HOUSTON--(BUSINESS WIRE)--Tidewater Inc. (NYSE: TDW) (the “Company”) today announced that it has closed the Company’s offering of USD $175 million aggregate principal amount of 8.5% senior secured bonds due 2026. An application will be made for the bonds to be listed on the Nordic ABM within six months of the issue date for the bonds.
The Company used the net proceeds from the bond issue towards the refinancing of the Company’s outstanding debt and for general corporate purposes.
The bonds were privately placed in the United States in accordance with U.S. securities laws and sold outside the United States pursuant to Regulation S under the Securities Act of 1933.
The bonds have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.
About Tidewater
Tidewater owns and operates one of the largest fleets of offshore support vessels in the industry, with more than 65 years of experience supporting offshore energy exploration, production, generation and offshore wind activities worldwide.
Forward-Looking Statements
In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Tidewater notes that certain statements set forth in this press release contain certain forward-looking statements which reflect our current view with respect to future events and future financial performance. Forward-looking statements are all statements other than statements of historical fact. All such forward-looking statements are subject to risks and uncertainties, many of which are beyond the control of the Company, and our future results of operations could differ materially from our historical results or current expectations reflected by such forward-looking statements. Investors should carefully consider the risk factors described in detail in the Company’s most recent Form 10-K, most recent Form 10-Q, and in similar sections of other filings made by the Company with the SEC from time to time. The Company’s filings can be obtained free of charge on the SEC’s website at www.sec.gov. Except to the extent required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this press release to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any statement is based. Forward-looking statements and written and oral forward-looking statements attributable to the Company or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports filed by the Company with the SEC.
Tidewater Inc.
West Gotcher
Vice President,
Finance and Investor Relations
+1.713.470.5285
House of Lithium Increases its Position in Reby Inc. to 16.67% on a fully-diluted basis
Reby Inc. is Led by 28-Year-Old 3x Technology Entrepreneur and Investor Pep Gómez, who is also the founder of Fever, the Global Leader In The Digitization Of The Experience Economy
TORONTO--(BUSINESS WIRE)--SOL Global Investments Corp. (the “Company” or “SOL Global”) (CSE: SOL) (OTCQ: SOLCF) (Frankfurt: 9SB) and House of Lithium Ltd. (“House of Lithium”) are pleased to announce that House of Lithium has made a cash investment in the amount of US$5 million (the “Investment”) in Reby Inc. (“Reby”).
House of Lithium made the Investment through the purchase of a convertible promissory note (the “Convertible Note”) issued by Reby on October 14, 2021. The Convertible Note is due and payable in full on the 12-month anniversary of its issue and provides for an interest rate of 1% per year. The principal and unpaid accrued interest of the Convertible Note will be converted (the “Conversion”) into Reby’s most senior preferred stock (“Reby Securities”) on the closing of a bona fide preferred equity financing of Reby (an “Equity Financing”), or earlier at the election of House of Lithium. The Reby Securities to be issued upon the Conversion shall be at a conversion price that would result in House of Lithium holding, together with its existing position in Reby, an aggregate of 16.67% of Reby’s fully diluted capital.
According to a new market research report published by Sheer Analytics and Insights, “Europe Mobility as a Service (MAAS) Market was US$14.3 Billion in 2020, and it is expected to reach US$413.2 Billion by 2031”. It is expected to grow at commendable compound annual growth rate (CAGR) of 35.7% between 2021-2031.1
“Reby is different from the other micro mobility companies that we have looked at,” said Andy DeFrancesco, House of Lithium Founder and CEO. “Reby is already profitable and its founder and Chairman, Pep Gomez, is a repeat tech superstar, and he’s only 28 years old. Previously (at age 18), Pep founded and was the Chairman and CEO of Fever (www.feverup.com), the world’s leading event discovery platform. At Fever, Pep raised over $75M from investors like Accel Partners, Fidelity, Rakuten and 14W Ventures. At Reby, Pep has focused on strong tier 2 markets across Europe, partnering with local governments and institutions to modernize their local transportation ecosystem. Reby has attracted investment from Neo (which was among the first money in Uber, Airbnb and Facebook), Fuel Capital (Convoy), EXOR Seeds (Agnelli Family Holding), 14W Ventures (Wallapop, Spotify), as well as an early Tesla investor and board member, Simon Rothman.
“We are very excited to strengthen our partnership with House of Lithium, and we both share a similar vision about the future of electric vehicles,” said Pep Gomez, Reby founder and Chairman. “The European micro-mobility market is in the midst of a transformation, as municipalities are beginning to reward companies that invest heavily in R&D to ensure a smooth, safe coexistence with its citizens. Reby has been focusing on building a profitable firm since day one. I am personally a huge fan of building businesses in markets overlooked by the VC community, as that’s where the opportunity lies.”
Based in Barcelona, Spain, Reby produces and distributes electric vehicles for shared use within Europe, and sells its e-scooters directly to consumers. Reby operates through 3 complementary business lines in the micro mobility, scooter rental and direct to consumer electric micro mobility markets. It has over 10,000 vehicles and operates in 12 cities within Europe. Reby contributes to the shared micro mobility ecosystem in Europe by sharing its expertise in logistics and public administration with partners such as the Universitat Politècnica de Catalunya, the Universitat de Girona, and the Politecnico di Milano, to ultimately accelerate deregulation and mass adoption of mobility-as-a-service solutions. Visit https://www.reby.co/.
Cautionary Statements
This press release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may,” “will,” “expect,” “likely,” “should,” “would,” “plan,” “anticipate,” “intend,” “potential,” “proposed,” “estimate,” “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. There is no assurance that the transactions described herein will occur on the expected timeline, in the manner described, or at all.
Forward-looking information is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release.
Other risk factors include: the risks resulting from investing in the U.S. marijuana industry, which may be legal under certain state and local laws but is currently illegal under U.S. federal law; the risks of investing in securities of private companies which may limit the SOL Global’s or House of Lithium’s ability to sell or otherwise liquidate those securities and realize value; reliance on management; the ability of SOL Global and House of Lithium to service its current or future debt; SOL Global’s and House of Lithium’s ability to obtain additional financing from time to time to pursue its business objectives; competition; litigation; inconsistent public opinion and perception regarding the medical-use and adult-use marijuana industry; and regulatory or political change. Additional risk factors respecting SOL Global can also be found in SOL Global’s current Management’s Discussion & Analysis, which has been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information.
The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. Neither SOL Global nor House of Lithium undertakes any obligation to update nor revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
This news release includes market and industry data that has been obtained from third party sources, including industry publications. The Company and House of Lithium believe that the industry data is accurate and that its estimates and assumptions are reasonable, but there is no assurance as to the accuracy or completeness of this data. Third party sources generally state that the information contained therein has been obtained from sources believed to be reliable, but there is no assurance as to the accuracy or completeness of included information. Although the data is believed to be reliable, neither the Company nor House of Lithium has independently verified any of the data from third party sources referred to in this press release or ascertained the underlying economic assumptions relied upon by such sources.
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1 https://www.sheeranalyticsandinsights.com/market-report-research/europe-mobility-as-a-service-maas-market-21/
SOL Global Investments Corp.
Paul Kania, CFO
Phone: (212) 729-9208
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
For media inquiries:
Davis Richardson
AMW PR
Phone: 212.542.3146
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
WEST SPRINGFIELD, Mass.--(BUSINESS WIRE)--ESG Clean Energy, LLC (“ESG”), developers of Net Zero Carbon Footprints and clean energy solutions for distributed power generation, released a statement today in response to a report issued by Kerrisdale Capital about Camber Energy (NYSE Amex: CEI) and Viking Energy Group (“Viking”) (OTCQB: VKIN) that ESG believes contains misleading and inaccurate information about ESG.
The full statement can be viewed here.
For more information about ESG Clean Energy, please visit www.ESGCleanEnergy.com.
About ESG Clean Energy, LLC
ESG Clean Energy, LLC (ESG) develops Net Zero Carbon Footprints and clean energy solutions for businesses and power providers using natural gas. The ESG system utilizes patented, off-the-shelf technology to efficiently produce electricity while capturing and converting 100% of the carbon dioxide and water vapor, which can be used in the production of various commodities, such as distilled water, ethanol, and urea. More information about ESG Clean Energy, its technology, and its current projects can be found at www.ESGcleanEnergy.com.
