Black & Veatch technology lead selected for expertise in hydrogen solutions and technologies, decarbonization
OVERLAND PARK, Kan.--(BUSINESS WIRE)--Black & Veatch announces today that Jason Rowell, associate vice president and global technology portfolio manager with the company’s global power business, has been named to the California Hydrogen Business Council (CHBC) Board of Directors. CHBC is a membership-based trade association that advocates for the hydrogen and fuel cell industry in California.
The global hydrogen market is rapidly evolving as clean, sustainable hydrogen emerges as a critical element in enabling our zero-emission future. Hydrogen has the potential to reduce and replace global reliance on fossil fuels for heating, transport, production of green chemicals and fertilizer, storage and electricity generation and more.
Headquartered in Yorba Linda, California, CHBC works to advance the commercialization of hydrogen and fuel cells in the energy and transportation sectors to achieve California’s climate, air quality and decarbonization goals.
Rowell, an expert in hydrogen solutions and technologies, takes his seat on the board alongside several industry leaders, including Katrina Fritz, California Stationary Fuel Cell Collaborative; Mark Abramowitz, Community Environmental Services; Gordon Dash, DasH2energy; Matthew Fairlie, Next Hydrogen; and Philippe Gerretsen, Nikola Motor.
“The CHBC is pleased to have a leader of Jason’s caliber join the Board of Directors,” said Bill Zobel, executive director of the CHBC. “His role and expertise with Black & Veatch to deploy cutting-edge technologies, particularly hydrogen infrastructure, will bring an invaluable depth of knowledge to the CHBC’s policy development and advocacy in Sacramento.”
With more than two decades of experience in the power industry – including 13 years with Black & Veatch – Rowell directs the development and implementation of industry-leading sustainable power solutions.
“I’m thrilled to join the board of CHBC, given their strong history of advocating for and promoting hydrogen in California,” Rowell said. “Black & Veatch is actively involved in the hydrogen revolution – from delivering green hydrogen for power generation and storage, advanced transportation and fuel-cell technology, to processing blue hydrogen with carbon capture technology.”
“We are deeply committed to using technology and innovation to advance sustainability around the globe,” Rowell added. “I look forward to engaging with CHBC’s members and stakeholders as we work to promote the adoption of hydrogen technologies at scale.”
Editor’s Notes:
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world’s most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
About the California Hydrogen Business Council
The California Hydrogen Business Council (CHBC) is comprised of over 100 companies, agencies and individuals involved in the business of hydrogen. Our mission is to advance the commercialization of hydrogen in the energy sector, including transportation, goods movement, and stationary power systems to reduce emissions and dependence on oil. More information at www.californiahydrogen.org.
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MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) highlights the University of Wisconsin-Madison's analysis of Madison Gas and Electric's net-zero carbon electricity goal in its latest investor newsletter, "Interim Report," which also includes the following topics:
The newsletter is available on MGE Energy's website at: https://www.mgeenergy.com/interimreport
Interim Report is published quarterly to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
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 billion, and its 2019 revenues were approximately $569 million.
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Sakellaris, a Pioneer in the Energy Industry, Named E+E 100 Honoree and Silver Winner of Best in Biz Awards
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#bestinbiz--Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy solutions company, today announced that its founder, president and CEO George Sakellaris was named an Environment + Energy Leader E+E 100 Honoree and the Silver Winner of Best in Biz’s Executive of the Year category.
George has been selected as one of the E+E 100 honorees, a list that recognizes individuals who are creating new solutions and best practices for achieving greater environment and energy success. George has exemplified his commitment through Ameresco’s continued innovation and growth.
In addition to his selection as an E+E 100 honoree, George was also named the Silver Winner of Best in Biz’s Executive of the Year category. Winners of this award are chosen across industries for their leadership, altruism and innovation. George’s contributions towards educating the public on the importance of renewable energy cemented him as a leader on the cutting-edge developments of this industry.
“In this wild year, it’s amazing to see companies still innovating, adapting, and thriving,” said Christopher Null, Wired, having judged seven of the last 10 Best in Biz Awards programs. “There’s so much in the business world that is inspirational right now.”
“Corporate resiliency has never been more important than in 2020 and the winning entries in the 10th annual Best in Biz Awards have impressive accomplishments in this area,” said Mark Huffman, Consumer Affairs, having judged six of the last 10 Best in Biz Awards competitions.
These distinctions follow George’s finalist nomination for S&P Global Platts Global Energy Awards’ Lifetime Achievement award. His passion for clean energy has culminated in the celebration of his 20th year as CEO and Ameresco’s 20th year in business. Looking ahead, he is eager to continue advocating for the company’s mission and impactful work.
“Working closely with [George] over the last 20 years and watching him lead this once start-up company to become a publicly-traded energy efficiency and renewable energy solutions industry leader, has been an extraordinary and gratifying experience,” said David J. Anderson, Executive Vice President and Director of Ameresco. “His vision, leadership and business instincts are second-to-none. His passion for this business, and relentless dedication to succeed, is contagious and unmatched."
