HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE: NRG) is pleased to announce that it is partnering with Google to make it easier for customers to support a clean energy future. This supports NRG’s customer-focused strategy by applying the company’s unmatched ability to deliver insights, innovations and customer experience to help residential customers power their homes and lives. The collaboration will also leverage NRG’s longstanding expertise in commercial energy, delivering comprehensive energy solutions to businesses and partnering with them to achieve their sustainability goals.
NRG will include Nest Renew a new, innovative Google service as an option for eligible customers in Texas. This tool will help customers manage and make choices about their energy usage, deepen their sustainability journey, and track the positive difference they are making, right from their homes. The service works with compatible Nest thermostats1 to help customers automatically shift their heating and cooling electricity usage to times when the grid is cleaner2, in turn allowing energy companies to better manage energy fluctuations and drive a cleaner, more resilient energy future. Nest Renew was built on the premise that to support the fight against climate change, today’s grids need to be more flexible and resilient.
“NRG is proud to partner with Google and empower our customers with additional options for supporting clean energy,” said Mauricio Gutierrez, President and CEO of NRG Energy. “Our companies share a longstanding commitment to addressing and combating the impacts of climate change with innovative products and solutions, such as Google Nest Renew. In this way, we’re helping our customers make their own impact on climate, easy.”
Nest Renew marks the latest development in NRG and Google’s longstanding collaboration, which began in 2012 with the goal of developing tech-enabled energy offerings that make power a part of customers’ interconnected lives at work and at home.
In addition to providing Nest Renew to eligible residential customers, NRG will leverage its expertise in commercial energy to support Nest Renew services by offering Google Renewable Energy Certificates (RECs) over the course of this program. RECs are derived from renewable resources and provide high impact carbon-reduction and sustainability benefits.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are subject to certain risks, uncertainties and assumptions and typically can be identified by the use of words such as “expect,” “estimate,” “should,” “anticipate,” “forecast,” “plan,” “guidance,” “outlook,” “believe” and similar terms. Although NRG believes that the expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially.
NRG undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
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1 Nest Renew requires the 3rd generation Nest Learning Thermostat, Nest Thermostat E, or the newest Nest Thermostat connected to a Google account (sold separately).
2 Available in areas served by major continental U.S. grids.
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TORRANCE, Calif.--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQX: GCEH), a vertically integrated renewable fuels company focused on expanding its proprietary Camelina production, today announced that it has changed its independent registered public accounting firm to Grant Thornton LLP (“Grant Thornton”).
The change of the Company’s independent registered public accounting firm was approved by the Audit Committee of the Board of Directors, and was not the result of any disagreement between the Company and its prior auditor on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. There were no qualifications or modifications to the opinions in our prior auditor’s, or its predecessor’s, reports for the two most recently completed financial years preceding the date of the change in auditor.
“Due to our rapid growth and expansion, the Company has transitioned to a larger, international accounting firm in Grant Thornton LLP,” said GCEH’s Chief Financial Officer, Ralph Goehring. “The Audit Committee’s decision was also based on Grant Thornton’s knowledge in auditing alternative energy companies.”
About Global Clean Energy Holdings, Inc.
Global Clean Energy Holdings, Inc. (“GCEH”) is a uniquely positioned vertically integrated renewable fuels company. GCEH’s farm-to-fuel strategy has been in place since the inception of its business, to control the full integration of the entire biofuels supply chain from the development, production, processing, and transportation of feedstocks through to the refining and distribution of renewable fuels. GCEH is retooling and constructing its renewable diesel refinery in Bakersfield, California, which when completed in early 2022 will be the largest renewable fuels facility in the western United States and the largest in the country that produces renewable fuels from nonfood based feedstocks. More information can be found online at www.gceholdings.com.
Global Clean Energy Holdings, Inc.
Natalie Findlay
(424) 318-3518
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SANTA MONICA, Calif.--(BUSINESS WIRE)--i(x) investments (“i(x)” or the “Company”), a permanently capitalized holding company focused on Energy Transition and Sustainability in the Built Environment (“SIBE”), is pleased to announce the listing on The New York Stock Exchange of Enphys Acquisition Corp. (“Enphys”), a blank check company (SPAC) targeting renewable energy businesses in Ibero-America, which it has co-sponsored with LAIG Investments.
Enphys Acquisition Corp plans to raise $300,000,000 with the pricing of its initial public offering today of 30,000,000 units at $10.00 per unit. The company increased its original plans to raise $250,000,000 through offering 25,000,000 units at $10.00 per unit due to increased investor demand and will pursue a broad range of potential investments in the public and private markets.
Enphys intends to focus on opportunities across the energy transition theme, in sectors such as renewable energy generation, energy storage, smart mobility, advanced fuels and carbon mitigation sectors, as well as other affiliated services, industries, and technologies, evaluating firms which might be undergoing a transition towards renewable technologies.
To date, “anchor investors” in the SPAC include: Alberta Investment Management Corp., Akaris Global Partners, LP, Ancora Advisors, LLC, Diameter Capital Partners LP, Fir Tree Capital Management (which is an investor in our sponsor), Polar Asset Management Partners, Sea Otter Securities Group LLC and the Teacher Retirement System of Texas, or funds affiliated with such anchor investors.
Steve Oyer, CEO of i(x) investments said: “i(x)’s investment in the Enphys team represents the kind of institutional quality and scalable investment in energy transition in the Latam growth markets that we believe can move us to a net zero future.”
The Enphys team brings more than 105 years of combined experience consisting of founders Jorge de Pablo, CEO, Carlos Guimarães, Chairman, Pär Lindström, CFO and CIO of i(x) investments and Matías de Buján, COO. The management team will undertake a proactive, thematic sourcing strategy and will focus its efforts on companies where it believes the combination of founders’ operating experience, deal making, investing track record, professional relationships and sector expertise can be catalysts to enhance the growth potential and unlock full value of a target business, as well as generate attractive returns to shareholders.
The Enphys team, which has been one of the most active investors in the energy transition sub-sectors (renewable energy generation, energy storage, and smart mobility) for the past fifteen years, sees a significant growth outlook for the Ibero-American region. The team believes Latin America region will profit from the energy transition theme for four primary reasons: 1. The region is endowed with top-class renewable energy resources; 2. Renewable energy investments enjoy wide social and political support 3. It benefits from supportive access to private international, local and multilateral financing and; 4. Regardless of economic cycles, secular growth demographics and urbanization drives sustainable growth in energy consumption.
Aligned with i(x) investments areas of focus, Enphys plans to take advantage of the energy transition of the global energy sector from fossil-based systems of energy generation and consumption to zero-carbon renewable energy sources. The increasing penetration of renewables into the energy supply mix, the onset of electrification and improvements in energy storage are all key drivers of the energy transition.
