DUBLIN--(BUSINESS WIRE)--The "Ferrystat Monthly" newsletter has been added to ResearchAndMarkets.com's offering.
Ferrystat is a branded monthly report on the UK ferry market
The twenty-page statistical report is based on monthly returns from the leading passenger ferry operators in the UK. The report provides passenger, car and coach traffic by route by mode of transport with clearly-laid-out tables and illustrative charts.
This definitive monitor of the UK ferry industry tracks the competitive position of all major routes on a monthly basis. The report is available soon after the end of each reporting month.
Ferrystat provides timely information for tactical action to improve sales and to give guidance to suppliers, service providers and financiers on the latest trends in the industry.
Key Topics Covered:
For more information about this newsletter visit https://www.researchandmarkets.com/r/js5czd
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
DUBLIN--(BUSINESS WIRE)--The "North America Fuel Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The North America fuel additives market is estimated to witness a significant growth, at an estimated CAGR of around 4%, over the forecast period.
Key Market Trends
Gasoline to Dominate the Market
United States to Dominate the Market
Competitive Landscape
The North America fuel additives market is partially consolidated in nature. The major companies include Afton Chemical, The Lubrizol Corporation, Innospec Inc., BASF SE, and LANXESS, among others.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Enactment of Stringent Environmental Regulations
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Increasing Demand and Penetration of Battery Electric Vehicles (BEVs)
4.2.2 High Costs of R&D Activities
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Deposit Control
5.1.2 Cetane Improvers
5.1.3 Lubricity Additives
5.1.4 Antioxidants
5.1.5 Anticorrosion
5.1.6 Cold Flow Improvers
5.1.7 Antiknock Agents
5.1.8 Other Product Types
5.2 Application
5.2.1 Diesel
5.2.2 Gasoline
5.2.3 Jet Fuel
5.2.4 Other Applications
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Afton Chemical
6.4.2 Baker Hughes, a GE Company LLC
6.4.3 BASF SE
6.4.4 Chevron Corporation
6.4.5 Clariant
6.4.6 Croda International Plc
6.4.7 Evonik Industries AG
6.4.8 Exxon Mobil Corporation
6.4.9 Innospec Inc.
6.4.10 LANXESS
6.4.11 Royal Dutch Shell plc
6.4.12 The Lubrizol Corporation
6.4.13 Total
6.4.14 VeryOne SaS (EURENCO)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Accelerating Demand for Ultra-low-sulfur Diesel (ULSD)
For more information about this report visit https://www.researchandmarkets.com/r/5298ll
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the Citi 2021 Global Energy and Utilities Virtual Conference. The conference is being held virtually on May 11th and 12th.
The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
Innovative utility planning and Swell's Virtual Power Plants enable homeowners in southern California to receive a discounted second home battery and ongoing GridRevenue payments
LOS ANGELES--(BUSINESS WIRE)--Swell Energy Inc., an advanced energy and grid solutions provider, today announced new opportunities for Southern California Edison (SCE) customers enrolling in its two clean energy virtual power plant (VPP) programs further incentivizing the transition to renewable and reliable power sources. The VPP programs are available to SCE customers in various Orange County, Ventura County and Santa Barbara County neighborhoods who are interested in installing solar powered home batteries, and joining Swell's neighborhood Virtual Power Plants. Swell offers customers home batteries for a low fixed monthly payment and a second home battery at a reduced price when choosing Swell financing and joining Swell's VPP program. With this opportunity, customers and their communities can achieve greater resiliency and benefits from onsite backup power, and help the grid by reducing demand for electricity at key times.
VPPs offer a compelling way for homeowners, business owners and utilities to collectively meet today’s shifting energy needs by unlocking the potential of solar energy stored in an onsite battery. Owners can draw down stored energy when electricity is most expensive and reserve solar energy in case of a power outage. Participants in Swell’s southern California VPP programs further benefit by earning GridRevenue when consuming their stored energy in the evenings, providing much needed relief to the grid during peak times. By using a battery when the utility values it most, homeowners can arbitrage both retail and wholesale energy rates and achieve an accelerated payback on their energy system. Adding a second battery to the system further increases participation levels in the VPP and opportunities for GridRevenue, while simultaneously expanding power security on site. Swell's VPP program began operating earlier this year and is ramping up over the following year, providing immediate value to homeowners, small businesses and the grid.
“In SCE’s service area, our VPPs shift solar power consumption to peak demand periods en masse. By doing so, these programs provide the savings and energy security homeowners and businesses want, while increasing the local grid’s flexibility and resilience,” said Suleman Khan, CEO of Swell Energy. “Swell VPPs ensure homeowners receive the maximum value from their home battery, and that utility VPP sponsors and adopters benefit from a large fleet of strategically placed batteries. Our ongoing energy programs with SCE are great models for the future of our electric grid in general.”
Orange County VPP Program. This VPP project is part of SCE’s second Preferred Resources Pilot and will deliver energy to SCE customers during peak demand periods for the next fifteen years.
Santa Barbara County and Ventura County Program. Swell’s VPP program in Santa Barbara County and Ventura County was developed in response to Senate Bill 801, which directed SCE to deploy energy storage to help regions affected by the partial shutdown of the Aliso Canyon Natural Gas Storage Facility. The VPP will help the utility manage load, increasing reliability and replacing grid-stabilizing functions formerly provided by the gas facility. SCE awarded the VPP program as part of SCE’s Aliso Canyon Energy Storage procurement program.
These VPP programs for SCE customers represent two of six such distributed power plant contracts Swell is launching with utilities across various markets through its capital partnership fund. In all, Swell’s existing utility contracts will provide VPP energy services across 15,000 homes and small businesses in the United States.
To learn more about how Swell’s VPP programs and utility partnerships can help your region’s distinct energy needs, and how Santa Barbara and Ventura County residents and local businesses can support a carbon neutral future, visit www.swellenergy.com/805. Orange County residents can visit www.swellenergy.com/OC. To become a Certified Swell partner for the Orange County, Santa Barbara County and Ventura County programs, visit https://www.swellenergy.com/partners.
About Swell Energy Inc.
Swell Energy is creating a greater grid for the greater good. The energy management and smart grid solutions provider is accelerating the mass adoption of distributed clean energy technologies by making it easy for consumers to take control of their energy use, achieve energy security and save costs. The company provides homeowners and businesses with financing and educational resources and partners with trusted local solar and solar+storage companies for seamless, high-quality product installations. By creating a critical mass of dynamic and responsive clean energy resources within utility service areas across the United States, Swell Energy is also delivering resilient virtual power plant networks and grid-balancing services to utilities, which are fundamental to our future, carbon-free, distributed renewable energy system. Learn more at www.swellenergy.com.
Camille Cater
Antenna Group for Swell Energy
This email address is being protected from spambots. You need JavaScript enabled to view it.
551-225-1478
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#RNG--OPAL Fuels LLC, a market leader in developing and marketing renewable natural gas (RNG) fuel, hired energy finance industry veteran Ann Anthony as its Chief Financial Officer. She joins previous Fortistar Methane Group and TruStar Energy executives Scott Edelbach, Executive Vice President of Sustainable Transportation Fuels; Dave Unger, Executive Vice President of Sustainable Fuels Origination; and Anthony Falbo, Chief Operating Officer. Together with co-CEOs Jon Maurer and Adam Comora, these six executives have over 110 years combined industry experience.
“The complementary skills and experience of these industry leaders will serve as the key foundation to drive the substantial growth we are seeing at OPAL Fuels,” said Jonathan Maurer, co-CEO of OPAL. “More and more big truck fleets are converting to RNG to displace diesel as a transportation fuel with Scott Edelbach’s efforts. Under Dave Unger’s development leadership, we are six projects into our initial $500 million RNG supply program to put twelve facilities into operations. Our projects are being built and operated to the highest standards with Anthony Falbo’s long-term experience. We are thrilled to have Ann Anthony pull this all together with her significant industry finance skills.”
“Heavy-duty transportation uses over 55 billion gallons of diesel fuel each year, which OPAL recognizes as a massive opportunity to decarbonize,” said Ann Anthony, the new CFO of OPAL. “I’m excited to help provide the financial support to help OPAL execute the growth plan. With corporations and public policymakers looking for practical and economic solutions to reduce their carbon footprint. This is an exciting time to join the company focused on the solution.”
