Annual Dividend Per Share to Increase from $2.30 to $2.60
HOUSTON--(BUSINESS WIRE)--Waste Management, Inc. (NYSE: WM) today announced that its Board of Directors has approved a 13% increase in the planned quarterly dividend rate for 2022, from $0.575 to $0.65 per share. On an annual basis, the dividend rate increases from $2.30 to $2.60. This will mark the nineteenth consecutive year that the Company has increased its per share dividend.
The Company also received authorization from its Board of Directors to repurchase up to $1.5 billion of the Company’s common stock.
“The resiliency and exceptional cash generation of our business model has been on full display over the last several years. The pace of free cash flow growth in our business has exceeded expectations and positioned us to return more than $3.5 billion to shareholders since the end of 2019.(a) Our confidence in our business model and outlook positions us to plan the largest dividend increase we have had in nearly two decades,” said Jim Fish, President and Chief Executive Officer of Waste Management, Inc. “Additionally, our Board increased our share repurchase authorization, further demonstrating confidence in the Company’s cash flow generation and disciplined allocation of available cash.”
Waste Management’s Board of Directors must declare each future quarterly dividend prior to payment. The Board of Directors intends to declare the first quarter 2022 dividend in February, at which time the Company will announce the record and payment dates for this dividend. It is expected that the first increased dividend will be paid in March of 2022.
The Company, from time to time, provides estimates of financial and other data, comments on expectations relating to future periods and makes statements of opinion, view or belief about current and future events. This press release contains such forward-looking statements, including statements regarding the amount, declaration, timing and payment of dividends in 2022, future share repurchases, and future business performance and cash generation. You should view these statements with caution. They are based on the facts and circumstances known to the Company as of the date the statements are made. These forward-looking statements are subject to risks and uncertainties that could cause actual results to be materially different from those set forth in such forward-looking statements, including but not limited to, failure to implement our optimization, growth, and cost savings initiatives and overall business strategy; failure to identify acquisition targets and negotiate attractive terms, consummate or integrate acquisitions and obtain the results anticipated from acquisitions; environmental and other regulations; significant environmental, safety or other incidents resulting in liabilities or brand damage; failure to obtain and maintain necessary permits; failure to attract, hire and retain key team members and a high quality workforce; labor disruptions and workforce-related regulations; significant storms and destructive climate events; public health risk and other impacts of COVID-19 or similar pandemic conditions; macroeconomic pressures and market disruption resulting in labor, supply chain and transportation constraints and inflationary cost pressure; increased competition; pricing actions; commodity price fluctuations; international trade restrictions; disposal alternatives and waste diversion; declining waste volumes; weakness in general economic conditions and capital markets; adoption of new tax legislation; fuel shortages; failure to develop and protect new technology; failure of technology to perform as expected, including implementation of a new enterprise resource planning system; failure to prevent, detect and address cybersecurity incidents or comply with privacy regulations; negative outcomes of litigation or governmental proceedings; and decisions or developments that result in impairment charges. Please also see the Company’s filings with the SEC, including Part I, Item 1A of the Company’s most recently filed Annual Report on Form 10-K and subsequent Form 10-Qs for additional information regarding these and other risks and uncertainties applicable to our business. The Company assumes no obligation to update any forward-looking statement, including financial estimates and forecasts, whether as a result of future events, circumstances or developments or otherwise.
(a) |
Free cash flow is a non-GAAP measure. Free cash flow is not intended to replace “Net cash provided by operating activities,” which is the most comparable U.S. GAAP measure. The Company defines free cash flow as net cash provided by operating activities, less capital expenditures, plus proceeds from divestitures of business (net of cash divested) and other sales of assets. This definition may not be comparable to similarly titled measures presented by other companies. |
ABOUT WASTE MANAGEMENT
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management environmental services in North America, providing services throughout the United States and Canada. Through its subsidiaries, the Company provides collection, transfer, disposal services, and recycling and resource recovery. It is also a leading developer, operator and owner of landfill gas-to-energy facilities in the United States. The Company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management, visit www.wm.com.
Waste Management
Web site
www.wm.com
Analysts
Ed Egl
713.265.1656
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Media
Toni Werner
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ICARUS, Heliogen’s Installation & Cleaning Autonomous Robot & Utility Solution, is Expected to be Enhanced and Deployed Across Heliogen’s Full-Scale Facilities by 2023
PASADENA, Calif.--(BUSINESS WIRE)--#AI--Heliogen (the “Company”), a leading provider of AI-enabled concentrated solar power, today announced a new technological breakthrough in the production of low-cost renewable energy. In field tests at Heliogen’s Lancaster, California facility, the Company successfully completed the first technical demonstration of an autonomous field maintenance system, Heliogen’s Installation & Cleaning Autonomous Robot & Utility Solution, or ICARUS. By bringing the same advanced technologies that enable its AI-enabled concentrated solar power systems to the task of installing and maintaining those systems, the Company’s latest innovation is expected to significantly reduce the time to deploy its concentrated solar facilities, as well as the costs associated with construction and ongoing maintenance.
Heliogen’s concentrated solar facilities employ arrays of mirrored heliostats that require upkeep and cleaning to ensure peak optical performance and a high level of energy generation efficiency. With traditional solar plants, conventional manual cleaning methods are expensive and labor-intensive, and as such, are only completed once every few months. To improve cost savings and operational efficiency, Heliogen designed the ICARUS system, which utilizes GPS, ultrasonic rangefinders and light detection and ranging (LIDAR) sensors for completely autonomous operation, while also collecting performance data to achieve operational and cost efficiency for the entire lifecycle of the mirror field. The ICARUS system is designed to autonomously clean a field of mirrors on a predetermined schedule, keeping the system at peak performance with minimal human intervention required.
In addition to cleaning and maintenance operations, ICARUS can also be used to reduce the cost of system installation by autonomously delivering heliostats from an assembly or inventory location to the field and installing them with an accuracy of up to two centimeters. The ICARUS system can then record and transmit the installation position to the field model, improving the accuracy of the field control software and removing the need for expensive calibration. Heliogen’s future solar plant installations developed with ICARUS could be built around the clock, day or night, with computer-vision precision and with minimal physical labor.
ICARUS is designed to handle both structured and unstructured environments, maneuvering through varying topographies with ease. The system also has built-in obstacle detection and avoidance, so anything that suddenly appears in its path – whether people, animals, or debris – will be recognized and automatically avoided.
“Heliogen has pioneered the unique combination of hardware and software to drive up performance and drive down the costs of its concentrated solar systems. By taking advantage of huge boosts in processing power due to the advances of Moore’s Law, AI, computation, and computer vision, Heliogen aims to make solar energy more affordable than ever before,” said Bill Gross, founder and CEO of Heliogen. “This first technical demonstration of ICARUS is a leap forward in realizing Heliogen’s mission to replace fossil fuels with concentrated sunlight – cost-effectively and at scale.”
Heliogen’s breakthrough concentrated solar energy system utilizes AI to precisely align its mirrors with unprecedented accuracy, delivering carbon-free energy in the form of heat, power, or green hydrogen fuel. Harnessing the same advancements in AI and automation, ICARUS is designed to streamline the installation and maintenance of Heliogen’s future full-scale concentrated solar plants to bring down the cost of renewable energy for commercial and industrial applications. ICARUS is expected to be deployed across Heliogen’s full-scale facilities by 2023.
To see a video of breakthrough autonomy to reduce the cost of renewable energy in action, click here: https://bit.ly/heliogen-icarus.
About Heliogen
Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit heliogen.com.
On July 6, 2021, Heliogen entered into a definitive business combination agreement with Athena Technology Acquisition Corp. (NYSE: ATHN). Upon the closing of the business combination, Heliogen will become publicly traded on the New York Stock Exchange under the new ticker symbol “HLGN”. Additional information about the transaction can be viewed here: heliogen.com/investor-center.
Additional Information and Where to Find It
In connection with the proposed business combination, Athena Technology Acquisition Corp. (“Athena”) has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that has been declared effective by the SEC, which includes a prospectus of Athena with respect to the securities to be issued in connection with the business combination with Heliogen, Inc. (“Heliogen”) and a definitive proxy statement of Athena with respect to the Special Meeting. The combined proxy statement/prospectus relating to the proposed business combination will be mailed to Athena’s stockholders on or about December 6, 2021. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. The proposed business combination and related transactions will be submitted to stockholders of Athena for their consideration. Athena’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus and other documents filed in connection with Athena’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination and related transactions, because these materials contain important information about Heliogen, Athena and the proposed business combination and related transactions. The definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of November 23, 2021. Stockholders may also obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC by Athena, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Phyllis Newhouse, President and Chief Executive Officer, Athena Technology Acquisition Corp., 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, or by telephone at (970) 924-0446.
