HOUSTON--(BUSINESS WIRE)--VOC Energy Trust (the “Trust”) (NYSE Symbol — VOC) on March 16, 2021 filed its Annual Report on Form 10-K for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the “SEC”). The Annual Report on Form 10-K is available in the “SEC Filings” section of the Trust’s website at http://voc.q4web.com/home/default.aspx as well as on the SEC’s website at www.sec.gov.
Trust unitholders may also request a printed copy of the Annual Report on Form 10-K, which includes audited financial statements, free of charge by submitting a request in writing to:
VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
601 Travis Street, Floor 16, Houston, TX 77002
VOC Energy Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
ST. CATHARINES, Ontario--(BUSINESS WIRE)--Algoma Central Corporation (“Algoma” or the “Company”) (TSX:ALC), a leading provider of marine transportation services, announced today that the Toronto Stock Exchange (“TSX”) has accepted its notice of intention to proceed with the renewal of its normal course issuer bid (the “NCIB”).
Algoma’s Board of Directors believes that the market price of Algoma’s common shares (“Shares”), from time to time, may not reflect the inherent value of the Company and purchases of Shares pursuant to the NCIB may represent an appropriate and desirable use of funds. Any purchases made under the NCIB will be made by Algoma subject to favourable market conditions at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems.
Pursuant to the notice, during the twelve month period commencing March 19, 2021 and ending March 18, 2022, Algoma may purchase up to 1,890,047 of its Shares, representing approximately 5% of the 37,800,943 Shares that were issued and outstanding as of March 8, 2021. Under the NCIB, other than purchases made pursuant to block purchase exemptions, Algoma may purchase up to 3,163 Shares on the TSX during any trading day, which represents approximately 25% of the average daily trading volume of the Shares on the TSX for the past six calendar months, being 12,653 Shares. Any Shares purchased under the NCIB will be cancelled.
In conjunction the renewal of the NCIB, Algoma has entered into a new automatic share purchase plan (the “ASPP”) with a designated broker to allow for the purchase of its Shares under the NCIB at times when Algoma normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods.
Before the commencement of any particular internal trading black-out period, Algoma may, but is not required to, instruct its designated broker to make purchases of Shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Algoma prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, Shares will continue to be purchasable by Algoma at its discretion under its NCIB.
The ASPP will commence on the Company’s behalf during the quarterly blackout period of the Company for its first quarter 2021 results commencing March 31, 2021 and will terminate on the earliest of the date on which: (a) the maximum annual purchase limit under the NCIB has been reached; (b) Algoma terminates the ASPP in accordance with its terms; or (c) the NCIB expires. The ASPP constitutes an “automatic securities purchase plan” under applicable Canadian securities laws.
The Company’s previous NCIB commenced on March 19, 2020 and expires on March 18, 2021 (the “Previous NCIB”). Under the Previous NCIB, the Company obtained the approval of the TSX to purchase up to 1,890,457 Shares, which represented 5% of the 37,809,143 Shares issued and outstanding as at the close of business on March 4, 2020. The Company purchased on the open market and cancelled an aggregate of 1,200 Shares under the Previous NCIB at a weighted average purchase price of $7.99 per Share.
Although Algoma intends to purchase Shares under its NCIB there can be no assurances that any such purchases will be completed.
About Algoma Central Corporation
Algoma owns and operates the largest fleet of dry and liquid bulk carriers operating on the Great Lakes – St. Lawrence Waterway, including self-unloading dry-bulk carriers, gearless dry-bulk carriers, cement carriers and product tankers. Algoma also owns ocean self-unloading dry-bulk vessels operating in international markets and a 50% interest in NovaAlgoma, which owns and operates a diversified portfolio of dry-bulk fleets serving customers internationally.
Forward-looking Statements
Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to Algoma’s intentions with respect to the NCIB and purchases thereunder and the effects of repurchases under the bid. Forward-looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. Much of this information can be identified by looking for words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues” or similar words. Purchases made under the NCIB are not guaranteed and may be suspended at the discretion of Algoma’s Board of Directors. Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. Algoma assumes no obligation to revise or update forward looking statements to reflect new circumstances, except as required by law.
Gregg A. Ruhl
President & CEO
905-687-7890
Peter D. Winkley CPA, CA
Chief Financial Officer
905-687-7897
Or visit
www.algonet.com
AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (“REG”) (NASDAQ: REGI) today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock.
All of the shares are being offered by REG. In addition, REG expects to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
REG intends to use the net proceeds from this offering for working capital and other general corporate purposes, which may include the repayment of existing indebtedness and the funding of capital expenditures, including capital expenditures related to the expansion of the Geismar, Louisiana biorefinery. REG may also use a portion of the net proceeds from this offering to finance potential strategic transactions, although it currently has no binding commitments or agreements to complete any such transaction.
Credit Suisse, BofA Securities, and Guggenheim Securities are acting as joint book-running managers for the offering and Piper Sandler and Roth Capital Partners are acting as co-managers.
The shares will be issued pursuant to a shelf registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website. A copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained by contacting: Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and North America’s largest producer of biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the size of the proposed public offering, expectations with respect to granting the underwriters an option to purchase additional shares, and intentions with respect to the use of net proceeds from the proposed offering. These forward-looking statements are based on current expectations and assumptions, are subject to change, and actual results may differ materially. Factors that could cause actual results to differ materially include those relating to completion of the public offering on anticipated terms or at all, market conditions, satisfaction of conditions to closing of the proposed offering, REG’s ability to obtain additional or alternative financing to fund its capital expenditures, the fact that REG’s management will have broad discretion in the use of the net proceeds from the offering and other risks described in REG's annual report on Form 10-K for the year ended December 31, 2020 and from time to time in REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Todd Robinson
Interim Chief Financial Officer
Renewable Energy Group
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(515) 239-8048
The Daily Herald Business Ledger has named Fairbanks Energy Services a winner of their Annual Awards for Business Excellence in Innovation for the firm’s energy efficiency results and turnkey projects
HINGHAM, Mass. & ARLINGTON HEIGHTS, Ill.--(BUSINESS WIRE)--#AABEs--Fairbanks Energy Services, LLC, an energy efficiency firm and developer of comprehensive commercial and industrial turnkey projects, has been recognized by the Daily Herald Business Ledger as a winner in its 31st Annual Awards for Business Excellence (AABEs) in the Innovation in Business category. Focused on business and economic news in suburban Chicago, the Daily Herald Business Ledger acknowledges the achievements of Fairbanks Energy’s Chicago office for their innovation and accomplishments in the Midwest region.