With more than 30 years of corporate finance experience, Ann Anthony has served in a range of positions from CFO to staff accountant. Most recently, Ann Anthony served as CFO for Key Capture Energy, LLC, a private equity-funded utility-scale battery energy storage company, where she oversaw all financial and human resource processes. Prior to that, she served as vice president, treasurer and corporate secretary for South Jersey Industries, Inc. (NYSE: SJI), a $2.5 billion public energy services holding company involving two regulated gas utilities, a wholesale trading and fuel marketing business and midstream investment, where she progressively increased her responsibilities over eleven years.
Scott Edelbach was a founder of TruStar Energy and has been a pioneer in alternative transportation fuels and alternative transportation fuel infrastructure for the heavy-duty trucking market. As Executive Vice President of Sustainable Transportation Fuels, Edelbach will continue to work with fleets in helping them transition from diesel to lower cost and cleaner alternatives. Scott will also focus on new alternative fuel offerings such as renewable hydrogen fueling stations.
In his over 20-year career at Waste Management, David Unger oversaw the development of 80 renewable energy facilities including generating and monetizing the associated environmental credits. In the last three years at Fortistar, Unger has developed four projects that are currently in construction and is developing a host of late stage RNG projects. Unger served as a major in the United States Army Reserve and brings a wealth of experience and stability to his critical role as Executive Vice President of Renewable Fuels Origination.
Anthony Falbo has served in the Fortistar renewable power group for 30 years. As COO, Falbo will oversee OPAL’s day-to-day operations of its expanding RNG construction, production, fueling and services portfolio, including its safety program. Over the years, Falbo has expanded the firm’s production portfolio to 40 landfill gas-to-energy facilities through developing projects and acquiring high-yield assets. Falbo’s vast technical, legal and commercial experience ranges from senior corporate management to operating nuclear reactors in the U.S. Navy Submarine Service.
About OPAL Fuels LLC
OPAL Fuels LLC, a Fortistar portfolio company, is an emerging leader in the production and distribution of renewable natural gas (RNG), a proven low carbon fuel with a decades-long track record of results that has the power to rapidly decarbonize the transportation industry. OPAL captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, low-cost alternative to diesel fuel. As a vertically integrated producer and distributor of RNG for heavy-duty truck fleets for over 20 years, OPAL delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL and how it is leading the effort to decarbonize North America's transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.
Caleigh Bourgeois
+1 513.675.7466
This email address is being protected from spambots. You need JavaScript enabled to view it.
ATHENS, Greece--(BUSINESS WIRE)--Danaos Corporation (“Danaos”) (NYSE: DAC) announced today that its Board of Directors (the “Board”) has approved a dividend reinvestment plan (the “plan”). The plan offers holders of Danaos common stock the opportunity to purchase additional shares by having their cash dividends automatically reinvested in Danaos common stock. Participation in the plan is optional, and stockholders who decide not to participate in the plan will receive cash dividends, as declared and paid. All dividends with respect to Danaos’s common stock are payable only when, as and if declared by the Board.
The following is a summary of the key attributes of the plan. The terms and conditions of the plan are set forth under the heading “Description of Plan” in the prospectus available as part of the registration statement filed by Danaos with the Securities and Exchange Commission (the “SEC”) on the SEC’s website, EDGAR (http://www.sec.gov). Stockholders should read the plan prospectus carefully before electing to participate in the plan or invest in Danaos common stock.
The plan will be administrated by American Stock Transfer & Trust Company, LLC (the “Administrator”), Danaos’s transfer agent. At Danaos’s discretion, the Administrator will make such purchases directly from Danaos, on the open market, through privately negotiated transactions or by a combination of the foregoing. Purchases directly from Danaos may be eligible for a discount of up to 5% from the otherwise applicable purchase price, but any such discount is to be determined by the Board, in its sole discretion, and may be changed or discontinued at any time without notice to plan participants. Danaos has instructed the Administrator that, until further notice, all purchases under the plan shall be made directly from Danaos at a discount of 3% to the Market Price (as defined in the plan).
Plan enrollment materials and information will be distributed to the Danaos’s stockholders of record. Record owners of Danaos common stock may participate in the plan by submitting a properly completed plan enrollment form to the Administrator. Beneficial owners of Danaos common stock may participate in the plan either by becoming a record owner in respect of the shares they would like to enroll in the plan and then submitting a properly completed enrollment form to the Administrator or by arranging for the broker, bank or other nominee that is the record owner in respect of such shares to participate in the plan on their behalf. If a plan enrollment form is received by the Administrator on or prior to the record date established for a particular dividend, reinvestment will commence with that dividend. Enrollment forms of stockholders who wish to participate in the plan for the dividend declared on May 10, 2021 must be received by the Administrator no later than May 27, 2021. For more information on how to enroll or any other inquiries, contact the Administrator by phone at (800) 278-4353 or via the Internet at www.astfinancial.com.
The offering is being made only by means of a prospectus. Danaos has filed a registration statement (including the prospectus) relating to the plan with the SEC. A copy of the registration statement (including the prospectus) is available electronically from EDGAR (http://www.sec.gov) and may also be obtained from the Administrator by phone at (800) 278-4353 or via the Internet at www.astfinancial.com.
This release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these 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.
About Danaos Corporation
Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Danaos’s current fleet of 65 containerships aggregating 403,793 TEUs, including five vessels owned by Gemini Shipholdings Corporation, a joint venture, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos’s fleet is chartered to many of the world’s largest liner companies on fixed-rate charters. Danaos’s long track record of success is predicated on Danaos’s efficient and rigorous operational standards and environmental controls. Danaos Corporation’s shares trade on the New York Stock Exchange under the symbol "DAC".
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements within the meaning of the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions. Although Danaos Corporation believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, Danaos Corporation cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the impact of the COVID-19 pandemic and efforts throughout the world to contain its spread, including effects on global economic activity, demand for seaborne transportation of containerized cargo, the ability and willingness of charterers to perform their obligations to us, charter rates for containerships, shipyards performing scrubber installations, drydocking and repairs, changing vessel crews and availability of financing; Danaos’s ability to achieve the expected benefits of its debt refinancing and comply with the terms of its new credit facilities; the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled dry-docking, changes in Danaos Corporation's operating expenses, including bunker prices, dry-docking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by Danaos Corporation with the U.S. Securities and Exchange Commission.
Company Contact:
Evangelos Chatzis
Chief Financial Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6480
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Iraklis Prokopakis
Senior Vice President & Chief Operating Officer
Danaos Corporation
Athens, Greece
Tel.: +30 210 419 6400
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations and Financial Media
Rose & Company
New York
Tel.: 212 359 2228
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Plan Administrator:
American Stock Transfer & Trust Company, LLC
6201 Fifteenth Avenue
Brooklyn, New York 11219
Tel.: 800 278 4353
DAVIDSON, N.C.--(BUSINESS WIRE)--Ingersoll Rand Inc. (NYSE:IR) (“Ingersoll Rand”) today announced the pricing of the previously announced underwritten secondary offering by KKR Renaissance Aggregator L.P. (the “Selling Stockholder”) of 14,924,081 shares of common stock of Ingersoll Rand pursuant to a registration statement filed by Ingersoll Rand with the U.S. Securities and Exchange Commission (the “SEC”), at the public offering price of $49.00 per share. No shares are being sold by Ingersoll Rand. The Selling Stockholder will receive all of the proceeds from this offering. The offering is expected to close on May 13, 2021, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Citigroup are acting as the underwriters for the offering.
A registration statement relating to these securities has been filed with the SEC and has become effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering of these securities will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316, email: This email address is being protected from spambots. You need JavaScript enabled to view it. and Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 800-831-9146.
Forward Looking Statements
This news release contains “forward-looking statements” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on Ingersoll Rand’s current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from these current expectations. Such risks and uncertainties, include, but are not limited to, the risks, uncertainties and factors set forth under the section entitled “Risk Factors” in its most recent annual report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in its periodic filings with the SEC.
Any forward-looking statements speak only as of the date of this release. Ingersoll Rand undertakes no obligation to update any forward-looking statements, whether as a result of new information or developments, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of these forward-looking statements.