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
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Enterprise-grade technology that is plug and play for low-touch deployment
SAN FRANCISCO--(BUSINESS WIRE)--#Covid19--What if your laboratory freezer monitoring solution could tell you the temperature as well as the condition of your freezer to alert you of potential device failures? This question is on the minds of sites across the country storing and distributing the COVID-19 vaccine from several pharmaceutical companies as they prepare to maintain precise freezer conditions. WattIQ, maker of enterprise-grade device monitoring technology for the life sciences industry, today announced the commercial availability of a new solution to monitor the condition of freezers and refrigerators. Building on the original application of WattIQ’s power monitoring solution that provided insight into energy efficiency over the life of a freezer, the expanded solution now offers insights into freezers with the best reliability, fastest recovery times, best efficiency, and lowest cost of ownership across any make or model. See WattIQ’s video: https://www.youtube.com/watch?v=q6CBmn4ZPqw
Read how a National Laboratory avoided a freezer failure in this blog.
From the latest vaccine technologies to high value samples in life sciences, the need to have confidence in monitoring the fleet of refrigerated devices is more critical than ever. Existing solutions traditionally only monitor temperature and door openings which tend to be more reactive than proactive. The lack of insight on the reliability, efficiency and temperature stability across a fleet of freezers results in unplanned failure, loss of irreplaceable product and excess redundancy in the fleet. WattIQ now enables customers to take the guesswork out of the safest freezer for everything from protecting life-saving vaccines to powering cost-saving procurement decisions with data.
Earlier this year, WattIQ announced the commercial availability of the world’s first scalable, enterprise-grade IoT solution for asset utilization and condition monitoring built around smart plugs.
WattIQ’s low-touch solutions get assets connected to the network in just minutes. Within 60 seconds of being connected, power, temperature and door sensor data for the asset is visible. It is also possible to pilot or fully deploy the technology without the need to invite WattIQ onsite. The WattIQ system is both manufacturer- and device type-agnostic and can scale from tens to thousands of assets within a building or across multiple sites. The centralized dashboard enables easy management of the smart plugs, as well as insights from an individual asset to an aggregated asset class or department view.
About WattIQ:
WattIQ, formerly known as Ibis Networks, is the only enterprise-grade IoT solution that connects thousands of unconnected electrical assets, making it possible for the first time to monitor utilization, health, safety, and location using a single device, the smart plug. The data generated helps customers in pharma, biotech, and other industries to enable asset sharing, make critical procurement and maintenance contract decisions, prevent unplanned device failures, and protect valuable products and science. For more information, visit WattIQ at www.wattiq.io and follow us on Twitter and LinkedIn.
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Companies Sign Seven-Year Energy Storage Services Agreement for Development of 100-Megawatt Battery Storage Project in Astoria, Queens
Project Escalates New York’s Transition to a Sustainable Energy Future
NEW YORK--(BUSINESS WIRE)--174 Power Global and Con Edison today announced the signing of a seven-year dispatch rights agreement for the development of a 100-megawatt battery storage project, the East River Energy Storage System, in Astoria, Queens.
174 Power Global will build and own the battery system, which is expected to be one of the biggest in New York State. The facility will be located on land owned by the New York Power Authority (NYPA) and leased under a long-term contract to 174 Power Global. The new, energy storage system represents a redevelopment of the Charles Poletti Power Plant property, repowering New York City’s grid with a clean energy resource.
"New York is an important market for 174 Power Global due to the state’s commitment to clean energy,” said 174 Power Global President and CEO Henry Yun, PhD. “We are proud to have been selected by Con Edison for this project, and we look forward to working together to help bring clean power, as well as other regional electricity and economic benefits, to the Astoria community and more broadly to the state.”
“Utility scale battery storage will play a vital role in New York’s clean energy future, especially in New York City where it will help to maximize the benefit of the wind power being developed offshore,” said Tim Cawley, the president of Con Edison. “This project with 174 Power Global will help displace some fossil fuel-fired generation when the demand for power is highest.”
The East River Energy Storage System is designed to balance peak electricity demands and provide grid reliability by delivering reactive power, voltage support and frequency stability to the New York region, further escalating its transition to a sustainable energy future. Utility scale battery projects in New York City are necessary to include more renewable power generation currently in development.
“The New York Power Authority is committed to moving clean energy technologies forward and supporting initiatives that reduce greenhouse gas emissions and contribute to a healthier environment,” said Gil C. Quinones, NYPA president and CEO. “Additional energy storage development, especially in long duration storage, is key for the continued growth of renewable energy, such as hydro, wind and solar, to help us meet our peak energy demands and bring greater flexibility and resiliency to the New York State electric grid. We are pleased to have had a role in this project. This adaptive reuse of this land will help realize yet another clean energy project that moves us another step forward in meeting our aggressive climate leadership goals.”
“Expanding battery storage is a critical part of how we advance momentum to confront the climate emergency while meeting the energy needs of all New Yorkers," said Mark Chambers, Director of Sustainability for the City of New York. "Today's announcement demonstrates how we can deliver this need at significant scale."
The energy storage system is expected to achieve commercial operation on January 1, 2023. The project will be permitted and constructed following applicable codes requirements in the State of New York.
About 174 Power Global
174 Power Global is a leading solar and energy storage company that is wholly owned by the Hanwha Group, with offices in NYC and in California. With deep expertise across the full spectrum of the project development cycle, 174 Power Global works closely with utilities, landowners, local communities, financial investors, and other partners to build highly productive, utility scale and C&I solar power plants throughout North America. Since its formation in 2017, 174 Power Global has signed nearly 2 gigawatts (GW) of power purchase agreements and has more than 6 GW of additional projects in the development pipeline. 174 Power Global’s name was inspired by the 174 petawatts (PW) of power the earth receives from the sun at any moment. For more information, visit: www.174powerglobal.com/
About Con Edison
Con Edison is a subsidiary of Consolidated Edison, Inc. [NYSE: ED], one of the nation’s largest investor-owned energy companies, with approximately $13 billion in annual revenues and $60 billion in assets. The utility delivers electricity, natural gas, and steam to 3.5 million customers in New York City and Westchester County, N.Y. For financial, operations and customer service information, visit www.conEd.com.