In addition to Enphys, i(x)’s investments includes WasteFuel (waste to fuel) and, indirectly, Carbon Engineering (carbon to value), Context Labs (environmental data) and investments in sustainable real estate firms, MultiGreen Properties and Sustainable Living Innovations.
Jorge de Pablo, CEO of Enphys said:
“We believe i(x)’s impact investing core values are a perfect fit for LAIG’s vision and business philosophy. This partnership marks an important milestone in the history of our firm. We are very excited with the powerful skill set formed by the combination of both of our organizations and the opportunity for us to together build the Latin American energy transition leader.”
Pär Lindström, CFO of Enphys and CIO of i(x) investments, said:
“LAIG’s unique deal access, track record, and ability to execute in these specific markets and the long-term goal of building the leading renewable energy platform in Latin America makes this partnership extremely attractive for us.”
Today’s announcement from Enphys can be found here: https://www.prnewswire.com/news-releases/enphys-acquisition-corp-announces-pricing-of-upsized-300-million-initial-public-offering-301393656.html
About i(x) investments
Founded in 2015, i(x) investments is a permanently capitalized holding company for investors who want to create long-term enterprise value in combination with positive, measurable social impact. i(x) believes the world’s biggest problems are also the biggest market opportunities and invests in areas of human need. i(x)’s current holdings focus on the Energy Transition and Sustainability in the Built Environment. The company uses a multi-strategy investment approach.
About LAIG Investments
Founded in 2008, LAIG invests in companies in the energy transition sector across Latin America, with a growing exposure to North America, Europe and Israel, establishing a proven track-record of building sustainable and fast-growing businesses. LAIG currently controls and operates assets in renewable energy generation, smart mobility and energy efficiency.
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WEST NYACK, N.Y.--(BUSINESS WIRE)--SUEZ’ award-winning customer conservation program has a new partner – The Home Depot.
The program, now promoted in six Home Depot stores in New York State – Brewster, Nanuet, New Rochelle, Port Chester, West Nyack and Yonkers – encourages its customers to replace outdated fixtures including showerheads, toilets, and smart irrigation controllers with new high-performance models that save water and energy. Customers have redeemed more than 8,000 rebates since the program’s launch in 2017.
“We’re excited to partner with The Home Depot to help educate customers about available conservation rebates,” said Chris Graziano, vice president and general manager of SUEZ operations in New York. “Promoting this program in-store will help customers learn about opportunities to save water and money.”
The U.S. Environmental Protection Agency (EPA) recognized SUEZ with a 2020 WaterSense Excellence Award for promoting WaterSense and water efficiency in 2019.
“Our program is designed to help customers conserve water today and preserve natural resources for tomorrow,” said Graziano. “The financial benefits of this program to our customers are twofold. By upgrading to water-saving products, customers receive substantial rebates and also lower their water bills in future months.”
A wide variety of WaterSense and ENERGY STAR products are eligible for significant rebates, ranging from $15 for showerheads and $50 for smart irrigation controllers to $100 for washing machines and toilets. SUEZ customers can purchase a qualified water-saving product at any retailer and apply for a rebate at http://www.suezconserve.com. SUEZ’ program also allows commercial, multi-family and industrial customers to request free water efficiency assessments to identify opportunities to conserve water and save money. Water-saving fixtures including urinals, commercial toilets and pre-rinse spray valves are some of the options available to businesses that use large amounts of water.
For additional information about the rebate program, visit www.SUEZconserve.com.
SUEZ currently serves about 500,000 people in Rockland and Westchester counties.
About SUEZ North America:
SUEZ North America operates across all 50 states and Canada with 2,800 employees dedicated to environmental sustainability and smart and sustainable resource management. The company provides drinking water, wastewater and waste collection service to nearly 7 million people on a daily basis; treats 560 million gallons of water and over 460 million gallons of wastewater each day; delivers water treatment and advanced network solutions to 16,000 industrial and municipal sites; processes 160,000 tons of waste for recycling; rehabilitates and maintains water assets for more than 6,000 municipal and industrial customers; and manages $4.1 billion in total assets. The company posted revenues of $1.1 billion in 2020 and is a subsidiary of Paris-based SUEZ.
About SUEZ:
Since the end of the 19th century, SUEZ has built expertise aimed at helping people to constantly improve their quality of life by protecting their health and supporting economic growth. With an active presence on five continents, SUEZ and its 90,000 employees strive to preserve our environment’s natural capital: water, soil, and air. SUEZ provides innovative and resilient solutions in water management, waste recovery, site remediation and air treatment, optimizing municipalities’ and industries’ resource management through “smart” cities and improving their environmental and economic performance. The Group delivers sanitation services to 64 million people and produces 7.1 billion m3 of drinking water. SUEZ is also a contributor to economic growth, with more than 200,000 jobs created directly and indirectly on an annual basis, and a provider of new resources, with 4.2 million tons of secondary raw materials produced. By 2030, the Group is targeting 100% sustainable solutions, with a positive impact on our environment, health and climate. SUEZ generated total revenue of €17,2 billion in 2020.
Find out more about SUEZ North America
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DUBLIN--(BUSINESS WIRE)--The "Gas Engine Market Research Report by Application, by Fuel Type, by Power Output, by Region - Global Forecast to 2026 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Gas Engine Market size was estimated at USD 3,732.64 Million in 2020 and expected to reach USD 3,947.65 Million in 2021, at a Compound Annual Growth Rate (CAGR) 6.09% to reach USD 5,324.45 Million by 2026.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Gas Engine Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Global Gas Engine Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Gas Engine Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Gas Engine Market?
4. What is the competitive strategic window for opportunities in the Global Gas Engine Market?
5. What are the technology trends and regulatory frameworks in the Global Gas Engine Market?
6. What is the market share of the leading vendors in the Global Gas Engine Market?
7. What modes and strategic moves are considered suitable for entering the Global Gas Engine Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/lnlwlw
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Ontario project seeks to cut consumer energy costs, lower emissions and bolster electric grid’s resilience, reliability
OVERLAND PARK, Kan.--(BUSINESS WIRE)--As the electric industry addresses growing demands for lower carbon footprints and heightened reliability and resilience, a Canadian community is entrusting Black & Veatch to transform its power system into a technology-driven, enhanced “smart grid” meant to lower consumer costs and slash greenhouse gas emissions.
Billed as the first such community-wide utility effort in Canada, the Sault Smart Grid project for PUC Distribution Inc. – the local electricity distribution utility in Sault Ste. Marie, Ontario – includes Black & Veatch’s designing and deploying a state-of-the-art network with proven technologies that enhance reliability and efficiency, improve outage management and reduce energy consumption.
That more intuitive grid, expected to be completed by late 2022, positions PUC to accommodate new distributed energy resources (DERs) such as rooftop solar, battery storage, co-generation and electric vehicles (EVs) while supporting smart city and other community growth initiatives.