Participants in the Solicitation
Athena, Heliogen and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed business combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Registration Statement on Form S-1 and the prospectus included therein filed with the SEC on March 3, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the definitive proxy statement/prospectus related to the proposed business combination and related transactions, and which can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Heliogen Media Contact:
Leo Traub, Antenna Group for Heliogen
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+ 1 646 883 3562
Heliogen Investor Contact
Caldwell Bailey
ICR, Inc.
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OKLAHOMA CITY--(BUSINESS WIRE)--BCE-Mach LLC, BCE-Mach II LLC and BCE-Mach III LLC (collectively “BCE-Mach”) have executed purchase and sale agreements for two acquisitions totaling $66.5 million with both expected to close in the first quarter of 2022. These acquisitions are expected to add $26.4 million of 2022 cash flow at recent prices.
Representing its fourth acquisition in the STACK, BCE-Mach is acquiring additional working interest across 61 wells it operates in Kingfisher County, Oklahoma. BCE-Mach continues its strategy of consolidation within its STACK midstream and upstream operations with this bolt-on acquisition.
Separately, BCE-Mach is closing its fourth acquisition in the Mississippi Lime. Expanding its operating footprint in Kansas, these assets add ~66,000 net acres and 193 operated wells primarily located in Barber County. BCE-Mach’s significant midstream infrastructure is also growing with the addition of 16 disposal wells and corresponding gathering systems.
Additionally, BCE-Mach provides the following financial and operational results for the quarter ended Sept. 30, 2021:
Third Quarter Highlights
Operations Update
BCE-Mach will maintain a highly disciplined approach to its drilling program and will continue only undertaking projects that will deliver excellent well-level IRRs with short payback periods. With two rigs running currently, BCE-Mach is consistently identifying drilling opportunities meeting its criteria of 100+% IRRs across its STACK and Mississippi Lime assets. As the operator of a substantial portion of its acreage, BCE-Mach can direct its development program, including the timing, location and well completion design, which provides nearly complete control over its capital expenditures. On a program basis, BCE-Mach continues to be committed to spending less than 30 percent of its discretionary free cashflow on capital expenditures.
“Our strategy since forming BCE-Mach in 2018 hasn’t changed,” said CEO Tom Ward. “Despite changing commodity prices and investor interest in our industry, we have consistently been able to deploy capital and acquire assets at approximately 2.5 times cashflow. Additionally, our acquisitions have delivered significant value through adding targeted drilling locations and pre-existing midstream infrastructure while purchasing at discounts to PV10.”
“Our strategy is working,” said Bayou City Energy Founder & Managing Partner Will McMullen. “Investors want free cash flow, and we are on track to deliver about half a billion dollars of free cash flow on an annualized basis and growing.”
Asset Overview
As of Sept. 30, 2021, BCE-Mach has accumulated an acreage position consisting of approximately 678,000 net acres, of which 97 percent is held by production. BCE-Mach’s assets consist of 3,096 gross operated wells with ~63 percent average working interest and ~52 percent average net revenue interest and proved reserves of ~211 MMBoe with a product mix of approximately 55 percent natural gas and 45 percent liquids. Approximately 88 percent of BCE-Mach’s reserves are PDP, which boast a five-year projected average annual decline rate of ~12 percent.
BCE-Mach’s production benefits from an extensive midstream portfolio. BCE-Mach owns and operates 330 MMcf/d of processing capacity across 3 processing plants, 820 miles of high and low pressure gas gathering lines and 825 miles of water disposal pipelines with 70 disposal wells.
For more information about Mach, please visit www.machresources.com, call (405) 252-8100 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about BCE, please visit www.bayoucityenergy.com, call (713) 400-8200 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Lisa Lloyd
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405-973-6960
KENNESAW, Ga.--(BUSINESS WIRE)--Athena Technology Acquisition Corp. (NYSE: ATHN) (“ATHN”), a publicly-traded special purpose acquisition company, reminds its shareholders to vote in favor of the previously announced business combination (the “Business Combination”) with Heliogen, Inc. (“Heliogen”), an AI-enabled, modular concentrated solar technology company focused on decarbonizing industry.
Shareholders who owned common stock of ATHN as of the close of business on November 23, 2021 (the “Record Date”), may vote their shares. Shareholders as of the Record Date continue to have the right to vote their shares, regardless of whether such shareholders subsequently sold their shares and do not own such shares as of the date they cast their vote.
The extraordinary general meeting of ATHN shareholders to approve the pending Business Combination (the “Extraordinary General Meeting”) is scheduled to be held on December 28, 2021 at 10:00 a.m. Eastern Time. The Extraordinary General Meeting will be conducted virtually, and can be accessed via live webcast at https://www.cstproxy.com/athenatechnology/2021.
Additional information on how shareholders of record may vote their shares can be found at: https://www.athena1.com/athn-vote.
Every shareholder’s vote is important, regardless of the number of shares held. Accordingly, all ATHN shareholders who held shares as of the Record Date who have not yet voted are encouraged to do so as soon as possible so that their votes are received by ATHN no later than 11:59 p.m. Eastern Time December 27, 2021. For the avoidance of doubt, ATHN shareholders who owned shares as of the Record Date and subsequently sold all or a portion of their shares are STILL entitled to vote, and are encouraged to do so.
ATHN’s board of directors recommends you vote “FOR” the Business Combination with Heliogen and “FOR” all of the related proposals described in the definitive proxy statement/prospectus (the “Proxy Statement”) filed by ATHN with the Securities and Exchange Commission (“SEC”) on December 3, 2021.
These are the two easiest and fastest ways to vote – and they are both free:
Additionally, you can also vote by mail:
YOUR CONTROL NUMBER IS FOUND ON YOUR VOTING INSTRUCTION FORM. If you did not receive or misplaced your Voting Instruction Form, contact your bank, broker or other nominee to obtain your control number in order to vote. A bank, broker or other nominee is a person or firm that acts as an intermediary between an investor and the stock exchange who can help you vote your shares.
If any individual ATHN shareholder, who held shares as of the November 23, 2021 record date for voting, does not receive the Proxy Statement, such shareholder should (i) confirm their Proxy Statement’s status with their broker, (ii) contact Morrow Sodali LLC, ATHN’s proxy solicitor, for assistance via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or toll-free call at (800) 662-5200 and banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400, or (iii) contact ATHN by mail at Athena Technology Acquisition Corp., 125 Townpark Drive, Suite 300, Kennesaw, GA 30144.
Cautionary Note Regarding Forward-Looking Statements
This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Additional Information and Where to Find It
In connection with the proposed business combination, Athena Technology Acquisition Corp. (“Athena”) has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that has been declared effective by the SEC, which includes a prospectus of Athena with respect to the securities to be issued in connection with the business combination with Heliogen, Inc. (“Heliogen”) and a definitive proxy statement of Athena with respect to the Special Meeting. The combined proxy statement/prospectus relating to the proposed business combination will be mailed to Athena’s stockholders on or about December 6, 2021. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. The proposed business combination and related transactions will be submitted to stockholders of Athena for their consideration. Athena’s stockholders and other interested persons are advised to read the definitive proxy statement/prospectus and other documents filed in connection with Athena’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination and related transactions, because these materials contain important information about Heliogen, Athena and the proposed business combination and related transactions. The definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of November 23, 2021. Stockholders may also obtain a copy of the preliminary or definitive proxy statement/prospectus, once available, as well as other documents filed with the SEC by Athena, without charge, at the SEC’s website located at www.sec.gov or by directing a request to Phyllis Newhouse, President and Chief Executive Officer, Athena Technology Acquisition Corp., 125 Townpark Drive, Suite 300, Kennesaw, GA 30144, or by telephone at (970) 924-0446.
Participants in the Solicitation
Athena, Heliogen and their respective directors and executive officers and other persons may be deemed to be participants in the solicitations of proxies from Athena’s stockholders in respect of the proposed business combination and related transactions. Information regarding Athena’s directors and executive officers is available in its Registration Statement on Form S-1 and the prospectus included therein filed with the SEC on March 3, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests are contained in the definitive proxy statement/prospectus related to the proposed business combination and related transactions, and which can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Athena Technology Acquisition Corp.
