DELRAY BEACH, Fla. & TROY, Mich.--(BUSINESS WIRE)--Forum Merger III Corporation (Nasdaq: FIII, FIIIU, FIIIW) (“Forum” or the “Company”) and Electric Last Mile, Inc. (“ELMS”) today announced that Forum’s management team purchased approximately $4.9 million, or 500,000 shares, of Forum’s common stock on the open market.
“This additional investment in Forum ahead of our business combination with Electric Last Mile, Inc. is a testament to our confidence in ELMS’ future as a leader in the commercial electric vehicle industry,” said a member of the Forum management team. “With an expected first-mover advantage and seasoned leadership team, we believe ELMS is strongly positioned to redefine the last mile industry and we look forward to supporting their efforts. As we approach the close of the business combination, we continue to be excited for the future of ELMS.”
Forum will hold a special meeting of its stockholders on June 24, 2021 to approve its proposed business combination with ELMS. If the business combination is approved, the combined company will be named Electric Last Mile Solutions, Inc. and the common stock of Electric Last Mile Solutions, Inc. will continue to be listed on the Nasdaq Capital Market under the new ticker symbol “ELMS.”
About Forum Merger III Corporation
Forum Merger III Corporation (NASDAQ: FIII, FIIIU, FIIIW) is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Forum’s mandate is to consider an initial business combination target in any business or industry and it focused its search on companies with an aggregate enterprise value of approximately $500 million to $2 billion that are based in the United States. Forum is led by Co-Chief Executive Officers Marshall Kiev and David Boris.
About Electric Last Mile, Inc.
ELMS is focused on redefining the last mile with efficient, connected and customizable solutions. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 commercial electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com or Twitter @ELMSolutions.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forum Merger III Corporation’s (“Forum”) and ELMS’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,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Forum’s and ELMS’s expectations with respect to future performance and anticipated financial impacts of the previously announced business combination of Forum and ELMS (the “business combination”), the satisfaction of the closing conditions to the business combination, the size, demands and growth potential of the markets for ELMS’s products and ELMS’s ability to serve those markets, ELMS’s ability to develop innovative products and compete with other companies engaged in the commercial delivery vehicle industry and/or the electric vehicle industry, ELMS’s ability to attract and retain customers, the estimated go to market timing and cost for ELMS’s products, the implied valuation of ELMS and the timing of the completion of the business combination. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Forum’s and ELMS’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the agreement and plan of merger (“Merger Agreement”) relating to the business combination or could otherwise cause the business combination to fail to close; (2) the inability of ELMS to consummate the Carveout Transaction (as defined below); (3) the outcome of any legal proceedings that may be instituted against Forum or ELMS following the announcement of the business combination; (4) the inability to complete the business combination, including due to failure to obtain approval of the stockholders of Forum or other conditions to closing in the Merger Agreement; (5) the receipt of an unsolicited offer from another party for an alternative business transaction that could interfere with the business combination; (6) the inability to obtain the listing of the common stock of the post-acquisition company on the Nasdaq Stock Market or any alternative national securities exchange following the business combination; (7) the risk that the announcement and consummation of the business combination disrupts current plans and operations; (8) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the combined company to grow and manage growth profitably and retain its key employees; (9) costs related to the business combination; (10) changes in applicable laws or regulations; (11) the possibility that ELMS may be adversely affected by other economic, business, and/or competitive factors; (12) the impact of COVID-19 on the combined company’s business; and (13) other risks and uncertainties indicated from time to time in the proxy statement filed relating to the business combination, including those under the “Risk Factors” section therein, and in Forum’s other filings with the SEC. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that Forum and ELMS consider immaterial or which are unknown. Forum and ELMS caution that the foregoing list of factors is not exclusive. Forum and ELMS caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. ELMS is currently engaged in limited operations only and its ability to carry out its business plans and strategies in the future are contingent upon the closing of the business combination. The consummation of the business combination is subject to, among other conditions, (i) the effectiveness of certain agreements between ELMS and SF Motors, Inc. (d/b/a SERES) (“SERES”), (ii) the acquisition by ELMS of a leasehold interest in, or fee simple title to, the Indiana manufacturing facility prior to the business combination (provided that Forum has agreed that this condition will be waived upon delivery by ELMS of evidence of the mutual written agreement of ELMS and SERES as to the date and time of the transfer of possession of the facility to ELMS, which date and time shall be no later than two business days following the closing of the business combination), and (iii) the securing by ELMS of key intellectual property rights related to its proposed business (collectively, the “Carveout Transaction”). All statements herein regarding ELMS’s anticipated business assume the completion of the Carveout Transaction. Forum and ELMS do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
Important Information About the Business Combination and Where to Find It
In connection with the business combination, Forum filed a definitive proxy statement with the U.S. Securities and Exchange Commission (“SEC”). Forum’s stockholders and other interested persons are advised to read the definitive proxy statement in connection with Forum’s solicitation of proxies for the Special Meeting to be held to approve, among other things, the business combination, because these documents contain important information about Forum, ELMS and the business combination. The definitive proxy statement for the business combination was mailed to stockholders of Forum as the Record Date. Forum’s stockholders may also obtain a copy of the definitive proxy statement, as well as other documents filed with the SEC by Forum, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: Forum Merger III Corporation, 1615 South Congress Avenue, Suite 103, Delray Beach, FL 33445. The information contained on, or that may be accessed through, the websites referenced in this press release is not incorporated by reference into, and is not a part of, this press release.
Participants in the Solicitation
Forum and its directors and executive officers may be considered participants in the solicitation of proxies with respect to the business combination. Information about the directors and executive officers of Forum and a description of their interests in Forum are set forth in the definitive proxy statement, which was filed with the SEC, in connection with the proposed business combination. These documents can be obtained free of charge from the sources indicated above. ELMS and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Forum in connection with the business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination are set forth in the definitive proxy statement, which was filed with the SEC, in connection with the proposed business combination. These documents can be obtained free of charge from the sources indicated above.
For Forum Merger III Corporation
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For Electric Last Mile, Inc.
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SHANGHAI--(BUSINESS WIRE)--o9 Solutions, a premier AI-driven integrated planning and operations solution provider for the enterprise, and vTradEx, the leading brand of intelligent, mobile internet and hybrid cloud solutions in supply chain execution, have successfully jointly entered the Chinese market. The partnership, which was announced in 2020, has already proved to be extremely valuable to Chinese customers.
o9 selected vTradEx as its official reseller for the Chinese market. The joint team has already started deploying two customer projects in China, ABInBev and Schaeffler. The ability to execute and deliver value to multiple customers in the consumer goods and manufacturing industries has proven to be a success. Both companies have experienced consultants in the supply chain planning area and the delivery team is expected to grow more than threefold to accommodate the high demand in China. o9 and vTradEx will continue to invest and help Chinese companies accelerate their digital transformation process.
Meng-Huai Chen, president of vTradEx said: “o9’s AI-based supply chain planning brings the digital brain to Chinese enterprises, which is a significant landmark in the new digital transforming era. vTradEx has thrived in China for more than 20 years. Our solid customer-based and more than 500 experienced consultants provide enormous resource leverages, and together with o9, we will create certainty out of the uncertain business environment for Chinese enterprises.”
“We are very proud of our partnership with vTradEx,” said Igor Rikalo, COO of o9 Solutions. “vTradEx is an established and highly knowledgeable partner for the Chinese market. Together, we have proven to our Chinese customers that we can deliver tremendous value in complex supply chain environments, by deploying for them the latest planning and decision-making technology. Using our Enterprise Knowledge Graph, we provide rich modeling capabilities to power next generation business applications that help turn data into knowledge and enable enterprises to make smarter decisions.”
