Since 2000, Climate Investment Firm Has Financed More Than 600 Energy Savings Projects
ANNAPOLIS, Md.--(BUSINESS WIRE)--$HASI--Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong") (NYSE: HASI), a leading investor in climate solutions, today announced the company has exceeded $6 billion in energy efficiency investments from more than 600 individual transactions with leading behind-the-meter energy service companies serving federal, state, local and commercial energy efficiency markets since 2000.
Crossing the milestone $6 billion energy efficiency investment figure corresponds with the 20th anniversary of the creation of the company's pioneering Hannon Armstrong Multi-Asset Infrastructure Trust ("HannieMae"), the first securitization platform for financing energy efficiency at scale.
"The finance problem we solved 20 years ago addressed how to capture the pricing advantages of financing large energy projects for the benefit of smaller individual investments inherent in behind-the-meter assets like energy efficiency. HannieMae cracked the code for us two decades ago and continues to provide a means for private capital to fund energy efficiency at scale for the federal government in order to save the taxpayers money, reduce carbon emissions, create jobs, and improve the infrastructure and resiliency of the U.S.," said Hannon Armstrong Chairman and CEO Jeffrey W. Eckel. "We expect the incoming Biden administration will support further expansion and acceleration of one of America's most successful models for public-private partnerships."
Hannon Armstrong's total investments in energy efficiency projects have an average CarbonCount® score of 0.38 metric tons of CO2 equivalent ("CO2e") emissions avoided annually per $1,000 invested, as well as a WaterCount™ score of 658 gallons of water consumption avoided annually for every $1,000 invested. The estimated 21.2 million tons of CO2e avoided emissions over 20 years is equivalent to the amount of CO2e emissions from 116,390 rail cars of coal, which would stretch from Annapolis, Md. to Kansas City, Mo. when linked end to end. The 36.3 billion gallons of water consumption saved by these investments over the same period could fill three bathtubs for every person in the United States.
"The success of the HannieMae structure has provided a template for financing distributed technology at scale," said Hannon Armstrong Chief Investment Officer Nathaniel J. Rose. "Since closing the first HannieMae tranche in 2000, we have successfully leveraged the power of the structure to achieve this exciting milestone," added Rose.
Energy savings performance contracts ("ESPCs") allow federal agencies to procure energy efficiency measures and facility improvements with no up-front capital costs. According to the most current data from the Department of Energy, there are nearly $8 billion in identified energy conservation measures for federal agencies, which would save the government almost $800 million a year in energy and water-related costs. Implementing these measures would avoid approximately 3 million metric tons of CO2e emissions annually.
In addition to the ESPC structure used in the government sector, Hannon Armstrong utilizes a range of innovative methods for financing efficiency projects in the commercial and industrial sector, including Energy-as-a-Service, Energy Management-as-a-Service, and Commercial Property Assessed Clean Energy.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $6 billion in managed assets as of September 30, 2020, Hannon Armstrong's core purpose is to make climate-positive investments with superior risk-adjusted returns. For more information, please visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn and Twitter @HannonArmstrong.
Forward Looking Statements
Some of the information in this press release contains forward-looking statements and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," "target," or similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption "Risk Factors" included in our Annual Report on Form 10-K for our fiscal year ended December 31, 2019, which was filed with the U.S. Securities and Exchange Commission ("SEC"), as well as in other reports that we file with the SEC.
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.
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SAN JOSE, Calif.--(BUSINESS WIRE)--Tula Technology, Inc., a tech leader in improving propulsion efficiency and reducing emissions in passenger cars and commercial vehicles, announced that the one millionth vehicle utilizing its award-winning Dynamic Skip Fire (DSF®) technology was produced in November 2020. DSF technology modulates power output by dynamically firing or skipping each cylinder in response to torque demand, creating optimal engine efficiency and reduced emissions and fuel consumption. Tula’s proprietary technology is being used in the top-selling Cadillac Escalade, Chevrolet Silverado and Suburban, and the GMC Sierra and Yukon. In aggregate, DSF on these one million vehicles prevents up to one million tons of CO2 from being emitted annually when compared to conventional V8 engines.
“We’re excited to reach this milestone, which further validates our ongoing efforts to improve efficiency and reduce emissions in a cost-effective manner,” said R. Scott Bailey, CEO of Tula. “The increasing adoption of DSF and Tula’s controls technologies reflects the innovative culture at Tula, and our commitment to developing efficiency solutions across all propulsion types.”
Tula partners with OEMs to provide a transformational bridge to a future of clean, efficient automotive propulsion. Following the success of its control philosophy in DSF, Tula’s engineers have developed diesel DSF (dDSF), which has been proven to reduce NOx and CO2 emissions in diesel-powered vehicles, and Dynamic Motor Drive (DMD), which maintains electric motor operation near peak efficiency, allowing for extended range, reduced battery requirements, and motor cost reductions for electric vehicles.
“It’s been a pleasure to work with Tula on the development and implementation of this groundbreaking technology that delivers greater efficiency and reduced emissions in our full-size SUVs and full-size pickups,” said Matthew Tsien, Chief Technology Officer of General Motors and President of GM Ventures. “The joint cooperation of Tula and GM engineers has resulted in fuel-saving solutions for our customers and advances our global sustainability goals.” GM Ventures was an early investor in Tula and a development partner for Tula’s DSF technology, known as Dynamic Fuel Management (DFM) in GM applications.
Tula’s first DSF innovation reached proof of concept internally in 2011 and with GM in 2014. The company has global scale, engaging with OEMs in the U.S., Europe, and Asia to launch the production of numerous models in both the passenger and commercial markets in the coming years.
About Tula Technology, Inc.
Silicon Valley-based Tula Technology provides innovative award-winning software controls to optimize propulsion efficiency and emissions across the mobility spectrum, including gasoline-powered, diesel, alternative fuel, hybrid, and electric vehicles. Tula’s culture of innovation has resulted in breakthrough technology and a robust global patent portfolio of 140+ patents and another 120+ patents pending. Tula Technology is a privately held company backed by Sequoia Capital, Sigma Partners, Khosla Ventures, GM Ventures, BorgWarner, and Franklin Templeton. More information is available at www.tulatech.com.
