IRVING, Texas--(BUSINESS WIRE)--ExxonMobil Chemical Company has acquired California-based Materia, Inc., a technology company that has pioneered the development of a Nobel prize-winning technology for manufacturing a new class of materials. The innovative materials can be used in a number of applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings.
ExxonMobil and Materia have been collaborating since 2017 on the development of new hydrocarbon-based materials that are stronger, lighter and more durable than existing thermoset products such as epoxy. In the wind power industry, these benefits could enable the design of longer, more durable wind turbine blades for more efficient renewable electricity production. Due to their strength, the materials could also be used as a light-weight, corrosion-resistant replacement for steel in certain construction applications.
“We are reimagining how new hydrocarbon-based materials can form the building blocks to help multiple industries achieve a more sustainable future,” said Karen McKee, president of ExxonMobil Chemical Company. “This acquisition ties together Materia’s Nobel Prize-winning technology with ExxonMobil’s complementary proprietary technology and world-class manufacturing capabilities to bring this exciting new class of structural materials to commercial scale.”
The materials take advantage of revolutionary catalyst discoveries made by professor Dr. Robert Grubbs and his research team at the California Institute of Technology. Grubbs received the 2005 Nobel Prize in Chemistry for these discoveries.
“The combination of Materia’s innovative culture, dedicated employees and cutting-edge technology with ExxonMobil’s expertise and scale in bringing new technology to market will open up an exciting new chapter for Materia,” said Professor Robert Grubbs, Nobel Laureate and co-founder of Materia. “ExxonMobil’s acquisition significantly expands the growth opportunities for this unique technology.”
The acquisition includes Materia’s headquarters and technology center in Pasadena, California and its manufacturing facility in Huntsville, Texas. ExxonMobil intends to operate the business under the Materia company name as a wholly owned affiliate.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor. Follow us on Twitter and LinkedIn.
About Materia
Materia was founded in 1999 to commercialize a group of ruthenium catalyst technologies developed by Nobel Prize winner Dr. Robert Grubbs and his research group at Caltech. In recent years the company has focused on developing Proxima™ polymers with commercial success in subsea pipeline insulation, molding of parts for industrial applications, and various composite applications like composite rebar for concrete reinforcement.
Cautionary Statement: Statements of future events or conditions in this release are forward-looking statements. Actual future results, including the application of new technologies to new industrial processes, could differ materially due to manufacturing or operating requirements; political or regulatory developments; future technological developments; technical or operating factors; future testing of material properties and applications; and other factors cited under the caption “Factors Affecting Future Results” on the Investors page of our website at exxonmobil.com.
Exxon Mobil Media Relations
(972) 940-6007
KILGORE, Texas--(BUSINESS WIRE)--Martin Midstream Partners L.P. (NASDAQ: MMLP) (“MMLP” or the “Partnership”) announced today that members of executive management will host virtual meetings during the 2021 Wells Fargo Virtual Midstream, Utility & Renewables Symposium taking place December 8-9, 2021. A copy of the Partnership’s presentation will be available by visiting the Partnership’s website at www.MMLP.com.
About Martin Midstream Partners
MMLP, headquartered in Kilgore, Texas, is a publicly traded limited partnership with a diverse set of operations focused primarily in the Gulf Coast region of the United States. MMLP’s primary business lines include: (1) terminalling, processing, storage, and packaging services for petroleum products and by-products; (2) land and marine transportation services for petroleum products and by-products, chemicals, and specialty products; (3) sulfur and sulfur-based products processing, manufacturing, marketing and distribution; and (4) natural gas liquids marketing, distribution, and transportation services. To learn more, visit www.MMLP.com. Follow Martin Midstream Partners L.P. on LinkedIn and Facebook.
MMLP-E
Sharon Taylor – Chief Financial Officer
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(877) 256-6644
Series A financing enables Merge to expand its team and broaden its fleet electrification offerings.
HOUSTON--(BUSINESS WIRE)--Merge Electric Fleet Solutions, a premier fleet electrification services and finance company, today announced the close of a Series A funding round led by strategic investor Pickering Energy Partners (PEP). Merge will use the funding to accelerate team expansion and broaden its electrification services offerings to additional fleet segments.
Merge supports fleets through the entire lifecycle of EV transition including planning, deployment, operations, and financial services. The company’s unique vehicle-driven infrastructure planning process is built on an analytics engine that maximizes economic and environmental benefits while minimizing operational risk. This approach provides customers with a data-driven plan to hit measurable and realistic goals for pilot programs and full deployment.
Featuring a best-in-class founding team led by EV-industry pioneer Glen Stancil, Merge combines vehicle, infrastructure, and financial expertise to provide fleets with simple and affordable electrification solutions. The Merge team brings decades of EV experience from designing, delivering, and operating integrated charging solutions for residential and commercial applications on L2 and DC platforms at over 1,500 sites across 40 states.
“Fleet electrification is this country’s most efficient and cost-effective path to transportation emissions reduction,” said Glen Stancil, CEO of Merge. “The increasing market and regulatory momentum are pushing businesses of all types and sizes to fleet electrification. Merge provides the services that these businesses need to confidently meet their fleet electrification goals with simplicity and affordability.”
EVs are capable of filling many fleet roles today while saving money, improving local air quality, and fighting climate change. The benefits of deploying EVs in fleet applications include reduced cost-of-ownership from fuel and maintenance savings, as well as improved satisfaction of employees, customers, investors, and the community.
“Now is the time to capture value in the fleet electrification space, as evidenced by Merge’s rapid expansion in multiple sectors including energy,” said Dan Pickering, Chief Investment Officer of PEP. “The EV market is at an upward inflection point with long growth runway ahead, and Merge is the go-to authority in fleet electrification.”
Merge currently works with customers across market segments that include energy, healthcare, food and beverage, and home services to provide comprehensive solutions that maximize the economic and environmental benefits of an EV fleet.
To learn more about Merge and its fleet electrification capabilities, please visit www.MergeFleet.com or email This email address is being protected from spambots. You need JavaScript enabled to view it..
To learn more about PEP’s business offerings, visit PickeringEnergyPartners.com or This email address is being protected from spambots. You need JavaScript enabled to view it..
Tara Zachariah (202) 439-3224
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$1.11 dividend per share; up to $750 million available for share repurchases; $2.5 billion net income attributable to KMI; and 9% growth in DCF per share1
HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) today announced its preliminary 2022 financial projections. “We expect 2021 to be a record year for Kinder Morgan financially, attributable to our outperformance related to winter storm Uri in the first quarter, along with solid project execution across our business units, and two important acquisitions. Our strong performance is also reflected in our debt metric, as we expect to end the year with a Net Debt-to-Adjusted EBITDA ratio of 4.0 times, much better than our budgeted ratio of 4.6 times,” said Steve Kean, KMI chief executive officer.
“For 2022, with our market fundamentals remaining robust, a full year of earnings from our Stagecoach acquisition, and the completion of several projects in the fourth quarter of 2021, we project a very strong year,” said Steve Kean, KMI chief executive officer. “We expect to generate net income attributable to KMI per share of $1.09 and distributable cash flow (DCF) per share of $2.07. Our growth will continue to be supported by an unparalleled network of interconnected assets, important energy infrastructure expansion opportunities, and new investments in the energy evolution,” continued Kean.
Below is a summary of KMI’s expectations for 2022:
Please see “Non-GAAP Financial Measures” below for definitions of DCF, Adjusted EBITDA and Net Debt, and the accompanying tables for reconciliations of 2022 budgeted net income attributable to KMI to budgeted DCF and budgeted Adjusted EBITDA.
