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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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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The Logility® Digital Supply Chain Platform Now Available on Azure Marketplace
ATLANTA--(BUSINESS WIRE)--#SupplyChain--Logility, Inc., a leader in supply chain innovation powering the sustainable and resilient enterprise, is partnering with Microsoft and making its comprehensive suite of solutions available through Microsoft Azure. Now, Azure customers can gain access to the Logility® Digital Supply Chain Platform, which allows these organizations to leverage new opportunities, respond to changing market dynamics and more profitably manage their complex global businesses.
As real-time supply chain visibility and data accuracy are paramount, having a cloud partner like Microsoft Azure will accelerate Logility customers’ ability to scale quickly and respond to changes globally.
Further, working with Microsoft strengthens Logility’s ability to provide a high performing, secure and reliable environment for customers to access its extensive supply chain knowledge and experience. This, combined with Microsoft’s advanced knowledge of offering specialized training and direct consulting services, enhances the customer experience.
“This collaboration combines our supply chain knowledge and experience with the industry leading services and tools from Microsoft,” said Allan Dow, president, Logility. “The end result is ongoing customized support solutions and increased effectiveness for our customers.”
Nicolas Caudron, global alliance director for retail and consumer goods, Microsoft added, “This collaboration with Logility brings additional supply chain solutions to current and future Microsoft Azure Marketplace users. Our trusted partners benefit from great exposure to global cloud customers who get tested solutions that work seamlessly with Azure.”
About Logility
Accelerating the digital sustainable supply chain, Logility helps companies seize new opportunities, sense and respond to changing market dynamics and more profitably manage their complex global businesses. The Logility® Digital Supply Chain Platform leverages an innovative blend of artificial intelligence (AI) and advanced analytics to automate planning, accelerate cycle times, increase precision, improve operating performance, break down business silos and deliver greater visibility. Logility’s SaaS-based platform transforms sales and operations planning (S&OP) and integrated business planning (IBP) processes; demand, inventory and replenishment planning; global sourcing; quality and compliance management; product life cycle management; supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning, assortment and allocation. Logility customers include Big Lots, Husqvarna Group, Parker Hannifin, Sonoco Products and Red Wing Shoe Company. Logility is a wholly owned subsidiary of American Software, Inc. (NASDAQ: AMSWA). To learn how Logility can help you make smarter decisions faster, visit www.logility.com.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results or performance to differ materially from what is anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty and the timing and degree of business recovery; the irregular pattern of the Company’s revenues; dependence on particular market segments or customers; competitive pressures; market acceptance of the Company’s products and services; technological complexity; undetected software errors; potential product liability or warranty claims; risks associated with new product development; the challenges and risks associated with integration of acquired product lines, companies and services; uncertainty about the viability and effectiveness of strategic alliances; American Software, Inc.’s ability to satisfy in a timely manner all Securities and Exchange Commission (SEC) required filings and the requirements of Section 404 of the Sarbanes-Oxley Act of 2002 and the rules and regulations adopted under that Section; as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc.’s current Form 10-K and other reports and documents subsequently filed with the SEC. For more information, contact: Kevin Liu, American Software, Inc., (626) 657-0013 or email This email address is being protected from spambots. You need JavaScript enabled to view it..
Logility® is a registered trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
Valerie Miller
Media Relations Manager at Logility
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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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MIDDLETOWN, R.I.--(BUSINESS WIRE)--KVH Industries, Inc. (Nasdaq: KVHI), today announced the preliminary vote results of the Company's 2021 annual meeting of shareholders, as provided by its proxy solicitor. Based on these preliminary results, both of the Company’s nominees, Cielo Hernandez and Cathy-Ann Martine-Dolecki, have been elected to the KVH Board of Directors by a significant margin.
KVH issued the following statement:
We want to thank our shareholders for their engagement and support throughout the annual meeting election process. The election of Cielo Hernandez and Cathy-Ann Martine-Dolecki to the Company’s Board represents a recognition of the positive momentum in our business and the fact that our long-term strategy is working. However, we also know that we have more work to do as we focus on executing against our plan and increasing value for shareholders. We look forward to welcoming Ms. Hernandez and Ms. Martine to our Board and are confident their insights and industry experience will help the Company significantly moving forward.
The results announced today are considered preliminary until final results are tabulated and certified by the independent Inspector of Elections. Final results will be reported on a Form 8-K that will be filed with the U.S. Securities and Exchange Commission, at which time they will become available on www.kvh.com and www.sec.gov.
