Metallic Balloon-caused Power Outages on the Rise
OAKLAND, Calif.--(BUSINESS WIRE)--California’s graduation season has begun, and it’s important that all celebrants understand the public safety risks associated with helium-filled metallic balloons. If your graduation celebration involves balloons, make sure they are secured with a weight. Unweighted balloons can float away and come into contact with overhead power lines, causing power outages and a public safety risk.
In the first four months of 2022, metallic balloons striking electric lines have caused nearly 152 power outages in PG&E's service area alone, disrupting service to more than 56,000 customers. These power outages can interrupt electric service to critical facilities such as hospitals, schools, and traffic lights.
PG&E’s Asset Failure Analysis team found that a greater percentage of fires caused by balloons were larger than 1/4 acre compared to fires attributed to other common ignition sources tracked by PG&E.
For example, last month a balloon made contact with an electric line and caused a grass fire pictured here near Fresno. In April, a balloon caused outage in Madera started a grass fire and knocked out power to more than 13,000 people.
Ignitions caused by metallic balloons are increasing in frequency. There were 21 ignitions in 2019, 22 in 2020 and 31 in 2021: a total increase of 48 percent from 2019. Balloon-caused outages are most common in the late spring and early summer when customers are celebrating a variety of holidays and special occasions.
“We’re seeing a troubling trend of metallic balloons floating into our electric lines and starting fires. This time of year is 'celebration season' – Mother’s Day, graduation ceremonies, summer parties, Memorial Day and Father’s Day – and we often see a spike in balloon-caused outages. That’s why we’re urging everyone to keep the weight attached to the metallic balloon if you plan to use them in your celebration,” said Andy Abranches, PG&E Senior Director of Risk Management.
PG&E Supports Balloon Safety Legislation
PG&E supports Assembly Bill 847, introduced by Assemblymember Bill Quirk, which requires that by 2026 all balloons sold in California will be made with a material that is non-conductive if it comes in contact with overhead distribution lines. More than 90% of balloon caused outages occur on distribution circuits and would be prevented by the standards implemented by AB 847, significantly improving public safety. In 2021, metallic balloons caused 602 power outages across PG&E’s service area, disrupting service to more than 300,000 homes and businesses. The legislation will also improve electric reliability.
PG&E conducted a demonstration to show what can happen when metallic balloons become lose and hit utility power lines. You can watch the video here: PG&E Mylar Balloon Safety.
To significantly reduce the number of balloon-caused outages and to safely enjoy graduations, Father’s Day and summer celebrations, PG&E asks customers to follow these important safety tips for metallic balloons:
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
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Li-Cycle’s third operational Spoke facility in North America commences operations, with capacity to process up to 10,000 tonnes of manufacturing scrap and end-of-life batteries per year
Arizona Spoke is the first to utilize Li-Cycle’s proprietary technology to directly process full EV battery packs
Facility can process equivalent of batteries required for approximately 20,000 EVs per annum
TORONTO--(BUSINESS WIRE)--Li-Cycle Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced that its previously announced Arizona Spoke facility located in Gilbert, Arizona has commenced commercial operations.
Arizona presents a significant opportunity for lithium-ion battery recycling due to the emerging electric vehicle (EV) supply chain in the region, as well as its close proximity to large markets such as California, which are expected to produce an increasing supply of end-of-life batteries available for recycling from EVs, energy storage projects and consumer electronics.
Li-Cycle’s Arizona Spoke facility is the first-of-its-kind, utilizing proprietary technology that processes full EV battery packs without dismantling them manually, making recycling of those battery packs safer, sustainable and more labor efficient. The facility is strategically located close to the Company’s existing battery and manufacturing scrap supply network in the Southwestern United States, which optimizes logistics and other efficiencies for recycling services.
“The launch of Li-Cycle’s innovative battery recycling facility bolsters Arizona’s already robust EV supply chain and sends a signal that Arizona is the place to be for electric batteries,” said Arizona Governor Doug Ducey. “Sustainable industries have found a home in Arizona, and few companies represent the innovation and possibilities that brings like Li-Cycle. We are proud to see Li-Cycle’s facility up and operational.”
“We are excited Li-Cycle’s innovative battery recycling facility has commenced operations,” said Sandra Watson, President and CEO of the Arizona Commerce Authority. “Li-Cycle’s Arizona Spoke will increase EV battery recycling capabilities, strengthening Arizona’s battery and electric vehicle supply chains while creating quality jobs in the community.”
“We are pleased to announce that our Arizona Spoke is operational,” said Richard Storrie, Regional President, Americas of Li-Cycle. “This new state-of-the-art facility enhances our ability to serve the recycling needs of our customers, while significantly increasing our operational recycling capacity. We’re also creating an additional domestic source of critical metals to be transformed and supply lithium-ion battery production.”
Li-Cycle held a Grand Opening Event earlier in May 2022 at the 140,000-square-foot facility as it made its official debut. At the event, Li-Cycle was joined by its customers, local government officials, and others connected to the Gilbert community and surrounding area in celebration of a momentous occasion for Li-Cycle and the region’s lithium-ion battery supply chain.
Li-Cycle’s Alabama Spoke, which is of the same design as the Arizona Spoke, is scheduled to be operational in the Company’s third quarter of 2022. When both the Arizona and Alabama Spokes are operational, Li-Cycle will have a total processing capacity of 30,000 tonnes per annum. By the end of 2023, the Company expects to have a total of 65,000 tonnes of lithium-ion battery processing capacity per annum, across its Spokes in North America and Europe.
The primary output product of the Arizona Spoke is black mass, consisting of a number of highly valuable critical metals, including lithium, cobalt and nickel, which Li-Cycle will convert into battery-grade materials at its first North American Hub facility, which is under construction in Rochester, New York. Li-Cycle expects that the Hub will be capable of processing 35,000 tonnes of black mass annually, with targeted commissioning in 2023.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
Forward-Looking Statements
Certain statements contained in this communication may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as “will”, “continue”, “anticipate”, “expect”, “estimate”, “potential”, “future”, “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include, for example, statements about the expected performance of the Arizona Spoke, the expected increasing supply of end-of-life batteries available for recycling from EVs, energy storage products and computer electronics; the growing global market demand for lithium-ion batteries and their raw material; the future financial performance of Li-Cycle; the expected date of commencement of operations of the Alabama Spoke; the expected processing capacity of the Arizona and Alabama Spokes; the expected total processing capacity of the Company across its Spokes in North America and Europe by the end of 2023; and the expected annual processing capacity of the Rochester Hub and its targeted commissioning date. These statements are based on various assumptions, whether or not identified in this communication, which Li-Cycle believe are reasonable in the circumstances. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.
These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle’s current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability.
Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: Li-Cycle’s inability to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life lithium-ion batteries; Li-Cycle’s inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle’s inability to manage future global growth effectively; Li-Cycle’s inability to develop the Rochester Hub and its Spoke capital projects in a timely manner or on budget, or that those capital projects will not meet expectations with respect to their productivity or the specifications of their end products; Li-Cycle’s failure to materially increase recycling capacity and efficiency; Li-Cycle may engage in strategic transactions, including acquisitions, that could disrupt its business, cause dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; risks related to international expansion; one or more of Li-Cycle’s current or future facilities becoming inoperative, capacity constrained or if its operations are disrupted; additional funds required to meet Li-Cycle’s capital requirements in the future not being available to Li-Cycle on commercially reasonable terms or at all when it needs them; Li-Cycle expects to incur significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect Li-Cycle’s operations; Li-Cycle’s inability to maintain and increase feedstock supply commitments as well as securing new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for “green” energy technologies; decreases in benchmark prices for the metals contained in Li-Cycle’s products; changes in the volume or composition of feedstock materials processed at Li-Cycle’s facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle’s revenues for the Rochester Hub are derived significantly from a single customer; Li-Cycle’s insurance may not cover all liabilities and damages; Li-Cycle’s heavy reliance on the experience and expertise of its management; Li-Cycle’s reliance on third-party consultants for its regulatory compliance; Li-Cycle’s inability to complete its recycling processes as quickly as customers may require; Li-Cycle being subject to the risk of litigation or regulatory proceedings; Li-Cycle’s inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle’s operating and financial results from period to period due to fluctuations in its operating costs and other factors; fluctuations in foreign currency exchange rates which could result in declines in reported sales and net earnings; unfavourable economic conditions, such as consequences of the global COVID-19 pandemic; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geo-political events; failure to protect or enforce Li-Cycle’s intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle’s failure to effectively remediate the material weaknesses in its internal control over financial reporting that it has identified or if it fails to develop and maintain a proper and effective internal control over financial reporting. These and other risks and uncertainties related to Li-Cycle’s business are described in greater detail in the section entitled "Risk Factors" in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission in Canada on January 31, 2022. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.
