$82M Transaction meaningfully enhances scale and growth prospects for Brightcore and its customers
Clean energy & efficiency as a service for commercial, industrial & institutional real estate owners
End-to-end solutions provide immediate customer savings and environmental benefits
ARMONK, N.Y.--(BUSINESS WIRE)--SER Capital Partners, LLC (“SER”), a sustainable investment focused private equity firm, has committed $82M to invest in and grow Brightcore Energy LLC (“Brightcore”), a clean energy & efficiency as a service company serving commercial, industrial, and institutional real estate owners. SER’s investment will significantly expand Brightcore’s balance sheet and its ability to implement, finance, invest in, and acquire a broad range of clean energy projects and solutions, thereby enabling its customers to reduce operating costs and mitigate their environmental footprint at no upfront expense.
“We’re excited to partner with a strong team that is led by Co-CEOs Rob Krugel, Konstantin Braun and President Mike Richter and that has already completed more than 150 clean energy and efficiency projects for its customers. Commercial, industrial, and municipal demand for clean energy and efficiency is growing exponentially. With SER as a partner, Brightcore now has an enhanced ability to provide competitive financing solutions for customers. We’re eager to see Brightcore accelerate deployment of its solar, LED lighting, HVAC (including geothermal), and other product offerings. Brightcore’s ability to implement and finance a holistic sustainability solution for its customers is highly differentiated and value-additive,” noted Rhem Wooten, Partner of SER.
Rob Krugel, Co-CEO of Brightcore, added: “We are excited to partner with SER, who brings significant experience in the efficiency and sustainability sectors and is fully aligned with our business and mission. This transaction positions us well to meet the significant customer demand for energy efficiency and distributed infrastructure projects at the state and local levels. With a significant balance sheet, combined with our intellectual capital and extensive experience, Brightcore is extremely well positioned to provide economic benefits for customers while decarbonizing their operations.”
Rahul Advani, Managing Partner of SER, commented: “We are excited to welcome Brightcore into SER’s portfolio of businesses. Our portfolio companies are leading the sustainable industrial revolution and reducing overall carbon emissions by installing solar, storage and energy efficiency projects where and when customers need them most. And we see a tremendous market need for Brightcore’s clean energy and efficiency services for customers.”
Metric Point Capital acted as the exclusive placement agent for the fundraise.
About Brightcore
Brightcore Energy is a provider of end-to-end clean energy solutions to the commercial and institutional market, including commercial and community solar, high-efficiency renewable heating and cooling (geothermal), LED lighting and controls, electric vehicle (EV) charging, battery storage, smart building solutions and other emerging technologies. Brightcore Energy accelerates the deployment of a wide range of energy-efficiency and renewable energy technologies through its innovative Efficiency-as-a-Service (EaaS) model that requires no capital investment and provides for immediate operating cost savings, making it affordable and seamless for businesses and institutional buildings to quickly and easily transition their legacy energy platforms to significantly more efficient ones. More is available at www.brightcoreenergy.com.
About SER Capital Partners
SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North America’s sustainable industrial, environmental, and renewable businesses. Over the past two decades, its team members have amassed successful experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to create attractive investments while also authentically measuring and improving sustainability. SER team members are also committed to aligning interests across its investors, team members, portfolio companies, and communities. More is available at www.sercapitalpartners.com.
About Metric Point Capital (Member FINRA and SIPC)
Metric Point Capital (“Metric Point”) is a capital advisory firm specializing in raising institutional capital for alternative investment managers. Fund assignments include buyout, growth equity, real estate, and real asset strategies. Metric Point also advises on all aspects of liquidity needs across GP-led transactions, secondaries, directs, and co-investments. The firm has professionals located in New York, Stamford, Chicago, Los Angeles, and Austin.
Michele Lea, 845-545-2431
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Supporting the Energy Transition, the Fuel Cell Portfolio Will Provide Cleaner, Reliable, and Baseload Power for Companies in California, New York, New Jersey, Massachusetts, Connecticut and Maryland
NEW YORK--(BUSINESS WIRE)--Daroga Power, an investor and developer of distributed generation energy assets, today announced that they have closed an infrastructure portfolio fund to deploy 32.85 MW of Bloom Energy solid oxide fuel cells (“SOFC”).
Approximately 6 MW of fuel cells in the portfolio are already operational. The additional fuel cells will be deployed through the end of 2022 and are committed to 17 market-leading and Fortune 500 commercial and industrial off-takers under long-term energy services agreements. Once completed, the fuel cells will produce reliable, cleaner, baseload energy at customer sites in California, New York, New Jersey, Massachusetts, Connecticut, and Maryland.
“We believe in the power of distributed generation to mitigate the risks that companies face from extreme weather, brownouts and blackouts, and unknown energy costs. Fuel cells enable companies to reduce their environmental footprint, while being able to budget for and reduce their energy spend,” said Ory Moussaieff, co-founder of Daroga Power.
The fund was developed through a private joint venture “RAD Energy Solutions”, a partnership between Daroga Power and an affiliate of Related Companies. The sponsor and tax equity were privately raised with a sponsor contribution of $21.5 million. Bank of America has committed up to $68 million of tax equity. Silicon Valley Bank provided the debt financing of approximately $135 million. Further financial details were not disclosed.
“Scaling capital deployment for fuel cell technology, including Bloom’s SOFC as well as many other innovative decarbonization technologies, is an important part of BofA’s $1.5 trillion 2030 Sustainable Finance commitment,” said Karen Fang, Global Head of Sustainable Finance at Bank of America.
“BofA is very pleased to have closed this solid oxide fuel cell financing in partnership with Bloom Energy and Daroga Power. We believe Bloom’s SOFC is an important technology in reducing emissions from existing forms of energy,” added Omer Farooq, Managing Director, Global Sustainable Finance Group – Asset Finance, Bank of America.
“We are excited to work with Daroga Power to support the build out of a resilient, reliable, and efficient portfolio of distributed fuel cell projects, and we are proud to expand our relationship with Bloom Energy,” said Bret Turner, Market Manager of Project Finance at Silicon Valley Bank. “Our project finance team is dedicated to accelerating the energy transition by providing market liquidity and financing for innovative projects and technologies.”
Bloom Energy will serve as the provider of the fuel cells for the portfolio and will maintain the equipment under a long-term maintenance and operation agreement. Daroga Power, as managing member of RAD Energy Solutions, will oversee operation and financial performance of the fuel cell assets.
“Bloom Energy is excited to partner with RAD, Silicon Valley Bank, and Bank of America to further scale deployment of our solid oxide fuel cell platform. A path to net-zero carbon emissions must include partnerships and collaboration with organizations focused on the advancement of a low carbon economy,” said Scott Reynolds, global head of structured finance and corporate development, Bloom Energy. “We’re particularly pleased to add Bank of America as a new source of tax equity, and to continue our track record of success with RAD and Silicon Valley Bank.”