Media:
Bill Wrinn
978-559-1970
Company will compete to provide a range of services to support the MyNavy HR Enterprise, improving human resources service delivery to all sailors, their families and future recruits
RESTON, Va.--(BUSINESS WIRE)--Science Applications International Corp. (NYSE: SAIC) was awarded a contract to compete for task orders worth up to $556 million supporting the Technical Services Support (TSS) 2 Contract for MyNavy HR Enterprise, part of the Navy’s effort to modernize the way it delivers human resources service to sailors, their families and future recruits. The contract represents a continuation of SAIC’s work on the Navy’s previous TSS 1 contract.
Under the five-year, indefinite-delivery/indefinite-quantity contract, SAIC will compete with other selected vendors to provide support services in 10 core function categories: CIO strategic support; data and information management; engineering support; IT system support; network support; information assurance/cybersecurity; enterprise business intelligence/enterprise business analytics; software analysis; hardware maintenance and development; and business process reengineering.
“We are pleased that our track record of success on the first TSS contract made us a partner of choice for the U.S. Navy’s follow-on program, and we are proud to be able to bring our innovation and transformative solutions to serve the Office of the Chief of Naval Operations and subordinate commands,” said Bob Genter, president of SAIC’s Defense and Civilian Sector. “We look forward to helping the Navy to modernize its human resources service delivery through SAIC’s proven innovative enterprise IT engineering support and management.”
The Navy expects to complete work on this cost-plus-fixed-fee contract in October 2026 with an option to extend the ordering period to April 2027.
About SAIC
SAIC® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.
We are more than 26,500 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has pro forma annual revenues of approximately $7.1 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
Media Contact:
Brad Bass
240.418.0168 | This email address is being protected from spambots. You need JavaScript enabled to view it.
HIGHLIGHTS
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) today announced that it has agreed to acquire substantially all of the non-operated Permian Basin assets (the “Assets”) owned by certain entities affiliated with Veritas Energy, LLC (“Veritas” or the “Seller”).
PERMIAN BASIN ACQUISITION
Northern has entered into a definitive agreement to acquire non-operated oil and gas properties located in the Delaware and Midland Basins for a cash purchase price of $406.5 million, subject to typical closing adjustments. The assets are primarily located in Lea and Eddy counties, NM, and Loving, Reeves, Ward and Winkler counties, TX.
As part of the transaction, Northern will issue the Seller ~1.9 million seven-year equity warrants with a strike price of $28.30 at closing. Northern expects to commence a public equity offering to fund a portion of the acquisition.
Current production on the assets is approximately ~9,100/11,500 Boe per day (2-stream/3-stream, ~60% oil), and Northern expects average production of more than 10,500 Boe per day in 2022 (2-stream, ~60% oil). During the pre-closing period, Northern expects the assets to generate approximately $43 to $45 million of cash flow from operations in the fourth quarter of 2021 with $50 million of capital expenditures and expected closing adjustments. Northern expects the assets to be immediately self-funding at closing. Forward 1-year unhedged cash flow from operations from the effective date is expected to be approximately $185 million and 2022 unhedged cash flow from operations is expected to exceed $180 million, based on current strip pricing. Northern expects $35 to $40 million in capital expenditures on the assets in 2022. The acquired assets include 31.7 net producing wells, 5.6 net wells in process, 4.0 AFE’d or permitted net wells and 40.8 risked net future development locations. The assets are managed by multiple, best-in-class operators in the Permian Basin, including Mewbourne, Devon, ConocoPhillips, and EOG as the largest operators accounting for an estimated 64% of the expected 2022 production across the Assets.
The effective date for the transaction is October 1, 2021 and Northern expects to close the transaction in the first quarter of 2022.
RISK MANAGEMENT
In connection with signing the transaction, the Company plans to hedge a substantial portion of the expected oil and natural gas production on the acquired Assets for 2022 and additional hedges for PDP volumes in 2023 and 2024.
INCREASED STOCKHOLDER RETURNS
Given the strong cash flows from the Assets, Northern’s Management intends to submit a request to the Board of Directors for a 50% increase to the common stock dividend for the first quarter of 2022, for shareholders on record as of March 30, 2022. If approved, this increase to a dividend of $0.12 per common share would represent a 300% increase since Northern’s initiation of a dividend program in May 2021. Under Delaware law, the Board may not declare a dividend more than 60 days before the record date.
MANAGEMENT COMMENTS
“This transaction completes the strategic transformation of our business that began in 2018,” commented Nick O’Grady, Chief Executive Officer of Northern. “It will drive immediate significant accretion across the board to our investors, increased cash returns, and importantly, creates a truly diversified business of scale, with substantial free cash flow that can self-fund future growth.”
“The Veritas transaction marks our fourth significant transaction in 2021 as we return focus to the Delaware basin, further scaling our business and building inventory with premier operators,” commented Adam Dirlam, Chief Operating Officer of Northern. “Northern continues to set the standard for non-operated energy management and will remain steadfast in our focus on consolidating high quality, low-breakeven assets.”
CONFERENCE CALL
Northern has recorded a conference call to discuss the aquisition. Those wishing to listen to the conference call may do so by going to the Company's website under the News/Events section.
ADVISORS
Morgan Stanley & Co. LLC is Northern’s lead financial advisor. Bank of America is a co-advisor to Northern on the transaction. Kirkland & Ellis LLP is serving as Northern’s legal advisor. Tudor, Pickering, Holt & Co. is financial advisor to Veritas. Willkie Farr & Gallagher LLP is serving as Veritas’s legal advisor.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
ABOUT VERITAS ENERGY, LLC
Veritas Energy, LLC, an independent oil and natural gas company based in Fort Worth, Texas, with equity financing from affiliates of Carnelian Energy Capital Management, L.P. and Old Ironsides Energy, LLC and from the Veritas management team, is focused on leasing, developing and operating oil and gas properties, primarily in the Permian Basin. For more information, please visit www.veritasenergyllc.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Northern’s financial position, common stock dividends, including any increases thereto, business strategy, plans and objectives of management for future operations and industry conditions are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Northern’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on Northern’s properties and properties pending acquisition, the effects of the COVID-19 pandemic and related economic slowdown, Northern’s ability to acquire additional development opportunities, changes in Northern’s reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which Northern conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, Northern’s ability to consummate any pending acquisition transactions (including the transactions described herein), other risks and uncertainties related to the closing of pending acquisition transactions (including the transactions described herein), Northern’s ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Northern’s operations, products, services and prices.
Northern has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Northern’s control. Northern does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
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With demand response commitments from small businesses and national commercial chains, like Walgreens, GridPoint proves scalability and value in leveraging small-to-medium commercial buildings as grid resources
RESTON, Va.--(BUSINESS WIRE)--#Walgreens--Intelligent energy network provider GridPoint today announced the company has seen substantial growth of customer participation in automated demand response (DR) programs during the 2021 peak demand season, equaling a 192% increase in capacity under management over 2020. By engaging small business and enterprise commercial customers, like Walgreens, with buildings under 50,000 sq. ft., GridPoint proves these underutilized building profiles can be leveraged today as a resource to provide the reliable, on-demand capacity the grid increasingly requires.
GridPoint has been providing flexible capacity to the grid from commercial buildings for over 15 years. These programs create new revenue streams for businesses through utility program participation and avoid costly peak energy charges during high-demand times. However, businesses that occupy these smaller-profile buildings are often overlooked by utilities due to the limited load they can provide at a given time. GridPoint’s approach enables small business and enterprise commercial market participation in DR programs through grid-interactive, OpenADR-certified technology deployed as a subscription, without impacting daily operations. By breaking down technology cost barriers and providing efficiency benefits directly to the business, GridPoint bridges the gap between utilities and millions of small-to-medium size buildings across the country that hold untapped capacity. These buildings, networked together, unlock the substantial capacity needed today for a more efficient tomorrow.
Recent trends of electrification, the transition towards renewables, and extreme weather as seen in California and Texas can be attributed to the increased participation GridPoint saw in the 2021 DR season. Businesses are realizing the real-world impacts of power disruption and rising energy costs, and they want to be a part of the solution.
Walgreens, for example, has been leveraging GridPoint’s platform to manage energy and optimize their buildings since 2009. Together with GridPoint they have reduced emissions by over 80 million kWh annually. Walgreens also participates in demand response through GridPoint while keeping essential zones, like the pharmacy, functioning normally during events. Throughout the California grid emergency in August of 2020, Walgreens was instrumental in voluntarily curtailing load across impacted locations, providing megawatts of capacity back to the grid. The company’s contributions helped to stabilize energy demand and avoid additional blackouts. Learn more about Walgreens’ demand response participation in this video.
