Norris Cylinder Continues to Invest in its Texas and Alabama Manufacturing Locations
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--TriMas (NASDAQ: TRS) today announced its Norris Cylinder business is now officially a “Made in the USA” designated manufacturer. Even before achieving this status, Norris was the only remaining manufacturer of forged steel high-pressure cylinders and acetylene cylinders located in the United States.
“For more than 70 years, Norris Cylinder has provided a strong commitment to providing customer solutions with demonstrated quality and exceptional service to the compressed industrial gas industry,” said Thomas Amato, TriMas President and Chief Executive Officer. “We believe this important step to recognize our Made in the USA status is a win for our customers, employees and the communities where we operate. We are pleased to continue to support our stakeholders by further investing in Norris Cylinder manufacturing operations in the United States, which continues to advance local skills and technology development.”
Norris Cylinder is a manufacturer of compressed high- and low-pressure steel and acetylene cylinders used for the storage and transportation of compressed industrial gases. With state-of-the-art manufacturing locations in Longview, Texas, and Huntsville, Alabama, Norris Cylinder produces a complete line of small, intermediate and large seamless steel high-pressure cylinders and welded DOT and ISO acetylene cylinders for the industrial gas market, as well as stainless steel and nickel cylinders for specialty gas applications. While the cylinders are “Made in the USA”, Norris Cylinder’s approximately 300 dedicated employees service customers globally, with a strategic focus on quality, innovative product development and compliance with worldwide standards.
“As a Made in the USA manufacturer, we are able to assure our customers that all of their gas packaging and safety requirements are locally addressed,” said Chuck Manz, President of Norris Cylinder. “We manufacture in Texas and Alabama, and source virtually all of our materials or components from other U.S. manufacturers, thereby cascading our commitment to the U.S. workforce, and maintaining more control over lead times and quality.”
More information on Norris Cylinder and its product offering may be found at www.norriscylinder.com.
About TriMas
TriMas is a global manufacturer and provider of products for customers primarily in the consumer products, aerospace and industrial markets, with approximately 3,200 dedicated employees in 11 countries. We provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,” and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimascorp.com.
Sherry Lauderback
VP, Investor Relations & Communications
(248) 631-5506
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HOUSTON--(BUSINESS WIRE)--Permianville Royalty Trust (NYSE: PVL) (the “Trust”) today announced the net profits interest calculation for June 2021. The net profits interest calculation represents reported oil production for the month of March 2021 and reported natural gas production during February 2021. The calculation includes accrued costs incurred in April 2021.
This month, excluding prior net profits interest shortfalls, income from the distributable net profits interest would have been approximately $0.6 million. As a result of the cumulative outstanding net profits shortfall of approximately $0.5 million and prior administrative advances to the Trust of $0.7 million, however, no distribution will be paid to the Trust’s unitholders of record on June 30, 2021 in July 2021. Distributions to the Trust will resume once the administrative advances, which now total approximately $0.6 million, have been repaid to COERT Holdings 1 LLC (the “Sponsor”).
The following table displays reported underlying oil and natural gas sales volumes and average received wellhead prices attributable to the current and prior month recorded net profits interest calculations.
|
|
Underlying Sales Volumes |
|
Average Price |
||||||||
|
|
Oil |
|
Natural Gas |
|
Oil |
|
Natural Gas |
||||
|
|
Bbls |
|
Bbls/D |
|
Mcf |
|
Mcf/D |
|
(per Bbl) |
|
(per Mcf) |
Current Month |
|
36,475 |
|
1,177 |
|
308,677 |
|
11,024 |
|
$ 61.56 |
|
$ 2.32 |
Prior Month |
|
31,013 |
|
1,108 |
|
311,968 |
|
10,063 |
|
$ 56.98 |
|
$ 2.14 |
Recorded oil cash receipts from the oil and gas properties underlying the Trust (the “Underlying Properties”) totaled $2.2 million for the current month on realized wellhead prices of $61.56/Bbl, up $0.4 million from the prior month distribution period. The increase in sales volumes was primarily due to wells returning to production after having been temporarily shut-in due to winter storm Uri in February 2021.
Recorded natural gas cash receipts from the Underlying Properties remained consistent with the prior month at $0.7 million.
Total accrued operating expenses for the period were $2.0 million, a $0.1 million decrease month-over-month from the prior period. Capital expenditures remained consistent with the prior month at $0.2 million.
The remaining administrative advances for the prior months will be repaid with any net profits in next month’s net profits interest calculation. At this time based on current commodity prices, the Sponsor anticipates that the Underlying Properties will continue to generate positive net profits to enable the Trust to repay the cumulative administrative advances before returning to monthly distributions again.
About Permianville Royalty Trust
Permianville Royalty Trust is a Delaware statutory trust formed to own a net profits interest representing the right to receive 80% of the net profits from the sale of oil and natural gas production from certain, predominantly non-operated, oil and gas properties in the states of Texas, Louisiana and New Mexico. As described in the Trust’s filings with the Securities and Exchange Commission (the “SEC”), the amount of the periodic distributions is expected to fluctuate, depending on the proceeds received by the Trust as a result of actual production volumes, oil and gas prices, the amount and timing of capital expenditures, and the Trust’s administrative expenses, among other factors. Future distributions are expected to be made on a monthly basis. For additional information on the Trust, please visit www.permianvilleroyaltytrust.com.
