SHENZHEN, China--(BUSINESS WIRE)--#Automotive--RoboSense announced a strategic partnership with Horizon Robotics, a global pioneer in edge AI computing platforms. The two partners will mobilize their respective technological capacity and mass production experience to roll out in-depth cooperation focusing on advanced driver assistance systems (ADAS), autonomous driving, robotics, new intelligent transportation infrastructure and other applications.
Leveraging its leading smart LiDAR software and hardware technologies, RoboSense will join hands with Horizon Robotics to promote the large-scale commercialization of all segments of intelligent connected vehicle.
According to the partnership agreement, based on RoboSense’s second generation smart solid-state LiDAR RS-LiDAR-M1 (hereinafter referred to as "M1") and Horizon Robotics’ Journey 3 and Journey 5 automotive smart chips, the two companies will collaborate on the development and adaptation of integrated perception solutions for high-level autonomous driving pre-installed mass production. In the future, the partners will mobilize their respective advantageous industry resources to jointly promote the all-round standardized implementation of the domestic intelligent connected transportation industry.
Dr. Chunxin Qiu, founder and CEO of RoboSense:
" This strategic partnership will form a greater joint force and empower the two companies to create more visionary intelligent driving product solutions for the industry, to jointly build a prosperous ecology of the vehicle intelligence industry and advance the development of the intelligent connected transportation industry. "
Dr. Kai Yu, founder and CEO of Horizon Robotics:
" Through this strategic partnership, the two companies will fully complement each other with respective advantageous resources, jointly explore cutting-edge technologies and promote the mass production and large-scale implementation of pioneering intelligent driving solutions of the industry, leveraging technological innovation to build a safer and better smart mobility experience for the future. "
RoboSense is currently the only company in China to realize the automotive-grade domestic mass production of pre-installed LiDAR. Its second generation smart solid-state LiDAR, M1, has obtained pre-installed fixed-point project orders from multiple brands including GAC AION, WM Motor, ZEEKR, Lotus Cars, Inceptio and Zhito, covering models including passenger cars and commercial vehicles.
Horizon Robotics is a global leader in edge AI computing platforms based on the forward-looking concept of software and hardware integration As the only company in China to realize the automotive-grade domestic mass production of pre-installed AI chips, Horizon Robotics has reached intended partnership on priority mass production delivery with multiple car manufacturers including SAIC Motor, GWM, JAC Group, Changan Auto and BYD.
RoboSense and Horizon Robotics have a profound partnership history. The two companies announced intended partnership as early as 2019, and have been discussing and exploring innovations and integration solutions of vehicle intelligence technology, laying a solid foundation for the implementation of long-term and stable partnership achievements in the future.
Grace Ye
RoboSense PR Manager
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#EuropeanUnionApproval--SHV Energy and UGI International, a subsidiary of UGI Corporation (NYSE: UGI), distributors of off-grid energy, today received approval from the European Commission to create a joint venture to advance the production and use of renewable dimethyl ether (“rDME”).
The proposed joint venture was approved, marking an important step that will enable both parties to form the joint venture and commence operations in early 2022. As previously announced, the joint venture is intended to gain market acceptance and accelerate the use of rDME as a renewable solution for the LPG industry. The parties anticipate the development of up to 6 production plants within the next 5 years, targeting a total production capacity of 300,000 tons of rDME per year by 2027. The aggregate investment in production capacity is estimated to be up to $1 billion which is expected to involve third party investment.
About UGI International
UGI International, a subsidiary of UGI Corporation, is a leading LPG distributor and operates in 17 European countries, servicing a customer base of approximately 615,000 end-users. UGI International markets under several brands including AmeriGas, Antargaz, AvantiGas, DVEP Energie, Flaga, Kosan Gas and UniverGas. In 2021 UGI International serviced customers across broad markets, such as commercial and industrial, residential, agriculture, autogas and aerosol, retailing 1.7 million tons of LPG.
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania and West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About SHV Energy
SHV Energy is a leading global distributor of off-grid energy such as LPG and LNG and is active in the area of sustainable fuels and renewable energy solutions. SHV Energy is a wholly owned subsidiary of SHV, a family-owned multinational, and consists of a group of specialized energy companies. The company’s brands include Calor, Ipragaz, Liquigas, Pinnacle, Primagas, Primagaz and Supergasbras. With these companies, SHV Energy’s mission is to provide decentralized, low-carbon and clean energy solutions to 30 million business and residential customers who are not on the energy grid.
More information about SHV Energy is available at https://www.shvenergy.com.
UGI Investor Relations
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
SHV Energy
Janneke Leegstra
Head of Communications
+31 (0)23 555 5700
DUBLIN--(BUSINESS WIRE)--The "Refinery Catalysts Market Review 2021 and Strategic Plan for 2022 - Insights, Trends, Competition, Growth Opportunities, Market Size, Market Share Data and Analysis Outlook to 2028" report has been added to ResearchAndMarkets.com's offering.
The Refinery Catalysts Market is expected to register an attractive growth rate during the outlook period driven by technological innovations and application-specific developments. Market Players in the Refinery Catalysts Market business are aligning their operating model to the new normal by pivoting towards digitalization of operations and adapting to emerging technologies in robotic automation and artificial intelligence.
Mergers and acquisitions to acquire new technologies, strengthen portfolios, and leverage capabilities to remain key strategies of top companies in the Refinery Catalysts Market industry during the outlook period. Investing in R&D and technology to improve product lines will be the major growth driver in the short to medium term for the Refinery Catalysts Market amid prevailing tough conditions. The market study provides a comprehensive description of current trends and developments in the Refinery Catalysts Market industry along with a detailed predictive and prescriptive analysis to 2028.
COVID Impact and Post COVID Scenario Analysis
Companies that are adding capacities aggressively to cater to the short-term COVID-induced demand need to be cautious in analyzing these unprecedented demand patterns. Post pandemic transformations in social, economic, trade, and political conditions with expected reforms in environmental regulations will shape the future of the Refinery Catalysts Market industry from 2021 to 2025.
Refinery Catalysts Market has reported mixed results during the COVID 19 for different applications and geographies. The research identifies segment-wise implications of the pandemic and offers different case scenarios representing the Refinery Catalysts Market growth prospects to 2028.
Latest Trends, Drivers, Opportunities, and Challenges
Customizing products to cater to a specific application than improvising the product characteristics on a whole has been the emerging trend in the Refinery Catalysts Market. Enterprises should incorporate digitally connected processes and focus on operational efficiency, diversifying supply sources, and cost management to create opportunities in the Refinery Catalysts Market during the forecast period. Uneven recovery in different end markets and geographies is a key challenge in understanding and analyzing the Refinery Catalysts Market landscape.
Competition, Strategies and Company Profiles
While catering to the short-term needs of the market, Refinery Catalysts Market players can address this uncertainty with a clear revision of the product portfolio and a lucid long-term strategy with scenario planning. Investing in innovation, identifying emerging applications, and developing sensible business models to generate sustained growth are the winning strategies in the future Refinery Catalysts Market. The report presents detailed profiles of top companies serving the Refinery Catalysts Market value chain along with their strategies for the near, medium, and long term period.
Refinery Catalysts Market Research Scope
Key Topics Covered:
1. Table of Contents
2. Global Refinery Catalysts Market Review, 2020
2.1 Refinery Catalysts Market Industry Overview
2.2 Research Methodology
3. Refinery Catalysts Market Insights
3.1 Refinery Catalysts Market Trends to 2028
3.2 Future Opportunities in Refinery Catalysts Market
3.3 Dominant Applications of Refinery Catalysts Market to 2028
3.4 Key Types of Refinery Catalysts Market to 2028
3.5 Leading End Uses of Refinery Catalysts Market to 2028
3.6 High Prospect Countries for Refinery Catalysts Market to 2028
4. Refinery Catalysts Market Trends, Drivers, and Restraints
4.1 Latest Trends and Recent Developments in Refinery Catalysts Market
4.2 Key Factors Driving the Refinery Catalysts Market Growth
4.2 Major Challenges to the Refinery Catalysts Market industry, 2021-2028
4.3 Impact of COVID on Refinery Catalysts Market and Scenario Forecasts to 2028
5 Five Forces Analysis for Global Refinery Catalysts Market
6. Global Refinery Catalysts Market Data - Industry Size, Share, and Outlook
7. Asia Pacific Refinery Catalysts Market Industry Statistics - Market Size, Share, Competition and Outlook
8. Europe Refinery Catalysts Market Historical Trends, Outlook, and Business Prospects
9. North America Refinery Catalysts Market Trends, Outlook, and Growth Prospects
10. Latin America Refinery Catalysts Market Drivers, Challenges, and Growth Prospects
11. Middle East Africa Refinery Catalysts Market Outlook and Growth Prospects
12. Refinery Catalysts Market Structure and Competitive Landscape
13. Latest News, Deals, and Developments in Refinery Catalysts Market
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/cysq7y
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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WAUKESHA, Wis.--(BUSINESS WIRE)--INNIO Waukesha Gas Engines announced today that it has been selected to receive more than $2.2 million in funding from the U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E). The funding is part of ARPA-E’s “Reducing Emissions of Methane Every Day of the Year” (REMEDY) program that was unveiled earlier this year. The program aims to reduce emissions in the oil, gas, and coal industries and promote innovation and manufacturing of new technologies to achieve climate goals.