“In 2021 GridPoint increased our nationwide DR program coverage by 46%, increased our capacity under management by 192%, and increased our customer participation in DR programs by 195% with zero opt-outs for the entire 2021 program year,” said GridPoint CEO Mark Danzenbaker. “This dramatic growth proves that leveraging the underutilized capacity of smaller buildings is a scalable, reliable solution to address urgent energy needs, and GridPoint can do this today.”
Reach out to GridPoint directly to learn more about their demand response solutions for summer seasons and beyond.
About GridPoint
GridPoint’s mission is to accelerate the world’s transition to a sustainable energy future by creating a network of grid-interactive buildings. By transforming the way commercial businesses use energy through hardware and AI software, GridPoint unlocks the decarbonization, sustainability, and grid resiliency required for a cleaner, more efficient tomorrow. The technology platform harnesses power and potential within a building to deliver energy, operational, and resiliency benefits. Networked together, these buildings provide reliable, precise, and instantaneous capacity for utilities and grid operators. GridPoint’s network includes Fortune 500 enterprises, utilities, government organizations and industrial complexes.
Katie O’Shea | This email address is being protected from spambots. You need JavaScript enabled to view it. or (703) 667-7051
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has commenced an underwritten public offering of 10,000,000 shares of its common stock (the “Offering”), which includes 9,500,000 shares being offered by the Company and 500,000 shares being offered by Cresta Investments, LLC and Cresta Greenwood, LLC (collectively, the “Selling Stockholders”). The Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares from the Company. The Company will not receive any proceeds from any sale of shares by the Selling Stockholders. The Selling Stockholders’ participation in the Offering is driven solely by tax planning purposes and 100% of proceeds received by Selling Stockholders from the Offering will be used for charitable purposes. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
The Company intends to use the net proceeds from the Offering and, to the extent necessary, cash on hand and/or borrowings under its revolving credit facility to fund the cash purchase price of the Company’s recently announced pending acquisition of substantially all of the non-operated Permian Basin assets owned by certain entities affiliated with Veritas Energy, LLC (the “Veritas Acquisition”). Pending the use of proceeds as described above, the Company may temporarily apply a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility. The consummation of the Offering is not conditioned upon the completion of the Veritas Acquisition and the consummation of the Offering is not a condition to the completion of the Veritas Acquisition. If the Veritas Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the repayment of outstanding indebtedness.
Morgan Stanley & Co. LLC is acting as lead book-running manager for the Offering and BofA Securities is acting as a joint book-running manager for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectuses, which were filed as part of effective shelf registration statements filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectuses relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or BofA Securities, at NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department or by emailing to This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the Company’s plans to issue the common stock and the anticipated use of the net proceeds from the Offering. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; the effects of the COVID-19 pandemic and related economic slowdown; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Veritas Acquisition; the Company’s ability to consummate the Veritas Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Veritas Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; financial or political instability, acts of war or terrorism; and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products, services and prices. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarters ended March 31, 2021, June 30, 2021 and September 30, 2021, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward-looking statements.
The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. You are urged not to place undue reliance on these forward‑looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, the Company does not undertake, and specifically disclaims, any obligation to update any forward‑looking statements to reflect events or circumstances occurring after the date of such statements.
Mike Kelly, CFA
Chief Strategy Officer
952-476-9800
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WALTHAM, Mass.--(BUSINESS WIRE)--PerkinElmer, Inc. (NYSE: PKI), a global leader committed to innovating for a healthier world, today announced that the Company will present at the Evercore ISI 4th Annual HealthCONx Conference 2021 on Wednesday, December 1, 2021 at 10:30 a.m. ET.
Prahlad Singh, president and chief executive officer of PerkinElmer, will provide an update on the Company and its strategic priorities. To register, click here.
A live audio webcast will be available on the Investors section of the Company’s website at www.perkinelmer.com. A replay of the presentation will be posted on the PerkinElmer website after the event and will be available for 90 days following.
About PerkinElmer
PerkinElmer, Inc. is a global leader focused on innovating for a healthier world. The Company reported revenue of approximately $3.8 billion in 2020, has about 15,000 employees serving customers in 190 countries, and is a component of the S&P 500 Index. Additional information is available at www.perkinelmer.com.
Investor Relations:
Steve Willoughby
(781) 663-5677
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Media Relations:
Chet Murray
(781) 663-5728
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Recent $860 Million Issuance Demonstrates Company’s Commitment to Triple Bottom Line
SAN FRANCISCO--(BUSINESS WIRE)--Building upon its longstanding commitment to sustainability and environmental stewardship, PG&E Recovery Funding, LLC, a subsidiary of Pacific Gas and Electric Company (the Utility), recently finalized an $860 million green bond issuance to finance electric work that will have significant environmental benefits, while also keeping customers and hometowns safe.
PG&E Recovery Funding issued the bonds to finance a variety of investments that the Utility has made in its electric system and were recently designated as green bonds following an analysis by S&P Global Ratings. Green bonds are a designation for capital project financings with environmental benefits.
“These first green bonds are another way we are working to deliver on the triple bottom line of serving people, the planet and California’s prosperity,” said Chris Foster, PG&E Corporation’s Executive Vice President and Chief Financial Officer. “These bonds will reduce costs for our customers while financing projects that will help protect California’s forests against the impacts of extreme weather and our changing climate, facilitate the distribution of clean energy, and protect our customers and planet from future climate-driven risks.”
In addition to the environmental benefits, financing critical wildfire safety work through these recovery bonds authorized by Assembly Bill 1054 will result in significant customer savings due to the lower cost of securitization when compared to traditional utility financing. The transaction is expected to result in $450 million of customer savings on a net present value basis relative to traditional rate base financings.
The investments financed by these green bonds include electric system improvements and hardening efforts found within Pacific Gas and Electric Company’s Community Wildfire Safety Program. These investments have been authorized by the California Public Utilities Commission through the utility’s 2020 General Rate Case, as well as its Wildfire Mitigation Plans.
In conducting its analysis of the bond issuance, S&P Global Ratings noted that the utility’s work would have environmental benefits by hardening the electric system and preventing the ignition and spread of wildfires, therefore preserving the health of California’s forests, and maintaining the existing state of natural ecosystems.
About PG&E Corporation
PG&E Corporation (NYSE: PCG) is a holding company headquartered in San Francisco. It is the parent company of Pacific Gas and Electric Company, an energy company that serves 16 million Californians across a 70,000-square-mile service area in Northern and Central California. For more information, visit http://www.pgecorp.com.
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and the Utility (together, “PG&E”), including but not limited to the issuance of green bonds and their environmental, financial and operational impacts. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation and the Utility's joint annual report on Form 10-K for the year ended December 31, 2020, their most recent quarterly report on Form 10-Q for the quarter ended September 30, 2021, and other reports filed with the Securities and Exchange Commission, which are available on PG&E Corporation's website at pgecorp.com and on the SEC website at www.sec.gov. PG&E Corporation and the Utility undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.
Investor Relations Contact: 415.972.7080 | Media Inquiries Contact: 415.973.5930 | www.pgecorp.com
Longer run time and steam generation through concentrated solar, combined with high-temperature electrolysis, unlock low-cost hydrogen production
PASADENA, Calif. & SAN JOSE, Calif.--(BUSINESS WIRE)--#ArtificialIntelligence--Heliogen, Inc. and Bloom Energy Corporation (NYSE: BE) today announced the generation of green hydrogen by integrating the companies’ technologies – Heliogen’s concentrated solar energy system and the Bloom Electrolyzer. The successful demonstration in Lancaster, California produced hydrogen and showcased the many benefits of combining the companies’ complementary technologies to achieve low-cost green hydrogen production.
Heliogen’s AI-enabled concentrated solar energy system is designed to create carbon-free steam, electricity, and heat from abundant and renewable sunlight. When combined with Bloom’s proprietary solid oxide, high-temperature electrolyzer, hydrogen can be produced 45 percent more efficiently than low-temperature PEM and alkaline electrolyzers. Electricity accounts for nearly 80 percent of the cost of hydrogen from electrolysis. By using less electricity, hydrogen production is more economical and accelerates adoption. In addition, the ability to use heat, which is a much lower cost source of energy than electricity, further improves the economics of green hydrogen production.
Heliogen’s concentrated solar technology is different than traditional photovoltaic solar; it facilitates hydrogen generation for longer periods of time, operating near 24/7 by storing the solar energy, resulting in more compact and lower cost production. The extended operating time of Heliogen’s technology and Bloom Energy’s ability to efficiently utilize heat is designed to reduce the cost of green hydrogen production compared to competing solutions.