Once operational, the smart grid will offer two key components – voltage optimization and distribution automation. Voltage optimization constantly regulates a consumer’s electricity supply and gives them precisely the voltage they need, saving energy and lowering electric bills. Distribution automation essentially embeds intelligence into the system, using a network of sensors and controls that provide greater reliability, flexibility and agility. Those features enable the system’s “self-healing” during power disruptions, minimizing the size of the outage and the number of affected customers.
“As the energy sector evolves, with broader investments in decarbonation, reliability and resiliency, this comprehensive smart grid initiative represents the promise of lowering generation and distribution costs while propelling the community’s modernization,” said Gary Johnson, Black & Veatch’s regional director. “Sault Ste. Marie is leading the charge in Canada, and we’re confident other utilities, regions and communities will follow suit once they see the enormous benefits.”
“With expectations that we’ll see more demand for electric vehicle hookups, rooftop solar energy and other new technology in the next decade, the Sault Smart Grid project smart grid system will help the city modernize and leap forward in meeting those challenges and opportunities,” added Kevin Bell, PUC’s vice-president. “We are excited about this project bringing our customers an energy system that is more reliable, resilient and responsive.”
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.
About PUC Distribution Inc.
PUC Distribution distributes electricity to residences and businesses within the boundaries of the city of Sault Ste. Marie, the Batchewana First Nation (Rankin Reserve), Prince Township and parts of Dennis Township. The management, maintenance and operations of the distribution system is carried out by PUC Services Inc. For more details about PUC, click here.
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) announced today that it has been awarded a 211-day extension to its bareboat charter agreement with ARO Drilling for VALARIS JU-36 (Charles Rowan), a standard duty jackup. The extension is in direct continuation of the existing contract and, as a result, the VALARIS JU-36 will be under contract through March 2022. ARO Drilling’s contract with Aramco has been extended for the same period.
About Valaris
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "project," "could," "may," "might," “should,” “will” and similar words. Such statements are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the Company’s liquidity and ability to access financing sources, debt restrictions that may limit our liquidity and flexibility, the COVID-19 outbreak and global pandemic, the related public health measures implemented by governments worldwide, the volatility in oil prices caused in part by the COVID-19 pandemic and the decisions by certain oil producers to reduce export prices and increase oil production, and cancellation, suspension, renegotiation or termination of drilling contracts and programs. In particular, the unprecedented nature of the current economic downturn, pandemic, and industry decline may make it particularly difficult to identify risks or predict the degree to which identified risks will impact the Company’s business and financial condition. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, as updated in our subsequent quarterly reports on Form 10- Q, which are available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contact:
Tim Richardson
Director - Investor Relations
+1-713-979-4619
SHANGHAI--(BUSINESS WIRE)--#SolidEnergy--SES Holdings Pte. Ltd. (SES), a global leader in the development and initial production of high-performance hybrid lithium-metal rechargeable (Li-Metal) batteries for electric vehicles (EVs) and other applications, has established the world’s first pilot production line capable of scaling up high-concentration, solvent-in-salt electrolyte production.
The pilot production line is capable of synthesizing SES’s proprietary solvent and manufacturing a high-concentration solvent-in-salt electrolyte formulation designed specifically for SES’s hybrid Li-Metal batteries for automotive use. The facility is currently capable of producing 5 tons of electrolyte per year, with additional production capacity expansion of up to 250 tons of electrolyte per year to meet future hybrid Li-Metal battery demand.
Unlike all-solid-state batteries, SES’s battery technology features high-concentration solvent-in-salt electrolytes with proprietary solvent molecules that have low volatility and are self-extinguishing. SES’s unique electrolyte formulation is stable with Li-Metal and enables hybrid Li-Metal batteries that have high energy density over a wide range of temperature and power requirements, and enhanced cycle life and safety.
“This pilot production capability at our Shanghai facility will ensure that SES will be prepared to meet electrolyte supply needs for our hybrid Li-Metal batteries,” said Qichao Hu, Founder & CEO, SES. “Our electrolyte pilot production capability is a key enabler for SES’s development of automotive-sized hybrid Li-Metal batteries that will power the next generation of electric vehicles.”
Earlier in 2021, SES announced the signing of “A-sample” joint development agreements with General Motors and Hyundai Motor Company. These agreements are a sign of confidence in SES’ hybrid Li-Metal technology as SES is the only company working on Li-Metal technology that has entered into A-sample joint development agreements for Li-Metal technology with major OEMs. The pilot production of electrolyte will help SES accelerate its automotive battery cell development for current and future automotive partners.
Coupled with proprietary and unique AI monitoring software that continually monitors and maintains battery safety, these intelligent batteries are designed to meet the demands of automotive manufacturers looking to introduce energy-dense batteries in long-range EVs.
SES is a next-generation battery technology company spun-off from Massachusetts Institute of Technology (MIT). Headquartered in Singapore, SES currently operates two battery prototyping facilities in the United States and China.
SES entered into a definitive agreement for a business combination with Ivanhoe Capital Acquisition Corp. (NYSE: IVAN), a publicly listed special purpose acquisition company (SPAC) on July 13, 2021. The transaction will create the first publicly traded hybrid Li-Metal battery company that combines the high energy density of Li-Metal with cost effective manufacturability of Li-ion at scale.
About SES
SES is a global leader in the development and initial production of high-performance Li-Metal rechargeable batteries for electric vehicles and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms, and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Singapore and has operations in Boston, Shanghai and Seoul.
About Ivanhoe Capital Acquisition Corp.
Ivanhoe Capital Acquisition Corp. (NYSE: IVAN) is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Ivanhoe was formed to seek a target in industries related to the paradigm shift away from fossil fuels towards the electrification of industry and society.
