Athena now supporting seven value streams for customers in ISO-New England
Advanced reporting and bidding software offerings launched for CAISO, ERCOT, and PJM wholesale energy markets
SAN FRANCISCO--(BUSINESS WIRE)--#STEM--Stem, Inc. (“Stem” or “the Company”) (NYSE: STEM), a global leader in artificial intelligence (AI)-driven energy storage services, announced today two advanced application additions to its Athena® smart energy software, enabling its project developer customers to generate more revenue in wholesale energy markets for both front of meter (FTM) and behind the meter (BTM) storage projects. Included in the enhanced offering is Athena SupervisorTM, which provides real-time visibility into how Athena manages and monetizes energy assets, and Athena BidderTM, Stem’s proprietary market operations engine that automates asset strategies to maximize wholesale market revenues.
Stem Highlights Three Recent Milestones with Athena® in ISO-NE
Important milestones achieved by Stem during three recent customer projects in Independent System Operator New England (ISO-NE) include:
Across these projects, Stem is enabling its project developer customers to co-optimize seven value streams: day-ahead markets, real-time energy markets, frequency regulation, capacity market, coincident peak reduction, solar shifting incentives, and solar ITC earnings.
With Stem’s extended project developer support services and Athena’s ability to deliver multiple value streams, Stem has grown rapidly in the ISO-NE market since it expanded market participation activities for FTM storage in 2020. As of mid-2021, Stem’s Athena-controlled systems comprised 52% of Massachusetts and 19% of ISO-NE’s operational continuous storage facilities active in the wholesale energy, ancillary services, and forward capacity markets. Athena continues to deliver an average of up to 30% internal rate of return (IRR) for its users.
Stem Expands Value in FTM Wholesale Energy Markets with Offerings for CAISO, ERCOT and PJM
Stem’s Athena is used by project developers and asset owners to optimize power generation and market participation revenues of both standalone energy storage and hybrid solar plus storage power plants. Athena supports merchant projects capturing nodal pricing swings. Now, the recent updates to Athena Bidder provide enhanced capabilities for customers to meet resource adequacy requirements, optimize wholesale market revenue, and participate in wholesale energy markets such as California Independent System Operator (CAISO), Electric Reliability Council of Texas (ERCOT), and Pennsylvania, New Jersey, and Maryland (PJM). This enhances customers’ IRR by maximizing revenues through optimized bidding strategies, automated program management, and systematized compliance, while enhancing the storage lifecycle value. Additionally, Athena is uniquely capable of providing short-term forecasts for day-ahead and real-time bidding, as well as leveraging long-term market price projections to model FTM systems for financing and bankability.
“As a global leader in AI-driven energy storage, Stem continues to develop and enhance Athena’s smart energy storage capabilities to secure further market value for new and existing customers and diversify our geographic footprint into new markets,” said John Carrington, Chief Executive Officer at Stem. “These enhancements to Athena’s applications for wholesale energy market participation extend the value and benefits offered to our partners. With our unparalleled service, we help them navigate complicated programs and incentives and generate the best return on their investments.”
Cautionary Statement Regarding Forward-Looking Statements
This press release, as well as other statements we make, contain “forward-looking statements” within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “predict,” “plan,” “potential,” “projected,” “projections,” “forecast,” “estimate,” “intend,” “anticipate,” “ambition,” “goal,” “target,” “think,” “should,” “could,” “would,” “will,” “hope,” “see,” “likely,” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as the opportunity for business growth in ISO-NE; the expected benefits of customer projects in ISO-NE; and expected benefits to businesses, utilities and energy customers in ISO-NE. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon assumptions and estimates that, while considered reasonable by Stem and its management, depend upon inherently uncertain factors and risks that may cause actual results to differ materially from current expectations, including our inability to achieve business growth in ISO-NE; risks relating to the development and performance of our energy storage systems and software-enabled services; the risk that the global commitment to decarbonization may not materialize as we predict, or even if it does, that we might not be able to benefit therefrom; our inability to retain or upgrade current customers, further penetrate existing markets or expand into new markets; our inability to secure sufficient inventory from our suppliers to meet customer demand, and provide us with contracted quantities of equipment; supply chain failures or interruptions; manufacturing or delivery delays; disruptions in sales, production, service or other business activities; our inability to help reduce GHG emissions; our inability to seamlessly integrate and optimize energy resources; the risk that our business, financial condition and results of operations may be adversely affected by other political, economic, business and competitive factors; the effects of competition; and other risks and uncertainties set forth in the section entitled “Risk Factors” in the registration statement on Form S-1 filed with the SEC on July 19, 2021, and our most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the SEC. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should our underlying assumptions prove incorrect, actual outcomes may vary materially from those reflected in our forward-looking statements. Statements in this press release are made as of the date hereof, and Stem disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.
About Stem, Inc.
Stem (NYSE: STEM) provides solutions that address the challenges of today’s dynamic energy market. By combining advanced energy storage solutions with Athena®, a world-class AI-powered analytics platform, Stem enables customers and partners to optimize energy use by automatically switching between battery power, onsite generation and grid power. Stem’s solutions help enterprise customers benefit from a clean, adaptive energy infrastructure and achieve a wide variety of goals, including expense reduction, resilience, sustainability, environmental and corporate responsibility and innovation. Stem also offers full support for solar partners interested in adding storage to standalone, community or commercial solar projects – both behind and in front of the meter. For more information, visit www.stem.com.
Stem Investor Contacts
Ted Durbin, Stem
Marc Silverberg, ICR
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Stem Media Contacts
Cory Ziskind, ICR
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MINNEAPOLIS--(BUSINESS WIRE)--US Solar has been named the #1 Developer in Minnesota by Solar Power World. US Solar has been developing solar projects since 2015 and has been a market leader since the inception of the state’s community solar program. In 2020, US Solar installed 36,590 kW in Minnesota, which is enough electricity to power approximately 6,000 homes.
Since its founding, US Solar has developed over 125 MW of operational community solar in Minnesota, representing more than 15% of the program’s current operational capacity. Reed Richerson, COO of US Solar, said “As someone who grew up and resides in Minnesota, I'm proud to be part of a team that is helping Minnesota lead the country in community solar. And we'll strive to continue delivering impactful solar projects for our community, landowners, and subscribers.”
US Solar has subscribed over 2,000 residential households and 100 public and commercial entities to its community solar gardens. US Solar has secured a development pipeline of over 750 MW of solar generation and energy storage projects across a dozen states.
Solar Power World is the leading publication of solar technology, development, and installation. The Top Solar Contractors list is an annual feature of the publication, and this is its 10th edition. The full Minnesota Contractor list (including Developers) can be found at www.solarpowerworldonline.com/2021-top-minnesota-solar-contractors.
About US Solar
United States Solar Corporation ("US Solar") makes solar energy accessible with simple solutions that are as good for the wallet as they are for the environment. US Solar is a developer, owner, operator, and financier of solar generation and energy storage projects with a focus on emerging state markets and community solar programs. US Solar helps residents, public entities, and businesses reduce electricity costs with local, renewable energy. Additional information about US Solar and community solar subscriptions can be found by visiting www.us-solar.com.
Spencer Albers
612-252-9312
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TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a global subsea mineral exploration and development company, announced today that it entered into an agreement with Monaco Financial, LLC and other parties (Parties) on October 4, 2021, that significantly reduces Odyssey’s indebtedness and improves its overall capital structure.
Under the terms of the agreement, Odyssey will issue the Parties 984,848 shares of common stock at $6.60 per share and pay $500,000 in cash, in exchange for the cancellation of approximately US $14.5 million in principal and accrued interest outstanding under various notes, including the Parties’ right to convert the indebtedness into Odyssey’s Oceanica equity. As additional consideration, Odyssey relinquished its right to receive a percentage of the proceeds the Parties may receive from certain shipwreck projects and agreed to pay an additional $2.5 million to the Parties by December 1, 2021. The Parties have the option to convert this $2.5 million into shares of Odyssey’s common stock. It is important to note that Odyssey expects to receive proceeds from a separate legacy shipwreck project within the next 60 days that we believe will be more than sufficient to cover the additional obligation.
“This is a watershed moment for Odyssey Marine Exploration as we close an important chapter in our history—the legacy shipwreck exploration business,” stated Mark D. Gordon, Odyssey’s Chairman and Chief Executive Officer. “We have benefitted greatly from the vast knowledge and experience gained during our nearly 30 years of pioneering deep-ocean exploration work including shipwreck and mineral projects thousands of meters deep. This expertise provided the platform for us to become a world leader in subsea mineral exploration, validation and development.”
“This agreement is a major step towards strengthening our balance sheet and improving liquidity,” noted Christopher E. Jones, Odyssey’s Chief Financial Officer. “This will be a continued focus as we evaluate strategic investments and industry partnerships intended to position Odyssey for financial success in our subsea mineral exploration business,” Jones continued.
Odyssey’s focus remains on increasing the value of its diversified mineral portfolio through the development of new projects, acquiring additional equity in current projects and by de-risking projects as they move through operational stages on the value curve.
