LAGOS, Nigeria--(BUSINESS WIRE)--As the Africa Finance Corporation (AFC) marks its 15th anniversary, the Corporation is rebranding with ‘Instrumental Infrastructure. Instrumental Africa’ as its strapline.
Our new logo embodies our mission to be the bridge to a prosperous African future, as we relentlessly strive to advance our continent’s instrumental position as it takes its place on the global stage.
Core to our approach, is turning infrastructure into an instrument for change. We consistently deliver fast and sustainable solutions to close Africa’s infrastructure gap and unleash our continent’s prosperity. In so doing, we seek to elevate Africa’s instrumental role as a critical engine of global growth.
Through impact investing in infrastructure, we are committed to helping the continent position for greater success in a world of growing crisis and complexity. Ultimately, we are working to shine the spotlight on Africa as a major supplier of beneficiated resources, goods and services, and as the primary source of metals and minerals for new energy transition—with the underlying goal of creating jobs for the world’s largest and youngest workforce.
As Africa’s leading infrastructure finance institution, offering end-to-end finance and consultancy, AFC’s rebranding reiterates its capabilities to deliver across power, heavy industries, natural resources, transport, logistics and telecommunications.
“Our new identity reinforces our role in working to advance Africa’s instrumental role as a global growth engine,” said Samaila Zubairu, President and CEO of AFC. “Through impact investing in infrastructure, we are committed to helping the continent position itself for greater success in a world of growing crisis and complexity.”
With Africa’s infrastructure investment needs estimated at US$130 to US$170 billion a year, AFC’s new branding is emblematic of its strategic developmental role in the sectors most critical as growth engines for sustainable economic development. In the process, millions of jobs required for the continent’s rapidly growing youth population are generated.
This approach leverages on Africa’s many advantages, including:
“Our approach puts the spotlight on Africa as a major supplier of beneficiated resources, goods and services, as the primary source of metals and minerals for new energy transition, and jobs for the world’s largest and youngest workforce,” said CEO Zubairu. “Our new brand endorses and anticipates the growing role Africa will play as it takes its rightful place on the world stage.” Ends.
About Africa Finance Corporation
AFC was established in 2007 to catalyse private sector-led infrastructure investment across Africa. It is the second highest investment grade rated multilateral financial institution in Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth. AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. Since its inception, AFC has invested over US$10 billion in projects across 35 African countries. www.africafc.org
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KENNESAW, Ga.--(BUSINESS WIRE)--As he lies in state today, Yamaha Marine honors the late Congressman Don Young (R-Alaska), the longest serving member of Congress and dean of the House, for his unwavering commitment to conservation, the example he provided as a true servant of his constituents and the way he energized those he met.
“We are thankful for Congressman Young’s legacy of conservation, but he also inspired us to improve our level of service to customers in Alaska,” said Ben Speciale, President, Yamaha U.S. Marine Business Unit. “His comments about the need for products to be more easily serviced in remote locations in the state encouraged us to redouble our efforts to train technicians in Alaska.”
Young’s passion and commitment to his constituents was unmatched. With keen foresight into the future needs and opportunities of Alaskans, Young was a key proponent for accelerating Yamaha Marine’s technician training programs. Today there are more than 70 recent Yamaha graduate technicians in the state, including the next generation graduating from Yamaha Marine Technical School partner Prince William Sound College in Valdez. Additional technician training programs are underway.
Young served as chairman of the House Natural Resources Committee from 1995 to 2001 and then as the chairman of the House Transportation and Infrastructure Committee from 2001-2007.
Yamaha Marine products are marketed throughout the United States and around the world. Yamaha Marine Engine Systems, based in Kennesaw, Ga., supports its 2,000 U.S. dealers and boat builders with marketing, training and parts for Yamaha’s full line of products and strives to be the industry leader in reliability, technology and customer service. Yamaha Marine is the only outboard brand to have earned NMMA®’s C.S.I. Customer Satisfaction Index award every year since its inception. Visit www.yamahaoutboards.com.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
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Westbank and Creative Energy partner to develop carbon-neutral community on First Hill
SEATTLE--(BUSINESS WIRE)--Today, the Archdiocese of Seattle and St. James Cathedral announced plans to sell and redevelop four properties on First Hill with Westbank, a global developer recognized for its long-term commitment to sustainable building. The vision is to create an inspiring carbon-neutral community that enhances the future of the First Hill neighborhood, while also supporting the continued mission of the Catholic Church.
“Creatively thinking about how we can better use our properties to achieve the mission of the Church is exactly what we need to do as good stewards of God’s gifts,” said Archbishop Paul D. Etienne. “Redeveloping our real estate in a very efficient and sustainable way not only reflects our Catholic value of caring for our common home, but also provides us with resources to carry out our greater mission of bringing Christ to others. This significant project is an investment in the First Hill community and in our future, ensuring we can continue the good work of the Catholic Church.”
The Archdiocese of Seattle and St. James Cathedral will sell four properties for development including St. James Cathedral’s Pastoral Outreach Center at 907 Columbia Street and the Archdiocese of Seattle’s buildings at 710 Ninth Avenue (Paul Pigott Building), 907 Terry Avenue (old Chancery Building), and 1104 Spring Street (Connolly House). As part of the agreement with Westbank, the historic Connolly House will be preserved.
Commitment to the Environment
As announced in 2021, Westbank and its affiliate Creative Energy have partnered with Swedish Health Services on First Hill in Seattle. Swedish—an affiliate of Providence Health—is working with Creative Energy to modernize its campus infrastructure. As part of this project, Swedish will be able to divert excess heat from its First Hill Campus to an energy sharing platform. Through this platform, Swedish will be able to share excess heat, which becomes a source of heating for other buildings connected to the platform, dramatically reducing the overall carbon footprint of the neighborhood. This infrastructure investment is part of the commitment Swedish and Providence have made to be carbon negative by 2030.
As part of the redevelopment of the older Archdiocesan and St. James Pastoral Outreach Center buildings, Westbank plans to create upwards of 1,300 residential homes across the housing continuum, connected to the district energy system.
“It’s a pleasure to be working with our partners at the Archdiocese of Seattle, to realize our shared vision for First Hill,” said Westbank founder Ian Gillespie. “Our initiative will create low-carbon housing, infrastructure and amenities that will serve Seattle for generations to come. We’re looking forward to continuing our work with the Archdiocese of Seattle and the team at Swedish Health Services, to not only contribute to the long-term vitality of this community but help First Hill significantly reduce its carbon footprint and demonstrate leadership globally in responding to climate change.”
“Recognizing all of nature as the handiwork of God, Pope Francis calls us to do all we can to protect the earth from further destruction,” said Archbishop Etienne. “Minimizing our impact on the earth is our responsibility as Catholics. Working with sustainability experts like Westbank and Creative Energy will ensure that the redevelopment uses green building techniques, processes and materials, while alleviating future environmental impacts with the district energy plan.”
Archdiocesan offices and St. James Pastoral Outreach Center
“We are grateful for this opportunity to collaborate with our partners to help shape the future of First Hill,” said Father Michael G. Ryan, pastor of St. James Cathedral since 1988. “This redevelopment will allow us to improve our office and gathering spaces, while greatly enhancing our ability to carry out our mission of worship and service. We are committed to being good stewards of our resources. St. James has been part of the history of First Hill since 1905, and we are excited to be part of shaping the First Hill of the future and ensuring that St. James Cathedral, as well as neighboring O’Dea High School, remain at its heart.”