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HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes (NASDAQ: BKR) announced today that the Baker Hughes Board of Directors declared a cash dividend of $.18 per share of Class A common stock payable on June 10, 2022 to holders of record on May 31, 2022.
About Baker Hughes:
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
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MELBOURNE, Australia--(BUSINESS WIRE)--Hansen Technologies (ASX:HSN) is pleased to announce the expansion of its partnership with Gasum. As part of the agreement, Gasum, one of the largest energy market service providers in the Nordic region, will further extend its use of Hansen Trade to new trading solutions. The agreement builds on the encouraging benefits accrued from intraday and day-ahead trading, as well as regulating power market operations, with Hansen Trade.
The new agreement will add the Intraday Trading for Asset Optimisation module, as well as the FCR + FFR module and the Market Transaction Monitoring module to the current Hansen Trade capabilities operated by Gasum – thereby allowing Gasum to leverage best-of-breed automated systems to produce beneficial outcomes, implementing zero-touch automation to replace costly, manual interventions, minimising risks in the real-time intraday market, and optimising trading operations in the Day-ahead and Intraday markets.
Jouni Liimatta, Head of Trading, Gasum Ltd, commented: “With a successful relationship already in place with Hansen, it was an easy decision for us to further expand the existing scope to encompass new trading solutions. Today’s volatile power markets require market participants to be able to operate in all marketplaces, and to capitalise on all value opportunities. With Hansen Trade, we can automate our trading business processes more and provide new value-additive services to our customers. Wholesale power markets are changing fast and it is imperative that we help our customers succeed in this changing business environment.”
John May, Divisional President, Energy and Utilities, Hansen Technologies, commented: “Our new agreement with Gasum is another resounding reminder of the success that Hansen Trade continues to see with several leading energy market players in the Nordic region, as well as its versatile modular approach that allows our valued customers to tackle a variety of market complexities. Against the backdrop of an ever-changing landscape and the wider transition to greener sources of energy, Hansen Trade will enable Gasum to automate critical business operations with a modern and robust cloud-native trading solution.”
Run as a cloud-based SaaS solution, Hansen Trade fully meets the flexibility and scalability demands of the evolving energy trading market.
For further information about Hansen Technologies, please visit www.hansencx.com.
About Hansen Technologies
Hansen Technologies (ASX: HSN) is a leading global provider of software and services to the energy, water and communications industries. With its award-winning software portfolio, Hansen serves 600+ customers in over 80 countries, helping them to create, sell, and deliver new products and services, manage and analyse customer data, and control critical revenue management and customer support processes.
For more information, visit www.hansencx.com
About Gasum
Gasum is a Nordic gas sector and energy market expert. Gasum offers cleaner energy and expert energy market services for industry, and for combined heat and power production as well as cleaner fuel solutions for road and maritime transport. The company helps its customers reduce their own carbon footprint as well as that of their end-customers. Together with its partners, Gasum promotes development towards a carbon-neutral future on land and at sea.
For more information, visit www.gasum.com
Adnan Bashir
Senior Manager, Global Corporate Communications
Hansen Technologies
+1 647-204-0999
MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE:INT) announced today that its board of directors has declared a quarterly cash dividend of $0.12 per share payable on July 1, 2022 to shareholders of record on June 3, 2022.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services also offers natural gas and electricity, as well as energy advisory services, including programs for sustainability solutions and renewable energy alternatives. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
For more information, call 305-428-8000 or visit www.wfscorp.com.
Ira M. Birns,
Executive Vice President &
Chief Financial Officer
Glenn Klevitz,
Vice President & Treasurer
305-428-8000
DUBLIN--(BUSINESS WIRE)--The "Global Marine Loading Arms Market Research Report 2022 (Status and Outlook)" report has been added to ResearchAndMarkets.com's offering.
The Global Marine Loading Arms Market Size was estimated at USD 413.6 million in 2021 and is projected to reach USD 570.4 million by 2028, exhibiting a CAGR of 5.50% during the forecast period.
The publisher's latest report provides a deep insight into the global Marine Loading Arms market covering all its essential aspects. This ranges from macro-overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, etc.
The analysis helps to shape the competition within the industries and strategies to the competitive environment in order to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of Global Marine Loading Arms Market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Marine Loading Arms market in any manner.
Global Marine Loading Arms Market: Market Segmentation Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Market segmentation creates subsets of a market based on product type, end user or application, Geographic, and other factor.
By understanding the market segments, decision maker can leverage this targeting in product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Market Segmentation (by Type)
Market Segmentation (by Application)
Geographic Segmentation
Key Benefits of This Market Research:
Key Reasons to Buy this Report:
For more information about this report visit https://www.researchandmarkets.com/r/jxtol7
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Voltus prepares portfolio in anticipation of a projected 5,000 MW shortfall in MISO, while calling on state regulators and the Federal Energy Regulatory Commission (FERC) to lift demand response bans
SAN FRANCISCO & BOSTON--(BUSINESS WIRE)--Voltus, Inc. (“Voltus”), the leading DER software platform, announces today that its nearly 500 MW MISO portfolio is prepared to help meet anticipated supply shortages this summer. MISO’s 2022/2023 Capacity Auction last month revealed critical gaps in accredited capacity due to the increase in intermittent generation and the ongoing retirement of thermal generation across the region. As a result, customers in seven MISO zones spanning eleven US states have an increased risk of controlled outages to maintain system reliability this summer.
"Voltus entered the MISO market in 2016 with the foresight that demand-side resources would be a necessary backstop as our electricity grid transitioned from traditional fossil fuel generation to intermittent renewable sources of energy,” explains Matthew Plante, President. “The recent auction results reveal that we’re at a critical juncture where DERs must be leveraged to fill this gap and ensure the reliability and affordability of our electricity grid and the safety of our communities moving forward. Voltus’s portfolio of DERs is ready now to provide critical electricity grid relief.”
Plante explains that Voltus could be doing even more to help the electricity grid this summer. “We have been beating this drum for years: the reliability and affordability of the electric grid and the well-being of our communities are being jeopardized by state-level Public Utility Commissions’ (PUC) bans on demand side resources from participating in these markets. Nine out of the eleven MISO states that have banned aggregators from delivering all available demand response - Kentucky, Indiana, Iowa, Michigan, Minnesota, Missouri, North Dakota, South Dakota, and Wisconsin - fall within the seven MISO zones most at risk for blackouts and brownouts.” Plante emphasizes, “Voltus could add an additional 1,000 MWs to its existing MISO portfolio this summer through existing customer relationships across these states if these bans are lifted. We are working at all levels to press for the removal of these bans, thus reducing the likelihood of blackouts that harm the economy, the environment, and lead to the loss of lives.”
Voltus has been at the forefront of advocating for regulatory changes at the federal level, urging FERC to pass a Notice of Proposed Rulemaking (NOPR), which would disabuse state level bans entirely. Other groups, including the Industrial Energy Consumers of America (IECA), are also speaking out. Paul Cicio, IECA President, in Monday’s press release stated, “It is of immediate importance that FERC issue the NOPR that would reverse the state demand response Opt Out to avoid high electricity costs and serious reliability problems as early as this summer. This action will reduce inflation, electricity costs, and improve reliability.”
Voltus encourages customers across MISO to prepare for this summer’s potential shortfalls by enrolling in DER programs immediately. Participating in these programs not only provides an early warning of pending brownouts and blackouts, but also creates an additional revenue stream for these businesses. To get started, email This email address is being protected from spambots. You need JavaScript enabled to view it. or register for Voltus’s May 18, 2022 webinar by clicking here to learn more.
About Voltus
Voltus is the leading software technology platform connecting distributed energy resources to electricity markets, delivering less expensive, more reliable, and more sustainable electricity. Our commercial and industrial customers and DER partners generate cash by allowing Voltus to maximize the value of their flexible load, distributed generation, energy storage, energy efficiency, and electric vehicle resources in these markets. To learn more, visit www.voltus.co.
