Business Wire News

DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy Operations, LLC (“LREO”) today announced that it has posted to its secure investor relations site key operating and financial results for the third quarter 2022, and that it will hold an investor conference call on December 9, 2022, at 10:00 a.m. CST. Investors who hold LREO’s 4.250% Senior Notes due in 2029, prospective investors, broker-dealers, and securities analysts are invited to join the investor call.


Details to access the investor call will be posted to LREO’s secure investor relations site.

For information on how to access the site, visit https://www.leewardenergy.com/request-access/ or contact Investor Relations at This email address is being protected from spambots. You need JavaScript enabled to view it..

About Leeward Renewable Energy Operations, LLC

LREO is wholly owned by Leeward Renewable Energy (LRE), a leading renewable energy company that owns and operates a portfolio of 25 renewable energy facilities across nine states totaling more than 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction spanning over 100 projects. LRE is committed to providing long-term, sustainable energy solutions across all its projects that benefit its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$121 billion in net assets (as of December 31, 2021). For more information, visit www.leewardenergy.com.


Contacts

Kelly Kimberly
713.822.7538
Liz James
281.881.5170
FGS Global
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Trilliant’s technology and expertise to further enable ESB Networks as it upgrades electricity meters in homes, farms and businesses in the Republic of Ireland

FRANKFURT, Germany--(BUSINESS WIRE)--#energy--Enlit Europe 2022 – Trilliant, a leading international provider of solutions for advanced metering infrastructure (AMI), smart grid, smart cities and IIoT, announced that its UK division, Trilliant Networks Operations (UK) Ltd., has been selected by ESB Networks as one of the suppliers to provide smart meters in support of the rollout of Ireland’s National Smart Metering Programme (NSMP). The programme aims to make it easier for customers to manage their energy use, save money and lower their carbon footprint.


Under the terms of the agreement, Trilliant and its partner, Holley Technology Ltd., will be responsible for supplying ESB Networks with Three Phase meters including implementation, testing, maintenance and support for the meters. With Trilliant and Holley’s expertise and technology, homes, farms and businesses will benefit with greater energy efficiency, more accurate billing, improved network management and more.

As part of the National Climate Action Plan, ESB Networks is tasked with upgrading all electricity meters in the Republic of Ireland to smart meters. Trilliant has been an approved ESB Networks supplier for smart meters and related services since 2021, when a framework agreement for head end systems, meter data management systems and security architecture was signed.

“We’re thrilled to work with ESB Networks and supply best-in-class technology and support for this transformative project in Ireland,” said Tom Tipple, Managing Director of the Europe, Middle East, and Africa Region, for Trilliant. “Through this partnership, our work together will result in secure, reliable solutions that can transform ESB Networks’ utility system.”

“Our meter replacement programme is helping to ensure a greener, more sustainable Ireland,” said Carmel O’Connor, Smart Metering Project Manager, at ESB Networks. “We’re delighted to partner with Trilliant in this next phase of our deployment plan, which will ultimately provide homeowners and businesses with increased choice, and better and more accessible information about their energy consumption.”

Trilliant and Holley will work closely with ESB Networks on the final design to ensure the meters are fully compliant with ESB Networks’ needs and requirements for their intended purpose, through phase 3 of ESB Networks’ national deployment programme.

About Trilliant

Trilliant® empowers the global energy industry with the only device-agnostic communications platform that enables utilities and cities to deploy any application securely and reliably on one powerful network. Our purpose-built portfolio is designed to offer the power of choice, without risk of customers being “locked in” with one technology provider or meter manufacturer. We are proud to offer mission-critical solutions that support AMI, Data & Analytics, Smart Metering, Smart Grids and Smart Cities. Customers worldwide benefit from Trilliant’s unique combination of flexibility, sustainability and scalability that connects utilities and cities to the II0T and a more strategic path to the Energy Transition. Visit us at www.trilliant.com.


Contacts

Tracey Mitchell
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Cindy Watson/Anita Wong
StrategicAmpersand Inc.
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SACRAMENTO, Calif.--(BUSINESS WIRE)--#CFP--e-Mission Control, a clean fuel program partner for zero-emission fleets, today released a new podcast “The Charge Cycle.” Available on all the major podcast platforms, the program will host clean energy experts and industry veterans to discuss factors driving the electrification transition. The program will cover topics like public funding opportunities, vehicle-readiness and cutting-edge OEM and EVSE technologies, infrastructure, regulatory updates, and more. It will also host discussions with the myriad of different fleet owners and operators in all different industries and verticals to get a true realistic perspective of the current state of affairs of electrification.



The Charge Cycle is hosted by e-Mission Control’s CEO Todd Trauman. For over a decade, Todd has worked with a wide variety of fleet operators, OEMs, and regulatory agencies at the local and federal level to advance the state of affairs of greenhouse gas reduction technologies in the transportation sector. He leverages specific experience in zero-emission technologies, alternative fuels, clean fuel program frameworks, onboard diagnostics systems, certification requirements, and much more.

“Our podcast is designed to help listeners stay ahead of the enormous electrification shift underway,” said Todd. “Our guests have a range of expertise and we are honored to have such a great line-up straight out of the gate.”

New episodes of The Charge Cycle will be released bi-monthly. Guests from the first four episodes include funding expert Matt Hart of Momentum speaking about public funding for electrification projects, veteran in the clean technology space, Chris White of Frontier Energy speaking about preparing your business for the electrification revolution, Fleet-as-a-Service (FaaS) pioneer Matt LeDucq of Forum Mobility speaking about FaaS as a Solution for California’s Advanced Clean Fleets Rule and Alex Vikartofsky of Advanced Technical Services (ATS) speaking about fast, reliable electric vehicle charger maintenance and repair.

“Any given entity needs to decide what’s their risk appetite,” said Matt Hart on funding. “Are they willing to be the first person to put this new forklift, or put this new gantry crane to work. Or do they want to wait until it’s a little more proven and they’re looking for some incentive programs that will buy down the costs. That will help dictate and focus what programs they should be evaluating.”

“I look at what systems need to be put into place, what behaviors need to change and how do we enable people to do things better, cheaper, or faster than what they’ve done before,” said Chris White, reflecting on fleet electrification.

“In 2021 we thought there was going to be a need, and we still think this, that there will be a big need for large third-party depots,” said Matt LeDucq of Forum Mobility. “The amount of charging infrastructure that needs to be managed and the amount of fleets that are going to need to be put into depots is just immense…And that’s where Forum Mobility was born.”

If you would like to be a podcast guest, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..

About e-Mission Control

e-Mission Control is a SaaS company that designs, manages, and executes electricity consumption data platforms and services for forward-thinking on- and off-road vehicle fleet operators. With a specific focus on clean fuel programs in California, Oregon, Washington, and British Columbia, e-Mission Control partners with owners and operators of zero-emission vehicles and equipment at airports, seaports, retailers, grocers, manufacturers, campuses, distribution facilities, municipalities, and many others along the West Coast and beyond. For more information, please visit www.e-missioncontrol.com.

You can also follow e-Mission Control on Twitter, Facebook, and LinkedIn.


Contacts

Colleen Harrison
Telephone:(916) 261-6483
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Strategic Agreement with Studsvik Expands Capabilities at Springfields Site

CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company today signed a Technology License Agreement with Studsvik to develop a Metals Recycling and Treatment Facility at its Springfields site in Lancashire, UK.



Innovative and carbon-neutral solutions are required to process the hundreds of thousands of tons of contaminated metals expected from nuclear decommissioning projects globally. The ability to clean, melt and recycle metals is recognized as a sustainable and cost-effective alternative to disposal. The facility’s goal is to recycle around 90 percent of the processed metals for re-use in the open market.

The Westinghouse recycling facility will feature a metal melter as the core technology, to clean, treat and recycle contaminated metals and large components. The agreement provides access to Studsvik’s proven melting technology experience and know-how in the field of metallic treatment, significantly enhancing the design and operation of the new facility.