About KVH Industries, Inc.
KVH Industries, Inc., (Nasdaq: KVHI), is a global leader in mobile connectivity and inertial navigation systems, innovating to enable a mobile world. The market leader in maritime VSAT, KVH designs, manufactures, and provides connectivity and content services globally. KVH is also a premier manufacturer of high-performance sensors and integrated inertial systems for defense and commercial applications. Founded in 1982, the Company is based in Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and Tinley Park, IL, and more than a dozen offices around the globe.
KVH is a registered trademark of KVH Industries, Inc.
Additional Information and Where to Find It
The Company has filed a definitive proxy statement and a form of associated BLUE proxy card with the U.S. Securities and Exchange Commission (the “SEC”) in connection with the solicitation of proxies for the Company’s 2021 Annual Meeting of Stockholders (the “Definitive Proxy Statement”). THE COMPANY’S STOCKHOLDERS ARE STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING BLUE PROXY CARD AND OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The Company’s stockholders may obtain the Definitive Proxy Statement, any amendments or supplements to the Definitive Proxy Statement and other documents filed by the Company with the SEC free of charge at the SEC’s website at www.sec.gov. Copies are also available free of charge at the Company’s website at www.kvh.com.
Certain Information Regarding Participants
The Company, its directors and certain of its executive officers are participants in the solicitation of proxies from the Company’s stockholders in connection with the matters to be considered at the Company’s 2021 Annual Meeting of Stockholders. Information about the Company’s directors and executive officers is available in the Definitive Proxy Statement filed with the SEC on May 17, 2021 and, with respect to directors and executive officers appointed following such date, will be available in certain of the Company’s other SEC filings made subsequent to the date of the Definitive Proxy Statement. To the extent holdings of the Company’s securities by such directors or executive officers have changed since the amounts printed in the Definitive Proxy Statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC.
Forward-Looking Statements
Certain statements in this communication constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” “will,” “should,” “would,” “may” and “could” or similar words or expressions are generally forward-looking in nature and not historical facts. Any statements that refer to outlook, expectations or other characterizations of future events, circumstances or results are also forward-looking statements. Important risks, assumptions and other important factors that could cause future results to differ materially from those expressed in the forward-looking statements are specified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its Quarterly Reports on Form 10-Q for any subsequent periods under headings such as “Cautionary Statement Regarding Forward-Looking Information,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and in other filings and furnishings made by the Company with the SEC from time to time. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.
Media Contact:
Sloane & Company
Dan Zacchei / Joe Germani
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Investor Contact:
D.F. King & Co., Inc.
Edward McCarthy
(212) 269-5550
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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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ORLANDO, Fla.--(BUSINESS WIRE)--Siemens Energy announced today that Siemens Energy will provide two SGT6-5000F turbines to power Omaha Public Power District’s (OPPD) new Turtle Creek Station Peaking Plant in Papillion, Nebraska. The simple cycle turbine facility will be used to modernize back up generation in OPPD’s fleet, which means that the plant will run only as needed to provide a resilient and reliable source of electricity for the community. The turbines offer the ability to run on up to 30% hydrogen and biodiesel in support of future technology advancements. They also offer a fast start time and low emissions while helping to rapidly stabilize transmissions system to adjust for the variable output of solar generation.
Siemens Energy gas-fired combustion turbines can help to decarbonize operations gradually and flexibly by allowing hydrogen produced with no CO2 emissions to be blended into the fuel mix to meet the environmental and regulatory needs of the market. Ultimately, these hydrogen-capable gas turbines can pave the way to a more sustainable energy future because they can meet a rapidly growing electricity demand in the short term and in the mid-term can provide back-up power to complement the intermittency of renewable energy. Siemens Energy has set an ambitious target to have all its new gas turbines (the SGT6-5000F included) capable of burning 100% hydrogen on or before the end of 2030.
“We are proud OPPD selected our F-Class Turbines to complement their utility-scale renewable energy generation projects,” said Rich Voorberg, president for Siemens Energy North America. “As we look to decarbonize energy systems for the future, it is important to be able to increasingly integrate clean burning fuels like hydrogen into our power plants as well, and the Turtle Creek Station is a great example of how we can provide great value to the community by offering reliable and efficient power with a reduced environmental footprint.”
