DUBLIN--(BUSINESS WIRE)--The "Global Long-Term LNG Contracts Review, 2020 - Kosmos Energy Signs Largest LNG Supply Contract with BP Plc" report has been added to ResearchAndMarkets.com's offering.
The biggest long-term LNG contract signed in 2020 was between Kosmos Energy and BP plc in February 2020. According to the contract, Kosmos Energy will supply 2.5 million tonnes per annum (mtpa) of LNG for a period of seven years, from 2023 to 2030, to BP plc. The LNG will be supplied from the Tortue Floating I liquefaction terminal in Mauritania.
Scope
Reasons to Buy
Key Topics Covered:
1. Long-Term LNG Contracts Review
1.1 Biggest New Long-Term LNG Contract Signed in 2020
1.2 Regional Contract Briefs
2. LNG Contracted Capacity and Share Signed by Key Importing Countries in 2020 vis-a-vis 2019
3. LNG Contracted Capacity and Share Signed by Key Exporting Countries in 2020 vis-a-vis 2019
4. LNG Contracted Capacity and Share Signed by Key Purchaser Companies in 2020 vis-a-vis 2019
5. LNG Contracted Capacity and Share Signed by Key Seller Companies in 2020 vis-a-vis 2019
6. Annual Count of Contracts and Contracted Capacities by Key Purchaser Companies, 2018-2020
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/a0fhld
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ALS.TO #copper--Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) would like to update investors in connection with its lawsuit against both the Governments of Canada and Alberta (collectively, the “Defendants”) in relation to regulatory changes that will force the discontinuation of coal-fired electrical generation from the Genesee and other Alberta power plants by 2030. The lawsuit seeks compensation for actions that Altius believes are tantamount to expropriation of its Genesee royalty asset.
In the Company’s most recent MD&A disclosure Altius noted that the Defendants had filed an application for dismissal of the Altius Statement of Claim and that this had been set for hearing by the Alberta Court of Queen’s Bench (the “Court”) on December 8-11, 2020. This hearing took place before a Master of the Court on those dates. On January 4, 2021, the Master granted the application to dismiss the Statement of Claim on a summary basis and without a trial.
Altius believes that this decision is in error and incorrectly applies the law on taking and constructive expropriation. It is entitled to a full hearing before a Justice of the Court and intends to appeal the decision to a Justice of the Court promptly.
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,464,462 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Flora Wood
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Tel: 1.877.576.2209
Direct: +1(416).346.9020
HOUSTON--(BUSINESS WIRE)--Distribution International, Inc. (DI), North America’s leading mechanical insulation distributor, today announced the acquisition of RB, LLC, one of North America’s largest marine specialty insulation distributors and fabricators.
As a result of this acquisition, DI enhances its ability to deliver high-quality products and exceptional service to marine customers across North America.
“This acquisition is an exciting addition for DI as we continue to advance toward our goal of emerging from the pandemic as the clear service leader in the mechanical insulation fabrication and distribution industry,” said Steve Margolius, CEO, Distribution International. “RB brings deep technical expertise and valuable customer relationships in the marine insulation segment to DI, and we look forward to joining forces and expanding our marine product and service offering to our combined customer base in the U.S. and Canada.”
RB operates two marine distribution and fabrication facilities, located in New Orleans, LA, and San Diego, CA. They will become part of DI’s existing marine operations and will be led by Joey Viselli, SVP and general manager, U.S. East & Silvercote Division.
DI is North America’s leading mechanical insulation distributor and a portfolio company of Advent International.
About Distribution International
Founded in 1986, DI is a value-added distributor of insulation-related specialty fabricated products, HVAC products, and safety supplies in North America. The Houston-based company has over 90 locations and provides its customers with mission-critical products and services across the commercial building, chemicals, energy, power, railcar and marine end markets. The company has the broadest reach of any distributor in its market in the U.S. and Canada.
For more information, visit: www.distributioninternational.com or https://www.linkedin.com/company/distribution-international.
About Advent International
Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 360 private equity transactions in 41 countries, and as of September 30, 2020, had $66.2 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 235 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After more than 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.
For more information, visit: www.adventinternational.com or www.linkedin.com/company/advent-international.
Christina Kuhl
Director, Executive Communications
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281-906-4284
Joint venture of two industry leaders will support expansion of mitigation and conservation banks
HOUSTON & BALTIMORE--(BUSINESS WIRE)--#RES--Resource Environmental Solutions, LLC (RES) and Ecosystem Investment Partners (EIP) announced the acquisition today of a portfolio of mitigation banks in Georgia. This acquisition is enabled by a joint venture between the two companies to develop and acquire mitigation assets serving the state.
The joint venture leverages the expertise of two industry leaders to support and enhance existing mitigation banks, and to develop and maintain new mitigation assets that provide robust ecological benefits to the environment while providing reliable offsets for responsible economic development. RES will be the operator and long-term steward of the mitigation sites.
The joint venture has purchased 11 mitigation banking assets from Mitigation Resource Group. The banks were operated by Blueway, which has been acquired by RES in a separate transaction. These banks serve the Atlanta metro area, one of the fastest growing regions in the country, and will continue to serve public and private sector mitigation customers in the state. Credits from these banks have been a critical part of the region’s infrastructure development, supporting both economic development and ecological restoration priorities. Customers seeking credits can continue to contact Blueway.
“We are excited to work with EIP to acquire and develop mitigation solutions in support of responsible economic growth and development,” says Darrell Whitley, RES President and CEO. “EIP’s proven investment approach to supporting large-scale restoration projects is critical as we work together to develop sustainable ecological restoration projects in these markets. This is an innovative model for bringing institutional investors to the growing ecological restoration market.”
“Since our founding, we have been building and maintaining mitigation projects that support the long-term health of the economy and the natural environment,” says Nick Dilks, EIP Managing Partner. “Working with RES as a fully-scaled, proven implementation provider, that now has strong local capability in Georgia, will help to ensure high-quality and timely development of restoration assets in these important markets.”
About RES
Over the past decade, RES has built a sustainable operating company focused on an integrated approach to the development and implementation of customized restoration projects. Today, the company is a national leader in environmental services, providing ecological restoration and water resource solutions to the public and private sector. The team delivers turnkey, land-based projects that build natural resilience into ecosystems, enabling them to thrive in step with economic growth.
About EIP
Since 2006, EIP has focused on investing in land-based environmental offset markets by acquiring properties with degraded aquatic resources or species habitats, restoring and conserving them according to high standards and delivering those outcomes to its customers and partners nationally. The firm brings together a deep and complementary set of expertise in ecological restoration, private investment management, conservation real estate, and environmental policy. EIP delivers innovative mitigation projects and full delivery restoration solutions at scale.
Michael Hare
RES
Director, Government Affairs and Communications
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Patrick Ryan
RES
VP, Corporate Development
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Katherine Birnie
Managing Director, Markets
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ALBUQUERQUE, N.M.--(BUSINESS WIRE)--BayoTech, Inc. (“BayoTech”), a global leader in on-site hydrogen production, today announced it has received an equity investment of up to $157 million from Newlight Partners LP (“Newlight”), a growth equity investor, with participation from existing investors Cottonwood Technology Funds, Sun Mountain Capital and new investor Fortistar. The proceeds will be used to accelerate BayoTech’s strategic growth through product development, project development and infrastructure expansion.
