Headquartered in Austin, Texas, new firm’s team will continue to advise on all energy investments made at Trilantic North America
AUSTIN, Texas--(BUSINESS WIRE)--Trilantic North America, a leading, growth-focused private equity firm, announced today the spinout of its energy team and formation of a new, independent firm called Greenbelt Capital Partners (“Greenbelt”).
Greenbelt will formally launch on January 1, 2022, and will be headquartered in Austin, Texas, while maintaining an additional presence in New York. The firm, named after the outdoor recreational parkland in Austin, will be led by Chris Manning, who currently serves as one of the Managing Partners of Trilantic North America. Chris will be joined by Glenn Jacobson, Andy Hopping, Chris Murphy, Sam Graham, and the rest of the Trilantic North America energy team. Trilantic North America will continue to support all of Greenbelt’s operational functions.
“Our senior team members have been working together since the early 2000s, and we have continually evolved our focus areas within the broader energy complex,” said Chris Manning, CEO of Greenbelt. “As technologies have developed and renewable power has become more affordable, we have found many more investable opportunities beyond traditional energy, including subsectors such as industrial and residential solar, battery storage, vehicle electrification and software required to meet the needs of energy customers. We look forward to further exploring these avenues while working closely alongside our existing portfolio companies.”
Glenn Jacobson, Managing Partner, added, “We are thrilled to keep building on the tenets we started with at Lehman Merchant Banking 20 years ago and believe our strong value creation processes will help us continue to identify attractive risk-reward opportunities.”
“Chris and the team have done a tremendous job establishing a premier energy investing franchise with notable transactions in the oil and gas industry, midstream infrastructure and, more recently, energy transition landscape,” said Charlie Ayres, Chairman and Managing Partner of Trilantic North America. “We are proud to support this exciting next step for the energy team and look forward to working together.”
About Trilantic North America
Trilantic Capital Management L.P. ("Trilantic North America") is a growth-focused middle market private equity firm focused on control and significant minority investments in North America. Trilantic North America's primary investment focus is in the business services and consumer sectors. Trilantic North America has managed six private equity fund families with aggregate capital commitments of $9.7 billion. Trilantic North America has been recognized by Inc. Magazine’s 2021 list of Top Founder-Friendly Investors and has been named one of Growthcap’s 2021 Top 25 Private Equity Firms for Growth Companies. For more information, visit www.trilanticnorthamerica.com.
About Greenbelt Capital Partners
Greenbelt Capital Partners is a growth-focused middle-market private equity firm focused on control and significant minority investments ranging from late-stage growth equity to private equity to infrastructure development. The senior team at Greenbelt has committed approximately $4.6 billion of equity capital across multiple portfolio companies and consummated over $58 billion of M&A and financings in over 210 transactions across the portfolio. For more information, visit www.greenbeltcapital.com.
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TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY, FSE:2LF) (“Greenland Resources” or the “Company”) is pleased to announce that Ms. Nauja Bianco, M.Pol.Sci has been appointed as a Non-Executive Director on the Company’s Board of Directors, effective immediately. Ms. Bianco will specifically help the Company on the social and governmental relations in respect of the development of the Malmbjerg Molybdenum Project in east Greenland.
Nauja Bianco was born and raised in the capital of Nuuk, Greenland. She currently resides in Copenhagen, Denmark, and is the Chief Executive Officer of the North Atlantic House & The Greenlandic House in Odense, Denmark. Nauja has had a career in diplomacy and international relations as Chief Consultant for Greenlandic & Arctic Affairs at the Ministry of Foreign Affairs in Denmark and as the Advisor for Arctic and Environmental Affairs at the Nordic Council of Ministers in Copenhagen. Nauja has also worked for the Government of Greenland at the Greenland Representation to the European Union in Brussels, Belgium; and for the Department for Culture, Education, Research and Ecclesiastical Affairs in Greenland. Nauja has also taught at Ilisimatusarfik, the University of Greenland in Nuuk. Nauja holds a Bachelor’s Degree (1998-2001) and a Master’s Degree (2002-2004), both in Political Science from the University of Aarhus, Denmark.
Dr. Ruben Shiffman, Chairman, founder commented: “Nauja represents the best of Greenland. She has spent her entire professional career helping the people of Greenland, including the people on the east coast where her family is from and where our Malmbjerg Molybdenum Project is located. As the regulatory and social side of the project moves swiftly and according to plan, Nauja will help ensure the project aligns with the values and needs of the people in Greenland, creating a positive contribution to their lives.”
Ms. Nauja Bianco said: “I’ve been following Greenland Resources Malmbjerg project for a while and I am delighted to join their Board of Directors. My role is to create awareness about the economic needs and the needs of the people at large and how to best approach the Greenlandic society in going forward with the project. I’m happy to build this type of bridge between Greenland and Canada and, hope to add value to the work of Greenland Resources Inc.”
Qualified Person Statement
Mr. Jim Steel, P.Geo., M.B.A., a Qualified Person under National Instrument 43-101 has reviewed and approved the technical information in this press release.
About Greenland Resources Inc.
Greenland Resources is a Canadian reporting issuer with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned world-class Climax type pure molybdenum deposit located in central east Greenland. The Malmbjerg molybdenum deposit has pit-constrained Measured and Indicated Resources of 281 million tonnes at 0.18% MoS2, for 661 million pounds of contained molybdenum metal (Tetra Tech, 2021). The Malmbjerg project benefits from a 2008 Feasibility Study completed by Wardrop (now Tetra Tech), an Environmental and Social Impact Assessment (SRK, 2007), an engineering optimization Concept Study (DRA, 2019) and had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our web site (www.greenlandresources.ca) as well as our Canadian regulatory filings on Greenland Resources’ profile at www.sedar.com
About Molybdenum and the European Union
Molybdenum is a metal used mainly in steel and chemicals that is needed in all technologies in the upcoming green energy transition (World Bank, 2020; IEA, 2021). When added to steel and cast iron, it enhances strength, hardenability, weldability, toughness, temperature strength, and corrosion resistance. Based on data from the International Molybdenum Association and the European Commission Steel Report, the world produced around 546 million pounds of molybdenum in 2020 where the European Union (“EU”) as the second largest steel producer in the world used approximately 25% of global molybdenum supply and has no domestic molybdenum production. To a greater degree, the EU steel dependent industries like the automotive, construction, and engineering, represent around 18% of the EU’s ≈ US$16 trillion GDP. Greenland Resources Malmbjerg molybdenum project has the potential to supply in and for the EU approximately 25 million pounds per year, of environmentally friendly molybdenum from a responsible EU Associate member country, for decades to come.
CAUTIONARY STATEMENT: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan” and include, but are not limited to, statements with respect to: future opportunities, future operating and capital costs, timelines, permit timelines, and the ability to obtain the requisite permits, economics and associated returns of the Malmbjerg molybdenum deposit, the technical viability of the Malmbjerg molybdenum deposit, the market and future price of and demand for molybdenum, the environmental impact of the Malmbjerg molybdenum deposit, and the ongoing ability to work cooperatively with stakeholders, including the local levels of government. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a Feasibility Study which recommends a production decision, the preliminary nature of metallurgical test results, difficulties with building fruitful government and societal relationships, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, the ability to anticipate and counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation the effects of COVID-19 on the capital markets, commodity prices, supply chain disruptions, restrictions on labour and workplace attendance and local and international travel, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Ruben Shiffman, PhD Chairman, President
Keith Minty, P.Eng, MBA Engineering and Project Management
Jim Steel, P.Geo, MBA Exploration and Mining Geology
Nauja Bianco, M.Pol.Sci. Public and Community Relations
Gary Anstey Investor Relations
Corporate office Suite 1410, 181 University Av. Toronto, Ontario, Canada M5H 3M7
Telephone +1 647 273 9913
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Web www.greenlandresources.ca
Partnership advances Voltus’s mission to be the technology platform that fulfills the promise of the energy transition
SAN FRANCISCO & OAKLAND--(BUSINESS WIRE)--Voltus, Inc., the leading distributed energy resource (DER) software technology platform, announces today its partnership with energy technology solutions provider WattTime. With access to WattTime’s cutting-edge technology, Voltus can now offer customers visibility into the avoided emissions impact of their DER program participation. Access to emissions data will identify new ways for customers to leverage load curtailment and ideally, automated load shifting, to directly impact environmental challenges and maximize emissions reductions.