In support of the United States’ emissions reduction plans announced at the 2021 United Nations Climate Change Conference (COP26), ARPA-E announced 12 funding awards totaling $35 million to develop and demonstrate technologies aimed at cutting greenhouse gas emissions in the oil, gas, and coal sectors. INNIO Waukesha received funding for its proposed project that is focused on developing a new line of pistons.
“The Department of Energy investments in Marquette University and INNIO Waukesha Gas Engines will bolster Wisconsin’s cutting-edge research and technological innovation capabilities to create good paying jobs in the clean energy economy,” said U.S. Senator Tammy Baldwin. “We appreciate the Biden administration’s recognition that Wisconsin is forging our country’s path into the clean energy future and in doing so, providing practical leadership on climate solutions.”
“At INNIO, our research and development teams are intently focused on identifying, demonstrating, and delivering viable innovations that will help shape the energy transition. We believe a critical path to a cleaner energy future is providing carbon reducing enhancements for installed assets that will lead to an extended life and investment security,” said Dr. Olaf Berlien, president and CEO of INNIO. “We are pleased that ARPA-E has recognized that our carbon reduction research may yield an impactful carbon reduction approach for both new and installed engines everywhere.”
"As a global supplier of energy services, INNIO Waukesha is constantly searching for new and innovative solutions to reduce emission levels and reduce carbon footprints to support our customers and their communities,” said Bud Hittie, president of INNIO Waukesha. “We look forward to aggressively moving forward with our engine research and development to continue delivering technology for a cleaner energy future.”
INNIO Waukesha’s REMEDY funding will be spread across two stages of the program over three years. Stage 1 is planned to focus on lab-based tests confirming the operability of technical proposals, approaches, and system component. Stage 2 will expand the scale of testing, and ideally include field tests. The new technology aims to meet the REMEDY goal of 99.5% Methane destruction.
About INNIO
INNIO is a leading provider of renewable gas and hydrogen-rich solutions and services for power generation and compression at or near the point of use. With our Jenbacher and Waukesha products, INNIO helps to provide communities, industry and the public access to sustainable, reliable and economical power ranging from 200 kW to 10 MW. We also provide life-cycle support and digital solutions to the more than 53,000 delivered gas engines globally, through our service network in more than 100 countries. We deliver innovative technology driven by sustainability, decentralization, and digitalization to help lead the way to a greener future. Headquartered in Jenbach, Austria, the business also has primary operations in Welland, Ontario, Canada, and Waukesha, Wisconsin, U.S. For more information, visit the company's website at www.innio.com. Follow INNIO on Twitter and LinkedIn.
For more information:
Susanne Reichelt
INNIO
+43 664 80833 2382
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DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Processing Seals Market Review 2021 and Strategic Plan for 2022 - Insights, Trends, Competition, Growth Opportunities, Market Size, Market Share Data and Analysis Outlook to 2028" report has been added to ResearchAndMarkets.com's offering.
The Oil and Gas Processing Seals Market is expected to register an attractive growth rate during the outlook period driven by technological innovations and application-specific developments. Market Players in the Oil and Gas Processing Seals Market business are aligning their operating model to the new normal by pivoting towards digitalization of operations and adapting to emerging technologies in robotic automation and artificial intelligence.
COVID Impact and Post COVID Scenario Analysis
Companies that are adding capacities aggressively to cater to the short-term COVID-induced demand need to be cautious in analyzing these unprecedented demand patterns. Post pandemic transformations in social, economic, trade, and political conditions with expected reforms in environmental regulations will shape the future of the Oil and Gas Processing Seals Market industry from 2021 to 2025. Oil and Gas Processing Seals Market has reported mixed results during the COVID 19 for different applications and geographies. The research identifies segment-wise implications of the pandemic and offers different case scenarios representing the Oil and Gas Processing Seals Market growth prospects to 2028.
Latest Trends, Drivers, Opportunities, and Challenges
Customizing products to cater to a specific application than improvising the product characteristics on a whole has been the emerging trend in the Oil and Gas Processing Seals Market. Enterprises should incorporate digitally connected processes and focus on operational efficiency, diversifying supply sources, and cost management to create opportunities in the Oil and Gas Processing Seals Market during the forecast period. Uneven recovery in different end markets and geographies is a key challenge in understanding and analyzing the Oil and Gas Processing Seals Market landscape.
Competition, Strategies and Company Profiles
While catering to the short-term needs of the market, Oil and Gas Processing Seals Market players can address this uncertainty with a clear revision of the product portfolio and a lucid long-term strategy with scenario planning. Investing in innovation, identifying emerging applications, and developing sensible business models to generate sustained growth are the winning strategies in the future Oil and Gas Processing Seals Market. The report presents detailed profiles of top companies serving the Oil and Gas Processing Seals Market value chain along with their strategies for the near, medium, and long term period.
Oil and Gas Processing Seals Market Research Scope
Key Topics Covered:
1. Table of Contents
2. Global Oil and Gas Processing Seals Market Review, 2020
2.1 Oil and Gas Processing Seals Market Industry Overview
2.2 Research Methodology
3. Oil and Gas Processing Seals Market Insights
3.1 Oil and Gas Processing Seals Market Trends to 2028
3.2 Future Opportunities in Oil and Gas Processing Seals Market
3.3 Dominant Applications of Oil and Gas Processing Seals Market to 2028
3.4 Key Types of Oil and Gas Processing Seals Market to 2028
3.5 Leading End Uses of Oil and Gas Processing Seals Market to 2028
3.6 High Prospect Countries for Oil and Gas Processing Seals Market to 2028
4. Oil and Gas Processing Seals Market Trends, Drivers, and Restraint
5 Five Forces Analysis for Global Oil and Gas Processing Seals Market
6. Global Oil and Gas Processing Seals Market Data - Industry Size, Share, and Outlook
7. Asia Pacific Oil and Gas Processing Seals Market Industry Statistics - Market Size, Share, Competition and Outlook
8. Europe Oil and Gas Processing Seals Market Historical Trends, Outlook, and Business Prospects
9. North America Oil and Gas Processing Seals Market Trends, Outlook, and Growth Prospects
10. Latin America Oil and Gas Processing Seals Market Drivers, Challenges, and Growth Prospects
11. Middle East Africa Oil and Gas Processing Seals Market Outlook and Growth Prospects
12. Oil and Gas Processing Seals Market Structure and Competitive Landscape
13. Latest News, Deals, and Developments in Oil and Gas Processing Seals Market
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/g5hi0c
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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IRVINE, Calif.--(BUSINESS WIRE)--Enevate, a pioneering battery innovation company featuring extreme fast charge and high energy density battery technologies for electric vehicles (EVs) and other markets, met and exceeded its goals for 2021.
“I am extremely proud of the achievements of our team during this past year as we successfully executed to our roadmap,” said Enevate CEO Robert A. Rango. “We met a number of important milestones including ramping plans to significantly expand our pre-production manufacturing capability, securing additional investment, and expanding our hiring to bring in the best and brightest scientists, engineers and executives in the EV battery industry. As global auto markets pivot away from internal combustion engine vehicles to EVs, Enevate is well positioned to provide our pioneering EV battery technology to auto and battery manufacturers leading the global mobility revolution.”
Here is a recap of several of Enevate’s most significant achievements:
Surpassed Major Milestone for Li-ion Battery Patents
Enevate reached a major milestone of 100 patents issued worldwide, and now has 117 patents and more than 380 additional patents in process, bringing the company’s total issued and in process patent portfolio at the close of 2021 to nearly 500. Enevate has more patent families directed to silicon battery technologies than all our competitors combined.