Tula Technology, Inc.
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today that it has launched an underwritten public offering (the “Offering”) of $150.0 million of shares of its Class A common stock (“Common Stock”). The underwriter has agreed to purchase all of the shares offered and the Company intends to grant the underwriter an option to purchase up to an additional $22.5 million of shares of Common Stock. The Company expects to use the net proceeds from the Offering for general corporate purposes.
Morgan Stanley is acting as sole underwriter for the Offering.
The Offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the registration statement (including a base prospectus) and the preliminary prospectus supplement related to the Offering may be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Copies of the registration statement (including the base prospectus) and the preliminary prospectus supplement relating to the Offering can be accessed free of charge through EDGAR on the U.S. Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov. A prospective investor should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering before investing.
This press release shall not constitute an offer to sell or the 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.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The Company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the Company’s anticipated use of the net proceeds from the Offering and other statements regarding the Offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE #RNG--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced new and extended contracts for more than 58 million gallons of Redeem™ renewable natural gas (RNG) to accommodate the continued demand for the sustainable fuel from key business segments including heavy duty trucking, solid waste and public transit.
“Our customers have continued to operate their essential businesses at a very high level, despite significant challenges from the COVID-19 pandemic,” said Nate Jensen, senior vice president renewable fuels, Clean Energy. “This means that essential employees are able to get to work, refuse is collected every day, and goods movement continues uninterrupted throughout the U.S. Our customers have demonstrated their commitment to sustainable transportation by enthusiastically embracing our ultra-low carbon Redeem RNG. In response, we have significantly augmented our supplies of Redeem RNG and expect to provide ever-increasing volumes of the clean, sustainable fuel to our customers.”
Clean Energy’s Redeem was the first commercially available RNG vehicle fuel, derived from capturing the biogenic methane produced by the decomposition of organic waste from dairies, landfills, and wastewater treatment plants. Redeem reduces climate-harming greenhouse gas emissions by at least 70 percent, and even up to 300 percent depending on the source of the RNG, making it a negative carbon fuel.
Food Express
Specializing in the transportation of food grade dry bulk commodities in the Western U.S., Food Express, Inc., based in Arcadia, CA has contracted Clean Energy to build a station in Maywood, CA that will deliver an estimated 4.7 million gallons of Redeem for its fleet of 60 RNG trucks. The deal also includes an operations and maintenance agreement for the station, which is expected to be completed by mid-2021.
“We’re pleased to work with Clean Energy on construction of a new fast fill station in Maywood, California,” said Food Express President Kevin Keeney. “Building a station that is dedicated to our fleet will provide more seamless access to ultra-low-carbon RNG and will further our company’s sustainable transportation goals.”
Adopt-A-Port
Pacific Green Trucking, Inc., which operates drayage vehicles in the Ports of Los Angeles and Long Beach, is adding 39 new RNG trucks to its fleet through the Chevron and Clean Energy partnership Adopt-A-Port program. In migrating from diesel fuel to RNG, Pacific Green has committed to an approximate 2.3 million gallons of Redeem.
“Switching trucks to fuel with Renewable Fuels is vital to improving air quality and fighting climate change in our country’s largest port complex,” said Greg Roche, vice president, Clean Energy. “We’re proud to see our partnership with Chevron on the Adopt-a-Port in action to put cleaner, carbon-negative trucks on the road and lessen the environmental impact on operations in the region.”
Rolling with RNG
CR&R Environmental Services has renewed a contract for an anticipated 20 million gallons of Redeem to fuel over 200 CNG waste and recycling trucks at its Garden Grove and Perris stations. This volume is expected to increase as CR&R completes replacement of more diesel trucks in the coming years.
In San Juan Capistrano, CA, CR&R has extended a separate contract for an expected 9 million gallons of Redeem to power over 100 LNG waste and recycling trucks.
Waste Connections, the third largest waste company in North America, has inked a multi-year extended supply contract for an approximate 8 million gallons of Redeem to meet its growing RNG truck fleet needs. A long-term customer of Clean Energy, Waste Connections has expanded its fleet of 110 waste trucks to 100 percent RNG at its San Jose hauling company.
“RNG is a low-carbon alternative to diesel that provides numerous environmental and economic benefits,” said Paul Nelson, Division Vice President of Waste Connections. “Our RNG trucks perform well, don’t require significant infrastructure development, and support the broader environmental objectives of the customer base we serve. Fueling our fleet with Redeem provides us a long term GHG solution for the market and helps us achieve our corporate sustainability goals.”
Long-time Clean Energy customer Atlas Disposal, a waste hauling company based in Sacramento, has signed a multi-year extension contract for an anticipated 10 million gallons of Redeem across their two stations – Sacramento and San Jose.
“When it comes to alternative fuel technology, there is no better solution than natural gas trucks from a performance, emissions and cost benefit perspective. And when those trucks use RNG, it’s a game changer for the market,” said Dave Sikich, president, Atlas Disposal. “Being good stewards of the environment was one of the pillars on which Atlas Disposal was founded, so we are proud of our commitment to be a 100% RNG company across all our fleet operations. RNG is the best low-carbon solution for companies like ours.”
Big Blue Bus, the transit agency that services one of the most environmentally conscious cities in Los Angeles County, Santa Monica, CA, has extended its Redeem fueling contract with Clean Energy for an anticipated 4 million gallons of RNG to fill its bus fleet, one of the largest in the nation.
Zero Now
Linden Bulk Transportation LLC, a subsidiary of Odyssey Logistics & Technology Corporation, has added two new natural gas trucks to its fleet through Clean Energy’s Zero Now program. The offering brings the price of a natural gas truck at parity with a diesel truck, while offering a guaranteed fuel discount for the duration of the agreement.
The new CNG tractors will fuel with an estimated 20,000 gallons of CNG and are the first in Linden’s plan to add more natural gas trucks to the Odyssey fleet.
“Natural gas powers more than 12 million vehicles on the road today – and for good reason,” said Michael Salz, president of Linden Bulk Transportation. “Companies like Odyssey use natural gas tractors to reduce smog-forming emissions and pollutants and better align with carbon footprint and sustainability goals.”