The archdiocese will identify a new consolidated office location for its 125 employees and St. James Cathedral will relocate the offices and meeting areas currently housed in the Pastoral Outreach Center.
“Currently we have our employees in four separate buildings, which is not only costly to maintain, but also inefficient and an impediment to collaboration among archdiocesan staff,” said Joe Schick, CFO for the Archdiocese of Seattle. “Our plan is to merge all employees into one efficient office building, which reduces operational expenses, while providing a better experience for employees and visitors. This is a great example of our recently announced Catholic Real Estate Initiative in action.”
Supporting Housing Affordability
The planned redevelopment has the potential to generate over $25 million for the City of Seattle’s Mandatory Housing Affordability fund, which the city will allocate to build housing. This money will be made available to low-income and affordable housing builders, such as Catholic Housing Services (CHS), one of the largest providers of low-income and affordable housing in the city, which already operates two buildings on First Hill: Cathedral Place Apartments and Ozanam House.
For more information about the First Hill redevelopment, please visit https://firsthill-seattle.com/.
About the Archdiocese of Seattle
The Archdiocese of Seattle encompasses all of Western Washington, stretching from Canada to Oregon and from the Cascade Mountains to the Pacific Ocean. There are 72 Catholic Schools, 174 parishes, missions and pastoral centers in the archdiocese, with more than 500 weekly Masses celebrated in eight languages. Archbishop Paul D. Etienne leads the archdiocese with his auxiliary bishops, Bishop Eusebio Elizondo and Bishop-elect Frank Schuster. For more information about the Archdiocese of Seattle, please visit www.archseattle.org.
About St. James Cathedral
St. James Cathedral is the cathedral church for the Catholic Archdiocese of Seattle and its archbishop, the Most Reverend Paul D. Etienne. Dedicated in December 1907, the beautiful Italian Renaissance-style cathedral is not only a gathering place for the entire Archdiocese of Seattle and the wider Seattle community, it is also the parish home for 2,400 households. The cathedral is noted not only for its beautiful liturgies and its extraordinary music program, but also for its extensive outreach to the poor and needy. To find out more, visit www.stjames-cathedral.org.
About Westbank
Westbank is a leading real estate development practice in North America. Active across Canada, in the United States and in Tokyo, their projects include residential, hotels, retail, workspace, rental, district energy, affordable housing, public art and net zero carbon development. Westbank fundamentally believes that the solutions to our greatest challenges can be found in helping our cities live up to their full potential. They look for every opportunity to help build healthier, more resilient communities, in collaboration with global creative talent. One of the largest net zero carbon developers in the world, they are actively expanding their low-carbon district energy network in cities across North America. Westbank is based in Vancouver, with offices in Toronto, Hong Kong, Seattle, San Jose and Tokyo, and over $50 billion of projects completed or under development. www.westbankcorp.com
About Creative Energy
Creative Energy is one of North America’s largest district energy providers and the owner and operator of one of the largest district energy systems on the continent. Based in Vancouver, they have been supplying low-cost community energy with 99.9% reliability to the city’s downtown core for over 50 years, with a plant connected to a network of over 15 kilometers (9 miles) of pipes, heating over 215 buildings and 45 million square feet of space. Since 2014, Creative Energy has been expanding its network across Canada and the U.S., with a mission to help instigate significant reductions in the greenhouse gas emissions of the cities in which they operate. https://creative.energy
About Swedish Health Services
Founded in 1910, Swedish is one of the largest not-for-profit health care systems in the Greater Seattle area. It is comprised of five hospital campuses (First Hill, Cherry Hill, Ballard, Edmonds and Issaquah); ambulatory care centers in Redmond and Mill Creek; and a network of more than 115 primary care and specialty-care clinics located throughout the Greater Puget Sound area. Swedish is known as a regional referral center, providing specialized treatment in areas such as cardiovascular care, cancer care, neuroscience, orthopedics, high-risk obstetrics, pediatric specialties, organ transplantation and clinical research. In 2020, Swedish provided $258 million in community benefit programs, including $30 million in free and discounted care in Western Washington.
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Richmond PR for Westbank
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Archdiocese of Seattle
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HOUSTON--(BUSINESS WIRE)--Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced that on March 30, 2022, Daniel Jenkins, Director of Investor Relations, and Shelby Keltner, Investor Relations Manager, will participate in one-on-one and group sessions at the US Capital Advisors Midstream Corporate Access Day event.
On April 12, 2022, Michael Ure, President and Chief Executive Officer, and Mr. Jenkins will participate in a group session at the 2022 Wells Fargo Houston Midstream Management Meetings event.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.
For more information about Western Midstream Partners, LP and Western Midstream Flash Feed updates, please visit www.westernmidstream.com.
Kristen Shults
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Daniel Jenkins
Director, Investor Relations
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PARIS--(BUSINESS WIRE)--In a historical milestone for the power industry, GE Renewable Energy’s Grid Solutions (NYSE-GE) unveiled the world’s first 420 kV, 63 kA g³ gas-insulated substation (GIS) circuit-breaker prototype. The g³ circuit-breaker was presented to a group of leading transmission utilities from across Europe, at a recent virtual roundtable event. The performance achieved by the prototype means that the industry will soon have a viable SF6-free alternative for high voltage products. GE’s 420 kV fully g3 gas-insulated substation (GIS), which includes the g3 circuit-breaker, is expected to be commercially available in 2023.
A circuit-breaker is protective equipment that is critical to any substation and mainly used to cut or redirect power through another path if there is a problem on the electrical grid. This new circuit-breaker relies on GE’s game-changing g3 (pronounced “g”-cubed) gas-insulating and switching technology. g3 technology allows GE to build electrical equipment with the same high performance and compact size as traditional SF6 products, along with a gas CO₂e impact reduced by 99%.
“The development of GE’s 420 kV g3 circuit-breaker is a historical milestone for the power industry as it will allow utilities to accelerate the decarbonization of their electrical grids. Until today, there was no viable alternative to SF6 for GIS at the 420 kV level, the highest voltage level in Europe. This means that the g3 technology can also be applied to all existing main voltage levels around the world. We are proud to be at the forefront of the effort to create a cleaner grid and are currently developing other g3 circuit-breaker types, according to our roadmap,” said Vera Silva, Chief Technology Officer at GE’s Grid Solutions.
For the full press release, click here
Allison J. Cohen
GE Renewable Energy, Grid Solutions business
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JACKSONVILLE, Fla.--(BUSINESS WIRE)--$RDW--Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, is supplying solar array technology that will power the newest of PlanetiQ's weather and climate monitoring satellites, GNOMES-3, which is aboard the Transporter 4 launch scheduled to lift off on April 1, 2022 from Cape Canaveral Space Force Station in Florida. GNOMES-3, the third satellite in the GNSS Navigation and Occultation Measurement Satellite series, is designed to collect more than 2,500 radio occultation measurements of Earth's atmosphere each day. Redwire solar arrays also powered the previous satellite in the series, GNOMES-2, which launched in 2021.
GNOMES-3 is part of a 20-satellite constellation that commercial weather satellite operator PlanetiQ plans to have operating in low-Earth orbit by 2024. These satellites are intended to collect high-quality weather, climate and space weather data using radio waves from navigation satellites like those in the GPS, GLONASS and Galileo networks. Data from GNOMES-3 will improve weather forecasting and climate research and allow for closer monitoring of space weather events, such as solar flares and coronal mass ejections, that can seriously affect technology in space and on Earth.
