STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), the premier independent owner and operator of commercial-scale solar facilities, today announced that it has been included in the MAC Global Solar Energy Stock Index (NYSE: SUNIDX), effective as of market close on June 17, 2022.
The MAC Global Solar Energy Stock Index is a passive solar energy index which includes companies from across the solar energy value chain – from energy producers utilizing photovoltaic and solar thermal technologies, raw materials, manufacturing and installing, and equipment providers. Constituent companies are added or deleted from the index after quarterly index reviews, which take effect after the third Friday of March, June, September and December of each year.
The MAC Global Solar Energy Stock Index is the tracking index for the Invesco Solar ETF, an exchange traded fund which trades on the New York Stock Exchange ARCA under the ticker symbol “TAN”.
For more information on the MAC Global Solar Energy Stock Index, go to the “Index Details” section on the MAC Global Solar Index website.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the nation’s premier clean electrification company. Altus Power serves its commercial, industrial, public sector and community solar customers by developing, owning and operating locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit www.altuspower.com to learn more.
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DUBLIN--(BUSINESS WIRE)--#KBRA--KBRA Europe (KBRA) releases a report on current funding methods for battery storage in mainland Europe and the UK, as well as the revenue streams and regulatory environment that underpin the sector’s transactions. While there is an emerging opportunity for battery storage to become an important technology in Europe’s renewable energy transition, the financial community faces challenges in funding the sector, and there are uncertainties regarding how it can achieve the requisite scale to meet its full potential.
The report notes the need for greater collaboration between sponsors developing the batteries, regulators and national policymakers setting renewable targets, and the financing community funding development. This cooperation is necessary for battery storage to be maximally useful amid profound shifts in how Europe and the UK source energy.
Key Takeaways:
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About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
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Industry Veteran to Lead EIG-Controlled LNG Company
WASHINGTON--(BUSINESS WIRE)--EIG, a leading institutional investor to the global energy and infrastructure sectors, today announced that De la Rey Venter has joined the firm as Chief Executive Officer of MidOcean Energy (“MidOcean”) and as a Managing Director of EIG. MidOcean is an EIG-controlled LNG company seeking to create a diversified “pure play” integrated LNG portfolio of high-quality operating LNG projects with strong existing cash flow. Mr. Venter is a 25-year industry veteran with global operating, dealmaking and business leadership experience in the mining, upstream and LNG sectors. Among other roles, he served as Executive Vice President of Integrated Gas Ventures, responsible for the majority of Shell’s LNG and natural gas assets, and previously also as Shell’s Global Head of LNG. He will be based in EIG’s London office.
“LNG is a key enabler of the energy transition and is increasingly a geopolitically strategic energy source,” said R. Blair Thomas, EIG’s Chairman and CEO. “EIG has long been a key capital provider to the sector and has already invested in nine LNG projects, globally, involving both liquefaction and regasification. Adding someone of De la Rey’s caliber to lead MidOcean further demonstrates our commitment to LNG and the energy transition. We welcome De la Rey aboard and are excited about the future that he will help develop for MidOcean.”
Mr. Venter added, “EIG's vision for MidOcean presents a compelling proposition for a world that will need LNG for a long time to come. We share a strong belief in the important role of LNG, as part of a family of low and no carbon gasses, to help the world transition to a Net Zero future. I look forward to working with the team to build a business of substance, based on EIG’s extensive track record in global LNG, and for this business to have real impact in this highly relevant sector of the global energy industry.”
Mr. Venter first joined Shell in 2002. In addition to his roles as EVP of Integrated Gas Ventures and Global Head of LNG, he has held diverse positions globally, including EVP Upstream Joint Ventures, EVP Gas & Power Africa, and VP Commercial in Qatar. Mr. Venter has also been responsible for Shell’s CCUS and Blue Hydrogen manufacturing themes. Mr. Venter holds an MBA with Honors from IMD in Switzerland, a Bachelor of Commerce degree (Cum Laude) from the Northwest University and an Honors Degree in Finance and Investment Management (Cum Laude) from the University of Johannesburg, both in South Africa.
About EIG
EIG is a leading institutional investor to the global energy and infrastructure sectors with $25.0 billion under management as of March 31, 2022. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 40-year history, EIG has committed $40.1 billion to the energy sector through 380 projects or companies in 38 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul. For additional information, please visit EIG’s website at www.eigpartners.com.
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Expert energy and utilities executive to leverage his 15 years of industry experience to expand company footprint in clean energy
HOUSTON--(BUSINESS WIRE)--#Audubon--Audubon Engineering Company LP (Audubon), a leading provider of engineering, procurement, construction, and fabrication services, announced today the appointment of Dr. Ahad Esmaeilian to the position of vice president, clean energy, reporting to Dave Beck, managing partner.
Based in San Francisco, Ahad brings more than 15 years of experience in the clean energy and utility sector, including in renewable and zero-carbon energy, grid modernization, energy storage, e-mobility, hydrogen, advanced fuels, and the electric and gas markets. As a member of the executive team, Ahad will lead and develop Audubon’s clean energy team, which focuses on emerging technologies for alternative fuels, hydrogen, ammonia, and renewables.
This appointment will drive Audubon’s capabilities and opportunities in the rapidly growing clean energy space. As the demand for clean power accelerates globally, Ahad will support Audubon’s commitment to providing integrated EPC services that help its clients stay ahead of energy transition challenges.
“We continually invest in our team to deliver solutions that help our valued clients meet their sustainability goals,” said Dave Beck. “Ahad is a seasoned leader who brings global energy knowledge and deep strategic and large-scale transformation expertise. I am delighted to have Ahad join us and drive our efforts to deliver results for our clients and help shape the future of Audubon and global sustainability initiatives.”
Ahad said, “I am excited to join the Audubon team in its work toward building a clean energy future. The responsible solutions we implement today not only have tremendous business value but can also ensure sustainable energy access and improve quality of life for generations to come.”
Prior to joining Audubon, Ahad served as the director of business development at Avangrid, a large US renewable energy company. He has also led New York Power Authority’s Smart Grid projects and served as a lead scientist at the Smart Grid Center of Texas A&M Engineering Experiment Service. Ahad’s additional engineering experience includes roles in transmission planning, substation and transmission EPC, and project management.
Ahad holds Bachelor and Master of Science degrees in electrical engineering from the University of Tehran, Iran. He earned his Ph.D. in electrical engineering from Texas A&M University and his Master of Business Administration from Clarkson University. Ahad is the chair of IEEE Grid Edge Technologies Conference and Exposition and an IEEE Senior Member.
On Twitter: @audubonco
About Audubon Engineering Company LP
Founded in 1997, Audubon Engineering Company LP is a leading provider of integrated engineering, construction, fabrication, and technical services. Serving the energy, power, utility, industrial, and infrastructure sectors, our end-to-end lifecycle solutions solve our clients' biggest challenges. Leveraging technology, ingenuity, and experience, we deliver outstanding project outcomes for a more sustainable tomorrow. For more information, please visit auduboncompanies.com
Ivonne Hallard
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BOSTON & WHITE PLAINS, N.Y.--(BUSINESS WIRE)--ArcLight Clean Transition Corp. II (Nasdaq: ACTD) ("ArcLight"), a publicly-traded special purpose acquisition company, announced today that ArcLight’s registration statement on Form S-4 has been declared effective by the U.S. Securities and Exchange Commission (“SEC”) relating to the previously announced business combination (the “Business Combination”) with OPAL Fuels LLC (“OPAL Fuels”), a vertically integrated producer and distributor of renewable natural gas (RNG).