Odyssey’s current priorities include:
About Odyssey Marine Exploration
Odyssey Marine Exploration, Inc. (Nasdaq:OMEX) is a deep-ocean exploration pioneer engaged in the discovery, validation, and development of subsea minerals deposits in a socially and environmentally responsible manner. Odyssey’s growing project portfolio includes different mineral sets in various jurisdictions around the world. The company’s mission is to drive superior economic returns by providing critical mineral resources in a manner that has a net positive impact on the global environment. Odyssey also provides marine services for private clients and governments. For additional details, please visit www.odysseymarine.com.
Forward Looking Information
Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the Securities and Exchange Commission on March 31, 2021. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey's projections will depend upon unpredictable future events, many of which are beyond Odyssey's control and, accordingly, no assurance can be given that Odyssey's assumptions will prove true or that its projected results will be achieved.
Cautionary Note to U.S. Investors
The U.S. Securities and Exchange Commission (SEC) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "measured", "indicated," "inferred" and "resources," which the SEC guidelines strictly prohibit us from including in our filings with the SEC. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that part or all of the inferred mineral resource exists, or is economically or legally mineable, and are urged to consider closely the disclosures in our Form 10-K which may be secured from us or from the SEC's website at http://www.sec.gov/edgar.shtml.
Laura Barton
Odyssey Marine Exploration, Inc.
(813) 876-1776 x 2562
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PLANO, Texas--(BUSINESS WIRE)--United Energy (OTCMKTS:UNRG):
United Energy announces it has signed a purchase agreement for a 140-mile natural gas pipeline in Wagoner County, Oklahoma, formerly owned by Red Fork Energy. This asset has 140+ miles of 3” to 16” transmission lines, including a 12” steel pipeline – capacity up to 20,000 MCFGD and comprises 5,000+ acres leasehold, and 89 company-owned wells with substantial Woodford Shale development opportunities. Closing is expected in October pending final due diligence.
“Natural Gas midstream assets are true gems in the current environment. Acquisition of the Wagoner Pipeline also opens numerous opportunities for stranded gas that hasn’t been able to capitalize on current commodity prices.” Brian Guinn, CEO of United Energy Corporation
August 2021 UNRG announced the acquisition of a strategic asset combination in the Cherokee Basin, located in Northeastern Oklahoma and Southeastern Kansas. The Company purchased Entransco Energy, LLC, serving as the Company’s licensed Operator in Oklahoma and Kansas, adding 250+ Coalbed Methane Gas (CBM) wells, 32,000 acres, 118 miles of pipeline and related oil and gas assets to its portfolio.
In addition, UNRG acquired 80 wells and 10,000 acres of CBM-producing wells from Montclair Energy – a project formerly known as ROCCS, the Rogers County Coal Seam Project.
The Entransco acquisition also included 49% ownership in an additional 200,000 acres of non-operated oil and gas leases, 2,200+ wells and 1,000+ miles of natural gas pipelines formerly owned by Constellation Energy Partners and Newfield Exploration.
UNRG forecasts 2,500+ MCFGD within Q4 and another 2,000+ MCFGD with the reactivation of the Wagoner Pipeline.
UNRG will soon be rolling out a proprietary well-pumping solution for the production of CBM wells. This innovative pump dramatically reduces operating costs of water-producing wells, eliminating the surface pump jack and many high-maintenance pumping expenses that have burdened previous operators.
“We’re on a mission. We’ll be one of the top 3 largest operators in the Cherokee Basin before year-end.” Brian Guinn
Media Contact:
Kimberly Stillwagon
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214-901-5453
nvestor Contact:
Brian Guinn
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469-209-5829
Third Quarter ADV up 18% y/y; OI up 9% y/y
ATLANTA & NEW YORK--(BUSINESS WIRE)--Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure, today reported September and third quarter 2021 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.
“We’ve seen elevated market activity across numerous asset classes in the third quarter as our customers manage their exposure to concerns including inflation driving interest rate changes, and rising gas and carbon prices in energy markets,” said Ben Jackson, President of Intercontinental Exchange. “ICE’s global exchanges were built to connect market participants and provide price transparency to allow them to manage their risk efficiently and with greater certainty.”
September highlights include:
Third quarter highlights include:
Updated Guidance:
(1) Non-GAAP operating expenses exclude amortization of acquisition-related intangibles and transaction-related costs.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.
SOURCE: Intercontinental Exchange
ICE-CORP
ICE Investor Relations Contact:
Mary Caroline O’Neal
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+1 770 738 2151
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ICE Media Contact:
Josh King
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+1 212 656 2490
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Scale, Stability and Carbon Neutral Power Drive Demand for U.S. Hosting at Core Scientific
AUSTIN, Texas--(BUSINESS WIRE)--Core Scientific Holding Co. ("Core Scientific" or “the Company”), a leader in customizable infrastructure to large scale customers for blockchain hosting and digital asset mining, today announced that Atlas Mining, one of the largest digital asset miners in the world, has selected Core Scientific to host a large quantity of new Bitcoin miners that will require more than 100 MW of power when fully implemented. Installation of the new miners is expected to take place over a 15-month period.
“We are honored that Atlas Mining has chosen Core Scientific as its primary hosting partner in the United States,” said Mike Levitt, Chief Executive Officer of Core Scientific. “Core Scientific’s unmatched scale in North America enables us to accommodate the largest digital asset miners seeking to operate in a stable environment and with a net carbon neutral footprint. We look forward to a long-term partnership that will deliver best-in-class hosting services to Atlas Mining.”
“Core Scientific is our partner of choice in North America because of their ability to scale, deep knowledge of blockchain data center operations and professionalism,” said Raymond Yuan, Founder of Atlas Mining. “Core Scientific’s commitment to 100% net carbon neutral operations, innovation that drives profitability, and deep industry partnerships align very well with our values, and we look forward to a long, productive relationship.”
Core Scientific is one of the largest blockchain infrastructure providers in North America, utilizing its facilities and technology for both hosted mining and self-mining of digital assets. Core Scientific owns and operates data centers in North Carolina, Kentucky and Georgia. A new data center in North Dakota is scheduled to begin operation in the fourth calendar quarter of 2021. Core Scientific’s proprietary Minder® fleet management software combines the company’s hosting expertise with data analytics to deliver maximum uptime, alerting, monitoring and management of all miners in the Company’s network.
Core Scientific is a founding member of the Bitcoin Mining Council, which is dedicated to promoting transparency, sharing best practices and educating the public on the benefits of Bitcoin and Bitcoin mining.
About Core Scientific
Core Scientific is a best-in-class, large scale operator of dedicated, purpose-built facilities for digital asset mining and a premier provider of blockchain infrastructure, software solutions and services. As announced on July 21, 2021, Core Scientific entered into a definitive agreement with Power & Digital Infrastructure Acquisition Corp. (“XPDI”) (Nasdaq: XPDI, XPDW, XPDIU), a special purpose acquisition company, which would result in Core Scientific becoming a publicly listed company upon receiving regulatory approval, approval by Core Scientific’s and XPDI’s stockholders of the proposed merger and satisfaction of other customary closing conditions. To learn more, visit www.corescientific.com.
About Atlas Mining
Atlas Mining maintains an extensive computing network and digital infrastructures in multiple countries and regions across North America, North Europe and Middle Asia. The distributed operation brings boundless growth potential to the company, thus placing Atlas Mining in a truly unique position in this industry. In addition to the business expansion, Atlas Mining also helps in creating more job opportunity locally along with the long-standing commitment to advancing initiatives across ESG topics. It aims to empower the digital future with an anti-fragile network.
Forward Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Such forward-looking statements include, but are not limited to, statements regarding possible or assumed future actions, business strategies, events or results of operations; projections, estimates and forecasts of revenue and other financial and performance metrics; projections of market opportunity and expectations; the estimated implied enterprise value of the combined company following the proposed merger between XPDI and Core Scientific (the “Transaction”); the combined company's ability to scale and grow its business and source clean and renewable energy; the advantages and expected growth of the combined company; the combined company's ability to source and retain talent; the cash position of the combined company following closing of the Transaction; XPDI's and Core Scientific's ability to consummate the Transaction; expectations related to the terms, timing and benefits of the Transaction; risks related to the novel coronavirus ("COVID-19") pandemic or the emergence of variant strains of COVID-19; the maintenance of key strategic relationships with partners and distributors; and changes in laws and regulations, including tax laws and laws relating to protection of the environment. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of XPDI's and Core Scientific'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, 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 will differ from assumptions. Many actual events and circumstances are beyond the control of XPDI and Core Scientific. These forward-looking statements are subject to a number of risks and uncertainties, including the ability of XPDI and Core Scientific to successfully or timely consummate the proposed Transaction, including the risk that necessary 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 proposed Transaction or approval of the stockholders of XPDI; failure to realize the anticipated benefits of the proposed Transaction; the combined company's ability to execute on its business model, potential business expansion opportunities and growth strategies, retain and expand customers' use of its services and attract new customers and source and maintain talent; risks relating to the combined company's sources of cash and cash resources; risks relating to the blockchain and frontier technology infrastructure sectors, including the unregulated nature of the digital asset space and potential future regulations, volatility of the price of digital assets, changes in the award structure for solving digital assets and limited availability of electric power resources; risks relating to Core Scientific's and the combined company's vulnerability to security breaches; risks relating to the uncertainty of the projected financial information with respect to the combined company; the combined company's ability to manage future growth; the effects of competition on the combined company's future business; the amount of redemption requests made by XPDI's public stockholders; the ability of XPDI or the combined company to issue equity or equity-linked securities in connection with the proposed Transaction or in the future; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; the impact of the COVID-19 pandemic on Core Scientific's or the combined company's business and the global economy; and those factors discussed in XPDI's final prospectus related to its initial public offering dated February 9, 2021 under the heading "Risk Factors," in XPDI's Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 under the heading "Risk Factors" filed with the SEC on May 25, 2021 and other documents of XPDI filed, or to be filed, with the SEC. If any of these risks materialize or XPDI's or Core Scientific'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 XPDI nor Core Scientific presently know or that XPDI and Core Scientific 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 XPDI's and Core Scientific's expectations, plans or forecasts of future events and views as of the date of this press release. XPDI and Core Scientific anticipate that subsequent events and developments will cause XPDI's and Core Scientific's assessments to change. However, while XPDI and Core Scientific may elect to update these forward-looking statements at some point in the future, XPDI and Core Scientific specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing XPDI's and Core Scientific'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.