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Forward-looking statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements.” Forward-looking statements can generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” and other similar expressions that predict or indicate future events or events or trends that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the development and commercialization of SES’s products, the amount of capital and other benefits to be provided by the transaction, estimates and forecasts of other financial and performance metrics, and projections of market opportunity and market share. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of SES's and Ivanhoe's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of SES and Ivanhoe. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the business combination, including the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the shareholders of SES or Ivanhoe is not obtained; the failure to realize the anticipated benefits of the business combination; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES's battery technology and the timing and achievement of expected business milestones; the effects of competition on SES's business; the risk that the business combination disrupts current plans and operations of Ivanhoe and SES as a result of the announcement and consummation of the business combination; the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and retain its management and key employees; risks relating SES’s history of no revenues and net losses; the risk that SES’s joint development agreements and other strategic alliances could be unsuccessful; risks relating to delays in the design, manufacture, regulatory approval and launch of SES’s battery cells; the risk that SES may not establish supply relationships for necessary components or pay components that are more expensive than anticipated; risks relating to competition and rapid change in the electric vehicle battery market; safety risks posed by certain components of SES’s batteries; risks relating to machinery used in the production of SES’s batteries; risks relating to the willingness of commercial vehicle and specialty vehicle operators and consumers to adopt electric vehicles; risks relating to SES’s intellectual property portfolio; the amount of redemption requests made by Ivanhoe's public shareholders; the ability of Ivanhoe or the combined company to issue equity or equity-linked securities or obtain debt financing in connection with the business combination or in the future and those factors discussed in Ivanhoe's annual report on Form 10-K, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 31, 2021, under the heading "Risk Factors," and other documents of Ivanhoe filed, or to be filed, with the SEC relating to the business combination. If any of these risks materialize or Ivanhoe's or SES's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Ivanhoe nor SES presently know or that Ivanhoe and SES currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Ivanhoe's and SES's expectations, plans or forecasts of future events and views only as of the date of this press release. Ivanhoe and SES anticipate that subsequent events and developments will cause Ivanhoe's and SES's assessments to change. However, while Ivanhoe and SES may elect to update these forward-looking statements at some point in the future, Ivanhoe and SES specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Ivanhoe's and SES's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Additional Information
This press release relates to the proposed business combination between Ivanhoe and SES. This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Ivanhoe has filed a Registration Statement on Form S-4 with the SEC, which includes a document that serves as a joint prospectus and proxy statement, referred to as a proxy statement/prospectus, and which has not yet been declared effective. A proxy statement/prospectus will be sent to all Ivanhoe shareholders. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Ivanhoe will also file other documents regarding the proposed business combination with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF IVANHOE ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.
Investors and security holders will be able to obtain free copies of the registration statement, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Ivanhoe through the website maintained by the SEC at www.sec.gov. The documents filed by Ivanhoe with the SEC also may be obtained free of charge upon written request to Ivanhoe Capital Acquisition Corp., 1177 Avenue of the Americas, 5th Floor, New York, New York 10036.
Participants in the Solicitation
Ivanhoe, SES and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Ivanhoe’s shareholders in connection with the proposed business combination. You can find information about Ivanhoe’s directors and executive officers and their interest in Ivanhoe can be found in Ivanhoe’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021. A list of the names of the directors, executive officers, other members of management and employees of Ivanhoe and SES, as well as information regarding their interests in the business combination, are contained in the Registration Statement on Form S-4 filed with the SEC by Ivanhoe. Additional information regarding the interests of such potential participants in the solicitation process may also be included in other relevant documents when they are filed with the SEC. You may obtain free copies of these documents from the sources indicated above.
Gaby Lechin
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Office: 720-230-6399
HOUSTON--(BUSINESS WIRE)--Prevailion, a global leader in Compromise Breach MonitoringTM powered by counterintelligence, today announced the official launch of Omega, a new cybersecurity capability for enterprises and governments that exposes and validates previously undetected active malware compromises - including ransomware - across cloud deployments and remote workforce assets.
“As a growing remote workforce has fueled investment in cloud infrastructure, threat actors are using the ‘black box’ nature of these SaaS deployments to stay hidden from modern security tools and to proliferate ransomware and other attacks,” said Karim Hijazi, CEO of Prevailion. “The current methodology for monitoring and securing cloud workflows and remote workers paints an incomplete picture that limits an organization’s ability to improve its overall security posture and reduce its risk.”
Prevailion’s Omega technology addresses this fundamental visibility challenge in the cloud by accurately detecting malware that evades other security solutions. For the first time, security teams can now see beyond the cloud or ISP to track malware infections that leverage dynamic and obfuscated IP addressing. This rapid detection can successfully prevent the encryption stage of a ransomware attack from taking place, in addition to other significant events like data theft, even after an organization’s assets have already been infected.
Prevailion’s existing solutions are already unique in their approach to infiltrating and monitoring the attacker’s command-and-control (C2 or CnC) servers and communications to covertly expose malware infections from the threat actor’s point-of-view. They also do not require any physical presence or access to an organization’s network when helping to evaluate its immediate risk of damage or loss based on existing blind spots. This innovative approach empowers security teams to understand active risks and threats to their environments that have gone undetected and it allows them to continuously improve their security posture against future threats. In addition, Prevailion’s solutions can monitor existing or potential supply chain partners for changes in their security posture and provide visibility into an organization’s potential risk of a security incident.
Omega collects critical metadata from the malware payload, including:
-Victim IP address
-Destination IP address
-Port
-Protocol
-UUID
-UserAgent
-Username
-Password
-PC name
-OS type (Windows, macOS)
-C2 domain
-Malware type
-Threat actor
-Malicious beacon activity (total number and frequency)
Prevailion’s advanced solutions are powered by a global cloud-based sensor network, Prevailion’s Adversary Counterintelligence Team (PACT) and its unique command-and-control infiltration process. The ability to “follow” the malware from the attacker to the organization itself can provide an understanding of blind spots in current security coverage and an unprecedented level of insights into how and what the attacker is doing as part of its attack campaign. This type of malware visibility and validation is provided to security teams to reduce the time and effort it takes to identify the true nature and severity of the attack and accelerate immediate response to threats before full detonation.
For more details about how Prevailion’s Omega technology can help organizations accelerate their mean-time-to-detection (MTTD) and mean-time-to-response (MTTR), through greater visibility into active malware that stays hidden within an organization, visit: https://www.prevailion.com/omega-technology/
See an informative discussion between Jon Oltsik, Senior Principal Analyst & ESG Fellow ESG Research, and Prevailion’s Founder and CEO on “Using Counterintelligence to Monitor for Compromises and Accelerate Response” here: https://www.brighttalk.com/webcast/18938/499655.
ABOUT PREVAILION:
Prevailion is the world’s first Continuous Breach MonitoringTM company, transforming the way organizations approach compromise detection and breach prevention to drastically improve security operations. Through next-level tailored intelligence and a zero-touch platform, Prevailion provides a full view of confirmed “Evidence of Compromise'' (EOC) for customers and their partner ecosystems. Prevailion is funded by AllegisCyber Capital, DataTribe, Allstate Strategic Ventures, Legion Capital, Irongrey and Accenture Ventures. To learn more about Prevailion, visit www.prevailion.com.
Michael Sias
Firm 19 for Prevailion
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954-361-3963
HOUSTON--(BUSINESS WIRE)--The Board of Directors of Murphy Oil Corporation (NYSE: MUR) today declared a quarterly cash dividend on the Common Stock of Murphy Oil Corporation of $0.125 per share, or $0.50 per share on an annualized basis. The dividend is payable on December 1, 2021, to stockholders of record as of November 15, 2021.
ABOUT MURPHY OIL CORPORATION
As an independent oil and natural gas exploration and production company, Murphy Oil Corporation believes in providing energy that empowers people by doing right always, staying with it and thinking beyond possible. Murphy challenges the norm, taps into its strong legacy and uses its foresight and financial discipline to deliver inspired energy solutions. The company sees a future where it is an industry leader who is positively impacting lives for the next 100 years and beyond. Additional information can be found on the company’s website at www.murphyoilcorp.com.