BayoTech is an energy solutions company committed to addressing the global need for consistent, cost-effective, low-carbon supply of hydrogen. Hydrogen possesses many attributes that will drive long-term demand as a fuel source, including its role in global decarbonization efforts. Today, most hydrogen is produced at large, centralized facilities before being delivered to end users. BayoTech, through its on-site hydrogen generators and “Gas-as-a-Service” offering, reduces or eliminates transportation and storage costs, which result in less energy wasted and a lower carbon footprint than traditional hydrogen production technology and electrolyzer-based systems. The company’s modular, scalable, and rapidly deployable hydrogen production systems require lower upfront capital commitments, streamlined siting and installation and, when paired with renewable natural gas (“RNG”), offer the most cost-effective green hydrogen available today.
BayoTech’s hydrogen generation systems produce local hydrogen close to the application. This saves customers money and reduces the carbon intensity associated with the legacy challenges of liquifying and transporting hydrogen. This allows BayoTech to serve a diverse set of end users, including traditional consumers in the industrial gas and chemicals industries, as well as those using hydrogen to power the fast-growing fuel cell segment.
“This is an exciting day in our company’s evolution. This investment will enable BayoTech to drive commercial growth aggressively so that consumers around the world can have access to low cost, low/zero-carbon hydrogen today,” said Mo Vargas, BayoTech’s President & Chief Executive Officer. “Having previously worked with Newlight, I have experienced firsthand the strategic resources and value they bring to their partners as well as their team’s ability to understand and invest in new markets. We have a shared vision of where we want BayoTech to go and the tremendous opportunity that the company has in the hydrogen sector. We also welcome Fortistar, who has experience building almost 400 fueling stations and are in the middle of a $400 million capital investment program to produce over 100 million gas gallon equivalents of RNG, which will accelerate the deployment of BayoTech generation sites. We are very appreciative of the continued support from Cottonwood and Sun Mountain as well. They have been amazing partners over BayoTech's 5-year journey.”
“Advances in fuel cell technology are driving demand for hydrogen in emerging applications, including in the materials handling, mobility and power sectors, where demand tends to be more distributed. BayoTech’s innovative approach to on-site hydrogen generation ensures that these end users, who are not well-served by the incumbent industrial gas players, are able to get on-demand hydrogen at a competitive price,” said Mark Longstreth, Partner at Newlight. “We are proud to be partnering alongside Mo and his talented team at BayoTech to support the company’s growth and bolster its position as a leading provider of sustainable and cost-effective hydrogen solutions as the global energy sector transitions to a less carbon-intensive future.”
Wendy Rollstin, BayoTech’s Chief Financial Officer, added, “The new capital follows a year of significant growth for BayoTech, which announced agreements for hydrogen development projects with HYZON Motors, IGas Energy, Nutrien, and others, as well as filing four new patents in 2020. This investment will enable BayoTech to enhance our commercialization efforts, expand our product offerings to meet the needs of our customers seeking to promote their sustainability goals, and continue to innovate.”
About BayoTech
BayoTech is a hydrogen generation technology company offering hydrogen production solutions through rentals, leases, sales and gas-as-as-service to customers worldwide. Headquartered and produced in New Mexico, USA, BayoTech’s on-site hydrogen generators are more efficient than legacy steam methane reformers, leading to lower carbon emissions and low-cost hydrogen. Visit www.bayotech.us for more information.
About Newlight Partners LP
Newlight Partners LP is a growth equity firm focused on building businesses in partnership with founders and exceptional management teams. For more than 15 years, the Newlight team has helped build successful enterprises in five sectors, including telecommunications, financial services, power & infrastructure, healthcare and business services. Led by David Wassong and Ravi Yadav, the Newlight team has invested approximately $6 billion in over 100 investments since 2005, first as the Strategic Investments Group at Soros Fund Management LLC (Soros), and now as Newlight after the team's spin out from Soros in 2018. Newlight has approximately $4 billion in capital commitments and assets under management.
For more information, please visit www.newlightpartners.com.
About Cottonwood Technology Fund
CTF is a seed and early-stage technology commercialization fund with offices in Santa Fe, New Mexico; and Enschede, the Netherlands. It invests in founding stage technology-related (particularly telecom, chemistry/material sciences, photonics, biosciences, robotics and new energy) businesses originating throughout the Southwest region of the US and also in Northern Europe. Visit www.cottonwoodtechnologyfund.com for more information.
About Sun Mountain Capital
SMC is based in Santa Fe, New Mexico and is a diversified private equity firm with investment strategies in both direct and fund of funds programs spanning venture capital, mezzanine debt and growth equity. Visit https://sunmountaincapital.com for more information.
About Fortistar
Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility and operating expertise to grow high-performing companies, first in power generation and now in mobility, carbon capture, the circular economy and other solutions that drive our transition to a zero-carbon future. As a team, Fortistar has financed over $3.5 billion in capital for companies and projects in the energy, transportation and industrial sectors. For more information about Fortistar or its portfolio companies, please visit: www.Fortistar.com and follow the company on LinkedIn.
Jeff Mitchell, Director of Sales Operations
Tel: 203-214-7106
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www.bayotech.us/
For Newlight Partners
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170
Acquisition expands Fairbanks Morse’s aftermarket services for military customers
BELOIT, Wis.--(BUSINESS WIRE)--Fairbanks Morse, a portfolio company of Arcline Investment Management (“Arcline”), has acquired Ward Leonard Operating, LLC (“Ward Leonard” or the “Company”), a leading provider of motor and control solutions for military applications. This acquisition will expand the scope of power and propulsion equipment and aftermarket services that Fairbanks Morse provides to its core customers, including the U.S. Navy, U.S. Coast Guard and the Canadian Coast Guard.
“The acquisition of Ward Leonard expands the Fairbanks Morse product portfolio into complementary technologies, positioning us to serve as a power systems integrator to the U.S. Navy and U.S. Coast Guard,” said George Whittier, CEO of Fairbanks Morse. “Like Fairbanks Morse, Ward Leonard has an installed base across virtually every ship class, and we expect to augment its aftermarket parts and services offerings using Fairbanks Morse’s extensive shop and field service capabilities.”
Ward Leonard has supplied the U.S. Navy for more than 125 years and today specializes in the provision of state-of-the-art motors, control components and systems integration solutions for surface, subsurface and land-based applications. Ward Leonard has approximately 150 employees based in Connecticut. In addition to Ward Leonard’s Connecticut operations, the Company also has affiliated locations in Texas and Louisiana that Fairbanks Morse will not acquire. Fairbanks Morse will retain the Ward Leonard name.
“Through our engineering expertise and industry-leading maintenance and repair services, Ward Leonard has built a strong reputation by focusing on reducing total system costs and mitigating risks for our military customers,” said Jon Carter, owner and CEO of Ward Leonard. “We were impressed with the speed, efficiency and professionalism of both the Fairbanks and Arcline teams in working towards a closing. This move will provide additional support for our customers by increasing their access to OEM products and support through Fairbanks Morse’s waterfront field service presence.”
UBS Investment Bank served as financial advisor to Fairbanks Morse and Arcline.
About Fairbanks Morse
Fairbanks Morse manufactures and services heavy-duty, medium-speed reciprocating engines under the Fairbanks Morse® and ALCO® brand names, which are used primarily in marine and power generation applications. Fairbanks Morse has been the original equipment manufacturer of its engines for over 125 years and has a large installed base for which it supplies aftermarket parts and services. Fairbanks Morse is the principal supplier of diesel engines to the U.S. Navy, U.S. Coast Guard and Canadian Coast Guard. One hundred percent of manufacturing is conducted in its U.S. based facility in Beloit, Wis., while aftermarket parts and services are delivered through its growing network of service centers strategically located around the U.S. Fairbanks Morse is a portfolio company of Arcline Investment Management. Learn more about Fairbanks Morse by visiting www.fairbanksmorse.com.