“Curtailing load in support of grid reliability often results in meaningful levels of avoided emissions by decreasing energy demand during peak hours, when the grid can be powered by dirtier resources,” explains Gavin McCormick, Co-founder and Executive Director at WattTime. “We’re excited to partner with Voltus and evaluate how their customers’ curtailment strategies can be further optimized to deliver the most impactful emissions reductions.”
Gregg Dixon, Voltus’s CEO and Co-Founder explained, “Our mission at Voltus is to be the technology platform that fulfills the promise of the energy transition. Quantifying our customers’ emissions impact and empowering them to utilize their load flexibility to contribute to a cleaner grid is a crucial piece of this. WattTime’s data shows, for example, that one of our large New York real estate customers has avoided 136 metric tons of carbon dioxide by participating in DER programs with Voltus. This is equivalent to 150,000 pounds of coal burned. We are eager to leverage WattTime’s data across our entire portfolio in order to maximize the emissions reduction benefits of our customers’ DERs.”
About Voltus, Inc.
Voltus, Inc. (“Voltus”) is the leading platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and grid services partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
Voltus previously announced an agreement for a business combination with Broadscale Acquisition Corp. (“Broadscale”) (Nasdaq: SCLE), which is expected to result in Voltus becoming a public company listed on the Nasdaq in the first half of 2022, subject to customary closing conditions.
About WattTime
WattTime is an environmental tech nonprofit that empowers all people, companies, policymakers, and countries to slash emissions and choose cleaner energy. Founded by UC Berkeley researchers, we develop data-driven tools and policies that increase environmental and social good, including Automated Emissions Reduction and emissionality. WattTime is also the convening member and cofounder of the global Climate TRACE coalition. During the energy transition from a fossil-fueled past to a zero-carbon future, WattTime ‘bends the curve’ of emissions reductions to realize deeper, faster benefits for people and the planet. For more information, visit https://watttime.org.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, revenue and other metrics planned products and services, business strategy and plans, objectives of management for future operations of Voltus, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet Nasdaq's listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s Form S-1 (File Nos. 333-252449 and 333-253016), Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021 and registration statement on Form S-4 with the SEC, which will include a document that serves as a prospectus and proxy statement of Broadscale, referred to as a proxy statement/prospectus and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.
Use of Projections
This press release may contain financial forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected financial information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements” above. Actual results may differ materially from the results contemplated by the projected financial information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.
Additional Information and Where to Find It
This press release relates to a proposed transaction between Broadscale and Voltus. Broadscale intends to file a registration statement on Form S-4 with the SEC, which will include a document that serves as a prospectus and proxy statement of Broadscale, referred to as a proxy statement/prospectus. A proxy statement/prospectus will be sent to all Broadscale stockholders. Broadscale also will file other documents regarding the proposed transaction with the SEC. Before making any voting decision, investors and security holders of Broadscale are urged to read the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the Securities and Exchange Commission (the “SEC”) in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.
Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Broadscale through the website maintained by the SEC at www.sec.gov.
The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation
Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in Broadscale’s registration statement on Form S-4, which is expected to be filed by Broadscale with the SEC in connection with the business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to Broadscale’s stockholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus on Form S-4 for the proposed business combination, which is expected to be filed by Broadscale with the SEC in connection with the business combination.
No Offer or Solicitation
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Investor Relations Contact – Voltus
Sioban Hickie, ICR, Inc.
Eduardo Royes, ICR, Inc.
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Media Contact – Voltus
Cory Ziskind, ICR, Inc.
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The Tigo and Sungrow partnership drives solar adoption by bringing proven, high-quality, and compatible solutions to solar installers.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), today celebrates an installation milestone with its Tigo Enhanced inverter partner, Sungrow Power Supply Co., Ltd, the U.S. market leader for 3-phase string inverters. The partnership powers 50MW of Tigo Enhanced solar installations throughout North America in the commercial and industrial market and has generated significant co-marketing funds for Sungrow. Tigo Enhanced is a comprehensive partnership program that promotes partners who improve the installer experience with UL tested and integrated Tigo rapid shutdown, energy monitoring, and optimization technologies.
The Tigo Enhanced partnership program formalizes collaboration on technical integrations, product certification, customer support, and marketing with major inverter companies. Sungrow joined the Tigo Enhanced partnership program in October 2020 and has integrated more than 2,200 Tigo Rapid Shutdown System (RSS) Transmitter units into its inverters. Sungrow’s industry-leading commercial inverters have been deployed with hundreds of thousands of Tigo TS4 Flex MLPE products.
“Our work through the Tigo Enhanced program has allowed us to provide compatible, reliable solutions that simplify the installation process and give peace of mind to solar installers,” said Naveed Hassan, Director of External Affairs at Sungrow Americas. “With the built-in Tigo RSS Transmitter and UL Photovoltaic Rapid Shutdown System (PVRSS) certification, installers get rapid shutdown solutions for their projects that are simple to install and reliable.”
Tigo incentivizes its program partners to promote Tigo Enhanced inverters by allocating marketing funds for every inverter sold under the program. In addition, the Tigo Enhanced logo, displayed on Tigo Flex MLPE products and inverter partner products, creates a clear visual link of compatibility between devices. With 13 years of experience with MLPE and leadership in commercial and residential industries, Tigo is refining plug-and-play solar solutions and ensuring maximum performance and longevity for PV projects.
“Beyond developing solar hardware and software solutions, Tigo is on a mission to improve the solar industry through Tigo Enhanced by improving the installer experience in all aspects of the business,” says Dru Sutton, Vice President of Sales for North America at Tigo Energy. “The solar industry is at a critical stage of growth, and we must be proactive on all fronts to continue the adoption of solar power everywhere. We are pleased to have top-tier players like Sungrow active in the Tigo Enhanced program.”
The Tigo Enhanced program ensures compatibility across partner inverters and Tigo TS4 units to support solar installation performance and fulfill safety code requirements. All Tigo Enhanced Sungrow inverters are integrated with Tigo RSS Transmitters to communicate with Tigo TS-A-F and TS4-A-2F devices.
For inquiries, visit the Tigo Where to Buy page or contact the sales team directly here: https://www.tigoenergy.com/contacts
About Tigo Energy
Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar 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 seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.
About Sungrow
Sungrow Power Supply Co., Ltd. (“Sungrow”) is the world’s most bankable inverter brand with over 182 GW installed worldwide as of June 2021. Founded in 1997 by University Professor Cao Renxian, Sungrow is a leader in the research and development of solar inverters with the largest dedicated R&D team in the industry and a broad product portfolio offering PV inverter solutions and energy storage systems for utility-scale, commercial & industrial, and residential applications, as well as internationally recognized floating PV plant solutions. With a strong 24-year track record in the PV space, Sungrow products power installations in over 150 countries. Learn more about Sungrow by visiting www.sungrowpower.com.