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identified through the inclusion of words such as “aim”, “anticipate”, “believe”, “drive”, “estimate”, “expect”, “expressed confidence”, “forecast”, “future”, “goal”, “guidance”, “intend”, “may”, “objective”, “outlook”, “plan”, “position”, “potential”, “project”, “seek”, “should”, “strategy”, “target”, “will” or variations of such words and other similar expressions. These statements, which express management’s current views concerning future events or results, are subject to inherent risks and uncertainties. Factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement include, but are not limited to: macro conditions in the oil and gas industry, including supply/demand levels, actions taken by major oil exporters and the resulting impacts on commodity prices; increased volatility or deterioration in the success rate of our exploration programs or in our ability to maintain production rates and replace reserves; reduced customer demand for our products due to environmental, regulatory, technological or other reasons; adverse foreign exchange movements; political and regulatory instability in the markets where we do business; the impact on our operations or market of health pandemics such as COVID-19 and related government responses; other natural hazards impacting our operations or markets; any other deterioration in our business, markets or prospects; any failure to obtain necessary regulatory approvals; any inability to service or refinance our outstanding debt or to access debt markets at acceptable prices; or adverse developments in the U.S. or global capital markets, credit markets or economies in general. For further discussion of factors that could cause one or more of these future events or results not to occur as implied by any forward-looking statement, see “Risk Factors” in our most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K that we file, available from the SEC’s website and from Murphy Oil Corporation’s website at http://ir.murphyoilcorp.com. Murphy Oil Corporation undertakes no duty to publicly update or revise any forward-looking statements.
Investor Contacts:
Kelly Whitley, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9107
Megan Larson, This email address is being protected from spambots. You need JavaScript enabled to view it., 281-675-9470
OptaSense Products Deliver Clearer Picture of the Reservoir with Fiber-Optic
ROANOKE, Va.--(BUSINESS WIRE)--#Luna--Luna Innovations (NASDAQ: LUNA), a global leader in advanced optical technology, today announced a new production profiling capability based on Luna’s OptaSense fiber optic sensing products. The new capability is a result of the joint development and licensing of ConocoPhillips’ patented transient analysis technology in combination with Luna’s high-sensitivity, distributed temperature measurements.
The solution increases the accuracy of determining individual cluster oil production in unconventional wells and can be deployed with either permanent or temporary deployment options. This enables the identification of features in producing wells that are not easily detected by other temperature or acoustic sensing tools alone. Continuous refinement of the tools and increased deployment in the field is yielding an even clearer picture of producing conditions in various types of reservoirs.
“We are proud of our innovative and industry-enhancing relationship with ConocoPhillips to further expand the applications of fiber-optic technology in the Oil & Gas business worldwide,” said Luna’s President and CEO, Scott Graeff. “This collaboration provides us a key reservoir profiling solution that solidifies Luna’s position as the leader of fiber-based production monitoring services in the oil and gas market.”
Luna’s OptaSense products deliver a variety of technologies that provide analysis and answer products for completion and production optimization. Collaborations with industry partners like ConocoPhillips continue to grow not just the science but, more importantly, the commercialization of tools that are used to assess production in the most complex reservoirs.
About Luna
Luna Innovations (NASDAQ: LUNA) is a leader in optical technology, committed to serving its customers with unique capabilities in high-performance, fiber-optic-based sensing, measurement, testing and control products for the aerospace, transportation, infrastructure, security, process control, communications, silicon photonics, defense, and automotive industries, among others. Luna is organized into two business segments, which work closely together to turn ideas into products: Lightwave and Luna Labs. Enabling the future with fiber, Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market. www.lunainc.com
Forward Looking Statements
The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include Luna’s expectations regarding accuracy and technological capabilities and potential performance improvements, market position and value related to its technology and/or products. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of Luna may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, changes in market needs and technological challenges and other risks and uncertainties set forth in Luna’s periodic reports and other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov and on Luna’s website at www.lunainc.com. The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.
Allison Woody
Phone: 540-769-8465
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
DALLAS--(BUSINESS WIRE)--Elk Range Royalties, LP (“Elk Range”) is pleased to announce it has acquired certain Permian Basin royalty interests (“the Acquired Assets”) from an undisclosed seller.
The Acquired Assets include roughly 2,600 core net royalty acres (“NRAs”) evenly split between the Delaware and Midland Basins with most of the interests located in Loving, Reeves, Upton and Midland Counties, Texas and Lea County, New Mexico. There are approximately 250 producing horizontal wells and over 650 remaining undeveloped locations on the Acquired Assets. LTM cash flow on the Acquired Assets was $10.8mm and includes top operator exposure to Devon, Pioneer and Endeavor. Elk Range funded the acquisition through a combination of its equity commitment from NGP Royalty Partners, LP and its credit facility with Texas Capital Bank.
Charlie Shufeldt commented, “We are excited to acquire a core Permian Basin royalty package in a very active market environment. The blend of existing cash flow and line of sight to near-term development make this position ideal for Elk Range and the NGP Royalty Partners.”
Kirkland & Ellis served as legal counsel for Elk Range on the transaction.
About Elk Range Royalties
Elk Range is led by Charlie Shufeldt (CEO), Clinton Koerth (Vice President of Land and Business Development) and Jeff Stewart (Vice President of Engineering). Elk Range manages a portfolio consisting of more than 30,000 NRAs with an interest in over 5,000 horizontal wells across the Permian, Anadarko, Haynesville and DJ Basins under the Elk Range Royalties, Luxe Royalties, 89 Energy II Minerals and Land Run Minerals platforms.
For more information visit www.elkrange.com.
About NGP
Founded in 1988, NGP is a premier private equity firm with over $20 billion of cumulative equity commitments organized to make strategic investments in the energy industry.
For more information visit www.ngpenergycapital.com.
Charlie Shufeldt
(972) 432-1340
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New revenue stream highlights iSun’s continued execution of its strategic growth plan
WILLISTON, Vt.--(BUSINESS WIRE)--$isun #cleanenergy--iSun, Inc. (NASDAQ:ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50 years of construction experience in solar, electrical and data services, announced today that it has secured a $30 million commitment from Fusion Renewable (“Fusion”) for development and professional services.
Highlights
iSun continues to expand its industry leading portfolio of solar services and products. In April, iSun acquired the intellectual property of Oakwood Construction Services, enabling their entry into the rapidly growing solar development and professional services market. Unlike EPC services, development and professional services occur prior to the commencement of construction and are not contingent upon a project proceeding to construction status. Similarly, development and professional services enhance cash-flows and margins on a month-to-month basis.