About Ward Leonard
For more than 125 years, Ward Leonard has provided industry-leading electric motor, generator, control, and service solutions for critical Naval, commercial marine, energy, and industrial applications worldwide. Ward Leonard’s unmatched engineering expertise and maintenance and repair services help customers increase uptime, reduce cost, and mitigate risk in the most demanding environments. Ward Leonard offers a core set of electric motors and control systems that are used in many applications for the U.S. Navy. Today, Ward Leonard is a trusted name for powering heavy industry and defense, having played a key role in the development of electrical equipment such as motor controllers, generators, motors, and related rotary and linear electrical, electro-mechanical, and mechanical equipment for use in some of the most extreme environments on earth. Learn more by visiting www.wardleonard.com.
Fairbanks Morse Media Contact:
Mercom Communications
Wendy Prabhu
Tel: 512-215-4452
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Focus is Now on Graphite Development
Company Anticipates $4 Million Annual Cost Reduction
CENTENNIAL, Colo.--(BUSINESS WIRE)--$WWR #uranium--Westwater Resources, Inc. (Nasdaq: WWR), a battery graphite development company, today announced the sale of all of its uranium assets located in New Mexico and Texas to enCore Energy Corp. of Vancouver, British Columbia, Canada, a Toronto Venture Exchange-listed company (TSXV:EU). Total consideration accruing to Westwater from the deal is $1.8 million in enCore shares (2,571,598 shares), representing a 1.5% ownership of enCore, and two royalties from future production from the New Mexico uranium properties. enCore also assumed the asset retirement obligation on all remaining uranium reclamation activities associated with the assets in the amount of approximately $6.0 million. All performance bonds for the Texas uranium properties have been transferred to enCore as of December 31, 2020, as well as the release of $742,642 in restricted cash collateral to Westwater as a result of the transfer of the performance bonds. Westwater is retaining its uranium interests in the Republic of Turkey, which are subject to an ongoing international arbitration proceeding.
Christopher M. Jones, President and Chief Executive Officer of Westwater said, “We are happy to place these uranium assets in the hands of a company like enCore where they can be developed further as part of a larger, consolidated land position. With over $50 million in our treasury, Westwater can now devote its full focus, attention and resources on advancing our battery-grade graphite product business. At the same time, we expect to free-up over $4 million per year for the next several years in land payments, reclamation expenses and operating costs associated with the uranium properties – money that can be used for our Coosa Graphite Project.”
“The Coosa Graphite Project in Alabama is perfectly timed to take advantage of the advances in the electrification of our transportation system and in the grid electricity storage for renewable energy, both here in the United States and the rest of the world. These systems need graphite as a critical component – and our development plan puts battery-grade graphite in the marketplace in FY2021 and accelerates Westwater’s path to cash flow in FY2023. Completing the transformation of the Company from its uranium past to its graphite future is good for business and provides value for our shareholders.”
Pilot Plant Update
Westwater has been conducting integrated pilot operations to obtain battery-grade purified graphite and demonstrate that advanced graphite products can be produced from purified graphite. These pilot operations are expected to provide detailed design parameters for a full-scale production facility, construction of which is anticipated to begin in late 2021, with commissioning and startup expected to follow in late 2022. To date, pilot operations have achieved the following:
Aspects of the pilot operations are expected to run through the second quarter of 2021 and provide important data to inform the Bankable Feasibility Study, which is expected to be completed mid-year 2021, and continue to produce quantities of battery-grade graphite for customer tests. Look for updates during the first and second quarters on this important project, which is running in Germany, New York and Illinois.
About Westwater Resources
Westwater Resources (NASDAQ: WWR) is focused on developing battery-grade graphite to serve green energy markets such as electric vehicles and grid electrical storage for renewable energy, in addition to alkaline power cell and other battery markets. The Company’s battery-grade graphite projects include the Coosa Graphite Project — the most advanced, natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Mine located across 41,900 acres (~17,000 hectares) in east-central Alabama. Operation of the pilot plant is underway and is scheduled to produce ULTRA-PMG™, ULTRA-DEXDG™ and ULTRA-CSPG™ in quantities that facilitate qualification testing at potential customers. For more information, visit www.westwaterresources.net.
Cautionary Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," “scheduled,” and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including the commencement of operations at the pilot plant; future production of battery-grade graphite; developments at the Company’s projects; and the Company’s future liquidity, cost-savings and cash demands are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to: (a) the Company’s ability to successfully construct and operate a pilot plant capable of producing battery-grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan, including the impact of COVID-19 and its potential impacts to the capital markets; (e) government regulation of the graphite industry and the vanadium industry; (f) world-wide graphite and vanadium supply and demand; (g) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including in Alabama and Colorado; (h) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (i) currently pending or new litigation or arbitration; and (j) other risk factors which are more fully described in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
Westwater Resources Contact:
Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Contact:
Porter, LeVay & Rose
Michael Porter
Phone: 212.564.4700
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Sales Contact:
Jay Wago, Vice President, Sales and Marketing
Phone: 980.242.1605
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Montieth & Company ranked as fast-growing PR power player in global communications
NEW YORK & LONDON & HONG KONG--(BUSINESS WIRE)--#artificialintelligence--For the fourth year in a row, Montieth & Company (M&Co) was chosen by the New York Observer as one of the top-performing PR power player firms. For 2020, the Observer created a PR Power 50 List ranking individual executives from both agency and in-house communications. CEO Montieth Illingworth was recognized for managing the smart globalization of the growing firm, diversifying its sector expertise and achieving key results for its expanding list of clients across multiple markets.
“For some firms, 2020 proved a boom year. Montieth Illingworth’s 13-year-old agency is one of them,” wrote the Observer, adding that “instead of investing tons in overseas offices, Illingworth cannily chose a multilingual team that works across borders. For most of the firm’s clients, staying out of the news means success, but Illingworth’s also engineered a few media coups this year. Almost exclusively among agencies this year, Illingworth’s company maintained a 25% growth rate through the pandemic, an achievement for a business of any size that’s not Amazon or Walmart.”
“We’ve built an agency that provides a highly integrated, flexible and efficient array of PR services and solutions that deliver high-value results in single and multiple markets,” says CEO Montieth Illingworth. “In the face of the pandemic, our team adapted quickly to a new set of emerging needs from our clients who faced both pressing challenges and unique opportunities. I’m honored to be recognized by the Observer and grateful to my colleagues for all their hard work during a challenging year.”
Notable in the success that made M&Co a PR power player in 2020 is the firm’s work in financial and professional services, artificial intelligence, renewable energy and public affairs in over 25 global media markets. M&Co also advised on a range of special situation matters, from supporting companies negatively impacted by the COVID-19 pandemic to civil litigation disputes. In addition, the firm is advising political action committees and non-profit organizations focused on solving societal problems that align with the firm’s corporate values. M&Co has a diverse team of executives that speak 10 languages and is led by its Global Management team with counsel from its Senior Advisors.
In 2020, M&Co created a Diversity, Equity and Inclusion Initiative that provided free media training to over 30 women and minority executives. This holiday season M&Co focused its charitable giving on supporting organizations fighting food insecurity.
“If you’re battled-scarred and tested, your stock went up. Likewise, if you’re smart enough to rewrite the rules, clients wanted you,” said Observer’s PR Power 50.
About M&Co
Montieth & Company is a global communications consultancy that helps you seize opportunity and prevail in the face of your biggest challenges. M&Co has global hubs in New York, London, and Hong Kong and provides services and solutions in multiple money and media center markets throughout the Americas, EMEA, and Asia-Pacific.
Katarina Matic
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917-853-1105
Accretive acquisition with $2M near-term revenue commitments, 30-40% project gross margin and a software platform for recurring energy service revenues.