The AABEs feature outstanding businesses regarding significant achievement, growth and community involvement in the Greater Chicago area. The award for Innovation in Business specifically recognizes organizations for their innovative services or solutions that have a profound and lasting positive impact on their industry and community.
Over the course of their years in business, Fairbanks Energy Services has lowered over 250 million kWh annually through their projects across the nation. In the Midwest region specifically, Fairbanks Energy is helping clients save over 48 million kWh annually, the economic equivalent to $5.5 million in energy cost savings. Fairbanks Energy’s efficiency solutions are custom designed for clients and include: LED lighting, HVAC/mechanical system retrofits, Building Management Systems and controls integrations, data center optimization and utility incentive qualification.
“The Daily Herald Business Ledger’s Annual Awards for Business Excellence (AABEs) highlight successful suburban businesses, organizations and non-profits,” said Andy Zielonka, Manager, Operations & Sales of the Daily Herald Business Ledger. “The companies that will be honored have shown a consistent record of financial success, an emphasis on workplace quality and support of the community at large through charitable or volunteer efforts. The thirty-four companies being recognized have faced unprecedented challenges this past year and have met those challenges with innovation and determination.”
"Identifying and building innovative, business-oriented approaches to energy efficiency is at the forefront of what we do," said Rob Golden, Vice President, Midwest Region of Fairbanks Energy Services. "True innovation is not just found in our designing and engineering of these projects, but also in helping businesses understand the significance of investing in energy savings solutions and empowering them to take action. We are honored that the Daily Herald Business Ledger has selected us as a recipient of their 2021 Innovation in Business Award."
Fairbanks Energy Services was recently acquired by Mantis Innovation Group, marking another stage of growth for the national efficiency solutions firm. Through this partnership, Fairbanks Energy has the opportunity to incorporate expanded service offerings including solar, roofing, facility asset management solutions, power procurement, demand response and other complementary tactics to improve overall building performance.
About Fairbanks Energy Services
Fairbanks Energy Services, a division of Mantis Innovation Group, is a national, full-service design/build energy efficiency firm dedicated to providing cost-effective retrofit solutions for our clients. Our comprehensive approach and deep knowledge of federal, state and municipal incentive programs allow us to identify, develop and install solutions that maximize savings while minimizing capital outlay. The team’s 30 years of experience in providing energy conservation services for commercial and industrial clients throughout the country enable Fairbanks Energy to create energy-saving solutions that are also aligned with the comfort, aesthetics and budgetary needs of clients and their employees.
Learn more at https://www.fairbanksenergy.com and https://mantisinnovation.com/.
Press:
Fairbanks Energy Services
Caroline Haley
Marketing Manager
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(978) 394-8670
MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc.'s (Nasdaq: MGEE) Jared Bushek, Vice President Finance, Chief Information Officer and Treasurer, and Tammy Johnson, Vice President Accounting and Controller, will be presenting at Siebert Williams Shank's Virtual West Coast Utilities Conference, on Wednesday, March 17th.
The presentation is available on MGE Energy's website at:
2021 Virtual West Coast Utilities Presentation
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.3 billion, and its 2020 revenues were approximately $539 million.
Investor relations contact
Ken Frassetto
Director - Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
TORONTO--(BUSINESS WIRE)--Explosive new environmental documentary, “Bright Green Lies” Trailer: www.brightgreenlies.com will make its worldwide debut to audiences on Earth Day, April 22nd, 2021. The film premiere will be followed by a live conversation and Q&A with filmmaker Julia Barnes and the authors of the book, Max Wilbert, Derrick Jensen and Lierre Keith.
The film, directed by award-winning filmmaker Julia Barnes, dismantles the illusion of Green Technology in breath-taking, comprehensive detail. From the proposed benefits of solar panels and wind turbines, to green consumerism and electric cars, the film takes a bold peak behind the green curtain. In doing so, it reveals the extent of the lies being told by prominent environmentalists and their supporters in-order to perpetuate the myth that out-of-control human consumption can be continued if people just ‘buy green.’
The majority of ‘green technologies’, heralded as solutions to environmental destruction are, in fact, adding to the problem, speeding up our consumption and enabling people to live in the fantasy of “green-washing.”
Bright Green Lies takes an in-depth look at the newest wave of environmentalism and its belief that through 100% renewables, recycling and electric cars, we can have industrial civilization without destroying the planet.
“Over the past several decades, this ‘Bright Green environmentalism’ has become mainstream,” said Julia Barnes. “There are an incredible number of claims being made about “green” technologies that are frankly untrue. Words like “clean,” “free,” “safe,” and “sustainable” are often thrown around by bright green environmentalists. They act as if solar panels and wind turbines grow on trees.”
Through the film’s examination of the unseen processes involved in making flagship green technologies, a very different picture is revealed. Their mass production requires increased mining, industrial manufacturing, habitat destruction, greenhouse gas emissions, and the creation of toxic waste. Renewable energy does not even deliver on its most basic promise of reducing fossil fuel consumption. On a global scale, the energy produced by 'green technology' is simply being stacked on top of what is already being used.
The solutions we are turning to as our saviours are adding to the destruction, accelerating the mass extinction of life on earth, and wasting time we don’t have on false solutions. Tackling the most pressing issues of our time will require us to look beyond the mainstream technological fantasies and ask deeper questions about what needs to change. "We can't save the world by destroying it," said Max Wilbert.
Join us for the live premiere of www.brightgreenlies.com followed by an in-depth conversation and live Q&A with Julia Barnes, Derrick Jensen, Max Wilbert and Lierre Keith.
Earth Day – April 22nd
8:30pm EST
For further information and/or interviews please email:
Josh Stanbury This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--MV Oil Trust (the “Trust”) (NYSE: MVO) on March 16, 2021 filed its Annual Report on Form 10-K for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission (the “SEC”). The Annual Report on Form 10-K is available in the “SEC Filings” section of the Trust’s website at http://mvo.q4web.com/home/default.aspx as well as on the SEC’s website at www.sec.gov.