Forward-Looking Statements and Cautionary Statements
This press release contains statements that are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release, other than statements of historical facts, are “forward-looking statements” for purposes of these provisions. These forward-looking statements include the amount and date of any anticipated distribution to unitholders, expected expenses, including capital expenditures, and expectations regarding the ability of the Underlying Properties to continue to generate positive net profits before returning to monthly distributions. The anticipated distribution is based, in large part, on the amount of cash received or expected to be received by the Trust from the Sponsor with respect to the relevant period. The amount of such cash received or expected to be received by the Trust (and its ability to pay distributions) has been and will continue to be directly affected by the volatility in commodity prices, which have experienced significant fluctuation since the beginning of 2020 in response to the economic effects of the COVID-19 pandemic and the actions taken by Russia and the members of the Organization of Petroleum Exporting Countries regarding production levels. Low oil and natural gas prices will reduce profits to which the Trust is entitled, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders. Other important factors that could cause actual results to differ materially include expenses of the Trust, reserves for anticipated future expenses and the effect, impact, potential duration or other implications of the COVID-19 pandemic. In addition, future monthly capital expenditures may exceed the average levels experienced in 2020 and prior periods. Statements made in this press release are qualified by the cautionary statements made in this press release. Neither the Sponsor nor the Trustee intends, and neither assumes any obligation, to update any of the statements included in this press release. An investment in units issued by the Trust is subject to the risks described in the Trust’s filings with the SEC, including the risks described in the Trust’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 23, 2021. The Trust’s quarterly and other filed reports are or will be available over the Internet at the SEC’s website at http://www.sec.gov.
Permianville Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Sarah Newell 1 (512) 236-6555
TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) today announced that it has declared a cash distribution of $0.05 per unit for the month of June 2021 payable on July 27, 2021 to unitholders of record at the close of business on June 30, 2021.
Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
Rohit Bhardwaj
Chief Financial Officer
Tel: (416) 496-4177
Ryan Paull
Business Development Manager
Tel: (973) 515-1831
HOUSTON--(BUSINESS WIRE)--Mesa Royalty Trust (the “Trust”) (NYSE: MTR) announced today the Trust income distribution for the month of June 2021. Unitholders of record on June 30, 2021 will receive distributions amounting to $0.017151226 per unit, payable on July 30, 2021. The Trust received $33,859, all of which came from the Colorado portion of the Trust’s San Juan Basin properties operated by SIMCOE LLC, an affiliate of IKAV Energy Inc. (“Operator”). No income was received in June 2021 from any other working interest owner.
The Trust was formed to own an overriding royalty interest of the net proceeds attributable to certain producing oil and gas properties located in the Hugoton field of Kansas and the San Juan Basin fields of New Mexico and Colorado. As described in the Trust's public filings, the amount of the monthly distributions is expected to fluctuate from month to month, depending on the proceeds, if any, received by the Trust as a result of production, oil and natural gas prices and the amount of the Trust’s administrative expenses, among other factors. On February 28, 2020, BP Amoco Company (“BP”) completed the sale of all of its interest in the San Juan Basin—Colorado properties to Operator. Following Operator’s acquisition of BP’s interest in the San Juan Basin—Colorado properties, there was a transition period to transfer historical information, knowledge and processes from one owner to the other. Operator has informed the Trustee that the amount paid to the Trust in the month of June 2021 is subject to further adjustment in future periods for certain expenses that Operator is entitled to deduct under the conveyance. Operator is expected to recover such expense amounts by withholding a portion or all of the net proceeds that would otherwise be payable to the Trust in future periods. Any reduction in income paid to the Trust for these properties may materially reduce or eliminate distributions to the Trust’s unitholders in future periods.
Proceeds reported by the working interest owners for any month are not generally representative of net proceeds that will be received by the Trust in future periods. As further described in the Trust’s Form 10-K and Form 10-Q filings, production and development costs for the royalty interest have resulted in substantial accumulated excess production costs, which will decrease Trust distributions, and in some periods may result in no Trust distributions. The amount of proceeds, if any, received or expected to be received by the Trust (and its ability to pay distributions to unitholders) has been and will continue to be directly affected, among other things, by volatility in the industry and revenues and expenses reported to the Trust by working interest owners. Any additional expenses and adjustments, among other things, will reduce proceeds to the Trust, which will reduce the amount of cash available for distribution to unitholders and in certain periods could result in no distributions to unitholders.
This press release contains forward-looking statements. No assurances can be given that the expectations contained in this press release will prove to be correct. The working interest owners alone control historical operating data, and handle receipt and payment of funds relating to the royalty properties and payments to the Trust for the related royalty. The Trustee cannot assure that errors or adjustments or expenses accrued by the working interest owners, whether historical or future, will not affect future royalty income and distributions by the Trust. Other important factors that could cause these statements to differ materially include delays in actual results of drilling operations, risks inherent in drilling and production of oil and gas properties, declines in commodity pricing, and other factors described in the Trust’s Form 10-K for the year ended December 31, 2020 under “Part I, Item 1A. Risk Factors.” Statements made in this press release are qualified by the cautionary statements made in such risk factors. The Trust does not intend, and assumes no obligations, to update any of the statements included in this press release. Each unitholder should consult its own tax advisor with respect to its particular circumstances.