On November 30, 2021, Broadscale Acquisition Corp. ("Broadscale") (Nasdaq: SCLE) entered into a definitive agreement for a business combination with Voltus. The combined company is expected to be listed on the Nasdaq upon completion of the transaction. The transaction is expected to occur in the second quarter of 2022 and is subject to approval by Broadscale's stockholders, the registration statement being declared effective by the SEC, and other customary closing conditions.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to future results of operations and financial position, revenue and other metrics, planned products and services, business strategy and plans, objectives of management for future operations of Voltus market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Broadscale and its management, and Voltus and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive merger agreement with respect to the business combination; 2) the outcome of any legal proceedings that may be instituted against Voltus, Broadscale, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; 3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of Broadscale or Voltus, or to satisfy other conditions to closing the business combination; 4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; 5) the ability to meet Nasdaq's listing standards following the consummation of the business combination; 6) the risk that the business combination disrupts current plans and operations of Voltus as a result of the announcement and consummation of the business combination; 7) the inability to recognize the anticipated benefits of the business combination, 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 its management and key employees; 8) costs related to the business combination; 9) changes in applicable laws or regulations; 10) the possibility that Voltus or the combined company may be adversely affected by other economic, business and/or competitive factors; 11) Voltus’s estimates of its financial performance; 12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of Broadscale’s securities; 13) the risk that the transaction may not be completed by Broadscale’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by Broadscale; 14) the impact of the novel coronavirus disease pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; 15) inability to complete the PIPE investment in connection with the business combination; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in Broadscale’s registration statement on Form S-4 (File No. 333-262287), filed with the SEC on January 21, 2022 and as amended by Amendment No. 1 filed on March 18, 2022 (collectively, the “Registration Statement”), and other documents filed by Broadscale from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release 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, which speak only as of the date they are made. Neither Broadscale nor Voltus gives any assurance that either Broadscale or Voltus or the combined company will achieve its expected results. Neither Broadscale nor Voltus undertakes any duty to update these forward-looking statements, except as otherwise required by law.
Use of Projections
This press release may contain financial or operational forecasts of Voltus. Neither Voltus’s independent auditors, nor the independent registered public accounting firm of Broadscale, audited, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this press release, and accordingly, neither of them expressed an opinion or provided any other form of assurance with respect thereto for the purpose of this press release. These projections should not be relied upon as being necessarily indicative of future results. The projected financial and/or operational information contained in this press release constitutes forward-looking information. The assumptions and estimates underlying such projected information are inherently uncertain and are subject to a wide variety of significant business, economic, competitive and other risks and uncertainties that could cause actual results to differ materially from those contained in the prospective financial information. See “Forward-Looking Statements'' above. Actual results may differ materially from the results contemplated by the projected information contained in this press release, and the inclusion of such information in this press release should not be regarded as a representation by any person that the results reflected in such projections will be achieved.
Additional Information and Where to Find It
In connection with the proposed transaction, Broadscale has filed with the U.S. Securities and Exchange Commission the Registration Statement, which included a preliminary proxy statement and a preliminary prospectus. After the Registration Statement has been declared effective, Broadscale will mail a definitive proxy statement /prospectus relating to the proposed transaction to its stockholders as of the record date established for voting on the proposed transactions. Broadscale’s stockholders and other interested persons are urged to carefully read the Registration Statement, including the preliminary proxy statement / preliminary prospectus, and any amendments thereto, and, when available, the definitive proxy statement/prospectus and other documents filed in connection with the proposed transaction, as these materials contain, or will contain, important information about the proposed transaction and the parties to the proposed transaction.
Broadscale’s stockholders and other interested persons will be able to obtain free copies of the Registration Statement, the preliminary proxy statement / preliminary prospectus, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC, without charge, when available, at the website maintained by the SEC at www.sec.gov.
The documents filed by Broadscale with the SEC also may be obtained free of charge at Broadscale’s website at https://www.broadscalespac.com or upon written request to 1845 Walnut Street, Suite 1111, Philadelphia, PA 19103.
NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.
Participants in the Solicitation
Broadscale and Voltus and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed transactions. Broadscale’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of Broadscale listed in the Registration Statement. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Broadscale’s stockholders in connection with the proposed business combination is set forth in the Registration Statement.
No Offer or Solicitation
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.
Investor Relations Contact – Voltus
John Lowe, VP Investor Relations
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Media Contact – Voltus
Matt Dallas, ICR, Inc.
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7 Projects Across 5 African Countries Expected to Deliver 3.5 Million Devices and Avoid 50 Million tCO2e of Emissions Over 15 Years
TORONTO--(BUSINESS WIRE)--$NETZ #NETZ--Carbon Streaming Corporation (NEO: NETZ) (OTCQB: OFSTF) (FSE: M2Q) (“Carbon Streaming” or the “Company”) is pleased to announce that it has entered into a US$20.0 million carbon credit streaming agreement (“Carbon Stream”) with Community Carbon and UpEnergy Group (“UpEnergy”) to bring fuel-efficient cookstoves and safe water solutions to millions of households in eastern and southern Africa. These vital energy-saving devices will reduce emissions, improve health outcomes, and preserve local environments by protecting forests from illegal charcoal and wood harvesting.
Investment Highlights:
Impact Highlights:
Carbon Streaming Founder and CEO Justin Cochrane stated: “We are proud to partner with Community Carbon for its focus on local impact, and UpEnergy for its impressive track record in making clean cookstoves and water purification devices more accessible to all. These ambitious expansion plans will improve health outcomes and reduce energy poverty for millions of people and significantly reduce GHG emissions.”
Mr. Cochrane continued, “We’re excited to announce our first energy efficiency carbon streams, as financing the deployment of these critical innovations provides healthy diversification to our growing portfolio of high-impact carbon credits from some of the best carbon projects in the world. This venture demonstrates the flexibility and capability of our investment structure in delivering a diversified carbon portfolio at scale.”
“Community Carbon is being launched to achieve widespread distribution of proven energy saving devices like fuel-efficient cookstoves and water purification solutions that reduce devastating logging in African forests. These projects are critical to addressing climate change because a tree that never gets unsustainably cut and burned sequesters the same CO2 as a newly planted tree, but achieves the climate impact sooner,” said UpEnergy Chairman, Matt Evans. “The distribution of energy saving devices in tandem with additional Community Carbon Fund programs unlocks long-standing local economic development, human health improvements, and better access to education, particularly for women and girls. By purchasing verified emissions reductions that support communities to address health, economic, and social issues, carbon buyers can make vital contributions to greater climate resilience.”
The Portfolio will comprise seven energy-saving projects: cookstove projects in Mozambique, Uganda and Tanzania, and safe water projects in Malawi, Mozambique, Uganda and Zambia. The initiative, which is expected to roll out over the course of the next two years, will commence with the expected delivery of 3.5 million fuel-efficient, cleaner cookstoves and water purification devices to communities across the five countries. The Portfolio has a goal to reduce approximately 50 million tCO2e emissions over the 15-year life of the Projects and is expected to generate an equivalent number of emissions reductions, which will be independently verified under The Gold Standard, and for Tanzania, through Verra. Under the terms of the Carbon Stream, the Company will make an upfront cash investment of US$6.5 million on closing, with additional payments of up to US$13.5 million as emissions reduction milestones and device distribution thresholds are achieved by the Portfolio. The generation of emission reductions is expected to commence in 2023 and ramp-up as cookstove and water purification units are distributed. The portion of the emission reductions received by, and the economic interest attributable to, Carbon Streaming pursuant to the Carbon Stream is consistent with the Company’s other stream investments. Closing of the Carbon Stream is subject to customary conditions with closing anticipated to occur in mid-2022.
About Carbon Streaming
Carbon Streaming is an ESG principled company offering investors exposure to carbon credits, a key instrument used by both governments and corporations to achieve their carbon neutral and net-zero climate goals. Our business model is focused on acquiring, managing and growing a high-quality and diversified portfolio of investments in projects and/or companies that generate or are actively involved, directly or indirectly, with voluntary and/or compliance carbon credits.
The Company invests capital through carbon credit streaming arrangements with project developers and owners to accelerate the creation of carbon offset projects by bringing capital to projects that might not otherwise be developed. Many of these projects have significant social and economic co-benefits in addition to their carbon reduction or removal potential.
With this most recent announcement, the Company has executed carbon credit streaming agreements related to over 10 projects around the globe, including nature-based, biochar, clean cookstove and water filtration projects. Carbon Streaming intends to continue building and diversifying its high-quality portfolio of investments in the near term.
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About Community Carbon
Community Carbon develops energy-saving solutions in southern and eastern Africa — starting with cleaner cookstoves and safe water filters — that avoid emissions, improve community outcomes, and preserve local environments. Our approach goes further, stimulating additional social and economic benefits by focusing on local manufacturing, reinvesting project revenue to build and deploy more devices in the community, supporting local tree-planting programs, and supporting the education and empowerment of women and girls. Community Carbon combats energy poverty by tapping into carbon markets and the global community’s drive to reduce emissions — because together, we can do more. Community Carbon was established in 2022 by UpEnergy. Learn more at https://www.communityco2.org.
About UpEnergy
UpEnergy makes cleaner technology accessible to all. We quantify the emissions reductions resulting from our products according to rigorous standards such as The Gold Standard and Verra. Our team brings 30+ years of collective experience to the development of emission reduction projects that achieve real local income, social, and environmental benefits. Learn more at https://www.upenergygroup.com/.
