HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE:HESM) (“Hess Midstream”) announced today that John Gatling, President and Chief Operating Officer, Jonathan Stein, Chief Financial Officer, and Jennifer Gordon, Vice President, Investor Relations, will meet with investors on June 22-23, 2021 at the J.P. Morgan Energy, Power and Renewables Conference and will participate in a fireside chat on June 22 at 2:40 p.m. Eastern Time.
A presentation has been posted in the “Investors” section of the Hess Midstream website at www.hessmidstream.com.
About Hess Midstream
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
Forward-Looking Statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Generally, the words “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “believe,” “intend,” “project,” “plan,” “predict,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and current projections or expectations. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by Hess Midstream with the U.S. Securities and Exchange Commission, which are available to the public. Hess Midstream undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investors:
Jennifer Gordon
(212) 536-8244
Media:
Robert Young
(713) 496-6076
PITTSBURGH--(BUSINESS WIRE)--Wabtec Corporation (NYSE: WAB) and the Port of Kiel celebrated the installation of a sustainable shore power solution to support cruise operators. ShoreCONNECT has potential to reduce nearly all emissions from cruise ships by providing shore power, while berthing at the port.
“The installation of our ShoreCONNECT solution will advance the port’s sustainability efforts,” said Olivier Kompaore, Vice President Power Collection for Wabtec. “A large cruise ship typically burns through 30,000 liters of diesel every 8-10 hours it spends at port. ShoreCONNECT provides cruise operators a clean, alternative power source while berthing, which reduces operating costs, emissions and noise.”
The ShoreCONNECT mobile carrier system is a flexible solution that connects electrical power to vessels at port, eliminating the need to use diesel. This approach reduces fuel consumption and carbon emission drastically. It also provides an important reduction in noise and vibrations as the engines will be turned off while the vessels will be connected to ShoreCONNECT.
“The Ports of Kiel and the Port of Rostock are focused on running progressive, sustainable operations,” said Kompaore. “These ShoreCONNECT installations will position them to help address the required 40-percent reduction in CO2 emissions from ships by 2030 and support the local sulfur emission control area established in the Baltic region.”
The solution at Kiel connects one vessel to shore power with up to 16 MVA High Voltage, self-propelled, zero-emission vehicle. ShoreCONNECT is also installed Kiel’s at ferry terminal. Both conform to the ISO standard IEC 80005-1.
The system can meet the full shore-power needs of large vessels. It also enables fast handling by a single operator and features a fully automated tidal-range compensation.
About Wabtec
Wabtec Corporation (NYSE: WAB) is focused on creating transportation solutions that move and improve the world. The company is a leading global provider of equipment, systems, digital solutions and value-added services for the freight and transit rail industries, as well as the mining, marine and industrial markets. Wabtec has been a leader in the rail industry for over 150 years and has a vision to achieve a zero-emission rail system in the U.S. and worldwide. The company has approximately 27,000 employees located at facilities in 50 countries throughout the world. Visit Wabtec’s new website at: www.wabteccorp.com.
Raphael Hinninger
Wabtec
+33 (0)6 71 83 60 36
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NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Watts Water Technologies, Inc. (NYSE: WTS) – one of the world’s leading manufacturers and providers of plumbing, heating, and water quality products and solutions – today announced the release of its 2020 Sustainability Report, which highlights the Company’s environment, social and governance (ESG) practices and its commitment to best-in-class sustainability performance.
“After a year that challenged us in many ways, I am proud that we never wavered in our commitment to protect and sustain the world’s water supply through our diverse portfolio of water technologies and solutions. As responsible corporate citizens, we continued to make significant gains across each dimension of sustainability while maintaining focus on meeting the needs of our stakeholders,” said CEO and President Robert J. Pagano Jr. “I am deeply grateful to all of our employees around the world for their perseverance and dedication to Watts and our customers throughout the COVID-19 pandemic. They protected themselves and each other, while remaining steadfast in their commitment to supporting the long-term goals of our business.”
Key accomplishments highlighted in the report include:
To download Watts’ 2020 Sustainability Report or learn more about the Company’s ESG programs, visit www.watts.com/our-story/sustainability
About Watts Water Technologies
Watts Water Technologies, Inc., through its family of companies, is a global manufacturer headquartered in the USA that provides one of the broadest plumbing, heating, and water quality product lines in the world. Its subsidiaries and brands offer innovative plumbing, heating, and water quality solutions for commercial, residential and industrial applications. For more information, visit www.watts.com.
Timothy M. MacPhee
Treasurer & VP - Investor Relations
1-978-689-6201
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Leaders have taken a holistic, forward-looking view of IIoT networking solutions to advance operational intelligence in heavy industry
BOULDER, Colo.--(BUSINESS WIRE)--#Cisco--A new Leaderboard report from Guidehouse Insights examines the strategy and execution of 17 industrial IoT (IIoT) networking solutions vendors, with Nokia, Sierra Wireless, Cisco, and HPE ranked as the leading market players.
The IIoT is transforming the way heavy industry works, creating more efficient, safe, and profitable operations in environments from factory floors and power plants to remote oil & gas (O&G) production sites and mines. New communications protocols, particularly for wireless connectivity, are making IIoT a more economic choice and digitalization is an accelerating trend in heavy industry. According to a new Leaderboard report from Guidehouse Insights, Nokia, Sierra Wireless, Cisco, and HPE are the leading providers of industrial IoT networking solutions.
“These market players have taken a holistic, forward-looking view of IIoT networking solutions, integrating a range of emerging and evolving wireless networking in addition to cloud-based offerings and analytics overlays targeted at heavy industry,” says Richelle Elberg, principal research analyst with Guidehouse Insights. “These companies have also differentiated themselves from the competition through widespread IIoT project experience across multiple verticals and internal or partner-provided applications such as analytics for provision of end-to-end solutions.”
Several vendors trail these leaders with solid foundations for growth and long-term success. These contenders are well-positioned to become leaders but have not yet fully executed their product launches. To succeed, they will need to differentiate themselves with unique value add applications to secure greater demand and higher market penetration.
The report, Guidehouse Insights Leaderboard: Industrial IoT Networking Solutions Vendors, assesses the competitive landscape for IIoT networking solutions providers, and how well different companies are positioned to address customer needs. This report is intended to help market participants better understand their competitors’ solution offerings, differentiation, and track record in deploying IIoT networks. The report includes profiles of 17 IIoT networking vendors and ranks them according to Strategy and Execution scores. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 10,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Guidehouse Insights Leaderboard: Industrial IoT Networking Solutions Vendors, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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LEAWOOD, Kan.--(BUSINESS WIRE)--Tallgrass Pony Express Pipeline, LLC (“Pony Express”), operated by Tallgrass Energy, LP, today announced a binding open season soliciting shipper commitments for crude oil transportation utilizing expansion capacity from Pony Express’ Guernsey origin to Sterling, Colo.