“We look forward to supporting Westinghouse in delivering this new melting facility which will deliver significant benefits to the environment through the recycling of contaminated metals," said Mikael Karlsson, Business Areas President, Waste Management Technology from Studsvik.

“Bringing together the Westinghouse capabilities and existing infrastructure at our Springfields site, with the metals treatment expertise of Studsvik, will create a sustainable solution for contaminated metals for our customers and bring long-term jobs and investment to the Lancashire region,” said Kirsty Armer, Vice President of Westinghouse Environmental Services UK.

The Springfields Melter for Advanced Recycling and Treatment (SMART) facility forms part of Westinghouse’s development of a wider nuclear material management hub at its Springfields site and expands Westinghouse’s global decommissioning and waste management market offerings. The facility development and operations will bring investment and jobs into the Lancashire region - supporting approximately 150 jobs during construction and 40 full-time jobs during operation.

Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.


Contacts

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Third quarter fiscal 2023 revenue of $125 million representing 93% year-over-year growth

  • GAAP and Non-GAAP gross margin both improved 1 percentage point quarter-over-quarter
  • ChargePoint guides to fourth quarter fiscal 2023 revenue of $160-$170 million; full-year revenue guidance range revised upward $5 million from previous midpoint to $475 million to $485 million
  • ChargePoint guides to improving operating leverage with full fiscal year Non-GAAP operating expenses of $325-$335 million, a decrease of $30 million from prior guidance at midpoint

CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE:CHPT) (“ChargePoint”), a leading electric vehicle (EV) charging network, today reported results for its third quarter of fiscal 2023 ended October 31, 2022.


“ChargePoint delivered another quarter of growth exceeding 90% year-over-year, as we continue to scale the business to meet strong demand for our solutions across North America and Europe,” said Pasquale Romano, President and CEO of ChargePoint. “Our networked, asset-light business model continues to enable our growth as we strive to deliver improved margins and operating leverage.”

Third Quarter Fiscal 2023 Financial Overview

  • Revenue. Third quarter revenue was $125.3 million, up 93% from $65.0 million in the prior year’s same quarter. Networked charging systems revenue for the third quarter was $97.6 million, up 105% from $47.5 million in the prior year’s same quarter and subscription revenue was $21.7 million, up 62% from $13.4 million in the prior year’s same quarter.
  • Gross Margin. Third quarter GAAP gross margin was 18%, down from 25% in the prior year's same quarter primarily due to supply chain disruptions, which affected both cost and supply availability, and increased new product introduction and transition costs. Third quarter non-GAAP gross margin, which primarily excludes stock-based compensation expense and amortization from acquired intangible assets, improved sequentially to 20%, but was down from 27% in the prior year's same quarter due to the same factors.
  • Net Income/Loss. Third quarter GAAP net loss was $84.5 million, as compared to $69.4 million in the prior year's same quarter. Non-GAAP pre-tax net loss in the third quarter, which excludes $25.7 million in stock-based compensation expense, $2.8 million amortization expense from acquired intangible assets and other items, was $56.4 million as compared to $47.3 million in the prior year's same quarter.
  • Liquidity. As of October 31, 2022, cash and short term investments on the balance sheet were $397.6 million.
  • Shares Outstanding. As of October 31, 2022, there were approximately 342 million shares of common stock outstanding.

For a reconciliation of GAAP to non-GAAP results, please see the tables below.

Fourth Quarter and Full Year Guidance

For the fourth fiscal quarter ending January 31, 2023, ChargePoint expects:

  • Revenue of $160 million to $170 million. At the midpoint, this represents an anticipated increase of 108% as compared to the prior year’s same quarter
  • A sequential Non-GAAP gross margin improvement from the third quarter's 20%, resulting in annual gross margin below previous guidance

For the full fiscal year ending January 31, 2023, ChargePoint expects:

  • Revenue of $475 million to $485 million. At the midpoint, this represents an anticipated increase of $5 million as compared to previous guidance
  • Non-GAAP operating expenses of $325 million to $335 million. At the midpoint, this represents an anticipated decrease of $30 million as compared to previous guidance

Guidance for non-GAAP financial measures excludes stock-based compensation expense, amortization expense of acquired intangible assets, acquisition earn-out-related payroll tax expense, and non-recurring costs and professional services fees related to acquisitions and security offerings. ChargePoint is not able to present a reconciliation of its non-GAAP financial guidance to the corresponding GAAP measures because certain items that impact these measures are uncertain or out of its control, or cannot be reasonably predicted, including stock-based compensation expense, without unreasonable effort. The actual amounts of such reconciling items will have a significant impact on ChargePoint's GAAP gross margin and GAAP operating expenses.

Conference Call Information

ChargePoint will host a webcast today at 1:30 p.m. Pacific / 4:30 p.m. Eastern to review its third quarter fiscal 2023 financial results and its outlook for the fourth quarter of and full year fiscal 2023.

Investors may access the webcast, supplemental financial information and investor presentation at ChargePoint’s investor relations website (investors.chargepoint.com) under the “Events and Presentations” section. A replay will be available three hours after the conclusion of the webcast and archived for one year.

About ChargePoint

ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 133 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..

Forward-Looking Statements

This press release contains forward-looking statements that involve risks, uncertainties, and assumptions including statements regarding our financial outlook for the fourth fiscal quarter and fiscal year ending January 31, 2023. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the impact of the ongoing COVID-19 pandemic, geopolitical events including the Russian invasion of Ukraine, macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy, our business and those of our customers and suppliers, including due to supply chain disruptions, component shortages and expense increases; our limited operating history as a public company; our ability as an organization to successfully acquire and integrate other companies, products or technologies in a successful manner; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions, delays and expense increases may adversely affect our sales, revenue and gross margins; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins due to new product introductions, supply chain disruptions, component shortages and related expense increases or if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on September 8, 2022, which is available on our website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.

Use of Non-GAAP Financial Measures

ChargePoint has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). ChargePoint uses these non-GAAP financial measures internally in analyzing its financial results and believes that the use of these non-GAAP financial measures is useful to investors to evaluate ongoing operating results and trends, and in comparing ChargePoint’s financial results with other companies in its industry as well other technology companies, many of which present similar non-GAAP financial measures.

The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with ChargePoint’s consolidated financial statements prepared in accordance with GAAP. A reconciliation of ChargePoint’s historical non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review these reconciliations.

Non-GAAP Gross Profit (Gross Margin). ChargePoint defines non-GAAP gross profit as gross profit excluding amortization expense of acquired intangible assets and stock-based compensation expense. Non-GAAP gross margin is non-GAAP gross profit as a percentage of revenue.

Non-GAAP Cost of Revenue and Operating Expenses (includes Non-GAAP research and development, Non-GAAP sales and marketing and Non-GAAP general and administrative). ChargePoint defines Non-GAAP cost of revenue and operating expenses as cost of revenue and operating expenses excluding amortization expense of acquired intangible assets, stock-based compensation expense, earn-out-related payroll tax expense, and non-recurring costs and professional services fees associated with acquisitions and registration filings, and non-cash charges related to tax liabilities.

Non-GAAP Net Loss. ChargePoint defines non-GAAP net loss as net income (loss) excluding amortization expense of acquired intangible assets, stock-based compensation expense and the associated stock-based payroll tax expense, earn-out-related payroll tax expense, offering costs allocated to warrant liabilities, non-recurring costs and professional services fees associated with acquisitions and registration filings, and non-cash charges related to the revaluation of warrants, tax liabilities, earn-out liabilities, and other financial instruments. These amounts do not reflect the impact of any related tax effects. Non-GAAP pre-tax net loss is non-GAAP net loss adjusted for provision for income taxes.

Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures to analyze financial results and trends. In particular, many of the adjustments to ChargePoint’s GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in its financial results for the foreseeable future, such as stock-based compensation, which is an important part of ChargePoint’s employees’ compensation and impacts hiring, retention and performance. Furthermore, these non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP, and the components that ChargePoint excludes in its calculation of non-GAAP financial measures may differ from the components that other companies exclude when they report their non-GAAP results. ChargePoint compensates for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. In the future, ChargePoint may also exclude other expenses it determines do not reflect the performance of ChargePoint’s operating results.

CHPT-IR

ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts; unaudited)

 

 

Three Months Ended

October 31,

 

Nine Months Ended

October 31,

 

 

2022

 

 

 

2021

 

 

 

2022

 

 

 

2021

 

Revenue

 

 

 

 

 

 

 

Networked charging systems

$

97,592

 

 

$

47,511

 

 

$

241,291

 

 

$

115,185

 

Subscriptions

 

21,670

 

 

 

13,397

 

 

 

59,561

 

 

 

36,303

 

Other

 

6,079

 

 

 

4,126

 

 

 

14,415

 

 

 

10,177

 

Total revenue

 

125,341

 

 

 

65,034

 

 

 

315,267

 

 

 

161,665

 

Cost of revenue

 

 

 

 

 

 

 

Networked charging systems

 

85,821

 

 

 

38,720

 

 

 

216,439

 

 

 

97,846

 

Subscriptions

 

13,400

 

 

 

7,637

 

 

 

37,305

 

 

 

21,107

 

Other

 

3,439

 

 

 

2,621

 

 

 

8,581

 

 

 

6,662

 

Total cost of revenue

 

102,660

 

 

 

48,978

 

 

 

262,325

 

 

 

125,615

 

Gross profit

 

22,681

 

 

 

16,056

 

 

 

52,942

 

 

 

36,050

 

Operating expenses

 

 

 

 

 

 

 

Research and development

 

48,132

 

 

 

36,751

 

 

 

148,237

 

 

 

102,535

 

Sales and marketing

 

35,382

 

 

 

24,361

 

 

 

101,842

 

 

 

62,258

 

General and administrative

 

22,445

 

 

 

20,268

 

 

 

66,339

 

 

 

57,467

 

Total operating expenses

 

105,959

 

 

 

81,380

 

 

 

316,418

 

 

 

222,260

 

Loss from operations

 

(83,278

)

 

 

(65,324

)

 

 

(263,476

)

 

 

(186,210

)

Interest income

 

1,905

 

 

 

25

 

 

 

3,471

 

 

 

72

 

Interest expense

 

(2,606

)

 

 

(3

)

 

 

(6,467

)

 

 

(1,502

)

Change in fair value of redeemable convertible preferred stock warrant liability

 

 

 

 

 

 

 

 

 

 

9,237

 

Change in fair value of assumed common stock warrant liabilities

 

 

 

 

(2,429

)

 

 

(24

)

 

 

30,911

 

Change in fair value of contingent earnout liability

 

 

 

 

 

 

 

 

 

 

84,420

 

Transaction costs expensed

 

 

 

 

 

 

 

 

 

 

(7,031

)

Other expense, net

 

(943

)

 

 

(2,025

)

 

 

(2,646

)

 

 

(2,200

)

Net loss before income taxes

 

(84,922

)

 

 

(69,756

)

 

 

(269,142

)

 

 

(72,303

)

Benefit from income taxes

 

(442

)

 

 

(314

)

 

 

(2,696

)

 

 

(211

)

Net loss

$

(84,480

)

 

$

(69,442

)

 

$

(266,446

)

 

$

(72,092

)

Cumulative undeclared dividends on redeemable convertible preferred stock

 

 

 

 

 

 

 

 

 

 

(4,292

)

Deemed dividends attributable to vested option holders

 

 

 

 

 

 

 

 

 

 

(51,855

)

Deemed dividends attributable to common stock warrants holders

 

 

 

 

 

 

 

 

 

 

(110,635

)

Net loss attributable to common stockholders, basic

$

(84,480

)

 

$

(69,442

)

 

$

(266,446

)

 

$

(238,874

)

Gain attributable to earnout shares issued

 

 

 

 

 

 

 

 

 

 

(84,420

)

Change in fair value of dilutive warrants

 

 

 

 

 

 

 

 

 

 

(51,106

)

Net loss attributable to common stockholders, diluted

$

(84,480

)

 

$

(69,442

)

 

$

(266,446

)

 

$

(374,400

)

Net loss per share - Basic

$

(0.25

)

 

$

(0.21

)

 

$

(0.79

)

 

$

(0.84

)

Net loss per share - Diluted

$

(0.25

)

 

$

(0.21

)

 

$

(0.79

)

 

$

(1.28

)

Weighted average shares outstanding - Basic

 

339,595,385

 

 

 

325,034,920

 

 

 

337,037,111

 

 

 

286,025,483

 

Weighted average shares outstanding - Diluted

 

339,595,385

 

 

 

325,034,920

 

 

 

337,037,111

 

 

 

292,575,318

 

ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)

 

 

October 31, 2022

 

January 31, 2022

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

188,273

 

 

$

315,235

 

Restricted cash

 

400

 

 

 

400

 

Short-term investments

 

208,887

 

 

 

 

Accounts receivable, net

 

123,028

 

 

 

75,939

 

Inventories

 

62,449

 

 

 

35,879

 

Prepaid expenses and other current assets

 

58,589

 

 

 

36,603

 

Total current assets

 

641,626

 

 

 

464,056

 

Property and equipment, net

 

38,706

 

 

 

34,593

 

Intangible assets, net

 

89,637

 

 

 

107,209

 

Operating lease right-of-use assets

 

21,890

 

 

 

25,535

 

Goodwill

 

201,742

 

 

 

218,484

 

Other assets

 

6,982

 

 

 

6,020

 

Total assets

$

1,000,583

 

 

$

855,897

 

Liabilities and Stockholders' Equity

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

44,537

 

 

$

27,576

 

Accrued and other current liabilities

 

111,910

 

 

 

84,328

 

Deferred revenue

 

81,912

 

 

 

77,142

 

Total current liabilities

 

238,359

 

 

 

189,046

 

Deferred revenue, noncurrent

 

93,306

 

 

 

69,666

 

Debt, noncurrent

 

294,635

 

 

 

 

Operating lease liabilities

 

22,309

 

 

 

25,370

 

Deferred tax liabilities

 

12,349

 

 

 

17,697

 

Other long-term liabilities

 

1,035

 

 

 

7,104

 

Total liabilities

 

661,993

 

 

 

308,883

 

Stockholders' equity (deficit):

 

 

 

Common stock

 

34

 

 

 

33

 

Additional paid-in capital

 

1,451,711

 

 

 

1,366,855

 

Accumulated other comprehensive loss

 

(35,054

)

 

 

(8,219

)

Accumulated deficit

 

(1,078,101

)

 

 

(811,655

)

Total stockholders' equity

 

338,590

 

 

 

547,014

 

Total liabilities and stockholders' equity

$

1,000,583

 

 

$

855,897

 

ChargePoint Holdings, Inc.