Technica Communications
Gabrielle Reitano
(408) 806-9626 Ext. 9783
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Through this effort between Sunverge, PJM and Delmarva Power, the ELK Neck VPP project will be a real-world demonstration of how aggregated distributed energy resources will function under FERC Order 2222, setting the stage for greater wholesale market participation by DERs.
SAN FRANCISCO--(BUSINESS WIRE)--#DER--Sunverge, the provider of an industry-leading distributed energy resource (DER) control, orchestration, and aggregation platform, and Delmarva Power, an Exelon Company serving customers in Delaware and Maryland, today announced that they have entered into an agreement with PJM Interconnection (PJM) to explore how the Elk Neck Battery Storage Pilot Program will participate in the region’s wholesale market for ancillary services.
The project, a virtual power plant (VPP) with a planned capacity of .55 MW / 2.2 MWh, is anticipated to be fully operational by Q1 2022 and has received the necessary regulatory approvals from the Maryland Public Service Commission. The project will be the first battery energy storage residential VPP to participate in PJM’s wholesale market, providing benefits to both consumers and the grid.
“The local energy grid is an incredible interactive platform connecting our customers and communities to the energy services and clean energy choices they want,” said Doug Mokoid, Delmarva Power region president. “This agreement with PJM and Sunverge is a pivotal step in demonstrating just how dynamic the grid has become and our evolving role as a local energy company in integrating new technologies that directly benefit our customers and the broader regional energy system.”
“The Elk Neck Battery Storage Pilot Project will allow aggregated DER to test the markets under real-world market conditions, providing lessons for PJM and all its stakeholders in alignment with the spirit of FERC Order 2222,” said Eric Hsia, Senior Manager of Applied Innovation at PJM.
The Elk Neck pilot project will be one of the first energy projects that demonstrates the grid of the future including distributed energy resources operating and competing within federally regulated organized markets, providing an invaluable foundation for the market participation of distributed energy resources going forward.
“The Elk Neck VPP project partnership between Sunverge, Delmarva Power and PJM is an innovative approach that will demonstrate the value of Multi-service VPP’s, not only for consumers and utilities, but for the energy market more broadly,” said Martin Milani, CEO of Sunverge. “By participating in PJM’s ancillary wholesale market, Elk Neck project will demonstrate the path forward for Multi-service VPP’s participating in wholesale ancillary markets under FERC Order 2222 and add yet another multifaceted value stream for DERs. The Sunverge platform’s unique ability to simultaneously run multiple services with different priorities allows optimization for different services dynamically, under different grid and market conditions.”
About Sunverge
Energy provides the leading open dynamic platform for Virtual Power Plants (VPP), a grid-aware and dynamic power source built from the aggregation of behind-the-meter DERs (distributed energy resources). The Sunverge real time DER control and aggregation platform is unique in providing dynamic multi-objective optimization of services on both sides of the meter, helping customers with intelligent management of their own renewable energy generation and utilities with greater flexibility in managing their infrastructure investments, reducing generation costs, increasing system reliability, and meeting their renewable energy goals. Together with the Sunverge Infinity edge controller, the Sunverge VPP platform provides intelligent dynamic near real-time control over decentralized energy resources that is efficient, reliable, and responsive to utilities and their customers. For more information please visit http://www.sunverge.com/.
Media:
Jared Blanton
Antenna
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415.712.1417
New program features incentives, live advisors, vetted contractors, ambassadors and more
SAN FRANCISCO--(BUSINESS WIRE)--Today, the Building Decarbonization Coalition (BDC) and its partners launched the “Switch Is On“ campaign to help Californians switch from gas-powered to all-electric appliances. This campaign is the first of its kind in California, and hopes to serve as a template for similar programs across the nation. An all-electric home reduces health risks, contributes to a more resilient energy system, supports the state’s decarbonization goals, and in many cases can save money for homeowners.
“The only way California -- and the world at large -- will meet its climate goals will be to electrify our homes and businesses,” said Panama Bartholomy, executive director of the Building Decarbonization Coalition. “Modern electric appliances are cleaner, more efficient, and simply better than gas-powered alternatives. By sharing knowledge with everyday Americans and guiding them through the process of electrifying their homes, this campaign will catalyze the transformation to a cleaner, safer energy future.”
In addition to promoting regional and statewide incentives for electrification, the “Switch Is On“ campaign will educate, inspire, and support Californians who want to join the movement to electrify their homes. People can visit Switchison.org to speak one-on-one with home electrification advisors, find vetted contractors, get information on incentives and rebates, and find additional resources about home electrification.
The campaign’s statewide launch comes after a 2020 pilot program promoting electrification in the Bay Area and two years of market research. Through creative media, a grassroots ambassador program and a robust website, the campaign educates people about the value of swapping out gas-powered water heaters, dryers, cooktops and furnaces for electric alternatives, and provides information on a variety of incentives to support the switch. The campaign also educates homeowners about clean energy initiatives such as energy efficiency and weatherization, and related technologies like home solar and battery storage.
"The need to electrify everything is one of the most important climate narratives of our lifetime, and not enough people are talking about it," said Saul Griffith, co-founder of Rewiring America and author of Electrify!. "The Switch Is On campaign is a needed, timely and critical effort that will educate Californians about how they can electrify their lives with technology that already exists, and save money on their bills without sacrificing their lifestyles. It turns out that we can all do our part to address climate change by improving our personal infrastructure. We are excited to help the Building Decarbonization Coalition build this movement, and to promote the campaign’s success.”
“I couldn't be happier living in a decarbonized home,” said Ann Edminster of Petaluma. “The Switch Is On campaign will help Californians understand the benefits of swapping out their gas appliances for electric ones that are better for their health, convenience, and the environment. I have no hesitation recommending electrification to all my friends, neighbors, and family.”
The campaign is supported by TECH Clean California, a statewide initiative under the auspices of the California Public Utilities Commission (CPUC), designed to accelerate the adoption of clean space and water heating technology by providing incentives and training to support contractors electrifying homes. Additional campaign partners include Bay Area Air Quality Management District, the Bay Area Regional Energy Network (BayREN), East Bay Community Energy, Peninsula Clean Energy, Pacific Gas & Electric (PG&E), Southern California Edison (SCE), City of Santa Monica, City of San Jose, Silicon Valley Clean Energy, Central Coast Community Energy, Marin Clean Energy, Los Angeles Department of Water and Power (LADWP), and the Tri-Country Regional Energy Network (3C-REN).
The Switch Is On campaign can be found at www.switchison.org. All Californians — including homeowners, renters and contractors — are encouraged to go to the website to learn more and get support in electrifying their homes. Those who have already begun their electrification journey can join the campaign’s ambassador program here.
About The Building Decarbonization Coalition
Launched in 2018, the Building Decarbonization Coalition (BDC) forges public-private partnerships among government authorities, utilities, manufacturers, builders and other vital sector stakeholders. These diverse and dynamic partnerships drive the development of clean energy powered, zero-emission homes, commercial Buildings and communities.
Media:
Nia Evans
Media Senior Account Executive, Antenna
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415-316-7965
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NASDAQ: BKR), an energy technology company, has been awarded a contract with Santos, a leading natural gas producer in Australia, to supply turbomachinery equipment for the Moomba Carbon Capture and Storage (CCS) project (“Moomba CCS”). The project will serve a gas processing plant and permanently store 1.7 million tonnes of carbon dioxide annually in depleted natural gas reservoirs in the onshore Cooper Basin in South Australia. Baker Hughes will provide gas turbine, compressor and heat recovery steam generator (HRSG) technologies to compress the carbon dioxide (CO2).