Bloom Energy’s solid oxide fuel cell systems are advanced distributed power generation systems that convert fuel to electricity without combustion to deliver reliable, resilient, cleaner, and affordable baseload power. The benefits of deploying fuel cells for commercial and industrial power needs include reduced greenhouse gas emissions, virtually no harmful smog-forming particulate matter, high reliability, flexibility in installation and operation, and improved environmental quality.
In the deal, RAD Energy Solutions was represented by Norton Rose Fulbright & Fucci Law and Bank of America was represented by Millbank.
“With this structured deal, we are nearly tripling our fuel cell portfolio. Our reputation for strong management means we are able to bring respected partners to the table and be creative in how we privately structure these funds,” said David Matt, co-founder of Daroga Power.
This is the second fuel cell portfolio announcement for Daroga Power in less than one year. In December 2020, the company announced a 12 MW fuel cell portfolio valued with an enterprise value of $103 million. That portfolio of 48 Bloom Energy fuel cells is located throughout New York and is reducing consumers’ electricity costs through Daroga Power’s energy platform goCDG.com.
About Daroga Power
Launched in 2015, Daroga Power is a New York-based clean energy infrastructure firm focused on the development and disciplined management of strategically innovative and socially responsible energy projects throughout North America. Applying the discipline of both a strong financial and fast-track development background, Daroga Power is one of the few companies able to privately structure finance deals to acquire and manage distributed generation portfolios. With their successful track record and deep background, Daroga Power is rapidly becoming a leader in the shift to distributed generation that is reshaping the relationship between local utilities and their customers.
Learn more at www.darogapower.com
Loretta Prencipe
This email address is being protected from spambots. You need JavaScript enabled to view it. | 202.658.9024
Grant program has provided more than $4.5 million to date for STEM education and research programs reaching 225,000 students nationwide
BALTIMORE--(BUSINESS WIRE)--#PoweringCommunities--Constellation, a leading energy and energy solutions provider, announced today it is now accepting applications for its 2021 E2 Energy to Educate grant program, which provides funding for student projects focusing on energy innovation. Educators and students in grades 6-12 can apply for program grants up to $25,000, and two- and four-year colleges can apply for grants up to $50,000. The deadline for applications is Oct. 1, 2021.
This year, Constellation has refreshed its E2 innovation themes (see below) to emphasize inspiring equity in the energy industry.
“We continually evolve and fine-tune our innovation themes with an eye on maintaining our core focus of hands-on STEM energy projects while committing to address elements that will shape the future of energy,” said Jorge Acevedo, senior vice president, Innovation and Strategy for Constellation. “While our focus on diversity, equity and inclusion is not new, this past year has shone a brighter light on socioeconomic and educational disparities, and to that end, we are specifically challenging our applicants to consider ways to extend their project opportunities to underserved groups, including communities of color.”
In 2020, Energy to Educate awarded more than $500,000 across 22 projects and reached more than 20,000 students nationwide. Projects included solar car competitions, fuel cell technology, energy storage, wind power, and teaching energy concepts via an interactive gaming platform. To date, the grant program has provided $4.5 million for research and education projects that have fueled the exploration into STEM fields for more than 225,000 students.
“In addition to being a creative way to engage students, our Virtual STEM Day also motivates, encourages and inspires young people to make a positive impact on our planet as future STEM leaders,” said Dr. Jamal Uddin, professor and director of the Center for Nanotechnology at Coppin State University in Maryland. “As an HBCU, we are proud of our legacy of serving diverse students, and through Constellation’s E2 award, we have been able to further extend outreach and programming for STEM and energy projects to more students from diverse backgrounds.”
To be eligible for funding, a project must align with the following energy innovation themes. Project content must also be delivered virtually or through safe in-person settings:
Exelon companies, together with Constellation, contributed more than $58 million to nonprofits in 2020 supporting COVID relief efforts plus education, the environment, culture and arts, and community development.
Grant recipients are announced each year during American Education Week. To learn more about the program and application criteria, visit the Community Outreach section of www.constellation.com.
About Constellation
Constellation is a leading competitive retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States. Constellation's family of retail businesses serves approximately 2 million residential, public sector and business customers, including more than three-fourths of the Fortune 100. Baltimore-based Constellation is a subsidiary of Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with 2020 revenues of approximately $33 billion, and more than 30,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Learn more at www.constellation.com or on Twitter at @ConstellationEG.
Dave Snyder
Constellation
410-470-9700
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Discoveries, H1 2021 Review - Norway Led Discoveries Count in H1 2021" report has been added to ResearchAndMarkets.com's offering.
In H1 2021, a total of 55 oil and gas discoveries were made globally with conventional oil and gas resources dominating the discoveries landscape.
Among regions, South America and Asia were the top regions globally, each with 10 oil and gas discoveries in H1 2021. Among countries, Norway led globally in terms of count of discoveries in H1 2021 with nine.
Of these, seven were conventional oil discoveries and the remaining two were conventional gas discoveries. Among operators, Equinor Energy AS and Turkiye Petrolleri Anonim Ortakligi (TPAO) have been the most successful in H1 2021, with four discoveries each. Oil and Natural Gas Corp., Eni S.p.A., and Kuwait Oil Co. are next with three discoveries each.
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For more information about this report visit https://www.researchandmarkets.com/r/mzeoti
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Laura Wood, Senior Press Manager
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Global Survey of Dangerous Goods Professionals Reveals Organizations Not Equipped to Meet Future Needs, Require Better Training and Technology
CHICAGO--(BUSINESS WIRE)--#COVID--Labelmaster, the leading provider of products, services and technology for the safe and compliant transport of dangerous goods (DG) and hazardous materials (hazmat), today announced the results of its sixth annual 2021 Global Dangerous Goods Confidence Outlook. Sponsored by Labelmaster, International Air Transport Association (IATA) and Hazardous Cargo Bulletin, the survey of 465 DG pros from around the world examined how organizations managed the pandemic and the ability of their DG management operations to meet supply chain needs. The survey found the need for greater awareness among senior leadership and further investment in DG training and technology.
“The past year has put tremendous pressure on the global supply chain,” said Robert Finn, vice president, Labelmaster. “While the industry kept goods moving, several problematic areas came to light in organizations’ ability to keep dangerous goods (DG) safe and compliant moving forward, particularly related to greater organization awareness and the need for further investment in DG training, technology and infrastructure.”
Key Findings from the Report
Last year’s survey (conducted in June 2020) found that organizations struggled with: receiving goods in a timely manner, lack of carrier availability, training/recertifying employees and keeping teams up-to-date on new and existing compliance rules.
