REDWOOD CITY, Calif.--(BUSINESS WIRE)--#UEPower--ENEOS Holdings, Inc. (“ENEOS”) and Nippon Sheet Glass Co., Ltd. (“NSG”) have begun Japan's first installation of transparent solar panels for use as building windows. The transparent solar windows were developed and fabricated by Ubiquitous Energy, and installed at NSG’s facility in Japan with funding support provided by ENEOS.
The purpose of the installation is to verify the energy savings performance (heat blocking and insulation) and power generation capabilities of Ubiquitous Energy’s transparent solar windows under Japan's sunlight and weather conditions. ENEOS and NSG will perform quantitative evaluation together at NSG's Chiba Plant over a one year period (from September 1, 2021, to August 31, 2022). The companies are considering performing additional installations in buildings and the potential to connect them to solar power generation systems with a view to providing power in the future.
Ubiquitous Energy’s transparent photovoltaic coating, UE Power™, developed over a decade with the glass industry after being invented at MIT, generates electricity from non-visible light while looking virtually invisible. The UE Power™ coating generates electricity on the full surface of the window glass without patterns, borders or color tints. The electricity gets collected and transmitted through wiring built discreetly into the window frame, and it can then be fed into the building to power a variety of products or increase the overall energy efficiency of the building. UE Power™ windows can be installed in buildings such as high-rise buildings, which eliminates the need to secure large areas of land for installation and makes it possible to generate more power on small building lots than horizontally-installed solar panels.
By leveraging the power business and renewable energy business know-how of ENEOS and the knowledge gained through the joint development of solar power generation glass by NSG and Ubiquitous Energy, this initiative aims to create and commercialize a new way of generating solar power.
About Ubiquitous Energy
Founded in 2011, Ubiquitous Energy was started by a group of MIT and MSU scientists and engineers looking for new ways to reduce humanity’s carbon footprint by seamlessly integrating solar power technology into everyday products and surfaces. Ubiquitous Energy has the world’s leading transparent solar technology – the conversion of light into electricity using semiconducting materials all while maintaining visible transparency. To both residential and commercial building occupants, Ubiquitous Energy’s solar windows provide a clear, vibrant experience that is expected from traditional Low-E windows, but with self-contained, on-board power and smart functionality. For more information please visit us at https://ubiquitous.energy/ or connect with us via Linkedin.
Jenna Guarneri
JMG Public Relations
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HOUSTON--(BUSINESS WIRE)--Crescent Pass Energy, LLC (Crescent Pass) announced today that it has closed on the acquisition of producing assets in the northern area of the Eagle Ford play from Tulsa based Armor Energy LLC, as well as three bolt-on acquisitions in the Cotton Valley trend in East Texas. These transactions increase the corporate footprint to 974 operated wells and net production to approximately 6,400 barrels of oil equivalent per day (BOEPD), evenly weighted between oil and natural gas. The assets are supported by more than 140,000 net held-by-production (HBP) acres in various counties across Texas and Louisiana. In 2021 to date, Crescent Pass has deployed approximately $85 million on acquisitions, with substantial remaining equity capital reserved for future opportunities.
“We are pleased to have closed on our first Eagle Ford acquisition and look forward to continuing to expand our footprint of high-quality producing assets, both along this trend and across the Lower 48,” said Tyler Fenley, Crescent Pass Chief Executive Officer. “This transaction reinforces our asset-focused strategy which, along with our conservative approach to leverage and hedging, allows us to remain flexible and execute on our broader strategic growth objectives.”
Andrew Heyman, Partner at Talara Capital Management commented, “Crescent Pass continues to make accretive acquisitions and improve the existing asset base. This team is at the cutting edge of applying the latest technologies related to revenue enhancements, cost reductions, and ESG matters. We expect to continue working closely with Crescent Pass to source assets and execute on the business plan in an environmentally responsible manner.”
About Crescent Pass
Houston-based Crescent Pass is a private exploration and production company financially partnered with Talara Capital Management. Crescent Pass acquires, integrates, and optimizes PDP-weighted assets throughout the United States. This systematic approach generates superior returns through immediate free cash flow generation, low declines and operational synergies across our diversified asset base. For more information, please visit our website www.crescentpass.com.
Meggan Morrison
Redbird Communications Group
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Seguridad primero. 安全第一
SAN FRANCISCO--(BUSINESS WIRE)--The primary language Californians speak and read should not be an obstacle when accessing emergency preparedness resources. During Hispanic Heritage Month, PG&E is rolling out new features on its Safety Action Center website with safety information in both Spanish and Chinese. September is also National Preparedness Month, and it is important that all Californians are prepared for emergencies and natural disasters.
With over 2 million site visits, The Safety Action Center is an online preparedness resource helping our customers keep their families, homes, and businesses safe during natural disasters and other emergencies. The site includes tips on how to create a personalized emergency plan, what to pack in an emergency supply kit, and how to prepare in advance for power outages and Public Safety Power Shutoffs.
Other popular safety modules are:
To learn more about emergency preparedness tips, please visit the Safety Action Center (safetyactioncenter.pge.com).
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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Ordinances Align with Operational Plans of Piedmont Lithium’s proposed Carolina Lithium Project
BELMONT, N.C.--(BUSINESS WIRE)--Piedmont Lithium Inc. (Nasdaq: PLL; ASX: PLL), a leading developer of lithium hydroxide production to enable the North American electric vehicle supply chain, today responded to new quarry and mining ordinances approved by the Gaston County Board of Commissioners. The ordinances are not specific to Piedmont Lithium’s proposed project but consider all quarry and mining operations in the County as part of a more comprehensive update of Gaston County’s Unified Development Ordinance.
“The new ordinances enacted by Gaston County’s Board of Commissioners are in the best interests of Gaston County’s citizens and its environment, and we appreciate the guidance and clarity the ordinances provide,” said Piedmont President and CEO, Keith Phillips. “We believe the safety and environmental standards currently outlined in our proposed Carolina Lithium Project will meet or exceed the standards set in the newly passed regulations, which align with Piedmont Lithium’s core values and initiatives for sustainable social and environmental practices.”
The Company will continue working with the Gaston County Board of Commissioners for potential future rezoning and with the State of North Carolina regarding Piedmont Lithium’s State Mining Permit application, which was submitted on August 31, 2021.
“We welcome the Commission’s request for a public hearing regarding our State Mining Permit application, and we have also, in fact, formally requested a public hearing ourselves,” said Phillips. “These hearings are common in such permit application proceedings and provide another opportunity for us to receive feedback regarding our Carolina Lithium Project application from the County and members of the community.”