Mesa Royalty Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina Rodgers
713-483-6020
http://mtr.q4web.com/home/default.aspx
ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group, Inc., (OTCQB: CRTG), developers of engineered silicon and 3D volumetric displays, has appointed Matthew Kappers as its Chief Executive Officer to lead the company through its next stage of growth. Mr. Kappers will also join CRTG’s board of directors.
Mr. Kappers has spent the last decade as a Partner and Managing Director of Concordia Financial Group, LLC, a merger & acquisition advisory firm. Prior to joining as CEO, Mr. Kappers was a consultant for The Coretec Group for the past two and half years. Mr. Kappers has extensive transactional and operational experience working with both startups and publicly traded companies.
“Matt brings a wealth of expertise. He has extensive experience working with the public markets and helping companies reach operational efficiency and executing strategic growth initiatives,” said Victor Keen, co-chairperson of the board. “We are fortunate to have Matt as CEO. He shares our passion and intimately understands our business.”
Mr. Kappers will be responsible for the next stage of growth for The Coretec Group. In March, the company closed on a $6.0 Million private placement offering. Mr. Kappers will further the use of the net proceeds to expand and accelerate the development of its CHS technology, as well as for working capital, general corporate purposes, and strategic investments.
“As The Coretec Group enters the next stage of innovation and growth, I am honored and excited to be part of such a talented team,” said Kappers. ”The opportunity ahead for the company is immense and we must move quickly and be nimble.”
Michael Kraft, whose expertise is in applied materials product development, has transitioned to President and is focusing on the commercialization of The Coretec Group’s CHS. He is also working with global customers and internationally recognized research institutions as they evaluate CHS. Mr. Kraft will also lead the company’s efforts in coordinating results and expanding the IP Portfolio of CHS.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
For more information, please visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and LinkedIn.
Forward-Looking Statements:
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
Corporate contact:
The Coretec Group, Inc.
Lindsay McCarthy
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+1 (866) 916-0833
Media contact:
The Coretec Group, Inc.
Allison L. Gabrys
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+1 (866) 916-0833
NEW YORK--(BUSINESS WIRE)--Zimmer Energy Transition Acquisition Corp. (Nasdaq:ZTAQU) (the “Company”), a blank check company led by Stuart J. Zimmer, today announced the closing of its initial public offering of 34,500,000 units at a price of $10.00 per unit, which includes the full exercise of the underwriters’ option to purchase an additional 4,500,000 units from the Company. Gross proceeds from the offering to the Company were $345,000,000. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable.
Zimmer Energy Transition Acquisition Corp. was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Although the Company’s efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to capitalize on the Zimmer Partners LP platform to identify, acquire and operate a business in industries that may provide opportunities for attractive risk-adjusted returns in the energy value chain in North America, with a focus on energy transition and sustainability.
Citigroup and Barclays acted as joint book-running managers for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146, or Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on June 15, 2021. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, 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.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement for the Company’s offering filed with the SEC and the preliminary prospectus included therein. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
For Investors:
Jon Wallace
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For Media:
Finsbury Glover Hering
David Helfenbein
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CHICAGO--(BUSINESS WIRE)--Exelon today announced the release of its 2020 Corporate Sustainability Report (CSR), which highlights Exelon’s efforts to address the climate crisis and build a cleaner, more resilient energy grid, invest in technology and innovation to improve service, and provide support and programs to customers and communities that will create a cleaner, brighter and more equitable future. The report is complemented by the release of Exelon’s second annual Environmental, Social and Governance (ESG) Report.
“Despite the challenges of 2020, our employees worked tirelessly to ensure our customers and communities had access to clean, affordable and reliable energy,” said Chris Crane, president and CEO, Exelon. “At the same time, we stayed focused on our low-carbon sustainability strategy and redoubled our work on social justice and racial equity, while maintaining our commitment to operational excellence, financial discipline and utility investment.”
The report outlines Exelon’s record as the nation’s largest producer of carbon-free electricity and a long-time advocate for state and federal energy policies to reduce emissions from the energy sector. The report also details the company’s commitment to serving customers and communities through innovative energy technologies, new investments that drive reliability and efficiency, and an ongoing focus on diversity, equity and inclusion.
The report also highlights that Exelon:
For more information about Exelon’s corporate sustainability and ESG efforts please visit Exelon’s Sustainability and Environmental, Social & Governance Resources webpages.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
Elizabeth Keating
Corporate Communications
312-394-4111
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BOGOTA, Colombia--(BUSINESS WIRE)--GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Ecuador, Chile, Brazil and Argentina, today issued the following statement in response to the letter sent to the Board by its former Chair Gerald O’Shaughnessy:
“Since GeoPark’s inception, we have always worked to ensure we have the skills, capabilities and necessary tools to become the leading independent E&P Company in Latin America. As we have grown and matured, we have worked deliberately to strengthen our governance profile and, today, our Board has a majority of independent directors and a newly appointed independent chair, consistent with best practices. We have added two new independent directors in the last 12 months and have nominated a third independent director for election at the upcoming Annual General Meeting. We have also instituted a new Board committee with two independent members to oversee strategic matters. Our Board’s continued evolution and diversification in recent years is an important and notable achievement, and one that we expect will help us build and deliver value to all shareholders.
It is unfortunate that, after 18 years of service as the Chair of GeoPark’s Board, Mr. O’Shaughnessy, 72, has chosen to leave the Board and disparage GeoPark with baseless claims. The Board and the management team are focused on the best interests of the Company and our shareholders. We maintain an open dialogue with our shareholders and are always open to opportunities that will create value for all shareholders.”
