Remote customer engagement strategies primarily target customer-sited DER applications in the residential sector, but can be applied to commercial and industrial customers
BOULDER, Colo.--(BUSINESS WIRE)--#BehindtheMeter--A new report from Guidehouse Insights analyzes the acceleration of digital transformation for grid operators and their partners during the COVID-19 pandemic and provides remote engagement strategies to enroll customer-sited distributed energy resources (DER) going forward.
COVID-19 introduced fundamental shifts in DER-related communications from utilities to customers by eliminating workers on customer properties and leveraging devices already present. Emerging digital opportunities are expected to expand following the pandemic, and utilities and their partners should position themselves for a virtually engaged customer of the future. Click to tweet: According to a new report from @WeAreGHInsights, utilities should continue to leverage remote customer engagement strategies in a post-COVID-19 world to maintain strong customer relationships.
“In 2021, stakeholders understand that remote customer engagement, which inherently relies on virtual interaction and embraces digitization, will likely last well beyond the pandemic,” says Neil Strother, principal research analyst with Guidehouse Insights. “Opportunities for remote customer engagement primarily target residential customers and include revamped home energy reports, remote audits, and thermal mapping. These solutions are matched by developments, such as augmented reality, designed to remotely engage commercial and industrial customers.”
Where there is an absence of DER, remote customer engagement strategies can also catalyze the customer journey and demonstrate the benefits of relevant DER-related solutions from smart thermostats to fleet electrification and automated behind-the-meter (BTM) asset management, according to the report.
Going forward, Guidehouse Insights recommends that utilities embrace cost savings to drive increased revenue, that solutions vendors repurpose residential remote customer engagement for commercial and industrial customers, that program managers design a customer journey arch to maintain high engagement, that partners collaborate to customize with quality-controlled data, and that implementers tailor customer-sensitive messaging to customers’ current situation.
The report, Remote Engagement Strategies to Enroll Customer-Sited DER, analyzes the acceleration of grid operators’ and their partners’ digital transformation following the onset of the COVID-19 pandemic. The report assesses pivots in marketing and outreach language and the new opportunities brought to customers through remote engagement solutions. Drawing on examples from real-world solutions providers, the report looks at how applications developed as focus shifted to the residential customer segment and how they can benefit C&I customers as the workforce returns toward centralized work. The report closes with suggestions for successful continuity of RCE in a post COVID-19 world. An executive summary of the report is available for free download on the Guidehouse Insights website.
About Guidehouse Insights
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Insights can be found at www.guidehouseinsights.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services to the public and commercial markets with broad capabilities in management, technology, and risk consulting. We help clients address their toughest challenges and navigate significant regulatory pressures with a focus on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that prepare our clients for future growth and success. The company has more than 8,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit: www.guidehouse.com.
* The information contained in this press release concerning the report, Remote Engagement Strategies to Enroll Customer-Sited DER, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
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MUNICH--(BUSINESS WIRE)--Siemens Energy will supply a reactive power compensation plant to the Los Angeles Department of Water and Power (LADWP). The plant will enhance operations at Barren Ridge Switching Station, LADWP’s renewable energy transmission facility in Kern County, California, about 80 miles north of Los Angeles. The plant will be based on Siemens Energy’s SVC PLUS technology that combines the benefits of static synchronous compensation (STATCOM) and modular multilevel converter (MMC) technology. The fast response of the STATCOM stabilizes the transmission system when the amount of power generated by solar, wind or hydro generation changes. The MMC technology allows the implementation of this complex technology in a very small footprint compared to traditional solutions. The new ±200 megavolt ampere (MVAr) SVC PLUS will provide the necessary voltage support needed in the area, where LADWP has significantly increased renewable energy generation.”
“Constantly increasing the share of CO2-free, climate-neutral electricity in our grid is one of our most important challenges,” said Reiko Kerr, Senior Assistant General Manager, Power System Engineering and Technical Services at LADWP. “In addition to building new wind and solar power plants, targeted investments in our electricity transmission infrastructure are crucial to achieving our renewable energy goals. Barren Ridge will provide long-term grid stability for our customers while supporting increasing amounts of renewable energy in our portfolio.”
“The great advantage of our SVC PLUS technology is that it is even faster than conventional solutions,” said Beatrix Natter, Executive Vice President Transmission at Siemens Energy. “In addition, it offers high flexibility regarding design and layout of converters and substations. Its modularity and low number of system components also reduce commissioning time compared to complex conventional SVC systems. This enables a short execution time of only 16 months for the Barren Ridge project so that the reactive power compensation is ready in time to prevent voltage collapses or even blackouts.”
The heart of the SVC PLUS will be two three-phase step-down transformers with 230-kilovolt (kV) and 200-MVA capacity and an industrial-class insulated gate bipolar transistors (IGBT) based converter. This important installation supports LADWP’s ongoing network enhancement by the application of robust technology that continues to prove its value in more than 120 installations worldwide. In addition to the plant, Siemens Energy will provide extended warranty that will maximize availability and operating flexibility for LADWP. Commissioning of the plant is planned for summer 2022 after an execution time of only 16 months.
This press release and a press picture are available at www.siemens-energy.com/press
For further information on Siemens Energy Transmission, please see https://www.siemens-energy.com/global/en/offerings/power-transmission.html
For further information on Siemens Energy SVC PLUS , please see https://www.siemens-energy.com/global/en/offerings/power-transmission/facts/portfolio/svcplus.html
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
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A new immersive video collaboration between Project Drawdown, Trane Technologies, Intuit, and Chris Kohlhardt brings to life real-world action for solving climate change
SWORDS, Ireland--(BUSINESS WIRE)--Climate Solutions 101 is a shift to action for a brighter climate future. The multimedia education experience on climate change is now live, thanks to collaboration between Project Drawdown and founding sponsors—global climate innovator Trane Technologies (NYSE: TT); financial software innovation company Intuit (NYSE: INTU); and entrepreneur and philanthropist Chris Kohlhardt.
The immersive six-part video experience details how solutions on hand today can make meaningful and equitable global change, and get us to the point of ‘drawdown,’ the point in the future when levels of greenhouse gases in the atmosphere stop climbing and start to steadily decline.
“Global challenges require hearts, minds, and hands to dig-in on meaningful change,” said Dr. Elizabeth Bagley, Director of Drawdown Learn at Project Drawdown. “Climate Solutions 101 was designed to fill a need for highly-produced, science-based, educational content that moves people from knowledge to action. Taken together, the Drawdown climate solutions offer the world a powerful vision for a climate-safe future. Thanks to the generous support of our mission-aligned partners, Project Drawdown is committed to sharing—at no cost—the science and inspiration behind the safest, fastest, and most equitable climate solutions available today.”