The announcement marks both iSun and Fusion’s continued commitment to bring US solar projects to completion. Last month, iSun announced Fusion’s award of development and professional services work on 566MW of solar projects across eleven project sites in the United States. Per the terms of these contracts, iSun will perform development and professional services on projects acquired by Fusion at various pre-construction phases. Upon completion of the development and professional services, iSun will retain the rights for all construction services. The newly announced $30 million commitment includes approximately $8.25 million in previously executed contracts. The $30 million in new revenue stream is expected to be recognized over the next 12 months.
iSun’s 50-year history of providing high quality and innovative electrical contracting, solar, data and telecom services on a fully integrated basis helps it deliver projects on time and within budget. The Company’s often repeat client base includes leading institutions from the U.S. Federal Government, municipalities, universities, independent power producers, utilities, and Fortune 500 companies and financers.
Jeffrey Peck, iSun’s Chief Executive Officer, commented, “Following on a successful 2021 to date with Fusion, this commitment was a natural continuation of that relationship and is in line with iSun’s responsibility to help traditional energy companies expand their access to investments in renewable energy assets. The iSun story is built on repeat relationships like these, some spanning decades, that form the core of our business. Additionally, this progress is a testament to both the traction that our development and professional services business has gained in the market, and the size of the opportunity this market presents. We’re proud of the progress we’ve made since entering this market in April; we’re excited about this division’s prospects moving forward.”
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 450 megawatts of solar systems. The Company has provided solar EPC services across residential, commercial & industrial, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit http://www.isunenergy.com for additional information.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR:
Tyler Barnes
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802-289-8141
Providing leadership toward permanent, safe carbon capture and storage
HOUSTON--(BUSINESS WIRE)--#carboncapture--Audubon Companies, a leader in engineering, procurement, and construction (EPC) services, announced today the promotion of Jeremy Zamzow as president of affiliate company Audubon Carbon, a global provider of cost-effective technology and services for carbon capture, utilization, and storage (CCUS).
In his new role, Zamzow will oversee the company’s carbon capture business as well as provide leadership and drive overall strategic direction as Audubon Carbon expands.
“We are excited to welcome Jeremy in his new role. His leadership, expertise, and insight in carbon capture and sequestration will help position our clients at the forefront of the clean energy transition and support their aims of carbon neutrality,” said Dave Beck, Partner at Audubon Companies.
On his appointment, Jeremy Zamzow commented, “The drive toward net-zero carbon emissions is gaining speed throughout the energy industry. I look forward to providing our customers with carbon capture solutions that best support their decarbonization journey.”
Formed in May 2020 to advance Audubon Companies’ footprint in the high-growth CCUS industry, Audubon Carbon partners with companies in midstream natural gas, LNG liquefaction, ethanol production, ammonia generation, and other industries to reduce their carbon footprint and manage and monetize CO2 emissions.
To accelerate its expansion, Audubon Carbon identified the following strategic priorities:
Zamzow brings more than 13 years’ experience in energy finance, accounting, economics, energy risk management, and power generation operations. Most recently, he worked as vice president of Power Generation at Opero Energy and as vice president of finance and corporate controller at Audubon Companies. Zamzow earned a Master of Business Administration (MBA) in energy finance from the University of Houston and is a certified public accountant in the State of Texas.
On Twitter: @audubonco
About Audubon Carbon
Audubon Carbon is a carbon capture development and solutions company specializing in carbon capture and sequestration services. From capture through transportation and storage, we help companies mitigate risk, reduce their carbon impact, and enhance their sustainability efforts. To learn more, please visit auduboncarbon.com
About Audubon Companies
Audubon Companies is a leading provider of engineering, consulting, construction, fabrication, and technical services supporting the energy, power, infrastructure and industrial markets. Together with our family of companies – Audubon Engineering, Audubon Field Solutions, Audubon Industrial Solutions, Audubon Inspection Solutions, Audubon Carbon, Audubon Construction, Opero Energy, and Affinity – we deliver repeatable project success – safely, on-schedule, and within budget. For more information, please visit auduboncompanies.com.
Ivonne Hallard
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Research reveals the environmental dangers posed by diesel-fueled generator emissions threaten public health and create significant hurdles to achieving greenhouse gas reduction targets
SAN JOSE, Calif.--(BUSINESS WIRE)--New research by economic and public policy consulting group M.Cubed finds a proliferation of backup generators across California, with nearly 90 percent being diesel-fueled, posing significant obstacles to achieving greenhouse gas reduction targets and driving nearly $136 million in annual health costs.
Over the last year, the generator population jumped by 22 percent in the South Coast Air Quality Management District (SCAQMD), and by 34 percent in the Bay Area Air Quality Management District (BAAQMD) over the last three years. In 2021, the two districts were collectively home to 23,507 backup generators with a capacity of 12.2 gigawatts (GW), about 15 percent of California’s entire electricity grid. Of these, 20,907 are diesel-fueled.
Diesel generators release greenhouse gases, particulate matter (PM), volatile organic compounds (VOCs), nitrous oxides (NOx) and sulfur dioxide (SO2), harmful pollutants that create smog and exacerbate respiratory conditions.
The report concludes that diesel generators in the South Coast and Bay Area communities alone have 12.2 GW of generation capacity and produce roughly 20 metric tons (MT) of fine particulate matter, 62 MT of VOCs and almost 1,000 MT of haze-inducing NOx annually.
“We have long been concerned about the proliferation of diesel backup generators here in the Bay Area, as highlighted in this report,” said Jack Broadbent, executive officer of the Bay Area Air Quality Management District. “Emissions from these backup generators can harm local residents, regional air quality and the global climate. This is particularly true in communities already overburdened by air pollution and the Air District is actively pursuing regulations to curb this pollution.”
This pollution, in turn, may trigger upwards of $31.8 million in annual health costs in the Bay Area and $103.9 million in South Coast communities, due to increases in mortalities, heart attacks, hospital visits and other adverse consequences – particularly in vulnerable communities.
“This research began when I received a notice that a diesel-fueled generator was being sited near my daughter's high school,” said M.Cubed partner and lead researcher Steven Moss. “I never expected to find so many diesel-fueled generators operating in San Francisco and across the state of California, especially so close to where people live, work, and play. For a state leading in climate action, this growing reliance on diesel underscores a disconnect between how we're addressing grid reliability, long-term energy affordability, and the ongoing environmental consequences of diesel dependency.”
Diesel generators tend to be located close to where people live, work and attend school. Importantly, M.Cubed’s study highlights that many of these generators are in communities that the California Environmental Protection Agency identifies as “disadvantaged,” according to CalEnviroScreen. Considering environmental conditions and community members’ vulnerability to a degraded ecosystem, CalEnviroScreen is a method to evaluate multiple pollution sources in a geographically defined area that accounts for the population’s sensitivity to pollution’s adverse effects.
“It is concerning to see an increased reliance on diesel-fueled generators, particularly when nearly three-quarters of California voters support alternative, non-harmful energy solutions like fuel cells and more than half desire to see diesel generation reduced,” said Marisa Blackshire, senior director of environmental compliance, Bloom Energy. “We must embrace existing technologies that will make California’s grid cleaner and more resilient, rather than increasing the population of high-polluting power sources that will set us back in meeting crucial emission reduction goals.”