The contract follows a 35+ year history of Baker Hughes providing technology and services to Santos for its operations, including turbomachinery and offshore equipment and services. Moomba CCS further progresses the companies’ relationship as Santos evolves its own operations across the energy transition and leverages Baker Hughes’ comprehensive portfolio of carbon capture, utilization, and storage (CCUS) solutions. Specifically, Baker Hughes will provide PGT25+G4 aeroderivative gas turbine, MCL compressor, and BCL compressor technology, which will enable Santos to compress CO2 captured at Moomba CCS for transportation and subsequent injection for storage.
Baker Hughes’ broader CCUS portfolio features advanced turbomachinery, solvent-based state-of-the-art capture processes, well construction and management for CO2 storage, and advanced digital monitoring and industrial asset management solutions.
“This project exemplifies the range of solutions that energy and industrial companies are seeking across the energy transition and how collaboration is needed to lower emissions and enhance efficiencies from their operations,” said Rod Christie, executive vice president of Turbomachinery & Process Solutions at Baker Hughes. “Through our advanced turbomachinery technology, we are supporting Santos to decarbonize natural gas while providing an opportunity to utilize CO2 as a valuable input for producing reliable energy with advanced blue hydrogen.”
The contract for Baker Hughes’ technology lays a foundation for Santos’ future objectives of decarbonizing natural gas, lowering emissions and ultimately producing hydrogen fuel using stored CO2. A final investment decision on the Moomba CCS project was reached in November 2021.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
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Addition of new LED lighting technology and infrastructure upgrades estimated to save Merthyr Tydfil County Borough £136,000 annually
FRAMINGHAM, Mass. & MERTHYR TYDFIL, Wales--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its partnership with Merthyr Tydfil Council on a £1.09 million energy conservation project. Ameresco’s partnership with Merthyr Tydfil Council expands the renewable energy company’s presence in the United Kingdom.
Known as the former “Iron Capital of the World,” Merthyr Tydfil is in the process of transforming itself into a modern commercial hub and smart city. With the help of Ameresco, the city council will look to provide solutions across the council’s 31 sites, including upgrades to the town’s aging infrastructure, optimizing the lifespan of the existing equipment, installing nine solar pv systems and 30 LED lighting upgrades, and implementing smart heating and hot water systems.
Implemented upgrades will reduce Merthyr Tydfil’s energy costs, cut carbon emissions and improve the internal environment of buildings for town residents. Once completed, the project is estimated to save the city £136,000 per year and reduce carbon emissions from buildings by 251 tonnes per year. Throughout the survey process, Ameresco adhered to Covid-19 safety protocols to ensure the safety of Merthyr Tydfil Council staff.
“With over one hundred properties in the council’s portfolio, and an energy spend in buildings of over £1.2 million per year, the potential benefits of this project could be significant,” said Judith Jones, chief officer of planning, engineering, estates and neighbourhood services at Merthyr Tydfil Council. “We are delighted to be working with Ameresco as our principal contractor on the project and look forward to optimising the energy efficiency of our properties, to improve the condition of our schools, reduce carbon emissions and save money.”
Improving the well-being and quality of life for Merthyr Tydfil’s residents is a key component of this energy conservation overhaul. The project also marks progress toward Merthyr Tydfil’s goal of reaching net zero carbon emissions by 2030, as outlined by the Welsh government.
“We are excited to help Merthyr Tydfil reach its goals of net zero carbon neutrality,” said Britta MacIntosh, Senior Vice President, Ameresco. “Through our partnership, we hope to not only cut energy costs, but improve the comfort levels for town staff and building users.”
Construction is expected to be completed in March 2022.
To learn more about the Merthyr Tydfil Council project, visit https://www.ameresco.com/portfolio-item/merthyr-tdyfil-council-uk/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Merthyr Tydfil Council
Merthyr Tydfil, one of the most historically fascinating and beautiful regions of Wales is ideally placed between Brecon Beacons National Park and Cardiff the Welsh Capital. It was once the most important town in Wales. Long before Cardiff became capital city and chief commercial centre, Merthyr Tydfil’s pioneering mass iron production made it the hub of Welsh industry, a crucible of innovation and at the very forefront of Britain’s industrial revolution. Merthyr Tydfil has a wealth of historical and cultural attractions: the magnificent Cyfarthfa Castle and Park, Parc Taff Bargoed nature reserve, museums, theatres, libraries, historic churches and chapels and incredible outdoor activity facilities – attracting over 1.7m visitors a year. Today’s Merthyr Tydfil is unbelievably well connected. Its location is one of its many strengths: at the crossroads of Wales’s major transport routes – the A470 South to North Wales trunk road and the A465, the main artery linking Swansea to the Midlands. The effects of climate change are already having an impact in Merthyr Tydfil. As Greenhouse gases have increased Merthyr Tydfil has experienced all of the key symptoms of man-made climate change including erratic weather patterns, air pollution, heatwaves and changes in biodiversity. This has also come with associated economic and social costs as businesses and residents have struggled with issues like flood damage and interruption to their daily lives. Merthyr Tydfil Council will be carrying out a number of Decarbonisation initiatives and projects that reduce the Carbon Emissions of its operations and impacts on Climate Change.
The announcement of a customer’s award of or entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of September 30, 2021.
Media Contact:
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VANCOUVER, British Columbia--(BUSINESS WIRE)--Former Prime Minister of Canada Stephen Harper and Former President of Mexico Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on January 16th and 17th, 2022.
Alongside the former Canadian Prime Minister and Mexican President are best selling finance author Robert “Rich Dad” Kiyosaki, dozens of globally respected economists, legendary money managers, and investors. The conversations on stage will cover the most important investment opportunities and key issues in macro-finance.
The VRIC will include a marketplace of 225 investment opportunities in the mining industry, spanning early-stage exploration to advanced producing mines.
Guests can select from a variety of ticket options, including General Admission, VIP, and Super VIP.
“This is the biggest event in finance that Vancouver has ever seen. Vancouver is a world-class city, it’s about time we host a finance conference competitive with anything else on a global scale. We’ll be squaring off with world leaders live on stage, digging into the most sensitive and consequential events of our future.” - Jay Martin, CEO, Cambridge House & Host of the Vancouver Resource Investment Conference
This year's conference will mark a monumental change for the Vancouver Resource Investment Conference, with a greater focus on the various social, economic, and political issues shaping Canada's future, domestically and internationally. More information and event details can be found below:
Since 2011, Jay Martin has expanded Cambridge House from Canada's leading junior mining conferences to become Canada's most recognizable brand in public venture capital. Jay Martin is an early-stage investor and host of The Jay Martin Show, a YouTube show and podcast that dives into the most important conversations at the intersection of money and psychology. Jay sits on the board of the Entrepreneur Organization, a global business community of over 12,000 leading entrepreneurs in 53 countries worldwide.
Cambridge House International: At Cambridge House International, we believe in two simple philosophies: ideas are better when shared, and people are better when connected.
Reece Mack
Phone: 604 417 4234
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DUBLIN--(BUSINESS WIRE)--The "Solar Ingot Wafer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The latest study analyzes the historical and present-day scenario of the global solar ingot wafer market to accurately gauge its potential development.
The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the solar ingot wafer market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the solar ingot wafer market will progress during the forecast period of 2021 to 2031.
The report offers intricate dynamics about the different aspects of the solar ingot wafer market that aid companies operating in the market in making strategic development decisions. This study also elaborates on the significant changes that are highly anticipated to configure the growth of the solar ingot wafer market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the solar ingot wafer market. The report estimates statistics related to the market progress in terms of value (US$ Mn).
This study covers a detailed segmentation of the solar ingot wafer market, along with key information and a competitive outlook. The report mentions the company profiles of key players that are currently dominating the solar ingot wafer market, wherein various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Companies Mentioned
Key Questions Answered in this Report on Solar Ingot Wafer Market
The report provides detailed information about the global solar ingot wafer market on the basis of comprehensive research on various factors that are playing a key role in accelerating the market growth. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global solar ingot wafer market so as to help them design successful strategies and make target-driven decisions.
