DUBLIN--(BUSINESS WIRE)--#DNV--Gazelle Wind Power has received statement of feasibility from leading, independent classification society DNV for its patented, breakthrough hybrid floating wind platform with a first-of its kind mobile mooring system.
Gazelle's unique concept is the first and only offshore floating wind system of its kind to be verified by DNV. Its system combines the best features of tension-leg and semi-submersible platforms while eliminating most of the drawbacks, enabling wind farms to be placed in deep waters as far out as 400 meters. Lighter than conventional platforms, it uses approximately 70% less steel and is one-third the weight of other floating platforms. It delivers 70% less horizontal movement than semi-submersible platforms, and has a tilt of less than 1 degree, and has 80% less mooring tension load than tension leg platforms. The Gazelle platform is more compact and simpler to build, deploy, and maintain than other floating platforms, which translates to dramatically lower levelized cost of energy (LCOE).
“Achieving DNV verification of our disruptive platform is a major milestone that validates the 12 years of research and innovation that has gone into this technology,” said Jon Salazar, founder and president of Gazelle Wind Power. “Our system, and technologies like it, will be key in global decarbonisation goals and will have a significant impact on the growth of the floating offshore wind market.”
The floating offshore wind market is projected to reach 250GW by 2050, according to DNV. Based in Norway, DNV is a global independent classification, assurance and risk management provider, it is one of the world’s leading certification bodies, helping businesses assure the performance of their organisations, products, people, facilities and supply chains.
“Gazelle’s innovative mooring system is a completely new concept,” said Claudio Bittencourt Ferreira, business development director at DNV. “Achieving the Statement of Feasibility as part of the concept assessment defined in DNVGL-SE-0422 is a confirmation that Gazelle has demonstrated technical feasibility of the technology to deliver its targets in line with the requirements of our service specification that was developed to enable innovation in the marine renewables market.”
Gazelle is supported by an elite group of energy industry veterans on its board of directors, including leading global policymakers, government officials, engineers, and CEOs.
About Gazelle Wind Power
Gazelle Wind Power Limited is unlocking the massive deep-water offshore wind market to achieve global decarbonisation. The company’s durable, disruptive hybrid floating platform with a high stability attenuated pitch surmounts the current barriers of buoyancy, and geographic limitations while reducing costs and preserving fragile marine environments. The company is based in Dublin and has a presence in Dubai, London, Madrid, Paris and Texas. For more information, visit www.gazellewindpower.com.
For Gazelle Wind Power:
Wendy Prabhu | Mercom Communications
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Ameresco upgraded and replaced 4,805 water meters and implemented a fixed-based Advanced Metering Infrastructure (AMI) system for the city
FRAMINGHAM, Mass. & EL CAMPO, Texas--(BUSINESS WIRE)--#ami--Ameresco, Inc. (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its project with the City of El Campo, Texas to upgrade and replace existing water and sewer metering infrastructure. The project resulted after Ameresco conducted an investment grade audit and identified potential utility improvement measures that would restore degraded meter accuracy, improve revenue potential and reduce operational cost for the city.
Ameresco replaced 4,805 water meters citywide, some of which were over 20 years old, and implemented a fixed-based Advanced Metering Infrastructure (AMI) system to allow for wireless reading of water meter data. This automated meter reading system eliminates the need for estimated meter reading, decreases meter accessibility issues and subsequently reduces billing errors. The resulting monetary benefits to the city include reduced utility rates, a projected cost savings of $92,052 in the first year alone, and the opportunity to recapture lost revenue.
The wireless AMI system will allow for automation of the City of El Campo’s billing process and reduce subsequent burden to city staff. These improvements will also reduce the risk of meter failure and lead to fewer service calls from customers in need of assistance. Additionally, a new web portal for the new system will enable customers to view their historical utility consumption data, enhancing the customer experience, and also allow city staff to access the meter data from any location with an internet connection.
“We’re thrilled that our contributions can benefit a community so committed to fostering a smarter and more efficient world,” said Bob Georgeoff, vice president of Ameresco. “By implementing such innovative improvements, the City of El Campo has made upgrades that will benefit the everyday lives of its residents through utility upgrades.”
The water and sewer metering infrastructure project advances the City of El Campo’s commitment to embracing and implementing smart city technologies. It marks a significant step for the city in becoming more efficient and enhancing transparency with its citizens.
“We are excited to see all the advancements taking place in our community, which will provide our water utility customers with a greater level of accuracy and transparency into their water consumption levels and reduce our operational costs. Implementing a new and improved water metering system is a strong step forward for the City of El Campo as it continues to make efforts for a more sustainable future as we continue to grow,” said Brittni Nanson, Director of Finance.
Project construction was completed in May of 2021.
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 City of El Campo, Texas
Small City, Deep Roots. El Campo was incorporated in 1905. The municipal government was composed of a mayor and five aldermen. Soon after the establishment of a formal government, came adequate police protection and a volunteer fire department. Utility services were expanded. The City of El Campo has been the result of a steady and continual growth by citizens who came and saw the great possibilities that El Campo has to offer.
The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of June 30, 2021.
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AUSTIN, Texas--(BUSINESS WIRE)--#ecommerce--Carriers are facing a peak shipping season loaded with more obstacles than ever before. From port congestion to severe weather to a truck driver shortage, shippers face an endless string of challenges during their busiest time of year. Unprecedented demand has combined with reduced capacity to drive shipping costs to an all-time high.
Shipwell, an industry leader in cloud-based shipping and logistics, provides a solution that helps shippers break from peak season chaos, source much-needed capacity and deliver their goods on time, every time.
The biggest dilemma carriers face during peak season is finding capacity while avoiding surging prices. Three main factors drive this problem:
“Customer expectations are at a level that we’ve never seen before, and shippers are going all-out to try to meet those expectations while managing overwhelming constraints,” said Shipwell CEO and co-founder Greg Price. “Shipwell can help them meet those expectations by overcoming capacity constraints and giving them a level of visibility into their shipments so they can stay ahead of any issues that arise.”
Premium Capacity, Advanced Visibility Result In Savings on Up to 25% of Freight Spend
To address the problems that carriers face, Shipwell’s platform focuses on innovative solutions for capacity and visibility, starting with a diversified carrier network.
The newest addition to Shipwell's advanced visibility capabilities is Responsive ETAs, which provide shippers with at-a-glance status updates for estimated arrival times for shipments en route. Logistics managers can now see which shipments are on time, which are running late and which are at risk of missing their scheduled delivery time, all directly on the Shipwell platform.
Along with providing at-a-glance statuses in multiple locations on the Shipwell platform, what sets Responsive ETAs apart is the amount of data that goes into calculating them. In addition to point-in-time location, Responsive ETAs actively monitor variables like traffic and weather conditions to factor in potential upcoming issues that would cause shipments to miss their scheduled delivery time.
Shipwell’s fully connected solutions make it possible to automate the entire shipping process in one place and ultimately lower costs with powerful insights and analytics, all without having to rip and replace.
To learn more about how Shipwell is providing shippers with the tools they need to keep their supply chains on track, go to shipwell.com.
About Shipwell
Shipwell is transforming the supply chain industry with a cloud-based shipping solution that grows with your business. Our connected SaaS platform combines the features and functionality of a TMS with advanced visibility and an integrated partner network in a simple solution that uses data analytics and workflow automation to maximize efficiencies and reduce total cost of ownership. Our innovative architecture delivers actionable, data-driven insights so customers can focus on high-priority tasks, identify and resolve transportation issues, and quickly access capacity. From order management to financial reconciliation, Shipwell’s platform saves time, reduces cost, and optimizes the shipping experience throughout the entire supply chain. Shipwell is proud to be recognized as a Niche Player in the 2021 Gartner Magic Quadrant for TMS, as well as a Forbes 2020 Next Billion-Dollar Startup.
For more information about Shipwell, visit shipwell.com, or connect with us on Twitter @shipwell, LinkedIn, and Facebook.com/Shipwellinc.
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Matt Grant
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OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced that Victoria International Container Terminal (VICT) – the first fully automated terminal in Australia– has completed its automation upgrade of Navis’ N4 TOS. This modernization effort notes VICT’s ongoing commitment to optimizing operations, reducing turnaround times and delivering unprecedented efficiency in key areas of the terminal – including the gate and container yard.
VICT is located at Webb Dock in the Port of Melbourne, the largest container port in Australia. The terminal’s owner, International Container Terminal Services Inc. (ICTSI), implemented N4 at its state-of-the-art greenfield project to help power its planned, fully automated container terminal. Since becoming operational, the terminal has continued to set benchmarks handling the largest vessel in capacity, highest exchange in a single call and the longest vessel to call at the port.
VICT’s value of service is key to the Victorian, Tasmanian and Australian supply chain in the Port of Melbourne, therefore improving its ability to handle increased capacity, safely and efficiently, is critical to its customers. Now that the terminal is preparing for its phase three expansion, VICT’s relationship with critical automation suppliers, like Navis, is vital to constantly improve services to maintain and service growth in the port.