Secured $81M Series E funding Led by Fidelity Management & Research Company, Bringing Total Investment to Nearly $200 Million
That latest round, which included existing investors Mission Ventures and Infinite Potential Technologies, has enabled Enevate to begin ramping for a significant expansion of its pre-production line designed to guide EV and other battery customers toward implementing larger-scale battery manufacturing utilizing Enevate’s silicon anode-based batteries, and the hiring of additional personnel with an emphasis on scientists and engineers.
Signed Production License Agreement with South Korea’s EnerTech International
This production agreement represented a major milestone in Enevate’s technology roadmap with commercialization of Enevate’s silicon-dominant XFC-Energy® battery technology in the transportation, mobility and reserve power markets scheduled for 2022. EnerTech International is a leader in delivering lithium-ion cells and uses state-of-the-art manufacturing facilities to produce large format batteries in high demand by rapidly growing markets.
A Cleaner, More Environmentally Friendly Battery Technology
Enevate received third-party verification that its XFC-Energy battery technology may allow for up to 26 percent reduction of carbon dioxide (CO2) emissions for manufacturing of EV batteries compared to conventional lithium-ion EV batteries (21 percent for NCA and 26 percent for NMC cells [kg CO2 eq. cradle-to-gate, per 1 KWh cell capacity]).1 These results point to the potential to lower an EV’s carbon footprint at the start of life, which is significant because battery manufacturing is the highest contributor of CO2 emissions for the manufacturing of an EV.
Full Speed Ahead in 2022
Enevate’s patented XFC-Energy technology stands to be a game changer for the EV industry, providing a path to produce extreme fast-charge EV batteries at low cost and high-volume production. Enevate is currently working with multiple electric vehicle and battery manufacturers to commercialize its technology as early as 2022 in e-motorcycles and for the 2024-2025 automotive model years, utilizing existing manufacturing infrastructure with minimal investment required, a core goal of its development.
Enevate's technology transfer and intellectual property licensing business model is ideal for any company that operates or plans to operate battery manufacturing facilities. Enevate provides EV battery manufacturers with the ability to use existing manufacturing infrastructure with minimal additional investment, enabling an entirely new generation of EVs that will eliminate the customer pain points with EV ownership.
ABOUT ENEVATE (www.enevate.com)
Enevate develops and licenses advanced battery technology for electric vehicles (EVs), with a vision of EVs charging as fast as refueling gas cars, accessible and affordable to everyone, and accelerating EVs' mass adoption. With a portfolio of nearly 500 patents issued and in process, Enevate's pioneering advancements (leveraging accelerated battery testing and machine learning) in silicon-dominant anodes and cells have resulted in battery technology that features five-minute extreme fast charging with high energy density, low-temperature operation for cold climates, low cost and safety advantages over conventional batteries.
Enevate's vision is to develop and propagate EV battery technology that contributes to a clean and sustainable environment. The Irvine, California-based company's investors include Renault-Nissan-Mitsubishi (Alliance Ventures), LG Chem, Samsung Venture Investment Corp, Fidelity Management & Research Company, Mission Ventures, Draper Fisher Jurvetson, Tsing Capital, Infinite Potential Technologies, Presidio Ventures – a Sumitomo Corporation company, Lenovo, CEC Capital, and Bangchak. Enevate®, the Enevate logo, HD-Energy®, XFC-Energy® and eBoost® are registered trademarks of Enevate Corporation.
1 Enevate CO2 emissions information in accordance with international standards ISO 14044:2006, section 6.1 critical review. Further information available from Enevate Corp., 101 Theory # 200, Irvine, CA 92617.
Bill Blanning
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 (714) 916-4309
First U.S. bank holding company with under $150 billion in consolidated total assets – and eighth overall – to issue a bond with proceeds dedicated to financing the clean energy transition
CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright Inc., recently rebranded from Congressional Bancshares, Inc., or Forbright, announced today the completion of the private placement of its inaugural Green Bond, offering $125 million in fixed-to-floating rate subordinated notes due January 1, 2031. The bond was issued by the bank holding company, and the proceeds will be injected into the bank as capital and used to finance or refinance projects aimed at driving decarbonization and accelerating the shift to a more sustainable economy.
Forbright is the first U.S. bank holding company with under $150 billion in consolidated total assets, and only the eighth financial institution overall, to issue a Green Bond. This is a significant step toward achieving Forbright’s commitment to be the first full-service U.S. bank mission-aligned around sustainability and decarbonization.
“We launched Forbright to empower our customers, partners, and stakeholders to contribute directly to a more sustainable future and seize the tremendous investment opportunities presented by decarbonizing the economy. Our first Green Bond is one way we are delivering on that promise,” said founder and Executive Chairman John Delaney.
Forbright’s Green Financing Framework will guide the selection and management of projects funded by net proceeds from the Green Bond offering. Sustainalytics, an experienced global leader in high-quality environmental, social, and governance (ESG) research, ratings, and data, has independently verified that Forbright’s Green Financing Framework “is credible and impactful and aligns to the four core components” of the International Capital Market Association’s (ICMA) Green Bond Principles 2021 (GBP). Financed projects will focus on the Eligible Project Categories of Renewable Energy and Energy Efficiency, seeking to reduce greenhouse gas emissions and the consumption of fossil fuels, in furtherance of United Nations Sustainable Development Goal 7 (Affordable and Clean Energy).
In September, Forbright became just the seventh U.S. bank to sign onto the UN Principles for Responsible Banking, the preeminent global framework for a sustainable banking industry. To maintain transparency as net proceeds from the Green Bond offering are allocated, Forbright intends to publish on at least an annual basis a report describing the amount of net proceeds allocated by Eligible Project Category, descriptions of specific projects financed, achieved or expected impact metrics, as feasible, and unallocated balances.
“We are proud to provide investors an avenue to align with a values-driven organization committed to a brighter, greener future while meeting their investment objectives, and also to offer borrowers the capital they need to finance their clean energy initiatives,” added Forbright Bank Chief Executive Officer Don Cole. “This offering fully reflects our belief that banking with a sustainability focus is good for our customers, our investors, our business, and society.”
For the Green Bond private placement offering, Keefe, Bruyette & Woods, A Stifel Company; and PNC FIG Advisory, part of PNC Capital Markets LLC, served as Placement Agents. PNC Capital Markets LLC served as the ESG Structuring Agent. Holland & Knight LLP served as legal counsel to Forbright, and Squire Patton Boggs (US) LLP served as counsel to the placement agents.
This press release is for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy, the Green Bond, nor shall there be any offer, solicitation, or sale in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Green Bond has not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The indebtedness evidenced by the Green Bond is not a deposit and is not insured by the FDIC or any other government agency or fund.
About Forbright
Forbright Inc., rebranded from Congressional Bancshares, Inc., is the bank holding company for Forbright Bank. Forbright Bank (www.forbrightbank.com), rebranded from Congressional Bank, Member FDIC, is a full-service bank, commercial lender, and asset manager headquartered in Chevy Chase, Maryland, that is committed to accelerating the transition to a sustainable, clean energy economy by financing the companies, investors, and innovators driving that change. With approximately $6 billion of owned and managed assets, the Bank provides lending, banking, and asset management services to clients across the United States. Its business banking group provides nationwide lending products, including real estate loans, working capital, warehouse lines of credit, term loans, and forward loan purchase agreements to entrepreneurs, growing middle market companies, and sophisticated investors and operators in clean tech, healthcare, financial services, technology, real estate, renewable energy, and other industries where a trusted and highly responsive lender is needed. The Bank provides sophisticated and competitive deposit products, which will soon include deposits linked to decarbonization- and sustainability-oriented loans, to businesses and individuals.
Member FDIC as Congressional Bank. Congressional Bank is an equal housing lender and makes loans without regard to race, color, religion, national origin, sex, handicap, or familial status.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. Any statements about our management’s expectations, beliefs, plans, predictions, forecasts, objectives, assumptions, or future events or performance are not historical facts and may be forward-looking. Words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends,” and similar words or phrases are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. The inclusion of or reference to forward-looking information in this press release should not be regarded as a representation by us or any other person that the future plans, estimates, or expectations contemplated by us will be achieved. We have based these forward-looking statements on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Our actual results could differ materially from those anticipated in such forward-looking statements as a result of risks, uncertainties, and assumptions that are difficult to predict, including the difficult market conditions and unfavorable economic conditions and uncertainties associated with the COVID-19 pandemic, including the emergence of variant strains of the virus, particularly in the markets in which we operate and in which our loans are concentrated, including declines in housing markets, an increase in unemployment levels, and slowdowns in economic growth; our expected future financial results; the overall health of the local and national real estate market; the credit risk associated with our loan portfolio, such as possible additional loan losses and impairment of collectability of loans as a result of the COVID-19 pandemic and policies and programs implemented by the Coronavirus Aid, Relief, and Economic Security Act, including its automatic loan forbearance provisions and the effects on our loan portfolio from our Paycheck Protection Program lending activities, specifically with our commercial real estate loans.