About o9 Solutions, Inc.
o9 Solutions is a leading AI-powered platform for integrated business planning and decision-making for the enterprise. Whether it is driving demand, aligning demand and supply, or optimizing commercial initiatives, any planning process can be made faster and smarter with o9’s AI-powered digital solutions. Bringing together technology innovations—such as graph-based enterprise modelling, big data analytics, advanced algorithms for scenario planning, collaborative portals, easy-to-use interfaces and cloud-based delivery—into one platform. For more information, please visit www.o9solutions.com.
About vTradEx
Founded in 2001, vTradEx is the leading provider of intelligent cloud solutions that redefine supply chain execution for global organizations operating in China. Our mission is to empower the enterprise supply chain by using cloud technology for logistics digital transformation and enable them to make better, more responsive supply chain decisions. vTradEx has delivered a TMS platform to support the transportation ecosystem as well as a WMS for highly automated warehouses for more than 1200 of the world’s leading companies, including CPG, retail, pharmaceuticals, apparel and fashion, automotive, high-tech, manufacturing and logistics companies. By bringing this ecosystem of shippers, carriers, and logistics service providers to the cloud, vTradEx enables end-to-end visibility, connectivity, and efficiency to the trading partners. This helps our customers to cut costs and gain an unparalleled advantage. vTradEx was named among the Honorable Mentions in Gartner Magic Quadrant Survey for TMS and WMS software globally.
Contact o9 Solutions
Evelien van der Wel
PR Manager
+31 611737049
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OSLO, Norway & NEW YORK--(BUSINESS WIRE)--FREYR AS (FREYR), the Norway-based developer of clean, next-generation battery cell production capacity, and Alussa Energy Acquisition Corp. (Alussa Energy) have named eight directors to be appointed to the Board of Directors (Board) for FREYR Battery, a newly formed company created for the proposed business combination between FREYR and Alussa Energy. The Board shall assume its position with effect from the closing of the business combination.
The Board will support FREYR Battery in its ambition to become one of the leading producers of clean batteries to accelerate the decarbonization of transportation and energy systems across the globe.
The identified Directors represent a diverse set of experiences and backgrounds, all of whom believe in the mission of global decarbonization and development of sustainable energy solutions. The Board is carefully composed of business leaders from five different countries, including Norway, the United States, Hungary, Brazil and Argentina, providing the global perspectives that will guide FREYR Battery towards accomplishing its ambition of providing clean, efficient, low-carbon and low-cost battery cells.
The initial Board will comprise of the following Directors:
Torstein Dale Sjøtveit, the founder and executive chairman of FREYR, and FREYR Battery Board nominee, said; “I am very proud and humbled by having such a competent and diverse team joining the Board of Directors at FREYR Battery. We all share the same strategic vision for the company of developing a leading global position through partnering with technology providers, customers and suppliers to deliver low-cost battery cells with among the lowest carbon content in the world. We start delivering on our ambitions by building our first plants in Norway with a focus on the global ESS and commercial vehicle market and expect to expand our production footprint into other markets with scale and speed.”
Daniel Barcelo, Founder and Director of Alussa Energy, continued, “The FREYR Battery Board of Directors represents the full bandwidth of industry, technology and sustainability capabilities that are required to fully support the FREYR team in executing our joint goal of decarbonizing transportation and energy systems by delivering sustainable and cost-effective batteries.”
Jeremy Bezdek, Managing Director of KSP, the largest investor in FREYR Battery, commented, “The KSP mandate to pursue investments in innovative, differentiated companies involved in the transforming energy space has been a focus for us. We see the immense potential in FREYR’s business model and are eager to work with the company to grow these plans on a global scale. Our investment in FREYR provides KSP the opportunity to participate in the emerging EV and energy storage markets in a manner that will enable significant long-term value creation in different markets around the globe.”
Olaug Svarva, the Chair of DNB and Norfund, and independent nominee to the FREYR Battery Board, added, “The transformation of FREYR from an ambitious Norwegian clean battery start-up into a NYSE-listed company with global partners and a proven senior executive team is well underway. Sustainable energy solutions are the pathway to an emission-free future, and I could not be more excited to be working with a young, ambitious company set to make a lasting worldwide impact through the decarbonization of transport and energy systems. FREYR’s upcoming NYSE listing is a major milestone for Norway as an incubator of advanced process industry and renewable energy companies which help to accelerate the global energy transition.”
German Curá, the Vice-Chairman of Tenaris and director of Alussa Energy, said, “FREYR has built an incredibly well-equipped management team with leaders that have real hands-on experience from global business and project development. I truly appreciate the opportunity to help couple this deep Norwegian process industry know-how and the nation’s renewable energy surplus to unlock the potential to build a strong, growing and global sustainable industry. I’m looking forward to being part of that transition as a member of FREYR Battery’s Board of Directors.”
On 29 January 2021, FREYR announced that it will become a publicly listed company through a business combination with Alussa Energy. Subject to closing conditions being met, the combined company will be named “FREYR Battery” and its ordinary shares and warrants are expected to start trading on the New York Stock Exchange under the ticker symbol FREY upon closing. The Board of Directors will be appointed in accordance with the business combination agreement, which was approved by the extraordinary general meeting of FREYR on 16 February. Alussa Energy will hold its Special Meeting to approve the business combination on 30 June 2021.
Alussa Energy/FREYR Capital Markets Update Webcast
Alussa Energy and FREYR will jointly host a virtual Capital Markets Update at 10:00 a.m. Eastern Time on June 22, 2021 to discuss items related to the business combination and provide an update on business activities at FREYR. In addition, the webcast will feature Jarand Rystad, CEO of Rystad Energy, who will provide the firm’s macro outlook for global energy transition trends and the battery industry. Visit the ‘Investors’ section at both www.freyrbattery.com and www.alussaenergy.com for more information.
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.
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: https://www.alussaenergy.com.
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, 2021 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 CONTAIN IMPORTANT INFORMATION ABOUT ALUSSA ENERGY, PUBCO, FREYR AND THE TRANSACTION. The S-4 was declared effective on June 14, 2021 and the definitive Proxy Statement contained in the S-4 and other relevant materials for the transaction have been 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 the Solicitation
Alussa Energy, Pubco and FREYR and certain of their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the shareholders of Alussa Energy in favor of the approval of the business combination. Shareholders of Alussa Energy and other interested persons may obtain more information regarding the names and interests in the proposed transaction of Alussa Energy’s directors and officers in Alussa Energy’s filings with the SEC, including Alussa Energy’s annual report on form 10-K for the year-ended December 31, 2020, which was filed with the SEC on March 1, 2021 and amended on May 6, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Additional information regarding the interests of such potential participants are also included in the registration statement and other relevant documents filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
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.
Forward-looking Statements
Certain statements made in this press release, and certain oral statements made by representatives of Alussa Energy, Pubco 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 appointment of the nominated directors, the production of clean and cost-effective batteries, the plan to deliver 43 GWh of next-generation battery cell manufacturing capacity, potential partnerships with technology providers, customers and suppliers to deliver clean and low-cost battery cells, the expansion into other markets with scale and speed, the listing of Pubco’s common stock and warrants on the New York Stock Exchange and the closing of the business combination. 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 failure to appoint the nominated directors, 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 renewable energy, build collaborations with technology providers, customers and suppliers and expand into other 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.