Athena Technology Acquisition Corp. is an entirely women-led special purpose acquisition company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in the technology, direct-to-consumer and fintech industries.
About Heliogen
Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. The company’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit heliogen.com.
Athena Technology Acquisition Corp. Contacts
For Media:
Berns Communications Group
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(973) 727-8400
(917) 922-4435
Heliogen Contacts
For Media:
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For Investors:
Caldwell Bailey
ICR, Inc.
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AKRON, Ohio--(BUSINESS WIRE)--$BW #cleanenergy--Babcock & Wilcox (B&W) (NYSE: BW) and Fosler Solar, a Babcock & Wilcox company, welcomed U.S. Department of Energy Secretary Jennifer Granholm today for a tour of the company’s Gar Creek solar project in Kankakee, Ill., which is part of the Illinois Solar for All program.
B&W’s Fosler Solar subsidiary owns the 40-acre, 4.8-megawatt Gar Creek solar project, which is currently under construction and employs approximately 45 union workers, primarily representing United Brotherhood of Carpenters and Joiners of America Local 174. Anticipated for completion in the first quarter of 2022, the facility will provide clean power to nearly 1,000 Illinois residents through the Illinois Solar for All program, providing a significant cost savings on their energy bills. Illinois Solar for All provides families in low-income communities better access to clean, renewable energy through incentives that make solar installations and power more affordable.
“We were pleased to welcome Secretary Granholm today and appreciated the opportunity to discuss the role of renewable power in America’s clean energy future,” said B&W Chairman and Chief Executive Officer Kenneth Young. “As we look to dramatically reduce greenhouse gas emissions from energy generation and industry over the coming years, technologies such as solar, waste-to-energy, biomass-to-energy, generating hydrogen for energy and deploying carbon-capture technologies will be critical to our and the world’s success.”
“Gar Creek will provide affordable, clean, renewable energy to local residents, and has helped create dozens of union jobs that benefit the local community,” Young said. “We’re proud to own and lead a project that will have such a positive impact on the Kankakee community.”
Secretary Granholm noted that projects like Gar Creek will play a key role in expanding the availability of clean, renewable energy in the United States.
“Community solar is so unique because it really does allow access to solar for people who may not have a home that they own or who share a home,” Granholm said. “So, we (see this project) as part of our national community solar partnership. We have 600,000 homes now and we want to get to 5 million homes with community solar in the U.S. by 2025.”
The Gar Creek project was developed by Trajectory Energy Partners in conjunction with landowners, the Economic Alliance of Kankakee County, the Kankakee Community College, local unions, and community leaders. Fosler Solar purchased the project in 2020 and is leading construction and installation activities. Residents of the project’s anchor customer, the Preservation of Affordable Housing (POAH), will be given priority access to purchase electricity generated at Gar Creek at a reduced rate. Additional power will be offered to other Kankakee residents who apply for and meet income guidelines.
Trajectory Energy Partners is working with community groups across northern Illinois to offer eligible low-income residents an opportunity to subscribe to the project. More information on becoming a subscriber is available at www.comed.com/givearay.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.
About Fosler Solar
With more than 100 operational solar installations across the state of Illinois and active projects in New York, Virginia and Maryland, Fosler Solar, a Babcock & Wilcox company, is an experienced industry leader, committed to provide forward-thinking solar solutions with union labor, outstanding service, and the highest quality construction available in the solar industry. Fosler is headquartered in Illinois with a satellite office in NY.
About Trajectory Energy Partners
An Illinois based solar developer, Trajectory Energy Partners brings together a deep background in solar development, financing, and policy; as well as agriculture and community organizing. Trajectory has developed projects across Illinois ranging from community solar to utility scale projects. Learn more at trajectoryenergy.com.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the completion and subsequent operation of the Gar Creek solar project in Illinois, as well as the benefits to local residents and communities resulting from the project. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
330-860-6802 | 704.625.4944
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
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Winners to be Announced December 9th at a black-tie gala in New York City
FRAMINGHAM, Mass. & NEW YORK--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, has been named a finalist in the 23rd annual S&P Global Platts Global Energy Awards’ Rising Star Individual and Construction Project of the Year categories.
Ameresco Executive Vice President and General Manager of Federal Solutions Nicole Bulgarino has been selected as a finalist for the respected Rising Star Individual award. Nicole oversees the company’s Federal division and has developed, led and implemented over $2 billion in federal energy projects with frequent government agency partners like the Department of Defense, Department of Energy, Department of Homeland Security and more.
Ameresco has also been named a finalist for the Construction Project of the Year award for its innovative solar project with Hamilton Southeastern Schools (HSE). As part of the project, Ameresco installed solar PV arrays that power three of the Indiana district’s schools and helped the district incorporate sustainability education into its ongoing curriculum to provide students with access to learn new career paths.
“This year’s complement of 196 finalists truly indicates the outstanding innovation and supreme leadership occurring in so many sectors across our industries. Companies are tackling critical issues such as emissions control, digitization, investment to improve the quality of life, and so much more,” said Jenny Salinas, Vice President, Marketing, S&P Global Platts. “We are proud to honor these individuals and companies on their achievements.”
“Being selected as a finalist in multiple categories at the 2021 S&P Global Platts Global Energy Awards is a true honor,” said George Sakellaris, President and CEO, Ameresco. “We’ve been in this industry for over 30 years and are so grateful to be recognized for our contributions that are actively crafting a better world for the generations of tomorrow.”
Often described as “the Oscars of the energy industry,” the Global Energy Awards’ independent panel of esteemed judges will select winners for each award category from the corresponding group of finalists. Winners will be announced at the S&P Global Platts Global Energy Awards black-tie gala on December 9th in New York City. This year, the event will be held in person at Cipriani Wall Street and will follow all Covid related guidelines.
To view the complete list of Award categories and finalists, as well as more information on the Awards and upcoming ceremony, visit the website: www.globalenergyawards.com.
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 S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing, and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture, and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for companies, governments, and individuals to make decisions with confidence. For more information, visit http://spglobal.com/platts.
Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, today announced it has been included on the RippleMatch Next Gen 100 list, which recognizes organizations that are building standout workplaces for the next generation of talent. Organizations on the Next Gen 100 list invest in programs, benefits and cultures that enable their people to thrive personally and professionally. The list—available on the RippleMatch website—is informed by extensive data collected by RippleMatch on what Generation Z values in a workplace.
“Since nVent’s launch, we have promoted a culture where all of our employees feel respected, included and engaged,” said nVent Chief Human Resources Officer Lynnette Heath. “As a growing, global company, we invest in our employees’ growth and promote development opportunities and benefits they can leverage as they build the future of a more sustainable and electrified world. Specifically, we offer our early career employees a number of formal and informal growth opportunities, including management development and apprenticeship programs, mentorships and an early career employee resource group.”
nVent offers all employees several benefits, including:
RippleMatch powers the future of early career recruiting. Designed for the modern campus recruiter, its intelligent recruiting platform combines automation and data insights to dramatically increase productivity, reach and diversity. From source to hire, RippleMatch enables recruiters to connect with every student seeking a job, regardless of where they chose to attend school. To learn more, visit ripplematch.com.
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. Learn more at www.nvent.com.
nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned or licensed by nVent Services GmbH or its affiliates.
Stacey Wempen
Director, External Communications
nVent
763.204.7857
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BARCELONA--(BUSINESS WIRE)--Wallbox N.V., (NYSE:WBX) a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced that it is expected to return to CES Las Vegas January 5-8, 2022 following its success at the event in 2020.
Visitors should be able to discover Wallbox’s latest charging and energy management solutions for the home, business, and public segments in the West Hall 6627 of the Las Vegas Convention Center. The company plans to showcase how it combines innovation with outstanding design to drive the transition to EVs and more sustainable energy use.
“We want to showcase how we are improving EV drivers' experience no matter where they are,” said Eduard Castañeda, CPO and co-founder of Wallbox. “As 80% of charging happens in the home, that’s where we started - now we are using these insights to help EV drivers by offering the best suite of solutions whether they are at home, work or travelling around the country.”
The company is part of the transportation and vehicle technology exhibit and is also expected to unveil its latest innovation, designed exclusively to meet the needs of North American EV drivers during CES. This follows the company’s successful launch into the U.S. market in 2021 when it launched Pulsar Plus, which became the #1 best-selling EV charger on Amazon within three months of launch. Wallbox has since launched Pulsar Plus 48 Amp, one of the fastest home chargers in the U.S. designed for next generation EVs, as well as Eco-Smart and PowerBoost, Wallbox’s proprietary energy management software for the home.