If one or more events related to these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may differ materially from what we anticipate. Furthermore, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by, the COVID-19 pandemic, including the emergence of variant strains of the virus, the pace at which the COVID-19 vaccine can be distributed and administered to residents of the markets we serve and the United States generally, and the impact of varying governmental responses that affect our customers and the economies where they operate. You are cautioned not to place undue reliance on forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by law.
Aaron Juda, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Solid Oxide Fuel Cell Market Size, Share & Trends Analysis Report By Application (Stationary, Portable, Transportation), By Region (Europe, North America, Asia Pacific), And Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global solid oxide fuel cell market size is expected to reach USD 4.0 billion by 2028. The market is expected to expand at a CAGR of 42.2% from 2021 to 2028.
Growing expenditure in infrastructure and industry development is anticipated to have a positive impact on the global solid oxide fuel cell (SOFC) market over the projected period. Installers and system providers usually hold stock of significant equipment in the inventory.
However, manufacturers face bottlenecks and shortages due to limited production in countries severely affected by the COVID-19 pandemic. Furthermore, upcoming SOFC-based large-scale projects are expected to witness delays in commissioning due to disruptions in the supply chain and halting of on-site construction activities.
The rising awareness about alternative sources of energy is one of the major factors encouraging market growth. Increasing carbon emission levels is a global issue, and government authorities worldwide are supporting technological advancements to tackle the issue by providing research funding and drafting supportive policies and plans.
The global SOFC market is highly competitive owing to the ongoing technological advancements developed by the existing vendors and new entrants. Market players are concentrating on strengthening their relations with system installers due to their strong local presence and close ties with clients, which, in turn, is likely to help enhance geographical presence.
Solid Oxide Fuel Cell Market Report Highlights
Key Topics Covered:
Solid Oxide Fuel Cell Market Variables, Trends & Scope
Solid Oxide Fuel Cell Market: Application Estimates & Trend Analysis
Solid Oxide Fuel Cell Market: Regional Estimates & Trend Analysis
Competitive Analysis
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/xfmkm5
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia PPR Pipes Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
According to this report the Saudi Arabia PPR pipes market reached a volume of 22,500 Tons in 2020. Looking forward, the market is expected to exhibit stable growth during 2021-2026.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
PPR pipes are thermoplastic pipes which are manufactured from polypropylene random copolymer. They are ideal for drain, waste, ventilation and sewage applications. Due to their fusion welding and corrosion resistant properties, these pipes are extensively used in high pressure cold and hot water plumbing, and potable water supply systems. The demand for PPR pipes in Saudi Arabia is escalating as they are cost effective, environment friendly and offer numerous advantages over other piping systems.
The Saudi Arabia PPR market is growing on account of several growth-inducing factors. PPR pipes have high mechanical strength, easy workability, resistance to stray electrical currents and low density, owing to which these pipes are used in irrigation, plumbing and water distribution systems. Further, they offer high resistance against reactive chemicals, thereby being ideal for use in research facilities and chemical industries. Apart from this, Saudi Arabia provides various opportunities to PPR pipe manufacturers as it is the largest producer and exporter of polymers and chemicals globally.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Saudi Arabia PPR Pipes Market
5.1 Market Overview
5.2 Market Performance
5.2.1 Volume Trends
5.2.2 Value Trends
5.3 Impact of COVID-19
5.4 Price Analysis
5.4.1 Key Price Indicators
5.4.2 Price Structure
5.4.3 Price Trends
5.4.4 Industry Best Practices
5.5 Market Breakup by Type
5.6 Market Breakup by Application
5.7 Market Forecast
5.8 SWOT Analysis
5.9 Value Chain Analysis
5.10 Porter's Five Forces Analysis
6 Market Breakup by Type
6.1 High Pressure Pipes
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Low Pressure Pipes
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Application
7.1 Plumbing
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Chemical Industries and Labs
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Competitive Landscape
8.1 Market Structure
8.2 Key Players
9 PPR Pipes Manufacturing Process
9.1 Product Overview
9.2 Detailed Process Flow
9.3 Various Types of Unit Operations Involved
9.4 Key Success and Risks Factors for Manufacturers
10 Requirements for Setting Up a PPR Pipes Manufacturing Plant
11 Profiles of Key Players
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Laura Wood, Senior Press Manager
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NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced today that Lorraine Paskett, vice president of AES Corporation, has been appointed to the Board of Directors effective immediately.
“Lorraine is an esteemed industry leader with more than 25 years of experience in the energy and environmental sectors,” said Clean Energy Board of Directors Chairman Stephen Scully. “With her background in climate change reform and the renewable energy market, I’m confident that she will bring a great perspective to our board, and we’re proud to have her join us.”
Ms. Paskett oversees all external matters in California for AES US Business which includes supporting a transition from fossil fuel to renewable and zero carbon energy, new opportunities for energy storage, renewable energy development, and advanced fuels and emerging technologies in the electric and gas markets.
Previously, she founded and served as principal of Cambridge LCF Group, which provided strategic advice for companies in the gas and electric sectors, with a focus on advanced fuels and climate. In her role there, she was involved in many conventional gas, advanced fuels, climate change, and LCFS initiatives.
Ms. Paskett also served as a senior executive for the Los Angeles Department of Water and Power, leading water resource policy and providing a comprehensive approach for sustainable utility practices, including consumer water conservation and water reuse projects.
“Clean Energy has staked out a leadership position in providing customers with ways to immediately and significantly reduce their carbon emissions and address climate change through their operations,” said Ms. Paskett. “I’m excited to work with fellow board members as the company continues to expand the use of renewable fuels and contribute to the company’s future growth and success.”
Ms. Paskett holds a bachelor’s degree in Political Science from the California State University at Sacramento and went on to graduate from McGeorge School of Law in 1995. She has been a member of the California State Bar since 1995.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
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Investor Contact:
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DUBLIN--(BUSINESS WIRE)--The "Industrial Boilers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Industrial Boilers estimated at 859.8 Thousand Tons of Steam Per Hour (TSPH) in the year 2020, is projected to reach a revised size of 1.2 Million Tons of Steam Per Hour (TSPH) by 2027, growing at a CAGR of 4.7% over the analysis period 2020-2027.
Chemical, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach 242 Thousand Tons of Steam Per Hour (TSPH) by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Food & Beverage segment is readjusted to a revised 5.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at 253.3 Thousand Tons of Steam Per Hour (TSPH), While China is Forecast to Grow at 4.5% CAGR
The Industrial Boilers market in the U.S. is estimated at 253.3 Thousand Tons of Steam Per Hour (TSPH) in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 210.7 Thousand Tons of Steam Per Hour (TSPH) by the year 2027 trailing a CAGR of 4.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR.
Oil & Gas Segment to Record 5.5% CAGR
In the global Oil & Gas segment, USA, Canada, Japan, China and Europe will drive the 5.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 72.9 Thousand Tons of Steam Per Hour (TSPH) in the year 2020 will reach a projected size of 106.9 Thousand Tons of Steam Per Hour (TSPH) by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 132.8 Thousand Tons of Steam Per Hour (TSPH) by the year 2027.
Select Competitors (Total 130 Featured):
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
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Laura Wood, Senior Press Manager
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RENFREW, Scotland--(BUSINESS WIRE)--Howden, a leading global provider of mission critical air and gas handling products, technologies and services, has completed its acquisition of Compressor Products International (“CPI”), a leading provider of aftermarket components and services to the global reciprocating compressor market.
Headquartered in Houston, Texas, USA, CPI manufactures precision-engineered, custom aftermarket products which are vital to the longevity, efficiency and safety of reciprocating compressors.
This marks Howden’s sixth acquisition of 2021 and is well aligned with Howden’s strategy of expanding its global aftermarket presence in the compressor market. By leveraging CPI’s strategically located service centres, Howden will expand its aftermarket services and coverage across North America and Europe. CPI’s valves and aftermarket products are complementary and strategically important additions to Howden’s existing aftermarket compressor technology portfolio. As a result of this acquisition, Howden’s addressable markets will increase by $1 billion.