KMI’s expectations assume average annual prices for West Texas Intermediate (WTI) crude oil and Henry Hub natural gas of $72.50 per barrel and $4.25 per MMBtu, respectively, consistent with forward pricing during the budget process. The vast majority of cash generated by KMI is fee-based and therefore is not directly exposed to commodity prices. The primary area where KMI has commodity price sensitivity is in its CO2 segment, where KMI hedges the majority of its next 12 months of oil production to minimize this sensitivity. For 2022, the company estimates that every $1 per barrel change in the average WTI crude oil price impacts DCF by approximately $8.7 million and each $0.10 per MMBtu change in the price of natural gas impacts DCF by approximately $0.6 million.
The KMI board of directors has preliminarily reviewed the 2022 budget and will take formal action on it at the January board meeting. Management will discuss the budget in detail during the company’s annual investor day conference on Jan. 26, 2022, in Houston, Texas. Kinder Morgan remains committed to transparency and will continue to publish its budget on the company’s website as presented at the investor day conference. The 2022 budget will be the standard by which KMI measures its performance next year and will be a factor in determining employee compensation.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are generally not historical in nature. Forward-looking statements in this news release include express or implied statements pertaining to KMI’s expected net income attributable to KMI, DCF (in each case in the aggregate and per share), Adjusted EBITDA, expected Net Debt-to-Adjusted EBITDA ratios, and anticipated dividends for 2021 (with and without the impact of winter storm Uri, where applicable) and 2022. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize nor their ultimate impact on our operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include: the impacts of the COVID-19 pandemic and the pace and extent of economic recovery; the timing and extent of changes in the supply of and demand for the products we transport and handle; commodity prices; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on our website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.
Non-GAAP Financial Measures
The non-generally accepted accounting principles (non-GAAP) financial measures of distributable cash flow (DCF), both in the aggregate and per share; Adjusted EBITDA; and Net Debt are presented herein.
Our non-GAAP measures described further below should not be considered alternatives to GAAP net income attributable to KMI or other GAAP measures and have important limitations as analytical tools. Our computations of these non-GAAP measures may differ from similarly titled measures used by others. You should not consider these non-GAAP measures in isolation or as substitutes for an analysis of our results as reported under GAAP. Management compensates for the limitations of these non-GAAP measures by reviewing our comparable GAAP measures, understanding the differences between the measures and taking this information into account in its analysis and its decision-making processes.
Certain Items, as adjustments used to calculate our non-GAAP financial measures, are items that are required by GAAP to be reflected in net income attributable to KMI, but typically either (1) do not have a cash impact (for example, asset impairments), or (2) by their nature are separately identifiable from our normal business operations and in our view are likely to occur only sporadically (for example, certain legal settlements, enactment of new tax legislation and casualty losses). We also include adjustments related to joint ventures (see “Amounts from Joint Ventures” below).
DCF is calculated by adjusting net income attributable to KMI for Certain Items, DD&A, amortization of excess cost of equity investments, income tax expense, cash taxes, sustaining capital expenditures and other items. We also include amounts from joint ventures for income taxes, DD&A and sustaining capital expenditures (see “Amounts from Joint Ventures” below). DCF is a significant performance measure useful to management and external users of our financial statements in evaluating our performance and in measuring and estimating the ability of our assets to generate cash earnings after servicing our debt, paying cash taxes and expending sustaining capital, that could be used for discretionary purposes such as dividends, stock repurchases, retirement of debt, or expansion capital expenditures. DCF should not be used as an alternative to net cash provided by operating activities computed under GAAP. We believe the GAAP measure most directly comparable to DCF is net income attributable to KMI. DCF per share is DCF divided by average outstanding shares, including restricted stock awards that participate in dividends.
Adjusted EBITDA is calculated by adjusting net income attributable to KMI before interest expense, income taxes, DD&A, and amortization of excess cost of equity investments (EBITDA) for Certain Items. We also include amounts from joint ventures for income taxes and DD&A (see “Amounts from Joint Ventures” below). Adjusted EBITDA is used by management and external users, in conjunction with our Net Debt (as described further below), to evaluate certain leverage metrics. Therefore, we believe Adjusted EBITDA is useful to investors. We believe the GAAP measure most directly comparable to Adjusted EBITDA is net income attributable to KMI.
Net Debt is calculated by subtracting from debt (1) cash and cash equivalents, (2) debt fair value adjustments, and (3) the foreign exchange impact on Euro-denominated bonds for which we have entered into currency swaps. Net Debt is a non-GAAP financial measure that management believes is useful to investors and other users of our financial information in evaluating our leverage. We believe the most comparable measure to Net Debt is debt net of cash and cash equivalents.
Amounts from Joint Ventures - Certain Items, DCF and Adjusted EBITDA reflect amounts from unconsolidated joint ventures (JVs) and consolidated JVs utilizing the same recognition and measurement methods used to record “Earnings from equity investments” and “Noncontrolling interests,” respectively. The calculations of DCF and Adjusted EBITDA related to our unconsolidated and consolidated JVs include the same items (DD&A and income tax expense, and for DCF only, also cash taxes and sustaining capital expenditures) with respect to the JVs as those included in the calculations of DCF and Adjusted EBITDA for our wholly-owned consolidated subsidiaries. Although these amounts related to our unconsolidated JVs are included in the calculations of DCF and Adjusted EBITDA, such inclusion should not be understood to imply that we have control over the operations and resulting revenues, expenses or cash flows of such unconsolidated JVs.
Table 1 |
|||||||||||||
Kinder Morgan, Inc. and Subsidiaries |
|||||||||||||
Reconciliation of Projected Net Income Attributable to Kinder Morgan, Inc. to Projected DCF |
|||||||||||||
(In billions, unaudited) |
|||||||||||||
|
|||||||||||||
|
2021 Forecast |
2021 Forecast Excluding Uri |
2022 Projected Guidance |
||||||||||
Net income attributable to Kinder Morgan, Inc. (GAAP) |
$ |
1.7 |
|
|
$ |
0.8 |
|
$ |
2.5 |
|
|||
Total Certain Items (1) |
1.2 |
|
|
|
1.2 |
|
— |
|
|||||
DD&A and amortization of excess cost of equity investments for DCF (2) |
2.6 |
|
|
|
2.6 |
|
2.4 |
|
|||||
Income tax expense for DCF (2)(3) |
0.9 |
|
|
|
0.7 |
|
0.8 |
|
|||||
Cash taxes (2) |
(0.1 |
) |
|
|
(0.1 |
) |
(0.1 |
) |
|||||
Sustaining capital expenditures (2) |
(0.9 |
) |
|
|
(0.9 |
) |
(0.9 |
) |
|||||
Other items (1) |
— |
|
|
|
— |
|
— |
|
|||||
DCF |
$ |
5.4 |
|
|
$ |
4.3 |
|
$ |
4.7 |
|
|||
Table 2 |
|||||||||||
Kinder Morgan, Inc. and Subsidiaries |
|||||||||||
Reconciliation of Projected Net Income Attributable to Kinder Morgan, Inc. to Projected Adjusted EBITDA |
|||||||||||
(In billions, unaudited) |
|||||||||||
|
|||||||||||
|
2021 Forecast |
2021 Forecast Excluding Uri |
2022 Projected Guidance |
||||||||
Net income attributable to Kinder Morgan, Inc. (GAAP) |
$ |
1.7 |
|
$ |
0.8 |
$ |
2.5 |
||||
Total Certain Items (1) |
1.2 |
|
|
1.2 |
— |
||||||
DD&A and amortization of excess cost of equity investments |
2.2 |
|
|
2.2 |
2.2 |
||||||
Income tax expense (3) |
0.9 |
|
|
0.7 |
0.7 |
||||||
JV DD&A and income tax expense (2) |
0.4 |
|
|
0.4 |
0.3 |
||||||
Interest, net (3) |
1.5 |
|
|
1.5 |
1.5 |
||||||
Adjusted EBITDA |
$ |
7.9 |
|
$ |
6.8 |
$ |
7.2 |
||||
Notes |
||
(1) |
Aggregate adjustments for Other items (such as non-cash pension expense and non-cash compensation associated with our restricted stock program and 2022 Total Certain Items are currently estimated to be less than $100 million. |
|
(2) |
Includes or represents DD&A, income tax expense, cash taxes and/or sustaining capital expenditures (as applicable for each item) from JVs. |
|
(3) |
Amounts are adjusted for Certain Items. |
|
1Compared to the 2021 forecast that excludes the largely nonrecurring outperformance related to winter storm Uri.