SOUTH BURLINGTON, Vt.--(BUSINESS WIRE)--$PECK #electricvehicle--The Peck Company Holdings, Inc. (NASDAQ: PECK) (“Peck”), a leading commercial solar engineering, procurement and construction (“EPC”) company and iSun Energy LLC. (“iSun”), a provider of innovative solar power, electric mobility and smart city solutions for government, commercial, retail, academic and data-center projects, today announced that they have entered into a binding term sheet under which Peck will acquire iSun in an all-stock transaction. Mr. Peress will become Chief Innovation and Experience Officer.
Acquisition Rationale
Peck established a dominant position over the past 50 years as a leading electrical and data contractor, as well as the largest solar EPC in Vermont, focused on high-quality commercial, industrial and small-utility scale solar projects. Despite COVID related challenges last year, there were no project cancellations, and the last reported pipeline was $56M, with no anticipated overhead additions required to execute the existing pipeline. Peck has been executing a disciplined growth plan since becoming a public company in June 2019, and accretive M&A has been a top priority. Acquiring the iSun® Brand and its innovations is consistent with Peck’s evolution toward serving our customers as a full-service energy solutions provider. Furthermore, adding the higher margin products and energy services will have a positive impact on typical solar EPC margins. Combining Peck’s profitable EPC business for solar, data and electrical contracting with award-winning products and platforms that are modular, scalable and connected is a powerful combination that differentiates the company from other solar EV charging companies.
Highlights
iSun® Brand Products
The flagship iSun Energy & Mobility Hub is the result of 30 years of passion, dedication, and innovation through sustainability. The iSun solar EV carport charging systems incorporate solar panels to charge electric vehicles while providing unparalleled software insights into data surrounding the energy produced, consumed, air quality effects and other key metrics. The iSun Oasis Smart Solar Bench is expected to be an integral part in developing smart cities and campuses and has the ability to charge any mobile device through integrated solar panels that collect and store energy throughout the day. iSun’s accompanying data platform allows for monitoring and analysis of key metrics through built in IoT (Internet of Things) sensors. The platform also affords both physical and digital advertising and branding, for additional recurring revenue opportunities. iSun’s Augmented Reality 3D software platform helps clients visualize their projects before they are built, making it easy for our clients to adopt sustainable solutions and to understand their impact on sustainability.
Management Commentary
Jeffrey Peck, Chairman of the Board and Chief Executive Officer of Peck, commented, “The acquisition of iSun Energy with its strong brand and innovative products is transformational for Peck. Consistent with our full-service approach to customers, we are having more conversations about Energy as a Service as we reach new customers in the fast-growing clean energy, smart-city and mobility industry. More customers want to experience the benefits of the clean energy, and we want to provide them that service by owning and managing the assets. We expect the new relationships we build will be a catalyst for the company’s rapid growth. As we re-brand to iSun Energy and expand into new markets with higher-margin products, we are dedicated to profitable growth for our shareholders and to high-quality service that our customers expect. Our incredible team and the services we currently provide through Peck Solar, Peck Data, and Peck Electric remain a strong platform to support our growth and will be leveraged in the new markets we will serve. We are also pleased to welcome Sass Peress as Chief Innovation and Experience Officer. He has been an innovator in our industry since 1988 when he founded a solar energy company that sold some of the first solar charging products in the world, and then moved into electric vehicle charging technology in 2010. He will help us communicate our new offerings through the iSun® Brand and will lead new business development, marketing and technology initiatives across mobility, smart city, and other markets.”
Sass Peress, Founder and Chief Executive Officer of iSun Energy LLC, added, “We create innovative products to serve important unmet needs in the industry, and joining with Peck assures that we will be able to deliver on the promises to a much wider audience, in manners more efficient and effective than ever before. Designing and integrating with today’s complex energy systems requires an ecosystem approach to assure grid resilience. Technologies such as Vehicle to Grid, Internet of Things (IoT) connectivity, stationary storage, and more are becoming central to satisfying smart grid and off-grid opportunities of the future. Our ‘Triple ROI’ approach (investment, intention, impact) is important to satisfy various stakeholders, and our ability to custom-tailor assets for sites means that we can now truly create unique experiences for clients, while delivering higher margins to our combined bottom line. We are proud to be joining Peck given the strength of their precision execution combined with our innovations are perfectly synergistic.”
As the new administration, Armed Forces, municipalities, and corporate entities increase support for renewable energy infrastructure and electrify their vehicle fleets, iSun’s customized approach will allow for tailoring of technologies that are easily deployable, scalable, robust and intelligent. The AI (artificial intelligence) code that iSun has in development will allow for “right-sizing” of energy generation, storage assets, and electric vehicle charging infrastructure, with the goal of improving resiliency for on/off-grid applications.
iSun’s innovations were recognized this year by the Solar Impulse Foundation of Bertrand Piccard as one of the globe’s Top 1000 Sustainability Solutions. As a winner, this award will result in the iSun solution being presented to hundreds of government entities around the world, including various municipal, state and federal agencies in the United States.
The transaction is expected to close in January 2021, subject to approval by Peck’s Board of Directors.
About The Peck Company Holdings, Inc.
Headquartered in South Burlington, VT, The Peck Company Holdings, Inc. (NASDAQ: PECK) is a 2nd-generation family business founded in 1972 and rooted in values that align people, purpose, and profitability. Ranked by Solar Power World as one of the leading commercial solar contractors in the Northeastern United States, Peck provides EPC services to solar energy customers for projects ranging in size from several kilowatts to multi-megawatt systems for commercial and utility scale projects. Peck has installed over 200 megawatts of solar systems since it started installing solar PV in 2012 and continues its focus on profitable growth opportunities. For more information, visit www.peckcompany.com.
About iSun Energy LLC
iSun Energy develops and deploys solar energy and smart city e-mobility hubs. The Burlington, Vermont based company is on a mission to provide clean energy and mobility, through the delivery of smart, solar energy generating structures, combined with EV charging, air quality tracking, and energy-resiliency services. iSun continues to add other proprietary products to serve the needs of smart-cities powered by clean energy. For more information, visit www.isunenergy.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) the benefits of the proposed merger, including future financial and operating results, cost savings and synergies, effects on cash flow, market accessibility, financing opportunities, enhancements to revenue and accretion to reported earnings that may be realized from the proposed merger; (ii) Peck’s and iSun’s plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (iii) other statements identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the respective management of Peck and iSun and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of Peck and iSun. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval with respect to the proposed merger or otherwise. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Peck Company Holdings Investor Contact:
Michael d’Amato
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Phone: 802-264-2040
iSun Energy LLC Contact:
Sass Peress
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Phone: 514-909-5047
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR) announces the following schedule and teleconference information for its fourth quarter 2020 earnings release:
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Fluid Handling, Payment & Merchandising Technologies, Aerospace & Electronics and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has been invited to present at the 23rd Annual Needham Virtual Growth Conference on Thursday, January 14.
Iteris president and CEO Joe Bergera, and CFO Douglas Groves are scheduled to present at 4:15 p.m. ET (1:15 p.m. PT), and will participate in virtual one-on-one meetings with investors throughout the day.
For additional information or to schedule a one-on-one meeting with Iteris management, please contact your Needham representative, or Iteris’ investor relations firm, MKR Investor Relations, at This email address is being protected from spambots. You need JavaScript enabled to view it..