NOTICE
A copy of GeoPark’s proxy statement and related materials as furnished to the SEC is available at no charge on the SEC website at www.sec.gov. In addition, copies of the proxy statement and other documents may be obtained free of charge by accessing the Company’s website at www.geo-park.com or at www.envisionreports.com/GPRK/2021/1B327AP21E/default.htm?voting=true.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward- looking statements contained in this press release can be identified by the use of forward-looking words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘could,’’ ‘‘expect,’’ ‘‘should,’’ ‘‘plan,’’ ‘‘intend,’’ ‘‘will,’’ ‘‘estimate’’ and ‘‘potential,’’ among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters, including the composition of the Board of Directors, the Board’s evolution and diversification and GeoPark’s focus on value creation for shareholders. Forward-looking statements are based on management’s beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances, or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see filings with the U.S. Securities and Exchange Commission (SEC).
For further information, please contact:
INVESTORS:
Stacy Steimel This email address is being protected from spambots. You need JavaScript enabled to view it.
Shareholder Value Director
T: +562 2242 9600
Miguel Bello This email address is being protected from spambots. You need JavaScript enabled to view it.
Market Access Director
T: +562 2242 9600
Diego Gully This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Director
T: +5411 4312 9400
Innisfree M&A Incorporated
Scott Winter / Gabrielle Wolf
T: +1-212-750-5833
MEDIA:
Sard Verbinnen & Co.
Jared Levy / Kelsey Markovich
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ComEd urges customers to stay safe and report downed wires
CHICAGO--(BUSINESS WIRE)--ComEd crews have restored power to more than 45,000 customers throughout its service area after storms with high winds and tornado moved through the South suburbs, Southwest suburbs and Chicago on Sunday night into early Monday morning. The storm disrupted service to more than 61,000 customers. As of 9 a.m. Monday, June 21, approximately 16,000 customers remain without service, including customers in hard-hit Bolingbrook, Romeoville, Woodridge, Burr Ridge, Darien and Chicago.
ComEd crews are working around the clock to get remaining customers restored quickly and safely.
ComEd prioritizes attention on repairs that will bring back the greatest number of customers, and focuses on critical services, such as law enforcement, fire departments, hospitals and senior centers. Crews then move to restoration of individual outages.
ComEd offers the following tips and information for customers to stay safe following severe weather:
Customers are encouraged to contact ComEd immediately if they are experiencing a power outage or have a safety concern. Customers can sign up for Outage Alerts at ComEd.com/Alerts or text OUT to 26633 to report their outage and receive restoration information about when their power may be restored.
ComEd also offers a mobile app for iPhone® and Android™® smart phones that gives customers the ability to report power outages and manage their accounts. In addition, customers can report outages through ComEd’s Facebook and Twitter pages, or by calling 1-800 EDISON-1 (1-800-334-7661). Spanish-speaking customers should call 1-800-95-LUCES (1-800-955-8237).
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
NEW YORK--(BUSINESS WIRE)--Climate Change Crisis Real Impact I Acquisition Corporation (NYSE: CLII) (“CLII”) announced today that it intends to voluntarily transfer the listing of its shares of Class A common stock, $0.0001 par value per share (“Class A common stock”) and its warrants to The Nasdaq Global Select Market (“Nasdaq”) from the New York Stock Exchange (the “NYSE”) following the completion of its previously announced business combination (the “business combination”) with EVgo Services, LLC, (“EVgo”), which is expected to close on or around July 1, 2021, pending approval by stockholders of CLII at its special meeting for stockholders on June 29, 2021. In connection with the closing of the business combination, CLII will change its corporate name to “EVgo Inc.” CLII expects its Class A common stock and warrants to commence trading on Nasdaq the day after the closing of the business combination under the symbols “EVGO” and “EVGOW,” respectively. The Class A common stock and warrants will continue to trade on the NYSE until the transfer to Nasdaq is complete.
The decision to list on Nasdaq was made in connection with the business combination and enables the post-combination company to be listed alongside similar companies that are also listed on Nasdaq. At the closing of the business combination, CLII will also delist its units, Class A common stock and warrants from the NYSE. The Nasdaq listing of the Class A common stock and warrants and the NYSE delisting of the units are subject to the closing of the business combination and the fulfillment of all Nasdaq listing requirements.
About EVgo
EVgo is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 800 fast charging locations, EVgo’s charging network serves over 65 metropolitan areas across 34 states, owns and operates the most public fast charging locations in the US. and serves more than 250,000 customers. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet. EVgo’s parent company is LS Power, a New York-headquartered development, investment and operating company focused on leading edge solutions for the North American power and energy infrastructure sector. On January 22, 2021, EVgo announced that it entered into a definitive business combination agreement with CLII (NYSE: CLII). For more information visit evgo.com and lspower.com.
About LS Power
LS Power is a development, investment and operating company focused on the North American power and energy infrastructure sector. Since its inception in 1990, LS Power has developed, constructed, managed or acquired more than 45,000 MW of power generation, including utility-scale solar, wind, hydro, natural gas-fired and battery energy storage projects, and has developed more than 660 miles of high voltage electric transmission. Additionally, LS Power actively invests in businesses focused on renewable energy and renewable fuels, as well as distributed energy resource platforms, such as CPower Energy Management, Endurant Energy and EVgo. Across its efforts, LS Power has raised in excess of $47 billion in debt and equity capital to support North American infrastructure. For more information, please visit www.lspower.com.