As of June 30, 2021, over 50% of the power used in Core Scientific’s operation was generated from non-carbon emitting sources by local power providers pursuant to long-term power contracts. The Company determines whether power is generated from non-emitting energy sources from dispatch reports or grid generation mix reports provided by our power providers. Based on these reports Core Scientific purchased Green-e certified renewable energy credits (“RECs”) to offset 100% of our carbon consumption. The Company expects to maintain its 100% net carbon neutrality by increasing its overall use of renewable power and by purchasing RECs when necessary.
Additional Information and Where to Find It
The proposed Transaction will be submitted to stockholders of XPDI for their approval. The Registration Statement on Form S-4 that XPDI has filed with the SEC includes a proxy statement/prospectus, which will be distributed to XPDI's stockholders in connection with XPDI's solicitation of proxies for the vote on the proposed Transaction. After the Registration Statement has been declared effective, XPDI will mail the proxy statement/prospectus to XPDI stockholders as of the record date established for voting on the proposed Transaction and other matters to be presented at the special meeting of XPDI stockholders. XPDI's stockholders and other interested persons are advised to read the preliminary proxy statement/prospectus and any amendments thereto because these documents contain important information about XPDI, Core Scientific and the proposed Transaction. Stockholders may also obtain a copy of the proxy statement/prospectus, as well as other documents filed with the SEC regarding the proposed Transaction and other documents filed with the SEC by XPDI, without charge, at the SEC's website located at www.sec.gov or by directing a request to 321 North Clark Street, Suite 2440, Chicago, IL 60654.
Participants in the Solicitation
XPDI, Core Scientific and certain of their respective directors, executive officers and other members of management and employees may, under SEC rules, be deemed to be participants in the solicitations of proxies from XPDI's stockholders in connection with the proposed Transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of XPDI's stockholders in connection with the proposed Transaction will be set forth in XPDI's proxy statement/prospectus that has been filed with the SEC. You can find more information about XPDI's directors and executive officers in XPDI's final prospectus related to its initial public offering dated February 9, 2021. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests is included in the proxy statement/prospectus. Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. You may obtain free copies of these documents from the sources indicated above.
No Offer or Solicitation
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Investors:
Steven Gitlin
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Media:
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ROCKVILLE, Md.--(BUSINESS WIRE)--#AmericanJobs--By adding additional rooftop solar arrays, the California Institute of Technology (Caltech) is maximizing its energy production at times when electricity is the most expensive to purchase from the grid. Standard Solar, Inc., a national solar energy leader, is funding and will own and operate the portfolio of solar systems. The project was developed in partnership with EMCOR Services Mesa Energy.
Eight more of Caltech’s campus building rooftops are now host to a combined 800 kilowatts of solar energy. The buildings include Bechtel Residence, Bridge, Downs Luritsen, Hameetman, Keith Spalding, Parsons Gates, South Mud and Synchrotron.
“This project represents the culmination of a decade-long vision to build out rooftop solar across the Caltech campus,” said Maximilian Christman, Caltech sustainability manager. “Our campus in Pasadena now hosts 2 megawatts of onsite solar capacity, furthering our efforts towards carbon reduction and eventually carbon neutrality.”
The system is projected to generate approximately 1,328 megawatt-hours (MWh) in the first year of operation and reduce annual carbon offset by an estimated 114,481,584 smartphones charged.
“What better way to strengthen our asset portfolio in California than through providing the funds needed to help one of its leading educational institutions reduce its dependence on nonrenewable energy sources,” said Shaun Laughlin, Head of U.S. Strategic Development, Standard Solar. “Caltech is setting a standard to which other centers of learning and organizations should emulate.”
Construction on all eight projects is complete – seven are operating, with one waiting for final permission to operate from the utility.
“EMCOR Services Mesa Energy was happy to help support Caltech’s sustainability goals by partnering with Standard Solar to design, engineer and construct this innovative solar project,” said Robert Lake, President, EMCOR Services Mesa Energy. “Our relationship with Caltech has spanned over 10 years, contributing to numerous energy-saving programs, with this project reflecting the most recent, significant energy initiative on the campus. We applaud Caltech’s vision in working to achieve a cleaner environment for all.”
EMCOR Services Mesa Energy is a leading mechanical and energy services company with operations throughout California, Arizona, and Nevada and is a subsidiary of EMCOR Group, Inc.
About Standard Solar
Standard Solar is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 17 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 225 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
PR Contact:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR) announces the following schedule and teleconference information for its third quarter 2021 earnings release:
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers in the chemicals, oil & gas, power, automated payment solutions, banknote design and production and aerospace & defense markets, along with a wide range of general industrial and consumer related end markets. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies and Engineered Materials. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
www.craneco.com
Iteris’ Commercial Vehicle Roadside Inspection Solutions Save Law Enforcement Agencies up to 50% of Time Spent Completing Inspections
SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #CVSA--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced a new and expanded contract with the New Hampshire Department of Safety, Division of State Police (NHSP) for Iteris’ commercial vehicle operations (CVO) software-as-a-service (SaaS) solutions.
Under the terms of the multi-year SaaS contract, Iteris will extend NHSP’s use of Iteris Inspect™ for an additional five years and provide its CVIEW-Plus™ data services to support the state’s goals of obtaining compliance with the Federal Motor Carrier Safety Administration’s (FMCSA) Innovative Technology Deployment (ITD) program, improving goods movement, and enhancing safety for truck drivers, law enforcement and roadside inspectors.
Iteris Inspect, powered by CVIEW-Plus data services, aggregates and automates the roadside inspection process, reducing the time to conduct commercial vehicle inspections by up to 50%. Less time roadside improves safety for both drivers and enforcement personnel. CVIEW-Plus data services further automate commercial vehicle selection processes, allowing compliant carriers to bypass weigh stations and enforcement personnel to focus on driver and carrier education aimed at reducing defects, benefitting the safety and mobility of the broader transportation network.
In addition to less time off the road for carriers and drivers, Inspect facilitates compliance with FMCSA and Commercial Vehicle Safety Alliance regulations, including electronic logging.
Iteris’ suite of CVO SaaS solutions is a key component of its ClearMobility™ Platform – the world’s most complete solution to continuously monitor, visualize and optimize mobility infrastructure. ClearMobility applies cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to help ensure roads are safe, travel is efficient, and communities thrive.
“The increased adoption of Iteris’ CVO SaaS solutions across the U.S. is testament to the growing demand among state transportation and law enforcement agencies for smart mobility infrastructure management technologies,” said Scott Perley, regional vice president, Applications and Cloud Solutions at Iteris. “We are pleased to announce this new and expanded contract for the Iteris Inspect and CVIEW-Plus SaaS solutions, which will increase goods movement and enhance safety for truck drivers, roadside inspectors and law enforcement, as well as improve mobility and safety throughout New Hampshire’s wider transportation network.”
Iteris is the largest provider of CVO solutions nationwide, with current deployments in 22 states as well as two electronic screening providers, serving more than half of the country.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," “outlooks,” “target,” "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the awarded contract and the impacts and benefits of our products and services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide the services on a cost-effective basis; agency budgetary constraints; the impacts of general economic, political, and other conditions in the markets we address; the challenges in the development of software-based solutions generally; and the potential impacts of product and service offerings from competitors and such competitors’ patent coverage and claims. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
Iteris Contact
David Sadeghi
Tel: (949) 270-9523
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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Modified fuel helps lower exhaust emissions to overcome soot, nitrogen oxide reduction trade-off
SAN ANTONIO--(BUSINESS WIRE)--#NOx--Southwest Research Institute (SwRI) is helping a client develop a simple post-refinery treatment process that reduces exhaust emissions from diesel engines by overcoming the soot/nitrogen oxides (NOx) reduction trade-off that has plagued engine researchers for decades. The result is a modified fuel that potentially could replace today’s ultra-low sulfur diesel, biodiesel and other renewable diesel fuels.
The modified fuel reduces soot production without increasing NOx and without requiring engine design or calibration changes.
Although engine manufacturers routinely develop cleaner engines for new vehicles, older model vehicles continue to contribute heavily to pollution levels. This new modified fuel could potentially lower exhaust NOx and particulates for both older and newer model diesel engine vehicles.
“While fossil fuels eventually may be replaced by electric powertrains or noncarbon fuels in our lifetime, the process developed with our client could be implemented immediately,” said project manager James Wood, a principal scientist in SwRI’s Chemistry and Chemical Engineering Division.