The company’s presentation will be webcast live and available for replay via the investor relations section of the company’s website at www.iteris.com. A copy of the presentation used at the conference will also be posted to the investor relations section of the company’s website.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Contact
Douglas Groves
Senior Vice President and Chief Financial Officer
Tel: (949) 270-9643
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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-- Acquisition Supports the Advancement of Company’s Integrated Platform and Furthers Company’s Customer-Focused Strategy --
PRINCETON, N.J.--(BUSINESS WIRE)--$NRG #Acquisition--NRG Energy Inc. (NYSE:NRG) completed the acquisition of Direct Energy from Centrica plc effective today, further cementing NRG’s status as the leading, customer-focused integrated energy and services provider. Direct Energy adds over three million customers across North America to NRG’s leading retail portfolio, growing the company’s reach and size.
“The acquisition of Direct Energy further perfects our integrated model by enhancing the way we serve customers with additional products and services,” said Mauricio Gutierrez, NRG President and Chief Executive Officer. “I want to welcome Direct Energy employees into the NRG family as we embark on this exciting new chapter of our evolution.”
NRG now features a larger customer footprint, serving all 50 U.S. states and parts of Canada, with capabilities across residential and small & large business segments. The company’s expanded home service and retail natural gas capabilities provide additional opportunities to serve customers with valuable products and services.
As a result of closing this transaction, NRG’s updated 2021 guidance now reflects the combination of NRG and Direct Energy based on NRG’s previously disclosed guidance and its 2021 expectation for Direct Energy as first provided during its Business Update call on July 24, 2020.
2021 Guidance:
($ IN MILLIONS) |
Updated Guidance |
Adjusted EBITDA1 |
$2,400-$2,600 |
Free Cash Flow before Growth |
$1,440-$1,640 |
1 Non-GAAP financial measure; see Appendix Table for GAAP Reconciliation to Net Income that excludes fair value adjustments related to derivatives. The Company is unable to provide guidance for Net Income due to the impact of such fair value adjustments related to derivatives in a given year.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to more than 3.7 million residential, small business, and commercial and industrial customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, and by working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy, @nrginsight.
Forward-Looking Statements
In addition to historical information, the information presented in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks and uncertainties and can typically be identified by terminology such as “may,” “should,” “could,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “expect,” “intend,” “seek,” “plan,” “think,” “anticipate,” “estimate,” “predict,” “target,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements include, but are not limited to, statements about the Company’s future revenues, income, indebtedness, capital structure, plans, expectations, objectives, projected financial performance and/or business results and other future events, and views of economic and market conditions.
Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated herein include, among others, the potential impact of COVID-19 or any other pandemic on the Company’s operations, financial position, risk exposure and liquidity, general economic conditions, hazards customary in the power industry, weather conditions, competition in wholesale power markets, the volatility of energy and fuel prices, failure of customers to perform under contracts, changes in the wholesale power markets, changes in government regulations, the condition of capital markets generally, our ability to access capital markets, cyberterrorism and inadequate cybersecurity, unanticipated outages at our generation facilities, adverse results in current and future litigation, the ability to successfully integrate businesses of acquired companies including Direct Energy, our ability to realize anticipated benefits of transactions (including expected cost savings and other synergies) or the risk that anticipated benefits may take longer to realize than expected, and our ability to execute our Capital Allocation Plan.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The adjusted EBITDA and free cash flow guidance are estimates as of January 5, 2021. These estimates are based on assumptions the company believed to be reasonable as of that date.
NRG disclaims any current intention to update such guidance, except as required by law. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this press release should be considered in connection with information regarding risks and uncertainties that may affect NRG's future results included in NRG's filings with the Securities and Exchange Commission at www.sec.gov.
Appendix Table: NRG 2021 Guidance
The following table summarizes the calculation of Adjusted EBITDA and Free Cash Flow before Growth and provides a reconciliation to Income from Continuing Operations and Cash Flow from Operations:
($ millions) |
2021
|
Income from Continuing Operations |
$1,180 – $1,380 |
Income Tax |
25 |
Interest Expense |
475 |
Depreciation, Amortization, Contract Amortization, and ARO Expense |
555 |
Adjustment to Reflect NRG Share of Adjusted EBITDA in Unconsolidated Affiliates |
70 |
Other Costs |
95 |
Adjusted EBITDA |
$2,400 – $2,600 |
Interest Payments |
(475) |
Income Tax |
(25) |
Working Capital / Other Assets and Liabilities |
(300) |
Cash Flow from Operations |
$1,600 - $1,800 |
Adjustments: Acquired Derivatives, Cost-to-Achieve, Return of Capital Dividends, Collateral, GenOn Pension, Other |
30 |
Adjusted Cash Flow from Operations |
$1,630 - $1,830 |
Maintenance Capital Expenditures, net |
(180) – (195) |
Environmental Capital Expenditures, net |
(5) - (10) |
Free Cash Flow before Growth |
$1,440 - $1,640 |
EBITDA and Adjusted EBITDA are non-GAAP financial measures. These measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. The presentation of Adjusted EBITDA should not be construed as an inference that NRG’s future results will be unaffected by unusual or non-recurring items.
EBITDA represents net income before interest (including loss on debt extinguishment), taxes, depreciation and amortization. EBITDA is presented because NRG considers it an important supplemental measure of its performance and believes debt-holders frequently use EBITDA to analyze operating performance and debt service capacity. EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for analysis of our operating results as reported under GAAP. Some of these limitations are:
Because of these limitations, EBITDA should not be considered as a measure of discretionary cash available to use to invest in the growth of NRG’s business. NRG compensates for these limitations by relying primarily on our GAAP results and using EBITDA and Adjusted EBITDA only supplementally. See the statements of cash flow included in the financial statements that are a part of this news release.
Adjusted EBITDA is presented as a further supplemental measure of operating performance. As NRG defines it, Adjusted EBITDA represents EBITDA excluding impairment losses, gains or losses on sales, dispositions or retirements of assets, any mark-to-market gains or losses from accounting for derivatives, adjustments to exclude the Adjusted EBITDA related to the non-controlling interest, gains or losses on the repurchase, modification or extinguishment of debt, the impact of restructuring and any extraordinary, unusual or non-recurring items plus adjustments to reflect the Adjusted EBITDA from our unconsolidated investments. The reader is encouraged to evaluate each adjustment and the reasons NRG considers it appropriate for supplemental analysis. As an analytical tool, Adjusted EBITDA is subject to all of the limitations applicable to EBITDA. In addition, in evaluating Adjusted EBITDA, the reader should be aware that in the future NRG may incur expenses similar to the adjustments in this news release.
Management believes Adjusted EBITDA is useful to investors and other users of NRG's financial statements in evaluating its operating performance because it provides an additional tool to compare business performance across companies and across periods and adjusts for items that we do not consider indicative of NRG’s future operating performance. This measure is widely used by debt-holders to analyze operating performance and debt service capacity and by equity investors to measure our operating performance without regard to items such as interest expense, taxes, depreciation and amortization, which can vary substantially from company to company depending upon accounting methods and book value of assets, capital structure and the method by which assets were acquired.
Management uses Adjusted EBITDA as a measure of operating performance to assist in comparing performance from period to period on a consistent basis and to readily view operating trends, as a measure for planning and forecasting overall expectations, and for evaluating actual results against such expectations, and in communications with NRG's Board of Directors, shareholders, creditors, analysts and investors concerning its financial performance.
Adjusted cash flow from operating activities is a non-GAAP measure NRG provides to show cash from operations with the reclassification of net payments of derivative contracts acquired in business combinations from financing to operating cash flow, as well as the add back of merger, integration and related restructuring costs. The Company provides the reader with this alternative view of operating cash flow because the cash settlement of these derivative contracts materially impact operating revenues and cost of sales, while GAAP requires NRG to treat them as if there was a financing activity associated with the contracts as of the acquisition dates. The Company adds back merger, integration related restructuring costs as they are one time and unique in nature and do not reflect ongoing cash from operations and they are fully disclosed to investors.