Key Topics Covered:
1. Executive Summary
2. Market Overview
2.1. Market Segmentation
2.2. Market Definitions
2.3. Market Indicators
3. Market Dynamics
3.1. Drivers and Restraints Snapshot Analysis
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunities
3.2. Porter's Five Forces Analysis
3.2.1. Threat of Substitutes
3.2.2. Bargaining Power of Buyers
3.2.3. Bargaining Power of Suppliers
3.2.4. Threat of New Entrants
3.2.5. Degree of Competition
3.3. Regulatory Scenario
3.4. Value Chain Analysis
3.4.1. List of Manufacturers
3.4.2. List of Potential Customers
4. Price Trend Analysis
5. Overview of Solar Ingot Wafer Process
6. COVID-19 Impact Analysis
7. Global Solar Ingot Wafer Market Value (US$ Mn) Analysis, by Type
8. Global Solar Ingot Wafer Market Analysis, by Application
9. Global Solar Ingot Wafer Market Analysis, by Cutting Method
10. Global Solar Ingot Wafer Market Analysis, by Region, 2020-2031
11. North America Solar Ingot Wafer Market Analysis, 2020-2031
12. Europe Solar Ingot Wafer Market Analysis, 2020-2031
13. Asia Pacific Solar Ingot Wafer Market Analysis, 2020-2031
14. Rest of World Solar Ingot Wafer Market Analysis, 2020-2031
15. Competition Landscape
15.1. Global Solar Ingot Wafer Market Share Analysis, by Company (2020)
15.2. Company Profiles
16. Primary Research - Key Insights
17. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/d3y7bn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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VISTA, Calif.--(BUSINESS WIRE)--$FLUX #EVcharging--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion battery packs for commercial and industrial equipment, has engaged international investor relations specialists MZ Group (MZ) to lead a comprehensive strategic investor relations and financial communications program across all key markets.
MZ Group will work closely with Flux Power management to develop and implement a comprehensive capital markets strategy designed to increase the Company’s visibility throughout the investment community. The campaign will highlight how Flux Power has achieved 13 consecutive quarters of year-over-year revenue growth and sold over 11,000 lithium-ion battery packs and energy storage solutions for industrial applications. The Company designs, develops, manufactures, and sells its UL Listed lithium-ion technology for lift trucks and other industrial equipment including airport ground support equipment (GSE), stationary energy storage for EV charging and has introduced a new Telematics technology called SkyBMS, which delivers battery pack data to optimize performance and customer fleet tracking. With the recent net proceeds of $14.1M from a registered direct offering, Flux Power is rapidly expanding into adjacent markets and developing a new, more efficient platform for its battery packs.
MZ has developed a distinguished reputation as a premier resource for institutional investors, brokers, analysts and private investors and maintains offices worldwide.
Chris Tyson, Executive Vice President at MZ North America, will advise Flux Power’s IR team in all facets of investor relations including the coordination of roadshows and investment conferences across key cities and building brand awareness with financial and social media outlets.
Ted Haberfield, Chairman & President of MZ Group North America, commented: “The global lithium-ion battery market has continued to expand, propelled by electric vehicles and supportive government regulations. Grand View Research reports the global lithium-ion battery market size was $32.9 billion in 2019 and is expected to grow to $87.5 billion in 2027, at CAGR of 13%. Within this fragmented market, the industrial equipment segment is undergoing a multi-year transition away from internal combustion to electric power due to the cost savings and sustainability provided by electrification. The electric forklift battery market alone is projected to be $2.5 billion according to the ITA 2020 US Factory Shipments report. With only 5% penetration of lithium-ion batteries in the forklift market, Flux Power has significant opportunities to lead adoption for large Fortune 500 fleets. With a diverse and growing customer base across multiple segments, the Company is well-positioned to grow the value of its technology into markets including airport ground support equipment (GSE), stationary energy storage, electric autonomous shuttles and additional verticals. This creates untapped value which presents an exciting opportunity, and we look forward to sharing this with our network of institutional, family offices and retail investors.”
Chris Tyson added: “Flux Power has recently been delivering a full product line of high-performance lithium-ion battery packs that cater to large fleets in food, beverage, retail and grocery, manufacturing, and distribution. These battery packs help to improve performance, lifespan, and efficiency while eliminating required maintenance for fleets, ultimately lowering the total cost of ownership compared to alternative lead acid batteries and propane. Lithium-ion battery packs increase sustainability and ESG metrics for fleets and reduce environmental impacts, with one analysis for a Fortune 100 customer finding over 2,000 tons of CO2 emissions saved per year. Emerging new applications used in stationary energy storage are a natural and sustainable product extension. Reinforced by a 64,000 sq ft facility that can support production for $100 million annual revenue, the Company has charted a clear expansion pathway. We look forward to working with management to communicate the immense value proposition Flux Power represents based on its increasing revenue and gross margin profiles.”
“With a full range of lithium-ion battery product lines in place and a fortified balance sheet, we are focused on executing on our sales roadmap and delivering on our record order backlog of $28.0 million with marquee customers,” said Ron Dutt, CEO of Flux Power. “Our advanced technologies will enable us to serve an increasing range of customers with higher unit volume sales and efficiencies that will continue to drive revenue and gross profit margin. We look forward to working with Chris and the entire team at MZ Group to communicate our proven track record leading lithium-ion battery adoption for large fleets, and building long-term value for our shareholders,” concluded Dutt.
For more information on Flux Power, please view the Company’s Corporate Video or visit www.fluxpower.com. To schedule a conference call with management, please email your request to This email address is being protected from spambots. You need JavaScript enabled to view it. or call Chris Tyson at 949-491-8235.
About Flux Power Holdings, Inc.
Flux Power designs, develops, manufactures, and sells advanced lithium-ion energy storage solutions for lift trucks, and other industrial equipment including airport ground support equipment (GSE), solar energy storage, and other commercial applications. Our lithium-ion battery packs, including our proprietary battery management system (BMS) and telemetry, provide our customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. For more information, please visit www.fluxpower.com.
About MZ Group
MZ North America is the US division of MZ Group, a global investor relations and corporate communications leader. MZ North America was founded in 1996 and provides full scale Investor Relations to both private and public companies across all industries. Supported by an exclusive one-stop-shop approach, MZ works with top management to support its clients’ business strategies via integrated product and service categories: 1) IR Consulting & Outreach – full service investor relations and roadshow services; 2) IPO Advisory & SPAC IR - preparation for the Pre-IPO journey and leading sponsor/target companies through the SPAC business combination; 3) Public Relations – targeted campaigns and broad media outreach; 4) ESG iQ & Advisory – reporting technology platform and ESG guidance; 5) Market Intelligence – real time ownership monitoring; 6) Technology Solutions – websites, webcasting, conference calls, distribution services and board portals. MZ has a global footprint with offices located in New York, Chicago, San Diego, Aliso Viejo, Austin, Minneapolis, Taipei and São Paulo. For more information, please visit www.mzgroup.us.
Forward-Looking Statements
This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of operations, financial condition and performance will not differ materially from the results of operations, financial condition and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
Follow us at:
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Twitter: @FLUXpwr
LinkedIn: Flux Power
Media & Investor Relations:
Justin Forbes
877-505-3589
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External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
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www.mzgroup.us
HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian) (NYSE American: TELL) today named energy investment expert Claire R. Harvey as a new independent Board member. Ms. Harvey is the Founder and President of ARM Resource Partners, a joint venture making energy investments, and serves as Chairman of the Board of Falcon Minerals Corporation, a public company which owns and manages mineral interests in the United States. She was previously Founder and Chief Executive Officer of Gryphon Oil and Gas, LLC, and served in key roles at Pine Brook Partners and TPH Partners.