The Turtle Creek Station is part of OPPD’s Power with Purpose project that aims to provide affordable, reliable, and environmentally sensitive energy services to customers. This involves developing up to 600 megawatts of solar generation and up to 600 megawatts of modernized replacement and backup natural gas generation resources.
The Turtle Creek Station is expected to be operational in late Spring of 2023.
This press release and a press picture / press pictures / further material is available at www.siemens-energy.com/press.
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
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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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Ambyint artificial lift optimization product listings now available in AWS Marketplace
HOUSTON--(BUSINESS WIRE)--#artificialintelligence--Ambyint, well lifecycle production and artificial lift optimization solutions provider, today announced an agreement with Amazon Web Services, Inc. (AWS) to make its products available in AWS Marketplace, providing oil & gas exploration and production (E&P) companies with solutions that drive higher production volumes and lower expenses on producing wells.
Ambyint solutions are designed to optimize oil & gas wells by automating anomaly detection, controller setpoint recommendations, setpoint changes, and production versus plan analytics to enable real-time production optimization. The company employs advanced physics-based models, deep subject matter expertise, and artificial intelligence to deliver highly scalable and proven applications. Ambyint solutions improve production volumes and workforce efficiencies while reducing operating expenses, emissions, and failure rates for mid- to large-sized operators across major North American basins.
Ambyint’s production optimization solutions leverage AWS’s enterprise-class cloud environment to integrate easily with existing E&P systems, such as SCADA and production accounting, providing real-time ingestion, standardization, normalization, and contextualization of oil & gas operations data. Ambyint utilizes a variety of AWS services including Amazon Elastic Kubernetes Service (Amazon EKS), Amazon Simple Storage Service (Amazon S3), Amazon Virtual Private Cloud (Amazon VPC), Elastic Load Balancing (ELB), and Timestream for horizontal and vertical scalability. Production optimization at scale is a critical requirement for E&P companies focused on deriving the substantial benefits that digital transformation and operational excellence initiatives offer.
“At Ambyint, our singular focus is on driving significant production gains and cost reduction through production and artificial lift optimization,” says Chris Robart, chief commercial officer at Ambyint. “Working with AWS, an industry leader delivering exceptional performance, scalability, and availability within the O&G industry, allows us to deploy our solutions seamlessly and deliver on the promise of our technology.”
For more information, please visit our product listings for Ambyint InfinityRLTM, InfinityPLTM, and SmartStreamTM in AWS Marketplace. Additionally, Ambyint will showcase its products and their impact on production optimization in a joint webinar with AWS on June 23, 2021 at 11:00 a.m. CST. You can join us by registering here.
About Ambyint
Ambyint delivers well lifecycle production optimization for the oil & gas industry, driving step-change improvements to E&P production outcomes and margin. Ambyint combines advanced physics and subject matter expertise with artificial intelligence to automate operations and production optimization workflows across all well types and artificial lift systems. www.ambyint.com.
Ginger Shelfer, senior marketing manager
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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
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Cory Ziskind
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BOSTON--(BUSINESS WIRE)--#EcoStruxure--Schneider Electric, the leader in digital transformation of energy management and automation, today released a research report to foster an understanding of how digitized and smart applications will be powered in the future. The report titled Digital Economy and Climate Impact predicts IT-sector related electricity demand is expected to increase by nearly 50% by 2030. Yet, as the electricity system decarbonizes, emissions would not increase by more than 26% by that time. To help mitigate this rise in emissions, the Schneider Electric TM Sustainability Research Institute recommends continued efforts in achieving efficiencies on the IT and energy sides at both the component and system levels. Released at an exclusive media event presented virtually from Schneider Electric’s Boston Hub, the report highlights how the rise of edge computing requires a specific focus as these systems are expected to be less efficient than hyperscale data centers from a PUE standpoint.
“When the world locked down it also logged on and internet traffic soared,” said Pankaj Sharma, EVP, Secure Power, Schneider Electric. “It’s misleading to assume that digital activity will inevitably result in a deeply problematic increase in CO2 emissions. The analysis from the Schneider Electric Sustainability Institute puts to rest many of the worst-case scenario claims predicting IT-related electricity use will double every five years. That said, as an industry we must remain vigilant in finding new sources of sustainability gains while ensuring resiliency as digital keeps life moving forward.”
