Combination creates a leading NETA accredited services provider with 16 offices throughout North & South America and a base of 180 technicians and engineers
EDMONTON, Alberta & TIPP CITY, Ohio--(BUSINESS WIRE)--Copley Equity Partners LLC (“Copley”), a private investment firm focused on growing middle market companies, today announced the merger of Magna IV Engineering, Inc. (“Magna IV”) and Power Solutions Group Ltd. (“Power Solutions”). Kelly Butz, CEO of Magna IV, and Barry Willoughby, Owner of Power Solutions, have retained significant ownership and will continue to lead the combined business. Financial terms were not disclosed.
Combining Magna IV and Power Solutions creates a leading provider of International Electrical Testing Association (“NETA”) accredited electrical testing, maintenance, and repair services as well as electrical engineering services with deep expertise in high downtime cost industries including industrial, data center, oil & gas, utility, mining, agriculture, infrastructure and commercial end markets. Furthermore, the Company will leverage its base of 180 technicians and engineers across 16 offices throughout the U.S., Canada and Chile to continue providing critical electrical power grid solutions to its customers.
Andy Miller, Managing Director at Copley Equity Partners, said, “Copley is excited to merge two leading NETA accredited firms to strengthen the platform’s technical capabilities. Combining Magna IV and Power Solutions’ expertise and broad geographic presence will create a one-stop power solutions provider for our customers. We look forward to supporting and accelerating Magna IV and Power Solutions’ growth plan both organically and through acquisitions.”
Kelly Butz, CEO of Magna IV, said, “Power Solutions is a strong partner for us and brings to Magna IV deep experience and strong customer relationships within the attractive industrial, data center and infrastructure markets. Combined, our companies will be even better positioned to continue serving our customers' technical service needs.”
Barry Willoughby, Owner of Power Solutions commented, “We are delighted to partner with Magna IV which has almost 40 years of strong operational experience and a particularly strong presence in Canada as well as Copley Equity Partners which brings substantial knowledge and resources to help us execute on our strategic growth plan.”
About Magna IV Engineering
Founded in Edmonton, Canada in 1982, Magna IV Engineering is a NETA accredited power & automation solutions provider, focusing on electrical engineering and technical field services. Magna IV designs, commissions, maintains, and repairs power and control systems anywhere electricity is used. www.magnaiv.com
About Power Solutions Group
Founded in Tipp City, Ohio in 2006, Power Solutions Group is a NETA accredited power & automation solutions provider, focused on timely innovative solutions to create safe high-powered electrical systems. Power Solutions’ engineers and technicians have years of experience in detecting, preventing, troubleshooting, and solving a wide variety of power distribution issues in the industrial world through testing, new technology, and custom switchgear fabrication. www.powersolutionsgroup.com
About Copley Equity Partners
Established in 2012, Copley is a private investment firm with offices in Denver and Boston. Copley partners with growing, lower-middle market private companies. The firm invests out of an evergreen, single family office capital base and is comfortable in both majority and minority ownership positions. Copley’s patient and flexible capital base allows the firm to provide each portfolio company significant support post investment. www.copleyequity.com
Magna IV Engineering
Kelly Butz, (780) 462-3111
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Power Solutions Group
Barry Willoughby, (937) 538-0015
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Copley Equity Partners
Andy Miller, (720) 439-8499
Peter Trovato, (617) 249-5354
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NEW YORK--(BUSINESS WIRE)--A new study by Standard Chartered reveals that 78 per cent of multinationals (MNCs) will remove suppliers that endanger their carbon transition plan by 2025.
According to Carbon Dated, which looks at the risks and opportunities for suppliers in emerging and fast-growing markets as large corporates transition to net zero, MNCs expect to exclude 35 per cent of their current suppliers as they transition away from carbon.
The study also found that:
The net-zero supply chain revolution
Racing against the clock to hit their net-zero carbon goals, MNCs are increasing the pressure on their suppliers to become more sustainable, with companies based in emerging and fast-moving markets facing the biggest challenge.
Some 64 per cent of MNCs believe emerging market suppliers will struggle more than developed market suppliers to meet their emission reduction targets, with a further 57 per cent prepared to replace emerging market suppliers with developed market suppliers to aid their transition.
MNCs are concerned that emerging market suppliers are failing to keep pace for two key reasons; insufficient knowledge and inadequate data. Some 56 per cent of MNCs believe that the lack of knowledge among emerging market suppliers (41 per cent for developed market suppliers) is a barrier to decarbonisation.
With MNCs struggling with the quality of data, two-thirds are using secondary sources of data to plug the gap left by supplier emissions surveys. A further 46 per cent say that unreliable data from suppliers is a barrier to reducing emissions.
Risks and rewards
The study also reveals that the current approach taken by MNCs could create a USD1.6tn opportunity for the net-zero club: those businesses reducing emissions in line with MNC net-zero plans.
This represents a major opportunity for net-zero-focused suppliers across the 12 markets in this study, but also quantifies the potential losses to companies not embracing net-zero transition.
Market |
Annual export revenue at risk |
China |
USD512.3bn |
India |
USD273.7bn |
Hong Kong |
USD205.5bn |
Singapore |
USD146.6bn |
South Korea |
USD142.5bn |
The UAE |
USD119.6bn |
Malaysia |
USD65.3bn |
Nigeria |
USD34.3bn |
South Africa |
USD33.7bn |
Indonesia |
USD25.6bn |
Bangladesh |
USD18.7bn |
Kenya |
USD3.9bn |
MNCs are also willing to spend more on net-zero products and services. Some 45 per cent said they would pay a premium, of 7 per cent on average, for a product or service from a net-zero supplier.
Carbon, collaboration and compromise
MNCs are exploring other ways to help their suppliers’ transition to net zero. Some 47 per cent are offering preferred supplier status – a sales advantage – to sustainable suppliers, and 30 per cent are offering preferential pricing.
Some MNCs are going further, offering grants or loans to their suppliers to invest in reducing emissions (18 per cent) or data collection (13 per cent).
How are MNCs supporting their suppliers to reach net-zero? |
Percentage |
Offering preferred supplier status to sustainable suppliers |
47 per cent |
Investing in new technologies on behalf of their suppliers |
46 per cent |
Helping educate them on effective energy efficiency strategies |
37 per cent |
Helping educate them on reducing waste from their operations |
36 per cent |
Providing access to industry specialists who will help suppliers reduce emissions |
35 per cent |
Investing in clean energy infrastructure in key suppliers' local markets |
31 per cent |
Preferential pricing for measurably sustainable suppliers |
30 per cent |
Grants or loans to invest in reducing emissions from operations |
18 per cent |
Grants or loans to invest in data collection |
13 per cent |
Jeremy Amias, Vice-Chairman at Standard Chartered Americas, says: “Reducing supply chain emissions will materially support many North American companies’ progress towards their net-zero ambitions. Through collaboration and partnerships, corporations have a unique opportunity to require sustainable supply chains and set in motion commerce that enables the economy and the planet to prosper together.”