PRELIMINARY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands, unaudited)

 

 

Nine Months Ended

October 31,

 

 

2022

 

 

 

2021

 

Cash flows from operating activities

 

 

 

Net loss

$

(266,446

)

 

$

(72,092

)

Adjustments to reconcile net loss to net cash used in operating activities:

 

 

 

Depreciation and amortization

 

18,562

 

 

 

10,158

 

Non-cash operating lease cost

 

3,539

 

 

 

3,066

 

Stock-based compensation

 

67,644

 

 

 

51,893

 

Amortization of deferred contract acquisition costs

 

1,729

 

 

 

1,291

 

Change in fair value of redeemable convertible preferred stock warrant liability

 

 

 

 

(9,237

)

Change in fair value of common stock warrant liabilities

 

24

 

 

 

(30,911

)

Change in fair value of contingent earnout liabilities

 

 

 

 

(84,420

)

Transaction costs expensed

 

 

 

 

7,031

 

Reserves and Other

 

11,490

 

 

 

1,833

 

Changes in operating assets and liabilities, net of effect of acquisitions:

 

 

 

Accounts receivable, net

 

(50,402

)

 

 

(26,579

)

Inventories

 

(30,057

)

 

 

3,498

 

Prepaid expenses and other assets

 

(24,730

)

 

 

(18,879

)

Operating lease liabilities

 

(3,603

)

 

 

(2,193

)

Accounts payable

 

14,551

 

 

 

10,633

 

Accrued and other liabilities

 

12,638

 

 

 

16,110

 

Deferred revenue

 

28,410

 

 

 

29,715

 

Net cash used in operating activities

 

(216,651

)

 

 

(109,083

)

Cash flows from investing activities

 

 

 

Purchases of property and equipment

 

(14,142

)

 

 

(12,064

)

Purchases of short term investments

 

(284,835

)

 

 

 

Maturities of investments

 

75,000

 

 

 

 

Cash paid for acquisitions, net of cash acquired

 

(2,756

)

 

 

(205,329

)

Net cash used in investing activities

 

(226,733

)

 

 

(217,393

)

Cash flows from financing activities

 

 

 

Proceeds from the exercise of warrants

 

6,354

 

 

 

118,845

 

Merger and PIPE financing

 

 

 

 

511,646

 

Payments of transaction costs related to Merger

 

 

 

 

(32,468

)

Payment of tax withholding obligations on settlement of earnout shares

 

 

 

 

(20,895

)

Proceeds from issuance of debt securities, net of discount and issuance costs

 

293,972

 

 

 

 

Repayment of borrowings

 

 

 

 

(36,051

)

Proceeds from the issuance of common stock under employee equity plans, net of tax withholding

 

10,760

 

 

 

4,214

 

Change in driver funds and amounts due to customers

 

6,911

 

 

 

1,933

 

Net cash provided by financing activities

 

317,997

 

 

 

547,224

 

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

 

(1,575

)

 

 

(748

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

(126,962

)

 

 

220,000

 

Cash, cash equivalents, and restricted cash at beginning of period

 

315,635

 

 

 

145,891

 

Cash, cash equivalents, and restricted cash at end of period

$

188,673

 

 

$

365,891

 

ChargePoint Holdings, Inc.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands, unaudited)

 

 

 

Three Months Ended

October 31, 2022

 

Three Months Ended

October 31, 2021

 

Nine

Months Ended

October 31, 2022

 

Nine

Months Ended

October 31, 2021

Cost of Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP cost of revenue

 

$

102,660

 

 

 

 

$

48,978

 

 

 

 

$

262,325

 

 

 

 

$

125,615

 

 

 

Stock-based compensation expense

 

 

(1,145

)

 

 

 

 

(885

)

 

 

 

 

(3,271

)

 

 

 

 

(3,073

)

 

 

Amortization of intangible assets

 

 

(723

)

 

 

 

 

(426

)

 

 

 

 

(2,091

)

 

 

 

 

(426

)

 

 

Non-GAAP cost of revenue

 

$

100,792

 

 

 

 

$

47,667

 

 

 

 

$

256,963

 

 

 

 

$

122,116

 

 

 

Non-GAAP gross profit (gross margin as a percentage of revenue)

 

$

24,549

 

 

20

%

 

$

17,367

 

 

27

%

 

$

58,304

 

 

18

%

 

$

39,549

 

 

24

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP research and development

 

$

48,132

 

 

 

 

$

36,751

 

 

 

 

$

148,237

 

 

 

 

$

102,535

 

 

 

Stock-based compensation expense

 

 

(10,200

)

 

 

 

 

(5,840

)

 

 

 

 

(27,598

)

 

 

 

 

(20,198

)

 

 

Earn-out-related taxes (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(358

)

 

 

Acquisition-related costs (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(86

)

 

 

Cost related to registration filings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(80

)

 

 

Non-GAAP research and development (as a percentage of revenue)

 

$

37,932

 

 

30

%

 

$

30,911

 

 

48

%

 

$

120,639

 

 

38

%

 

$

81,813

 

 

51

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP sales and marketing

 

$

35,382

 

 

 

 

$

24,361

 

 

 

 

$

101,842

 

 

 

 

$

62,258

 

 

 

Stock-based compensation expense

 

 

(4,962

)

 

 

 

 

(2,251

)

 

 

 

 

(12,793

)

 

 

 

 

(7,018

)

 

 

Earn-out-related taxes (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(424

)

 

 

Acquisition-related costs (2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(43

)

 

 

Cost related to registration filings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(40

)

 

 

Amortization of intangible assets

 

 

(2,114

)

 

 

 

 

(1,092

)

 

 

 

 

(6,562

)

 

 

 

 

(1,092

)

 

 

Non-GAAP sales and marketing (as a percentage of revenue)

 

$

28,306

 

 

23

%

 

$

21,018

 

 

32

%

 

$

82,487

 

 

26

%

 

$

53,641

 

 

33

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP general and administrative

 

$

22,445

 

 

 

 

$

20,268

 

 

 

 

$

66,339

 

 

 

 

$

57,467

 

 

 

Stock-based compensation expense

 

 

(9,391

)

 

 

 

 

(7,046

)

 

 

 

 

(23,982

)

 

 

 

 

(21,604

)

 

 

Earn-out-related taxes (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(713

)

 

 

Acquisition-related costs (2)

 

 

9

 

 

 

 

 

(2,435

)

 

 

 

 

(1,002

)

 

 

 

 

(5,118

)

 

 

Cost related to registration filings

 

 

 

 

 

 

 

(15

)

 

 

 

 

(473

)

 

 

 

 

(2,517

)

 

 

Tax exposures

 

 

 

 

 

 

 

 

 

 

 

 

(990

)

 

 

 

 

 

 

 

Non-GAAP general and administrative (as a percentage of revenue)

 

$

13,063

 

 

10

%

 

$

10,772

 

 

17

%

 

$

39,892

 

 

13

%

 

$

27,515

 

 

17

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP Operating Expenses (as a percentage of revenue)

 

$

79,301

 

 

63

%

 

$

62,701

 

 

96

%

 

$

243,018

 

 

77

%

 

$

162,969

 

 

101

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP net loss

 

$

(84,480

)

 

 

 

$

(69,442

)

 

 

 

$

(266,446

)

 

 

 

$

(72,092

)

 

 

Stock-based compensation expense

 

 

25,698

 

 

 

 

 

16,022

 

 

 

 

 

67,644

 

 

 

 

 

51,893

 

 

 

Earn-out-related taxes (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,495

 

 

 

Acquisition-related costs (2)

 

 

(9

)

 

 

 

 

2,435

 

 

 

 

 

1,002

 

 

 

 

 

5,247

 

 

 

Cost related to registration filings

 

 

 

 

 

 

 

15

 

 

 

 

 

473

 

 

 

 

 

2,637

 

 

 

Tax exposures

 

 

 

 

 

 

 

 

 

 

 

 

990

 

 

 

 

 

 

 

 

Amortization of intangible assets

 

 

2,837

 

 

 

 

 

1,518

 

 

 

 

 

8,653

 

 

 

 

 

1,518

 

 

 

Change in fair value of preferred stock warrant liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(9,237

)

 

 

Change in fair value of assumed common stock warrant liability

 

 

 

 

 

 

 

2,429

 

 

 

 

 

24

 

 

 

 

 

(30,911

)

 

 

Change in fair value of contingent earn-out liability

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(84,420

)

 

 

Offering costs allocated to warrant liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7,031

 

 

 

Non-GAAP net loss (as a percentage of revenue)

 

$

(55,954

)

 

(45

)%

 

$

(47,023

)

 

(72

)%

 

$

(187,660

)

 

(60

)%

 

$

(126,839

)

 

(78

)%

Benefit from income taxes

 

 

(442

)

 

 

 

 

(314

)

 

 

 

 

(2,696

)

 

 

 

 

(211

)

 

 

Non-GAAP pre-tax net loss (as a percentage of revenue)

 

$

(56,396

)

 

(45

)%

 

$

(47,337

)

 

(73

)%

 

$

(190,356

)

 

(60

)%

 

$

(127,050

)

 

(79

)%

 

(1) Consists of employment taxes paid related to shares issued as part of the earnout.