Prospective shippers may review details of the open season after executing a confidentiality agreement obtained by contacting Matt Hester at This email address is being protected from spambots. You need JavaScript enabled to view it..
To learn more about Tallgrass Energy, please visit us at www.tallgrassenergy.com.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Tallgrass, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by Tallgrass. Any forward-looking statement applies only as of the date on which such statement is made, and Tallgrass does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Tallgrass Energy
Investor and Financial Inquiries
Andrea Attel, 913-928-6012
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Media and Trade Inquiries
Phyllis Hammond, 303-763-3568
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DUBLIN--(BUSINESS WIRE)--The "Vietnam Solar Photovoltaics Equipment Market, By DC Voltage Type (400V, 600V, 1000V & 1500V), By Installation Mode (Ground Mounted Vs Rooftop), By End User, By Module Type, By Type, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Vietnamese Solar Photovoltaics Equipment Market was valued USD9209.75 million in 2020 and is forecast to grow at CAGR of 12.09% in the next five years.
Growth in the market is anticipated on account of increasing electricity demand from industrial, commercial as well as residential end-user segments. With favorable initiatives taken in the solar sector by the Government of Vietnam, an increasing number of investors and developers are also increasing their investments in solar industry in different regions across the country.
For instance, in 2017, the government introduced FiT of USD9.35 cents/kWh, which generated interest in solar projects, majorly in the southern regions of Vietnam. In 2019, the government revised the FiT to USD6.67-10.87 cents/kWh, depending on solar power technology and region of deployment. As a result, the cumulative solar capacity of the country reached 5.5 GW in 2019 from 237 MW in 2018. The Vietnamese government is now considering moving from FiT to a competitive bidding scheme for solar projects which would increase the installed capacity and create thousands of new jobs in Vietnam.
Solar photovoltaics equipment market in Vietnam can be classified based on DC voltage, installation mode, end-user, module type, type of equipment and region. In 2020, the Vietnamese Solar Photovoltaics Equipment Market was dominated by the polycrystalline type of module due to its cheap price. However, the monocrystalline type of module is forecast to grow at the highest CAGR, owing to its high efficiency in solar systems for energy generation.
Massive boom in rooftop solar installations is the key factor to create a more stable power supply. Electricity Regulatory Authority of Vietnam has taken steps for large as well as small rooftop installations. In April 2019, Vietnam's Prime Minister issued a decision that set a new feed-in-tariff of USD83.80 per Megawatt Hour (MWh) for rooftop solar. Ground-mounted solar projects can receive USD70.90 per MWh. Throughout 2020, rooftop solar installations in Vietnam grew massively by more than 2000%, rising from a 2019 base of 378MW Peak to 9.58GW Peak, spread across almost 102,000 systems. State utility Vietnam Electricity Group (EVN) reported that rooftop solar installations totalled 2.9GW in November 2020 and 4.7GW on December 25, 2020.
According to the World Bank, there is a tremendous increase in electricity consumption in Vietnam. With a CAGR of 11% from 2016 to 2020, this consumption is expected to triple till 2030. As per the statistics published by 'enerdata', the total electricity consumption in Vietnam stood around 2,100 Kilo Watt Hour (kWh) in 2019 and this has increased on an average of 9% per year since 2010.
With this rising consumption, the average electricity price is increasing, and hence renewable energy is acting as a boon for the country's electricity requirements. Currently, there is a lot of scope for renewable energy to grow and the share of renewable energy in total energy production stands at around 25.62% in 2019. Moreover, with government's active participation to help the market grow, the solar PV equipment market is expected to continue growing significantly driven by the increasing consumption and prices of electricity in Vietnam.
Some of the major players operating
Years considered for this report:
Key Target Audience:
Report Scope:
Vietnam Solar Photovoltaic Equipment market, By Installation Mode:
Vietnam Solar Photovoltaic Equipment market, By Module Type:
Vietnam Solar Photovoltaic Equipment market, By End-User:
Vietnam Solar Photovoltaic Equipment market, By DC Voltage Type:
Vietnam Solar Photovoltaic Equipment market, By Type:
Vietnam Solar Photovoltaic Equipment market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/vt1gwn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HIGHLIGHTS
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG):
PERMIAN BASIN ACQUISITIONS
Northern Oil and Gas, Inc. (NYSE American: NOG) (“Northern”) announced today that it has entered into three definitive agreements to acquire non-operated interests across approximately 2,900 net acres located in the heart of Reeves County, Texas and Lea and Eddy Counties, New Mexico for a combined purchase price of $102.2 million.
May 2021 production on the assets was approximately 2,200 Boe per day (2-stream, 66% oil) and Northern expects average production of 3,700 Boe per day in the second half of 2021, assuming an August 1 closing. The estimated development plan on the properties over the next several years is expected to grow production to approximately 6,500 Boe per day, assuming current strip prices. Under this development scenario, Northern forecasts the assets to generate over $100 million of cumulative free cash flow through 2025.
The assets include 5.3 net producing wells, 5.0 net wells in process and an additional 23.1 net undrilled locations ascribed to the core zones including the Wolfcamp A, Wolfcamp B and 1st through 3rd Bone Springs. The assets are operated primarily by Mewbourne Oil Company, Colgate Energy, ConocoPhillips and EOG Resources.
The effective date for the majority of the transaction value is April 1, 2021. Northern consummated the acquisition of a portion of the assets in June and expects to close on the acquisition of the remaining assets in the third quarter of 2021. Northern estimates approximately $35 million of capital expenditures on the combined properties to be incurred in 2021, inclusive of estimated purchase price adjustments at closing of the acquisitions.
TRANSACTION FINANCING
The pending acquisition is expected to be funded through a combination of a common equity offering and, to the extent necessary, cash on hand and/or borrowings under Northern’s Senior Secured Credit Facility and the transactions are anticipated to be immediately leverage accretive.
MANAGEMENT COMMENTS
“These assets represent the trifecta,” commented Adam Dirlam, Chief Operating Officer of Northern. “We are acquiring high return core properties with top operators, assets with significant inventory and growth potential, and engaging in a transaction expected to meaningfully impact Northern’s free cash flow profile. We expect to generate over $100 million in free cash flow from the assets through 2025, based on current strip prices.”