Carbon Dated surveyed 400 sustainability and supply chain experts at MNCs across the globe.
Standard Chartered
We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Our history in the US dates back to 1902, and we are currently present in eight locations throughout the Americas. Our Americas franchise focuses on financial institutions and select corporates and plays a key role in facilitating trade and investment flows between the Americas and Asia, Africa, and the Middle East.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
Chris Teo
Head of Corporate & Business Communications, Americas
Standard Chartered Bank
Tel: +1 212 667 0446
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Sammi He
Communications Manager
Corporate Affairs, Brand & Marketing, Americas
Standard Chartered Bank
Tel: +1 862 448 8488
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NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--$SPRQ #SPRQ--Sunlight Financial, a premier, technology-enabled point-of-sale financing company, today announced that its Chief Executive Officer, Matt Potere, and Chief Financial Officer, Barry Edinburg, will participate in two investor conferences this week:
Both events will be accessible at the time of the respective event via a link to a live webcast on Sunlight’s website at www.sunlightfinancial.com/investors.
A transcript of each webcast will be filed with the Securities and Exchange Commission as a Rule 425 Prospectus by Spartan Acquisition Corp. II and on that date, a replay recording of the webcast of the respective fireside chat will be accessible through Sunlight’s website at www.sunlightfinancial.com/investors. This replay will be available for 90 days following the conclusion of the event.
Business Combination Transaction
On January 23, 2021, Sunlight entered into a business combination agreement with Spartan Acquisition Corp. II (NYSE: SPRQ). The business combination is expected to close late in the second quarter or early in the third quarter of 2021. Upon closing of the transaction, the combined public company will be named Sunlight Financial Holdings Inc. Sunlight Financial LLC will be the new public holding company’s sole operating subsidiary and Sunlight’s existing management team will continue to lead the business. Sunlight Financial Holdings Inc. expects to be listed on NYSE and has reserved the ticker “SUNL” following completion of the business combination.
About Sunlight Financial
Sunlight Financial is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
Forward Looking Statements
The information in this press release and any presentations related thereto may include “forward-looking statements” related to Sunlight Financial LLC (“Sunlight” or the “Company”) within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements may include, but are not limited to, statements regarding estimates and forecasts of operating and financial measures or metrics (and the assumptions related to their calculation) such as Sunlight’s projected revenue, expenses, market share, Adjusted EBITDA, Adjusted EBITDA Margin, Free Cash Flow, operating expenses, credit approvals, funded loan volume, and expected capital commitments for 2020-2023 or specified periods or years within such time period, projections of growth, market opportunity and market share, the impact of COVID-19 on the Company and its business and operations, the growth of the solar industry, product mix, and factors outside of the Company’s control such as macroeconomic trends, public health emergencies, natural disasters and the impacts of climate change. These forward-looking statements are not guarantees of future performance, reflect the current views and expectations of Spartan Acquisition Corp. II’s (“Spartan”) and Sunlight‘s management, are based on various assumptions, whether or not identified herein, and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from expectations or results projected or implied by such forward-looking statements. Such risks and uncertainties include, among others: changes in domestic and foreign business, market, financial, political and legal conditions; the inability of Spartan and Sunlight to successfully or timely consummate the proposed business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the stockholders of Spartan or Sunlight is not obtained; failure to realize the anticipated benefits of the proposed business combination; the amount of redemption requests made by Spartan’s public stockholders; the ability of Spartan or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; the Company’s ability to attract and retain the Company’s relationships with third parties, including the Company’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Spartan’s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the United States Securities and Exchange Commission (the “SEC”) on March 11, 2021, as amended on May 11, 2021, and Registration Statement on Form S-4 as filed with the SEC on March 22, 2021, as amended on May 12, 2021 and June 1, 2021, and other documents of Spartan filed, or to be filed, with the SEC. All forward-looking statements used herein speak only as of the date they are made and are based on information available at that time. Neither Spartan nor Sunlight assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
Important Information for Investors; Participants in Solicitation
In connection with the transactions (the “Transactions”) contemplated by that certain Business Combination Agreement, dated as of January 23, 2021, by and among Sunlight, Spartan and their subsidiaries and affiliates party thereto, Spartan has filed a Registration Statement on Form S-4, as amended (which includes a proxy statement/prospectus of Spartan) and other relevant documents with the SEC. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In addition, nothing contained herein should be construed as legal, financial, tax or other advice. SECURITY HOLDERS OF SPARTAN AND SUNLIGHT ARE URGED TO READ (1) THE REGISTRATION STATEMENT, (2) THE PROXY STATEMENT/PROSEPCTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO), (3) OTHER DOCUMENTS RELATING TO THE TRANSACTIONS THAT WILL BE FILED WITH THE SEC BY SPARTAN, AND (4) ADDITIONAL PRESS RELEASES FROM SUNLIGHT AND SPARTAN FOUND ON THEIR RESPECTIVE WEBSITES, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE, BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTIONS. Spartan’s and Sunlight’s stockholders can obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about Spartan, Sunlight and the Transactions, without charge, at the SEC’s website located at www.sec.gov. Spartan and its directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Spartan’s stockholders with respect to the proposed business combination and the other matters set forth in the proxy statement/prospectus. Information regarding Spartan’s directors and executive officers is available under the heading Item 10. “Directors, Executive Officers and Corporate Governance” included in its Annual Report on Form 10-K filed with the SEC on March 11, 2021 and regarding the combined company’s proposed directors and executive officers after the Transactions are consummated, as well as a description of their direct and indirect interests, by security holdings or otherwise is available under the headings “Management After the Business Combination”, “Interests of Certain Persons in the Business Combination” and “Beneficial Ownership of Securities” included in its Registration Statement on Form S-4/A as filed with the SEC on May 12, 2021 and June 1, 2021, and other relevant documents that may be subsequently filed with the SEC.
Media:
Investor Relations
Lucia Dempsey
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888.315.0822
Public Relations
Doug Donsky / Brian Ruby, ICR
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646.677.1844
Project redevelops former petroleum storage facility for clean solar energy production
EAST PROVIDENCE, R.I--(BUSINESS WIRE)--GZA GeoEnvironmental Inc. (GZA), a leading multi-disciplinary firm providing geotechnical, environmental, ecological, water, and construction management services, has helped Kearsarge Energy successfully develop and commission a 2.8-megawatt solar energy array on a former petroleum storage facility that is undergoing environmental remediation.
The project, on a 9.5-acre site on Dexter Road, includes 6,884 solar photovoltaic modules that will generate 3.5 million kilowatt-hours of electricity yearly, or enough to meet the needs of more than 300 typical Rhode Island households.
The Rhode Island Public Transit Authority (RIPTA) has agreed to purchase discounted net metered credits associated with the East Providence solar farm, which are projected to deliver RIPTA more than $5 million in savings over 20 years.