Executive Chairman Charif Souki said, “Claire has expertly led and executed both public and private financial transactions over the past 20 years and brings immense energy investment experience to Tellurian’s Board. We will rely on her experience to guide and support us as we finance Driftwood LNG and give Bechtel notice to proceed with construction in the first quarter of 2022.”
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, construction, financing and other aspects of the Driftwood project, including the timing of a notice to proceed with respect to the project. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2020 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 24, 2021, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
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Investors:
Matt Phillips
Vice President, Investor Relations
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Unique technology serves the emerging Carbon Removal market with solution costing <$100/ton at scale
CARY, N.C.--(BUSINESS WIRE)--#breakthroughenergy--Sustaera, a direct air capture (DAC) carbon dioxide removal company spun-out of Susteon Inc., announced the closing of its $10M Series A financing round led by Breakthrough Energy Ventures and Grantham Trust’s Neglected Climate Opportunities LLC. Seed R&D funding was provided by the United States Department of Energy (DOE) and North Carolina’s Department of Commerce through multiple grants including one in partnership with Columbia University over the past several years. Sustaera will use the investment to accelerate its research and development program and build its first pilot plant.
Limiting global temperatures between 1.5°C and 2°C will require significant and rapid scaling of carbon dioxide removal technologies. IPCC’s scenarios call for ~10 Gt/y of negative emissions by 2050 to achieve 1.5°C pathway of which DAC is to contribute up to 6 Gt/y. Sustaera’s low-cost DAC technology has the potential to provide a real pathway to meet these global carbon dioxide removal targets. At scale, Sustaera projects it will capture a ton of CO2 for less than $100/ton, serving the significant emerging Carbon Removal market projected to be >$ 1Trillion by 2030.
Sustaera’s DAC system is uniquely powered by carbon-free energy and differentiated by use of abundantly available natural minerals repurposed as carbon dioxide capture sorbents, as well as use of a modular component design to allow Sustaera to rapidly scale this technology using existing supply chains and manufacturing infrastructure. These benefits combined with significantly lower land requirements than land-based or natural CO2 capture methods, makes Sustaera a true pioneer of DAC 2.0.
“Sustaera plans to offer commercial DAC systems starting at 10 tons per day that can be multiplied to create facilities capable of capturing thousands of tons of carbon dioxide per day, with a goal of removing 500 million tons cumulatively over the next 20 years,” said Co-founder and Chief Executive Officer Shantanu Agarwal.
The Sustaera team is comprised of engineers who have experience building both small and commercial scale carbon capture plants in the past. Sustaera’s sorbent can be regenerated with renewable electricity at lower temperatures, thus significantly reducing the amount of energy required which often represents more than half of the total capture cost. Sustaera plans to initially sell credits in the voluntary market with Stripe as its first customer, and is in early discussions with several interested stakeholders.
“Sustaera’s Direct Air Capture technology is based on more than 100 person-years of R&D and technology scaleup experience in material science, sorbent chemistry, process design and engineering, and sorbent manufacturing,“ said Dr. Raghubir Gupta, Co-Founder and Chief Technology Officer, who has worked on the development and commercialization of several carbon capture and utilization technologies over the last 30 years. “We are excited to play an impactful role in capturing atmospheric carbon dioxide at scale to restore the planet’s temperature.”
Carmichael Roberts, Breakthrough Energy Ventures, said, “Sustaera's technology is positioned to accelerate the deployment of cost-efficient DAC globally using existing supply chains. This is the type of solution we look for, designed to scale quickly and provide a viable economic negative emission pathway.”
Kevin Tidwell, managing director at Grantham Environmental Trust, said in the announcement that, “We operate with a ‘Race of our Lives’ mindset where every small fraction of a degree will really matter. The Sustaera team, with their daily obsessions to find ways to cost-effectively reach a scale, as soon as possible, gives us great hope. We are grateful for their partnership.”
“We applaud Sustaera’s important work on carbon dioxide removal,” said Dr. Jennifer Wilcox, Principal Deputy Assistant Secretary in the U.S. Department of Energy’s Office of Fossil Energy and Carbon Management. “And we’re excited that DOE’s seed investment is helping to advance their innovative DAC system, which has the potential to ultimately capture millions of tons of carbon dioxide.”
Sustaera is currently recruiting mechanical, electrical, chemical, process engineers, material scientists, chemists, and entrepreneurial business majors to support its growth. To learn more about job openings and the company, visit www.sustaera.com.
About Sustaera
Based in Cary, North Carolina, Sustaera is a Direct Air Capture technology startup with deep expertise in carbon capture, separations chemistry and process scale-up. Sustaera’s mission is to deliver low-cost, scalable, carbon removal systems to the world to “Restore the Carbon Balance”. Sustaera’s core technology is based on several breakthroughs in material science, process design, and modular manufacturing. The company is building its first demonstration unit in North Carolina in 2022. More information at www.sustaera.com
About Breakthrough Energy Ventures
Backed by many of the world’s top business leaders, Breakthrough Energy Ventures (BEV) invests in cutting-edge companies that will lead the world to net-zero emissions. BEV has more than $2 billion in committed capital to support bold entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation. BEV’s strategy links government-funded research and patient, risk-tolerant capital to bring transformative clean energy innovations to market as quickly as possible.
The first fund was created in 2016 as part of the Breakthrough Energy network of initiatives and entities, which include investment funds, non-profit and philanthropic programs, and policy efforts linked by a shared commitment to scale the technologies needed to address climate change and achieve a path to net zero emissions by 2050. Visit www.breakthroughenergy.org to learn more.
About Grantham Trust’s Neglected Climate Opportunities
Neglected Climate Opportunities LLC is a climate-focused venture capital vehicle that is a wholly owned subsidiary of the Jeremy and Hannelore Grantham Environmental Trust. NCO invests to redesign energy systems, improve soil health, spare the ocean from acidification, and directly recapture carbon from the atmosphere. The Grantham Environmental Trust and its affiliate, the Grantham Foundation for the Protection of the Environment, believe that innovation and technology are the best hope for an enduring future. The Grantham Trust and Foundation have, for over 15 years, focused almost exclusively on climate change mitigation and currently support over eighty grantees and forty portfolio companies around the world.
Shantanu Agarwal
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PG&E Offers Ways to Save Money on Holiday Lighting and Avoid Safety Hazards
SAN FRANCISCO--(BUSINESS WIRE)--Holiday lights brighten the home, but they can also add costs to energy bills and represent a fire hazard if not properly handled. Pacific Gas and Electric Company (PG&E) provides customers with safety and energy efficiency reminders to get into the holiday spirit.
“We are focused on helping our customers make the holidays bright, safe and efficient,” said Chris Zenner, PG&E’s Vice President of Residential Services & Digital Channels. “We hope all of our customers use this information to have a safe and happy holiday season.”
According to the National Fire Protection Association (NFPA), almost one third of home Christmas tree fires are caused by electrical problems. Although Christmas tree fires are not common, when they do occur, they are more likely to be serious.
For a fire-safe holiday season make sure the tree is at least three feet away from any heat source, like fireplaces, radiators, candles, heat vents or lights. Also, purchase flame-retardant metallic or artificial trees. For real trees, make sure the tree has fresh, green needles that aren’t easily broken. And remember to keep live trees as moist as possible by giving them water daily.
Adding to possible safety risks, older, non-energy-efficient lighting can severely impact customers’ monthly energy bills. Standard incandescent holiday lights, including mini lights, use more energy and may require frequent bulb replacements. LED lights cost more to purchase but use much less energy and can produce bright light for up to 20 holiday seasons.