SwRI designed, built and operated a bench-scale processing plant to produce modified fuel samples for laboratory testing. This internationally patented breakthrough technology introduces a unique low concentration chemical treatment that is combined with a specialized mechanical mixing system that produces a treated diesel fuel that is stable for long periods of time. This establishes a blend-in process that easily modifies the fuel. The specimens demonstrated conformance to ASTM physical, mechanical, rheological, thermal and chemical fuel requirements.
SwRI’s Powertrain Engineering Division evaluated the fuels during steady-state and transient engine emissions testing according to Environmental Protection Agency test procedures. “The modified fuel resulted in a substantial reduction in soot mass emissions compared to the baseline ultra-low sulfur diesel,” said Dr. Imad Khalek, a senior program manager who operates SwRI’s particulate laboratory.
Based on the bench-scale plant, SwRI helped design a production-scale facility that meets ASTM International and ANSI (American National Standards Institute) standards and is capable of processing 12,000 barrels per day (150 million gallons per year).
For more information, visit https://www.swri.org/gas-oil-production-support-services.
https://www.swri.org/press-release/swri-engineers-help-develop-cleaner-burning-diesel-fuels
Tracey M.S. Whelan • (210) 522-2256 or This email address is being protected from spambots. You need JavaScript enabled to view it.
Energy experts explore the financial pathways that will put hydrogen on a profitable trajectory as markets focus on decarbonization
OVERLAND PARK, Kan.--(BUSINESS WIRE)--The global energy industry is looking to green hydrogen, a carbonless fuel generated with renewable energy, as essential on the road to decarbonization and climate neutrality. Given the scale of the investments needed to harness hydrogen’s potential – and the ambiguous costs associated with it – a new eBook from Black & Veatch provides clarity by examining market forces and financial considerations surrounding hydrogen technology.
Offered as a free download, 2021: Market Dynamics of Hydrogen navigates the financial pathways that will put hydrogen on a viable, profitable trajectory.
Hydrogen can complement – and even accelerate – the integration of renewable energy and electrification. It also can provide technologically and financially viable pathways as a zero-carbon fuel, feedstock and energy carrier while serving as a method of energy storage.
While electrification and advancing renewables can play a huge role in decarbonizing the energy sector and downstream users, hydrogen is needed to accelerate these changes and enable lower carbon footprints of energy-intensive applications and emission sources not reasonably abated through other means. Additionally, hydrogen can leverage existing fossil gas infrastructure in that it can be shipped, stored and used as fuel, all without major impacts to the existing value chain.
So with hydrogen boasting such clear advantages, why isn’t the energy industry implementing sweeping changes to adopt it as a solution? Simply put, it’s cost.
“Having yet to achieve meaningful scale or market applications in the industrial, transportation or power generation sectors, clean hydrogen is presently not cost competitive with other forms of fuel without additional incentives,” said Jason Rowell, associate vice president and Black & Veatch’s global decarbonization solutions director with Black & Veatch’s global power business. “As the world continues to deal with the growing impacts of climate change, there is a growing sense of urgency for the industry to understand the market dynamics behind hydrogen technology.”
2021: Market Dynamics of Hydrogen explores how the large-scale adoption of hydrogen will improve the economics of electrification, renewables and hydrogen-based solutions.
“There are multiple paths to our energy future is becoming clearer,” said Deepa Poduval, Black & Veatch’s Global Strategic Advisory practice lead. “Understanding the market dynamics behind hydrogen will help policy makers, energy producers and consumers alike take an active role in making hydrogen a viable low- to no-carbon energy solution in the future.
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.
MELINA VISSAT | +1 303-256-4065 P | +1 617-595-8009 M | This email address is being protected from spambots. You need JavaScript enabled to view it.
24-HOUR MEDIA HOTLINE | +1 855-999-5991
The two organizations celebrated a ribbon cutting at the facility on October 4, 2021
AMES, Iowa--(BUSINESS WIRE)--Ames-based biofuels producer, Renewable Energy Group, Inc. (REG) (NASDAQ: REGI), joined Iowa State University (ISU) at the BioCentury Research Farm (BCRF) for a ribbon cutting ceremony on Monday to celebrate the start of a new hydrotreater pilot plant. This project is the result of a three-year collaboration between REG and the ISU Bioeconomy Institute.
REG is a global advanced biofuels producer that converts waste and byproduct fats and oils, referred to as feedstocks, into biodiesel and renewable diesel, both cleaner alternatives to traditional petroleum diesel. The ISU BCRF is an integrated research and demonstration facility dedicated to biomass production and processing. This hydrotreater pilot plant will utilize the expertise of both organizations to better understand how various biomass feedstocks can play a role in the production of renewable fuels with a specific focus on renewable diesel.
“This project is a result of our longstanding partnership with Iowa State University, and our joint interest in continuing to position the state of Iowa as a hub for innovation and excellence,” said REG President & CEO, Cynthia (CJ) Warner. “As one of the first biodiesel and renewable diesel producers in the nation, innovating is in our DNA, and having the capability to develop additional feedstock options for our industry will help meet the growing demand for cleaner fuels.”
Renewable diesel is a low-carbon cleaner fuel that, through a catalytic process utilizing heat, pressure and hydrogen, known as hydrotreating, can convert feedstocks into a hydrocarbon fuel that is chemically similar to traditional diesel. Research at this new hydrotreater pilot plant will support REG’s Geismar, Louisiana renewable diesel plant by helping to evaluate new low-carbon feedstocks and optimize production of renewable diesel and sustainable aviation fuel (SAF).
REG’s Geismar, Louisiana renewable diesel production facility was the first renewable diesel production facility located in the U.S. and currently produces 90 million gallons of renewable diesel each year. By 2023, the facility will have the capacity to produce 340 million gallons of renewable diesel through an improvement and expansion project that was announced by REG in 2020. Through the work being done with the hydrotreater pilot plant, REG will continue to build on feedstock abundance for the growing renewable diesel and biodiesel industries.
“ISU is a world-class research institution on the cutting edge of agriculture and biomass utilization, and REG is an industry leader in converting waste biomass to renewable fuels,” said Wendy Wintersteen, President of Iowa State University. “This project is a great collaboration that highlights the commitment to innovation and leverages the strengths of both REG and ISU.”
The pilot plant is a multi-reactor state-of-the-art research and development unit designed by REG’s engineering teams to accelerate the development of new feedstocks and processes. The system is fully automated and configured to run safely and reliably for weeks at a time.
The ribbon cutting event included representatives from REG and ISU, as well as some members of the community. Both President & CEO Warner and President Wintersteen were in attendance at the event.
For more information about REG, visit www.regi.com and visit www.biocenturyresearchfarm.iastate.edu to learn more about the BioCentury Research Farm.
About Renewable Energy Group
Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by transforming renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the success of the collaboration with ISU and the hydrotreater pilot plant generally, the growing demand for certain fuels, the expected capacity of our Geismar, Louisiana renewable diesel production facility, the growth of the renewable diesel and biodiesel industries, and our ability to build on feedstock abundance. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the success of our business plan, market factors and progress on the construction of our Geismar, Louisiana renewable diesel production facility, and other risks described in REG's annual report on Form 10-K for the year ended December 31, 2020, quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021, and from time to time in REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and we do not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Katie Stanley
Renewable Energy Group
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(515) 979-3771
DENVER--(BUSINESS WIRE)--Several electric providers that serve millions of customers in the Western United States announced plans today to evaluate regional market solutions together.
Members of the informal Western Markets Exploratory Group (WMEG) are exploring the potential for a staged approach to new market services, including day-ahead energy sales, transmission system expansion, and other power supply and grid solutions consistent with existing state regulations. The group hopes to identify market solutions that can help achieve carbon reduction goals while supporting reliable, affordable service for customers.
The group, which began discussions this summer, includes Xcel Energy-Colorado (PSCo), Arizona Public Service, Black Hills Energy, Idaho Power, NV Energy, Inc., PacifiCorp, Platte River Power Authority, Portland General Electric, Puget Sound Energy, Salt River Project, Seattle City Light, and Tucson Electric Power.
Discussions are in the early stages and are focused on developing long-term solutions to improve market efficiencies in the West. That includes incorporating lessons learned from existing regional markets as well as other efforts across the West.
“We are excited to join with the other companies to explore creating new ways of sharing resources to better serve our customers with affordable and reliable power," said Alice Jackson, president of Xcel Energy-Colorado. “We believe that a Western energy market is key to transforming the electricity system throughout the West, integrating more renewables onto the system, while reducing costs and maintaining reliability.”
“Today’s announcement represents the next step toward achieving Nevada’s vision for a clean energy economy,” said Doug Cannon, NV Energy president and chief executive officer. “By exploring opportunities to greater diversify and maximize Western energy resources, we will help bring cost savings, improved reliability and carbon reduction benefits to not only Nevada, but to the entire region.”
“PacifiCorp has long believed that further connecting the West with new transmission, clean energy resources and market efficiencies will unlock greater savings, reliability and improved environmental outcomes for our customers across the six states we proudly serve,” said Stefan Bird, President and CEO of Pacific Power, a unit of PacifiCorp. “Partnering with our neighboring electricity providers and exploring potential models to deliver on that promise is something we are excited to be a part of.”