Kearsarge Managing Partner Andrew Bernstein said: “The GZA team was a critical component of our success as they led permitting, environmental compliance, and remediation and oversaw construction. The project adds to our nearly 80 megawatts of installed solar capacity across Rhode Island, and we are pleased that it proved to be beneficial for the landowner, the City of East Providence, The East Providence Waterfront Commission, RIPTA, and all involved stakeholders.”
GZA CEO Patrick Sheehan said: “There are few better examples of a ‘brownfield to brightfield’ solar redevelopment than Kearsarge Energy’s visionary and transformational East Providence solar installation. GZA is honored to have provided engineering, geotechnical, and permitting services to our longtime client Kearsarge and to help secure this site as a producer of clean energy, jobs, and local tax revenues.”
Under the oversight of the Rhode Island Department of Environmental Management (RIDEM), GZA has been leading a cost-effective remediation of subsurface petroleum product at the site through controlled biodegradation, bioventing, and other technologies, with one-third of the site closed in 2016. GZA demonstrated to RIDEM that the Kearsarge solar installation would be fully compatible with the site’s conditions and ongoing remediation efforts.
The East Providence project created 40 construction jobs, $280,000 in new annual property tax revenue for the city, and $362,500 in local electric grid infrastructure upgrades. More than 60 percent of the 9.5-acre site is being preserved as open space with new shrubbery, turf and other natural vegetation.
GZA has, to date, helped clients develop more than 2,500 megawatts of solar energy capacity across 13 states, on sites including landfills, rooftops, parking garages, greenfield developments, brownfield redevelopments, and multi-use properties.
About Kearsarge Energy Inc.
Kearsarge Energy L.P., based in Boston, is a leading renewable energy project development, finance, and asset management company, with a dual mission to help build a more sustainable world and to provide superior returns to stakeholders and the environment. Kearsarge is focused on building and deploying sustainable renewable assets that will help local communities meet the growing demand for commercial and utility-scale renewable energy projects. Visit www.kearsargeenergy.com or contact us at (617) 393-4222.
About GZA
GZA is a multi-disciplinary, employee-owned firm providing Geotechnical, Environmental, Ecological, Water and Construction Management services. GZA’s more than 700 professionals are based in 30 offices in New England, the Mid-Atlantic, and the Great Lakes States. Our corporate headquarters is at 249 Vanderbilt Avenue, Norwood, MA 02062.
Media contact: Angela Cincotta, GZA Chief of Marketing and Communications, 781-278-5777
- Appointed Global Lead of Quinbrook’s New Capital Formation and Investor Engagement Team
- Quinbrook Plans Significant Investment Push in Renewables Powering Industrial Decarbonization
NEW YORK--(BUSINESS WIRE)--Quinbrook Infrastructure Partners (“Quinbrook”), a specialist investor in renewables supply, storage and grid stability infrastructure, today announced the appointment of Brian Chase as Managing Director in the firm’s senior management team.
Chase will take up the global leadership role for Quinbrook’s newly formed Capital Formation and Investor Engagement team and will be based in New York. He will join Mark Burrows, Quinbrook’s Head of UK and Europe, to expand the team’s scope by leading new fundraising efforts and ongoing investor liaison.
Chase joins from BlackRock in New York where he was Managing Director in the Alternative Solutions Group and a member of the Investment Committee for the Infrastructure Solutions business. He has held senior roles previously as a partner with Campbell Lutyens, as an Infrastructure Consultant with the World Bank and in the infrastructure investment team at The Carlyle Group.
David Scaysbrook, Managing Partner of Quinbrook, said, “We couldn’t be more pleased to have Brian join our global team as we prepare for significant expansion of our investment strategies in renewable power and industrial decarbonization. Quinbrook has established a differentiated specialty in new value-add renewables with a laser focus on the U.S., the U.K. and Australia, which are among the top renewables markets according to EY’s latest Renewable Energy Country Attractiveness Index. Brian brings a host of relationships with leading institutional investors the world over and a deep knowledge of the infrastructure manager landscape. Brian will assist us in shaping new investment strategies and will lead our outreach to investors seeking compelling opportunities that are ‘true to label’ as long term, capital protected infrastructure assets at the heart of the energy transition.”
Chase said, “I am excited to join Quinbrook at such an important time in the firm’s growth. As a specialist and accomplished manager with a truly differentiated approach to generating ‘value-add’ returns for LPs, Quinbrook is operating at the intersection of higher returning, impactful and ESG outcome-driven strategies that I am confident will appeal to a diverse global audience of institutional investors. I look forward to helping the team form new, enduring investor relationships and mobilizing capital for the creation of new infrastructure assets that preserve jobs, support local communities, and will drive the energy transition towards more sustainable, greener energy systems.”
Chase added, “From what I have observed in the market, Quinbrook is genuinely ahead of the pack in their industry leadership and thoughtful investment strategies. I am delighted to be joining a growing and talented team that is committed to such meaningful work.”
About Quinbrook Infrastructure Partners
Quinbrook Infrastructure Partners (www.quinbrook.com) is a specialist investment manager focused exclusively on lower carbon and renewable energy infrastructure investment and operational asset management in the U.S., U.K. and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested over US $8 billion of equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of US $28.7 billion or 19.5 GW of power supply capacity. Quinbrook's investment and asset management team has offices in Houston, London, Jersey, and the Gold Coast of Australia. Quinbrook's global investment and portfolio company teams are actively developing and constructing a portfolio exceeding 17GW of onshore wind, solar PV, reserve peaking power, battery storage projects, grid support infrastructure, Virtual Power Plants and Community Energy Networks across the U.S., U.K. and Australia.
Jennifer Pflieger
(212) 446-1866
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HAMILTON, Bermuda--(BUSINESS WIRE)--#GCI--Global Container International LLC (“GCl”) today announced the successful offering of $253 million fixed rated asset backed notes secured by marine cargo containers subject to long-term lease. The Series 2021-1 offering consisted of Class A and Class B Notes rated A(sf) and BBB(sf) by both DBRS, Inc. and Kroll Bond Rating Agency. The Series 2020-1 Notes represents GCI’s second securitization, successfully expanding its asset backed issuance program to approximately $500 million, over the last 12 months. Credit Suisse was structuring agent and joint bookrunner and Deutsche Bank Securities was joint bookrunner.
Jeffrey Gannon, CEO of GCI, noted “We were extremely pleased with the market’s positive reception of our most recent offering that included 23 unique investors and very attractive pricing from both a spread and yield perspective. We look forward to expanding this asset backed program into the future.”
About the Notes
The Notes were offered within the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), to institutional “accredited investors” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act and to persons outside the United States in compliance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering would be unlawful.
About Global Container International LLC
Global Container International LLC is a Bermuda-based marine container leasing company with worldwide operations including offices or agency representation in the United States, Hong Kong, Shanghai, Singapore, Antwerp, Taipei, and Seoul. For more information please visit www.gcxint.com.