“Aligned with our growth in the United States, we have significantly expanded our presence at CES 2022 where we plan to meet with new and existing partners throughout the course of the event,” said Enric Asunción, CEO and co-founder of Wallbox. “Last year alone, we expanded into more than 20 new markets, bringing our products to over 80 markets globally.”
Where: Las Vegas Convention Center, West Hall 6627, Transportation/Vehicle Technology
When: January 5 - 8, 2022
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 80 countries.
Founded in 2015 and headquartered in Barcelona, the company now employs over 700 people in its offices in Europe, Asia, and the Americas.
For additional information, please visit www.wallbox.com.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Wallbox’s future financial or operating performance. For example, forward-looking statements include but are not limited to Wallbox’s expected participation and announcements in CES. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “predict,” “potential,” “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such 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. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Wallbox’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to: Wallbox’s history of operating losses as an early stage company; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; Wallbox’s ability to successfully manage its growth; the accuracy of Wallbox’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; losses or disruptions in Wallbox’s supply or manufacturing partners; Wallbox’s reliance on the third-parties outside of its control; risks related to Wallbox’s technology, intellectual property and infrastructure; and other important factors discussed under the caption “Risk Factors” in Wallbox’s Prospectus filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com.
These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Elyce Behrsin
Public Relations
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DUBLIN--(BUSINESS WIRE)--The "FGD Market and Strategies" report has been added to ResearchAndMarkets.com's offering.
This report forecasts the market for flue gas desulfurization systems for every country of the world; analysis of both the new and retrofit market. Forecasts are in MW and $ and segmented by dry vs. wet and limestone vs. other.
Please note that this product is a 1 year online-access subscription that begins at time of purchase.
For more information about this report visit https://www.researchandmarkets.com/r/jx2zcx
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Certification ensures compliance with high ecological and social sustainability requirements, greenhouse gas emissions savings and traceability throughout the supply chain
ASHLEY, Ind.--(BUSINESS WIRE)--Brightmark, LLC the global waste solutions provider, today announced that its Ashley, Indiana Plastics Renewal Facility has been ISCC PLUS (International Sustainability and Carbon Certification) certified. The certification is provided by SCS Global Services, a pioneer and leader in the field of sustainability standards and third-party certification, working across the economy in the natural resources, built environment, food and agriculture, consumer products and climate sectors.
ISCC PLUS certifications are conducted by independent third-party Certification Bodies cooperating with ISCC. Competent and trained auditors, evaluating compliance with the ISCC sustainability standard, conduct the audits. ISCC certification ensures that biomass is not produced on land with high biodiversity and high carbon stock, good agricultural practices protecting soil, water and air are applied, human rights, labor and land rights are respected, sustainable material is traceable throughout international supply chains and that greenhouse gas reduction targets are met.
"Brightmark is proud to receive ISCC PLUS certification for our flagship Ashley, Indiana plastics renewal facility" said Bob Powell, Founder and Chief Executive Officer of Brightmark. "SCS Global Services has worked hard for decades to recognize companies striving to advance sustainability, and this certification serves as an additional proof point of Brightmark's commitment to Reimagining Waste while ensuring environmental responsibility throughout our operations.”
SCS Global Services has established programs and services designed to recognize the outstanding achievements of companies, institutions and organizations who are meeting the highest levels of performance in environmental protection, social/ethical responsibility, product safety and quality, and stimulate continuous improvement on the path toward sustainability. In this undertaking, they employ a life-cycle framework, state-of-the-art science, proven analytical methods, performance metrics and professional expertise.
When fully operational, Brightmark’s Ashley plastics renewal facility, now in pilot phase, will divert 100,000 tons of plastic waste each year from landfills and incinerators and convert it into 18 million gallons of ultra-low sulfur diesel fuel and naphtha blend stocks and 6 million gallons of wax – this is more plastic than the weight of 5,400 tractor-trailers or seven Brooklyn Bridges. Through a breakthrough proprietary process, Brightmark has the unique ability to recycle all types of plastic (1-7) – including the difficult to recycle plastic types 3-7 which cannot readily be recycled, like plastic film, styrofoam, flexible packing, car parts, toothbrushes and children’s toys – directly into useful materials. The Ashley facility is anticipated to achieve fully operational status in 2022. Brightmark utilizes technology of its subsidiary company Res Polyflow, LLC in the plastics conversion process.
About Brightmark
Brightmark is a global waste solutions company with a mission to Reimagine Waste. The company takes a holistic, closed loop, circular economy approach to tackling the planet’s most pressing environmental challenges with imagination and optimism for the future. Through the deployment of disruptive, breakthrough waste-to-energy solutions focused on plastics renewal (plastic waste- to-fuel) and renewable natural gas (organic waste-to-fuel), Brightmark enables programs specifically tailored to environmental needs in order to build scalable project solutions that have a positive impact on the world and communities in which its stakeholders live and work. Brightmark's flagship Ashley, Indiana Plastics Renewal Facility is ISCC PLUS certified, ensuring compliance with high ecological and social sustainability requirements, greenhouse gas emissions savings and traceability throughout the supply chain. For more information, visit www.brightmark.com.
Media:
Cory Ziskind, ICR
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646-277-1232
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Shipping Company has joined the Sea Cargo Charter, a benchmark initiative for responsible shipping activities, transparent greenhouse gas reporting, and improved decision making in line with United Nations decarbonization targets.
The Sea Cargo Charter establishes a common baseline to quantitatively assess and disclose whether shipping activities are aligned with adopted climate goals. The Sea Cargo Charter is consistent with the policies and ambitions adopted by the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping. This includes its ambition for greenhouse gas emissions from international shipping to peak as soon as possible and to reduce shipping’s total annual greenhouse gas emissions by at least 50 percent of 2008 levels by 2050.
“The Sea Cargo Charter provides a global standard for reporting shipping emissions that advances the decarbonization of the maritime industry. We are excited to join and partner with Sea Cargo Charter to enhance the transparency and accuracy of reporting which will promote responsible environmental performance,” said Mark Ross, president of Chevron Shipping Company.
"We are very pleased to welcome Chevron in the Sea Cargo Charter. As a large multinational corporation and an oil major, we look forward to their contribution to our shared goal. It is a real pleasure to see another industry leader joining the Charter thus committing to our objective to decarbonize shipping," said Jan Dieleman, chair of the Sea Cargo Charter Association and president of Cargill’s Ocean Transportation business.
The development of the Sea Cargo Charter has been led by global shippers – Anglo American, Cargill Ocean Transportation, Dow, Norden, TotalEnergies, Trafigura, Euronav, Gorrissen Federspiel and Stena Bulk; with expert support provided by the Global Maritime Forum, Smart Freight Centre, University College London Energy Institute/UMAS, and Stephenson Harwood. The Sea Cargo Charter is intended to evolve over time as the IMO adjusts its policies and regulations to the changing environmental landscape.
ABOUT CHEVRON SHIPPING COMPANY:
Chevron Shipping Company LLC is a wholly-owned subsidiary of Chevron Corporation. Chevron Shipping’s fleet has provided a vital link between our operations and the marketplace for more than 125 years. Today, Chevron Shipping is an industry leader in safely and reliably transporting crude oil, liquefied natural gas (LNG) and refined products that power the world. Chevron Shipping Company is based in San Ramon, Calif. More information is available at www.chevron.com.
Chevron: Ray Fohr -- 713-372-4923
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Sea Cargo Charter:
Interim Head of Communications, Sofie Rud, This email address is being protected from spambots. You need JavaScript enabled to view it., +45 2810 2332.
https://www.seacargocharter.org/
Group of Leading, Mission-Critical Global Freight Forwarding and Logistics Providers Expands Presence in Fast-Growing Film & TV Sectors
LOS ANGELES--(BUSINESS WIRE)--Global Critical Logistics (“GCL”), a global holding company for mission-critical freight forwarding and global logistics providers to specialty sectors and a portfolio company of ATL Partners, has acquired Dynamic International Freight Services and Dynamic Dox (collectively, the “Dynamic Group”), a leading, non-asset-based provider of Film & TV production logistics solutions based in the UK. Terms of the transaction were not disclosed.
GCL includes Rock-it Global, a leading provider of critical international freight forwarding solutions to the live entertainment and music touring sports and broadcasting industries as well as Dietl International and Cosdel which serve the fine arts and classic and high-end automobile sectors, respectively. GCL has operations in 13 countries and trusted relationships with more than 200 international partners.