Dave Conover
Media Relations
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Investor Relations
(800) 348-7320
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www.kindermorgan.com
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE) announced today that Karine Boissy-Rousseau, Senior Vice President New Mobility and Marketing at TotalEnergies, has been appointed to the Board of Directors effective immediately to replace Phillipe Charleux, who had served on the Board of Directors since February 2020.
“As a highly respected and seasoned executive with significant experience in renewable fuels, we look forward to Karine’s engagement and assistance in guiding our objectives,” said Clean Energy Board of Directors Chairman Stephen Scully. “We are fortunate to have her join us, and I am confident that Karine will make an important and positive impact as renewables is such an important part of our business.”
Ms. Boissy-Rousseau has served as Senior Vice President New Mobility and Marketing of TotalEnergies since September 1, 2021. Before that, Ms. Boissy-Rousseau was President of Air Liquide Hydrogen Mobility & Energy, where she led the development of hydrogen activities in the transportation sector for North America since 2019. Prior to that, she was Managing Director of Air Liquide Benelux Industries from 2016 to 2019 and General Manager of Air Liquide France Industries in Paris from 2012 to 2016.
“I am extremely proud to join the Clean Energy Board of Directors as the company continues to advance in both the production and sales of RNG in North America,” stated Ms. Boissy-Rousseau. “I look forward to working alongside my fellow directors and company management to continue to champion RNG, a clean and sustainable vehicle fuel which can address climate issues and move towards achieving carbon neutrality.”
Ms. Boissy-Rousseau holds a Master’s degree in Chemical Engineering and a Master’s degree in Marketing.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
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Investor Contact:
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DALLAS--(BUSINESS WIRE)--CBRE Acquisition Holdings, Inc. (NYSE: CBAH) (“CBAH”), a publicly traded special purpose acquisition company, today announced that its stockholders voted to approve the previously announced business combination with Altus Power, Inc. (“Altus Power”), and all other proposals presented at CBAH’s special meeting of stockholders (the “Special Meeting”) held on December 6, 2021.
Approximately 90.3% of the votes cast on the business combination proposal at the Special Meeting were in favor of approving the business combination proposal, including 60.4% of the outstanding shares of CBAH common stock not owned, directly or indirectly, by CBRE Group, Inc., any of its affiliates or any executive officers of CBAH. CBAH plans to file the results of the Special Meeting on a Form 8-K with the U.S. Securities and Exchange Commission today.
The business combination is expected to close on December 9, 2021. Upon closing, post-combination Altus Power’s Class A shares and warrants are expected to commence trading on the New York Stock Exchange, under the symbols “AMPS” and “AMPS WS,” respectively, on December 10, 2021. Further, at the closing of the business combination, each CBAH unit will separate into its components, which are one CBAH Class A share and one-fourth of one warrant. The holders of CBAH Class A shares and warrants will receive equivalent securities of AMPS and AMPS WS, as applicable, in post-combination Altus Power.
As previously disclosed, the deadline for stockholders to withdraw their redemption requests has been extended to 4:00 p.m. (New York City time) on December 8, 2021. Any stockholder wishing to withdraw a redemption request may request a withdrawal by contacting CBAH’s transfer agent at the email address listed below; the Company will consider honoring such request on a case-by-case basis:
Continental Stock Transfer & Trust Company
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About CBRE Acquisition Holdings, Inc.
CBRE Acquisition Holdings, Inc. (“CBAH”) is a blank-check company formed solely for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. CBAH is sponsored by CBRE Acquisition Sponsor, LLC, which is a subsidiary of CBRE Group, Inc.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is creating a clean electrification ecosystem, serving its commercial, public sector and community solar customers with locally-sited solar generation, energy storage, and EV-charging stations across the U.S. Since its founding in 2009, Altus Power has developed or acquired over 350 megawatts from Vermont to Hawaii. Visit altuspower.com to learn more.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “could”, “continue”, “expect”, “estimate”, “may”, “plan”, “outlook”, “future” and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements, which involve risks and uncertainties, relate to the use of proceeds for the new credit facility and analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable and may also relate to CBAH’s and Altus Power’s future prospects, developments and business strategies. In particular, such forward-looking statements include statements concerning the timing of the Business Combination, the business plans, objectives, expectations and intentions of CBAH once the Business Combination and the other transactions contemplated thereby (the “Transactions”) and change of name are complete (“New Altus”), and New Altus’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These statements are based on CBAH’s or Altus Power’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside CBAH’s or Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These risks, uncertainties, assumptions and other important factors include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; (2) the inability to complete the Transactions due to the failure to obtain approval of the stockholders of CBAH or Altus Power or other conditions to closing in the Business Combination Agreement; (3) the ability of New Altus to meet NYSE’s listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the Business Combination; (4) the inability to complete the private placement of common stock of CBAH to certain institutional accredited investors; (5) the risk that the announcement and consummation of the Transactions disrupts Altus Power’s current plans and operations; (6) the ability to recognize the anticipated benefits of the Transactions, which may be affected by, among other things, competition, the ability of New Altus to grow and manage growth profitably, maintain relationships with customers, business partners, suppliers and agents and retain its management and key employees; (7) costs related to the Transactions; (8) changes in applicable laws or regulations and delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals required to complete the Transactions; (9) the possibility that Altus Power and New Altus may be adversely affected by other economic, business, regulatory and/or competitive factors; (10) the impact of COVID-19 on Altus Power’s and New Altus’s business and/or the ability of the parties to complete the Transactions; (11) the outcome of any legal proceedings that may be instituted against CBAH, Altus Power, New Altus or any of their respective directors or officers, following the announcement of the Transactions; and (12) the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments.
Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Registration Statement and CBAH’s definitive proxy statement/prospectus. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and CBAH and Altus Power undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in CBAH and is not intended to form the basis of an investment decision in CBAH. All subsequent written and oral forward-looking statements concerning CBAH and Altus Power, the Transactions or other matters and attributable to CBAH and Altus Power or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
CBRE Acquisition Holdings Contacts
Cash Smith
CBRE Acquisition Holdings, Inc.
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Steven Iaco
CBRE Corporate Communications
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Altus Power Contacts
For Media:
Cory Ziskind
ICR, Inc.
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For Investors:
Caldwell Bailey
ICR, Inc.