ArcLight will mail the definitive proxy statement/prospectus (the “Proxy Statement”) to shareholders of record as of the close of business on June 1, 2022 (the “Record Date”). The Proxy Statement contains a notice and voting instruction form and a proxy card, relating to ArcLight’s extraordinary general meeting (the “Special Meeting”).
The Special Meeting to approve the pending Business Combination is scheduled to be held on July 15, 2022, at 9:00 a.m. Eastern Time. The Special Meeting will be held in virtual format and physically at the offices of Kirkland & Ellis LLP located at 609 Main Street, Houston, Texas 77002. The Special Meeting can be accessed via live webcast at https://www.cstproxy.com/actcii/2022. If the proposals at the Special Meeting are approved, the parties anticipate that the Business Combination will close and trading of the combined entity will commence on the Nasdaq under the new ticker symbol “OPAL” shortly thereafter, subject to the satisfaction or waiver, as applicable, of all other closing conditions.
Every shareholder’s vote is important, regardless of the number of shares held. Accordingly, ArcLight requests that each shareholder complete, sign, date and return a proxy card (online or by mail) as soon as possible and by no later than 11:59 p.m. Eastern Time on July 14, 2022, to ensure that the shareholder’s shares will be represented at the Special Meeting. Shareholders who hold shares in “street name” (i.e., those shareholders whose shares are held of record by a broker, bank, or other nominee) should contact their broker, bank, or nominee to ensure that their shares are voted.
If any individual ArcLight shareholder does not receive the Proxy Statement, such shareholder should (i) confirm his or her Proxy Statement’s status with his or her broker or (ii) contact Morrow Sodali LLC, ArcLight’s proxy solicitor, for assistance via e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or toll-free call at (800) 662-5200. Banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400.
About OPAL Fuels LLC
OPAL Fuels LLC is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (RNG) for the heavy-duty truck market. RNG is a proven low-carbon fuel that is rapidly decarbonizing the transportation industry now while also significantly reducing costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. OPAL Fuels also develops, constructs, and services RNG and hydrogen fueling stations. As a producer and distributor of carbon-reducing fuel for heavy-duty truck fleets for more than a decade, the company delivers best-in-class, complete renewable solutions to customers and production partners. To learn more about OPAL Fuels and how it is leading the effort to capture North America's harmful methane emissions and decarbonize the transportation industry, please visit www.opalfuels.com and follow the company on LinkedIn and Twitter at @OPALFuels.
About ArcLight Clean Transition Corp. II
ArcLight, led by Chairman Daniel Revers and President and Chief Executive Officer Jake Erhard, is a special purpose acquisition company formed for the purpose of effecting a capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses focused on opportunities created by the accelerating transition toward sustainable use of energy and natural resources.
About Fortistar
Founded in 1993, Fortistar is a privately-owned investment firm that provides capital to build, grow and manage companies that address complex sustainability challenges. Fortistar utilizes its capital, flexibility, and operating expertise to grow high-performing assets, first in independent power projects and now into other areas that support decarbonization. For more information about Fortistar or its portfolio companies, please visit: www.fortistar.com and follow the company on LinkedIn.
Important Information and Where to Find It
ArcLight has filed with the SEC a Registration Statement on Form S-4 (as amended, the “Registration Statement”), which includes the Proxy Statement, in connection with the Business Combination. ArcLight will mail the Proxy Statement and other relevant documents to shareholders of ArcLight as of the Record Date. ArcLight’s shareholders and other interested persons are advised to read, the preliminary proxy statement/prospectus, and amendments thereto, and, when available, the Proxy Statement in connection with ArcLight’s solicitation of proxies for its shareholders’ meeting to be held to approve the Business Combination because the Proxy Statement contains important information about ArcLight, OPAL Fuels and the Business Combination. Shareholders will also be able to obtain copies of the Registration Statement, without charge, at the SEC’s website at www.sec.gov. In addition, the documents filed by ArcLight may be obtained free of charge from ArcLight at https://www.arclightclean.com or by directing a request to: ArcLight Clean Transition Corp. II, 200 Clarendon Street, 55th Floor, Boston, MA 02116.
Participants in the Solicitation
ArcLight, OPAL Fuels and their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of ArcLight’s shareholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of ArcLight’s directors and officers, and OPAL Fuels’ directors and executive officers, in ArcLight’s filings with the SEC, including the Registration Statement.
Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements. Forward-looking statements are statements that are not historical facts and generally relate to future events or ArcLight’s or OPAL Fuels’ future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statement are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by ArcLight and its management, and OPAL Fuels and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, various factors beyond management’s control, including general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Registration Statement and other filings with the Securities and Exchange Commission (SEC), as well as (1) the inability to complete the proposed transaction; (2) factors associated with companies, such as OPAL Fuels, that are engaged in the production and integration of renewable natural gas (RNG), including anticipated trends, growth rates, and challenges in those businesses and in the markets in which they operate; (3) macroeconomic conditions related to the global COVID-19 pandemic; (4) the effects of increased competition; (5) contractual arrangements with, and the cooperation of, landfill and livestock waste site owners and operators, on which OPAL Fuels operates its landfill gas and livestock waste projects that generate electricity and RNG prices for environmental attributes, low carbon fuel standard credits and other incentives; (6) the ability to identify, acquire, develop and operate renewable projects and RNG fueling stations; (7) the failure to realize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees; (8) delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete the proposed transaction; (9) the outcome of any legal proceedings that may be instituted in connection with the proposed transaction; (10) the amount of redemption requests made by ArcLight’s public shareholders; and (11) the ability of the combined company that results from the proposed transaction to issue equity or equity-linked securities or obtain debt financing in connection with the transaction or in the future. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Both ArcLight and OPAL Fuels expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in ArcLight’s or OPAL Fuels’ expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities or the solicitation of any vote in any jurisdiction pursuant to the Business Combination or otherwise, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
OPAL Fuels
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ICR, Inc.
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ArcLight Clean Transition Corp. II
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Romeo Advances Transition to Cypress Facility, Supporting Increased Operational Efficiency, Production Scaling and Growth Trajectory
LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced the completion of the second phase of its relocation to a new state-of-the-art headquarters and manufacturing facility located in Cypress, California.
The Company has successfully moved all three of its production lines to its new Orange County facility and is now manufacturing and shipping packs to customers from Cypress. The Company will continue to operate Lab and Engineering services out of its Vernon, California site for the next several weeks.
“The new era of Romeo Power’s growth continues with the second phase of relocation to our state-of-the-art production facility and headquarters in Orange County,” said Romeo Power Chief Executive Officer Susan Brennan. “The successful relocation of all three production lines to Cypress, coupled with Lab and Engineering operations taking place in Vernon, allow us to continue manufacturing and delivering the highest quality products for our valued customers while we complete the final phase of the transition to our new facility.”
Romeo’s new 215,000 square-foot manufacturing operation in Cypress will support the Company’s growth and expansion while enhancing throughput, quality and cost-effectiveness. It also offers proximity to Los Angeles, a thriving business corridor and a diverse workforce. A total of 24,000 square feet of office space will allow for continued organizational investment in scientific, engineering and other support resources, with 191,000 square feet of factory space dedicated to pack assembly and state-of-the-art automated module manufacturing that will produce twice the capacity of the existing lines and multiple engineering laboratories that support product testing and validation.
"Our new facility validates our products, people and potential and ensures that Romeo Power is positioned to continue innovating, building and delivering advanced electrification solutions for commercial vehicles now and in the future," Brennan said.
Completion of the third and final phase of the Company’s move from Vernon to Cypress is scheduled to occur in the third quarter of 2022.
About Romeo Power
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, please follow the Company on social media @romeopowerinc or visit romeopower.com.
Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Romeo Power Inc.