For example, in the South Coast, 47 percent of generators are in the most vulnerable communities, classified as being in CalEnviroScreen’s 80th to 100th percentile, with 33 percent above the 90th percentile.
“California’s growing dependence on diesel-fueled backup generators is a clear but alarming response to the state’s worsening wildfires and our efforts to manage them,” said Carl Guardino, executive vice president of government affairs and policy, Bloom Energy. “In addition to carbon emissions, diesel releases dangerous amounts of particulate matter, volatile organic compounds, nitrous oxides and sulfur dioxide. These pollutants create smog, which exacerbates respiratory conditions, such as asthma, chronic obstructive pulmonary disease, and lung cancer, especially in children and older adults.”
In California, diesel generators are individually permitted by each of the 35 air districts in which they are located, so data on the cumulative population is largely unavailable. Data from individual districts is not aggregated or reported at the state level, and backup generator usage data and permit renewals are self-reported by the operators themselves. As a result, this data remains largely hidden and subject to little regulatory scrutiny.
M.Cubed’s full report on the BAAQMD and SCAQMD records of diesel backup generators can be found here: https://www.bloomenergy.com/wp-content/uploads/diesel-back-up-generator-population-grows-rapidly.pdf
About M. Cubed
M.Cubed, founded in 1993, provides economic and public policy consulting services to public and private sector clients. Practice areas include water and energy utility resource planning and ratemaking, resource use efficiency and conservation measures, project impact analysis, regional economic modeling, natural resource allocation policies, and environmental plan preparation and review
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Steve Moss
M. Cubed
+1 (415) 643-9578
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Justin Saia
Bloom Energy
+1 (480) 543-1235
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DUBLIN--(BUSINESS WIRE)--The "Fuel Cell - Hydrogen Policy and Regulations by Key Countries" report has been added to ResearchAndMarkets.com's offering.
The Paris Accord of 2015 is a major landmark for global climate action and move toward a zero-carbon society. Understandably, this has led to a vast interest in renewable power across the globe. However, this alone is not enough to decarbonize the global community.
Hydrogen is fast becoming a key component in the transition from a petroleum economy to a low-carbon society, and governments across the globe have been active in investments in both renewable energy and hydrogen production using this renewable energy.
Another interesting aspect is the potential for hydrogen to be applied across industries, including steel manufacturing, fertilizers, heating and power for buildings, and mobility. As such, many countries have come up with a hydrogen strategy prioritizing their targets and have committed to investments running into billions over the next decade.
While some countries have prioritized production and export, others have made domestic and foreign investments to ensure future supply. There are also specific targets relating to production, in terms of cost or quantity, or specific areas that are being targeted for decarbonizing, such as industries, heating and power, or mobility.
For hydrogen to be able to truly decarbonize, however, it is essential that the power used for producing hydrogen also has low or zero emissions. When using renewable energy sources, such as solar, wind, and hydropower that are zero-emission solutions, the hydrogen so produced is classified as 'green' hydrogen. While other low-carbon solutions, such as using Carbon Capture and Storage (CCS) are often termed as 'blue' hydrogen or the one produced using nuclear power is called 'purple' hydrogen.
The demand for decarbonization, increasing investments into renewable energy, and hydrogen's potential for wide application areas make hydrogen key in achieving a low-carbon society. While the investments into the hydrogen ecosystem are only just beginning, they are poised for rapid growth in the coming years.
Key Topics Covered:
1. The Strategic Imperative
2. Growth Environment and Scope - Global Hydrogen Industry
3. Growth Environment
4. Country Profiles - Australia
5. Canada
6. Chile
7. China
8. France
9. Germany
10. India
11. Japan
12. Morocco
13. The Netherlands
14. Norway
15. South Korea
16. Switzerland
17. UK
18. US
19. Growth Opportunities
20. List of Exhibits
For more information about this report visit https://www.researchandmarkets.com/r/3r10fq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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GumboNet to Help Company Streamline Supply Chain and Enhance Contract Management Between Norwegian Subsidiary of Exceed Energy and Energy Operator Customers
STAVANGER, Norway & HOUSTON--(BUSINESS WIRE)--#blockchain--Data Gumbo, the industrial smart contract network company, today announced that Exceed Norge, the Norwegian subsidiary of Exceed Energy — the world’s largest independent well management company, has adopted GumboNet to deploy smart contracts across the large and complex oil and gas projects it manages on behalf of its energy operators and their vendors.
“We are attracted to the promise of GumboNet because of its ability to guarantee accurate, on-time and automated invoicing and payments for our clients’ contractors working in some of the most difficult conditions in the world,” said Mike Simpson, Managing Director, Exceed Norge. “Management of vendor contracts is a core capability of our company, and smart contracts will better serve our operators’ needs and the vendors who meet those needs. The inherent trust and transactional certainty smart contracts deliver across commercial relationships opens up a new way to do business.”
Informational and transactional friction between counterparties contribute to excessive Days Sales Outstanding (DSO) with the average DSO in Europe between 20 to 35 days. Long invoicing cycles and billing challenges can be attributed to an overarching lack of transparency in supply chains, the necessity of multiple human checks and balances, and to payments based on estimates and accruals rather than real-time, accurate data.
GumboNet smart contracts deliver transactional certainty to commercial relationships, enabling counterparties to streamline operations and shorten long payment cycles. By providing a single immutable record of truth, GumboNet synchronizes data across parties for complete transparency to free up working capital, reduce contract leakage, enable real-time cash and financial management and capture provenance. The network is currently in use by Exceed Norge with a large energy operator and its counterparties, an oil and gas service company and drilling contractor, with plans for further implementation across the supply chain.
“Exceed Norge is in an optimal position in the energy supply chain for it and its customers to experience maximum benefits of our blockchain-powered smart contracts gained by automating the billing and invoicing process,” said Ove Sandve, Country Manager - Norway, Data Gumbo. “We pride ourselves on being an honest broker in commercial relationships, and this implementation of GumboNet provides Exceed Norge with a competitive advantage to enhance its contract management to experience transparency between parties, faster payment times and lower project costs.”
About Data Gumbo
Data Gumbo is the smart contract company trusted by global industrial enterprises. The only network of enterprises and their customers, suppliers and vendors that successfully incorporates real-time sensor level and field data to validate transactions, GumboNet™ reduces costs by more than 10% for all network members by automatically eliminating payment delays, disputes and complicated reconciliations.