As part of Howden, CPI will be able to access growth opportunities through additional technology support from Howden and by leveraging Howden’s existing global distribution and services network in China, Asia Pacific and South Africa. With CPI’s predominantly aftermarket revenues, this acquisition will be accretive to both Howden’s aftermarket mix and overall margins.
This acquisition also reinforces Howden’s role in supporting the ongoing energy transition towards renewable sources of energy. Howden will leverage CPI’s reciprocating compressor technology to support customers through their energy transition.
Ross B. Shuster, CEO of Howden, commented: “Reciprocating compression technology is critical to the energy transition, with applications in hydrogen production and infrastructure, as well as biofuel production. CPI’s technology, expertise and aftermarket presence will allow us to serve customers looking to improve the performance and extend the life of their vital compressor assets across a wide range of industries. The acquisition of CPI will bring benefits to customers of both Howden and CPI. We’re proud to welcome the CPI team and the CPI brand into Howden.”
ENDS
About Howden
Howden is a leading global provider of mission critical air and gas handling products. We enable our customers’ vital processes which advance a more sustainable world. Based in Renfrew, Scotland, Howden has over 160 years of heritage as a world-class application engineering and manufacturing company with a presence in 35 countries.
For more information
Catherine Damen
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BLACKWOOD, N.J.--(BUSINESS WIRE)--Vision Solar provided less fortunate families across the nation the experience of holiday joy by partnering with the non-profit organization Toy for Tots and sponsoring homeless shelters across the country.
Toy for Tots is a well-recognized non-profit that annually sends a message of hope to America's less fortunate children through the gift of an unwrapped toy. Vision Solar headquarters feels honored to have partnered with this organization. Employees participated in a collection drive, and over 300 employees who attended their annual Holiday Gala event brought an unwrapped toy to donate to Toy for Tots. As a result, hundreds of toys were picked up from Vision Solar by the Toy for Tots team based in New Jersey. This donation will help the non-profit meet its goal of providing children with the gift of holiday spirit.
The support and effort did not stop there. Vision Solars founders Jonathan Seibert and Michael Eden went further by sponsoring families in homeless shelters nationwide. Through their sponsorship, 16 individual families' holiday wishes came true by Vision Solar, who purchased everything on their wish lists. The objective was to provide hope and keep the holiday spirit alive for these families.
"We are forever affecting the world and the lives of our neighbors together, while living out our social responsibility as a company," said Jonathan Seibert, CEO, when asked about Vision Solar's philanthropy involvement.
For any inquiries regarding this press release, please feel free to contact John Czelusniak at This email address is being protected from spambots. You need JavaScript enabled to view it. or Juliana Echavarria This email address is being protected from spambots. You need JavaScript enabled to view it.
About Vision Solar:
Vision Solar is one of the fastest growing solar energy companies in the United States. Their full-service renewable energy company installs solar services for residential homes nationwide. Over the past three years, Vision Solar has grossed over $100 million in revenue, with significant increase in projected growth to produce 1000+ high-quality Green Jobs by 2022. To learn more, visit: https://www.visionsolar.com
Juliana Echavarria
Vision Solar LLC
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HOUSTON--(BUSINESS WIRE)--$CRGY--Crescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY) today announced the publication of its inaugural Environmental, Social and Governance (“ESG”) Report. The report provides an initial baseline to measure the Company’s performance and establishes Crescent’s immediate ESG priorities.
Highlights of the Inaugural 2020 ESG Report
David Rockecharlie, CEO, commented: “The release of our inaugural ESG report marks an important milestone for Crescent Energy as a newly formed company. It allows us to set a vision for what we are aiming to achieve, while establishing a common starting point and baseline from our legacy companies, Independence Energy and Contango Oil and Gas Company. It also reflects our commitment to transparency by outlining the priorities we have for the new company going forward.”
He continued, “We consider ourselves as stewards of others’ assets: our investors’ capital, the environment and the communities in which we operate. Our success hinges on our ability to align with our stakeholders, including our employees, investors, customers, suppliers and society at large. As we build the company, we see an opportunity to continuously improve ESG performance – creating a net-benefit for society and the environment, as well as driving returns for our investors.”
For more information, including 2020 SASB-aligned performance metrics, please find the Company's 2020 ESG Report at www.crescentenergyco.com.
ESG Advisory Council
Crescent aims to build a company where ESG is integrated into governance, strategy and decision making. In order to continuously improve and to pursue a leadership position in terms of ESG performance, the Company believes it is important to seek outside expertise and advice. As part of this approach, Crescent established an ESG Advisory Council (“the Council”) to advise management and Crescent’s board of directors on ESG-related issues. The Council is intended as a forum for candid, internal advice to Crescent Energy. Further information on the Council and its members is included in the report.
Leveraging KKR Relationship to Build Leading ESG Program
With over 45 years of leadership, innovation and investment excellence, KKR, a leading global investment firm, provides management and executive leadership to Crescent. Crescent is focused on developing industry leading ESG programs with the support of KKR’s experience helping portfolio companies to develop and implement ESG best practices. Leveraging the network of the broader KKR platform, Crescent Energy is partnering with thought leaders to establish thorough ESG-related benchmarks and key performance indicators in order to track, measure and report ESG performance to the company’s stakeholders.
More information on KKR’s sustainable investing efforts can be found at www.kkresg.com.
About Crescent Energy
Crescent Energy is a diversified, well capitalized, U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states. Our core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy we have employed since 2011. The Company’s mission is to invest in energy assets and deliver better returns, operations and stewardship.
For additional information, please visit www.crescentenergyco.com.
Cautionary Statement Regarding Forward-Looking Information
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases “should”, “could”, “may”, “will”, “believe”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “goal” and similar expressions identify forward-looking statements and express our expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the timing and success of business development efforts, and other uncertainties. Consequently, actual future results could differ materially from our expectations. We assume no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
Emily Newport, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Energy Storage Systems, 2021 Update - Thematic Research" report has been added to ResearchAndMarkets.com's offering.
Global energy storage capacity totaled 184.4 GW in 2020, an increase of 4.3% compared to the previous year. Pumped hydro energy storage (PHS) comprised the largest portion of global capacity at 162.6 GW. Electrochemical energy storage followed with a total capacity of 15.8 GW.
Within the electrochemical category, lithium-ion batteries accounted for 13.1 GW in 2020, or nearly 83% of the category total. Battery storage surpassed 10 GW for the first time. The potential applications of ESS have piqued the interest of a variety of stakeholders across the value chain, boosting its growth and paving the way for the next stage of the energy transition. ESS installations linked to the electricity grid and ancillary services will grow in the coming years, driven by rising energy demand, asset retirements, and increased integration of renewables.
Scope
Reasons to Buy
Key Topics Covered:
Companies Mentioned
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GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar, the pure play, premium electric car company, has released the Vivaldi web browser for Polestar 2. Answering one of the top desires from Polestar owners, the inclusion of a full-scale web browser in the car allows users to browse the web as they might on their mobile devices. It is the first browser available for Android Automotive OS.
“It’s great that we could answer our owner community’s desire for a browser with Vivaldi as a Christmas present,” comments Thomas Ingenlath, Polestar CEO. “Now there is a whole new world of web content you can explore in Polestar 2 – even some of your favorite streaming platforms.”
Developed for Polestar 2 by the Vivaldi team in Norway, the app brings extensive browser functionality to the 11-inch center display with Android Automotive OS in the car, and functions similarly to how it would on a mobile device* – with tabbed browsing, streaming ability, online shopping and top security measures. Vivaldi browser is built around flexibility and features a built-in ad blocker, privacy-friendly translation tool, notes function, tracking protection and encrypted sync functionality.
Jon Stephenson von Tetzchner, CEO at Vivaldi, adds: “We are really proud to introduce our browser to a car for the first time, and specifically with a brand like Polestar. Our technological and sustainability ambitions are well aligned. We value transparency, privacy and responsible innovation – including the fact that we have our servers in Iceland, one of Polestar’s newest markets. Like Polestar, we are a challenger brand, and we take a Scandinavian approach to design, that is based on trust and listening to our users.”
The Vivaldi browser for Polestar 2 is now available in all European, North American and certain Asia Pacific markets**.
Following the recent performance software upgrade released for Polestar 2 in late November, Polestar’s technological abilities are now highlighted from an infotainment perspective as well.