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Miles Barr, Co-founder & CTO, Named to 2021 Environment + Energy Leader 100 List As Company Leads the Next Evolution in Solar Energy Solutions to Reach Carbon Neutral Future
REDWOOD CITY, Calif.--(BUSINESS WIRE)--#leadership--Ubiquitous Energy, the world leader in transparent solar technology — the conversion of light into electricity using semiconducting materials while maintaining visible transparency, is enhancing sustainable energy solutions as the world responds to an urgent climate crisis. In recognition of its industry leadership, the company’s co-founder and CTO, Miles Barr, was named to the 2021 Environment + Energy Leader 100 List, an annual recognition of environment and energy ‘doers’ who break trail in creating new solutions, programs, platforms, best practices and products to help their companies – or other companies – achieve greater success.
2021: The Year of Climate Change Impacting Policies Worldwide
A devastating United Nations (UN) climate report, which analyzed 14,000 studies on the topic, found that some consequences of climate change are inevitable while concluding that there is a narrow window to mitigate the disastrous outcomes of inaction. Consequently, in a meeting with leading mayors from C40 Cities, the UN Secretary-General António Guterres called 2021 a “Make-or-Break” year for climate change response and sustainable energy transformation. In response, countries, companies, and individuals have doubled down on sustainability initiatives, allocating financial resources, advocating for effective policies, and implementing lifestyle changes to restrain the repercussions of global warming. For example, in October, countries gathered in Glasgow, Scotland, for the annual United Nations Climate Change Conference where they committed to reducing emissions and funding sustainability initiatives to respond to this imminent crisis.
Ubiquitous Energy’s Miles Barr Recognized as Top 100 Environment + Energy Leader
As a solution builder, Ubiquitous Energy is at the forefront of these world-leading efforts. The company, founded by technologists a decade ago committed to a sustainable future, is committed to making an enormous impact on environmental outcomes, expecting to install one billion square feet of solar energy generating window glass globally by 2050. This will expand what’s possible in a renewable energy portfolio and change the way the world utilizes solar power.
“I’m honored to be included on this year’s Environment + Energy Leader 100 List,” said Barr, adding, “This reflects more than a decade of investment, research, and development and countless hours of hard work by the Ubiquitous Energy team. I’m humbled to lead such an incredible team as we work to do our part to respond to an urgent climate crisis and a growing market demand for solar energy products.”
To learn more about how Ubiquitous Energy is responding to today’s energy challenges by powering the future of what a window can be, visit: https://ubiquitous.energy/.
About Ubiquitous Energy, Inc.
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.
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Proceeds to be used for general corporate purposes, which may include (without limitation) funding potential acquisitions, project-related capital and working capital, and to support clean energy growth initiatives
AKRON, Ohio--(BUSINESS WIRE)--$BW #BabcockWilcox--Babcock & Wilcox Enterprises, Inc. ("B&W" or the "Company") (NYSE: BW) announced the commencement of an underwritten registered public offering of $125 million aggregate principal amount of senior notes due 2026 (the “Senior Notes”). B&W expects to grant the underwriters a 30-day option to purchase additional Senior Notes in connection with the offering. The interest rate and certain other terms of the Senior Notes will be determined at the time of the pricing of the offering. 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.
B&W and the Senior Notes both received a rating of BB+ from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
The Company expects to use the net proceeds of this offering for general corporate purposes, which may include (without limitation) funding potential acquisitions, project-related capital and working capital and to support clean energy growth initiatives. Pending any specific use, the Company may use any remaining net proceeds to invest in short-term interest-bearing accounts, securities or similar investments.
B. Riley Securities, Inc. is acting as lead book-running manager for the offering. D.A. Davidson & Co., Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., William Blair & Company, L.L.C. and EF Hutton, division of Benchmark Investments, LLC are acting as joint book-running managers for the offering. Aegis Capital Corp., Boenning & Scattergood, Inc., Huntington Securities, Inc., InspereX LLC and Wedbush Securities, Inc. are acting as co-managers for the offering.
The Senior Notes will be offered under the Company's shelf registration statement on Form S-3, which was initially filed with the Securities and Exchange Commission ("SEC") on November 8, 2021 and declared effective by the SEC on November 22, 2021. The offering will be made only by means of the prospectus supplement dated December 6, 2021 and the accompanying base prospectus dated November 22, 2021, as may be further supplemented by any free writing prospectus and/or pricing supplement that the Company may file with the SEC. Copies of the preliminary prospectus supplement and the accompanying base prospectus and any free writing prospectus and/or pricing supplement for the offering may be obtained on the SEC's website at www.sec.gov, or by contacting B. Riley Securities by telephone at (703) 312-9580, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.. The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Senior Notes, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of the date of this press release. Such forward looking statements include, but are not limited to, statements regarding the Company's public offering of the Senior Notes and intended net proceeds of the offering thereof. Factors that could cause such actual results to differ materially from those contemplated or implied by such forward-looking statements include, without limitation, the risks associated with the unpredictable and ongoing impact of the COVID-19 pandemic and other risks described from time to time in the Company's periodic filings with the SEC, including, without limitation, the risks described in the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021 under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" (as applicable) and the prospectus supplement related to the offering of the Senior Notes. These factors should be considered carefully, and the Company cautions not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
About Babcock & Wilcox Enterprises
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a global leader in energy and environmental technologies and services for the power and industrial markets.
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Oil and gas investment will need to return to pre-COVID levels and stay there through 2030 to restore market balance and meet future demand, report by International Energy Forum and IHS Markit finds
HOUSTON--(BUSINESS WIRE)--Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit (NYSE: INFO).
The report underlines widespread concerns about the stability of global energy markets in the wake of the COVID-19 pandemic and follows a decision by several countries including the United States, Japan and India to release strategic petroleum reserves to cool prices.
“The energy crisis in Europe and Asia this winter is a preview of what we can expect in the years ahead. Two years in a row of large and abrupt underinvestment in oil and gas development is a recipe for higher prices and volatility later this decade,” said Joseph McMonigle, secretary general, IEF.
“More frequent boom-bust cycles will harm consumers and producers recovering from COVID, set back UN Climate and Sustainable Development goals and threaten global security,” he added.
Upstream investment in the oil and gas sector remained depressed for a second consecutive year in 2021 at $341 billion, 23% below the pre-pandemic level of $525 billion, the report found. Investment slumped by 30% in 2020. Global demand for oil and gas, meanwhile, has rebounded to near 2019 levels and is set to keep rising for several years.
Oil and gas investment will need to return to pre-COVID levels and stay there through 2030 to restore market balance, the report states.
However, several factors are currently making it more challenging to meet adequate investment levels this decade compared to decades past, the report says. These include record price volatility, changing government regulations, divergent long-term demand scenarios and non-standardized ESG criteria that are driving up investment hurdles and hiking the cost of capital for long-cycle projects, the report says.
Pressure on governments and industry for a green recovery is further constraining availability of capital, it says. As a result, investment decisions are becoming increasingly complex. The unprecedented level of uncertainty increases the risk profile of hydrocarbon investments and the cost of capital, reshaping investment decisions, the report states.
“Additional layers of complexity and the uncertainty that brings is fostering an environment of ‘pre-emptive underinvestment’ for oil and gas supply, where capital expenditure lags demand,” said Daniel Yergin, vice chairman, IHS Markit and author of The New Map: Energy, Climate and the Clash of Nations.
“While the energy transition proceeds, underinvesting in oil and gas before renewables and other low-carbon technologies are ready to scale up to meet energy demand could create recurrent energy crises of the kind we saw in Asia and Europe over the last few months, resulting in elevated prices and adverse economic consequences,” he added.