About Ingersoll Rand Inc.
Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to helping make life better for our employees, customers and communities. Customers lean on us for our technology-driven excellence in mission-critical flow creation and industrial solutions across 40+ respected brands where our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity and efficiency. For more information, visit www.IRCO.com.
Media:
Misty Zelent
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Chris Miorin
This email address is being protected from spambots. You need JavaScript enabled to view it.
Li-Cycle awarded multi-year contract to recycle manufacturing scrap generated from Ultium Cells’ Lordstown, Ohio battery plant
TORONTO--(BUSINESS WIRE)--Li-Cycle Corp. (“Li-Cycle” or “the Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced an agreement with Ultium Cells LLC (“Ultium”), a joint venture of General Motors (“GM”) and LG Energy Solution (“LGES”), to recycle up to 100% of the scrap generated by battery cell manufacturing at Ultium’s Lordstown, Ohio battery cell plant. Li-Cycle will recover the raw materials contained in the scrap, transforming them into valuable products and helping contribute to the circular economy.
As North America’s electric vehicle (EV) production ramps up, Li-Cycle believes this recycling partnership will be an essential piece in closing the battery supply chain loop and enabling sustainable production of new EV batteries. When fully operational in 2022, the $2.3 billion Ultium Cells LLC plant in Lordstown will span three million-square-feet, with annual capacity of approximately 35 gigawatt hours. Li-Cycle will enable Ultium Cells LLC to expand the materials it currently recycles and will play a key role in recycling efforts similar to joint venture partner GM’s zero-waste initiative by rerouting battery manufacturing scrap back into the supply chain through this multi-year contract.
"We strive to make more with less waste and energy expended," said Thomas Gallagher, chief operating officer, Ultium Cells LLC. "This is a crucial step in improving the sustainability of our components and manufacturing processes."
"Our efforts with Ultium Cells LLC will be instrumental in redirecting battery manufacturing scrap from landfills and returning a substantial amount of valuable battery grade materials back into the battery supply chain," said Ajay Kochhar, Li-Cycle’s president, CEO, and co-founder. "This partnership is a critical step forward in advancing our proven lithium-ion resource recovery technology as a more sustainable alternative to mining."
Using Li-Cycle’s patented Spoke & Hub Technologies at facilities in the United States, Li-Cycle will transform Ultium’s battery manufacturing scrap into new battery-grade materials, including lithium carbonate, cobalt sulphate, and nickel sulphate, as well as other recycled materials that can be returned to the economy.
"GM's zero-waste initiative aims to divert more than 90 percent of its manufacturing waste from landfills and incineration globally by 2025," said Ken Morris, GM vice president of Electric and Autonomous Vehicles. "Now, we're going to work closely with Ultium Cells and Li-Cycle to help the industry get even better use out of the materials."
On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC) (“Peridot”). Upon the closing of the business combination, which is expected in the second quarter of 2021, the combined company will be named Li-Cycle Holdings Corp. (“Newco”). Li-Cycle intends to apply to list the common shares of the combined company on the New York Stock Exchange under the new ticker symbol, “LICY.”
About Li-Cycle
Li-Cycle is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
About Ultium Cells
Ultium Cells LLC, a joint venture between General Motors and LG Energy Solution, will mass-produce Ultium battery cells at its Lordstown, Ohio facility to advance the push for a zero-emission, all-electric future. GM and LG Energy Solution are investing $2.3 billion in the facility to support EV manufacturing in the United States, and in turn, local jobs, education, career training and infrastructure. The plant will equal the size of 30 football fields and will have annual capacity of over 30 gigawatt hours with room to expand. Job seekers interested in challenging and rewarding careers in battery cell manufacturing can apply for open positions on the Ultium Cells website.
About General Motors
General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, can be found at https://www.gm.com.
Additional Information and Where to Find It
In connection with the proposed business combination involving Li-Cycle and Peridot, Newco has prepared and filed with the SEC a registration statement on Form F-4 that will include a document that will serve as both a prospectus of Newco and a proxy statement of Peridot (the “Proxy Statement/Prospectus”). Li-Cycle, Peridot and Newco will prepare and file the Proxy Statement/Prospectus with the SEC and Peridot will mail the Proxy Statement/Prospectus to its shareholders and file other documents regarding the proposed transaction with the SEC. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents Peridot or Newco may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED BY PERIDOT OR NEWCO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus and other documents filed with the SEC by Peridot or Newco through the website maintained by the SEC at www.sec.gov.
Investors and securityholders will also be able to obtain free copies of the documents filed by Peridot and/or Newco with the SEC on Peridot’s website at www.peridotspac.com or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
PARTICIPANTS IN THE SOLICITATION
Li-Cycle, Peridot, Newco, and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, will be set forth in the Proxy Statement/Prospectus and other relevant materials when it is filed with the SEC. Information regarding the directors and executive officers of Peridot is contained in Peridot’s final prospectus for its initial public offering, filed with the SEC on September 24, 2020 and certain of its Current Reports filed on Form 8-K. These documents can be obtained free of charge from the sources indicated above.
NO OFFER OR SOLICITATION
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities of Peridot or Newco or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained in this communication may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21 of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction involving Li-Cycle and Peridot and the ability to consummate the proposed transaction. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely”, “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the proposed transaction with Peridot are not satisfied, including the failure to timely or at all obtain shareholder approval for the proposed transaction or the failure to timely or at all obtain any required regulatory clearances, including under the Hart-Scott Rodino Antitrust Improvements Act; (ii) uncertainties as to the timing of the consummation of the proposed transaction with Peridot and the ability of each of Li-Cycle and Peridot to consummate the proposed transaction; (iii) the possibility that other anticipated benefits of the proposed transaction with Peridot will not be realized, and the anticipated tax treatment of the combination; (iv) the possibility that anticipated benefits of Li-Cycle’s agreement with Ultium will not be realized; (v) the occurrence of any event that could give rise to termination of the proposed transaction with Peridot; (vi) the risk that stockholder litigation in connection with the proposed transaction with Peridot or other settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (vii) changes in general economic and/or industry specific conditions; (viii) possible disruptions from the proposed transaction with Peridot that could harm Li-Cycle’s business; (ix) the ability of Li-Cycle to retain, attract and hire key personnel; (x) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction with Peridot or Li-Cycle’s agreement with Ultium; (xi) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction with Peridot that could affect Li-Cycle’s financial performance; (xii) legislative, regulatory and economic developments; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in Peridot’s reports filed with the SEC, including Peridot’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Neither Li-Cycle nor Peridot can give any assurance that the conditions to the proposed transaction with Peridot will be satisfied. Except as required by applicable law, neither Li-Cycle nor Peridot undertakes any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations: This email address is being protected from spambots. You need JavaScript enabled to view it.
Press: This email address is being protected from spambots. You need JavaScript enabled to view it.
TORONTO--(BUSINESS WIRE)--$LGO #VRFB--Largo Resources Ltd. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) is pleased to announce that it has entered into an agreement for the strategic advisory services of Dr. Bart Riley and Dr. Jeffrey Chamberlain (the “Advisors”). The Advisors will provide advice to the Company’s board of directors (the “Board”) to accelerate the development of its Largo Clean Energy business.
Dr. Bart Riley:
Dr. Riley is a global leader with over 30 years of experience advancing new materials, launching disruptive products and building innovative companies in energy storage. Dr. Riley has a track record for solving complex technical and business problems to launch products in multiple verticals, including industrial equipment, consumer electronics, automotive, and grid services. Dr. Riley was a co-founder and Chief Technical Officer of A123 Systems from its startup through a $2 billion market cap as a publicly listed company. Dr. Riley was also the former Chief Development/Strategy Officer at Quantumscape from 2012 through 2016, an $18 billion U.S. based company that produces solid state lithium metal batteries for electric cars. More recently, Dr. Riley has provided strategic guidance to companies and non-profit organizations across various industries including energy storage, packaging, aerospace, and chemicals. Dr. Riley has a Ph.D. in Materials Science from Cornell University, 85 publications, and 62 U.S. patents.