Climate Solutions 101 presents the latest need-to-know science, along with fascinating insights from global leaders in climate policy, research, investment, and beyond. The video series is open-access and free to anyone who wants to learn how human action today can reverse the climate crisis for generations to come.
Climate Education Sponsorship
“Climate Solutions 101 is a unique approach that expands access to climate knowledge and shows in vivid and compelling detail the steps we can take today to mitigate climate impacts,” said Paul Camuti, chief technology and strategy officer for Trane Technologies. “We’re extremely pleased to partner with Project Drawdown and the other sponsors, as well as work with Project Drawdown Labs to challenge the status quo and identify and scale climate solutions. The partnership fully aligns with our view that collaboration and science-based approaches are vital to taking the right actions for a sustainable future.”
“We know today that simply trying to do less harm isn’t enough—we have to start moving toward solutions that reverse the impacts of climate change,” said Sean Kinghorn, Intuit’s global sustainability leader. “At Intuit, partners like Project Drawdown are helping us identify climate solutions and build the tools needed to create actionable behavior change. More than ever, it’s going to take all of us to look beyond our own impact to create the collective positive change required to save our planet.”
Climate Solutions 101 viewers can listen to leading climate scientists and thinkers detail a vision for the climate road ahead, including weather expert Marshall Shepherd, paleoclimatologist Lisa Graumlich, food and agriculture scientist Navin Ramankutty, transportation specialist Ryan Allard, climatology scientist Marcos Costa, global change pioneer Jessica Hellmann, climate and environmental politics expert Leah Stokes, angel investor and energy advocate Ramez Naam, renowned venture capitalist Ibrahim AlHusseini, and air quality scientist Tracey Holloway.
About Project Drawdown
Project Drawdown is the world’s leading resource for climate solutions. Our mission is to help the world reach “Drawdown”— the point in the future when levels of greenhouse gases in the atmosphere stop climbing and start to steadily decline, thereby stopping catastrophic climate change—as quickly, safely, and equitably as possible. To learn more, visit drawdown.org.
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Learn more at tranetechnologies.com.
About Intuit
Intuit is a global technology platform that helps our customers and communities overcome their most important financial challenges. Serving millions of customers worldwide with TurboTax, QuickBooks, Credit Karma and Mint, we believe that everyone should have the opportunity to prosper and we work tirelessly to find new, innovative ways to deliver on this belief. Please visit us for the latest news and information about Intuit and its brands and find us on social.
About Chris Kohlhardt
Chris Kohlhardt is an engineer, investor, and philanthropist who is focused on being a part of efforts to solve the climate crisis.
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SIMI VALLEY, Calif.--(BUSINESS WIRE)--$AVAV--AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced the company has earned International Organization for Standardization (ISO) 14001 certification for its Environmental Management System.
The international ISO 14001:2015 Environmental Management standard provides an environmental management system framework for companies to help identify, monitor and control their environmental impact, such as resource consumption and waste production.
“AeroVironment’s purpose is to secure lives and advance sustainability through transformative innovation. Earning ISO 14001 certification demonstrates our commitment to advancing sustainable practices,’’ said Kenneth Karklin, AeroVironment senior vice president and chief operating officer. “By developing a formal Environmental Management System that is ISO 14001 certified, we are able to actively measure and closely manage the overall environmental impact of company decisions, placing a greater focus on AeroVironment’s environmental footprint.”
“With a 50-year history of doing more with much less, AeroVironment offers a portfolio of battery-powered small unmanned aircraft and tactical missile systems designed for rapid deployment and small logistical footprint. Employed directly by frontline troops, AeroVironment’s solutions avoid the greenhouse gas emissions produced by conventional internal combustion aircraft, rocket-powered missiles and ground vehicles while delivering the situational awareness and precision that helps their operators Proceed with Certainty,” Mr. Karklin added.
AeroVironment’s ISO 14001:2015 certificate (CERT-013516) took effect February 9, 2021 after a multi-month audit with SAI Global Assurance, a leading global management systems certification body. The certification addresses all of the company’s operations in Ventura County, California as well as its operations in Huntsville, Alabama, Wilmington, Massachusetts and Lawrence, Kansas. The certification complements the AS9100 Revision D (2016), Quality Management System Certification AeroVironment received in 2018.
In line with its founding principles, AeroVironment has become one of the largest electric UAS manufacturers, delivering a suite of zero-emission, energy efficient, battery-powered UAS and tactical missile systems as well as developing stratospheric, solar powered high-altitude pseudo-satellites (HAPS) for global connectivity. These innovative vehicles are designed to deliver valuable new capabilities to their users while also reducing their logistical footprint and environmental impact.
To learn more about AeroVironment’s Environmental Management System and Corporate Social Responsibility program, visit https://www.avinc.com/about/corporate-social-responsibility.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in unmanned aircraft systems and tactical missile systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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New opportunities require new working arrangements
TRUMBULL, Conn.--(BUSINESS WIRE)--#Questionmark--A forthcoming economic boom will create growth opportunities for firms. Questionmark, the online assessment provider, is urging employers to ask three crucial questions to ensure they have the right post-pandemic working arrangements in place to take advantage of the surge.
Thanks to a combination of government stimulus and “pent up” consumer spending, economists predict that $4 trillion will be released into the United States (US) economy as restrictions are lifted.1 Strong growth is also forecast across the United Kingdom (UK),2 the Eurozone,3 and Australia.4
New growth opportunities will require new working arrangements. For much of the last year, asking employees to work from home was the only option. But as governments look set to ease social distancing restrictions, employers have decisions to make.
For some, a year of productive remote working has proven that expensive offices are a thing of the past. Others believe that their productivity will be boosted when teams are working physically together at least some of the time.
Each employer must ensure they create the right working environment that boosts productivity, drives engagement and retains the best staff.
To accomplish this, Questionmark is encouraging employers to ask and answer three crucial questions:
1. Which skills are going to be important for future success?
2. Which of these skills and associated tasks can be effectively executed from home?
3. In what situations, and with what tasks, will individuals or teams perform better in offices or workspaces?
Lars Pedersen, CEO of Questionmark, said: “Change is coming. A consumer boom will have an impact across the entire economy. There will be new opportunities for firms to grasp. Making the right decision on working arrangements will be crucial.
“Each company will have different working arrangement requirements. Employers must ensure that they are making the best decision based on reliable and relevant information.”