FREYR
Steffen Føreid, CFO, +47 9755 7406, This email address is being protected from spambots. You need JavaScript enabled to view it.
Harald Bjørland, Investor Relations, +47 908 58 221, This email address is being protected from spambots. You need JavaScript enabled to view it.
Hilde Rønningsen, Director of Communications,+47 453 97 184, This email address is being protected from spambots. You need JavaScript enabled to view it.
Alussa Energy
Chi Chow, Alussa Energy, Strategy & Investor Relations, +1 929-303-6514, This email address is being protected from spambots. You need JavaScript enabled to view it.
WHITE PLAINS, N.Y.--(BUSINESS WIRE)--#RNG--OPAL Fuels LLC, the market leader in developing and marketing renewable natural gas (RNG) fuel, today announced that John Coghlin, who last served as general counsel at Colt Defense, will serve as Opal Fuels’ general counsel. Coghlin, whose career has also included serving as general counsel at HealthCor Group and Citizens Financial Group, specializes in corporate law, corporate finance, negotiations, mergers and acquisitions, governance, and regulatory compliance.
“John is the sort of diligent problem-solver that will help OPAL Fuels achieve their significant growth plans,” said Jon Maurer, Co-CEO of OPAL Fuels LLC. “He is a tested general counsel who has worked in some of the most heavily-regulated industries in the country and has proven, time and again, that he can empower companies to achieve what they are best at. In OPAL Fuels’ case, that means John will provide us the support to help produce low-cost fuel that limits emissions and saves the planet. We are thrilled he is joining us.”
At Colt Defense, Coghlin had a string of successes, including negotiating a $225 million senior secured financing deal; structuring and negotiating $500 million in commercial agreements; and overseeing the complete range of SEC reporting, monitoring, and governance.
Coghlin had similar successes at both HealthCor Group and Citizens Financial Group. At HealthCor, an investment advisor with over $3 billion in assets under management, Coghlin designed and implemented a comprehensive compliance infrastructure to meet SEC requirements and negotiated terms for over $400 million in new products. At Citizens Financial Group, he oversaw legal, operational, and regulatory risk management for one of the top ten U.S. retail banks.
“I am excited to be a part of what OPAL Fuels is building,” said Coghlin. “It is rare that a business provides so many win-win opportunities. OPAL Fuels is truly valuable for all of its constituencies. It saves fleets money, limits emissions, and gives dairy farmers and landfills vital new revenue streams. I am honored that I will have the opportunity to support and provide legal guidance to this growing company.”
About OPAL Fuels LLC
OPAL Fuels LLC, a FORTISTAR portfolio company, brings together FORTISTAR Methane Group, FORTISTAR RNG, and TruStar Energy to create a vertically integrated renewable fuels platform. It is an emerging leader in the production and distribution of renewable natural gas (RNG), a proven low carbon fuel with a decades-long track record of results that has the power to rapidly decarbonize the transportation industry. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, low-cost alternative to diesel fuel. As a vertically integrated producer and distributor of RNG for heavy-duty truck fleets for over 20 years, OPAL Fuels delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL Fuels and how it is leading the effort to decarbonize North America's transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.
Media
Lily Thieneman
502-468-8801
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Appointment of business director Jerin Raj will help to advance the region’s renewable energy integration, grid reliability targets
BANGKOK--(BUSINESS WIRE)--As the need for integrated power generation, transmission and distribution solutions grows across Asia, Black & Veatch has further strengthened its power transmission and distribution team with the appointment of Jerin Raj as its Asia Power Transmission & Distribution Business Director.
“With the share of renewable energy in Southeast Asia’s power generation mix increasing, the region will need more integrated power solutions to improve grid efficiencies and resilience. One critical step will be to expand its transmission and distribution networks. Jerin’s deep knowledge of the regional power transmission sector will further enable Black & Veatch to help clients achieve profitability, reliability and compliance targets through cost and schedule certainty,” said Narsingh Chaudhary, Black & Veatch's Executive Vice President & Managing Director, Asia Power Business.
According to Black & Veatch’s Strategic Directions: Electric Industry Asia 2021 Report, the most significant investments in new capacity over the next three to five years is expected in renewable energy. Solar (land), energy storage, solar (floating), wind (offshore) and microgrids represent the top five categories.
Regional energy industry leaders caution that underinvestment in more reliable transmission networks is one of the key threats to reliable grid operations and performance across Asian electricity markets.
Raj has over 17 years of global experience in project delivery, business development, sales, proposals, contracting, operations, change management and project management primarily in the power transmission sector. In his previous roles, he organized and ran operations in Southeast Asia and helped to deliver power transmission infrastructure across the East Asia Pacific region. Raj is based in Bangkok.
A market leader in power transmission and distribution infrastructure, Black & Veatch offers a full range of new and operating asset services from consulting, engineering, to full Engineering, Procurement and Construction (EPC) in areas including substations, overhead and underground transmission lines, renewables integration, high voltage direct current (HVDC) transmission and flexible alternating current transmission systems (FACTS).
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Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.
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Norris Cylinder Continues to Invest in its Texas and Alabama Manufacturing Locations
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--TriMas (NASDAQ: TRS) today announced its Norris Cylinder business is now officially a “Made in the USA” designated manufacturer. Even before achieving this status, Norris was the only remaining manufacturer of forged steel high-pressure cylinders and acetylene cylinders located in the United States.
“For more than 70 years, Norris Cylinder has provided a strong commitment to providing customer solutions with demonstrated quality and exceptional service to the compressed industrial gas industry,” said Thomas Amato, TriMas President and Chief Executive Officer. “We believe this important step to recognize our Made in the USA status is a win for our customers, employees and the communities where we operate. We are pleased to continue to support our stakeholders by further investing in Norris Cylinder manufacturing operations in the United States, which continues to advance local skills and technology development.”
Norris Cylinder is a manufacturer of compressed high- and low-pressure steel and acetylene cylinders used for the storage and transportation of compressed industrial gases. With state-of-the-art manufacturing locations in Longview, Texas, and Huntsville, Alabama, Norris Cylinder produces a complete line of small, intermediate and large seamless steel high-pressure cylinders and welded DOT and ISO acetylene cylinders for the industrial gas market, as well as stainless steel and nickel cylinders for specialty gas applications. While the cylinders are “Made in the USA”, Norris Cylinder’s approximately 300 dedicated employees service customers globally, with a strategic focus on quality, innovative product development and compliance with worldwide standards.
“As a Made in the USA manufacturer, we are able to assure our customers that all of their gas packaging and safety requirements are locally addressed,” said Chuck Manz, President of Norris Cylinder. “We manufacture in Texas and Alabama, and source virtually all of our materials or components from other U.S. manufacturers, thereby cascading our commitment to the U.S. workforce, and maintaining more control over lead times and quality.”
More information on Norris Cylinder and its product offering may be found at www.norriscylinder.com.
About TriMas
TriMas is a global manufacturer and provider of products for customers primarily in the consumer products, aerospace and industrial markets, with approximately 3,200 dedicated employees in 11 countries. We provide customers with a wide range of innovative and quality product solutions through our market-leading businesses. Our TriMas family of businesses has strong brand names in the markets served, and operates under a common set of values and strategic priorities under the TriMas Business Model. TriMas is publicly traded on the NASDAQ under the ticker symbol “TRS,” and is headquartered in Bloomfield Hills, Michigan. For more information, please visit www.trimascorp.com.