Trust unitholders may also request a printed copy of the Annual Report on Form 10-K, which includes audited financial statements, free of charge by submitting a request in writing to:
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
601 Travis Street, Floor 16, Houston, TX 77002
MV Oil Trust
The Bank of New York Mellon Trust Company, N.A., as Trustee
Elaina C. Rodgers
(713) 483-6020
MILPITAS, Calif. & CHICAGO--(BUSINESS WIRE)--#DeltaSkyClub--View, Inc. (Nasdaq: VIEW) (“View”), the market leader in smart glass, announced its smart windows will be installed in the new 350,000-square-foot expansion of Terminal 5 at Chicago’s O’Hare International Airport (ORD). The expansion is part of O’Hare 21, an $8.5 billion project to modernize the airport with the goal of providing an efficient and comfortable passenger experience, with Terminal 5 serving as the new home for Delta Air Lines in Chicago.
View Smart Windows use artificial intelligence to optimize the amount of natural light in the terminal while minimizing heat and glare, to provide a more comfortable and healthier environment for passengers. In addition, smart windows reduce energy consumption by reducing cooling requirements.
Designed by the architecture firms Muller2 and HOK, the terminal mimics the sleek form of an airplane wing and will include floor-to-ceiling windows that increase natural light and offer expansive views of the runway. The expansion will increase the terminal’s gate capacity by 25 percent, adding 10 new gates, new concessions, and a brand-new Delta Sky Club premium lounge facility featuring View Smart Windows.
“As more people return to the skies, transforming airports from curb to gate to be comfortable, healthy, and efficient will be key to instilling confidence in travelers,” said Jamie L. Rhee, the commissioner of the Chicago Department of Aviation. “Incorporating View’s state-of-the-art, smart windows in Terminal 5 will help us provide an exceptional passenger experience while also making the airport more efficient and reducing our energy usage.”
In a recent study on the impact of natural light and the airport experience, passengers rated a concourse with View Smart Windows as 33 percent more modern, efficient, bright, and comfortable than one with traditional windows. Passengers were also 68 percent more likely to report being “very satisfied” with their overall experience in gates with View Smart Windows. Finally, seats in gates with View Smart Windows were 15 degrees cooler than in gates with traditional windows, leading to a more comfortable passenger environment.
“Airports are adopting View Smart Windows at an accelerating pace as they seek to elevate the passenger experience and also reduce their carbon footprint,” said Rahul Bammi, Chief Business Officer of View, Inc. “Modern airport designs often feature multi-story glass facades; however, traditional glass can cause significant passenger discomfort through increased glare and heat. View Smart Windows solve this problem, enhancing people’s comfort and experience, while also improving the airport’s energy efficiency.”
View Smart Windows have been installed at several airports, including Boston Logan International Airport (BOS), Dallas Fort-Worth International Airport (DFW), San Francisco International Airport (SFO), New York LaGuardia Airport (LGA), Memphis International Airport (MEM), Charlotte Douglas International Airport (CLT), Phoenix Sky-Harbor International Airport (PHX), and Seattle-Tacoma International Airport (SEA).
About View
View is a technology company and the market leader in smart windows. View Smart Windows use artificial intelligence to automatically adjust in response to the sun and increase access to natural light, to improve people’s health and experience in buildings, while simultaneously reducing energy consumption to mitigate the effects of climate change. Every View installation also includes a smart building platform that consists of power, network, and communication infrastructure. For more information, please visit: www.view.com.
About the Chicago Department of Aviation
The Chicago Department of Aviation (CDA) administers all aspects of Chicago's two major airports: O'Hare and Midway International Airports. In addition to managing world class airports in Chicago, the CDA is one of the regional leaders in business, employment and sustainability. The CDA has made a commitment to the Chicago area community to be a steward to residents, visitors and the environment.
For Investors:
Samuel Meehan
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408-493-1358
View Media:
Michael Kellner
Treble
415-425-4773
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Provides students with access to leading E&P software and mentoring opportunities to engage and prepare them for future careers
KUALA LUMPUR--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced it awarded a multimillion dollar software grant to Universiti Teknologi PETRONAS (UTP) to support the education and development of students pursuing careers in the oil and gas industry. The three-year donation provides access to Halliburton Landmark’s DecisionSpace® suite of exploration and production software so students can bridge the gap between academic coursework and practical application.
The grant also facilitates the Halliburton Science and Technology for Exploration & Production Solutions (STEPS) program which offers students the opportunity to conduct a research project while receiving industry-relevant training and mentorship. Two UTP graduate students will participate in the program and have access to the latest software to better understand real-world data and create a dynamic learning environment.
“Halliburton is proud to offer this opportunity to UTP students to enable the development of important technical skills and relationships that are critical to future success,” said Rao Abdullah, vice president of business development and NOC’s in Asia Pacific. “We believe learning is most effective when students collaborate with experienced practitioners and utilize cutting-edge technologies to broaden their knowledge and cultivate new skills.”
In addition, Halliburton will deliver adjunct lectures for undergraduate and master’s degree students on a variety of topics including drilling, production, field development and data science. The donation is delivered through Halliburton Landmark’s University Grants Program, which contributes renewable software licenses to qualified academic institutions worldwide.
"It is a privilege for us to receive this software grant from Halliburton. The software program will enable students to practically apply scientific and theoretical principles to real-world scenarios. This will greatly benefit students in the realm of practical experience and prepare them well for careers in the oil and gas industry. It is also perfectly in sync with UTP’s commitment to produce industry relevant and industry ready graduates,” said Professor Ts. Dr Mohamed Ibrahim Abdul Mutalib, UTP Vice Chancellor.
ABOUT HALLIBURTON
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
ABOUT UNIVERSITI TEKNOLOGI PETRONAS (UTP)
UTP, which was founded in 1997, is one of the leading universities in the region. It offers a wide range of industry-relevant engineering, science and technology programmes as well as management and humanities at undergraduate and postgraduate levels. UTP has produced over 19,000 graduates from more than 60 countries and has become one of the main feeders within the region in producing competent talents and workforce. For more information, visit www.utp.edu.my. Follow us on our social media at UTPOfficial.
For Investors:
Abu Zeya
Investor Relations
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281-871-2688
For News Media:
William Fitzgerald
External Affairs
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281-871-5267
Suhaila Sharaini
Media Relations, Corporate Communications
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Solar-powered home batteries in New York City homes will help strengthen grid reliability and defer construction of new energy infrastructure
LOS ANGELES--(BUSINESS WIRE)--Energy and smart grid solutions provider Swell Energy (Swell) today announced the start of a residential solar plus storage program for homeowners in Queens, New York. The program will be deployed in partnership with Con Edison, the energy company that serves New York City, and aims to deliver solar-powered home batteries to eligible customers creating an aggregated network of distributed energy resources.