Measuring staff skills with online assessments can indicate which tasks can be executed effectively from home and which can’t. This information can help employers make the best decision and explain their decision to the workforce.
For more information download the full report: “Managing a post-pandemic workforce: creating productive and informed working arrangements”.
The report forms part of the “Questionmark Viewpoint” series which explores the challenges that Questionmark customers face, and how Questionmark helps address them.
Ends
Notes to editors
About Questionmark
Questionmark unlocks performance through reliable and secure online assessments.
Questionmark provides a secure enterprise-grade assessment platform and professional services to leading organizations around the world, delivered with care and unequalled expertise. Its full-service online assessment tool and professional services help customers to improve their performance and meet their compliance requirements. Questionmark enables organizations to unlock their potential by delivering assessments which are valid, reliable, fair and defensible.
Questionmark offers secure powerful integration with other LMS, LRS and proctoring services making it easy to bring everything together in one place. Questionmark's cloud-based assessment management platform offers rapid deployment, scalability for high-volume test delivery, 24/7 support, and the peace-of-mind of secure, audited U.S., Australian and European-based data centers.
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2 https://home.kpmg/uk/en/home/insights/2018/09/uk-economic-outlook.html
4 https://www.reuters.com/article/us-australia-economy-poll-idUSKBN29Q07B
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WASHINGTON--(BUSINESS WIRE)--#COVID19--Xlear has filed a Pre-Emergency Use Authorization (Pre-EUA) Request with the U.S. Food and Drug Administration (FDA) seeking approval to make claims that the nasal spray is approved for use in preventing SARS-CoV-2 (COVID-19) transmission and infection. The Pre-EUA is a first step in seeking formal authorization of Xlear Nasal Spray as tool to help in combatting COVID-19.
Xlear previously filed a pre-EUA seeking approval for use of the nasal spray as a medical device in combatting COVID-19. However, because the FDA determined that Xlear “works against the virus,” the FDA told Xlear it would need to be considered as a drug or combination product EUA.
“Seeing that the FDA says Xlear works against the virus, we have decided to seek EUA approval as a drug,” said Nathan Jones, Xlear’s CEO.
Xlear’s Pre-EUA Request is based on recent studies showing the nasal spray is:
Xlear is currently sold in over 50,000 pharmacies, grocery stores, and online as a nasal spray. “Xlear doesn’t require the EUA to be sold and used—we only need an EUA to be able to inform people about the benefits of using Xlear to protect themselves from COVID-19. It’s insane. Without the EUA, the Federal Trade Commission won’t let us simply inform people about new, published, independent scientific studies,” Jones added.
“We hope to move forward quickly with FDA to address gaps in current prevention and treatment strategies against SARS-CoV-2. People should be using Xlear as part of a layered defense to prevent getting COVID-19. If everyone used Xlear, in addition to taking other steps recommended by public health officials, we believe we could help the nation defeat COVID-19 faster,” Jones added.
More information on Xlear: https://xlear.com/
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Partnership to support rollout of ELMS AIR connectivity suite and deliver advanced, turnkey telematics solutions to fleet managers
TROY, Mich.--(BUSINESS WIRE)--Electric Last Mile, Inc. (“ELMS”), a commercial electric vehicle company focused on last-mile delivery solutions, and Geotab Inc. (“Geotab”), a global leader in IoT and connected transportation, today announced their partnership to deliver a factory-installed connectivity solution that will equip ELMS customers with the data they need to help manage and optimize their vehicles.
As part of the collaboration, ELMS plans to integrate Geotab’s GO9+ telematics solution into its Urban Delivery vehicle, which is anticipated to be the first Class 1 commercial electric vehicle (“EV”) available in the U.S. market. Ideal for fleet managers, the factory-installed addition of Geotab’s telematics offering will help provide ELMS customers with centralized access to their connected vehicle data via the MyGeotab platform. Specifically, Geotab’s GO9+ device will help enable high-speed connectivity and allow fleet managers access to ELMS AIR, ELMS’ in-development connectivity and data analytics suite, which is anticipated to provide fleets with full visibility of their Urban Delivery vehicles in near real time. The GO9+ is also expected to allow users to turn each Urban Delivery vehicle into a Wi-Fi hotspot where possible and when needed.
Powered by Geotab, ELMS AIR will provide fleet managers with a single view of their entire fleet to help better analyze fleet-generated data, from GPS tracking, road speed and charging status to battery state of charge and more, which can be used to help reduce fleet costs, increase productivity and efficiency, improve safety and strengthen compliance.
Geotab and ELMS are further collaborating on technology that is focused on enabling the GO9+ to assist fleet managers with access to the ELMS AIR over-the-air (“OTA”) technology solution, aimed at one day providing software updates and upgrades to fleets via a secured cellular connection intended to help maximize vehicle uptime and ensure that vehicle software is up to date. The Urban Delivery is expected to be the first Class 1 OTA-enabled EV in the U.S. Factory-installation of Geotab’s GO9+ device is expected to begin at the start of Urban Delivery vehicle production.
“ELMS is not just a vehicle company but a technology and solutions company,” said ELMS CTO, Kev Adjemian. “This exciting collaboration with Geotab is a part of ELMS’ commitment to delivering powerful telematics, data and real-time visibility solutions that fleet managers need to help improve their operating efficiency and reduce costs. By integrating Geotab’s solutions, we will work closely together to eventually provide Urban Delivery customers with in-house OTA technology, which we believe will help to significantly reduce service downtime and maximize vehicle efficiency.”
“With sustainability at the forefront of Geotab's innovations, we are excited to collaborate with innovative OEM partners like ELMS to equip customers with the technology needed to help achieve their fleet electrification goals,” said Rob Minton, Associate Vice President, Connected Car Business Development at Geotab. “By combining the power of Geotab's telematics technology with ELMS, this partnership will equip Urban Delivery customers with a turnkey connectivity solution that can help maximize electric vehicle efficiency, reduce downtime and increase productivity.”