About NYPA
The New York Power Authority (NYPA) is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 80 percent of the electricity NYPA produces is clean renewable hydropower. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov.
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Company Provides Proxy Results for Seven Directors
MIDLAND, Texas--(BUSINESS WIRE)--Ring Energy, Inc. (NYSEAM: REI) (“Ring”) (“Company”) announced today its shareholders voted decisively to approve Mr. Paul D. McKinney as Chairman of the Board of Directors as well as all six independent directors to the Board. Collectively, all seven directors were elected to serve another one-year term which will end on the date of the 2021 Annual Meeting of Stockholders, or at such time as their successors are duly elected and qualified.
Mr. Paul D. McKinney, Ring’s Chief Executive Officer and Chairman of the Board commented, “I am humbled and inspired by the trust and support Ring’s stockholders have placed in me and the independent directors that serve with me. These six directors are men and women of impeccable character and each brings unique abilities and strengths to this Board. Their prior experience and success in varying industries will lend a high degree of diversity, insight, and wisdom as we work together to enhance shareholder value.”
About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations in Texas and New Mexico.
www.ringenergy.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2019, its Form 10Q for the quarter ended September 30, 2020 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.
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Ring Energy, Inc.
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Company partners with GE Renewable Energy and Citi to bring 171-MW project online
Project to provide clean, renewable energy to Xcel Energy – Colorado for 25 years
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy, LLC (“Leeward”) today announced that its Mountain Breeze Wind Farm (“Mountain Breeze”) in Weld County, Colorado has reached commercial operation and that the company has closed the funding under its tax equity financing for the project. Leeward procured the wind turbine equipment from GE Renewable Energy, and Citi provided tax equity financing of $162.9 million. Mountain Breeze sells its output to Xcel Energy – Colorado under a long-term power purchase agreement. Leeward also supplies renewable energy to Xcel Energy – Colorado from its nearby Cedar Creek Wind project in Weld County, and to Xcel Energy – Southwest from its Caprock Wind project in Quay County, New Mexico.
Mountain Breeze is comprised of 62 GE Renewable Energy onshore wind turbines, with a total capacity of 171 megawatts (MW). Leeward designed and constructed the greenfield project from the ground up and will own and operate the wind farm for the long-term.
Mountain Breeze received unanimous approval of the project from the Weld County Board of County Commissioners in June 2019.
“Our team has been developing the Mountain Breeze project since 2016,” said Leeward Renewable Energy Chief Executive Officer Jason Allen. “We are pleased to have reached commercial operation to provide clean, renewable energy to Leeward’s long-time customer, Xcel Energy, and are grateful to GE and Citi for their continued partnership and investment in clean energy.”
John Wycherley, Leeward Renewable Energy Vice President of Development, added, “We are also very appreciative of local landowners with whom we have great, long-standing relationships, as well as Weld County officials and other members of the community. The completion of this project would not have been possible without their support and we look forward to maintaining this collaborative relationship for years to come.”
“We are excited to see the Mountain Breeze Wind Farm online and generating carbon free energy for our Colorado customers. As a utility who is leading the clean energy transition, partnerships with companies such as Leeward are important,” said Alice Jackson, president of Xcel Energy—Colorado. “This project is one step in helping us reach the goal of providing our customers with 80% carbon free energy by 2030 and our vision of providing 100% carbon free energy by 2050.”
The project created approximately 300 jobs during peak construction and increased its contribution to Weld County in the form of property tax payments.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy is a growth-oriented renewable energy company that owns and operates a portfolio of 21 wind farms across nine states totaling approximately 2,000 megawatts of generating capacity. Leeward is actively developing new wind, solar, and energy storage projects in energy markets across the U.S. Leeward is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada's largest defined benefit pension plans with C$109 billion in net assets (as at December 31, 2019). For more information, visit www.leewardenergy.com.
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Trees, Candles and Lights Make for a Festive Celebration, but Can Represent a Fire Hazard If Not Handled Properly
SAN FRANCISCO--(BUSINESS WIRE)--Pacific Gas and Electric Company (PG&E) encourages customers to use caution and put safety first when decorating this holiday season to reduce the risk of a fire in the home. Lighting equipment, candles, menorahs and the Christmas trees can become holiday hazards and spark a devastating fire. By having a plan and making minor adjustments to decorating and cooking, the holiday season can remain festive and safe for everyone.
“We know home fires increase during the holidays, so we encourage our customers to slow down, take the right precautions and stay safe this holiday season,” said Laurie Giammona, PG&E Senior Vice President and Chief Customer Officer. “After an unprecedented year the holidays will be extra special as long as you make safety part of your smaller family celebrations.”
According to the National Fire Protection Association (NFPA), candle fires increase this month. Almost 60% of home fires involving holiday decorations were started by candles in the month of December compared to 30% in January and November. The two peak days for candle fires are Christmas Day and Christmas Eve. Also, Hanukkah is a time to pay extra special attention to candles also.
Here are some tips to keep you and your loved ones safe during the holidays:
Candle and Cooking Safety
The family Christmas tree also can become an unexpected hazard. According to the NFPA, on average, Christmas tree home fires resulted in death four times more often than home fires without a tree. Lighting equipment was involved in almost 40 percent of home tree fires.