Global Container International LLC
Jeffrey Gannon, +1-339-203-0939
Chief Executive Officer
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Contract paves way for completing the military standard certification for high-tech portable power system developed by Advent subsidiary UltraCell
BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today announced that its subsidiary, UltraCell LLC, has received a contract from the U.S. Department of Defense (DoD) to focus on completing the MIL-STD certification of UltraCell’s 50 W Reformed Methanol Wearable Fuel Cell Power System (“Honey Badger”). The contract was signed with the U.S. Army DEVCOM Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) Center with funding through the Project Manager Integrated Visual Augmentation System (PM IVAS), which works to enhance the situational awareness capabilities of Soldiers.
This award is focused on advancing the Honey Badger for U.S. Army integration. The effort will drive efforts to complete the full MIL-STD and finalize integrated filtration for Cleaning Compound, Windshield NSN 9850-00-926-2275 to allow the use of logistically sound materials as the primary fuel source.
The cutting-edge Honey Badger is optimized to operate on a Soldier-worn plate carrier or ruck carried for “on the move” battery charging and is designed to integrate with materials already in the U.S. Army supply chain. The versatile, lightweight fuel cell was recently selected by the DoD’s National Defense Center for Energy and Environment (NDCEE) to take part in its 2021 demonstration/validation program (see announcement here). The Honey Badger is the only fuel cell to take part in this program, which is led by the C5ISR Center to support the goal of having a technology-enabled force by 2028.
Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, said: “This contract represents a key milestone as we work to expand our markets and position Advent’s products as the technology of choice for key defense applications. We are extremely excited about this development and believe it is yet further proof of how Advent’s “Any Fuel. Anywhere.” approach can solve our customers’ most pressing challenges.”
Ian Kaye, Advent Technologies Senior VP Product Development, added: “I am extremely pleased that the U.S. Army has decided to push forward with this effort. We have demonstrated through multiple Soldier employment scenarios that Honey Badger is the right design to meet the ongoing forward operating needs of the modern Soldier. So now the next logical step is to complete the extremely rigorous MIL-STD tests.”
UltraCell is developing the Honey Badger 20 W and 50 W portable generators for the U.S. Army IVAS (Integrated Visual Augmentation System), and surveillance systems are or can be served by UltraCell’s XX55™ GEN3 50 W reformed methanol fuel cell. The Honey Badger fuel cells combine spiraled advanced thermal management and catalysis technologies with existing designs to dramatically reduce the size and weight of the fuel cells. This increased power density coupled with UltraCell’s use of logistically available fuel sources is projected to significantly expand the user base of the fuel cells. The XX55™ is serving on the front lines for the war on terror and other strategic fronts.
Honey Badger Put to the Test
UltraCell is working to integrate Honey Badger technology improvements from the 20 W unit into the 50 W system. This technology is rapidly maturing and has recently completed successful field trials in Army Expeditionary Warrior Experiments (AEWE) and in high-altitude tests in California’s Sierra Nevada Mountain range.
The Honey Badger technology will help scale up and enable Advent to create derivatives for commercial and industrial markets through Methane emissions reduction programs.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible ‘Any Fuel. Anywhere’ option for the automotive, maritime, aviation, and power generation sectors. For more information, visit www.advent.energy.
Advent subsidiary UltraCell is a leader in lightweight fuel cells for the portable power market with mature products and cutting-edge technology. The portable battery chargers produced by UltraCell are the only "Made in USA" fuel cell products approved by the North Atlantic Treaty Organization (NATO), and one of the only two manufacturers across NATO. UltraCell units are already deployed in the field by U.S. military and security agencies. Three additional NATO allies are currently testing UltraCell systems. UltraCell’s fuel cell products have also been recognized and presented in multiple global NATO events. For more information, visit www.ultracell-llc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including the Company’s plans and expectations with respect to 50 W Reformed Methanol Wearable Fuel Cell Power System (“Honey Badger”). Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
Joe Germani / James Goldfarb
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HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. (NYSE: HLX) announced today that it will participate virtually in the Tudor, Pickering, Holt & Co. Hotter 'N Hell Conference on Thursday, June 10, 2021.
Any investor presentation provided during the conference will be publicly available and may be accessed on the “For the Investor” page of Helix’s website, www.HelixESG.com.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit our website at www.HelixESG.com.
Erik Staffeldt - This email address is being protected from spambots. You need JavaScript enabled to view it.
Ph: 281-618-0465
HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today the publication of its 2020 sustainability report furthering its commitment to build an MLP industry leading sustainability program. The report, entitled Shaping ESG in the Midstream Sector, provides enhanced transparency on Crestwood’s environmental, social and governance (ESG) performance and includes details on how the company is linking a broader set of ESG goals, such as its methane emissions intensity rate and diversity and inclusion performance, to employee compensation. Crestwood also highlights the progression of its three-year sustainability strategy as it continues to engrain sustainability across the business and into its culture. The 2020 sustainability report is available at https://esg.crestwoodlp.com.
“Crestwood is proud to issue its third annual sustainability report demonstrating significant progress and reporting enhancements in the midst of one of the most challenging years for our industry. This year’s report highlights our strength and positioning as a leading MLP midstream company as we continue to safely operate the vital infrastructure needed to deliver energy, while reducing emissions, improving operational efficiencies and seeking new opportunities to prudently grow our organization as our industry evolves in a lower-carbon future,” said Robert G. Phillips, Chairman, President and Chief Executive Officer of Crestwood’s general partner. “Crestwood continues to be an ESG thought leader in the midstream sector, and we have helped advance the standardization of ESG metrics across the industry in an effort to attract new investors as commodity prices begin to support increasingly favorable energy sector dynamics. We recognize the importance of collaborating with our peers on ESG efforts and are unwavering in our drive to position the company and the industry for long-term success.”
Joanne Howard, Crestwood’s Vice President, ESG and Corporate Communications, commented, “As an early adopter of ESG reporting, it has been rewarding to see the immense progress Crestwood has made on our sustainability strategy within the organization and across the MLP industry since we issued our inaugural report three years ago. With continuous improvement in mind, we will be refreshing our material topics later this year that will define the next phase of our strategy for the next three years of our program’s growth. The updated sustainability strategy will reflect the ever-changing environment that we operate in while continuing to mitigate ESG risks and seek opportunities that will propel our success in the future.”
While the 2020 sustainability report focuses on Crestwood’s performance during the 2020 calendar year, it highlights advancements made in early 2021 around improved corporate governance including board diversity and enhanced ESG key performance indicators tied to employee compensation.