Many of the companies in the group are currently participating in, or preparing to join the California Independent System Operator’s Western Energy Imbalance Market, or have announced plans to evaluate energy imbalance services. WMEG’s discussions will not impact participation in or evaluation of those markets in the short-term, as the group is focused on long-term market solutions.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
About Arizona Public Service
APS serves more than 1.3 million homes and businesses in 11 of Arizona’s 15 counties, and is a leader in delivering affordable, clean, and reliable energy in the Southwest. The company is committed to serving customers with 100% clean power by 2050. As owner and operator of Palo Verde Generating Station, the nation’s largest producer of carbon-free electricity, and with one of the country’s most substantial renewable energy portfolios, APS’s current energy mix is 50% clean. With headquarters in Phoenix, APS is the principal subsidiary of Pinnacle West Capital Corp. (NYSE: PNW)
About Black Hills Corp.
Black Hills Corp. (NYSE: BKH) is a customer focused, growth-oriented utility company with a tradition of improving life with energy and a vision to be the energy partner of choice. Based in Rapid City, South Dakota, the company serves 1.3 million natural gas and electric utility customers in eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. More information is available at www.blackhillscorp.com.
About Idaho Power
Idaho Power, headquartered in vibrant and fast-growing Boise, Idaho, has been a locally operated energy company since 1916. Today, it serves a 24,000-square-mile area in Idaho and Oregon. The company’s goal to provide 100% clean energy by 2045 builds on its long history as a clean-energy leader that provides reliable service at affordable prices. With 17 low-cost hydroelectric projects at the core of its diverse energy mix, Idaho Power’s residential, business and agricultural customers pay among the nation’s lowest prices for electricity. Its 2,000 employees proudly serve more than 595,000 customers with a culture of safety first, integrity always and respect for all.
IDACORP Inc. (NYSE: IDA), Idaho Power’s independent publicly traded parent company, is also headquartered in Boise, Idaho. To learn more, visit idahopower.com or idacorpinc.com.
About NV Energy
NV Energy provides a wide range of energy services to more than 1.5 million customers throughout Nevada and a typical tourist population of 54 million annually. NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, do business as NV Energy. NV Energy is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.
About PacifiCorp
Innovating to power a better future for the West, PacifiCorp operates the largest grid in the western United States, serving the growing energy needs of 2 million customers through 17,645 miles of transmission lines over a service area of 141,503 square miles. Our operating divisions are leaders in providing safe, reliable and sustainable low-cost power. Pacific Power serves 815,823 customers in Oregon, Washington and California. Rocky Mountain Power serves 1,232,717 customers in Utah, Idaho and Wyoming.
About Platte River Power Authority
Platte River Power Authority is a not-for-profit, community-owned public power utility that generates and delivers safe, reliable, environmentally responsible and financially sustainable energy and services to Estes Park, Fort Collins, Longmont and Loveland, Colorado, for delivery to their utility customers. For more information, visit prpa.org.
About Portland General Electric
Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, Oregon, with operations across the state. The company serves approximately 900,000 customers with a service area population of 2 million Oregonians in 51 cities. PGE owns 16 generation plants across Oregon and other Northwestern states and maintains and operates 14 public parks and recreation areas. For over 130 years, PGE has delivered safe, affordable and reliable energy to Oregonians. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. PGE and its 3,000 employees are working with customers to build a clean energy future. In 2020, PGE, employees, retirees and the PGE Foundation donated $5.6 million and volunteered 18,200 hours with more than 400 nonprofits across Oregon. For more information visit www.PortlandGeneral.com/news.
About Puget Sound Energy (PSE)
Puget Sound Energy is proud to serve its neighbors and communities in 10 Washington counties. PSE is the state’s largest utility, supporting 1.2 million electric customers and nearly 900,000 natural gas customers. The company aspires to be a beyond net zero carbon energy company by 2045. For more about PSE, visit pse.com or follow on Facebook and Twitter.
About Salt River Project (SRP)
SRP is a community-based, not-for-profit public power utility and the largest provider of electricity in the greater Phoenix metropolitan area, serving more than 1 million customers. SRP is also the metropolitan area’s largest supplier of water, delivering about 750,000 acre-feet annually to municipal, urban and agricultural water users.
About Seattle City Light
Seattle City Light, one of the nation’s largest publicly owned utilities, generates and delivers affordable, reliable and environmentally responsible power to the homes, businesses, and communities we serve. We provide carbon-neutral electricity, generated primarily from carbon-free hydropower, to over 900,000 residents in Seattle and the surrounding areas.
About Tucson Electric Power
TEP provides safe, reliable electric service to more than 433,000 customers in Southern Arizona. For more information, visit tep.com. TEP and its parent company, UNS Energy, are subsidiaries of Fortis Inc. (TSX/NYSE: FTS), which owns utilities that serve more than 3 million customers across Canada and in the United States and the Caribbean. For more information, visit fortisinc.com.
Xcel Energy
Julie Borgen, This email address is being protected from spambots. You need JavaScript enabled to view it., 612-201-6163
Arizona Public Service
Yessica del Rincon, This email address is being protected from spambots. You need JavaScript enabled to view it., 480-209-8513
Black Hills Corp.
Theresa Donnelly, This email address is being protected from spambots. You need JavaScript enabled to view it., 303-566-3496
Idaho Power
Brad Bowlin, This email address is being protected from spambots. You need JavaScript enabled to view it., 208-388-2803
NV Energy
Jennifer Schuricht, This email address is being protected from spambots. You need JavaScript enabled to view it., 702-402-5241
PacifiCorp
Tom Gauntt, This email address is being protected from spambots. You need JavaScript enabled to view it., 503-813-6018
Platte River Power Authority
Steve Rolstad, This email address is being protected from spambots. You need JavaScript enabled to view it., 970-229-5311
Portland General Electric
Brianne Hyder, This email address is being protected from spambots. You need JavaScript enabled to view it., 503-464-2067
Puget Sound Energy (PSE)
Melanie Coon, This email address is being protected from spambots. You need JavaScript enabled to view it.
Salt River Project (SRP)
Scott Harelson, This email address is being protected from spambots. You need JavaScript enabled to view it.
Seattle City Light
Julie Moore, This email address is being protected from spambots. You need JavaScript enabled to view it., 206-386-4233
Tucson Electric Power
Joe Salkowski, This email address is being protected from spambots. You need JavaScript enabled to view it., 520-404-3164
High power density solar cells eliminate device battery waste and operational replacement costs
MILL VALLEY, Calif.--(BUSINESS WIRE)--Ambient Photonics and Universal Electronics Inc. (UEI) (NASDAQ: UEIC), have entered into a working relationship to significantly reduce the economic and environmental impact of disposable batteries and improve convenience in consumer devices. Embedding Ambient’s first-of-its-kind low light energy harvesting photovoltaic (PV) technology into connected devices can eventually eliminate the replacement and labor costs required to replace batteries as well as reduce the carbon footprint of a battery-powered device by up to 90 percent, according to a 2020 literature review study commissioned by Ambient. The companies plan to reveal more details of their current work together at CES 2022 in Las Vegas, Nevada.
“We think about smarter living holistically, including everything from how to create frictionless and new consumer experiences to employing technology that’s better for the planet. Ambient’s revolutionary low light PV cells are smarter in every sense of the word, potentially enabling a new generation of hassle-free connected devices of uncompromising quality that are also sustainable,” said Arsham Hatambeiki, SVP Product & Technology for UEI.
Connected and smart electronics require continuous power, which has historically meant batteries must be periodically replaced or recharged. Often depleted batteries may cause gaps in device operation leading to consumer frustration. Safe disposal is a challenge while recycling can be difficult and expensive. Even in markets like California where batteries must be diverted from waste streams by law, less than 1 percent of batteries find their way into authorized recycling programs according to a report commissioned by the California Department of Resources Recycling and Recovery.
“As a first-mover and innovator, UEI has thoroughly benchmarked the performance and reliability of our novel solar cells to validate the enormous market potential for self-powered devices,” said Ambient CEO Bates Marshall. “UEI is proactively solving their customers’ battery-related pain points, like eliminating battery replacement. Our planned collaboration can serve to bring both cost savings and sustainability benefits to a market that has been constrained far too long by battery-based power systems.”
Ambient dye sensitized PV cells generate as much as three times more power than amorphous silicon cells, which have served as the most commonly used photovoltaic solution for indoor applications. This unique high power density under LED, fluorescent or diffuse sunlight coupled with a breakthrough industrial printing process enables made-to-order cells for high volume electronic device manufacturers.
To learn more about Ambient’s breakthrough technology and self-powered devices, visit: ambientphotonics.com.
About Universal Electronics Inc.
Founded in 1986, Universal Electronics Inc. (NASDAQ: UEIC) is the global leader in wireless universal control solutions for home entertainment and smart home devices. We design, develop, manufacture, ship and support control and sensor technology solutions and a broad line of universal control systems, audio video accessories, and intelligent wireless security and smart home products. Our products and solutions are used by the world's leading brands in the video services, consumer electronics, security, home automation, climate control and home appliance markets. For more information, visit www.uei.com.