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 (x) execute the transaction agreements for the Carveout Transaction (as defined below) that are in form and substance acceptable to Forum (at Forum’s sole discretion), (y) acquire a leasehold interest or fee simple title to the Indiana manufacturing facility or (z) secure key intellectual property rights related to its proposed business; (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 proposed business combination. The consummation of the business combination is subject to, among other conditions, (i) the execution and effectiveness of transaction agreements by ELMS with SF Motors, Inc. (d/b/a SERES) (“SERES”), including as contemplated by the term sheet entered into by ELMS and SERES, that are each in form and substance acceptable to Forum (at Forum’s sole discretion), (ii) the acquisition by ELMS of a leasehold interest or fee simple title to the Indiana manufacturing facility prior to 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 proposed business combination with ELMS, Forum filed a preliminary proxy statement with the U.S. Securities and Exchange Commission (“SEC”) and intends to file a definitive proxy statement with the SEC. Forum’s stockholders and other interested persons are advised to read the preliminary proxy statement and any amendments thereto and, when available, the definitive proxy statement, in connection with Forum’s solicitation of proxies for its special meeting of stockholders to be held to approve, among other things, the proposed business combination, because these documents contain important information about Forum, ELMS and the proposed business combination. When available, the definitive proxy statement for the proposed business combination will be mailed to stockholders of Forum as of a record date to be established for voting on the proposed business combination. Forum’s stockholders may also obtain a copy of the preliminary proxy statement and the definitive proxy statement, once available, 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 preliminary proxy statement, which was filed on February 16, 2021 with the SEC, and definitive proxy statement, when it is 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 preliminary proxy statement, which was filed on February 16, 2021 with the SEC, and definitive proxy statement, when it is filed with the SEC, in connection with the proposed business combination. These documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About Electric Last Mile, Inc.
ELMS is focused on redefining the last mile with efficient, customizable and sustainable solutions. ELMS’ first vehicle, the Urban Delivery, is anticipated to be the first Class 1 electric vehicle in the U.S. market. The company is headquartered in Troy, Michigan. For more information, please visit www.electriclastmile.com.
About Geotab Inc.
Geotab is advancing security, connecting commercial vehicles to the internet and providing web-based analytics to help customers better manage their fleets. Geotab’s open platform and Marketplace, offering hundreds of third-party solution options, allows both small and large businesses to automate operations by integrating vehicle data with their other data assets. As an IoT hub, the in-vehicle device provides additional functionality through IOX Add-Ons. Processing billions of data points a day, Geotab leverages data analytics and machine learning to help customers improve productivity, optimize fleets through the reduction of fuel consumption, enhance driver safety, and achieve strong compliance to regulatory changes. Geotab’s products are represented and sold worldwide through Authorized Geotab Resellers. To learn more, please visit www.geotab.com and follow us @GEOTAB and on LinkedIn.
For Electric Last Mile, Inc.
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For Geotab Inc.
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NORMAN, Okla.--(BUSINESS WIRE)--#energymarkets--PCI is pleased to announce its successful completion of the Type 2 Service Organization Controls (SOC) 1 Type II and Service Organization Controls 2 Type II Attestation issued under the American Institute of Certified Public Accounts (AICPA) and Statement on Standards for Attestation Engagements No. 18 (SSAE 18) for 2020.
After a thorough external audit, the SOC reports were prepared and issued by Grant Thornton LLP, one of the world’s leading independent audit, tax and advisory firms. For the evaluation period ending in October 2020, the audit results indicate that PCI’s controls as a cloud service provider are appropriately designed and effectively executed.
These reports provide assurance that PCI’s hosted solutions will meet its customers’ business needs on a best-in-class cloud platform. PCI works globally with a variety of customers including federal and state entities, and strives to comply with industry best practices to deliver secure and reliable software solutions.
PCI follows the National Institute of Standards and Technology Special Publication 800-53r4 (NIST SP 800-53 rev.4) security framework, which provides a catalog of security and privacy controls for U.S. information systems.
Additionally, PCI’s controls are designed to be effectively executed while the firm’s Business Continuity Plan is in effect. During the COVID-19 pandemic, PCI has managed physical access to limit the spread of infections and continues to effectively execute its controls, as evident in its 2020 SOC reports.
“Providing secure and reliable software services by following industry compliance standards for cyber and physical security is our top priority,” said Buck Feng, Chief Technology Officer at PCI.
About Power Costs, Inc. (PCI)
PCI is the leading provider of energy trading software, superior customer support, and value-added services for energy companies worldwide. Founded in 1992, PCI continues to refine and develop new solutions that meet the ever-evolving needs of its clients which include investor-owned, municipal, and cooperative utilities, renewable energy companies, energy marketers and traders, as well as independent power producers. PCI optimizes more than half the power generated in North America and more than 60% of Fortune 500 Utilities in the U.S. are PCI customers. To learn more, please visit www.powercosts.com.
Stuart Wright
Power Costs, Inc. (PCI)
303-917-3565
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SAN DIEGO--(BUSINESS WIRE)--$DFCO #DFCO--Dalrada Financial Corp. (OTCQB: DFCO, “Dalrada”) is pleased to announce to its shareholders and the public that, effective immediately, Mr. David Pickett has accepted the position of Dalrada’s Executive Vice President of Sales and Business Development.
Brian Bonar, CEO of Dalrada, states, “It is with great excitement for Dalrada that the Company is announcing Mr. Pickett’s new position as Executive Vice President of Sales and Business Development. His proven leadership in the position of Dalrada’s Vice President of Business Development since 2017 has provided the Company with this natural progression. Mr. Pickett is now overseeing all aspects of Dalrada’s global sales and business development efforts. His new role encompasses all of Dalrada’s portfolio companies in Engineering and Technology, Science and Health, as well as Clean Energy and Sustainability.”
Mr. Pickett’s professional background includes 20 years’ experience in executive relationship development and business growth. He has worked with the largest OEM and Fortune 500 companies in the world. Mr. Pickett’s vast knowledge base of Engineering and Manufacturing operational and supply chain requirements has proven to be a strategic asset for accelerating the growth of Dalrada Precision’s global manufacturing and Clean Energy initiatives through its portfolio company Likido Limited.
Mr. Pickett’s efforts with Dalrada’s Health initiatives resulted in a rapidly growing national and global presence for the Company’s alternative alcohol-free eco-friendly sanitizing, health products, and health services. Dalrada Health and its subsidiaries International Health Group (IHG), Pacific Stem Cells, LLC, and GlanHealth™ are positioned as leaders in their space.
Holding decades of consulting experience in information technology, Mr. Pickett’s affinity for business development benefits Dalrada’s Technology division. Prakat Solutions, Inc. (“Prakat”) serves businesses of all sizes from Fortune 50-ranked to small-to-medium businesses. Prakat tailors technology to meet today’s challenging requirements of secure finance, application development, and business continuity on a global scale.
For additional information, visit https://dalrada.com.
About Dalrada (DFCO)
Dalrada Financial Corp. (OTCQB: DFCO, “Dalrada”) solves real-world problems by producing innovation-focused and technologically centered solutions on a global level. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or call 1-858-283-1253.