“By continuing to optimize through automation upgrades and continuous improvement analysis, VICT strives to deliver the best possible service to our customers,” said Jon Wheeler, COO at VICT. “By upgrading our TOS through constant collaboration between Navis and our internal automation team, VICT’s focus is to consistently improve operational safety and productivity efficiencies for all our stakeholders. Since the upgrade, we have seen continuity in uptime, reduced exception handling, berth productivity improvement, and greater efficiencies with our industry leading landside operation of multiple containers. We are looking forward to working with Navis and enhancing our waterside operations further.”
The latest enhancements at VICT include an upgrade to N4 3.8 AutoShuttle scheduler which improves the user experience, reducing exception handling by automating workflows. Additional benefits include an optimal AutoShuttle dispatch, increased system robustness and uptime and shortened truck turnaround time for trucks with multiple transactions.
“It is truly incredible to see how far VICT has come in just a few short years, from greenfield site to a leading powerhouse, setting the standard for automation for container terminals globally,” said Charles Gerard, Vice President and General Manager Asia Pacific, Navis. “The industry continues to battle disruption and constraints as fallout from the pandemic and VICT remains committed to doing its part to facilitate trade. The terminal is ensuring that vessels are processed in a timely manner and essential goods coming through the port get where they are needed most. Using the most advanced technology, including N4, to fully automate its processes and deliver extra capacity to the port, VICT acts as a safe and reliable gateway to keep goods flowing in and out of the country.”
For more information visit www.navis.com.
About Navis, LP
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Gregory FCA
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Companies bring combined expertise in electric vehicle smart charging and Energy as a Service infrastructure solutions to growing North American market
BELMONT, Calif. & SILVER SPRING, Md.--(BUSINESS WIRE)--AlphaStruxure and The Mobility House announced today a strategic partnership to streamline the development of electric fleets with clean energy microgrids plus intelligent charging systems. With North America projected to see nearly 15 million electric vehicles in fleets by 2040, transit and fleet operators now have the opportunity to further reduce carbon emissions and increase operational resilience by charging electric vehicles with on-site renewable energy. The Mobility House’s intelligent charging solution wrapped into AlphaStruxure’s powerful Energy as a Service (EaaS) transportation electrification microgrid approach is already contracted for the Brookville Smart Energy Bus Depot, one of the most large-scale fleet electrification projects underway in North America.
“As the trusted partner in energy transformation, AlphaStruxure collaborates with our clients to design fully customized and integrated energy solutions that meet current and future fleet operation requirements,” said Juan Macias, CEO of AlphaStruxure. “AlphaStruxure combines the technical, financial and contractual capabilities of The Carlyle Group, Schneider Electric and select industry-leading technology partners like The Mobility House to deliver best-in-class, bespoke Energy as a Service solutions that accelerate the transition of fleets to ZEV."
AlphaStruxure’s Energy as a Service approach provides a holistic solution for fleet operators to leverage distributed energy resources to create more sustainable, resilient and reliable energy infrastructure. AlphaStruxure’s EaaS model allows fleet operators to take advantage of renewable energy with no upfront capital outlay, while The Mobility House provides an intelligent charge management interface between AlphaStruxure’s microgrids and the zero emissions vehicles.
“Together, we are reimagining the charging landscape for electric fleets, setting the foundation for a compelling industry offering that blends our EV energy management expertise with AlphaStruxure’s extensive technical and financial capabilities,” said The Mobility House U.S. Managing Director Gregor Hintler. “The Mobility House’s hardware-agnostic approach and open interface system allows us to integrate with a wide variety of innovative charging solutions like with AlphaStruxure, who has been an incredible partner to us for these past several years.”
The Mobility House’s Charging and Energy Management solution ChargePilot allows system operators to optimize charging for electric vehicle fleets of any size to ensure all vehicles remain readily available for scheduled routes. ChargePilot is deployed at over 500 sites around the globe, successfully managing some of the largest operating U.S. and Dutch electric transit fleets as well as the entire electric fleet of the Austrian Postal Service.
To learn more about AlphaStruxure’s Brookville Smart Energy Depot project with Montgomery County, Maryland, visit alphastruxure.com. For more on The Mobility House's charging and energy management solution, download the whitepaper Smart Charging for Your Electric Buses here: https://bit.ly/3to3Q9s
About AlphaStruxure
AlphaStruxure delivers customized Energy as a Service solutions that transform sustainability, resilience and reliability into a strategic advantage. Serving energy-intensive private and public sector organizations, AlphaStruxure brings together technical, financial and contractual innovation to meet customers’ current and future energy needs without capital expenditure. AlphaStruxure’s mission is to be the trusted partner in energy transformation, combining Schneider Electric’s industry-leading smart energy management and automation technologies with The Carlyle Group’s comprehensive structuring and financing capabilities. For more information, visit www.AlphaStruxure.com.
About The Mobility House
The Mobility House’s mission is to create an emissions-free energy and mobility future. Since 2009, the company has developed an expansive partner ecosystem to intelligently integrate electric vehicles into the power grid, including electric vehicle charger manufacturers, 1,000+ installation partners, 80+ energy suppliers, and automotive manufacturers ranging from Audi to Tesla. The intelligent Charging and Energy Management system ChargePilot and underlying EV Aggregation Platform enable customers and partners to integrate electric vehicles into the grid for optimized and future proof operations. The Mobility House’s unique vendor-neutral and interoperable technology approach to smart charging and energy management has been successful at over 500 commercial installations around the world. The Mobility House has more than 200 employees across its operations in Munich, Zurich and Belmont, Calif. For more information visit mobilityhouse.com.
Christine Bennett for The Mobility House
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Annika Harper for AlphaStruxure
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Despite Restrictions, VNA’s Hubgrade Innovations Made It Possible to Check a California Plant’s Equipment Without In-Person Inspections
BOSTON--(BUSINESS WIRE)--Over the past year, as Veolia North America (VNA) adjusted to the realities of operating in a world restricted by the COVID-19 pandemic, the company turned to innovative technologies to provide essential water and wastewater treatment services to communities across the U.S. and Canada.
Nowhere was this commitment to cutting-edge technology more evident than in Hollister, CA, where VNA has operated and maintained the city’s wastewater treatment plant for more than a decade. Concerned that pandemic restrictions would keep VNA experts from evaluating the plant’s equipment for proper functioning in person, the company used “augmented reality” digital tools to examine critical components with precision.
The tools were developed under VNA’s industry-leading Hubgrade digital platforms, which are transforming water, waste and energy operations. Spurred on by the unpredictable nature of the pandemic, the Hubgrade team at VNA tested sophisticated digital applications to remotely analyze the plant’s equipment. This platform uses ultrasound, vibration and thermal imaging along with inspections to get an accurate remote picture of which plant components were functioning properly, and which required upgrades or repairs.
“Advances in digitalization are transforming traditional ways to operate and maintain our critical infrastructure,” said Veronique Bourgier, who as VNA senior director for strategy and growth oversees the deployment of Hubgrade innovations. “Veolia is leading the way in this effort, particularly in developing solutions to improve and streamline processes at the facilities we operate.”
The pilot, which also reduced expenses that would otherwise be incurred by sending experts to inspect the plant in person, has proven to be such a success that VNA plans to conduct remote assessments at many other water and wastewater plants the company operates. Besides equipment assessments, the technology can also evaluate safety conditions, identifying potential hazards. It will also allow the company to connect site staff quickly with VNA in-house technical experts for the water and wastewater treatment plants it operates across the country.
Check out this case study of the Hollister project to learn more about how the project was conceived and implemented.
About Veolia: The Veolia Group's ambition is to be the benchmark company for the ecological transition. With operations on every continent and almost 179,000 employees, the Group designs and distributes useful, concrete solutions for the management of water, waste, and energy, which help bring about radical change. Through its three complementary activities, Veolia is growing access to resources, preserving the resources available, and renewing them. In 2020, the Veolia Group provided 95 million people with drinking water and 62 million with sanitation; it generated almost 43 million megawatt hours and recycled 47 million tons of waste. Veolia Environnement (Paris Euronext: VIE) posted consolidated sales of €26.010 billion in 2020.
About Veolia North America: A subsidiary of Veolia group, Veolia North America (VNA) offers a full spectrum of water, waste and energy management services, including water and wastewater treatment, commercial and hazardous waste collection and disposal, energy consulting and resource recovery. VNA helps commercial, industrial, healthcare, higher education and municipality customers throughout North America. Headquartered in Boston, Mass., Veolia North America has more than 7,000 employees working at more than 250 locations across the continent. www.veolianorthamerica.com
Matt Burgard
(203) 859-4168
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LONDON--(BUSINESS WIRE)--Cazoo (NYSE: CZOO), the UK’s leading online car retailer, which makes buying and selling a car as simple and seamless as ordering any other product online, today announced that it has acquired SMH Fleet Solutions (SMH), one of the UK’s leading vehicle preparation, logistics and storage businesses.
Established in 2003, SMH has a team of over 500 expert staff currently processing more than 70,000 vehicle refurbishments annually from 6 vehicle preparation sites across 136 acres in Bedford, Gloucester, Throckmorton, Worcester and St Helens. SMH also carries out over 150,000 vehicle movements per year with a team of over 300 logistics specialists as well as operating an online wholesale platform for used cars.
The combination of Cazoo’s world-class online retail platform and brand with SMH’s leading infrastructure and expertise will double Cazoo’s overall vehicle reconditioning, logistics and storage capabilities in the UK with 11 total sites across more than 265 acres, as well as providing it with an experienced team of hundreds of additional vehicle preparation and logistics specialists and its own digital wholesale platform.