About Piedmont Lithium
Piedmont Lithium is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and creation of a clean energy economy in North America. The centerpiece of our operations, the Carolina Lithium Project, is located in the renowned Carolina Tin-Spodumene Belt of North Carolina, and when combined with equally strategic and in-demand mineral resources from our long-term supply contracts and equity investments in lithium-based assets in Quebec and Ghana, positions us to be one of the largest, lowest cost, most sustainable producers of battery-grade lithium hydroxide in the world. We will also be strategically located to best serve the fast-growing North American and European electric vehicle and battery storage supply chains. The unique geology, geography and proximity of our resources, future production operations and customer base, will allow us to deliver a valuable continuity of supply of high-quality, sustainably produced lithium hydroxide from spodumene concentrate, preferred by most electric vehicle manufacturers. Our planned diversified operations should enable us to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. As a member of the International Responsible Mining Association and the Zero Emissions Transportation Association, we are committed to protecting and preserving our planet for future generations, and to making economic and social contributions to the communities we serve. For more information, www.piedmontlithium.com.
Keith Phillips
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AMES, Iowa--(BUSINESS WIRE)--$REGI #biodiesel--Renewable Energy Group, Inc. (REG) (NASDAQ: REGI) today announced the closing of its 35 million gallon per year nameplate capacity facility located near Houston, Texas.
The company acquired and commissioned the plant in 2008 and has been operating it since.
“We have made the decision not to renew the lease for our REG Houston biorefinery, which would have imposed an uncompetitive fixed cost on the plant,” said REG President & CEO Cynthia ‘CJ’ Warner. “The plant has run very well but has always been relatively challenged due to its leasing agreement coupled with a lack of REG’s hallmark multi-feedstock processing capability.”
The company is currently working with plant employees on relocation opportunities within the production network. The company will completely shut down the Houston plant in November 2021.
“It is never an easy decision to shut down a plant. We greatly appreciate the team at REG Houston for their dedication to safety and operational excellence,” said Warner. “Within our larger system, we remain focused on executing our growth strategy and we will continue to work with our existing customers and vendors to provide clean fuel solutions that are delivering meaningful carbon reduction today.”
About Renewable Energy Group
Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by transforming renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the expected timing and success of the closure of our Houston facility and our ability to execute on our growth strategy. These forward-looking statements are based on current expectations and assumptions and are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, our ability to successfully close the Houston facility and other risks described in REG's annual report on Form 10-K for the year ended December 31, 2020, quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, and from time to time in REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and we do not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Katie Stanley
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- KKR-sponsored Virescent sets up India’s first renewable-focused infrastructure investment trust
- Raises INR4.6 billion (~US$62 million) from AIMCo and other investors
- First renewable energy platform in India to have dual ‘AAA’ credit rating
- Advanced discussions for potential acquisition of 55 MWp from Focal Energy
MUMBAI--(BUSINESS WIRE)--Virescent Infrastructure (“Virescent”), a leading Indian renewable energy platform sponsored by global investment firm KKR, has set up India’s first renewable energy infrastructure investment trust (“InvIT”), Virescent Renewable Energy Trust (“VRET”). VRET has raised INR4.6 billion (US$62 million) from a group of foreign and domestic investors. Leading the transaction, on behalf of its clients, is Alberta Investment Management Corporation (“AIMCo”), one of Canada’s largest institutional investment managers.
KKR set up Virescent in October 2020 to acquire operating renewable energy assets in India. This comes at a time where renewables is set to play an increasingly critical role in powering India’s energy needs and estimated to make up 60% of India’s installed power capacity by 2030. KKR invests in VRET from its Asia Pacific Infrastructure Investors Fund.
VRET’s initial portfolio comprises of nine operational solar projects, with an aggregated capacity of approximately 395 MWp. The assets are located in Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat and Rajasthan. In addition, subject to applicable approvals, VRET is in advanced discussions to acquire 55MWp portfolio from Focal Energy.
VRET has been assigned a ‘AAA/Stable’ rating for its loan facilities from CRISIL and India Ratings, S&P and Fitch’s India affiliates, respectively. VRET is the only Indian renewable energy InvIT and among a few infrastructure companies to have been assigned this highest ‘AAA’ rating, reinforcing its healthy cash flow prospects owing to long-term power purchase agreements at pre-determined tariffs, its track-record of enhanced generation capabilities, a healthy financial risk profile and low leverage supported by adequate liquidity. The ‘AAA’ rating considers the portfolio to grow up to 2 GWp over the next two to three years.
Sanjay Grewal, CEO, Virescent Infrastructure, said, “This incredible achievement is an important milestone in Virescent’s journey. VRET is India’s first renewable energy focused InvIT and one of the few entities in the infrastructure sector to get the highest ‘AAA’ rating from two rating agencies, CRISIL and India Ratings. We look forward to drawing on the global investment management expertise of our investors as we continue to acquire high-quality assets for achieving our initial growth targets. Our endeavour is to support the Government in achieving its medium and long term renewable energy objectives of 175 GW and 450 GW respectively.”
Hardik Shah, Managing Director, KKR Infrastructure, said, “Virescent continues to be an important part of our infrastructure strategy in Asia Pacific and how we contribute purposefully to India’s ambitious targets in the renewables sector. Investing in VRET alongside AIMCo and other institutional investors will help us to capitalise on this huge market opportunity. We will continue to support Virescent and its management team in providing greater renewable energy solutions to communities across India.”
Ahmed Mubashir, Director, Infrastructure & Renewable Resources at AIMCo, said, “AIMCo is excited to expand its geographic footprint in Asia through its investment in India’s first renewable energy InvIT. VRET’s portfolio of operating renewable energy assets whose economics are underpinned by long-term power purchase agreements are well aligned with our clients’ investment objectives. We look forward to partnering with KKR and Virescent to further grow the platform and provide renewable energy solutions to India in the coming years.”
Axis Capital acted as the lead manager to the issue. Shardul Amarchand and E&Y acted as the legal advisors and tax advisors, respectively to the issue.
****
About Virescent
Virescent Renewable Energy Trust is an infrastructure investment trust (InvIT) established as a trust under the Indian Trusts Act, 1882 with the objective of undertaking investment activities as an InvIT in accordance with the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.
Virescent Infrastructure Investment Manager Private Limited is a private limited company incorporated under the provisions of Companies Act, 2013 and will act as the investment manager of Virescent Renewable Energy Trust. Headquartered in Mumbai, Virescent will expand its diversified portfolio of operational renewable energy assets by identifying investment opportunities that have stable cash flows stemming from long-term contracts with state and central government counterparties across India.
About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, credit and real assets, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About Alberta Investment Management Corporation (AIMCo)
Alberta Investment Management Corporation, AIMCo, is one of Canada's largest and most diversified institutional investment managers with more than CAD $123 billion of assets under management, as at June 30, 2021. AIMCo invests globally on behalf of 32 pension, endowment and government funds in the Province of Alberta.