The Dynamic Group will continue to be led by Founder & CEO Tony Scott and operate as a separate brand within GCL. The Dynamic Group is one of the top international logistics providers for film & TV productions – a market that has experienced significant growth as a result of the surge in demand for content from streaming providers as well as the move towards higher-quality productions with complex technical needs and on-location filming returns.
“We are thrilled to welcome the Dynamic Group into the GCL family of companies and look forward to building on their well-earned reputation for providing best-in-class service and innovation to the global film & TV industries,” said Paul J. Martins, President & CEO of GCL. “We are proud to be partnering with Tony and his team, who have built a strong, loyal customer base and exemplify the dedication and passion to deliver on service that drives the culture of GCL. We are committed to bringing our resources to bear and helping the business continue to scale and deepen its already strong relationships across the entertainment sectors, globally.”
“Over the last 34 years, we’ve developed a highly capable and dedicated team that strives to deliver an exceptional experience in a highly demanding and dynamic industry every day,” said Tony Scott. “As part of GCL, an experienced and likeminded organization with world-class logistics and freight forwarding operations globally, the Dynamic Group will be positioned to offer an even broader array of logistics services and support to meet the evolving needs of our partners and customers.”
ABOUT GLOBAL CRITICAL LOGISTICS (GCL)
Headquartered in Los Angeles CA, Global Critical Logistics (GCL) is the holding company for Rock-it Global (a consolidated company of the former Rock-it Cargo and Sound Moves) a provider of high-touch, mission-critical air, ocean and surface freight forwarding and logistics to the live entertainment and music touring, sports and broadcasting, fine arts, classic and high-end automobiles, film & TV, corporate events, industrial projects, and humanitarian relief end markets through its family of affiliated leading brands (including but not limited to, Rock-it Global, Dietl, Cosdel, CargoLive and Waiver). Through their offices in North America, Europe, the Middle East, China, Japan, Australia, Central and South America, augmented by a network of long-term partner agents specializing in critical logistics, the companies of CGL have served thousands of customers annually for over 40 years with bespoke, specialized logistics solutions for the most demanding transportation requirements on all seven continents. For more information please visit www.gcl.global.
ABOUT DYNAMIC GROUP
Dynamic International is headquartered at London Heathrow and specializes in critical logistics and freight forwarding. Established in 1988 the company provides superior levels of services through owned offices and selected agents around the globe. The company has been a leading provider of film and TV logistics for three decades. Dynamic works with a wide array of production companies and understand that every production is unique. Dynamic International is a transport specialist immersed in the culture of film making providing all services to the business of overseas location filming. From initial strategy meetings to inventive solutions the Dynamic staff work alongside production managers to ensure all logistics needs are met, on time and on budget. In addition to a fleet of satellite tracked vehicles to cover the UK and Europe the company provides advanced tracking and visibility IT offerings, secure warehousing and packaging services as well as Customs clearance and documentation including large in house ATA Carnet department covering temporary export and import shipments. For more information please visit www.dynamic-freight-shipping.co.uk.
ABOUT ATL PARTNERS
Founded in 2014, ATL Partners is a premier sector-focused private equity firm that invests in aerospace, transportation and logistics companies. ATL brings deep sector expertise to its investment approach with ten investment professionals and seven Executive Board members who have decades of combined operating experience in each of ATL’s core sectors. For more information about ATL Partners, visit www.atlpartners.com.
Media
Nathaniel Garnick/Alex Jeffrey
Gasthalter & Co.
(212) 257-4170
Proceeds to be used for general corporate purposes, which may include (without limitation) funding potential acquisitions, project-related capital and working capital, and to support clean energy growth initiatives
AKRON, Ohio--(BUSINESS WIRE)--$BW #BabcockWilcox--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced that on December 8, 2021 it priced an underwritten public offering of $140 million aggregate principal amount of 6.50% senior notes due 2026 (the “Senior Notes”). B&W has granted the underwriters a 30-day option to purchase up to an additional $21 million aggregate principal amount of Senior Notes in connection with the offering. The offering is expected to close on December 13, 2021, subject to the satisfaction of customary closing conditions.
B&W and the Senior Notes both received a rating of BB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. The Company has applied to list the notes on NYSE under the symbol “BWNB” and expects the notes to begin trading within 30 business days of the closing date of this offering, if approved.
The Company expects to use the net proceeds of this offering for general corporate purposes, which may include (without limitation) funding potential acquisitions, project-related capital and working capital and to support clean energy growth initiatives. Pending any specific use, the Company may use any remaining net proceeds to invest in short-term interest-bearing accounts, securities or similar investments.
B. Riley Securities, Inc. is acting as lead book-running manager for the offering. D.A. Davidson & Co., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., William Blair & Company, L.L.C. and EF Hutton, division of Benchmark Investments, LLC are acting as joint book-running managers for the offering. Aegis Capital Corp., Boenning & Scattergood, Inc., Brownstone Investment Group, LLC, Huntington Securities, Inc., InspereX LLC, Wedbush Securities Inc. and B.C. Ziegler & Company are acting as co-managers for the offering.
The Senior Notes will be offered under the Company's shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission ("SEC") on November 8, 2021 and declared effective by the SEC on November 22, 2021. The offering will be made only by means of the prospectus supplement dated December 6, 2021 and the accompanying base prospectus dated November 22, 2021, as may be further supplemented by any free writing prospectus and/or pricing supplement that the Company may file with the SEC. Copies of the preliminary prospectus supplement and the accompanying base prospectus and any free writing prospectus and/or pricing supplement for the offering may be obtained on the SEC's website at www.sec.gov, or by contacting B. Riley Securities by telephone at (703) 312-9580, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Senior Notes, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the Company's public offering of the Senior Notes and intended net proceeds of the offering thereof. Factors that could cause such actual results to differ materially from those contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable) and the prospectus supplement related to the offering of the Senior Notes. These factors should be considered carefully, and the Company cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About Babcock & Wilcox Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox Enterprises
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox Enterprises
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Keyframe Capital leads venture round to bring Logical Buildings’ GridRewards™ software, which boosts real estate companies’ ESG performance and empowers consumers to earn cash payments for reducing home energy use, to millions more single family and multifamily homes across the U.S.
NEW YORK--(BUSINESS WIRE)--Logical Buildings, the industry-leading sustainability, smart building, and virtual power plant (VPP) software and solutions provider for the built world, today announced the close of a $10 million funding round, led by Keyframe Capital. The funds will facilitate a national rollout of Logical Buildings’ VPP software, allowing real estate owners and managers to fulfill increasingly stringent Environmental, Social, and Governance (ESG) requirements. The GridRewardsTM mobile app enables consumers to participate directly in VPPs that earn them hundreds of dollars a year in rewards, create outsized carbon footprint reductions and prevent brownouts. GridRewards seamlessly and securely integrates with utility smart meters, thermostats and energy/carbon markets, turning millions of residential and small business customers into grid-interactive, efficient consumers instantly, fundamentally improving how energy markets function.
“With investors, regulators, and the general public demanding greater ESG transparency and accountability, GridRewards is the best tool to help reduce the carbon emissions of real estate owners and managers in a measurable and sustainable way,” said Jeff Hendler, CEO at Logical Buildings. “As the first personalized energy intelligence and revenue-generating software for residential and small commercial energy users in New York and Westchester, GridRewards is an incredible new tool for owners and managers to engage their residents and tenants with software to slash carbon emissions and earn money doing it.”
In the New York City metro area, GridRewards is harnessing the new Con Edison, nearly $2 billion, electric and gas advanced metering infrastructure (AMI) hardware upgrade to create the highest payout, self-signup, energy monetization app in the country. GridRewards is available to both commercial and residential owners as well as the 3.5 million tenants in New York City.
Logical Buildings’ technology suite has been featured in the ESG reports of some of the largest real estate companies in the U.S., including AvalonBay, UDR, Mack Cali, and Jamestown, and provides residents with crucial insights into their energy use during the massive redistribution of energy usage from commercial offices to residences caused by the COVID-19 pandemic.
With $10 million in new funding, Logical Buildings will accelerate its national expansion, bringing GridRewards and its many benefits to major urban markets in California, Illinois, Texas, Florida, Ontario and other high-population regions. As more U.S. utilities roll out AMI, trillions of new energy usage data points per year are becoming available. Those data points comprise the backbone of future energy marketplaces and cleaner, more resilient, and more reliable electrical grids. Logical Buildings is poised to turn every building with AMI into an energy-saving, carbon-cutting participant in a VPP—a multibillion-dollar opportunity.