Advisories
The references to third party websites and sources contained in this news release (including information with regards to Community Carbon and UpEnergy) are provided for informational purposes and are not to be considered statements of the Company.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements and forward-looking information (collectively, “forward-looking information”) within the meaning of applicable securities laws. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, including, without limitation, statements and figures with respect to the estimation of devices deployed; future carbon credit generation and emissions reductions from the Portfolio; the ability for the Portfolio to be independently verified by The Gold Standard or Verra; the expected benefits associated with the deployment and use of the energy-saving devices; timing to meet additional payment milestones; the use of proceeds from the Carbon Stream; the benefits associated with and timing of first projects for the Community Carbon Fund; timing of generation of emissions reductions; the timing and closing of the transaction; the generation of local community benefits from the Portfolio and the Community Carbon Fund; statements with respect to execution of the Company’s portfolio and partnership strategy.
When used in this news release, words such as “estimates”, “expects”, “plans”, “anticipates”, “will”, “believes”, “intends” “should”, “could”, “may” and other similar terminology are intended to identify such forward-looking statements. This forward-looking information is based on the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. They should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. Factors that could cause actual results or events to differ materially from current expectations include, among other things: dependence on key management; limited operating history for the Company’s current strategy; concentration risk; inaccurate estimates of growth strategy, including the ability of the Company to source appropriate opportunities/investments; volatility in prices of carbon credits and demand for carbon credits; general economic, market and business conditions; failure or timing delays for projects to be validated and ultimately developed or greenhouse gases emissions reductions and removals to be verified and carbon credits issued; uncertainties and ongoing market developments surrounding the regulatory framework applied to the verification, and cancellation of carbon credits and the Company’s ability to be, and remain, in compliance; actions by governmental authorities, including changes in or to government regulation, taxation and carbon pricing initiatives; uncertainties surrounding the ongoing impact of the COVID-19 pandemic; foreign operations and political risks; risks arising from competition and future acquisition activities; due diligence risks, including failure of third parties’ reviews, reports and projections to be accurate; global financial conditions, including fluctuations in interest rates, foreign exchange rates and stock market volatility; dependence on project developers, operators and owners, including failure by such counterparties to make payments or perform their operational or other obligations to the Company in compliance with the terms of contractual arrangements between the Company and such counterparties; failure of projects to generate carbon credits, or natural disasters such as flood or fire which could have a material adverse effect on the ability of any project to generate carbon credits; change in social or political views towards climate change and subsequent changes in corporate or government policies or regulations; operating and capital costs; potential conflicts of interest; unforeseen title defects; the Company’s ability to complete proposed acquisitions and the impact of such acquisitions on the Company’s business; anticipated future sources of funds to meet working capital requirements; future capital expenditures and contractual commitments; expectations regarding the Company’s growth and results of operations; the Company’s dividend policy; volatility in the market price of the Company’s common shares or warrants; the effect that the issuance of additional securities by the Company could have on the market price of the Company’s common shares or warrants; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s Annual Information Form dated as of September 27, 2021 filed on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
ON BEHALF OF THE COMPANY:
Justin Cochrane, Chief Executive Officer
Tel: 647.846.7765
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www.carbonstreaming.com
Investor Relations
Andrea Cheung, VP, Investor Relations
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MEDIA CONTACTS:
Amy Chambers, Carbon Streaming Corporation
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Nikki Arnone, Inflection Point Agency for Community Carbon
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Peter Bronski, Inflection Point Agency for Community Carbon
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TORONTO--(BUSINESS WIRE)--Magellan Aerospace Corporation (“Magellan”) and RocketFrac Services Ltd. (”RocketFrac”) announced today, a contract for the manufacture of charges for an innovative new fracturing technology that uses solid rocket propellant as an alternative to using hydraulic fracking. RocketFrac and Magellan partnered to develop a new fracturing technology that couples RocketFrac’s patent-pending downhole tool with a new and specifically formulated propellant under an exclusive global license from Magellan. All of the charges will be manufactured and delivered from Magellan’s Winnipeg facility by the end of 2022.
The oil and gas sector is actively pursuing new technologies that can address concerns with water use, groundwater protection, and other environmental concerns that are common to traditional hydraulic fracturing. The RocketFrac tool is designed to apply the pressure generated by the solid propellant to a specific portion of the well. This approach requires no water and increases production mobility via radial fracturing of the rock.
Magellan is eager to apply its aerospace energetic material expertise to new opportunities in non-traditional sectors.
About Magellan Aerospace Corporation
Magellan Aerospace Corporation is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.
About RocketFrac Services Ltd.
RocketFrac is an innovative energy service company with proprietary technology that unlocks tight reservoirs with a lower environmental footprint than alternatives. By eliminating the need to use water in the fracking process, RocketFrac’s patent-pending proprietary technology conserves this precious resource, while lowering greenhouse gas emissions, and improving operational efficiency. This approach respects Environment, Social and Governance (ESG) commitments, while contributing to critical energy independence needs around the world. Founded in 2017, and headquartered in Canada, RocketFrac is working with international representatives in multiple markets to bring its unique fracking technology to a global customer base. RocketFrac is guided by experienced energy sector experts.
Magellan Aerospace Forward Looking Statements
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. When used herein, words such as "expect", "anticipate", "estimate", "may", "will", "should", "intend", "believe", and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by the Corporation in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Corporation believes are appropriate in the circumstances. Many factors could cause the Corporation's actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the "Risk Factors" section of the Corporation's Annual Information Form (copies of which filings may be obtained at www.sedar.com). These factors should be considered carefully, and readers should not place undue reliance on the Corporation's forward-looking statements. The Corporation has no intention and 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.
RocketFrac Cautionary Notes and Forward-Looking Statements
Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding RocketFrac’s future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. Forward-looking statements in this news release include statements regarding the engagement and activities of Magellan pursuant to the manufacturing contract.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
For further information:
Laura Podaima
Director, Corporate Communications
Magellan Aerospace Limited
Ph. +1 204 228 3719
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Mike Bowerman
Director of Communications
RocketFrac Services Inc.
+1 403 461.6079
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Tom Whalen
President and CEO
RocketFrac Services Inc.
+1 403 615.7829
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Company’s Rate Request Submitted to the CA Public Utilities Commission
SAN DIEGO--(BUSINESS WIRE)--Safeguarding energy reliability against growing climate threats and building a clean energy future aligned with regional and state climate goals are the driving forces behind the 2024-2027 budget proposal that San Diego Gas & Electric filed yesterday with the California Public Utilities Commission (CPUC). Every four years, regulated utilities in the state are required to file what are formally known as general rate cases (GRC) outlining their capital investments and forecasted costs for operations and maintenance. (Download B Roll Here)
In addition to maintaining high safety and reliability standards, SDG&E’s GRC also supports regional plans to reduce emissions, and the State of California’s goal to achieve carbon neutrality by 2045.
“Average electric bills at our company are the lowest among California’s electric investor-owned utilities, but we also recognize this is a difficult time to ask our customers to pay more given the state of the economy and inflationary pressures and are mindful of every dollar that we ask our customers to pay. Given the changes in climate and the growing need for a clean energy future, this will ultimately result in improvements that create long-term benefits now and for future generations,” SDG&E President Bruce Folkmann said. “The budget proposal we put forth represents the conscientious efforts of hundreds of SDG&E employees to strike the right balance between holding down costs and making the infrastructure investments needed for a clean energy future.”
According to a recent study conducted by SDG&E titled The Path to Net Zero: A Decarbonization Roadmap for California, electrification of buildings and vehicles is crucial for California to become carbon neutral. The analysis indicates electricity consumption in the state could nearly double by 2045. Meeting this increased demand will require a significant expansion of the power grid to both meet emissions reduction targets while also maintaining grid reliability.
All general rate cases are open and transparent proceedings conducted before the CPUC, involving extensive comments from customers, stakeholders and public interest advocates.
Major Investments Outlined in the Budget Proposal
If SDG&E’s rate case is approved as submitted, the average residential customer could expect a monthly electric bill increase of about $9 compared to 2023, and a monthly natural gas bill increase of about $9.60 compared to 2023. SDG&E anticipates the CPUC to make a decision on its GRC in about 18 months, with new rates taking effect Jan. 1, 2024.
More information about SDG&E’s filing can be found at sdgeratesinfo.com.