Highlights of Crestwood’s 2020 sustainability report include:
Crestwood’s 2020 sustainability report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards - Core option and is aligned with the Sustainability Accounting Standards Board (SASB) midstream reporting framework and the Task Force on Climate-related Financial Disclosures (TCFD). New investor and ESG presentation materials are also posted to Crestwood’s website at www.crestwoodlp.com.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Forward Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
Crestwood Equity Partners LP
Investor Contacts
Josh Wannarka, 713-380-3081
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Senior Vice President, Investor Relations, ESG and Corporate Communications
Rhianna Disch, 713-380-3006
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Director, Investor Relations
Sustainability and Media Contact
Joanne Howard, 832-519-2211
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Vice President, Sustainability and Corporate Communications
SAN FRANCISCO--(BUSINESS WIRE)--Scepter is an AI and data analytics company that was founded in 2016 to provide global-to-local, real-time monitoring and analysis of atmospherics by capturing gas and particulate data throughout the entire vertical air column. Scepter's patented approach integrates existing ground-based sensor networks with its own space-based, state-of-the-art hyperspectral sensors to provide a unique 3D view of the atmosphere, a perspective not provided by anyone today.
Scepter is able to distill complex atmospheric ecosystems into robust big data sets that, when fused with other relevant data such as health, wind, weather and consumer records, can provide comprehensive situational awareness for commercial and government customers.
“We’re starting our mission with a focus on both aerosol and methane detection, launching with an information service offering to the oil & gas industry,” states Philip Father, Scepter founder and CEO. “When governments, NGOs and companies can see and quantify what’s moving around in the atmosphere in real time, they will know how they contribute to air quality, self-assess and act in accordance with ESG principles.”
“Scepter’s information helps commercial operators manage their business better, going beyond detection and quantification. This leads to opportunities across multiple industry verticals and working with government agencies in areas like wildfire management where Scepter can deliver a holistic solution,” said Peter Luchetti, Managing Partner of Table Rock Infrastructure Partners.
“We’re excited to participate in Scepter’s big data platform. Using best-in-class sensors, AI and data analytics, companies will be able to transform their business and provide customers with unique insights to lower costs and increase revenues as well as leverage actionable data to drive environmental initiatives,” said John Tilney, Partner at L37 Ventures. “The Scepter platform will have immediate scale and impact in partnership with a Fortune 10 energy firm.”
About Scepter, Inc.: Scepter is an AI and atmospheric data analytics company that has developed and patented a groundbreaking approach to monitoring and impacting air quality in real-time using an array of terrestrial, airborne and Low-Earth-Orbit satellite-based sensors to measure the vertical air column. Scepter provides global-to-local, real-time air pollution data, integrated with data from other sources and analyzed to provide actionable information for businesses, consumers, governments and NGOs. For more information, please visit www.scepterair.com.
About L37 Ventures: L37 is a new generation, hybrid venture capital and private equity company. We invest in visionary founders and companies that are transforming industries and solving ubiquitous problems. We are a group of seasoned entrepreneurs, operators and investors who work alongside founding teams, leveraging frameworks for scale and our network of trusted relationships with customers, capital, and talent to design new categories and engineer market-first, globally minded companies. For more information, visit www.L37.vc.
About Table Rock Infrastructure Partners: Table Rock is a private equity firm focused on water, wastewater, renewable energy and communications applications. Our “Progressive Partnership” process evaluates all options for municipal project design, construction, operations and maintenance, financing and delivery, and helps leadership determine which implementation approach produces the highest value for ratepayers. For more information, visit www.tablerockpartners.com.
Steve Smith
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Combination creates the global leader in software for the energy industry.
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), a Thoma Bravo portfolio company and the global software leader dedicated to the energy industry, today announced the closing of the previously reported acquisition of TietoEVRY’s Oil and Gas software business. This transaction includes Energy Components solutions for hydrocarbon accounting and management and DaWinci solutions for personnel and materials logistics.
Earlier this year, Quorum merged with Aucerna, a globally trusted provider of integrated planning, execution, and reserves software for the energy industry. Combining Quorum, Aucerna, and TietoEVRY’s Oil and Gas software business creates the global leader in software for connecting people, information, and energy.
“Energy Components and DaWinci solutions are international standards in the energy industry, and the talented employees who support them are valuable additions to our team,” said Gene Austin, CEO of Quorum Software. “Together, we offer a complete set of solutions in lockstep with our customers. Our vision for the future, coming off of both of these transactions, is to provide the most robust set of cloud-first applications for the global energy ecosystem.”
The newly combined company will operate as Quorum Software. The transactions, both complete as of today, will empower Quorum to connect operations to the boardroom and deliver on customer priorities to automate critical workflows, integrate data across the organization, and drive intelligent business insights.
Today, Quorum serves more than 1,800 energy customers of all sizes, from startups to supermajors, across 55 countries. Headquartered in Houston, Texas, Quorum Software will have offices throughout North America, Latin America, Europe, the Middle East and the Asia Pacific. Quorum will continue to have a significant presence in Calgary, Alberta, the headquarters of Aucerna, and in Norway, the business headquarters of Energy Components and DaWinci.
About Quorum Software
Quorum Software connects people and information across the energy value chain. Twenty years ago, we built the first software for gas plant accountants. Pipeline operators came next, followed by land administrators, pumpers, and planners. Since 1999, Quorum has helped thousands of energy workers with business workflows that optimize profitability and growth. Our vision for the future connects the global energy ecosystem through cloud-first software, data standards, and integration. The trusted source of decision-ready data for 1,800+ companies, Quorum Software makes the essential connections that let us work better together in the connected energy workplace. For more information, visit quorumsoftware.com.
Media Contact:
Jenna Billings
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978-618-8424
#1 cleantech awards program encourages the general public to vote through June 30
WASHINGTON--(BUSINESS WIRE)--#AwardSeason--The Cleanie Awards®, the leading awards program dedicated to celebrating people and brands driving the clean energy economy, announced a preliminary list of finalists in the Best Media Outlet “People’s Choice” award category. The award recognizes the leading sources for cleantech and industry news.
The general public can choose from the below list of media outlets through June 30. The finalist with the most votes wins. To vote, follow this link. There is no limit to the number of times a user can vote.
“Now in our fourth year, we are thrilled to introduce the Best Media Outlet People’s Choice award. Trusted news sources that report on the industry, regulations, new technologies and more play a vital role in helping our industry partners stay informed to make successful business decisions,” said Randee Gilmore, Executive Director, The Cleanie Awards. “Our awards shine a spotlight on the most influential names in clean energy, including these media outlets, that are not only making a difference today, but also helping us get closer to a decarbonized future.”
Nominations for all award categories, including Best Media Outlet, will remain open through June 20. Additional nominations in the Best Media Outlet category will automatically update the public voting panel.
Visit www.thecleanieawards.com to apply to this year’s program and for additional information, such as fees, deadlines, and sponsorship opportunities.
About The Cleanie Awards®
The Cleanie Awards is the only cleantech and renewables industry awards program focused on honoring innovators and disruptors who are creating market-moving solutions. The program’s mission is to influence public opinion about technologies working toward a clean energy future. The team includes a highly prominent advisory board and judging panel of experienced business leaders, entrepreneurs, and communicators who are committed to advancing clean technology.