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Alpha IR Group
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312-445-2870
Company further enhances home automation capabilities with top home automation partner
CHARLOTTE, N.C.--(BUSINESS WIRE)--Hayward Holdings, Inc. (NYSE: HAYW) (“Hayward”) today announced that OmniLogic control will now be available on Savant Home smart systems, allowing users to seamlessly manage their pool, spa or other devices connected to Omni® from a Pro Remote or similar control device.
OmniLogic, Hayward's cloud-based automation platform, has long set the industry standard for control and management—offering streamlined control from the top-rated mobile app, Apple Watch® and most voice-enabled smart devices (via Amazon® Alexa® and Google Assistant®).
Savant Home, a product of Savant Systems, Inc., offers customers the most diverse portfolio of DIY and professionally installed smart products across a network of authorized integrators. Available at thousands of leading retail stores, Savant Home provides users with total control over their home theater, speakers, smart lighting, climate control, security and more.
The OmniLogic integration with Savant Home devices enables users to extend their home automation capabilities into the backyard, providing a new dimension of smart control for many Hayward and Savant users alike. Notably, it will allow pool owners to set water temperature and pump speeds, change lighting colors/themes, manage water chemistry and much more—directly from Savant control devices.
“The Omni platform is all about simplicity,” said Matt Kimball, Vice President of Marketing at Hayward. “At Hayward, we want to provide consumers with intuitive, easy-to-use automation solutions. Savant is a great partner who has mastered the art of refined simplicity without compromising power or performance.”
For more information about Hayward products and platforms, visit hayward.com.
For more information about Savant products and platforms, visit savant.com.
About Hayward Holdings
Hayward Holdings, Inc. (NYSE: HAYW) is a leading global designer and manufacturer of pool equipment and technology all key to the SmartPad™ conversion strategy designed to provide a superior outdoor living experience. Hayward offers a full line of innovative, energy-efficient and sustainable residential and commercial pool equipment, including a complete line of advanced pumps, filters, heaters, automatic pool cleaners, LED lighting, internet of things (IoT) enabled controls, alternative sanitizers and water features.
About Savant Systems
Headquartered in Massachusetts, Savant Systems, Inc., is a global leader in smart home, intelligent lighting and energy solutions for consumers, businesses, utility companies and more. Along with GE Lighting, a Savant company and Savant Power, Savant Systems, Inc. offers the most diverse portfolio of DIY and professionally installed smart products available at thousands of leading retail stores and through a network of authorized integrators. Engineered to customize any space, Savant’s innovative solutions unite all the vital pillars of any connected environment – climate, lighting, entertainment, security and energy – together into a premier integrated experience controlled by intuitive award-winning software for iOS and Android.
Google Assistant® is a trademark of Google, LLC and Amazon® and Alexa® are trademarks of Amazon Technologies, Inc. Neither of these companies are affiliated with Hayward Industries, Inc. nor endorses this product.
Investor Relations:
Hayward Investor Relations
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Media Relations:
Tanya McNabb
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NEW YORK--(BUSINESS WIRE)--#KBRA--KBRA releases research on the key issues affecting the residential solar loan industry, including the U.S. Department of Commerce investigation into Chinese companies potentially circumventing U.S. tariffs, net metering legislation, and rising energy prices. The report also details the potential implications, in KBRA’s view, that each issue poses on the solar industry. Several of the issues have a direct impact on residential solar loan ABS and will shape the sector over the near and long term. While the focus of the report is the residential solar loan ABS industry, many of the issues also impact the residential solar power purchase agreement (PPA)/lease sector as well as the solar commercial and industrial (C&I) sectors.
Click here to view the report.
Related Reports
About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Maxim Berger, Director, Consumer ABS
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AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, and Cummins Inc. (NYSE: CMI) (“Cummins”), a global power solutions provider, today announced the two companies are joining forces to optimize the Cummins natural gas engine as the generator for the Hypertruck ERX powertrain.
Together the companies plan to obtain key environmental certifications for Cummins’ natural gas internal combustion engines to be used in Hyliion’s Hypertruck ERX powertrain. The Hyliion Hypertruck ERX is an electric range extender semi-truck powertrain solution using onboard power generation to recharge the batteries.
“We are excited to work with Hyliion to offer this range extender electric and natural gas powertrain in the North America heavy duty truck market,” said J. Michael Taylor, General Manager Global Powertrain Integration, Cummins Inc. “Natural gas solutions are an integral part of our journey towards zero emissions. Integrating our engine with the Hyliion Hypertruck ERX solution is key to offering our customers a portfolio of powertrains across many fuel options to meet their sustainability goals.”
The Hyliion Hypertruck ERX offers 75-miles of electric range to qualify for credits under CARB’s upcoming ZEV mandates and can achieve up to 1,000 miles of full range through the generator, greatly reducing range anxiety. Cummins’ ISX12N will be optimized with the Hyliion Hypertruck ERX, so that it can use the existing 700 natural gas stations across North America for low cost refueling.
Hyliion and Cummins are two of the companies leading the industry-wide movement to use alternative fuels to move more quickly toward zero-emissions, with improved fuel-efficiency and economic value for customers while also meeting more stringent EPA and CARB certifications.
“With the shared goal of making commercial trucking more sustainable, our collaboration with Cummins will undoubtedly benefit the transportation industry. Attaining EPA and CARB certifications is a key step on our production path, and I look forward to working with Cummins to get our Hypertruck ERX on the road and making a positive impact on the environment,” said Thomas Healy, Founder and CEO of Hyliion.
Start of production for the Hypertruck ERX with the ISX12N Cummins natural gas power is anticipated to begin in late 2023.
About the Hypertruck ERX
The Hypertruck ERX™ is an electric powertrain that is recharged by an onboard natural gas generator for Class 8 commercial trucks that aims to provide lower operating costs, emissions reductions, and superior performance. Utilizing the 700+ commercial natural gas vehicle filling stations across North America, it enables long range and quick refueling, and when fueled with renewable natural gas, can provide net-negative carbon emissions to commercial fleets.
About Hyliion
Hyliion’s mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
About Cummins Inc.
Cummins Inc., a global power technology leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. The company’s products range from internal combustion, electric and hybrid integrated power solutions and components including filtration, aftertreatment, turbochargers, fuel systems, controls systems, air handling systems, automated transmissions, electric power generation systems, microgrid controls, batteries, electrolyzers and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 59,900 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $2.1 billion on sales of $24 billion in 2021. Learn more at cummins.com.
Forward Looking Statements
The information in this press release includes “forward-looking statements” 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. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Hyliion Holdings Corp.
Ryann Malone
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Sharon Merrill Associates, Inc.
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Invests up to € 25 million to scale business in international markets for Energy Communities.
COIMBRA, Portugal--(BUSINESS WIRE)--Verdane, the European specialist growth equity investor, through its impact fund Idun, has invested in Cleanwatts, an energy software company on a mission to accelerate global energy decarbonization and alleviate energy poverty. Cleanwatts, which grew year-on-year revenues by 65% in 2021 and expects 2022 revenue growth of more than 200%, offers innovative energy management solutions that help local communities unlock the benefits of optimized renewable energy consumption, generation, storage, trading, and balancing. The partnership, in which Verdane is set to invest up to EUR25m, will draw on Verdane’s deep expertise of scaling SaaS companies, international network and in-house team of operating specialists.
Cleanwatts is a Portuguese energy management software company that deploys renewable energy communities (RECs) in countries with advanced legal frameworks and policies that enable the activation of local energy markets. The company operates in Portugal (HQ), Italy, Spain, and the United States, with plans to expand further into Europe and Asia. REC members can include residents, commercial and industrial businesses, municipal buildings, schools, hospitals, and universities that collectively contribute to the clean energy transition while advancing energy efficiency, lowering electricity bills, and creating jobs within the local economy. By supporting citizen and commercial participation IoT enabled energy load management, energy communities can also help provide flexibility and local grid resiliency through demand-response and storage.