(2) Consists of professional services fees related to acquisitions.


Contacts

Investor Relations
Patrick Hamer
VP, Capital Markets and Investor Relations
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Press
AJ Gosselin
Director, Corporate Communications
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Read full story here

Horizon L:TEC® 1P trackers chosen for bankability and ability to deploy in extreme weather environments

PHOENIX--(BUSINESS WIRE)--Following a successful RE+ show, Ideematec, a leading provider of utility-scale solar tracking systems has the great pleasure to announce reaching an agreement to support Solar Proponent’s approximate 7GW pipeline of projects in Texas using Ideematec’s Horizon L:TEC® 1P tracker. Ideematec and Solar Proponent are working together with an EPC contractor to finalize the delivery schedules for the first approximate 650MW project in Texas.


Philipp Klemm, CEO Ideematec, Inc., said, “Solar Proponent recognizes that our superior tracking technology is not only ideal for hurricane zones around the Texas Gulf Coast but also has a long track record of zero wind damage in areas with up to 105mph wind speeds. We look forward to delivering the first project and working with Solar Proponent to supply GWs of our L:TEC product into the Texas region. Ideematec’s team is proud to reach this milestone in our North American expansion strategy.”

About Ideematec, Inc.

Ideematec, Inc. is a trusted provider of utility-scale solar tracking systems, based in Phoenix, Arizona and backed by 13 years of global tracker expertise. The North American company pioneered the Horizon L:TEC® tracker which is powered by a patented decoupled drive technology and locked sprocket system. Along with safeTrack Horizon™, Ideematec offers both 1P and 2P, and capacity from 1 to 12 strings on one tracker. The company’s key innovations deliver unmatched durability, flexible design capabilities, and optimal power production. Ideematec, Inc.’s parent company, IDEEMATEC, has successfully delivered some of the largest solar facilities on three continents, including Australia (349 MW), Jordan (250 MW) and Spain (200 MW), and delivered the largest 2P one-plot solar project in Qatar (800 MW).


Contacts

Media Contact:
Ashley Gonzales
Ideematec, Inc.
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MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) today announced the closing of a previously announced acquisition of non-operated interests in the Northern Delaware Basin.


DELAWARE BASIN ACQUISITION

On December 1, 2022, NOG closed its previously announced acquisition of properties from Alpha Energy Partners. The closing settlement was $155.1 million in cash, which includes a $17.5 million deposit paid at signing in September 2022. The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to post-closing settlements between NOG and the seller. More information regarding this acquisition, including potential additional future consideration to be paid by NOG, can be found in NOG’s September 30, 2022 press release announcing the transaction, which is available here.

MANAGEMENT COMMENTS

“These assets are poised to deliver substantial growth over the coming years, with some of the lowest cost inventory we have acquired, tied to our top operators in the Permian,” commented Adam Dirlam, NOG’s President. “We remain focused on our mission to allocate capital efficiently, grow our enterprise to bolster long-term returns on capital employed, and increase shareholder returns in kind.”

ABOUT NORTHERN OIL AND GAS

NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about NOG can be found at www.northernoil.com.

ABOUT ALPHA ENERGY PARTNERS

Alpha Energy Partners is a privately held oil and natural gas company based in Midland, Texas, and is actively acquiring assets across the Permian Basin. More information about Alpha Energy Partners can be found at www.alphapermian.com.

SAFE HARBOR

This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding NOG’s shareholder return plans, financial position, business strategy, plans and objectives of management for future operations, and other matters are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “guidance,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future trends or operating results also constitute such forward-looking statements.

Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on NOG's properties and properties pending acquisition, NOG's ability to acquire additional development opportunities, integration and benefits of property acquisitions, or the effects of such acquisitions on NOG’s cash position and levels of indebtedness, changes in NOG's reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which NOG conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, NOG's ability to consummate any pending acquisition transactions, other risks and uncertainties related to the closing of pending acquisition transactions, NOG's ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, health-related epidemics, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG's operations, products, services and prices.

NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond NOG's control. NOG does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.


Contacts

Investor Relations
(952) 476-9800
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DUBLIN--(BUSINESS WIRE)--The "New Zealand Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by New Zealand to promote renewable energy.
  • The report details promotional measures in New Zealand both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 New Renewable Energy Target for New Zealand

3 Energy Strategy, 2011-2021 (Energy Strategy 2050)

4 Energy Efficiency and Conservation Strategy, 2017-2022

5 Hydrogen Energy

6 Climate Change and Sustainability Agenda

7 National Policy Statement for Renewable Electricity Generation

8 Buy-back Rates for Solar Power

9 Emissions Trading Scheme (ETS)

10 Zero Carbon Bill

11 Bioenergy Initiative

12 Crown Loans Programme

13 Maori & Public Housing Renewable Energy Fund

For more information about this report visit https://www.researchandmarkets.com/r/z1ztli


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

LOS ANGELES--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) ("Fisker") has responded to a report published by Fuzzy Panda Research. On Dec. 1, 2022, Fisker issued a cease-and-desist letter to the firm, which announced a short position in Fisker stock at the same time it released a purported assessment containing numerous false and misleading allegations about Fisker’s business operations and its relationship with manufacturing partner Magna.


Fisker said: “Fisker Inc. does not have a bank guarantee with Magna, and Fisker owns the intellectual property for the Fisker Ocean platform. The Ocean platform does not have 80 percent carryover parts from any other platform.”

Fisker intends to take immediate and aggressive action to address the false and misleading claims made by Fuzzy Panda Research.

About Fisker Inc.

California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn.

Download the revolutionary new Fisker mobile app from the App Store or Google Play store.


Contacts

US Media:
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European Media:
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Fisker Inc. Communications:
Matthew DeBord
Sr. Director, Communications Strategy & Storytelling
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Rebecca Lindland
Director, Communications
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Investor Relations:
Frank Boroch, VP of Investor Relations
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DUBLIN--(BUSINESS WIRE)--The "India Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by India to promote renewable energy.
  • The report details promotional measures in India both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 Electricity Act of 2003

  • National Electricity Policy (NEP, 2021)

3 Draft Electricity (Amendment) Bill, 2020

4 Cross Border Power Trade Regulation, 2020

5 Renewable Energy Targets

6 Scheme for Supply of Round-The-Clock (RTC) Renewable Energy

7 National Action Plan on Climate Change

  • State Action Plan on Climate Change (SAPCC)

8 Amendments in National Tariff Policy

9 Renewable Energy Certificates

  • REC Amendment 2021

10 Memorandum- "Make in India" for Local Content in Renewable Energy Products

11 Memorandum-Quality of Solar Modules

12 National Wind-Solar Hybrid Policy

13 COVID 19 Pandemic Extensions

14 Interstate Transmission Network System (ISTS)-Connected Wind-Solar Hybrid Power Projects

15 Green Energy Corridor

16 Extension on Waiver of Inter-State Transmission Charges for Wind and Solar Projects

17 National Renewable Energy Act, 2015

18 Green Term Ahead Market (GTAM)

19 Union Budget, Allocation for Power Sector

  • 2022-2023
  • 2021-2022

20 Green Hydrogen

21 Renewable Energy Auctions

22 Feed-in-Tariffs

  • Small Hydro
  • Bioenergy
  • Solar Power
  • Wind Power

23 Support for Renewable Energy, India

  • Support for Solar Power
  • Support for Wind Power
  • Support for Biopower
  • Support for Small Hydropower

24 Central Government Schemes for the development of power sector

For more information about this report visit https://www.researchandmarkets.com/r/ewp89g


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

MONTRÉAL--(BUSINESS WIRE)--$NMG #ESG--Nouveau Monde Graphite Inc. (the "Company" or "Nouveau Monde") (TSXV: NOU; NYSE: NMG) is pleased to announce that it has, subject to all required regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange"), retained Hybrid Financial Ltd. ("Hybrid") to provide assistance in all aspects of a marketing campaign for the Company, pursuant to an agreement entered into between the Company and Hybrid effective as of December 1, 2022 (the "Hybrid Agreement").