National Cement, based in Encino, CA, has purchased 15 new RNG concrete mixers through Clean Energy’s Zero Now program, with a multi-year fuel agreement for an anticipated 675,000 gallons of Redeem.
The Town of Smithtown on Long Island, NY has again required the use of natural gas refuse trucks in its city refuse franchise and signed a corresponding term extension for Clean Energy’s fueling services. Clean Energy has signed Zero Now agreements with the four new solid waste and recycling companies serving the Town, including Alpha Carting, T&D, Total Collection and Winters Bros., for a total 22 trucks with a multi-year fueling contract for an estimated 1.3 million gallons of natural gas.
Expanded Fueling Services
Denver International Airport has signed a multi-year extended contract for an estimated 7.5 million gallons of natural gas to fuel airport ground transportation. Six airport stations provide fuel for natural gas buses, maintenance pick-up trucks and baggage tugs.
Clean Energy has signed a supply agreement with AmeriGas for an anticipated initial 1.1 million gallons of fuel which is expected to grow substantially in 2021 and beyond. AmeriGas has several customers in Mexico for industrial use purposes as pipeline gas is not readily available.
U.S. Concrete has signed a fuel agreement for 360,000 gallons of CNG at Clean Energy stations within the five boroughs of New York City to fuel 42 of its natural gas ready mix trucks.
With the assistance of federal grant funding, Jacksonville Transportation Authority (JTA) replaced eight diesel buses with new natural gas units. These additional buses will support JTA’s sustainability efforts by eliminating diesel buses that emit higher CO2 emissions. Since 2015, Clean Energy has provided fueling services to JTA, which currently consumes an estimated 1.2 million gallons of natural gas annually.
The City of Surrey, B.C., Canada, recently announced the completion and commissioning of a new natural gas station. This station, which was built and will now be operated by Clean Energy, will fuel the City’s natural gas municipal vehicle fleet using an estimated 250,000 gallons of natural gas.
Livermore Sanitation in California has signed an agreement for a station upgrade and operations and maintenance services to power its fleet of 40 natural gas trucks.
The City of Mesa, Arizona signed a multi-year contract with Clean Energy for an anticipated 800,000 gallons a year to fuel 80 refuse and other City trucks.
About Clean Energy
Clean Energy Fuels Corp. is North America’s leading provider of the cleanest fuel for the transportation market. Through its sales of Redeem™ renewable natural gas (RNG), which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas by at least 70% and even up to 300% depending on the source of the RNG. Clean Energy can deliver Redeem through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns natural gas liquefication 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.
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 amounts of RNG expected to be consumed 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.
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Seven-year fixed-rate time charter with Equinor Shipping extends long-term contract and distribution coverage
ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has agreed to acquire KNOT Shuttle Tankers 34 AS, the company that owns the shuttle tanker, Tove Knutsen, from Knutsen NYK Offshore Tankers AS (“KNOT”) (the “Acquisition”). The purchase price of the Acquisition is $117.8 million, less $93.1 million of outstanding indebtedness and will be financed on a non-dilutive basis using cash on hand and borrowings under KNOP’s existing revolving credit facility.
The Tove Knutsen is a 153,000-deadweight ton DP2 Suezmax class shuttle tanker, built by Hyundai Heavy Industries and delivered in September 2020. The vessel is operating in Brazil under a seven-year time charter with Equinor Shipping Inc., providing fixed-rate firm employment through to at least the fourth quarter of 2027. The charterer has options to further extend the charter for up to 13 additional years. On closing, the Tove Knutsen will become the Partnership’s seventeenth vessel.
The Acquisition was approved by the Partnership’s Board and independent Conflicts Committee (who were supported by an outside independent financial advisor), and the Acquisition is expected to close by December 31, 2020, subject to customary closing conditions.
New $25 Million Revolving Credit Facility
The Partnership also announced that it has entered into a new $25 million revolving credit facility (the “Facility”) with Shinsei Bank, Limited. The Facility will be available to the Partnership until November 2023 and can be prepaid at any time. The margin payable on the Facility is lower than the Partnership’s current average margin of 2.1% over LIBOR.
Outlook
Gary Chapman, CEO of the Partnership, commented, “We are pleased to return to growth with a dropdown that materially strengthens KNOP’s long-term contract coverage and provides a further layer of stability and support for our consistent distribution without diluting our existing equity. The cashflow from this newly acquired vessel provides significant forward visibility and will help support distribution coverage for our unitholders in the years ahead. We are also proud to welcome Shinsei Bank to our lender group, further diversifying our access to capital with the addition of another leading Japanese financial institution.”
“Beyond our recent Q3 earnings release we have no further developments to report on the Windsor Knutsen or the Bodil Knutsen, with the current firm charter on the Bodil Knutsen running to around May 2021. Looking forward, with visibility on large, multi-year oil major capex commitments principally in offshore Brazil and the North Sea, a global orderbook for new shuttle tankers that is fully contracted and high barriers to entry for any potential new competitors, we believe that the Partnership is well positioned to benefit from the long-term growth prospects in this niche market segment where KNOP and our sponsor, KNOT, are together the market leader.”
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP.”
Forward-Looking Statements
This press release contains certain forward-looking statements concerning future events and the Partnership’s operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “believe”, “anticipate”, “expect”, “estimate”, “project”, “will be”, “will continue”, “will likely result”, “plan”, “intend” or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the Partnership’s control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to:
All forward-looking statements included in this release are made only as of the date of this release. New factors emerge from time to time, and it is not possible for the Partnership to predict all of these factors. Further, the Partnership cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. The Partnership does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Partnership’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.
KNOT Offshore Partners LP
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Karen Lee and Nathan Partain Offer Vast Experience from Multiple Industries
PORTLAND, Ore.--(BUSINESS WIRE)--NW Natural Holding Company’s (NYSE: NWN) board of directors has elected two new board members, Karen Lee and Nathan Partain, effective January 1, 2021.