Sherry Lauderback
VP, Investor Relations & Communications
(248) 631-5506
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VANCOUVER, British Columbia--(BUSINESS WIRE)--DBRS Morningstar has assigned BlueShore Financial Credit Union a Long-Term Issuer Rating of BBB (high) and a Short-Term Issuer Rating of R-1 (low). The trend on all ratings is Stable. The rating reflects BlueShore Financial’s strong franchise position, asset quality, risk profile and prudent levels of liquidity and capital.
As a globally recognized credit rating agency, DBRS Morningstar has vast financial industry knowledge, specifically on the Canadian financial system.
“To have our strong business strategy and financial stability recognized by DBRS is further validation that BlueShore remains on the right track. In a year of global disruption, BlueShore has remained steadfast in our commitment to our clients, staff and organization. We are pleased by this positive credit rating,” said Chris Catliff, President and CEO, BlueShore Financial. “We look ahead to the future with drive and optimism as BlueShore continues on its growth trajectory and digital transformation journey to support the client experience.”
For further details on the credit rating, visit DBRS Morningstar’s website at dbrsmorningstar.com.
BlueShore Financial manages over $6.5 billion in Assets under Administration and serves 40,000 clients in B.C. across the Lower Mainland and Sea-to-Sky Corridor.
About BlueShore Financial
BlueShore Financial is a boutique financial institution providing a full range of personal and business banking, wealth management, insurance and commercial lending solutions. With a branch network located across the Lower Mainland and Sea-to-Sky Corridor, BlueShore Financial helps clients achieve financial wellness® through personalized solutions and expert advice, delivered in a unique Financial Spa® branch environment. BlueShore Financial manages over $6.5 billion in Assets under Administration and is consistently ranked among the top financial planning firms in Metro Vancouver.
BlueShore Financial is an Imagine Canada Caring Company, contributing at least 1% of pre-tax profits annually to charities and not-for-profit organizations within the communities it serves. BlueShore Financial is the operating name of BlueShore Financial Credit Union.
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Media:
Nikky Saini
Magnolia Marketing Communications
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+1-604-369-0590
TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: CHE.UN) today announced that it has declared a cash distribution of $0.05 per unit for the month of June 2021 payable on July 27, 2021 to unitholders of record at the close of business on June 30, 2021.
Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
Rohit Bhardwaj
Chief Financial Officer
Tel: (416) 496-4177
Ryan Paull
Business Development Manager
Tel: (973) 515-1831
DUBLIN--(BUSINESS WIRE)--The "Small Scale Single and Multi-rotor Wind Turbine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The latest study collated by the publisher analyzes the historical and present-day scenario of the global small scale single and multi-rotor wind turbine market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global small scale single and multi-rotor wind turbine market in order to identify opportunities for stakeholders. The report also provides insightful information about how the global small scale single and multi-rotor wind turbine market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global small scale single and multi-rotor wind turbine market, which aids companies operating in the market in making strategic decisions. The publisher's study also elaborates on the significant changes that are anticipated to configure growth of the global small scale single and multi-rotor wind turbine market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the global small scale single and multi-rotor wind turbine market and estimates statistics related to the market in terms of capacity (MW) and value (US$ Mn).
This study covers detailed segmentation of the global small scale single and multi-rotor wind turbine market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global small scale single and multi-rotor wind turbine market, wherein various development, expansion, and winning strategies practiced by these players have been presented in detail.
Companies Mentioned
Key Questions Answered in the Report
The report provides detailed information about the global small scale single and multi-rotor wind turbine market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the global market and are looking for innovative methods to create a unique benchmark in the global market so as to help them design successful strategies and make target-driven decisions.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Market Dynamics
3.1. Drivers and Restraints Snapshot Analysis
3.1.1.1. Drivers
3.1.1.2. Restraints
3.1.1.3. Opportunities
3.2. Porter's Five Forces Analysis
3.3. Regulatory Scenario
3.4. Comparative Analysis
3.5. Value Chain Analysis
4. COVID-19 Impact Analysis
5. Global Small Scale Single and Multi-rotor Wind Turbine Market Capacity (MW) and Value (US$ Mn) Analysis, by Power Output
6. Global Small Scale Single and Multi-rotor Wind Turbine Market Capacity (MW) and Value (US$ Mn) Analysis, by Rotor Type
7. Global Small Scale Single and Multi-rotor Wind Turbine Market Capacity (MW) and Value (US$ Mn) Analysis, by End-user
8. Global Small Scale Single and Multi-rotor Wind Turbine Market Analysis, by Region
8.1. Key Findings
8.2. Global Small Scale Single and Multi-rotor Wind Turbine Market Capacity (MW) and Value (US$ Mn) Forecast, by Region
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Rest of World
8.3. Global Small Scale Single and Multi-rotor Wind Turbine Market Attractiveness Analysis, by Region
9. North America Small Scale Single and Multi-rotor Wind Turbine Market Overview
10. Europe Small Scale Single and Multi-rotor Wind Turbine Market Overview
11. Asia Pacific Small Scale Single and Multi-rotor Wind Turbine Market Overview
12. Rest of World Small Scale Single and Multi-rotor Wind Turbine Market Overview
13. Competition Landscape
14. Primary Research - Key Insights
15. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/korgs8
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group, Inc., (OTCQB: CRTG), developers of engineered silicon and 3D volumetric displays, has appointed Matthew Kappers as its Chief Executive Officer to lead the company through its next stage of growth. Mr. Kappers will also join CRTG’s board of directors.
Mr. Kappers has spent the last decade as a Partner and Managing Director of Concordia Financial Group, LLC, a merger & acquisition advisory firm. Prior to joining as CEO, Mr. Kappers was a consultant for The Coretec Group for the past two and half years. Mr. Kappers has extensive transactional and operational experience working with both startups and publicly traded companies.
“Matt brings a wealth of expertise. He has extensive experience working with the public markets and helping companies reach operational efficiency and executing strategic growth initiatives,” said Victor Keen, co-chairperson of the board. “We are fortunate to have Matt as CEO. He shares our passion and intimately understands our business.”
Mr. Kappers will be responsible for the next stage of growth for The Coretec Group. In March, the company closed on a $6.0 Million private placement offering. Mr. Kappers will further the use of the net proceeds to expand and accelerate the development of its CHS technology, as well as for working capital, general corporate purposes, and strategic investments.
“As The Coretec Group enters the next stage of innovation and growth, I am honored and excited to be part of such a talented team,” said Kappers. ”The opportunity ahead for the company is immense and we must move quickly and be nimble.”
Michael Kraft, whose expertise is in applied materials product development, has transitioned to President and is focusing on the commercialization of The Coretec Group’s CHS. He is also working with global customers and internationally recognized research institutions as they evaluate CHS. Mr. Kraft will also lead the company’s efforts in coordinating results and expanding the IP Portfolio of CHS.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
For more information, please visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and LinkedIn.
Forward-Looking Statements:
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
Corporate contact:
The Coretec Group, Inc.
Lindsay McCarthy
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+1 (866) 916-0833
Media contact:
The Coretec Group, Inc.
Allison L. Gabrys
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+1 (866) 916-0833
TULSA, Okla. & HOUSTON & ATLANTA--(BUSINESS WIRE)--Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area. The Midland WTI American Gulf Coast contract (ICE: HOU) is being launched in response to market interest for a Houston-based index with greater scale, flow assurance and price transparency. It will utilize the capabilities and global reach of ICE’s industry-recognized, state-of-the-art trading platform and is due to be launched by ICE by early 2022, subject to regulatory approval.