Reliable, durable and effective solar power technology is a key part of operating satellites like GNOMES-3. "The solar arrays Redwire supplied for GNOMES-2 and GNOMES-3 and future radio occultation satellites will lead to improved weather forecasts and climate research," said Tom Campbell, Executive Vice President of Redwire Deployable Solutions. "We are excited to be collaborating with PlanetiQ by powering these important missions and improving life on Earth through innovative space technologies."
The successful launch of GNOMES-3 adds to the growing constellation of weather satellites PlanetiQ is working on. At the same time, work continues toward future GNOMES satellites. Redwire is looking forward to partnering with PlanetiQ on future missions.
The selection of Redwire's solar arrays for the GNOMES project highlights the company's expertise in power generation technologies. Redwire solar arrays, both traditional rigid arrays and flexible solutions like the Roll-Out Solar Array (ROSA), are powering a wide array of spacecraft ranging from weather satellites and the International Space Station to deep space probes.
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.
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ETF invests in producers of government-mandated, strategically vital materials, focusing on minerals and metals deemed in critical or short supply
PERTH, Australia--(BUSINESS WIRE)--Optica Capital, a strategic and innovative financial firm that designs, launches and manages themed indexes, announces the launch of its first exchange-traded fund (ETF), the Rare Earths and Critical Materials ETF (NYSE: CRIT).
Tracking the EQM Rare Earths and Critical Materials Index (CRITNTR), CRIT features many of the minerals and materials deemed by governments worldwide as being critical to their economic and national security. The ETF will give investors access to growth companies that produce these critical materials, including minerals and metals that are essential in many consumer and industrial sectors. These materials are used in the manufacturing of green energy products such as electric vehicles, solar panels and wind turbines; global communications technology, including satellites, smartphones and computers; and national defense tools such as submarines and fighter jets.
“When it came to powering the planet, the 19th century was the century of coal and the 20th century was the century of oil,” said Jerry Hicks, CEO of Optical Capital. “We believe the transition to more environmentally positive measures and the vital input of certain elements means that the 21st century will undoubtedly be the century of green energy, underpinned by rare earths and critical materials. This position is the foundation of the CRIT ETF.”
The Fund is born from a recently updated United States Department of the Interior list identifying certain minerals and metals as critical to the economy, citizen well-being and national security. Optica Capital also examined similar lists from governments in the European Union, Canada and Australia.
Hicks added: “In recent weeks we have seen how vital and fragile commodity supply chains are to countries. For example, due to recent world events, the price of nickel has risen sharply and the strategic supply of rare earths has become a major topic of concern.”
The Fund also highlights the importance of the supply chain process involving rare earths and critical materials that make up some of the world’s most desired products.
“One example is electric vehicles, which have risen in popularity across the globe,” said Derek Bone, chairman of Optica Capital. “We are aiming to highlight the gaps between increasing demand and deepening shortages of the critical supply of minerals and metals like rare earths, copper, lithium and cobalt, which are heavily relied upon in the EV and battery production process. Considering that it usually takes over 10 years from the announcement of discovery to add new minerals and metals into the supply chain, we have an excellent theme for exposure to growth opportunities.”
CRIT is made up of approximately 51 companies that meet standards for the development, production and use of rare earths and critical materials. The Optica team chose companies that align with the rules of the Fund’s passive investment strategy. The Fund seeks to withstand market volatility and to have a long-term presence in portfolios. Additionally, the companies making up the ETF share a common theme of supporting the worldwide “green energy” movement.
“Gen X and millennials are major drivers of the world economy,” said Ross Denford, director of funds management at Optica Capital. “These generations were the first to support in large numbers the theme of ‘going green.’ We identified the trends and volume behind the movement.”
About Optica Capital
Optica Capital is a privately owned company based in Perth, Western Australia, a major location for the production of numerous strategic minerals and materials. Optica’s team, with decades of collective experience in corporate advisory, fund management, banking, mining and business development, works with strategic partners to deliver innovative and tailored investment products for a changing world. Optica has firsthand experience related to the supply of critical minerals and how they will shape the planet’s future. For more information on Optica Capital, please visit www.opticacapital.com.
Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s full or summary prospectus, which may be obtained by visiting www.critetf.com. Read it carefully before investing or sending money.
Risk Disclosures:
Investing involves risk, including possible loss of principal. There is no guarantee the Fund will achieve its stated investment objectives. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.
The Fund’s concentration in an industry/sector or group of industries/sectors will increase the impact of, and potential losses associated with, the risks from investing in that industry/sector or group of industries/sectors. The Fund will be sensitive to, and its performance will depend to a greater extent on, the overall condition of Rare Earth and Critical Materials Companies. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility.
The Fund is non-diversified under the 1940 Act, meaning that, as compared to a diversified fund, it can invest a greater percentage of its assets in securities issued by or representing a small number of issuers. As a result, the performance of these issuers can have a substantial impact on the Fund’s performance. The Fund is new and has limited operating history for investors to evaluate. New and smaller funds may not attract sufficient assets to achieve investment and trading efficiencies.
Exchange Traded Concepts, LLC serves as the investment advisor to the Fund. The Fund is distributed by SEI Investments Distribution Co (SIDCO). SIDCO is not affiliated with Exchange Traded Concepts, LLC, Optica Capital, or any of its affiliates.
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Gregory FCA for Optica Capital
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SAN FRANCISCO & NEW YORK--(BUSINESS WIRE)--Sixth Street, a leading global investment firm with over $60 billion in assets under management, today announced the formation of a dedicated structured products business to further enhance its capabilities as a strategic capital partner and solutions provider at scale.
Sixth Street Structured Products builds upon the firm’s existing expertise and will focus on asset/platform investing and origination across finance markets, including commercial and residential mortgages, renewables and energy finance, consumer asset classes, infrastructure debt, transportation, and commercial equipment.
Michael Dryden, an experienced leader of one of the largest structured finance businesses in financial services, has joined Sixth Street as a Partner to lead the expansion.
“Our thematic investing approach, deep underwriting expertise, and growing insurance capital base will all help drive the expansion of our presence in structured finance markets,” said A. Michael Muscolino, Co-Founder and Partner at Sixth Street. “We have known and greatly respected Mike for a long time, and we are pleased to have someone of his caliber and experience on board to lead this effort.”
Mr. Dryden will be based in New York. Prior to joining Sixth Street, he was global head of securitized products finance at Credit Suisse AG.
“Having worked with the Sixth Street team for many years, I know firsthand their ability to build businesses focused on creating strategic solutions for clients,” said Mr. Dryden. “We look forward to utilizing the deep asset financing and structuring expertise that already exists across the firm to bring new offerings and capabilities to the companies and institutions with which Sixth Street partners.”
The new division complements Sixth Street’s existing strategies dedicated to asset investing, asset-backed lending, direct-to-company financing, and syndicated leveraged loan investing, which have been among the core drivers of the firm’s business since its founding in 2009.
Sixth Street Structured Products will also benefit from the knowledge, resources, and ALM capabilities of Sixth Street’s insurance solutions platform, including its portfolio company Talcott Resolution. Talcott is a strategic risk partner to the insurance industry and, together with its affiliates, manages $113 billion in liabilities and surplus as of December 31, 2021.
About Sixth Street
Founded in 2009, Sixth Street is a global investment firm with over $60 billion in assets under management. The firm uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Sixth Street has more than 350 team members including over 180 investment professionals operating around the world. For more information, visit www.sixthstreet.com or follow us on LinkedIn or Twitter @SixthStreetNews.