About CLII
CLII is a special-purpose acquisition company (“SPAC”) formed to identify and acquire a scalable company making significant contributions to the fight against the climate crisis. CLII is co-sponsored by private funds affiliated with Pacific Investment Management Company LLC (“PIMCO”), which has more than $640 billion in sustainability investments across its portfolios. CLII is led by a seasoned operations and leadership team that has decades of experience at the intersection of climate change and capitalism, and includes veterans from NRG, Credit Suisse, General Electric and Green Mountain Power. For more information, please visit www.climaterealimpactsolutions.com/.
Important Information About the Business Combination and Where to Find It
In connection with the proposed business combination between EVgo and CLII and related transactions (the “Proposed Transactions”), CLII has filed its definitive proxy statement on Schedule 14A (the “Proxy Statement”) with the SEC, which was distributed to holders of CLII’s common stock in connection with CLII’s solicitation of proxies for the vote by CLII’s stockholders with respect to the Proposed Transactions and other matters as described in the Proxy Statement. Investors and security holders and other interested parties are urged to read the Proxy Statement, and any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLII, EVgo and the Proposed Transactions. Investors and security holders may obtain free copies of the Proxy Statement and other documents filed with the SEC by CLII through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: Climate Change Crisis Real Impact I Acquisition Corporation, 300 Carnegie Center, Suite 150, Princeton, New Jersey 08540. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
CLII and EVgo and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the Proposed Transactions. Information about the directors and executive officers of CLII and EVgo is set forth in the Proxy Statement. Stockholders, potential investors and other interested persons should read the Proxy Statement carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.
Forward Looking Statements
Certain statements in this press release that are not historical facts may constitute forward-looking statements are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. All statements, other than statements of present or historical fact included in this press release, regarding CLII’s proposed business combination with EVgo, CLII’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the respective management of CLII and EVgo and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on 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 CLII or EVgo. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in domestic and foreign business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the business combination, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the business combination or that the approval of the stockholders of CLII or EVgo is not obtained; failure to realize the anticipated benefits of business combination; risk relating to the uncertainty of the projected financial information with respect to EVgo; the amount of redemption requests made by CLII’s stockholders; the overall level of consumer demand for EVgo’s products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of EVgo’s customers; EVgo’s ability to implement its business strategy; changes in governmental regulation, EVgo’s exposure to litigation claims and other loss contingencies; disruptions and other impacts to EVgo’s business, as a result of the COVID-19 pandemic and government actions and restrictive measures implemented in response; stability of EVgo’s suppliers, as well as consumer demand for its products, in light of disease epidemics and health-related concerns such as the COVID-19 pandemic; the impact that global climate change trends may have on EVgo and its suppliers and customers; EVgo’s ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, CLII’s information systems; fluctuations in the price, availability and quality of electricity and other raw materials and contracted products as well as foreign currency fluctuations; changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect CLII’s or EVgo’s financial results is included from time to time in CLII’s public reports filed with the SEC, as well as the Proxy Statement that CLII has filed with the SEC in connection with CLII’s solicitation of proxies for the meeting of stockholders to be held to approve, among other things, the proposed business combination. If any of these risks materialize or CLII’s or EVgo’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 CLII nor EVgo presently know, or that CLII and EVgo 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 CLII’s and EVgo’s expectations, plans or forecasts of future events and views as of the date of this press release. CLII and EVgo anticipate that subsequent events and developments will cause their assessments to change. However, while CLII and EVgo may elect to update these forward-looking statements at some point in the future, CLII and EVgo specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing CLII’s or EVgo’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.
Non-Solicitation
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.
CLII
For Investors:
Daniel Gross
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646-883-3655
EVgo
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LS Power
Steven Arabia
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609-212-3857
DUBLIN--(BUSINESS WIRE)--The "Switzerland Forecourt (Fuel, Car Wash, Convenience and Foodservice) Market to 2024" report has been added to ResearchAndMarkets.com's offering.
Switzerland Forecourt (Fuel, Car Wash, Convenience and Foodservice) Market to 2024 provides an executive-level overview of the Swiss Forecourt market, with category wise fuel, car wash, convenience and foodservice values along with fuel and car wash volumes up to 2019 actual year and forecasted up to 2024.
It delivers quantitative and qualitative insight into the forecourt market, based on in depth interviews with major fuel operators across Europe and proprietary data from the publisher's service station retail databases.
Breakdown of the Major fuel retailers shop, car wash, foodservice sites. Company Fuel Volumes, Values and Market Shares; Convenience sales and Foodservice sales; Car Wash sales. Major competitor analysis by country.
In 2019, the market leader in terms of fuel volumes was COOP followed by Migrol and Shell.
Scope
Reasons to Buy
Key Topics Covered:
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/1u7hzk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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State’s Flex Alert Requests Voluntary Conservation from 6 to 9 p.m. Today
We All Can Help as a Few Simple Steps Can Reduce the Stress on the Grid
SAN FRANCISCO--(BUSINESS WIRE)--With continuing triple-digit heat forecast for today (Friday, June 18), the state’s grid operator has called for afternoon and evening energy conservation throughout California as one way to help the supply of power stay ahead of demand.