The AIMCo Infrastructure group manages a portfolio of over CAD $9.6 billion in investments, comprised primarily of long-term equity positions in OECD-based infrastructure assets. These assets typically provide essential services to the public, have an operating history, and are either regulated or have highly contracted revenues with the potential for long-term capital appreciation. AIMCo infrastructure investments are intended to match long duration real return asset characteristics with inflation-indexed pension liabilities.
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After successful financial close, HDF Energy starts construction of CEOG (French Guiana), the world’s first baseload renewable energy power plant using hydrogen technology
BORDEAUX, France--(BUSINESS WIRE)--HDF Energy (mnemonic code: HDF) and its equity partners, the infrastructure fund Meridiam and the petroleum operator SARA (Rubis Group) today announced the start of the construction of CEOG Renewstable® Power Plant in French Guiana. CEOG is the world’s first multi-megawatt hydrogen power plant, and the largest green hydrogen storage of intermittent electricity sources (128MWh).
Damien HAVARD, CEO of HDF Energy said: “CEOG demonstrates that HDF Renewstable® solution addresses a very large market being all the grids currently powered by fossil fuel power plants. By supplying non-intermittent renewable energy, CEOG – which we are already replicating across the world – opens a new era for renewable energies. We thank our partners Meridiam and SARA (Rubis Group) that have brought a significant value to the development of CEOG, allowing us to launch today this new model of electricity production. “
The Renewstable® power plant, designed and developed by HDF, will supply a 100% renewable, stable and dispatchable power to 10 000 households at a lower cost than the diesel power plant, but without emitting any greenhouse gas, fine particle, noise or fumes. A Renewstable® power plant produces electricity using local sources of clean energy to fully sustain the local needs, reducing exposure to oil price volatility, supply risks, and saving foreign exchange.
Representing a total investment of US$200 million, CEOG is an optimised combination of a solar park, a hydrogen long-term energy storage and a battery (short-term energy storage) to produce 24/7 baseload power. It is the first time that a renewable energy project supplies a grid through a capacity-based Power Purchase Agreement, usually used for thermal power plants. This type of electricity offtake contract guarantees the availability and stability of the electricity produced by CEOG. This last characteristic is essential for powering isolated grids or reducing congestion on large networks.
CEOG is currently being duplicated in about 20 countries such as Mexico, Caribbean island nations, Southern Africa, Indonesia and Australia. The most mature part of this pipeline represents US$1.5 billion of investment. Competitive with diesel power plants, the Renewstable® power plant addresses a large power generation market. HDF has already identified a pipeline of US$3 billion.
ABOUT HDF ENERGY
HDF Energy is a global pioneer in hydrogen energy. HDF develops, finances and operates multi-megawatts Hydrogen-Power plants. These plants provide continuous or on-demand electricity from renewable energy sources (wind or solar), combined with high power fuel cells supplied by HDF.
HDF has developed the world’s first mass production plant for high-power fuel cells for energy, which will be commissioned in France in 2023. Through this activity, HDF Energy will also serve the maritime and data center markets.
HDF Energy is a powerful accelerator of the energy transition by offering non-intermittent, grid-friendly and on-demand renewable power.
HDF is a company listed on the regulated market of Euronext Paris.
Press Relations
Serena BONI
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VIJFHUIZEN, Netherlands--(BUSINESS WIRE)--APsystems unveils the DS3 series, a dual-module, single phase microinverter product line for residential and commercial solar applications at the Solar Solutions International trade show in The Netherlands.
A new, groundbreaking design for APsystems, the DS3 series is launching with multiple power offerings in several major global markets, with outputs up to 960VA—making it the most powerful dual-module microinverter in the world and reflecting APsystems’ commitment to powerful innovation with global capability.
The new platform architecture, built from the ground up by the power electronics design experts comprising APsystems’ engineering and R&D teams, employs the latest breakthroughs in power inversion circuitry, semiconductor device technology, high-speed communication and intelligent control.
The DS3 series is designed to be paired with virtually any choice of PV module type and size, including 60 and 72-cell modules, 120 and 144 split-cell modules, as well as bi-facial modules. With multiple output ranges available, installers can capably find an optimal DS3 microinverter model to match their choice of PV module type, size and capacity to maximize the power output and increase energy harvest. The new product line is also fully compatible with APsystems’ existing QS1 and YC600 microinverters as well as ECU-R, ECU-C and ECU-B gateway devices.
DS3 Series microinverters offer the following features and benefits:
The DS3 Series will launch in most regions in Q4 of this year with the following models available by market:
Region |
DS3-S |
DS3-L |
DS3 |
DS3-H |
EMEA |
|
X 730VA |
X 880VA |
* 960VA |
USA/CANADA |
X 640VA |
X 768VA |
X 880VA |
* 960VA |
AUSTRALIA |
X 625VA |
X 750VA |
X 880VA |
* 960VA |
(x) available in Q4
(*) DS3-H– available on demand only
The DS3 series continues to build on the successful APsystems line of multi-module microinverters, offering reduced logistics costs, faster installation, improved communication and connection features, and a wide MPPT voltage range for greater energy harvest during low light conditions.
DS3 series microinverters will be on display at the APsystems stand #C9.1 at the Solar Solutions International, the largest trade show for solar energy in Northwest Europe, September 28-30 at the Expo Haarlemmermeer in The Netherlands.
About APsystems
APsystems is the #1 global multi-platform MLPE solution provider, offering microinverter and DC optimizer power electronics as well as energy storage and rapid shutdown devices for the global solar PV industry. APsystems microinverters are intelligent, innovative, and the best-selling multi-module microinverters in the world.
Founded in Silicon Valley in 2010, APsystems encompasses 4 global business units serving customers in over 120 countries. With millions of units sold producing more than 2.5 TWh of clean, renewable energy, APsystems continues to be a leader in the ever-growing solar MLPE segment.
APsystems EMEA is based in Rotterdam, Netherlands and Lyon, France (Branch); APsystems USA is based in Seattle, Washington; APsystems APAC is based in Jiaxing and Shanghai, China. APsystems also has locations in Guadalajara, Mexico and Sydney, Australia.
Learn more at www.APsystems.com.
Jason Higginson – This email address is being protected from spambots. You need JavaScript enabled to view it.
Daimler Trucks North America, Portland General Electric and Black & Veatch awarded with honorable mention for sustainability
OVERLAND PARK, Kan.--(BUSINESS WIRE)--As the first-of-its-kind, high-capacity public charging station for medium- and heavy-duty commercial electric vehicles (EVs), “Electric Island” in Portland, Oregon, has earned honorable mention in the sustainability category of Fast Company magazine’s 2021 “Innovation by Design” awards.