It also continues to strengthen Polestar’s position ahead of its proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW and GGPIU), which is expected to close in the first half of 2022.
Notes to editors:
- *Some restrictions may apply, for example, files cannot be downloaded and the browser can only be used when parked.
- To ensure safety, streaming content will continue with audio only, if driving commences.
- **Not for China or South Korea.
- Integrated voice control is being explored for a future release.
- Private browsing data is not stored by the car.
- When logged into a Vivaldi account, browsing data may be shared between other devices logged into the same account. This data is not shared with Polestar.
About Polestar
Polestar was established as a new, standalone Swedish premium electric vehicle manufacturer in 2017. Founded by Volvo Cars and Geely Holding, Polestar enjoys specific technological and engineering synergies with Volvo Cars and benefits from significant economies of scale as a result.
Polestar is headquartered in Gothenburg, Sweden, and its vehicles are currently available and on the road in markets across Europe, North America, China and Asia Pacific. By 2023, the company plans to be present in 30 global markets. Polestar cars are currently manufactured in two facilities in China, with additional future manufacturing planned in the USA.
In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.
Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, 609 hp, 1,000 Nm and an electric-only range of 124 km (WLTP) – the longest of any hybrid car in the world.
The Polestar 2 electric performance fastback is the company’s first fully electric, high volume car. The Polestar 2 model range includes three variants with a combination of long- and standard range batteries as large as 78 kWh, and dual- and single-motor powertrains with as much as 300 kW / 408 hp and 660 Nm.
In the coming three years, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 in 2022 – the company’s first electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.
In 2024, the Polestar 5 electric performance 4-door GT is planned to be launched as the production evolution of Polestar Precept – the manifesto concept car that Polestar released in 2020 that showcases the brand’s future vision in terms of design, technology, and sustainability. As the company seeks to reduce its climate impact with every new model, Polestar aims to produce a truly climate-neutral car by 2030.
About Vivaldi
Vivaldi Technologies is an employee-owned company that creates products and services for discerning web users. In everything it does, Vivaldi believes in putting its users first.
Vivaldi's core mission is to build the most feature-packed, customizable browser, and they have two ground rules: privacy is a default, and everything's an option. In practice, this means building software that protects users' privacy, but also does not track how they use it. Vivaldi believes private and secure software should be the rule, not the exception.
Vivaldi is headquartered in Oslo, with offices in Reykjavik, Boston and Palo Alto. Learn more about their mission at vivaldi.com.
About Gores Guggenheim, Inc.
Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU) is a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC, founded by Alec Gores, and by an affiliate of Guggenheim Capital, LLC. Gores Guggenheim completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Gores Guggenheim's strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores' and Guggenheim’s long history and track record of investing in and operating businesses.
Forward-Looking Statements
Certain statements in this press release (“Press Release”) may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Gores Guggenheim, Inc. (“Gores Guggenheim”), Polestar Performance AB and/or its affiliates (the “Company”) and Polestar Automotive Holding UK Limited (“ListCo”). For example, projections of future Adjusted EBITDA or revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology. 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.
These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Gores Guggenheim and its management, and the Company and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of definitive agreements with respect to the Business Combination; (2) the outcome of any legal proceedings that may be instituted against Gores Guggenheim, the combined company or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the stockholders of Gores Guggenheim, to obtain financing to complete the Business Combination or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (5) the ability to meet stock exchange listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of the Company as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) risks associated with changes in applicable laws or regulations and the Company’s international operations; (10) the possibility that the Company or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the Company’s estimates of expenses and profitability; (12) the Company’s ability to maintain agreements or partnerships with its strategic partners Volvo Cars and Geely and to develop new agreements or partnerships; (13) the Company’s ability to maintain relationships with its existing suppliers and strategic partners, and source new suppliers for its critical components, and to complete building out its supply chain, while effectively managing the risks due to such relationships; (14) the Company’s reliance on its partnerships with vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (15) the Company’s ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from lithium-ion battery cells catching fire or venting smoke; (16) delays in the design, manufacture, launch and financing of the Company’s vehicles and the Company’s reliance on a limited number of vehicle models to generate revenues; (17) the Company’s ability to continuously and rapidly innovate, develop and market new products; (18) risks related to future market adoption of the Company’s offerings; (19) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (20) the Company’s reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to the Company by its partners in order for the Company to be able to increase its vehicle production capacities; (21) risks related to the Company’s distribution model; (22) the effects of competition and the high barriers to entry in the automotive industry, and the pace and depth of electric vehicle adoption generally on the Company’s future business; (23) changes in regulatory requirements, governmental incentives and fuel and energy prices; (24) the impact of the global COVID-19 pandemic on Gores Guggenheim, the Company, the Company’s post business combination’s projected results of operations, financial performance or other financial metrics, or on any of the foregoing risks; and (25) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Gores Guggenheim’s final prospectus relating to its initial public offering (File No. 333-253338) declared effective by the SEC on March 22, 2021, and other documents filed, or to be filed, with the SEC by Gores Guggenheim or ListCo, including the Registration/Proxy Statement. There may be additional risks that neither Gores Guggenheim, the Company nor ListCo presently know or that Gores Guggenheim, the Company or ListCo currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.
Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither Gores Guggenheim, the Company nor ListCo undertakes any duty to update these forward-looking statements.
Additional Information
In connection with the proposed Business Combination, (i) ListCo has filed with the SEC a Registration/Proxy Statement, and (ii) Gores Guggenheim will file a definitive proxy statement relating to the proposed Business Combination (the “Definitive Proxy Statement”) and will mail the Definitive Proxy Statement and other relevant materials to its stockholders after the Registration/Proxy Statement is declared effective. The Registration/Proxy Statement will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of Gores Guggenheim stockholders to be held to approve the proposed Business Combination. 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. Before making any voting or other investment decisions, securityholders of Gores Guggenheim and other interested persons are advised to read, the Registration/Proxy Statement and the amendments thereto and the Definitive Proxy Statement and other documents filed in connection with the proposed Business Combination, as these materials will contain important information about Gores Guggenheim, the Company, ListCo and the Business Combination. When available, the Definitive Proxy Statement and other relevant materials for the proposed Business Combination will be mailed to stockholders of Gores Guggenheim as of a record date to be established for voting on the proposed Business Combination. Stockholders will also be able to obtain copies of the Registration/Proxy Statement, the Definitive Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in the Solicitation
Gores Guggenheim and certain of its directors and executive officers may be deemed participants in the solicitation of proxies from Gores Guggenheim’s stockholders with respect to the proposed Business Combination. A list of the names of those directors and executive officers and a description of their interests in Gores Guggenheim is set forth in Gores Guggenheim’s filings with the SEC (including Gores Guggenheim’s final prospectus related to its initial public offering (File No. 333-253338) declared effective by the SEC on March 22, 2021), and are available free of charge at the SEC’s website at www.sec.gov, or by directing a request to Gores Guggenheim, Inc., 6260 Lookout Rd., Boulder, CO 80301, attention: Jennifer Kwon Chou. Additional information regarding the interests of such participants is contained in the Registration/Proxy Statement.
The Company and ListCo, and certain of their directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Gores Guggenheim in connection with the proposed Business Combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed Business Combination is included in the Registration/Proxy Statement.
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This Press Release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Gores Guggenheim, the Company or ListCo, 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 the Securities Act of 1933, as amended.
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DUBLIN--(BUSINESS WIRE)--The "Oil Water Separator Market Review 2021 and Strategic Plan for 2022 - Insights, Trends, Competition, Growth Opportunities, Market Size, Market Share Data and Analysis Outlook to 2028" report has been added to ResearchAndMarkets.com's offering.
The Oil Water Separator Market is expected to register an attractive growth rate during the outlook period driven by technological innovations and application-specific developments. Market Players in the Oil Water Separator Market business are aligning their operating model to the new normal by pivoting towards digitalization of operations and adapting to emerging technologies in robotic automation and artificial intelligence.
Mergers and acquisitions to acquire new technologies, strengthen portfolios, and leverage capabilities to remain key strategies of top companies in the Oil Water Separator Market industry during the outlook period. Investing in R&D and technology to improve product lines will be the major growth driver in the short to medium term for the Oil Water Separator Market amid prevailing tough conditions. The market study provides a comprehensive description of current trends and developments in the Oil Water Separator Market industry along with a detailed predictive and prescriptive analysis to 2028.