The California Independent System Operator (CAISO) has issued the Flex Alert for today from 6 p.m. to 9 p.m. The grid operator forecasts 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 to protect California’s grid. The National Weather Service has issued excessive heat warnings for many regions within PG&E’s service area.
Here are ways for customers to reduce energy use during the day:
And, during the critical hours of 6 p.m. to 9 p.m., customers are asked to:
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.
PG&E’s in-house meteorologists say the heat wave will linger across California’s interior today and Saturday, with decreasing temperatures Sunday into next week. Temperatures are still expected to top out at around 105 to 112 degrees across the Central Valley, with 90s for intermediate and inland Bay Area valleys.
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.
PG&E does not project a need for a Public Safety Power Shutoff due to this weather, but conditions will be continuously monitored.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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Nostromo’s IceBrick™is shovel-ready and poised to play an important role in the transition to clean energy
TEL AVIV, Israel--(BUSINESS WIRE)--#CO2--Nostromo (https://www.nostromo.energy), a pioneering cold-energy storage company, is commercializing the world’s most advanced energy storage technology based on modular ice cells for commercial and industrial buildings. The technology harnesses the power of renewables to meet the growing demand for cooling driven by Global Warming, while reducing stress on the grid. On June 21st, the company completed a merger with the Tel Aviv Stock Exchange (TASE) listed company Somoto, raising $13.6 million in the process.
Over the last few years, we’ve witnessed the rapid growth and deployment of lithium-ion-based energy storage systems. This has sparked growing concern about the serious environmental consequences and safety issues these batteries pose. Now more than ever, there’s a need to embrace and invest in safe, environmentally friendly, and efficient storage solutions that support the integration of renewable energy.
Air conditioning and cooling accounts for up to 40 percent of the total peak demand, according to a study conducted by the World Energy Agency (EIA). By 2050, the global demand for electricity designated for cooling is expected to triple.
The Solution
Nostromo developed the most advanced cold energy storage system in the world. The system is based on encapsulated ice cells (IceBrick™) that allow modular installation in commercial buildings and factories. The modular structure of the cells is economical in space and volume, which allows for swift installation on roofs, in basements, or along walls. The system "charges" cold energy during hours when electricity demand is low or there is a surplus of renewable energy, and "discharges" the energy during peak consumption hours, relieving the grid from the high air conditioning electricity demands.
Nostromo is an ideal solution for data centers, office buildings, hotels, shopping centers, hospitals, factories, and other facilities that carry large electricity demands for air conditioning and cooling. Other benefits from shifting electricity demand during peak hours for air conditioning include the buildings’ ability to meet other energy demands, such as charging electric vehicles, without further investment in infrastructure. In addition, several Nostromo systems can scale up to multi-MWh capacity, forming a virtual power plant.
Nostromo's proprietary technology has gained significant traction over the last two years. In April, Nostromo announced a 20-year agreement with the prestigious Hilton Beverly Hills hotel to install a 1.5 MWh system (serving both the Hilton and the adjacent Waldorf Astoria). Nostromo also signed an agreement with Sandstone Properties for the construction of an 900 kWh system in a Los Angeles office building and a memorandum of understanding with Westfield, one of the biggest owners and operators of large retail centers in the U.S, to install systems at its sites.
Nostromo also has R&D projects with strategic players, such as energy giant Royal Dutch Shell, the Israeli Electric Company and partnerships with leading U.S. engineering companies. In February, Mr. Mayo A. Shattuck III, the Chairman of American energy giant Exelon, announced a $500,000 personal investment in Nostromo. In July, Nostromo will be cutting the ribbon on it’s latest project, a 600 kWh system installed on the roof of advanced medical device manufacturer, Medinol. In addition to electricity cost savings, the system provides critical backup to Medinol’s clean rooms cooling system.
"To accelerate the transition to renewable energy, energy storage solutions are needed at an immense scale. Nostromo's energy storage technology offers an innovative, highly-efficient, clean, sustainable, scalable and safe alternative to lithium-based storage," says Yoram Ashery, CEO of Nostromo, "Our technology provides a solution to the energy requirements of air conditioning systems, which are the largest consumer on the grid."
“Nostromo's transition from a private to a public company is an important milestone that will allow us to accelerate our market penetration and pursue widespread implementation of our technology,” adds Yaron Ben Nun, Nostromo’s Founder, CTO and President, “We strongly believe that our solution will help in the fight against Global Warming, which is everyone’s concern, therefore inviting the public investors to take part in our journey seems like a natural evolution as a company.”
"Nostromo provides a solution to one of the most inconceivable problems of the 21st century,” says Ilana Shoshan, General Manager of the company's U.S. West Coast operations. “In California, for example, utilities are sometimes forced to initiate rolling black outs, impacting hundreds of thousands of homes and businesses during peak summer hours. Wide deployment of Nostromo systems in commercial and industrial buildings can help prevent the phenomenon.”
