NEW YORK & IRVINE, Calif.--(BUSINESS WIRE)--Silver Spike Acquisition Corp (Nasdaq: SSPK), a publicly traded special purpose acquisition company (“Silver Spike” or “the Company”), reminds its holders of common stock to vote in favor of the approval of the Company’s proposed business combination with WM Holding Company, LLC (“WMH”), a leading technology and software infrastructure provider to the cannabis industry, and the related proposals to be voted upon at Silver Spike’s extraordinary general meeting of shareholders (the “Special Meeting”).
The Special Meeting is scheduled for Thursday, June 10, 2021 at 10:00 a.m. ET to approve, among other things, the business combination with WMH. The Special Meeting will be held at the offices of Silver Spike, located at 660 Madison Ave., Suite 1600, New York, New York 10065.
Shareholders of record as of May 19, 2021 are entitled to receive notice of and to vote at the Special Meeting. Shareholders are encouraged to vote before 11:59 p.m. ET on June 9, 2021.
If the proposals at the Special Meeting are approved, the parties anticipate that the business combination will close shortly thereafter, subject to the satisfaction or waiver (as applicable) of all other closing conditions. Upon consummation of the business combination, Silver Spike intends to change its name to “WM Technology, Inc.” and apply for the continued listing on the Nasdaq of its Class A common stock and warrants under the symbols “MAPS” and “MAPSW,” respectively.
Silver Spike shareholders who need assistance in completing the proxy card, need additional copies of the proxy materials, or have questions regarding the Special Meeting may contact Silver Spike’s proxy solicitor, D.F. King & Co., Inc., at (212) 269-5550 (banks and brokers call collect at (877) 478-5045) or email at This email address is being protected from spambots. You need JavaScript enabled to view it..
About WM Holding Company, LLC
Founded in 2008, WM Holding Company, LLC (“WMH” or “WM Holding”) is a leading technology and software infrastructure provider to the cannabis industry. WM Holding’s mission is to power a transparent and inclusive global cannabis economy. Now in its second decade, WMH has been a driving force behind much of the legislative change we’ve seen in the past 10 years.
WM Holding comprises B2C platform Weedmaps, and B2B software WM Business. The cloud-based SaaS solutions from WM Business provide an end-to-end operating system for cannabis retailers. WM Business’ tools support compliance with the complex, disparate, and constantly evolving regulations applicable to the cannabis industry. Through its website and mobile apps, WM Holding provides consumers with the latest information about cannabis retailers, brands, and products, facilitating product discovery and driving engagement with our retail and brand customers.
WMH holds a strong belief in the power of cannabis and the importance of enabling safe, legal access to consumers worldwide. Since inception, WMH has worked tirelessly, not only to become the most comprehensive platform for consumers, but to build the software solutions that power businesses compliantly in the space, to advocate for legalization, social equity, and licensing in many jurisdictions, and to facilitate further learning through partnering with subject matter experts on providing detailed, accurate information about the plant.
Headquartered in Irvine, California, WMH employs approximately 430 professionals around the world. WMH supports remote work for all eligible employees and has hubs in Denver, Colorado; Los Angeles, California; and Kitchener, Ontario. Visit us at www.weedmaps.com.
About Silver Spike Acquisition Corp.
Silver Spike Acquisition Corp. (SSAC), an affiliate of Silver Spike Capital, is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The management team and board of directors are composed of veteran cannabis and finance industry executives and founders, including Scott Gordon, founder, and CEO of the Company, who began investing in the cannabis industry in 2014 and in 2016 co-founded and became Chairman of Egg Rock Holdings, the parent company of the Papa & Barkley family of cannabis products with related subsidiary assets in manufacturing, processing and logistics; and Dr. Orrin Devinsky, director of the Company, who is the director of the NYU Langone Comprehensive Epilepsy Center and is a Professor of Neurology, Neuroscience, Psychiatry, and Neuroscience at the NYU School of Medicine and who, since 2016 has served as the Chair of the Medical Advisory Board at Tilray, a pharmaceutical and cannabis company.
About Silver Spike Capital
Silver Spike Capital is an investment manager focused on the cannabis and alternative health & wellness industries. The firm offers diversified private credit and equity-related investment opportunities in the emerging and rapidly accelerating state and federally compliant cannabis, hemp, and other cannabinoid sectors. Silver Spike also manages a venture fund focused on the nascent psychedelics industry.
With over three decades of investment experience, Silver Spike’s investment professionals include early cannabis investors, entrepreneurs, operators, and researchers as well as emerging market finance veterans experienced in complex legal and regulatory characteristics that mirror the current cannabis landscape today.
Silver Spike Capital is headquartered in New York with a satellite office in Toronto. To learn more, please visit us at www.silverspikecap.com.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” 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 include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, expectations and timing related to commercial product launches, potential benefits of the transaction and the potential success of WMH's go-to-market strategy, and expectations related to the terms and timing of the transaction. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of WMH’s and Silver Spike’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of WMH and Silver Spike. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties 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 shareholders of Silver Spike or WMH is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks relating to the uncertainty of the projected financial information with respect to WMH; future global, regional or local economic and market conditions affecting the cannabis industry; the development, effects and enforcement of laws and regulations, including with respect to the cannabis industry; WMH’s ability to successfully capitalize on new and existing cannabis markets, including its ability to successfully monetize its solutions in those markets; WMH’s ability to manage future growth; WMH’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform and WMH’s ability to maintain and grow its two sided digital network, including its ability to acquire and retain paying customers; the effects of competition on WMH’s future business; the amount of redemption requests made by Silver Spike’s public shareholders; the ability of Silver Spike or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; and those factors discussed in Silver Spike’s final prospectus dated August 7, 2019, Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 and the Registration Statement (defined below), in each case, under the heading “Risk Factors,” and other documents of Silver Spike filed, or to be filed, with the Securities and Exchange Commission (“SEC”). If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Silver Spike nor WMH presently know or that Silver Spike and WMH currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Silver Spike’s and WMH’s expectations, plans or forecasts of future events and views as of the date of this press release. Silver Spike and WMH anticipate that subsequent events and developments will cause Silver Spike’s and WMH’s assessments to change. However, while Silver Spike and WMH may elect to update these forward-looking statements at some point in the future, Silver Spike and WMH specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Silver Spike’s and WMH’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Additional Information About the Proposed Business Combination and Where To Find It
The proposed business combination will be submitted to shareholders of Silver Spike for their consideration. Silver Spike has filed a registration statement on Form S-4 (the “Registration Statement”) with the SEC which includes the definitive proxy statement to be distributed to Silver Spike’s shareholders in connection with Silver Spike’s solicitation for proxies for the vote by Silver Spike’s shareholders in connection with the proposed business combination and other matters as described in the Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to WMH’s shareholders in connection with the completion of the proposed business combination. The Registration Statement was declared effective by the SEC on May 25, 2021. Silver Spike will mail a definitive proxy statement and other relevant documents to its shareholders as of the record date established for voting on the proposed business combination. Silver Spike's shareholders and other interested persons are advised to read the proxy statement / prospectus, in connection with Silver Spike's solicitation of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, because these documents will contain important information about Silver Spike, WMH and the proposed business combination. Shareholders may also obtain a copy of the definitive proxy statement as well as other documents filed with the SEC regarding the proposed business combination and other documents filed with the SEC by Silver Spike, without charge, at the SEC's website located at www.sec.gov or by directing a request to 660 Madison Ave Suite 1600, New York, NY 10065 or This email address is being protected from spambots. You need JavaScript enabled to view it..
Participants in the Solicitation
Silver Spike, WMH and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from Silver Spike’s shareholders in connection with the proposed business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of Silver Spike’s shareholders in connection with the proposed business combination is set forth in is the Registration Statement filed with the SEC. You can find more information about Silver Spike’s directors and executive officers in the Registration Statement and the proxy statement / prospectus. Shareholders, potential investors and other interested persons should read the proxy statement / prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This press release not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, 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 any such jurisdiction.
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PASO ROBLES, Calif.--(BUSINESS WIRE)--Pearce Renewables, a leader in engineering, operations, and maintenance for renewable energy infrastructure acquired Mortenson Energy Services, LLC (“MES”) to create the leading independent service provider to the renewable energy industry. Within the last year, Pearce Renewables has assembled best-in-class operations and maintenance companies and leaders serving utility-scale wind, solar, electric vehicle (EV) charging, and battery energy storage system infrastructure.