The next two years will be critical for sanctioning and allocating capital toward new projects to ensure adequate oil and gas supply comes online within the next 5-6 years, the report states.
Insufficient upstream investment could result in more price volatility and spur adverse economic consequences, such as wider energy poverty, more frequent scarcity and fuel switching to more polluting energy sources such as wood and coal, the report found.
“Increased price volatility would weaken the prospects for the inclusive and sustainable economic recovery that producers, consumers and governments all want. It would also complicate policy choices during the energy transition,” said McMonigle.
“Reduced investment will also make it more difficult to increase affordable access to modern energy services and improve healthy living conditions in rapidly urbanizing regions as well as remote rural areas of developing economies. While the obstacles are high for achieving adequate investment, the consequences of underinvestment are greater,” he added.
The report was written by Roger Diwan and Karim Fawaz from IHS Markit and Mason Hamilton and Allyson Cutright at the IEF. The full report is available on the IEF website.
About the IEF
The International Energy Forum is the world’s largest organization of energy ministers, composed of 71 members including both producing and consuming nations. The IEF is the global home of energy dialogue, promoting energy security, market stability and transparency. For more information visit www.ief.org
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
IHS Markit is a registered trademark of IHS Markit Ltd. and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2021 IHS Markit Ltd. All rights reserved.
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Pre-Merger ACON STWO financials now updated for regulatory compliance
WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (“ESS” or the “Company”) (NYSE:GWH), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, announced today that it has successfully completed the restatement of the legacy financial filings from Acon S2 Acquisition Corp. (“ACON”) to ensure compliance with regulatory requirements.
“The restatements required addressing certain accounting standards, specifically the reclassification of Class A shares from equity to mezzanine equity, on legacy ACON financials. Because this issue pre-dated our merger closing with ACON, the restatement had no impact on ESS’ operating company, its current operations or financial statements,” said Amir Moftakhar, CFO of ESS. “I am pleased we were able to complete and file these so quickly and am thankful for the support of ACON’s auditors in resolving this so efficiently.”
About ESS Tech, Inc.
ESS (NYSE: GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information, visit www.essinc.com.
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TAMPA, Fla.--(BUSINESS WIRE)--After a demanding testing and evaluation process, Emera Technologies announces it has received UL 9540 fire safety certification for BlockBoxTM, the distributed nanogrid energy storage and control system of its BlockEnergyTM microgrid platform.
BlockEnergy is the first utility-owned community microgrid for residential and commercial-scale applications. The fire safety certification is a significant milestone that allows BlockEnergy to be offered to utilities.
The BlockEnergy microgrid integrates renewable energy, storage, and smart distributed controls to facilitate easily scalable systems in new residential communities. The BlockBox energy storage and control system, equipped with EnerDel’s lithium-ion batteries, acts as a smart hub for the energy load it serves on the microgrid. BlockBoxes are connected on a common bus at various end-load sources, incorporating the battery management system, controls, and communications for the load, thereby serving as the integration point of various energy sources into the battery.
“Less than two years ago we completed our proof of concept for the BlockEnergy microgrid and distributed BlockBox nanogrids at Kirtland Air Force Base in New Mexico. Achieving the UL 9540 certification represents a crucial safety milestone in our engineering and development work,” says Rob Bennett, president and CEO of Emera Technologies. “We look forward to completing our first commercial and residential BlockEnergy microgrid installations in Tampa, Florida, and Fairmount Heights, Maryland in early 2022.”
Microgrids will play a significant role in achieving a renewable and resilient energy future. BlockEnergy’s utility-centric model allows utilities to own and operate distributed energy resources that can be integrated with utility grid infrastructure. The BlockEnergy system provides easy interoperability in both grid-connected mode and island mode, when outages are affecting the broader grid.
“Partnering with Emera Technologies on the BlockBox distributed battery system has been an incredible accomplishment for both teams,” says Bruce Silk, senior director of business development for EnerDel. “The EnerDel team has been impressed by Emera’s focus on safety, which aligns perfectly with our culture of safety and performance. This strategic alliance is a testament to an emerging opportunity as we expand our market and product portfolio.”
The testing and evaluation was conducted by independent, third-party lab TÜV Rheinland.
About Emera Technologies
Emera Technologies is a dedicated and nimble organization focused on developing new ways to deliver renewable energy to customers. Headquartered in Tampa, Florida, the team engages experts, research organizations, and technology leaders to capitalize on the disruptive challenges and innovation opportunities in today’s energy industry. For more information on Emera Technologies, please visit https://blockenergy.com/. Emera Technologies is a wholly owned subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with more than 2.5 million customers.
About BlockEnergy
BlockEnergy is the world’s first distributed renewable energy platform for new communities of all sizes. A truly plug-and-play energy system, BlockEnergy is comprised of a simple kit of parts, able to be installed by local utilities as a capital asset to deliver the most advanced, secure, resilient power available. Scalable, stormproof, and able to interoperate seamlessly with the local grid when needed, BlockEnergy allows new communities to benefit from a seamless platform combining rooftop solar, energy storage, and smart distributed controls. For more information, see the BlockEnergy explainer video here.
About EnerDel
EnerDel, Inc. is a privately held company headquartered in Indianapolis. It manufactures advanced lithium-ion batteries and energy storage systems for the electric grid, transportation, and industrial applications. The company’s prismatic cell design and modular stacking architecture combine to provide customers with production-ready solutions that address their power and energy storage needs. For additional information, visit EnerDel.com.
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PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (PARIS: TE) (ISIN:NL0014559478) has been awarded a substantial(1) Engineering, Procurement, and Construction (EPC) contract in consortium with TARGET Engineering by Abu Dhabi Polymers co. Ltd. (Borouge), a joint-venture between ADNOC and Borealis, for the construction of a new Ethane Cracker Unit, to be integrated in the Borouge 4 petrochemical complex in Ruwais, UAE.
The contract was signed by H.E Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and Chairman of Abu Dhabi Polymers Co Ltd. (Borouge), and Technip Energies CEO Arnaud Pieton, in presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Board of Directors of the Abu Dhabi National Oil Company (ADNOC) and the President of the French Republic, Emmanuel Macron during the French delegation’s visit to the UAE.
This EPC contract covers the delivery of a new Ethane Cracker Unit, in excess of 1,500 KTA(2), based on proprietary Technip Energies technology. The new Borouge 4 complex will be located in the Ruwais Industrial Area in Abu Dhabi. It is considered as one of the major strategic projects to enable ADNOC to meet its target growth, which would sustain its current market share in the growing polyolefin market.
This award follows the successful execution of FEED(3) competition, reflecting Technip Energies’ selective approach to be involved at a very early stage of any development and TARGET growth strategy to cooperate with major international contractors for projects in the country.
Arnaud Pieton, CEO of Technip Energies, stated: “We are extremely honored to have been selected by Borouge both as technology provider and EPC contractor and reconfirms Technip Energies long-standing leadership in ethylene and technology integration projects execution. This award also represents an appreciation of our strong historical presence in Abu Dhabi for over four decades and our commitment to enhance In-Country Value. The Borouge team competencies and knowledge of olefins plants together with Technip Energies expertise in technology and projects execution led to effective design and optimized project economics. We will also evaluate the carbon footprint of the Borouge 4 Ethane Cracker in order to minimize future CO2 emissions, reflecting Borouge and Technip Energies ambition to accelerate the transition towards a low-carbon future.”