About Nostromo
Founded in 2017, Nostromo (a public technology company listed on the Tel Aviv Stock Exchange) offers a clean, safe, and highly efficient energy storage solution, the Nostromo IceBrick™, to store energy during off-peak or surplus solar hours and use it for cooling during peak hours, and can be deployed at scale. For more information, visit https://www.nostromo.energy
Media Contact
Lea Berdugo
ReBlonde for Nostromo
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PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (PARIS:TE) announced today that Arnaud Pieton, Chief Executive Officer, will address attendees on Tuesday, June 22, at 10:30 a.m. EDT at the following event:
J.P. Morgan Energy, Power & Renewables Conference
June 22 – 23, 2021
Location: Virtual Conference
The live webcast will be available at the time of the event and can be accessed on our Investor Relations website: https://investors.technipenergies.com/.
There will be no presentation materials associated with the event.
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information: www.technipenergies.com.
Investor relations
Phil Lindsay
Vice-President Investor Relations
Tel: +44 203 429 3929
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Media relations
Stella Fumey
Director Press Relations & Digital Communications
Tel: +33 1 85 67 40 95
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Jason Hyonne
Press Relations & Social Media Lead
Tel: +33 1 47 78 22 89
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GUANGZHOU, China--(BUSINESS WIRE)--XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission (the "SEC") on April 16, 2021. The annual report, which contains the Company’s audited consolidate statements, can be accessed on the SEC's website at http://www.sec.gov and on the Company’s investor relations website at http://ir.xiaopeng.com.
The Company will provide a hard copy of its annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to This email address is being protected from spambots. You need JavaScript enabled to view it. or Investor Relations Department at XPeng Inc., No. 8 Songgang Road, Changxing Street, Cencun, Tianhe District, Guangzhou, Guangdong 510640, People’s Republic of China.
About XPeng Inc.
XPeng Inc. is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley, and San Diego in the U.S. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.
For Investor Enquiries:
IR Department
XPeng Inc.
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Jenny Cai
The Piacente Group
Tel: +1-212-481-2050 or +86-10-6508-0677
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For Media Enquiries:
Marie Cheung
XPeng Inc.
Tel: +852-9750-5170 or +86-1550-7577-546
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DUBLIN--(BUSINESS WIRE)--The "Automatic Identification System - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Automatic Identification System Market to Reach $282.3 Million by 2027
Amid the COVID-19 crisis, the global market for Automatic Identification System estimated at US$200.9 Million in the year 2020, is projected to reach a revised size of US$282.3 Million by 2027, growing at a CAGR of 5% over the period 2020-2027.
The U.S. Market is Estimated at $59.2 Million, While China is Forecast to Grow at 4.7% CAGR
The Automatic Identification System market in the U.S. is estimated at US$59.2 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$49.9 Million by the year 2027 trailing a CAGR of 4.7% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 3.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 41 Featured):
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/cnvqr6
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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CARNEGIE, Pa.--(BUSINESS WIRE)--Rice Acquisition Corp. II (the “Company”) announced today the closing of its initial public offering (“IPO”) of 34,500,000 units, including 4,500,000 units sold pursuant to the full exercise of the underwriters’ over-allotment option, at a price of $10.00 per unit. Total gross proceeds from the offering were $345,000,000, before deducting underwriting discounts and commissions and other offering expenses. The units began trading on the New York Stock Exchange (the “NYSE”) under the ticker symbol “RONI U” on June 16, 2021. Each unit consists of one Class A ordinary share and one-fourth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “RONI” and “RONI WS,” respectively.
Citigroup and Barclays acted as joint book-running managers for the offering. AmeriVet Securities and Academy Securities acted as co-managers for the offering.
The offering has been made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-800-831-9146; and Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, email: This email address is being protected from spambots. You need JavaScript enabled to view it., telephone: 1-888-603-5847
A registration statement relating to these securities was filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”) on June 15, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 Rice Acquisition Corp. II
Rice Acquisition Corp. II is a newly organized blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Company’s efforts to identify a prospective target business will not be limited to a particular industry, although it intends to focus its search for a target business in the broadly defined energy transition or sustainability arena.
Forward Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the listing on the NYSE of the shares and warrants underlying the units. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s registration statement and prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
J. Kyle Derham
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REUTLINGEN, Germany--(BUSINESS WIRE)--iPoint-systems Gmbh, a leading global provider of product compliance and sustainability software, is pleased to announce the appointment of Peter Schmidt to the newly created position of Chief Revenue Officer within the Executive Leadership Team. The appointment reconfirms iPoint’s strong ambitions within the global market, supported by Danish private equity investor GRO Capital A/S, its majority shareholder since late 2020, and signals further steps along the company’s future growth path.
GRO Capital’s participation as shareholder, following iPoint’s 20-year owner-driven journey, has marked a new phase in the company’s development, with the clear objective to accelerate growth globally, through product innovation and enhanced sales and marketing efforts. Thanks to the partnership, iPoint benefits from GRO Capital's profound experience in developing and growing innovative technology companies.
The appointment of Peter Schmidt, a proven leader with a strong track record in delivering international customer success, to the new role of Chief Revenue Officer represents a further step along iPoint’s strategic path. Peter Schmidt enjoys an outstanding reputation within the industry and brings to iPoint a wealth of experience in building high-performance teams to deliver rapid growth on an international scale. While working as CCO at Transporeon Group from 2015 to 2019, Peter Schmidt oversaw multifold revenue growth and helped the company to become the leading cloud-based transport management platform. Prior to that, he served as General Manager and VP Enterprise Sales at Adobe and as Senior Vice President for the worldwide emerging geographies at PTC. Before joining iPoint on May 1, 2021, he was responsible for global sales and field operations at In Mind Cloud.