About SDG&E
SDG&E is an innovative San Diego-based energy company that provides clean, safe and reliable energy to better the lives of the people it serves in San Diego and southern Orange counties. The company is committed to creating a sustainable future by providing its electricity from renewable sources; modernizing energy infrastructure; accelerating the adoption of electric vehicles; supporting numerous non-profit partners; and, investing in innovative technologies to ensure the reliable operation of the region’s infrastructure for generations to come. SDG&E is a subsidiary of Sempra (NYSE: SRE). For more information, visit SDGEnews.com or connect with SDG&E on Twitter (@SDGE), Instagram (@SDGE) and Facebook.
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect to the future, involve risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statements. These forward-looking statements represent our estimates and assumptions only as of the date of this press release. We assume no obligation to update or revise any forward-looking statement as a result of new information, future events or other factors.
In this press release, forward-looking statements can be identified by words such as “believes,” “expects,” “intends,” “anticipates,” “plans,” “estimates,” “projects,” “forecasts,” “should,” “could,” “would,” “will,” “confident,” “may,” “can,” “potential,” “possible,” “proposed,” “in process,” “under construction,” “in development,” “opportunity,” “target,” “outlook,” “maintain,” “continue,” “goal,” “aim,” “commit,” or similar expressions, or when we discuss our guidance, priorities, strategy, goals, vision, mission, opportunities, projections, intentions or expectations.
Factors, among others, that could cause actual results and events to differ materially from those described in any forward-looking statements include risks and uncertainties relating to: California wildfires, including the risks that we may be found liable for damages regardless of fault and that we may not be able to recover all or a substantial portion of costs from insurance, the wildfire fund established by California Assembly Bill 1054, in rates from customers or a combination thereof; decisions, investigations, regulations, issuances or revocations of permits and other authorizations, renewals of franchises, and other actions by (i) the California Public Utilities Commission (CPUC), Comisión Reguladora de Energía, U.S. Department of Energy, U.S. Federal Energy Regulatory Commission, Public Utility Commission of Texas, and other regulatory and governmental bodies and (ii) states, counties, cities and other jurisdictions in the U.S., Mexico and other countries in which we do business; the success of business development efforts, construction projects and acquisitions and divestitures, including risks in (i) the ability to make a final investment decision, (ii) completing construction projects or other transactions on schedule and budget, (iii) the ability to realize anticipated benefits from any of these efforts if completed, and (iv) obtaining the consent or approval of partners or other third parties, including governmental entities and regulatory bodies; the resolution of civil and criminal litigation, regulatory inquiries, investigations and proceedings, arbitrations, and property disputes, including those related to the natural gas leak at Southern California Gas Company’s (SoCalGas) Aliso Canyon natural gas storage facility; changes to laws, including changes to certain of Mexico’s laws and rules that impact energy supplier permitting, energy contract rates, the electricity industry generally and the ability to import, export, transport and store hydrocarbons; cybersecurity threats, including by state and state-sponsored actors, to the energy grid, storage and pipeline infrastructure, information and systems used to operate our businesses, and confidentiality of our proprietary information and personal information of our customers and employees, including ransomware attacks on our systems and the systems of third-party vendors and other parties with which we conduct business, all of which have become more pronounced due to recent geopolitical events and other uncertainties, such as the war in Ukraine; failure of foreign governments and state-owned entities to honor their contracts and commitments; actions by credit rating agencies to downgrade our credit ratings or to place those ratings on negative outlook and our ability to borrow on favorable terms and meet our debt service obligations; the impact of energy and climate policies, legislation, rulemaking and disclosures, as well as related goals set and actions taken by companies in our industry, including actions to reduce or eliminate reliance on natural gas generally and any deterioration of or increased uncertainty in the political or regulatory environment for California natural gas distribution companies and the risk of nonrecovery for stranded assets; the pace of the development and adoption of new technologies in the energy sector, including those designed to support governmental and private party energy and climate goals, and our ability to timely and economically incorporate them into our business; weather, natural disasters, pandemics, accidents, equipment failures, explosions, acts of terrorism, information system outages or other events that disrupt our operations, damage our facilities and systems, cause the release of harmful materials, cause fires or subject us to liability for property damage or personal injuries, fines and penalties, some of which may not be covered by insurance, may be disputed by insurers or may otherwise not be recoverable through regulatory mechanisms or may impact our ability to obtain satisfactory levels of affordable insurance; the availability of electric power and natural gas and natural gas storage capacity, including disruptions caused by failures in the transmission grid or limitations on the withdrawal of natural gas from storage facilities; the impact of the COVID-19 pandemic, including potential vaccination mandates, on capital projects, regulatory approvals and the execution of our operations; the impact at San Diego Gas & Electric Company (SDG&E) on competitive customer rates and reliability due to the growth in distributed and local power generation, including from departing retail load resulting from customers transferring to Community Choice Aggregation and Direct Access, and the risk of nonrecovery for stranded assets and contractual obligations; Oncor Electric Delivery Company LLC’s (Oncor) ability to eliminate or reduce its quarterly dividends due to regulatory and governance requirements and commitments, including by actions of Oncor’s independent directors or a minority member director; volatility in foreign currency exchange, inflation and interest rates and commodity prices, including inflationary pressures in the U.S., and our ability to effectively hedge these risks and with respect to inflation and interest rates, the impact on SDG&E’s and SoCalGas’ cost of capital and the affordability of customer rates; changes in tax and trade policies, laws and regulations, including tariffs, revisions to international trade agreements and sanctions, such as those that have been imposed and that may be imposed in the future in connection with the war in Ukraine, which may increase our costs, reduce our competitiveness, impact our ability to do business with certain current or potential counterparties, or impair our ability to resolve trade disputes; and other uncertainties, some of which may be difficult to predict and are beyond our control.
These risks and uncertainties are further discussed in the reports that Sempra has filed with the U.S. Securities and Exchange Commission (SEC). These reports are available through the EDGAR system free-of-charge on the SEC's website, www.sec.gov, and on Sempra’s website, www.sempra.com. Investors should not rely unduly on any forward-looking statements.
Sempra Infrastructure, Sempra Texas, Sempra Texas Utilities, Oncor and Infraestructura Energética Nova, S.A.P.I. de C.V. (IEnova) are not the same companies as the California utilities, SDG&E or SoCalGas, and Sempra Infrastructure, Sempra Texas, Sempra Texas Utilities, Oncor and IEnova are not regulated by the CPUC.
Only for SEC filings/Earnings:
None of the website references in this press release are active hyperlinks, and the information contained on, or that can be accessed through, any such website is not, and shall not be deemed to be, part of this document.
Anthony Wagner
San Diego Gas & Electric
877-866-2066
sdge.com
Twitter: @sdge
AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (“REG”) (Nasdaq: REGI), a leading bio-based diesel producer in North America, announced that its stockholders voted to adopt the previously announced definitive agreement (the “Merger Agreement”), in which REG will be acquired by Chevron Corporation (“Chevron”) (NYSE: CVX) (the “Merger”), one of the world’s leading energy companies. At the May 17 annual meeting, REG stockholders adopted the Merger Agreement with more than 80% of the shares outstanding and entitled to vote voting in favor of the Merger. REG expects to file with the Securities and Exchange Commission a Current Report on Form 8-K disclosing the final voting results.
“We are pleased with the outcome of today’s shareholder vote, which is a key step to closing the transaction. After the transaction is complete, we believe the organization will continue delivering the sustainable fuels that our customers and the world need,” said CJ Warner, REG CEO & President.
The Merger is expected to close mid-year 2022, subject to customary closing conditions, including the receipt of regulatory approvals.
About Renewable Energy Group, Inc.
REG is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. REG is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. REG utilizes a global integrated procurement, distribution, and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, REG produced 480 million gallons of cleaner fuel delivering 4.1 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
About Chevron Corporation
Chevron is one of the world’s leading integrated energy companies. Chevron believes affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and the industry. Chevron is focused on lowering the carbon intensity in its operations and seeking to grow lower carbon businesses along with is traditional business lines. More information about Chevron is available at www.chevron.com.