Free cash flow (before Growth) is adjusted cash flow from operations less maintenance and environmental capital expenditures, net of funding, preferred stock dividends and distributions to non-controlling interests and is used by NRG predominantly as a forecasting tool to estimate cash available for debt reduction and other capital allocation alternatives. The reader is encouraged to evaluate each of these adjustments and the reasons NRG considers them appropriate for supplemental analysis. Because we have mandatory debt service requirements (and other non-discretionary expenditures) investors should not rely on free cash flow before Growth as a measure of cash available for discretionary expenditures.
Free Cash Flow before Growth is utilized by Management in making decisions regarding the allocation of capital. Free Cash Flow before Growth is presented because the Company believes it is a useful tool for assessing the financial performance in the current period. In addition, NRG’s peers evaluate cash available for allocation in a similar manner and accordingly, it is a meaningful indicator for investors to benchmark NRG's performance against its peers. Free Cash Flow before Growth is a performance measure and is not intended to represent net income (loss), cash from operations (the most directly comparable U.S. GAAP measure), or liquidity and is not necessarily comparable to similarly titled measures reported by other companies.
Investors:
Kevin L. Cole, CFA
Investor Relations
NRG Energy
(609) 524-4526
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Media:
Candice Adams
Corporate Communications
NRG Energy
(609) 524-5428
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NORWELL, Mass.--(BUSINESS WIRE)--Clean Harbors, Inc. (“Clean Harbors”) (NYSE: CLH), the leading provider of environmental and industrial services throughout North America, today announced that Chief Financial Officer Michael L. Battles and SVP Investor Relations Jim Buckley will be presenting at the following virtual investor conferences in January:
To access the live or archived webcast of these events, visit the “Investor Relations” portion of Clean Harbors’ website at www.cleanharbors.com.
About Clean Harbors
Clean Harbors (NYSE: CLH) is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies. Its customer base spans a number of industries, including chemical, energy and manufacturing, as well as numerous government agencies. These customers rely on Clean Harbors to deliver a broad range of services such as end-to-end hazardous waste management, emergency spill response, industrial cleaning and maintenance, and recycling services. Through its Safety-Kleen subsidiary, Clean Harbors also is North America’s largest re-refiner and recycler of used oil and a leading provider of parts washers and environmental services to commercial, industrial and automotive customers. Founded in 1980 and based in Massachusetts, Clean Harbors operates in the United States, Canada, Mexico, Puerto Rico and India. For more information, visit www.cleanharbors.com.
Michael L. Battles
EVP and Chief Financial Officer
Clean Harbors, Inc.
781.792.5100
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Jim Buckley
SVP Investor Relations
Clean Harbors, Inc.
781.792.5100
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MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy Inc. (NASDAQ: XEL) announced today that it has submitted a redemption notice to the trustee to redeem all of its outstanding 2.40% Senior Notes, Series due March 15, 2021 (Notes), on February 16, 2021 (Redemption Date). The redemption price is the outstanding principal amount of the Notes, plus accrued and unpaid interest to the Redemption Date. The aggregate principal amount of Notes currently outstanding is $400,000,000.
This press release does not constitute a notice of redemption of the Notes. Holders of the Notes should refer to the notice of redemption to be delivered to the registered holders of the Notes by Wells Fargo Bank, N.A., the trustee with respect to the Notes.
This press release is not an offer to sell or a solicitation of an offer to buy any securities.
Forward Looking Statements
This release contains forward-looking statements that are subject to certain risks, uncertainties and assumptions. Such forward-looking statements include the company’s plan to redeem the Notes. Actual results may vary materially. Factors that could cause actual results to differ materially include, but are not limited to: general economic conditions, including the availability of credit, actions of rating agencies and their impact on capital expenditures; business conditions in the energy industry: competitive factors; unusual weather; effects of geopolitical events; including war and acts of terrorism; changes in federal or state legislation; regulation; actions of regulatory bodies; and other risk factors listed from time to time by Xcel Energy in its Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2019 (including the items described under Factors Affecting Results of Operations) and the other risk factors listed from time to time by Xcel Energy Inc. in reports filed with the SEC.
About Xcel Energy Inc.
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Xcel Energy
Financial analysts:
Paul Johnson, 612-215-4535
Vice President, Investor Relations
or
News media inquiries:
Xcel Energy Media Relations, 612-215-5300
SANTA MONICA, Calif.--(BUSINESS WIRE)--#sustainableaviation--WasteFuel, a California based company focused on converting waste into low carbon fuels, announced today that it has named Trevor Neilson as its Chairman and CEO. The company also announced Mario De La Ossa as Chief Commercial Officer and Kevin Stark as the company’s Chief Operating Officer.
Neilson, an entrepreneur and leader in sustainable finance, was previously Co-founder and CEO of i(x) investments, a leading impact investment firm and early investor in WasteFuel. Neilson now serves as the Chairman of i(x) investments.
In addition, Neilson is active philanthropically on issues related to climate change and sustainability as Chairman of Sustainable Future, an initiative he launched with His Royal Highness the Prince of Wales, and as a Co-founder of the Climate Emergency Fund.
“The climate emergency represents an existential threat to all life on earth,” said Neilson. “A number of proven waste technologies exist that can dramatically reduce carbon emissions and it’s our job to bring them to scale. This is the future of transportation where there is no such thing as waste, there is only fuel.”
De La Ossa joins WasteFuel as Chief Commercial Officer and brings extensive expertise in renewable fuels commercial optimization, private markets and the energy sector. He founded MDO Energy Insight, was a Managing Director at Silverpeak, and was a global oil product manager for Bloomberg.
Stark will focus on the company’s growth as it scales to address the global waste crisis and address climate change efficiently. He is a 22-year SEAL with demonstrated expertise in effectively building and leading high-performance teams, managing programs and projects, and applying problem-solving skills to drive organizational success.
The world generates 2.01 billion tons of municipal solid waste annually and this number is expected to grow to 3.40 billion tons by 2050.
About WasteFuel
WasteFuel is a next-generation waste to fuels company that uses proven technology to convert municipal waste into aviation grade biofuel that burns at an 80% reduction in carbon to fossil fuel-based aviation fuel. The company is focused on addressing the climate emergency and revolutionizing mobility. For more information visit: www.wastefuel.com.
Abby Pick
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy, LP today announced it received a 5-star rating from the Global Real Estate Sustainability Benchmark’s (GRESB) 2020 Infrastructure Asset Assessment. GRESB is considered the leading environmental, social and governance (ESG) benchmark for real estate and infrastructure investments across the world.
Tallgrass received 82 points out of a possible 100 in the Infrastructure Asset Assessment, earning a position in the top 20 percent of the 426 participating assets (which together scored an average of 61). Tallgrass’ peers in the natural resource transportation segment scored an average of 70.
"We’re extremely proud to receive GRESB’s highest possible rating,” said Tallgrass CEO William R. Moler. “Tallgrass employees work tirelessly every day to operate our assets in a safe and environmentally conscious manner, and our GRESB rating is a testament to their efforts. In the coming years we look forward to continuing to improve our performance across the entire ESG spectrum.”
"With accelerating sustainability risks, accessing standardized and reliable ESG data and benchmarks has never been more important to investors,” said Sander Paul van Tongeren, Co-founder and Managing Director at GRESB. “It’s inspiring to witness the collective industry effort from around the world to improve ESG transparency and advance sustainable real assets.”