This deal will provide Cazoo with one of the most extensive portfolios of vehicle preparation sites and production capabilities in the UK to meet its rapid growth plans. Once fully integrated, Cazoo will have the capacity to recondition and deliver hundreds of thousands of cars per year and store tens of thousands of cars, helping to secure its future requirements and materially de-risk its ability to meet its growth targets.
Cazoo is one of the fastest growing businesses in Europe, pioneering the shift to online car buying and selling and this acquisition follows its listing on the NYSE last month. Cazoo has already sold over 35,000 cars in the UK since its launch less than 2 years ago as consumers have embraced the selection, value, transparency and convenience of buying and selling used cars entirely online.
Cazoo has recently launched an all-inclusive monthly subscription service for new cars as well as now buying used cars directly from consumers in the UK and is gearing up to launch later this year in both France and Germany. Cazoo owns and fully reconditions all of its cars before offering them on its website for either delivery or collection in as little as 72 hours and has thousands of cars available at any time.
Cazoo has acquired SMH for approximately £70m in cash from LDC and other minority shareholders. The transaction is expected to have a negligible impact on Cazoo’s FY2021 operating results.
Alex Chesterman OBE, Founder & CEO of Cazoo said: “Given strong consumer demand, the only real constraint to our future growth is ensuring that we have adequate capability to recondition, store and deliver enough cars to keep up. By acquiring SMH, this helps solve that and de-risks our future growth by immediately doubling our number of vehicle preparation sites and significantly enhancing our team of vehicle preparation and logistics staff. I look forward to welcoming the SMH team to Cazoo.
“Buying or selling a car entirely online from the comfort of your home and having it delivered or collected in a matter of days, just like any other product today, is clearly resonating with consumers and our record growth continues as they embrace the selection, value, quality and convenience of our proposition.”
Tim Hudson, CEO at SMH Fleet Solutions said, “We’re delighted to be joining forces with Alex and the team at Cazoo and see this as a perfect fit for SMH. We have built one of the leading teams in vehicle preparation and logistics in the UK and are very well placed to support the remarkable pace of growth at Cazoo and help it deliver on its mission of providing the best car buying and selling experience in the UK.”
About Cazoo – www.cazoo.co.uk
Our mission is to transform the car buying and selling experience across the UK & Europe by providing better selection, value, transparency, convenience and peace of mind. Our aim is to make buying or selling a car no different to ordering any other product online, where consumers can simply and seamlessly buy, sell, finance or subscribe to a car entirely online for delivery or collection in as little as 72 hours. Cazoo was founded in 2018 by serial entrepreneur Alex Chesterman OBE, is backed some of the leading technology investors globally and is publicly traded (NYSE: CZOO).
About SMH Fleet Solutions – www.smhfleet.com
We provide a full suite of fleet management services including preparation, refurbishment, remarketing and delivery of vehicles to a broad range of automotive customers. Our team are experts in vehicle management and providing ancillary services and our commitment to service and quality is at the forefront of all our business activity. SMH has continued to expand its footprint in recent years with new sites across the UK and expansion into new business areas.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. The expectations, estimates, and projections of the business of Cazoo may differ from its actual results and, consequently, you should not rely on forward-looking statements as predictions of future events. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (1) realizing the benefits expected from the business combination with Ajax I (the “Business Combination”); (2) achieving the expected revenue growth and effectively managing growth; (3) executing Cazoo’s expansion strategy in Europe; (4) acquiring and integrating other companies; (5) achieving and maintaining profitability in the future; (6) having access to suitable and sufficient vehicle inventory for resale to customers and for Cazoo’s subscription offering and refurbishing and selling inventory expeditiously and efficiently; (7) expanding Cazoo’s subscription offering; (8) increasing Cazoo’s service offerings and price optimization; (9) effectively promoting Cazoo’s brand and increasing brand awareness; (10) expanding Cazoo’s product offerings and introducing additional products and services; (11) enhancing future operating and financial results; (12) acquiring and protecting intellectual property; (13) attracting, training and retaining key personnel; (14) complying with laws and regulations applicable to Cazoo’s business; (15) successfully deploying the proceeds from the Business Combination; and (16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the registration statement on Form F-4 and the proxy statement/prospectus included therein filed by Cazoo Group Ltd (f/k/a Capri Listco). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the disclosure included in other documents filed by Cazoo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Cazoo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Cazoo gives no assurance that it
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ARLINGTON, Va.--(BUSINESS WIRE)--$AVAV #AeroVironment--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced that its wholly owned subsidiary, Telerob, successfully delivered the United States Pentagon Force Protection Agency’s (PFPA) telemax™ EVO HYBRID unmanned ground vehicle (UGV) order in July 2021. Designed to be operated by PFPA explosive ordnance disposal (EOD) and hazardous materials handling (HAZMAT) technicians, the UGV was purchased for deployment by its Hazardous Devices Branch.
"With its strong 6-axis precision manipulator, Tool Center Point Control and automatic tool exchange, the telemax EVO HYBRID enables EOD and HAZMAT units to perform dangerous missions from a safe distance and with precision control, even in the most confined spaces," said Brian Young, AeroVironment vice president and product line general manager for unmanned ground vehicles.
The telemax EVO HYBRID is a versatile UGV with an expansive payload bay and automatic tool exchange that allow operators to take multiple tools, disruptors, or other sensors downrange, eliminating round-trip load-outs. The telemax EVO HYBRID features a 4-track drive system with auto-leveling to easily handle multiple gradients, gaps and terrains, and its onboard IP Mesh radio delivers secure communications in complex urban environments.
To learn more about Telerob’s advanced ground robotic solutions, visit https://www.avinc.com/ugv/unmanned-ground-vehicle-solutions.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.
ABOUT TELEROB, AN AEROVIRONMENT COMPANY
Telerob is a leading manufacturer of defense and homeland security solutions based in Ostfildern near Stuttgart, Germany. The product range includes remote-controlled unmanned ground vehicles for disarming improvised explosive devices and investigating CBRN hazards, fully equipped service vehicles, as well as mobile system solutions ensuring the safety and security of critical infrastructure and people. For more information, visit https://www.telerob.com/en/.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Makayla Thomas
AeroVironment, Inc.
+1 (805) 520-8350
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Mark Boyer
For AeroVironment, Inc.
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DUBLIN--(BUSINESS WIRE)--The "Global Small Modular Reactor Market by Reactor (HWR, LWR, HTR, FNR, MSR), Deployment (Single, Multi), Connectivity (Grid, Off-grid), Location (Land, Marine), Application (Power Generation, Desalination, Process Heat), and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The small modular reactor market is projected to reach USD 11.3 billion by 2026 from an estimated USD 9.7 billion in 2021, at a CAGR of 3.2% during the forecast period.
The off-grid segment, by connectivity, is expected to be the largest and the fastest growing market from 2021 to 2026
The off-grid SMR segment accounted for a larger market share in 2020. SMRs deployed for off-grid operations are not connected to a large-scale electricity grid. Most SMRs are designed for remote locations where it is not feasible to site larger nuclear power plants.
Off-grid SMRs located in remote communities, islands, and mining sites can be used for power generation and other non-electric applications.
Despite the high cost of electricity generation, deployment of SMRs is beneficial in remote regions, especially in Russia, owing to the higher cost of alternatives such as power grid extension and fossil fuel-fired generators.
The multi-module power plant, by deployment, is expected to be the fastest growing market from 2021 to 2026
The multi-module power plant segment is expected to be the fastest growing deployment segment during the forecast period, owing to the ease of financing additional modules. Multi-module SMR plants are easier to finance compared with large nuclear reactors, as SMRs require lower upfront investments for a unit, and additional capacity may be built over time.
The ability to add modules incrementally in multi-module SMRs provides economies of series production. This, in turn, could permit investors and operators to adjust to the changes in demand for electricity and budgetary constraints to reduce financial risks. These factors are expected to drive the demand for SMRs for deployment in multi-module power plants.
The power generation segment, by application, is expected to be the largest market from 2021 to 2026
Power generation is expected to dominate the global small modular reactor market between 2021 and 2026 as the power generated by SMRs is expected to be economical compared with other low-carbon alternatives and help reduce carbon emissions and meet new energy demands.
SMRs provide a stable and reliable baseload power supply, which makes them suitable for replacing and optimizing the use of retiring coal and other fossil fuel-fired power plants and replacing aging infrastructure. SMRs also have load following capabilities and can be integrated with renewable energies to provide flexible power, as these reactors can vary their output to meet the fluctuations in power produced using renewable energy.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
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Stock and Cash Transaction Represents an Enterprise Value of Approximately $31 Billion
Expected to Create Annualized Synergies of Approximately $1 Billion within Three Years
Historic Combination Enhances Competition, Creates New Options for Customers, and Supports Economic Growth in North America
Companies to Host Investor Conference Call Thursday at 8 a.m. ET
CALGARY, Alberta & KANSAS CITY, Mo.--(BUSINESS WIRE)--Canadian Pacific Railway Limited (TSX: CP, NYSE: CP) (“CP”) and Kansas City Southern (NYSE: KSU) (“KCS”) today announced they have entered into a merger agreement, under which CP has agreed to acquire KCS in a stock and cash transaction representing an enterprise value of approximately USD$31 billion1, which includes the assumption of $3.8 billion of outstanding KCS debt. The transaction, which has the unanimous support of both boards of directors, values KCS at $300 per share, representing a 34% premium, based on the CP closing price on Aug. 9, 2021, the date prior to which CP submitted a revised offer to acquire KCS, and KCS’ unaffected closing price on March 19, 20212.