Mortenson Energy Services provides renewable energy repair and maintenance services and is well known in the wind industry for highly experienced teams in corrective maintenance, blade repair, and major and mid-level component exchange, as well as troubleshooting, commissioning, and other technical operations. Pearce Renewables, through its World Wind & Solar and MaxGen Energy Services brands, is well known for its safe, responsive, and highly trained technicians complemented by engineering and parts capabilities. “The combination with Mortenson Energy Services creates a full suite of services to meet customers’ growing maintenance and repair needs while attracting and retaining the highest quality talent in the wind industry as the leader in the market,” said Zack Dorfman, Pearce Renewables’ Senior Vice President of Wind. “The team at Mortenson Energy Services shares our steadfast commitment to safety, integrity, customer responsiveness, and quality, making them an ideal addition to our organization.”
The renewable energy industry is growing fast, and Pearce Renewables is growing faster. Pearce entered renewable energy a year ago with acquisitions of World Wind & Solar and MaxGen Energy Services. Soon after, the services team from Suzlon North America joined to bring unique capabilities in engineering, spare parts, and technical wind services. Zack Dorfman, former leader of GE’s North American Wind Services team, joined to lead the Pearce Renewables Wind business. Kyle Williams, a former leader of Tesla’s energy services team, joined to lead the Pearce Renewables EV business. Pearce Renewables acquired A & A Wind Pros to add wind turbine cleaning and yaw puck services. Today, with the addition of Mortenson Energy Services, Pearce Renewables has over 750 technicians throughout the country and is adding weekly to meet growing demand.
“Mortenson Energy Services has been a successful and growing business since it was created in 2014 to supplement our core wind EPC operations,” said Tim Maag, Vice President and General Manager at Mortenson. “The combination with Pearce will provide tremendous opportunities for team members and ensure a continued strong future for this business and the quality services it provides to customers.”
About Pearce Renewables, a Division of Pearce Services
Pearce Services is a leading national provider of operations, maintenance, and engineering services for mission-critical infrastructure. Pearce offers innovative, tech-enabled services for telecom, renewable energy, electric vehicle (EV), and energy storage system infrastructure customers safely around-the-clock. With nationwide coverage, we can deploy our highly trained technicians quickly and efficiently to provide unmatched response times, quality, and consistent service for distributed mission-critical assets. Pearce’s engineering and support teams use sophisticated software, analytics, and detailed safety plans to support our technical experts in the field. Constant innovation and close collaboration with our customers are a hallmark of our service. To learn more about Pearce Services and Pearce Renewables, visit www.pearce-services.com or www.pearce-renewables.com.
About Mortenson Energy Services, a division of Mortenson
Mortenson Energy Services (“MES”) is a respected provider of operations, maintenance, and repair of assets in the wind and solar industries. Since inception in 2014, MES has developed from providing mechanical services into a diversified renewable power services provider underpinned by industry leading professionals and skillful technicians. MES is backed by the strength of Mortenson’s 26 years of renewables experience. Mortenson is a U.S.-based, top-20 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. For additional information, visit www.mortenson.com and www.mortenson.com/energy-services.
For Pearce Services (Pearce Renewables):
Dana Gorman / Matthew Butler
Abernathy MacGregor
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212-371-5999 / 212-371-5999
For Mortenson Energy Services
Cameron Snyder
Mortenson
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Leap is working with leading distributed energy companies Resideo, Stem and Sunnova to actively support the grid
SAN FRANCISCO--(BUSINESS WIRE)--Leap, provider of an energy marketplace that enables Virtual Power Plants (VPPs), today announced the expansion of contracts with partners in California to provide flexible electricity capacity ahead of peak summertime demand. Leap now has agreements with 14 major electricity providers across the state, including a large group of community choice aggregators (CCAs), investor-owned utilities (IOUs), and independent power producers (IPPs). Leap has 288 megawatts (MW) and over 18,000 meters under contract from more than 30 leading technology partners.
The newly contracted counterparties include most CCAs in the state, including East Bay Community Energy (EBCE), as well as Independent Power Producers (IPPs), enabling Leap to work with its partners across PG&E, SCE and SDG&E territories with multi-year agreements.
“Over the past few summers, California has seen more and more reliability issues from extreme weather events,” said Thomas Folker, Leap's co-founder and CEO. “After playing an active role in providing flexible capacity throughout last summer, we’re growing our portfolio ahead of tight system conditions in 2021 and 2022. With our new class of distributed assets and leading distributed energy partners, we look forward to using our flexible capacity to improve grid resiliency and help firm up intermittent renewables.”
Leap’s marketplace allows technology partners to use their distributed assets to respond to market pricing signals, flexing demand during both extreme grid events and on a day-to-day basis. This enables active market participation vis-a-vis high-emission and high-cost gas peaker plants. Leap’s marketplace creates VPPs made up of diverse load types, including residential and commercial batteries, electric vehicle charging, smart thermostats, agricultural and municipal water pumping, cold storage, and commercial HVAC systems. Leap’s partners are bringing new customers into the energy markets. These partners include leading residential energy provider Sunnova (NYSE: NOVA), who will leverage its growing fleet of residential energy storage customers to help support the grid for the first time this summer.
“Sunnova recognizes the challenging situation ahead for the California power grid, and our solar + storage customers can help mitigate grid reliability issues this summer while keeping the lights on during potential power outages,” said McCrea Dunton, Director of Energy Services at Sunnova. “We look forward to working with Leap to bring more distributed energy resources to California which can support a flexible and reliable power grid for all Californians.”
“Resiliency will continue to be a key focus for the California grid this summer,” said Nick Chaset, CEO of EBCE. “Contracting with Leap is an integral part of our strategy to enhance reliability throughout summer peak demand, and will allow us to source our resiliency using clean, flexible grid capacity.”
“As another summer approaches, California has the opportunity to fortify the grid through its abundance of distributed energy resources, including battery storage,” said Julie Steury, VP of Program & Customer Operations at Stem. "Stem’s Athena™ AI-driven energy storage solutions is in a prime position to deliver valuable flexibility to the electrical grid at times of stress while achieving our customers' bill savings and resiliency goals. Leap's marketplace makes it easy for Stem to add value to our customers and partners while helping to support and revolutionize the grid."
“This collaboration allows Resideo to extend the benefits of our energy-saving solutions and increase customer satisfaction to new geographies while maintaining home comfort and enhancing grid stability in California,” said Dave Oberholzer, General Manager of Energy Management at Resideo, a global provider of whole-home comfort and security solutions. “Working with Leap helps create additional value for our thermostat customers who may not otherwise join a utility program.”
Leap continues to create new relationships for bringing flexible capacity to electrical grids across the United States and will announce its expansion into new statewide energy markets later this year. The company’s multi-year contracts allow it to give forward certainty - even up to 10 years - to help technology partners earn additional revenue for providing flexibility services throughout California and beyond.
About Leap
Leap is the leading global platform for integrating flexible energy resources into global electricity markets. Leap supplies the grid with zero carbon, price competitive alternatives to fossil-fueled power plants by creating virtual power plants (VPPs) from its partners’ batteries, electric vehicles, smart thermostats, HVAC systems and industrial facilities. Leap performs all the heavy lifting to operate and stay compliant across wholesale energy markets, enabling partners to unlock hidden revenue, increase customer engagement, and achieve sustainability goals. Leap is a privately held company with offices in San Francisco and the Netherlands.
About East Bay Community Energy
EBCE is a not-for-profit public agency that operates a Community Choice Energy program for Alameda County and 13 incorporated cities therein, as well as the City of Tracy, serving more than 630,000 residential and commercial customers. EBCE initiated service in June 2018. As one of 19 community choice aggregation (CCA) programs operating in California, EBCE is part of the movement to expedite the climate action goals of their communities and those of California. EBCE is committed to providing clean power at competitive rates while reinvesting in our local communities. For more information about East Bay Community Energy, visit ebce.org/.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova’s goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted.
About Stem, Inc.