Oil Water Separator Market Dynamics - COVID Impact and Post COVID Scenario Analysis
Companies that are adding capacities aggressively to cater to the short-term COVID-induced demand need to be cautious in analyzing these unprecedented demand patterns. Post pandemic transformations in social, economic, trade, and political conditions with expected reforms in environmental regulations will shape the future of the Oil Water Separator Market industry from 2021 to 2025. Oil Water Separator Market has reported mixed results during the COVID 19 for different applications and geographies. The research identifies segment-wise implications of the pandemic and offers different case scenarios representing the Oil Water Separator Market growth prospects to 2028.
Competition, Strategies and Company Profiles
While catering to the short-term needs of the market, Oil Water Separator Market players can address this uncertainty with a clear revision of the product portfolio and a lucid long-term strategy with scenario planning. Investing in innovation, identifying emerging applications, and developing sensible business models to generate sustained growth are the winning strategies in the future Oil Water Separator Market. The report presents detailed profiles of top companies serving the Oil Water Separator Market value chain along with their strategies for the near, medium, and long term period.
Oil Water Separator Market Research Scope
Key Topics Covered:
1. Table of Contents
2. Global Oil Water Separator Market Review, 2020
3. Oil Water Separator Market Insights
3.1 Oil Water Separator Market Trends to 2028
3.2 Future Opportunities in Oil Water Separator Market
3.3 Dominant Applications of Oil Water Separator Market to 2028
3.4 Key Types of Oil Water Separator Market to 2028
3.5 Leading End Uses of Oil Water Separator Market to 2028
3.6 High Prospect Countries for Oil Water Separator Market to 2028
4. Oil Water Separator Market Trends, Drivers, and Restraints
4.1 Latest Trends and Recent Developments in Oil Water Separator Market
4.2 Key Factors Driving the Oil Water Separator Market Growth
4.2 Major Challenges to the Oil Water Separator Market industry, 2021-2028
4.3 Impact of COVID on Oil Water Separator Market and Scenario Forecasts to 2028
5 Five Forces Analysis for Global Oil Water Separator Market
6. Global Oil Water Separator Market Data - Industry Size, Share, and Outlook
7. Asia Pacific Oil Water Separator Market Industry Statistics - Market Size, Share, Competition and Outlook
8. Europe Oil Water Separator Market Historical Trends, Outlook, and Business Prospects
9. North America Oil Water Separator Market Trends, Outlook, and Growth Prospects
10. Latin America Oil Water Separator Market Drivers, Challenges, and Growth Prospects
11. Middle East Africa Oil Water Separator Market Outlook and Growth Prospects
12. Oil Water Separator Market Structure and Competitive Landscape
13. Latest News, Deals, and Developments in Oil Water Separator Market
14. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/d67llj
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» Nouveau Monde’s phase-1 operations produced 99.99%-pure battery-grade SPG; construction of coating unit being prepared for a fully integrated 2-ktpa value chain in first half 2022.
» Critical milestones achieved this year for phase-2 Matawinie Mine: Québec governmental decree approving the project, construction of 8-km access road and start of civil works on industrial platform, 55% overall advancement of engineering, agreement with Caterpillar for all-electric zero-emission fleet.
» Significant progress on the development of phase-2 Bécancour battery material plant: delivery of FEL-1 Scoping study, advancement of environmental baseline and geotechnical studies, work underway for a FEL-3 Feasibility study.
» Major corporate milestones achieved: listing on the main board of the NYSE, over 130M$ financing raised, publication of Nouveau Monde’s inaugural ESG report, addition of expertise at the Board and management level.
» Nouveau Monde’s ESG-focused business model offers a local, responsibly sourced, environmentally transformed, traceable, carbon-neutral, and circular graphite supply alternative to existing Chinese production.
» Sustained growth in the EV and energy storage markets continues to increase graphite demand, providing a solid foundation for the Company’s expansion.
MONTRÉAL--(BUSINESS WIRE)--$NMG #ESG--In a year that saw accelerated commitments to Net Zero targets and global electrification, Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV: NOU) advanced the development of its fully vertically integrated ore-to-battery-material natural graphite business delivering positive results toward its 2021 goals. By de-risking its projects through phase-1 operations, detailing its blueprint for phase-2 expansion, engaging with the marketplace in connection with commercial agreements, continually investing in research and development (“R&D”) and environmental, social and governance (“ESG”) initiatives, and building a robust and attractive capital structure, Nouveau Monde is executing its strategy to generate a disciplined and timely growth.
The Company is working towards building a turn-key, local supply of carbon-neutral anode material to cater to the growing North American and European battery and electric vehicles (“EV”) markets. As the #1 input of lithium-ion batteries, graphite totals 1.2 kg for every kWh of energy storage. In comparison to last year’s 2,972 GWh in the pipeline for battery cell capacity, the latest projections by Benchmark Mineral Intelligence estimate that 4,814 GWh is being developed to meet the surge in EV and energy storage solutions manufacturing – a 62% year-over-year increase. Such levels of battery production would represent a demand of 5.8 million tonnes of graphite for these market segments alone.
Arne H Frandsen, Chairman of Nouveau Monde, commented: “As electrification becomes mainstream and ESG principles dominate asset managers’ and investors’ consideration, Nouveau Monde has stepped up as a recognized contributor to the decarbonization effort. 2021 was a structural year as we lined the building blocks that will support the next stage of our development. Elevating our profile on capital markets, securing the permitting for our Matawinie mine, furthering the processes and parameters of our anode material advanced manufacturing, as well as advancing discussions with potential customers strengthened our position in the market.”
2021 Highlights
» Conducting of safe operations with Nouveau Monde’s zero-harm philosophy being top of mind to protect the environment, as well as the health and safety of employees, contractors, and communities.
» Construction, commissioning, and start of production at the Company’s phase-1 purification facility. Samples produced at 99.99% purity have confirmed the high-quality, battery-grade specifications of the material.
» Authorization by the Québec Government of the Matawinie mining project following a rigorous environmental review and public consultation.
» Continuous advancement of detailed engineering of the Matawinie concentrator and mining infrastructure – progress at year-end of overall engineering is estimated at 55%.
» Carrying out of a FEL-3 feasibility study for the large-scale phase-2 Bécancour battery material plant to reflect Nouveau Monde’s integrated business model for a comprehensive planning, cost projection, and development framework. The Matawinie mining project’s National Instrument 43-101 feasibility study covering the West Zone deposit will be updated on the back of the latest mineral resource update and the value-added transformation steps that are part of the Bécancour battery material plant.
» Sequenced construction timelines of the phase-2 mine and battery material plant should see phased ramp-up activities respectively in 2024 and 2025.
» Earthworks at the Matawinie mining project: construction of a nearly 8-km access road completed and commencement of civil works for the industrial platform.
» Signing of a historical agreement with Caterpillar Inc. for the development, testing, and deployment of Cat® zero-emission machines for the Matawinie mining fleet – that is projected to be the world’s first all-electric open-pit mine.
» Successful listing of the Company’s common shares on the New York Stock Exchange, the world’s largest stock market, under the symbol “NMG”.
» Building and commissioning of an advanced laboratory and R&D facility with the in-house capacity for testing anode material and providing customized specifications to battery and EV manufacturers.
» Production of meaningful battery-grade samples, including B-samples for advancing the product qualification process with battery and EV manufacturers, to support Nouveau Monde’s commercial discussions.
» Addition to phase-1 operations of a second commercial-scale shaping module and commencement of construction of a coating line for a nameplate capacity of 2,000 tonnes of coated spherical purified graphite (“CSPG”).
» Signing of a collaboration agreement with Lithion Recycling to advance the recovery and value-added transformation of recycled graphite for reuse as anode material.
» Patent application for the Company’s proprietary thermochemical purification ecotechnology, free of hydrofluoric acid and harnessing clean hydropower.
» Admission to the Global Battery Alliance, a World Economic Forum’s initiative regrouping leading players of the industry for helping establish a circular and sustainable battery value chain.
» Commitment to past, present, and future carbon neutrality thanks to the environmentally-focused design of Nouveau Monde’s projects and processes, historical compensation, and climate action strategy.
» Issuing of an inaugural ESG Report providing shareholders and asset managers with performance indicators and an overview of Nouveau Monde’s anchor initiatives.
» Over $130M raised through public and private offerings, the exercise of warrants, private placements, and financial levers from governments to support the Company’s current operations and the advancement of its key projects.