The services provided by Hybrid to the Company are the access and use of a database of registered financial professionals in North America (the "Services"). Hybrid is not promoting the specific purchase or sale of securities. It provides its database, technology, email tracking and call center services to enable the Company to disseminate its information to financial professionals only. Hybrid provides its services directly to the Company.

Hybrid has agreed to comply with all applicable securities laws and the policies of the Exchange in providing the Services.

Modalities

Pursuant to the Hybrid Agreement, Hybrid has been retained by the Company for an initial period of six months. Upon expiration of the initial term, the Hybrid Agreement shall be renewed upon written agreement between the parties for successive three-month periods thereafter, unless terminated by the Company in accordance with the Hybrid Agreement. Hybrid will be paid a fee in the amount of $15,000 per month, plus applicable taxes, during the initial term and any extensions. Steve Marshall will be the responsible person.

Except the Hybrid Agreement, there is no relationship between Hybrid and the Company, nor is there any direct or indirect interest in the Company or its securities or any right or intent to acquire such an interest on the part of Hybrid.

Cancellation of Options

The Company is seeking approval from the Exchange to cancel 487,804 options (the "Initial Options") granted to SD Capital and GKB Ventures, consultants of the Company and grant 453,048 new options (the "New Options") to the same consultants. The Initial Options have an exercise price of $8.20, vest on the closing of the project financing of the Company for both the Matawinie Mine project and Bécancour Battery Material Plant project (the "Project Financing") and expire on March 28, 2024.

The New Options will have an exercise price of $8.20, will vest on the closing of the Project Financing (no later than March 28, 2025) and will expire two (2) years following the vesting of the New Options.

About Hybrid Financial

Hybrid Financial connects issuers to the investment community across North America. Using a data-driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.

About Nouveau Monde Graphite

NMG is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com

Subscribe to our news feed: https://NMG.com/investors/#news

Cautionary Note Regarding Forward-Looking Information

All statements, other than statements of historical fact, contained in this press release including, but not limited to those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.

Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 22, 2022, including in the section thereof captioned “Risk Factors”, which is available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.

Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com


Contacts

MEDIA
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
This email address is being protected from spambots. You need JavaScript enabled to view it.

INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
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DUBLIN--(BUSINESS WIRE)--The "Taiwan Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by Taiwan to promote renewable energy.
  • The report details promotional measures in Taiwan both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 The Electricity Act

3 Renewable Energy Development Act (REDA)

4 Renewable Energy Targets

5 New Green Energy Revolution

6 National Energy Program

7 Green Finance Action Plan

8 Solar Power Programs

9 Wind Power Programs

10 Feed in Tariffs

11 Incentives for Renewable Energy Sources

  • Demonstration awards and subsidies
  • Tax incentives

12 Renewable Energy Auction

13 Other Programs and Initiatives

  • Shalun Green Energy Science City
  • Green Energy Roofs Project

For more information about this report visit https://www.researchandmarkets.com/r/2q4ked


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.

For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

DENVER--(BUSINESS WIRE)--Outrigger Energy II LLC (“Outrigger”) announced today that it has completed the sale of its midstream system in Weld County, Colorado to Summit Midstream Partners, LP (NYSE:SMLP) (“Summit”). Outrigger’s DJ Basin system includes a 60 MMcfd cryogenic natural gas processing plant with product deliveries to the Cheyenne Plains gas pipeline and DCP’s natural gas liquids (“NGL”) system, approximately 70 miles of low-pressure natural gas gathering pipelines, approximately 90 miles of high-pressure natural gas gathering pipelines, 12,800 horsepower of field and plant compression and approximately 30 miles of crude oil gathering pipelines with delivery to the Pony Express Pipeline. Outrigger’s DJ system is anchored by long-term, fee-based contracts and approximately 310,000 dedicated acres from leading basin operators.


Dave Keanini, Outrigger’s President & CEO, stated, “The robust midstream system we developed in the DJ Basin proved attractive to potential purchasers and this transaction with Summit delivers a positive outcome for our customers, employees, and investors. Further, the system’s extensive high-pressure gas gathering footprint provides an excellent platform for interconnectivity with multiple midstream systems in the DJ Basin, including Summit’s system. We have confidence that Summit’s experienced team will provide excellent service to the producer community and continued efficient consolidation and operation of midstream assets in the basin.”

Williston Basin Business Update

With the sale of its DJ Basin system, Outrigger will be exclusively focused on the continued development of its world class Williston Basin system located in Williams and Mountrail Counties, North Dakota. The system is ideally located to service growing volumes and has exposure to several thousand drilling locations across its footprint. Outrigger’s 250 MMcfd Bill Sanderson cryogenic gas processing plant located west of Williston, ND commenced permanent operation in June and is maintaining near 100% runtime. The high efficiency plant features ethane recovery and rejection capabilities with direct market access to the Northern Border Pipeline system for residue gas and the ONEOK NGL pipeline system for natural gas liquids. Outrigger’s plant facilities are easily expandable with additional processing capacity of up to 200 MMcfd for a total capacity of 450 MMcfd. In early 2022, Outrigger extended its 24- and 20-inch diameter, high pressure, rich gas pipeline from Williams County further east into Mountrail County to connect additional customers. The pipeline now extends over one hundred miles, has a capacity of approximately 450 MMcfd and serves multiple customers at various receipt points.

Mr. Keanini added, “We are seeing our core customers increase gas deliveries to our system as we enter 2023 and expect volumes to steadily grow throughout the year. Our asset is exceptionally positioned to provide reliable service to upstream as well as other midstream operators in the basin and we’ve begun scoping the next processing expansion at the Sanderson plant. As producers continue to increase their gas volumes through the drill bit and as gas-to-oil ratios (GORs) increase, our system will provide Williston Basin operators dependable infrastructure to capture their gas and move their products.”

About Outrigger Energy II

Outrigger Energy II is an independent, full-service midstream energy company that owns and operates one of the largest privately-held natural gas gathering and processing system in the Williston Basin of North Dakota. In addition to providing reliable and value-add services to its customers, Outrigger’s core values include promoting safety across all aspects of the company and environment stewardship within its communities. For more information, please visit www.outriggerenergy.com.


Contacts

Alex Woodruff
EVP, Chief Commercial Officer
720-361-2550
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DUBLIN--(BUSINESS WIRE)--The "Brazil Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by Brazil to promote renewable energy.
  • The report details promotional measures in Brazil both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 Renewable Energy Targets

3 Hydrogen Energy

4 Auctions/Tenders

  • Renewable Energy Auctions
  • T&D lines Auctions
  • Brazil's First Renewable Energy De-Contraction Auction
  • Hybrid Renewable Energy Projects to Participate in Energy Auctions

5 National Electricity Conservation Program - PROCEL

6 National Energy Plan (PNE), 2030

7 National Energy Plan 2050

8 10 Year Energy Expansion Plan, (PDE) 2029

9 Luz para Todos Electrification Program

10 Incentives for Small Hydropower Facilities, Law 9658

11 Wind Turbine Component Tax Exemption (Executive Decree 656)

12 Inova Energia Program

13 National Biofuel Policy

14 BNDES Renovabio

15 Net Metering for Distributed Generation

16 FUEL OF FUTURE PROGRAM

For more information about this report visit https://www.researchandmarkets.com/r/dbcud9


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

NEW YORK--(BUSINESS WIRE)--On November 29, 2022, OceanTech Acquisitions I Corp. (the “Company” or “OceanTech”) (Nasdaq: OTEC/OTECU/OTECW), a special purpose acquisition company, announced that its stockholders have approved an extension of the date by which the Company must consummate a business combination from December 2, 2022 to June 2, 2023 (or such earlier date as determined by the Company’s board of directors) (the “Extension”) at the special meeting of stockholders held on November 29, 2022 (the “Special Meeting”). The Extension provides the Company with additional time to complete the previously announced proposed business combination (the “Transaction”) with Majic Wheels Corp., a Wyoming corporation.