Dr. Jeffrey Chamberlain:
Dr. Chamberlain is a proven leader with a long record of industrial product R&D and commercialization success in energy, integrated circuit, and water treatment technology for mining and mineral processing applications. Dr. Chamberlain’s industrial experience is complemented by his ten years’ of leadership of energy storage initiatives at Argonne National Laboratory. In collaboration with the U.S. Department of Energy, Dr. Chamberlain led the effort to successfully transfer advanced battery technology from Argonne to LG Chem, BASF, General Motors, Toda Kogyo, General Electric, and others. Dr. Chamberlain also led the team that was awarded $120 million from the U.S. Department of Energy to develop advanced energy storage technologies for transportation and the grid, through a U.S. consortium of innovators including MIT, Berkeley and Stanford. Dr. Chamberlain received his Ph.D. in the Physical Chemistry of Surfaces from the Georgia Institute of Technology.
Alberto Arias, Non-executive Chairman of Largo commented: “Both Dr. Chamberlain and Dr. Riley offer invaluable expertise as we continue our focus on becoming a leader in the fast-growing long-duration energy storage market.” He continued: “Their services also complement the recent appointment of Mr. Ian Robertson to Largo’s Board, which further supports the Company in unlocking the full potential of its clean energy storage business.”
About Largo Resources
Largo Resources is an industry preferred, vertically integrated vanadium company. It services multiple vanadium market applications through the supply of its unrivaled VPURE™ and VPURE+™ products, from one of the world’s highest-grade vanadium deposits at the Company’s Maracás Menchen Mine located in Brazil. Largo is also focused on the advancement of renewable energy storage solutions through its world-class VCHARGE± vanadium redox flow battery technology. The Company's common shares are listed on the Toronto Stock Exchange and on the Nasdaq Stock Market under the symbol "LGO".
For more information on Largo and VPURE™, please visit www.largoresources.com and www.largoVPURE.com.
For additional information on Largo Clean Energy, please visit www.largocleanenergy.com.
Forward-looking Information:
This press release contains forward-looking information under Canadian securities legislation, some of which may be considered "financial outlook" for the purposes of applicable Canadian securities legislation ("forward-looking statements"). Forward‐looking information in this press release includes, but is not limited to, statements with respect to the timing and amount of estimated future production and sales; costs of future activities and operations; the extent of capital and operating expenditures; the iron ore price environment; the timing and cost related to the build out of the ilmenite plant; eventual production from the ilmenite plant; the ability to sell ilmenite on a profitable basis and the extent and overall impact of the COVID-19 pandemic in Brazil and globally. Forward‐looking information in this press release also includes, but is not limited to, statements with respect to our ability to build, finance and operate a VRFB business, our ability to protect and develop our technology, our ability to maintain our IP, our ability to market and sell our VCHARGE± battery system on specification and at a competitive price, our ability to secure the required production resources to build our VCHARGE± battery system, and the adoption of VFRB technology generally in the market. Forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". All information contained in this news release, other than statements of current and historical fact, is forward looking information. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Largo or Largo Clean Energy to be materially different from those expressed or implied by such forward-looking statements, including but not limited to those risks described in the annual information form of Largo and in its public documents filed on www.sedar.com and www.sec.gov from time to time. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Although management of Largo has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Largo does not undertake to update any forward-looking statements, except in accordance with applicable securities laws. Readers should also review the risks and uncertainties sections of Largo's annual and interim MD&As which also apply.
Trademarks are owned by Largo Resources Ltd.
Investor Relations:
Alex Guthrie
Senior Manager, External Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1 416‐861‐9797
Media Enquiries:
Crystal Quast
Bullseye Corporate
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: +1 647-529-6364
Cloud-native application suite enables utilities and energy suppliers to transform their meter-to-cash processes and become their customers’ trusted energy advisors
SAN FRANCISCO--(BUSINESS WIRE)--#digitaltransformation--GridX, Inc. today announced it has launched its Business Operations Support (BOS) Cloud on Salesforce AppExchange, empowering utilities, Retail Energy Suppliers, Community Choice Aggregators and other energy suppliers to transition to clean energy and serve as their customers’ trusted energy advisors.
GridX’s BOS Cloud goes beyond traditional Customer Information Systems to equip utilities and other energy suppliers with a suite of turnkey solutions to transform their businesses into those based on clean, distributed energy resources. In addition to enhancing meter-to-cash processes, BOS Cloud helps these businesses to:
“In this unprecedented time of transition to clean energy, customers around the world are looking for actionable guidance from their energy suppliers. GridX’s BOS Cloud transforms what has historically been a transactional relationship to that of collaboration,” said Jian Zhang, Founder and CEO of GridX, Inc. “Developing our suite of applications on the Salesforce platform amplifies the impact of this transformation.”
“GridX’s BOS Cloud is a welcome addition to AppExchange, as it powers digital transformation for energy providers worldwide,” said Woodson Martin, GM of Salesforce AppExchange. “AppExchange is constantly evolving to enable our partners to build cutting-edge solutions to drive customer success.”
Built on the Salesforce Platform, GridX’s BOS Cloud is now available on AppExchange at http://appexchange.salesforce.com/appxListingDetail?listingId=a0N3A00000G0yN8UAJ
About Salesforce AppExchange
Salesforce AppExchange, the world’s leading enterprise cloud marketplace, empowers companies, developers and entrepreneurs to build, market and grow in entirely new ways. With more than 6,000 listings, 9 million customer installs and 98,000 peer reviews, AppExchange connects customers of all sizes and across industries to ready-to-install or customizable apps and Salesforce-certified consultants to solve any business challenge.
Additional Resources
Salesforce, AppExchange and others are among the trademarks of salesforce.com, inc.
About GridX, Inc.
GridX, Inc. partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Business Operations Support (BOS) Cloud application suite helps these organizations to develop new products and business models to achieve their clean energy goals; quickly operationalize new offerings in their billing and settlement processes; better engage with their customers for broader program adoption; and serve as their customers’ trusted energy advisors throughout the process. GridX’s BOS Cloud is used by leading utilities, Retail Energy Suppliers and Community Choice Aggregators to serve more than 17 million homes and businesses. For more information, visit gridx.com. GridX is the trademark of GridX, Inc.
Media Contact:
Kimberly Barnes
On behalf of GridX, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
(440) 506-2177
SAN RAMON, Calif. & NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Chevron Corporation (NYSE: CVX) announced today that its wholly-owned subsidiary Chevron U.S.A. Inc. (Chevron) is investing an additional $20 million in the Adopt-a-Port initiative with California renewable natural gas (RNG) provider Clean Energy Fuels Corp. (NASDAQ: CLNE). Chevron has now invested a total of $28 million in the initiative, which provides truck operators – large fleets and owner-operators – serving the ports of Los Angeles and Long Beach with cleaner, carbon-negative RNG to reduce emissions.
In addition to providing funding for Adopt-a-Port, Chevron supplies RNG to Clean Energy stations near the ports. Chevron’s funding will allow truck operators to subsidize the cost of buying new or converting to RNG-powered trucks. Clean Energy, meanwhile, will manage the program, including offering fueling services for qualified truck operators.
Truck operators participating in the program, which supports the ports’ Clean Trucks Program and Clean Air Action Plan, agree to fuel up at the Clean Energy stations supplied with Chevron RNG. Truck operators and their import and export customers are expected to reduce greenhouse gas emissions under California’s Low Carbon Fuel Standard program while also reducing smog-forming NOx emissions by up to 98 percent compared to diesel trucks, helping local communities.
“Extending our agreement with Clean Energy demonstrates the strength of our partnership in providing low carbon fuels to our customers,” said Andy Walz, Chevron president of Americas Fuels & Lubricants. “Along with other recent investments like Brightmark, CalBio, selling branded renewable diesel in San Diego County, and piloting hydrogen fueling stations and EV charging stations, Adopt-a-Port shows Chevron’s commitment to increasing renewables in support of our business in order to provide affordable, reliable and ever-cleaner energy to the market.”
“Chevron’s increased commitment to this project will allow us to extend favorable funding to smaller, independent operators, which means cleaner, RNG-fueled trucks operating in the ports,” said Greg Roche, Clean Energy vice president of Sustainability. “The resulting positive environmental impact will help to reduce local air pollution while also eliminating climate pollutants.”