The quality specifications of the new futures contract will be consistent with a West Texas Intermediate (“WTI”) crude oil originating from the Permian Basin with common delivery options at either the Magellan East Houston (“MEH”) terminal or the Enterprise Crude Houston (“ECHO”) terminal. In support of this new futures contract, Magellan and Enterprise anticipate discontinuing their existing provisions for delivery services under the current futures contracts deliverable at each terminal once the new contract receives regulatory approval and is finalized.
“Magellan is pleased to join forces with Enterprise and ICE to offer this leading-edge joint futures contract,” said Aaron Milford, Magellan’s chief operating officer. “The new contract improves the transparency, flexibility and marketability of Midland WTI crude oil for Gulf Coast and export customers while maintaining industry-recognized quality and consistency.”
Harold Hamm, Chairman of the Board of Continental Resources and Founding Member of the American Gulf Coast Select Best Practices Task Force Association said, “On April 20th last year, when the Cushing, Oklahoma WTI contract traded down to negative $38 it was a wake-up call to the oil industry that the storage constraints and landlocked location of the Cushing contract could no longer be ignored. I started the American Gulf Coast Select Best Practices Task Force to develop specifications for a new U.S. light sweet crude oil price benchmark in the American Gulf Coast, and to advocate for its implementation and adoption as the main pricing point for the U.S. oil markets. We think a futures contract in the most interconnected market center in the country, with a widely accepted quality spec, which settles with guaranteed delivery of crude oil is an important new alternative for the industry. The task force has worked tirelessly to create a marker with transparency and liquidity that is waterborne for this modern era. The Midland WTI American Gulf Coast futures contract established by the alliance between ICE, Magellan and Enterprise is a huge step forward for the industry and goes a long way to accomplishing the mission on which the task force has been working.”
A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner, and Michael Mears, Magellan’s chief executive officer, said, “We are grateful for Harold’s continued leadership on behalf of the industry and being a champion of this very important step for the industry.”
Brent Secrest, executive vice president and chief commercial officer of Enterprise’s general partner said, “We are excited about this new crude oil futures contract, which features the combined strength of two extensive and complementary networks of midstream assets with a world-class trading platform to provide customers with greater supply reliability, flexibility and price transparency. As the market hub for Permian Basin production, Houston represents the most logical choice for a new futures contract. Between Magellan and Enterprise, we offer access to virtually all of the export capacity in the Houston region, redundant connectivity to all area refineries, a robust Gulf Coast storage position and interconnects to all of the relevant supply pipelines, including those owned by third parties.”
Jeff Barbuto, Global Head of Oil Markets at ICE stated, “Combining efforts with Magellan and Enterprise to establish a benchmark for pricing Midland quality WTI on the Gulf Coast allows ICE to offer the industry a futures contract with over 4 million barrels per day of supply capacity from Midland into Houston, access to both domestic and foreign demand, and nearly 60 million barrels of storage capacity in the Magellan and Enterprise systems. Traded on the same global platform as ICE Brent, Murban and Platts Dubai Crude Oil futures contracts, the new Midland WTI American Gulf Coast contract can also offer significant capital efficiencies to the industry and provide industry-leading quality that buyers have grown accustomed to in the Houston market.”
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner, as well as Magellan and ICE expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s, Magellan’s and ICE’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise, Magellan and ICE do not intend to update or revise their respective forward-looking statements, whether as a result of new information, future events or otherwise.
Magellan Contacts
Paula Farrell, Investor Relations (918) 574-7650, This email address is being protected from spambots. You need JavaScript enabled to view it.
Bruce Heine, Media Relations (918) 574-7010, This email address is being protected from spambots. You need JavaScript enabled to view it.
Enterprise Contacts
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
ICE Contacts
Mary Caroline O’Neal, Investor Relations, (770) 738-2151, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rebecca Mitchell, Media Relations, +44 7951 057 351, This email address is being protected from spambots. You need JavaScript enabled to view it.
CHICAGO--(BUSINESS WIRE)--Exelon today announced the release of its 2020 Corporate Sustainability Report (CSR), which highlights Exelon’s efforts to address the climate crisis and build a cleaner, more resilient energy grid, invest in technology and innovation to improve service, and provide support and programs to customers and communities that will create a cleaner, brighter and more equitable future. The report is complemented by the release of Exelon’s second annual Environmental, Social and Governance (ESG) Report.
“Despite the challenges of 2020, our employees worked tirelessly to ensure our customers and communities had access to clean, affordable and reliable energy,” said Chris Crane, president and CEO, Exelon. “At the same time, we stayed focused on our low-carbon sustainability strategy and redoubled our work on social justice and racial equity, while maintaining our commitment to operational excellence, financial discipline and utility investment.”
The report outlines Exelon’s record as the nation’s largest producer of carbon-free electricity and a long-time advocate for state and federal energy policies to reduce emissions from the energy sector. The report also details the company’s commitment to serving customers and communities through innovative energy technologies, new investments that drive reliability and efficiency, and an ongoing focus on diversity, equity and inclusion.
The report also highlights that Exelon:
For more information about Exelon’s corporate sustainability and ESG efforts please visit Exelon’s Sustainability and Environmental, Social & Governance Resources webpages.
About Exelon
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
Elizabeth Keating
Corporate Communications
312-394-4111
This email address is being protected from spambots. You need JavaScript enabled to view it.
TULSA, Okla., HOUSTON & ATLANTA--(BUSINESS WIRE)--Magellan Midstream Partners, L.P. (NYSE: MMP), Enterprise Products Partners L.P. (NYSE: EPD) and Intercontinental Exchange, Inc. (NYSE: ICE) today announced the establishment of a new futures contract for the physical delivery of crude oil in the Houston area. The Midland WTI American Gulf Coast contract (ICE: HOU) is being launched in response to market interest for a Houston-based index with greater scale, flow assurance and price transparency. It will utilize the capabilities and global reach of ICE’s industry-recognized, state-of-the-art trading platform and is due to be launched by ICE by early 2022, subject to regulatory approval.
The quality specifications of the new futures contract will be consistent with a West Texas Intermediate (“WTI”) crude oil originating from the Permian Basin with common delivery options at either the Magellan East Houston (“MEH”) terminal or the Enterprise Crude Houston (“ECHO”) terminal. In support of this new futures contract, Magellan and Enterprise anticipate discontinuing their existing provisions for delivery services under the current futures contracts deliverable at each terminal once the new contract receives regulatory approval and is finalized.
“Magellan is pleased to join forces with Enterprise and ICE to offer this leading-edge joint futures contract,” said Aaron Milford, Magellan’s chief operating officer. “The new contract improves the transparency, flexibility and marketability of Midland WTI crude oil for Gulf Coast and export customers while maintaining industry-recognized quality and consistency.”
Harold Hamm, Chairman of the Board of Continental Resources and Founding Member of the American Gulf Coast Select Best Practices Task Force Association said, “On April 20th last year, when the Cushing, Oklahoma WTI contract traded down to negative $38 it was a wake-up call to the oil industry that the storage constraints and landlocked location of the Cushing contract could no longer be ignored. I started the American Gulf Coast Select Best Practices Task Force to develop specifications for a new U.S. light sweet crude oil price benchmark in the American Gulf Coast, and to advocate for its implementation and adoption as the main pricing point for the U.S. oil markets. We think a futures contract in the most interconnected market center in the country, with a widely accepted quality spec, which settles with guaranteed delivery of crude oil is an important new alternative for the industry. The task force has worked tirelessly to create a marker with transparency and liquidity that is waterborne for this modern era. The Midland WTI American Gulf Coast futures contract established by the alliance between ICE, Magellan and Enterprise is a huge step forward for the industry and goes a long way to accomplishing the mission on which the task force has been working.”