Cleanwatts is in the process of building more than 80 energy communities, several of which are already operational. Currently, the company manages and controls two terawatt hours of energy – the equivalent of over 500,0001 households’ annual consumption – and runs over 15MW in aggregated rooftop solar PV capacity through Cleanwatts™ OS, its modular operating system designed to manage energy communities. Cleanwatts REC members can lower their average energy costs by up to 60%.
In keeping with the company’s goal of removing friction and complexity from the launch of RECs, Cleanwatts complements its digital offering with zero upfront investment requirements for the adoption of distributed energy resources, including PV solar capacity, energy storage systems, EV charging infrastructure and electrification of heating and cooling.
Cleanwatts plans to allocate Verdane’s investment primarily to accelerate and expand its commercial presence in target markets, and to further develop Cleanwatts™ OS to anticipate evolving needs in local energy markets. Together with Verdane, the company will also assess M&A possibilities if and where accretive to the Cleanwatts value proposition. To meet growing market demand for its services, the company expects to grow headcount by 50% over next 6-12 months, adding 40+ resources to its current team of 70 in Europe and the US.
Verdane’s investment coupled with Cleanwatts’ unique and innovative capabilities, will enable Cleanwatts to tackle the world’s energy poverty problem, which is defined as the “lack of access to sustainable modern energy services and products,” by the WEF. Energy poverty affected between 50 and 125 million people across Europe in 20202 - a figure that has increased dramatically due to Russia’s invasion of Ukraine and record-high inflation.
Michael Pinto, CEO and Co-Founder of Cleanwatts, commented: “Mitigating the rising cost of energy and supply constraints, while responding to an increasing demand for electricity and meeting decarbonization targets is an enormous global challenge. Fortunately, digitally enabled RECs now represent both an effective and efficient solution to address these problems. A wide range of viable technologies and regulatory frameworks are finally in place for our society to reframe its relationship with energy and pave the way for a cleaner, fairer, and more sustainable future. We are proud to partner with Verdane to address the rapid paradigm shift towards a more efficient and resilient decentralized energy network.”
Bjarne Kveim Lie, Co-Founder & Managing Partner at Verdane, said: “Our team is impressed by Cleanwatts’ potential to provide a global solution to a local problem that is causing tens of millions of households in the US and the UK to forego food and medicine to pay energy bills or to go without electricity at all for parts of the year. We look forward to deploying our extensive experience scaling SaaS businesses and harnessing our in-house team of operating experts to power Cleanwatts through this critical scaling phase of its growth journey.”
Verdane Idun is classified as “Article 9” under the European Union’s Finance Disclosure Regulation and closed in January 2022 at its hard cap of € 300 million, over its target fund size of € 225 million. Idun makes investments focused on driving impact in three clusters: energy transition; sustainable consumption; and resilient communities. Previous investments include Auntie, a digital provider of workplace wellbeing services; in Spond, a digital enabler of grassroot sports and physical health; and EVA Global, a managed services provider supporting the global shift to electric vehicles. To date, Verdane has invested in over 30 sustainable society businesses.
About Cleanwatts
Cleanwatts is a clean tech company resolutely focused on simplifying, amplifying, and accelerating the energy transition for local communities around the world. We generate value through Cleanwatts™ OS, our modular, highly interoperable, and localizable platform designed to address energy related needs in local energy market settings. We operate behind the meter and in front of the meter, seamlessly connecting the dots between energy generation, storage, consumption, trading and balancing at every level of an energy community. We also combine our digital offering with zero upfront investment solutions to remove friction from the incorporation of distributed energy resources that drive the energy transition, including PV solar capacity, energy storage systems, EV charging infrastructure and electrification of heating and cooling for the built environment. We are building a world in which clean energy is decentralized, digitalized, and democratized.
More info: www.cleanwatts.energy
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About Verdane
Verdane is a specialist growth equity investment firm that partners with tech-enabled and sustainable European businesses to help them reach the next stage of international growth. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy behind three core themes: the Digital Consumer, Software Everywhere and Sustainable Society. Verdane funds hold over €4 billion in total commitments and have made over 140 investments in fast-growing businesses since 2003. Verdane’s team of over 100 investment professionals and operating experts, based out of Berlin, Copenhagen, Helsinki, London, Oslo, and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
More info: www.verdane.com
Follow Verdane on LinkedIn
1 Assuming an average consumption of 2.5 and 5MWh per year
2 https://ec.europa.eu/energy/eu-buildings-factsheets-topics-tree/energy-poverty_en
Giovanni Rossi - This email address is being protected from spambots. You need JavaScript enabled to view it.
Investment banking, operations, and commercial growth expert brings over two decades’ experience positioning disruptive innovations, including cleantech for concrete manufacturing
PISCATAWAY, N.J.--(BUSINESS WIRE)--#CO2--Solidia Technologies®, a leading provider of decarbonization technologies and sustainable solutions to the construction and building materials industries, today named investment banking, operations, and commercial growth expert Kathleen Walton chief financial officer. A specialist in mergers and acquisitions, securities, and scaling innovation, Walton brings over two decades of experience in executive management and consulting, helping position disruptors across a variety of industries, including cleantech for concrete manufacturing, consumer fintech, food and agriculture, and private equity-backed marketing services.
“I’m thrilled to join Solidia’s leadership team at this exciting stage of commercialization to help grow the business and elevate the global building materials industry with sustainable technologies,” said Walton. “Scaling industry-disrupting innovations takes working efficiently, optimizing time and resources, evolving internally, and seamlessly pivoting as opportunities for market growth and new applications arise.”
Walton comes to Solidia after serving as CFO of NITROcrete, LLC, a technology-based service provider in the concrete industry initially backed by Mantucket Capital. During her tenure, she professionalized operations, opened subsidiaries in Mexico and Brazil, raised debt capital, restructured over $15 million of debt, reduced costs, and executed on a 363 sale to a strategic investor.
Prior to that, as principal of KCoe Isom, an accounting and consulting firm with 15 locations across the US and nearly 400 employees, she established a strategic finance group that included investment banking services. She provided CFO services to clients in a variety of industries, advising them on growth strategies and capitalization issues. She was elected to the partnership board within two years of joining the firm, and elected Chairman a year later. Walton also previously served as principal in two private equity firms and practiced corporate law in Chicago.
In addition to her chairmanship at KCoe Isom, Walton has served on the boards of Agworld (recently sold to Semios) and NITROcrete. She earned her undergraduate degree from the University of Wisconsin and a juris doctorate from the University of Wisconsin Law School.
“Kathleen has dedicated her career to increasing operational efficiency and financial security across industries, including in nascent technology sectors, and we’re very grateful to have her as a member of our leadership team,” said Solidia CEO Russell Hill. “Solidia is the right technology at the right time. With Kathleen on board, we are even better positioned to accelerate commercialization and usher in the next generation of sustainable building materials.”
About Solidia Technologies®
Based in Piscataway, N.J. (USA), Solidia Technologies® is a leading provider of decarbonization technologies and sustainable solutions to the construction and building materials industries. Investors include Imperative Ventures, Zero Carbon Partners, Canada Pension Plan Investment Board (CPP Investments), Breakthrough Energy Ventures, Prelude Ventures, PIVA Capital, John Doerr, BP, OGCI Climate Investments, Bill Joy, Kleiner Perkins, BASF Venture Capital, Holcim, Total Carbon Neutrality Ventures, Air Liquide Venture Capital (ALIAD), and other private investors. Follow Solidia on LinkedIn, Instagram, Twitter, and YouTube.