In addition to releasing the research report, Schneider Electric also announced updates to its EcoStruxure™ IT data center infrastructure management software, Galaxy™ VL 3-phase uninterruptable power supply (UPS) and introduced an industry-leading single-phase UPS, the APC™ Smart-UPS™ Ultra. All introductions are designed to advance the industry forward in meeting sustainability goals while increasing resiliency of IT and data center infrastructure.
EcoStruxure IT software updates reduce complexity in managing hybrid data center and edge IT environments
Increasing demands on digital consumption, which are explored in the new research report, create a more complex hybrid environment inclusive of enterprise, cloud and edge data centers. To address the unique management challenges of a hybrid IT environment, Schneider Electric has announced updates to its EcoStruxure IT software to increase efficiency and resiliency, including:
Redesigned Galaxy Lithium-ion battery solution enables greater space savings, faster recharge and installation and enhanced safety
The newly released Galaxy VL, the most compact of its class, modular and scalable 3-phase UPS in the 200 - 500 kW range with efficiency levels up to 99 per cent1 , now features redesigned Galaxy Lithium-ion battery cabinets, providing a sustainable, high-density and innovative energy storage solution for data centers, industrial processes, and critical infrastructure. The exclusive cabinets are compatible across the full Galaxy V Series.
A Green PremiumTM offer, this UL9540A-compliant battery solution reduces battery footprint and weight by up to 70 per cent2, allowing more effective use of space. The new cabinets enable two to three times faster recharge than VRLA solutions as well as faster installation and enhanced system availability with patented redundant self-powered internal power supplies.
Lithium-ion batteries reduce total cost of ownership by doubling battery life, lowering installation and maintenance costs, plus reducing cooling needs, as they operate at higher temperatures than VRLA. The included real-time battery management system improves battery system visibility, predictability, and manageability. The modular, touch-safe design simplifies maintenance and increases operator safety.
APC Smart-UPS Ultra is the Smallest, Lightest, Single-phase 3kW UPS on the Market
In a separate announcement released at the media event, Schneider Electric also introduced the new APC Smart-UPS Ultra 3kW single-phase UPS. Designed to deliver more power, flexibility, and intelligent monitoring in a smaller footprint, the APC Smart-UPS Ultra enables IT professionals and solution providers to address many of the challenges with deploying IT infrastructure in distributed environments and at the edge. With flexible mounting options including rack, tower or wall/ceiling mounts, the Smart-UPS Ultra can be placed out of the way to allow for more space for IT in the rack. It features long-lasting Lithium-ion batteries to save time and money on maintenance and it’s EcoStruxure™ Ready, providing cloud-based monitoring to optimize performance, deliver data-driven recommendations, and enable visibility anywhere, anytime.
“Schneider Electric has been focused on sustainability for the past 15 years and was recently named the most sustainable corporation in the world. We have embraced the mindset that future innovation will deliver better efficiency across the broader connectivity landscape,” continued Sharma. “By making smart intentional choices, our industry can help mitigate how much electricity and emissions result from the rising appetite for digital technologies.”
About EcoStruxure
EcoStruxure™ is our open, interoperable, IoT-enabled system architecture and platform. EcoStruxure delivers enhanced value around safety, reliability, efficiency, sustainability, and connectivity for our customers. EcoStruxure leverages advancements in IoT, mobility, sensing, cloud, analytics, and cybersecurity to deliver Innovation at Every Level. This includes Connected Products, Edge Control, and Apps, Analytics & Services which are supported by Customer Lifecycle Software. EcoStruxure™ has been deployed in almost 500,000 sites with the support of 20,000+ developers, 650,000 service providers and partners, 3,000 utilities and connects over 2 million assets under management.
From energy and sustainability consulting to optimizing the life cycle of your operational systems, we have world-wide services to meet your business needs. As a customer-centric organization, Schneider Electric is your trusted advisor to help increase asset reliability, improve total cost of ownership and drive your enterprise’s digital transformation towards sustainability, efficiency and safety.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover more:
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_____________________________
1 Galaxy VL delivers up to 99 per cent efficiency in ECOnversion mode
2 When compared to traditional lead-acid (VRLA) batteries.
Schneider Electric
Thomas Eck
Phone: 917-797-4974
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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
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BOSTON--(BUSINESS WIRE)--#CertaintyInAConnectedWorld--Schneider Electric, the leader in digital transformation of energy management and automation, today introduced APC™ Smart-UPS™ Ultra, the industry’s first 3kW 1U single-phase Uninterruptable Power Supply (UPS). Designed to deliver more power, flexibility, and intelligent monitoring in the smallest footprint, the APC Smart-UPS Ultra enables IT professionals and solution providers to address many of the challenges with deploying IT infrastructure in distributed edge computing environments and at the edge.