A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner, and Michael Mears, Magellan’s chief executive officer, said, “We are grateful for Harold’s continued leadership on behalf of the industry and being a champion of this very important step for the industry.”
Brent Secrest, executive vice president and chief commercial officer of Enterprise’s general partner said, “We are excited about this new crude oil futures contract, which features the combined strength of two extensive and complementary networks of midstream assets with a world-class trading platform to provide customers with greater supply reliability, flexibility and price transparency. As the market hub for Permian Basin production, Houston represents the most logical choice for a new futures contract. Between Magellan and Enterprise, we offer access to virtually all of the export capacity in the Houston region, redundant connectivity to all area refineries, a robust Gulf Coast storage position and interconnects to all of the relevant supply pipelines, including those owned by third parties.”
Jeff Barbuto, Global Head of Oil Markets at ICE stated, “Combining efforts with Magellan and Enterprise to establish a benchmark for pricing Midland quality WTI on the Gulf Coast allows ICE to offer the industry a futures contract with over 4 million barrels per day of supply capacity from Midland into Houston, access to both domestic and foreign demand, and nearly 60 million barrels of storage capacity in the Magellan and Enterprise systems. Traded on the same global platform as ICE Brent, Murban and Platts Dubai Crude Oil futures contracts, the new Midland WTI American Gulf Coast contract can also offer significant capital efficiencies to the industry and provide industry-leading quality that buyers have grown accustomed to in the Houston market.”
###
Magellan Midstream Partners, L.P. (NYSE: MMP) is a publicly traded partnership that primarily transports, stores and distributes refined petroleum products and crude oil. Magellan owns the longest refined petroleum products pipeline system in the country, with access to nearly 50% of the nation’s refining capacity, and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel and crude oil. More information is available at www.magellanlp.com.
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Our services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and export and import terminals; crude oil gathering, transportation, storage and export and import terminals; petrochemical and refined products transportation, storage, export and import terminals and related services; and a marine transportation business that operates primarily on the United States inland and Intracoastal Waterway systems. The partnership’s assets include approximately 50,000 miles of pipelines; 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 Bcf of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner, as well as Magellan and ICE expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s, Magellan’s and ICE’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise, Magellan and ICE do not intend to update or revise their respective forward-looking statements, whether as a result of new information, future events or otherwise.
ICE- CORP
Source: Intercontinental Exchange
Magellan Contacts
Paula Farrell,
Investor Relations
(918) 574-7650
This email address is being protected from spambots. You need JavaScript enabled to view it.
Bruce Heine
Media Relations
(918) 574-7010
This email address is being protected from spambots. You need JavaScript enabled to view it.
Enterprise Contacts
Randy Burkhalter
Investor Relations
(713) 381-6812 or (866) 230-0745
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey
Media Relations
(713) 381-3635
This email address is being protected from spambots. You need JavaScript enabled to view it.
ICE Contacts
Mary Caroline O’Neal
Investor Relations
(770) 738-2151
This email address is being protected from spambots. You need JavaScript enabled to view it.
Rebecca Mitchell
Media Relations
+44 7951 057 351
This email address is being protected from spambots. You need JavaScript enabled to view it.
ComEd urges customers to stay safe and report downed wires
CHICAGO--(BUSINESS WIRE)--ComEd crews have restored power to more than 45,000 customers throughout its service area after storms with high winds and tornado moved through the South suburbs, Southwest suburbs and Chicago on Sunday night into early Monday morning. The storm disrupted service to more than 61,000 customers. As of 9 a.m. Monday, June 21, approximately 16,000 customers remain without service, including customers in hard-hit Bolingbrook, Romeoville, Woodridge, Burr Ridge, Darien and Chicago.
ComEd crews are working around the clock to get remaining customers restored quickly and safely.
ComEd prioritizes attention on repairs that will bring back the greatest number of customers, and focuses on critical services, such as law enforcement, fire departments, hospitals and senior centers. Crews then move to restoration of individual outages.
ComEd offers the following tips and information for customers to stay safe following severe weather:
Customers are encouraged to contact ComEd immediately if they are experiencing a power outage or have a safety concern. Customers can sign up for Outage Alerts at ComEd.com/Alerts or text OUT to 26633 to report their outage and receive restoration information about when their power may be restored.
ComEd also offers a mobile app for iPhone® and Android™® smart phones that gives customers the ability to report power outages and manage their accounts. In addition, customers can report outages through ComEd’s Facebook and Twitter pages, or by calling 1-800 EDISON-1 (1-800-334-7661). Spanish-speaking customers should call 1-800-95-LUCES (1-800-955-8237).
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
Golden Pass LNG Export; Cherry Point Renewable Diesel Optimization
LOUISVILLE, Ky.--(BUSINESS WIRE)--$SYPR--Sypris Technologies, Inc., a subsidiary of Sypris Solutions, Inc. (Nasdaq/GM: SYPR), announced today that it has recently received orders for specialty high-pressure closures for use in two large projects, the Golden Pass LNG Export project and the Cherry Point Refinery Renewable Diesel Optimization project. Shipments under these awards are expected to be completed during 2021. Terms of the orders were not disclosed.
The $10 billion Golden Pass LNG Export project will add natural gas liquefaction and export capabilities to an existing terminal in Sabine Pass, Texas, according to the web site. The new facility will utilize the existing state-of-the-art tanks, berths and pipeline infrastructure. In addition, new facilities for natural gas pre-treatment and liquefaction will also be constructed. The project is expected to be operational in 2024.
The project will have an estimated send out capacity of 16 million tons of liquefied natural gas per year, which is equivalent to approximately two billion standard cubic feet of natural gas per day. The Tube Turns® D-bolt closure has been chosen for filtration systems protecting three new compressor stations included in the Golden Pass LNG Export project. These closures will be up to 56” in diameter, weigh up to 8 tons each and will be rated to a pressure of 1,480 psi.
The Cherry Point Refinery is the first and only refinery in the Pacific Northwest capable of manufacturing diesel fuel from biomass-based feedstocks alongside conventional feedstocks to produce ultra-low-sulfur diesel unit, according to news sources. The refinery sits on 3,300 acres and currently processes about 230,000 barrels of crude oil each day from the Alaska North Slope, which makes it the largest refinery in the state of Washington and the third-largest refinery on the West Coast.
The renewable diesel project reflects Cherry Point’s broader commitment to provide the energy people need while doing its part to promote a lower-carbon economy according to news sources. The Tube Turns® Tool-less® closure has been chosen for filtration systems to upgrade the Cherry Point Refinery. These closures will be 60” in diameter, weigh approximately 4.3 tons each and will be weld-overlaid with 316 stainless steel to prevent corrosion.
Brett Keener, General Manager of Sypris Technologies, commented, "Sypris continues to be a leader in supplying high-pressure specialty closures to support major energy projects around the world. By leveraging our extensive engineering design and manufacturing expertise, we believe we are uniquely qualified to support these types of demanding requirements. We are proud to be a part of helping to meet our nation’s energy requirements while providing cleaner fuels and a reduced carbon footprint."