Drawing on the power of creativity and collaboration as the market for battery electric truck models accelerates, Electric Island – opened in April 2021 near Daimler Trucks North America’s (DTNA) headquarters – began as a collaboration between the truck manufacturer and Portland General Electric (PGE). Black & Veatch, a global leader in EV infrastructure, completed the project design, engineering and construction.
Designed to handle megawatt-level charging, at a rate four times faster than most of today’s fast-charging options, the Electric Island design also incorporates flexibility as a charging test bed. Plans for future on-site energy storage, solar power generation, and a product and technology showcase building are under development. Electric Island is a proving ground for innovation and scalability for various chargers, grid integration and reliability to meet the demands of commercial fleets.
As one of the industry’s most-sought after design awards, Fast Company’s Innovation by Design competition, now in its 10th year, honors creative work at the intersection of design, business and innovation, recognizing the people, companies and trends that have steadily advanced design to the forefront of the business conversation.
Judges include renowned designers from various disciplines, business leaders from some of the world’s most innovative companies, and Fast Company’s writers and editors. Entries are judged on the key tenets of innovation: functionality, originality, beauty, sustainability, user insight, and cultural and business impact.
“As countries, companies and communities around the world continue ambitious pursuits of decarbonization, Electric Island represents what the future of electrified transportation can and will look like,” said Paul Stith, Black & Veatch’s director of global transportation initiatives. “This recognition by Fast Company affirms that we’re on a solid path to remove the infrastructure barriers through teamwork and innovation.”
“Design is not just a beauty contest,” said Stephanie Mehta, Fast Company’s editor-in-chief. “It’s something that can change the world and create solutions in a time when we face pressing global issues such as systemic racism, climate change and a global pandemic. Many of these entries showcase these challenges while providing hope for the future through their steadfast commitment to elevate design.”
About Black & Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation and design, engaging the most influential leaders, companies and thinkers on the future of business. The editor-in-chief is Stephanie Mehta. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication, Inc., and can be found online at fastcompany.com.
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Project Fortress to provide critical support for the UK power grid, long-term reduction of carbon emissions from the power sector and an opportunity to deliver material ESG impact
Advanced blockchain, real-time monitoring and carbon reporting service to assist customers with tracking against ‘Net Zero’ goals
LONDON--(BUSINESS WIRE)--Quinbrook Infrastructure Partners ("Quinbrook"), a specialist global investment manager focused exclusively on renewables, storage and grid support infrastructure investment, today announced that it has acquired a consented 350MW Solar + Battery storage project, located in Kent, UK (“Project Fortress”). Quinbrook expects to commence construction of the project in the first half of 2022.
Once operational, Fortress is expected to be the largest single site solar PV installation in the UK, and is more than three times the size of the UK’s next largest consented solar PV project. The addition of battery storage to large scale solar generation at Fortress is designed to provide critical support to improve security and reliability for the UK power grid and help continue the UK’s sustainable drive to Net Zero.
A Nationally Significant Infrastructure Project (“NSIP”), Fortress was granted development consent by the Secretary of State for Business, Energy and Industrial Strategy in May 2020. Fortress is forecast to generate enough renewable power each year to meet the power needs of c. 100,000 UK homes and to help reduce carbon emissions by 164,450 tonnes in its first year of operations alone. Fortress includes an extensive landscape and biodiversity management plan, designed in collaboration with Natural England, Kent Wildlife Trust, RSPB, and the Environment Agency, that will add more than 3.5km of native hedgerow screen planting across the site and seek to deliver a net gain of 65 percent in biodiversity.
Project Fortress follows closely behind Quinbrook’s massive Gemini Solar + Battery Storage Project in Nevada, US, which is currently under construction. Developed by Quinbrook portfolio company Primergy Solar, Gemini is a US$1.1 billion, 690 MW solar PV and 380 MW battery storage system and is believed to be the largest co-located solar PV and battery storage project in US history. Gemini is expected to host over 1.8 million solar modules and generate enough renewable energy to meet the residential power demands of the entire City of Las Vegas, Nevada.
Primergy Solar also recently announced the 600 MW Hot Pot and Iron Point solar + battery storage projects in Nevada which are proposed to replace the retiring North Valmy coal-fired power station. Quinbrook’s Nevada projects together with Fortress bring the current solar + battery storage portfolio to well over 1.6 GW of solar PV and 1 GW of battery storage capacity representing over USD 2.5 billion of project capital investment for the US and UK renewables markets.
Rory Quinlan, Co-Founder and Managing Partner of Quinbrook commented, "We believe Project Fortress is a landmark transaction on many fronts and represents a new frontier in UK solar teamed with large scale battery storage. We have been immersed in large scale solar and storage in the US for many years and we can apply our significant experience in project design and equipment selection to ensure Fortress becomes the new benchmark for renewables that support the UK grid rather than challenge it.”
Investment in Fortress continues the Quinbrook Founders’ 20-year history of investment in UK renewables and grid support projects. Quinlan added: “Fortress is an excellent example of the scale of new renewables impact the UK needs to build not only to rapidly decarbonize the UK power sector, but also to meet the 13 percent increase in electricity demand that the Ten Point Plan is expected to create by 2030. The acute power price volatility and security of energy supply concerns we have seen in the UK these past weeks highlight how critical new capacity investment in the UK will be to deliver the energy transition without further disruption. We plan for Fortress to play its part in helping to improve energy independence for the UK.”
Quinbrook Applies Its Strong ESG Capabilities to Project Fortress
Quinbrook plans to apply several progressive innovations at Fortress for real-time measurement and reporting of carbon emissions in the UK power grid and the 24/7 tracing and tracking of the renewable provenance of the power sold to the project’s offtakers. Using advanced blockchain and other applications, Quinbrook aims to deliver a complete carbon reporting service to assist customers with tracking progress against their Net Zero goals and their compliance obligations with TCFD and related carbon reporting.
Quinlan added, “Fortress provides a timely opportunity to showcase the application of advanced technologies that are critical to verify the carbon reductions available to our customers from Fortress. We think this is destined to become the standard for all energy supply projects in the years ahead.”
Quinbrook will also work with local stakeholders to help secure measurable economic benefits from the development for the local community. To achieve this, Quinbrook will focus on opportunities for the involvement of local companies in the construction and operations supply chain; the ability of local residents to access employment opportunities associated with construction and operation; and the ability for research organisations to use Fortress to enable technical research and innovation in the renewable energy sector. Preliminary analysis by Quinbrook indicates that during its expected lifetime, Fortress could support approximately 1,000 jobs1 (direct and indirect) and contribute in excess of GBP 100 million2 in local socio-economic contributions from lease payments to landowners and local taxes.