“As buildings continue to electrify and loads become more complex, integrating buildings into the grid will become increasingly critical and valuable for both building owners and the grid.”” said Alex Brown, Partner at Keyframe Capital. “The company, with its easy-to-implement offerings, is uniquely positioned to deliver huge value to their real estate and utility partners and materially reduce emissions in the process.”
“We’re creating scalable carbon emissions reductions by empowering millions of small energy users with accessible, personalized and gamified software to take charge of their utility bill, become more intelligent energy users and earn significant money in the process,” said David Klatt, COO at Logical Buildings. “As a U.S. Department of Energy Grid Interactive Energy Efficient Building Solutions provider and Connected Communities winner, we look forward to deploying the capital from this raise to engage residents across the Con Edison territory and beyond, including residents in lower-middle-income apartment buildings where GridRewards savings and cash payments have a larger day-to-day social impact.”
With no hardware installation required or upfront costs, Logical Buildings provides consumers with a seamless way to take control of how and when they use energy. This season, more than 98% of current GridRewards users have earned money—paid as a direct cash back that can be redeemed instantly or via check—while reducing their energy use. Users also have the option to donate their earnings from GridRewards to local organizations to further enhance decarbonization and environmental justice. For example, one GridRewards user living in a two-bedroom condominium in Brooklyn, downloaded the app last year after seeing her home energy costs rise while working from home. Using the app, she earned $200 for participating in GridRewards programs, reduced her monthly electric bill by $142 and reduced her home energy carbon emissions by 50%.
The push towards electrification is providing fuel for Logical Buildings’ products (GridRewardsTM and SmartKit AITM) in every sector. AMIs and decarbonization are spreading nationally, with Boston recently announcing new carbon legislation. Every state in the northeast is either implementing or has filing plans for AMI, creating trillions of necessary data points for how energy is consumed and managed.
About Logical Buildings
Logical Buildings is an industry leading sustainability, smart building and virtual power plant software and grid-interactive efficient building solutions provider for the built world. Our revolutionary technologies are combating climate change by empowering residential, commercial, and industrial energy users to earn money, enhance building health and reduce carbon footprint, all from within user-friendly, award-winning mobile apps. Founded in 2012, the company now operates in major national urban markets, such as New York, Boston, Dallas, Los Angeles, San Francisco, Seattle, Washington, D.C., Jersey City, Chicago, and Miami, and more. To learn more, visit logicalbuildings.com and follow Logical Buildings on LinkedIn.
About Keyframe Capital
Keyframe is an NYC-based cross-asset investment firm. The firm’s generalist, cross-asset mandate allows it to invest across a diverse range of business models and capital structures. Keyframe looks to build long term partnerships with companies, and to leverage its flexibility to help solve their most complex asset and corporate financing requirements.
For additional information please visit https://www.keyframecapital.com/.
Josh Garrett for Logical Buildings
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LONDON--(BUSINESS WIRE)--EO Charging (“EO”), a leading UK-based provider of technology-enabled turnkey solutions for electric vehicle (“EV”) fleets, today announced the appointment of Tom vonReichbauer to the company’s Board of Directors upon completion of EO’s business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected in the first quarter of 2022. vonReichbauer, who will serve as Audit Committee Chair, will bring extensive experience to EO from within the consumer energy industry, having worked previously at Tesla, Google, Nest and Ford.
vonReichbauer currently serves as CFO at Sunrun, the U.S.’ leading residential solar, storage and energy services company. In his role leading the finance, accounting, technology, and supply chain teams, he is responsible for growing Sunrun’s long-term value and competitiveness. vonReichbauer’s financial and strategic expertise will be crucial for EO as the company expands into the U.S. market and looks to capitalise on the recent tailwinds from the Biden Administration’s infrastructure bill and Build Back Better Act.
“EO is at a critical inflection point in its history – from both a financial and operational standpoint,” said Charlie Jardine, EO’s CEO and Founder. “Tom has worked for, and advised, some of the most innovative and well-run global organisations and his significant expertise in these areas will be invaluable for our business as we undergo this substantial transformation. We can’t wait to welcome him on to our board as EO takes this next step.”
Prior to joining Sunrun, vonReichbauer spent nearly six years at Nest, the home IoT device company that created the Nest Thermostat. He joined in 2013 as the company’s first full-time CFO and led the company’s successful sale to Google. Following the sale, he served as Chief Business Officer for Nest, responsible for worldwide sales, business development, partnerships, and go-to-market activities, before moving over to Google as VP within the company’s consumer hardware team.
vonReichbauer also has extensive automotive experience through positions at Tesla Motors, Proterra and Ford. At Tesla he served in several key financial roles, including Director of Finance. He was instrumental in the product development of the Tesla Model S, as well as the strategic planning, financing and corporate development activities leading to the company’s initial public offering and subsequent public equity offerings. At Proterra, the marketing-leading manufacturer of zero-emission, battery-electric buses, he served on the Board of Directors and as Chair of the Audit Committee.
“EO is one of the most exciting companies I’ve come across in the EV charging space. They have quickly established themselves as a leader in fleet charging in the UK and Europe, and I see tremendous opportunity for the company in the U.S.,” said vonReichbauer. “I was honoured when Charlie and the First Reserve team asked to appoint me to the post-merger Board of Directors, and I look forward to helping the team as they prepare for the public markets and further expansion into new territories.”
Despite the pandemic, EO saw its revenues triple and headcount double in 2020. Earlier in 2021, EO was ranked number 27 on the FT’s list of Europe’s fastest growing companies, the highest-ranked business in the EV sector. With a bolstered international team, board and blue-chip customers such as Amazon, DHL, Go-Ahead, Tesco, and Uber, EO forecasts significant growth in 2022.
EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
About EO
EO Charging (EO) is a leading technology solutions provider in the EV sector. EO deploys EV charging stations, hardware-agnostic cloud-based software, electrical installation, grid upgrades and ongoing service and maintenance for fleets. EO also provides this end-to-end solution for fleets that require mission critical infrastructure.
Founded in 2014, EO’s technology is used by a number of the world’s largest businesses and fleet operators and it now distributes to over 35 countries around the world. It aims to become the global leader in charging electric van, truck, bus and car fleets.
EO Charging previously announced an agreement for a business combination with First Reserve Sustainable Growth Corp. (NASDAQ: FRSG), which is expected to result in EO Charging becoming a public company listed on the NASDAQ exchange.
EO was ranked number 27 on the Financial Times’ FT1000 list of Europe’s fastest-growing companies. To learn more, please visit www.EOcharging.com and follow us @EOCharging on Twitter and LinkedIn.
Forward Looking Statements
The information in this press release includes "forward-looking statements". All statements, other than statements of present or historical fact included in this press release, regarding the proposed business combination between First Reserve Sustainable Growth Corp. (“FRSG”), Juuce Limited (the “Company”) and EO Charging (“EO”), each of such parties’ ability to consummate the transaction, the benefits of the transaction and the combined company's future financial performance, as well as the combined company's strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, FRSG, the Company and EO disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. FRSG, the Company and EO caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of any of FRSG, the Company or EO. In addition, FRSG, the Company and EO caution you that the forward-looking statements contained in this press release are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the business combination or give rise to the termination of the Business Combination Agreement and Plan of Reorganization, dated as of August 12, 2021, by and among FRSG, FRSG Merger Sub Inc., EO and the Company, and the other agreements related to the business combination (including catastrophic events, acts of terrorism, the outbreak of war, COVID-19 and other public health events), as well as management’s response to any of the foregoing; (ii) the outcome of any legal proceedings that may be instituted against FRSG, the Company, EO, their affiliates or their respective directors and officers following announcement of the transactions; (iii) the inability to complete the business combination due to the failure to obtain approval of the stockholders of FRSG, regulatory approvals, or other conditions to closing in the transaction agreement; (iv) the risk that the proposed business combination disrupts FRSG's or the Company's current plans and operations as a result of the announcement of the transactions; (v) the Company's and EO’s ability to realize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the pace and depth of EV adoption generally, and the ability of the Company to accurately estimate supply and demand for its EV charging products and services, and to grow and manage growth profitably following the business combination; (vi) risks relating to the uncertainty of the projected financial information with respect to the Company, including the conversion of pre-orders into binding orders; (vii) costs related to the business combination; (viii) changes in applicable laws or regulations, governmental incentives and fuel and energy prices; (ix) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (x) the amount of redemption requests by FRSG’s public stockholders; and (xi) such other factors affecting FRSG that are detailed from time to time in FRSG’s filings with the Securities and Exchange Commission (the "SEC"). Should one or more of the risks or uncertainties described in this press release, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and its periodic filings with the SEC, including its Quarterly Report on Form 10-Q for quarterly period ended June 30, 2021. FRSG's SEC filings are available publicly on the SEC's website at www.sec.gov.
