading financial services firm based in the United States with assets of $3.7 trillion and operations worldwide. Chase serves more than 60 million American households with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Customers can choose how and where they want to bank: Nearly 4,800 branches in 48 states and the District of Columbia, 16,000 ATMs, mobile, online and by phone. For more information, go to chase.com.
About EVgo
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 850 charging locations, EVgo’s owned and operated charging network serves over 60 metropolitan areas across more than 30 states and approximately 340,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.
Chase media contact:
Iba Reller
This email address is being protected from spambots. You need JavaScript enabled to view it.
EVgo media contact:
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE: USDP) (the “Partnership”) today announced it has closed the previously announced acquisition of the Hardisty South terminal assets (“Hardisty South”) from USD Group LLC (“USDG” or the “Sponsor”), and exchanged the Sponsor’s economic general partner interest in the Partnership (“GP Interest”) for a non-economic GP Interest and eliminated the Sponsor’s incentive distribution rights (“IDRs”) in the Partnership for total consideration of $75 million in cash and approximately 5.75 million common units (the “Transaction”). The cash portion of the Transaction was funded with borrowings under the Partnership’s $275 million senior secured credit facility.
Today, the Partnership’s combined Hardisty Terminal has the designed takeaway capacity of three and one-half unit trains per day, or approximately 262,500 barrels per day, including the newly-acquired Hardisty South Terminal. The acquisition of the Hardisty South Terminal increases the size, scale and growth capacity of the Partnership’s asset base, while optimizing operational and commercial synergies of the Hardisty Terminal in order to capitalize on the growth benefits associated with the Sponsor’s Diluent Recovery Unit (“DRU”) program.
The Transaction was approved by the Board of Directors of the general partner of the Partnership based on the approval and recommendation of its Conflicts Committee, which consists entirely of independent directors.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by USDG to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies and refiners. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail. For additional information, please visit www.usdpartners.com.
About USDG
USDG and its affiliates, which own the general partner of USD Partners LP, are engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USDG solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USDG is currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit www.usdg.com. Information on websites referenced in this release is not part of this release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to benefits of the transaction, future financial results, growth, and performance of assets. Words and phrases such as “expect,” “plan,” “intent,” “believes,” “projects,” “begin,” “anticipates,” “able,” “subject to” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests, USD’s projects and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include the impact of the novel coronavirus (COVID-19) pandemic and related economic impact and changes in general economic conditions and commodity prices, as well as those factors set forth under the heading “Risk Factors” and elsewhere in the Partnership’s most recent Annual Report on Form 10-K and in the Partnership’s subsequent filings with the Securities and Exchange Commission (many of which may be amplified by the COVID-19 pandemic and the significant volatility in demand for, and fluctuations in the prices of, crude oil, natural gas and natural gas liquids). The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Category: Operations
Adam Altsuler
Executive Vice President, Chief Financial Officer
(281) 291-3995
This email address is being protected from spambots. You need JavaScript enabled to view it.
Jennifer Waller
Senior Director, Financial Reporting & Investor Relations
(281) 991-8383
This email address is being protected from spambots. You need JavaScript enabled to view it.
Sophisticated management solution built from the ground up specifically to optimize electrified fleets enables customers to focus on pupil transportation, not EV management
BEVERLY, Mass. & NEW YORK--(BUSINESS WIRE)--#EVs--Highland Electric Fleets, the leading provider of full-service school bus electrification subscriptions in North America, and Synop, an AI-based, single-platform management service for commercial electric vehicle (EV) fleets, have entered into a long-term strategic partnership to seamlessly and efficiently manage complex EV fleet charging, grid connection, and fleet operations. Through the partnership, school districts, fleet owners, and third-party fleet management companies can focus on delivering children to school in a safe, quiet, and clean environment while services including smart charge management, fleet operations, AI-driven forecasting tools, and vehicle-to-grid (V2G) optimization are all managed effortlessly in the background. The partnership brings value-added benefits to districts choosing Highland, allowing them to stay on budget and electrify their fleet at a pace that works for them.
The integration of Synop supports Highland’s pioneering full-service subscription model, which includes everything a school district or fleet operator needs to electrify their fleets. Highland provides the school buses, installs charging infrastructure, supports driver and mechanic training and long-term bus maintenance, and more. Synop’s back-end platform manages fleet-wide V2G controls and complex coordination between vehicles, utilities, and energy markets to ensure that fleets with Highland subscriptions provide the maximum benefit to both customers and the grid, without the need for customer intervention. Customers who want deeper visibility into fleet operations can use Synop to see their vehicles in real-time throughout the day and track their state of charge and fleet performance, among other things.