About Ambient Photonics
Ambient Photonics was founded in 2019 in California to bring low light energy harvesting technology to mass scale. The company’s low light solar PV cells deliver ground-breaking power density from a broader spectrum of ambient light, inspiring a new era in connected device form and function. Ambient works with leading global smart home and IoT device manufacturers on embedded solar cells to deliver superior design possibilities, performance, sustainability and consumer convenience. Explore endless power at: ambientphotonics.com.
Safe Harbor Statement
This press release contains forward-looking statements that are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words and expressions reflecting something other than historical fact are intended to identify forward-looking statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development, delivery and market acceptance of products and technologies identified in this release; the successful development and manufacturing of underlying technologies by Ambient, the ability of UEI to purchase the Ambient PV cell products identified in this release in the quantities anticipated by management; the continued penetration and growth of battery-less and self-powered technology and other products and technologies identified in this release; and other factors described in UEI’s filings with the Securities and Exchange Commission. The actual results that UEI achieves may differ materially from any forward-looking statement due to such risks and uncertainties. UEI undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Christine Bennett for Ambient Photonics
This email address is being protected from spambots. You need JavaScript enabled to view it. | +1 925.330.4783
Shoshana Leon for Universal Electronics Inc.
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RACINE, Wis.--(BUSINESS WIRE)--Cree Lighting today announced an all new canopy lighting solution, the CPY500™ Series. With a modern, innovative design, this fixture provides fuel islands and commercial canopies with category-leading levels of curb appeal, visual comfort, energy efficiency and customer attraction.
Research shows that more than 50% of drivers rank lighting quality high in importance when choosing a gas station (Beard, 2018). The new CPY500™ Series fixture sports an ultra-low-profile design that blends into the canopy, a unique slimline edge-lit bezel to provide “sparkle” that attracts the eye of passing drivers, and overall, sets the new canopy lighting benchmark in visual comfort, light uniformity and ease of installation and service.
“Retail petroleum companies seeking to differentiate their brands are investing in better fuel island experiences, cleaner restrooms and larger convenience store layouts – and lighting plays a central role in all these,” said Erik Milz, Cree Lighting Vice President of Products. “We designed our all-new CPY500™ Series to win the stamp of approval from consumers as well as the company CFO. Our product teams poured breakthrough thinking, the latest technology and deep industry know-how into this new design. With the performance levels achieved, we expect demand will not just come from replacing incandescent systems - it will include retailers with inferior LED canopy fixtures as well.”
The new CPY500™ Series combines an attractive, low-profile form factor, diffused optics and an expansive 11” x 11” edge-to-edge illuminated lens design, providing a 246% larger illuminated surface area than a typical 7” x 7” canopy fixture. The new design was carefully engineered to minimize up-light and spillover, ensuring every lumen is directed where it is needed, resulting in fuel islands bathed in crisp, uniform light with significantly higher visual comfort. Multiple lens and bezel configurations enable owners to fine-tune the lighting experience to their specific requirements and preferences.
Designed from the ground up and rigorously tested, the CPY500™ Series rings the bell on all counts – aesthetics, performance and utility. Delivering up to 165 lumens per watt with superior visual comfort compared to alternatives, the new CPY500™ Series sets a new industry benchmark in efficiency, light distribution, low glare and overall performance, cutting operating costs by more than 65% compared to traditional lighting sources. DLC Premium qualification enables many owners to leverage rebates, which further reduces the cost of updating, making it even easier to justify creating a safer, more efficient and more welcoming environment.
“The CPY500™ Series also sets itself apart with streamlined, labor-saving serviceability for both new construction and retrofit scenarios,” said Milz. “Installation of the CPY500™ Series can be done by one person working below and then above the canopy for wire-up. The components are then easily accessed for inspection or service from below. There’s no need to go topside on the canopy after initial installation.” New construction requires only a 4” hole in the canopy, while retrofit installations are also a breeze. A unique angled driver housing design allows installation even in tight spaces where traditional luminaires cannot be installed because of canopy structural member interference.
Flexibility was built into the portfolio to ensure owners are covered for every situation:
The CPY500™ Series LED canopy luminaire is now available for order through Cree Lighting® petroleum sales channels throughout North and South America. To learn more about this breakthrough luminaire, please visit www.creelighting.com/CPY500.
About Cree Lighting
Cree Lighting, A company of IDEAL INDUSTRIES, is a market-leading innovator of commercial and residential LED lighting solutions for exterior, interior and intelligent lighting applications. Cree Lighting’s cutting-edge technology delivers proven value and best-in-class performance for petroleum and c-stores, cities and utilities, commercial and industrial customers. Cree Lighting is committed to transforming the way people experience light through meaningful innovation and leading energy efficiency that help make cities more productive and businesses more profitable. Visit https://www.creelighting.com for more information.
Cree Lighting® is a registered trademark of Cree, Inc.
Beard, F. (2018). Back to Basics. NACS Magazine. https://www.nacsmagazine.com/issues/august-2018/back-basics
Carrie Martinelli
Cree Lighting
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919-395-0307
LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (PCTL Pink) is pleased to announce that it has acquired rights to a novel liquid- and gaseous-delivery technology developed by Colorado-based Onza Corporation (OnzaCorp.com) The patent-pending technology will allow PCT (para-con.com) to convert its proprietary hypochlorous acid into a dry crystal, making it much simpler to handle and ship while still maintaining all its inherent qualities. On arrival to customers, it can be easily converted back to liquid form, which means that its normal 30-day active life can be extended until needed.
Gary Grieco, CEO and Chairman of PCT LTD stated, “Shipping costs and shelf life have been real limiting factors for the expansion of our fluid sales. Incorporating this technology to essentially eliminate fluid weight and greatly extend the shelf life is a game changer!”
This new cost-cutting delivery method for efficacious but unstable compounds like chlorine dioxide and hypochlorous acid opens the door to several new uses and applications for these compounds while greatly expanding current markets. Without this technology, these compounds must be produced onsite for immediate use. The half-life of chlorine dioxide, for example, is short; depending on conditions, it may be as short as a few minutes.
Onza is a technology company based in Colorado that has also applied its platform technology to successfully stabilize ozone gas into a solid, stable matrix. The company has been successful in crystalizing and shipping efficacious amounts of ozone for use weeks later. Bacterial testing using the crystalized compound conducted at a leading US medical university verified high-killing assays against E. Coli. A third-party testing was carried out at an ISO-17025 accredited laboratory has shown killing of many other common food-borne pathogens. All results were repeatable across organisms and production batches.
PCT LTD has negotiated exclusive rights for any application with respect to crystalized hypochlorous acid and exclusive medical applications for crystalized chlorine dioxide. Market study and cost analysis plans are being formulated for both compounds to be tested in multiple applications and scenarios.
About PCT LTD:
PCT LTD ("PCTL") focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.
Forward-Looking Statements:
This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; and any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Investor Relations Contact
Michael Iorlano
(760) 621-0062
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or
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www.para-con.com
www.pctcorphealth.com
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OAKLAND, Calif.--(BUSINESS WIRE)--Navis, the provider of operational technologies and services that unlock greater performance and efficiency for leading organizations throughout the global shipping industry, announced that it has gone live with Master Terminal by Navis at Inter Modal Logistic (IML) Milano Segrate Terminal (Ignazio Messina & C SpA), a long-time Master Terminal customer. Milano Segrate is in the process of upgrading its inland and intermodal terminals to integrate with Intermodal Marine Terminal in the Port of Genoa which has operated on the TOS for more than 10 years. IML - Milano Segrate is Messina’s first intermodal terminal to go live on Master Terminal with future plans to expand to the Vicenza and Dinazzano inland terminals.
IML - Milano Segrate, an intermodal container depot that operates at 100,000 TEU annually, receives cargo from Genoa by train and distributes across Belgium, Holland, Germany and southern Italy. Having direct connectivity with and operating on the same system as its Genoa facility allows the Milano team to better track operations, gain better control over yard and terminal handling moves, optimize storage planning and scale EDI capabilities across multiple Messina terminals.
The three-month implementation was aided by staffers at the Genoa terminal who spearheaded training for gate clerks, yard supervisors, and yard planners at Milano alongside Navis who provided advanced training and go-live support.
“Our Milano team was relying on manual spreadsheets for storage planning and had challenges tracking containers before we implemented Master Terminal,” said Ignazio Messina, CEO of Ignazio Messina & C. SpA. “Shipping and logistics need integrated IT solutions like Master Terminal to address inefficiencies. It offers a commercial advantage that we look forward to adding throughout our company to gain the same insights we have in Milano and Genoa.”
The Master Terminal operating system provides an integrated, real-time view of all operations and data at any marine or inland terminal to enhance productivity and operational efficiency via data-driven decision making. The customizable operating system helps manage general and mixed cargo with intermodal capabilities.
“Since Genoa was already using Master Terminal, it was a quick and seamless implementation in Milano,” said Jacques Marchetti, General Manager, EMEA at Navis. “Improving yard operations was one of the biggest priorities on this project and as Messina terminals continue to integrate Master Terminal, crews will become even more efficient.”
For more information visit www.navis.com.
About Navis, LP
Navis is a provider of operational technologies and services that unlock greater performance and efficiency for the world’s leading organizations across the cargo supply chain. Navis combines industry best practices with innovative technology and world-class services, to enable our customers, regardless of cargo type, to maximize performance and reduce risk. Through its holistic approach to operational optimization, Navis customers benefit from improved visibility, velocity and measurable business results. Whether tracking cargo through a terminal, improving vessel safety and cargo capacity, optimizing rail network planning and asset utilization, automating equipment operations, or managing multiple terminals through an integrated, centralized solution, Navis helps all customers streamline operations. www.navis.com.