Important Information for Investors and Stockholders
In connection with the proposed business combination, a registration statement on Form F-4 that includes a preliminary proxy statement/prospectus has been filed by EO with the SEC. After the registration statement is declared effective, the definitive proxy statement will be distributed to FRSG’s stockholders in connection with FRSG’s solicitation for proxies for the vote by FRSG’s stockholders in connection with the proposed business combination and other matters as described in the Form F-4, as well as a definitive prospectus of EO relating to the offer of the securities to be issued in connection with the completion of the business combination. Copies of the Form F-4 may be obtained free of charge at the SEC's website at www.sec.gov. FRSG’s stockholders are urged to read the preliminary proxy statement/prospectus and the other relevant materials (including, when available, the definitive proxy statement/prospectus) when they become available before making any voting decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
No Offer or Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of FRSG, EO or Juuce, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, as amended, or exemptions therefrom.
Participants in the Solicitation
FRSG, the Company and EO and their respective directors and officers may be deemed participants in the solicitation of proxies of FRSG's stockholders in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of FRSG's executive officers and directors in the solicitation by reading FRSG's final prospectus for its initial public offering, which was filed with the SEC on March 5, 2021, and the proxy statement/prospectus and other relevant materials filed with the SEC in connection with the business combination when they become available. Information concerning the interests of FRSG's, the Company’s and EO’s participants in the solicitation, which may, in some cases, be different than those of their stockholders generally, will be set forth in the proxy statement/prospectus relating to the business combination when it becomes available.
EO Contacts:
SEC Newgate UK
Ian Morris / Sophie Morello / Jessica Hodson Walker / Tim Le Couilliard
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For Investors:
ICR, Inc.
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For US Media:
ICR, Inc.
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DUBLIN--(BUSINESS WIRE)--The "Mineral Wool Market Research Report by Type, End Product, Application, End-user, and Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Mineral Wool Market size was estimated at USD 12.76 billion in 2020, is expected to reach USD 13.74 billion in 2021, and projected to grow at a CAGR of 8.02% reaching USD 20.29 billion by 2026.
Competitive Strategic Window
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Mineral Wool Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Mineral Wool Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Mineral Wool Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Mineral Wool Market?
4. What is the competitive strategic window for opportunities in the Global Mineral Wool Market?
5. What are the technology trends and regulatory frameworks in the Global Mineral Wool Market?
6. What is the market share of the leading vendors in the Global Mineral Wool Market?
7. What modes and strategic moves are considered suitable for entering the Global Mineral Wool Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/xvdt2n
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ES-19 is the latest in Garmin’s continued expansion into the regional air transport market
OLATHE, Kan.--(BUSINESS WIRE)--Garmin® International, Inc., a unit of Garmin Ltd. (NYSE: GRMN), today announced a long-term agreement with Heart Aerospace to provide the state-of-the-art Garmin G3000® integrated flight deck for the ES-19 electric airliner. Heart Aerospace is working to develop the new ES-19, a 19-seat electric airliner that has the potential to provide the regional air transport market with a more sustainable and environmentally friendly aircraft option as early as 2026. Additionally, United Airlines has conditionally agreed to purchase 100 ES-19 aircraft once the aircraft meets United’s safety, business and operating requirements.
“It’s an honor to have our G3000 integrated flight deck chosen for the ES-19 and to work alongside the Heart Aerospace and United Airlines teams in their commitment to long-term sustainability by reducing aviation’s carbon emissions,” said Carl Wolf, Garmin vice president of aviation and marketing. “We’re confident in Heart’s practical, market-driven approach to expanding the regional air transport market with the introduction of the first all-electric airliner, whose lower operating costs have the potential to enable more universal access to air travel and a broader network of short-haul flights.”
“We’re thrilled to have Garmin provide their industry-leading G3000 integrated flight deck, customized and optimized for integration and operation, in our ES-19 all-electric airliner,” said Anders Forslund, CEO of Heart Aerospace. “Known for award-winning innovation and unmatched reliability and performance, Garmin was the perfect avionics choice for this transformational aircraft.”
The modular Garmin G3000 integrated flight deck boasts lightweight and vibrant high-resolution flight displays that support navigation, communication and flight sensor solutions and integrates seamlessly into the ES-19 aircraft systems. Specifically tailored to meet the needs of electric aircraft, the G3000 system that will be featured in Heart Aerospace’s ES-19 delivers enhanced capabilities to optimize the aircraft’s electric drive train and battery management systems. The G3000 is architected to provide the ability to efficiently facilitate future system upgrades as the electric aircraft industry continues to evolve.
“We’re excited to see a top-tier avionics supplier like Garmin signing up with Heart Aerospace to bring a next-generation avionics system to the ES-19 electric aircraft,” said Michael Leskinen, vice president of corporate development and investor relations for United Airlines.
Heart Aerospace is an electric airplane company headquartered in Gothenburg, Sweden, developing the ES-19, a nineteen-passenger regional aircraft driven entirely by batteries and electric motors. The first ES-19 is scheduled to enter into service by 2026. The first-generation aircraft will have a maximum range of up to 250 miles using lithium-ion batteries. The ES-19 will have zero operational emissions and offer significantly lower operating costs compared to similar sized gas-turbine aircraft. The ES-19 aircraft will also be quieter than its turboprop counterparts, with less vibration and noise, making it ideal for the development of short-range regional air travel.
Garmin’s aviation business segment is a leading provider of solutions to OEM, aftermarket, military and government customers. Garmin’s portfolio includes navigation, communication, flight control, hazard avoidance, an expansive suite of ADS-B solutions and other products and services that are known for innovation, reliability, and value. For more information, visit Garmin's virtual pressroom at garmin.com/newsroom, email This email address is being protected from spambots. You need JavaScript enabled to view it., or follow us at facebook.com/garminaviation, twitter.com/garminaviation, instagram.com/garminaviation, youtube.com/garminaviation or linkedin.com/company/garmin.
About Garmin International, Inc.: Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin and G3000 are registered trademarks of Garmin Ltd. or its subsidiaries.
About Heart Aerospace: Heart Aerospace is an electric airplane company based in Gothenburg, Sweden. The company is developing the ES-19, a nineteen-passenger aircraft scheduled to enter into service by 2026. The company was founded in 2018 and was part of the Y Combinator accelerator program in 2019. For more info, visit heartaerospace.com.
All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 26, 2020, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Carly Hysell
913-397-8200
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Tanguy Claquin appointed as Global Head of Sustainability
MONTROUGE, France--(BUSINESS WIRE)--This announcement is part of Crédit Agricole Group’s joint approach for its Societal Project as defined in its medium-term plan. It is comprised of three priorities: climate, social cohesion and agricultural and agri-food transitions.
Climate protection has been a key commitment for Crédit Agricole CIB for many years, whether by implementing best practices, its pioneer role on sustainable debt products range, or even the protection of conservation areas, and by supporting businesses in their energy transition.
The 2022 Group Medium Term Plan announced in 2019 made the following four commitments:
Today, the Bank announces a more ambitious framework demonstrating its commitment to putting sustainable and green finance at the heart of its strategy and is determined to continue to deliver on its commitments.
Crédit Agricole CIB strengthens its sector exclusion policies in hydrocarbons
Crédit Agricole CIB further toughens its exclusion policies for the most polluting energies. This follows an update in 2020 for the following sectors: mining and metals, coal-fired power plants and transport infrastructure.
Strengthening our sector policies
On October 18th, Crédit Agricole CIB committed through the Crédit Agricole Group, and alongside five other French banks, to stop financing, from January 2022, projects directly related to shale oil, shale gas and oil from tar sands, or companies whose exploration and production of these energies represent more than 30% of their activities.
Widening our protection of the Arctic region
The Arctic has extremely fragile ecosystems. To protect them, Crédit Agricole CIB committed in 2017 to stop direct financing of oil projects in this region (on-shore and off-shore). These exclusion criteria are now extended to all new gas projects in the region. Furthermore, the exclusion zone is extended to the AMAP zone for the terrestrial Arctic and beyond the Köppen4 line in the marine Arctic.