“Our path to this historic agreement only reinforces our conviction in this once-in-a-lifetime partnership,” said CP President and Chief Executive Officer Keith Creel. “We are excited to get to work bringing these two railroads together. By combining, we will unlock the full potential of our networks and our people while providing industry-best service for our customers. This perfect end-to-end combination creates the first U.S.-Mexico-Canada rail network with new single-line offerings that will deliver dramatically expanded market reach for CP and KCS customers, provide new competitive transportation options, and support North American economic growth.”
“We are glad to be partnering with CP to create a railroad that is able to compete by providing the best value for the transportation dollar,” said KCS President and Chief Executive Officer Patrick J. Ottensmeyer. “The CP-KCS combination will not only benefit customers, labor partners, and shareholders through new, single-line transportation services, attractive synergies and complementary routes, it will also benefit KCS and our employees by enabling us to become part of a growing and truly North American continental enterprise.”
While remaining the smallest of six U.S. Class 1 railroads by revenue, the combined company would have a much larger and more competitive network, operating approximately 20,000 miles of rail, employing close to 20,000 people, and generating total revenues of approximately $8.7 billion based on 2020 actual revenues. The CP-KCS combination is expected to create jobs across the joined network. Additionally, the companies expect efficiency and service improvements to achieve meaningful environmental benefits.
Transaction to Expand Options and Efficiencies for Customers
A CP-KCS combination would provide unprecedented reach via new single-line hauls across a combined network, offering:
Importantly, customers would not experience a reduction in independent railroad choices as a result of the transaction. CP-KCS have committed to keep all existing freight rail gateways open on commercially reasonable terms, while simultaneously competing aggressively to attract traffic via new single-line north-south lanes between Canada, the Upper Midwest and the Gulf Coast, Texas, and Mexico.
A CP-KCS combination would preserve the six-railroad structure of the North American Class 1 rail network: two in the west, two in the east and two in Canada, each with access to the U.S. Gulf Coast. The two companies once combined would remain the smallest of the Class 1 carriers.
Improving Highway Traffic, Environmental Sustainability, and Safety
The new single-line routes made possible by the transaction are expected to shift trucks off crowded U.S. highways, lowering emissions and reducing the need for public investments in road and highway bridge repairs. Rail is four times more fuel efficient than trucking, and one train can keep more than 300 trucks off public roads and produce 75 percent less greenhouse gas emissions. The synergies created by this combination are expected to take tens of thousands of trucks off the highways annually.
CP is committed to sustainability and is currently developing North America’s first line-haul hydrogen-powered locomotive. Additionally, the combined company would maintain both CP and KCS’ pledges to improve fuel efficiency and lower emissions in-line with the Paris Agreement to support a more sustainable North American supply chain.
Creating Value for KCS and CP Shareholders
Following the closing into a voting trust, common shareholders of KCS will receive 2.884 CP shares and $90 in cash for each KCS common share held. Preferred shareholders will receive $37.50 in cash for each KCS preferred share held. The fixed exchange ratio implies a price for KCS of $300 per share, representing a 34% premium, based on the CP closing price on August 9, 2021 and KCS’ unaffected closing price on March 19, 20213.
Immediately following the closing into trust, KCS common shareholders are expected to own 28 percent of CP’s outstanding common shares, providing the ability to participate in the upside of both companies’ growth opportunities. Following final regulatory approval by the U.S. Surface Transportation Board (“STB”), KCS shareholders would also reap the benefits of synergies resulting from the combination.
The combined growth strategies of the two fastest-growing Class 1s will result in new efficiencies for customers and improved on-time performance under their respective Precision Scheduled Railroading programs. The combined company is expected to create annualized synergies of approximately $1 billion over three years.
The combination is expected to be accretive to CP’s adjusted diluted EPS4 in the first full year following CP’s acquisition of control of KCS, and is expected to generate double-digit accretion upon the full realization of synergies thereafter.
To fund the stock consideration of the merger, CP will issue 44.5 million new shares. Consistent with the previously announced transaction, the cash portion will be funded through a combination of cash-on-hand and raising approximately $8.5 billion in debt, for which financing has been committed. As part of the merger, CP will assume approximately $3.8 billion of KCS’ outstanding debt. Following the closing into trust, CP expects that its outstanding debt will be approximately $20 billion.
Pro forma for the transaction, CP estimates its leverage ratio against 2021E street consensus EBITDA to be approximately 3.9x with the assumption of KCS debt and issuance of new acquisition-related debt. In order to manage this leverage effectively, CP will continue to temporarily suspend its normal course issuer bid program, and expects to produce approximately $7 billion of levered free cash flow (after interest and taxes) over the next three years. CP estimates its long-term leverage target of approximately 2.5x to be achieved within 24 months after closing into trust. The combined company will remain committed to maintaining strong investment grade credit ratings while continuing to return capital for the benefit of shareholders.
Strong Stakeholder Support for CP-KCS
More than 1,000 stakeholders – including railroad labor unions, shippers, and community leaders – have written letters to the STB supporting CP's proposed combination with KCS. These letters emphasize the enhanced competition and unsurpassed levels of service, safety and economic efficiency that the transaction will bring for shippers and communities across the U.S., Mexico, and Canada that a CP-KCS combination offers.
Clear Path to Complete Transaction and Merger
On May 6, 2021, the STB approved the use of a voting trust for a planned CP-KCS merger, and the pertinent circumstances surrounding this new agreement between CP and KCS have not changed relative to those underlying the STB’s decision approving a trust. To close into voting trust, the transaction requires approval from shareholders of both companies along with satisfaction of customary closing conditions, including Mexican regulatory approvals. CP would then acquire KCS and place the KCS shares into the voting trust, at which point KCS shareholders would receive 2.884 CP shares and $90 in cash for each KCS common share held. The companies expect the transaction to close and KCS shareholders to receive their consideration in Q1 2022.
CP’s ultimate acquisition of control of KCS’ U.S. railways is subject to the approval of the STB. In April, the STB decided that it would review the CP-KCS combination under the merger rules in existence prior to 2001 and the waiver granted to KCS in 2001 to exempt it from the 2001 merger rules. In August, the STB reaffirmed that the pre-2001 rules would govern its review of the CP-KCS transaction.
The STB review of CP’s proposed control of KCS is expected to be completed in the second half of 2022. Upon obtaining control approval, the two companies will be integrated fully over the ensuing three years, unlocking the benefits of the combination.
Board, Management, and Headquarters
Following STB approval of the CP’s control of KCS, Mr. Creel will serve as the Chief Executive Officer of the combined company. The combined entity will be named Canadian Pacific Kansas City (“CPKC”).
Calgary will be the global headquarters of CPKC, and Kansas City, Missouri will be the U.S. headquarters. The Mexico headquarters will remain in Mexico City and Monterrey. CP’s current U.S. headquarters in Minneapolis-St. Paul will remain an important base of operations.
Four KCS Directors will join CP’s expanded Board at the appropriate time, bringing their experience and expertise in overseeing KCS’ multinational operations.
Advisors
BMO Capital Markets and Goldman Sachs & Co. LLC are serving as financial advisors to Canadian Pacific. Sullivan & Cromwell LLP, Bennett Jones LLP and the Law Office of David L. Meyer are serving as legal counsel. Creel, García-Cuéllar, Aiza y Enríquez, S.C. are serving as Mexican legal counsel to Canadian Pacific. Evercore is serving as the Canadian Pacific Board's financial advisors and Blake, Cassels & Graydon LLP is serving as the Board's legal counsel.
BofA Securities and Morgan Stanley & Co. LLC are serving as financial advisors to Kansas City Southern. Wachtell, Lipton, Rosen & Katz, Baker & Miller PLLC, Davies Ward Phillips & Vineberg LLP, WilmerHale, and White & Case, S.C. are serving as legal counsel to Kansas City Southern.
Conference Call for Investment Community
CP and KCS will host a joint investor conference call Thursday, Sept. 16, at 8 a.m. ET to discuss this announcement. A live webcast of the call and the replay will be available on the CP website at https://investor.cpr.ca/events and the KCS website at https://investors.kcsouthern.com/events-calendar. Supporting materials will be posted on www.FutureForFreight.com. To listen to the live conference call, dial (877) 830-2586 in the U.S. or (785) 424-1734 internationally, passcode 74335.
A conference call replay will be available for one week following the call and can be accessed by dialing (800) 753-5212 (no passcode needed).
For information on the benefits of a CP-KCS combination, visit FutureForFreight.com.
FORWARD LOOKING STATEMENTS AND INFORMATION
This news release includes certain forward looking statements and forward looking information (collectively, FLI) to provide CP and KCS shareholders and potential investors with information about CP, KCS and their respective subsidiaries and affiliates, including each company’s management’s respective assessment of CP, KCS and their respective subsidiaries’ future plans and operations, which FLI may not be appropriate for other purposes. FLI is typically identified by words such as “anticipate”, “expect”, “project”, “estimate”, “forecast”, “plan”, “intend”, “target”, “believe”, “likely” and similar words suggesting future outcomes or statements regarding an outlook. All statements other than statements of historical fact may be FLI.