Hydrogen use is forecast to grow from 115 million metric tonnes currently to 500-800 million metric tonnes a year by 2050, accounting for 15 to 20 percent of total global energy demand. Hydrogen projects already announced represent over $300 billion in spending across the value chain, and McKinsey & Company analysts expect at least $150 billion of that spend to be related to hydrogen production, which Heliogen and Bloom Energy are addressing through their collaboration.
The successful demonstration is an important step forward towards the goal of replacing fossil-derived fuels with green hydrogen in commercial and industrial applications. Responsible for more than one-third of the world’s energy consumption and a quarter of global CO2 emissions, industrial companies are particularly well-suited for low-cost, large-scale hydrogen utilization given their substantial energy requirements and notable carbon emissions. Further, the integration of Heliogen and Bloom Energy is a significant milestone for the hydrogen economy, as it is expected to unlock a future of economically viable green hydrogen production on par with hydrogen produced from photovoltaic solar generation.
“Our demonstration project with Bloom Energy represents a significant leap toward full commercial-scale green hydrogen production, which will play an important role in decarbonizing heavy industry,” said Bill Gross, founder and CEO of Heliogen. “Following this successful integration of Heliogen’s near-24/7 solar steam generation with the Bloom Electrolyzer, we expect that commercial projects will use Heliogen technology to supply their electric power as well, providing 100 percent of the thermal and electrical energy required to produce green hydrogen.”
“This integration with Heliogen underscores the value that strategic collaborations and industry-leading innovation can bring to driving change and making positive impacts for our climate,” said Venkat Venkataraman, executive vice president and chief technology officer, Bloom Energy. “With a focus on providing highly efficient and low-cost green hydrogen at scale, we will be a leader in low-cost hydrogen.”
Heliogen and Bloom Energy plan to continue their testing efforts and look forward to sharing further information at a future date.
Additional information on the companies’ integrated solution can be found here: https://bit.ly/heliogen-bloom-energy-green-hydrogen-demo.
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: www.heliogen.com/investor-center/.
Additional Information and Where to Find It
In connection with the proposed business combination between Heliogen, Inc. (“Heliogen”) and Athena Technology Acquisition Corp. (“Athena”), Athena has filed with the Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 containing a preliminary proxy statement and a preliminary prospectus which has not yet become effective. After the registration statement is declared effective, Athena will mail a definitive proxy statement/prospectus relating to the proposed business combination to its stockholders. 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. Additional information about the proposed business combination and related transactions will be described in Athena’s combined proxy statement/prospectus relating to the proposed business combination and the businesses of Athena and Heliogen, which Athena has filed with the SEC. 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 preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus, when available, and other documents filed in connection with Athena’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination and related transactions, because these materials will contain important information about Heliogen, Athena and the proposed business combination and related transactions. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of Athena as of a record date to be established for voting on the proposed business combination and related transactions. 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 will be contained in the preliminary and definitive proxy statements/prospectus related to the proposed business combination and related transactions when it becomes available, and which can be obtained free of charge from the sources indicated above. For the avoidance of doubt, Bloom Energy shall not be deemed to be a participant in the solicitation and disclaims liability related to the proposed transaction between Heliogen and Athena.
No Offer or Solicitation
This communication shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom Energy’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom Energy’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements Related to Bloom Energy Corporation
This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would” and similar expressions identify such forward-looking statements. These statements include, but are not limited to, expectations regarding the success of the companies’ integrated technologies; expectations for economically viable green hydrogen production; expectations regarding the Bloom Electrolyzer; ability to improve the economics of green hydrogen production; expectations related to replacing fossil-derived fuels with green hydrogen in commercial and industrial applications; and expectations related to future hydrogen production. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including timing of market adoption of hydrogen projects and solutions, and those included in the risk factors section of Bloom Energy’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and other risks detailed in Bloom Energy’s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.
Media Contacts:
Leo Traub, Antenna Group for Heliogen
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+ 1 (646) 883 3562
Jennifer Duffourg, Bloom Energy
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+ 1 (480) 341 5464
Investor Contacts:
Caldwell Bailey, ICR Inc. for Heliogen
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Edward Vallejo, Bloom Energy
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Enviva will work with J-Power to develop a global supply chain of up to 5 million metric tons of sustainable woody biomass to replace coal in J-Power’s power plants
BETHESDA, Md. & TOKYO--(BUSINESS WIRE)--#Biomass--Enviva Partners, LP (NYSE:EVA) (“Enviva”), a global renewable energy company specializing in sustainable wood bioenergy, and Tokyo-based utility Electric Power Development Co., Ltd. (TYO:9513) (“J-Power”), have signed a memorandum of understanding (MOU) for the long-term, large-scale supply of sustainable wood biomass from Enviva's manufacturing facilities in the U.S. Southeast to J-Power’s coal-fired power plants in Japan. The agreement is designed to develop an executable and investable plan under which Enviva will build new infrastructure to produce and deliver up to 5 million metric tons of sustainable wood pellets to permanently replace coal in J-Power’s existing coal-fired power plants, significantly curbing the utility’s greenhouse-gas emissions. The MOU provides a framework to advance the role of biomass as a renewable and sustainable energy source and help J-Power meet its “Blue Mission” goal to be carbon-neutral by 2050.
“Climate change is a global challenge requiring a global solution. Enviva has an established track record of delivering a dependable, scalable, and sustainable product, which today delivers substantial and deep decarbonization of energy to generators and industrials around the world,” said Thomas Meth, co-founder and executive vice president of sales and marketing at Enviva. “We are delighted that our partnership with J-Power can help this leading utility in Japan reach its climate goals with reliable, baseload energy that complements the intermittency of wind and solar.”
In April, Japan, the world’s third-largest economy, nearly doubled its 2030 target to cut carbon emissions by 40%, up from 26% in 2013, joining other countries shifting from coal and other fossil fuels to accelerate the fight against climate change. To further align with the government decarbonization policy, J-Power, which has a total of 8.4 gigawatts of coal-fired power capacity, recently announced various plans, including phase-out of aged thermal power plants and co-firing of biomass or ammonia.
Under the agreement, the parties will jointly evaluate the most sustainable and cost-effective means to deliver on the potential of the coal-to-biomass conversion project, such as security of supply, port reception, delivery and storage logistics, safety measures, and project economics. The investment will leverage J-Power’s existing coal-fired power plants by re-purposing them via conversion, resulting potentially in both dedicated as well as co-fired biomass plants.
Converting existing coal-fired power plants to sustainable biomass usage is one of the quickest, most cost-effective ways to reduce the lifecycle greenhouse gas emissions of a plant by more than 80 percent while retaining jobs throughout the supply chain. Coal-to-biomass conversion projects enable former coal plants to continue operating cost-efficiently with their existing supply, generation, and grid infrastructure. Unlike wind and solar energy, biomass is not dependent on grid expansion.
“We are confident that our partnership with Enviva, which has a track record of supplying biomass sustainably and reliably, will firmly support J-Power’s efforts in realizing carbon-neutrality. By combining J-Power’s highly efficient technology to utilize solid fuel and Enviva’s global supply capability, we are meeting the social expectations of achieving carbon neutrality coupled by stable energy supply,” said Shinsuke Suzuki, Executive Officer, Director of Thermal Energy & Value Creation Department at J-Power.
Biomass ultimately provided by Enviva under the agreement will be certified under the European Union’s (EU) current sustainability criteria, which maintains and improves long-term forest health, growth, and capacity. The EU’s sustainability standard guarantees biomass is only sourced from sustainably managed forests that are regenerated, ensuring that carbon stocks are stable or growing, that forest harvesting is legal, and prevents sourcing from nature protection areas, taking soil quality and biodiversity into account.
Earlier this year, Enviva announced its own Net-Zero Commitment that will reduce, eliminate, or offset all of its direct emissions by 2030. Enviva agreed to adopt innovative and improved lower-emission processes through investments in projects that result in real, additional, and third-party verified net-carbon reductions as part of this ambitious plan to cut carbon emissions from fossil fuels and improve energy efficiency.
To learn more about Enviva’s 2030 net-zero plans and goals, click here. To learn more about J-Power’s Blue Mission 2050 initiative, click here.
About Enviva
Enviva (NYSE:EVA) aggregates a natural resource, wood fiber, and processes it into a transportable form, wood pellets. Enviva sells a significant majority of its wood pellets through long-term, take-or pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan. Enviva owns and operates 10 plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, Enviva exports wood pellets through its marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at envivabiomass.com. Follow Enviva on social media @Enviva.