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena™, a world-class AI powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
About Resideo
Resideo is a leading global manufacturer and distributor of technology-driven products and solutions that provide comfort, security, energy efficiency and control to customers worldwide. Building on a 130-year heritage, Resideo has a presence in more than 150 million homes, with 15 million systems installed in homes each year. It continues to serve more than 110,000 professionals through leading distributors, including its ADI Global Distribution business, which exports to more than 100 countries from nearly 200 stocking locations around the world. For more information about Resideo, please visit www.resideo.com.
Resideo's Energy Management business offers peak demand reduction, energy efficiency, behavioral demand response, and automated time of use for customers across the U.S. Resideo's energy-saving devices helped its customers save 1.2 Billion Kilowatt hours in 2020. Already working with major utilities across the nation, the company recently expanded to include additional distributed energy resources.
Isaac Steinmetz
Antenna Group for Leap
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(646) 883-3655
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#cleanenergy--Ameresco, Inc. (NYSE:AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that members of its management team will attend the following investor conferences:
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
Media Contacts:
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BOSTON--(BUSINESS WIRE)--As one of New England’s prominent surveying, engineering, and subsurface utility mapping firms, DGT Associates celebrates its 25th anniversary and has completed more than 6,130 projects in the region and across the nation. DGT’s work and expertise have led to the development of landmark properties around New England, including Fenway Park, Faneuil Hall Marketplace, the Prudential Center, Harvard Business School, Longwood Medical Area, and the project where DGT’s founders, Bob Staples and Mike Clifford first met — the Big Dig.
Founded in 1996, DGT traces its history from the work and innovations of fourteen of the region’s preeminent survey and engineering firms dating back to 1877 with the acquisition of Aspinwall & Lincoln. Today, DGT serves municipalities, energy and telecommunication companies, education and medical campuses, and residential and commercial properties across New England and the nation. The Massachusetts-based firm has offices in Boston, Worcester, and Framingham and recently added an office in Preston, Connecticut, with the acquisition of Mattern & Stefon Land Surveyors.
“We’re proud to celebrate our 25 years and proud to call New England our home,” said Bob Staples, Co-founder & Principal. “Beyond DGT’s history, we’re honored to carry forward the rich history and knowledge of this region held within our 144 years of archival data. Our files, and the work they represent, serve as the bedrock for our communities, and we feel a great deal of responsibility to maintain and leverage this information for the betterment of our communities, today and tomorrow.”
Founded on principles of innovation, DGT Associates has been known through the years to embrace technology to advance the industry. As one of the nation’s earliest adopters of subsurface utility mapping in 1997 as a safer, more accurate alternative to traditional practices, DGT continues to expand its work in this domain. These advancements enable DGT to adhere to and deliver ASCE 38-02 standards, GPR and remote-sensing, CAD, and BIM-ready plans, in order to provide valuable information to asset owners, general contractors, engineers, architects, and other development stakeholders.
“As an integral part of the region’s evolution, we’re excited to continue broadening our offerings—especially as it relates to our subsurface utility mapping services. Communities are growing, new developments are being built, and the need to safely and accurately identify the underground landscape becomes increasingly important, and increasingly complex,” said Michael Clifford, Co-founder & Principal. “According to the 2019 DIRT Report, underground damage numbers are rising with 534,151 damages reported that year. Our work has helped to prevent countless damages and site accidents like these. As we embark on the next 25 years in business, we will continue to embrace the latest technologies, both above and below ground, for safer work practices and more reliable information our clients can build on — literally.”
To learn more about DGT’s silver anniversary and the team’s capabilities, visit https://dgtassociates.com/25-years/.
About DGT Associates
DGT Associates is New England’s premier surveying and engineering firm, with offices in Boston, Framingham, Worcester, and Preston, Connecticut. Guided by a 140-year heritage of legacy firms, DGT is committed to a tech-forward, no-corners-cut approach to its core services — surveying, engineering, and subsurface utility mapping. DGT’s experienced teams of surveyors, GIS professionals, utility mapping specialists, wetlands experts, and civil engineers utilize the latest technology to deliver valued, meaningful results. The firm’s clients span a cross-section of community stakeholders across New England and the United States, from developers and construction managers to municipalities and energy companies. Learn more at www.dgtassociates.com
Media:
Kerrianne Sullivan
781-444-5478
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HOUSTON--(BUSINESS WIRE)--#helium--Paradox Resources, LLC (“Paradox Resources” or the “Company”) today announced the closing of a strategic transaction with Sage Road Capital. Proceeds from the transaction are enabling the Company to advance the optimization and automation initiatives actively underway at its Lisbon Valley Gas Plant as Paradox continues to expand the Company’s midstream system. These efforts, combined with additional ongoing strategic initiatives, will create newly available access to high-quality gathering, processing and marketing services for regional producers of stranded Helium-rich resources in the southern Paradox Basin.
Paradox Resources, an integrated energy company, owns multiple producing oil and gas fields in Utah and Colorado which feed its wholly-owned Lisbon Valley Gas Plant. The Lisbon Valley Gas Plant is an advanced processing facility capable of treating 60 MMcf/d of natural gas with a 45 MMcf/d cryogenic plant and a 7,500 Bbl/d fractionation train. At full current capacity, it will strip and polish up to 1,100 Mcf/d of Helium to “6 Nines”, or 99.9999% purity. In addition to servicing its own growing production volumes, the Company has executed multiple new contracts with third-party producers that provide integrated solutions and have now created market access for their natural gas production.
Paradox Resources is capable of selling the highest quality purified Helium, a product that is in short supply globally and is an especially critical element in this form of purity for the Semiconductor, Medical, Research, Space and Defense Industries, in addition to the Welding and Balloon and Party Industries. The Company’s Lisbon Valley Gas Plant is one of only eight Helium liquefiers in the United States, representing 7% of total North American Helium liquefaction capacity, and sits in the Paradox Basin in the Four Corners region of the United States. The Paradox Basin has been noted by the U.S. Geological Survey as having one of the largest undeveloped oil and natural gas fields in the United States and contains reservoirs with world-class Helium content of up to 8% of the total natural gas stream. Virtually 100% of these volumes are expected to be accessible to the Lisbon Valley Gas Plant.
As it has expanded its regional presence, Paradox Resources has taken an active leadership role in advancing important social initiatives to invest in and improve lives in its local communities. Paradox will continue to move forward with projects that reduce emissions, its carbon footprint and its overall environmental impact.
“Our transaction with Sage Road Capital better enables Paradox to access a critical but stranded Helium resource and transport it to the Lisbon Valley Gas Plant to process and liquefy 6 Nines Helium. It also represents further validation of Paradox’s positioning within the Four Corners region and the broader Helium market. We look forward to working with the Sage Road team to realize the potential of the region’s significant undeveloped resources,” said Todd A. Brooks, Paradox Resources President and Chief Executive Officer.
Benjamin A. Stamets, Managing Partner of Sage Road Capital, stated, “We are excited to partner with Paradox Resources and its management team. Todd is a talented entrepreneur who has done an exceptional job growing Paradox Resources over the past four years into a major player in the North American Helium market. Our investment illustrates our confidence in the Company’s vision and strategy and in the capability of its leadership to deliver on those. Sage Road remains passionate about investing and stewarding capital in a responsible manner and we believe Paradox’s growth potential and ESG initiatives align well with our objectives.”
About Paradox Resources
Headquartered in Houston, Texas, Paradox Resources is a privately held, return driven, independent energy company engaged in the exploration, development, production, acquisition, transportation and processing of oil, natural gas and Helium resources in the United States, with primary assets within the Paradox Basin of Utah and Colorado. More information about the Company may be found at http://www.paradoxresources.com.
About Sage Road Capital
Sage Road Capital is a Houston, Texas based private equity investor in the energy industry. Founded in 2012, Sage Road targets lower middle-market investment opportunities in North America. For more information, please visit http://www.sageroadcapital.com.
Joanna Barrett
Paradox Resources
+1 6178754447
Solution is live on N4 3.8 and will increase efficiency for customers investing in automation at their terminals
OAKLAND, Calif.--(BUSINESS WIRE)--Navis, a part of Cargotec Corporation, and the provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the shipping supply chain, announced enhancements to the Automated Horizontal Transport (AHT) scheduler on N4 3.8. This solution is an evolution of its previous version and will be pivotal in helping Navis’ customers reach operational milestones in their automated operations.