This year’s survey (conducted between March and April 2021) found that despite the range of supply chain challenges, DG pros feel their organizations managed the pandemic reasonably well.
And many are confident that things are getting back to normal.
Organizational Performance Gaps
Despite positive sentiment, DG pros are signaling there are still critical organizational issues to be addressed. The most pressing being organizational awareness and infrastructure (50%), training curriculum that meets goals and supports remote learning (46%), harmonized regulations and interpretations (44%) and DG technology (42%).
Given these issues, DG pros acknowledge significant performance gaps.
However, in spite of needing better DG resources, organizational support is not expected to grow with future spending on DG management: Less (15%), the same (60%) and more (25%).
Finn added, “Though organizations feel positive about how they have managed the pandemic, DG pros recognize potential challenges on the horizon if DG management gaps are left unaddressed. But in order to address these gaps, senior leadership needs to recognize the critical role DG management plays in the supply chain and overall business, and then invest in the training, technology and resources needed to not only keep the supply chain running (even when major disruptions arise), but provide real business value and differentiation.”
To learn more about how the pandemic has impacted the DG supply chain, and the changes DG pros feel are needed within their organizations, download the full infographic: https://www.labelmaster.com/dg-confidence-outlook/2021-results.
About Labelmaster
For more than five decades, Labelmaster has been the go-to source for companies – big and small – to navigate and comply with the complex, ever-changing regulations that govern the transport of dangerous goods and hazardous materials. From hazmat labels and UN-certified packaging, hazmat placards and regulatory publications, to advanced technology and regulatory training, Labelmaster’s comprehensive offering of industry-leading software, products, and services helps customers remain compliant with all dangerous goods regulations, mitigate risk and maintain smooth, safe operations. Labelmaster's dedication to supporting its customers' operational and compliance needs is enhanced through its unmatched industry expertise and consulting services, which serve as a valuable resource for customers to answer difficult and commonplace regulatory questions. Whether you're shipping hazardous materials by land, air, or sea, Labelmaster is your partner in keeping your business ahead of regulations and compliant every step of the way. To learn more, visit www.labelmaster.com.
Stephen Dye
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312-957-8911
DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Industry Contracts Review, Q2 2021 - Saipem-DSME JV and Keppel Secure Construction Contracts for Buzios FPSO in Brazil" report has been added to ResearchAndMarkets.com's offering.
This report enables you to analyze oil and gas contracts in the global arena and review contracts in the upstream sector - exploration and production, midstream sector - pipeline, transportation, storage and processing, and in the downstream refining and marketing, and petrochemical sector.
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For more information about this report visit https://www.researchandmarkets.com/r/le2axb
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Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it will host virtual investor meetings at the following conferences:
A copy of the slides that may be used during the meetings will be available on the Enterprise website at www.enterpriseproducts.com under the Investors tab.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
Annual Powering Safe Communities grant program supports community resiliency with $170,000 in funding for public safety initiatives
CHICAGO--(BUSINESS WIRE)--To support crucial public safety initiatives and enhance the quality of life in communities across northern Illinois, ComEd and the Metropolitan Mayors Caucus today announced a total of $170,000 in grants to 20 public agencies through the annual ComEd Powering Safe Communities Program. This year, the program had a special focus on clean transportation projects, which can reduce carbon emissions, improve public health outcomes and advance community resiliency.
This year’s recipient projects range from the installment of electric vehicle charging stations, to flashing signs for high-traffic areas, to replacing outdated warning sirens that will alert residents of dangerous conditions even during a power outage. Each of this year’s recipient projects improves community safety and addresses essential community needs.
“By delivering reliable and affordable electricity to northern Illinois communities for more than 100 years, ComEd knows the important role safety plays in all of our lives,” said Melissa Washington, senior vice president of governmental and external affairs at ComEd. “Each community that was awarded this grant is committed to the safety of their residents and we commend them for their efforts. ComEd is proud to work with the Metropolitan Mayors Caucus to help these communities’ address their public safety needs.”
Over the past seven years, the Powering Safe Communities Program has provided more than $1 million in grants for 136 local public safety projects throughout northern Illinois. Since 2016, ComEd has partnered with the Metropolitan Mayors Caucus, a council for Chicagoland's chief elected officials, on the program. Through this partnership, ComEd provides the program funding, the Metropolitan Mayors Caucus reviews applications and administers the grants to local communities, and grant recipients match ComEd’s contribution with their own funding of equal or greater value.
“For the past six years, the Metropolitan Mayors Caucus has been grateful to partner with ComEd and administer the Powering Safe Communities Program,” said Kevin Wallace, mayor of Bartlett and Mayors Caucus executive board chairman. “We are proud to help local governments throughout the region provide more effective public health and safety services.”
Additional information on the ComEd Powering Safe Communities Program can be found at http://mayorscaucus.org/initiatives/environment/psc/.
The 20 ComEd Powering Safe Communities Program grant recipients for 2021 are:
Bolingbrook Police Department: This grant will support the purchase of two electric utility terrain vehicles (UTV). The UTVs will allow the department to be more visible and better prepared to access and service citizens at local parks and public events, including the annual Fourth of July event which attracts more than 10,000 spectators each year.
Broadview Police Department: This grant will support the purchase and maintenance of one pole-mounted license plate reader, which will be used to identify suspect vehicles in both criminal and serious traffic infractions, and three solar-powered flashing traffic signs with amber LED warning lights for high traffic areas.
City of Chicago Heights Police Department: This grant will support the purchase and maintenance of three flashing traffic signs with amber LED warning lights, and five LED-lighted flashing stop signs. The flashing signs will be constructed in the vicinity of Lincoln-Gavin, Jefferson, Garfield and Greenbriar schools.
Village of Crete Fire Department: This project will support the purchase of six automated external defibrillators (AEDs) to equip the village’s frontline engines, rescue squad and utility response vehicles. One unit will also be placed in the Village Hall business office and board room.
City of DeKalb: This project will support the installation of an electric car charging station in the downtown area of DeKalb to encourage the use of green technology and support the use of electric cars as a clean transportation option.
Fox Metro Water Reclamation District: This project will support the installation of an electric vehicle charging station at the Fox Metro’s main administration building. The charging station would be the first step in adding electric vehicles to the district’s fleet.
Village of Glencoe: This project will support the installation of two level 2 ChargePoint electric vehicle charging stations, each of which are equipped with two charging ports to accommodate four vehicles at a time. The charging stations will also provide data about the stations’ usage and allow the village to set different rates and conditions for visitors, downtown area tenants and village fleet vehicles.
Village of Hawthorn Woods Police Department: This project will support the replacement of three outdated camera systems used in the village’s police department squad cars. The department will upgrade the video systems with upgraded technology.