“Consistent with our fundamental approach to growing our enterprise, these transactions achieve all of our stated goals,” commented Nick O’Grady, Chief Executive Officer of Northern. “These deals are immediately accretive to our enterprise and all relevant per share statistics. As promised, alongside a reduction in leverage ratios, it means an acceleration of our dividend strategy to shareholders, while augmenting our inventory and growth profile.”
UPDATED CAPITAL EXPENDITURES GUIDANCE |
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Current |
Previous |
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Total Capital Expenditures (in millions) |
$215 - $270 |
$200 - $250 |
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Northern has experienced significantly improved capital efficiencies year to date, and post-transaction, capital expenditures are expected to increase by only $15–20 million, despite approximately $35 million of development capital on the acquired properties. The implied $15–20 million reduction of Northern’s previous capital expenditure guidance, combined with the additional cash flows from the acquired properties, should serve to bolster Northern’s estimated free cash flow profile at current strip prices.
CONFERENCE CALL
Northern has recorded a conference call discussing the acquisitions. Those wishing to listen to the conference call may do so by calling Toll-Free U.S. 877-660-6853 or International +1 201-612-7415 and providing the Conference ID 13720652.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about Northern Oil and Gas, Inc. can be found at www.northernoil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Northern’s financial position, business strategy, plans and objectives of management for future operations and industry conditions are forward-looking statements, including statements regarding the expected production, drilling locations and free cash flow from the Permian assets, the expected closing date for the pending acquisition, Northern’s expected capital expenditures for 2021 and management’s intention to recommend an increase to Northern’s quarterly dividend. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Northern’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on Northern’s properties and properties pending acquisition, the effects of the COVID-19 pandemic and related economic slowdown, Northern’s ability to acquire additional development opportunities, changes in Northern’s reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which Northern conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, Northern’s ability to consummate any pending acquisition transactions (including the transactions described herein), other risks and uncertainties related to the closing of pending acquisition transactions (including the pending transaction described herein), Northern’s ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting Northern’s operations, products, services and prices.
Northern has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond Northern’s control. Northern does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Mike Kelly, CFA
Chief Strategy Officer
(952) 476-9800
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LONDON--(BUSINESS WIRE)--#Vortexa--Vortexa, a leading energy and shipping analytics platform, combining AI and deep industry expertise to provide the most complete real-time data and analytics tools for waterborne energy and shipping markets, is delighted to announce the launch of a suite of brand new Freight Analytics screens providing a past, present and future views of the supply and demand across all tanker classes globally.
The highly intuitive screens, including Vessel Availability, Congestion, Fleet Distribution and Fleet Utilisation surface clear, reliable and accurate data analysis and insights in real-time, allowing charterers, traders and ship owners to make high-stakes decisions in the shipping markets with confidence, seizing market opportunities before others.
Vortexa’s clients can instantly understand changes in global freight supply and demand in realtime to significantly strengthen their hand in the market. Charterers can accurately time chartering decisions, capture the best vessels in the market, minimise demurrage costs and optimise operations. Shipowners can evaluate supply and demand market dynamics to enhance fleet positioning and identify emerging freight trading opportunities. Traders can quickly identify early indicators of physical movements that will inevitably impact prices and influence time-sensitive decisions ahead of the energy markets.
Vortexa’s CEO, Fabio Kuhn said: ‘’Our next-generation of freight analytics will be a major source of competitive advantage to charterers, ship owners and traders. We are very excited to level up the shipping markets to the frontier of what’s possible today with deep technology and advanced industry expertise.’’
Click here to learn more about Vortexa’s Freight Analytics and request a demo today.
+++ Ends +++
About Vortexa
Vortexa tracks more than $1.8 trillion of waterborne energy trades per year in real-time, providing energy and shipping companies with the most complete picture of global energy flows available in the world today. Vortexa’s highly intuitive platform with programmatic API/SDK interfaces help traders, analysts and charterers make high-value trading decisions with confidence, when it matters the most.
Emma Boyle, Senior Communications Executive
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+44 7814767321
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has commenced an underwritten public offering of 5,000,000 shares of its common stock (the “Offering”). The Company intends to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.
The Company intends to use the net proceeds from the Offering and, to the extent necessary, cash on hand and/or borrowings under its revolving credit facility to fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated oil and gas properties and interests located in the Permian Basin (the “Permian Acquisition”). Pending the use of proceeds as described above, the Company may temporarily apply a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility. The consummation of the Offering is not conditioned upon the completion of the Permian Acquisition and the consummation of the Offering is not a condition to the completion of the Permian Acquisition. If the Permian Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the repayment of outstanding indebtedness.
Wells Fargo Securities is acting as lead book-running manager for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or emailing a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the Company’s plans to issue the common stock and the anticipated use of the net proceeds from the Offering. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: the effects of the COVID-19 pandemic and related economic slowdowns; changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; infrastructure constraints and related factors affecting the Company’s properties; ongoing legal disputes over and potential shutdown of the Dakota Access Pipeline; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Permian Acquisition; the Company’s ability to consummate the Permian Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Permian Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; and financial or political instability, health related epidemics, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products and prices. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward-looking statements.
The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. You are urged not to place undue reliance on these forward‑looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, the Company does not undertake, and specifically disclaims, any obligation to update any forward‑looking statements to reflect events or circumstances occurring after the date of such statements.
Mike Kelly, CFA
Chief Strategy Officer
952-476-9800
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McNabb brings more than 30 years of leadership experience in the charging infrastructure and automotive industries
SAN LEANDRO, Calif.--(BUSINESS WIRE)--FreeWire Technologies (“FreeWire”), a category leader in ultrafast electric vehicle (EV) charging solutions, today announced the appointment of Mark McNabb to its Advisory Board.
McNabb is the former President and Chief Executive Officer of Electrify America LLC, the largest open DC fast charging network in the U.S. He previously served as Chief Operating Officer of Volkswagen of America, Inc. where he was responsible for the management of sales, after-sales and customer experience for the brand. McNabb came to Volkswagen in 2013 with more than 25 years of experience in the automotive business, and previously served as the President and Chief Executive Officer of Maserati North America.
“I’m delighted to join FreeWire’s Advisory Board and contribute to its mission of deploying ultrafast chargers across the U.S. and globally,” said McNabb. “FreeWire’s battery-integrated Boost Charger technology is truly differentiated and unique in its ability to enable faster and more efficient ultrafast EV charging infrastructure, while also mitigating the strain on the grid. I look forward to working with the talented FreeWire team and their game changing technology to advance zero-emission vehicle adoption.”