Navis’ AHT Scheduler offers a turnkey solution to customers who are continuing to invest in automation at their locations for an increase in ROI, terminals who are scaling their operations or those looking for additional quay productivity. AHT Scheduler increases efficiency at terminals by providing real-time data tracking, predicting outcomes for crane operations and enabling real-time decision making for terminal operators around the world. The AHT Scheduler has already successfully rolled out at Long Beach Container Terminal (LBCT) in early May 2021, and has been implemented and is currently running seamlessly at the site.
Key benefits of Navis’ HT Scheduler include:
“We are constantly working on making our solutions smarter to give our terminals around the world the tools to help them optimize operations and enhance automation for better business results,” said Carlos Lopez Barbera is the Vice President of Product Management at Navis. “The newly enhanced AHT Scheduler will allow our N4 automation customers to implement a turnkey solution to help them reach operational milestones at their terminals for better production and output.”
For more information visit www.navis.com.
About Navis, LLC
Navis, a part of Cargotec Corporation, is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com
About Cargotec Corporation
Cargotec (Nasdaq Helsinki: CGCBV) enables smarter cargo flow for a better everyday with its leading cargo handling solutions and services. Cargotec's business areas Kalmar, Hiab and MacGregor are pioneers in their fields. Through their unique position in ports, at sea and on roads, they optimise global cargo flows and create sustainable customer value. Cargotec has signed United Nations Global Compact’s Business Ambition for 1.5°C. The company’s sales in 2020 totalled approximately EUR 3.3 billion and it employs around 11,500 people. www.cargotec.com
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DUBLIN--(BUSINESS WIRE)--The "Relays Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.
Major players in the relays market are Omron, Crydom Corp, Comus International, Eaton, TE Connectivity, Fujitsu, Fuji Electric, ABB, Teledyne and Hongfa.
The global relays market is expected to grow from $26.36 billion in 2020 to $28.53 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%.
The growth is mainly due to the companies rearranging their operations and 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 $34.86 billion in 2025 at a CAGR of 5%.
Increasing investments in solar energy projects globally is expected to drive the relays market in the forecast period. Relays are used in solar energy projects to cut off high DC voltages. According to the Global Trends in Renewable Energy Investment 2019 report by the UNEP, solar energy attracted the highest capacity investments globally at $133.5 billion.
The Middle East Solar Industry Association (MESIA) expects solar energy projects worth over $15 billion to start operations in the Middle East in the next five years. With increasing demand from solar energy projects, relay manufacturers are now offering relays compatible with solar energy systems. For instance, Fujitsu is offering relays designed especially for solar applications.
The relays market consists of sales of relays which are electromagnetic switches used to turn on or turn off a circuit electronically or electromechanically. They operate by opening one electrical circuit and closing contacts in another circuit. Relays include PCB power relays, signal relays and plugin relays.
High power consumption by relays and the presence of alternatives such as optocouplers (opt-isolators) is acting as a restraint on the relays market. Relays are used to turn on or turn off a circuit electronically or electromechanically. Relays pose a problem in cases where power consumption needs to be kept minimum.
For instance, to switch on a small LED light, the power consumed by the relay could be more than the power consumed by the light. Also, PV solar systems may require larger solar panels and battery to compensate for the excess power consumption by relays. This increases costs and limits the usage of relays in such applications.
Plug-in relays are increasingly being used in the automotive sector due to their light weight compared to electromechanical relays. These relays can handle high-rated current and operating voltage similar to that of electromechanical type relays. Plug-in relays are being used in automobile applications such as electrically heated catalytic converters, heater controls, windscreen wipers, motors and pumps, and body electronics, such as door locks, seat controls, window lifters and others.
For instance, Omron's plug-in automotive relays that range from 20A to 70A are used in automotive applications such as arter motors, heater controls, windscreen wipers and any applications that require high continuous current switching.
In June 2019, TE Connectivity (TE), a consumer electronics company, acquired the Kissling group of companies for an undisclosed amount. The acquisition will enable TE to expand its portfolio of specialty relays and switches to support the needs of industrial and commercial transportation customers. Kissling group is a provider of high- power relays and ruggedized switches that are used in various applications such as commercial vehicle, transportation, industrial, military, aviation industries and others.
Key Topics Covered:
1. Executive Summary
2. Relays Market Characteristics
3. Relays Market Trends and Strategies
4. Impact of COVID-19 on Relays
5. Relays Market Size and Growth
5.1. Global Relays Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on the Market
5.2. Global Relays Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Relays Market Segmentation
6.1. Global Relays Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.2. Global Relays Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Relays Market, Segmentation by Voltage, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.4. Global Relays Market, Segmentation by End-User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Relays Market Regional and Country Analysis
7.1. Global Relays Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Relays Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
Companies Mentioned
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TTF Futures Open Interest +21% y/y; TTF Futures Volume +22% y/y
Number of participants trading TTF +83% since 2016
JKM Futures & Options OI +10% y/y; Volume +15% y/y
AMSTERDAM & LONDON--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today announced record activity in the TTF natural gas (“TTF”) and JKM LNG (Platts) (”JKM LNG”) benchmarks, which work together to provide the market with a global reference price for gas.
TTF natural gas futures reached record open interest of approximately 1.94 million contracts on May 26, 2021 and is up 21% year over year (“y/y”), with open interest out to December 2028. Since 2016, Average Daily Volume (“ADV”) in TTF futures and options has grown more than 40% on average every year. ADV has reached 155,000 contracts Year To Date (“YTD”), an increase of 5% versus the same period in 2020.
The total number of participants trading TTF has grown by 83% from 2016 to 2020. Participants based outside of Europe have grown by 164% since 2016, with the highest growth coming from those based in the US. The strong growth in trading activity and participation in the ICE TTF contract reflects how TTF is being used as a global gas benchmark.
JKM LNG futures reached record open interest of 108,210 contracts on May 13 and is up 10% y/y. ADV in JKM LNG futures and options YTD is 3,800 contracts, an increase of 14% versus the same period in 2020. The number of participants trading JKM LNG futures has increased 25% since May 2020, with a significant contribution to growth coming from participants based in East Asia, a region considered to be the largest LNG-importing region in the world.
The TTF first line financial futures contract is a cash settled version of the benchmark TTF futures contract and trades in US Dollars per MMBtu. This contract is becoming increasingly popular because it allows market participants to trade TTF in the same currency (USD) and unit of measurement for energy (MMBtu) as the other globally relevant gas hubs, Henry Hub and JKM LNG. By the close of business on May 11, 2021, volume traded in TTF first line financial futures had already exceeded volume traded during the whole of 2020. Open interest in TTF first line financial futures is almost 19,000 contracts and a record 8,593 contracts traded in April 2021.
“Natural gas has become a global market and the record levels of open interest and strong trading activity in TTF and JKM LNG futures reflect how these contracts are at the forefront of global natural gas price formation,” said Gordon Bennett, Managing Director, Utility Markets at ICE. “The increased utilization of JKM by participants in East Asia is a key milestone in the maturity of the LNG market and reinforces the position of the ICE JKM contract as a key benchmark for natural gas in the region.”
TTF and JKM futures and options form part of ICE’s global natural gas complex alongside NBP, Henry Hub, WIM LNG (Platts) and Spark LNG Freight Futures contracts. These contracts are cleared at ICE Clear Europe as part of ICE’s global energy futures platform covering oil and the environmental complex, allowing customers to benefit from critical margin offsets to enhance capital efficiency.
For more information on how to clear or trade ICE’s global natural gas markets please contact This email address is being protected from spambots. You need JavaScript enabled to view it. and visit https://www.ice.com/global-natural-gas-futures.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
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Source: Intercontinental Exchange
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Powered by the company’s nearby biomass energy plant, Jefferson’s new manufacturing facility in Lufkin,Texas will rely on Zume’s patented molded fiber manufacturing equipment system and technology
CAMARILLO, Calif. & LUFKIN, Texas--(BUSINESS WIRE)--Jefferson Enterprise Energy and Zume announced a joint venture, creating one of the world’s first entirely renewable energy-powered manufacturing facilities that will produce compostable molded fiber products. The Jefferson Enterprise Energy owned and operated manufacturing facility will rely on Zume’s patented molded fiber manufacturing equipment, technology and professional services.