These powerful tools allow Highland to build V2G and other ancillary services into its subscriptions, lowering the cost for customers and ensuring that vehicles are always ready for their daily routes and also able to support the local electric grid when needed. In addition, the interoperability of the Synop platform allows Highland to offer its customers the bus manufacturer of their choice.
“Synop lets us deliver a seamless experience for our customers, with detailed fleet information for customers who want that visibility. By managing vehicle uptime, charging, and complex data on fleet operations for any brand of electric bus, Synop’s sophisticated technology enables us to deliver on our promise to customers that they will have a reliably charged electric school bus every school day,” said Highland CEO, Duncan McIntyre. “This partnership with Synop enables Highland to offer districts a comprehensive subscription that enables them to focus on what they do best - delivering children safely to and from school without having to manage the complexities that come with EV charging.”
“We’re excited to partner with the market leader in school bus electrification to help enable the electric transition and set the standard for operating electric school buses at scale,” said Gagan Dhillon, Synop’s CEO. “This partnership will help Synop deliver our technology to school districts all across North America and enable them to rapidly transition away from diesel-powered buses. We look forward to working with Highland and offering easy-to-use charging and energy management solutions to districts across the country”
About Highland
Highland is the leading North American provider of subscriptions that make school bus fleet electrification affordable today. By managing design, construction, financing, and charging, and training school district drivers and mechanics on operation and maintenance, Highland empowers customers to transport students on fully charged, clean electric buses every school day. Highland was awarded the largest active school bus electrification project in North America to date, through Maryland’s Montgomery County Public Schools, and delivered New England’s first vehicle-to-grid (V2G) application using an electric school bus. To learn more, visit https://highlandfleets.com.
About Synop
Synop is an end-to-end EV fleet and charging management platform built to scale the adoption of commercial electric vehicles across fleets. By combining electric vehicle telematics with charging and energy management, the company has built a best-in-class operations platform set to power the future of electric fleets across North America. Interoperability is core to the company's technology, enabling fleets to scale with multiple vehicle classes and charging partners quickly. To learn more, visit https://www.synop.ai/.
Media contacts
Mission Control Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
Gagan Dhillon
This email address is being protected from spambots. You need JavaScript enabled to view it.
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--#CHRobinson--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW), one of the world’s largest logistics platforms, announced today that it will issue its first quarter 2022 results via press release after the market closes on Wednesday, April 27, 2022. The company will hold a conference call from 5:00 pm - 6:00 pm Eastern Time on the same day to discuss the quarterly results and answer live questions from the investment community.
Hosting the conference call will be Bob Biesterfeld, President and Chief Executive Officer; Arun Rajan, Chief Product Officer; Mike Zechmeister, Chief Financial Officer; and Chuck Ives, Director of Investor Relations.
Presentation slides and a simultaneous audio webcast of the conference call may be accessed at http://investor.chrobinson.com.
To participate in the conference call by telephone, please call ten minutes early by dialing 877-269-7756. International callers should dial +1-201-689-7817. An audio replay will be available at http://investor.chrobinson.com.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $28 billion in freight under management and 20 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our 100,000 customers and 85,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).
Source: C.H. Robinson
CHRW-IR
Chuck Ives, Director of Investor Relations
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce new orders for its proprietary Membrane Electrode Assemblies (“MEAs”) by Safran Power Units, a leader in auxiliary power systems and turbojet engines. The MEAs are based on Advent’s proprietary high temperature-proton exchange membrane technology (“HT-PEM”). The supply of Advent’s MEAs started in the first quarter of 2022, and deliveries are expected to continue through the second quarter of 2022. The MEAs will support Safran Power Units’ R&D efforts.
HT-PEM technology has applications across multiple industries because it:
Safran Power Units constantly innovates and develops new power unit solutions, featuring higher performances with lower environmental footprint and operating costs, relying on its expertise in hybridization and fuel cells. Safran Power Units has been a long-term customer of Advent, having tested and deployed the Company’s state-of-the-art MEAs in a variety of applications in the past.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, said, “We are delighted about our long-term collaboration with Safran Power Units, as well as the continuous trust they have with our MEAs over the past years. The HT-PEM technology is particularly suitable for aviation and aerospace industry applications because they require heavy-duty resilience with lightweight, high-power performance.”