Visit the website at www.thecleanieawards.com and follow The Cleanie Awards on Twitter or Facebook at @CleanieAwards and LinkedIn.
Media
Margaret L. Brown
MLB Communications Strategies & Public Relations
703-898-9443
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Sponsorship
Randee Gilmore
Executive Director
The Cleanie Awards®
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Experienced renewable energy executive to oversee operations and execute business strategy around an expanding portfolio
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy ("Leeward”) today announced that Willem van der Ven has been named Chief Operating Officer. Mr. Van der Ven reports to Jason Allen, Leeward’s Chief Executive Officer, and assumes leadership of field and energy services, asset management, EHS, fleet procurement, operational engineering, control center and data analytics.
His extensive experience in developing and implementing corporate growth strategies within the renewable energy sector will well support the Leeward Renewable Energy portfolio. Mr. Van der Ven has played integral roles in establishing new departments, teams and markets for corporations that place high value in company cultures of safety, reliability and performance.
Mr. Van der Ven has worked in the energy business for more than 25 years, with 18 years of experience in renewables. His previous experience includes overseeing the management, project execution and P&L of renewable energy facilities, providing leadership in business strategies and evaluating and executing acquisitions and divestments. He most recently served as VP, Power Operations for Enbridge and also held senior leadership roles at Atlantic Power Corporation, KR Wind Inc. and Suzlon Energy Corp.
“We are excited to welcome Willem to Leeward and know that we will benefit from his impressive experience and operational expertise," said Mr. Allen. "Willem joins Leeward at a critical time as we continue to grow our solar, wind and energy storage portfolio across the U.S. He will oversee the safe and efficient operation of our expanding portfolio and will play an integral role in executing the Leeward growth strategy while ensuring high performance across the operating platform."
Mr. Van der Ven holds an international executive master’s in business administration from the University of Twente, a master’s degree in electrical energy systems from the Technical University of Eindhoven, a bachelor’s degree in control systems from the Technical Academy in ‘s-Hertogenbosch and an associate degree in electronics from the Technical Academy in Nijmegen.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a leading renewable energy company that owns and operates a portfolio of 22 renewable energy facilities across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S., with 17 gigawatts under development spanning over 100 projects. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$105 billion in net assets (as at December 31, 2020). For more information, visit www.leewardenergy.com.
Kelly Kimberly
Sard Verbinnen & Co.
713.822.7538
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--June 4, 2021-- ITT Inc. (NYSE: ITT) announced today that its Board of Directors has declared a regular quarterly dividend payment of $0.22 per share on the Company’s outstanding stock. The dividend is payable on July 6, 2021 to shareowners of record as of the close of business on June 21, 2021.
About ITT
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and oil and gas markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit www.itt.com.
Mark Macaluso
+1 914-641-2064
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Showcasing Vision and Progress Towards Safe, Ubiquitous Autonomy
--(BUSINESS WIRE)--Join Luminar Technologies, Inc. (Nasdaq: LAZR) CEO and Founder, Austin Russell and guests, for Luminar Studio Day. The live webcast from NYC will feature a first look at the vision for Iris, Luminar’s high-performance autonomous sensing solution as foundation for autonomy across passenger cars, trucking, and robo-taxis. The company is kicking off a coast-to-coast roadshow to demonstrate how Iris is the key safety-enabling technology that makes autonomy possible. Attendees will also have the opportunity to go for drives in a fully integrated Iris vehicle.
WHEN: June 15 at 10 am ET/ 7 am PT
REGISTER FOR THE WEBCAST: www.luminartech.com/studioday
ABOUT LUMINAR
Luminar is an autonomous vehicle sensor and software company with the vision to make autonomy safe and ubiquitous by delivering the only lidar and associated software that meets the industry’s stringent performance, safety, and economic requirements. Luminar has rapidly gained over 50 industry partners, including 8 of the top 10 global automakers. Last year, Luminar signed the industry’s first production deal for autonomous consumer vehicles with Volvo Cars, while also recently striking deals with Daimler Truck AG and Intel’s Mobileye. Luminar has also received minority investments from the world’s largest commercial vehicle manufacturer, Daimler Truck AG, and Volvo Cars, a global leader in automotive safety, to accelerate the introduction of autonomous trucks and cars at highway speed. Founded in 2012, Luminar is a nearly 400-person team with offices in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. For more information please visit www.luminartech.com.
Media Inquiries:
Milin Mehta
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Not for distribution to United States newswire services or for release, publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States.
VANCOUVER, British Columbia--(BUSINESS WIRE)--$GRN #GRN--Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN / FSE: 52G) today announced that it has filed a preliminary short form base shelf prospectus (the “Shelf Prospectus”), which is anticipated to provide the flexibility to make offerings of securities during the effective period of the Shelf Prospectus until July 2023. The final short form base shelf prospectus is expected to be filed in June 2021 and will replace the existing base shelf prospectus, which was filed in July 2019.
The Shelf Prospectus has been filed with the securities commissions in the provinces of British Columbia, Alberta, Manitoba and Ontario. When made final or effective, it will enable offerings of common shares, warrants, subscription receipts, or units of the Company up to an aggregate offering price of $500,000,000 during the 25-month period that the Shelf Prospectus is effective. The Company filed the Shelf Prospectus with the objective of maintaining financial strength and providing maximum flexibility going forward as it executes its business plan and strategic initiatives.
Greenlane does not have any immediate plans to offer securities under the Shelf Prospectus. The specific terms of any future offering will be established in a prospectus supplement to the Shelf Prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities.
Greenlane also announces that at 4:59 p.m. Eastern Time on June 3, 2021 its common share purchase warrants exercisable at 26 cents per share expired and were delisted the same day with approximately 30.1 million $0.26 warrants being exercised prior to expiry. The warrant exercises generated approximately $7.8 million in gross proceeds for the Company since originally being issued on June 3, 2019. As at June 3, 2021, Greenlane’s total shares outstanding is approximately 150.0 million shares.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon and carbon-negative renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 125 biogas upgrading systems sold into 19 countries worldwide, including the world’s largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers, gas utilities or project developers turn a low-value product into a high-value low-carbon renewable resource. For further information, please visit www.greenlanerenewables.com.
FORWARD LOOKING INFORMATION – This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. The forward-looking information contained in this press release includes statements regarding the approval of the Shelf Prospectus and the ability of the Company to complete financings pursuant to the Shelf Prospectus. A variety of factors, including known and unknown risks, many of which are beyond the Company’s control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, risks identified in the Company's annual information form, annual MD&A and the Shelf Prospectus, each of which has been filed under the Company's SEDAR profile at www.sedar.com. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Incite Capital Markets
Eric Negraeff / Darren Seed
Ph: 604.493.2004
Brad Douville, President & CEO, Greenlane Renewables
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Company’s clean energy leadership on display in new report
MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy announced today that the company delivered for customers, achieved key carbon reduction goals, supported its communities and kept customer bills low despite challenges brought on by the COVID-19 pandemic, the economic downturn and civil unrest in the states it serves.