Crédit Agricole CIB moves to a Net Zero5 trajectory
As a member of the Net Zero Banking Alliance, which Crédit Agricole Group joined in July 2021, Crédit Agricole CIB announces the first milestones of its alignment strategy by publishing its targets in the energy sector.
Reducing our exposure to Oil
Crédit Agricole CIB has committed to reduce its exposure6 to upstream production of oil by 20% by 2025 compared to 2020.
Substantially increasing our support for non-carbon energies
Crédit Agricole CIB will increase its exposure7 to non-carbon energies (production and storage) by 60% by 2025. The main focus will be on financing renewable energies, a sector in which the Bank has been active since 1997 and in which it is a recognised market leader. It will also focus on low carbon hydrogen by offering tailor-made financing solutions and advisory services.
In the first half of 2022, Crédit Agricole CIB will publish its decarbonisation plan for the other sectors in which the carbon footprint is significant such as transport, automobile, infrastructure, construction and steel.
Crédit Agricole CIB supports its clients in their energy transition and in their decarbonisation strategy
Supporting our clients in their own climate transition is a major component of our strategy.
Deploying the climate transition scoring to all clients
Launched at the beginning of 2021, the climate transition score is an assessment of how our clients are exposed and their adaptation to the energy transition. This score, which is used by the whole Crédit Agricole Group, complements the financial score and is applied to 8000 large corporate clients and will be gradually extended to medium-sized companies. It will be a powerful tool, both for monitoring and dialogue, to support our clients in their decarbonisation journey.
Adapting our organisation to sustainable finance and the energy transition
As a pioneer in responsible finance and in financing the climate transition, Crédit Agricole CIB relies on more than 250 experts to support its clients on these topics. The Bank today announces that it will strengthen its organisation by expanding its Sustainable Investment Banking team in key geographies and sectors, by creating a Climate & Sustainability Strategy team dedicated to the Bank’s transition and by developing its internal network of Sustainable Finance Coordinators in all business line and support function. As part of this, Tanguy Claquin is appointed Global Head of Sustainability. In his new role, Tanguy reports to Didier Gaffinel, Global Head of Coverage and Investment Banking. He also joins the Bank’s Management Committee.
“I am convinced that we all have a personal responsibility in the fight against global warming, for ourselves and future generations. This conviction is at the heart of the Crédit Agricole Group values. As Crédit Agricole CIB CEO and as an individual, I will continue to promote these initiatives and commitments enabling us to actively contribute to positive change. We will continue to act in the interest of our clients and the society, especially by supporting their energy transition,” commented Jacques Ripoll, Crédit Agricole CIB Chief Executive Officer.
***
Biography – Tanguy Claquin
Tanguy Claquin started his carrier in 1999 in management consulting. In 2002, he joined CDC Ixis (now Natixis) where he set up the weather derivatives, cat bonds and insurance securitisation structuring and trading activity. He joined Crédit Agricole CIB in 2006 in charge of the origination and placement of insurance-linked securitisations and alternative risk transfer. In 2009, Tanguy created the Sustainable Banking unit making Crédit Agricole CIB the first French investment bank with a financial advisory and placement team specialised in socially responsible investments. Tanguy has been instrumental in making Crédit Agricole CIB one of the global leader of green, societal and sustainable bonds.
Tanguy Claquin is a graduate of the Ecole Normale Supérieure de Lyon and holds an Atmospheric Physics PhD.
About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2021). Nearly 8,600 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
For more information, please visit www.ca-cib.com
1 According to a schedule complying with the Paris Agreement: 2030 for all OECD countries and 2040 for the rest of the world.
2 Sum of the direct exposure on coal mining or coal-fired power generation projects and indirect exposure via the share of our clients' revenues involved in these activities.
3 Source: Universal Registration Document.
4 The Köppen line circumscribed the isotherm at 10° for July. It’s the area from which trees don’t grow.
5 Net-Zero" or "carbon neutrality" refers to the global goal to balance greenhouse gas emissions and absorptions.
6 Calculated by weighting our exposures on all our clients by their share of activity in oil extraction.
7 Calculated by weighting our exposures on all our clients by their share of activity in the production and storage of non-carbon energy
Press contact Crédit Agricole CIB:
Jenna Lee
Head of Communications for the Americas
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Tel: +1 212 261 7328
Leading EV charging community increases user count and participation by nearly 30% vs. last year
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Recargo, a leading e-mobility software company and wholly-owned subsidiary of EVgo Inc. (Nasdaq: EVGO), the nation’s largest public fast charging network for electric vehicles (EVs) and first powered by 100% renewable electricity, today announced that the PlugShare platform — the world’s largest EV community — has surpassed one million app downloads since the start of 2021, the most in the app’s history as EV adoption continues to increase across the globe.
The milestone arrives as EVgo and Recargo build on their shared momentum in the months following EVgo’s acquisition of Recargo in July 2021. Since then, the companies have combined their respective strengths in nationwide public fast charging infrastructure, software expertise, app development, market research, advertising and more – to shape an enhanced customer experience and capitalize on meeting EV drivers’ growing needs and support accelerated EV adoption. PlugShare’s robust user expansion is the latest example of the collective growth made possible through EVgo and Recargo’s collaboration, as the companies continue working together to bolster the EV market overall.
PlugShare is the leading platform used by EV drivers for locating and selecting public chargers. The solution allows users to share their experiences and feedback around specific locations with other drivers, better plan both short and long range EV trips, rate their charging experiences via the proprietary PlugScore feature, use Pay With PlugShare at select charging networks, and more.
“EV adoption requires more than cars—it requires great cars, reliable charging, and excellent software,” said Cathy Zoi, CEO of EVgo. “EVgo acquired Recargo because we know how important the PlugShare platform is to help new and existing EV drivers around the world charge, and this 1 millionth annual download milestone is one of many as EV growth proliferates.”
As of July 2021, there were 7 unique PlugShare app installs for every 10 EVs in operation in the U.S., reflecting the platform’s significant user penetration among America’s EV drivers. Since its inception, over 3.6 million unique Apple App Store and Google Play accounts worldwide have downloaded the app to their devices, contributing to upwards of 3.8 million reviews of public charging locations.
“The recent influx of reviews on the PlugShare platform is a testament to the growing demand for EVs and the charging infrastructure new and existing EV drivers use to go electric,” said Nick Wild, President and CEO of Recargo. “The PlugShare community continues to be the best place for accurate EV charging information, and we are excited to continue supporting drivers and infrastructure providers around the world.”
For more information and to find the location of EV chargers within the EVgo charging network, visit www.evgo.com and www.plugshare.com.
About PlugShare
Based in El Segundo CA, PlugShare maintains the most comprehensive census of EV infrastructure in the world. They make the PlugShare app for iOS, Android, and the web, the most popular EV driver app globally, PlugShare also provides sophisticated data tools, reports, custom consulting and comprehensive research on EVs for automakers, utilities, charging networks, government and the rest of the EV industry. It operates the world's largest EV driver survey research panel, PlugInsights, now with over 72,000 members.
About EVgo
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s owned and operated charging network serves over 68 metropolitan areas across 35 states and more than 310,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.
For Investors:
Ted Brooks, VP of Investor Relations
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310-954-2943
For Media:
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DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or “Company”) today announced two new Master Service Agreements (“MSA”) totaling over $225 million for gas distribution projects in California. The MSAs were secured by the Utilities Segment.
“We have long-standing relationships spanning over forty years with both major utilities,” said Tom McCormick, President and Chief Executive Officer of Primoris. “These multi-year master service agreements expand those relationships and extend our MSA portfolio into 2026.”
The first agreement, a two-year MSA, is for a gas distribution program in northern California. The second agreement, a five-year MSA, is for a gas distribution program with a major utility customer in southern California.
ABOUT PRIMORIS
Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, electrical transmission and distribution systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.primoriscorp.com.
FORWARD LOOKING STATEMENTS
This press release contains certain forward-looking statements that reflect, when made, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including the Company’s future performance. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” “would” or similar expressions. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, financing plans, competitive position, industry environment, potential growth opportunities, the effects of regulation and the economy, generally. Forward-looking statements inherently involve known and unknown risks, uncertainties, and other factors, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Actual results may differ materially as a result of a number of factors, including, among other things, the risks described in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2020, and our other filings with the U.S. Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements. Primoris does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Brook Wootton, Vice President, Investor Relations
Primoris Services Corporation
214-545-6773, This email address is being protected from spambots. You need JavaScript enabled to view it.
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