Village of Hoffman Estates: This project will support the replacement of the fire department’s 20-year-old ventilation fans with new positive-pressure, battery-powered fans that will be placed on all four of the department’s frontline fire engines.
Justice Police Department: This project will support the purchase of a speed-monitoring message trailer to improve safety for children around Commissioner’s Park and at George T. Wilkins and Frank A. Brodnicki elementary schools.
Kildeer Police: This project will support the purchase of a full-matrix message display board with a trailer for use by the village and the Southwest Community Response Team in Lake County, Ill. The department will use the message display board to address public safety needs and enhance government communication to residents and the public on health and education.
Kirkland Police Department: This project will support the investment in electronic radar speed monitoring devices to create a safer environment for residents and visitors of the downtown business district and school grounds.
Norridge Police Department: This project will support the purchase and maintenance of three flashing traffic signs with amber LED warning lights to improve the health and safety of the village’s residents and visitors. The signs will be installed near Leigh Grammar School, James Giles Grammar School and Norridge Park.
Village of Port Barrington: This project will support the purchase of an electric vehicle for municipal use. This purchase will showcase the village’s commitment to energy conservation.
Richton Park Fire Department: This project will support the replacement of the fire department’s gas-powered positive pressure ventilation (PPV) fans with electric and battery-operated PPV fans.
Village of River Forest: This project will support the installation of an electric vehicle charging station near River Forest Village Hall for future electric vehicles and visitors of River Forest’s village hall and nearby parks and businesses.
Village of Schaumburg: This project will support the replacement of outdated warning signs, that have been in use since the 1970s, with signs upgraded with sirens that are compatible with the new battery backup systems. The new signs will alert the village of dangerous conditions, even during a power outage. The advanced warning will give residents enough time to seek shelter from incoming threats.
Westchester Police Department: This project will support the purchase of four new automated external defibrillators and associated training accessories that allow officers to render immediate assistance while waiting for fire and emergency medical service personnel to arrive in emergency situations.
Village of Wilmette: This project will support the purchase of an electric vehicle charging station in downtown Wilmette. The weatherproof, commercial grade charging station will be accessible to the public 24-hours a day and allow the village to set different rates and conditions for users.
City of Woodstock: This project will support the purchase of and training for 3D laser scanner accident and crime scene re-creation camera equipment. The 3D cameras will allow for real time re-creation of law enforcement investigation scenes and offer direct aid to improve outcomes for situations concerning forensics, accident reconstruction, crime scene investigation, arson investigation, post-blast investigation, fire and security pre-planning, bullet trajectory, bloodstain pattern analysis and augmented/virtual reality operations. The use of scientific verification of reported details in law enforcement can de-escalate many situations that might otherwise result in sensational or controversial public interpretation.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
The Metropolitan Mayors Caucus is a membership organization of the Chicago region's 275 cities, towns and villages. Founded in 1997 by then Chicago Mayor Richard M. Daley and leading mayors from nine suburban municipal groups, the Metropolitan Mayors Caucus pushes past geographical boundaries and local interests to work on public policy issues. The caucus provides a forum for metropolitan Chicago's chief elected officials to collaborate on common problems and work toward a common goal of improving the quality of life for the millions of people who call the region home. For more information visit http://mayorscaucus.org/.
ComEd Media Relations
312-394-3500
JENBACH, Austria--(BUSINESS WIRE)--#INNIO--INNIO today announced that it has joined the United Nations Global Compact, the world’s largest corporate sustainability initiative. In joining this critical voluntary leadership platform, INNIO continues its path to build on an expanded commitment to its environmental, social and governance (ESG) program. As part of the Global Compact initiative — which is focused on the development, implementation and disclosure of responsible business practices – INNIO proudly aligns itself with thousands of other companies and non-business signatories globally committed to taking responsible business action to create a better world.
As part of its relentless pursuit to achieve a climate-neutral, greener and more secure energy future, INNIO established its Sustainability Review Board (SRB), tasked with developing INNIO’s ESG goals and strategy for its Jenbacher and Waukesha businesses in close alignment with INNIO’s growth strategy. In an act to cement its commitment to sustainability, INNIO leadership – in conjunction with its SRB – moved swiftly to become a participant of the Global Compact. INNIO recognized the Global Initiative as being a beacon platform bringing together companies and non-business signatories everywhere to align their operations and strategies with ten principles in the areas of human rights, labor, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals. Launched in 2000, the UN Global Compact is composed of more than 9,500 companies and 3,000 non-business signatories based in over 160 countries, and more than 70 Local Networks.
“We are delighted to have taken this step to add our voice to that of thousands of others in helping to impact positive change across the world through business,” said Carlos Lange, president and CEO of INNIO. “While our expertise lies in the domain of power generation and gas compression, we recognize that our responsibility does not end with the sustainable production and delivery of electricity and gas compression. As a responsible corporate citizen, we are ethically and morally bound to maintain a responsible role as it pertains to human rights, labor, and anti-corruption as well as the environment. As part of the Global Compact, we are now positioned with our corporate neighbors to advance broader societal goals, such as the UN Sustainable Development Goals, through collaboration and innovation. Together, we can push further and faster to effectively address the world’s most pressing challenges.”
INNIO, a global provider of energy services, equipment and digital solutions for power generation and gas compression at or near the point of use, is relentlessly dedicated to being a model corporate citizen. As part of this effort, INNIO recently took a bold step in advancing sustainability in the power industry to build the first industrial scale hydrogen-fueled power plant. In close collaboration with HanseWerk Natur, INNIO initiated field testing of a 1-megawatt (MW) pilot power plant with a Jenbacher gas engine that represents the world’s first large-scale gas engine in the 1 MW range, capable of operating with variable hydrogen-natural gas mixtures or up to 100% hydrogen. INNIO’s efforts are being recognized as evidenced with its recent accolade of receiving a Silver Medal rating from EcoVadis, placing INNIO Jenbacher in the top 17% of its peers working towards sustainability.
In its capacity as a thought leader, INNIO always seeks new energy sources and better energy solutions to support its customers and their communities, while investing in its Jenbacher and Waukesha product lines and digital solutions to support the energy transition. Its gas engines—many of which have passed stringent sustainability tests for efficiency and energy savings—offer industry-leading emission levels and reduced carbon footprints. INNIO’s gas engine fleet helps to provide a more sustainable future by developing new, innovative low-carbon technologies, such as its hydrogen-ready Jenbacher gas engine technology. Its Waukesha gas engines help customers achieve low emissions and responsibly produce natural gas now and in the future. INNIO’s digital products and solutions play an important role in reduction of emissions and remote smart management of assets for our customers.