New York State is targeting 3,000 megawatts (MW) of installed energy storage capacity by 2030 and a zero-emissions electricity sector by 2040. Con Edison’s Non-Wires Solutions procurement efforts, which include the Swell program, are in support of these State targets. The program will help reduce demand and relieve stress on the electric grid during peak demand periods without additional energy infrastructure construction and upgrades. As several hundred households in a condensed service area require less power during peak periods due to Swell’s solar plus storage installations, Con Edison can strengthen reliability for all customers.
Participating homeowners will have the opportunity to earn incentives that lower the cost of clean, reliable solar plus storage systems. Residents of Forest Park, Glendale, Hunters Point, Long Island City, Maspeth, Middle Village, Ridgewood, Sunnyside, and parts of adjacent neighborhoods in Queens can now reserve their spot in the program.
“Swell Energy’s smart grid solutions are designed to simultaneously meet the needs of utilities and customers through the aggregation of solar-powered home batteries. This is a unique opportunity to collaborate with Con Edison to make our vision of Swell’s NYC Virtual Power Plant a reality for New Yorkers,” said Suleman Khan, CEO of Swell Energy.
Con Edison customers who may be eligible to participate can learn more and reserve a spot in the program by visiting www.swellenergy.com/Queens.
About Swell Energy, Inc.
Swell Energy is creating a greater grid for the greater good. The energy management and smart grid solutions provider is accelerating the mass adoption of distributed clean energy technologies by making it easy for consumers to take control of their energy use, achieve energy security and save costs. The company provides homeowners and businesses with financing and educational resources and partners with trusted local solar and solar+storage companies for seamless, high-quality product installations. By creating a critical mass of dynamic and responsive clean energy resources within utility service areas across the United States, Swell Energy is also delivering resilient virtual power plant networks and grid-balancing services to utilities, which are fundamental to our future, carbon-free, distributed renewable energy system. Learn more at www.swellenergy.com.
Camille Cater
Antenna Group for Swell Energy
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551-225-1478
Isotrol’s solutions for Renewable Energies and its extensive experience in the sector come together with the reputation and local position in the USA and Canada of Berkana Resources
BOSTON--(BUSINESS WIRE)--Isotrol, an international benchmark in engineering and control software solutions focused on improving the operational efficiency of Renewable Energy assets, and Berkana Resources, a leader in Operational Technology (OT) for the Energy market, have recently signed a partnership Agreement to address the rapidly expanding North American Renewable Energy market. As a result of this collaboration, both companies will jointly provide a better and more competitive solution, tailored to local needs in the execution of projects for their clients.
Isotrol has been present in the North American market for more than seven years and brings to this partnership its Renewable Energy knowledge, experience and technology including Bluence®, Isotrol's comprehensive management platform for Renewable Energy. Berkana Resources has been providing Operational Technology services in North America since 2004 and brings its control system operational, technical, security and compliance knowledge to the partnership, along with a strong local position.
For Isotrol “this agreement enhances our strategic commitment to be consolidated in the North American market,” declared the COO of Isotrol Manuel Losada. “Partnering with a company like Berkana Resources, with its extensive experience and position in the O&G sector, is a privilege that allows us to jointly offer a competitive and quality tender to a client that is steadily expanding towards renewable energies.”
For his part, the President of Berkana Resources Jeff Whitney, added, “Partnering with Isotrol gives us access to exceptional knowledge and solution capabilities to address the Renewal Energy market.”
This partnership consolidates the appreciable position previously achieved by each party in North America. Isotrol currently has more than 13 GW of installed power monitored with its systems on the continent and maintains offices in Boston (USA) and Calgary (Canada). Berkana Resources provides support to multiple large and mid sized Oil & Gas concerns, assisting with Oil & Gas and Renewal Energy projects, and maintains offices in Denver, Colorado; Houston, Texas and Calgary, Alberta (Canada).
About Isotrol
Isotrol develops technology for the international energy market and specializes in optimizing the efficiency and profitability of renewable energy plants. The company was established in 1984 as pioneers of monitoring and control systems and, today, their solutions are managing over 53 GW of installed power capacity in 45 countries around the world.
About Berkana Resources Corporation
Berkana Resources Corporation (BRC) was established in 2004 and provides Operational and Information Technology consulting, integration, security and compliance solutions to customers in the Oil & Gas and Electric Utilities markets. Their clients include major Oil & Gas Companies, Utility Companies and Mid-Stream MLPs.
Isotrol
Francisco Parra
Communication & Marketing
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(+34) 955 036 800 (Ext. 1107)
Berkana Resources Corp.
Jeff Whitney
President
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Phone: (303) 293-2193
Joint venture to be positioned to meet the needs of the marine sector for the safe and efficient delivery of hydrogen onboard for mid-size power applications, resulting in a significant and cost-effective reduction in CO2 emissions when using standard methanol vs. gasoil, fully carbon-neutral when using renewable methanol, and can be modified to run on ammonia if desired
BEND, Ore.--(BUSINESS WIRE)--Element 1 Corp. (“e1,” or the “Company”), a leading developer of hydrogen generation technology today announced that it has signed a Letter of Intent (“LOI”) with Ardmore Shipping Corporation (“Ardmore,” or “ASC”) and Maritime Partners, LLC (“MP”) whereby Ardmore will make a strategic investment in e1, and together with Ardmore and MP, will establish a joint venture for the purpose of delivering e1’s unique methanol-to-hydrogen technology to the marine sector.
Ardmore owns and operates a fleet of MR product and chemical tankers ranging from 25,000 to 50,000 deadweight tons. Ardmore provides seaborne transportation of petroleum products and chemicals worldwide to oil majors, national oil companies, oil and chemical traders, and chemical companies with its modern, fuel-efficient fleet of mid-size tankers.
Maritime Partners, LLC, headquartered in New Orleans, Louisiana, is a leading provider of flexible financing solutions and newbuilding support to the maritime industry, with a focus on Jones Act vessels and inland marine transportation.
The transactions entail the following:
The transactions are expected to close simultaneously early in the second quarter of 2021.