Mike O’Donnell, CEO of the London Collective Investment Vehicle, an investor in Quinbrook’s Renewables Impact Fund, commented, “Fortress is an excellent example of the type of project London CIV sought to invest in when we made an allocation to Quinbrook from our LCIV Renewable Infrastructure Fund.”
Quinbrook Focuses on UK ‘Net Zero’ Transition
In the UK, Quinbrook is focusing on opportunities arising from the accelerating energy transition to achieve ‘Net Zero’ emissions from the country’s energy supply system. With ageing coal, gas and nuclear plants being retired in the UK, significant long-term capital investment in new renewables supply infrastructure, battery storage, smart grid and related businesses will be needed. Quinbrook views the need for new supply and grid support infrastructure as an opportunity to deliver measurable ESG impact from asset creation and optimisation which it considers fundamental to any ‘high impact’ focused investment thesis.
Quinbrook aims to protect and enhance the value of invested assets for the long-term benefit of its investors through the proactive identification and management of the ESG aspects of those investments. However, Quinbrook’s ESG objectives extend beyond this; to job creation, improved governance, greater community engagement, and reduced environmental impacts from the daily operation of portfolio assets.
About Quinbrook
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure and operational asset management in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.USD 8.2 billion equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity. Quinbrook's investment and asset management team has offices in Houston, London, Jersey, and the Gold Coast of Australia. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale wind power, grid support, biomass, battery storage and ‘smart grid’ projects in the US, UK and Australia.
1 Jobs: Includes direct and indirect jobs, solar pv total FTE 6/MW CEBR / Solar powered growth in the UK / prepared for solar trade association, storage and grid support 10,000 man hrs / 20MW (20VAR)
2 Business rates and lease payments expected during 35-year asset life for 350 MW solar and 150 BESS
Media Contact:
Jennifer Pflieger
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+1 (212) 446-1866
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--Regulatory News:
TechnipFMC (NYSE:FTI) (PARIS:FTI) will issue its third quarter 2021 earnings release after the close of the New York Stock Exchange on Wednesday, October 20, 2021. The Company will also host its third quarter 2021 earnings conference call on Thursday, October 21, 2021, at 1 p.m. London time (8 a.m. New York time).
The event will be webcast live and can be accessed through the TechnipFMC website (investors.technipfmc.com) or at https://edge.media-server.com/mmc/p/yi8pytxd.
An archived version will be available on the website following the webcast.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC utilizes its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Category: UK regulatory
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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The Tigo Energy Intelligence monitoring platform and Tigo TS4-A-2F for rapid shutdown on commercial installations will be showcased at Intersolar Europe, 2021.
MONTEVARCHI, Italy--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s worldwide leader in Flex MLPE (Module Level Power Electronics), confirms the Company’s presence at the upcoming Intersolar Europe in Munich, Germany. Tigo representatives will showcase the entire family of Tigo TS4 Flex MLPE devices, including the recently introduced TS4-A-2F and the Tigo Energy Intelligence software platform. Together, these Tigo products make up the most cost-effective and advanced solution for rapid shutdown on large-scale solar projects.
Tigo Energy has led solar innovation with its Tigo TS4 Flex MLPE by providing the freedom for customers to choose the features and components for their solar installations. Over the past 12 months, Tigo released key updates and innovations to its Flex MLPE product line to address the growing demand for high-power solar modules and energy projects that call for a diversified set of fire safety, monitoring, management, and power optimization features.
“The Tigo TS4 is a fixture in the systems we deploy because they provide a level of utility and value simply not found elsewhere,” said Ines Zion, Head of Business Development at Energy Rockstars GmbH & Co.KG. “The TS4 units are quick and easy to install, and the module-level monitoring they enable through the Tigo EI app gives us an outstanding overview of the installed components. The system reporting offered by Tigo also helps us quickly understand system performance and manage maintenance, both of which our customers value.”
The Tigo Energy Intelligence (EI) solution, a comprehensive digital platform, is designed to optimize the installer experience around commissioning, monitoring, and maintaining fleets of solar installations. Tigo EI also delivers the tools to decrease operation and maintenance costs, increase system performance and revenue, and improve the user experience for installers and customers. The platform also simplifies the commissioning process by providing greater system visibility and information to end installers and EPCs.
“The Tigo Energy Intelligence platform takes the installer experience to the next level, and we look forward to showing our installer partners exactly what Tigo EI can perform for them,” said Mirko Bindi, Vice President EMEA Sales and MD Europe at Tigo Energy. “The data granularity and analytics provided by the Tigo EI platform enables deep insights into systems that allow EPCs and installers to speed up commissioning, reduce operations and maintenance costs, maximizing system performance and revenue.”
To learn more about Tigo Flex MLPE solutions and the Tigo Energy Intelligence monitoring platform, please visit Tigo Energy at Intersolar Europe (Messe München, Pavilion B5, Booth 150) from October 6-8, 2021.
About Tigo Energy
Tigo Energy is the worldwide leader in Flex MLPE (Module Level Power Electronics) with innovative solutions that increase solar energy production, decrease operating costs, and significantly enhance safety of solar energy systems. The Tigo TS4 platform maximizes the benefit of solar and provides customers with the most scalable, versatile, and reliable MLPE solution available. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy worldwide. Tigo systems operate on seven continents and produce gigawatt hours of reliable, clean, affordable, and safe solar energy daily. With a global team, Tigo Energy is dedicated to making the best MLPE on earth so more people can enjoy the benefits of solar. Find us online at www.tigoenergy.com.
John Lerch
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE:FTI) (PARIS:FTI) will issue its third quarter 2021 earnings release after the close of the New York Stock Exchange on Wednesday, October 20, 2021. The Company will also host its third quarter 2021 earnings conference call on Thursday, October 21, 2021, at 1 p.m. London time (8 a.m. New York time).
The event will be webcast live and can be accessed through the TechnipFMC website (investors.technipfmc.com) or at https://edge.media-server.com/mmc/p/yi8pytxd.
An archived version will be available on the website following the webcast.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC utilizes its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
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Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Catie Tuley
Director, Public Relations
Tel: +1 281 591 5405
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
VANCOUVER, British Columbia--(BUSINESS WIRE)--HSBC Bank Canada announced today the launch of five new sustainable finance tools for commercial and global banking clients. Available to Canadian businesses of all sizes, Green Deposits, Green Trade Finance, Green Revolving Credit Facilities, Sustainability-Linked Loans, and Green Equipment Financing are joining HSBC’s successful Green Loans launched in 2019. With the new suite of sustainable finance offerings HSBC has become the first bank in Canada to apply sustainable finance market principles to both trade and deposit products.