For the past 10 years, Karen Lee has served as CEO of Pioneer Human Services, a nonprofit social-enterprise business based in Seattle, which operates several for-profit businesses to help fund its social mission to assist individuals with criminal histories lead healthy and productive lives. Prior, she served as commissioner of the Washington State Employment Security Department, and held several leadership roles at Puget Sound Energy including director of Gas Operations. She also was an associate attorney at K&L Gates LLP in Seattle, and spent four years as an officer in the U.S. Army.
Lee holds a J.D. from the University of Washington School of Law. She is a graduate of the United States Military Academy at West Point, where she earned a B.S. with a concentration in Russian Studies and a minor in Engineering. She currently serves as a trustee at Western Washington University, a director at W. Lease Lewis Company, and a director of the Federal Reserve Bank of San Francisco. She is also a member of the Washington Statewide Reentry Council and the Regence Blue Shield advisory board. Lee has been named a “40 Under 40” honoree and one of “Seattle’s Women of Influence” by the Puget Sound Business Journal, and received an “Executive Excellence” award from Seattle Business Magazine.
Nathan Partain is president and co-chief investment officer of Duff & Phelps Investment Management Co. Previously, he was with Duff & Phelps Investment Research Co. where he was the director of utility, equity and fixed income research. Partain is also president, CEO and a member of the board of directors of DNP Select Income Fund Inc., Duff & Phelps Utility and Corporate Bond Trust Inc., DTF Tax-Free Income Inc., and Duff & Phelps Utility and Infrastructure Fund Inc. Prior, he held financial and regulatory positions with Gulf States Utilities Company. Partain has announced his retirement from Duff & Phelps Investment Management Co. at the end of 2020.
Partain is chairman of the board of Otter Tail Corporation. He is a National Association of Corporate Directors (NACD) board leadership fellow. He earned a BS and MBA from Sam Houston State University. Partain is a Chartered Financial Analyst (CFA) and a member of the CFA Society of Chicago.
“We’re excited to welcome Karen and Nathan to our board. Their deep industry expertise, combined with the breadth of leadership within their respective industries will strengthen our board’s collective knowledge and capabilities,” said Scott Gibson, NW Natural Holdings’ board chairman.
Lee and Partain were also elected to the board of directors of Northwest Natural Gas Company (NW Natural), the company’s wholly owned subsidiary, starting January 1, 2021.
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and through its subsidiaries has been doing business for over 160 years in the Pacific Northwest. It owns Northwest Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), and other business interests and activities.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through nearly 770,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. NW Natural Water currently serves approximately 65,000 people through about 26,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
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LONDON--(BUSINESS WIRE)--#gasdistribution--BizVibe is continuing to expand the number of companies which can be discovered and tracked within their natural gas distribution category offering. Users can browse unlimited company profiles, allowing them to discover 1,000+ natural gas distribution companies, spanning across 75+ countries, which are categorized into 20+ product and services. Discover Companies for Free
Companies listed under this classification are primarily engaged in any of the following activities; operating gas distribution systems, buying gas from wells and selling it to a distribution system, arranging the sale of gas over gas distribution systems operated by others, and/or transmitting and distributing gas to final consumers. BizVibe’s detailed company profile insights help users to discover, track, evaluate, and connect with natural gas distribution companies from all over the world.
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DUBLIN--(BUSINESS WIRE)--The "Digital Oilfield Market by Process, by Component - Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Digital Oilfield Market was valued at USD 23.97 billion in 2019 and is expected to reach USD 38.90 billion by 2030, expanding at a CAGR of 4.5%, during the forecast period, from 2020 to 2030.
Digital oilfield, also known as digitization of oilfield, entails the automation of various upstream, midstream, and downstream oilfield activities. It involves advanced software and various data analysis technique that help provide better outputs and improved profitability. Digital oilfields offer various other advantages including the ease in finding oil and gas reserves, improved safety, environmental protection, and optimized production of hydrocarbons. They deploy various resources to offer efficient and cost-effective outcomes.
Market Dynamics and Trends
Improvements and modernization of activities undertaken in oil fields, technological advancements, infrastructure developments for cost-efficiency, and rising demand for crude oil from various industries are expected to drive the growth of the digital oilfield market.
Additionally, increasing investment by market players and rise in population boosting the consumption of fuel are contributing to the market growth. However, increase in cyber-attacks and data security concerns are hampering the market. Conversely, rise in collaborations among market participants, new product launches and software upgrades are expected to create opportunities in the market.
Competitive Landscape
Key players in the global digital oilfield market include Emerson Electric, General Electric, Weatherford International, Schlumberger, Halliburton, Baker Hughes, Sinopec Oilfield Service, Honeywell International, Siemens, National Oil well Varco, Pason Systems, and International Business Machines (IBM).
Key Topics Covered:
1. Introduction
1.1. Report Description
1.2. Research Methodology
2. Market Snapshot, 2019-2030 Million USD
2.1. Market Snapshot
3. Porter's Five Force Model Analysis
4. Market Dynamics
4.1. Growth Drivers
4.2. Challenges
4.3. Opportunities
5. Global Digital Oilfield Market, by Process
5.1. Overview
5.2. Reservoir Optimization
5.3. Drilling Optimization
5.4. Production Optimization
5.5. Other Process
6. Global Digital Oilfield Market, by Component
6.1. Overview
6.2. Hardware
6.3. Software
6.4. Services
7. Global Digital Oilfield Market, by Region
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ou8s83
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today the pricing of its previously announced private offering of $250 million aggregate principal amount of additional 6.750% senior secured notes due 2025 (the “Additional Notes”). The Additional Notes will be issued at an issue price equal to 105.25% of principal, plus accrued interest from and including September 2, 2020. There are $1,000.0 million 6.750% senior secured notes due 2025 outstanding as of the date hereof. The Company intends to use the net proceeds from the offering for general corporate purposes. The closing of the offering is subject to certain limited conditions.
The Additional Notes and the guarantees thereof were offered in the United States to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States under Regulation S under the Securities Act. The Additional Notes and the guarantees thereof will not be registered under the Securities Act or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the consummation of the offering or the Company’s anticipated use of the net proceeds from the offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
IR:
Alan Andreini
(212) 798-6128
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Joshua Kane
(516) 268-7455
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Media:
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After successful deployment with a Fortune 100 customer, ClearTrace to scale adoption of its financial technology and enhanced carbon accounting platform
AUSTIN, Texas--(BUSINESS WIRE)--ClearTrace, a software company that provides automated energy and carbon accounting for investors, enterprises, and real estate owners, announced today it has raised $4 million in Series A financing, led by Clean Energy Ventures, a venture capital firm focused on early-stage climate tech innovations. Brookfield Renewable Partners and Clean Energy Venture Group also participated in the round.