Disclaimer
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Denise Mahaffey
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1-858-283-1253
OSLO, Norway--(BUSINESS WIRE)--#Energy--The Open Group, the global vendor neutral technology group that enables the achievement of business objectives through technology standards, today announced the OSDU Data Platform Mercury release. Developed by The Open Group OSDU Forum, the OSDU Data Platform is an Open Source, standards based and technology agnostic data platform for the energy industry. This platform stimulates innovation, industrializes data management, and reduces time to market for new solutions.
Cognite is a member of the OSDU Forum and has committed that our industrial data platform, Cognite Data Fusion (CDF), will integrate with the OSDU Data Platform and be aligned to the OSDU Technical Standard when it is published. Cognite has been involved in the OSDU Data Platform development from its early days, leading the Mercury R3 testing workstream where the role is to make sure that OSDU Data Platform implementations are consistent and interoperable across different platforms and cloud vendors to ensure interoperability.
Both Cognite and the OSDU Forum are committed to an open standards-based ecosystem and to reducing silos to help enable secure access to reliable, global subsurface data for better decision making to help transform the energy industry.
“Cognite was founded to liberate siloed data across industrial value chains and making it available for customers through open and standardized interfaces so that they can move from being limited by data access, to actually using the data to optimize and see results in real time,” said Dr. John Markus Lervik, CEO and co-founder of Cognite.
Cognite Data Fusion, Cognite’s industrial DataOps platform, accelerates implementation of OSDU Data Platform components from data ingestion to actual end user insights. Cognite Data Fusion APIs will be consistent with the standards defined by the forthcoming OSDU Technical Standard. In addition, Cognite Data Fusion provides added value by enabling full contextualization of the data definitions defined by the OSDU Forum within the full upstream data environment. Cognite has also developed functionality and products focusing on domain experts, enabling them to easily query data from OSDU Data Platform and use it for day to day decision making.
About Cognite
Cognite is a global industrial software-as-a-service (SaaS) company supporting the full-scale digital data driven transformation of heavy-asset industries around the world. Our core product, Cognite Data Fusion (CDF), is an industrial data operations and contextualization platform, putting raw data into real-world industrial context, enabling rapid application & solution creation at scale. CDF powers companies with contextualized OT/IT/ET data to develop solutions that increase safety, sustainability, efficiency, and drive revenue. Visit us at www.cognite.com and follow us on Twitter @CogniteData or at LinkedIn: https://www.linkedin.com/company/cognitedata
Michelle Holford
Global PR Lead, Cognite
+1 (512) 744-3420 (US)
+47 482 90 454 (Norway)
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Participates in OSDU™ Data Platform Mercury Release
HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), a world leader in digital transformation for the energy industry, announced today it is expanding its relationship with The Open Group OSDU™ Forum and participating in the OSDU Data Platform Mercury Release. The OSDU strategy of liberating data, enabling new workflows, and taking advantage of emerging digital technologies closely aligns with Quorum's industry vision and product strategy.
"We are pleased to have Quorum further its work with the OSDU Forum. Standards organizations, like The Open Group, need active collaboration from application vendors like Quorum to help solve the toughest industry challenges. As outlined in our press release today, the OSDU Data Platform can help the energy industry move innovation forward," said Johan Krebbers, VP, IT Innovation, Shell Lead of the OSDU Management Committee (the OSDU Forum).
Initiatives like the OSDU bolster Quorum's vision and the long-term value it delivers to customers. Quorum continues to advance the thought leadership and data workflows established by Aucerna and EnergyIQ, companies with historical ties to the OSDU, now part of Quorum. With an OSDU-compliant data platform powered by EnergyIQ, Quorum seeks to bring rapid innovation to the energy industry, made possible by integrating data and workflows into 360-degree views of operationalized plans.
To support the adoption of the Mercury Release, Quorum worked with Amazon AWS to create a staging platform to help OSDU members test their implementations of the new standard. In conjunction with cloud partners like Amazon AWS, Quorum is equipped to deliver a pre-populated, OSDU-compliant sample North Sea data set for OSDU members to test. More information can be found in this datasheet.
"This has been a fantastic opportunity for Quorum to help operators take their first steps with the OSDU Data Platform or as the next step in the evolution of an existing corporate data strategy,” said Steve Cooper, VP Data Strategy at Quorum Software. "As EnergyIQ and the OSDU have highly complementary principles, we look forward to working with the OSDU to foster modern data standards and facilitate an open ecosystem. Quorum is especially excited to help our customers use EnergyIQ as the central pivot point for a variety of digital initiatives."
As OSDU and digital technology standards continue to evolve, the industry has an opportunity to transition more efficiently into new operating paradigms and adapt more quickly when needed. To expand on the impact of digital strategies, Cooper is authoring a series on the digital journey of oil and gas operators. The first in the multi-paper series will be available soon on quorumsoftware.com.
About Quorum Software
Quorum Software is the world's largest provider of digital technology focused solely on business workflows that empower the next evolution of energy. From emerging companies to supermajors, throughout every region of the globe, customers rely on Quorum's proven innovation and unmatched global expertise to streamline business operations and make data-driven decisions that optimize profitability and growth. Our industry-leading solutions are transforming energy companies across the entire value chain, helping visionary leaders evolve their organizations into modern energy companies. Visit quorumsoftware.com.
About The Open Group OSDU™ Forum
The Open Group OSDU™ Forum enables the Energy industry to develop transformational technology to support the world's changing Energy needs. The OSDU Forum is available to all energy stakeholders including application developers, service operators, technology providers, software companies, academia, and more. More information on the OSDU Forum can be found here.
About The Open Group
The Open Group is a global consortium that enables the achievement of business objectives through technology standards. Our diverse membership of more than 800 organizations includes customers, systems and solutions suppliers, tool vendors, integrators, academics, and consultants across multiple industries. For more information, visit www.opengroup.org.
Media:
Jenna Billings
978 618 8424
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DUBLIN--(BUSINESS WIRE)--The "Global Water and Gas Valves Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
The publisher has been monitoring the water and gas valves market and it is poised to grow by $7.44 billion during 2021-2025, progressing at a CAGR of 5% during the forecast period.
The report on water and gas valves market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the expansion of oil terminals and increasing investments in water and wastewater treatment plants.
The water and gas valves market analysis include end-user segment and type segment, geographical landscapes. This study identifies the environmental regulations as one of the prime reasons driving the water and gas valves market growth during the next few years.
Companies Mentioned
The report on water and gas valves market covers the following areas:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.