Christmas Tree Safety
PG&E also encourages residents to create a household emergency preparedness plan and share it with the entire family. For more ways to stay safe this holiday season, visit www.pge.com/safety.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is one of the largest combined natural gas and electric energy companies in the United States. Based in San Francisco, with more than 24,000 employees, the company delivers some of the nation’s cleanest energy to nearly 16 million people in Northern and Central California. For more information, visit pge.com and pge.com/news.
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As part of Alpega’s growing partner ecosystem, this collaboration strengthens Alpega’s commitment to offer best-in-class solutions for logistics procurement.
STOCKHOLM & OSLO, Norway--(BUSINESS WIRE)--#ShapingTransportCollaboration--TenderEasy, Alpega’s cloud-based freight procurement solution announced today its global partnership with Xeneta, a freight rate benchmarking and market analytics platform providing the world's largest dataset of real-time and on-demand ocean and air freight rates.
The partnership delivers connected data between the TenderEasy procurement platform and Xeneta’s databases, providing customers with the latest information on rates for ocean and air freight as well as market insights. This gives customers of both solutions the possibility to see their performance relative to the overall market and steer negotiations to achieve the best services and rates.
In his comments about the announcement, Johan Vagerstam, CEO of TenderEasy, says, "We are thrilled to announce this partnership, after working together with Xeneta for years. Already today, we have many customers combining both solutions for greater value, and this is an important message to them – that this partnership is a real ‘value-add’ for freight buyers in today´s volatile market. We always strive to provide our customers with the best solutions to support the freight procurement process and this partnership is another step toward that goal."
“We are glad to partner with TenderEasy to deliver valuable information to shippers in a constantly-changing market, where data plays an essential role. Successful tendering requires the combination of instantly-available large amounts of neutral rate data as offered by the Xeneta platform and best-in-class procurement tools like TenderEasy,” said Patrik Berglund, CEO of Xeneta regarding the partnership.
About TenderEasy
TenderEasy is a market leading cloud solution for transport sourcing, freight tendering, freight spot request and rate management solutions.
As part of the Alpega Group, TenderEasy provides seamless integration to Alpega TMS. Our vision is to help our customers take advantage of the opportunities made possible by the digitalization of logistics and make one of the world's largest industries more efficient and sustainable.
For more information, please visit www.tendereasy.com
About Xeneta
Xeneta is the leading ocean freight rate benchmarking and market intelligence platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping stakeholders the data they need to understand current and historical market behavior – reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of over 220 million contracted container and air freight rates and covers over 160,000 global trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway, and regional offices in New York and Hamburg. To learn more, please visit www.xeneta.com.
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Katherine Barrios
Chief Marketing Officer
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Since 2000, Climate Investment Firm Has Financed More Than 600 Energy Savings Projects
ANNAPOLIS, Md.--(BUSINESS WIRE)--$HASI--Hannon Armstrong Sustainable Infrastructure Capital, Inc. ("Hannon Armstrong") (NYSE: HASI), a leading investor in climate solutions, today announced the company has exceeded $6 billion in energy efficiency investments from more than 600 individual transactions with leading behind-the-meter energy service companies serving federal, state, local and commercial energy efficiency markets since 2000.
Crossing the milestone $6 billion energy efficiency investment figure corresponds with the 20th anniversary of the creation of the company's pioneering Hannon Armstrong Multi-Asset Infrastructure Trust ("HannieMae"), the first securitization platform for financing energy efficiency at scale.
"The finance problem we solved 20 years ago addressed how to capture the pricing advantages of financing large energy projects for the benefit of smaller individual investments inherent in behind-the-meter assets like energy efficiency. HannieMae cracked the code for us two decades ago and continues to provide a means for private capital to fund energy efficiency at scale for the federal government in order to save the taxpayers money, reduce carbon emissions, create jobs, and improve the infrastructure and resiliency of the U.S.," said Hannon Armstrong Chairman and CEO Jeffrey W. Eckel. "We expect the incoming Biden administration will support further expansion and acceleration of one of America's most successful models for public-private partnerships."
Hannon Armstrong's total investments in energy efficiency projects have an average CarbonCount® score of 0.38 metric tons of CO2 equivalent ("CO2e") emissions avoided annually per $1,000 invested, as well as a WaterCount™ score of 658 gallons of water consumption avoided annually for every $1,000 invested. The estimated 21.2 million tons of CO2e avoided emissions over 20 years is equivalent to the amount of CO2e emissions from 116,390 rail cars of coal, which would stretch from Annapolis, Md. to Kansas City, Mo. when linked end to end. The 36.3 billion gallons of water consumption saved by these investments over the same period could fill three bathtubs for every person in the United States.
"The success of the HannieMae structure has provided a template for financing distributed technology at scale," said Hannon Armstrong Chief Investment Officer Nathaniel J. Rose. "Since closing the first HannieMae tranche in 2000, we have successfully leveraged the power of the structure to achieve this exciting milestone," added Rose.
Energy savings performance contracts ("ESPCs") allow federal agencies to procure energy efficiency measures and facility improvements with no up-front capital costs. According to the most current data from the Department of Energy, there are nearly $8 billion in identified energy conservation measures for federal agencies, which would save the government almost $800 million a year in energy and water-related costs. Implementing these measures would avoid approximately 3 million metric tons of CO2e emissions annually.