Cautionary Statements Regarding Forward-Looking Information
This announcement contains “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the statement and generally arise when REG or its management is discussing its beliefs, estimates or expectations. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “estimates,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. These statements are not historical facts or guarantees of future performance but instead represent only the beliefs of REG and its management at the time the statements were made regarding future events which are subject to certain risks, uncertainties and other factors, many of which are outside REG’s control. Actual results and outcomes may differ materially from what is contained in such forward-looking statements as a result of various factors, including, without limitation: (1) the inability to consummate the transaction within the anticipated time period, or at all, due to any reason, including the failure to obtain required regulatory approvals or the failure to satisfy the other conditions to the consummation of the Merger; (2) the risk that the Merger disrupts REG’s current plans and operations or diverts management’s attention from its ongoing business; (3) the effect of the announcement of the Merger on the ability of REG to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business; (4) the effect of the announcement of the Merger on REG’s operating results and business generally; (5) the amount of costs, fees and expenses related to the Merger; (6) the risk that REG’s stock price may decline significantly if the Merger is not consummated; (7) the nature, cost and outcome of any litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against REG and others; (8) other factors that could affect REG’s business such as, without limitation, the availability, future price, and volatility of feedstocks, petroleum and products derived from petroleum; changes in governmental programs and policies requiring or encouraging the use of biofuels; availability of federal and state governmental tax incentives and incentives for bio-based diesel production; changes in the spread between bio-based diesel prices and feedstock costs; the potential impact of COVID-19 on our business and operations; any disruption of operations at our Geismar renewable diesel refinery (which would have a disproportionately adverse effect on our profitability); the unexpected closure of any of our facilities; the effect of excess capacity in the bio-based diesel industry and announced large plant expansions and potential co-processing of renewable diesel by petroleum refiners; unanticipated changes in the bio-based diesel market from which we generate almost all of our revenues; and seasonal fluctuations in our operating results; technological advances or new methods of bio-based diesel production or the development of energy alternatives to bio-based diesel; and (9) other risks to consummation of the proposed Merger, including the risk that the proposed Merger will not be consummated within the expected time period or at all.
If the proposed transaction is consummated, REG’s stockholders will cease to have any equity interest in REG and will have no right to participate in its earnings and future growth. Certain of these and other factors are identified and described in more detail in REG’s Annual Report on Form 10-K for the year ended December 31, 2021 as well as REG’s subsequent filings and is available online at www.sec.gov. Readers are cautioned not to place undue reliance on REG’s projections and other forward-looking statements, which speak only as of the date thereof. Except as required by applicable law, REG undertakes no obligation to update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contacts:
Roderick Green
Chevron
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Todd Robinson
REG
515-766-8906
Media Contacts:
Tyler Kruzich
Chevron
925-549-8686
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Katie Stanley
REG
515-357-8095
Project aims to eliminate waste, reduce energy, and enable reuse of both titanium dioxide and polymers in new products
WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, announced its participation leading a three-year recycling research project in collaboration with industry, academic, and government experts to develop an efficient, cost-effective, and more sustainable process for recovering titanium dioxide (TiO2) and polymers from plastic end-use products. The initiative, dubbed Remove2Reclaim, has the potential to drive significant environmental benefits, eliminating waste and reducing the amount of energy used in manufacturing, by enabling circularity across a much wider range of applications.
Current commercial scale recycling technologies do not allow polymers and additives to be effectively removed and separated, limiting the potential applications and overall quality of products made with recycled plastic. Remove2Reclaim is designed to change that. The project goal is to develop commercial-scale detection and extraction technologies that enable the removal and recovery of TiO2 and polymers for reuse.
“Through the Remove2Reclaim initiative, we hope to help crack the code on effective plastic recycling, achieving a new level of circularity for the industry,” said Steven De Backer, EMEA Technical Marketing Manager at Chemours. “This initiative has the potential to reclaim thousands of tons of TiO2 from different end-of-life streams, reducing raw material demands, and creating a new TiO2 supply stream for our customers. We’re honored to lead this project in collaboration with a team of experts from across the value chain to pursue a common goal that benefits our shared planet.”
In the project’s first year, research partners have developed a sorting mechanism to effectively identify plastic wastes that contain TiO2 and determined innovative solvent-based extraction routes to remove TiO2 from different polymer matrices. Other project milestones include developing methods and equipment to detect TiO2 in specific polymer matrices, recovering TiO2 from the polymer by dissolution route, and eventually reusing the TiO2 and polymer in new products.
“At Chemours, we aspire to be the most sustainable TiO2 enterprise in the world, and that requires applying our expertise to some of the world’s greatest challenges, including plastic circularity,” said Ed Sparks, President of Titanium Technologies at Chemours. “We’re committed to leveraging responsible chemistry and cross-industry collaboration to solve our customers’ challenges with minimal impact on our shared planet. Remove2Reclaim is a great example of this model at work.”
The Remove2Reclaim project kicked off in September 2020 with the support of Catalisti, the spearhead cluster for the chemical and plastics industry in Flanders, Belgium. It includes a collaboration of the public and private sectors, including Chemours as the project coordinator, INEOS Styrolution, Lybover, Deceuninck, Matco Plastics, Centexbel, VITO, Ghent University, and KU Leuven. The project also received funding from VLAIO, the Flanders Innovation and Entrepreneurship Agency.
“Remove2Reclaim is an exciting project with the potential to turn recycling ambitions into circular solutions that benefit our planet,” reads a statement from Catalisti. “By bringing together leaders in the industry, academic, and government spheres, we’re taking a holistic approach that engages the entire value chain. The project has gained momentum under Chemours’ leadership, and we’re looking forward to seeing this initiative continue making progress toward achieving its goal of producing an innovative new recycling process.”
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,300 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours’ control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
INVESTORS
Jonathan Lock
SVP, Chief Development Officer
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Manager, Investor Relations
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AUSTIN, Texas--(BUSINESS WIRE)--#carbonfootprint--Businesses are being held accountable for their environmental impact. Some companies have taken a proactive approach by announcing their plans to reach net zero, while others are considering more modest reductions to reduce operational expenditures. A few weeks ago, the Securities and Exchange Commission (SEC) issued a proposal requiring public companies to disclose climate risk and greenhouse gas (GHG) emissions data, prompting executives to examine their current energy usage.
The challenge? Business leaders don’t know where to begin.
“There’s a huge knowledge gap here,” says Rich McBee, President & CEO of CLEAResult, “and we’re uniquely qualified to not just fill it—but do it better and faster than any other business.”
CLEAResult is North America’s leading provider of energy efficiency solutions and recently became the Official Energy Efficiency Partner of the Boston Red Sox. They have worked primarily with utility companies to save homes and businesses money by reducing energy use for the past 20 years. Now, they’re expanding their expertise to work directly with forward-thinking business and community organizations like manufacturers, healthcare providers, schools, stadiums and more.
Rob Beckwith, CLEAResult’s VP of Carbon Consulting Business Development, noted, “Environmental, social and governance (ESG) issues have become increasingly important to investors, advisors and regulators in recent years. Over the past two decades, companies that have successfully embraced ESG performance into their corporate DNA have outperformed others in terms of stock price, overall management, and ‘peer perception’ within their respective industries.”
Leveraging two decades of experience, CLEAResult has developed practical solutions to measure and reduce businesses’ annual carbon emissions, with the ultimate goal of reaching net zero. In 2021 alone, they helped save people over $9 billion on their energy bills through efficiency upgrades and averted more than 22.8 million metric tons of CO2 emissions from our environment.
CLEAResult’s Carbon Consulting services offer a comprehensive portfolio of energy and GHG emissions reduction solutions, rather than delivering limited scopes of work. Their energy experts begin by measuring an organization’s current GHG emissions and providing energy-efficient measures to reduce them. From there, they recommend ways to transition to renewable energy and purchase carbon credits to further decrease carbon footprints. This approach enables companies to bring CLEAResult in at any stage of the process and lean on them as a singular resource for measuring, planning, implementing and improving their reduction strategies.
“We keep things simple for our clients. All the technical and tedious work is handled in-house.” McBee continued. “Businesses are busy, we get that. But when we show them how much money they’ll save and the impact it will have on our environment, all of their employees get excited–not just the executives.”
CLEAResult is currently offering free consultations for companies looking to lower their energy costs and carbon emissions. Visit CLEAResult.com/carbon-consulting for more information.
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.
Follow us on: Facebook | LinkedIn | Twitter | Instagram
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Amber Tester
Director Corporate Communications
Expanded decommissioning presence represents significant step for Helix’s Energy Transition business model
HOUSTON--(BUSINESS WIRE)--Helix Energy Solutions Group, Inc. ("Helix") (NYSE: HLX) announced today that it has entered into a definitive agreement to acquire 100% of the equity interests of the Alliance group of companies (collectively “Alliance”) for $120 million cash at closing, plus the potential for post-closing earnout consideration.
Alliance Overview
Alliance is a Louisiana-based privately held company that provides services in support of the upstream and midstream industries in the Gulf of Mexico shelf, including offshore oil field decommissioning and reclamation, project management, engineered solutions, intervention, maintenance, repair, heavy lift and commercial diving services.
Transaction Highlights
Management Commentary
“Based on a number of market and regulatory drivers and our current expectations, we fully believe that the offshore oil and gas decommissioning market will grow significantly in the near term,” said Owen Kratz, Helix’s President and Chief Executive Officer. “This acquisition complements Helix’s present deepwater abandonment offerings by adding shelf and facility abandonment capabilities, and significantly enhances our position as a full-field abandonment services provider, both in the Gulf of Mexico and globally. We also see possibilities to expand our opportunities within our existing late-life production business. We are thrilled at the prospect of adding Alliance to the Helix family, and we believe this acquisition is a meaningful step in Helix’s responsible participation in this age of Energy Transition.”