Anthony Gurnee, Ardmore's Chief Executive Officer, commented on the announcement:
“We are very pleased to establish a strategic relationship with e1 and Maritime Partners to deliver this unique hydrogen delivery system to the marine sector. The establishment of e1 Marine and our investment in e1 advance our Energy Transition Plan, which includes a focus on transition technologies aimed at reducing carbon emissions in the shipping industry and utilizing Ardmore’s engineering and marketing capabilities to accelerate their deployment.
We are excited about the market opportunity for e1’s methanol-to-hydrogen technology. We believe it is safer and cheaper than other alternatives for onboard hydrogen delivery and, when using standard methanol, is operationally cost competitive with diesel engines even today, while emitting zero particulates, zero NOx, zero SOx, and 30-50% less carbon than a diesel engine of the same power rating. The e1 system is carbon-neutral when run on renewable methanol, should prove to be very cost competitive with other alternatives, and if desired, can be built or retrofitted to run on ammonia.
We are also very pleased to commence a close working relationship with Maritime Partners as a preferred equity holder and joint venture partner. Their investment will serve to strengthen Ardmore financially and to facilitate accretive growth, and we believe that e1 Marine will benefit significantly from Maritime Partners’ expertise and leading position in the inland marine market.”
Dr. Dave Edlund, Co-Founder and CEO of Element 1 Corp., commented on the announcement:
“Element 1 is delighted to ally with Ardmore and Maritime Partners to deliver commercial solutions for the marine sector that will significantly reduce the carbon intensity as well as other harmful emissions (particulate matter, NOx, and SOx) traditionally associated with burning fossil fuels. This strategic relationship is the direct result of our partners’ vision as well as their commitment to environmental responsibility.
Whereas fuel cell technology has matured substantially over recent decades, the supply of hydrogen as feedstock to fuel cells has lagged considerably, resulting in significant logistic and economic challenges to the wide-scale deployment of fuel cells. e1’s methanol-to-hydrogen technology offers a broad solution to this challenge. Importantly, Ardmore and Maritime Partners provide unique access to existing markets in international shipping and inland waterways.”
Mr. Bick Brooks, Co-Founder and CEO of Maritime Partners LLC, commented on the announcement:
“We are pleased to partner with e1 and Ardmore to drive the adoption of e1’s hydrogen purification technology across the global maritime landscape. We are particularly excited about the applications for this technology within the inland marine industry, as it offers the potential to materially lower carbon emissions in the near-term and provides a clear path to achieving a zero-carbon footprint. Importantly, we believe this technology is currently cost competitive with diesel internal combustion engines.
Ardmore has an excellent track record of financial discipline. Accordingly, we look forward to aligning with Ardmore beyond the joint venture and to supporting Ardmore’s accretive growth ambitions through our preferred equity investment.”
Mr. Bryan Reid, Chief Sales Officer of RIX Industries, commented on the announcement:
“RIX is a licensed manufacturer of Element 1’s M-series hydrogen generation technology and is excited to support e1 Marine in this new venture.”
Armistead Street LLC played a pivotal role in the formation of e1 Marine by providing consulting services to the respective parties throughout the process. Armistead is a US based strategic consulting firm, led by Michael Webber, focusing on renewables, energy, and industrial sectors, with offices in New York and Houston.
The JV and investment in e1 will be held by Ardmore Ventures (“AV”), a newly incorporated holding company for investments related to Ardmore’s Energy Transition Plan.
Element 1 Corp. (Bend, Oregon):
Element 1 designs and develops advanced hydrogen generation systems used to power fuel cells with broad use in mobile applications and remote locations such as marine, trucking, off-road vehicles, rail, warehousing, and backup power supply sectors. e1’s proprietary technology produces hydrogen on demand at the point of consumption, eliminating the logistical challenges and costs inherent in distributing compressed hydrogen. For more information about Element 1, please visit www.e1na.com.
Media Contact:
Robert Schluter
President
Element 1 Corp
Phone: 541.678.5943
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
e1 Investor Relations Contact:
Greg Haugen
CFO
Element 1 Corp
Phone: 541.639.1711
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AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (“REG”) (NASDAQ: REGI) today announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a public offering price of $67.00 per share. The size of the offering was upsized from 4,500,000 shares to 5,000,000 shares.
The gross proceeds to REG from this offering, before deducting underwriting discounts and commissions and offering expenses payable by REG, are expected to be $335 million. All of the shares are being offered by REG. The offering is scheduled to close on or about March 19, 2021, subject to customary closing conditions. In addition, REG has granted to the underwriters participating in the offering a 30-day option to purchase up to an additional 750,000 shares of its common stock at the public offering price, less underwriting discounts and commissions.
REG intends to use the net proceeds from this offering for working capital and other general corporate purposes, which may include the repayment of existing indebtedness and the funding of capital expenditures, including capital expenditures related to the expansion of the Geismar, Louisiana biorefinery. REG may also use a portion of the net proceeds from this offering to finance potential strategic transactions, although it currently has no binding commitments or agreements to complete any such transaction.
Credit Suisse, BofA Securities, and Guggenheim Securities are acting as joint book-running managers for the offering, and Piper Sandler and Roth Capital Partners are acting as co-managers.
The shares will be issued pursuant to a shelf registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. A final prospectus supplement and accompanying prospectus will be filed with the SEC. A copy of the final prospectus supplement and accompanying prospectus relating to the offering, when available, may be obtained by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, by telephone at (800) 221-1037, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-9544 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. Any offer, if at all, will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement.
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ: REGI) is leading the energy industry's transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and North America’s largest producer of biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to REG’s expectations regarding the anticipated closing date of the offering, and intentions with respect to the use of net proceeds from the offering. These forward-looking statements are based on current expectations and assumptions, are subject to change, and actual results may differ materially. Factors that could cause actual results to differ materially include those relating to satisfaction of conditions to closing of the offering, REG’s ability to obtain additional or alternative financing to fund its capital expenditures, the fact that REG’s management will have broad discretion in the use of the net proceeds from the offering and other risks described in REG's annual report on Form 10-K for the year ended December 31, 2020 and from time to time in the REG's other periodic filings with the SEC. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Todd Robinson
Interim Chief Financial Officer
Renewable Energy Group
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(515) 239-8048
13 MW DC project to generate local electricity and lower energy costs for Karnes County residents
OAKLAND, Calif.--(BUSINESS WIRE)--Adapture Renewables Inc. announced today the completion of Catan Solar, a 13 megawatt (MW) DC solar project in Runge, Texas. Adapture Renewables Inc. successfully brought the project to commercial operation in December 2020 and sells the electricity in the Electric Reliability Council of Texas (ERCOT) market. This is the first solar project in Karnes County, Texas, one of the top oil-producing counties in the state.