About Electric Power Development Co., Ltd. (J-Power)
Electric Power Development Co., Ltd. (J-Power) is a Japan-based power generator and whole seller. J-Power has 18,250 megawatts (MW) of power generation capacity at 97 locations in Japan. Its hydropower share represents about 47%, and thermal power about 50%, respectively. J-Power is developing renewable power facilities such as wind or geothermal, with a plan to increase capacity to 1,500 MW by 2025. Internationally, J-Power has 6,544 MW of power generation capacity in 33 locations, such as in Thailand, the United States, and China.
On February 26, 2021, J-Power announced its “Blue Mission 2050,” along with its goals to reduce 40% of carbon emission by 2030 compared to three-year average of actual emissions in 2017-2019, and to reach net-zero (carbon neutrality) by 2050. The roadmap includes transition from coal to carbon-free hydrogen, development of renewable power, development of nuclear power as carbon-free source, and expansion of power grid as Japan’s core infrastructure.
Cautionary Note Concerning Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included herein, regarding Enviva’s future financial performance, as well as Enviva’s strategy, future operations, financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used herein, including any oral statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Enviva disclaims any duty to revise or update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Enviva cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Enviva.
Enviva
Maria Moreno
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+1-301-657-5560
J-Power
+81-3-3546-2211
Horizon L:TEC® trackers chosen for bankability and ability to deploy in extreme weather environments
PHOENIX--(BUSINESS WIRE)--Ideematec Inc., a leading provider of utility-scale solar tracking systems, today announced its partnership with Eco Engineering, LightEdison, and Source Renewables to develop 100 megawatts (MW) of utility-scale solar in New York using Ideematec’s Horizon L:TEC® solar tracking system.
The companies will first deploy a 25 MW portfolio of community solar projects in National Grid service territory that are registered under New York’s NY-Sun program. The program allows local businesses, homeowners and communities to choose clean energy and lower energy costs.
“Partnering with Ideematec’s expert team allows us to bring maximum overall portfolio value and support reliable, clean energy for New Yorkers,” said Osea Nelson, Partner at LightEdison. “We are drawn to the Horizon L:TEC®’s ability to withstand upstate New York’s extreme weather environments, streamlined installation process, and bankability. We’re also confident in the team at Ideematec, who recognizes the value of transparency and ongoing communication for a multi-sited portfolio of this size.”
“We are pleased to partner with this expert development and design-build team to advance clean energy adoption in New York. The flexible configuration and locking technology of our two-in-portrait (2P) tracker are an ideal combination for the demanding environments and challenging terrains in the Northeast,” said Philipp Klemm, CEO at Ideematec Inc. “Ideematec has shipped over 3.5GW of trackers worldwide and this expansive portfolio solidifies our standing in the North American market.”
Eco Engineering/LightEdison will lead the portfolio’s procurement efforts as a joint venture in partnership with Source Renewables, a clean energy development company.
About Ideematec, Inc.
Ideematec, Inc. is a trusted provider of utility-scale solar tracking systems, based in Phoenix, Arizona and backed by 12 years of global tracker expertise. The North American company pioneered the Horizon L:TEC® tracker which is powered by a patented decoupled drive technology and locked sprocket system. Along with safeTrack Horizon™, Ideematec offers both 1P and 2P, and capacity from 1 to 12 strings on one tracker. The company’s key innovations deliver unmatched durability, flexible design capabilities, and optimal power production. Ideematec, Inc.’s parent company, IDEEMATEC, has successfully delivered some of the largest solar facilities on three continents, including Australia (349 MW), Jordan (250 MW) and Spain (200 MW), and is actively developing the largest 2P solar project in Qatar (800 MW).
About Light Edison
LightEdison is a development services provider, development capital investor and EPC contractor with a focus on clean electricity infrastructure projects, including LED lighting, solar and energy storage. We deeply understand the legal, engineering, permitting, finance, construction and operation aspects of the projects we work on, and we are also a licensed electrical contractor in the states where we operate.
About Eco Engineering
For more than 25 years, Eco Engineering has helped its customers reduce operating costs through lower energy costs while playing a part in preserving the environment for generations to come. Eco Engineering is a national design build engineering firm which specializes in providing energy efficiency and renewable energy supply services across North America. The Company has completed thousands of projects for customers such as Adidas Group, AT&T, Johnson Controls, Kroger, Performance Services, Siemens among others. Visit www.ecoengineering.com for more information
About Source Renewables
Source Renewables is a vertically integrated renewable energy company focused on the development and financing of distributed solar generation and energy storage projects throughout New York. Bolstering Source Renewables mission is its sister, Source Power Company, a regulated Energy Service Company and Distributed Energy Resource Supplier. The combined entities pair retail energy supply with customer management for community distributed generation projects. This innovative approach is disrupting the energy industry by providing cost savings to retail energy customers while enhancing returns for its development partners. Source's unique and creative solutions will help New York meet its renewable energy goals to reduce the local effects of climate change and strengthen the communities it serves.
Media:
Ashley Fallon
Antenna Group
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Tremendous Demand for Carbon Credits at Premium Pricing Signals Strong Future
TORONTO--(BUSINESS WIRE)--$NETZ #NETZ--Carbon Streaming Corporation (NEO: NETZ) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to comment on the existing carbon streaming investments in our portfolio and the strong demand and surging prices in the voluntary carbon markets for REDD+ (Reducing Emissions from Deforestation and forest Degradation) carbon credits. In addition, the Company would like to congratulate the almost 200 countries that came together for the 26th UN Climate Change Conference of the Parties (“COP26”) that reinforced a global commitment to adaptation, mitigation, finance mobility and collaboration, all key actions to address climate change.
Commercial Highlights
COP26 Highlights:
“In conjunction with global talks on climate change at COP26, significant upward momentum in prices and the exponential growth of the voluntary carbon markets, we are seeing incredibly strong interest in our portfolio of high-quality nature-based carbon offsets,” stated Justin Cochrane, Carbon Streaming’s CEO. “It’s important to remind investors that we’re expecting the issuance of up to 7 million REDD+ credits in the first half of 2022 from our current carbon credit streaming investments.”
Mr. Cochrane continued: “With current prices in the US$13-$14/credit range for REDD+ carbon credits and the strong upward pricing momentum we are seeing, Carbon Streaming expects the credits delivered under these streams to benefit from increasing price and demand which should, in turn, generate substantial cash flow to the Company and our strategic partners.”
About Carbon Streaming Corporation
Carbon Streaming is a unique ESG principled investment vehicle offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.
The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects will have significant social and economic co-benefits in addition to their carbon reduction or removal potential.
To receive corporate updates via e-mail as soon as they are published, please subscribe here.
Advisories
The links to third party websites and sources contained in this new release are provided for informational purposes and are not to be considered statements of the Company.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, ‘forward-looking information’) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements and figures with respect to the timing and estimation of future carbon credit generation from the Company’s existing investments; current and anticipated carbon prices; anticipated cash flow from the Company’s carbon stream investments; the incremental value of carbon credits with co-benefits; the expected benefits from the Article 6 agreement; and statements regarding the Company’s financial future) are forward-looking information. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general economic, market and business conditions and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of September 27, 2021 filed on SEDAR at www.sedar.com.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
ON BEHALF OF THE COMPANY:
Justin Cochrane, Chief Executive Officer
Tel: 647.846.7765
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www.carbonstreaming.com
LOS ANGELES--(BUSINESS WIRE)--$IPVF--Aspiration, the global leader in “Sustainability as a Service” solutions for consumers, companies, and governments, today announced a new partnership with Hanwha Life Insurance Company and Hanwha Solutions, two subsidiaries of Hanwha Group, to bring Aspiration’s sustainability financial solutions, ESG consulting services, global reforestation program, and verified carbon offsets to the South Korean market.
Aspiration will guide Hanwha Solutions, South Korea’s leading energy-to-material solution provider, on its journey to achieve net zero emissions by 2050. As part of this partnership, Aspiration will utilize its 5 billion-tree corporate reforestation program, with verified carbon credits, to help Hanwha sequester CO2 emissions to meaningfully reduce its carbon footprint.
Aspiration and Hanwha Life will also be working together to launch an ESG-centric blockchain ecosystem, backed by their extensive collective experience with high-quality, nature-based carbon credits and renewable energy credits, respectively, to help bring more transparency, scale, and liquidity to the voluntary carbon markets.
Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration’s existing commitments to generate social and public good and operate in a responsible and sustainable manner.