Although we believe that the FLI is reasonable based on the information available today and processes used to prepare it, such statements are not guarantees of future performance and you are cautioned against placing undue reliance on FLI. By its nature, FLI involves a variety of assumptions, which are based upon factors that may be difficult to predict and that may involve known and unknown risks and uncertainties and other factors which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by these FLI, including, but not limited to, the following: the timing and completion of the transaction, including receipt of regulatory and shareholder approvals and the satisfaction of other conditions precedent; interloper risk; the realization of anticipated benefits and synergies of the transaction and the timing thereof; the success of integration plans; the focus of management time and attention on the transaction and other disruptions arising from the transaction; changes in business strategy and strategic opportunities; estimated future dividends; financial strength and flexibility; debt and equity market conditions, including the ability to access capital markets on favourable terms or at all; cost of debt and equity capital; potential changes in the CP share price which may negatively impact the value of consideration offered to KCS shareholders; the ability of management of CP, its subsidiaries and affiliates to execute key priorities, including those in connection with the transaction; general Canadian, U.S., Mexican and global social, economic, political, credit and business conditions; risks associated with agricultural production such as weather conditions and insect populations; the availability and price of energy commodities; the effects of competition and pricing pressures, including competition from other rail carriers, trucking companies and maritime shippers in Canada, the U.S. and Mexico; North American and global economic growth; industry capacity; shifts in market demand; changes in commodity prices and commodity demand; uncertainty surrounding timing and volumes of commodities being shipped; inflation; geopolitical instability; changes in laws, regulations and government policies, including regulation of rates; changes in taxes and tax rates; potential increases in maintenance and operating costs; changes in fuel prices; disruption in fuel supplies; uncertainties of investigations, proceedings or other types of claims and litigation; compliance with environmental regulations; labour disputes; changes in labour costs and labour difficulties; risks and liabilities arising from derailments; transportation of dangerous goods; timing of completion of capital and maintenance projects; sufficiency of budgeted capital expenditures in carrying out business plans; services and infrastructure; the satisfaction by third parties of their obligations; currency and interest rate fluctuations; exchange rates; effects of changes in market conditions and discount rates on the financial position of pension plans and investments; trade restrictions or other changes to international trade arrangements; the effects of current and future multinational trade agreements on the level of trade among Canada, the U.S. and Mexico; climate change and the market and regulatory responses to climate change; anticipated in-service dates; success of hedging activities; operational performance and reliability; customer, shareholder, regulatory and other stakeholder approvals and support; regulatory and legislative decisions and actions; the adverse impact of any termination or revocation by the Mexican government of Kansas City Southern de Mexico, S.A. de C.V.’s Concession; public opinion; various events that could disrupt operations, including severe weather, such as droughts, floods, avalanches and earthquakes, and cybersecurity attacks, as well as security threats and governmental response to them, and technological changes; acts of terrorism, war or other acts of violence or crime or risk of such activities; insurance coverage limitations; material adverse changes in economic and industry conditions, including the availability of short and long-term financing; and the pandemic created by the outbreak of COVID-19 and its variants, and resulting effects on economic conditions, the demand environment for logistics requirements and energy prices, restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions, and disruptions to global supply chains.
We caution that the foregoing list of factors is not exhaustive and is made as of the date hereof. Additional information about these and other assumptions, risks and uncertainties can be found in reports and filings by CP and KCS with Canadian and U.S. securities regulators, including any proxy statement, prospectus, material change report, management information circular or registration statement to be filed in connection with the transaction. Reference should be made to “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Forward Looking Statements” in CP’s and KCS’s annual and interim reports on Form 10-K and 10-Q. Due to the interdependencies and correlation of these factors, as well as other factors, the impact of any one assumption, risk or uncertainty on FLI cannot be determined with certainty.
Except to the extent required by law, we assume no obligation to publicly update or revise any FLI, whether as a result of new information, future events or otherwise. All FLI in this news release is expressly qualified in its entirety by these cautionary statements.
ABOUT CANADIAN PACIFIC
Canadian Pacific is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit www.cpr.ca to see the rail advantages of CP. CP-IR
ABOUT KCS
Headquartered in Kansas City, Mo., Kansas City Southern (KCS) (NYSE: KSU) is a transportation holding company that has railroad investments in the U.S., Mexico and Panama. Its primary U.S. holding is The Kansas City Southern Railway Company, serving the central and south central U.S. Its international holdings include Kansas City Southern de Mexico, S.A. de C.V., serving northeastern and central Mexico and the port cities of Lázaro Cárdenas, Tampico and Veracruz, and a 50 percent interest in Panama Canal Railway Company, providing ocean-to-ocean freight and passenger service along the Panama Canal. KCS’ North American rail holdings and strategic alliances with other North American rail partners are primary components of a unique railway system, linking the commercial and industrial centers of the U.S., Mexico and Canada. More information about KCS can be found at www.kcsouthern.com.
ADDITIONAL INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT
CP will file with the U.S. Securities and Exchange Commission (SEC) a registration statement on Form F-4, which will include a proxy statement of KCS that also constitutes a prospectus of CP, and any other documents in connection with the transaction. The definitive proxy statement/prospectus will be sent to the shareholders of KCS. CP will also file a management proxy circular in connection with the transaction with applicable securities regulators in Canada and the management proxy circular will be sent to CP shareholders. INVESTORS, STOCKHOLDERS AND SHAREHOLDERS OF KCS AND CP ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND MANAGEMENT PROXY CIRCULAR, AS APPLICABLE, AND ANY OTHER DOCUMENTS FILED OR TO BE FILED WITH THE SEC OR APPLICABLE SECURITIES REGULATORS IN CANADA IN CONNECTION WITH THE TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT KCS, CP, THE TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus and other documents filed by CP and KCS with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the registration statement, proxy statement/prospectus, management proxy circular and other documents which will be filed with the SEC and applicable securities regulators in Canada by CP online at investor.cpr.ca and www.sedar.com, upon written request delivered to CP at 7550 Ogden Dale Road S.E., Calgary, Alberta, T2C 4X9, Attention: Office of the Corporate Secretary, or by calling CP at 1-403-319-7000, and will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by KCS online at www.investors.kcsouthern.com, upon written request delivered to KCS at 427 West 12th Street, Kansas City, Missouri 64105, Attention: Corporate Secretary, or by calling KCS’s Corporate Secretary’s Office by telephone at 1-888-800-3690 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
You may also read and copy any reports, statements and other information filed by KCS and CP with the SEC at the SEC public reference room at 100 F Street N.E., Room 1580, Washington, D.C. 20549. Please call the SEC at 1-800-732-0330 or visit the SEC’s website for further information on its public reference room. This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to appropriate registration or qualification under the securities laws of such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
NON-GAAP MEASURES
Although this news release includes forward-looking non-GAAP measures (adjusted diluted EPS and earnings before interest, tax, depreciation and amortization (EBITDA)), it is not practicable to reconcile, without unreasonable efforts, these forward-looking measures to the most comparable GAAP measures (diluted EPS and Net income, respectively), due to unknown variables and uncertainty related to future results.
Canadian Pacific
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Kansas City Southern
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NEW YORK--(BUSINESS WIRE)--#Helbiz--Helbiz Inc. (NASDAQ: HLBZ), a global leader in micro-mobility and the first in its industry to be publicly listed on Nasdaq, today announced its role as a Gold Sponsor of MNE Ceresio 1931, the first electric boat ceremony in Lugano, Switzerland. This event is part of the larger 20-35 Project, an initiative that is encouraging the conversion of fossil fuel propulsion to electric propulsion among all boats in the fleet of the Società Navigazione del Lago di Lugano by 2035.
The project kicked off yesterday with the inauguration of Switzerland's first fully electric boat, designed with lake navigation to significantly reduce CO2 emissions. Helbiz was present in Lugano with its sustainable electric vehicles on display, offering its transportation services and recharging stations for guests to experience firsthand. The company also arranged safety demonstrations and test drives of its vehicles to promote the responsible use of scooters.
The event also marked the official debut of the Helbiz E-Station, a smart platform for renting, releasing and recharging electric scooters, now present in Lugano. The station can be moved to strategic points around the city to improve circulation flows and reduce carbon emissions.
"Helbiz is committed to raising awareness on key societal issues such as the reduction of CO2 and combating pollution,” said Giulio Profumo, Chief Financial Officer at Helbiz. “This event and the ongoing 20-35 project highlight the importance of pairing new technology with sustainable transportation. We are proud to be a sponsor of MNE Ceresio 1931, as it reflects the core values of Helbiz and underscores our respect for the environment."
Helbiz plans to expand its micro-mobility services beyond the Alps in the near future.
About Helbiz
Helbiz is a global leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform in 35 cities around the world. Helbiz utilizes a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery, financial services and more, all accessible within its mobile app.