“Mark will be an invaluable asset to FreeWire as we scale our fully-integrated charging technology and rapidly deploy Boost Chargers to our customers,” said Arcady Sosinov, Founder and CEO of FreeWire. “His experience leading Electrify America and as COO of Volkswagen of America provides us with access to his industry expertise and relationships that will advance our mission, while further validating FreeWire as a major player in the EV charging space.”
FreeWire’s Boost Charger connects to existing low-power grid connections while enabling ultrafast charging by using an integrated lithium-ion battery to provide power for up to 20 vehicles per day. This technological innovation can virtually eliminate the costs associated with grid upgrades and mitigates ongoing costs by reducing standing charges for electricity supply at the site. The Boost Charger only requires a relatively modest grid connection, similar to a typical slow charger (L2) supply, to trickle charge the charger battery throughout the day, while delivering a high-power output.
EV charging can place significant demands on the grid, especially on a local level and certain locations can’t be easily upgraded to high power connections. The flexibility of the Boost Charger solution means that significantly more locations will be able to benefit from rapid access to ultrafast charging.
About FreeWire Technologies
FreeWire's turnkey power solutions deliver energy whenever and wherever it's needed for reliable electrification beyond the grid. With scalable clean power that moves to meet demand, FreeWire customers can tackle new applications and deploy new business models without the complexity of upgrading traditional energy infrastructure.
FreeWire has deployed battery-integrated chargers with Fortune 100 companies, commercial customers, fleets, retail locations, and gas stations. In addition to the expanded partnership with bp pulse, FreeWire and ampm, a bp subsidiary and convenience store chain with over 1,000 locations, have already deployed multiple public charging stations in the U.S.
Learn more at www.freewiretech.com
Media:
Cory Ziskind
ICR
646-277-1232
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MIDLAND, Texas--(BUSINESS WIRE)--Colgate Energy Partners III, LLC (“Colgate”) announced today the pricing of its private placement to eligible purchasers of new 5.875% senior unsecured notes due 2029 in the aggregate principal amount of $500 million, which was increased from the originally proposed $400 million offering (the “Notes”). The notes were sold at par. The offering is expected to close on June 30, 2021, subject to customary closing conditions. Colgate intends to use the net proceeds from this offering to fund a portion of the recently announced acquisition of certain assets of Occidental in Reeves and Ward Counties (the “Occidental Acquisition”), and to pay related fees and other expenses.
The securities to be offered have not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Colgate plans to offer and sell the notes only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to persons outside the United States pursuant to Regulation S under the Securities Act.
This communication shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Colgate
Colgate is a privately held, independent oil and natural gas company headquartered in Midland, Texas that is engaged in the acquisition, exploration and development of oil and natural gas assets in the Delaware Basin. Pro Forma for the Occidental Acquisition, Colgate owns approximately 83,000 net acres and produces approximately 55,000 Boe/d, primarily in Reeves County, Ward County, and Eddy Counties.
Forward-Looking Statements
This communication includes statements regarding this private placement that may contain forward-looking statements within the meaning of federal securities laws. Colgate believes that its expectations and forecasts are based on reasonable assumptions; however, no assurance can be given that such expectations and forecasts will prove to be correct. A number of factors could cause actual results to differ materially from the expectations and forecasts, anticipated results or other forward-looking information expressed in this communication, including risks and uncertainties regarding future results, Colgate’s ability to complete the Occidental Acquisition, the sources of funding for any remaining portion of the purchase price for the Occidental Acquisition, capital expenditures, liquidity and financial market conditions, sufficiency of cash from operations, adverse market conditions, governmental regulations, the future actions of foreign oil producers such as Saudi Arabia and Russia and the effects of such actions on the supply of oil, and the impact of world health events such as the COVID-19 pandemic.
Michael Poynter
432-695-4222
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LISBON, Portugal--(BUSINESS WIRE)--#americas--Cleanwatts, the leading cleantech for smart energy communities, combining the power of energy efficiency and distributed energy solutions, presents Michael Mahan as President of Cleanwatts Americas, assuming the responsibility of sales and operations in American continent, in particular USA.
Michael Mahan’s career covers 30 years of sustainable energy experience in business and project development, sales, marketing, product management, operations, and executive leadership. Starting with General Electric in 1983 his background and growth with rechargeable batteries provided the foundation for emerging energy technology, energy management systems, renewable energy, and battery storage integration for utility (large scale) and commercial - industrial (medium scale) projects. Mr. Mahan is recognized for successful “Early Stage” technology innovations and scale of battery and energy software startups working with global research institutes such as DOE LLNL and Taiwan’s ITRI. Michael is a respected industry speaker and has served as both officer and board member for public and private corporations.
“Cleanwatts operating systems approach is a game changer providing a simple and flexible solution with intelligent controls to process and optimize behind the meter and front of the meter requirements. We have started building a more sustainable environment in the Americas while also providing value connecting solar energy generation assets with energy communities. The journey forward now has a bridge connecting many of my former associates, projects and ecosystem partners with the Cleanwatts operating system to a more sustainable energy future for the Americas.” - Michael Mahan, President of Cleanwatts Americas.
This is another important decision taken by Cleanwatts in order to reinforce the international growth path, which is focused on expanding to markets outside Portugal, in order to provide the best digital energy management solutions, providing turnkey solutions to companies and communities that they are looking for clean, local and cheaper energy. Cleanwatts delivers its services through a suite of wing-to-wing proprietary software platforms that allow clients to manage, optimize and control energy use in real time, from behind the meter applications to front of the meter balancing services. Acting as a smart utility, the company also offers zero capex solutions that deliver affordable clean energy to local communities through multi-year service contracts. Cleanwatts has a multidisciplinary team specialized in technology, energy and financial services, with more than 50 highly talented professionals, with solid experience in solving energy challenges for clients in Europe, Americas and Asia. The Cleanwatts Group currently serves more than 2000 customers, including 12 international airports and several energy communities, representing more than 2TWh.
“We’re super excited about Mike joining the team and driving our growth across the Americas with a special emphasis on building strategic partnerships in the US. Mike brings a wealth of expertise in respect of energy storage, generation and consumption asset classes, all of which are critical to the management of decentralized energy markets. Mike’s experience helps position Cleanwatts as the OS partner of choice to manage, optimize and control local energy community needs at every level, from residential consumers and municipalities to enterprises and local grid operators” - Michael Pinto, CEO and Co-Founder of Cleanwatts.