Ellen Yui, YUI&Company, Inc.
o: 301-270-8571, m: 301-332-4135
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DUBLIN--(BUSINESS WIRE)--The "Solar Control Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global solar control glass market reached a value of US$ 5.46 billion in 2021. Looking forward, the market is projected to reach a value of US$ 9.38 billion by 2027, exhibiting a CAGR of 9.20% during 2022-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different End-use sectors. These insights are included in the report as a major market contributor.
Solar control glass refers to a kind of glass with a special coating that is precisely manufactured to reduce the extent of heat entering a specific space. The solar control coating on the glass reflects heat from the sun back, outside of the area it has been installed on, such as a building, automotive, or a greenhouse. It significantly reduces the amount of heat that can pass through, thereby providing a more usable and comfortable space.
Along with absorbing and reflecting heat, these glasses also filter out light and offer reduced glare, thus maintaining a cozier interior in summers and reducing the need for air-conditioning. A varied range of aesthetics, such as reflective, tinted, and neutral, are offered by different types of solar control glasses. A combination of solar control glasses with LOW-E thermal insulation in dual glazing windows with self-cleaning systems provides optimal temperature all year round.
The global market is primarily driven by the increasing adoption of solar control glasses in automobiles. Since they reduce the heat load on the vehicle while minimizing the need for air conditioning, this results in higher mileage and reduced fuel consumption. This is further supported by the widespread preference of consumers toward cost-effective and energy-efficient vehicles.
Significant demand for solar control glass in residential and commercial buildings due to the rising awareness regarding the high air conditioning costs is also acting as a major growth-inducing factor. In addition to this, rapid urbanization, the escalating concerns regarding carbon dioxide emissions, growing consciousness regarding climate change, and the expansion of smart construction activities are some of the other factors contributing to the market growth across the globe.
Key Questions Answered in This Report
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Solar Control Glass Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Glass Type
7 Market Breakup by Coating Method
8 Market Breakup by Nature
9 Market Breakup by Application
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/pe4kzq
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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The Company bolsters its End-of-Arm Tooling capabilities with tactile feedback for underwater manipulation
PITTSBURGH--(BUSINESS WIRE)--#robotics--RE2, LLC, a wholly owned subsidiary of Sarcos Technology and Robotics Corporation (“Sarcos”) (NASDAQ: STRC and STRCW), today announced that it has achieved a significant technical milestone with its Strong Tactile mARitime hand for Feeling, Inspecting, Sensing and Handling (STARFISH), an underwater end-of-arm tooling (EOAT) project being funded through the U.S Navy’s Office of Naval Research (ONR). STARFISH is an advanced gripper EOAT with tactile feedback that is being developed for mine countermeasures and explosive ordnance disposal (EOD) for the U.S. Navy. With this technical milestone, the company has successfully assembled and lab-tested a complete STARFISH gripper capable of grasping and holding a variety of different objects.
During lab testing, the STARFISH prototype used three tactile-sensing fingers to successfully achieve a variety of fine- and large-gripping skills, including squeezing a pair of tweezers and grasping larger objects. Each finger conforms to the shape it is grasping, enabling it to securely hold objects upon contact.
The Company is developing this technology with professors Dr. Veronica Santos, director of the Biomechatronics Laboratory at UCLA, and Dr. Jonathan Posner, professor of mechanical engineering and chemical engineering at the University of Washington. Dr. Posner’s team, in collaboration with Dr. Santos’ team, designed the multimodal tactile sensor skin that enables the grippers’ sensorized fingertips to feel normal and shear forces.
“When visual feedback is limited, complementary senses such as touch play a critical role in completing dexterous tasks,” explains Santos. “This is true for humans as well as for robots remotely controlled by humans. Tactile sensation will enhance the teleoperation and semi-autonomous control of underwater robot hands for difficult manual tasks.”
“STARFISH uses advanced touch sensors and next-generation haptic feedback to provide robot operators with the last link in terms of robotic perception capabilities—the ability to ‘feel’ objects in the environment,” said Dr. Adam Brant, project manager, Sarcos. “This will enable EOD personnel to locate, sense, and interact with objects they both can and cannot visualize from a remote, safe distance.”
The gripper uses an advanced array of visual and underwater sensors to orient itself to its environment. It will operate in hazardous underwater environments that would typically damage end effectors, including turbidity, ocean swells, and other dynamic underwater conditions. Data collected from the hand’s interactions within the environment will be sent back to the operator control unit (OCU), allowing the operator to perform complex manipulation tasks from a remote location.
“STARFISH significantly advances the capabilities of underwater robotics across a variety of military and commercial applications,” said Jorgen Pedersen, Chief Operating Officer, Sarcos. “Adding the STARFISH EOAT to our Sapien Sea Class robotic arms will provide robot operators with even greater mobility, visualization, and dexterity in precarious underwater environments.”
During the next phase of the project, the STARFISH grippers will be attached to Sapien Sea Class underwater arms, which will then be mounted on an underwater ROV and tested in a subsea environment.
About Sarcos Technology and Robotics Corporation
Sarcos Technology and Robotics Corporation (NASDAQ: STRC and STRCW) is a leader in industrial robotic systems that augment human performance by combining human intelligence, instinct, and judgment with the strength, endurance, and precision of machines to enhance employee safety and productivity, enable remote operations and reduce operational costs. Sarcos’ mobile robotic systems, including the Guardian® S, Guardian® GT, Guardian® XO®, and Guardian® XT™, along with the Sapien family of robotic arms from RE2, RE2 Detect computer vision software, and RE2 Intellect autonomy software, are designed to revolutionize the future of work wherever physically demanding work is done. Sarcos is headquartered in Salt Lake City, Utah, and now has a second location in Pittsburgh, PA. For more information, please visit www.sarcos.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Sarcos’ product roadmap, including the expected timing of commercialization or new product releases,; products and markets of each company; the expected benefits of the acquisition of RE2 and Sarcos’ ability to realize those benefits; Sarcos’ performance following the acquisition of RE2, customer interest in Sarcos’ products, Sarcos’ plans to expand its product availability and Sarcos’ use of capital, including Sarcos’ ability to accomplish the initiatives outlined above. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or “continue” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These forward-looking statements are based on Sarcos’ management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Sarcos is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports which Sarcos has filed or will file from time to time with the Securities and Exchange Commission (the “SEC”). In addition to factors previously disclosed in Sarcos’ reports filed with the SEC and those identified in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: Sarcos’ ability to execute on its business strategy, address staffing shortages and supply chain disruptions, launch its products within expected timelines, develop new products and services and enhance existing products and services; ability to respond rapidly to emerging technology trends; ability to compete effectively, recruit and retain qualified personnel and manage growth and costs; the risk of litigation or regulatory actions in connection with the acquisition of RE2; the ability of Sarcos to successfully integrate RE2’s operations, personnel, products and technologies; the risk that the anticipated benefits of the acquisition of RE2 may not be realized or may take longer than anticipated to be realized, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the economy and competitive factors in the areas where Sarcos and RE2 do business; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in documents filed from time to time with the SEC. The documents filed by Sarcos with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov.
Ben Mimmack
(801) 419-0438
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AUSTIN, Texas--(BUSINESS WIRE)--#CarbonNeutral--CLEAResult, the largest provider of energy efficiency, energy transition and decarbonization solutions in North America, announced today the acquisition of Ecofitt, Canada’s leading residential energy efficiency program implementer for utilities, retailers and distributors. The acquisition brings together the two most trusted energy efficiency teams in Canada, giving both companies more opportunities to scale the impact of their decarbonization efforts from coast to coast.