ClearTrace’s carbon accounting platform brings transparency to corporate carbon reduction by enabling auditable, around-the-clock monitoring of energy generation and consumption. ClearTrace creates verifiable digital records of energy usage and can track third party energy supply, financial power purchase agreements, demand response activities, and true multi-stakeholder management of behind-the-meter energy assets. ClearTrace uses best-in-class cloud technology to digitize the entire energy supply chain and deliver granular, high fidelity, real-time carbon impact data from energy-related activities.
“Companies of all sizes are seeking to reduce their carbon impact due to new regulations and increasingly intense advocacy from employees, customers and investors. Yet, a key challenge for these companies is the ability to truly verify, validate and account for their overall environmental and carbon footprint,” said Daniel Goldman, Managing Director and Co-founder at Clean Energy Ventures. “A high degree of accountability and reporting is essential as companies work to decarbonize to help solve the climate crisis. ClearTrace has built the premier, auditable carbon and energy reporting platform, and we’re eager to support its further growth to enable more companies to track and reduce their carbon footprint.”
ClearTrace has a growing customer base and is targeting multinational corporations, financial service companies, real estate holding companies and competitive energy suppliers who can use this technology to verify and prove the attributes of the energy they both generate and consume.
“ClearTrace is looking to fundamentally change how energy and environmental information is managed and to do away with the disparate, siloed and archaic incumbent processes that dominate the market. Our goal is to accelerate the decarbonization of human activity and increase the adoption of sustainable and renewable energy through a technology platform that is fully automated, immutable and verifiable,” said Lincoln Payton, CEO at ClearTrace. “We have built the energy data system for the future. No other platform today has created the full scope of energy and technology solutions that we provide, allowing leading global organizations like JPMorgan Chase and Brookfield Renewable to digitally track energy data from generation to consumption in a way that can be easily understood and audited by regulators, investors and other stakeholders.”
ClearTrace will use the funding to accelerate growth and deploy additional market-driven solutions to a broad base of enterprises and asset managers who require high-speed, digital data to meet their sustainability targets.
ClearTrace, formerly known as swytchX, recently undertook a rebrand to represent this new phase of growth and accelerate market adoption. Previous investors include the company’s founders and the Fund for Sustainability and Energy (Fund4SE), a Singapore-based sustainability investment fund.
About ClearTrace
ClearTrace is an energy, data and technology company streaming secure energy data to the world of energy management, ESG reporting, and corporate sustainability. ClearTrace’s digital assets represent the purest form of proof and immutability for the real world impact of energy generation. ClearTrace allows companies to stand behind their claims of carbon reductions, sustainability, and renewable energy to prevent greenwashing and provide a source of truth for corporate decarbonization. For more information, please visit cleartrace.io or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
About Clean Energy Ventures
Clean Energy Ventures is a venture capital firm investing in early-stage advanced energy technologies and business model innovations that are ready to address global climate risks. The firm's principals – serial entrepreneurs and investors who have backed more than 30 companies – have been investing in, supporting, and mentoring early-stage climate tech startups together since 2005. Learn more at cleanenergyventures.com.
ClearTrace, Katie Ullmann Durham This email address is being protected from spambots. You need JavaScript enabled to view it.
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Not for Distribution to United States Newswire Services or for Dissemination in the United States
TORONTO--(BUSINESS WIRE)--Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today announced voting results of its 2020 Annual and Special Meeting of Shareholders held today, December 15, 2020.
A total of 102,567,843 common shares or 25.82% of Sherritt’s issued and outstanding common shares were represented virtually or by proxy at the meeting. Shareholders voted in favour of all items of business put forth at the meeting, including the re-appointment of Deloitte LLP as external auditors and the non-binding advisory resolution known as “Say on Pay.” Sherritt elected to withdraw the resolution presented in the management information circular seeking shareholder approval for a proposed share consolidation.
Election of Directors
On a vote by ballot, each of the seven director nominees listed in the management information circular for the 2020 Shareholders’ meeting were elected as directors of Sherritt to serve until the next annual general meeting of the company:
Nominee |
Total Votes
|
% for |
Total Votes
|
% Withheld |
Timothy Baker |
86,043,696 |
87.72% |
12,047,140 |
12.28% |
Maryse Belanger |
83,093,945 |
84.71% |
14,996,891 |
15.29% |
Sir Richard Lapthorne |
64,078,823 |
65.33% |
34,012,013 |
34.67% |
Adrian Loader |
64,027,450 |
65.27% |
34,063,386 |
34.73% |
Lisa Pankratz |
87,138,407 |
88.83% |
10,952,429 |
11.17% |
David Pathe |
84,279,078 |
85.92% |
13,811,758 |
14.08% |
John Warwick |
87,887,693 |
89.60% |
10,203,143 |
10.40% |
The full Report of Voting Results has been filed on SEDAR at www.sedar.com.
About Sherritt
Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects and operations in Canada and Cuba. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.
Joe Racanelli, Director of Investor Relations
Telephone: 416-935-2457
Toll-Free: 1-800-704-6698
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www.sherritt.com
DUBLIN--(BUSINESS WIRE)--The "Refining Industry Outlook in Africa to 2024 - Capacity and Capital Expenditure Outlook with Details of All Operating and Planned Refineries" report has been added to ResearchAndMarkets.com's offering.
The total refining capacity of Africa in 2019 was 3,712 mbd. The refining capacity in Africa increased from 3,498 thousand barrels of oil per day (mbd) in 2014 to 3,712 mbd in 2019 at an AAGR of 1.2 percent. It is expected to increase from 3,712 mbd in 2019 to 5,766 mbd in 2024 at an AAGR of 8.8 percent. Egypt, Algeria, South Africa, Nigeria, and Libya are the key countries in Africa accounting for over 78.3 percent of the total refining capacity of the region in 2019.