In addition to the ESPC structure used in the government sector, Hannon Armstrong utilizes a range of innovative methods for financing efficiency projects in the commercial and industrial sector, including Energy-as-a-Service, Energy Management-as-a-Service, and Commercial Property Assessed Clean Energy.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $6 billion in managed assets as of September 30, 2020, Hannon Armstrong's core purpose is to make climate-positive investments with superior risk-adjusted returns. For more information, please visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn and Twitter @HannonArmstrong.
Forward Looking Statements
Some of the information in this press release contains forward-looking statements and within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used in this press release, words such as "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may," "target," or similar expressions, are intended to identify such forward-looking statements. Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption "Risk Factors" included in our Annual Report on Form 10-K for our fiscal year ended December 31, 2019, which was filed with the U.S. Securities and Exchange Commission ("SEC"), as well as in other reports that we file with the SEC.
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.
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LONDON--(BUSINESS WIRE)--#PassengerCarMotorOil--Technavio has been monitoring the passenger car motor oil (PCMO) market and it is poised to grow by 508.60 million gallons during 2020-2024, progressing at a CAGR of about 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the passenger car motor oil (PCMO) market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BP Plc, Chevron Corp., China National Petroleum Corp., China Petrochemical Corp., Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Royal Dutch Shell Plc, Total SA, and Valvoline Inc. are some of the major market participants. Although the rising vehicle population leading to high consumption of PCMO will offer immense growth opportunities, the high investment needed to make changes to additive technology is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this passenger car motor oil (PCMO) market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Passenger Car Motor Oil (PCMO) Market 2020-2024: Segmentation
Passenger Car Motor Oil (PCMO) Market is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44969
Passenger Car Motor Oil (PCMO) Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The passenger car motor oil (pcmo) market report covers the following areas:
This study identifies the automotive industry marching toward the adoption of low viscosity grades as one of the prime reasons driving the passenger car motor oil (PCMO) market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Passenger Car Motor Oil (PCMO) Market 2020-2024: Key Highlights
Table of Contents:
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Viscosity Grade
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) announced today that it has launched an underwritten public offering (the “Offering”) of $150.0 million of shares of its Class A common stock (“Common Stock”). The underwriter has agreed to purchase all of the shares offered and the Company intends to grant the underwriter an option to purchase up to an additional $22.5 million of shares of Common Stock. The Company expects to use the net proceeds from the Offering for general corporate purposes.
Morgan Stanley is acting as sole underwriter for the Offering.
The Offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the registration statement (including a base prospectus) and the preliminary prospectus supplement related to the Offering may be obtained, when available, from: Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Copies of the registration statement (including the base prospectus) and the preliminary prospectus supplement relating to the Offering can be accessed free of charge through EDGAR on the U.S. Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov. A prospective investor should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and the Offering before investing.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About New Fortress Energy Inc.
New Fortress Energy Inc. (NASDAQ: NFE) 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 Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements regarding the Company’s anticipated use of the net proceeds from the Offering and other statements regarding 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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HOUSTON--(BUSINESS WIRE)--Calpine Corporation today announced the closing of $900,000,000 in aggregate principal amount of its 3.750% Senior Secured Notes due 2031 in a private placement.
The net proceeds from this offering, together with cash on hand, were used to (i) repay approximately $515 million of borrowings outstanding under Calpine Corporation’s first lien term loan facility maturing in 2024 (the “2024 First Lien Term Loan”), (ii) purchase $335 million in aggregate principal amount of its outstanding 5.250% Senior Secured Notes due 2026 (the “2026 Notes”) pursuant to a tender offer of the 2026 Notes and (iii) pay premiums, fees and expenses relating to this offering, the repayment of the 2024 First Lien Term Loan and the tender offer to purchase the 2026 Notes. Any net proceeds from the offering in excess of that used for the purposes described above will be used for general corporate purposes.
The notes will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States without registration under the Securities Act or pursuant to an applicable exemption from such registration.
This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and nor shall there be any offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. This announcement does not constitute an offer to purchase, the solicitation of an offer to sell, or a notice to redeem any of the 2026 Notes.
About Calpine
Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Our fleet of 76 power plants in operation, including one under construction, represents nearly 26,000 megawatts of generation capacity. Through wholesale power operations and our retail businesses, Calpine Energy Solutions and Champion Energy, we serve customers in 23 states in the United States and in Canada and Mexico. Our clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. We are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid.
Forward-Looking Information
In addition to historical information, this release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We use words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will,” “should,” “estimate,” “potential,” “project” and similar expressions to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. We believe that the forward-looking statements are based upon reasonable assumptions and expectations. However, you are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements.
Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Our forward-looking statements speak only as of the date of this release. Other than as required by law, Calpine Corporation undertakes no obligation to update or revise any such statements, whether as a result of new information, future events or otherwise.
Media Contact:
Brett Kerr
Vice President, External Affairs
713-830-8809
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Investor Contact:
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Senior Vice President, Finance & Treasurer
713-830-8775
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Seven-year fixed-rate time charter with Equinor Shipping extends long-term contract and distribution coverage
ABERDEEN, Scotland--(BUSINESS WIRE)--KNOT Offshore Partners LP (the “Partnership”) (NYSE:KNOP) announced today that its wholly owned subsidiary, KNOT Shuttle Tankers AS, has agreed to acquire KNOT Shuttle Tankers 34 AS, the company that owns the shuttle tanker, Tove Knutsen, from Knutsen NYK Offshore Tankers AS (“KNOT”) (the “Acquisition”). The purchase price of the Acquisition is $117.8 million, less $93.1 million of outstanding indebtedness and will be financed on a non-dilutive basis using cash on hand and borrowings under KNOP’s existing revolving credit facility.