CLEAResult has nearly 20 years of experience providing energy savings to people, homes and businesses of all sizes directly and on behalf of North American utility partners. In Canada, CLEAResult is the leading provider of commercial and industrial energy efficiency programs and has a growing portfolio of residential and income-eligible services.
“Ecofitt’s portfolio of products and services is a perfect match for continuing to grow our presence in Canada’s energy efficiency market,” said Rich McBee, CEO of CLEAResult. “With their deep experience serving the energy efficiency needs of local communities across Canada and our innovation and investment in energy transition and decarbonization solutions, we’re both better positioned than ever to expand our portfolio and reduce energy use nationwide.”
President and founder, Jason Santomero, along with his full team at Ecofitt will be joining CLEAResult’s existing operations in Canada. “We’ve been really impressed with CLEAResult’s breadth of energy efficiency expertise and capability across North America,” said Santomero. “We’re thrilled to join the team and bring that same forward-thinking leadership to our customers here at home.”
As part of the acquisition, distribution of Ecofitt’s proprietary line of energy efficiency products will integrate with CLEAResult’s existing channels and expand access to savings for everyone. Across the country, Canadian residential energy users can look forward to more opportunities to save money and reduce their carbon footprint.
About CLEAResult
CLEAResult is the largest provider of energy efficiency, energy transition and decarbonization solutions in North America. Since 2003, our mission has been to change the way people use energy. Today, our experts lead the transition to a sustainable, equitable, and carbon-neutral future for our communities and our planet. Our hometown teams collaborate with a diverse network of local partners to deliver world-class technology and personalized services that make it easy for commercial and industrial businesses, governments, utilities and residential customers to reduce their energy use and carbon footprint. CLEAResult is headquartered in Austin, Texas, and has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult is majority owned by TPG through its middle market and growth equity investment platform TPG Growth and its multi-sector global impact investing strategy The Rise Fund.
Explore all our energy solutions at clearesult.com.
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Amber Tester
Director Corporate Communications
Sunlight is a Lenovo Innovator Program partner and an NVIDIA Inception member
CAMBRIDGE, England--(BUSINESS WIRE)--#ai--Sunlight.io, the edge infrastructure company, today announced support for the NVIDIA Jetson™ edge AI platform, and the Lenovo SE70, with the launch of its beta program — ‘Project Rosie.’ Sunlight NexVisor is the first full hyperconverged stack to support the Arm-CPU-based NVIDIA Jetson. Sunlight NexVisor coupled with the Lenovo SE70 makes it easy to deploy AI applications anywhere at the edge. Application developers can be the first to access the technology and test their AI applications by applying here.
AI is a ‘killer application’ at the edge where it is bringing real-time “insight to action” across a wide range of use cases. For example, computer vision — combining cameras, video streaming and analytics — is being implemented at drive-thrus nationwide for faster and more personalized food ordering; on manufacturing production lines to instantly identify and remove faulty items; and across smart cities to enhance population and crowd security. These sorts of AI applications need high levels of processing power with low latency and reliable networking in order to give real-time results.
Enterprises want to replicate the simplicity of the hyperconverged infrastructure they enjoy in their core data centers for their edge AI applications. However, datacenter HCI isn’t able to run in the constrained environments that exist at the edge due to their large RAM and CPU overhead and lack of edge management capabilities. This makes edge deployments extremely resource intensive to manage and hard to scale.
Sunlight NexVisor is the only hyperconverged stack that is able to run on both x86 and Arm architectures and with a tiny footprint suitable for constrained edge environments. It includes centralized management and application deployment capabilities. NVIDIA Jetson is the world's leading platform for AI at the edge. NVIDIA Jetson modules are small form-factor, high-performance computers containing an Arm processor and GPU. The combination of Sunlight NexVisor and the NVIDIA Jetson-powered Lenovo ThinkEdge SE70 makes it possible to run demanding edge AI applications in harsh environments that span hundreds or thousands of sites with easy single-pane-of-glass management, low TCO and tiny power and space requirements. Sunlight is a member of NVIDIA Inception, a global program designed to nurture cutting-edge startups.
Scott Tease, Lenovo’s VP for HPC and AI said, "Our customers realize the advantages of edge AI and deploying solutions closer to the point of data capture to run real-time inferencing. That is why we are so excited to be partnering up with Sunlight as they support our edge portfolio to significantly improve the efficiency and economics of AI deployments for customers worldwide."
“We are excited to launch this exclusive beta program for users who need to run efficient, manageable AI out where the data is generated — at the edge,” said Julian Chesterfield, Founder and CEO of Sunlight. “Sunlight already offers full support for the Lenovo ThinkEdge and ThinkSystem range, including the Intel-based SE30, SE50, SE350 and SE450. Together, we’ve been able to produce a truly industry-first solution by combining Sunlight’s turn-key, edge-as-a-service offering with Lenovo’s leading AI edge platform powered by NVIDIA Jetson. Sunlight was born out of a collaboration with Arm back in 2013 to build a lightweight hypervisor, and we’re seeing huge demand for the use of Arm-based servers at the edge due to their performance and power-efficiency.”
About Sunlight
The Sunlight Edge is a reliable, secure, zero-touch and economic infrastructure that helps turn your critical edge data into real-time insight and action across your retail stores, manufacturing lines and smart cities.
Sunlight makes running and managing applications and infrastructure at the edge as easy as in the cloud. Sunlight works with efficient, ruggedized edge hardware — so you can consolidate all of your in-location edge applications with full isolation, security and high availability.
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Hannah Mellow
Marketing Director
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IDE will bring sustainable water solution to Brazil’s drought-stricken city of Fortaleza
KADIMA, Israel--(BUSINESS WIRE)--IDE Technologies, a world leader in desalination and water treatment solutions, today announced that it will design, engineer and supply a seawater reverse osmosis (SWRO) desalination plant in northern Brazil, bringing a new, sustainable water solution to the region. Secured through the Water and Sewage Company of the State of Ceará, and in partnership with Marquise Infrastructure, the leader company of the Águas de Fortaleza Consortium, the Fortaleza Desalination Plant will be the newest IDE-engineered desalination plant and the largest desalination plant in Brazil. The plant will serve the city of Fortaleza, capital of Ceará.
The Fortaleza Desalination Plant will have a nominal production capacity of 86,400 m3 of potable water per day, (1,000 liters per second), bringing high-quality water to the municipality of the city of Fortaleza. The project is a permanent, secure and sustainable fresh water source for this semi-arid region and its increasing population of more than 720,000 people. IDE will supply equipment for the plant in accordance with Brazil’s stringent environmental requirements and regulations. The project supports the government’s objective to increase the supply of potable water in the region by 12 percent.
“As a world leader in water technology, with extensive expertise in desalination technology, IDE is proud to bring our industry-leading solution to Brazil, and specifically to Fortaleza where the population is in need of a sustainable, reliable water source,” said Lihy Teuerstein, CEO, IDE Assets. “We are confident this new desalination plant will successfully suit and exceed the needs and goals of Fortaleza.”
“We are excited about the progress of this massive project and look forward to the benefits this desalination technology with bring to the region and people of Fortaleza,” said Renan Carvalho, Director of SPE, Marquise Infrastructure.
The Fortaleza Desalination Plant in Brazil will join the ranks of many notable IDE-engineered plants across the globe, including those in the U.S., Israel, Chile, India, Singapore and Taiwan.
For more information on IDE Water Technologies’ desalination technology and other comprehensive water solutions, please visit, https://www.ide-tech.com.
About IDE Technologies
A world leader in desalination and water treatment solutions, IDE specializes in the development, engineering, construction, and operation of some of the world's largest and most advanced thermal and membrane desalination facilities and industrial water treatment plants. IDE partners with a wide range of customers – municipalities, oil & gas, mining, refineries, and power plants – on all aspects of water projects and delivers approximately 3 million m3/day of high quality water worldwide.