Sypris Technologies, Inc. is a global leader in the manufacture of custom engineered closures for high pressure critical applications serving the oil and gas pipeline infrastructure, hydrocarbon and petrochemical processing, and utility industry since 1927. Headquartered in Louisville, Kentucky, the Company's products are marketed worldwide, and can be found in projects ranging from the Trans Alaska Pipeline and Strategic Petroleum Reserve in the U.S. to the Tengiz Oil Field in Kazakhstan and the Bonny Island Gas Field in Nigeria. For more information about the Company, visit its Web site at www.sypris.com.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include our plans and expectations of future financial and operational performance. Such statements may relate to projections of the company’s revenue, earnings, and other financial and operational measures, our liquidity, our ability to mitigate or manage disruptions posed by the current coronavirus disease (“COVID-19”), and the impact of COVID-19 and economic conditions on our future operations, among other matters. In March 2020, the President of the United States declared the COVID-19 outbreak a national emergency. COVID-19 continues to spread throughout the United States and other countries across the world, and the duration and severity of its effects are currently unknown. The COVID-19 pandemic has resulted, and is likely to continue to result, in significant economic disruption and has and will likely adversely affect our business. The Company has continued to operate at each location and sought to remain compliant with government regulations imposed due to the COVID-19 pandemic.
Each forward-looking statement herein is subject to risks and uncertainties, as detailed in our most recent Form 10-K and Form 10-Q and other SEC filings. Briefly, we currently believe that such risks also include the following: the impact of COVID-19 and economic conditions on our future operations; possible public policy response to the pandemic, including legislation or restrictions that may impact our operations or supply chain; our failure to successfully complete final contract negotiations with regard to our announced contract “orders”, “wins” or “awards”; our failure to successfully win new business; the cost, quality, timeliness, efficiency and yield of our operations and capital investments, including the impact of tariffs, product recalls or related liabilities, employee training, working capital, production schedules, cycle times, scrap rates, injuries, wages, overtime costs, freight or expediting costs; dependence on, retention or recruitment of key employees and distribution of our human capital; disputes or litigation involving supplier, customer, employee, creditor, stockholder, product liability, warranty or environmental claims; our inability to develop new or improved products or new markets for our products; cost, quality and availability or lead times of raw materials such as steel, component parts, natural gas or utilities; our reliance on a few key customers, third party vendors and sub-suppliers; inventory valuation risks including excessive or obsolescent valuations or price erosions of raw materials or component parts on hand or other potential impairments, non-recoverability or write-offs of assets or deferred costs; failure to adequately insure or to identify product liability, environmental or other insurable risks; unanticipated or uninsured disasters, public health crises, losses or business risks; unanticipated or uninsured product liability claims; volatility of our customers’ forecasts, scheduling demands and production levels which negatively impact our operational capacity and our effectiveness to integrate new customers or suppliers, and in turn cause increases in our inventory and working capital levels; the costs of compliance with our auditing, regulatory or contractual obligations; labor relations; strikes; union negotiations; pension valuation, health care or other benefit costs; costs associated with environmental claims relating to properties previously owned; our inability to patent or otherwise protect our inventions or other intellectual property from potential competitors; adverse impacts of new technologies or other competitive pressures which increase our costs or erode our margins; changes in legal rights to operate, manage our work force or import and export as needed; inaccurate data about markets, customers or business conditions; risk related to owning our common stock including increased volatility; or unknown risks and uncertainties. We undertake no obligation to update our forward-looking statements, except as may be required by law.
Brett H. Keener
General Manager
(502) 774-6271
DUBLIN--(BUSINESS WIRE)--The "Switzerland Forecourt (Fuel, Car Wash, Convenience and Foodservice) Market to 2024" report has been added to ResearchAndMarkets.com's offering.
Switzerland Forecourt (Fuel, Car Wash, Convenience and Foodservice) Market to 2024 provides an executive-level overview of the Swiss Forecourt market, with category wise fuel, car wash, convenience and foodservice values along with fuel and car wash volumes up to 2019 actual year and forecasted up to 2024.
It delivers quantitative and qualitative insight into the forecourt market, based on in depth interviews with major fuel operators across Europe and proprietary data from the publisher's service station retail databases.
Breakdown of the Major fuel retailers shop, car wash, foodservice sites. Company Fuel Volumes, Values and Market Shares; Convenience sales and Foodservice sales; Car Wash sales. Major competitor analysis by country.
In 2019, the market leader in terms of fuel volumes was COOP followed by Migrol and Shell.
Scope
Reasons to Buy
Key Topics Covered:
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/1u7hzk
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Company will bring new green jobs to the Central Valley and Reduce Emissions
FRESNO, Calif.--(BUSINESS WIRE)--AgLand Renewables LLC (AgLand), the California subsidiary of Maryland-based CleanBay Renewables Inc., has been selected by the Governor’s Office of Business and Economic Development (GO-Biz) to receive $1.7 million in tax credit from the highly competitive California Competes Tax Credit (CCTC) program. With this support from the Governor’s office, AgLand can begin development of multiple bioconversion facilities in California that will directly support the state’s economic and environmental goals.
“Attracting a company like AgLand Renewables to California is exactly why the CalCompetes program was created,” said Dee Dee Myers, Senior Advisor to the Governor and Director of GO-Biz. “Not only will AgLand Renewables create well-paying jobs and economic opportunity across the Central Valley, but its solution will help us reach California’s greenhouse gas reduction goals while simultaneously supporting the Governor’s healthy soils initiative.”
AgLand will deploy at least two facilities in the Central Valley, home of California’s vast poultry production industry, over the next five years. The facilities will use anerobic digestion and fertilizer formation technology to sustainably convert poultry litter into renewable natural gas (RNG) and organic, controlled-release fertilizers. “These state-of-the-art facilities will help grow California’s leadership in climate smart agriculture, scale-up healthy soils, recycle important nutrients in agriculture, and invest hundreds of millions within hard hit agricultural communities,” said Karen Ross, Secretary of the California Department of Food and Agriculture.
“More than half a million tons of poultry litter is produced in the Central Valley each year, which, if uncontrolled, can release significant greenhouse gases and other emissions that negatively affect the local air, soil and water quality,” said Thomas Spangler, CleanBay Renewables Inc.’s Executive Chairman. “Our sustainable alternative use for poultry litter provides an immediate opportunity to enhance the economic value of the Central Valley’s agricultural industry while simultaneously helping the state meet its low carbon fuel standards and emissions reduction goals.”
By converting more than 150,000 tons of chicken litter annually, each facility can generate more than 750,000 MMBtus of renewable natural gas, 100,000 tons of organic, controlled-release fertilizer, and an estimated 500,000 tons of CO2 equivalent emission abatement that will be available for purchase in carbon markets.
“The projects will provide a long-term, sustainable source of renewable transportation fuels and organic fertilizers that will provide a substantial reduction in climate pollutants and improve soil health in California,” said Donal Buckley, CleanBay Renewables Inc.’s CEO. “Further, our direct investment of over $1 billion will provide much needed economic benefits to the Central Valley, creating dozens of new well-paying full-time jobs and hundreds of indirect jobs through construction and supply-chain needs.”
The proposed site locations in Kings and Merced Counties, were identified with support from the GO-Biz Business Investment Services team. Both facilities are projected to be fully operational by 2024.
AgLand is exploring other measures to further reduce its carbon footprint, including co-located solar power fields and microgrid technologies as well as the production of alternative fuels such as green hydrogen.
About AgLand Renewables
AgLand Renewables LLC, a California subsidiary of CleanBay Renewables Inc., is an enviro-tech company focused on the sustainable management of waste through anaerobic digestion and nutrient recovery technologies which produce renewable natural gas and controlled-release organic fertilizer. AgLand’s parent, CleanBay Renewables is developing its first bioconversion facility in Maryland and is actively developing sites for future facilities on the Delmarva Peninsula, in the Southeastern United States and California. CleanBay’s powerful solution to reduce air, soil and water pollution is sustained by a robust economic model that provides businesses with an opportunity to offset their CO2 emissions, local farmers with an alternative use for their poultry litter, and a controlled-release fertilizer to increase food production and support healthy soils.