Hanwha Group is a Fortune Global 500 company with over 50,000 employees worldwide and more than $55.6 billion in annual revenue. As Korea’s premier life insurance company and ESG institutional investor, Hanwha Life is actively embracing digital transformation with the aim of becoming a leading provider of digital financial services. Hanwha Solutions, one of the world’s leading total energy solutions companies, delivers a broad range of sustainable solutions through technology and innovation in their chemical, solar energy, advanced materials, and high-tech city development businesses.
“We are humbled to be trusted by such a storied and respected corporate leader in South Korea,” said Andrei Cherny, Aspiration CEO and co-founder. “Hanwha is setting a powerful global example around its commitment to ESG and genuine sustainability, and Aspiration couldn’t be more excited to build upon our international footprint with this new partnership with Hanwha.”
Earlier this year, Aspiration opened an office in South Korea, in Yeouido, Seoul’s main financial and banking district. Over the past year, Aspiration has accelerated the pace of its own enterprise commitment to plant 100 million trees by 2030 -- and coupled with the current speed at which it is planting on behalf of its individual and business customers -- Aspiration is now one of the largest corporate sponsors of reforestation in the world.
About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 5 million members by helping them spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business. Still and video media assets can be found at https://tinyurl.com/56u3yu3z.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including: former Bank One Chairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.
About Hanwha Life Insurance Company
Hanwha Life is South Korea's second largest life insurance company with total reported assets of $116.73 billion. In addition to its prowess in traditional financial services, Hanwha Life is actively embracing digital transformation with the aim of becoming a leading provider of digital financial services in the Asian market. Hanwha Life is also an ESG institutional investor. For more information, visit www.hanwhalife.com/en/.
About Hanwha Solutions Corporation
Hanwha Solutions is South Korea’s leading energy-to-material company aiming to deliver sustainable solutions for the planet. Its key areas of business include chemical, solar energy, advanced materials, and high-tech city development. With its innovative technology for sustainable growth, Hanwha Solutions strives to become a global leader in providing a better future for humanity. For more information, visit www.hanwhasolutions.com/en/.
Aspiration Public Relations
Sehrish Sayani
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Aspiration Investor Relations
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InterPrivate III Financial Partners Inc. Investor Relations
Charlotte Luer
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Hanwha Life Insurance Company Public Relations
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» Nouveau Monde’s phase-1 Bécancour purification facility has produced battery-grade SPG demonstrating the performance of its proprietary ecotechnology with large scale samples produced at 99.99% purity
» Construction of phase-1 coating line is progressing on time and on budget with a commissioning start scheduled during Q1-2022
» Civil works are progressing at the phase-2 large scale Matawinie mining project with the 7.8 km access road that will be substantially completed before year end and civil works on the industrial platform advancing on budget and on time to support the advancement of detailed engineering with consultant SNC-Lavalin
» Nouveau Monde’s integrated business model will be reflected in the ongoing 43-101 feasibility study being prepared by BBA for the phase-2 Bécancour battery material plant to update planning, cost projection, and development framework in a unified structure with the Matawinie mining project
» Commercial discussions are progressing well as a result of the availability of battery-grade samples, Nouveau Monde’s active engagement, and favorable market trends
» Nouveau Monde will be present at the EU Battery Show to promote its green anode material and help European lithium-ion battery manufacturers secure their supply
» Committed to industry-leading sustainability principles, Nouveau Monde released its inaugural ESG Report providing shareholders, potential customers, and stakeholders with performance overview as per international standards
MONTRÉAL--(BUSINESS WIRE)--$NMG #EV--Nouveau Monde Graphite Inc. (“Nouveau Monde” or the “Company”) (NYSE: NMG, TSXV: NOU) is making steady progress along its critical path to develop its fully vertically integrated value chain of anode material, from ore to battery materials, leveraging its Matawinie graphite deposit, proprietary green beneficiation technologies, access to robust infrastructure and clean hydropower, as well as an excellent location at the doorstep of North American and European markets.
Arne H Frandsen, Chairman of Nouveau Monde, commented: “Nouveau Monde’s disciplined advancement is ideally timed to address the marketplace’s ever-growing demand and capitalize on commitments, regulation, and private capital that are being channeled to attain the Paris Agreement objectives. I am confident that we are delivering an excellent balance in terms of competitiveness, sustainability, and business growth to position the Company as a turn-key solution provider to the electric vehicles (“EVs”) and energy storage sectors.”
Battery-Grade Anode Material
Nouveau Monde completed construction of the phase-1 Bécancour purification facility on budget and with limited timeline impact following delays in equipment deliveries. In the final stages of commissioning, the Company has produced batches that demonstrate the performance of Nouveau Monde’s proprietary ecotechnology and the high battery-grade quality of spherical purified graphite (“SPG”).
The material has been tested at Nouveau Monde’s new state-of-the-art laboratory and a third-party mineral R&D center, confirming purity of +99.99%, well above the level required for energy applications. Loss on ignition (“LOI”) was carried out based on ASTM standard test method C561–16, and ICP analysis of critical elements like iron and nickel showed results at below 1 ppm.
The Company has submitted a patent application to safeguard its intellectual property rights in regard to this thermochemical purification technology, a greener alternative, free of hydrofluoric acid, to that currently used in the traditional anode material production.
Preparation is underway at the Company’s demonstration plant to double its phase-1 shaping production and build a phase-1 coating module. Both beneficiation units are scheduled for construction and commissioning in H1-2022 to provide Nouveau Monde’s sales team with up to 2,000 tpa of anode material to support production qualification and commercial discussions with battery and EVs manufacturers.
In addition, Nouveau Monde continues the FEL-3 feasibility study for the large scale phase 2 Bécancour battery material plant regrouping operations of all processing steps. Considering the Company’s development of advanced manufacturing of anode material to cater to the accelerating lithium-ion batteries market (see the “Escalating Market Trends” section below), the study will 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. Upon completion of the study, Nouveau Monde intends to transition to the execution phase and to sequence construction timelines of the phase-2 mine and battery material plant.
Civil Works at Matawinie Mining Project
Construction of the Matawinie mining project’s nearly 8-km access road is on time and on budget, with works completed at 70%. Civil works for the industrial platform has started and will continue in 2022. In parallel, concentrator and building engineering for process, electrical, structural, piping, and layout are finalized to prepare the plans and specifications. The tailings deposition plan, water management infrastructure and mining equipment selection are progressing ahead of the next stages of preparatory work.
In parallel, Nouveau Monde and Caterpillar’s technical teams are collaborating to plan the development, testing, and deployment of Cat® zero-emission machines for the all-electric mining fleet.
Continued Sales Engagement
In its efforts to negotiate a long-term cornerstone supply agreement, the Company is thus far engaged in commercial discussions and/or has signed MoUs and NDAs with manufacturers whose total projected yearly production capacity represent over 1 TWh by 2030, that would correspondingly require over 1 million tonnes per annum of battery-grade graphite. Nouveau Monde’s phase-1 operations support technical marketing and product qualification efforts thanks to samples provided to potential customers as part of these discussions.
Nouveau Monde recently joined the marketplace at North America’s largest and most comprehensive advanced battery manufacturing event, The Battery Show. The Company will be present at the upcoming European edition, in Germany, scheduled November 30 to December 2, 2021, to position its ex-China green supply of anode material in this booming market. Nouveau Monde will present the latest results of its hydrofluoric acid-free purified anode material as well as the latest electrochemical test results on its graphite at its booth #232 (hall 8). Nouveau Monde is striving to provide solutions to the European lithium-ion battery market looking for security of supply, guaranteed material traceability, competitive pricing, and low CO2 footprint anode material. Visitors can organize a meeting by contacting Jean-Luc Cialdini, Business Development Director for Europe, at This email address is being protected from spambots. You need JavaScript enabled to view it..
Corporate Development & Sustainability
Committed to its zero-harm philosophy, Nouveau Monde maintains the focus on environmental, health, and safety performance at its operational sites, with special attention to the start of civil works at the Matawinie mining project and the commissioning of the phase-1 Bécancour purification facility.
As sustainable funds saw their combined assets climb to $3.9 trillion at the end of Q3-2021 (Morningstar, October 2021), Nouveau Monde published its inaugural Environmental, Social and Governance (“ESG”) Report to provide an overview of Nouveau Monde’s core commitments, anchor initiatives, and performance indicators to shareholders and asset managers.