The Jefferson Enterprise Energy - Zume partnership comes at a critical time as sustainable packaging is a $320 billion a year business. Until now, there has been no economically viable solution to move away from single-use plastic. Through Zume’s patented molded fiber manufacturing equipment system and technology, global food brands are able to transition from plastic packaging to sustainable solutions without significant disruption to their manufacturing processes or their bottom line.
“Jefferson Enterprise Energy is committed to being a global leader in the mass production of recyclable and compostable molded-fiber sustainable solutions, creating one of the world’s first entirely renewable energy and sustainable products supply-chain manufacturing operations,” said Al Salazar, Founder and CEO, Jefferson Enterprise Energy. “Our partnership and reliance on Zume’s sustainable solution product manufacturing technology and expertise empowers us to move forward with confidence, as we help lead the way toward replacing plastics and styrofoam with superior and affordable molded-fiber products.”
Jefferson Enterprise Energy’s new sustainable solutions manufacturing facility is being financed and built in Lufkin, Texas -- a facility that will source its operating energy from Jefferson Enterprise Energy’s nearby biomass energy plant. The raw materials for the new facility will be sourced from unused farming by-products, creating an entirely closed loop system where the food that is grown creates the energy to power the facility as well as provide the input materials for the compostable packaging itself, and then after use, is used to help grow more food.
“Soon, the world will look to Lufkin,Texas as a center-point for the future of 100% renewable energy powered mass production of sustainable containers and products that will ultimately replace plastics and styrofoam,” said Alex Garden, Chairman and CEO, Zume. “At Zume, we are able to deploy our manufacturing machinery and technology very efficiently, helping to ensure that the molded-fiber products manufactured by Jefferson Enterprise Energy are high-quality, very efficient and economically viable.”
“Jefferson Enterprise Energy sets the gold standard for local economic growth by investing in the future of biomass products,” said Mark Hicks, Mayor of Lufkin, Texas. “The plans for their Lufkin project are right in the wheelhouse of our city’s economic development goals. Manufacturing is not about a quick exit strategy but is centered on a long-term valuation creation and Lufkin, Texas is the perfect location for this facility.”
Separate from its global manufacturing partnerships, Zume also manufactures its sustainable solutions containers at Zume’s facility in Camarillo, California. Zume is engaged in world-wide sustainable solutions manufacturing partnerships with Parason and Satia Industries. Currently, Zume is available in 20 countries through its network of premier food brands, brokers, and distributors, including Boon Distribution, Click Chefs, Detox Folks, Majestic Timbers, Packaging Supplies, Prestige Tissues, Rebel Foods, Saintjo Innovations, SealTec, and SR Papers.
Founded in 2015, Zume is actively reducing the world’s plastic waste with economically viable substitutes for plastic packaging. As creators of the world’s most advanced molded-fiber manufacturing system, Zume is a global provider of sustainability solutions and offers a vast range of sustainable manufactured solutions and services across the food, beverage, healthcare, and CPG categories. For more information, go to zume.com.
Partner with Zume
About Jefferson Enterprise Energy
Jefferson Enterprise Energy is dedicated to preserving natural resources by converting waste into recycled products.
Maggie Philbin
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Multi-purpose infrastructure project would provide reliable, low-carbon electricity to Colombia, establish digital infrastructure hub
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Black & Veatch, a leading provider of low-carbon energy infrastructure solutions, has been selected to conduct the technical, engineering and commercial studies of the Andes Energy Terminal (AET) located in the Aguadulce Peninsula in Buenaventura, Colombia. The study will build on commercial and technical work previously completed by the sponsors and focus on the development of a liquefied natural gas (LNG) regasification facility and 400 megawatts (MW) of natural gas-powered generation assets, in order to deliver reliable electricity to cities in central and southwestern Colombia.
With economic growth returning in many sectors and robust GDP projections, Colombia is anticipated to experience power generation shortfalls in 2022 and consistent natural gas deficits by 2023, even as global LNG production soars. The AET seeks to aid Colombia’s energy transition to more sustainable power sources and add resilience and reliability to an electric grid heavily reliant on hydro generation assets that are subject to weather-related production variance. In addition, the AET looks to develop a hyperscale data center and new facilities for storing liquid fuels, including infrastructure to meet the emerging opportunity in the hydrogen market.
“Our energy terminal reflects a forward-looking approach to solving Colombia’s energy and data infrastructure needs,” said Manuel Tenorio, Chairman, Andes Energy Terminal. “By combining fuel supply, efficient and sustainable power generation, storage and data infrastructure in one location, we can achieve significant efficiencies to reduce the overall environmental footprint of the project and provide a strong basis for much needed investment in the Southwest region of Colombia.”
The AET is strategically located within the Bay of Buenaventura presenting an opportunity to build a multi-purpose infrastructure project leveraging a natural deep-water port that provides ease of access, rights of way and simplified permitting due to its location near the Port of Buenaventura. The Port is considered the main foreign trade port in Colombia with roughly 65% of international cargo mobilized through its facilities.
The feasibility studies, which are funded by a grant from the United States Trade and Development Agency (USTDA), will verify the proposed project site’s suitability, define the project design requirements, and estimate capital and operating costs. It also will assess the financial viability and define financing options while preparing a detailed implementation and construction plan.
Black & Veatch, founded in 1915, is a global engineering, procurement, construction (EPC) and consulting company specializing in infrastructure development in power, oil and gas, water, telecommunications, government services, mining, and data centers. Black & Veatch is the 7th largest majority employee-owned company in the United States and ranked No.2 in power design by Engineering News-Record, which compiles and publishes rankings of the largest construction and engineering firms annually, measured by gross revenues. The Company has more than 100 offices worldwide and has executed projects in more than 100 countries on six continents.
Andes Energy is also partnering with a world-leading strategic power solutions vendor, which will provide equipment, solutions and services for the power plant. The partner, who remains undisclosed, is active in more than 180 countries, with their technology producing a third of the world’s electricity.
“As outlined, this project provides the type of comprehensive planning critical to accelerating the energy transition and enabling greater grid resilience through more-connected infrastructure,” said Oscar Falcon, Managing Director of Latin America for Black & Veatch’s power business. “Across Central and South America, developers of ambitious projects like the Andes Energy Terminal demand thoughtful assessments by trusted experts in everything from LNG and electrical generation to energy storage and emerging technologies. Our expertise across the power market provides the surety developers and investors need to undertake projects of this scale and complexity.”
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.
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Atlantic Shores is funding Rutgers to Conduct a Multi-phase Modeling Effort to Study the Influence of Climate Change and Offshore Wind Development on Atlantic Surfclam Fishery Economics in the Mid-Atlantic Bight
NEWARK, N.J.--(BUSINESS WIRE)--Today, Atlantic Shores Offshore Wind, LLC (Atlantic Shores) and Rutgers, The State University of New Jersey, announced the launch of a multi-phase modeling study in collaboration with the surfclam industry. The goal of the study is to better understand how Mid-Atlantic wind farm developments that are anticipated over the next 30 years, along with climate change, may influence the distribution and abundance of surfclams. The study will also examine the economics of the Surfclam Fishery within the Atlantic Shores Lease Area and the greater Mid-Atlantic Bight.
This study builds off Rutgers’ existing Spatially explicit, Ecological, agent-based Fisheries and Economic Simulator (SEFES). Developed in partnership with the surfclam industry and fisheries managers, including the Bureau of Ocean Energy Management (BOEM) and the National Marine Fisheries Service (NMFS), SEFES simulates the surfclam fishery in the Mid-Atlantic Bight. The simulator models the surfclam stock biology along with fishery captain and fleet behavior, federal management decisions, fishery economics, port structure and now, wind farm development.
The model is currently used to address these interactions using present day conditions. However, over the course of the lifetime of planned wind energy installations (~3 decades), projected changes in ocean conditions may lead to changes in surfclam stock distribution that could alter these interactions.