About GRESB
GRESB is a mission-driven and investor-led organization providing standardized and validated Environmental, Social and Governance (ESG) data to the capital markets. Established in 2009, GRESB has become the leading ESG benchmark for real estate and infrastructure investments across the world. In 2020 alone, more than 1,200 real estate portfolios reported to GRESB covering more than 96,000 assets. Our coverage for infrastructure includes more than 540 infrastructure portfolios and assets. Combined, the reported assets represent US $5.3 trillion AUM. The data is used by more than 100 institutional and financial investors to monitor investments across portfolios and navigate the strategic choices needed for the industry to transition to a more sustainable future.
Learn more at GRESB.com.
About Tallgrass Energy
Tallgrass Energy, LP is a growth-oriented midstream energy infrastructure company operating across 11 states with transportation, storage, terminal, water, gathering and processing assets that serve some of the nation’s most prolific crude oil and natural gas basins.
To learn more, please visit us at www.tallgrassenergy.com.
Investor and Financial Inquiries
Andrea Attel, 913-928-6012
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or
Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
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Success comes with industry-leading optimization solution following buyout of SMA earlier in the year
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the worldwide leader in Flex-MLPE (Module Level Power Electronics), announced today that Charged Up Energy has chosen Tigo’s Optimizers and SMA inverters as its preferred UL PV Rapid Shutdown System (PVRSS) for residential PV customers. This offering comes following the buyout of an SMA investment by Tigo’s management team in the summer of 2020. The California installer will use the TS4-A-O with any one of the 18 different SMA single phase inverter models, ranging from 3 kW to 7.7 kW that have been UL PVRSS certified with Tigo’s industry leading rapid shutdown devices.
“Charged Up Energy is pleased to offer homeowners in California the highest quality installations with the most reliable products on the market.” stated Ivan Reyes, Founder and Chief Operations Officer Charged Up Energy “When combined with SMA inverters, Tigo’s Optimizer provides homeowners with the peace of mind that they have a safe installation that maximizes their return on investment while allowing us, as the installer, the ability to monitor their installation 24/7 and provide them the best possible service.”
The UL listing includes the entirety of Tigo’s TS4 family of Flex-MLPE, providing customers that use SMA inverters significant flexibility with the features they want from their MLPE. With Tigo, customers have the freedom to choose from a menu of features – such as optimization, monitoring, or just the rapid shutdown function – according to the needs of their project.
“We are pleased to offer installers like Charged Up Energy the ability to provide the homeowner with a safe and high-quality renewable energy investment,” said JD Dillon, Tigo’s Chief Marketing Officer. “The combination of the Tigo Optimizer solution with SMA’s comprehensive line of inverters is perfect for the residential market.”
Tigo Optimizers include optimization, monitoring, and rapid shutdown features in a reliable package that requires no additional ground wire or bolts. Tigo Optimizers have been UL PVRSS certified with the following single phase SMA inverters (listed by capacity and model number):
The UL PVRSS certification is the only guaranteed way to fulfill the safety requirement for PV Rapid Shutdown in the US National Electrical Code, whereby both the inverter and the rapid shutdown device must be tested as a “system”. Rapid shutdown devices are now required with rooftop PV installations across the vast majority of the United States. Similar requirements are being adopted and discussed throughout the world.
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About Tigo
Tigo is the worldwide leader in Flex-MLPE (Module Level Power Electronics) with innovative solutions that significantly enhance safety, increase energy production, and decrease operating costs of photovoltaic (PV) systems. Tigo’s TS4 platform maximizes the benefit of PV systems and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on 7 continents and produce gigawatt hours of reliable, clean, affordable and safe solar energy daily. Tigo's global team is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Visit us at www.tigoenergy.com.
About Charged Up Energy
Charged Up Energy, Inc. is a solar sales and installation company that operates in the United States and around the world. Headquartered in Los Angeles, Charged Up Energy offers services such as solar panel sales, installation, operations, maintenance, and affiliate sales along with excellent customer service throughout Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, Rhode Island. Charged Up Energy’s experience spans from residential PV systems to utility scale international developments.
John Lerch
408.402.0802 x430
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The 2020 virtual awards ceremony recognizes notable contributions to standards development in various industries and technologies
PISCATAWAY, N.J.--(BUSINESS WIRE)--#StandardsDevelopment--IEEE, the world's largest technical professional organization dedicated to advancing technology for humanity, and the IEEE Standards Association (IEEE SA) today announced the recipients of the 2020 IEEE Standards Association (IEEE SA) awards. The annual awards ceremony, available online as a virtual ceremony for 2020, recognizes entities and individuals for their leadership and participation in standards development.
IEEE standards are developed by volunteer working group participants to drive technological innovation, inspire market-relevant solutions, support interoperability, and benefit industry and humanity, all of which make the world a better, safer, and more sustainable place. Innovators from around the world are encouraged to collaborate in standards development and related activities through IEEE SA’s open, neutral, and consensus-based platform.
“Market-driven innovations and solutions have emerged across the technology spectrum thanks to the IEEE SA awards honorees who have dedicated their time and effort to developing a diverse set of excellent standards,” said Robert S. Fish, president of the IEEE SA. “We would like to extend our sincere gratitude to these innovators for their exceptional contributions to IEEE SA’s mission of raising the world’s standards for the benefit of humanity.”
IEEE SA awards are bestowed upon eligible individuals, IEEE SA members, and/or member organizations.
The 2020 IEEE SA Awards categories and recipients are:
IEEE SA Conformity Assessment Award for leadership and commitment toward designing and operationalizing the IEEE 2030.1.1 Electric Vehicle Charging Conformity Assessment Program:
IEEE SA Emerging Technology Award for the development of IEEE Std 802.1CM™-2018, IEEE Standard for Local and Metropolitan Area Networks—Time-Sensitive Networking for Fronthaul, the first IEEE standard to connect a cellular network’s radio equipment to its remote controller via a packet network; in particular, over a bridged IEEE 802.3™ Ethernet network:
IEEE SA Lifetime Achievement Award for continued energy, persistence, and dedication to inclusiveness of scientific thought through participation and leadership in the IEEE International Committee on Electromagnetic Safety (ICES) across almost five decades:
IEEE SA Lifetime Achievement Award for dedicated and enthusiastic service and active engagement on the IEEE Standards Association Standards Board and its committees for more than 25 years, for outstanding leadership in promoting technology and standards development in the solid-state lighting industry, and in recognition of 61 years of continuous IEEE membership:
IEEE SA Standards Medallion for exceptional skill in championing the standardization development of time-sensitive networking:
IEEE SA Standards Medallion for leadership and contributions to the development of standards in the field of distributed energy resource integration:
IEEE SA Standards Medallion for ongoing leadership and contributions to the development of IEEE transformer standards and the standards development process:
IEEE SA Standards Medallion for leadership in standards and technology roadmapping in power electronics:
Related Award:
Ron Waxman Design Automation Standards Committee (DASC) Meritorious Service Award in recognition of outstanding service exemplifying the spirit of the DASC:
For additional information, visit the IEEE SA Awards website to watch the 2020 virtual awards ceremony or obtain additional information about IEEE SA awards.
To learn more about IEEE SA or about any of its many market-driven initiatives, visit us on Facebook, follow us on Twitter, connect with us on LinkedIn, or on the Beyond Standards Blog.
About the IEEE Standards Association
IEEE Standards Association (IEEE SA) is a collaborative organization where innovators raise the world's standards for technology. IEEE SA provides a globally open, consensus-building environment and platform that empowers people to work together in the development of leading-edge, market-relevant technology standards, and industry solutions shaping a better, safer and sustainable world. For more information, visit https://standards.ieee.org.
About IEEE
IEEE is the world’s largest technical professional organization dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, and professional and educational activities, IEEE is the trusted voice in a wide variety of areas ranging from aerospace systems, computers, and telecommunications to biomedical engineering, electric power, and consumer electronics. Learn more at https://www.ieee.org.