Eric Desaulniers, Founder, President, and CEO of Nouveau Monde, added: “We are developing our carbon-neutral operations on a foundation of transparency and superior environmental, social, and governance standards. We believe consumers and manufacturers alike are seeking high-performing solutions that are extracted and transformed responsibly. Nouveau Monde’s strong commitment in this regard, from inception, represents a vantage for engagement with communities, governments, capital markets, and customers.”
At September 30, 2021, the Company had more than $81M CA in cash, which is sufficient to support its current operations and the advancement of its key projects.
Escalating Market Trends
Scientists and the international community are increasingly aligning efforts and funds to transition to net zero by 2050 in order to mitigate the effects of the climate crisis. The push for electrification as part of decarbonization goals translate into favorable market conditions for Nouveau Monde’s carbon-neutral anode material.
Demand outlook for anode manufacturing is mounting to meet the projected 4,625 GWh of global lithium-ion battery production capacity in the pipeline by 2030, a 13% increase since the end of Q2-2021 (Benchmark Mineral Intelligence, October 2021). October announcements from battery manufacturers totaled 430,000 tpa of new anode production capacity, elevating the global projection to 5,030,700 tpa.
Representing +95% of the anode, graphite is the most controlled mineral of all battery materials, with China currently producing 100% of the global spherical graphite supply. Graphite prices continue to rise as a result of energy shortages in some Chinese provinces and major logistics disruptions (Roskill, October 2021). These price increases are a reminder of the importance of establishing strong partnerships with reliable and local suppliers such as Nouveau Monde to mitigate that risk.
Projected to be the largest and most advanced natural graphite operation in North America, Nouveau Monde is carrying out its de-risked phased development plan to build a localized, turn-key, and carbon-neutral alternative to Chinese supply.
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 progress of the Company’s projects within budget, the feasibility study of the phase-2 Bécancour battery material plant, including the Company’s integrated business model, the progress of commercial discussions, including the entering into a cornerstone supply agreement, market trends and conditions, the Company’s presence at the EU Battery Show, demand outlook for anode manufacturing, the efforts of different sectors to achieve the Paris Agreement’s goals and net-zero, the doubling of the phase-1 shaping production and the construction of the phase-1 coating module, the timeline and the expected output regarding same, the update of the 43-101 feasibility study and the steps that follow its completion, the electrification of the mining pit, the total projected yearly production capacity of potential business partners, the solutions the Company can provide to the European lithium-ion battery market, the Company’s commitments towards ESG principles, the Company’s forecast to become the largest and most advanced natural graphite operation in North America, 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
VP Communications & ESG Strategy
+1-450-757-8905 #140
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SAN ANTONIO--(BUSINESS WIRE)--Ironwood Midstream Energy Partners II, LLC (Ironwood II) today announced it has significantly expanded its crude oil midstream footprint in the Eagle Ford Shale as a result of an asset combination with Nuevo Midstream Dos (Nuevo). Ironwood II and Nuevo are both financially backed by EnCap Flatrock Midstream.
The Ironwood II leadership team has assumed management of the Nuevo assets including approximately 100 miles of crude oil gathering pipeline in Lavaca, Gonzalez, and Fayette counties that feed the Lavaca Terminal, which consists of 300,000 barrels of crude oil storage and a six-bay truck station. The system also includes a 26-mile intermediate pipeline that moves volumes from the terminal to third-party transportation pipelines with access to refineries, petrochemical plants and export terminals on the Texas Gulf Coast.
From the Ironwood II CEO
“This strategic combination marks an important step for Ironwood as we continue to expand our midstream infrastructure for Eagle Ford producers, offering safe, consistent and competitive access to premium and growing export and industrial markets along the Texas Gulf Coast,” said Ironwood Chairman, President and CEO Mike Williams. “We are also extremely fortunate to have Randy Ziebarth join our board as part of this merger. The Nuevo team has built an excellent system and we look forward to continuing to operate it with integrity and reliability.”
From Encap Flatrock Midstream
"We are excited about the consolidation of these complementary Eagle Ford assets as it further positions them for growth and value creation," said EnCap Flatrock Managing Partner Bill Waldrip. "The Nuevo team has a strong track record and EFM has enjoyed a long and successful partnership together. The team has built highly valuable relationships in the Eagle Ford and has done an excellent job commercializing these assets. I've personally known Mike and Randy for a very long time, and their collective skill sets, and deep roots and relationships will serve this combined platform well."
Increased Footprint Details
As a result of the combination, Ironwood II now operates approximately 400,000 barrels per day (bpd) of crude oil throughput capacity and 410 million cubic feet per day (MMcf/d) of natural gas throughput capacity in the Eagle Ford region. The company operates 390 miles of crude oil and natural gas pipelines with 245,000 dedicated net acres.
Ironwood II’s strategic footprint in the Eagle Ford provides multiple connections to long-haul pipelines and premium access to key Gulf Coast markets. Crude oil interconnects include Plains All American Pipeline, Harvest Pipeline Company, NuStar Logistics L.P., EPIC Crude Oil Pipeline, Kinder Morgan, Gray Oak Pipeline, Flint Hills Resources, The San Antonio Refinery and Enterprise Products Pipeline. Natural Gas interconnects include DCP Midstream, Energy Transfer and Enterprise.
In the Permian Basin, Ironwood operates a crude oil gathering system in Midland County with 40,000 bpd of throughput capacity that delivers to Centurion Pipeline.
Advisers
Mayer Brown acted as the legal counsel to Ironwood II. Locke Lord and Shearman & Sterling acted as legal advisers for Nuevo and Encap Flatrock Midstream, respectively.
About Ironwood Midstream II:
Ironwood Midstream Energy Partners II is an independent energy company that provides a full suite of midstream services to oil and natural gas producers across North America. Headquartered in San Antonio, Ironwood II operates approximately 390 miles of crude oil and natural gas pipelines with approximately 245,000 dedicated net acres. The Company is led by a team of seasoned industry professionals and is backed by EnCap Flatrock Midstream. For more information, visit www.ironwoodmidstream.com.
About EnCap Flatrock Midstream:
EnCap Flatrock Midstream provides value-added growth capital to proven management teams focused on midstream infrastructure opportunities across North America. The firm was formed in 2008 by a partnership between EnCap Investments L.P. and Flatrock Energy Advisors, LLC. Based in San Antonio with offices in Oklahoma City and Houston, the firm manages investment commitments of nearly $9 billion from a broad group of prestigious institutional investors. EnCap Flatrock Midstream is currently making commitments to new management teams from EFM Fund IV, a $3.25 billion fund. For more information, please visit www.efmidstream.com.
Meredith Hargrove Howard
Redbird Communications Group
210-737-4478
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) announced today it will host investor meetings at the RBC Capital Markets Midstream and Energy Infrastructure Conference on Wednesday, November 17, 2021 in Dallas, Texas.
A copy of the slides used in the meetings will be available at 8:00 a.m. ET Wednesday, November 17 and may be accessed under the Investors tab on the Enterprise website.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations, (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
aspenONE® V12.2 includes new models to help customers identify how to reduce emissions, capture carbon and enable recycling efficiencies across their entire value chain
BEDFORD, Mass.--(BUSINESS WIRE)--Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, today announced the availability of the newest aspenONE® V12 software release. The release, V12.2, gives companies new sustainability models and product capabilities that accelerate digitalization efforts in support of their sustainability initiatives.
The aspenONE® V12 solutions now include more than 50 models, including many that provide insight into where operational efficiencies can be improved upon in support of Scope 1 and 2 CO2 emission reduction targets. Using these models, customers can identify how to reduce emissions across the entire value chain; reduce usage of energy, water and feedstocks; transition to new energy sources like biofuels and hydrogen; and enable the circular economy through processes such as plastics recycling and waste-to-chemicals.
“Meeting CO2 emission reduction milestones in the quest to become carbon neutral requires companies to capture operational efficiencies by leveraging and deploying digital capabilities that deliver the insights needed to quickly and easily make adjustments to stay on track,” said David Arbeitel, Senior Vice President of Product Management at AspenTech. “The new release also provides a wide range of usability enhancements across our product portfolio to deliver faster time-to-value and drive high value business outcomes.”
According to Peter Reynolds, Principal Analyst, ARC Advisory Group, “AspenTech’s new release shows a commitment to innovation with new software to jumpstart customers’ sustainability programs. By building sustainability into existing software and adding a multitude of new sample models, AspenTech is demonstrating industry leadership in helping customers address material recycling, emissions reduction, hydrogen, carbon capture, and bio-based feedstocks.”