Key Topics Covered:
1. Executive Summary
2. Market Landscape
3. Market Sizing
4. Five Forces Analysis
5. Market Segmentation by End-user
6. Market Segmentation by Type
7. Customer landscape
8. Geographic Landscape
9. Vendor Landscape
10. Vendor Analysis
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/abi7a4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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LONDON & PASADENA, Calif.--(BUSINESS WIRE)--International mining and metals company Rio Tinto and renewable energy technology company Heliogen today announced an agreement to explore the deployment of Heliogen’s breakthrough solar technology at Rio Tinto’s borates mine in Boron, California.
Under a Memorandum of Understanding, Heliogen will deploy its proprietary, artificial intelligence (AI)-powered technology at the Boron operation, where it will use heat from the sun to generate and store carbon-free energy to power the mine’s industrial processes. The two companies will begin detailed planning and securing government permits for the project, with the aim of starting operations from 2022. The companies will also use the Boron installation to begin exploring the potential for deployments of Heliogen’s technology at Rio Tinto’s other operations around the world to supply process heat, which accounted for 14 per cent of Scope 1 & 2 emissions from the Group’s managed operations in 2020.
Heliogen’s high-temperature solar technology is designed to cost-effectively replace fossil fuels with sunlight for a range of industrial processes, including those used in mining. At Rio Tinto’s Boron mine, the company’s proprietary technology will use AI to control a network of mirrors that concentrate sunlight to capture energy used to make steam. Heliogen’s system will also store the captured energy in the form of heat, allowing it to power nighttime operations and providing the same uninterrupted energy stream offered by legacy fuels.
The Boron operation mines and refines borates into products ranging from fertilizers to construction materials and is producing lithium carbonate from a demonstration plant. The site currently generates steam using a natural gas cogeneration plant and natural gas fired boilers. Heliogen’s installation will supplement these energy sources by generating up to 35,000 pounds per hour of steam to power operations, with the potential to reduce carbon emissions at the Boron site by around 7 per cent – equivalent to taking more than 5,000 cars off the road. Rio Tinto will also be assessing the potential for larger scale use of the Heliogen technology at Boron to reduce the site’s carbon footprint by up to 24 per cent.
Heliogen’s mission of slashing global carbon emissions by replacing fossil fuels with sunlight, as well as its focus on industrial sectors, made them an ideal partner for Rio Tinto, which is committed to decarbonizing its global operations.
Rio Tinto Chief Executive Jakob Stausholm said: “This partnership with Heliogen has the potential to significantly reduce our emissions at Boron by using this groundbreaking solar technology, and we look forward to exploring opportunities across our global portfolio.
“Addressing climate change effectively will require businesses, governments and society to work together through partnerships like this one, to explore innovative new solutions throughout the entire value chain. Our work with Heliogen is part of Rio Tinto’s commitment to spend approximately $1 billion on emissions reduction initiatives through to 2025 and our commitment to work with world-leading technology providers to achieve this goal.”
Heliogen CEO and Founder Bill Gross said: “Since its founding, Heliogen has been laser-focused on decarbonizing industrial sectors, including mining. As a result, this agreement with Rio Tinto is incredibly gratifying. We’re pleased to find a partner committed to cutting its contributions to climate change. We’re also pleased that Rio Tinto is exploring our technology to play an important role in helping reach its sustainability goals while dramatically reducing its energy costs. More broadly, we’re excited to take this important step as we pursue Heliogen’s goal of avoiding more than 1 gigaton of CO2 emissions – 5 per cent of the world’s annual total – from the global economy by turning sunlight into an industrial energy source.”
About Rio Tinto
Rio Tinto produces high-quality iron ore, copper, aluminium and minerals that have an essential role in enabling the low-carbon transition. We divested the last of our coal businesses in 2018 and no longer extract fossil fuels.
We have publicly acknowledged the reality of climate change for over two decades and have reduced our emissions footprint by over 30 per cent in the decade to 2020.
We have set 2030 targets to reduce our absolute emissions by 15% and our emissions intensity by 30% relative to our 2018 baseline. These targets are consistent with a 45% reduction in absolute emissions, relative to 2010 levels, and the Intergovernmental Panel on Climate Change (IPCC) pathways to 1.5°C. They are supported by our commitment to spend approximately $1 billion on emissions reduction initiatives over the first five years of the ten-year target period. In 2020 we set new Scope 3 emissions reduction goals to guide our partnership approach across our value chain.
Read more about Our Approach to Climate Change here: www.riotinto.com/invest/reports/climate-change-report
About Heliogen
Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in all sectors of the economy and empowering a sustainable future. The company’s proprietary technology cost-effectively delivers near 24/7 carbon-free energy in the form of heat, electricity, and green hydrogen fuel at scale for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996.
In November 2020, TIME included Heliogen’s HelioHeat technology on its Best Inventions of 2020 list. In April 2020, Fast Company selected Heliogen as a recipient of a 2020 World Changing Ideas Award for its technology. The company won the Energy category.
For more information about Heliogen, please visit Heliogen.com or @HeliogenInc.
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riotinto.com
Follow @RioTinto on Twitter
Rio Tinto Media Relations
Matthew Klar
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+1 514 608 4429
Heliogen Media Relations
Leo Traub, Antenna Group for Heliogen
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+ 1 646 883 3562
Rio Tinto plc
6 St James’s Square
London SW1Y 4AD
United Kingdom
T +44 20 7781 2000
Registered in England
No. 719885
Rio Tinto Limited
Level 7, 360 Collins Street
Melbourne 3000
Australia
T +61 3 9283 3333
Registered in Australia
ABN 96 004 458 404
Category: Boron
DUBLIN--(BUSINESS WIRE)--The "The Gas Industry in West Africa 2020" report has been added to ResearchAndMarkets.com's offering.
This report on the gas industry in West Africa focuses on the downstream activities of preparation, processing and production of gases in gasworks, and the production of gas by the carbonation of coal or by mixing manufactured gas with natural gas or petroleum or other gases and distribution via tankers and/or pipelines and gas cylinders.
It includes comprehensive information on the state and size of the sector in various countries, developments and corporate actions and influencing factors. There are profiles of 10 companies operating in the region including the major multinational players such as Royal Dutch Shell, Total and Exxon Mobil, and local players such as the Nigerian National Petroleum Corporation and the Ghana National Petroleum Corporation.
The Gas Industry in West Africa:
Nigeria is the leading gas producer in West Africa and has 99% of the region's total proved resources. The biggest recent find of natural gas in the region was on the maritime border of Senegal and Mauritania. The sector is dominated by international oil companies that include Royal Dutch Shell, Total, BP and Oryx Energies which are involved in upstream and downstream activities.