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Sixth Street
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Standard Microturbine Products Operate on 30% Hydrogen with No Modifications
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #ArgonneLaboratory--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, announced today that its partnership with the U.S. Department of Energy (DOE) – Argonne National Laboratory and the University of California, Irvine (UCI) has determined that the Company’s microturbine-based systems can safely perform on 30% hydrogen blended with natural gas without requiring costly hardware or software modifications.
The long-term, promising method for producing hydrogen is electrolysis, the process by which hydrogen is split out of water. Electrolysis is one of several approaches to Green Hydrogen that is power generated from carbon-free energy resources such as wind, solar and water. Green hydrogen-fueled microturbines are perfect for complementing the intermittent nature of wind and solar power, making them an ideal component of the modern clean and green microgrid. Further, when wind and solar energy production exceeds demand, excess energy can be used in the production of storable renewable hydrogen energy.
The recent U.S. Government Infrastructure Bill has nearly $10 billion allocated to hydrogen-related areas, which includes $8 billion for Regional Clean Hydrogen Hubs, $1 billion for a Clean Hydrogen Electrolysis Program, and $500 million for Clean Hydrogen Manufacturing and Recycling Initiatives. The U.S. DOE has already begun to move ahead with planning as it relates to the Hubs.
“We have continued to push the limits of our technology in preparation for global acceleration toward a hydrogen economy,” commented Don Ayers, Vice President of Technology. “There is a broad international initiative to decarbonize electricity generation through blending of natural gas with hydrogen in existing pipelines. These tests performed at Argonne and UCI show that our existing fleet of fielded power generation units, unmodified, can handle any of the blends currently being discussed for pipeline injection around the world,” added Mr. Ayers.
“We have systematically tested the current commercial C65 and C200 engines, as designed for operation on natural gas, regarding their tolerance to hydrogen/natural gas blends,” explained Dr. Vince McDonell of University of California, Irvine. “The results indicate no deleterious effects when operating either turbine on up to 30% hydrogen by volume, including only slight increases in emissions, but well within current design specifications. The results also indicate a direction for attaining further NOx reductions when burning 100% hydrogen by exploiting the inherent flame stability of hydrogen,” added Dr. McDonell.
In addition to testing on 30% hydrogen, Argonne Laboratory has also been running a Capstone C65 microturbine on 100% hydrogen, utilizing Capstone’s patented High Flame Speed injector design. Results have been very positive, with high combustion stability, demonstrated injector integrity, and elimination of carbon emissions. Looking forward, Capstone’s research and development activities will transition this design and controls to the C200, fine-tuning for optimum performance and emissions, and in support of pilot hydrogen installations.
“The recent experiments at Argonne with pure hydrogen in a Capstone microturbine-based system showcases technology operability and readiness,” said Muni Biruduganti, Principal Research Engineer at Argonne National Labs. “We tested the new Capstone High Flame Speed Injectors during transient and start-stop operations. Hydrogen-fueled microturbines are one step closer to global prime-time use.”
“Hydrogen technologies are an important pillar in the strategic initiatives we announced when Capstone Green Energy was launched on Earth Day 2021,” stated Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “The success of our hydrogen products in testing will be a key element in the partnerships that we are developing with hydrogen generation companies, such as our strategic relationship with PowerTap. The ability to generate clean electricity at the source of generation saves millions of dollars in infrastructure costs and keeps hydrogen costs to a minimum.”
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three full fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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Emerson Thermostats to Increase Sustainability and Reliability in Itron’s Bring Your Own Device and Direct Install DR and DER Programs
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#DER--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, is collaborating with Emerson, a global technology and engineering leader, to offer reliable thermostats as part of Itron’s Bring Your Own Device (BYOD), direct install demand response (DR) and distributed energy resource (DER) programs. With thermostats controlling about 50% of a home’s energy usage*, offering Emerson’s Sensi™ smart thermostat and Sensi™ Touch smart thermostats as part of any utility’s energy management portfolio gives consumers more control and visibility into their energy usage and allows utilities to improve grid reliability and sustainability. They also provide a means for cost-effective, customer-focused incentive programs that manages air conditioning or heating load throughout a service territory.
Itron’s newly developed DER Optimizer solution, which is powered by its industry-leading demand response platform, IntelliSOURCE®, will be fully integrated to provide direct control and management of Emerson’s Sensi thermostats for BYOD and direct install programs. BYOD solutions give utilities the ability to easily include retail Wi-Fi thermostats and other third-party devices in new or existing DR, DER and energy efficiency programs. As part of a BYOD program, consumers who purchase an Emerson Sensi smart thermostat or Sensi Touch smart thermostat through retail outlets can seamlessly connect the device to their Wi-Fi. With the direct install model, utility companies have the option to install Emerson smart thermostats for participating customers, while the utility retains ownership of the thermostat in the consumer home.
Emerson’s smart thermostats, when used in conjunction with Itron’s DER Optimizer solution, give consumers control over their energy usage through the Sensi app or through the utility’s mobile app and provides utilities with a flexible resource to achieve their program goals.
“We are excited to have Emerson’s Sensi thermostats join our ecosystem of third-party devices for Itron’s BYOD and direct install DR programs. The programs not only give utilities the opportunity to better engage with their customers, but also allow utilities to maintain supply and demand, and ensure grid reliability,” said Don Reeves, senior vice president of Outcomes at Itron. “Sensi smart thermostats are a great addition to our DR programs, featuring easy installation and intuitive controls compatible with other home automation systems.”
“Our advanced technologies make it possible for consumers to create their ideal home environment and lower their energy footprint,” said Craig Rossman, president of comfort control at Emerson. “In collaboration with Itron, which is dedicated to creating a more resourceful world, we are able to enhance demand response programs with the latest smart thermostat technology to help improve grid reliability and sustainability.”
Itron’s Distributed Energy Management (DEM) group is a leading provider of utility technologies and services, with 25 active DR/DER programs controlling over 2 million behind-the-meter devices.
To learn more about Itron’s programs, visit https://www.itron.com/solutions/what-we-enable/dem.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
* Source: “Use of energy explained: Energy use in homes” U.S. Energy information Administration 2015
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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PITTSBURGH--(BUSINESS WIRE)--“Precipice: The Left’s Campaign to Destroy America,” by CNX Resources Corp. (NYSE: CNX) President and CEO Nick Deiuliis, is now available. Order at Amazon, Barnes & Noble, and IndieBound.
Few people understand the precipice on which America now finds itself better than Nick Deiuliis. The CEO of one of America’s leading natural gas producers, Deiuliis is a proud capitalist, free enterprise advocate, supporter of individual rights, and lifelong Pittsburgher.
In “Precipice,” the author examines the perilous state of American society as the country faces countless economic, social and geopolitical threats. “Something has flipped in our society over the past few years; we’ve reached an inflection point,” Deiuliis writes in the book’s introduction.
“After examining a number of independent data points—from government spending to healthcare and from the legal system to academia and beyond—you begin to see how they’re intertwined,” Deiuliis said. “When examined collectively, as done in ‘Precipice,’ you then see how the scales are shifting from value creators to value appropriators, and how we’re approaching a tipping point, the precipice.”
Deiuliis is an outspoken advocate for the middle class and working families. All his proceeds from book sales will go to CNX Foundation to support urban and rural youth from economically disadvantaged communities.
Deiuliis opens “Precipice” by breaking down society’s composition, where on one side are Creators, Enablers, and Servers, toiling in free enterprise. On the other side is a fourth class—Leeches—which exist primarily to take and redistribute the value of others.
“Government bureaucracy may hold the largest contingent of Leeches in society, but it is far from alone,” Deiuliis writes. He also explains how certain professions (such as the law, media, and academia) and America’s urban centers have fallen victim to the Leech. Deiuliis also profiles the growing power of the Federal Reserve, the weakening of America’s STEM prowess, and more.