The global edge computing market is facing massive growth, growing at 12.5% annually to an estimated $250.6 billion in 2024, according to IDC. The proliferation of digital technologies and smart applications is driving the need for compute, network, and storage resources that are localized and in close proximity to enable business critical processes and experiences that rely on network connectivity to the cloud. Yet, configuring, deploying, and maintaining the supporting IT infrastructure for multiple, geographically dispersed sites comes with unique challenges.
With the APC Smart-UPS Ultra, Schneider Electric is bringing to market its smallest, most advanced single-phase UPS that provides the flexibility to install anywhere and save on total cost of ownership (TCO) without compromising businesses’ power protection needs.
“To meet the digital demands of the future, local, regional and cloud data centers must be designed to be sustainable, resilient, efficient and adaptable. Schneider Electric continues to innovate and respond to customer needs with the introduction of the APC Smart-UPS Ultra,” said Tarunjeet Sarao, Senior Vice President, Transactional & Edge Line of Business at Schneider Electric. “The first of its kind, APC Smart-UPS Ultra is redefining the single-phase UPS, making it lighter and more powerful with the next generation semiconductor technology. In addition, it uses lithium-ion technology to power distributed IT and edge computing sites to ensure our digital life is on.”
APC Smart-UPS delivers more power in less space
In distributed IT and edge environments there are often significant physical space considerations, with a premium placed on maximizing square footage and operating the space efficiently to optimize IT systems and improve the bottom line.
The APC Smart-UPS Ultra’s compact design delivers more power while taking up less IT space, providing the installation flexibility and power density you need for today and into the future. The UPS’s compact design is up to 50% smaller and lighter than comparable UPS solutions on the market today. The APC Smart-UPS Ultra offers flexible mounting options including rack, tower or wall/ceiling mounts, so it can be placed out of the way to allow for more space for IT in the rack.
Lithium-ion battery offers lower TCO over 10 years, reducing site visits
Effective power management is critical for any IT environment, but regular and effective maintenance of power protection equipment such as UPSs, especially across multiple distributed sites, can require costly ongoing OpEx investment.
The APC Smart-UPS Ultra’s Lithium-ion battery lasts up to three times longer than a traditional valve regulated lead acid (VRLA) powered UPS and will not need to be replaced under normal operating conditions. This helps to eliminate costly battery replacement, labor and service fees and visits over the life of the UPS. The APC Smart-UPS Ultra saves up to 15% on TCO over 10 years and comes with a 5-year warranty.
EcoStruxure Ready APC Smart-UPS Ultra ensures better visibility anytime, anywhere
Being understaffed or lacking onsite staff makes management, maintenance and service activities such as inspecting equipment, replacing batteries, swapping out failed equipment very burdensome, particularly if assets are highly distributed and geographically dispersed. APC Smart-UPS Ultra is EcoStruxure™ Ready which allows cloud-based monitoring, delivers data-driven recommendations to optimize performance, and enables wherever-you-go visibility across multiple UPS devices. Connectivity is available via Ethernet Port or embedded network port, and the EcoStruxure Ready APC Smart-UPS web portal provides automated, customizable alerts regarding the health of the UPS to make preventative maintenance simpler in order to reduce downtime and lower mean time to repair.
The APC Smart-UPS Ultra is available in North America starting in September 2021 and availability for additional global markets will be announced later in the year. To learn more about the APC Smart-UPS Ultra, visit this web page.
About EcoStruxure
EcoStruxure is Schneider Electric’s open, interoperable, IoT-enabled system architecture and platform. It delivers enhanced value around safety, reliability, efficiency, sustainability, and connectivity for customers. EcoStruxure leverages advancements in IoT, mobility, sensing, cloud, analytics, and cybersecurity to deliver innovation at every level. This includes connected products, edge computing control and apps, analytics, and services. EcoStruxure has been deployed in more than 480,000 sites, with the support of more than 20,000 system integrators and developers, connecting over 1.6 million assets under management through over 40 digital services.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive, and Empowered values.