Jennifer Grinold
Navis, LLC
T+1 510 267 5002
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Anna Patrick
Gregory FCA
T+1 212 398 9680
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Company’s upcoming 110,000 square foot facility in Surrey to provide hundreds of jobs
VANCOUVER, British Columbia--(BUSINESS WIRE)--Damon Motors today announced it will build a cleantech manufacturing and R&D plant in Surrey B.C. The state-of-the-art, 110,000 square foot facility, being developed in partnership with Bosa Properties, will serve as ground zero for production of Damon’s flagship HyperSport, the world’s smartest, safest, fully electric motorcycle. Details will be revealed at a special kickoff ceremony on October 5, 10 a.m.–12 p.m. at the Surrey City Hall Atrium. Surrey Mayor Doug McCallum and Bruce Ralston, British Columbia Minister of Energy, Mines and Low Carbon Innovation, will be among the dignitaries in attendance.
“As Damon accelerates a clean energy future with our electric vehicles, we’re also introducing a cleaner, industry-leading manufacturing process,” said Jay Giraud, co-founder and CEO, Damon Motors. “We’re excited to produce our highly anticipated HyperSport motorcycles here in Surrey, British Columbia and look forward to this world-class facility delivering the safest and cleanest premium, high-technology motorcycles on the market.”
“We, at Bosa Family Companies, are proud to partner with such an exciting, new company to bring this site to life and drive new green jobs in our region,” added John Martin, Vice President at Bosa Commercial. “This local start-up success story is a source of great pride for British Columbians, and we’re pleased to be part of the strategy to keep Damon Motors thriving here at home.”
The new Damon manufacturing plant is expected to stimulate Surrey’s local economy with several hundred jobs. Projections suggest that by 2025, the plant will create more than 300 high-tech manufacturing jobs and more than 500 high-tech office jobs.
“British Columbia is quickly becoming an EV hotspot and the arrival of the Damon Motors manufacturing facility puts Surrey right in the middle of it,” said Surrey Mayor Doug McCallum. We’re honored Damon has selected Surrey for its production headquarters and are proud to welcome this dynamic and innovative young company to our city.”
“B.C. is home to many innovative clean-tech companies that are helping us grow as a leader in the electric vehicle sector,” said Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. “We’re proud to support Damon Motors who will help us meet our Clean BC goals and create new good-paying jobs in the province. The strength of the innovative approach Damon Motors exhibits will propel the company toward being a global leader.”
Damon’s manufacturing plant announcement comes as the company has surpassed $40M in orders for the award-winning HyperSport. The electric superbike offers unparalleled safety, comfort, and performance with groundbreaking technology and zero tailpipe emissions. It features the CoPilot™ advanced warning system, Shift™, which transforms the riding position between sport and commuter modes while in motion, and HyperDrive™, the world’s first monocoque constructed, 100 percent electric, multi-variant powertrain platform.
To reserve your HyperSport and to learn more about Damon Motors, visit www.damon.com.
About Damon Motors Inc.
Damon is unleashing the full potential of personal mobility for the world’s commuters. With its HyperDrive™ proprietary electric powertrain, the company has developed the world’s safest, smartest, fully connected electric motorcycles employing sensor fusion, robotics and AI. Designed as a platform for worldwide line extension, Damon motorcycles will ship direct to customers on subscription plans to drive scale. Based in Vancouver, Canada, Damon is founded by serial entrepreneurs Jay Giraud and Dom Kwong. Learn more at damon.com and follow us on Instagram @damonmotorcycles.
About Bosa Commercial
Bosa Family Companies is a wholly-integrated, family-run company, with a 50 year history of innovation and excellence in construction, real estate development, asset management and real estate services, making it one of Canada’s most respected privately-owned brands. With roots in construction excellence, subsidiaries Bosa Properties, Bosa Commercial and BlueSky Properties benefit from the highest level of craftsmanship and precision in every detail from the in-house construction teams. Based in Vancouver, B.C., Bosa Commercial is full-service property management firm, providing management, operations and facilities services to a diverse portfolio of over 70 retail, office, industrial and mixed-use properties across the Lower Mainland, Vancouver Island, Northern BC and Interior BC. Our team of qualified property managers, administrators, operations managers and service providers come with years of experience in the industry, with a focused commitment of building customers for life. For more information, visit www.bosacommercial.com
Donna Loughlin Michaels
LMGPR
408.393.5575
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The headquarters relocation and personnel expansion will support Sustainable Oils target of contract-growing more than one million acres of camelina annually for renewable diesel production
GREAT FALLS, Mont.--(BUSINESS WIRE)--Global Clean Energy Holdings, Inc. (OTCQX: GCEH) today announced that Sustainable Oils, Inc., its camelina feedstock subsidiary, is relocating its North American headquarters to a new state-of-the-art facility in Great Falls, Montana. This new facility will consolidate Sustainable Oils crop innovation programs, commercial grower support and executive and administrative activities at one location and will be fully operational by November 1, 2021.
The new facility and the additions to its technical and commercial teams will support Sustainable Oils Camelina breeding and development program and Sustainable Oils’ goal of cultivating over one million acres of camelina to produce low carbon intensity, nonfood feedstock to be used at GCEH’s renewable diesel refinery in Bakersfield, California. Under its crop innovation and breeding programs, Sustainable Oils continues to increase the commercial value of camelina through agronomics and improved plant genetics to increase overall yield, modify plant oil chemistry to enhance biorefinery efficiency and improve livestock feed qualities.
“We have aggressive expansion plans for camelina production with our goal of over one million acres of annual production projected at market maturity, and Great Falls is an excellent location for our headquarters as it is the anchor of Montana’s agricultural ‘Golden Triangle,’” stated Mike Karst, President of Sustainable Oils. “While this is a large target for us, we believe it is a positive revenue generator for our contract growers as it will generate over $250 million per year of additional revenue to them and their rural communities.”
“Camelina is an integral part of the feedstock plan for GCEH’s vertically integrated farm-to-fuels strategy, to produce renewable diesel at its refinery in Bakersfield, California, and beyond. Our Camelina varieties have been approved through California's Low Carbon Fuel Standard program, which adds significant value to the camelina oil,” said Richard Palmer, CEO of GCEH. “We will continue to invest heavily in the science, grower education and the necessary grain logistical systems to make it a success in Montana and other states in the Western United States.”
Sustainable Oils maintains a large intellectual property portfolio of camelina, including various patented varieties. With a short growing cycle and excellent water efficiency, Sustainable Oils’ patented varieties exhibit superior agronomic performance and increased tolerance to both drought and frost versus alternative crops. Sustainable Oils’ Camelina also produces higher oil content and has the lowest carbon intensity score of any plant-based renewable diesel feedstock alternatives. Renewable diesel made from Sustainable Oils’ Camelina is a high-demand drop-in fuel that meets all specifications for today’s engines, which makes it the cropped feedstock of choice for renewable diesel production.
About Global Clean Energy Holdings, Inc.
Global Clean Energy Holdings, Inc. (“GCEH”) is a uniquely positioned vertically integrated renewable fuels company. GCEH’s strategy since the inception of its business has been 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.
GCEH Corporate Presentation: The Company is providing its initial Corporate Presentation to stakeholders on its website. This presentation describes the Company’s business strategy, unique industry position and environment, history, and general pertinent information. The presentation will be filed with the Securities and Exchange Commission and uploaded on the Company’s website.
About Sustainable Oils, Inc.
Sustainable Oils, Inc., GCEH’s wholly owned plant science subsidiary, owns an industry leading portfolio of intellectual property rights, including patents and production know-how, to produce its proprietary varieties of camelina as a nonfood based ultra-low carbon biofuels feedstock. Sustainable Oils, Inc. was formed in 2007 and its headquarters is in Great Falls, Montana.
Forward-Looking Statements
Certain matters discussed in this press release are “forward-looking statements” of Global Clean Energy Holdings, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, the Company’s ability to have one million acres of Camelina in production in Montana, are forward-looking statements and are subject to a number of risks and uncertainties. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are described in the sections titled “Risk Factors” in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K.
Global Clean Energy Holdings, Inc.
Natalie Findlay
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(424) 318-3518
Sustainable Oils, Inc.
Fran Castle
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(919) 348-8013
The new collaboration plans to leverage Nuvve’s technology and Stonepeak’s and Evolve’s capital through Levo to offer fully financed, V2G-enabled BYD medium- and heavy-duty electric fleet vehicles
LOS ANGELES & SAN DIEGO--(BUSINESS WIRE)--BYD, the world leader in electric vehicles, and Levo Mobility LLC (“Levo”), a joint venture of Nuvve Holding Corp. (Nasdaq: NVVE) (“Nuvve”), affiliates of Stonepeak Partners LP (“Stonepeak”), and Evolve Transition Infrastructure LP (NYSE American: SNMP) (“Evolve”) that provides Fleet-as-a-Service (“FaaS”) solutions enabling fleets to switch to electric vehicles (“EVs”) rapidly, today announced a collaboration to integrate Nuvve’s leading vehicle-to-grid (“V2G”) technology with a mix of BYD battery electric vehicles (“BEVs”) and plans for joint deployment of up to 5,000 BEVs over the next five years.