The partnership with Atlantic Shores will increase SEFES’ capabilities to assess fisheries and wind development activities from present day to 30 years in the future. The model will not only be able to look at changing conditions across the Mid-Atlantic Bight, but it will also be used to run scenarios that factor in the presence of Atlantic Shores’ proposed portfolio of projects within its Lease Area. Atlantic Shores’ goal is to better understand the changes in surfclam habitat and abundance within its Lease Area and more accurately understand and mitigate any potential effects on the surfclam industry from the construction and operation of Atlantic Shores’ future proposed projects.
“We are looking forward to having our model take this next step towards ‘future casting,’” said Dr. Daphne Munroe, the study’s Principal Investigator and associate professor of Marine and Coastal Sciences at Rutgers School of Environmental and Biological Sciences. “The strength of our modeling approach lies in the information and advice we are generously provided by advisors, in particular the New Jersey Surfclam Fleet, who have a deep working knowledge of the systems we are trying to simulate.”
“We are proud to continue building on our valuable partnership with Rutgers University as well as our collaboration with the commercial fishing industry. We appreciate the willingness of the surfclam industry to actively participate with us in this effort,” said Jennifer Daniels, Development Director at Atlantic Shores. “This study is the latest in our continued commitment to lead with science by making our Lease Area available to researchers and mariners alike. It’s through the application of tools like this simulator that we can responsibly develop our Lease Area and deliver renewable energy for New Jersey communities with minimized effects on the fishing industry.”
About Atlantic Shores Offshore Wind, LLC:
Atlantic Shores Offshore Wind, LLC is a 50/50 partnership between Shell New Energies US LLC and EDF Renewables North America. The joint venture formed in December 2018 to co-develop a 183,353 acre Lease Area located approximately 10-20 miles off the New Jersey coast between Atlantic City and Barnegat Light. Atlantic Shores is strategically positioned to meet the growing demands of renewable energy targets in New York, New Jersey and beyond, with strong and steady wind resources close to large population centers with associated electricity demand. Our Lease Area, once fully developed, has the potential to generate over 3,000 MW (3 GW) in wind energy and power nearly 1.5 million homes. The capital and expertise needed to develop such a large area is significant. Together, Shell and EDF Renewables have the investment capability and industry experience to bring this project to scale safely, efficiently and cost effectively. For more info: www.atlanticshoreswind.com
Julia Ofman, This email address is being protected from spambots. You need JavaScript enabled to view it., 646 246 8211
Making Universal Hydrogen the only startup member of the two Councils
LOS ANGELES--(BUSINESS WIRE)--#engineering--Universal Hydrogen, the company fueling carbon-free flight, today announced it has joined the top tier of sponsorship of the Society of Women Engineers (SWE) and the Society of Hispanic Professional Engineers (SHPE), becoming a member of the SWE Corporate Partnership Council (CPC) and the SHPE Industry Partnership Council (IPC).
“We are building Universal Hydrogen with a founding commitment to diversity, equity, and inclusion (DEI),” said Paul Eremenko, Universal Hydrogen co-founder and CEO. “Having just closed a major funding round, we are rapidly growing the team and looking to recruit a diverse workforce as we build a company culture that is empowered, collaborative, open, and human-centered.”
SWE’s CPC is made up of industry leaders including Apple, Caterpillar, ExxonMobil, FedEx, GM, Honeywell, Linde, Rolls Royce, Siemens, and Toyota. These member companies support the mission and objectives of SWE by:
“Diversity is not just a moral, but a business imperative for us,” said John-Paul (J.-P.) Clarke, Universal Hydrogen co-founder and CTO. “The highest performing teams bring together people with different backgrounds, mindsets, and contexts to solve the world’s toughest challenges.”
At SHPE, IPC members take a leading stance in advancing diversity and inclusion in STEM fields. The IPC is made up of over 50 organizations including Fortune 500 companies and multiple government agencies.
“We want to make sure that we embed DEI in the very core of the company,” said Lauren Sammes, Universal Hydrogen Hydrogen Systems Fellow. “It is not something that we can tack on later—it’s foundational.”
About Universal Hydrogen
Universal Hydrogen is making hydrogen-powered commercial flight a near-term reality. The company takes a flexible, scalable, and capital-light approach to hydrogen logistics by transporting it in modular capsules over the existing freight network from green production sites to airports around the world. To accelerate market adoption, Universal Hydrogen is also developing a conversion kit to retrofit existing regional airplanes with a hydrogen-electric powertrain compatible with its modular capsule technology.
Kate Gundry
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DALLAS--(BUSINESS WIRE)--#innovation--The Southern Gas Association is pleased to announce Campos EPC, LLC, Picarro, e2 Companies and Anax Power as the top four presentations for the 2021 Innovative Tech Forum.
“Congratulations to the winners of our first-ever Innovative Tech Forum, a forum for technology, service, and product innovators, business pioneers, and influencers who are not afraid to lead the way to the future,” said Suzanne Ogle, President and CEO of the Southern Gas Association. “We were pleased to partner with our Associates on this unique opportunity and promote the innovation acceleration we see in the natural gas industry. SGA applauds each of the presenting companies and all those who submitted proposals. As providers of innovation driving sustainable energy solutions, these companies think of themselves first as collaborators and second as competitors.”
“This was a tough selection process due to the outstanding quality of the submissions,” said Jimmy Staton, SGA Board Chair and CEO of Southern Star Central Gas Pipeline. “Congratulations to the winners, and thank you to all of those who submitted proposals. The Innovative Tech Forum is an inspiring opportunity that bodes very well for the natural gas industry. The Management Conference presenters are the first in a growing list of cutting-edge companies that the Innovative Tech Forum will propel forward and upward. We are extremely grateful to our Associate Section Managing Committee for their continuing support and leadership in this effort.”
Campos EPC, an engineering services company, presented Hydrogen-based Energy Solutions.
To support the safe and effective implementation of Hydrogen blending in our industry, Campos EPC, along with our partners, is supporting hydrogen design and testing projects along with determining safe operating metrics for Hydrogen blending in natural gas pipelines. We have designed a phased timeline on how this can be accomplished within already established systems to assist in project planning and preparation. We have also designed modular hydrogen blending, injection and measurement systems installed in natural gas testing facilities to study impacts to distribution systems in a controlled environment. For any Hydrogen blending needs, we are able to provide detailed engineering support for mechanical, electrical, and controls scope, as well as a thorough review of hydrogen specific safety protocols, procedures, equipment spacing, and materials selection. We also support end-user appliances testing, equipment testing, and combustibility analysis. Furthermore, we have researched and established connections with electrolyzer manufacturers, allowing us to plan and build complete hydrogen production and blending systems.
Picarro, a provider of hardware-enabled software solutions for natural gas utilities, presented Emission Reduction.
The Picarro Solution combines mobile methane emissions measurements and other data sources with powerful analytics, enabling natural gas operators to better manage their networks to be more safe, clean, and cost-effective than ever before. This presentation will describe how natural gas utilities can operationalize Picarro’s emissions quantification technology to rapidly identify and fix “Super Emitter” leaks which have especially high leak flow rates. SGA members will learn how repairing a very small number of Super Emitters can result in significant emissions reductions.
e2 Companies, an ESG focused Distributed Generation provider, presented Renewable Energy Integration
Innovating to a clean energy future requires an all-of-the-above approach which incorporates natural gas. Our Patent Pending R3Di Distributed Generation System combines battery storage and natural gas engines, creating outcomes which support the integration of renewable energy and provides a level of resiliency, reliability, and energy savings unmatched in the industry. By partnering with members of the Natural Gas industry, we are delivering reliability solutions to Mission Critical customers throughout North America.
Anax Power, an environmental provider, presented Generating Clean Power from Natural Gas
Anax Power generates clean power from natural gas, without combustion. The Anax Turboexpander (ATE) uses the pressure and flow of gas moving through pipelines to spin a generator and create carbon-free power that creates financial and environmental value for natural gas pipelines, utilities, power plants, and large industrial sites.
Southern Gas Association Innovation Tech Forum, which takes place on July 1st from 9am to 10am central standard time highlights all the ways innovative thinking and innovative technology can build a better and cleaner energy future for all of us. Celebrating Natural Gas innovation, the all-new Innovation Tech Forum is a dynamic tech fest dedicated to product and service discovery. Focusing on innovation, SGA Association members who submitted proposals will have an opportunity to showcase their cutting-edge solutions with the SGA Operating Member community in a 10-minute live technology presentation with live Q&A.