For more information, visit www.ide-tech.com.
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PAN Communications for IDE Technologies
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Multi-million-dollar project will enable conversion of Réunion Island power station to biomass, reducing emissions by 84%
RÉUNION ISLAND--(BUSINESS WIRE)--Global technology and software company Emerson (NYSE: EMR) has been selected by Albioma (PAR: ABIO), a French independent energy provider, to help transition its coal-fired Bois Rouge plant to 100% renewable energy. As part of Albioma’s wider mission to transition all of its existing fossil fuel plants to renewable energy, Emerson’s automation systems and software will enable the coal-fired power station to convert to biomass feedstock.
The multi-million-dollar project is the latest example of how Emerson technologies are helping customers accelerate their transition to more sustainable energy. The power plant, one of three that Albioma operates on Réunion Island in the Indian Ocean, will be converted to use 100% biomass wood pellets. The overhaul of the 108-megawatt facility will reduce greenhouse gas emissions by approximately 640,000 tons of CO2 equivalent per year, an 84% decrease in direct emissions compared to current operating levels.
“Our aim as a company is to reach almost 100% renewable energies by 2030 at the latest, and the complete discontinuation of coal at our flagship site represents a major milestone in this green revolution,” said Pascal Langeron, chief operating officer, Réunion Island of Albioma. “Emerson is an automation partner with whom we have a trusted relationship and whose extensive experience and expertise in biomass power plants will be crucial to this project being completed on schedule.”
The Bois Rouge plant consists of three generating units. Two units are already controlled by Emerson’s Ovation™ distributed control system, which will be modified for use with biomass feedstock, and the third unit will be replaced with a new Ovation system. The units will also be modernized with new turbine protection and health monitoring systems, safety systems for the boilers, and upgraded boiler control elements and instrumentation.
To ensure the project is completed within the available timeframe – a critical requirement of Albioma – Emerson will provide its Project Certainty methodologies, digital technologies and software expertise. In addition to delivering local engineering support for the project, Emerson will provide its Remote Virtual Office (RVO) collaboration platform – a secure virtual engineering and testing environment that will enable Albioma to access Emerson’s resources and ongoing support to reduce project risk and costs.
“Emerson has a vital role to play in the global transition to a sustainable energy future by supporting customers in their conversion projects,” said Bob Yeager, president of Emerson’s power and water business. “Our automation technologies, software, solutions and biomass project expertise will help Albioma operate Bois Rouge at peak performance, while also benefiting the environment by achieving a very significant reduction in carbon dioxide emissions.”
Work on the transition project will begin during a planned outage in June 2022 and is scheduled to be completed within five months.
Additional resources:
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
For Emerson
Denise Clarke
512.587.5879
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IRVINE, Calif.--(BUSINESS WIRE)--Rivian opens three fast charging sites this week in Colorado and California, the first deployments in its nationwide Rivian Adventure Network. These “Level 3” DC fast charging sites will initially provide over 200 kilowatts of power, allowing Rivian drivers to add as much as 140 miles of range in just 20 minutes and creating new opportunities for sustainable adventure far from home.
The first Rivian Adventure Network site in Salida, Colorado opened to the public on Monday, June 27 with four chargers, including a pull-through charger to accommodate vehicles towing trailers. The site also hosts four “Level 2” Rivian Waypoints chargers, which are available for use by any EV – not just Rivian vehicles – through the Rivian smartphone app. Thanks to its natural beauty and abundant nearby recreational opportunities, Salida is an ideal location for Rivian’s first fast charging site. The second and third Adventure Network sites in Inyokern and Bishop, California, will open on June 28 and 29. These California sites support frequently visited areas like Yosemite National Park, Sequoia National Forest, Mammoth Lakes, and Death Valley National Park.
“We designed Rivian charging to support electrified adventure, and these first sites demonstrate how we’re enabling drivers to responsibly reach some of the nation’s most breathtaking natural spaces,” said Trent Warnke, Rivian’s Senior Director of Energy and Charging Solutions. “In addition to scenic or off-the-beaten-path destinations, our fast charging rollout is designed to ensure travelers have places to charge along major transportation corridors coast to coast.”
Recognizing that vehicle electrification is only one step in reducing environmental impact, Rivian is matching charging on Rivian Adventure Network and Waypoints chargers with 100% renewable energy on an annual basis. Rivian is engaging directly with clean energy developers and operators to promote tangible contributions to a cleaner grid when drivers plug in. To support this initiative, Rivian is building a portfolio of high-impact renewable projects around the country that balance technologies, location, and energy solutions. Integrating these solutions into a company-wide sustainability strategy is a foundational step on our path toward net-zero carbon emissions.
Rivian will continue opening Rivian Adventure Network sites with an initial goal of 3,500 fast chargers at 600 sites across North America.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the expansion of the Rivian Adventure Network. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “forecasts,” “predicts,” “potential,” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements use these words or expressions. These forward-looking statements speak only as of the date when made, and we undertake no obligation to publicly update or revise any forward-looking statements after the date of this press release, except as required by applicable law. Forward-looking statements are not guarantees of future performance and inherently involve a wide range of risks and uncertainties that are difficult to predict. A discussion of these risks and uncertainties is contained in our filings with the Securities and Exchange Commission.
About Rivian
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. Learn more about the company, products, and careers at rivian.com.
Investor Contact
Tim Bei
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Media Contact
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OCALA, Fla.--(BUSINESS WIRE)--E-ONE®, a subsidiary of REV Group, Inc. (NYSE: REVG), announces it is building an all-electric Vector™ Rescue Decon truck for the City of Varennes Fire Safety Service in Quebec; the first Rescue truck using the first fully electric North America- style fire truck design.
This Vector™ order, which will become one of the initial EV firetrucks in operation in Canada, came from the City of Varennes. REV Fire Group introduced its EV firetruck in August 2021, which utilizes 316 kilowatts of proven automotive grade batteries, and can be customized to accommodate specialized fire ground duties such as air support and decontamination of firefighters to remove carcinogens from gear after fighting structure fires.
The Vector™ design features low battery cell placement which offers a safer, lower center of gravity for enhanced stability while operating. The crew from Varennes worked closely with the engineers at E-ONE to develop this unique mission critical apparatus to serve their community.
"This emergency truck is one-of-a-kind,” said Varennes Mayor Martin Damphousse in a city press release. “In addition to having a self-sufficiency that guarantees reliability for the entire duration of interventions, it will meet the needs of the Fire Safety Service on three specific points: the decontamination of firefighters on site with their equipment, air refueling breathing and release during a call.”
“We are excited to partner with Varennes Fire Safety Service to help protect both their community and the environment with one of the first EV fire apparatus in Canada,” said Kent Tyler, President of REV Fire Group. “It’s our first EV Rescue truck, which demonstrates the Vector’s customization and flexibility to suit a fire department’s needs.”
1200 Degrees, an E-ONE-authorized dealer, is handling the order and delivery is expected in 2023.
About E-ONE, Inc.
E-ONE is a leading fire apparatus manufacturer, making emergency vehicles, rescue trucks, aerial fire trucks, rescue pumpers and custom fire apparatus, and has produced more than 28,000 vehicles delivered around the world. Headquartered in Ocala, Florida, E-ONE is an industry leader in product innovations, new technologies and exceeding customer expectations. E-ONE is owned by the REV Group (NYSE: REVG).
About REV Group, Inc.