For more information, visit https://aglandrenewables.com and https://cleanbayrenewables.com
Andy Hallmark
Outreach Director
CleanBay Renewables
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Nostromo’s IceBrick™is shovel-ready and poised to play an important role in the transition to clean energy
TEL AVIV, Israel--(BUSINESS WIRE)--#CO2--Nostromo (https://www.nostromo.energy), a pioneering cold-energy storage company, is commercializing the world’s most advanced energy storage technology based on modular ice cells for commercial and industrial buildings. The technology harnesses the power of renewables to meet the growing demand for cooling driven by Global Warming, while reducing stress on the grid. On June 21st, the company completed a merger with the Tel Aviv Stock Exchange (TASE) listed company Somoto, raising $13.6 million in the process.
Over the last few years, we’ve witnessed the rapid growth and deployment of lithium-ion-based energy storage systems. This has sparked growing concern about the serious environmental consequences and safety issues these batteries pose. Now more than ever, there’s a need to embrace and invest in safe, environmentally friendly, and efficient storage solutions that support the integration of renewable energy.
Air conditioning and cooling accounts for up to 40 percent of the total peak demand, according to a study conducted by the World Energy Agency (EIA). By 2050, the global demand for electricity designated for cooling is expected to triple.
The Solution
Nostromo developed the most advanced cold energy storage system in the world. The system is based on encapsulated ice cells (IceBrick™) that allow modular installation in commercial buildings and factories. The modular structure of the cells is economical in space and volume, which allows for swift installation on roofs, in basements, or along walls. The system "charges" cold energy during hours when electricity demand is low or there is a surplus of renewable energy, and "discharges" the energy during peak consumption hours, relieving the grid from the high air conditioning electricity demands.
Nostromo is an ideal solution for data centers, office buildings, hotels, shopping centers, hospitals, factories, and other facilities that carry large electricity demands for air conditioning and cooling. Other benefits from shifting electricity demand during peak hours for air conditioning include the buildings’ ability to meet other energy demands, such as charging electric vehicles, without further investment in infrastructure. In addition, several Nostromo systems can scale up to multi-MWh capacity, forming a virtual power plant.
Nostromo's proprietary technology has gained significant traction over the last two years. In April, Nostromo announced a 20-year agreement with the prestigious Hilton Beverly Hills hotel to install a 1.5 MWh system (serving both the Hilton and the adjacent Waldorf Astoria). Nostromo also signed an agreement with Sandstone Properties for the construction of an 900 kWh system in a Los Angeles office building and a memorandum of understanding with Westfield, one of the biggest owners and operators of large retail centers in the U.S, to install systems at its sites.
Nostromo also has R&D projects with strategic players, such as energy giant Royal Dutch Shell, the Israeli Electric Company and partnerships with leading U.S. engineering companies. In February, Mr. Mayo A. Shattuck III, the Chairman of American energy giant Exelon, announced a $500,000 personal investment in Nostromo. In July, Nostromo will be cutting the ribbon on it’s latest project, a 600 kWh system installed on the roof of advanced medical device manufacturer, Medinol. In addition to electricity cost savings, the system provides critical backup to Medinol’s clean rooms cooling system.
"To accelerate the transition to renewable energy, energy storage solutions are needed at an immense scale. Nostromo's energy storage technology offers an innovative, highly-efficient, clean, sustainable, scalable and safe alternative to lithium-based storage," says Yoram Ashery, CEO of Nostromo, "Our technology provides a solution to the energy requirements of air conditioning systems, which are the largest consumer on the grid."
“Nostromo's transition from a private to a public company is an important milestone that will allow us to accelerate our market penetration and pursue widespread implementation of our technology,” adds Yaron Ben Nun, Nostromo’s Founder, CTO and President, “We strongly believe that our solution will help in the fight against Global Warming, which is everyone’s concern, therefore inviting the public investors to take part in our journey seems like a natural evolution as a company.”
"Nostromo provides a solution to one of the most inconceivable problems of the 21st century,” says Ilana Shoshan, General Manager of the company's U.S. West Coast operations. “In California, for example, utilities are sometimes forced to initiate rolling black outs, impacting hundreds of thousands of homes and businesses during peak summer hours. Wide deployment of Nostromo systems in commercial and industrial buildings can help prevent the phenomenon.”
About Nostromo
Founded in 2017, Nostromo (a public technology company listed on the Tel Aviv Stock Exchange) offers a clean, safe, and highly efficient energy storage solution, the Nostromo IceBrick™, to store energy during off-peak or surplus solar hours and use it for cooling during peak hours, and can be deployed at scale. For more information, visit https://www.nostromo.energy
Media Contact
Lea Berdugo
ReBlonde for Nostromo
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today released the final election results of the 2021 Annual Meeting of Shareholders as confirmed by the independent election inspector.
The ExxonMobil board of directors will consist of Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Gregory Goff, Kaisa Hietala, Joseph Hooley, Steve Kandarian, Alexander Karsner, Jeffrey Ubben and Darren Woods. Douglas Oberhelman, Sam Palmisano and Wan Zulkiflee will be departing the board.
“Our board looks forward to continuing to work in the best interest of all shareholders,” said Darren Woods, chairman and chief executive officer. “We welcome our new members and thank our three departing directors for their valuable contributions to the company. Doug and Sam provided guidance and shared their experience with the board over many years. While his time with us was brief, we thank Wan Zul and appreciate his input as we positioned the company to increase shareholder value and participate in the energy transition.”
Additional information regarding the results of the annual meeting will be available in a Form 8-K/A filed with the Securities and Exchange Commission and on ExxonMobil’s investor relations website.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
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GUANGZHOU, China--(BUSINESS WIRE)--XPeng Inc. (“XPeng” or the “Company”, NYSE: XPEV), a leading Chinese smart electric vehicle (“Smart EV”) company, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission (the "SEC") on April 16, 2021. The annual report, which contains the Company’s audited consolidate statements, can be accessed on the SEC's website at http://www.sec.gov and on the Company’s investor relations website at http://ir.xiaopeng.com.
The Company will provide a hard copy of its annual report, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to This email address is being protected from spambots. You need JavaScript enabled to view it. or Investor Relations Department at XPeng Inc., No. 8 Songgang Road, Changxing Street, Cencun, Tianhe District, Guangzhou, Guangdong 510640, People’s Republic of China.
About XPeng Inc.
XPeng Inc. is a leading Chinese smart electric vehicle company that designs, develops, manufactures, and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers in China. Its mission is to drive Smart EV transformation with technology and data, shaping the mobility experience of the future. In order to optimize its customers’ mobility experience, XPeng develops in-house its full-stack autonomous driving technology and in-car intelligent operating system, as well as core vehicle systems including powertrain and the electrification/electronic architecture. XPeng is headquartered in Guangzhou, China, with offices in Beijing, Shanghai, Silicon Valley, and San Diego in the U.S. The Company’s Smart EVs are manufactured at plants in Zhaoqing and Zhengzhou, located in Guangdong and Henan provinces, respectively. For more information, please visit https://en.xiaopeng.com.
For Investor Enquiries:
IR Department
XPeng Inc.
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Jenny Cai
The Piacente Group
Tel: +1-212-481-2050 or +86-10-6508-0677
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For Media Enquiries:
Marie Cheung
XPeng Inc.
Tel: +852-9750-5170 or +86-1550-7577-546
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