“‘Precipice’ will hopefully be a catalyst for constructive public discourse and informed debate to protect the American dream for future generations,” Deiuliis said.
Visit nickdeiuliis.com/precipice to order and for additional book background; including individual chapters available for online reading and author-narrated podcasts that further examine each chapter’s topics. For daily insights and commentary from Nick Deiuliis, follow him on Twitter at @NickDeiuliis.
Scott Staruch, This email address is being protected from spambots. You need JavaScript enabled to view it., 717.213.4955
Bird’s e-Scooter Expansions Come as Cities Experience Upticks in Tourism and Commuter Traffic
NEW YORK--(BUSINESS WIRE)--Bird Global, Inc. (NYSE:BRDS), a leader in environmentally friendly electric transportation, today announced the company received approval to double its shared e-scooter fleet size in New York City. Bird today also announced it will scale its e-mobility service in Washington, D.C. by more than 20%.
The expansion announcement comes as daily average ridership of Bird e-scooters in New York City increased by nearly 70% in March compared to February and as NYC DOT plans to move into Phase II of its e-scooter pilot. Phase II will double the program’s footprint in the Bronx to serve an increased number of residents and visitors.
“This administration is committed to reducing our dependency on automobiles and more equitably delivering services across the five boroughs,” said Commissioner Ydanis Rodriguez. “Our e-scooter pilot in the Bronx has been a remarkable success and we’re excited to bring it to even more residents in need of alternate forms of transportation.”
“Ridership in the Bronx has been incredible, demonstrating the very real and complementary benefits that micro-electric transportation can bring both to residents and established transit services in New York City,” said Renaud Fages, Chief Mobility Officer at Bird. “We commend the NYC DOT for expanding the availability of e-scooters into more neighborhoods, and we look forward to continuing our work with them to ensure the program has a positive impact on all New Yorkers.”
Bird also announced it secured approval to scale its e-scooter fleet in Washington, D.C., by more than 20% to provide residents and visitors with an eco-friendly personal transportation option. With the price of gas in D.C. recently reaching an all-time high, Bird has seen daily average ridership in Washington, D.C., increase nearly 48% in March compared to February.
As gas prices soar, commuters are increasingly returning to the office and taking related trips – many of which can be served by cleaner transportation alternatives. At the same time, easing COVID restrictions are allowing for more business and leisure trips. Spring travel is in full effect, with many opting to visit tourist destinations in New York City and the nation’s capital.
About Bird
Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird is rapidly expanding. Today, it provides fleets of shared micro electric vehicles to riders in more than 400 cities globally and makes its products available for purchase at www.bird.co and via leading retailers and distribution partners. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.
Investor
Caitlin Churchill
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Media
Rebecca Hahn
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DALLAS & STAMFORD, Conn.--(BUSINESS WIRE)--Trammell Crow Company (TCC), the nation’s largest commercial real estate developer, and Altus Power, Inc. (NYSE: AMPS), a leading clean electrification company, today announced a strategic partnership to bring Altus Power’s clean electrification solutions to TCC’s real estate development projects.
Under the terms of this multi-year strategic partnership, TCC will engage Altus Power to bring solar power generation, battery storage and electric-vehicle charging to its development portfolio.
The initial focus will be 35 million sq. ft. of U.S. industrial assets in TCC’s development pipeline. This partnership is expected to generate 300 MW of building-sited, locally generated solar power across the United States over the next three to four years, with battery storage capacity and electric-vehicle charging. TCC and Altus Power plan to expand the partnership to include other assets in the future.
“Our partnership with Altus Power will greatly accelerate the integration of clean energy into our properties and we expect it to meaningfully reduce our carbon footprint,” said Mike Lafitte, CEO of TCC. “This partnership is directly responsive to our capital partners and occupier clients who expect us to deliver sustainably built real estate.”
“We are excited about this first-of-its-kind partnership to bring clean electrification to the nation’s largest commercial real estate development platform,” said Lars Norell, Co-CEO of Altus Power. “This partnership underscores the significant opportunity that is available in the commercial and industrial solar market, and we look forward to working with other real estate owners, developers and occupiers to accelerate their transition to a lower carbon footprint.”
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is the nation’s largest commercial real estate developer. The Company has developed or acquired 2,800 buildings valued at nearly $70 billion and over 625 million square feet. As of December 31, 2021, TCC had $18.5 billion of projects in process and $9.3 billion in its pipeline. It employs more than 675 professionals in the United States and Europe.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, and the world’s largest commercial real estate services and investment firm (based on 2021 revenue). For more information visit www.TrammellCrow.com.
About Altus Power
Altus Power, based in Stamford, Connecticut, is the nation's premier clean electrification company. Altus Power serves its commercial, industrial, public sector and community solar customers by developing, owning and operating locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit altuspower.com to learn more.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to Altus Power’s future prospects, developments and business strategies. These statements are based on Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the ability of Altus Power to maintain its listing on the New York Stock Exchange; (2) the ability to recognize the anticipated benefits of the recently completed business combination and related transactions (the “Transactions”), which may be affected by, among other things, competition, the ability of Altus Power to grow and manage growth profitably, maintain relationships with customers, business partners, suppliers and agents and retain its management and key employees; (3) costs related to the Transactions; (4) changes in applicable laws or regulations; (5) the possibility that Altus Power may be adversely affected by other economic, business, regulatory and/or competitive factors; (6) the impact of COVID-19 on Altus Power’s business; and (7) the failure to realize anticipated pro forma results and underlying assumptions related to the Transactions.
Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 24, 2022, as well as the other information we file with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
Trammell Crow Contacts
For Media:
Cynthia Langhorst
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Altus Power Contacts
For Media:
Cory Ziskind
ICR, Inc.
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For Investors:
Chris Shelton, Head of IR
Caldwell Bailey, ICR, Inc.
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BELOIT, Wis.--(BUSINESS WIRE)--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has promoted Jamie McMullin to President of Services. With an extensive background in marine, naval, aerospace, and defense industries, McMullin will oversee the integration of new services offered by the defense contractor’s recently acquired companies throughout the company’s extensive service network, as well as the deployment of cutting-edge technology to enhance monitoring and maintenance capabilities that help extend asset lifecycles and reduce through-life costs.
In his previous role as Vice President of Business Development and Strategy, McMullin was pivotal in the strategic growth of FMD’s service solutions through acquiring seven companies over the past two years and opening new service and training centers. He also oversaw the successful launch of FM Onboard™. This proprietary mixed reality technology provides users with 24/7 live remote technical support and the ability to access 3D visualizations of ship assets through a mixed reality headset for monitoring and maintenance. FMD is the only naval defense turnkey solutions provider to offer this remote collaboration tool.
McMullin will now focus his attention on integrating the defense contractor’s new services and technology throughout a network that includes six strategically located service centers and approximately 150 field technicians – one of the largest field service crews in the nation. He will also work with FMD to continually expand the company’s offerings in areas such as obsolescence, emissions, and reducing through-life costs.
“Jamie is truly defining what it means for FMD to be a defense contractor of the first rank. He understands the finely tuned balance between service costs and speed of delivery and has already made a huge impact in our ability to provide turnkey service solutions,” said George Whittier, FMD CEO. “I am confident in Jamie’s ability to continue adding and integrating new service solutions that will serve our core customers as they maintain or expand current marine defense programs and launch new ones.”