Cleanwatts:
Maria Wilton| Account Executive
BloomCast Consulting
This email address is being protected from spambots. You need JavaScript enabled to view it. | +351 935 450 050
www.linkedin.com/company/cleanwatts/
www.cleanwatts.energy/
HOUSTON--(BUSINESS WIRE)--Representatives of Cadent Energy Partners II, L.P. (“Cadent”) have informed Cactus, Inc. (the “Company,” “Cactus,” “we,” and “our”) that Cadent will transfer units representing limited liability company interests (“CW Units”) in Cactus Wellhead, LLC, together with the same number of shares of the Company’s Class B common stock, to various Cadent-affiliated entities (the “Cadent Transfer”).
Following the Cadent Transfer, Cadent intends to redeem approximately 3.3 million CW Units in exchange for an equal number of shares of Class A common stock in the Company (the “Cadent Redemption”) and to distribute such shares of Class A common stock to its limited partners (the “Cadent Distribution”). In connection with the Cadent Redemption, 3.3 million CW Units and an equal number of shares of Class B common stock will be cancelled.
Following the Cadent Transfer, the Cadent Redemption and the Cadent Distribution, Cadent’s general partner and management group will retain ownership of approximately 1.0 million shares of our Class A and Class B common stock, representing a 1.3% voting interest in the Company.
The Company will receive no proceeds from the Cadent Transfer, the Cadent Redemption or the Cadent Distribution, and there will be no change in the combined number of voting shares of Cactus, Inc. outstanding. Following the Cadent Transfer, the Cadent Redemption and the Cadent Distribution, Cactus will have 58,035,145 shares of Class A common stock outstanding (representing 76.7% of the total voting power) and 17,665,021 shares of Class B common stock outstanding (representing 23.3% of the total voting power).
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers in the United States, which are strategically located in the key oil and gas producing regions, including the Permian, SCOOP/STACK, Marcellus, Utica, Haynesville, Eagle Ford and Bakken, among other areas, and in Eastern Australia.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the number of CW Units to be redeemed and distributed in the Cadent Redemption and the Cadent Distribution, the timing thereof and the number of shares of the Company’s Class A common stock and Class B common stock outstanding following the transactions represent Cactus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Cactus does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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NEW YORK & OSLO, Norway--(BUSINESS WIRE)--FREYR AS (FREYR), the Norway-based developer of clean, next-generation battery cell production capacity, and Alussa Energy Acquisition Corp. (Alussa Energy) (NYSE: ALUS), are pleased to invite investors, analysts and other stakeholders to a Capital Markets Update webcast at 10:00 a.m. EDT/16:00 CEST on June 22, 2021 to discuss items related to the announced business combination and planned listing of FREYR Battery (Pubco) on the New York Stock Exchange, and to provide an update on business activities at FREYR.
The presentation will be hosted by Daniel Barcelo, Founder and CEO of Alussa Energy, Chi Chow, Strategy and Investor Relations of Alussa Energy and Tom Einar Jensen, CEO of FREYR.
In addition, the webcast will feature Jarand Rystad, CEO of Rystad Energy, who will provide the firm’s view on macro trends within the global energy transition and the accelerating demand for battery solutions.
Event details
Participation is possible via webcast and conference call. The event begins at 10:00 a.m. EDT/16:00 CEST and is expected to last approximately 90 minutes including a Q&A session. Questions to management can be submitted in writing via the webcast window during the event or by phone via the conference call during the Q&A session. Presentation slides used in the webcast by FREYR and Alussa Energy will be available prior to the event in the ‘Investors’ section at both www.freyrbattery.com and www.alussaenergy.com.
Please register for and join the webcast via this link: https://streams.eventcdn.net/freyer/alussa-energyfreyr-capital-markets-update/register.
Please dial one of the following numbers to join the conference call:
Canada: +16474848336
Denmark: +4578150108
France: +33170750735
Germany: +4969222220377
Hong Kong (香港): +85258033176
Luxembourg: +35227300167
Norway: +4723963688
Spain: +34914192768
Switzerland: +41225675632
United Kingdom: +443333009032
United States: +16467224903
About Alussa Energy Acquisition Corp.
Alussa Energy is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. While Alussa Energy may pursue an acquisition opportunity in any industry or sector, Alussa Energy intends to focus on businesses across the entire global energy supply chain. For more information, please visit www.alussaenergy.com.
About FREYR AS
FREYR plans to develop up to 43 GWh of battery cell production capacity by 2025 to position the company as one of Europe’s largest battery cell suppliers. The facilities will be located in the Mo i Rana industrial complex in Northern Norway, leveraging Norway’s highly skilled workforce and abundant, low-cost renewable energy sources from hydro and wind in a crisp, clear and energized environment. FREYR will supply safe, high energy density and cost competitive clean battery cells to the rapidly growing global markets for electric vehicles, energy storage, and marine applications. FREYR is committed to supporting cluster-based R&D initiatives and the development of an international ecosystem of scientific, commercial, and financial stakeholders to support the expansion of the battery value chain in our region. For more information, please visit www.freyrbattery.com.
Forward-Looking Statements
This press release contains, and certain oral statements made by representatives of Alussa Energy and FREYR and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Alussa Energy’s, Pubco’s and FREYR’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, expectations with respect to the shareholder approval of the business combination, the listing of Pubco’s common stock and warrants on the New York Stock Exchange, the production of clean and cost-effective batteries, the plan to deliver 43 GWh of next-generation battery cell manufacturing capacity in Norway by 2025, collaborations with customers and global supply chain partners across the transportation and energy storage sectors, the ability to leverage the Nordic region’s developing battery ecosystem and the closing of the business combination shortly after the Special Meeting. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of Alussa Energy, Pubco or FREYR and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to consummate the transaction due to failure to obtain approval of the shareholders of Alussa Energy; the inability to obtain the listing of Pubco’s common stock and warrants on the New York Stock Exchange following the transaction; the failure of capital to be delivered in the business combination; the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction; the inability to recognize anticipated benefits of the proposed business combination; the possibility that Alussa Energy, Pubco or FREYR may be adversely affected by other economic, business, and/or competitive conditions that might lead to, among other things, a failure to develop clean and cost-effective batteries, deliver on the targeted battery cell manufacturing capacity, leverage Norway’s perceived advantages in battery production and build collaborations with customers in the transportation and energy markets; and other risks and uncertainties identified in the registration/proxy statement relating to the transaction, including those under “Risk Factors” therein, and in other filings with the SEC made by Alussa Energy, Pubco and FREYR. Alussa Energy, Pubco and FREYR caution that the foregoing list of factors is not exclusive, and caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. None of Alussa Energy, Pubco or FREYR undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.
No Offer or Solicitation
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy any securities pursuant to the transaction or otherwise, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
No Assurances
There can be no assurance that the transaction will be completed, nor can there be any assurance, if the transaction is completed, that the potential benefits of combining the companies will be realized.