“HSBC is the first bank in Canada to make such a comprehensive suite of options available for Canadian companies to take action on sustainability,” said Alan Turner, Head of Commercial Banking for HSBC Bank Canada. “Much of the focus to date has been on the large corporate and institutional markets. With these new tools, support for companies to achieve their sustainability goals is no longer the preserve of big businesses. Tools are now available for small and medium-sized businesses too.”
Green deposits
Businesses can now include sustainability in their treasury activities with overnight saving and term investment options in both Canadian and US dollars. Deposits will be eligible to finance loans for customers’ green initiatives such as renewable energy, energy efficiency and biodiversity conservation, providing a simple way for companies to support environmentally-beneficial projects. Clients will receive a quarterly, portfolio-level view of how their funds have been deployed to support green projects, and they will be able to manage their green account as simply as a regular deposit account. The introduction of Green Deposits is a market first in Canada.
Sustainable Trade Finance
Combining HSBC’s expertise and market leadership in both sustainable and trade finance, Sustainable Trade Finance has a broad range of applications that can be particularly helpful for Canadian businesses trading internationally. It supports environmentally and socially sustainable trade activities throughout the trade cycle, from the tender process and issuance of a payment order, through to shipment and sales fulfilment, all aligned to green-loan principles. The introduction of Sustainable Trade Finance is a market first in Canada.
Green Revolving Credit Facilities (RCFs)
HSBC first offered Green Loans in 2019 and has built on the in-demand product to offer Green Revolving Credit Facilities. RCFs enable companies to access funds when required according to their cash flow needs, with a minimum loan value of $500,000.
Sustainability-Linked Loans
Canadian businesses can now tie their borrowing costs to their progress on achieving sustainability goals with Sustainability-Linked Loans. With this type of loan, the interest rate is tied to a company’s achievement of key sustainability performance targets, which may include greenhouse gas emissions reduction, increased use of renewable energy, greater diversion of waste from landfills and reduced water use, as well as social and governance metrics like increased workforce diversity. This product has been available to select clients since March 2019, and is now rolled out more broadly across all HSBC commercial banking clients.
Green Equipment Financing
Green equipment finance, or green leasing, supports companies to finance the acquisition of equipment with tangible environmental benefits, in alignment with the market standard Green Loan Principles.
Dedicated guidance for Canadian businesses
HSBC Bank Canada recently created a dedicated Sustainable Finance advisory unit. This capability allows HSBC to share practical and global knowledge on how companies can obtain support to bring their sustainability objectives to life.
“Virtually every customer today wants to talk about ESG. We know from experience small and medium-sized businesses have a difficult time justifying sustainability spending,” said Angie Hall, Head of Sustainable Finance. “These products will make it easier for main street and mid-market businesses to start on their sustainability journey.”
Globally, HSBC has helped establish the industry principles that govern how ‘green’ money is raised and spent and is committed to aligning the financed emissions to net zero by 2050 or sooner, in line with the Paris Agreement goals. To help get there, HSBC is targeting to provide between USD750 billion and USD1 trillion of finance and investment towards the transition globally by 2030. HSBC is a founding member of the industry-led, UN-convened Net Zero Banking Alliance (NZBA) to bring collaboration and consistency to collective financial sector efforts to reach the Paris Agreement goals. The NZBA was co-launched by the Financial Services Taskforce (FSTF) of the Prince of Wales’ Sustainable Markets Initiative, chaired by HSBC Chief Executive Noel Quinn.
In Canada, HSBC was first in market with its Green Loan offering in 2019. A leader in Canadian green bonds, HSBC was selected earlier this year as one of two structuring advisors for the Government of Canada’s inaugural Green Bond. HSBC Bank Canada also recently launched Energy Efficiency and Electric Vehicle Loans for personal banking clients to help them finance an electric or plug-in hybrid electric vehicle, solar panels for their home, energy efficient appliances, windows, and more.
All products subject to credit availability.
Note to editors:
HSBC Commercial Banking
For over 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves around 1.4 million customers across 53 markets, ranging from small enterprises focused primarily on their home markets through to corporates operating across borders. Whether it is working capital, term loans, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. As the cornerstone of the HSBC Group, we give businesses access to a geographic network covering more than 90% of global trade and capital flows. For more information visit: http://www.hsbc.com/about-hsbc/structure-and-network/commercial-banking
HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances here and internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. HSBC Holdings plc is headquartered in London, UK and serves customers worldwide from offices in 64 countries and territories in Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,976bn at 30 June 2021, it is one of the world’s largest banking and financial services organizations.
Media enquiries to:
Pascal Dessureault at (416) 673-6997 or This email address is being protected from spambots. You need JavaScript enabled to view it.
Sharon Wilks at (416) 868-3878 or This email address is being protected from spambots. You need JavaScript enabled to view it.
SPRING, Texas--(BUSINESS WIRE)--Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is pleased to announce today that its subsidiary Perma-Pipe Egypt has recently been awarded approximately $5.0 million in contracts for the provision of thermally insulated pipes, field joints, and leak detection systems for district cooling networks by Consolidated Contractors Company (CCC) Group S.A.L. and Gascool Company in Old City Al Alamein and the Embassies District of the New Administrative Capital of Egypt.
The project will utilize Perma-Pipe’s XTRU-THERM® insulation system, a spray-applied polyurethane foam jacketed with a high-density polyethylene casing. Perma-Pipe will also be responsible for the supply, installation, and commissioning of Perma-Pipe’s own “PermAlert®” leak detection system for the insulated pipelines. The projects will begin execution in Perma-Pipe’s facilities in Beni Suef, Egypt in Q3 2021.
Adham Sharkawy, General Manager for Perma-Pipe Egypt states, “Perma-Pipe Egypt looks forward to continuing our strong partnership with both CCC and Gascool. We are very proud to be a part of such strategic and significant projects during this exciting period of development and growth for Egypt.”
Saleh Sagr, Sr. Vice President for Perma-Pipe’s MENA region states, “We are extremely proud to be playing our part to develop Egypt’s infrastructure which continues to attract more investment. We are also very pleased that our local presence enables us to deliver projects with greater efficiency to meet the needs of our Egyptian customers.”
David Mansfield, President and CEO commented, "We thank our customers for these awards and for continuing to place their trust in Perma-Pipe. When customers repeat business it reaffirms that Perma-Pipe is meeting their expectations and providing quality products. We are pleased to see confidence in the markets returning and an increase in project opportunities following the challenging period presented by the COVID-19 pandemic.”
Perma-Pipe International Holdings, Inc.