“This transaction represents the culmination of many years of hard work, as we have grown Alliance from the ground up,” commented Steve Williams, owner of Alliance. “Our recent successes in acquiring and developing businesses and assets to establish Alliance as an offshore shallow water energy services company has led us to Helix, who we see as the industry standard in deepwater energy services. We are excited for the potential combination of Helix and Alliance and the value proposition we can bring to our customers.”
Transaction Details
The purchase price is equal to $120 million of cash at closing, plus the potential for post-closing earnout consideration payable in 2024, in the event the Alliance business achieves certain financial metrics in 2022 and 2023. Helix has the option to pay any earnout consideration in cash, Helix stock, or a combination thereof. The agreement contains customary terms and conditions, including representations, warranties and covenants including buyer-side protections.
The acquisition is expected to close mid-2022 and is subject to regulatory approvals and other customary conditions. There is no guarantee that the transaction will be consummated on the terms or timeframe currently contemplated, or at all.
About Helix
Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations. For more information about Helix, please visit www.helixesg.com.
Non-GAAP Financial Measures
1 This press release makes reference to EBITDA, free cash flow, liquidity and net debt, which are non-GAAP financial measures. EBITDA is defined as earnings before income taxes, net interest expense, gain or loss on extinguishment of long-term debt, net other income or expense, and depreciation and amortization expense. Free cash flow is defined as cash flows from operating activities less capital expenditures, net of proceeds from sale of assets. Liquidity is calculated as the sum of cash and cash equivalents and available capacity under Helix’s $80 million ABL facility and excludes restricted cash. Net debt is calculated as long-term debt including current maturities of long-term debt less cash and cash equivalents and restricted cash.
2 Pro forma amounts represent March 31, 2022 balances, adjusted for payment of the transaction purchase price with cash on hand, previously scheduled repayment of debt, and the release of cash collateral on a temporary importation bond.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that could cause results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitation, any statements regarding the proposed transaction, the COVID-19 pandemic and oil price volatility and their respective effects and results, protocols and plans, current work continuing, the spot market, spending and cost reduction plans and the ability to manage changes; strategy; any statements regarding visibility and future utilization; any projections of financial items; any statements regarding future operations expenditures; any statements regarding plans, strategies and objectives for future operations; any statements regarding the ability to enter into, renew and/or perform commercial contracts; any statements concerning developments; any statements regarding environmental, social and governance (“ESG”) initiatives; any statements regarding future economic conditions or performance; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors that could cause results to differ materially from those in the forward-looking statements, including but not limited to the results and effects of the COVID-19 pandemic and actions by governments, customers, suppliers and partners with respect thereto; market conditions; results from acquired properties; demand for services; the performance of contracts by suppliers, customers and partners; actions by governmental and regulatory authorities; operating hazards and delays, which include delays in delivery, chartering or customer acceptance of assets or terms of their acceptance; the ability to secure and realize backlog; the effectiveness of ESG initiatives and disclosures; human capital management issues; complexities of global political and economic developments; geologic risks; volatility of oil and gas prices and other risks described from time to time in reports filed with the Securities and Exchange Commission ("SEC"), including those most recently filed Annual Report on Form 10-K and in other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. The parties assume no obligation and do not intend to update these forward-looking statements, which speak only as of their respective dates, except as required by law.
Erik Staffeldt
Executive Vice President & CFO
281-618-0465
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HOUSTON--(BUSINESS WIRE)--Quorum Software (Quorum), the global software leader dedicated to the energy industry, will exhibit its market-leading, cloud solutions including Energy Components, Planning Space, and FLOWCAL at the Australian Petroleum Production & Exploration Association (APPEA) 2022 Conference and Exhibition.
Through May 19, APPEA attendees can meet with Quorum’s experts at booth #54 in the Brisbane Convention & Exhibition Centre to learn more about Energy Components, the company’s end-to-end solution for hydrocarbon management, and experience a live demonstration of their complete portfolio of integrated planning, economics, and reserves, featuring Planning Space and its companion applications Val Nav, Previso, and Enersight. The company is also showcasing FLOWCAL, the industry-leading measurement software designed to consolidate, validate, correct, balance, and report meter data for gas and liquids.
“We are thrilled to attend our first APPEA Conference at a time when Australia and other markets are increasing focus on import and export terminals to supply the world’s energy,” said Paul Langenbahn, President of Quorum Software.
“We look forward to sharing our solutions, which represent the deepest and widest application suite across the energy value chain worldwide,” said Justin Curle, Director, Australia & New Zealand of Quorum Software. “We are excited to join conversations about the latest industry trends and innovations and forging stronger bonds with market leaders from across the entire spectrum of oil and gas.”
More than 1,800 customers globally rely on Quorum’s portfolio of energy solutions to streamline key business functions and drive efficiency across the energy value chain.
About Quorum Software
Quorum Software is the largest fully dedicated energy industry software provider in the world, serving more than 1,800 customers across the entire energy value chain in 55 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.
About APPEA
The APPEA 2022 Conference and Exhibition was established more than 59 years ago and is widely recognized as the premier oil and gas event in the southern hemisphere. It’s where the energy sector comes together to talk about the latest research, innovations, and key challenges. The event hosts more than 120 exhibiting countries, with key representatives from government bodies, energy consultancy groups, global industry associations, oil, and gas producers and more.
To learn more about Quorum’s software solutions, visit quorumsoftware.com.
To learn more about APPEA, visit www.appeaconference.com.au.
Media:
Lauren Force
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617 502 4366
VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen” or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), announces that it has filed with the TSX Venture Exchange (“TSXV”) a Notice of Intention to Make a Normal Course Issuer Bid (“NCIB”), which will allow EverGen to purchase issued and outstanding common shares of EverGen (“Common Shares”) through the facilities of the TSXV during a 12 month period, commencing on May 23, 2022 and ending on May 23, 2023, or on such earlier date as EverGen may complete its purchases pursuant to the NCIB or as it may otherwise determine. The implementation of the NCIB remains subject to the approval of the TSXV.
The Company plans to implement the NCIB because it believes that, from time to time, the market price of the Common Shares may not fully reflect the underlying value of the Company's business and its future prospects. Accordingly, the Company believes that having the ability to purchase the Common Shares using cash flow will be in the interest of the Company and represents an opportunity to enhance shareholder value. No previous purchases of Common Shares by EverGen pursuant to an NCIB have been completed.
Under the NCIB, if approved by the TSXV, EverGen may acquire up to an aggregate of 668,370 Common Shares over the 12 month period, representing approximately 5% of the 13,367,392 issued and outstanding Common Shares as of May 15, 2022. Additionally, under the NCIB, EverGen may not acquire more than 2% of the issued and outstanding Common Shares in any 30 day period.
Purchases subject to this NCIB will be carried out pursuant to open market transactions through the facilities of the TSXV by Clarus Securities Inc., a Member as defined by the TSXV and its policies, on behalf of EverGen at the prevailing market price of the Common Shares at the time of purchase. All Common Shares purchased by EverGen under the NCIB will be returned to treasury and cancelled.
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, headquartered on the West Coast. EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on Canada, with continued growth expected across other regions in North America and beyond.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
Cautionary Statements Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”, and or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the approval of the NCIB by the TSXV and EverGen’s intention to purchase Common Shares pursuant to the NCIB. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive board, shareholder, court or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, EverGen assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
EverGen Investor Contact
Kelly Castledine
416-576-8158
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EverGen Media Contact
Katie Reiach
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Two of the leading global Fleet Management and Maintenance platforms have integrated to improve the sustainability of fleets across the world.
CHARLOTTE, N.C.--(BUSINESS WIRE)--#partnership--Samsara is the pioneer of the Connected Operations Cloud, which enables businesses to harness IoT (Internet of Things) data from vehicles, equipment, and warehouses to develop actionable insights and improve operations. Samsara serves over 20,000 customers, providing visibility into their entire operations and improving safety, efficiency, and sustainability as a result.
Samsara’s partner ecosystem and software integrations are enabled by its open APIs. With thousands of organizations leveraging 155+ API integrations on its App Marketplace, Samsara collects trillions of data points annually and surfaces those insights within a single platform.
Whip Around is a powerful, yet easy-to-use fleet maintenance software solution that connects drivers, mechanics and fleet operators to improve the uptime across their fleet operations. Whip Around operates in North America and Australasia and serves hundreds of thousands of users and assets worldwide across all commercial fleet industry verticals.