“Harbor Trucking Association applauds the Adopt-a-Port partnership between Chevron and Clean Energy. This program supports our mission of helping members improve their environmental sustainability at the Ports of Long Beach and LA while doing so with economics that make sense for their businesses,” said Weston LaBar, CEO of the Harbor Trucking Association, the leading membership association representing the interests of the drayage trucking community.
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. More information about Chevron is available at www.chevron.com.
About Clean Energy
Clean Energy Fuels Corp. is the country’s leading provider of the cleanest fuel for the transportation market. Through its sales of renewable natural gas (RNG), which is derived from biogenic methane produced by the breakdown of organic waste, Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas from 60% to over 400% depending on the source of the RNG, according to the California Air Resources Board. Clean Energy can deliver RNG through compressed natural gas (CNG) and liquefied natural gas (LNG) to its network of fueling stations across the U.S. Clean Energy builds CNG and LNG fueling stations for the transportation market, operates a network of 565 stations across the U.S. and Canada, owns natural gas liquefaction facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S. For more information, visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
NOTICE
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about the Adopt-a-Port initiative and the benefits of RNG. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for our products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions; changing refining, marketing and chemicals margins; the company’s ability to realize anticipated cost savings, expenditure reductions and efficiencies associated with enterprise transformation initiatives; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; technological developments; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during extended periods of low prices for crude oil and natural gas during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company's ability to achieve the anticipated benefits from the acquisition of Noble Energy, Inc.; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, industry-specific taxes, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to pay future dividends; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 18 through 23 of the company's 2020 Annual Report on Form 10-K and in other subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Chevron media contact:
Tyler Kruzich
This email address is being protected from spambots. You need JavaScript enabled to view it.
925-549-8686
Clean Energy media contact:
Raleigh Gerber
This email address is being protected from spambots. You need JavaScript enabled to view it.
949-437-1397
Clean Energy contact for truck operators:
Greg Roche
This email address is being protected from spambots. You need JavaScript enabled to view it.
949-437-8119
New Industrial-Networking Solution Delivers Versatile Device and Greater Value
HOPKINS, Minn.--(BUSINESS WIRE)--Digi International (NASDAQ: DGII, www.digi.com), a leading global provider of Internet of Things (IoT) connectivity products and services, today unveiled the newest addition to its line of industrial-grade routers with the introduction of Digi IX15, the only fully functional industrial cellular gateway with Zigbee support. Serving as both a gateway and router, Digi IX15 delivers greater value by giving companies a complete, cost-effective IoT solution.
Digi IX15 works seamlessly with Digi Remote Manager® for efficient configuration, deployment, monitoring, and management of thousands of mission critical devices and assets from a single desktop, tablet or smartphone. Digi IX15 brings greater power to the company’s acclaimed Digi XBee® ecosystem, including modules, code libraries, and the award-winning Digi XBee Tools suite. Digi IX15 is equipped with the latest Python programming implementation to bring greater reliability, simplicity, and security to edge computing and simplify all phases of the product development lifecycle.
In today’s fast-paced market, competitive advantage relies on rapid development and deployment. Digi IX15 accelerates time-to-market for industrial customers seeking lower-cost alternatives to DIY gateway designs for networking operations. One of the few IoT gateways on the market certified for C1D2 deployments, the rugged Digi IX15 is designed for the harsh conditions commonly found in industries such as oil and gas, water/wastewater, energy, and agriculture.
“We are always expanding and improving our WAN solutions,” said Steve Ericson, Vice President and General Manager at Digi. “Every new innovation demonstrates how we aim to constantly listen to our customers and respond with industry-leading network solutions. We understand companies must focus on developing their own unique, value-add offering instead of needlessly spending time, money, and resources creating their own connectivity solutions. Digi’s breakthrough IX15, with XBee gateway and IX router capabilities, manageable via Digi Remote Manager, delivers the competitive edge they require.”
The Digi IX15 industrial gateway and router will be available through global distribution partners on May 11, 2021.
Learn more about Digi here.
About Digi International
Digi International (NASDAQ: DGII) is a leading global provider of IoT connectivity products, services and solutions. We help our customers create next-generation connected products and deploy and manage critical communications infrastructures in demanding environments with high levels of security and reliability. Founded in 1985, we’ve helped our customers connect over 100 million things and growing. For more information, visit Digi's website at www.digi.com.
Media Contact:
Peter Ramsay
Global Results Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
949.307.5908
SOUTHFIELD, Mich.--(BUSINESS WIRE)--#electricvehicles--Power management company Eaton today announced its eMobility business has been awarded a contract to supply a 24-to-12-volt DC-DC converter for use in a commercial heavy-duty battery electric vehicle (BEV) that will power accessories, such as antilock brakes and lighting. The BEV will be sold in the North American and China markets beginning later this year.
“DC-DC converters are an essential part of our eMobility product portfolio and are used in a variety of vehicle applications,” said Pratik Trivedi, general manager, Eaton’s eMobility business. “Like traditional vehicles, electrified vehicles (EVs) have low-voltage loads on board-like infotainment systems, GPS and safety devices. So efficiently converting power from high to low is key, but it is also important to have a secondary converter to provide power to the traditional 12-volt loads. We’re delighted to bring our proven power-conversion technology to this new, innovative electric-truck platform.”
Eaton’s specialty converter, also known as a battery equalizer, works in conjunction with another converter that takes power from the BEV’s 600-volt system and steps it down to 24 volts. The eMobility unit then takes it down to 12 volts for use in low-voltage systems and to power a backup 12-volt battery in case of a fault in the main power supply. Having this equalizer function, the 12-volt battery and a split 24-volt battery system ensures essential safety equipment can operate on 12 volts in the event of a power failure. That capability makes the converter unique among product offerings in this space.
Eaton’s DC-DC converter also includes noise reduction and interference rejection so there is no interference between the unit and vehicle electronics.
“The converter is rugged and robust, providing a seal against environmental factors, such as salt spray and water, and has high vibration resiliency,” said Trivedi. “It is an ideal solution for manufacturers that require a dependable method to power traditional vehicle components in high-power battery electric vehicles.”
Eaton’s eMobility business was formed by combining products, expertise and global manufacturing capabilities from Eaton’s Electrical and Vehicle Groups. The eMobility product portfolio includes intelligent power electronics, reliable power distribution and protection solutions, and efficient power system electrification solutions for passenger car, commercial vehicle and off-highway customers. Learn more about Eaton’s eMobility business at Eaton.com/eMobility.
Eaton’s mission is to improve the quality of life and the environment through the use of power management technologies and services. We provide sustainable solutions that help our customers effectively manage electrical, hydraulic, and mechanical power – more safely, more efficiently, and more reliably. Eaton’s 2020 revenues were $17.9 billion, and we sell products to customers in more than 175 countries. We have approximately 92,000 employees. For more information, visit www.eaton.com.
Thomas Nellenbach
This email address is being protected from spambots. You need JavaScript enabled to view it.
(216) 333-2876 (cell)
LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America, Inc. (Nasdaq: MPAA) today announced its wholly owned subsidiary D&V Electronics recently received two orders valued at more than $2 million for advanced power hardware-in-the-loop testbed (p-HIL) and inverter test systems from global electric vehicle manufacturers in China and Europe. Additional terms were not disclosed.
“These orders continue a series of meaningful wins with major automotive and transportation companies that are focused on vehicle and aviation electrification. We are excited to further our successful relationships in this space and appreciate the confidence in our power hardware-in-the-loop technology represented by these orders. We look forward to future opportunities to demonstrate our cutting-edge capabilities, expand partnerships and work with global transportation leaders,” said Selwyn Joffe, chairman, president and chief executive officer.
The p-HIL test systems will be used in the design and performance validation process for development of electric vehicle drivetrain components by customers in China and Europe. The test systems include real-time simulation and modeling from Opal-RT to electronically emulate high-speed, high-power electric motors and high-voltage battery packs for drivetrain component testing.
“We have made significant strides in the integration of our innovative emulator technology with Opal-RT’s leading edge real-time simulation and modeling capability to offer the most advanced and flexible test solutions for companies leading the vehicle electrification movement. Not only are we integral in the development of green transport solutions, but we also minimize environmental impact by providing the most efficient test capability in the market today,” said David Eddy, general manager of D&V Electronics USA.