The company released its 16th annual Sustainability Report, formerly known as the Corporate Responsibility Report. The name change reflects the company’s commitment to delivering reliable, affordable natural gas and electricity, while protecting the environment and helping build the clean energy future.
“If we learned anything in the last year, it is how resilient we are as a company and an industry,” said Ben Fowke, chairman and CEO of Xcel Energy. “We’ve all faced great challenges, but our dedicated employees continued to deliver exceptional service to our customers, while taking action on key priorities that will benefit our communities, customers and the environment.”
Xcel Energy is the first major U.S. power provider to announce a vision of delivering 100% carbon-free electricity to its customers by 2050, with an interim goal of cutting carbon emissions 80% by 2030. And it’s more than halfway there, having reduced carbon emissions 51% from the electricity it provides to customers. The company has also proposed plans to exit coal responsibly by 2040.
Clean energy leadership
In addition to achieving a 51% carbon reduction from the electricity provided to customers since 2005, Xcel Energy completed approximately 1,500 megawatts of company-owned wind projects in 2020 that are expected to save customers hundreds of millions of dollars in fuel costs, while adding more carbon-free energy to its system.
In addition, the company reported progress on the following goals:
Supporting customers, local communities and racial equity
Keeping customer bills low is a key priority for Xcel Energy as it continues leading the clean energy transition. Since 2013, the company’s residential energy bill increases have remained below the rate of inflation, and both its average residential electric and natural gas bills are well below the national average.
Xcel Energy has renewed its commitment to social and racial equity. The company added a new corporate scorecard metric for 2021 that ties executive compensation to fostering an inclusive workplace, promoting equity and building a workforce that reflects the communities it serves.
In 2020, the company spent $643 million on goods and services through diverse suppliers, exceeding its annual target of $600 million and donated $760,000 to nonprofits that support racial equity.
Xcel Energy and its employees also stepped up in a big way to support local communities, donating $2 million to address food insecurity and COVID-19 relief. Employees volunteered 59,000 hours and together with the company donated $15.3 million through the Xcel Energy Foundation’s giving programs, the United Way campaign and employee contributions.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
About Xcel Energy Foundation
The Xcel Foundation is a 501(c)(3) organization that awards charitable grants to nonprofit organizations and sponsors the volunteer programs of Xcel Energy and its subsidiaries. The majority of Xcel Energy Foundation funding comes from Xcel Energy shareholder dollars. For more information, visit https://www.xcelenergy.com/community/focus_area_grants.
Forward-Looking Statements
This release contains forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements include projections related to emission reductions and statements about changes in our generation portfolio, such as the end of coal use, renewable energy use targets and renewable energy expansion, are identified in this document by the words “aim”, “aspire”, “assuming”, “believe”, “could”, “expect”, “may”, and similar expressions. Actual results may vary materially. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including the availability of credit, actions of rating agencies and their impact on capital expenditures; business conditions in the energy industry: competitive factors; unusual weather; effects of geopolitical events; including war and acts of terrorism; changes in federal or state legislation; regulation; actions of regulatory bodies; and other risk factors listed from time to time by Xcel Energy in its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2020 (including the items described under Factors Affecting Results of Operations) and the other risk factors listed from time to time by Xcel Energy Inc. in reports filed with the SEC.
Xcel Energy Media Relations
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Minneapolis, MN 55401
612-215-5300
www.xcelenergy.com
All of Samsung’s global semiconductor manufacturing facilities certified for reducing carbon emissions, water use and waste discharge
SEOUL, South Korea--(BUSINESS WIRE)--#carbontrust--Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, today announced that it received the industry’s first Triple Standard for carbon, water and waste by Carbon Trust.
Samsung was awarded this certification by reducing the amount of carbon emissions, water use, and waste discharge over the past three years at five operations (Giheung, Hwaseong, Pyeongtaek, Onyang and Cheonan) in Korea and four global manufacturing sites in U.S. and China (Austin, Suzhou, Tianjin and Xi’an). This is a huge feat, considering that it is extremely challenging for semiconductor manufacturing companies to meet all three qualifications at once.
“For decades, Samsung has been striving to incorporate environmental sustainability into every aspect of the semiconductor manufacturing process,” said Seong-dai Jang, senior vice president and head of DS Corporate Sustainability Management Office at Samsung Electronics. “We’ll continue to pursue more environmentally sustainable policies across the entire production and supply chain.”
Samsung has been making various efforts in carbon reduction, water resource conservation and recycling, and has been managing these as important sustainability goals.
Samsung’s efforts to reduce its environmental footprint
Samsung Electronics strives to incorporate environmental sustainability into everything it does. Samsung’s products are thoughtfully designed to minimize the impact on the environment during their entire lifecycle – from planning and manufacturing to consumption and recycling.
# # #
About Samsung Electronics Co., Ltd.
Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions. For the latest news, please visit the Samsung Newsroom at news.samsung.com.
1 The amounts stated are converted measurements based on production levels
2 A 30-year-old pine tree can absorb about 6.6 kilograms of carbon dioxide (CO2) per year (Korea Institute of Forest Science)
3 The amounts stated are converted measurements based on production levels
4 Korea Ministry of Environment (2019)
5 Wastewater sludge is a by-product generated in the treatment process of industrial wastewater or sewage.
6 The amounts stated are converted measurements based on production levels
Ujeong Jahnke
Samsung Semiconductor Europe GmbH
Tel. +49(0)89-45578-1000
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DENVER--(BUSINESS WIRE)--#OpenSolicitation--With key permits secured, labor partnerships in place and nearly all rights-of-way acquired, the TransWest Express Transmission Project is commencing its initial capacity allocation process.
Through an Open Solicitation kicking off today, independent developer TransWest Express LLC is soliciting interest in the TWE Project from potential customers for two primary long-term firm transmission service products: up to 1,500 MW Wyoming to Utah point-to-point service, and up to 1,500 MW Wyoming to Nevada point-to-point service. Each of these products will provide transmission service from Wyoming to market off-take points in Utah and Nevada.
The Open Solicitation is being managed by an independent solicitation manager, PA Consulting. The TWE Project Open Solicitation website at www.transwestexpress-os.com includes extensive project and process details. A Statement of Interest form also is available for potential transmission customers to submit to PA Consulting within 60 days. The allocation process was approved by the Federal Energy Regulatory Commission in a Feb. 26 order.
The TWE Project is a high-voltage interregional transmission system designed to extend from Carbon County, Wyoming, to Clark County, Nevada, with an interconnection into the Intermountain Power system in Millard County, Utah. The unique use of both HVDC and HVAC technology, along with the midpoint terminal, will increase the system flexibility and physical transmission capacity of the Western U.S. power grid.