(1) |
A “substantial” award for Technip Energies is a contract award representing between €500 million and €1 billion of revenue. |
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(2) |
KTA: kilo tons per annum. |
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(3) |
Front End Engineering and Design. |
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) traded over-the-counter in the United States.
For further information: www.technipenergies.com.
Important Information for Investors and Security holders
Forward-Looking Statement
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
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JACKSONVILLE, Fla.--(BUSINESS WIRE)--Crowley has committed to net-zero greenhouse gas emissions across all scopes by 2050, pursuing a path aligned with the latest climate science to limit global warming to 1.5 degrees Celsius.
To reach this target, Crowley estimates that it will reduce overall emissions by 4.2 million metric tons of greenhouse gases per year, or the equivalent of removing more than 900,000 cars from the road every year.
“Crowley is on a mission to become the most sustainable and innovative maritime, logistics company in the Americas,” said Tom Crowley, chairman and CEO. “Working together with our customers, suppliers, policymakers and others across our value chain, we can meet the climate crisis head on.”
As it lays the groundwork for a clean energy future, Crowley is creating partnerships across the industry with government and non-governmental organizations to collaboratively achieve decarbonization and climate action. These include the Blue Sky Maritime Coalition, which is focused on the North American maritime value chain, and the World Shipping Council focusing on the global container shipping industry.
“Crowley’s value chain accounts for over 80% of our emissions across the enterprise. Collaboration with customers and partners is key to our mutual success reaching net-zero emissions using science-based standards,” said Alisa Praskovich, vice president of sustainability. “By creating mutual accountability, we will spur innovation through the open sharing of ideas.”
Reducing GHG emissions is a mission critical issue to Crowley’s stakeholders, according to a recent materiality assessment and survey. With a net zero commitment across all three scopes, the company will operationalize its emissions reduction.
“First and foremost, achieving net-zero emissions is the right thing to do for our planet and deeply aligns with Crowley’s purpose. It is our responsibility as a leader to anticipate evolving stakeholder and customer expectations,” said Ray Fitzgerald, chief operating officer.
To achieve visibility into its total emissions footprint, Crowley has engaged Salesforce to co-develop a greenhouse gas emissions monitoring and modeling platform that will provide benchmarking, transparency and customized disclosures.
“We’re proud to be supporting Crowley, our first-to-market customer in the maritime industry, in their sustainability journey to track and reduce their carbon footprint with Salesforce Sustainability Cloud,” said Ari Alexander, GM of Salesforce Sustainability Cloud. “With Sustainability Cloud, Crowley can now have a 360 view of its carbon footprint, with automated dashboards that provide real-time, actionable insights so they can take meaningful climate action across their supply chain.”
Other activities to date include introducing an all-electric tugboat and development of alternative energy vessels and offshore wind services. The company formed a New Energy division that will provide offshore wind services in the U.S. and is developing a program that will allow customers to select more sustainable fuels.
In the coming months, Crowley anticipates submitting its long-and short-term emission reduction goals to the Science Based Targets Initiative (SBTi) and is set to release an enterprise-wide sustainability roadmap and complete its inaugural sustainability report in 2022.
About Crowley
Crowley is a privately held, U.S.-owned and -operated maritime, energy and logistics solutions company serving commercial and government sectors with more than $2.5 billion in annual revenues, over 160 vessels mostly in the Jones Act fleet and approximately 6,300 employees around the world – employing more U.S. mariners than any other company. The Crowley enterprise has invested more than $3 billion in maritime transport, which is the backbone of global trade and the global economy. As a global ship owner-operator and services provider with nearly 130 years of innovation and a commitment to sustainability, the company serves customers in 35 nations and island territories through four business units: Crowley Logistics, Crowley Shipping, Crowley Solutions and Crowley Fuels. Additional information about Crowley, its business units and subsidiaries can be found at www.crowley.com.
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Gaussin aims to establish a modern manufacturing facility for hydrogen vehicles “Made in Saudi Arabia”
Aramco sponsors first hydrogen-fueled truck to compete in Dakar Rally, in the January 2022 Dakar Rally in Saudi Arabia
DHAHRAN, Saudi Arabia & HERICOURT, France--(BUSINESS WIRE)--$ALGAU #Befastersaferandcleaner--ARAMCO, one of the world’s leading integrated energy and chemicals companies, and GAUSSIN (ALGAU - FR0013495298), a pioneer in the clean and intelligent transport of goods and people, have started a partnership in the hydrogen vehicles business.
The signing of this agreement took place in the presence of H.E. Khalid Al Falih, Saudi Arabia's Minister of Investment and H.E. Franck Riester, France's Minister Delegate for Foreign Trade and Economic Attractiveness, as well as Aramco's President and CEO, Amin H. Nasser.
Christophe Gaussin, CEO of Gaussin, was personally invited to participate in the delegation of French CEOs accompanying French President Emmanuel Macron on his state visit from December 2-4, 2021, to Qatar, the United Arab Emirates, and Saudi Arabia. The business delegation included organizations such as Airbus, Ardian, Egis, Air Liquide, Engie, GL events, HSBC and EDF.
The agreement between Aramco and Gaussin aims to establish a modern manufacturing facility for hydrogen-powered vehicles in the Kingdom of Saudi Arabia. As a first step, Gaussin and Aramco will study the feasibility of a manufacturing facility and a hydrogen distribution business to serve the Middle East region.
The two companies also agreed that Aramco’s new Advanced Innovation Center (LAB7) will be closely involved in Gaussin’s development of hydrogen-powered vehicles and the development of a remote controlled/autonomous hydrogen racing truck. LAB7 aims to integrate Aramco’s composite materials into Gaussin’s existing range of products to reduce the weight, energy consumption and cost of these vehicles.
Aramco will also be sponsoring the world’s first hydrogen-fueled racing truck, which has been developed by Gaussin and which will compete in the January 2022 Dakar Rally in Saudi Arabia – the Gaussin H2 Racing Truck (see press release, November 9, 2021) which will run as an experimental new energy vehicle. Aramco’s sponsorship of Gaussin’s participation in the Dakar Rally continues to promote low-emission transportation technology developments.
Aramco SVP of Technical Services, Ahmad Al-Sa’adi, said: “The agreement is the start of an exciting collaboration to advance and promote hydrogen as a low carbon transportation fuel. It also allows us to advance economic growth and sustainability in the Kingdom as part of the Namaat industrial investment program. Aramco is excited to be the exclusive sponsor of the Dakar Rally’s first hydrogen-fueled truck, which is a milestone for motorsports and global transportation.”
Gaussin CEO, Christophe Gaussin, said: “The Middle East is a key region for Gaussin and Saudi Arabia is crucial to transfer our technologies and know how there. It will host the next edition of the Dakar Rally and the country shares with Gaussin an ambitious determination to decarbonize mobility and to address global warming. This is why we are very proud to announce this collaboration with Aramco, one of the world’s leading integrated energy and chemicals companies. This collaboration is going to help Gaussin compete in the Dakar Rally with the world’s first hydrogen-powered race truck. It is a testimony to our shared commitment to achieving net zero carbon emissions.”
About Aramco
Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com
About GAUSSIN
GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.
In October 2021, GAUSSIN won the Dubai World Challenge for Self-Driving Transport.
GAUSSIN has been listed on Euronext Growth in Paris since 2010.
More information on www.gaussin.com.
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The agreement was signed during the French President’s official visit in Qatar.