Before joining FMD in 2021, McMullin served as the Senior Director of Naval Power Systems for Leonardo DRS, a defense contractor specializing in naval power and propulsion systems, transportation and logistics systems, and platform integration expertise. McMullin also spent nearly two decades with Rolls-Royce, ending his tenure as Vice President of naval campaigns and business development.
McMullin holds a master’s degree in Aeronautical Engineering from the University of Bristol in the U.K. and a Master of Business Administration from the Boston College - Carroll School of Management. McMullin serves as a mentor and judge for Boston-founded MassChallenge, a multinational non-profit organization whose mission is to support innovation and entrepreneurship through collaboration and development. The organization works to accelerate startups with high potential for widespread impact across business, industry, and economic growth.
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
A photo of Jamie McMullin is accessible HERE.
Fairbanks Morse Media Contact:
Mercom Communications
Michelle Hargis
Tel: 512-215-4452
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Indianapolis-based accelerator to scale advanced materials and chemistry startups
INDIANAPOLIS--(BUSINESS WIRE)--The Heritage Group (THG) Accelerator announced the opening of applications for its fourth cohort of early stage, hardtech startups. The immersive, 13-week program includes mentorship, collaboration, and research and development assistance for selected startup companies at The Center, THG’s innovation hub in Indianapolis. THG is a family of companies focused on environmental services, specialty chemicals, advanced materials, and transportation infrastructure.
Along with workshops including customer discovery, financial modeling, prototype development, and storytelling, the participants will receive mentorship. This comprises over 50 subject matter experts in scaling businesses, SaaS entrepreneurship, manufacturing, sales, marketing and beyond. The Accelerator allows startup founders to take advantage of on-site lab resources, thought partnership from experts on experiments, site and customer assessments, and a chance to bid for pilot projects.
“It’s a privilege to work with so many founders who are solving key issues in critical industries for which The Heritage Group has deep expertise and experience,” said Managing Director, Nida Ansari. “We understand their businesses and industries, and we have the resources and expertise to help them scale quickly and take critical steps to become investable companies.”
Since its launch in 2019, the Accelerator has produced powerful and lasting impacts in the Indiana entrepreneurial ecosystem. Over 25 pilot projects have been completed and Accelerator companies have raised more than $25MM in subsequent capital funding (with HG Ventures, the corporate venture arm of THG, participating in multiple raises). In addition, five startups have moved from other locations to establish Indiana-based headquarters, and several more have key advisors and board members based in the state. The 29 previous participants hail from six different countries and all regions of the United States, while more than 50% have founders from underrepresented groups.
THG Accelerator program starts on August 15th and will conclude with a Demo Day on November 15th. THG’s Accelerator is currently accepting applications for its 2022 cohort at www.hgaccelerator.com. The deadline to apply is May 6, 2022.
About HG Ventures
HG Ventures is the corporate venture arm of The Heritage Group, headquartered in Indianapolis, Ind. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with innovative, high-growth companies to support a sustainable future. We leverage the world-class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners. www.hgventures.com.
About The Heritage Group
Founded in 1930, The Heritage Group (THG) is a fourth-generation, family-owned business managing a diverse portfolio of companies specializing in heavy construction and materials, environmental services, and specialty chemicals. Companies within the THG portfolio include Heritage Environmental Services, Heritage Construction + Materials, and Monument Chemical. With more than 5,000 employees and 30 operating companies worldwide, THG aims to build a safer, more enriching and sustainable world by harnessing the power of family.
Regan Keller
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LEMONT, Ill.--(BUSINESS WIRE)--To maximize its contributions to the nation in attaining a range of urgent goals — from achieving a net-zero greenhouse gas emissions economy to increasing the resilience of infrastructure systems to impacts from climate change and other threats — the U.S. Department of Energy’s (DOE) Argonne National Laboratory has created two new applied science and technology research organizations.
The Nuclear Technologies and National Security (NTNS) directorate, led by Associate Laboratory Director Kirsten Laurin-Kovitz, Ph.D., supports energy system decarbonization through safe deployment of advanced nuclear energy systems with an emphasis on nonproliferation. NTNS is also focused on enhancing critical infrastructure resilience and adaptation to natural hazards and man-made disruptions and addressing chemical, biological, radiological, and nuclear threats.
Under Laurin-Kovitz’s leadership, NTNS will support development of next-generation nuclear reactors and fuel cycles; expand analyses of infrastructure risk, resilience, intelligence, and vulnerability; and provide robust emergency and disaster preparedness and response.
“Argonne’s long-standing, world leading expertise in nuclear energy, coupled with our unique, first-in-class capabilities in nonproliferation and infrastructure science, enable us to deliver innovative, objective science- and engineering-based solutions and inform decisions for a secure and resilient global society,” Laurin-Kovitz said.
The Advanced Energy Technologies (AET) directorate, led by Associate Laboratory Director Suresh Sunderrajan, Ph.D., focuses on decarbonizing the energy system by solving challenges related to renewable energy generation, storage, and distribution; applications such as transportation and buildings; and the development and manufacturing of advanced energy materials.
Sunderrajan will lead AET in working with DOE’s newly created Undersecretary for Infrastructure Office, and the Undersecretary for Science and Innovation Office. Efforts will include developing and deploying low-carbon energy carriers for hard-to-decarbonize areas in transportation and industry; enabling sustainable domestic manufacturing of energy materials; and advancing a decarbonized transportation system.
“Decarbonization of the energy system requires fresh thinking on science and systems as well as commercial technology that does not yet exist,” Sunderrajan said. “We will help enable a sustainable, secure, equitable and prosperous future by focusing on the most pressing energy, mobility, materials and manufacturing challenges.”
“For more than 75 years, the nation has relied on Argonne for broad and deep expertise, enduring scientific leadership, and holistic approaches to address complex challenges,” said Laboratory Director Paul Kearns. “This additional emphasis on applied science and technology will increase our impact, unlocking new frontiers in key areas from decarbonization to clean energy to national security.”
Christopher J. Kramer
Head of Media Relations
Argonne National Laboratory
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Office: 630.252.5580
Enviva expands partnership with nation’s largest HBCU and offers financial support to North Carolina undergraduate students residing in a county where Enviva operates
BETHESDA, Md.--(BUSINESS WIRE)--#AggiesDo--Enviva Inc. (NYSE: EVA) (“Enviva”), the world’s largest producer of sustainable bioenergy, announces the establishment of the Enviva Endowed Scholarship at North Carolina Agricultural & Technical State University (N.C. A&T), the nation’s largest historically Black university. Today, Enviva announced its formal commitment of $250,000, funded over a five-year period, to provide an endowment for merit-based scholarships and to support a more diversified workforce within forestry, agribusiness, agriscience, natural resources, technology, and conservation fields.
“We are proud to be a corporate leader and community partner in North Carolina and believe we have a responsibility to create pathways for the state’s best and brightest to attend this great university,” said John Keppler, Chairman and CEO of Enviva. “Solving climate change and delivering a lower-carbon economy depends on the critical thinking, creativity, and innovation of our future leaders educated at spectacular institutions like N.C. A&T. We are proud to support opportunities for students from the communities in North Carolina that we call home to join, grow, and excel at this great university through the endowment of today’s scholarship.”
Under the terms of the agreement, the Enviva Endowed Scholarship at N.C. A&T will provide financial assistance to students pursuing any discipline within the College of Agriculture and Environmental Sciences, and will be open to all applicants. All recipients holding the Enviva Endowed Scholarship in one year shall be automatically renewed throughout their matriculation as long as the students maintain the minimum required academic and geographical standards outlined below.