“The BYD-Levo collaboration has the potential to accelerate and transform the transportation sector at a critical time,” said BYD Motors President, Stella Li. “This innovative potential partnership leverages state-of-the-art BYD and Nuvve technologies and will provide access to Stonepeak’s financing, which will lower the cost of medium- and heavy-duty battery electric vehicle adoption for fleets of all types including mass transit, municipalities, last mile delivery and school districts.”
Nuvve’s proprietary V2G technology utilizes high-powered bidirectional charging stations, which not only charge the batteries but also discharge energy from the batteries back into the power grid as needed to help balance temporary spikes in electricity demand. Utilizing Nuvve’s bidirectional charging stations and proprietary software, the BEVs can act as energy storage assets discharging megawatts of capacity to the grid and performing other services that help stabilize the grid and prevent blackouts while ensuring that each BEV has enough charge for the next trip. In addition to saving electric fleets money by charging when utility rates are low, Nuvve’s platform also enables revenue opportunities from these grid services.
Through a preferred financing partnership with BYD, Levo intends to purchase up to 5,000 medium and heavy duty V2G-enabled BEVs over five years that may include transit buses and coaches, yard tractors, drayage and refuse trucks, last mile delivery vehicles and school buses.
Levo's comprehensive offering streamlines electrification by providing fleet owners and operators with a turnkey solution that includes electric vehicles, associated charging infrastructure and energy management powered by Nuvve, maintenance, site planning, and more. These services are provided to customers for a fixed monthly payment with no upfront cost.
“Our collaboration with BYD continues the momentum of transportation electrification that Nuvve is passionate about,” said Gregory Poilasne, Chairman and CEO of Nuvve and Chairman of Levo Mobility. “By integrating our V2G platform with a variety of medium and heavy-duty electric fleets, we can introduce these vehicles to the grid in a much more intelligent and sustainable way, help integrate more renewable energy sources, and ultimately accelerate the reduction of harmful CO2 emissions.”
“We are very pleased to foster a fantastic working relationship with Levo, Nuvve, and Stonepeak,” said Sam Kang, BYD’s head of Total Solutions. “This partnership would provide a much-needed financing solution and the world’s leading V2G platform to catalyze the electrification initiative. Ultimately, this will reduce substantial carbon emissions so we can all have a breath of fresh air.”
“With over $20B in revenue and more than 65k electric buses deployed worldwide, BYD is a giant in electric mobility – we are thrilled to announce Levo’s partnership with BYD as its preferred financing partner,” said Trent Kososki, Managing Director at Stonepeak. “Our joint efforts aim to rapidly accelerate deployments of safe, cost-effective and environmentally friendly electric transportation solutions leveraging Levo’s fully-financed solution. BYD’s customers now have a means to avoid up-front costs and immediately enjoy the immense benefits of electric vehicles including immediate, day one fuel and maintenance savings.”
About BYD
The Official Sponsor of Mother Nature™, BYD, which stands for Build Your Dreams, is the world’s leading electric vehicle company with proven innovative technology for cars, buses, trucks, forklifts, and rail systems – like SkyRail. BYD is dedicated to creating a truly zero-emission ecosystem offering technology for solar electricity generation, energy storage to save that electricity, and battery-electric vehicles powered by that clean energy. Globally, BYD is committed to corporate social responsibility, monitoring our supply chain in terms of human rights, environmental safety, hazardous substance control and intellectual property rights. We select only suppliers who share our commitment to labor practices, human rights standards and the environment.
BYD has 220,000 employees across the globe, including nearly 1,000 in North America. BYD is the world leader in electric vehicles with more than 65,000 battery-electric transit buses and motor coaches to customers worldwide.
For more information, please visit www.BYD.com or follow BYD on LinkedIn, Twitter, Facebook and YouTube.
About Levo Mobility
Levo Mobility LLC (Levo) is a joint venture of Nuvve Holding Corp., affiliates of Stonepeak Partners LP, and Evolve Transition Infrastructure LP that provides FaaS solutions enabling fleets to switch to electric vehicles quickly with no upfront costs and full financing options. For a flat fee, Levo provides turnkey support including site planning, construction services, deployment of V2G-enabled EVs and associated charging infrastructure, as well as maintenance and V2G energy management services to seamlessly transition a customer's fleet to electric while lowering their total cost of EV operation. Levo combines Nuvve’s proprietary V2G technology, EV OEM partnerships, and expertise in transportation electrification with substantial capital and additional resources from Stonepeak and Evolve to bridge the gap between the need to electrify transportation and the large upfront investment needed to do so. Levo’s mission is to be the all-in-one partner for fleet electrification while intelligently integrating EVs into the grid and increasing the penetration of clean energy sources. For more information visit levomobility.com.
About Nuvve Holding Corp.
Nuvve Holding Corp. (Nasdaq: NVVE) (“Nuvve”) is accelerating the electrification of transportation through its proprietary vehicle-to-grid (“V2G”) technology. Its mission is to lower the cost of electric vehicle ownership while supporting the integration of renewable energy sources, including solar and wind. Nuvve’s Grid Integrated Vehicle, GIVe™, platform is refueling the next generation of electric vehicle fleets through intelligent, bidirectional charging solutions. Since its founding in 2010, Nuvve has launched successful V2G projects on five continents and is deploying commercial services worldwide by developing partnerships with utilities, automakers, and electric vehicle fleets. Nuvve is headquartered in San Diego, California, and can be found online at www.nuvve.com.
Nuvve and associated logos are among the trademarks of Nuvve and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $39 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, and to have a positive impact on the communities in which it operates. Stonepeak sponsors investment vehicles focused on private equity and credit. The firm provides capital, operational support, and committed partnership to sustainably grow investments in its target sectors, which include communications, energy transition, power and renewable energy, transport and logistics, and water. Stonepeak is headquartered in New York with offices in Houston, Austin and Hong Kong. For more information, please visit www.stonepeakpartners.com.
About Evolve
Evolve Transition Infrastructure LP (NYSE American: SNMP) is a publicly-traded limited partnership formed in 2005 focused on the acquisition, development and ownership of infrastructure critical to the transition of energy supply to lower carbon sources.
Additional information about Evolve can be found in the documents on file with the U.S. Securities and Exchange Commission (SEC) which are available on Evolve’s website at www.evolvetransition.com and on the SEC’s website at www.sec.gov.
Nuvve Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact, regarding the Nuvve’s strategy, future operations, estimated and projected financial performance, prospects, plans and objectives are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Nuvve disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Nuvve cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Nuvve, including the following factors: (i) Nuvve’s dependence on widespread acceptance and adoption of electric vehicles, V2G, and increased installation of charging stations; (ii) Nuvve’s current dependence on sales of charging stations for most of its revenues; (iii) overall demand for electric vehicle charging and the potential for reduced demand if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of electric vehicles or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; (iv) potential adverse effects on Nuvve’s revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by Nuvve; (v) the effects of competition on Nuvve’s future business; (vi) risks related to Nuvve’s dependence on its intellectual property and the risk that Nuvve’s technology could have undetected defects or errors; (vii) changes in applicable laws or regulations; (viii) the COVID-19 pandemic and its effect directly on Nuvve and the economy generally; (ix) risks relating to privacy and data protection laws, privacy or data breaches, or the loss of data; (x) the demand for, full financing of, and expected benefits from Levo electrification projects; and (xi) the possibility that Nuvve may be adversely affected by other economic, business, and/or competitive factors. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the quarterly report on Form 10-Q filed by Nuvve with the SEC on May 21, 2021; in the proxy statement/prospectus filed with the SEC under Rule 424(b)(3) on February 17, 2021, and in the other reports that Nuvve has filed and will file from time to time with the SEC. Nuvve’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
Evolve Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact, included in this press release are forward-looking statements. Any statements that refer to Evolve’s future strategy, future investments, future uses of capital, future operations, plans and objectives of management or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release may include, for example, statements about Evolve’s deployment of capital to Levo in support of the BYD-Levo collaboration, the anticipated benefits of such collaboration, and other statements about Levo or BYD. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “project” or the negative of such terms or other similar expressions. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Evolve disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about BYD, Levo, Stonepeak and Evolve that may cause Evolve’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward looking statements. Management cautions all readers that the forward-looking statements contained in this press release are not guarantees of future performance, and Evolve cannot assure any reader that such statements will be realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in forward-looking statements. Evolve’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Report on Form 10-Q for the three months ended June 30, 2021 and other filings with the SEC which are available on Evolve’s website at www.evolvetransition.com and on the SEC’s website at www.sec.gov, discuss some of the important risk factors that may affect Evolve’s business, results of operations, and financial condition and you are encouraged to read such filings. These cautionary statements qualify all forward-looking statements attributable to Evolve or persons acting on Evolve’s behalf.
BYD
Jim Skeen/media relations specialist
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661-436-0513
Nuvve Press Contact
(W)right On Communications
Chance Shay
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+1 619-980-5556
Nuvve Investor Contact
ICR
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Stonepeak Press Contact
Kate Beers
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646-540-5225
Evolve Contact
Charles Ward
Chief Financial Officer
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(713) 800-9477
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