The Tove Knutsen is a 153,000-deadweight ton DP2 Suezmax class shuttle tanker, built by Hyundai Heavy Industries and delivered in September 2020. The vessel is operating in Brazil under a seven-year time charter with Equinor Shipping Inc., providing fixed-rate firm employment through to at least the fourth quarter of 2027. The charterer has options to further extend the charter for up to 13 additional years. On closing, the Tove Knutsen will become the Partnership’s seventeenth vessel.
The Acquisition was approved by the Partnership’s Board and independent Conflicts Committee (who were supported by an outside independent financial advisor), and the Acquisition is expected to close by December 31, 2020, subject to customary closing conditions.
New $25 Million Revolving Credit Facility
The Partnership also announced that it has entered into a new $25 million revolving credit facility (the “Facility”) with Shinsei Bank, Limited. The Facility will be available to the Partnership until November 2023 and can be prepaid at any time. The margin payable on the Facility is lower than the Partnership’s current average margin of 2.1% over LIBOR.
Outlook
Gary Chapman, CEO of the Partnership, commented, “We are pleased to return to growth with a dropdown that materially strengthens KNOP’s long-term contract coverage and provides a further layer of stability and support for our consistent distribution without diluting our existing equity. The cashflow from this newly acquired vessel provides significant forward visibility and will help support distribution coverage for our unitholders in the years ahead. We are also proud to welcome Shinsei Bank to our lender group, further diversifying our access to capital with the addition of another leading Japanese financial institution.”
“Beyond our recent Q3 earnings release we have no further developments to report on the Windsor Knutsen or the Bodil Knutsen, with the current firm charter on the Bodil Knutsen running to around May 2021. Looking forward, with visibility on large, multi-year oil major capex commitments principally in offshore Brazil and the North Sea, a global orderbook for new shuttle tankers that is fully contracted and high barriers to entry for any potential new competitors, we believe that the Partnership is well positioned to benefit from the long-term growth prospects in this niche market segment where KNOP and our sponsor, KNOT, are together the market leader.”
About KNOT Offshore Partners LP
KNOT Offshore Partners LP owns, operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners LP is structured as a publicly traded master limited partnership. KNOT Offshore Partners LP’s common units trade on the New York Stock Exchange under the symbol “KNOP.”
Forward-Looking Statements
This press release contains certain forward-looking statements concerning future events and the Partnership’s operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “believe”, “anticipate”, “expect”, “estimate”, “project”, “will be”, “will continue”, “will likely result”, “plan”, “intend” or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the Partnership’s control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to:
All forward-looking statements included in this release are made only as of the date of this release. New factors emerge from time to time, and it is not possible for the Partnership to predict all of these factors. Further, the Partnership cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. The Partnership does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Partnership’s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.
KNOT Offshore Partners LP
Gary Chapman
Chief Executive Officer and Chief Financial Officer
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Tel: +44 1224 618 420
LONDON--(BUSINESS WIRE)--#apac--The Soybean Oil Market is poised to experience spend growth of more than USD 2 billion between 2020-2024 at a CAGR of over 3.71%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Request free sample pages
Read the 120-page research report with TOC and LOE on "Soybean Oil Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."
SpendEdge's reports now include an in-depth complimentary analysis of the COVID-19 impact on procurement and the latest market data to help your company overcome sourcing challenges. Our Soybean Oil Market procurement intelligence report offers actionable procurement intelligence insights, sourcing strategies, and action plans to mitigate risks arising out of the current pandemic situation. The insights offered by our reports will help procurement professionals streamline supply chain operations and gain insights into the best procurement practices to mitigate losses.
Information on Latest Trends and Supply Chain Market Information Knowledge centre on COVID-19 impact assessment
Insights into the Market Price Trends
Insights to help buyers identify and shortlist the most suitable suppliers for their Soybean Oil Market requirements. This procurement report answers the following questions:
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Insights into strategies that will help buyers optimize their category management practices. The report answers the following questions:
Some of the top Soybean Oil Market suppliers enlisted in this report
This Soybean Oil Market procurement intelligence report has enlisted the top suppliers and their cost structures, SLA terms, best selection criteria, and negotiation strategies.
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Table of Content
Executive Summary
Market Insights
Category Pricing Insights
Cost-saving Opportunities
Best Practices
Category Ecosystem
Category Management Strategy
Category Management Enablers
Suppliers Selection
Suppliers under Coverage
US Market Insights
Category scope
Appendix
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Marketing Manager
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LONDON--(BUSINESS WIRE)--#gasdistribution--BizVibe is continuing to expand the number of companies which can be discovered and tracked within their natural gas distribution category offering. Users can browse unlimited company profiles, allowing them to discover 1,000+ natural gas distribution companies, spanning across 75+ countries, which are categorized into 20+ product and services. Discover Companies for Free
Companies listed under this classification are primarily engaged in any of the following activities; operating gas distribution systems, buying gas from wells and selling it to a distribution system, arranging the sale of gas over gas distribution systems operated by others, and/or transmitting and distributing gas to final consumers. BizVibe’s detailed company profile insights help users to discover, track, evaluate, and connect with natural gas distribution companies from all over the world.
More Details: https://utilities.bizvibe.com/natural-gas-distribution/
What’s in a BizVibe Company Profile?