Forward-Looking Statements
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21, 2021. The Company’s SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Helbiz and speaks only as of the date on which it is made. Helbiz undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
Helbiz Contacts
For investor and media inquiries, contact: https://www.helbiz.com/pressroom
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San Antonio solar installer looks to new Tigo Energy products to meet energy needs of Texans
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced a partnership with Advanced Solar and Electric, among the largest solar energy providers in Southern Texas. Advanced Solar and Electric is currently the lead customer for a new solar offering from Tigo Energy that will help service the large and growing renewable energy market in Texas.
Advanced Solar and Electric is an innovator in the residential energy field, with more than 4,000 satisfied customers in the South Texas area. Since 2017, the company has implemented a unique Power Generation Guaranty for homeowners. This guarantee takes the guesswork out of the process for homeowners and provides the peace of mind and security for the first three years of system ownership. The service is made possible by the high-quality design, installation, and electrical work provided by the in-house team of expert solar professionals at Advanced Solar. As the only contractor in San Antonio that offers a warranty on installation and energy production, Advanced Solar strives to support installation value and success.
“Advanced Solar is the ideal type of partner for Tigo and our newest product families,” said Jurgen Krehnke, chief commercial officer, at Tigo Energy. “The combination of high-quality workmanship, solar energy expertise, and unsurpassed customer service matches the value propositions of the forthcoming Tigo products as we enter this exciting market together.”
“Tigo Energy has always been an entrepreneurial company, and we are excited about this new set of products,” said Don Dickey, founder and owner and chief operating officer, at Advanced Solar and Electric. “We are proud to be the first installer in the world to offer a new solution from Tigo to our customers in South Texas.”
Tigo Energy is meeting with its installer customers and partners during the week of September 20, 2021, to deliver product and technical briefings about the Company’s innovative new solar solution. To schedule a meeting to learn about the new product offering, please go to the Tigo Website. A formal product announcement is planned prior to the end of September 2021.
About Tigo Energy
Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.
John Lerch
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BELLINGHAM, Wash.--(BUSINESS WIRE)--#PVsolar--Silfab Solar Inc., a North American leader in photo-voltaic (PV) module manufacturing, today announced an investment led by ARC Financial Corp. (“ARC”) to significantly expand Silfab’s US solar production and supply chain footprint, and service the growing consumer appetite for American-made, premium-quality solar panels.
Silfab is the first energy transition investment from ARC’s Energy Fund 9, and includes co-investments by Ontario Power Generation Inc. Pension Plan and BDC Capital’s Cleantech Practice. ARC is one of the most established energy-focused private equity fund managers in North America and the investment reflects confidence in Silfab’s leadership team, its 40 years of solar experience, and the company’s ability to meet increasing solar demand.
“Silfab continues to make significant investments in domestic manufacturing equipment and technology of solar panels that will lead the industry over the next five years,” said Paolo Maccario, Silfab’s Chief Executive Officer. “ARC’s strategic investment provides growth capital that enables Silfab to increase domestic production and sourcing, and opens additional doors to new generations of modules. ARC’s North American energy focus supplements the solar-specific acumen of our pre-existing shareholders and this commitment from both groups will also mean more American solar jobs.”
With manufacturing facilities across North America to serve the expanding US market, Silfab utilizes best-in-class automation for ultra-high efficiency module production, leverages partnerships for next-generation technology applications, and offers industry-leading warranties for residential and commercial performance.
“ARC spent extensive effort evaluating the solar industry for long-term investment opportunities that support and drive the global energy transition. Silfab’s North American-based team, automated manufacturing knowledge, product development pipeline and dedicated customer focus align with ARC’s commitment to supporting high-quality businesses,” said Brian Boulanger, CEO of ARC. “Based on current demand forecasts for PV solar, Silfab is ideally positioned for significant growth and this investment ensures the company is properly capitalized to execute on its plan.”
Silfab manufactures the highest-rated, most-durable and powerful back-contact and mono passivated emitter and rear contact (PERC) PV modules for the North American residential and commercial markets. Silfab recently earned “Top Performer” ratings under the rigorous PV Evolution Labs testing process. Silfab has recorded more than a dozen expansions of production capacity, most recently with state-of-the-art PV module assembly plants in the state of Washington.
To read about Silfab’s full product line, visit www.silfabsolar.com.
About Silfab Solar
Silfab Solar is the North American leader in the design, development and manufacture of ultra-high-efficiency, premium quality PV modules. Silfab leverages 40 years of solar experience and best-in-class technologies to produce the highest-rated solar modules from facilities in the state of Washington and Toronto, Canada. Each facility features multiple automated ISO 9001-2015 quality certified production lines utilizing just-in-time manufacturing to deliver Buy American approved PV modules specifically designed for and dedicated to the North American market.
www.silfabsolar.com
About ARC Financial Corp.
Founded in 1989, ARC Financial Corp. is committed to building high-performing businesses that address the world’s energy and sustainability needs. To date, ARC has raised $6 billion across nine energy-focused funds since the launch of its private equity business in 1997, having invested capital in more than 180 companies across the energy landscape. ARC has a diverse team of investment professionals with deep domain and capital markets experience and expertise across the energy spectrum. The ARC Energy Research Institute supports its investment strategies, proactively identifying key trends, and building relationships with entrepreneurs, industry leaders, and government.
www.arcfinancial.com
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage.
www.bdc.ca/capital
Media Contact for Silfab Solar:
Geoff Atkins
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Tel: +1-905-255-2501 Ext. 737
www.silfabsolar.com
- Cybersecurity awards to recognize organizations and individuals using Insider Risk Management technology in innovative ways to protect IP, trade secrets and sensitive data
- Award entries open through Nov. 30, 2021
MINNEAPOLIS--(BUSINESS WIRE)--#insiderrisk--Today, the Insider Risk Summit team announced a call for entries for the first annual Insider Risk Excellence Awards. The cybersecurity awards recognize organizations and individuals who have implemented Insider Risk Management (IRM) solutions in innovative ways. They are protecting their IP and sensitive company data while supporting modern workforces to collaborate and elevate productivity without heavy-handed security measures hindering operations and legitimate work.
The Insider Risk Excellence Awards are open for submission and the call for award entries closes on Nov. 30, 2021. The award winners will be announced the week of Feb. 7, 2022.
As cloud-based collaboration tools continue to rise in popularity within the enterprise, so have insider data theft and leaks, which contribute to losses up to 20% of revenue annually. Research further highlights the breadth of the insider risk challenge – on average, organizations can attribute 13 data exposure events per day to each of their users. It’s no surprise when looking ahead that 59% of security leaders expect insider risks to increase in the next two years.
Organizations and security leaders who are acting in progressive ways to protect their source code, product plans, personnel and customer information are eligible for the Insider Risk Excellence Awards in the following categories:
The Insider Risk Excellence Awards are being selected by a judging committee made up of security industry leaders from technology providers, advisory firms and channel organizations. The awards judges include:
About The Insider Risk Summit
The Insider Risk Summit, the industry’s leading conference on Insider Risk Management (IRM), brings together security leaders and practitioners and industry experts to learn, interact and share best practices in the IRM space. More than just one moment in time – the Insider Risk Summit is a community of organizations and security professionals that understand collaboration, productivity and enablement of users while meeting data security challenges. In its inaugural year in 2020, more than 2,000 security professionals registered for the event, which is held annually in September during Insider Threat Awareness month. For the most up-to-date news about the Insider Risk Summit and the IRM community, go to www.insiderrisksummit.com or follow along on Twitter.
© 2021 Code42 Software, Inc. All rights reserved. All marks are properties of their respective owners.
Kristin McKenzie
Public Relations Principal, Code42
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844-333-4242
NEW YORK--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced that Ben Harper has joined the firm as Head of Environmental, Social and Governance (“ESG”).
Mr. Harper joins Stonepeak from Zurich Insurance (“Zurich”) where most recently he oversaw the global insurer’s sustainability priorities, including operational, investment and product development initiatives. Under his leadership, Zurich was named the insurance industry leader for the Dow Jones Sustainability Index in 2020. At Stonepeak, Mr. Harper will similarly aim to enhance Stonepeak’s leadership on sustainable investing and ESG as he oversees the firm’s continued efforts to scale its already significant ESG program.
Mr. Harper will partner closely with Stonepeak’s senior leadership team, investment team and portfolio company management teams to expand the firm’s approach to ESG integration both within its existing investment process and asset management activities. In his role, Mr. Harper will help establish additional goals for the program including expanding and refining the firm’s approach to measurement, policies and reporting in line with best practice and the continued evolution of the ESG landscape. Mr. Harper’s deep experience in implementing meaningful environmental sustainability initiatives will further augment and accelerate Stonepeak’s long-term approach to decarbonization and climate change disclosure.
Stonepeak’s existing ESG program includes robust internal processes and policies to assess and manage ESG aspects of investments, actively championing ESG-related initiatives in partnership with portfolio company management teams, and a consistent approach to data collection and reporting across its portfolio. Over the past year, Stonepeak has been working to enhance the carbon-related reporting of its operations as well as those of its majority-owned companies, and the firm expects to report the results of those efforts in 2022 via disclosures aligned to the Task Force on Climate-Related Financial Disclosures. The firm is actively using the data it has collected to formulate holistic, long-term environmental goals that directly apply to the firm’s investments in different sectors.