Survival Strategies:
The coronavirus outbreak and low oil prices forced operators to employ survival strategies such as halting non-essential activities, adopting forced leave or layoff strategies, slowing output, expanding storage capacities, refining sales and purchase agreements, and using hedging instruments to market their crude oil. Commentators said that coronavirus will necessitate a reassessment of project development plans, many of which carry operating costs incompatible with a low oil price. Some major players have reduced their investment in exploration and production projects by 25% in 2020.
Nigeria:
Despite its sizeable gas reserves, gas supply interruptions to thermal power stations are leading to power supply interruptions in Nigeria. The gas supply problem results from the inadequacy and inefficiency of investments in critical domestic gas infrastructure, exacerbated by years of regulatory uncertainty in the domestic gas market. Seven gas projects aimed at overcoming a looming gas supply gap have been fast tracked.
Key Topics Covered:
1. Introduction
2. Region Information
3. Description of the Industry
3.1. Industry Value Chain
3.2. Geographic Position
4. Size of the Industry
5. State of the Industry
5.1. Region
5.1.1. Trade
5.1.2. Corporate Actions
5.1.3. Regulations
5.2. Continental
5.3. International
6. Influencing Factors
6.1. Economic Environment
6.2. Input Costs
6.3. Technology, Research and Development (R&D) and Innovation
6.4. Labour
6.5. Gas for Electricity Generation
6.6. Environmental Concerns
7. Competition
7.1. Barriers to Entry
8. SWOT Analysis
9. Outlook
10. Industry Associations
11. References
11.1. Publications
11.2. Websites
Appendix
For more information about this report visit https://www.researchandmarkets.com/r/y7nzp1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SANTA MONICA, Calif.--(BUSINESS WIRE)--WasteFuel, a California based next-generation waste-to-fuels company that uses proven technologies to address the climate emergency and revolutionize mobility, announced today the promotion of Mario De La Ossa to President.
De La Ossa will oversee the team’s efforts to scale existing projects to achieve maximum impact from both an economic and impact perspective.
“Mario has been a key part of our success to date, and we are thrilled to have him assume this important leadership position,” said Trevor Neilson CEO of WasteFuel.
De La Ossa was previously Chief Commercial Officer at WasteFuel. He has extensive expertise in renewable fuels commercial optimization, the energy sector, and private markets. De La Ossa founded MDO Energy Insight, was a Managing Director at Silverpeak, and has held leadership positions with prominent oil supply and trading groups.
“As someone who spent the majority of my career working to supply hydrocarbons to the marketplace, I’m excited about the opportunity to extend that mandate using new technologies, partnerships and the rising global awareness to address the climate emergency. I’m honored to help Trevor, the WasteFuel team and all of our partners execute our mission to scale proven commercial solutions to remove carbon and mitigate climate change,” said Mario De La Ossa.
Prior to entering the private sector, De La Ossa served as a U.S. Naval Officer. He holds a BS degree from the U.S. Naval Academy and an MA from Norwich University.
Recently, WasteFuel announced that NetJets, the world’s largest private jet company, made a significant investment in the company and committed to purchase 100 million gallons of WasteFuel’s sustainable aviation fuel over the next decade.
About WasteFuel
WasteFuel is a next-generation waste-to-fuels company that uses proven technologies to convert municipal waste into renewable fuels. The company seeks to address the climate emergency and revolutionize mobility. For more information visit: www.wastefuel.com.
Abby Pick
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Grid software firm confirms that natural gas outages in the recent ERCOT energy crisis caused more issues than wind, but wind could have done more
BOULDER, Colo.--(BUSINESS WIRE)--Vibrant Clean Energy, LLC (a grid software firm) released today a self-funded white paper on Winter Storm Uri and its impacts on the ERCOT electricity grid. The white paper confirms that natural gas had the highest outage rate of all generation types; in excess of 25,000 MW at peak for several days. Despite recent reports that wind was a cause of issues, the VCE® report counters this. Rather, showing that wind actually over performed compared with expectations. There were a few time periods where wind underperformed, but that only lasted a few hours at a time.
The white paper indicates that with much better winterization the wind generation in ERCOT could have been substantially more. This could have created over $5 billion in revenue for wind generators and reduced the blackout total MW shed and duration for many customers.
The white paper goes on to show that high-voltage direct current (HVDC) connections to MISO and SPP could have provided between 500 and 650 GWh of additional wind generation across the blackout period. Simultaneously, the HVDC lines could have provided support to MISO and SPP earlier in the winter storm. These transmission lines would cost approximately $2.4 billion to construct and would allow ERCOT to combine forces with two large grids that could help diversify its portfolio.
Dr. Chris Clack, CEO of Vibrant Clean Energy, says that “the ERCOT crisis was weather induced, but with more planning for extreme events, something that will become more frequent in the future, the grid could have performed much better and interconnecting with other regions makes sense for numerous regions, not least the diversification of resources and demands.” He added that “winterization of wind, and other technologies, should become commonplace because the cost of doing so is almost always cheaper than the consequence of not.”
Finally, the white paper studied a hypothetical future high renewable ERCOT grid. It shows that the variability of wind and solar would still persist in the future, but the modeling added 40,000 MW of storage to the grid at the same time. That storage would have covered all of the blackout requirements with room to spare. Interconnections to other regions were also developed in the future scenario. These also assist with balancing the system across a wide range of extreme weather phenomena.
The white paper relied on publicly available data as much as possible. It also used the VCE created weather datasets to study the possibilities for interconnection, winterization and how deep the winter storm intruded on the ERCOT grid. VCE are releasing the data used in the report to aid transparency and further study by others.
Clack added “There is much more to study from the ERCOT energy crisis from this winter storm, and VCE is proud to contribute to the understanding of what happened. We hope that we can study this event and possible future possible events with collaborators to prevent such issues occurring again.”
About Vibrant Clean Energy: A nationally recognized energy grid modeling firm based in Boulder, Colorado, VCE® creates computer optimization software to study pathways for energy systems futures. It also performs studies using WIS:dom® to provide expertise in new arenas of electrification, decarbonization and variable resources. The mission of VCE is to help facilitate universal, sustainable, and cheap energy for everyone. www.VibrantCleanEnergy.com
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Detroit Automaker on Track to Bring First Luxury Pickup to Market in Late 2022
DETROIT--(BUSINESS WIRE)--Hercules Electric Vehicles is opening a $20 million Series A investment round managed by CMD Global Partners, a boutique investment bank.