Perma-Pipe International Holdings, Inc. (Nasdaq: PPIH) is a global leader in pre-insulated piping and leak detection systems for oil and gas gathering, district heating and cooling, and other applications. It uses its extensive engineering and fabrication expertise to develop piping solutions that solve complex challenges regarding the safe and efficient transportation of many types of liquids. In total, Perma-Pipe has operations at thirteen locations in six countries.
David Mansfield, President and CEO
Perma-Pipe Investor Relations
847.929.1200
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Basin Electric joins Dairyland Power and ALLETE as an investor and owner of the planned Superior, WI plant
DULUTH, Minn.--(BUSINESS WIRE)--ALLETE, Inc. (NYSE:ALE) - announced today it is selling a portion of its ownership stake in the planned Nemadji Trail Energy Center (NTEC) to North Dakota-based Basin Electric Power Cooperative for approximately $20 million.
Basin Electric will become a 30 percent owner in the facility through its wholly owned subsidiary Nemadji River Generation LLC. ALLETE will retain a 20 percent ownership stake in the NTEC project through its subsidiary South Shore Energy LLC, with an expected total investment by ALLETE of approximately $140 million. Dairyland Power Cooperative will remain a 50 percent owner of the planned facility.
NTEC is a proposed combined-cycle, state-of-the-art natural gas power plant to be built in Superior, Wisconsin, and will be capable of delivering approximately 600 megawatts. The sale to Basin Electric does not change the size of the NTEC project or its anticipated economic impact as the single-largest private investment in Douglas County history.
“We are pleased to welcome another strong partner to the project in Basin Electric, affirming the important role this facility will play in ensuring regional reliability while bridging the transition to a clean-energy future as more renewable energy resources are added to the region’s energy supply,” said ALLETE Chair, President and CEO Bethany Owen. “NTEC remains an important part of our sustainability in action strategy to reduce carbon while ensuring our customers receive reliable, safe and affordable energy.”
With Basin Electric joining the project, ALLETE’s utility division Minnesota Power expects to contract for a lower amount of NTEC’s energy and, as part of its EnergyForward strategy to transition away from coal fired generation, will pursue investment in additional clean-energy technology. Minnesota Power will continue as constructor and operator of the plant. Dairyland Power and Basin Electric will utilize the remaining capacity of NTEC’s generation to serve their cooperative members.
“Natural gas remains an important part of Minnesota Power’s EnergyForward strategy to achieve coal-free generation by 2035 and reach a 100 percent carbon-free electricity supply by 2050,” said Minnesota Power Chief Operating Officer Josh Skelton. “Renewable sources such as wind and solar are not able to fulfill all of our customers’ energy needs on demand around the clock. We need reliable, modern energy sources such as NTEC to provide sustainable energy for our region and economy.”
The Minnesota Public Utilities Commission approved NTEC and the affiliated interest agreements between Minnesota Power and South Shore Energy in October 2018. The Public Service Commission of Wisconsin approved NTEC in January 2020 after a review that included a full Environmental Impact Statement. ALLETE is working with its two partners to secure the necessary permits to begin construction.
“Investing in renewable-enabling infrastructure such as NTEC, emerging clean energy technology, and transmission capacity that supports the transition to a carbon-free energy future is all part of ALLETE’s strategy,” Owen said. “The plant also represents significant economic benefits for the region in the form of construction jobs, permanent operations jobs and long-term tax base. “
ALLETE, Inc. is an energy company headquartered in Duluth, Minnesota. In addition to its electric utilities, Minnesota Power and Superior Water, Light and Power of Wisconsin, ALLETE owns ALLETE Clean Energy, based in Duluth; BNI Energy in Bismarck, N.D.; and has an eight percent equity interest in the American Transmission Co. More information about ALLETE is available at www.allete.com.
ALE-CORP
The statements contained in this release and statements that ALLETE may make orally in connection with this release that are not historical facts, are forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. These forward-looking statements involve risks and uncertainties and investors are directed to the risks discussed in documents filed by ALLETE with the Securities and Exchange Commission.
Investor Contact:
Vince Meyer
218-723-3952
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Media Contact:
Amy Rutledge
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PLANO, Texas--(BUSINESS WIRE)--Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced the publication of its 2021 Corporate Responsibility Report. The report demonstrates the Company’s continued dedication to disclosure aligned with leading sustainability reporting frameworks, with preparation in accordance with the Global Reporting Initiative Sustainability Reporting Standards ("GRI Standards") as well as indicators and recommendations from the Sustainability Accounting Standards Board (“SASB”) and the Task Force on Climate-related Financial Disclosures (“TCFD”).
The report focuses on Denbury’s performance during the 2019 and 2020 calendar years and encompasses the foundation of our corporate responsibility strategy: Our Company, Our People, Our Environment and Our Communities. Highlights include:
Chris Kendall, Denbury’s President and CEO commented, “I am proud to share our 2021 Corporate Responsibility Report, highlighting Denbury’s accomplishments and commitments in operating as a responsible and sustainable enterprise. As the world demands energy to fuel tomorrow’s economy and provide a better quality of life, Denbury is uniquely positioned to provide energy while also reducing atmospheric CO2 emissions. With Denbury’s strategically located assets and extensive experience, we are extremely well positioned to lead in the reduction of CO2 emissions through Carbon Capture, Utilization and Storage. Today, our use of industrial-sourced CO2 in enhanced oil recovery fully offsets our Scope 1 and 2 emissions and we have a goal to become Scope 3 net carbon negative by the end of this decade by expanding our use of industrial-sourced CO2. We are dedicated to being a leader in sustainability and welcome your feedback as we continue to create a new energy future.”
To read the 2021 Corporate Responsibility Report, please visit: https://csr.denbury.com/
ABOUT DENBURY
Denbury is an independent energy company with operations and assets focused on Carbon Capture, Use and Storage (CCUS) and Enhanced Oil Recovery (EOR) in the Gulf Coast and Rocky Mountain regions. For over two decades, the Company has maintained a unique strategic focus on utilizing CO2 in its EOR operations and since 2012 has also been active in CCUS through the injection of captured industrial-sourced CO2. The Company currently injects over three million tons of captured industrial-sourced CO2 annually, and its objective is to fully offset its Scope 1, 2, and 3 CO2 emissions within this decade, primarily through increasing the amount of captured industrial-sourced CO2 used in its operations. For more information about Denbury, visit www.denbury.com.
Follow us on Twitter and LinkedIn.
DENBURY CONTACTS:
Brad Whitmarsh, Executive Director, Investor Relations, 972.673.2020, This email address is being protected from spambots. You need JavaScript enabled to view it.
Susan James, Manager, Investor Relations, 972.673.2593, This email address is being protected from spambots. You need JavaScript enabled to view it.