Information Sources; No Representations
This press release has been prepared for use by Alussa Energy, Pubco and FREYR in connection with the transaction. The information herein does not purport to be all-inclusive. The information herein is derived from various internal and external sources, with all information relating to the business, past performance, results of operations and financial condition of Alussa Energy was derived entirely from Alussa Energy and all information relating to the business, past performance, results of operations and financial condition of FREYR and Pubco was derived entirely from FREYR. No representation is made as to the reasonableness of the assumptions made with respect to the information herein, or to the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication as to future performance.
No representations or warranties, express or implied, are given in respect of this press release. To the fullest extent permitted by law in no circumstances will Alussa Energy, Pubco or FREYR, or any of their respective subsidiaries, affiliates, shareholders, representatives, partners, directors, officers, employees, advisors or agents, be responsible or liable for any direct, indirect or consequential loss or loss of profit arising from the use of this press release, its contents (including without limitation any projections or models), any omissions, reliance on information contained within it, or on opinions communicated in relation thereto or otherwise arising in connection therewith, which information relating in any way to the operations of FREYR or Pubco has been derived, directly or indirectly, exclusively from FREYR and has not been independently verified by Alussa Energy. Neither the independent auditors of Alussa Energy nor the independent auditors of FREYR or Pubco audited, reviewed, compiled or performed any procedures with respect to any projections or models for the purpose of their inclusion in this press release and, accordingly, neither of them expressed any opinion or provided any other form of assurances with respect thereto for the purposes of this press release.
Important Information about the Transaction and Where to Find It
In connection with the transaction, Alussa Energy and Pubco have filed and will file relevant materials with the SEC, including a Form S-4 registration statement filed by Pubco on March 26, 2021 and amended on May 7, May 27, and June 9, 2021 (the “S-4”), which includes a prospectus with respect to Pubco’s securities to be issued in connection with the proposed business combination and a proxy statement (the “Proxy Statement”) with respect to Alussa Energy’s shareholder meeting at which Alussa Energy’s shareholders will be asked to vote on the proposed business combination and related matters. ALUSSA ENERGY SHAREHOLDERS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ THE S-4 AND THE AMENDMENTS THERETO AND OTHER INFORMATION FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION, AS THESE MATERIALS WILL CONTAIN IMPORTANT INFORMATION ABOUT ALUSSA ENERGY, PUBCO, FREYR AND THE TRANSACTION. The S-4 was declared effective on June 14, 2021. The definitive Proxy Statement and other relevant materials for the transaction are being mailed to shareholders of Alussa Energy as of April 30, 2021. The preliminary S-4 and Proxy Statement, the final S-4 and definitive Proxy Statement and other relevant materials in connection with the transaction, and any other documents filed by Alussa Energy with the SEC, may be obtained free of charge at the SEC’s website (www.sec.gov) or by writing to Alussa Energy Acquisition Corp. at c/o PO Box 500, 71 Fort Street, Grand Cayman KY1-1106, Cayman Islands.
Participants in Solicitation
Alussa Energy, Pubco and FREYR and their respective directors, executive officers and employees and other persons may be deemed to be participants in the solicitation of proxies from the holders of Alussa Energy ordinary shares in respect of the proposed transaction. Alussa Energy shareholders and other interested persons may obtain more detailed information regarding the names and interests in the transaction of Alussa Energy’s directors and officers in Alussa Energy’s and Pubco’s filings with the SEC, including when filed, the S-4 and the Proxy Statement. These documents can be obtained free of charge from the sources indicated above.
For investor inquiries, please contact:
For Alussa Energy:
Chi Chow, Investor Relations
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Tel: (+1) 929-303-6514
For FREYR:
Steffen Føreid, Chief Financial Officer
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(+47) 975 57 406
Harald Bjørland, Investor Relations
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(+47) 908 58 221
For media inquiries, please contact:
For Alussa Energy:
Emma Wolfe
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For FREYR:
Hilde B. Rønningsen, Director of Communications
Phone: +47 4539 7184
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State’s Flex Alert Requests Voluntary Conservation from 5 to 10 p.m. Thursday
We All Can Help as a Few Simple Steps Can Reduce the Stress on the Grid
SAN FRANCISCO--(BUSINESS WIRE)--With possible record-high temperatures forecast for Thursday, June 17, the state’s grid operator has called for afternoon and evening energy conservation tomorrow throughout California as one way to make sure that the supply of power stays ahead of demand.
The Flex Alert, called by the California Independent System Operator (CAISO), has been issued for Thursday from 5 p.m. to 10 p.m. The grid operator is predicting an increase in electricity demand, primarily from air conditioning use due to the heat wave.
This statewide Flex Alert asks everyone to work together and conserve. Excessive heat warnings have been issued by the National Weather Service for many regions within PG&E’s service territory.
Saving Energy at Home
Here are five ways Pacific Gas and Electric Company (PG&E) customers can cut their power use and help keep the lights (and air conditioning) on for everyone:
Saving Energy at Your Office or Business
If you’re working in an office setting, CAISO recommends the following:
PG&E’s Demand Response programs offer incentives for business owners and residential customers who curtail their energy use during times of peak demand. PG&E has several of these programs. About 261,000 PG&E customers are enrolled in one of these Demand Response programs. PG&E’s website includes detailed information on these programs, which allow residential customers and business customers to save energy and money.
Customers can actively help by shifting energy use to morning and nighttime hours. Conservation can lower demand and reduce the duration of possible power interruptions.
PG&E’s in-house meteorologists say a strong high pressure has developed over the desert Southwest this week resulting in a warming trend that will see triple-digit heat return. Daytime maximums could top out in the 105- to 110-degree range through the San Joaquin and Sacramento valleys with 90s to near 100 degrees possible across inland Bay Area valleys.
PG&E is prepared and, based on forecasts, doesn’t anticipate any issues meeting the increased demand for power. At this point, CAISO has given no indication that it will call for rotating outages. PG&E does not project a need for a Public Safety Power Shutoff due to this weather, but conditions will be continuously monitored.
PG&E also urges customers to stay safe during this heat wave. The company funds cooling centers throughout its service area to help customers escape the heat and cool off. To find a center near you click here or call 1-877-474-3266.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
Global Resources Used to Deliver Tailored Solution for Energy Transition
LAKE MARY, Fla.--(BUSINESS WIRE)--#ChangeInPower--Mitsubishi Power Americas, Inc. has shipped an M501JAC gas turbine to Marlim Azul Energia’s power plant in Macaé, Rio de Janeiro, which will become the most fuel-efficient power plant in South America when it begins operation in January 2023. The plant was the winning project at Brazil’s gas-based energy auctions and will be the first in Brazil to use associated gas from Brazil’s Pre-Salt basin.