"The Enviva Endowed Scholarship will be uniquely impactful for our students since it's available to all majors in any of our programs," said Dr. Mohamed Ahmedna, Dean of the College of Agriculture and Environmental Sciences. "We deeply appreciate Enviva's significant and forward-looking investment in our college and its commitment to workforce diversity."
A university committee appointed by the Office of Financial Aid and Scholarships shall choose the recipients of the Enviva Endowed Scholarship. In order to apply, applicants must be an undergraduate with a 3.0 grade point average or higher and be a resident of one of the following North Carolina counties: Hertford County, Richmond County, Northampton County, Sampson County, New Hanover County, or Wake County, and Raleigh-Durham/Chapel Hill, North Carolina metro areas.
“North Carolina has been our operational home base for 10 years now, and we are proud to maintain and grow our strong corporate presence in the Tar Heel State. We believe in home grown talent, and that leads us to intentionally cultivate and hire the future of the agribusiness and sustainability workforce from America’s largest HBCU, N.C. A&T,” said Don Calloway, Vice President of Diversity, Equity, Inclusion, and Impact at Enviva. “N.C. A&T has a proud tradition of graduating leading minds in manufacturing and sustainable agriculture. This endowment reflects our commitment to creating opportunities for more students to access the world class education that N.C. A&T provides and to prepare them to tackle climate change, one of the most critical and existential challenges of our time.”
This announcement comes shortly after Enviva announced its multi-year recruiting and career development pipeline agreement in December 2021. Per the agreement, Enviva has partnered with four significant Historically Black Colleges and Universities (HBCUs) across the U.S. Southeast, to better identify, recruit, and hire new employees for its rapidly growing business. These new partnerships and scholarship(s) reinforce Enviva’s existing commitment to facilitate careers in renewable energy and sustainable forestry for African Americans across the U.S. South.
About Enviva
Enviva (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source that is produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan. Enviva owns and operates 10 plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, Enviva exports wood pellets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
North Carolina A&T State University
North Carolina Agricultural and Technical State University is the nation’s largest historically Black university, ranked number one among public HBCUs by U.S. News & World Report. It is a land-grant, doctoral high-research classified university by the Carnegie Foundation and constituent member of the University of North Carolina system. The College of Agriculture and Environmental Sciences is the largest such college among 1890s land-grant universities and a leader in extramural research funding. The university was founded in 1891 and is located in Greensboro, North Carolina.
Jacob Westfall
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City of Bristol selects Ameresco and subcontractor Vattenfall Heat UK, for large multi-pronged approach to build the city’s future smart energy system
FRAMINGHAM, Mass. & BRISTOL, England--(BUSINESS WIRE)--#bristolcityleap--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that its subsidiary, Ameresco Ltd., has been selected as a partner in the Bristol City Leap project, a 20-year concession to decarbonize the city. In partnership with numerous City of Bristol stakeholders, Ameresco, in collaboration with Vattenfall Heat UK, will work through a unique public private partnership structure to provide services including energy efficiency upgrades, wind and solar services, project financing, long-term operation and maintenance and more. The Bristol City Leap project is intended to operate over a 20-year term, targeting net zero goals through a series of energy and infrastructure investment opportunities, attracting approximately £1 billion of inward investment.
The project will span the 34 ward areas that make up the City of Bristol. Services will address all sectors of the built environment, including public sector facilities like hospitals, universities, and schools, as well as industrial, commercial and residential buildings throughout the Bristol community. The City Leap program is designed to enable Bristol to experience lower energy costs, cleaner air, improved energy infrastructure and a boost to the local economy through the city-wide decarbonization effort.
Councillor Craig Cheney, Deputy Mayor with responsibility for Finance, Governance and Performance said: “City Leap means large investment in Bristol’s energy systems and our ambitious carbon targets. We are creating a long-term partnership on a scale that will bring investment into the much-needed decarbonization of our energy system.”
“City Leap will have a real impact for Bristol residents including the way people move around the city and the ways that we power and heat our homes. It will help us to move much more quickly towards carbon neutrality, creating a cleaner, greener and healthier city that is truly fit for the future. With City Leap, Bristol will become a focal point for new low carbon technologies and smart energy systems whilst creating thousands of jobs and ensuring a just transition. I’m pleased to see a potential partner that shares our vision for a better, zero-carbon Bristol.”
Ameresco, in partnership with Vattenfall, will work with energy groups, city stakeholders and local Bristol businesses to install a full range of technologies aimed at optimizing city-wide electrical infrastructure. Over the first five years of the partnership, the project is expected to deliver c140,000 tonnes of carbon savings, and c182MW of zero-carbon energy generation. Additionally, the partnership is expected to deliver a wealth of social and economic benefits for the residents and businesses of Bristol, including c£61m of estimated social value, c£55m of contracts to be delivered by local suppliers including an increase in local jobs, apprenticeships and work placements. The development and implementation of ongoing low-carbon, energy resilient investments will help Bristol reach its carbon neutrality goals.
“Our team is thrilled to be a part of such an incredible initiative taken by the City of Bristol that will hopefully open the eyes of neighboring areas to the possibilities that exist within city-wide decarbonization projects,” said Britta MacIntosh, Senior Vice President of Ameresco. “The announcement of the Bristol City Leap project is the first time that a UK city has embarked on such a comprehensive, transformative plan to decarbonize an entire city’s energy system by 2030. We applaud their leadership, innovation and steadfast focus on this plan.”
Mike Reynolds, Managing Director of Vattenfall Heat UK said, “We are very excited to be able to build upon the strong foundations established by Bristol City Council in getting the first district heating networks installed in Bristol. We have big plans to roll out the heat network quickly and at scale to serve the people of Bristol with reliable, affordable low carbon heat. Our partnership with Ameresco means we are able to apply the right technology in the right area of the city—bringing district heating to where it is best suited, as well as individual heat pumps where they are more cost-effective.”
The final award is subject to approval by the City of Bristol Mayor and Cabinet, which is expected on April 5, 2022. To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Vattenfall Heat UK
Vattenfall Heat UK delivers on low-carbon heating, cooling and power solutions through a commitment to enable fossil free living within one generation. We're an energy partner at the forefront of affordable and reliable low-carbon heating in the UK. The growth of our district heating business is accelerating in line with our purpose of powering climate smarter living. Vattenfall Heat UK is part of the wider Vattenfall Group, one of Europe’s largest producers and retailers of electricity and heat with approximately 20,000 employees.
heat.vattenfall.co.uk
www.vattenfall.com/uk
About Bristol City Leap
City Leap is a long-term (20 year) partnership between the Council and a private sector organization to accelerate green energy investment in Bristol and help the council achieve its net zero carbon ambitions. City Leap’s projects and investments will have an impact on many aspects of life for Bristol residents including the way people move around the city (e.g. EV charging points) and the way we power and heat our homes (e.g. mass roll out of solar panels, expanding the city’s heat network and decarbonizing our social housing stock). Our partner will bring investment into the city to deploy solutions which are (or become) commercially viable and deliver significant social value for Bristol’s communities. For initiatives which require government funding, City Leap will demonstrate the ability to move at pace, making Bristol a natural partner to government and an example for other cities and regions to follow.
For the citizens of Bristol, City Leap has the potential to deliver a better quality of life by improving the warmth and comfort of homes, improving air quality and creating thousands of jobs in energy and related supply chains. For investors and partners, City Leap will offer a competitive return on investments, the chance to create and test new energy propositions and business models which are replicable at a national and international scale. Like all cities Bristol’s energy system is set to undergo a transformation. City Leap has the potential to facilitate this change by use of real time data, investment in energy storage and distributed energy generation to create a genuinely smart energy system for Bristol. The council has delivered over £92m worth of low-carbon projects in the last five years and City Leap takes this learning to date, leveraging our expertise to create a much larger and more ambitious program.