ABOUT D&V ELECTRONICS
Founded in 1997 and acquired by Motorcar Parts of America in 2017, the electrical vehicle testing subsidiary, with customers in more than 80 countries, designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.dvelectronics.com.
ABOUT MOTORCAR PARTS OF AMERICA
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. Additional information is available at www.motorcarparts.com.
About OPAL-RT TECHNOLOGIES
Established in 1997, OPAL-RT TECHNOLOGIES develops, and markets high-performance real-time simulators used by universities, research centers and large corporations working in the automotive, aerospace, power electronics and power grid industries. Over the years, OPAL-RT has taken its place as a world leader in real-time simulation of electromagnetic systems by providing powerful simulation systems that allow users to develop or test their products or designs in a safe environment. OPAL-RT has offices in France, Germany, India, China, and the United States. Additional information is available at www.opal-rt.com
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2020 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
Gary S. Maier
(310) 972-5124
Accessible data drives insight for commercial, civic, governmental projects in difficult, emerging region
SAN FRANCISCO & RESTON, Va.--(BUSINESS WIRE)--As new trade routes begin to emerge and competition intensifies in the Arctic, Spire is providing data to inform decisions on critical issues around climate change, navigation, and transportation within the region through its comprehensive data and weather forecasting services.
Research shows that Arctic warming is resulting in shrinking sea ice and changing ocean circulation and weather patterns. These changes are creating new issues that affect governments and businesses in the region and globally.
Spire’s earth intelligence capabilities can help support the study and understanding of various key indicators of climate change and its impacts in the Arctic and Antarctic regions. Specifically, Spire is able to provide radio occultation (RO) data in the polar regions, collecting measurements down to the surface due to the low humidity in the regions and Spire’s broad-scale satellite coverage. This set of near surface temperature measurements enhances Arctic and Antarctic weather forecasts, which Spire believes allows for a more comprehensive understanding of the regions than could be traditionally achieved by non-space based measurements.
Spire’s global weather forecast platform offers data on wind, wave height, and maritime waves, and within the polar regions, Spire measures the extent, classification, and age of sea ice, and can distinguish sea ice from open water. This enables Spire to map sea ice coverage and delineate the marginal ice zone (MIZ), a transitional region between open sea and dense drift ice. This information can be used to inform navigation plans that avoid sea ice, which Spire expects may become increasingly important as governments and companies in the private sector begin to consider the Arctic as a more viable transit route.
Spire also provides near real-time vessel tracking capabilities in the Arctic through satellite, terrestrial, and Dynamic™ AIS data. In addition to collecting AIS signals from over 200,000 vessels around the Earth, Spire maintains extensive coverage in high traffic zones (HTZs) such as the North Sea. Spire’s solution adds dynamically moving AIS receiving stations on vessels throughout all major sea routes and HTZ areas, collecting an additional total volume of 10M AIS messages per day. Through its combination of global vessel tracking data, satellite observations of sea ice, plus weather forecasts of temperature, wind, and other ocean variables, Spire seeks to provide an all-in-one Arctic intelligence solution that gives operators in the Arctic confidence and clarity in this remote area and in uncertain conditions.
“The Arctic is a critically important region for the global economy, but it’s traditionally difficult to observe and track developments there,” said Keith E. Johnson, Vice President and General Manager, Government Solutions. “Spire is making intelligence in the Arctic region more accessible, providing operators in the area with the data they need to make informed decisions.”
About Spire Global, Inc.
Spire is a global provider of space-based data and analytics that offers unique datasets and powerful insights about Earth from the ultimate vantage point so organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, CA, Boulder, CO, Washington DC, Glasgow, Luxembourg, and Singapore. On March 1, 2021, Spire announced plans to go public through an anticipated business combination with NavSight Holdings, Inc. (NYSE: NSH), to be traded on the NYSE under the ticker symbol “SPIR.” To learn more, visit spire.com.
About NavSight Holdings, Inc.
NavSight Holdings, Inc. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. NavSight was organized with the opportunity to pursue a business combination target in any business or industry, with the intent to focus its search on identifying a prospective target business that provides expertise and technology to U.S. government customers in support of their national security, intelligence and defense missions.
Additional Information and Where to Find It
In connection with the planned business combination with Spire (the “Proposed Transaction”), NavSight intends to file a Form S-4 Registration Statement (the “Registration Statement”) with the SEC, which will include a preliminary proxy statement to be distributed to holders of NavSight’s common stock in connection with NavSight’s solicitation of proxies for the vote by NavSight’s stockholders with respect to the Proposed Transaction and other matters as described in the Registration Statement, a prospectus relating to the offer of the securities to be issued to the Company’s stockholders in connection with the Proposed Transaction, and an information statement to Company’s stockholders regarding the Proposed Transaction. After the Registration Statement has been filed and declared effective, NavSight will mail a definitive proxy statement/prospectus, when available, to its stockholders. Investors and security holders and other interested parties are urged to read the proxy statement/prospectus, any amendments thereto and any other documents filed with the SEC carefully and in their entirety when they become available because they will contain important information about NavSight, the Company and the Proposed Transaction. Investors and security holders may obtain free copies of the preliminary proxy statement/prospectus and definitive proxy statement/prospectus (when available) and other documents filed with the SEC by NavSight through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: NavSight Holdings, Inc., 12020 Sunrise Valley Drive, Suite 100, Reston, VA 20191.
Participants in Solicitation
NavSight and the Company and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transaction. Information about the directors and executive officers of NavSight is set forth in its Form 10-K filed on March 29, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Registration Statement and other relevant materials to be filed with the SEC regarding the Proposed Transaction when they become available. Stockholders, potential investors and other interested persons should read the Registration Statement carefully when it becomes available before making any voting or investment decisions. When available, these documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.
Forward-Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of the federal securities laws with respect to the Proposed Transaction. 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 expectations of accelerating Spire’s sales and marketing efforts, expectations of product development across Spire’s weather segment and the applicability of such products to Spire’s market, the strengthening of Spire’s competitive advantage, the importance of weather forecasting to Spire’s target markets, the increasing need for weather data in the Arctic and resulting expansion in use of Spire’s weather forecasting capabilities in the Arctic, the superiority of space-based data observation to other sources of data observation in the Arctic and Antarctic, customer demand for Spire’s services in the Arctic and Antarctic, the expansion of Spire’s business to new regions and markets, Spire’s future growth, estimates and forecasts of financial and performance metrics, expectations of achieving and maintaining profitability, projections of total addressable markets, market opportunity and market share, net proceeds from the Proposed Transactions, potential benefits of the Proposed Transaction and the potential success of the Company’s market and growth strategies, and expectations related to the terms and timing of the Proposed Transaction. These statements are based on various assumptions and on the current expectations of NavSight’s and the Company’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 NavSight and the Company. These forward-looking statements are subject to a number of risks and uncertainties, including (i) the risk that the Proposed Transaction may not be completed in a timely manner or at all, which may adversely affect the price of NavSight's securities; (ii) the risk that the Proposed Transaction may not be completed by NavSight's business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by NavSight; (iii) the failure to satisfy the conditions to the consummation of the Proposed Transaction, including the approval of the Proposed Transaction by the stockholders of NavSight, the satisfaction of the minimum trust account amount following any redemptions by NavSight's public stockholders and the receipt of certain governmental and regulatory approvals; (iv) the inability to complete the PIPE investment in connection with the Proposed Transaction; (v) the failure to realize the anticipated benefits of the Proposed Transaction; (vi) the effect of the announcement or pendency of the Proposed Transaction on Spire’s business relationships, performance, and business generally; (vii) risks that the Proposed Transaction disrupts current plans of Spire and potential difficulties in Spire employee retention as a result of the Proposed Transaction; (viii) the outcome of any legal proceedings that may be instituted against NavSight or Spire related to the business combination agreement or the Proposed Transaction; (ix) the ability to maintain the listing of NavSight’s securities on the New York Stock Exchange; (x) the ability to address the market opportunity for Space-as-a-Service; (xi) the risk that the Proposed Transaction may not generate expected net proceeds to the combined company; (xii) the ability to implement business plans, forecasts, and other expectations after the completion of the Proposed Transaction, and identify and realize additional opportunities; (xiii) the occurrence of any event, change or other circumstance that could give rise to the termination of the business combination agreement; (xiv) the risk of downturns, new entrants and a changing regulatory landscape in the highly competitive space data analytics industry; and those factors discussed in NavSight’s final prospectus filed on September 11, 2020 under the heading “Risk Factors,” and other documents of NavSight filed, or to be filed, with the SEC. If any of these risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither NavSight nor the Company presently know or that NavSight and the Company 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 NavSight’s and the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. NavSight and the Company anticipate that subsequent events and developments will cause NavSight’s and the Company’s assessments to change. However, while NavSight and the Company may elect to update these forward-looking statements at some point in the future, NavSight and the Company specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing NavSight’s and the Company’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.