The Company has deposited an amount equal to $0.067 per share for each public share or $125,000 (the “Extension Payment”) into the Company’s trust account for its public stockholders (the “Trust Account”), which enables the Company to further extend the period of time it has to consummate its initial business combination by one month from December 2, 2022, to January 2, 2023. This extension is the first of up to six monthly extensions permitted under the Certificate of Amendment to the Company’s Amended and Restated Certificate of Incorporation approved by our stockholders at the Special Meeting. The Company previously extended the period of time it has to consummate its initial business combination from June 2, 2022, to December 2, 2022.

Stockholders holding 8,477,497 shares of common stock of OceanTech exercised their right to redeem their shares for a pro rata portion of the funds in the Trust Account. As a result, approximately 87,541,321.66 (approximately $10.32 per share) will be removed from the Trust Account to pay such holders. Following the redemption, the Company’s remaining shares of common stock outstanding were 1,848,503. OceanTech has deposited into the Trust Account $125,000 for the initial extension period (commencing December 3, 2022, and ending January 2, 2022).

The Company also made an amendment to the Company’s investment management trust agreement (the “Trust Agreement”), dated as of May 27, 2021, by and between the Company and Continental Stock Transfer & Trust Company, allowing the Company to extend the business combination period from December 2, 2022, to June 2, 2023, and updating certain defined terms in the Trust Agreement.

Business Combination

On November 15, 2022, OceanTech entered into a definitive business combination agreement pursuant to which it would acquire Majic Wheels Corp., a Wyoming corporation (the “Target”). Upon the closing of the business combination, which is expected in the first quarter of 2023, the combined company will be named Majic Corp. Majic Corp. expects to remain listed on Nasdaq under the ticker symbol “MJWL” after the consummation of the Business Combination.

About OceanTech Acquisitions I Corp.

OceanTech is a blank check company incorporated as a Delaware corporation on February 3, 2021 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

About Majic Wheels Corp.

Majic Wheels’ ecosystem includes assets such as Calfin Global Crypto Exchange (“CGCX”), the world’s leading hybrid exchange, and PCEX, an Indian exchange that is transforming the B2B crypto landscape in over 250 locations within India. CGCX provides customers with a high caliber, secure, and simple-to-navigate crypto trading experience by combining four blockchain services onto a single platform. This includes a crypto exchange, merchant solutions, smart contracts, and an initial coin offering (“ICO") platform.

Additional Information and Where to Find It

The Company intends to file a Prospectus and Proxy Statement with the SEC describing the business combination and other stockholder approval matters for the consideration of the Company’s stockholders, which Prospectus and Proxy Statement will be delivered to its stockholders once definitive. This document does not contain all the information that should be considered concerning the business combination and the other stockholder approval matters and is not intended to form the basis of any investment decision or any other decision in respect of the business combination and the other stockholder approval matters. The Company’s stockholders and other interested persons are advised to read, when available, the Prospectus and Proxy Statement and the amendments thereto and other documents filed in connection with the business combination and the other stockholder approval matters, as these materials will contain important information about the Company, the Target, the business combination and the other stockholder approval matters. When available, the Prospectus and Proxy Statement and other relevant materials for the business combination and the other stockholder approval matters will be mailed to stockholders of the Company as of a record date to be established for voting on the business combination and the other stockholder approval matters. Stockholders will also be able to obtain copies of the Prospectus and Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: OceanTech Acquisitions I Corp., 515 Madison Avenue, 8th Floor – Suite 8133, New York, New York, 10022 or (929) 412-1272.

No Offer or Solicitation

This Press Release is for informational purposes only and is not intended to and shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also 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 states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Participants in Solicitation

The Company, the Target and their respective directors and executive officers may be deemed participants in the solicitation of proxies from the Company’s stockholders with respect to the business combination. A list of the names of the Company’s directors and executive officers and a description of their interests in the Company will be included in the proxy statement/prospectus for the proposed business combination when available at www.sec.gov. Information about the Company’s directors and executive officers and their ownership of Company common stock is set forth in the Company’s Form 10-K, dated March 16, 2022, and in its prospectus dated May 27, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed business combination when it becomes available.

Cautionary Statement Regarding Forward-Looking Statements

This Press Release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Target’s industry and market sizes, future opportunities for Target and Company, Target’s estimated future results and the proposed business combination between Company and Target, including the implied enterprise value, the expected transaction and ownership structure and the likelihood, timing and ability of the parties to successfully consummate the proposed transaction. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.

In addition to factors previously disclosed in the reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inability to meet the closing conditions to the business combination, including the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the inability to complete the transactions contemplated by the Merger Agreement due to the failure to obtain approval of Company’s shareholders, the failure to achieve the minimum amount of cash available following any redemptions by Company shareholders, redemptions exceeding a maximum threshold or the failure to meet The Nasdaq Stock Market’s initial listing standards in connection with the consummation of the contemplated transactions; costs related to the transactions contemplated by the Merger Agreement; a delay or failure to realize the expected benefits from the proposed transaction; risks related to disruption of management’s time from ongoing business operations due to the proposed transaction; changes in the cryptocurrency and digital asset markets in which Target provides insurance and infrastructure offering services, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in domestic and global general economic conditions, risk that Target may not be able to execute its growth strategies, including providing software solutions for the broad blockchain technology, and identifying, acquiring, and integrating acquisitions; risks related to the ongoing COVID-19 pandemic and response; risk that Target may not be able to develop and maintain effective internal controls; and other risks and uncertainties indicated in Company’s final prospectus, dated May 27, 2021, for its initial public offering, and the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in Company’s other filings with the SEC. Company and Target caution that the foregoing list of factors is not exclusive.

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Company and Target or the date of such information in the case of information from persons other than Company or Target, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding Target’s industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.


Contacts

Investor Relations
Lena Cati
The Equity Group, Inc.
(212) 836-9611
This email address is being protected from spambots. You need JavaScript enabled to view it.

Investor Relations
Majic Wheels Corp.
This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "South Korea Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by South Korea to promote renewable energy.
  • The report details promotional measures in South Korea both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 Green Growth Policy

3 New Deal 2.0

  • Green New Deal
  • New Deal 2.0

4 Renewable Energy Targets

5 Ninth Basic Plan - 2020-2034

6 Third Energy Master Plan 2019-2040

7 Renewable Portfolio Standards (RPS)

8 Renewable Energy Certificates (REC)

9 Fixed price contract bidding system

10 Korea Renewable Energy 3020 Plan

11 Hydrogen Energy

12 Nationally Determined Contribution (NDC) to the Paris Agreement

13 Tax Audit Exemption

14 Mandatory Use for Public Buildings

For more information about this report visit https://www.researchandmarkets.com/r/14s6i6


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

PORTLAND, Ore.--(BUSINESS WIRE)--For the third consecutive year, NW Natural scored the second-highest in customer satisfaction among large utilities in the West, according to J.D. Power.


NW Natural received 773 points in the West large utility segment, which represents utilities serving 500,000 or more residential customers, as part of J.D. Power’s Gas Utility Residential Customer Satisfaction Study.