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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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DEARBORN, Mich.--(BUSINESS WIRE)--Ford today announced it is acquiring Electriphi, a California-based provider of charging management and fleet monitoring software for electric vehicles. Electriphi’s team and services will be integrated into Ford Pro – a new global business within Ford committed to commercial customer productivity and to developing the most advanced charging and energy management experiences.
While more commercial vehicle customers are considering all-electric vehicles, charging management remains a hurdle to mass adoption. Ford Pro plans on leveraging its leadership position in the commercial vehicle market, its vehicle offerings and Electriphi’s technology to help customers with this transition.
“As commercial customers add electric vehicles to their fleets, they want depot charging options to make sure they’re powered up and ready to go to work every day,” said Ford Pro CEO Ted Cannis. “With Electriphi’s existing advanced technology IP in the Ford Pro electric vehicles and services portfolio, we will enhance the experience for commercial customers and be a single-source solution for fleet-depot charging.”
Ford Pro estimates that the depot charging industry will grow to over 600,000 full-size trucks and vans by 2030. This acquisition supports Pro’s target to capture over $1 billion of revenue from charging by 2030.
The Electriphi acquisition comes as Ford prepares for the launch of all-electric versions of two of the world’s most popular, high-volume commercial vehicles – the Transit van and F-150 pickup. Ford will start shipping E-Transit to customers later this year; F-150 Lightning Pro will be available in spring 2022.
“Customers have been clear – electrification of their fleets is inevitable, with significant economic and sustainability benefits. They now need solutions that enable a seamless transition to electric vehicles,” said Electriphi CEO and co-founder Muffi Ghadiali. “Our synergies with Ford Pro will supercharge this transition. We’ll delight customers by helping them reap the benefits of electrification, so they can focus on what matters most – running their businesses effectively.”
Based in Silicon Valley, Electriphi’s team of more than 30 employees has developed and deployed a purpose-built electric vehicle fleet and charging management platform that simplifies fleet electrification, saves energy costs, and tracks key operational metrics like real-time status of vehicles, chargers and maintenance services. The team brings deep expertise in charging infrastructure, commercial electric vehicles and enterprise software, with a proven record of reliably providing services to government, commercial businesses, energy utilities and OEMs.
“Ford Pro is focused on helping commercial customers work better and smarter, with greater productivity and connectivity backed by trusted durability,” said Cannis. “Bringing Electriphi on board is the last component to complete Ford Pro’s strategy to establish a commanding leadership position in the software space and build out our full-service stack to create an always-on relationship with the commercial customer.”
Electriphi’s charging platform will complete the purpose-built, charging ecosystem services for commercial customers, including employee home charging, public charging and e-telematics solutions. From charging installation to operations, Ford has customers covered end to end. Customers in North America can sign up for Electriphi charge management services now at electriphi.ai. Ford Pro plans on making these services available in Europe at a later date.
The Electriphi acquisition is expected to close this month. Terms are not being disclosed. Morgan Stanley & Co. LLC is serving as Ford’s financial advisor in connection with this transaction.
Ford Pro – redefining, unlocking commercial customer value
Ford Pro, a key part of the Ford+ plan for growth and value creation, will deliver work-ready vehicles, products and services including:
Some elements of Ford Pro commercial services already have been introduced and are now being expanded in Europe, among them the recently launched Ford Fleet Management and FORDLiive. The latter is a connected uptime system expected to reduce downtime of customer fleets by up to 60%. Such enhanced services are generating higher levels of customer satisfaction, loyalty and growth for Ford.
In addition to expected benefits for customers, Ford Pro’s ambitions for itself are significant. The company anticipates its growing capabilities and appeal to generate $45 billion in revenue from hardware and adjacent and new services by 2025 – up from $27 billion in 2019. In North America, Ford’s share of Class 1 through Class 7 full-size trucks and vans exceeds 40%. In Europe, Ford has been the leading commercial vehicle brand for six consecutive years.
More information can be found at fordpro.com.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford designs, manufactures, markets and services a full line of connected, increasingly electrified passenger and commercial vehicles: Ford trucks, utility vehicles, vans and cars, and Lincoln luxury vehicles. The company is pursuing leadership positions in electrification, connected vehicle services and mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 186,000 people worldwide. More information about the company, its products and Ford Motor Credit Company is available at corporate.ford.com.