Our panel of Industry Judges included SGA’s Board Executive Committee and our 31 Board Directors. Names and companies can be viewed on our website: https://southerngas.org/about/board-of-directors/.
About Southern Gas Association
Founded in 1908, the Southern Gas Association is the leader in natural gas training and professional development. SGA is a community of natural gas professionals across the U.S. and Canada. Representing the industry from drill bit to burner tip, SGA’s membership comprises more than 200 operators across the distribution, transmission, and gas supply marketing sectors and more than 350 industry partners. Through digital and in person engagement, SGA members share ideas, resources, and best practices to develop people, relationships, and solutions.
Southern Gas Association
Tracy Honea
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Moving DART® technology from the lab into production and the field
SAUGUS, Mass.--(BUSINESS WIRE)--#DARTMS--IonSense (Saugus, MA), a leading provider of Open Air/Ambient Ionization sources, systems and integrated solutions for the $5B Mass Spectrometry marketplace, is pleased to announce the appointment of Jeffrey Zonderman as President and Chief Executive Officer. The appointment is key to the company’s strategy for accelerated growth in applied markets including forensic and security applications.
Mr. Zonderman brings experience gained from commercializing disruptive technologies at early-stage ventures including RedShift Bioanalytics and Cohesive Technologies, as well as major instrument manufacturers including Thermo Fisher Scientific and Waters Corporation.
“Mass Spec is finally catching up with IonSense’s DART,” comments Jeff Zonderman. “The inherent limitations of traditional LC/MS have held scientists back from utilizing the rapid screening capability of DART and its enablement of “Swab and Detect” workflows. Increased performance at a lower cost expands the realm of what’s historically been possible by mass spec instrumentation. It is a privilege to have the opportunity to join the IonSense team at such an exciting time.”
“We are thrilled Jeff has joined IonSense as his experience positions him well to lead the company and achieve our strategic vision,” said Bob Linke, Executive Chairman of the Board. “I’d also like to thank Dr. Brian Musselman whose contributions in founding and leading the company to establish the DART technology in labs around the world have been tremendous. We are pleased to announce Dr. Musselman will take on the newly created role as IonSense’s Chief Technology Officer to guide proprietary DART technology through its next stage of growth outside the central lab. Brian’s vision will continue to play a key role developing IonSense’s technologies to achieve our strategic goals.”
DART analyses a broad variety of analytes in their native form, arming analytical chemists with the means to rapidly identify samples, including many that don’t ionize well using other methods such as LC-MS. As an open-air ionization source, DART requires no sample preparation. It provides immediate answers, boosting efficiency of analysis. DART’s real-time operation and versatility toward analytes give users the ability to rapidly identify unknown compounds, to explore new applications, and to accelerate research.
To find out more about the DART system, please visit www.ionsense.com or contact the company at This email address is being protected from spambots. You need JavaScript enabled to view it..
Claire England, Covalent Bonds
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Consulting firm launches premier services for oil and gas, utilities, renewables, energy, and construction industries
PITTSBURGH--(BUSINESS WIRE)--Proshare Services, a Pittsburgh-based consulting firm that specializes in strategic planning and innovative solutions for businesses, announced today the official launch of a full range of safe, well-executed engineering, procurement, and construction (EPC) services to support clients in oil and gas, utilities, renewables, energy, and commercial construction industries. With a proven track record of delivering capital efficiency and project certainty to clients across diverse industries, Proshare Services’ comprehensive services help businesses streamline operations, meet project schedule and cost requirements, and facilitate effective mobilization of skilled teams and advanced methodologies.
“Our team’s proven process begins with the outcome in mind. Fueled by our relentless pursuit to deliver optimal results, we align our capabilities to our clients’ objectives to create a lasting impact,” said Danielle Baughman, President, Proshare Services.
Proshare Services is a one-stop shop for EPC and design-build services with success stemming from building a talented team of industry professionals and maintaining lasting, meaningful relationships with stakeholders. Through a holistic approach, the firm’s consultants work with companies to implement solutions that deliver projects on time and within budget. Built upon values of integrity and trust, Proshare Services ensures efficiency without sacrificing safety. By conducting thorough analysis with stakeholders, the firm ensures they are cultivating an environment where employees can thrive.
“With decades of progressive experience, our team has defined exactly what is needed to drive optimal results,” said Scott Gorg, Project Lead Professional, Proshare Services. “We consistently achieve best-in-class execution while ensuring safety remains the top priority.”
Schedule a free 30-minute consultation to learn how Proshare Services can take your organization to the next level.
About Proshare Services
Proshare Services is a professional management and process consulting firm that specializes in strategic planning and innovative solutions for businesses to help execute projects safely, on time, and within their allotted budget. Through Experience, Lean and Six Sigma Principles, the team of experienced consultants works within organizations to optimize company strategies, processes and communications to reduce project costs and set a foundation for sustainable growth. The firm has experience in Engineering, Construction, Project Management, Contracts and Procurement, and Drafting. Proshare Services is certified as a diverse supplier and recognized as a national Women’s Business Enterprise (WBE) by the Women’s Business Enterprise National Council (WBENC). To get started with a complimentary consultation, visit https://www.proshareservices.com or call (412) 532-9441.
Danielle Baughman, President
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412-532-9441
Investment in DeFi Company
LONDON--(BUSINESS WIRE)--Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB) (OTCQX: ARBKF), is pleased to provide the following operational update for May.
Operational Update
During the month of May, Argo mined 166 Bitcoin or Bitcoin Equivalent (together, BTC) compared to 163 BTC in April. This brings the total amount of BTC mined year-to-date to 716 BTC.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in May amounted to $7.8 million (April 2021: $9.3 million). Argo generated this income at an average monthly mining margin of approximately 82% for the month of May despite fluctuations in mining difficulty. (April 2021: 85%).
At the end of May, the Company held 1108 Bitcoin or BTC equivalent.
Argo is also pleased to announce that it has executed a Grid Interconnection Agreement with the Wind Energy Transmission of Texas (WETT) and American Electric Power (AEP) for 200 MW at their Helios site in the Panhandle of Texas for its Texas mining facility. The facility is expected to connect to the Electric Reliability Council of Texas (ERCOT) grid in Q1 2022. Argo has also purchased two 90 MVA 345kV transformers from Pennsylvania Transformer Technology, a key part of the electrical infrastructure for the Company’s Texas development. The transformers will be manufactured in the United States and are scheduled to be delivered to the site in February 2022. When completed, Argo’s Texas mining facility is expected to be one of the largest facilities in the United States.
Update on Mining Infrastructure
The Company also announces an update to its 18 January 2021 announcement relating to the expansion of the Company’s mining capacity in Q1 and Q2 2021. As previously announced, Argo purchased machines with a total of 540 petahash (PH) from a leading manufacturer. However, as a result of production delays the order was cancelled and Argo has received a full refund. Due to Argo’s long-standing partnership with Core Scientific, a replacement order has been placed with Bitmain (via Core Scientific) of Antminer S19 and S19J machines totalling 530 PH at a competitive price to current market rates. These mining rigs are expected to be delivered and installed in stages, with some machines already operational, and the rest expected to be installed, later than the original order, in September and October 2021.
To meet the balance of the order, Argo has also increased a previous order from a second manufacturer from 70 PH to 80 PH, delivery of which is currently scheduled for July 2021. Combined, the new mining hardware is expected to add approximately 610 PH to Argo’s existing operations, bringing the Company’s expected total computing power to 1.68 exahash by mid October 2021.
Investment in DeFi Company
As part of the Company’s ongoing strategy to build physical and digital cryptocurrency infrastructure, Argo is also pleased to announce it has made an investment of $208,000 (CAD $250,000) in WonderFi Technologies Inc. (formerly DeFi Ventures Inc.), as part of a larger fundraising round by WonderFi. WonderFi is a technology company with a mission to bring decentralised finance to the masses through a suite of products and tools which are built on the core principles of simplicity and education. As part of the investment, Peter Wall has been appointed as an unpaid advisor to WonderFi.