James Breyer founded Hercules Electric Vehicles in 2018 with a vision to bring luxury eco-utility products to market, beginning with an electric pickup truck and followed by other exciting electric mobility products.
“This is an exciting period for Hercules, which is on a tremendous growth path for 2021,” said Breyer. “We’re making tremendous strides in our pursuit to create next-generation fun and efficient, high-performance mobility products.”
Hercules is developing an all-electric sport pickup truck, the Hercules Alpha, which will be available in late 2022. Hercules expects to demonstrate its first drivable architectural mule in April 2021.
The rugged luxury pickup will offer powertrain configurations with more than 1,000 hp through a torque-vectoring four-motor drive system. The motors provide independent torque control for amazing stability and ultimate high-performance. Hercules will offer a previously unapproached range of customer options for personalizing the Alpha, including fully customized interiors with numerous vegan and natural surfaces available, as well as a configurable Android-based digital experience system.
Hercules is commencing the Series A financing to support product development, add team members and is currently scouting locations for production of its components, including solid-state batteries. Breyer says the automaker intends to use existing industrial capacity wherever possible, paired with a modular design and assembly approach, enabling Hercules to bring eco-utility vehicles to market quickly and with a high level of personalization and craftsmanship.
Hercules Agreements
Hercules has recently completed an agreement with Prieto Battery, Inc., of Fort Collins, Colo., to co-develop and commercialize solid-state batteries for production in North America. Hercules and Prieto will have the first commercial samples of the solid-state batteries by the end of the year, with production starting in 2023.
In September 2020, Hercules announced an exclusive agreement with Toronto-based Worksport Ltd., which will supply solar tonneau covers for the Alpha, adding as much as 19 miles of range extension daily when parked in the sunlight.
About Hercules Electric Vehicles
Hercules Electric Vehicles, a division of Hercules Electric Mobility, was founded in 2018 by auto veteran James Breyer. Hercules Electric Vehicles is a Detroit, Mich.-based electric vehicle manufacturer that plans to bring to market customizable, luxury, high-performance electric pickups and SUVs starting with its 1,000 hp Alpha pickup in mid-2022. Hercules vehicles will offer integrated solar charging, long-range batteries and optional fuel-cell range extender options. https://herculesev.com/
Disclaimer: This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Media Contacts
Daniel Henry
Hercules Electric Vehicles
800-397-8267
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John Tews
The Millerschin Group
248-326-8317
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today that it intends to offer $1.5 billion aggregate principal amount of senior secured notes due September 2026 (the “Notes”) in a private offering, subject to market and other conditions.
Subject to certain exceptions and thresholds, the Notes will be guaranteed on a senior secured basis by each domestic subsidiary and foreign subsidiary that is a wholly-owned restricted subsidiary of the Company that is a guarantor under its existing senior secured notes. The Notes will be secured by substantially the same collateral as the Company’s existing first lien obligations under its existing senior secured notes.
The Company intends to use a portion of the net proceeds from this offering to fund the cash consideration for its previously announced acquisition of Golar LNG Partners L.P. and pay related fees and expenses. The Company intends to use any remaining proceeds from this offering for general corporate purposes, including making investments in developing projects. The Notes will be subject to a special mandatory redemption.
The Notes and the guarantees thereof will be offered in the United States to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to persons outside of the United States under Regulation S under the Securities Act. The Notes and the guarantees thereof will not be registered under the Securities Act or any state securities laws, and, unless so registered, may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.
Cautionary Language Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the consummation of the offering or the Company’s anticipated use of the net proceeds from the offering. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “targets,” “potential” or “continue” or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
IR:
Alan Andreini
(212) 798-6128
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Joshua Kane
(516) 268-7455
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Media:
Jake Suski
(516) 268-7403
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Mr. Foster Served as Interim CFO, Has Played Key Role in Helping Company Achieve Financial Stability
SAN FRANCISCO--(BUSINESS WIRE)--PG&E Corporation (NYSE: PCG) today announced the appointment of Chris Foster as Executive Vice President and Chief Financial Officer. Mr. Foster served as Vice President and Interim CFO for PG&E Corporation since September 2020 and has held various leadership roles at PG&E Corporation and its subsidiary Pacific Gas and Electric Company since 2011.
As CFO, Mr. Foster will oversee the audit, accounting, financial planning, investor relations, treasury and tax teams. Mr. Foster previously served as Vice President, Treasury and Investor Relations, as well as Director, Integrated Grid Planning and Innovation. In that role, he led efforts to advance R&D projects related to grid modernization and distributed energy resources, such as battery storage and electric vehicles. Previously, Mr. Foster served as Chief of Staff for PG&E Corporation’s Chairman, CEO and President, after joining the company in Washington, D.C., on the Federal Affairs team. His appointment was effective March 20.
“Chris knows PG&E inside and out and has demonstrated his invaluable expertise and guidance these past six months serving as interim CFO. He played an instrumental role in bringing us out of Chapter 11 as a stronger company positioned to achieve and maintain financial stability. I have the utmost trust in his ability to continue what he has started and to accelerate our efforts as we implement our business strategy going forward,” said PG&E Corporation Chief Executive Officer Patti Poppe.
“PG&E understands that a financially healthy energy company is essential to the success and prosperity of the communities we serve. We are focused on making the right investments and consistently delivering the performance that improves the triple bottom line of people, the planet, and California’s prosperity. I look forward to the progress we will continue to make together,” Mr. Foster said.
About PG&E Corporation
PG&E Corporation (NYSE: PCG) is the parent company of Pacific Gas and Electric Company, a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pgecorp.com.
Media Relations
415.973.5930
DALLAS--(BUSINESS WIRE)--Holly Energy Partners, L.P. (NYSE: HEP) (the "Partnership") plans to announce results for its quarter ending March 31, 2021 on May 4, 2021, before the opening of trading on the NYSE. The Partnership has scheduled a webcast conference on May 4, 2021 at 4:00 p.m. Eastern time to discuss financial results.
This webcast may be accessed at:
https://event.on24.com/wcc/r/3079844/D06584BC4076CF9EE6D14C88ED60E588
An audio archive of this webcast will be available using the above noted link through May 18, 2021.
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including HollyFrontier Corporation subsidiaries. The Partnership, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude gathering pipelines, tankage and terminals in Texas, New Mexico, Washington, Idaho, Oklahoma, Utah, Nevada, Wyoming and Kansas as well as refinery processing units in Kansas and Utah.
Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Investor Relations
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