REV Group® companies are leading designers and manufacturers of specialty vehicles and related aftermarket parts and services, which serve a diversified customer base, primarily in the United States, through three segments: Fire & Emergency, Commercial, and Recreation. They provide customized vehicle solutions for applications, including essential needs for public services (ambulances, fire apparatus, school buses, and transit buses), commercial infrastructure (terminal trucks and industrial sweepers), and consumer leisure (recreational vehicles). REV Group's diverse portfolio is made up of well-established principal vehicle brands, including many of the most recognizable names within their industry. Several of REV Group's brands pioneered their specialty vehicle product categories and date back more than 50 years. REV Group trades on the NYSE under the symbol REVG. Investors-REVG
Natalie Childress
Senior Director, Marketing
352.502.3782 (mobile)
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Progress facilitates accelerated design completion. Updates include: new economic impact analysis; region-wide transportation solution for Calgary Airport rail hub; potential Edmonton-Calgary High Speed Rail project integration; wildlife impact mitigation approach; hydrogen rollingstock and supply alternatives; municipal, tourism and business stakeholder support; construction strategy; and ridership forecasts. All measures lead to lower development risk and opportunity to reduce or eliminate Provincial financial contributions.
CALGARY, Alberta--(BUSINESS WIRE)--Liricon Capital Ltd. (Liricon) and Plenary Americas (Plenary), a portfolio company of Caisse de dépôt et placement du Québec (CDPQ), are pleased to announce that, working with supportive stakeholders and with the strong support of local business and the community, they have advanced the first stage of Phase 4 (Design) by completing 11 key components of the Calgary Airport – Banff Rail (CABR) project. All of these measures thereby lower the development risk and create the opportunity to reduce or eliminate Provincial financial contributions.
Liricon/Plenary submitted an Enhanced Unsolicited Proposal in November 2021 (the Proposal) to the Government of Alberta’s Ministry of Transportation (Alberta Transportation), Invest Alberta Corporation (Invest Alberta), and the Canada Infrastructure Bank (CIB) to advance the CABR project from Phase 3 (Development) to Phase 4 (Design). Liricon/Plenary reviewed the Proposal with Alberta Transportation and CIB in February and March 2022. Since then, Liricon/Plenary have achieved 11 important milestones including:
These achievements will decrease the time to complete Phase 4 (Design), reduce development risk and enhance the attractiveness of the Proposal. This progress supports CABR ability to:
New analysis indicates that, should Parks Canada adopt policies that encourage Banff National Park visitors to use mass transit options like CABR rather than personal vehicles, there would be an opportunity to reduce or eliminate the proposed Provincial financial contribution.
The further advancement of the CABR project requires the Government of Alberta to match funding of up to $10 million that is being contributed by each of Liricon/Plenary and CIB, to complete second stage of Phase 4 (Design) and achieve a final investment decision.
Liricon/Plenary will then fund the third and fourth stages of the Design Phase (permitting and financial close), budgeted at a total of $75 million.
Upon the completion of each stage of the Design Phase, the Government of Alberta can decide whether to continue to the next stage based on the more detailed information then available to it, and will ultimately make a final investment decision whether to proceed into permitting and the Project’s fifth and final phase, Construction and Implementation.
This process provides the Government of Alberta with multiple opportunities to decide whether to continue to advance the Project, and thereby limits the Government of Alberta’s development risk.
The project is uniquely low risk to Alberta taxpayers since the structure proposed for CABR is a public-private-partnership, which is designed to share commercial risks across multiple partners, including risks relating to capital costs, ridership and revenue.
This P3 structure is different from the conventional government approach of using solely taxpayer money to develop, procure and build public transit projects. In 2016, Canada Infrastructure Bank was established to structure and fund P3 projects which take the commercial risk that government usually is forced to assume under traditional delivery models. The Government of Alberta had the vision to create an Unsolicited Proposal framework to accommodate this new innovative P3 structure.
As one of the first project proposals under this new framework Liricon/Plenary are looking forward to conducting further public engagement and working with the Province, CIB and various capital and engineering partners through the multiple phases required to structure the design and capital contributions to make this project possible.
Video link: Calgary Airport – Banff Rail arriving at Banff Train Station
CABR - Banff Train Station, Press Release 06-27-2022.mp4
Background to Press Release re Calgary Airport - Banff Passenger Rail Project
In November 2021, Liricon/Plenary submitted the Proposal which contemplates development and construction financing from private and institutional capital and the CIB. Once CABR is up and running, CABR’s operating and financing costs will be serviced by revenues from the Project, supported, if necessary, by a financial contribution of up to $30 million / year (2021$) from the Government of Alberta. This financial contribution represents a cap for the benefit of reducing any risk to Government of Alberta and is anticipated to be reduced or eliminated through further refinement of the Project’s design and operating parameters and long-term upside revenue-sharing mechanisms.
The CABR system will operate on a new, dedicated passenger line built within the existing CP Rail freight corridor and will provide high frequency, reliable service between 7 destinations: Calgary Airport, Calgary Downtown, Calgary Keith, Cochrane, Morley (Stoney Nakoda), Canmore and Banff. Net economy class ticket costs for Albertans are estimated to be about $10 from the Airport to Downtown Calgary and $20 from Downtown Calgary to Banff taking into account discounts for entry to the Park.
Leadership from Government of Alberta
The continued support of multiple public and private sector stakeholders is dependent upon the Government of Alberta, as Project Sponsor, also formally supporting the project in order to complete Phase 4 (Design). Without public sector support, infrastructure of this kind simply does not get built. This Design Phase will require an additional 9 months of analysis, further public engagement and engineering at the end of which the Government of Alberta will be able to make a final investment decision.
Alberta’s current decision is whether to match development and design funding of up to $10 million contributed by each of Canada Infrastructure Bank and Liricon/Plenary. The project cannot proceed without the Province’s $10 million commitment, as it is specified by CIB’s process.
The project is uniquely low risk to Alberta taxpayers. The Proposal structures CABR as a public-private-partnership (P3) where the private partner assumes the risks of achieving a commercially reasonable investment, including capital cost, ridership and revenue.
This P3 structure is different from the conventional government approach to developing and building public transit projects. The Canada Infrastructure Bank was established to assess and fund P3 projects that take the commercial risk that Government usually is forced to assume. Government of Alberta had the vision to create an Unsolicited Proposal framework to accommodate this innovative new P3 structure.
CABR Update: First Stage of Phase 4 (Design) Achievements
Since submitting its Enhanced Unsolicited Proposal in November 2021 (the Proposal) to Alberta Transportation, Invest Alberta, and the CIB to advance the CABR project from Phase 3 (Development) to Phase 4 (Design), Liricon/Plenary have achieved 11 important milestones:
These achievements will decrease the time to complete Phase 4 (Design) and enhance the attractiveness of the Proposal. This progress clarifies several key components including the potential integration of CABR with local transit systems and tourism operators thereby reducing development risk. Further, new analysis indicates that should Parks Canada adopt policies that encourage Banff National Park visitors to use mass transit options like CABR rather than personal vehicles, there would be an opportunity to reduce or eliminate the proposed Provincial financial contribution.
Additional detail and insight into the progress of each of the above milestones includes:
Potential Alberta Performance Payment Reduction
Under the Proposal, ridership and revenue is solely a Liricon/ Plenary risk yet the upside can be shared with Government of Alberta. This proposal was based on CABR capturing approximately 20% of the total 2019 visitors to the Park. Importantly, Steer acknowledges the conditions under which the Liricon/ Plenary upside ridership and revenue projections could be achieved. In particular, Parks Canada has the opportunity to use the Park entry fee to encourage a transportation mode shift from personal vehicles to mass transit (eg CABR) and sustainable intra-Park transit by increasing the entry fee for vehicles and not charge visitors arriving by mass transit.
Jan Waterous
Managing Partner
Liricon Capital Ltd.
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Stephanie Williamson
Vice President, Corporate Affairs
Plenary Americas
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