Stonepeak CEO and Co-Founder Michael Dorrell said, “Responsible investing has been a core priority for Stonepeak, and we have consistently integrated ESG into our investment decisions and approach to asset management. We are committed to expanding our approach to ESG and look forward to leveraging Ben’s more than 20 years of experience in this area as we continue to accelerate Stonepeak’s existing ESG efforts across our portfolio.”
Ben Harper added, “I am excited to join Stonepeak and work with the entire team to further formalize and expand the firm’s existing ESG efforts and impact. Stonepeak is a leader in infrastructure investing and the firm is at an exciting point in its continued growth. I look forward to helping Stonepeak build on its commitment to responsible investing in close partnership with Mike and the team and identifying additional opportunities to drive greater impact.”
In Mr. Harper’s more than 20 years with Zurich, he also served in Head of Environmental and Climate Product Officer roles for the company, leading a broad remit of environmental sustainability initiatives. Earlier in his career, Mr. Harper was Director of Assessments and Compliance at Clayton Group Services where he leveraged his engineering background to oversee a large technical team and was responsible for managing a robust pipeline of complex environmental assessment projects.
Mr. Harper currently sits on two advisory boards for the American Society of Civil Engineers (ASCE) – the Committee on Climate and the Committee on Sustainability – tasked with developing standards for integrating climate and sustainability considerations and metrics into global construction standards including infrastructure. He is also a member of the National Academy of Sciences Transportation Research Board (TRB) Committee on Extreme Weather and Climate Change Adaptation, responsible for developing resilience practices in the transportation sector, and a committee member for the Coalition for Climate Resilient Investment (CCRI). He holds a Bachelor of Science degree in Civil and Environmental Engineering from Southern Polytechnic State University.
To learn more about the Stonepeak’s approach to ESG, access Stonepeak’s 2020 ESG Report and 2020 Global Renewables Fund Impact Report at www.stonepeakpartners.com/environmental-social-governance/.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $39 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, power and renewable energy, transport and logistics, and water. Stonepeak is headquartered in New York with offices in Houston, Austin and Hong Kong. For more information, please visit www.stonepeakpartners.com.
Media:
Kate Beers
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646-540-5225
ATLANTA--(BUSINESS WIRE)--PIC Group, a global power and energy service provider with renewable energy experience, has been awarded the support services staffing agreement for multiple renewable energy projects by a leading provider of clean renewable power in the US, with one of the largest renewable asset bases of any company in the world. PIC Group will provide a range of highly qualified project personnel to supplement the construction and engineering organization for as many as 20 solar and wind generation projects across more than 10 states through 2024.
PIC Group’s global staffing and recruiting services ensure a rapid response in accurately matching the specific technical skill sets with highly qualified personnel that can adapt to keep pace and respond promptly for all of the customer’s renewable energy project needs as well as eliminating the cost of scaling up or down thru transitional periods.
“PIC Group looks for ways to create incremental value above and beyond the provision of experienced and qualified personnel,” said Frank Avery, President and CEO at PIC Group. “It is our view that PIC Group should utilize our expertise in forming top-performing project teams to ensure a level of quality and productivity that exceeds project expectations and enables our customers to achieve their goals and objectives across multiple projects.”
About PIC Group
Founded in 1988, PIC Group, Inc. is dedicated to delivering value by providing global energy services to facilities across four continents – North America, South America, Asia and Africa. PIC provides O&M Services (Care, Custody and Control), Commissioning and Startup, Documentation & Training and Staffing services and serves the power generation, oil and gas, petrochemical, pulp and paper and manufacturing industries.
PIC Group, Inc. is a wholly owned subsidiary of Marubeni Corporation, a Fortune Global 500 Company. Marubeni is a major Japanese sogo shosha (international trading company) and the third largest global independent power producer (IPP).
About Marubeni
Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business including consumer products, food, agriculture, chemicals, energy and metals and power business machinery and infrastructure.
Douglas Shuda, Marketing Director
678-627-4142
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Investment led by Tiger Global and the Drawdown Fund, with participation from new investors Wellington Management, Reimagined Ventures, Camber Creek, MCJ Collective, and existing investors Energy Impact Partners, G2 Venture Partners, Inclusive Capital, and BoxGroup
Funding scales business to meet the rapidly growing community solar market and supports new product innovation to digitize and expand clean energy access
WASHINGTON--(BUSINESS WIRE)--Arcadia, the climate-crisis-fighting technology company unlocking nationwide access to energy data and renewables, today announced a $100 million Series D funding round led by Tiger Global Management and the Drawdown Fund with participation from new investors Wellington Management, Reimagined Ventures (the family office of Alec Litowitz, founder of Magnetar Capital), Camber Creek, MCJ Collective, and existing investors Energy Impact Partners, G2 Venture Partners, Inclusive Capital, and BoxGroup. Combined with the Company’s previously undisclosed $21 million Series C-1 in December 2020, Arcadia has now raised $180 million in total funding.
The new round of capital will be used to accelerate Arcadia's technology roadmap, expanding product capabilities across new verticals including electric vehicles and distributed energy resources to catalyze innovation in the sector, making renewables accessible and affordable for all. In addition, the company will continue to attract top talent, and rapidly scale the Company’s industry-leading community solar portfolio across the residential and business sectors.
"For years, utility customers have lacked data and clean energy access because of the monopoly structure. Access to energy data is a critical tool in helping customers navigate rapid electrification in sectors like transportation and home energy generation and storage," said Kiran Bhatraju, CEO and Founder of Arcadia. “This latest validation from our investment partners will enable us to continue to break down the long-existing barriers to cheaper, cleaner energy and better advocate on behalf of customers in our confusing and fragmented energy market."
Today’s investment endorses Arcadia’s mission to democratize access to energy data and renewables as an innovative solution to fight climate change. The funding follows a year of rapid expansion for Arcadia, including entering new markets with acquisitions of Real Simple Energy, a Texas retail energy broker focused on customer bill savings, and Nanogrid, which provides personalized data solutions for home energy products.
To support its growth, the Company strengthened its executive team with the recent additions of Chief Financial Officer John Rucker (ex-Rent the Runway, Yahoo, and General Assembly) and Chief Data Officer Nancy Hersh (ex-Opower). Among other recent achievements, Arcadia expanded the nation’s largest community solar management portfolio to 500 Megawatts which will prevent more than 11,500,000 metric tons of lifetime carbon from impacting the environment.
“Arcadia is leading the way in providing consumers in the US with clean, low-cost energy,” said Evan Feinberg, Partner, Tiger Global. “We’re excited to back the company as they make clean energy more accessible and deepen their relationships with customers.”
"Arcadia is a game-changing business for renewable developers and new energy providers,” said Erik Snyder, CEO of the Drawdown Fund. “We expect dramatic growth in community solar and the broader enablement of distributed solar over the coming decade, and we are thrilled to work with a market leader integral to advancing the clean energy revolution.”
To learn more about how this funding round will further Arcadia's vision of a 100 percent decarbonized and decentralized energy future, please visit Kiran’s blog post about today’s news.
Visit the Arcadia Careers page for opportunities to join the mission.
ABOUT ARCADIA
Arcadia is a climate crisis-fighting technology company founded in 2014 and born out of a simple idea: everyone deserves access to clean energy. Arcadia is disrupting the fossil fuel monopoly through unprecedented access to energy data and renewable energy sources. The Arcadia Platform fuels the Internet-of-energy revolution by accessing more than 80 percent of US electric utility accounts nationwide and is the largest manager of community solar subscribers in the United States. Arcadia is obsessed with making energy smarter and turning a decentralized, decarbonized power grid from a distant dream into a tangible reality. Join us in our mission and find out how you or your business can help achieve the vision of a 100 percent clean energy future at www.arcadia.com.
Thomas Meyer
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BOSTON--(BUSINESS WIRE)--Customer-sited solar is a major untapped opportunity, which could see 167 million households and 23 million businesses worldwide hosting their own clean power generation by 2050, according to a joint report by research firm BloombergNEF (BNEF) and Schneider Electric. These deployments will unlock major decarbonization benefits, but policy and tariff design will be critical to enable them.
The report ‘Realizing the Potential of Customer-Sited Solar’ finds that rapidly falling costs of solar technology have already made it economical for homes and businesses to generate their own power in some markets. In Australia, for example, the payback period for households investing in solar has been favorable, at less than 10 years, since 2013. As a result, adoption has already taken off, with more than 2.5 gigawatts of residential solar added in 2020 alone.
These solar installations can generate economic returns for the hosting homes and businesses, as well as wider benefits in terms of carbon emissions reductions, peak load reductions, and employment opportunities.
“Customer-sited solar is a huge opportunity that’s often completely overlooked. Thanks to falling costs and policy measures, it’s already being rapidly deployed in some markets. Its massive scale up is very likely,” said Vincent Petit, Head of the Schneider Electric TM Sustainability Research Institute, and SVP of Global Strategy Prospective & External Affairs at Schneider Electric. “This is vital for decarbonizing the power sector and offers huge additional consumer benefits. It’s time to embrace this transformation.”
Kick-starting the market
Experience shows that solar adoption mainly occurs when there is an economic case for the households and businesses investing in the technology, usually in the form of high internal rates of return (IRR) or short payback periods. In regions where the economics have not yet reached such tipping points, policy makers are introducing targeted incentives to create favorable market conditions and bring forward deployment.