About Electriphi
Electriphi, Inc. is an award-winning technology company based in Silicon Valley, California. The company provides software and services to simplify the transition to electric vehicle fleets while saving time and costs for customers. Electriphi’s solutions span fleet electrification planning, deployment and operational energy management, with customers and partners across the U.S. and internationally. For more information, please visit www.electriphi.ai and follow Electriphi on LinkedIn, Twitter and Facebook.
Cautionary Note on Forward-Looking Statements
Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:
We cannot be certain that any expectation, forecast, or assumption made in preparing forward-looking statements will prove accurate, or that any projection will be realized. It is to be expected that there may be differences between projected and actual results. Our forward-looking statements speak only as of the date of their initial issuance, and we do not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events, or otherwise. For additional discussion, see “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended Dec. 31, 2020, as updated by subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
For news releases, related materials and high-resolution photos and video, visit www.media.ford.com
Dan Pierce
314-517-4750
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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
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DUBLIN--(BUSINESS WIRE)--The "Solid Oxide Fuel Cell Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The solid oxide fuel cell market is projected to have a compound annual growth rate of 24.46%, from US$681.850 million in 2019 to US$3,154.260 mil-lion in 2026.
Companies Mentioned
The market of solid oxide fuel cell is expected to drive by increasing investments to promote the sustainable environment, by increasing demand for the renewable sources of energy, and by increasing development of energy-efficient systems to fulfil the additional power demands. Now-a-days, increasing awareness for the sustainable environment by reducing the greenhouse gases emissions, the demand for solid oxide fuel cells is further increasing, which lead to potential growth in the forecast period. In addition to it, the increasing research and development on fuel cell programs, government subsidies are also boosting the demand for the solid oxide fuel cell markets. North America and Europe are having the significant demand for the clean fuel because of the increasing government awareness and strict rules for the carbon emissions into the environment.
By application, the market of solid oxide fuel cell is segmented into stationary, portable, transportation, commercial & industrial, residential and energy storage. Stationary segment is expected to have a significant growth in the forecast period and will have the significant market share as well. The growth of this segment is driven by the increasing demand for the hydrogen-based fuel cells that are used to meet the additional demand of energy. Asia Pacific region is having a potential to grow in this segment, especially, China, India, and South Korea. The segmentation of market by the End-users is done into data centers, military & defense, power generation, automotive, hydrogen generation and others. Among them, the power generation is the significant segment which has the potential growth in the forecast period. The increasing demand for the energy-efficient renewable sources of energy is driving this segment of the market, as power generation is an essential part of all the activities (residential, commercial, and industrial) such as defense & military, data centers, and so on.
By region, the solid oxide fuel cell market is having a significant market share in North America along with the potential growth opportunity in the forecast period. This region is mainly driven by the growth opportunities in US and Canada, which is driven by the increasing demand for the research and development for hydrogen generation and increasing demand for the fuel cell power. After North America, Asia Pacific region is having a significant market share and significant potential growth opportunity in the solid fuel cell market, followed by Europe region. By type, the market is segmented into tabular, planar, and thin sheets, where planar segment is expected to have a significant market share as well as significant growth rate in the market. The growth of this market's segment is driven by the features of the planar fuel cells, that are, its easy construction process and geometry.
COVID-19 Impact
The pandemic COVID-19 has adversely impacted the solid oxide fuel cell market, as it hampered both the production and the consumption markets, where in production market, the manufacturing has been hampered due to the lockdowns. Although, this pandemic has made realize the importance of the energy efficiency and environment sustainability and further boosts the demand for the technology and fuel cells to fulfil the demand of the increasing energy, heat, and power in the market with efficiency. Though, the pandemic has slowed down the economies, and affected the industries severely, but has also gave the boost to the solid oxide fuel cell market
APAC to witness lucrative growth
Asia Pacific is expected to have the highest growth in the solid oxide fuel cell market because of the increasing demand for the energy, increasing demand for energy efficient renewable sources of energy to protect the environment, and industrialization and urbanization. In this region, India, China, Japan, and South Korea is having the potential and significant growth opportunities in the forecast period. Japan is having the potential growth due to the increasing demand for the data centers, heat, and power demand for the personal consumption. India is having the investment opportunities, government support, and increasing demand for the heat and power which is driving the demand for the solid oxide fuel cells in the market
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Solid Oxide Fuel Cell Market Analysis, By Type
6. Global Solid Oxide Fuel Cell Market Analysis, By End-users
7. Global Solid Oxide Fuel Cell Market Analysis, by Geography
8. Competitive Environment and Analysis
9. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ds8lc4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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