Based on PG&E testing, a string of 300 large incandescent lights cost an average of $135.08 to operate annually for 225 hours per year (5 hours/day for 45 days) at the current residential electric non-CARE rate, compared to $0.83 to annually operate a LED 300 count light strand during the same timeframe.
Here are additional tips to keep customers safe during the holidays:
Holiday Lighting Safety
Candle and Cooking Safety
More Ways to Save Energy
To learn more about ways to save this holiday season visit pge.com/saveenergy.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
Media Relations
415.973.5930
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO) announced today that it will host a conference call on January 27, 2022 at 10:00 a.m. ET to discuss 2021 fourth quarter and full year earnings results, which will be released earlier that day, and provide an update on company operations.
Persons interested in listening to the conference call may join the webcast on Valero’s Investor Relations website at www.investorvalero.com.
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 500 company based in San Antonio, Texas, and it owns 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel owns North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names. Please visit www.investorvalero.com for more information.
Investors:
Homer Bhullar, Vice President – Investor Relations and Finance, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
First to offer service and further demonstrates commitment to lower-carbon future
HOUSTON--(BUSINESS WIRE)--Tennessee Gas Pipeline (TGP), a subsidiary of Kinder Morgan, Inc. (NYSE: KMI) today filed with the Federal Energy Regulatory Commission (FERC) a proposal to implement a responsibly sourced natural gas (RSG) supply aggregation pooling service at select locations across the TGP system. RSG is third-party certified natural gas that meets certain environmental, social and governance standards, particularly related to methane emission reductions. The proposed service is designed to enable suppliers and customers on TGP to purchase and sell RSG supply at non-physical trading locations, ultimately serving end-users, utilities, power plants and LNG facilities connected to the TGP system. Producers who have already obtained RSG certifications from qualified third-party organizations are anticipated to supply the RSG needed for the proposed pooling service, and the supply is expected to grow as RSG becomes the fuel of choice among customers. Pending regulatory approval from the FERC, this service is expected to be available in the first quarter of 2022.
“We are pleased that TGP is the first pipeline system to offer this RSG supply aggregation pooling service,” said TGP’s Vice President of Commercial Ernesto Ochoa. “We believe this lower methane intensity fuel is an essential component of the energy transition, and TGP is uniquely positioned to be the transporter of choice because of its connectivity to key basins and end-users. We are excited to continue to work with current and future customers to encourage the delivery of RSG supply into our systems and pursue new ways to facilitate the availability of these molecules to the market.”
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning demand for RSG and the anticipated timing and benefits of the proposed RSG pooling program. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include the risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com.
Katherine Hill
Senior Corporate Communications Specialist
(713) 469-9176
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Investor Relations
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New software solution delivers access to pipeline performance trends and rich, actionable, data-driven insights
LONDON--(BUSINESS WIRE)--nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced the launch of nVent RAYCHEM Pipeline Supervisor software, the world’s premier temperature critical pipeline monitoring solution. nVent RAYCHEM Pipeline Supervisor software delivers continuous performance trends and actionable insights for distributed temperature sensing traced, electrically heated pipelines. The software’s predictive analytics take operators “inside the pipeline” to help them identify pending threats and maximize safe and efficient pipeline infrastructure operations.
“For more than 15 years, nVent has monitored the fiber optic temperatures of many of the world’s most critical pipeline installations, experiencing firsthand how important real-time information is to this process,” says David Parman, nVent technical fellow. “While it was previously unattainable for operators and field maintenance personnel to identify pending threats to temperature critical pipeline assets, the new nVent RAYCHEM Pipeline Supervisor solution provides real-time advanced analytics and predictive notification capabilities for these complex systems. Operators of both newer greenfield transfer pipelines and the aging network of temperature-sensitive pipeline installations will benefit from these insights as they work to ensure their pipelines are ready for the electrification of everything.”
Solutions to make pipeline operations safer, more efficient and more cost-effective in a connected, electrified world
nVent RAYCHEM Pipeline Supervisor software offers several features critical to operators, including:
For more information on nVent RAYCHEM Pipeline Supervisor software, please visit https://raychem.nvent.com/RPS
About nVent
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.
Will Wright
Marketing Manager
nVent Thermal Management
+1 (713) 735-8740
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RESTON, Va.--(BUSINESS WIRE)--Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), today announced the acquisition of the assets of Kibart, Inc. (“Kibart”). Established in 1986 and based in Towson, Maryland, Kibart delivers a variety of services including mechanical, electrical and energy engineering, master planning, utility and infrastructure design, commissioning, LEED-certification design, and construction administration. Under the leadership of Ed Abbott, Kibart services its clients with a team of 35+ employees including professional engineers, LEED accredited and certified commissioning professionals, and CSI certified document technicians.
“Kibart is a great addition to our growing portfolio of building services,” said Gary Bowman, CEO of Bowman. “Ed and his team have designed many award-winning projects that demonstrate market leadership and innovation. The addition of Kibart builds on our acquisitions of KTA Group and PCD earlier this year and accelerates our strategy of developing a building services practice that has a national reach. In keeping with our revenue-focused approach to acquisitions, Kibart as a part of Bowman provides immediate opportunity for the cross-selling of our services and revenue growth. We are extremely pleased with the breadth of leadership we are adding and welcome everyone from Kibart to Bowman.”
“We are all pleased to become part of Bowman,” said Ed Abbott, president of Kibart. “We are aligned with Gary and his team on our collective vision for Kibart’s future as a part of Bowman. The national reach of Bowman’s building services practice along with its expansive civil engineering and land surveying expertise all present immediate opportunities for growth for our clients, our business, and our people. We have similar cultures and overlapping values, and we are excited about this next chapter for all of us at Kibart.”
The acquisition, which the Company expects to be immediately accretive, was financed with a combination of cash, seller financing, and stock. The Company expects the Kibart acquisition to initially contribute approximately $6.3 million of annualized net service billing.
“This is one of the acquisitions we expected to close prior to year end,” said Bruce Labovitz, Bowman’s CFO. “This transaction is within our previously communicated target multiple range for acquisitions and meets all of our objectives for performance metrics. We are pleased to have closed on our fourth transaction as a public company and fifth this year. As is our practice, we will provide more detailed information on M&A activities and pipeline in connection with scheduled quarterly communications.”
About Kibart, Inc.
Founded in 1986, Kibart is an award-winning MEP engineering and commissioning firm that works collaboratively with all project stakeholders to provide solutions that are creative, contemporary, reliable, and sustainable. Having developed exceptionally relevant expertise in the equipment and total systems design process, Kibart’s staff of over 35 building performance experts focus on delivering the highest quality results to clients and the environment. Additional information on Kibart, its team, and its projects can be found at https://kibart.com.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is an engineering services firm delivering innovative infrastructure solutions to customers who own, develop, and maintain the built environment. With 950 employees and more than 35 offices throughout the United Sates, Bowman provides a variety of planning, engineering, construction management, commissioning, environmental consulting, geomatics, survey, land procurement and other technical services to customers operating in a diverse set of regulated end markets. On May 11, 2021, Bowman completed its $51.7 million initial public offering and began trading on the Nasdaq under the symbol BWMN. For more information, visit www.bowman.com.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained in this news release. Such factors include: (a) changes in demand from the local and state government and private clients that we serve; (b) general economic conditions, nationally and globally, and their effect on the market for our services; (c) competitive pressures and trends in our industry and our ability to successfully compete with our competitors; (d) changes in laws, regulations, or policies; and (e) the “Risk Factors” set forth in the Company’s most recent SEC filings. All forward-looking statements are based on information available to the Company on the date hereof, and the Company assumes no obligation to update such statements, except as required by law.