The M50JAC is the world’s leading gas turbine with an efficiency greater than 64%, reliability of 99.6%, and the lowest carbon emissions per unit of power when used in combined cycle. The gas turbine’s exceptional operational flexibility will enable Marlim Azul to complement intermittent wind and solar power generation and to efficiently convert domestic pre-salt gas into electricity with attractive prices for consumers.
This gas turbine is capable of using up to 30% hydrogen fuel and can be upgraded to use 100% hydrogen fuel to meet the plant’s future decarbonization needs.
A Mitsubishi Power, Shell, and Patria Investments joint venture is investing BRL 2.5 billion (approximately USD 600 million) to construct the plant. Shell Brasil Petróleo Ltda. will supply natural gas from Brazil’s offshore deep-water pre-salt basin.
Bruno Chevalier, CEO of Marlim Azul Energia, said, “Our goal is to make energy generation from Brazilian pre-salt gas a reality. Mitsubishi Power’s tailored solution for a 565 megawatt plant will enable us to lead the energy transition in South America. The JAC gas turbine is a reliable investment that will enable further decarbonization in our region.”
In addition to the gas turbine, Mitsubishi Power’s solution includes TOMONI intelligent solutions to optimize power plant performance, flexibility, and reliability. It also includes a 25-year long-term service agreement providing all parts, repairs, and services as well as 24-hour support from the Service Engineering Team and remote monitoring services to help optimize performance by detecting anomalies and diagnosing plant performance.
Demonstrating the strength of its global supply chain operation, Mitsubishi Power shipped the M501JAC unit, which was designed in Japan and manufactured in the United States, on schedule to South America while keeping safety and quality at the forefront during a global pandemic. Mitsubishi Power’s 430,000 square foot Savannah Machinery Works in Georgia has maintained its 100% on-time delivery record throughout the pandemic. The Marlim Azul unit is the fourth JAC to ship from Savannah. Globally, Mitsubishi Power has booked 41 JAC gas turbine orders and Marlim Azul is the 12th JAC shipment.
Paul Browning, President and CEO of Mitsubishi Power Americas, said, “Our JAC power island for Marlim Azul aligns with our mission to provide power generation and storage solutions to our customers, empowering them to affordably and reliably combat climate change and advance human prosperity. The project will increase Brazil’s energy stability by using pre-salt natural gas. The gas turbine, like all our gas turbines, shipped hydrogen-ready for future deep decarbonization. We are committed to a long-term global effort to help our partners Shell and Patria achieve these ambitious goals. Together, we are creating a Change in Power.”
About Mitsubishi Power Americas, Inc.
Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,200 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power, Ltd. is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.
Communications Contact
Christa Reichhardt
+1 407-484-5599
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MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE American: NOG) (the “Company”) announced today that it has priced its previously announced underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $17.50 per share (the “Offering”). The Company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of its common stock. The Offering is expected to close on June 21, 2021, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from the Offering and, to the extent necessary, cash on hand and/or borrowings under its revolving credit facility to fund the cash purchase price of the Company’s recently announced pending acquisition of certain non-operated oil and gas properties and interests located in the Permian Basin (the “Permian Acquisition”). Pending the use of proceeds as described above, the Company may temporarily apply a portion of the net proceeds from the Offering to repay outstanding borrowings under its revolving credit facility. The consummation of the Offering is not conditioned upon the completion of the Permian Acquisition and the consummation of the Offering is not a condition to the completion of the Permian Acquisition. If the Permian Acquisition is not consummated, the Company intends to use the net proceeds of the Offering for general corporate purposes, which may include the repayment of outstanding indebtedness.
Wells Fargo Securities is acting as lead book-running manager for the Offering. The Offering will be made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”) on Form S-3. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement, once available, may be obtained on the SEC’s website at www.sec.gov or by contacting Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, at (800) 326-5897 or emailing a request to This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT NORTHERN OIL AND GAS
Northern Oil and Gas, Inc. is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts included in this press release, are forward-looking statements, including, but not limited to, statements regarding the expected closing date of the Offering and the anticipated use of the net proceeds therefrom. When used in this press release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future production and sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company’s control) that could cause actual results to differ materially from those set forth in the forward looking statements, including the following: the effects of the COVID-19 pandemic and related economic slowdowns; changes in crude oil and natural gas prices; the pace of drilling and completions activity on the Company’s properties and properties pending acquisition; infrastructure constraints and related factors affecting the Company’s properties; ongoing legal disputes over and potential shutdown of the Dakota Access Pipeline; the Company’s ability to acquire additional development opportunities; potential or pending acquisition transactions, including the Permian Acquisition; the Company’s ability to consummate the Permian Acquisition, the anticipated timing of such consummation, and any anticipated financing transactions in connection therewith; the projected capital efficiency savings and other operating efficiencies and synergies resulting from the Company’s acquisition transactions; integration and benefits of property acquisitions, including the Permian Acquisition, or the effects of such acquisitions on the Company’s cash position and levels of indebtedness; changes in the Company’s reserves estimates or the value thereof; disruptions to the Company’s business due to acquisitions and other significant transactions; general economic or industry conditions, nationally and/or in the communities in which the Company conducts business; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; the Company’s ability to raise or access capital; changes in accounting principles, policies or guidelines; and financial or political instability, health related epidemics, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting the Company’s operations, products and prices. Additional information concerning potential factors that could affect future financial results is included in the section entitled “Item 1A. Risk Factors” and other sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021, as updated from time to time in amendments and subsequent reports filed with the SEC, which describe factors that could cause the Company’s actual results to differ from those set forth in the forward-looking statements.
The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control. You are urged not to place undue reliance on these forward‑looking statements, which speak only as of the date they are made. Except as may be required by applicable law or regulation, the Company does not undertake, and specifically disclaims, any obligation to update any forward‑looking statements to reflect events or circumstances occurring after the date of such statements.
Mike Kelly, CFA
Chief Strategy Officer
952-476-9800
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BURLINGTON, Vt.--(BUSINESS WIRE)--iSun, Inc. (Nasdaq: ISUN) (“ISUN” or the “Company”), a purpose-driven, leading solar energy and clean mobility infrastructure company with 50-years of construction experience in solar, electrical and data services, announced today that it has been selected by competitive bid by two of the most important entities in the municipal EV fleet and off-grid charging networks. iSun will design and deploy several and grid-tied and off-grid solar powered electric-vehicle charging stations across America.