Adapture Renewables financed the construction of the project with in-house capital and will own and operate the project for the long-term. The Catan project demonstrates the company’s ability to leverage its proven track record, deep domain expertise and comprehensive in-house development, EPC management, legal and project finance services to efficiently and effectively drive solar projects to long-term operation.
“The Catan Solar project presented an exciting opportunity for our team,” said David FitzGerald, Director of Project Management at Adapture Renewables. “Being our first project in Texas, our team learned and adapted quickly to the local nuances and procedures in the region and built lasting relationships with local partners to complete the project on time and on budget, while adhering to COVID-19 pandemic best practices. We look forward to leveraging these skills and partnerships for future projects in the area.”
In addition to supplying locally-generated renewable energy for the community, the Catan solar project will generate long-term revenue for the local economy and help reduce energy costs for Karnes County residents.
Texas is expected to see the largest growth of solar energy of any U.S. state this year, accounting for 28 percent of new planned solar capacity, according to a recent report from the U.S. Energy Information Administration. With this project, Adapture Renewables increases its portfolio of solar energy generating assets in Texas to 95 MW DC, and 239 MW DC in total across the country.
About Adapture Renewables, Inc.
Adapture Renewables, Inc. is a solar project developer (and M&A shop), owner and operator. The company leverages its proven track record, deep domain expertise and comprehensive in-house development, EPC management, legal and project finance services to efficiently and effectively drive solar projects from origination to long-term operation. Majority-owned by KIRKBI – the private holding and investment company of the Kirk Kristiansen family founded to build a sustainable future for the LEGO® brand through generations – Adapture Renewables, Inc. has the financial footing necessary to take a diligent and thoughtful approach to solar project development and is invested in its projects’ long-term success. The company’s culture of creative problem-solving and shared mission to accelerate the global transition to clean energy contribute to the company’s success deploying, owning and operating solar assets across ten states in the US. Adapture Renewables, Inc. is based in Oakland, CA. For more information about Adapture Renewables, Inc., visit https://adapturerenewables.com/.
Camille Cater
Adapture Renewables, Inc.
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Market competition continues to intensify as acquisitions increase and large established players revise offerings and business models
BOULDER, Colo.--(BUSINESS WIRE)--#AI--A new Leaderboard report from Guidehouse Insights examines the strategy and execution of 16 microgrid controls vendors, with Schweitzer Engineering Labs (SEL), Schneider Electric, and Siemens ranked as the leading market players.
Microgrid controls platforms are considered the gateway technology for microgrids to be mainstreamed. Controls unlock value and are an important technology decision to influence project success. As such, there is intense competition in this space as vendors continue to innovate in terms of user friendliness, cost-effectiveness, and fresh approaches to partnerships and market growth. Click to tweet: According to a new Leaderboard report from @WeAreGHInsights, SEL, Schneider Electric, and Siemens are the leading providers of microgrid controls.
“SEL and Schneider offer contrasting strengths—SEL offers a low cost, market-leading technology for seamless islanding while Schneider Electric is pioneering new energy as a service (EaaS) business models for microgrids,” says Peter Asmus, research director with Guidehouse Insights. “The third market leader is Siemens, which has expanded its microgrid offerings and helped develop leading-edge microgrids across multiple geographies.”
Fierce market competition is evidenced by the number of companies that have come and gone over the past decade, the increased number of recent acquisitions, and the number of large established players that have revised their offerings with new technology and business models. Companies leading the way for advanced controls are often large technology firms revamping their original distribution automation and SCADA controls with increased digital capabilities using in-house software or acquisitions of smaller startups. Then there are the independent startups testing limits with new control algorithms informed by AI and using Internet of Things (IoT) digital infrastructure. Between the extremes of large technology firms and small startups exists a long list of companies.
The report, Guidehouse Insights Leaderboard: Microgrid Controls Vendors, evaluates the strategy and execution of 13 UESSIs. Using Guidehouse Insights’ proprietary Leaderboard methodology, vendors are profiled, rated, and ranked to provide industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global market for UES integration. These companies are rated on 12 criteria: vision; go-to-market strategy; partners; production strategy; technology; geographic reach; sales, marketing, and distribution; product performance; product quality and reliability; product portfolio; pricing; and staying power. 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, Guidehouse Insights Leaderboard: Microgrid Controls Vendors, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
Lindsay Funicello-Paul
+1.781.270.8456
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Longevity Partners, the world’s fastest-growing ESG advisory firm, taps Welton to continue its rapid expansion across the US as asset managers increasingly become more responsible, carbon-neutral, and resilient in 2021
NEW YORK--(BUSINESS WIRE)--Longevity Partners, the leading service provider for energy and sustainability advice across the world’s largest property funds, just announced the hiring of Sarah Welton as US Business Growth Director for the East Coast. This comes on the heels of Longevity’s official foray into the North American market with the opening of its US headquarters in Austin, Texas earlier this year. Longevity Partners is the first European responsible real estate advisory firm to open offices in the United States as the firm continues its global expansion with the support of new hires like Ms. Welton. The company manages more than $120bn in ESG programs, operating in 38 countries for more than 100 institutional investors across all asset classes.
“2021 is a pivotal year with regards to American climate policy. US business will need a combination of creative, innovative, and established expertise to deliver net-zero carbon goals. Temperatures around the globe are rising faster than scientists initially anticipated. Longevity provides businesses with tangible solutions to integrate climate risk mitigation measures within their operations,” says Etienne Cadestin, Founder and CEO of Longevity Partners. “The systemic transition task ahead is pharaonic and I couldn’t think of a better leader than Sarah to head our business growth activities and support our partners with the delivery of their climate plans in the US and beyond.”
With her deep-rooted background in real estate finance, public health, and urban planning, Ms. Welton will expand Longevity’s presence on the East Coast. Ms. Welton’s role will involve developing long-lasting relationships with new clients while liaising with existing ones, many of whom have European counterparts that have successfully utilized the firm’s services to future-proof property investment portfolios. Ms. Welton will serve as a company ambassador to continue the mission of educating prospective clients on the transition to net-zero carbon and social sustainability.