MEAs form the heart of the fuel cell, and their performance determines the lifetime, efficiency, weight, and to a large extent, the cost of the end electrochemistry products. Due to their high temperature of operation between 120 °C to 200 °C, Advent’s MEAs can work with impure hydrogen, which can be reformed on-board from methanol, natural gas, and other renewable fuels.
Advent is also developing a new, enhanced MEA (“Advent MEA”) in collaboration with the US Department of Energy’s Los Alamos National Laboratory, Brookhaven National Laboratory, and National Renewable Energy Laboratory within the framework of the L’Innovator program. The new Advent MEA is expected to redefine the MEA market globally and further validate Advent’s leading position in the electrochemistry components business.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 100 patents issued and licensed for its fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www. Advent.energy.
About Safran Power Units:
Safran Power Units designs and manufactures auxiliary power units (APU) and starting systems for civil and military aircraft, as well as turbojet engines for missiles and target drones. It is a world leader in its market, with over 21,000 systems delivered worldwide, since its creation in 1961. Safran Power Units is also Safran’s center of excellence in the domain of fuel cells.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
This email address is being protected from spambots. You need JavaScript enabled to view it.
TUCSON, Ariz.--(BUSINESS WIRE)--Tucson Electric Power (TEP) will seek new wind and solar generation, energy storage systems and other resources such as energy efficiency with an All-Source Request for Proposals (ASRFP) it plans to issue on Tuesday, April 19. The due date for proposals is expected to be July 1, 2022.
The ASRFP will target resources to support TEP’s 2020 Integrated Resource Plan (IRP), which calls for TEP to reduce its carbon emissions by 80 percent and to supply more than 70 percent of its energy to retail customers from renewable resources by 2035. It calls for building an increasingly sustainable resource portfolio by retiring coal-fired power plants and replacing them with a significant expansion of renewable resources and energy storage systems, backed by existing and efficient natural gas-fired generators.
In 2021, TEP added 449 megawatts (MW) of new wind and solar resources, allowing the company to provide about 30 percent of its power from renewable resources.
“We're now looking for ways to add even more reliable, cost-effective resources as we build a cleaner, greener grid for our community,” said Susan Gray, TEP’s President and Chief Executive Officer. “We’re especially interested in resources that are consistently available during the late afternoon and early evening hours of summer, when customers' energy needs are greatest.”
In its request, TEP will seek bids for all resource types, including:
Engineering, procurement, and construction (EPC) contractors interested in offering energy storage proposals for TEP’s build-ready site in Tucson must attend a site visit scheduled for April 28, 2022. EPC contractors must visit the ASRFP website below for additional information on the site visit.
TEP will review proposals this summer and announce successful proposals near the end of this year. TEP is seeking resources that will commence service as soon as May 1, 2024 but no later than May 1, 2025. Projects with combined technologies are eligible for consideration.
The ASRFP process is being supported by 1898 & Co., with independent monitoring services provided by Sargent & Lundy. More information, including bidder registration and ASRFP material, is available at https://tep2022asrfp.rfpmanager.biz/.
TEP customers’ energy needs are growing, with new peak energy demand records set in both 2020 and 2021. TEP is working to meet those needs with an increasingly clean energy resource mix that set a new record last month for renewable energy production.
In February 2022, the Arizona Corporation Commission reviewed and acknowledged TEP’s 2020 IRP, noting its use of ASRFPs to secure future resources and providing guidance on development of future resource plans. TEP’s 2020 IRP describes TEP’s plan for avoiding the production of more than 50 million tons of carbon dioxide over the next 15 years – equivalent to removing three-quarters of a million cars from the road. It also describes how TEP will eliminate the use of surface water for power generation and achieve a 70 percent reduction in groundwater use. It also describes TEP’s plan to gradually retire its remaining coal-fired power plants over the next 10 years.
TEP provides safe, reliable electric service to more than 438,000 customers in Southern Arizona. For more information, visit tep.com. TEP and its parent company, UNS Energy, are subsidiaries of Fortis Inc. (TSX/NYSE: FTS), which owns utilities that serve more than 3 million customers across Canada and in the United States and the Caribbean. For more information, visit fortisinc.com.
Joseph Barrios
(520) 884-3725
This email address is being protected from spambots. You need JavaScript enabled to view it.