AKRON, Ohio--(BUSINESS WIRE)--$BW #renewableenergy--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced today that it has signed a definitive agreement to acquire VODA A/S, a leading multi-brand aftermarket parts and service provider for the waste-to-energy and biomass-to-energy markets based in Vejen, Denmark. The transaction is targeted to close at the end of October 2021, following the satisfaction of customary closing conditions, including regulatory review in Denmark.
B&W will form B&W Renewable Service to integrate the VODA A/S and B&W Vølund aftermarket services businesses. This will serve as B&W’s platform for its renewable service business in Europe, significantly strengthening and expanding its ability to serve existing and new customers throughout this market, including for B&W-supplied and competitors’ technology. B&W Renewable Service will be led by VODA’s Chief Executive Officer, Christopher Nysted Sørensen.
“This strategic acquisition brings together B&W’s and VODA’s strengths and creates a solid foundation to further expand our service business in Europe’s fast-growing renewable energy market,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “Combining B&W’s financial strength, engineering capabilities and proven experience as an original equipment provider and service company with the capabilities and expertise of VODA creates a dynamic team ready to work together to serve our customers.”
“VODA has used a flexible and scalable business model to grow rapidly and efficiently, and we see many additional opportunities for our combined operations to grow synergistically,” Young said. “VODA employees are capable, responsive and experienced, and we’re pleased to welcome them to B&W.”
VODA CEO Christopher Nysted Sørensen said, “VODA has grown substantially over the last three years and has built a reputation for providing customer-focused, market-driven service and solutions. This transaction will set the foundation for future growth and new possibilities for customers and our employees. We are excited and proud to be given this opportunity to expand further and to work together as part of B&W Renewable Service.”
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.
About VODA A/S
VODA A/S focuses on energy producing incineration plants including Waste-to-Energy, Biomass-to-Energy or other fuels, providing service, engineering services, spare parts as well as general outage support and management. VODA has extensive experience within incineration technology, boiler / pressure parts, SRO, automation, and performance optimization. Headquartered in Vejen, Denmark, VODA also has locations in Aalborg, Denmark and Sweden.
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to our ability to close on the planned acquisition of VODA A/S and the timing of such closing, the expected growth in clean energy services in Europe, and the benefits expected to be achieved following the acquisition of VODA A/S, including our ability to expand our service business in Europe’s fast-growing renewable energy market. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties, including, among other things, our ability to satisfy the conditions to closing and to consummate the planned acquisition of VODA A/S, the impact of COVID-19 on the Company; the reaction of customers, suppliers and stockholders to the announcement or consummation of the acquisition; risks that the acquisition disrupts current plans and operations of the parties to the transaction; the amount of the costs, fees, expenses and charges related to the acquisition; the capital markets and global economic climate generally; and the other factors specified and set forth under "Risk Factors" in the Company’s periodic reports filed with the Securities and Exchange Commission, including the Company’s most recent annual report on Form 10-K and its quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. These forward-looking statements are made based upon detailed assumptions and reflect management’s current expectations and beliefs. While the Company believes that these assumptions underlying the forward-looking statements are reasonable, the Company cautions that it is very difficult to predict the impact of known factors, and it is impossible for the Company to anticipate all factors that could affect actual results. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Megan Wilson
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
704.625.4944 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345 | This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) will host a conference call and webcast beginning at 9:00 a.m. Eastern Daylight Time (EDT) on Thursday, November 4, 2021 to discuss third quarter 2021 earnings. The company plans to release its financial and operating results before the market opens that morning.
A webcast link and related presentation material will be included on the Investors page of the company’s website at http://ir.murphyoilcorp.com.
Date: Thursday, November 4, 2021
Time: 9:00 a.m. EDT
Toll Free Dial-in: 888-886-7786
Conference ID: 88455077
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. Murphy sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and natural gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the US or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the US Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Investor Contacts:
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DUBLIN--(BUSINESS WIRE)--The "Automotive Fuel Cell System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The automotive fuel cell system market studied was valued around USD 2 Billion in 2020, and it is expected to reach USD 10 Billion by 2026, projecting a CAGR of 40.63% during the forecast period.
Companies Mentioned
Key Market Trends
Rising Adoption of Fuel Cell Systems in Commercial Vehicles
With the growing environmental concerns, governments and environmental agencies are enacting stringent emission norms and laws, which are expected to increase the manufacturing cost of fuel-efficient diesel engines in the coming years. As a result, the new commercial vehicle diesel engines segment is expected to register a sluggish growth rate during the short term.
Additionally, conventional fossil fuel-powered commercial vehicles, especially trucks and buses, are responsible for increasing transportation emissions. The advent of fuel cell commercial vehicles, which are considered as low or zero-emission vehicles, is anticipated to reduce vehicular emissions emitted by heavy commercial vehicles.
Moreover, initiatives by government bodies around the world to opt for green energy mobility in order to curtail and curb transportation pollution is a key factor that is projected to drive the fuel cell commercial vehicle market in the near future. For instance,
In June 2021, a local governing body in London has launched a fleet of hydrogen fuel based double decker buses to operate in the public transport fleet in the city, with a view to reduce the emissions.
In April 2020, India's largest power producer and a central PSU under Ministry of Power, NTPC Ltd, has invited global expression of interest to provide 10 Hydrogen Fuel Cell (FC) based electric buses and an equal number of Hydrogen Fuel Cell-based electric cars in Leh and Delhi.
In November 2019, government-backed Chinese businesses like Beiqi Foton Motor, which is a truck and bus manufacturer announced that it will invest USD 2.6 billion in alternate energy vehicles, which includes fuel cell engines. The company plans to deploy 200,000 new energy commercial vehicles by 2025.
Europe is Expected to Witness Higher Growth Rate over the Forecast Period
Various companies based out of Europe are active in the automotive fuel cell system market in Europe. For instance, in March 2021, Robert Bosch GmbH announced that it is planning to develop automotive fuel cell (FC) system components and commercialize them by 2022. In addition to FC stacks, which are under development, the company will be developing integrated systems that will combine key components of fuel cell vehicles (FCV), including hydrogen gas injectors and air valves.
Moreover, in March 2021, Daimler Truck AG and the Volvo Group founded a fuel cell joint venture. The Volvo Group acquired 50% shares in the existing Daimler Truck Fuel Cell GmbH & Co. KG with around EUR 0.6 billion. The new joint venture, cellcentric GmbH & Co. KG will be the world's leading manufacturers of fuel cells.
Companies active in the region are constantly working on new materials and new fuel cell technologies and are spending on the expansion of their facilities. It is expected to continue in the coming years as some companies have shown their intent on fuel cell technology by announcing upcoming investments. For instance,
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Electrolyte Type
5.2 Vehicle Type
5.3 Fuel Type
5.4 Power Output
5.5 Geography
6 COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/sn4glm
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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