Investor Relations
Bruce Labovitz
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Megan McGrath
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AMSTERDAM--(BUSINESS WIRE)--Accenture (NYSE: ACN) has acquired Zestgroup, a services firm specializing in energy transitions, net carbon-zero projects and procurement of renewables. Terms of the transaction were not disclosed.
Zestgroup brings deep industry knowledge, project expertise and market regulation experience into helping organizations move to net-zero. These capabilities enhance Accenture’s ability to build more trusted, circular and net-zero value chains while driving social and economic benefits for all stakeholders.
“By combining years of deep industry expertise and capabilities, Zestgroup advances our ability to help clients move faster in achieving their carbon emission objectives,” said Nicole van Det, country managing director of Accenture Netherlands. “A sustainable future relies on organizations moving faster to transition ways of working to those that make greater use of sustainable clean energy sources.”
In fact, the International Energy Agency reports that renewables will soon generate as much electricity as fossil fuels, organizations must move faster to convert existing practices into those that make use of sustainable clean energy sources. Zestgroup supports this transition to sustainable energy sources, such as solar, water, heat, wind and biogas, and helps clients achieve net-zero carbon. The combination of these services with Accenture’s SynOps platform will give Accenture the ability to leverage insights to help clients extract greater value out of existing investments and accelerate their sustainability journey.
“Creating a sustainable future will be defined by those that create value faster and maximize the impact of those investments,” said Manish Sharma, group chief executive of Accenture Operations. “We’re delighted to welcome Zestgroup to our team, adding significant expertise to our procurement business while extending our ability to deliver on our promise to embed sustainability into everything we do and with everyone we work with.”
Headquartered in the Netherlands, Zestgroup brings more than 120 professionals to Accenture Operations, with clients in a variety of sectors and deep expertise across energy transition and reconciliation, supplier market regulations, renewable spending category and project and procurement services. It also provides spend optimization services to help organizations better manage sustainability spend and energy reconciliation services to better optimize claim settlements across the energy value chain.
Ramon van der Wal, chief executive officer of Zestgroup, added: “Growing our business as part of Accenture will translate into new opportunities for our people and our combined expertise will help our clients move faster and smarter as they realize the benefits that emerge from a net-zero journey.”
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 674,000 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 accenture.com.
Forward-Looking Statements
Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These risks include, without limitation, risks that: the transaction might not achieve the anticipated benefits for Accenture; the COVID-19 pandemic has impacted Accenture’s business and operations, and the extent to which it will continue to do so and its impact on the company’s future financial results are uncertain; Accenture’s results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; Accenture’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect the company’s results of operations; if Accenture is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; Accenture faces legal, reputational and financial risks from any failure to protect client and/or company data from security incidents or cyberattacks; the markets in which Accenture operates are highly competitive, and Accenture might not be able to compete effectively; Accenture’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if Accenture does not successfully manage and develop its relationships with key alliance partners or fails to anticipate and establish new alliances in new technologies, the company’s results of operations could be adversely affected; Accenture’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels; changes in Accenture’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; Accenture’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; changes to accounting standards or in the estimates and assumptions Accenture makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; Accenture might be unable to access additional capital on favorable terms or at all and if the company raises equity capital, it may dilute its shareholders’ ownership interest in the company; as a result of Accenture’s geographically diverse operations and its growth strategy to continue to expand in its key markets around the world, the company is more susceptible to certain risks; if Accenture is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; Accenture might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; Accenture’s business could be materially adversely affected if the company incurs legal liability; Accenture’s global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements; Accenture’s work with government clients exposes the company to additional risks inherent in the government contracting environment; if Accenture is unable to protect or enforce its intellectual property rights or if Accenture’s services or solutions infringe upon the intellectual property rights of others or the company loses its ability to utilize the intellectual property of others, its business could be adversely affected; Accenture’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; Accenture may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent Annual Report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.
Laura Van Horssen
Accenture
+31 6 29644659
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Jenn Francis
Accenture
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And Announces Repurchase of Common Units From Occidental
HOUSTON--(BUSINESS WIRE)--Today Western Midstream Partners, LP (NYSE: WES) (“WES” or the “Partnership”) announced changes to the board of directors (the “Board”) of Western Midstream Holdings, LLC, its general partner (the “General Partner”), and to its management team, as well as the repurchase of WES common units from Occidental.
In connection with his retirement from Occidental Petroleum Corporation (“Occidental”), Mr. Glenn Vangolen will resign from the Board effective December 17, 2021. Mr. Vangolen will be succeeded as chairman of the Board by Peter J. (Jeff) Bennett, a current WES Director and also President, U.S. Onshore Resources and Carbon Management, Commercial Development, at Occidental.
“We are deeply grateful for Glenn’s steady and insightful leadership through WES’s transition to a stand-alone company, which was accomplished while simultaneously navigating the public health and market-driven challenges posed by COVID-19,” said Michael Ure, President and Chief Executive Officer. “Glenn leaves WES in a strong position to execute on its strategy of returning value to unitholders, and I’d like to thank him personally, and on behalf of the Board, for his contributions.”
Mr. Ure continued, “We are delighted to have Jeff as our new Chairman. His extensive oil and gas experience has already served WES well during his tenure on the Board, and we look forward to benefitting from his leadership and vision as Chairman.”
Also effective on December 17, 2021, Mr. Frederick A. Forthuber will be joining the Board. Mr. Forthuber currently serves as President of Oxy Energy Services, LLC, a subsidiary of Occidental. In this role, he has global functional responsibility for midstream and marketing of crude oil, natural gas liquids, and natural gas, as well as Health and Safety and the oil & gas regulatory and land functions.
“We are very excited to welcome Fred to the Board,” said Mr. Ure. “He brings to us over 35 years of valuable industry experience in oil and gas operations that will be instrumental in guiding WES toward achieving its strategic financial and operational goals.”
Additionally, in connection with a reorganization within WES’s operational and engineering groups, Mr. Charles G. Griffie, Senior Vice President, Operations and Engineering of the General Partner, will depart the organization effective December 31, 2021.
“I would like to thank Charles for his leadership and numerous contributions to WES during a dynamic and challenging environment over the past several years. He has been a valuable partner and resource to me and his team at WES, and we wish him the very best in his future endeavors,” said Craig Collins, Chief Operating Officer.
WES REPURCHASES COMMON UNITS FROM OCCIDENTAL
On December 13, 2021, WES repurchased 2.5 million WES common units from Occidental for aggregate consideration of $50.2 million, as part of WES’s previously announced $250 million common unit repurchase program. The repurchase of the common units was reviewed and approved by the Partnership's Special Committee, which includes only independent members of the board of directors of WES's general partner. The Special Committee was advised by Hunton Andrews Kurth LLP as legal counsel.
ABOUT WESTERN MIDSTREAM
Western Midstream Partners, LP (“WES”) is a Delaware master limited partnership formed to acquire, own, develop, and operate midstream assets. With midstream assets located in the Rocky Mountains, North-central Pennsylvania, Texas, and New Mexico, WES is engaged in the business of gathering, compressing, treating, processing, and transporting natural gas; gathering, stabilizing, and transporting condensate, NGLs, and crude oil; and gathering and disposing of produced water for its customers. In addition, in its capacity as a processor of natural gas, WES also buys and sells natural gas, NGLs, and condensate on behalf of itself and as an agent for its customers under certain of its contracts.
For more information about Western Midstream Partners, LP, please visit www.westernmidstream.com.
Kristen Shults
Senior Vice President, Finance and Communications
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Daniel Jenkins
Director, Investor Relations
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Shelby Keltner
Manager, Investor Relations
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