In 2021, EcoVadis awarded INNIO Jenbacher a silver medal to honor its engagement for a climate-neutral, greener, and more secure energy future. This places INNIO Jenbacher in the top 17% of its peers working towards sustainability.
About INNIO
INNIO is a leading provider of renewable gas, natural gas, and hydrogen-based solutions and services for power generation and gas compression at or near the point of use. With our Jenbacher and Waukesha gas engines, INNIO helps to provide communities, industry and the public access to sustainable, reliable and economical power ranging from 200 kW to 10 MW. We also provide life-cycle support and digital solutions to the more than 53,000 delivered gas engines globally, through our service network in more than 100 countries. We deliver innovative technology driven by decarbonization, decentralization, and digitalization to help lead the way to a greener future. Headquartered in Jenbach, Austria, the business also has primary operations in Welland, Ontario, Canada, and Waukesha, Wisconsin, U.S. For more information, visit the company's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
Susanne Reichelt
INNIO
+43 664 80833 2382
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DUBLIN--(BUSINESS WIRE)--The "Permian Basin in the United States of America (USA), 2021 - Oil and Gas Shale Market Analysis and Outlook to 2025" report has been added to ResearchAndMarkets.com's offering.
The Permian Basin is the largest oil producing region in the United States. This hydrocarbon-rich formation is situated in West Texas and the adjacent region of Southeast New Mexico in the US. During 2019, crude oil production in the Basin averaged at 4.3 million barrels of oil per day (mmbd), peaking at 4.7 million in December 2019.
The upward trend continued till Q1 2020, with production averaging at 4.8 mmbd. However, dropped energy demand and crashed oil price brought by Covid-19 pandemic, caused decrease in crude oil production in the basin during April to December 2020. The lowest levels of natural gas production since the end of Q1 2020 was observed in May 2020 with 14% drop to 14.8 bcfd, while lowest level of crude oil production was observed in September 2020 to 4.2 mmbd, which is a 12.5% drop compared to that of March 2020.
During Q1 2021, production in the basin continued to fall, attributing to the winter storm in the US. However, growing capital investment by major players in the basin is expected to support steady production growth over the next five years, with forecasts of exceeding pre pandemic level.
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Key Topics Covered:
1. Overview
1.1 Permian Basin, Recent Developments and Trends
2. Permian Basin, Introduction
2.1 Permian Basin, Formation Overview
3. Permian Basin, Production and Activity Overview
3.1 Permian Basin, Production Analysis, 2018-2020
3.2 Permian Basin, COVID-19 Impact on Production
3.3 Permian Basin, Production Outlook, 2021-2025
3.4 Permian Basin, Drilling Activity
3.5 Well profile
4. Permian Basin, Competitive Benchmarking
4.1 Permian Basin, Major Companies with Prominent Presence, 2021
4.2 Permian Basin, Financial Standings of Major Companies
4.3 Permian Basin, Operational Performance of Leading Operators
4.4 Permian Basin, Completion Parameters, 2019-21
4.5 Permian Basin, Plans of Major Companies
4.6 Permian Basin, Cost Trends, March 2021
5. Permian Basin, Analysis of Bankrupt Companies
5.1 Rosehill Resources
5.2 EP Energy
6. Permian Basin, Associated Infrastructure
6.1 Pipelines
7. Mergers and Acquisition Activity in the Permian Basin, 2019-2021
7.1 Overview of M&A Activity
7.2 Major Acquisitions
8. Permian Basin, Analysis of Major Companies
8.1 Apache Corporation
8.2 Chevron Corporation
8.3 Devon Energy Corporation
8.4 ExxonMobil Corporation
8.5 Occidental Petroleum Corporation
8.6 Royal Dutch Shell Plc
8.7 Cimarex Energy Company
8.8 Endeavor Energy Resources, L.P.
9. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/7lqzj
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ROCKVILLE, Md.--(BUSINESS WIRE)--#NewYork--New York’s largest community solar project connected to an energy storage system is nearing completion. Solar energy leader Standard Solar Inc. developed, installed and funded the community distributed generation (CDG) project in Lenox, NY. The Lenox Community Solar Project includes a 20-megawatt hour (MWh) DC-coupled battery directly charged from the 17,966 fixed-tilt and single-axis tracker solar modules.
Distributed Generation photovoltaic (PV) solar and storage have a natural, symbiotic relationship. Together, they help energy consumers meet increasing energy demands, aid the nation’s aging grid and achieve aggressive clean energy targets. The Lenox CDG or community solar + storage system will allow hundreds of area subscribers, homeowners and businesses who otherwise might not have access to solar to benefit from the power and savings of renewable energy.
The system is projected to generate 5,933.00 MWh in the first year of operation and reduce annual carbon offset by an estimated 264,931,764 pounds of coal burned.
“Community solar with battery storage is an extremely effective method for bringing the benefits of clean energy to as many people as possible while also transforming the U.S. electric grid,” said Daryl Pilon, Director of Business Development at Standard Solar. “The Lenox Community Solar Project is the kind of high impact asset that aligns with Standard Solar’s goal to scale renewables to help Americans lower their electric bills, innovate the energy industry and ensure the future of our planet.”
The system will bring environmental sustainability and savings to hundreds of residents and businesses and help National Grid meet its New York Clean Energy Standard requirements – to generate 70% of the state’s electricity through renewable sources by 2030.
New York is one of the top five states with the most community solar installations in the country in part due to Governor Cuomo’s NY-Sun initiative and Reforming the Energy Vision (REV) plan.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 200 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
PR:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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Use the Free Service for All Digging Projects Large or Small
SAN FRANCISCO--(BUSINESS WIRE)--Tomorrow, Wednesday 8/11 is National Safe Digging Day, serving as a reminder to PG&E customers, contractors and anyone digging to call 811 a minimum of two business days prior to starting any digging project, no matter how large or small. 811 is a free service for anyone planning to dig. Utility workers will respond at no cost to you and mark the location of any underground lines. Making that free call will help avoid injuries, property damage and costly repairs.
Warmer weather months see an increase in digging projects, and unfortunately many of those projects are proceeding without a free call to 811 to have underground utilities marked for project sites. In fact, throughout PG&E’s service area of Northern and Central California:
As part of 811 Day, PG&E will be conducting 811 Safe Digging Webinars on Wednesday, August 11 at 7:00 A.M. and 3:30 P.M. and on Saturday, August 14 at 9:00 A.M. Customers can join to learn about the 811 process and how to safely dig once all underground lines have been marked. There will also be a live Q&A session as part of each webinar. To access the webinars, visit pge.com/811.
“Calling 811 before your digging project, no matter how large or small, to have the location of underground utility lines marked will help keep you, your families and neighbors safe and connected to essential utility services,” said Joe Forline, senior vice president of Gas Operations for PG&E. “811 is a free service, and calling 811 and digging safely will help both homeowners and contractors avoid costly repair bills that can be in the thousands of dollars.”