Scope
Reasons to Buy
Key Topics Covered:
1. Introduction
2. Africa Refining Industry
2.1. Africa Refining Industry, Overview of Active Refineries Data
2.2. Africa Refining Industry, Total Refining Capacity
2.3. Africa Refining Industry, Overview of New-Build and Expansion Projects
2.4. Africa Refining Industry, New-Build and Expansion Projects
2.5. Africa Refining Industry, New Units and Capacity Expansions by Key Countries
3. Refining Industry in Egypt
3.1. Refining Industry in Egypt, Crude Distillation Unit Capacity, 2014-2024
3.2. Refining Industry in Egypt, Coking Unit Capacity, 2014-2024
3.3. Refining Industry in Egypt, Catalytic Cracker Unit Capacity, 2014-2024
3.4. Refining Industry in Egypt, Hydrocracking Unit Capacity, 2014-2024
3.5. Recent Developments
3.6. Recent Contracts
4. Refining Industry in Algeria
4.1. Refining Industry in Algeria, Crude Distillation Unit Capacity, 2014-2024
4.2. Refining Industry in Algeria, Condensate Splitter Unit Capacity, 2014-2024
4.3. Refining Industry in Algeria, Catalytic Cracker Unit Capacity, 2014-2024
4.4. Refining Industry in Algeria, Hydrocracking Unit Capacity, 2014-2024
4.5. Recent Developments
4.6. Recent Contracts
5. Refining Industry in South Africa
6. Refining Industry in Nigeria
7. Refining Industry in Libya
8. Refining Industry in Morocco
9. Refining Industry in Sudan
10. Refining Industry in Cote d'Ivoire
11. Refining Industry in Angola
12. Refining Industry in Cameroon
13. Refining Industry in Ghana
14. Refining Industry in Djibouti
15. Refining Industry in Tunisia
16. Refining Industry in Senegal
17. Refining Industry in Gabon
18. Refining Industry in the Congo Republic
19. Refining Industry in Equatorial Guinea
20. Refining Industry in Niger
21. Refining Industry in Chad
22. Refining Industry in Zimbabwe
23. Refining Industry in South Sudan
24. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/c6ol1r
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, priced an upsized offering of $750 million in aggregate principal amount of 6.000% senior unsecured notes due 2030 at an offering price equal to 100% of par (the “Notes Offering”).
The Notes Offering is expected to close December 22, 2020, subject to satisfaction of customary closing conditions. TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund a concurrent cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.75% Senior Notes due 2023 (the “2023 Notes”), to redeem the 2023 Notes that remain outstanding following the consummation of the Tender Offer, and to redeem $250 million principal amount of its outstanding 5.50% Senior Notes due 2024. The Tender Offer is being made pursuant to an Offer to Purchase dated December 15, 2020.
The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. TEP plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
About Tallgrass Energy
Tallgrass Energy is a leading energy and 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.
Investor and Financial Inquiries
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Media and Trade Inquiries
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MADRID & LONDON--(BUSINESS WIRE)--I Squared Capital, a leading global infrastructure investment manager, announces that it has entered into an agreement to sell Grupo T-Solar to Cubico Sustainable Investments Ltd, the renewable energy specialist jointly owned by Ontario Teachers’ Pension Plan and PSP Investments, for a total enterprise value of €1.5 billion.
“Our objective during our stewardship of T- Solar was to improve operations, grow the platform and establish T-Solar as a leader in renewables energy in Spain. We will continue to invest globally in renewables generation as well as transition energy in both industrial and growth economies,” said Sadek Wahba, Chairman of Grupo T-Solar and Managing Partner of I Squared Capital.
A leading European renewables platform, Grupo T-Solar has 274 megawatts of installed and regulated capacity in Spain and Italy with growth prospects underpinned by a 1.4-gigawatt pipeline of solar photovoltaic projects.
Marta Martinez Queimadelos, CEO of T-Solar stated that, “Under I Squared Capital’s ownership, Grupo T-Solar grew from 168 to 274 megawatts of installed capacity in Europe, and recently completed one of the largest financings in the Spanish renewable energy market of €568 million through a landmark green bond issue.”
Last year alone, Grupo T-Solar’s projects generated over 602 gigawatt-hours of clean electricity and avoiding over 216,000 tons of CO2 emissions.
Mohamed El Gazzar, Partner of I Squared Capital in London stated, “To date we have invested in approximately 600 megawatts of operating renewable assets and have a pipeline of close to 3 gigawatts of various technologies including onshore and offshore wind, solar, storage, and anerobic digestion. We are also focusing on improving the energy efficiency of our assets across the sectors we invest in and providing solutions for security of power, which is critical in addressing the intermittent nature of renewable generation.”
About I Squared Capital:
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, digital infrastructure, transport and social infrastructure in the Americas, Europe and Asia. The firm has offices in Miami, Hong Kong, London, New Delhi, New York, and Singapore. The firm has $19.3 billion in assets under management and owns and operates a diverse portfolio of 26 companies. For more information, please visit: http://www.isquaredcapital.com/
Media contacts
Spanish media:
Brunswick Group LLP for I Squared Capital
Pilar Teixeira
+44 207 404 5959
Maria Mier Portillo
+44 207 404 5959
International and trade media:
Brunswick Group LLP for I Squared Capital
Fiona Micallef-Eynaud / Ed Brown / Inez Vilar
+44 207 404 5959
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I Squared Capital Investor Relations
Andreas Moon, Managing Director
+1 (786) 693-5739
With the theme of “Empowering the Development of Safe & Secure Embedded Systems,” the sixth edition of ESSS will feature live sessions on the latest in aerospace & defense, automotive, industrial and medical
BENGALURU, India--(BUSINESS WIRE)--#ARMEmbedded--LDRA, in collaboration with industry partners and associations, today announced the inaugural virtual edition of the sixth-annual Embedded Safety & Security Summit to be held on June 17, 2021. This international summit is an initiative that sheds light on the growing significance of implementing safe and secure practices and technologies in embedded systems.