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR) announces the following schedule and teleconference information for its first quarter 2022 earnings release:
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers across end markets including aerospace, defense, chemical and petrochemical, water and wastewater, payment automation, and banknote security and production, as well as for a wide range of general industrial and consumer applications. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials. On May 24, 2021, Crane announced that it had signed an agreement to divest its Engineered Materials segment subject to customary closing conditions and regulatory approval. On March 17, 2022, the Department of Justice (DOJ) filed a complaint to enjoin that sale transaction. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today new contracts and contract extensions, with associated contract backlog of $181 million, awarded subsequent to issuing the Company’s most recent fleet status report on February 21, 2022.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," “likely,” "plan," "project," "could," "may," "might," “should,” “will” and similar words. The forward-looking statements contained in this press release are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the COVID-19 outbreak and global pandemic and the related public health measures implemented by governments worldwide; the cancellation, suspension, renegotiation or termination of drilling contracts and programs, including drilling contracts which grant the customer termination rights if final investment decision (FID) is not received with respect to projects for which the drilling rig is contracted; oil and natural gas price volatility, customer demand for drilling rigs; downtime and other risks associated with offshore rig operations; severe weather or hurricanes; changes in worldwide rig supply, competition and technology; risks inherent to shipyard rig reactivation, upgrade, repair or maintenance; our ability to enter into, and the terms of, future drilling contracts; suitability of rigs for future contracts; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to obtain financing, fund capital expenditures and pursue other business opportunities; the effects of our emergence from bankruptcy on the Company's business, relationships, comparability of our financial results and ability to access financing sources; actions taken by regulatory authorities or other third parties, including related to the COVID-19 global pandemic; increased scrutiny of Environmental, Social and Governance (“ESG”) practices and reporting responsibilities; changes in customer strategy; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; environmental or other liabilities, risks or losses; debt agreement restrictions that may limit our liquidity and flexibility; failure to satisfy our debt obligations; and cybersecurity risks and threats. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, which is available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
SAN RAMON, Calif.--(BUSINESS WIRE)--GE Digital today announced that long-time customer National Grid Electricity System Operator (ESO) has deployed the software company’s ground-breaking Effective Inertia Metering & Forecasting® solution in production across Great Britain’s electricity network. Inertia is a critical factor as it keeps a grid running when a generator suddenly disconnects, buying time for other generators to ramp-up. The GE Digital solution is designed to deliver valuable capabilities to inform National Grid ESO’s management and engineers of grid inertia day-to-day to help ensure the system can handle a worst-case generator loss.
Most inertia comes from big fossil fuel, nuclear, and hydro generation. With the shift to renewables, grid inertia is reducing. What’s left is harder to measure because much of it is coming from demand, smaller generators, and grid behavior “beneath the surface.” This makes life harder for system operators like National Grid ESO, and others across the world. Since inertia can be expensive and carbon-intensive, operators need to be confident they have enough while considering the cost to billpayers and emissions.
National Grid ESO and GE Digital have worked closely together to deploy the solution, built on GE Digital’s energy platform for Wide Area Management (WAMS) applications. WAMS software is designed to provide system management through enhanced situational awareness, proactive grid management, and maximized transfer capability. The Effective Inertia Metering & Forecasting solution helps to provide confidence to operators about the margin and risk of their current and planned inertia positions. With analytics services, Effective Inertia Metering & Forecasting measures the combined inertia-like effects of rotating machines, passive load responses, and active generator controls. The metering function is non-intrusive, just software, with no injection of forced stimulation or additional hardware into the network. WAMS data and analytics measure effective inertia in each regional area of the power system in real time and can combine them to a system-wide value.
The project featured a staged delivery with incremental software releases and close week-by-week collaboration between GE and National Grid ESO. This enabled rapid feedback and adaptation, helping to navigate external dependencies – such as links to external energy forecast systems – leading to successful acceptance testing of the new solution. With real-time inertia metering now live for more than 200 days and inertia forecasting for a number of weeks across the Scotland region of the Great Britain grid, all that remains is to install additional Phasor Measurement Units (PMUs) in a handful of remaining substations to complete the Great Britain regional inertia picture.
“This pioneering tool will improve the ESO’s ability to manage system stability across the entire network as more renewable energy sources connect to the grid,” said Julian Leslie, Head of Networks at National Grid ESO. “It forms a suite of world-leading technology procured by the ESO that will enable us to generate inertia in a greener way and map and monitor it rather than bringing on coal or gas plants when inertia levels are estimated to be low.”