The 10 million+ company profiles on BizVibe’s platform contain high-quality insights, helping procurement and sales teams find trusted suppliers and target sales prospects. Some of the valuable information found in these company profiles include:
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Related Product and Service Categories
BizVibe’s natural gas distribution industry group is categorized into 20+ related products and services. Discover companies for all 20+ offerings which include:
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BizVibe lists natural gas distribution as a part of their utilities industry. This industry contains three total industry groups which all contain thousands of company profiles that can be viewed for free. There are 150,000+ utilities company profiles on BizVibe which are segmented into the following categories:
BizVibe for Buyers and Sellers
BizVibe is the modern B2B platform dedicated to connecting global buyers and sellers. Powered by the latest best-in-class solutions, BizVibe provides outstanding product features for both category managers and sales professionals.
For buyers, BizVibe helps companies quickly discover and shortlist suppliers, compare companies, create customized alerts for supplier news, and send RFI/RFPs from pre-built templates. For sales teams, Bizvibe allows users to efficiently build prospects lists, track and evaluate companies, and integrate their CRM.
This all-in-one platform was designed to equip users with all necessary tools needed to complete the entire buying/sales cycle in a single workspace.
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BizVibe has been conceptualized and built by a team based out of Toronto, Bangalore, and London. We are a branch of Infiniti Research and have dedicated units in all three locations. BizVibe helps buyers find the most relevant suppliers from around the world and help sellers target prospects who need their products and/or services. For more information, please visit www.bizvibe.com and start for free today.
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BILBAO, Spain--(BUSINESS WIRE)--#EUDefenceAgency--The Spanish company SATLANTIS MICROSATS signed in October a grant agreement with the European Commission within the first edition of the EDIDP Programme (European Defence Industrial Development Programme) through the project OPTISSE.
In it, SATLANTIS is leading a Consortium of five companies from five European countries: ColomboSky (Italy), Syrlinks (France), Astro- und Feinwerktechnik (Germany), Solaris Optics (Poland), plus Everis Aerospace and Defense (Spain) as associated partner. The Call for Proposal addressed innovative SMEs and required the support of the Ministries of Defence whose companies are represented in the Consortium. Therefore, all the Ministries will be involved in the project, acting as potential final users and generating the operational requirements.
One of the most important objectives of the EDIDP Programme is to demonstrate the contribution that European SMEs can provide to the Defence sector, with the scope to build a technological supply chain for the Union autonomy and strengthen the role of SMEs in the industrial landscape.
To celebrate the project start, the Consortium gathered in a Virtual Kick-off Meeting held on November 3rd, with the participation of the European Commission, through the Project Officer assigned to the action, and of Spain Ministry of Defence that, due to SATLANTIS leadership in the Consortium, will represent the Defence community.
The OPTISSE project consists of the development of four critical technologies for maritime surveillance missions, specifically: an advanced opto-mechanical system, an agile attitude control system, a real-time detection filter, a high data-rate transceiver for data download.
The project represents a challenge for each member of the Consortium, and especially for SATLANTIS, whose aim is to reach a 0,5m spatial resolution with a miniaturized optical payload. The company CEO, Juan Tomás Hernani, stated: “only two scenarios are foreseen within the project: one in which we will achieve the objectives with no issues, and the other one in which we will have to face important mechanical challenges. In any case, we don’t question the success of the project and the excellence of our partners.”
Maik Hartmann, Vice Director of Astrofein affirmed: "the Agility requirements that the project is demanding will translate into an advancement of the state-of-the-art for attitude control systems”.
Because success of the project and highest standards of excellence are not in question, OPTISSE may serve as an ideal testbed for subsequent endeavours.
Marta Massimiani
+34-944-344-780
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NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today the pricing of its previously announced private offering of $250 million aggregate principal amount of additional 6.750% senior secured notes due 2025 (the “Additional Notes”). The Additional Notes will be issued at an issue price equal to 105.25% of principal, plus accrued interest from and including September 2, 2020. There are $1,000.0 million 6.750% senior secured notes due 2025 outstanding as of the date hereof. The Company intends to use the net proceeds from the offering for general corporate purposes. The closing of the offering is subject to certain limited conditions.
The Additional Notes and the guarantees thereof were 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 Additional 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 Inc. (NASDAQ: NFE) 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
This email address is being protected from spambots. You need JavaScript enabled to view it.
Joshua Kane
(516) 268-7455
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Media:
Jake Suski
(516) 268-7403
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HOUSTON--(BUSINESS WIRE)--Calpine Corporation announced today the early results of its previously announced cash tender offer (the “Offer”) to purchase up to $335 million in aggregate principal amount (the “Tender Cap Amount”) of its outstanding 5.250% Senior Secured Notes due 2026 (CUSIP Nos.: 131347 CK0 / U13055 AR6 / U13055 AS4) (the “Notes”). The terms and conditions of the Offer are described in an Offer to Purchase, dated December 2, 2020 (the “Offer to Purchase”). The Early Tender Date (as defined in the Offer to Purchase) occurred at 5:00 p.m., New York City time, on December 15, 2020.
As of the Early Tender Date, $1,016,313,000 principal amount, or approximately 85.8% of the outstanding aggregate principal amount, of the Notes, had been validly tendered (and not validly withdrawn). Calpine Corporation has accepted for purchase approximately $335 million principal amount of Notes validly tendered and not validly withdrawn prior to the Early Tender Date pursuant to the Offer. Because the amount of Notes validly tendered and not validly withdrawn exceeds the Tender Cap Amount, such Notes will be accepted on a pro rata basis as set forth in the Offer to Purchase, subject to a proration factor of approximately 33.0%.