One such example is France, where existing incentives mean that residential solar can earn internal rates of return of around 18.5% (a five-year payback), and commercial installations achieve 10.4% IRR (or a nine-year payback). This has stimulated gradual growth in the market, to about 500 megawatts of installations in 2020.
A key consideration at the early stage of market development is to avoid an unsustainable boom. Policy designs should account for the fact that solar costs will continue to fall over time, and moderate support to reflect these changing dynamics.
Solar for new-build homes and businesses
The economic case for adding solar during construction of new buildings is particularly strong. This is because so-called ‘soft costs’, such as marketing and sales costs, as well as labor and construction costs, can be reduced, while the benefits remain the same. In California, the economic case for adding residential solar on existing homes is already good at 20% IRR, but the new report estimates that this figure is twice as high, at 40% IRR, when solar is added at the point of construction. In France, the IRR for residential solar could be boosted to 28% when added during new construction.
Introducing energy storage and flexibility
As solar markets develop and mature, policy makers and regulators must gradually shift their emphasis toward unlocking flexibility and encouraging the adoption of energy storage. This is because high levels of solar adoption can lead to excess energy production during the day, while also possibly destabilizing the power grid. At this stage, the addition of energy storage becomes valuable, as it allows the renewable electricity to be stored for use during evening hours.
“The evolution of customer-sited solar is to add some form of flexibility, which has the ability to unlock a much higher penetration of solar,” said Yayoi Sekine, BNEF’s Head of Decentralized Energy. “The most obvious form of flexibility is batteries, but energy storage will come in many forms, including shifting demand and using electric vehicles.”
Tools to encourage energy storage include adjusted export rates (the payments offered to solar owners when they export energy to the grid), time-of-use retail electricity rates (which reflect the lower generation costs of solar during the daytime), enabling payments for storage to provide grid services (sometimes called aggregation payments), and implementation of demand charges (primarily for business customers). These levers are generally meant to make rates more reflective of generation and grid costs but are also likely to encourage energy storage.
In California, for example, reducing export rates to 35% of retail tariffs, while it would damage the economics of solar overall, would shift the emphasis over to solar systems paired with storage, which would still generate a 13% IRR. For commercial and industrial installations, adding so-called aggregation payments for batteries would boost IRRs to 22.8%, making solar-plus-storage a more attractive option than solar alone.
The report investigates these mechanisms in depth, and provides individual use case analysis for France, Spain, Australia, California (U.S.) and New Jersey (U.S.), as example of markets at different stages of maturity. The full report is available via the following link.
About BloombergNEF
BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
About Bloomberg
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Schneider Electric Media Relations – Thomas Eck, This email address is being protected from spambots. You need JavaScript enabled to view it.
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Manufacturing facility energy storage system now operating on Stem’s Athena® software
Project part of joint venture with Copec
SAN FRANCISCO--(BUSINESS WIRE)--Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, and Copec, one of the largest energy companies in Central and South America, today announced the development of South America’s first virtual power plant (VPP) as well as the completion of their first smart energy storage system in Chile. The companies will be working together with Chilquinta Energía S.A. (“Chilquinta”), a local energy supply service company.
In July 2020, Stem and Copec announced a partnership to bring Stem’s intelligent storage solutions to South America, marking the Company’s entrance into this region. The partnership recently completed its first project, a smart energy storage solution for a lubricant manufacturing plant owned by Copec in the Valparaíso Region of Chile.
In addition, Stem and Copec have partnered with Chilquinta to establish the first VPP, a network of decentralized behind-the-meter (BTM) power generating sites, in all of South America. For this project, Stem’s Athena® smart energy storage software has been customized to integrate utility and grid market data points that optimize energy storage assets in the Chilean market. This partnership also involves future collaboration to bring smart energy storage alongside mutual business activities in electric vehicle charging infrastructures and solar project developments.
Stem’s Athena allows this network of commercial and industrial (C&I) customer sites to deliver both resilience and backup power solutions by automatically aggregating and responding to spikes in electricity use and drawing on stored power to reduce electricity costs for customers. Athena also ensures continuous power and consistent operations to serve the utility’s real-time needs, demonstrating the ability to dispatch all the sites when power is needed on the grid. Stem combines this electricity usage and deployment information with data from renewable generation forecasting and monitoring so the utility can effortlessly call upon the stored electricity for added stability during peak demand times. Athena is continuously collecting electricity usage data, creating a virtuous cycle of learning and deep insights to better inform its AI-driven algorithm.
“The energy storage market in South America represents a significant growth opportunity for Stem and our partner Copec,” said John Carrington, Chief Executive Officer at Stem. “We are proud to have completed our first project under this partnership – positioning Copec as a smart grid participant while driving energy cost reduction and enhancing the sustainability profile of their manufacturing facilities. At the same time, our VPP is set to demonstrate tremendous value to utilities in South America that can leverage distributed energy storage systems to stabilize the grid, similar to what Stem’s Athena® smart energy storage software is doing in other regions today. I am excited about our future in South America and the benefits we will bring to businesses, utilities, and energy customers.”
“Copec is focused on driving innovation and sustainability across the energy and mobility segments,” added Mauricio de la Torre, New Energies Leader at Copec. “Through our partnership with Stem, we have begun to demonstrate the investment returns of smart energy storage and the tremendous potential for Copec to help Chile meet its ambitious climate goals.”
Chile is among the most favorable markets for solar energy with one of the highest solar irradiances and potential for solar generation in the world. Chile has announced in recent years that it will not build new coal-fired power plants and will align with the National Energy Policy 2050, an ambitious set of climate change and renewable energy efficiency goals, for which Chile targets 70% renewable energy electricity by 2030 and carbon neutrality by 2050. After hosting the UN Climate Change Conference in 2019, the country leads South America in sustainability strategies. Chile is projected to have a combined opportunity for energy storage nearing 1 GWh over the next decade, based on market estimates from Copec and its subsidiary, Terpel.
About Stem, Inc.
Stem, Inc. (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
About Copec
Copec is one of the leading energy companies in Central and South America. It was founded in Chile in 1934 and today is also present in Colombia, Panama, Ecuador, Peru and the Dominican Republic (through Terpel) and in the southeast United States (through Mapco). With a robust network of over 3,000 fuel stations and over 1,200 convenience stores in the continent, the company also has leading presence in strategic sectors of the industry including aviation, electric generation, mining, fishing, and transport, among others. Always focused on customer service and innovation, Copec is also working to lead the change for a new era in mobility, energy and convenience, faithful to its promise to facilitate the life in movement.
Cautionary Statement Regarding Forward-Looking Statements
This press release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “forecast,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “think,” “should,” “could,” “would,” “will,” “hope,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as the opportunity for business growth in South America; the expected benefits of our partnership with Copec; and expected resulting benefits to businesses, utilities and energy customers in South America. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon assumptions and estimates that, while considered reasonable by Stem and its management, depend upon inherently uncertain factors and risks that may cause actual results to differ materially from current expectations, including our inability to achieve business growth in South America; our inability to recognize the anticipated benefits of our partnership with Copec, as well as related expected benefits to businesses, utilities and energy customers in South America; risks relating to the development and performance of our energy storage systems and software-enabled services; the risk that the global commitment to decarbonization may not materialize as we predict, or even if it does, that we might not be able to benefit therefrom; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; our inability to secure sufficient inventory from our suppliers to meet customer demand, and provide us with contracted quantities of equipment; supply chain failures or interruptions; manufacturing or delivery delays; disruptions in sales, production, service or other business activities; our inability to help reduce GHG emissions; our inability to seamlessly integrate and optimize energy resources; our inability to attract and retain qualified personnel; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; the effects of competition; and other risks and uncertainties set forth in the section entitled “Risk Factors” in the registration statement on Form S-1 filed with the SEC on July 19, 2021, and our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date hereof, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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Stem Media Contacts
Cory Ziskind, ICR
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Wind Turbine Inspection Drones Market: Prospects, Trends Analysis, Market Size and Forecasts up to 2026" report has been added to ResearchAndMarkets.com's offering.
The research report on Saudi Arabia wind turbine inspection drones market is a customer intelligence and competitive study of the Saudi Arabia market.
Moreover, the report provides deep insights into demand forecasts, market trends, and, micro and macro indicators in the Saudi Arabia market. Also, factors that are driving and restraining the wind turbine inspection drones market are highlighted in the study. This is an in-depth business intelligence report based on qualitative and quantitative parameters of the market.
Additionally, this report provides readers with market insights and detailed analysis of market segments to possible micro levels. The companies and dealers/distributors profiled in the report include manufacturers & suppliers of wind turbine inspection drones market in Saudi Arabia.
Highlights of the Report
The report provides detailed insights into:
The report answers questions such as:
Key Topics Covered:
1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
2. Executive Summary
3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for Saudi Arabia Wind Turbine Inspection Drones Market
3.5. Growth Matrix Analysis
3.6. Competitive Landscape in Saudi Arabia Wind Turbine Inspection Drones Market
4. Saudi Arabia Wind Turbine Inspection Drones Market by Product Type
4.1. Fixed Wings Drones
4.2. Rotary Wing Drones
4.3. Others
5. Saudi Arabia Wind Turbine Inspection Drones Market by Application
5.1. Offshore Wind Energy
5.2. Onshore Wind Energy
6. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/yx3wrk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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