With the theme of “Empowering the Development of Safe & Secure Embedded Systems,” the virtual ESSS conference will provide an exclusive arena for the global embedded community to learn, interact and nurture relationships. The virtual platform will have a distinctive online event experience with deep-dive technical sessions, interactive lobby areas and the right mix of networking opportunities.
Highlights of #ESSS21Virtual include:
“In these unprecedented times, this virtual conference is an opportunity for embedded safety and security ecosystem stakeholders to stay connected,” said Ian Hennell, Operations Director at LDRA UK. “Together, we can provide the outstanding technology content and business opportunities that have been hindered by the current climate.”
Shinto Joseph, Director - South East Asia Operations, LDRA added, “Since 2015, ESSS has successfully brought together the global embedded community to explore the latest advancements, topics, and imminent technologies. While we’d all prefer to meet in person, this virtual gathering will enable us to continue to share our expertise, learn about new advancements, and network from wherever we are. We look forward to sharing more details about #ESSS21Virtual with everyone as we get closer to this exciting event.”
For more information on sponsorship opportunities, paper submission and registration for #ESSS21Virtual, visit www.embedded-safety-security.com.
About LDRA
For more than 40 years, LDRA has developed and driven the market for software that automates code analysis and software testing for safety-, mission-, security-, and business-critical markets. Working with clients to achieve early error identification and elimination, and full compliance with industry standards, LDRA traces requirements through static and dynamic analysis to unit testing and verification for a wide variety of hardware and software platforms. Boasting a worldwide presence, LDRA has headquarters in the United Kingdom, United States, Germany, and India coupled with an extensive distributor network. For more information on the LDRA tool suite, please visit www.ldra.com.
About ESSS®
Focusing on the safety and security aspects of critical embedded systems, the Embedded Safety & Security Summit (ESSS) is an exclusive arena for the whole embedded community to learn, interact and nurture. LDRA drives this successful initiative with support from partners, clients, industrial & professional bodies and government agencies. Learn more at www.embedded-safety-security.com
Kelly Wanlass, HCI Marketing and Communications Inc., Media Relations
Tel: +1 (801) 602-4723, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Mark James, LDRA, Marketing Manager
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Energy Partners, LP (“TEP”) announced today that, subject to market conditions, it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, intend to offer $500 million aggregate principal amount of senior unsecured notes due 2030 in a private placement to eligible purchasers (the “Notes Offering”).
TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund a concurrent cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.75% Senior Notes due 2023 (the “2023 Notes”), and to redeem any 2023 Notes outstanding after completion of the Tender Offer. The Tender Offer is being made pursuant to an Offer to Purchase dated December 15, 2020.
The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. TEP plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
About Tallgrass Energy
Tallgrass Energy is a leading energy and 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.
Investor and Financial Inquiries
Andrea Attel, (913) 928-6012
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or
Media and Trade Inquiries
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Reactive Technologies joins Accenture Ventures’ Project Spotlight program
Forms strategic alliance to help accelerate the commercialization of grid data for utilities
NEW YORK--(BUSINESS WIRE)--Accenture (NYSE: ACN) has made a strategic investment, through Accenture Ventures, and formed a strategic alliance with Reactive Technologies, a London-based provider of power and grid technology, to help utilities accelerate the transition to low-carbon energy.
According to a new report from the International Energy Agency, renewable energy will become the largest source of electricity generation worldwide in 2025, and data and digital technology will be key enablers for this shift. To effectively integrate the surge in renewables, power grids will need more visibility over network conditions to accurately balance the grid and manage inertia, or system strength. Reactive Technologies offers measurement, real-time analytics and data services that can help grid operators and other energy market players address these challenges.
“As electricity production from wind and solar continues to grow, the share of variable renewables in the production mix is likely to present stability challenges for utilities to balance their grids,” said Stephanie Jamison, a senior managing director who leads Accenture’s utilities business. “We believe Reactive Technologies’ innovative technology solutions can help improve critical decision making by moving from models to measurement. Coupled with Accenture’s experience in the utilities business, our Industry X business’ focus on grid-balancing expertise and our global reach, these services can accelerate the creation of the utility of the future. This type of collaboration is key to helping our clients achieve their sustainability and business goals.”
Maikel van Verseveld, managing director, Accenture Industry X, added, “Reactive Technologies’ patented measurement solutions and scalable cloud platform, combined with high-resolution edge computing devices, enable a digital network twin for simulating operations. This allows network operators to measure grid inertia and system stability in real-time. This convergence of communications, information and operating technology embeds new levels of intelligence in the operations of utilities, offering clients untapped potential for making the grid more stable, safe and efficient.”
Reactive is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software businesses to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain expertise and its enterprise clients, to harness human creativity and deliver on the promise of new technology. Through the program, Reactive Technologies will co-innovate with Accenture and its clients at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to bring solutions to market more quickly and more effectively.
“Through unique measurement technologies, the fundamental challenges of managing grid stability with ever increasing amounts of renewable energy being deployed can now be solved,” said Marc Borrett, CEO of Reactive Technologies. “Through GridMetrix®, critical grid parameters can be captured accurately and continuously for grid operators, transmission or distribution, national or regional. This will enable them to be properly equipped to better manage grid stability risks, save money, invest smarter, and integrate more renewable energy in the power system. Working with Accenture helps us to operate on a global basis with a local presence and support our offering with their full suite of technical and commercial delivery capabilities.”
Tom Lounibos, managing director, Accenture Ventures, added, “Our investment and alliance with Reactive Technologies brings to life Accenture Ventures’ commitment to cultivating the latest technologies, enhanced by human ingenuity. Reactive Technologies’ solutions solve some of the most critical business needs of our utilities clients, which will only become more complex in the future."
Reactive Technologies is the latest addition to the investment portfolio of Accenture Ventures, which is focused on investing in companies that create or apply disruptive enterprise technologies.
Terms of the investment were not disclosed.
About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 506,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.
Accenture helps organizations across the utilities value chain embrace change to accelerate growth and the energy transition while providing safe, reliable, affordable and sustainable energy. To learn more, visit Accenture’s Utilities industry portal.