This is the 19th time the company has scored in the top two in the West. NW Natural also scored in the top 10 in the nation among large gas utilities this year.

“We’re proud to serve our communities with safe and dependable service. Our customers have always been the focal point at NW Natural,” said David Anderson, President and CEO. “It is particularly satisfying to once again this year receive such robust confirmation that they appreciate our commitment to service, safety and reliability.”

The 2022 Gas Utility Residential Customer Satisfaction Study is based on responses from 57,239 online interviews conducted from January 2022 through October 2022 among residential customers of the 84 largest gas utility brands across the United States, which represent more than 64.6 million households.

The study, now in its 21st year, measures residential customer satisfaction with natural gas utilities across six factors: safety and reliability; billing and payment; price; corporate citizenship; communications; and customer service.

About NW Natural

NW Natural, a part of Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and has been doing business for more than 160 years. NW Holdings owns NW Natural, NW Natural Renewables Holdings (NW Natural Renewables), NW Natural Water Company (NW Natural Water), and other business interests.

NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 790,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores.

We have a longstanding commitment to safety, environmental stewardship, and taking care of our employees and communities. Learn more in our latest ESG Report.


Contacts

Stefanie Week, 503-739-9902, This email address is being protected from spambots. You need JavaScript enabled to view it.

DUBLIN--(BUSINESS WIRE)--The "Japan Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.


The report offers comprehensive information on major policies governing the renewable energy market in the country.

The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.

The report is built using data and information sourced from industry associations, government websites, and statutory bodies.

Scope

  • The report covers policy measures and incentives used by Japan to promote renewable energy.
  • The report details promotional measures in Japan both for the overall renewable energy industry and for specific renewable energy technologies that have potential in the country.

Reasons to Buy

  • Develop business strategies with the help of specific insights about policy decisions being taken for different renewable energy sources.
  • Identify opportunities and challenges in exploiting various renewable technologies.
  • Compare the level of support provided to different renewable energy technologies in the country.
  • Be ahead of competition by keeping yourself abreast of all the latest policy changes.

Key Topics Covered:

1 Renewable Energy Market, Overview

2 Renewable Energy Targets

3 Sixth Strategic Energy Plan, 2021

4 Hydrogen Energy in Japan

5 Japan Renewable Energy Policy Platform

6 Amendment of the Renewable Energy Act (New Feed-in Tariff Act)

7 Feed-in Tariffs for Renewable Energy

8 Renewable Energy Auctions

  • Solar PV Auctions
  • Offshore Wind Auctions
  • Offshore Wind Bill

9 RE 100

10 Establishment of New Energy Development Organization

11 Renewable Energy Certificates (REC) in Japan

12 Act No. 89

13 Cool Earth-Innovative Energy Technology Program

For more information about this report visit https://www.researchandmarkets.com/r/4bgyak


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Energy services provider, Expro (NYSE: XPRO), has announced a new $50 million contract with North Sea operator Apache Corporation on its Beryl and Forties assets.



The fully integrated well intervention and integrity services contract, which has a primary term of three years, and two one-year extension options, involves pumping and optimization operations across all of Apache’s North Sea assets, including Beryl Alpha and Bravo, and Forties Alpha, Bravo, Charlie, Delta and Echo.

Expro will provide integrated services to Apache, including slickline, e-line, cased hole, pressure pumping, and several of the company’s new innovative technologies, including OctopodaTM, CoilHose, and Distributed Fiber Optic Sensing (DFOS) Slickline, with multi-skilled teams based in Aberdeen, Scotland.

The contract will see the company invest significant capital in new equipment and technology as part of its commitment to a long-term future on the UK continental shelf. The project is due to start early fourth quarter 2022.

Colin Mackenzie, Expro’s Regional Vice President of Europe and Sub-Saharan Africa, said:

“We are delighted to receive this award, which demonstrates the continuation of our longstanding relationship with Apache and long-term investment in the UK sector of the North Sea. The full scope of services for this campaign will be supported from Expro’s regional headquarters in Aberdeen.

“Expro have worked with Apache for two decades. We are committed to providing safe, efficient, and environmentally responsible services. We look forward to adding further value to Apache with the introduction of our latest well intervention technologies.”

NOTES TO EDITORS:

About Expro

Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company believes to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating to 1938, Expro has approximately 7,200 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.

For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.


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  • Wallbox strengthens its corporate structure with the creation of a new communications and public affairs department that will be led by Myriam Lhermurier Boublil, who has an international professional career with 25 years of experience, creating and leading teams in companies such as Google and PayPal across the world.
  • Javier Riaño, who holds 24 years of experience in directive positions within the consumer goods industry, will be the company’s new Chief Marketing Officer, leading Wallbox’s global Marketing, E-Commerce and Brand teams.

BARCELONA, Spain--(BUSINESS WIRE)--Wallbox N.V. (NYSE: WBX), a leading provider of electric vehicle (EV) charging and energy management solutions, has today announced two strategic hirings.



The company strengthens its corporate structure through the creation of a new communications and public affairs team, which will be led by Myriam Lhermurier Boublil. As Chief Communications & Public Affairs Officer, Myriam will lead a growing team, already well established in Spain and the United States. The communications and public affairs team will enhance the company's global communication as it works to facilitate the adoption of electric vehicles and change the current approach to energy management, promoting Wallbox's role as a leader in the EV sector.

The company reinforces its commercial growth potential with the hiring of Javier Riaño, who joins Wallbox as its new Chief Marketing Officer. Javier will report to Masud Rabbani, the company's Chief Business Officer, and will lead the company's corporate marketing, branding and e-commerce strategy globally, helping to strengthen the brand, which is already present in 113 countries and enjoys a leadership position in its main markets, including Europe and the United States.

Enric Asunción, CEO and co-founder of Wallbox said: “We are very pleased that Myriam and Javier have joined the Wallbox team. With the creation of the new Communications and Public Affairs department led by Myriam, we will progress our strategy of positioning Wallbox as a leader in the development of technologies for charging electric vehicles on a global scale. Myriam also brings us her extensive experience in the innovation and technology sector, which is a great asset for us as we continue our mission to be a key player driving change in the way the world uses energy”.

Masud Rabbani, Wallbox's Chief Business Officer, said: “I am delighted to welcome Javier. His extensive experience in corporate marketing, e-commerce, brand management and CRM management positions, among other responsibilities, will help us continue to position Wallbox as a benchmark brand in our main markets, increasing the acceleration of our global growth and expansion. Through his leadership, we hope to be able to creatively and strategically convey our value proposition and our goal to play a key role in the transition to sustainable mobility.”

Myriam Lhermurier Boublil, who has over 25 years of experience in communications and public affairs, led teams in Europe, the Middle East and Asia during her career at Google, where she amassed experience in various leadership positions over 14 years. She also led PayPal's international communications department for more than 3 years, before moving to Barcelona in 2021 to join Domestika as Senior Vice President of Global Communications. Myriam has a degree in International Business with a master's degree in Communications from the Sorbonne University in Paris. She speaks French, English, Spanish and Hebrew.

Javier Riaño has more than 24 years of experience in marketing management positions, mainly in the consumer goods sector. In his previous role , Riaño acted as vice president of corporate marketing for Spain and director of beauty and grooming for southern Europe at Procter & Gamble. Previously, Javier Riaño has worked in different roles within the field of marketing, brand communication and e-commerce at Procter & Gamble on an international level, in cities such as Barcelona, Madrid, Rome and Geneva. Riaño has a degree in business administration and economics from Universidad Pontificia Comillas and in Law from Universidad Nacional de Educación a Distancia (UNED). Javier speaks Spanish, French, English and Italian.

About Wallbox

Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 113 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has more than 1,200 employees in its offices across Europe, Asia, and America. For more information, visit www.wallbox.com.


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Elyce Behrsin
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