» Strengthened governance with the addition of strategic expertise at the Board of Directors with the nomination of Andrew Willis, Dr. Jürgen Köhler, Nathalie Pilon and James Scarlett, plus David Torralbo as Chief Legal Officer and Corporate Secretary, and enhanced structures, policies, and programs to guide the Company’s development.
Eric Desaulniers, Founder, President, and CEO of Nouveau Monde, added: “Supply chain disruptions this year and the accelerated pace of electrification compelled battery and EV manufacturers to examine their sourcing more closely. Securing volumes, diversifying sources, prioritizing local producers, and examining the carbon footprint of value chains are among the many factors that dominated commercial discussions in our market. I am pleased to see that our environmental stewardship, exceptional localization, and scaled growth strategy are positioning Nouveau Monde at the forefront of our industry. Special thanks go to our employees, partners, and shareholders for their unwavering support in helping us reach our objectives in 2021 and beyond.”
About Nouveau Monde
Nouveau Monde is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, Nouveau Monde aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
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Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to those describing the growth of the EV and energy storage markets, the Company’s growth, graphite demand, the Company’s planned integrated supply of carbon-neutral anode material, the projected energy requirements for EV and energy storage solutions and corresponding supply of graphite, the construction of the Company’s coating line and its intended capacity, the Company’s phase-2 commercial operations, completion of the FEL-3 study of the battery material plant, the Company’s ESG-focused business model, the trend towards electrification, the importance of ESG principles in investment considerations, the timeline of the initiatives described in this press release, the electrification of the open-pit mine, and those statements which are discussed under the “About Nouveau Monde” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking information and statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking information and statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com
Julie Paquet
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Third anaerobic digester built at London plant will support Ontario’s food waste diversion strategy
LONDON, Ontario--(BUSINESS WIRE)--StormFisher, a leader in circular economy decarbonization solutions, has increased its organic waste processing capacity through the construction of a third anaerobic digester at its London facility. Accompanied by a renewable natural gas (RNG) upgrading system, the plant is now the largest food waste anaerobic digestion facility in Canada, repurposing food waste to provide heat to 2,500 homes in Ontario and also support transport with sustainable fuel.
This expansion was made possible by StormFisher’s partnership with Generate, a leading North American sustainable infrastructure company, which owns and operates the London plant in partnership with StormFisher.
“Generate is thrilled to partner with StormFisher to build this additional capacity at the London facility,” said Bill Caesar, president of Generate’s waste-to-value business. “It’s critical to keep building smart, sustainable, circular and affordable waste management infrastructure like this to meet the challenges of the global climate crisis. This expands our ongoing commitment to be the leading provider of sustainable solutions for organic waste in North America.”
StormFisher began constructing the third anaerobic digester in 2020, which increases food waste intake capacity by 30 percent. The additional digester was constructed by Greatario, a leader in engineered storage systems, whose expertise has helped StormFisher continue to provide great service with best-in-class technology and infrastructure.
The StormFisher facility helps municipalities and businesses meet the requirements to divert waste from landfills in the Ontario Food and Organic Waste Policy. Ontario’s policy requires municipalities to implement green bin programs, initiating an organic waste diversion framework for food waste in the industrial, commercial, and institutional (ICI) sector. Now, with its increased capacity, StormFisher is helping the province work towards more sustainable practices. StormFisher was recently awarded the City of Toronto’s green-bin contract.
"Our in-house team of expert engineers, maintenance technicians and operators allows StormFisher to provide the best service to both our feedstock providers and energy customers,” said Pearce Fallis, vice president of operations at StormFisher. “This new digester is part of our commitment to bringing innovative solutions for organic waste to market, and an exciting part of our growth in capabilities across waste collection, anaerobic digestion, biogas production, and RNG upgrading.”
StormFisher has also expanded its renewable energy offerings with a renewable natural gas upgrading system that provides energy for heat as well as transportation to customers in Canada – all from renewable, sustainable sources. StormFisher can produce 225,000 gigajoules of RNG – enough energy to displace over 6.2 million liters of diesel fuel. This past summer alone, StormFisher provided FortisBC with over 60,000 GJ of energy through a long-term partnership.
“Increasing our supply of RNG is key to our 30BY30 target – our goal to reduce our customers’ emissions by 30 per cent by 2030,” said David Bennett, director of renewable gas and low carbon fuels at FortisBC. “We value our partnership with StormFisher and expect to receive up to 225,000 gigajoules of RNG each year, which is enough energy to heat around 2,400 BC homes annually.”
StormFisher’s leadership in circular economy solutions is paving the way for economic development in London and the surrounding area. Already, StormFisher’s London plant has attracted additional food processors to the area, supplying more jobs and growth to local communities.
This growth has been recognized by the London Economic Development Corporation. Kapil Lakhotia, President and CEO, said, “This is a welcome investment in innovative technologies to turn food waste into clean, renewable energy that helps meet greenhouse gas emissions targets while creating local jobs.”
About StormFisher
At StormFisher, our mission is to help mitigate climate change and create a safe and clean planet for people around the world through decarbonization strategies and solutions. We do this by converting food waste, water, and energy into renewable natural gas that can be used to power businesses, manufacturing plants, schools and other organizations. Visit stormfisher.com for more information or follow up on social media:
TW: @StormFisher05
Insta: @StormFisher8
FB: @StormFisher
Linked In: @stormfisher-environmental-ltd
About Generate
Generate Capital, PBC is a leading sustainable infrastructure company driving the infrastructure revolution. Generate builds, owns, operates, and finances solutions for clean energy, water, waste, and transportation. Founded in 2014, Generate partners with over 40 technology and project developers and owns and operates more than 2,000 assets globally. Generate is the one-stop shop offering pioneers of the infrastructure revolution tailored funding and support needed to get projects built. Our Infrastructure-as-a-Service model delivers affordable, reliable, and sustainable resources to over 2,000 customers, companies, communities, school districts and universities. Together, we are rebuilding the world. For more information, please visit www.generatecapital.com.
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PASADENA, Calif.--(BUSINESS WIRE)--$ATHN #ArtificialIntelligence--Heliogen, Inc. (“Heliogen”), a leading provider of AI-enabled, modular concentrated solar energy systems, today announced plans to collaborate with CarbonCapture Inc. (“CarbonCapture”) to develop sustainably-powered direct air capture (DAC) facilities.
As part of the relationship, the companies intend to kick off front-end engineering for the integration of Heliogen’s concentrated solar power and solid media thermal storage systems with CarbonCapture’s carbon removal technology. The aim of the development efforts would be to efficiently and cost-effectively harness the industrial heat production capabilities of Heliogen systems for use in CarbonCapture DAC systems.
“Heliogen’s revolutionary concentrated solar systems pair well with our breakthrough DAC technology — they are both modular, so they can be quickly sited and rapidly scaled,” said CarbonCapture CEO, Adrian Corless. “Providing clean energy to our DAC systems allows for highly efficient carbon removal—which is exactly what’s needed to maximize our ability to mitigate the effects of climate change.”
Both companies were founded under a decarbonization mission: Heliogen to decarbonize industry and CarbonCapture to decarbonize the atmosphere. The companies work toward complementary ends — Heliogen in reducing the pace and quantity of industrial carbon emissions and CarbonCapture in removing legacy emissions from the atmosphere. Both companies also grew out of Idealab Studio, another venture of Idealab founder and Heliogen CEO, Bill Gross.
“My goal in starting Heliogen was to improve the planet for my kids, and future generations, by producing clean energy to power industry,” said Bill Gross, CEO of Heliogen. “I am excited to bring the complementary technologies of CarbonCapture and Heliogen together. Direct air capture will be an important tool in the removal of carbon dioxide from the Earth’s atmosphere, and the reversal of some of the worst impacts of climate change. Powering that effort through clean, reliable, and near-always available solar generated power and heat multiplies the good we can do for the world.”
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.
About Carbon Capture, Inc. (CarbonCapture)
Based in Los Angeles, California, CarbonCapture is a direct air capture (DAC) company that makes modular machines that can be connected in large arrays to capture massive amounts of CO2 directly from the atmosphere. The company has developed breakthrough technical innovations that, for the first time, enable the use of widely available, inexpensive, non-toxic zeolites as an atmospheric carbon sponge. CarbonCapture focuses on negative emissions applications; it does not use its technology to reduce emissions from smokestacks or to support the production of fossil fuels.
For more information on CarbonCapture, please visit carboncapture.com.
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 of stockholders to be held to approve, among other things, the proposed business combination and related transactions (“Special Meeting”). The combined proxy statement/prospectus relating to the proposed business combination was 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 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 were 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.
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