HERICOURT, France--(BUSINESS WIRE)--$ALGAU #Befastersaferandcleaner--GAUSSIN (EURONEXT GROWTH ALGAU - FR0010342329), a pioneer of clean and smart freight transport, Gam Qatar and GWC (GWCS.QA), Qatar’s leading logistics and supply chain solutions provider, have established a partnership to test Gaussin’s zero-emission electric tractors and yard automation solutions in several GWC warehouses, including GWC Al Wukair Logistic Park in Qatar.
The agreement was signed during French President Emmanuel Macron’s official visit to Qatar.
Gaussin, Gam Qatar and GWC will conduct a test in Q1 2022 of two Gaussin zero emission tractors, the ATM38T manned and the ATM38T Autonomous equipped with the robotic arm, Gaussin’s unique technology to couple and decouple the truck from the trailer, enabling a complete yard automation process.
The test will be performed at various GWC locations in Qatar including GWC Al Wukair Logistic Park.
“By combining our deep knowledge of complex yard and terminal operations with revolutionary robotics algorithms we provide effective solutions to reduce errors, improve safety and productivity. Our resources, knowledge of logistics processes, world-class partners, and technological approaches have made us an industry leader in Yard and Terminal automation, and we are glad to test our solution with GWC, one of the leading logistics companies in the Middle East and a pioneer regarding sustainable and smart logistic solutions to measure the efficiency of our system in the context of their operations,” said Christophe Gaussin, CEO of Gaussin Group.
“We were one of the first companies in the region to establish a process improvement department consisting of streamlined process engineers, our Six-Sigma professionals worked tirelessly to improve every process in order to make it more sustainable and competitive. This is the result of our expertise built over the years as a preferred logistics partner for the public and private sectors,” said Ranjeev Menon, Group CEO of GWC. “Our alliance with Gussain - Gam Qatar reflects our commitment to innovate and pioneer in the field of logistics. This partnership aligns with our sustainability goals too. By deploying electric and autonomous yard trucks in our logistics hubs, Gaussin is giving us to offer our clientele more efficient, seamless and sustainable services. We recognise Gaussin's expertise in providing world-class and technologically-advanced services and we are confident that they will add immense value to our operations and the industry standards,” he added.
Introduction in the Middle East of the “shunting process” using 100% Electric and autonomous yard trucks
The shunting process uses a specific vehicle (yard truck) to move a designated trailer to and from a predetermined location within the yard.
The road truck decouples the tractor in the staging area from the trailer and leaves the logistics center to start another mission. The trailer is then collected by the yard truck and transferred at the quay at the right time providing asset optimization and efficiency.
Within easy reach of Hamad Port and Hamad International Airport, the GWC Al Wukair Logistics Park fosters a 1.5 million square meter park dedicated to logistics and light industry infrastructure needed for the success of micro, small, medium, and large enterprises alike. With every type of warehousing, workshops, and showrooms available, as well as access to GWC’s full range of supply chain solutions.
ATM38T
ATM38T is the only native electric tractor of the market deployed at more than 45 different sites in Europe.
Build from a blank page with the largest logistic and industrial companies, the ATM provides better TCO than diesel and diesel-converted-to-electric tractors thanks to its specific design allowing simplified and reduced maintenance compared to traditional diesel trucks.
The ATM integrates industry exclusive ergonomics and safety features. The proven battery swapping system allows continuous operations without immobilization of the vehicle for charging operations.
Yard Automation
Since 2013, Gaussin has been developing its own Autonomous Driving systems for its electric, self-driving vehicles, and has integrated world class partner systems and software to provide the most efficient turnkey solution for yard and terminal automation.
Gaussin’s Autonomous driving stack includes world-class components that enable fully autonomous operations in mixed traffic within gated areas.
The Yard automation solution that will be deployed will include the latest version of Gaussin Virtual Driver®, Gaussin Fleet Management System and the embedded robotic arm.
About GWC
Established in 2004, GWC has become the leader in logistics and supply chain solutions in the State of Qatar and one of the fastest growing companies in the region. The company offers best in class logistics and supply chain services that include warehousing, distribution, logistics solutions for hazardous materials, freight forwarding, project logistics, sporting events and equestrian logistics solutions, fine art logistics, supply chain consulting services, transportation, records management, and local and international relocation services. The company provides these services, utilizing a global freight network of more than 600 offices and a solid logistics infrastructure spanning over 3.8 million square metres. GWC is the first regional supporter and official logistics provider for the FIFA World Cup Qatar 2022™.
Our Social Media handle is @gwclogistics
Get in touch
For media related inquiries, please contact us at +974 33211010 or +974 3336 8059 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.
About GAUSSIN
GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.
In October 2021, GAUSSIN won the Dubai World Challenge for Self-Driving Transport.
GAUSSIN has been listed on Euronext Growth in Paris since 2010.
More information on www.gaussin.com.
More information on Gaussin is available on www.gaussin.com
* This document may contain forward-looking information. Such forward-looking information refers to future prospects, developments and strategies of Gaussin and is based on an analysis of expected future results and estimates of amounts that are not yet determinable to date. Forward-looking information naturally contains elements of risk and uncertainty relative to events and therefore dependent on circumstances which may or may not occur in the future. Gaussin draws your attention to the fact that forward-looking information provides no guarantee concerning its future performance or financial situation, financial results or trends in the sector in which Gaussin operates, and which may significantly differ from those proposed or suggested in the forward-looking statements contained in this presentation. Furthermore, even though the financial position of Gaussin, its performance and trends in the sector in which Gaussin operates comply with the forward-looking information contained in this presentation, such performance or trends may not be a reliable indication of the company’s future performance or prospects. Gaussin is not committed to updating or confirming analysts' expectations or estimates or to publicly correcting any information or event in order to reflect an event or circumstance eventually occurring following this presentation.
GAUSSIN
Christophe Gaussin, This email address is being protected from spambots. You need JavaScript enabled to view it.
+33(0)3.84.46.13.45
Ulysse Communication
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Rich media charging stations electrify retail and real estate industries by increasing on-site revenue
BERLIN & PARIS & ZURICH--(BUSINESS WIRE)--Volta Inc. ("Volta"), the industry leader in commerce-centric electric vehicle (“EV”) charging, announced its expansion into the European market, with an initial focus on Germany, Austria, Switzerland, and France. The announcement was made today at the NOAH Conference in Zurich.
With unique charging stations that feature high-impact, large-format digital screens located near the entrances of premier commercial locations, Volta’s network is among the most utilized in the U.S. For consumers, Volta provides seamless, reliable charging that complements their daily lives and routines. For site partners, the eye-catching displays and premium station locations help drive business by attracting more customers for longer periods of time. For advertisers, Volta stations double as an innovative, digital out-of-home advertising platform, allowing brands to reach shoppers seconds before they enter a store to make a purchase.
The build-out of Volta’s network is powered by best-in-class behavioral science and machine learning technology, allowing the company to deploy infrastructure intelligently and efficiently.
“We believe in a regenerative energy future that is clean, connected, and custom-fit to how we live our lives,” said Chris Wendel, Co-founder and President of Volta. “We’ve been honing our expertise over the past decade in the U.S., helping to catalyze one of the most significant macroeconomic shifts of our lifetime. We’re proud to see the company we’ve built extend into Europe and look forward to the many opportunities that lay ahead.”
“Volta continues to anticipate and guide the rapidly-evolving changes in consumer behavior around fueling and commerce - proving businesses can thrive while building a more sustainable future,” said Vincent Grena, Head of Volta Europe. “Our local teams of industry veterans look forward to delivering measurable commercial advantages for our site partners, and maximum convenience for EV drivers.”