The TWE Project also will assure that various Western electricity markets can access geographically diverse, complementary, high-capacity wind energy supplies available from Wyoming. This will help states and other entities to efficiently and cost-effectively meet their renewable portfolio standards and emissions reductions targets.
Since TransWest started its work on the TWE Project in 2008, the company has:
“The TWE Project is essentially shovel-ready critical infrastructure that will materially advance national energy and economic interests,” said Bill Miller, president and CEO of TransWest. “This 500 kV electricity transmission investment will help modernize the Western power grid and make it more resilient, reliable and ready to facilitate the renewable energy that is needed to achieve federal, state and municipal goals.”
TransWest plans to build the HVDC system to provide 3,000 MW of transmission capacity, and the terminals in Wyoming and Utah will be constructed in two stages of 1,500 MW each to align with market demand. The first construction stage will take about three years, with commencement to be determined after the BLM Notice to Proceed is issued. The HVAC system constructed from Utah to Nevada is planned to provide 1,500 MW of transmission capacity.
When TWE Project construction begins, it will create hundreds of new direct jobs – such as heavy equipment operators, line workers, welders, electricians, environmental compliance monitors and more – in all four states hosting the TWE Project, along with supporting thousands of indirect and induced jobs across the value chain. Local sales/use tax payments made over the course of construction are estimated at over $113 million to be paid across Wyoming, Colorado, Utah and Nevada.
The multiple benefits of new high-voltage transmission development like the TWE Project are underscored in a 2020 study produced for Congress by FERC staff, called “Report on Barriers and Opportunities for High Voltage Transmission.”
For example, according to the FERC report, “High voltage transmission can improve the reliability and resilience of the transmission system by allowing utilities to share generating resources, enhance the stability of the existing transmission system, aid with restoration and recovery after an event, and improve frequency response and ancillary services throughout the existing system. High voltage transmission also provides greater access to location-constrained resources in support of renewable resource goals. It also offers opportunities to meet federal, state and local policy goals.”
The FERC report pointed to the TWE Project as an example of a specific State Policy Opportunity project that can help states achieve their renewable portfolio standards and goals.
As noted in the report, the TWE Project “would eventually provide 3,000 MW of transmission capacity to deliver wind energy generated in southern Wyoming to consumers in Arizona, Nevada, and southern California… If constructed, the TransWest Express could help deliver the renewable energy needed for Arizona, Nevada and California to achieve their RPSs of 15 percent by 2025, 25 percent by 2025, and 60 percent by 2030, respectively.”
Two-thirds of the TWE Project route lies on federal land primarily managed by the BLM. States and counties along the route participated in the federal environmental analysis process as cooperating agencies. They provided critical local knowledge to inform the preparation of an Environmental Impact Statement from 2009-2015 and the selection of the final route, as documented in the TWE Project Record of Decision published by BLM in December 2016 and the Record of Decision published by WAPA in January 2017.
For more information on TransWest and the TWE Project, visit www.transwestexpress.net.
For more information on the Open Solicitation, visit www.transwestexpress-os.com.
Kara Choquette, This email address is being protected from spambots. You need JavaScript enabled to view it., 303-299-1395
DUBLIN--(BUSINESS WIRE)--The "Autonomous Ships Global Market Report 2021: COVID-19 Growth and Change to 2030" report has been added to ResearchAndMarkets.com's offering.
Major players in the autonomous ships market are General Electric, DNV GL, Rolls-Royce Holding PLC, Kongsberg Gruppen AS, NYK Line, Mitsui E&S Holdings Co Ltd, Wartsila Corporation, DSME Co., Ltd., Vigor Industrial LLC. and Praxis Automation Technology B.V.
The global autonomous ships market is expected to grow from $5.68 billion in 2020 to $6.46 billion in 2021 at a compound annual growth rate (CAGR) of 13.7%.
The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $9.24 billion in 2025 at a CAGR of 9%.
Increasing marine accidents caused by human errors lead to high financial losses which are predicted to act as a major driver for the growth of the autonomous ships market. Unmanned ships or autonomous technology apprehend accidents attributing to human errors and contributes to the higher potential of reducing onboard accidents.
The increasing threat of cybersecurity and privacy is expected to limit the growth of the autonomous ships market during the forecast period. The advancements in technology and adoption of artificial intelligence (AI), mobility systems, and the internet of things (IoT) are creating higher chances of cybersecurity and data threats which is a major challenge for the autonomous ship industry.
According to Association for Computing Machinery (ACM)'s journal on cybersecurity of the autonomous ship, cybersecurity is a serious issue for autonomous ships, regardless of the form and level of autonomy of the ship, owing to their increased dependence on ICT for controlling the ship, accessibility of systems to the internet, and increased connectivity of ship's control system to onshore monitoring systems. Thus, the rising threat for cybersecurity and privacy is predicted to act as a major factor restraining the autonomous ship's market over the forthcoming years.
The autonomous ships market covered in this report is segmented by autonomy into fully autonomous; remote operations; partial autonomous and by end-user into commercial; defense.
Major companies undertaking various strategic initiatives such as the development of fully autonomous ships, which is likely to be a major trend driving the growth of the autonomous ships industry. For instance, according to Offshore Energy news published in December 2018, Rolls Royce, a technology company, and Finferries, a state-owned ferry operator demonstrated the world's s first fully autonomous ferry in the archipelago south of the city of Turku, Finland.
It used a combination of Rolls Royce ship intelligence technology in order to navigate autonomously during its journey between Paraninen and Nauvo. the development of fully autonomous is a major trend that is anticipated to provide growth opportunities to the market.
In May 2018, Wartsila Corporation, the technology group announced the acquisition of Transas, a UK-based firm for an amount of $ 257.8 million. This acquisition is a part of Wartsila Corporation's attempt to expand the company's smart marine ecosystem vision.
The smart marine ecosystem is a vision where smart vessels connect with smart ports in order to improve the operational efficiency and use of resources to reduce risk and impact on the environment by enhancing security and safety. Transas was founded in 1990 and is a provider of ship & fleet operation solutions which includes access to information for real-time information, digital data and electronic chart services, and bridge infrastructure.
Key Topics Covered:
1. Executive Summary
2. Autonomous Ships Market Characteristics
3. Autonomous Ships Market Trends and Strategies
4. Impact of COVID-19 on Autonomous Ships
5. Autonomous Ships Market Size and Growth
5.1. Global Autonomous Ships Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Autonomous Ships Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Autonomous Ships Market Segmentation
6.1. Global Autonomous Ships Market, Segmentation By Autonomy, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Autonomous Ships Market, Segmentation By End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Autonomous Ships Market, Segmentation By Propulsion Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.4. Global Autonomous Ships Market, Segmentation By Fuel Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Autonomous Ships Market Regional and Country Analysis
7.1. Global Autonomous Ships Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Autonomous Ships Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/feev7u
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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