Forward Looking Statements
Any statements in this press release about future expectations, plans and prospects for Ameresco, Inc., including statements about the future award of and metrics for the Bristol City Leap project and other statements containing the words “projects,” “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward looking statements as a result of various important factors, including whether the Bristol City Leap project is finally awarded to Ameresco and whether Ameresco can reach agreement governing the project on favorable terms (or at all) and other factors discussed in our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the U.S. Securities and Exchange Commission (SEC) on March 1, 2022. The forward-looking statements included herein represent our views as of the date hereof. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.
The award was received after December 31, 2021, but this award is not expected to have a material impact to Ameresco’s financial results for the fiscal year ending December 31, 2022. Ameresco is evaluating the expected effect of the agreement on its future financial results and will provide an update on impact of this program as it is contracted over the coming years.
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DALLAS & LANGFANG, China--(BUSINESS WIRE)--Energy Transfer LP (NYSE: ET), ENN Natural Gas (ENN NG 600803.SH) and ENN Energy Holdings Limited (ENN Energy 2688.HK) today announced that ENN NG and ENN Energy have entered into LNG Sale and Purchase Agreements with Energy Transfer LNG Export, LLC (ET LNG), a subsidiary of Energy Transfer LP, related to its Lake Charles LNG project.
Under the two SPAs, ET LNG is expected to supply 1.8 million tonnes of LNG to ENN NG, and 0.9 million tonnes of LNG to ENN Energy, per annum on a free-on-board (FOB) basis. The purchase price is indexed to the Henry Hub benchmark plus a fixed liquefaction charge. Both SPAs are for a term of 20 years, and first deliveries are expected to commence as early as 2026. The SPAs will become fully effective upon the satisfaction of the conditions precedent by ET LNG, including reaching FID.
“The signing of these long-term SPAs will further enrich ENN’s LNG resources, expand resource supply channels, and improve ENN’s natural gas supply capacity to meet the rapidly growing natural gas demand in the domestic market,” said Zheng Hongtao, President of ENN NG and Vice Chairman of the Board of Directors of ENN Energy Holdings. “It also provides our customers with better resources and services, ensures natural gas supply nationwide, and contributes to the low-carbon transformation of energy structure.”
“We are very pleased to have ENN as a customer. The execution of these two SPAs represents a significant event in moving the Lake Charles LNG project towards FID. We are experiencing strong demand for long-term offtake contracts for Lake Charles LNG and we are optimistic that we will be in a position to take a positive FID by year end,” said Tom Mason, President of ET LNG. “The Lake Charles LNG project is expected to be financed primarily through infrastructure funds and strategic partners, with Lake Charles LNG retaining an equity stake and operatorship of the liquefaction facility.”
Energy Transfer is one of the largest and most diversified midstream energy companies in North America, with a strategic footprint in all of the major U.S. production basins. The core operations include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. The company owns and operates approximately 120,000 miles of pipelines and associated energy infrastructure across 41 states transporting approximately 30% of the United States’ oil and natural gas.
Lake Charles LNG will be constructed on the existing brownfield regasification facility and will capitalize on four existing LNG storage tanks, two deep water berths and other LNG infrastructure. Lake Charles LNG will also benefit from its direct connection to Energy Transfer’s existing Trunkline pipeline system that in turn provides connections to multiple intrastate and interstate pipelines. These pipelines allow access to multiple natural gas producing basins, including the Haynesville, the Permian and the Marcellus Shale.
ENN NG has an annual LNG distribution capacity of over 10 bcm and runs the first large-scale private LNG terminal in China -- Zhoushan LNG Terminal. Its business layout covers the entire natural gas value chain, including distribution, trading, storage and transportation, and production and engineering.
Relying on industry best practices, ENN NG has built an intelligent operation platform for the natural gas industry – GreatGas.cn, which accelerates the aggregation of demand, resources, reserves, and delivery ecology of the natural gas industry. It also innovates and develops digital intelligence services, and promotes the digital intelligence upgrade of the natural gas industry. In 2021, ENN NG’s total natural gas sales volume was 37.2 bcm, accounting for approximately 10% of China’s total natural gas consumption.
About Energy Transfer
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at energytransfer.com.
About ENN Natural Gas
As one of the largest independent energy companies in China, ENN Natural Gas’s business layout covers the full natural gas value chain, from downstream distribution, to midstream transportation and storage, and upstream production and procurement. As of 31 December 2021, through its subsidiary, ENN Energy Holdings Limited, one of the largest natural gas distributors in China, ENN Natural Gas owns 252 city-gas projects in China, serving a population of 124 million. ENN Natural Gas owns and operates Zhoushan LNG Terminal in Zhejiang Province, China. During 2021, ENN Natural Gas’s total natural gas sales volume was 37.2 bcm, accounting for about 10% of China’s total consumption.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
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MACON, Ga.--(BUSINESS WIRE)--Blue Bird Corporation (Nasdaq: BLBD), the leader in electric and low-emission school buses, has received the single largest order of electric school buses from a school district in its history. Modesto City Schools in California purchased 30 zero-emission school buses. The order enables the school district to rapidly convert nearly 50% of its diesel-powered bus fleet to clean energy. Thereby, Modesto City Schools will considerably reduce harmful greenhouse gas emissions while improving community health.
Modesto City Schools will benefit from significant cost saving opportunities by reducing or eliminating the fuel and maintenance costs tied to traditional diesel-powered vehicles. Select Blue Bird customers reported fuel costs of up to 49 cents per mile for their diesel buses, compared to an average 14 cents per mile in energy costs for electric buses. Modesto City Schools anticipates saving more than $250,000 a year in fuel costs alone by converting nearly half of its diesel-powered fleet to electric vehicles.
“The price of diesel fuel continues to skyrocket. Our Sustainability projects are designed to address climate change, reduce air pollution, and lead the next generation of students in learning about a Sustainable lifestyle with renewable energy, carbon reduction, and clean mobility options,” said Tim Zearley, Associate Superintendent of Business Services, Modesto City Schools. “I’m proud that Modesto City Schools is leading the way in Public Education Sustainability Initiatives in Stanislaus County.”
“Blue Bird is recognized as a technology leader and innovator of low- and zero-emission school buses in North America,” said Matthew Stevenson, president and CEO, Blue Bird Corporation. “We are pleased to help Modesto City Schools turn its vision of clean and sustainable school bus transportation into reality. Soon, nearly 30,000 school children in California’s Central Valley will enjoy emission-free transportation and cleaner communities.”
Modesto City Schools purchased Blue Bird All American Type D electric school buses. The district anticipates delivery of the zero-emission vehicles in the fourth quarter 2022. Blue Bird electric buses can carry a maximum of 84 passengers for up to 120 miles on a single charge. They take between three and eight hours to fully recharge depending on the charging infrastructure.
Blue Bird’s electric school buses were partially funded by California’s Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). The California Air Resources Board (CARB) launched the program in 2009. HVIP is administered by CALSTART, a national clean transportation nonprofit consortium.
About Blue Bird Corporation
Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. Blue Bird buses carry the most precious cargo in the world – the majority of 25 million children twice a day – making us the most trusted brand in the industry. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com. For Blue Bird's line of emission-free electric buses, visit www.bluebirdelectricbus.com.
Julianne Barclay
TSN Communications
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