Jeffrey Peck, iSun’s Chief Executive Officer, commented, “We are very proud that the iSun ROAM off-grid solution and the iSun PALM grid-tied system have been selected through a competitive bid process by such an esteemed group of e-mobility infrastructure partners. We look forward to growing these new relationships and to supporting the transition from dirty energy to clean energy across America. These recent wins also demonstrate the accretive value of the iSun Energy LLC acquisition in January 2021. We believe the iSun systems are the most advanced and reliable solar EV charging solutions in the world, due to the system scalability and modular design, on- or off-grid capability, high-quality aircraft grade aluminum materials, and intelligent software. iSun wants to create the best experience with reliable charging solutions, so electric vehicle drivers can go anywhere and do anything in their EVs.”
iSun platform unique qualities include:
ABOUT iSun
Headquartered in Burlington, VT, iSun, Inc. (NASDAQ: ISUN) is a business rooted in values that align people, purpose, innovation, and sustainability. Ranked by Solar Power World as one of the leading commercial solar contractors in the United States, iSun provides solar energy and clean mobility infrastructure to customers for projects from smart solar mobile phone and electric vehicle charging to large utility renewable energy solutions. Since entering the renewable energy market in 2012, iSun has installed over 400 megawatts of rooftop, ground mount and EV carport solar systems (equal to power required for 76,000 homes). We continue to focus on profitable growth opportunities. For more information, visit www.isunenergy.com
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements about (i) iSun’s plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts; and (ii) other statements identified by words such as “expects” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “targets,” “projects,” or words of similar meaning generally intended to identify forward-looking statements. These forward-looking statements are based upon the current beliefs and expectations of the respective management of iSun and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the control of iSun. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements because of possible uncertainties.
IR:
Michael d’Amato
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GENEVA--(BUSINESS WIRE)--#SHIP--The new SIG SolarCAD II solar thermal power plant, designed and installed by the Geneva-based TVP Solar and inaugurated in February this year, has proven its high performance in winter conditions.
More than 157 MWh (1.92 kWh/m²/day) of solar hot water at over 80°C were delivered to the district heat network (CAD) between January and April, i.e. 30% of the annual energy performance target of 516 MWh set between the Services Industriels de Genève (SIG) and TVP Solar.
Michel Monnard, thermal director at SIG and project instigator, is delighted: “the solar plant’s performance significantly exceeded our expectations, being remarkably efficient during the cold and poor sunshine winter period when the CAD has the most need for heat.”
The TVP solar thermal plant reached the target temperature of 80°C for 96 days of the 102 days recorded, supplying solar hot water to the CAD network (see the graph below); the other days saw intense rain or snowfall. This wintertime performance is unheard of for a flat panel solar thermal installation!
The high-vacuum flat panels capture enough diffused light to melt snow deposited on the surface and quickly reach required operating temperatures. No maintenance or cleaning was carried out on the panels during the 4 months; rain naturally cleaned the surface sufficiently to continue reaching the solar thermal production objectives.
The SIG SolarCAD II results demonstrate the pertinence of TVP Solar's vacuum panel technology for any and all existing district heating networks operating at temperatures above 70°C and wintertime heat demands.
With the winter period now over, the TVP solar thermal plant is expected to deliver over the coming months. The longer hours of sunlight and overall better weather conditions can only further boost this already impressive performance.
Media contacts
TVP Solar SA
Florent Saunier, Sales Engineer
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Tel: +41-78-217-94-48
Effective at Market Open on June 28, 2021
CENTENNIAL, Colo.--(BUSINESS WIRE)--$WWR--Westwater Resources, Inc. (NYSE American: WWR) an energy materials company and developer of U.S. mineral resources essential for batteries for energy storage, today announced it is set to join the Russell Microcap® Index, effective at market open on June 28, 2021. The decision by Russell was first disclosed in a preliminary list of additions recently published.
Membership in the Russell Microcap® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its indexes primarily by objective, market capitalization rankings and style attributes.
“Joining the Russell Microcap® Index is an important milestone for Westwater as we receive recognition from one of the most prominent index providers followed by investment managers across our country,” said Christopher Jones, President and CEO of Westwater Resources. “We are hopeful this will expand the participation of institutional investors and benefit our shareholders with improved liquidity and visibility. We believe 2021 will be an important year for Westwater, as we seek to reach our strategic objectives and create additional value for our shareholders.”
About Westwater Resources
Westwater Resources (NYSE American: WWR) is focused on developing battery-grade graphite. The Company’s projects include the Coosa Graphite Project — the most advanced natural flake graphite project in the contiguous United States — and the associated Coosa Graphite Deposit located across 41,900 acres (~17,000 hectares) in east-central Alabama. For more information, visit www.westwaterresources.net.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
Cautionary Statement
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as "expects," "estimates," "projects," "anticipates," "believes," "could," “scheduled,” and other similar words. All statements addressing events or developments that WWR expects or anticipates will occur in the future, including but not limited to improved liquidity and visibility in the Company’s stock, participation of institutional investors, and reaching strategic objectives. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include, but are not limited to, (a) the Company’s ability to successfully construct and operate a processing plant capable of producing battery grade materials in quantities and on schedules consistent with the Coosa Graphite Project business plan; (b) the Company’s ability to raise additional capital in the future including the ability to utilize existing financing facilities; (c) spot price and long-term contract price of graphite and vanadium; (d) risks associated with our operations and the operations of our partners such as Dorfner Anzaplan and Samuel Engineering, including the impact of COVID-19; (e) operating conditions at the Company’s projects; (f) government and tribal regulation of the graphite industry and the vanadium industry; (g) world-wide graphite and vanadium supply and demand, including the supply and demand for energy storage batteries; (h) unanticipated geological, processing, regulatory and legal or other problems the Company may encounter in the jurisdictions where the Company operates or intends to operate, including but not limited to Alabama; (i) the ability of the Company to enter into and successfully close acquisitions or other material transactions,; (j) any graphite or vanadium discoveries not being in high-enough concentration to make it economic to extract the minerals; (k) currently pending or new litigation or arbitration; and (l) other factors which are more fully described in the Company’s Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this news release.
Westwater Resources
Christopher M. Jones, President & CEO
Phone: 303.531.0480
Jeff Vigil, VP Finance & CFO
Phone: 303.531.0481
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Product Sales Contact:
Jay Wago, Vice President – Sales and Marketing
Phone: 303.531.0472
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Investor Relations
Porter, LeVay & Rose
Michael Porter, President
Phone: 212.564.4700
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