To avoid issues, some operators have to manage inertia on a regional basis. They can also deploy fast-acting Wide Area Control schemes like those being deployed by GE Digital at Landsnet in Iceland and Australia. Such schemes act in less than a second to stabilize a grid following a disturbance. Having a real-time measure of regional inertia in the future will help them judge exactly how much injected power is needed in each location.
“Modernizing the power grid with technologies like Effective Inertia Metering & Forecasting help operators like National Grid ESO balance and stabilize renewables on the grid, optimize operations, and reduce costs and carbon in an increasingly complex ecosystem,” said Jim Walsh, General Manager of GE Digital’s Grid Software business. “Our partnership with National Grid ESO is critical to advancing these solutions to keep up with the market globally.”
Click on this link for more information about GE Digital’s Grid Software portfolio.
About National Grid ESO
National Grid ESO – a legally separate business within the National Grid group – sits at the heart of the electricity system in Great Britain, keeping the lights on around the clock for energy consumers. It moves electricity around the country’s high-voltage network to balance supply and demand in real-time, using a mix of power sources to make sure electricity is available wherever and whenever it’s needed.
The ESO’s mission is to facilitate the decarbonisation of Great Britain’s energy network and ensure the delivery of reliable, affordable, and green electricity for consumers. It works with stakeholders across the whole energy industry to plan for future network needs, using insight to make sure it can balance the system today and find opportunities to transform the way it operates it tomorrow.
About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.
© 2022 General Electric. All rights reserved. GE and the GE logo are either registered trademarks or trademarks of General Electric in the United States and/or other countries. All other trademarks are the property of their respective owners.
Media:
Ellie Holman, GE Digital
This email address is being protected from spambots. You need JavaScript enabled to view it.
TUCSON, Ariz.--(BUSINESS WIRE)--UniSource Energy Services will seek new wind and solar generation, energy storage systems and other resources such as energy efficiency with an All-Source Request for Proposals (ASRFP) it plans to issue on Tuesday, April 19. The due date for proposals is expected to be July 1, 2022.
The ASRFP will target resources to support UniSource’s 2020 Integrated Resource Plan (IRP), which calls for increased use of owned or contracted generating resources and reduced dependence on wholesale market energy purchases. The IRP also describes UniSource’s plan to supply 50 percent of its energy to retail customers from renewable resources by 2035, taking advantage of reductions in the cost and improvements in reliability for wind, solar and storage technologies.
"We're looking for cost-effective resources that can help us maintain reliable service to our customers while building a cleaner energy grid with lower emissions," said Susan Gray, UniSource’s President and Chief Executive Officer. “We’re especially interested in resources that are consistently available during the late afternoon and early evening hours of summer, when customers' energy needs are greatest.”
In its request, UniSource will seek bids for all resource types, including:
UniSource will review proposals this summer and announce successful proposals near the end of this year. UniSource is seeking resources that will commence service as soon as May 1, 2024 but no later than May 1, 2025. Projects with combined technologies are eligible for consideration.
The ASRFP process is being supported by 1898 & Co., with independent monitoring services provided by Sargent & Lundy. More information, including bidder registration and ASRFP material, is available at https://unse2022asrfp.rfpmanager.biz/.
UniSource customers’ energy needs are growing, with new peak energy demand records set in both 2020 and 2021. UniSource is working to meet those needs with an increasingly clean energy resource mix. UniSource’s 2020 IRP describes the company’s plans to procure a robust mix of renewable resources, efficient natural gas generation and new customer opportunities for energy efficiency and managing peak energy demands.
In February 2022, the Arizona Corporation Commission reviewed and acknowledged UniSource’s 2020 IRP, noting its use of ASRFPs to secure future resources and providing guidance on development of future resource plans.
UniSource provides natural gas service to more than 165,000 customers in northern and southern Arizona. It also provides electric service to more than 100,000 customers in Mohave and Santa Cruz counties. For more information about UniSource, visit uesaz.com. UniSource and its parent company, UNS Energy, are subsidiaries of Fortis Inc. (TSX/NYSE: FTS), which owns utilities that serve more than 3 million customers across Canada and in the United States and the Caribbean. For more information, visit fortisinc.com.
Joseph Barrios
(520) 884-3725
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.