In addition to sustainability models, the new release includes a range of product enhancements and capabilities designed to provide intuitive usability, faster time-to-value and collaboration across the value chain. These include:
The newest release of aspenONE® V12 software is currently available. To learn more, visit our release page.
About Aspen Technology
Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.
© 2021 Aspen Technology, Inc. AspenTech, aspenONE®, the Aspen leaf logo, Aspen GDOT™, and Aspen Unscrambler™ are trademarks of Aspen Technology, Inc. All rights reserved.
Len Dieterle
Aspen Technology
+1 781-221-4291
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LOVELAND, Colo.--(BUSINESS WIRE)--$ZEV #LAcounty--Lightning eMotors (NYSE: ZEV), a leading provider of all-electric powertrains and medium-duty and specialty commercial electric fleet vehicles, announced an agreement with on-demand transit industry leader RideCo to provide zero-emission passenger vans for the Los Angeles County Metropolitan Transportation Authority (Metro).
Under the agreement, Lightning eMotors will serve as the preferred zero-emission vehicle vendor for RideCo as it manages a fleet of vehicles for Metro Micro, a pilot program designed to provide fast and convenient rides within the service zones in Los Angeles County. Lightning eMotors will initially supply RideCo with 10 all-electric passenger vans. Several of those vehicles have already been delivered, and RideCo anticipates that all 10 will be transporting passengers around Los Angeles County by early next year.
“From the outset, our goal was to introduce zero-emission vehicles into our fleet. After evaluating several potential vendors, Lightning eMotors emerged as a clear choice,” said RideCo CEO Prem Gururajan. “We are excited to work with Lightning eMotors to deliver this innovative microtransit service in Los Angeles County.”
“Metro is one of the largest and most sophisticated transportation agencies in the nation. We are proud to provide these vans to RideCo as part of Metro’s long-term goals to transition to zero-emission transit vehicles,” said Lightning eMotors CEO Tim Reeser. “We are also grateful to RideCo, an industry leader and pioneer in on-demand transit technology and ridesharing for the public, for selecting Lightning eMotors as its preferred vendor.”
In December 2020, Metro launched Metro Micro – a state-of-the-art 100-vehicle on-demand microtransit service – to connect Angelenos in outlying areas and traditionally underserved communities with existing fixed-route bus and train network as well as accommodate short trips in the service zones. This project is currently piloting in seven zones across Los Angeles County, with one more service zone planned in December 2021.
Lightning eMotors’ vans are designed with 86 kWh of battery capacity which can transport nine passengers and the driver with plenty of cargo space for a range of approximately 120 miles. Additionally, Lightning eMotors is providing the charging infrastructure to support the test fleet via its Lightning Energy division.
ABOUT RIDECO
RideCo is an industry leader in on-demand transit technology, enabling on-demand ridesharing for public transit riders around the globe. We partner with transit agencies, municipalities, and experienced local fleet operators to design and operate on-demand transit services. Our solutions reduce travel time, decrease walking distance, and increase service frequency for riders while lowering transit agencies’ cost-per-ride, reducing demand for parking, and attracting net new riders to transit systems. Visit https://rideco.com/ to learn more about how our proprietary cloud-based platform can revolutionize mobility in your city.
ABOUT LIGHTNING eMOTORS
Lightning eMotors (NYSE: ZEV) has been providing specialized and sustainable fleet solutions since 2009, deploying complete zero-emission-vehicle (ZEV) solutions for commercial fleets since 2018 – including Class 3 cargo and passenger vans, ambulances, Class 4 and 5 cargo vans and shuttle buses, Class 4 Type A school buses, Class 6 work trucks, Class 7 city buses, and Class A motor coaches. The Lightning eMotors’ team designs, engineers, customizes, and manufactures zero-emission vehicles to support the wide array of fleet customer needs with a full suite of control software, telematics, analytics, and charging solutions to simplify the buying and ownership experience and maximize uptime and energy efficiency. To learn more, visit https://lightningemotors.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Such forward-looking statements include, but are not limited to, statements regarding the anticipated launch for RideCo/Metro, whether the increase in purchase will be sustainable or the catalyst for other public entities to accelerate their adoption of commercial electric vehicles, the potential impact on Lightning eMotors’ costs and demand for its products, the expected delivery date for the new electric commercial vehicles, and statements regarding Lightning eMotors product and customer developments, its expectations, hopes, beliefs, intentions, plans, prospects or strategies regarding the future revenues and expenses and the business plans of Lightning eMotors’ management team. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of Lightning eMotors in light of their respective experience and perception of historical trends, current conditions and expected future developments and their potential effects on Lightning eMotors as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting Lightning eMotors will be those anticipated. These forward-looking statements contained in this press release are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and other factors include, but are not limited to: (i) the actual number of zero-emission commercial trucks and chargers purchased pursuant to the agreement and the actual revenue generated thereunder; (ii) those related to our operations and business and financial performance; (iii) our ability to deliver the products and services under the agreement on the expected timetable; (iv) the success of our customers’ development programs which will drive future revenues; (v) our ability to execute on our business strategy and grow demand for our products and our revenue; (vi) the potential impact on our costs; (vii) the potential severity, magnitude and duration of the COVID-19 pandemic as it affects our business operations, global supply chains, financial results and position and on the U.S. and global economy; (viii) current market conditions and federal, state, and local laws, regulations and government incentives, particularly those related to the commercial electric vehicle market; (ix) the size and growth of the markets in which we operate; (x) the mix of products utilized by the Company’s customers and such customers’ needs for these products; and (xi) market acceptance of new product offerings and whether this will be a catalyst for others to purchase electric vehicles. Moreover, we operate in a competitive and rapidly changing environment, and new risks may emerge from time to time. You should not put undue reliance on any forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Media and Investor Relations
Nick Bettis
(800) 223-0740
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Annual Study Shows Strong and Growing Support for Nuclear Over Four Consecutive Years
WASHINGTON--(BUSINESS WIRE)--As the climate crisis intensifies, the race to adopt clean, sustainable sources of energy is on. But how have American attitudes to nuclear power changed? Would Americans be enthusiastic about updating nuclear power? To answer these questions, ecoAmerica conducted its fourth consecutive American Climate Perspectives Survey to study awareness and attitudes about utility energy choices and their impact on health and climate. The full report can be found here.
The survey shows that 59 percent of Americans “totally support” existing nuclear energy and recognize that it produces around 20 percent of our electricity. Fifty-seven percent of Americans say the U.S. should be spending “more” or “a lot more” to develop next-generation nuclear energy. Support is high regardless of political affiliation, with 64 percent of Republicans and 60 percent of Democrats supporting nuclear power. This support has grown, driven by a notable rise in Democratic support (up from 56 percent in 2020 and 37 percent in 2018).
Seventy-one percent of people in the U.S. credit nuclear power plants with generating a lot of electricity, reliably, and 65 percent say that nuclear power plants keep America competitive and energy independent. Most Americans (67 percent) want to keep nuclear power plants running as long as they are cost effective, up from 62 percent in 2020.
The most important reason for supporting nuclear energy? According to 69 percent of Americans, it helps us grow the economy while reducing pollution to our climate and health. Americans (67 percent) also support nuclear energy because nuclear power plants do not emit pollutants that harm our health or our climate compared to alternatives.
When defined as a new technology that is inexpensive, produces little waste, and is fail-safe so human errors can’t cause widespread damage, 74 percent of Americans indicated they would support “new” nuclear power such as molten salt fueled reactors. Among those who do not support nuclear power, 18 percent indicated they would shift their opinion to support it after learning that we can clean up unhealthy pollution and make the climate stable by modernizing nuclear power.
“Nuclear energy is absolutely critical to keeping energy reliable while affordably reducing emissions,” said Eric Meyer, founder and executive director of Generation Atomic, an advocacy group. “A growing majority of Americans are realizing this, and politicians on both the federal and state levels are taking notice. We saw it earlier this year in Illinois, where a coalition of organized labor and nuclear advocates persuaded a Democratically held legislature to save two save two nuclear power plants from early shutdown due to market failures. At the federal level, both existing and next generation nuclear plants are included in major infrastructure and climate packages. These are just a few examples of us getting on the right path to a cleaner, more sustainable future.”
About Generation Atomic
Generation Atomic is a 501(c)3 non-profit organization that is growing a movement to fight for the atomic energy of today and tomorrow. Since 2017 they’ve reached millions of people over social media and empowered thousands to contact their elected officials in support of protecting today’s reactors from early shutdown and laying the groundwork for the next generation of low carbon, environmentally friendly energy. Learn more and take action at GenerationAtomic.Org.
Marie Domingo
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