Utility lines can be shallow, sometimes only a few inches below the surface, due to erosion, previous digging projects and uneven surfaces. Utility lines need to be properly marked because even when digging only a few inches or digging in a location that’s previously been marked, the risk of striking an underground utility line still exists. A call to 811 is the best safeguard and the first line of defense to preventing strikes on underground utility lines.
When calling 811, homeowners and contractors are connected to USA North, the local one call center, which notifies the appropriate utility companies of their intent to dig. Requests for a single address can also be made online at 811express.com. Professional locators then arrive at the digging site to mark the approximate locations of underground lines with flags, spray paint or both. Underground Service Alert of Northern/Central California and Nevada (USA North) is staffed 24 hours a day, seven days a week, and will provide Spanish and other translation services.
Key Facts
PG&E Safe Digging Tips
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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ARLINGTON, Va.--(BUSINESS WIRE)--#NSTA--Shell Oil Company and the National Science Teaching Association today announced the recipients of the annual Shell Urban Science Educator Development Award. In lieu of the in-person event that typically takes place annually at the NSTA National Conference, the awardees (listed below) were formally recognized in May for their achievement during a virtual award ceremony.
Shell Urban Science Educator Development Awardees:
“Diverse science teachers serving in challenging environments must receive professional development to engage all students in inquiry-based and hands-on activities,” said Frazier Wilson, VP, Shell Oil Company Foundation Director, Workforce Development and Diversity Outreach. “Our investment in their development will also create a pipeline for their participation in science leadership initiatives while strengthening recruitment and retention of technical and inventive talent from underrepresented groups that will help solve the complex problems of today’s world and its future.”
Created for K–12 classroom science teachers in urban settings, the Shell Urban Science Educator Development Award is designed to help strengthen quality science teaching and enhance teacher content knowledge.
“We all know the value of a great teacher, and every one of these award winners has proven themselves to be both outstanding and inspirational,” said Dr. Elizabeth Allan, NSTA Retiring President.
Each of the teachers received $1,800 and expenses to attend NSTA’s Engage: Spring21 virtual conference, which took place April 12-May 8.
More information about the Shell Urban Science Educator Development Award and the NSTA Teacher Awards Program can be found online at http://www.nsta.org/about/awards.aspx.
About Shell Oil Company
Shell Oil Company is an affiliate of the Royal Dutch Shell plc, a global group of energy and petrochemical companies with operations in more than 70 countries. In the U.S., Shell operates in 50 states and employs more than 20,000 people working to help tackle the challenges of the new energy future.
About NSTA
The National Science Teaching Association (NSTA) is a vibrant community of 40,000 science educators and professionals committed to best practices in teaching science and its impact on student learning. NSTA offers high quality science resources and continuous learning so that science educators grow professionally and excel in their career. For new and experienced teachers alike, the NSTA community offers the opportunity to network with like-minded peers at the national level, connect with mentors and leading researchers, and learn from the best in the field.
Kate Falk, NSTA
(703) 312-9211
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) today announced that Carrie L. Weaver has been named vice president, Commercial, Evolutionary Technology, and will report to Co-Chief Executive Officer for Enterprise’s general partner A.J. “Jim” Teague. The Evolutionary Technology team, which was formed in May 2021, consists of a dedicated technical team focused on identifying, evaluating and developing opportunities related to the energy evolution, including carbon capture and storage, hydrogen, and low-carbon fuels. Ms. Weaver joins the team to develop commercial strategies to progress emerging ideas into profitable and sustainable market solutions and to advance discussions with external parties to develop projects leveraging Enterprise’s midstream network and technical capabilities to support the evolving energy industry.
“Enterprise is committed to being a leader in this changing energy landscape by providing new services that utilize our integrated asset footprint, expansive industry connectivity, reputation for reliability and ability to deliver dependable results for our customers,” said Teague. “The addition of Carrie to our recently formed Evolutionary Technology team gives us an experienced and accomplished presence as we move forward with commercializing projects that are profitable and complement our business model, while advancing a low-carbon economy.”
Ms. Weaver joined Enterprise in 2013 from Exxon Mobil Corporation and most recently served as vice president, Commercial, Regulated Pipelines for the eastern region. She holds a Bachelor of Science degree in Chemical Engineering from Virginia Tech.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise their respective forward-looking statements, whether as a result of new information, future events or otherwise.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
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The Riviera Beach, FL plant will be the only U.S. facility to produce heterojunction solar modules, delivering high-efficiency, longer lasting solutions for the residential and commercial solar market
SAULT STE. MARIE, Ontario--(BUSINESS WIRE)--Heliene, a Customer-First provider of North American made solar modules, today announced it will open its third North American solar module manufacturing facility located in Riviera Beach, Florida. The new facility is Heliene’s second plant in the United States, increasing its manufacturing capacity by an additional 100 megawatts (MW). Heliene will begin manufacturing operations at the new facility in September 2021.
Heliene is expanding upon its product suite of high-quality, North American produced solar modules, which to date have been designed and manufactured in multiple configurations in Minnesota and Ontario, Canada. The Florida plant will be the only facility in the U.S. to produce super high-efficiency heterojunction solar cell modules for residential and commercial applications. Heterojunction solar cell modules deliver more power per unit area, more units of electricity over the life of the module, and greater reliability compared to conventional high efficiency modules – all in an aesthetically-pleasing, low-profile package.
“With the launch of the Florida facility, Heliene is strongly positioned to meet the significant forecasted demand for residential and commercial solar in the U.S. through our industry-leading module technology and manufacturing efficiency,” said Martin Pochtaruk, CEO, Heliene. “Heterojunction module technology changes the economics of solar, giving our customers greater production density when designing residential and commercial installations. Delivering the most superior products available with a just-in-time solution and always-available customer support is critical to our strategy to increase clean energy access across North America.”
Heterojunction cell technology combines the advantages of N-type crystalline silicon with the excellent absorption and passivation of amorphous silicon. Heliene’s 66 cell Heterojunction 370W module uses multiwire technology and 18 round microwires in place of traditional flat busbars, which reduces shading by 25 percent by creating a light trapping effect. The N-type silicon results in extremely low light induced degradation (LID) and potential induced degradation (PID), guaranteeing more power over the lifespan of the module. The heterojunction module is also excelling in low light and high temperature conditions.
The 75,000 square foot Riviera Beach facility will create over 60 new manufacturing, maintenance, engineering and logistics jobs in the area. As a member of the Solar Energy Manufacturing for America (SEMA) Coalition, Heliene is committed to generating well-paying manufacturing jobs in the U.S. and strengthening America’s solar supply chain to accelerate clean energy adoption and reach national decarbonization targets.