Holders who validly tendered (and did not validly withdraw) their Notes at or prior to the Early Tender Date will receive $1,047.25 per $1,000 principal amount of Notes accepted, plus accrued and unpaid interest from the last interest payment date with respect to the Notes to, but not including, December 17, 2020. Although the Offer is scheduled to expire at 11:59 p.m., New York City time, on December 30, 2020, Calpine Corporation does not expect to accept for purchase any tenders of Notes after the Early Tender Date.
J.P. Morgan Securities LLC is the dealer manager for the Offer. D.F. King & Co., Inc. has been retained to serve as both the tender agent and the information agent. Persons with questions regarding the Offer should contact J.P. Morgan Securities LLC at (866) 834-4087 (U.S. toll-free) and (212) 834-4087 (collect). Copies of the Offer to Purchase and other related materials may be obtained online at www.dfking.com/calpine or by contacting D.F. King & Co., Inc. at (toll-free) (877) 478-5043 or (collect) (212) 269-5550 or email: This email address is being protected from spambots. You need JavaScript enabled to view it..
None of Calpine Corporation or its affiliates, its board of directors, the dealer manager, the tender agent and the information agent or the trustee for the Notes, makes any recommendation as to whether holders of the Notes should tender or refrain from tendering the Notes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities, nor shall there be any sale of the Notes or any other securities in any state in which such offer, solicitation or sale would be unlawful. The Offer is made only through the use of the Offer to Purchase. The Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the Offer is required to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Calpine Corporation by the dealer manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About Calpine
Calpine Corporation is America’s largest generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Our fleet of 76 power plants in operation, including one under construction, represents nearly 26,000 megawatts of generation capacity. Through wholesale power operations and our retail businesses, Calpine Energy Solutions and Champion Energy, we serve customers in 23 states in the United States and in Canada and Mexico. Our clean, efficient, modern and flexible fleet uses advanced technologies to generate power in a low-carbon and environmentally responsible manner. We are uniquely positioned to benefit from the secular trends affecting our industry, including the abundant and affordable supply of clean natural gas, environmental regulation, aging power generation infrastructure and the increasing need for dispatchable power plants to successfully integrate intermittent renewables into the grid.
Forward-Looking Information
In addition to historical information, this release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We use words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “may,” “will,” “should,” “estimate,” “potential,” “project” and similar expressions to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. We believe that the forward-looking statements are based upon reasonable assumptions and expectations. However, you are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results to differ materially from those anticipated in the forward-looking statements. Given the risks and uncertainties surrounding forward-looking statements, you should not place undue reliance on these statements. Many of these factors are beyond our ability to control or predict. Our forward-looking statements speak only as of the date of this release. Other than as required by law, Calpine Corporation undertakes no obligation to update or revise any such statements, whether as a result of new information, future events or otherwise.
Media Contact:
Brett Kerr
Vice President, External Affairs
713-830-8809
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Contact:
W. Bryan Kimzey
Senior Vice President, Finance & Treasurer
713-830-8775
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Not for Distribution to United States Newswire Services or for Dissemination in the United States
TORONTO--(BUSINESS WIRE)--Sherritt International Corporation (“Sherritt” or the “Corporation”) (TSX:S) today announced voting results of its 2020 Annual and Special Meeting of Shareholders held today, December 15, 2020.
A total of 102,567,843 common shares or 25.82% of Sherritt’s issued and outstanding common shares were represented virtually or by proxy at the meeting. Shareholders voted in favour of all items of business put forth at the meeting, including the re-appointment of Deloitte LLP as external auditors and the non-binding advisory resolution known as “Say on Pay.” Sherritt elected to withdraw the resolution presented in the management information circular seeking shareholder approval for a proposed share consolidation.
Election of Directors
On a vote by ballot, each of the seven director nominees listed in the management information circular for the 2020 Shareholders’ meeting were elected as directors of Sherritt to serve until the next annual general meeting of the company:
Nominee |
Total Votes
|
% for |
Total Votes
|
% Withheld |
Timothy Baker |
86,043,696 |
87.72% |
12,047,140 |
12.28% |
Maryse Belanger |
83,093,945 |
84.71% |
14,996,891 |
15.29% |
Sir Richard Lapthorne |
64,078,823 |
65.33% |
34,012,013 |
34.67% |
Adrian Loader |
64,027,450 |
65.27% |
34,063,386 |
34.73% |
Lisa Pankratz |
87,138,407 |
88.83% |
10,952,429 |
11.17% |
David Pathe |
84,279,078 |
85.92% |
13,811,758 |
14.08% |
John Warwick |
87,887,693 |
89.60% |
10,203,143 |
10.40% |
The full Report of Voting Results has been filed on SEDAR at www.sedar.com.
About Sherritt
Sherritt is a world leader in the mining and refining of nickel and cobalt from lateritic ores with projects and operations in Canada and Cuba. The Corporation is the largest independent energy producer in Cuba, with extensive oil and power operations across the island. Sherritt licenses its proprietary technologies and provides metallurgical services to mining and refining operations worldwide. The Corporation’s common shares are listed on the Toronto Stock Exchange under the symbol “S”.
Joe Racanelli, Director of Investor Relations
Telephone: 416-935-2457
Toll-Free: 1-800-704-6698
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www.sherritt.com
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