To date, Data Gumbo has received equity funding with Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco; Equinor Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator; and L37, a hybrid venture capital and private equity company. Data Gumbo is headquartered in Houston, Texas, with global offices in Stavanger, Norway, and London, UK. For more information, visit www.datagumbo.com or follow the company on LinkedIn, Twitter and Facebook.
fama PR
Jake Schuster
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617-997-2134
HOUSTON--(BUSINESS WIRE)--The Board of Directors of UTEX Industries, LLC announces the retirement of Chief Executive Officer, Mike Balas, effective October 5th, 2021.
The Board would like to thank Balas for his stewardship through more than a decade of tumultuous ups and downs in the Oil and Gas industry including a 2020 restructuring and various acquisition and sales processes. UTEX has grown significantly under Balas with a broad portfolio of Oil & Gas, Mining, Industrial and Water sealing solutions.
The Board has established an Office of the CEO comprised of Chairman Jeff Cullman, Director Piotr Galitzine and V.P. of Operations Wellon Pierre. In that structure, Piotr Galitzine will serve as the CEO of UTEX with daily responsibility for the business.
Balas commented, “It has been a great honor to lead the employees of UTEX through the years and I know that the future holds great opportunity for our people and our market-leading technology. We have a strong team that has succeeded in the face of a turbulent market”.
Cullman stated, “Mike has been a key driving force in the growth culminated in the current position of the UTEX business. We very much appreciate the significant effort that Mike made to restructure the company for its future success. Following the UTEX restructuring, we are well funded, with market favorability that should bode well for our success. I am pleased with the improved financial performance of the company.”
Piotr Galitzine and Wellon Pierre will be conducting all-hands meetings to discuss this announcement and plans for UTEX’s future success. The Board has confidence, as always, that we can depend on the UTEX team to continue delivering innovative products and excellent service to our customers.
About UTEX
UTEX is a market-leading manufacturing business headquartered in Houston, Texas. UTEX operates manufacturing, distribution, and technical sales facilities in the United States and abroad and has approximately 650 employees. UTEX’s innovative and custom-engineered products support a diverse customer base, including oil and gas, industrial, mining, and water end markets.
Forward-Looking Statements
Certain statements in this press release constitute forward looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain or be identified by the words “believe,” “expect,” “expected to be,” “anticipate,” “contemplates”, “plan,” “intend,” “foresee,” “forecast,” “continue,” “can,” “will,” “will continue,” “may,” “should,” “would,” “could” or other similar expressions that are intended to identify forward-looking statement. Readers are cautioned that any forward-looking statements herein, are subject to a number of assumptions, risks, and uncertainties, many of which are beyond our control. Important assumptions and other important factors that could cause actual results to differ materially and include, a decrease in drilling activity, as well as the volatility in commodity prices for crude oil and natural gas, competition, government regulation or other actions, the ability of management to execute its plans to meet its goals and other risks inherent in our businesses. Readers are cautioned that the forward-looking statements speak as of the date hereof, are based on our current beliefs, intentions and expectations, and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and UTEX undertakes no obligation to update any such statements.
Jennifer Lyons
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281.615.2223
Nuveen Installs First EVPassport Howard Level 2 19.2KW Chargers at Connecticut, Massachusetts and New Jersey Commercial Properties
BOSTON – BOMA International Conference--(BUSINESS WIRE)--EVPassport, the EV charging hardware and software platform for purpose-driven organizations, today announced that Nuveen Real Estate, one of the largest real estate investment managers globally with $139 billion of assets under management, is installing EVPassport chargers on portfolio properties to provide a frictionless charging experience and strengthen property engagement.
Nuveen is installing its first EVPassport chargers, the Howard L2 19.2KW charger, which provides the fastest Level 2 EV charging experience in the United States, at 20 Westport Road, Wilton, CT; 600-650 College Road, Princeton, NJ; and 501 Boylston Street, Boston, MA.
"Nuveen is at the forefront of innovation when it comes to tenant experience,” said Hooman Shahidi, President, EVPassport. “We are excited by their vision for EV charging with EVPassport and look forward to playing a key role in advancing property engagement and sustainability goals."
Nuveen selected EVPassport for its ability to provide short-stay visitors and all-day tenants with Nuveen-branded Howard L2 chargers and a frictionless charging experience built around the ability to scan a QR code, pay and go. Open APIs enable integrations with popular services like Google Maps and Apple Pay, allowing drivers to see charger locations and click directly through to start a charging session without having to download an additional app or create a separate provider account.
EVPassport’s robust APIs allow Nuveen to integrate live EVPassport chargers directly into existing tenant software platforms, providing a branded charging experience that is compatible with any vehicle.
“We are committed to providing innovative environments that can be tailored to any tenant’s needs, so partnering with EVPassport to deploy charging stations on our properties was an easy choice, given their open APIs and universal availability,” said Ines Olesen, Director of New York Investments and Head of Dispositions, Office and Life Science, Americas at Nuveen. “EVPassport will be instrumental in helping us deliver a sophisticated workplace experience to our tenants.”
About EVPassport
EVPassport is the EV charging hardware and software platform for purpose-driven organizations. Brands committed to sustainability rely on EVPassport to provide their customers with the most seamless payment experience to charge any electric vehicle without requiring a separate app, account or a top-up balance. And EVPassport is the only platform that enhances customer engagement for these companies by providing custom branded hardware with API-powered software that easily integrates with their existing applications and services. For more information, follow EVPassport on Twitter (@EVPassport), Instagram (@EVPassport) and LinkedIn, or visit www.EVPassport.com.
Media:
Jake Schuster
fama PR for EVPassport
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TYLER, Texas--(BUSINESS WIRE)--Field Service joins the list of VME’s services. With the acquisition of Cortex Process Equipment, VME now combines the power of advanced engineering and lean fabrication with the hands-on expertise of a field-service team.
“Adding Cortex to our line-up fills a void for many of our customers,” says Brad Stinson, VME’s Vice President – Onshore Division. “The reality is, field conditions are not perfect. They aren’t 100-percent predictable. Well site facilities inevitably need adjustments or repairs. Now, instead of our customers having to work around a third-party service company, they can come to us – the people who already know their equipment and operations inside-out.”
Not only does Cortex have the right technical qualifications – they also align with VME’s Core Values of Integrity, Fairness, Responsibility, and Clarity.
“When we found Cortex,” Stinson says, “we quickly learned that they have it all: the right people, the right instincts, and the right customer-focused personality.”
Cortex founder Brandon Plumb agrees. He says, “We both care about people and seeing a job well-done through to completion. Our company missions align, our people align, and we each fill something of a void that the other needed to serve our customers more comprehensively.”
Accessing VME’s field services happens in two ways.
Since only January 2020, the relationship has already benefited customers from both companies:
Stinson adds, “They’re exactly what we needed to become the one-stop shop that our customers have been asking for.”
In addition to being boots-on-the-ground field experts, Cortex specializes in custom surface equipment.
This means, VME also offers:
VME’s acquisition of Cortex gives customers more control over their projects – from the beginning all the way through to production.
Kyle Carter
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(903) 290-1440
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