With over five percent of the company’s revenue invested in R&D annually, Heliene’s modules are produced with an advanced PV bill-of-materials, ensuring durability and aesthetics. The modules undergo yearly independent third party engineering evaluations to ensure long-term reliability and are approved for projects financed by major banking institutions worldwide.
Heliene is currently accepting orders for the 66 cell Heterojunction 370W module.
About Heliene
Heliene is one of North America’s fastest-growing domestic module manufacturers serving the utility-scale, commercial, and residential markets. With an in-house logistics team and remarkably responsive support staff, Heliene delivers competitively priced, high performance solar modules precisely when and where customers need them to accelerate North America’s clean energy transition. Founded in 2010, Heliene consistently ranks as a Bloomberg New Energy Finance Tier 1 module manufacturer and has production facilities located in Canada, Minnesota and Florida. For more information, visit www.heliene.com.
Annika Harper
PR Director
Antenna Group
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MERRILLVILLE, Ind.--(BUSINESS WIRE)--#environmentalservices--Tradebe, a global environmental leader, is once again among the Top 200 Environmental Firms, ranked by respected publisher Engineering News-Record (ENR) for 2021. This ranking of key firms covers the global environmental marketplace, which ENR updates annually in line with its mission to report on worldwide architecture, engineering and construction industries.
For 2021, ENR has ranked Tradebe at #8 in Hazardous Waste Management and #30 Overall based on total global revenue in Environmental Services.
Tradebe’s accomplishment is further highlighted against a challenging past year of economic uncertainty.
“Our commitment to best-in-class services remains unchanged, as ENR’s ranking has shown. I would like to congratulate all of our employees for their huge effort during a tough year— it has paid off in part by this recognition,” says Jeff Beswick, Tradebe USA CEO.
Tradebe’s ranking as a top performer in the environmental industry is supported by 5 key pillars essential to its mission. Our strategy pairs experienced and highly trained chemists on a national scale to provide high quality service for each customer. With safety as a priority, Tradebe provides safe and reliable waste management solutions.
With these 5 pillars of business in place, Tradebe is the name you can trust to get the job done.
For more information on how Tradebe can assist your waste management, please call us at (800) 388-7242 Nationwide, (888) 276-0887 in the Northeast or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information on ENR, please visit www.enr.com.
ABOUT TRADEBE
Tradebe is a leading global company in the environmental sector serving several markets, including the industrial, petrochemical, pharmaceutical, oil and gas sectors, etc. Tradebe employs approximately 2,500 people worldwide and operates more than 90 facilities in Europe (Spain, UK, France, Germany and Italy) and United States. www.tradebe.com www.tradebe.co.uk
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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Jackie Sheppard, Chair of Emera Inc. (TSX: EMA), announces the appointment of Gil Quiniones to Emera’s Board of Directors, effective today.
“Gil will be a tremendous contributor to the Emera Board,” says Sheppard. “He brings extensive experience and is one of today’s energy industry leaders driving innovation, new technologies and cleaner energy solutions for customers.”
Mr. Quiniones’ career spans 30 years and extends across regulated and unregulated utility markets, public utilities, and state and local governments.
As President and CEO of the New York Power Authority (NYPA), Mr. Quiniones is playing a key role in state-led energy reform initiatives to empower customers and encourage the growth of clean renewable energy and energy efficiency. He has also served as Chief Operating Officer and Executive Vice President, Marketing Sales and Corporate Affairs at the NYPA. Previously, he was Senior Vice President of Energy and Telecommunications at the New York City Economic Development Corporation.
Mr. Quiniones is a member of numerous not-for-profit boards and energy research associations in the U.S., including Chair of GridWise Alliance, past Chair and current board member of the Electric Power Research Institute and Vice Chair of the New York Energy Research and Development Authority.
Mr. Quiniones grew up in the Philippines and earned his Bachelor of Science degree in Mechanical Engineering from De La Salle University in Manila. He lives in New York with his family.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments throughout North America, and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F and EMA.PR.H. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional Information can be accessed at www.emera.com or at www.sedar.com.
Media
Dina Seely
(902) 478-0080
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Unprecedented Market Momentum Attributed to Strategic Acquisitions, Increased Value for Customers and Unmatched Global Capabilities
CHICAGO--(BUSINESS WIRE)--project44, the global leader in real-time supply chain visibility, announced record growth in Q2, including enterprise net dollar retention of 129% and 123% year-over-year growth in ARR. Already the largest visibility platform company as measured by ARR, customer count, and carriers, project44’s ARR in Q2 was more than the sum of the next top six visibility companies combined for the same quarter.
Global supply chain disruptions coupled with significant market excitement surrounding the acquisition of ClearMetal and Ocean Insights contributed to a surge in customers selecting project44 in Q2. The project44 Platform now supports more than 680 global shippers and third-party logistics providers and offers visibility into a network of more than 110,000 multimodal carrier integrations and 1.8M assets – the largest carrier network available in a visibility platform today.
“Over the past year, nearly every organization across the globe has dealt with the impact of supply chain disruptions caused by hurricanes, trade wars, port blockages, floods or the global pandemic,” said Jett McCandless, CEO and founder of project44. “These organizations are flocking to our multimodal visibility platform because it helps them get ahead of challenges before they happen and move from a reactive posture to a more agile, proactive approach.”
Continuously Adding Value for Customers
project44 is the largest ARR and fastest growing SaaS platform for real-time, end-to-end transportation visibility. In Q2, project44 closed its Series E investment of $202M co-led by investors Goldman Sachs Asset Management (Goldman Sachs) and Emergence Capital. The acquisition and subsequent integration of ClearMetal and Ocean Insights helped to drive 74 new customers to the platform in Q2 – including 44 new global shippers who chose project44 as their visibility platform of choice – a 573% year-over-year increase in new logo growth.
ClearMetal brought the world’s top data scientists and machine learning experts in logistics along with three data-quality related patents (pending). Ocean Insights added unmatched ocean visibility, together bringing more than 500% growth in combined quarterly ocean visibility sales and $2.9M ARR for Ocean in Q2.
“To say that project44’s Ocean Insights and ClearMetal acquisitions have been well-received by our customers and the market would be an understatement,” said McCandless. “With ClearMetal data science and machine learning expertise allowing us to solve the core challenges of multimodal transportation visibility and ETAs for our customers, and Ocean Insights allowing us to fill the ocean visibility gaps that customers had previously faced, the value that the project44 Platform delivers to our customers has increased exponentially, resulting in an explosive quarter.”
Today, more than 680 of the world’s leading brands rely on project44, including:
project44’s win rate against competitors continued to improve. For Q2 new business deals, customers selected project44 versus North American competitors 84% of the time, and versus European competitors 92% of the time.