“May has been a busy month. We have continued to deliver strong revenue and as a result, Argo’s Bitcoin holding has now surpassed 1,000 BTC” Peter Wall, Chief Executive of Argo said. “We are also delighted to have signed the Crypto Climate Accord and to have been involved in the creation of the Bitcoin Mining Council. These initiatives have the potential to enact systemic change within our sector and speed up the rate at which miners switch to renewable energy to power their operations. We are also pleased to announce Argo’s strategic investment into WonderFi. Access to this emerging sector needs to be democratised and we believe WonderFi is in an excellent position to achieve this.”
About Argo:
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.
North America
Wachsman
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Tel: +1-212-835-2511
Europe
Emma Valgimigli
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Tel: +44 7727 180 873
Salamander Davoudi
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Tel: +44 7957 549 906
DES MOINES, Iowa--(BUSINESS WIRE)--BHE Renewables today announced it has completed the acquisition of the 54-megawatt Independence wind energy project from RPM Access LLC.
Located near Ryan, Iowa, the project consists of 18 GE 2.8-megawatt wind turbines and two GE 2.3-megawatt wind turbines and will be completed in fourth quarter 2021. The project will serve Central Iowa Power Cooperative under a 20-year power purchase agreement.
“The addition of the Independence wind project grows our wind energy portfolio to 1,719 megawatts and provides another opportunity for us to meet the growing demand for energy generated from renewable resources,” said Alicia Knapp, president and CEO of BHE Renewables. “We are excited about this project and look forward to finding more opportunities to own and operate renewable energy resources that support a cleaner energy future.”
About BHE Renewables
BHE Renewables is a wholly owned subsidiary of Berkshire Hathaway Energy and is headquartered in Des Moines, Iowa.
Since 2012, BHE Renewables has invested extensively in solar, wind, geothermal and hydro projects. As a long-term owner of assets, the company’s wind projects include the 300-megawatt Jumbo Road project near Hereford, Texas; 168-megawatt Pinyon Pines I and 132-megawatt Pinyon Pines II projects, located near Tehachapi, California; 81-megawatt Bishop Hill II project in Henry County, Illinois; 400-megawatt Grande Prairie project in Holt County, Nebraska; 72-megawatt Marshall project in Marshall County, Kansas; 212-megawatt Walnut Ridge project in Bureau County, Illinois; and the 300-megawatt Santa Rita wind project in Reagan and Irion counties in west-central Texas.
Media Hotline: 515-242-3022
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Colgate Unveils Progress Toward Combating Climate Change, Decreasing Manufacturing Waste, Eliminating Plastic Waste, Conserving Water and Improving Oral Health
NEW YORK--(BUSINESS WIRE)--#sustainability--Colgate-Palmolive is committed to reimagining a healthier future for all people, their pets, and our planet. Progress in support of this purpose is outlined in its newly released 2020 Sustainability & Social Impact Report, which shows that 99% of new products launched in 2020 had improved sustainability profiles. Colgate met or exceeded its energy, greenhouse gas emission, water and waste reduction goals and reached more than 100 million consumers with water, sanitation, and oral health education — exceeding initial targets.
In recent years, the Company has achieved measurable steps toward its new 2025 Sustainability & Social Impact Strategy ambitions to build a more sustainable future, including:
“Tackling big problems like climate change, plastic waste, water scarcity and health starts with us,” said Ann Tracy, Colgate’s Chief Sustainability Officer. “We are proud that our Colgate brand is in more homes than any other, which is why we believe it’s our responsibility to help make it easier for the people who buy and use our products to live healthier, more sustainable lives.”
The launch of Colgate’s 2020 Sustainability & Social Impact Report continues a year of purpose-driven momentum for the Company. In the last 12 months, Colgate received its 11th consecutive EPA ENERGY STAR® Partner of the Year Award and was named the top performing Household Products company on the Dow Jones Sustainability Indices. Colgate’s recyclable tube innovation also earned Colgate a spot as one of Fast Company’s Most Innovative Companies of the Year and was among TIME Magazine’s 100 Best Inventions of 2020. To access the full report, please visit Colgate's Sustainability website at ColgatePalmolive.com/Sustainability.
About Colgate-Palmolive Company:
Colgate-Palmolive Company is a caring, innovative growth company reimagining a healthier future for all people, their pets and our planet. Focused on Oral Care, Personal Care, Home Care and Pet Nutrition, the Company sells its products in more than 200 countries and territories under brands, such as Colgate, Palmolive, elmex, hello, meridol, Sorriso, Tom’s of Maine, EltaMD, Filorga, Irish Spring, PCA Skin, Protex, Sanex, Softsoap, Speed Stick, Ajax, Axion, Fabuloso, Soupline and Suavitel, as well as Hill’s Science Diet and Hill’s Prescription Diet. The Company is recognized for its leadership and innovation in promoting environmental sustainability and community well-being, including its achievements in saving water, reducing waste, promoting recyclability and improving children’s oral health through its Bright Smiles, Bright Futures program, which has reached more than one billion children since 1991. For more information about Colgate’s global business and how the Company is building a future to smile about, visit www.colgatepalmolive.com. CL-C
Robert Goodfellow
Colgate-Palmolive Company
(646) 227-1218
OKLAHOMA CITY--(BUSINESS WIRE)--Enable Midstream Partners, LP (NYSE: ENBL) announced today that the Federal Energy Regulatory Commission (“FERC”) has granted approval to construct and operate the Gulf Run Pipeline project under section 7(c) of the Natural Gas Act. The project is designed to transport natural gas from some of the most prolific natural gas producing regions in the U.S., including the Haynesville, Marcellus, Utica and Barnett shales and the Mid-Continent region, to the U.S. Gulf Coast and is backed by a 20-year commitment for 1.1 billion cubic feet per day (Bcf/d) from cornerstone shipper Golden Pass LNG. The planned 42-inch pipeline provides for approximately 1.7 Bcf/d of capacity, allowing for upside potential beyond Golden Pass LNG’s commitment.
“We appreciate FERC’s thoughtful review of the project and all of the hard work from our best-in-class project team to reach this important milestone,” said Rod Sailor, president and CEO. “Gulf Run makes significant use of existing assets, reducing the project’s cost and environmental impact. With FERC approval and the demand for LNG increasing globally, the project is well-positioned to add new customer commitments.”
The cost for the project is currently estimated at approximately $540 million, and pipe for the project was recently acquired at favorable pricing relative to market. The contractor bidding process is underway, and the project is anticipated to be placed into service in late 2022.
ABOUT ENABLE MIDSTREAM PARTNERS
Enable owns, operates and develops strategically located natural gas and crude oil infrastructure assets. Enable’s assets include approximately 14,000 miles of natural gas, crude oil, condensate and produced water gathering pipelines, approximately 2.6 Bcf/d of natural gas processing capacity, approximately 7,800 miles of interstate pipelines (including Southeast Supply Header, LLC of which Enable owns 50%), approximately 2,200 miles of intrastate pipelines and seven natural gas storage facilities comprising 84.5 billion cubic feet of storage capacity. For more information, visit https://enablemidstream.com.
FORWARD-LOOKING STATEMENTS
Some of the information in this press release may contain forward-looking statements. Forward-looking statements give our current expectations and contain projections of results of operations or of financial condition, or forecasts of future events. Words such as “could,” “will,” “should,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” or “continue,” and similar expressions are used to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release include statements pertaining to our expectations of plans, strategies, objectives, growth and anticipated financial and operational performance, as updated by this press release. Forward-looking statements can be affected by assumptions used or by known or unknown risks or uncertainties. Consequently, no forward-looking statements can be guaranteed.
A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable. However, when considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in this press release and our Annual Report on Form 10-K for the year ended Dec. 31, 2020 (Annual Report). Those risk factors and other factors noted throughout this press release and in our Annual Report could cause our actual results to differ materially from those disclosed in any forward-looking statement. You are cautioned not to place undue reliance on any forward-looking statements.
Any forward-looking statements speak only as of the date on which such statement is made, and we undertake no obligation to correct or update any forward-looking statement, whether as a result of new information or otherwise, except as required by applicable law.
Media
Lee Ann DeArman
(405) 557-6882
Investor
Matt Beasley
(405) 558-4600
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