“I am very excited to welcome Peter Schmidt to the iPoint family”, said Joerg Walden, CEO and Founder of iPoint. “Peter is an accomplished leader with an impressive track record of scaling business in the software industry on an international level. His vast experience, skills, and expertise will support us in achieving our ambitious goals, and I’m thrilled to have him on board as we embark on the next step of our growth journey to transform iPoint’s vision of building an integrated digital platform for the Circular Economy into a long-term success story.“
“iPoint has a great digital product and a strong customer base, and is now entering into an exciting phase. I have been hugely impressed by the company’s successful journey so far and its growth ambitions for the future, driven by the increasing importance of sustainability and product regulations, as well as the rising complexity of global supply chains. I very much look forward to helping iPoint scale up its international sales efforts,” said Peter Schmidt, Chief Revenue Officer of iPoint.
iPoint is a leading provider of software and services in the field of product compliance and sustainability with headquarters in Reutlingen, Germany. The company was founded in 2001, currently has around 170 employees and maintains a total of 14 offices in Europe, North America, and Asia. iPoint uses state-of-the-art software solutions to help companies analyze and evaluate the environmental, social, and economic impact of products and production processes in order to meet compliance requirements and sustainability goals, for example in the form of carbon footprint analyses. The company's customers include a wide range of well-known corporations, including Bosch, Ford, Fresenius, Hyundai, Miele, MTU Aero Engines, Panasonic, Roche, thyssenkrupp, and Toyota.
The company continues to explore new areas of business in cooperation with start-ups. The CarbonBlock solution, piloted by start-up and iPoint Group company CircularTree, together with Porsche, BASF and automotive supplier Motherson, enables companies to track CO2 emissions related to individual materials and parts across the entire supply chain, based on Blockchain technology.
About iPoint-systems gmbh
iPoint is a leading provider of software and services for environmental and social product compliance, process compliance, and sustainability. iPoint’s solutions support companies in meeting and staying one step ahead of regulations and requirements such as REACH, RoHS, WEEE, ELV, Conflict Minerals- and Modern Slavery-related laws, as well as other trending developments in the compliance and sustainability arena. Since its founding in 2001, iPoint has been constantly expanding its portfolio to realize its vision of building an integrated digital platform for the Circular Economy. Further information: https://www.ipoint-systems.com/
About GRO Capital
GRO Capital is a leading North European private equity fund with an exclusive focus on mature B2B software and tech enabled companies with strong growth prospects. GRO Capital serves as active owners developing portfolio companies with a view to create long-term value. The partners behind GRO Capital have been investors in more than 20 technology and software related companies. iPoint is the fourth investment in GRO Fund II, a fund with a strategy to accelerate Northern European software companies. For further information about GRO Capital please visit: www.grocapital.dk
IWK Communication Partner
Florian Bergmann / James Gibbs
Tel.: +49 (0) 89 2000 30-30
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Consortium comprised of a cross-section of renowned investors from North America, Asia and the Middle East
WASHINGTON--(BUSINESS WIRE)--EIG, a leading institutional investor to the global energy sector and one of the world’s leading infrastructure investors, today announced the closing of its previously announced transaction with Saudi Arabian Oil Co. (“Aramco”), under which a consortium of investors acquired a 49% equity stake in Aramco Oil Pipelines Company (“Aramco Oil Pipelines”), a newly formed entity with rights to 25 years of tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network.
The EIG-led co-investment process in Aramco Oil Pipelines attracted a global group of leading institutional investors from China, the Kingdom of Saudi Arabia, Korea, the United Arab Emirates and the United States including, amongst others, Mubadala Investment Company, an Abu Dhabi Sovereign Investor, Silk Road Fund, Hassana and Samsung Asset Management.
R. Blair Thomas, EIG Chairman and CEO, said: “We are pleased to have completed this transaction with Aramco, a preeminent global energy supplier. The caliber of this marquee global infrastructure asset is further evidenced by the leading investors that have invested alongside EIG. We are honored to be working with this world-class consortium and look forward to a long-term, fruitful partnership.”
HSBC Bank plc acted as financial advisor to EIG in connection with the transaction, and Latham & Watkins served as EIG’s legal advisor.
About EIG
EIG is a leading institutional investor to the global energy sector with $21.7 billion under management as of March 31, 2021. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 39-year history, EIG has committed over $37 billion to the energy sector through more than 370 projects or companies in 37 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C., with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
About Aramco
Aramco is a global integrated energy and chemicals company driven by its core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, Aramco’s global team is dedicated to creating impact in all that it does. The Company focuses on making its resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com.
EIG
Sard Verbinnen & Co.
Kelly Kimberly / Brandon Messina
+1 212-687-8080
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Aramco
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HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NYSE: BKR) will hold a webcast on Wednesday, July 21, 2021 to discuss the results for the second quarter ending June 30, 2021. The webcast is scheduled to begin at 8:30 a.m. Eastern Time (7:30 a.m. Central Time). A press release announcing the results will be issued at 7:00 a.m. Eastern Time (6:00 a.m. Central Time).
To access the webcast, listeners should visit the Baker Hughes website at: investors.bakerhughes.com. An archived version will be available on the website following the webcast.
About Baker Hughes:
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
Investor Relations
Jud Bailey
+1 281-809-9088
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Media Relations
Thomas Millas
+1 713-879-2862
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