For Spire Global, Inc.:
Investor Contact:
Michael Bowen and Ryan Gardella
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Phil Denning
This email address is being protected from spambots. You need JavaScript enabled to view it.
For NavSight Holdings, Inc.:
Investor Contact:
Jack Pearlstein
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--ORIX Corporation USA (ORIX USA) announced today the completion of an equity investment in BC Organics Anaerobic Digestion Facility (BCO), a commercial biorefinery that processes dairy manure into renewable natural gas (RNG), a concentrated nutrient stream, dried fiber and clean water. BCO, located in Brown County, Wisconsin, is owned by Dynamic Expansion LLC and was developed by Dynamic Concepts, LLC, a leading developer and operator of biofuel projects in the United States. Once fully operational, BCO will be one of the largest dairy manure to RNG projects in the United States, and is expected to process more than 360 million gallons of manure per year.
BCO’s facility will produce usable RNG while helping reduce phosphorous and nitrates that may impact local water sources, and improve air quality by reducing greenhouse gas emissions. The facility will serve multiple local dairy producers and is expected to remove 650,000 MMBtu of methane from the environment every year.
"ORIX is active in renewable energy globally with a track record of strategic investments in solar, wind and biofuel projects. With this transaction, we are now leveraging the expertise of our global renewables platform and increasing investment in the biofuel sector in this region as well,” said Neil Winward, Head of Strategic Solutions at ORIX USA. “Biofuel projects are a great fit with our middle market focus and provide a range of opportunities to participate as a tax-equity, cash equity and mezzanine investor.”
This transaction follows ORIX Corporation’s investment in global renewable energy company Elawan Energy S.L. (subject to regulatory approvals), as well as a previous acquisition of a stake in India-based renewable energy company Greenko Energy Holdings. ORIX Corporation is committed to being a global renewable energy operator and to contributing to sustainability through its business activities.
ORIX USA was assisted by GoldenSet Asset Management, LLC, an affiliate of GoldenSet Capital Partners, LLC. Terms of the transaction were not disclosed.
About ORIX USA:
Since 1981, ORIX USA has provided innovative capital solutions that clients need to propel their business to the next level. With a focus on merchant banking, commercial finance, and asset management, ORIX USA and its subsidiaries include a team of more than 1,300 employees spanning more than 50 offices across the U.S. and Brazil. ORIX USA and its family of companies have $87 billion of assets under management, administration, and servicing (including $10 billion held by the Company and its subsidiaries), as of December 2020. Its parent company, ORIX Corporation, is a publicly owned international financial services company with operations in 37 countries and regions worldwide. ORIX Corporation is listed on the Tokyo Stock Exchange (8591) and New York Stock Exchange (IX). For more information, visit orix.com.
About GoldenSet Capital Partners:
GoldenSet Capital is focused on providing project equity and structured capital to companies and projects in the sustainable infrastructure sector. Together the GoldenSet team has developed, constructed, and financed more than 50 distributed solar and wind projects, with additional experience investing in cogeneration, biomass generation, renewable fuels, waste derived fuels and energy storage. For more information, visit http://www.goldensetcapital.com.
About Dynamic:
Dynamic was founded in 2011 and is a full-service company that provides leading edge waste recovery solutions for both the Agricultural and Food Processing Industries. Three of its founding owners are involved with the daily operations of the business. They are the driving force of the company by integrating Dynamic's technology and design into the following areas: landfill diversion, anaerobic digestion, nutrient concentration, and water treatment. Dynamic adds a unique value in the field by being experienced, and knowledgeable in the finance, design, development, operation, and management of customized world-class infrastructure assets. These turnkey renewable energy and clean water solutions dispose of organic waste to impact the economy in environmentally friendly ways.
Media Contact:
ORIX Corporation USA
Rohini Pragasam, Head of Communications & Marketing
This email address is being protected from spambots. You need JavaScript enabled to view it.
Proven sustainability leader and industry veteran Jenny Whitson will spearhead IQHQ’s overall sustainability goals and Environmental, Social and Governance (ESG) program
SAN DIEGO--(BUSINESS WIRE)--IQHQ, Inc., a premier life sciences real estate development company, today announced that Jenny Whitson has joined the company in its newly-created role of Director of Sustainability and ESG. Whitson brings more than 15 years of experience developing corporate-wide sustainability programs. Whitson will manage the overall mission, strategy and execution of IQHQ’s sustainability and ESG program with the goal to achieve net-zero emissions across the company’s 5.5 million square feet of premier, state-of-the art life science developments in Boston, San Francisco and San Diego.
“Jenny Whitson is a true pioneer when it comes to sustainability and ESG, and it is a privilege to welcome her to our growing team,” said Stephen A. Rosetta, Chief Executive Officer of IQHQ. “We are confident that she will advance our company’s commitment to sustainability leading to well-managed, highly-efficient properties that enhance the societal and environmental elements of our portfolio and company, while maximizing returns to our various stakeholders.”
In her new role, Whitson will develop a plan to meet IQHQ’s sustainability goals and target of achieving carbon neutrality across the company’s growing portfolio of premier life science properties. To meet these goals, Whitson will work closely with CodeGreen, which is a leading national sustainability and energy efficiency consulting firm that IQHQ retained last year to track energy, water, waste, and carbon emissions across all of the company’s properties. As she implements IQHQ’s overall ESG strategy, she will work across the business functions of the entire company related to design, construction, facility operations, procurement, and corporate operations.
“IQHQ's vision to build premier sustainable buildings across its growing portfolio makes it one of the most dynamic life science commercial real estate developers in the industry,” said Whitson. “I’m proud to be joining a leadership team with such a strong commitment to ESG, and I look forward to working with them to operationalize the practice across the company.”
Whitson comes to IQHQ from Vanir Construction Management, Inc., one of the nation’s leading, privately-held full-service program, project, and construction management firms. At Vanir, she served as the company’s corporate-wide Sustainability Manager for public and private sector clients, providing sustainability certification, compliance, and renewable energy consulting for commercial building owners. Whitson also served in prominent sustainability roles with Parsons, Gensler and SDA Architects & Designers, and she holds multiple LEED AP Credentials and is an active Board Member for the Los Angeles chapter of the U.S. Green Building Council.
About IQHQ
IQHQ is giving progress a home, empowering the life science community to thrive and succeed by creating and developing environments that inspire innovation and drive progress and growth. IQHQ’s focus is to acquire, develop and operate life science properties in the innovation hubs of San Francisco, San Diego and Boston in the United States, and the Golden Triangle in the United Kingdom. IQHQ has offices in San Diego and Boston. To learn more, visit www.iqhqreit.com or follow us on LinkedIn or Instagram.
For IQHQ
Dom Slowey
781-710-0014
This email address is being protected from spambots. You need JavaScript enabled to view it.
Travis Small
617-538-9041
This email address is being protected from spambots. You need JavaScript enabled to view it.
ORLANDO, Fla.--(BUSINESS WIRE)--#cybersecurity--Siemens Energy today announced a collaboration with ServiceNow to create a unified software service offering enabling energy companies to monitor, detect and respond to cyber threats targeting digitally connected critical infrastructure.
The new solution brings together Siemens Energy’s artificial intelligence (AI)-based software from its Managed Detection and Response (MDR), powered by Eos.iiTM, service to provide visibility and context across industrial operating environments with ServiceNow’s Operational Technology Management (OT Management) systems to connect cyber threats and digital workflows that allow analysts to quickly assess, prioritize and act against events in the field. The unified software solution creates a detection engine and workflows that streamline operations for cybersecurity analysts to monitor anomalous or malicious behavior in Security Operations Centers (SOC), and energy plant operators to act on credible threat intelligence at machine speed.