Prior to joining the company, Ms. Welton spent seven years at the International WELL Building Institute (IWBI), where she transformed the built environment by helping create better and more valuable spaces for people and the environment, in addition to supporting the launch of IWBI's Investing for Health initiative, which aims to elevate health and well-being within the ESG landscape.
Ms. Welton earned a dual master’s degree in Public Health and Urban Planning from Columbia University’s Mailman School of Public Health and the School of Architecture, Planning, and Preservation. She earned her bachelor’s degree in Finance from the University of Georgia’s Terry School of Business.
"There is an undeniable urgency for real estate - particularly real estate across the United States - to step up as a leader in the fight against climate change and social inequity,” says Welton. “I am excited for this opportunity to join such a talented, experienced, and passionate team and to grow Longevity Partners' business in the US."
The mission of Longevity comes at a crucial time in 2021 when new carbon reduction targets and stakeholder demands are requiring investors and property managers to consider responsible solutions for new and existing assets. There is growing understanding from the investment community on the financial imperative to minimize reputational and environmental risk and maximize long-term value creation by delivering carbon neutral and resilient assets.
The North American subsidiary, 100% owned by Longevity Partners Limited, is managed by the group Founder and CEO Etienne Cadestin. Satellite offices in San Francisco and New York have also just opened in 2021 adding to the company’s existing European networks in London, Paris, Munich, and Amsterdam.
To learn more about how Longevity can guide your company on the path to net-zero carbon, visit: http://longevity-partners.com/.
About Longevity Partners
Founded in 2015, Longevity Partners works to make the built environment more responsible, carbon-neutral, and resilient. Longevity Partners provides first-class energy and sustainability advice to the biggest names in the sector, operating across the entire commercial & residential property industry in 38 countries. It believes in long-term partnerships to drive the transition to a low carbon economy through the implementation of innovative tactics.
Victoria Shannon
August PR
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631.525.3394
HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) announced today that it expects operational disruptions and softer-than-anticipated customer orders will cause first quarter 2021 operating results to fall below prior guidance.
“Unfortunately, the extreme winter weather across Texas and Oklahoma, the ongoing effects of COVID-19 lockdowns, and the continued spending austerity from our oilfield customers are combining to take a greater-than-expected toll on our first quarter results,” stated Clay Williams, Chairman, President and CEO.
Severe weather in Texas and Oklahoma during February adversely affected the financial results of all three segments. In addition to the weather-related disruptions, the Company’s Completion & Production Solutions and Rig Technologies segments were impacted by certain project delays, COVID-19 shutdowns in Southeast Asia, and an acute global glass fiber supply shortage impacting the Company’s Fiberglass Systems operations. Within NOV’s Wellbore Technologies segment, recent improvements in North American drilling activity levels and incremental cost savings initiatives are expected to offset weather-related disruptions and allow for segment results that are in-line with prior guidance. The Company now forecasts consolidated first quarter 2021 revenues will be between $1.20 and $1.25 billion with an adjusted EBITDA loss of $15 to $25 million.
Williams continued, “While the first quarter result is disappointing, we expect the prospects for our business to improve through the remainder of the year. The combination of $60+ oil, the continued recovery in the North American rig count, improvements in international activity, and the emergence of a number of our offshore drilling customers from bankruptcy is expected to lead to meaningfully better results in the second half of the year. In the meantime, we remain focused on reducing operating costs and investing in new products and technologies to position NOV for the upturn.”
The Company will announce first quarter results in a press release issued after market close on Tuesday, April 27, 2021 and will conduct a conference call on Wednesday, April 28, 2021 at 10 a.m. (Central Time). The call will be webcast live on www.nov.com/investors.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Adjusted EBITDA is operating loss plus depreciation and amortization and other items. The Company discloses Adjusted EBITDA in its periodic earnings press releases and other public disclosures to provide investors additional information about the results of ongoing operations and uses it internally to evaluate and manage the business. Adjusted EBITDA is not intended to replace GAAP financial measures.
Cautionary Statement for the Purpose of the “Safe Harbor” Provisions of the Private Securities Litigation Reform Act of 1995
Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties. These statements may differ materially from the actual future events or results. Readers are referred to documents filed by NOV Inc. with the Securities and Exchange Commission, including the Annual Report on Form 10-K, which identify significant risk factors which could cause actual results to differ from those contained in the forward-looking statements.
Source: NOV Inc.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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NAVIGATOR LAUNCHES A NON-BINDING OPEN SEASON TO SOLICIT INTEREST IN FIRM CAPACITY
SAN ANTONIO--(BUSINESS WIRE)--Valero Energy Corporation (NYSE: VLO, “Valero”) and BlackRock Global Energy & Power Infrastructure Fund III announced today that they are partnering with Navigator Energy Services (“Navigator”) to develop an industrial scale carbon capture pipeline system (“CCS”). The initial phase is expected to span more than 1,200 miles of new carbon dioxide gathering and transportation pipelines across five Midwest states with the capability of permanently storing up to 5 million metric tonnes of carbon dioxide per year. Pending third party customer feedback, the system could be expanded to transport and sequester up to 8 million metric tonnes of carbon dioxide per year. Valero, the largest renewable fuels producer in North America, is expected to become an anchor shipper by securing a majority of the initial available system capacity. Navigator is expected to lead the construction and operations of the system and anticipates operations to begin late 2024. In the coming months, Navigator will seek additional commitments to utilize the remaining capacity via a binding open season process.
The CCS project seeks to provide biorefineries and other industrial participants a long-term, economic path to materially reduce their carbon footprint while maximizing the value of their end-product in a cost-effective manner that is safe for the environment.
“This project demonstrates our leadership in energy transition through innovation in renewables,” said Joe Gorder, Valero Chairman and Chief Executive Officer. “We continue to expand our long-term competitive advantage with investments to produce lower carbon fuels.”
“We are very excited to partner with Valero and Navigator in the development of this project,” said Mark Florian, Head of BlackRock’s Global Energy & Power Infrastructure team, which invests in essential, long-term infrastructure investments in the energy and power sector and sits within BlackRock Real Assets. “Carbon capture infrastructure is a key part of reducing global carbon dioxide emissions, and we look forward to executing this important project with high-quality industry partners and creating a strong investment for our funds.”