Volta’s Europe expansion is driven by experienced local teams of EV charging hardware and software engineers, SaaS experts, and digital outdoor media sales leaders operating out of initial offices in Berlin and Paris.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com
Forward-Looking Statements
This press release includes forward-looking statements, which are subject to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "feel,” “believes,” expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements regarding Volta’s strategy and other future events that involve risks and uncertainties. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: intense competition faced by Volta in the EV charging market and in its content activities; the possibility that Volta is not able to build on and develop strong relationships with real estate and retail partners to build out its charging network and content partners to expand its content sales activities; market conditions, including seasonality, that may impact the demand for EVs and EV charging stations or content on Volta’s digital displays; risks, cost overruns and delays associated with construction and installation of Volta’s charging stations; risks associated with any future expansion by Volta into additional international markets; cost increases, delays or new or increased taxation or other restrictions on the availability or cost of electricity; rapid technological change in the EV industry may require Volta to continue to develop new products and product innovations, which it may not be able to do successfully or without significant cost; the risk that Volta’s shift to including a pay-for-use charging business model and the requirement of mobile check-ins adversely impacts Volta’s ability to retain driver interest, content partners and site hosts; the EV market may not continue to grow as expected; and the ability to protect its intellectual property rights; and those factors discussed in Volta’s Registration Statement on Form S-1, under the heading “Risk Factors,” filed with the Securities and Exchange Commission (the “SEC”), as supplemented by Quarterly Reports on Form 10-Q, and other reports and documents Volta files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Volta undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Media / Press
Volta Europe
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Volta U.S.
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DALLAS--(BUSINESS WIRE)--Amen Properties, Inc. (Pink Sheets: AMEN) today announced financial results for its fiscal quarter ended September 30, 2021. The Company posted quarterly revenue of $1.1 million and net income of $641 thousand. These results compare to revenue of $301 thousand and net income of $98 thousand for the same quarter last year. The Company’s improvement in profitability was caused primarily by increased oil and gas revenue resulting from improved market conditions versus 2020 when the pandemic dramatically decreased demand.
Amen also announced that the Company’s Board of Directors has approved the payment of a quarterly dividend of $7.50 per share, to be paid on December 30, 2021, to shareholders of record as of the close of business on December 23, 2021.
Finally, Amen reiterated that its Board has approved a plan whereby the Company will no longer hedge the revenue stream associated with its oil and gas royalties. “Shareholders of Amen need to understand that they hold an un-hedged long oil and gas position and should pursue their own hedging strategy if they are uncomfortable with that risk,” said Kris Oliver, Amen’s Chief Financial Officer.
The Company’s 2021 third quarter report is available for viewing or download from the company’s web site – www.amenproperties.com.
About Amen Properties:
Amen Properties owns a portfolio of cash-producing properties including real estate and oil and gas interests.
Cautionary Statement:
This document contains forward-looking statements, which involve a number of risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward-looking statements. Forward-looking statements can be identified by use of the words "expect," "project," "may," "might," potential," and similar terms. AMEN Properties, Inc. ("Amen", "we" or the "Company") cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Amen's control. These factors include, but are not limited to, our ability to implement our strategic initiatives, economic, political and market conditions and price fluctuations, government and industry regulation, U.S. and global competition and other factors. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Press and Investor Relations Contact:
Kris Oliver
(972) 999-0494
TORONTO--(BUSINESS WIRE)--$DYA #HydroCarbons--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce the implementation of its flagship HydraGEN™ Technology and its Telematics HydraLytica™ Technology with some global mining industry participants.
H2 Tek, a third-party arm’s length dealer of the Company, has indicated to dynaCERT that it has aggressively pursued its potential clients in the mining industry. H2 Tek has issued purchase orders to dynaCERT for the placement of certain HydraGEN™ Technology models suited for the mining industry, including the large engine series of HG4-C and HG6-C units.
H2 Tek has advised dynaCERT that HydraGEN™ Technology has been or is now scheduled to be delivered and installed at certain mining operations located in Russia, Chile, Peru, Brazil, Argentina, and Australia. These installations are expected to be pilot trials which will test the benefits and impacts of the HydraGEN™ units with the intent that successful pilots will result in the adoption of HydraGEN™ Technology for mining equipment fleet applications. Each pilot deploys between 2 and 3 HydraGEN™ units operating under a thorough methodology lasting up to six months.
About H2 TEK
H2 Tek™ is focused exclusively on selling and servicing dynaCERT’s HydraGEN™ Technology. H2 Tek indicates that it markets to mining companies, diesel power generation, on-road applications and off-road applications. With international partners, including Marubeni Corporation (Construction & Mining Equipment Dept.), H2 Tek currently has reached out to mining companies located in 11 countries.
David Van Klaveren VP Global Sales/Partner of H2 Tek and Joao Araujo, VP Global Operations/Partner of H2 Tek™, a third-party arm’s-length dealer of dynaCERT, collectively stated: “Our focus on large engine applications, like in mining, has the opportunity to significantly contribute to the reduction of carbon emissions and pollution in their environment. Certain large mining vehicles can consume more than 1,000,000 litres of fuel per year, which, with assumed fuel and emission reductions of 12%, could offset up to 300 tonnes of CO2e per year. We look forward to playing an important role in helping mine operators achieve their carbon emission reduction targets.”
Ed Cordeiro, Director of Sales, Americas, of dynaCERT stated, “H2 Tek, our dealer, has made dynaCERT’s HydraGEN™ Technology a possible leading solution for some mining companies in their effort to reduce the carbon footprint of mine operations. Our Carbon Emission Reduction Technology systems produce hydrogen gas from distilled water for mining operations which have shown to simultaneously target economic benefits of reduced fuel consumption and the resulting environmental benefits of emissions reductions of customers.”
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
SANTA MONICA, Calif--(BUSINESS WIRE)--Trinity Fruit Company is one of the premier growers, packers and shippers of fresh fruits in California’s Central Valley. They feature a full line of California fruits supported by a network of worldwide growers. Committed to practicing sustainable agriculture and production, their facility has been outfitted with motion sensor lighting and solar panels to displace nearly 100% of the company’s electricity.
With zero dollars down from Trinity, Scale Microgrid Solutions will deploy their Rapid Response Modular Microgrid (R2M2), incorporating solar, energy storage, smart controls, and backup dispatchable generation to provide clean resilience and further reduce the overall environmental footprint of the facility. Scale’s platform has been designed with simplicity in mind. Components are manufactured and tested off site and integrated seamlessly with the facility.
Scale will build on to the existing 1320 kW solar PV system with an additional 490 kW. They will also incorporate a 1,072 kW/2,145 kWh battery energy storage system and a 1200 kW dispatchable natural gas system.
The service agreement will not only provide uninterruptible power and sustainability but will also save Trinity over $3 million dollars during the scope of the contract.
Tim Hade, Co-Founder and COO of Scale Microgrid Solutions says, “California is currently facing multiple crises including some of the largest ever wildfires and extreme heat waves leading to an energy shortage. Because of this, we are commissioning R2M2 in California at record speed. By partnering with Trinity Fruit Company, we’re able to be a solution to the problem of increasing demand for food needing to be met with increasing energy reliability and efficiency.”
About Scale Microgrid Solutions: Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge distributed energy assets that offer cheaper, cleaner, and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers, and OEMs, while also directly helping large energy-consuming customers to take charge of their energy infrastructure and future-proof their businesses.
Nicole Green
Director, Marketing and Branding
Scale Microgrid Solutions
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HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the following investor conferences:
The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
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