“Most energy companies struggle with the complex technological and economic challenges involved in monitoring, detecting and preventing cyberattacks on critical infrastructure. Our MDR, powered by Eos.ii, solution, is the first AI-based platform built to provide visibility and context across the energy industry’s digital operating environment in time to stop attacks,” said Leo Simonovich, head of Industrial Cybersecurity at Siemens Energy. “Leveraging Eos.ii’s monitoring and detection software with ServiceNow’s digital workflows will help turn cyber threat intelligence into action so plant operators can respond to incidents with precision defense at machine speed.”
"The ability to quickly turn data into action is critical to being able to proactively, reactively and remotely mitigate cyberattacks targeting critical infrastructure. Yet, this is one of the biggest challenges for industrial innovation,” said Marshall Tyler, vice president of Industry Solutions at ServiceNow. “Siemens Energy is a leader in this space and together we are arming the energy industry with the insights and workflows they need to deliver critical services and protect their customers and stakeholders."
While the energy transition has introduced new levels of cyber risk — exposing flaws in existing vulnerability management and security response strategies — most companies continue to invest in business models and technologies that rely on the seamless integration of physical and digital assets.
Leveraging Siemens Energy’s Eos.ii software, energy companies can turn cyber threat intelligence targeting operational technology (OT) and information technology (IT) networks — connected to physical energy assets — into an actionable response through the ServiceNow OT Management product. This enables plant operators to act with Precision Defense, a response method to deploy appropriate, targeted and proportionate measures to correct and recover from cyber incidents. Responding to cyber threats with Precision Defense allows energy plant operators to improve efficiency and reduce operating costs while responding to incidents with little to no downtime for critical systems.
Siemens Energy’s MDR system provides a unified picture of anomalous behavior for defenders with actionable insights to stop attacks. The service goes beyond conventional monitoring by achieving a deeper understanding of how digital systems relate to the real world. With its unified OT and IT data stream, MDR’s Eos.ii technology platform uses AI and digital twin technology to compare billions of real-time data points against a correctly functioning asset. This provides context for Siemens Energy’s analysts to determine not only which events are abnormal, but which are consequential. The technical achievement of unified data streams and machine learning make an unprecedented platform for targeted, in-depth analysis.
Stacia Licona
Phone: +1 281-721-3402
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Fund exceeds target and has completed two platform investments out of Fund III
NEW YORK--(BUSINESS WIRE)--Orion Energy Partners (“Orion”), a provider of credit and equity capital solutions supporting infrastructure investments in energy transition and environmental innovation, announced today the final close of Orion Energy Credit Opportunities Fund III (“Fund III”). Through an oversubscribed offering exceeding the initial target of $900 million, Orion received $1.079 billion in capital commitments from investors across six continents. Orion’s Fund III will continue to address growing capital dislocation for middle market infrastructure credit with an emphasis on flexible direct lending into private and public companies seeking to scale both traditional and new infrastructure solutions.
“We fully recognize that there are several other energy transition focused funds in the marketplace, but there are few focused on the infrastructure side of innovation driven by entrepreneur-owned private middle market businesses, and even fewer built on a team with a two decade history of investing together to drive long-term results and sustainability,” said Nazar Massouh, CEO and Co-Managing Partner. “The foundation of Orion’s success is our hand-picked, diverse, experienced, and extremely committed team, but we could not have achieved our success without the continued loyalty and tremendous support from our returning investors and the vote of confidence from our new limited partners. Our team’s growth and support from Fund II investors speak highly of the robust market opportunity targeted by our investment strategy.”
With firmwide assets under management of more than $2.5 billion, Fund III’s total capital commitments represent a 32% increase in size from Orion Energy Credit Opportunities Fund II. Since 2015, Orion has closed 18 investment partnerships, deploying creative financing structures, and driving environmental innovation across a very diverse range of private infrastructure companies.
Building on the success of its legacy funds, Fund III will target investments between $40 and $200 million per transaction into environmentally innovative infrastructure sectors such as Renewable Fuels, Energy Efficiency, Sustainable Power Generation, Waste (resource recovery, recycling), Water, Transportation Infrastructure, and Digital Infrastructure. The team will continue to scout for companies across North America as potential partners, with approximately 10% of Fund III already committed across two platform investments: Bakersfield Renewable Fuels, a renewable diesel bio-refinery and wholly owned subsidiary of Global Clean Energy Holdings, and Highland Pellets, a producer of sustainably sourced biomass pellets supplying industrial and power markets in Europe with a replacement fuel for thermal coal.
“Rapid development of sustainable infrastructure has taken on increased urgency,” said Gerrit Nicholas, CIO and Co-Managing Partner of Orion. “Many private infrastructure companies have relied on traditional lenders to fuel growth, but today businesses driving change in energy, water, waste, transportation, and digital infrastructure require capital solutions as innovative as their assets. From our successful scorecard in Fund II and relying on over 30 years of investing experience, we know there is tremendous opportunity to provide efficient, creative, and non-dilutive financing solutions to businesses seeking true capital partnerships in the transition to a sustainable, decarbonized economy.”
Asante Capital acted as exclusive global placement agent, and Latham & Watkins LLP served as legal counsel to Orion.
About Orion Energy Partners
Based in New York and Houston, Orion is a leading private credit and equity capital partner supporting middle market infrastructure and related companies focused on energy transition and environmental innovation, with firmwide assets under management of more than $2.5 billion. We provide a range of creative financing solutions as an alternative to equity investment and traditional loans. Our target investment sectors include energy efficiency, digital infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation and midstream. Orion manages long-term, committed capital across multiple investment funds, allowing Orion’s team to forge transformational relationships across a diverse group of companies and to be patient and supportive as these organizations execute on their business plans. For more information, please visit www.OrionEnergyPartners.com
Bethany Gorham
+1 (212) 292-0968
This email address is being protected from spambots. You need JavaScript enabled to view it.
SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced that its Board of Directors has unanimously elected President and Chief Executive Officer Wahid Nawabi to succeed Tim Conver as chairman upon Mr. Conver’s planned retirement from the Board of Directors, effective at the company’s 2021 annual meeting of shareholders. Mr. Nawabi joined AeroVironment in 2011 and assumed the role of president and chief executive officer in May 2016.
Tim Conver has served as a member of the AeroVironment Board of Directors since 1988 and assumed the role of president in 1991, then chief executive officer in 1992. Mr. Conver was elected chairman of AeroVironment’s Board of Directors in 2007, upon the retirement of founder Dr. Paul MacCready, Jr. During his tenure, Mr. Conver led AeroVironment’s transformation into a global leader in unmanned aircraft systems (UAS), tactical missile systems (TMS) and high-altitude, pseudo-satellites (HAPS), leading the company’s initial public offering in 2007 and growing annual revenue from $10 million to $264 million in fiscal year 2016.
“As part of our commitment to strong corporate governance, the AeroVironment Board of Directors maintains an ongoing and deliberate process for managing succession,” said Arnold Fishman, lead independent director. “Tim Conver has served AeroVironment as a visionary leader and a disciplined Chairman of the Board whose contributions have molded the company into the recognized leader in our industry. Wahid’s track record of effective leadership and demonstrated results as chief executive officer, which include three consecutive years of profitable, double-digit revenue growth, are fundamental to the Board’s decision to elect Wahid as the next Chairman. We are excited to welcome Wahid to this new role as part of our planned succession process.”
“On behalf of AeroVironment’s Board of Directors, I thank Tim for his vision, determination and guidance,” said Wahid Nawabi. “Tim helped cultivate a unique company culture focused both on defining the future in our markets and allowing us to deliver uniquely valuable solutions that help our customers and employees Proceed with Certainty. Tim’s leadership and mentorship have resulted in countless American and allied lives saved as a result of our innovative UAS and TMS solutions.”
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Media:
Makayla Thomas
AeroVironment, Inc.
+1 (805) 520-8350
This email address is being protected from spambots. You need JavaScript enabled to view it.
Mark Boyer
For AeroVironment, Inc.
+1 (213) 247-4109
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Steven Gitlin
+1 (805) 520-8350
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.