About Reactive Technologies
Reactive Technologies is an innovative UK and Finland based cleantech company whose mission is to accelerate the transition to a low carbon future. Reactive enable this with unique, patented data measurement and analytics for Transmission System Operators (TSOs) and Distribution Network Operators (DNOs) that address the energy industry’s greatest challenges. Reactive’s services enable TSOs, DNOs and energy market participants to operate more effectively, with lower risk and cost exposure as greater renewable generation is deployed, used and traded across power systems globally. Reactive Technologies’ commercial partnership with National Grid ESO follows successful innovation projects proving GridMetrix® unique ability to accurately measure power grid inertia directly, a technological world first. Reactive has been awarded a number of accolades including being named in the 2018 Cleantech Group ‘Ones to Watch’ list which features exciting up-and-coming companies globally. To find out more, please visit www.reactive-technologies.com.
Guy Cantwell
Accenture
+1 281 900 9089
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Oliver Williams
Caroline Cutler
Ntobeko Chidavaenzi
Reactive Technologies (via FTI)
+44 20 3727 1000
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) was recognized by CDP with a ‘B’ score for its commitment to transparency and governance around climate change, ranking above the sector (oil and gas storage and transportation) average of ‘C’ and exceeding the North American regional average of ‘D’. Williams’ score signifies the company is taking coordinated action on climate change.
"As the first North American midstream company to set aggressive and actionable climate targets, Williams is committed to addressing climate change in a pragmatic and economically feasible manner across our operations, and we hold ourselves accountable through transparent interactions with customers, employees and shareholders," said Alan Armstrong, president and chief executive officer. "This recognition from CDP demonstrates that Williams is on the right track to successfully sustain and evolve our natural gas-focused business to reduce emissions and build a clean energy economy while delivering long-term value to stakeholders.”
CDP's annual disclosure and scoring process is a widely recognized measure of strong corporate environmental transparency and performance. This is the first year Williams participated in the full disclosure and scoring process through the CDP climate change questionnaire.
Williams’ focus on sustainable performance is recognized in other key rankings for 2020, including:
Williams continues to take an active industry role in demonstrating real and sustainable achievements in ESG reporting by co-leading an initiative though the Energy Infrastructure Council (EIC) to launch the first-ever Midstream Company ESG Reporting Template that allows midstream energy infrastructure companies to present their sustainability metrics that matter most to investors in a transparent and comparable way.
ESG Analyst Event scheduled for Jan. 19
Williams will host a virtual ESG event on Tuesday, Jan. 19, 2020, from 9 a.m. to 11:30 a.m. CT, to discuss its ESG performance, climate commitment and forward-looking strategy for sustainable operations. Additional information on this event will be shared in early January.
To read the company’s 2019 Sustainability Report, visit https://www.williams.com/sustainability/climate-commitment/.
To learn more about Williams’ climate commitment visit https://www.williams.com/climate-commitment/.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
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(800) 945-8723
INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075
Virtual power plant platforms can optimize EV charging and support the discharge of EV batteries to aid the electricity grid during peak demand
BOULDER, Colo.--(BUSINESS WIRE)--#EVCharging--A new report from Guidehouse Insights analyzes unidirectional (V1G) and bidirectional (V2G) smart charging applications for grid services, as managed through virtual power plants (VPP) software platforms, providing global market forecasts for capacity, implementation spending, and revenue, through 2029.
The deployment of EVs can cause strain on localized grid infrastructure, particularly as higher numbers of EVs connect to the grid to charge during periods of peak demand. A VPP platform can optimize EV charging and potentially support the discharge of EV batteries to assist the electricity grid during periods of peak demand. Click to tweet: According to a new report from @WeAreGHInsights, in 2020, a total of 261.5 MW is expected to support VGI-based VPPs. This capacity will likely scale more than tenfold to 29.9 GW by 2029.
“The symbiotic relationship between VPP platform solutions and plug-in EV (PEV) adoption has led to an understanding of vehicle grid integration (VGI) as one of the next frontiers in smart device management,” says Jessie Mehrhoff, research analyst with Guidehouse Insights. “VPPs work to achieve the greatest possible profit for distributed energy resources (DER) asset owners while maintaining the proper balance of the electricity grid at the lowest possible economic and environmental cost.”
Over the next decade, a growing portion of VGI capacity is expected to integrate with VPP platforms to provide flexible capacity in response to price signals through 2029. V2G solutions remain a nascent market at the start of the forecast period, and V1G solutions are anticipated to contribute to the bulk of VGI-based VPP capacity over the forecast period; however, Guidehouse Insights expects that V2G-based capacity will grow globally at a compound annual growth rate (CAGR) of 83.1% from 2020-2029.
The report, VPP Applications for Managed EV Charging Platforms, analyzes both unidirectional (V1G) and bidirectional (V2G) smart charging applications, as managed through VPP software platforms. The study provides an analysis of market trends, including drivers and barriers, and a regional overview of developments in VGI-based VPP deployment. Global market forecasts for capacity, implementation spending, and revenue, broken out by region and customer segment, extend for both V1G- and V2G-based VPPs through 2029. The study also includes case studies to illustrate global R&D of VGI-based VPP solutions. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges with a focus on markets and clients facing transformational change, technology-driven innovation and significant regulatory pressure. Across a range of advisory, consulting, outsourcing, and technology/analytics services, we help clients create scalable, innovative solutions that prepare them for future growth and success. Headquartered in Washington DC, the company has more than 7,000 professionals in more than 50 locations. Guidehouse is led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, VPP Applications for Managed EV Charging Platforms, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today that it intends to offer $250 million aggregate principal amount of additional 6.750% senior secured notes due 2025 (the “Additional Notes”) in a private offering, subject to market conditions. There are $1,000.0 million 6.750% senior secured notes due 2025 outstanding as of the date hereof. If consummated, the Company intends to use the net proceeds from the offering of the Additional Notes for general corporate purposes.
The Additional Notes and the guarantees thereof will be offered in the United States to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States under Regulation S under the Securities Act. The Additional Notes and the guarantees thereof will not be registered under the Securities Act or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the consummation of the offering or the Company’s anticipated use of the net proceeds from the offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
IR:
Alan Andreini
(212) 798-6128
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Joshua Kane
(516) 268-7455
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Jake Suski
(516) 268-7403
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