Top reasons cited by customers include:
“If the past 18 months have taught us anything, it’s that the global supply chain is in a state of flux, and will continue to be for the foreseeable future,” said Jamie Bragg, Chief Supply Chain Officer from Tailored Brands, Inc. “Enhanced visibility combined with state-of-the-art business intelligence of where our raw materials are, as well as the products we are manufacturing and purchasing around the globe, are going to be table stakes for the supply chains of the future. project44 will allow us to better manage our inventory, labor and consumer expectations in a way that positively affects both the top and bottom line of our business.”
The company’s hypergrowth in Q2 builds on its strong Q1 performance with more than 100% growth in ARR.
Geographic Expansion
project44’s investment in geographic expansion resulted in unprecedented growth in Europe, with a 223% increase in new customers selecting project44 year-over-year. The company’s aggressive carrier network expansion and commercial efforts focused on several areas, including carrier recruitment and data science to deliver the industry’s most complete global data across all transportation modes and borders, and industry leading customer success.
In Q2, project44 signed a strategic global partnership with CEVA Logistics expanding project44’s footprint in growth regions, including Brazil, Italy, United Kingdom, Turkey, Netherlands and Australia.
“CEVA Logistics is a global organization, so we were looking for a partner that could help us manage very complex supply chain scenarios at scale. project44’s holistic supply chain vision and the size and quality of their carrier network, combined with their industry leading visibility platform and uniquely experienced, global team made them the right choice for CEVA,” said Xavier Bour, Global Head of Ground at CEVA Logistics. “After looking at the options available to us and speaking with some of their customers, I was convinced that project44 was the best organization to help CEVA Logistics deliver responsive logistics solutions to our customers,” he continued.
In Q2, the company continued to expand its commercial efforts in Asia. The company announced real-time shipment tracking services in China giving project44 customers the same transportation visibility in Asia Pacific that it offers across North America and Europe.
Market-Leading Platform for Innovation
project44 continued to invest in platform, ecosystem and data science capabilities that deliver the most complete end-to-end supply chain visibility. In the area of workflow automation, project44 customers experienced streamlined carrier onboarding processes, proactive shipment planning and enhanced transportation schedule management across modes of transportation and geographies. As a category leader, named as a Leader in the 2021 Gartner Magic Quadrant for Real-time Transportation Visibility, the company is uniquely positioned to attract and acquire other top companies in respective Logistics categories.
Team Growth
project44 closed Q2 with 511 global team members in 16 offices across 4 continents, including 13 offices in Europe. The company welcomed ~40 new team members though the ClearMetal acquisition and established a new center of excellence in San Francisco. Key new team members include Sanida Bratt, SVP Product, and Q Carlson, SVP Design. Michael Wallraven joined project44 as VP and Managing Director for Germany, Austria and Switzerland, where he is responsible for all commercial initiatives. He brings more than 25 years of experience in B2B growth leadership as well as supply chain expertise from his successful track record at LLamasoft and GT Nexus. For more information about career opportunities visit https://www.project44.com/about/careers.
To learn more about the technology that has established project44 as the industry leader in end-to-end supply chain visibility, visit http://project44.com.
About project44
project44 is the world’s leading advanced visibility platform for shippers and logistics service providers. project44 connects, automates and provides visibility into key transportation processes to accelerate insights and shorten the time it takes to turn those insights into actions. Leveraging the power of the project44 cloud-based platform, organizations increase operational efficiencies, reduce costs, improve shipping performance, and deliver an exceptional Amazon-like experience to their customers. Connected to thousands of carriers worldwide and having comprehensive coverage for all ELD and telematics devices on the market, project44 supports all transportation modes and shipping types, including Air, Parcel, Final-Mile, Less-than-Truckload, Volume Less-than-Truckload, Groupage, Truckload, Rail, Intermodal, and Ocean. In 2021, project44 was named a Leader among Real-Time Transportation Visibility Providers in Gartner’s Magic Quadrant. To learn more, visit www.project44.com.
Rebecca Selby
SVP, Corporate Marketing
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AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (NASDAQ:REGI) today announced that its management team is scheduled to attend the following virtual investor conferences. Attendance at these conferences is by invitation only for clients of each respective firm. Interested investors should contact your respective sales representative to register and for one-on-one meetings to secure a time.
About Renewable Energy Group
Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by transforming renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Investor Relations:
Renewable Energy Group
Todd Robinson
Deputy Chief Financial Officer and Treasurer
+1 (515) 239-8048
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Solar industry’s leading MLPE company to deliver solar installer training and education on August 10th and 11th at the preeminent PV training conference in Knoxville, Tennessee
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced that the company will be training solar installation professionals on how to “choose the right MLPE feature set for performance, monitoring, and PV safety” at the upcoming North American Board of Certified Energy Practitioners (NABCEP) conference. With over 1GW of RSD supplied in the past twelve months, Tigo holds the leadership position and continues to invest in education. This coursework will enable PV industry professionals to earn continuing education credits while learning skills required in the growing solar market.
Tigo Energy is uniquely positioned to provide installers with guidance and training on this topic, as the company’s TS4 Flex MLPE (Module Level Power Electronics) gives customers the freedom to choose the right features, inverter, and module for their solar installation. The products provide optimization in an effort to increase energy output, monitoring to lower operating expenses, and rapid shutdown to enhance safety and meet the NEC code requirements. Augmenting these choices, Tigo recently released the Energy Intelligence (EI) platform to simplify fleet management for installers.
Greg Smith, Tigo director of training, will be leading these technical sessions at the NABCEP conference. Since 2008, Smith has trained thousands of solar energy installers, designers, inspectors, and utility engineers and has spoken at numerous conferences around the world. In addition to his chairmanship of the NABCEP Veteran's Committee, he is a published author on residential solar-plus-storage. Smith recently joined Tigo with a mission to educate and train solar installers internationally.
“The Tigo Energy goal is to ensure PV professionals have the tools to use MLPE hardware and software to sell more systems, save money on operations and maintenance, and enhance system owner satisfaction,” according to Dru Sutton, Tigo vice-president of North American sales. “Greg’s session will help them to go beyond rapid shutdown for code compliance and use MLPE for monitoring and optimization as well.”
Smith will be presenting in Room 301c from 9:00-10:30 AM on August 10, 2021 and again in Room 301B from 4:30-6:00 PM on August 11, 2021. Tigo representatives will also be available at the conference for additional consultation.
To learn more about Tigo, visit the Tigo website. To engage in the Tigo community and find answers to solar industry-related questions, visit the newly released Tigo Energy Forum.
About Tigo Energy
Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.
Media Contact for Tigo
John Lerch
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