“Now is the time for industry-leading market participants to join forces to complete an environmentally focused midstream project of this size and scale. Harnessing our collective resources and strengths will create a unique infrastructure project that changes the way carbon emissions are managed,” said Matt Vining, Navigator’s Chief Executive Officer.
Proposed System Details
Navigator will work with each counterparty to install or connect the applicable carbon capture equipment to the pipeline at various receipt points in Nebraska, Iowa, South Dakota, Minnesota, and Illinois. The proposed system plans to transport liquefied carbon dioxide through the pipeline, ranging from 6” to 16” in diameter, for delivery into a central sequestration facility contemplated to be in south-central Illinois. The system is expected to have the ability to expand materially if driven by demand.
Open Season
Prior to participating in the non-binding open season, interested parties must execute a confidentiality agreement to govern the receipt of the open season documentation. All potential shippers must submit non-binding information by 12:00 p.m. Central Time on April 30, 2021 as an expression of interest to continue in the binding process. The Notice of Open Season is available on the Project’s website at www.navigatorco2.com. More information about the open season is also available by contacting Navigator’s Chief Commercial Officer, Laura McGlothlin, at (214) 880-6003 or This email address is being protected from spambots. You need JavaScript enabled to view it..
About Valero
Valero Energy Corporation, through its subsidiaries (collectively, “Valero”), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 50 company based in San Antonio, Texas, and it operates 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 13 ethanol plants with a combined production capacity of approximately 1.69 billion gallons per year. The petroleum refineries are located in the United States (“U.S.”), Canada and the United Kingdom (“U.K.”), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America’s largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero’s brand names. Please visit www.investorvalero.com for more information.
About BlackRock Real Assets
In today’s dynamic and complex global investing market, BlackRock Real Assets seeks to help clients access real assets that could help meet their investment goals by providing a distinct range of well defined, outcome orientated strategies, along the investment risk-return spectrum. BlackRock Real Assets’ dedicated teams of industry and sector specialists deliver global reach, with deep local expertise. They have decades of relevant experience, are deeply embedded in their operating industries by sector and geography and have developed strong partnership networks over time. BlackRock’s culture of risk management, knowledge sharing and investment discipline sets BlackRock Real Assets apart and underpins all that they do. With over 390 professionals in 30 offices managing over US$60 billion in client commitments as of December 31, 2020, BlackRock Real Assets partners with clients to provide solutions tailored to individual portfolio needs such as income, growth, liquid or balanced real assets outcomes.
About Navigator Energy Services
Headquartered in Dallas, Navigator Energy Services provides comprehensive midstream services including product gathering, transportation and storage. More information is available at www.nesmidstream.com.
Safe-Harbor Statement
Statements contained in this release that state Valero’s or management’s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words “believe,” “expect,” “should,” “estimates,” “intend,” “target,” “will,” “plans,” “forecast,” and other similar expressions identify forward-looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of the company’s control, such as delays in construction timing and other factors. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero’s annual reports on Form 10-K, quarterly reports on Form 10-Q, and other reports filed with the Securities and Exchange Commission and available on Valero’s website at www.valero.com.
Valero Contacts
Investors:
Homer Bhullar, Vice President – Investor Relations, 210-345-1982
Eric Herbort, Senior Manager – Investor Relations, 210-345-3331
Gautam Srivastava, Senior Manager – Investor Relations, 210-345-3992
Media:
Lillian Riojas, Executive Director – Media Relations and Communications, 210-345-5002
HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it will participate in the Goldman Sachs Energy Credit Virtual Field Trip. The meeting will be held virtually on March 16, 2021.
The Partnership’s latest presentation materials are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.
Genesis Energy, L.P. is a diversified midstream energy master limited partnership headquartered in Houston, Texas. Genesis’ operations include offshore pipeline transportation, sodium minerals and sulfur services, onshore facilities and transportation and marine transportation. Genesis’ operations are primarily located in the Gulf Coast region of the United States, Wyoming and the Gulf of Mexico.
Genesis Energy, L.P.
Ryan Sims
SVP – Finance and Corporate Development
(713) 860-2521
New Three-year Contract Expands the Company’s Market Penetration in Texas
SANTA ANA, Calif.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the global leader in smart mobility infrastructure management, today announced that it has been awarded a three-year indefinite delivery/indefinite quantity (IDIQ) contract by the Texas Department of Transportation (TxDOT), with a potential value of up to $1.2 million, representing continued demand for Iteris’ specialized consulting services in a key geographic market.
The three-year program includes traffic signal timing improvements at key intersections throughout the Houston district, one of the country’s largest metropolitan areas, which houses over 1,000 signalized intersections.
“We are proud to be selected again by TxDOT to support important infrastructure projects in the state of Texas, one of the largest and most progressive transportation markets in the U.S.,” said Scott Carlson, regional vice president, Transportation Systems at Iteris. “Texas is a key strategic market for Iteris and, with this being the fourth TxDOT IDIQ awarded to Iteris in the past three years, we expect to further expand our share of specialized consulting, managed services and software-as-a-service revenue in the state.”
With this contract, which was awarded in December 2020, Iteris expands its current traffic engineering and smart mobility work to another TxDOT district, for a total potential TxDOT backlog of over $9.3 million from six IDIQ contracts awarded over the past five years.
In May 2019, Iteris was awarded an IDIQ contract from TxDOT for traffic signal timing, traffic signal operations and signal communication analysis in the Austin district. That contract was a three-year commitment with a potential value of up to $2 million.
In June 2020, Iteris was awarded a $1 million contract by the City of Round Rock to provide mobility intelligence solutions and video detection technology updates throughout the Texas city.
About Iteris, Inc.
Iteris is the global leader in smart mobility infrastructure management – the foundation for a new era of mobility. We apply cloud computing, artificial intelligence, advanced sensors, advisory services and managed services to achieve safe, efficient and sustainable mobility. Our end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world to help ensure that roads are safe, travel is efficient, and communities thrive. Visit www.iteris.com for more information and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," “feels,” “anticipates,” "expects," "intends," "plans," "seeks," "estimates," "may," “should,” "will," "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the success, impact, and benefits of the awarded contract. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to successfully perform the services on a cost-effective basis; government funding and budgetary delays, constraints and issues; adverse impacts related to performance timing and cancellation of an awarded contract; adverse impacts of general economic, political, and other conditions in the markets we address; and the potential impact of product and service offerings from competitors. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
Iteris Contact
David Sadeghi
Tel: (949) 270-9523
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
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