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SAN ANTONIO--(BUSINESS WIRE)--#midstream--EnCap Flatrock Midstream (“EnCap Flatrock”) is pleased to announce the promotions of Matthew R. Melton and Kyle Stelma to vice president.
“Since they joined EnCap Flatrock in 2017, Matt and Kyle have each demonstrated a strong work ethic and a deep understanding of our business model and goals,” said EnCap Flatrock Midstream Managing Partner and Founder Bill Waldrip. “They are very capable leaders with strong financial skill sets and a proven commitment to helping our portfolio companies succeed. We are excited to watch them continue to grow as they take on increased responsibilities.”
Prior to joining EnCap Flatrock Midstream in 2017, Mr. Melton was an investment banking associate in the Global Energy Group at Citigroup in Houston, where he focused on M&A advisory work as well as public and private capital raises. Prior to Citi, Mr. Melton was a senior analyst working in the Goldman Sachs Asset Management group. Mr. Melton holds a Bachelor of Science in kinesiology from the University of Texas and an MBA from the University of Chicago Booth School of Business. He is a member of EnCap Flatrock’s charitable giving committee, the advisory board of the Salvation Army of San Antonio, the McCombs Energy Initiative associate advisory council at the University of Texas at Austin, and the Psi Alpha Chapter of Omega Psi Phi Fraternity Incorporated.
Kyle Stelma also joined EnCap Flatrock in 2017. He previously served as an analyst in the energy investment banking group at Jefferies LLC in Houston, where he focused on M&A advisory work as well as public and private capital raises in the energy sector. Mr. Stelma holds a Bachelor of Business Administration in finance from Texas A&M University. He is a member of EnCap Flatrock’s charitable giving committee. Mr. Stelma and his wife sponsor children through SAMMinistries, a nonprofit organization that works to prevent homelessness in San Antonio.
About EnCap Flatrock Midstream
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
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Agreement Positions EIG for Potential Future Investments in Brazilian Gas Infrastructure
RIO DE JANEIRO & WASHINGTON--(BUSINESS WIRE)--EIG Global Energy Partners (“EIG”) today announced it has signed a definitive agreement with Fluxys for the sale of EIG’s approximately 27.5% stake in Transportadora Brasileira Gasoduto Bolívia-Brasil (“TBG”). TBG owns and operates the Brazilian section of the Bolívia-Brazil pipeline (“GASBOL”), an approximately 2,600 km (1,600 mile) natural gas pipeline system, including the main natural gas transportation network in the south of Brazil. GASBOL is capable of transporting up to 30 million cubic meters per day (1.1 billion cubic feet per day) of natural gas from Bolivia and Brazil’s offshore pre-salt fields to key markets in Brazil. The sale is expected to close in approximately two months following satisfaction of certain conditions precedent. EIG and Fluxys will also explore further strategic cooperation in Brazil’s gas infrastructure market.
EIG has invested in the Brazilian energy market for more than two decades, with EIG-managed funds committing over $2 billion to energy-related infrastructure projects in Brazil in the last ten years alone. With a focus on long-term fundamentals, EIG has taken strategic positions in key Brazilian energy and infrastructure assets. In addition to GASBOL, EIG has invested in Gas Natural Açu (“GNA”), an operational LNG terminal, natural gas and power hub with 6.4GW of gas-fired power under development at the Port of Açu. GNA is a partnership with BP and Siemens and has entered into binding agreements with State Power Investment Corporation of China to join as an additional partner subject to satisfaction of certain conditions precedent. Through GNA, EIG is investing in GASINF, GASOG and GASOFF, three natural gas pipelines capable of connecting offshore pre-salt gas and LNG to Brazil’s gas transportation network, ultimately including GASBOL, through a connection with NTS. EIG also owns a controlling interest in the Port of Açu through its investment in Prumo, which controls Brazil’s only privately held deep-water port capable of handling the largest oil tankers, known as VLCCs. Açu Petroleo has exported over 200 million barrels of pre-salt crude oil, has a maximum capacity of 2.1 million barrels per day and is developing a crude oil storage tank farm and two additional pipelines connecting the terminal to the crude oil transportation network in Rio de Janeiro state. In addition to oil, gas and power, EIG’s comprehensive strategy in Brazil includes renewables and low carbon investments through a “Green Hub” under development at the Port of Açu.
R. Blair Thomas, EIG’s Chief Executive Officer, said, "We are thrilled to have reached agreement with Fluxys for the sale of our interest in TBG. It has been a privilege to support the growth and development of GASBOL, critical infrastructure that delivers natural gas to key markets in Brazil, including Sao Paulo and the industrial regions in the southeastern part of the country. This investment underscores our dual commitment to supporting growth and development in this important region of the world while creating value for our investors. Today’s sale positions the EIG portfolio for additional opportunities in Brazil, and we look forward to partnering with Fluxys where possible.”
Pascal De Buck, Chief Executive Officer of Fluxys, said, “We look forward to joining the existing shareholders of TBG and developing our cooperation with EIG in Brazil’s gas infrastructure market. It is important to continue the development of TBG’s key infrastructure, which is capable of providing Brazil with roughly one-third of its daily natural gas supply. Our aim is to bring to TBG’s Board our industrial experience with gas infrastructure in regulated environments and support the progress of the company through this knowledge sharing.”
Mr. Thomas continued, “Looking ahead, we believe that the market dynamics for natural gas infrastructure in Brazil are very favorable, positioning the sector for extraordinary growth. We remain committed to the ongoing strategic relationships we have established with Fluxys and our partners in Brazil.”
Santander acted as financial advisor to EIG in connection with the transaction, and Paul Hastings and Stocche Forbes served as EIG’s legal advisors. Citi acted as financial advisor for Fluxys, and Linklaters and Mattos Filho served as Fluxys’ legal advisors.
About Transportadora Gasoduto Bolívia-Brasil
Transportadora Gasoduto Bolívia-Brasil (“TBG”) owns and operates a 2,593 km pipeline system, responsible for providing the uninterrupted flow of up to 30 million cubic meters per day of Brazilian and Bolivian natural gas, spanning the states of Mato Grosso do Sul, São Paulo, Paraná, Santa Catarina, and Rio Grande do Sul in Brazil. TBG is one of Brazil’s three major gas pipeline operators, along with TAG and NTS, supplying regions that account for more than 50% of the country’s GDP. TBG is physically connected to seven distributors and thousands of end consumers in those regions, thereby integrating a very large market. With its own specialized technical staff, TBG is the only carrier in the country that manages its own operations and maintenance and is the pioneer of the “entry and exit” model in the Brazilian grid system.
About EIG Global Energy Partners
EIG Global Energy Partners (“EIG”) is a leading institutional investor to the global energy sector with $21.9 billion under management as of September 30, 2020. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 39-year history, EIG has committed over $34.4 billion to the energy sector through more than 360 projects or companies in 36 countries on six continents. EIG's clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG's website at www.eigpartners.com.
About Fluxys
Headquartered in Belgium, Fluxys is a fully independent gas infrastructure group with 1,200 employees active in gas transmission & storage and liquefied natural gas terminalling. Through its associated companies across Europe, Fluxys operates 9,000 kilometers of pipeline and liquefied natural gas terminals totaling a yearly regasification capacity of 29 billion cubic meters. Among Fluxys’ subsidiaries is Euronext-listed Fluxys Belgium, owner and operator of the infrastructure for gas transmission & storage and liquefied natural gas terminalling in Belgium. For additional information, please visit Fluxys’ website at fluxys.com.
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