When the two systems are connected, odometer and engine hour readings are automatically pulled into Whip Around from Samsara. This way, customers never miss preventative maintenance schedules to ensure reduced downtime and improved fuel efficiency.
It takes fleets from a reactive costly process to a proactive approach, saving them thousands of dollars each year on each vehicle and asset in their operation.
Drivers have the ability to submit defects from both the Samsara and/or Whip Around apps via the Samsara Driver App making for a seamless and efficient driver experience. DTC Fault Codes, Inspection Defects and Servicing can be grouped into Work Orders in Whip Around, and bulk assigned to mechanics to ensure efficiency and real-time tracked workflows. As a result, fleets are kept moving in a sustainable manner.
Elizabeth Santorelly, VP of Product for Whip Around said, “Combining Samsara’s powerful IoT data with Whip Around’s comprehensive fleet maintenance workflows seamlessly to diagnose issues and be proactive with regular service intervals, will provide our mutual customers with improvements to their overall fleet operating performance leading to reduced emissions and cost savings.”
“We’re excited to add Whip Around as our latest partner integration on the Samsara App Marketplace,” said Chris Mozzocchi, Sr. Director of Product Management, Ecosystem Integrations at Samsara. “Proactive fleet maintenance not only improves road safety but also reduces the environmental and economic impact of fleet vehicles. With this Whip Around integration, maintenance workflows are streamlined so customers can operate more efficiently and reduce associated costs.”
As both companies look to help their customers improve operational efficiency and fleet sustainability, this partnership offers unparalleled levels of connectedness and responsiveness - and it would appear it’s already delivering for customers who have utilized the integration.
A number of mutual customers have already seen value in the integration, like Scott Ireland from Sail Energy who manages 132 vehicles and equipment across the northeastern states. They use the combination of Samsara and Whip Around to control their fuel costs by reducing excessive idling time and deploying preventative fleet maintenance measures to improve fuel efficiency of vehicle powerplants.
“I get the idling time, telemetry and fault codes from Samsara and provide information to our 3rd party maintenance vendors through reports in Whip Around. This expedites preventative maintenance which helps manage downtime of our vehicles,” Scott says. “The ability to always know which vehicles are in repair and which are driving unsafely on the road makes this possible for me. This has a direct positive effect on reducing costs of our fleets, improving service to our customers through reduced breakdowns, improving vehicle economy, and most importantly, giving our drivers safe vehicles to work with.”
About Samsara
Samsara is the pioneer of the Connected Operations Cloud, which allows businesses that depend on physical operations to harness IoT (Internet of Things) data to develop actionable business insights and improve their operations. Samsara operates in North America and Europe and serves tens of thousands of customers across a wide range of industries including transportation, wholesale and retail trade, construction, field services, logistics, utilities and energy, government, healthcare and education, manufacturing, and food and beverage. The company's mission is to increase the safety, efficiency, and sustainability of the operations that power the global economy.
About Whip Around
Whip Around is a powerful, yet easy-to-use fleet maintenance software solution that connects drivers, mechanics and fleet operators to improve the uptime across their fleet operations. Whip Around operates in North America and Australasia and serves hundreds of thousands of users and assets worldwide across all commercial fleet industry verticals. The company’s mission is to keep the world’s fleets moving by accelerating information.
Lauren Yeoman
704.412.3986
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SAN DIEGO--(BUSINESS WIRE)--$DFCO #BrianBonar--Dalrada Corporation (OTCQB: DFCO, "Dalrada") announced today that United States General Services Administration (GSA) and the Department of Energy (DOE) have chosen the Company’s Likido®ONE heat pump to help reduce greenhouse emissions from commercial buildings through high performance, low-carbon solutions set forth by the Green Proving Ground (GPG) program. Likido®ONE will now be evaluated under dynamic, real-world conditions in federally or privately-owned commercial buildings.
“Programs like the GPG highlight the growing need for bold energy solutions and accelerate the adoption of clean technologies,” said Jose Arrieta, Director of Emerging Technologies on the Dalrada Board of Directors, and former Chief Information Officer and Interim Chief Data Officer of the Department of Health and Human Services. According to Arrieta, “distributed energy resources (DERs), like the Likido®ONE heat pump, will help tackle the climate crisis by cutting costs, improving public health, and significantly reducing emissions.”
The DOE has publicly stated that its top priority is addressing climate change. Joining forces with the GSA in a concerted effort to decarbonize heat, the GPG program calls for technologies that use next-generation, low or no GWP refrigerants.
Dalrada’s flagship product, Likido®ONE, is a combustion-free, CO2-based heat pump that:
The GSA is the largest public real estate organization in the United States, with a portfolio of more than 8,800 assets, including more than 500 historic properties, and manages almost 370 million square feet of rentable workspace for more than a million federal employees. The GPG program ultimately leverages the GSA's real estate portfolio to evaluate innovative building technologies and implement de-carbonization solutions where applicable.
Brian Bonar, Dalrada's Chairman and CEO, states, "We’re honored to be recognized by the GSA and DOE as a green energy innovator. The Green Proving Ground program is the perfect platform to showcase how the de-carbonization capabilities of the Likido®ONE heat pump can potentially drive down operational costs in buildings and help lead market transformation through the deployment of bold, new technologies."
Likido®ONE heat pumps are an alternative to traditional greenhouse gas-producing water heaters (boilers) that rely heavily on fossil fuels. The Company's clean energy innovations enable institutions, industries, and businesses to implement long-term Net-Zero environmental, sustainability, and governance (ESG) initiatives by or before 2050.
About Dalrada
Dalrada Corporation drives innovation that positively impacts people, businesses, and the planet. With subsidiaries that are firmly positioned in the world's top three-growing industries of healthcare, clean energy, and technology, Dalrada creates solutions that are sustainable, affordable, and accessible.
The company works continually to produce disruptive products and services that accelerate positive change for current and future generations. Dalrada's global solutions directly address climate change, post-pandemic gaps in the healthcare industry, and technology solutions for a new era of human behavior and interaction, ensuring a bright future for the world around us.
Established in 1982, Dalrada has since grown its footprint to include the unique business divisions: Dalrada Health, Dalrada Precision, and Dalrada Technologies. Please visit www.dalrada.com and follow us on Twitter, Facebook, and LinkedIn for more information.
Disclaimer
Statements in this press release that are not historical facts, the statements are forward-looking, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions, and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors and will be dependent upon a variety of factors including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations regarding these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the US Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
Denise Mahaffey
858.283.1253
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DUBLIN--(BUSINESS WIRE)--The "Middle East Oil and Gas Projects Analysis and Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The Middle East is expected to witness 598 projects to commence operations during the period 2022-2026. Out of these, upstream projects would be 79, midstream would be 140, refinery at 89 and petrochemicals would the highest with 290 projects respectively.
Report Scope:
Key benefits:
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For more information about this report visit https://www.researchandmarkets.com/r/r2siu1
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Laura Wood, Senior Press Manager
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The new nickel-zinc generator starting solution offers best in class power, reliability, and service life for mission-critical back up and industrial applications.
PORTLAND, Ore. & LONGMONT, Colo.--(BUSINESS WIRE)--ZincFive®, the world leader in nickel-zinc battery-based solutions for immediate power applications, and Stored Energy Systems (SENS), the leader in battery charging solutions for industrial gensets, announced a new generator starter solution featuring ZincFive’s transformational, safe, and sustainable nickel-zinc batteries.
Generators are essential for mission-critical backup applications. SENS has partnered with ZincFive to offer an innovative plug-and-play generator starter solution as a drop-in replacement option for existing field installations and new OEM generators. ZincFive’s safe and power-dense nickel-zinc battery offers unparalleled power delivery, a smaller footprint, higher reliability, lower cost, and significant sustainability advantages compared to other battery chemistries.
“We couldn’t be more excited about this partnership with ZincFive,” said Olen Scott, Chief Revenue Officer for SENS. “SENS has been supplying battery chargers to the generator market for over 50 years, and we haven’t seen a battery that comes close to ZincFive’s in terms of the amount of starting power in such a small, lightweight, green, and robust package. ZincFive’s battery is fully recyclable, made wholly from non-toxic materials, and has a much lower carbon footprint than existing technologies, further supporting our customers in their own ESG initiatives. It comes as no surprise that the response from our customer community to a greener, entirely maintenance-free engine starting module that is backed up by a full 10-year replacement warranty has been extraordinary.”
“As we continue our rapid expansion into various high-power applications – such as data center UPS – engine starting is a natural fit for the defining attributes of our battery,” said Tim Hysell, Co-founder and CEO of ZincFive. “SENS is a trusted leader in this segment and has been a great partner throughout the product development and testing phases of our collaboration. We have no doubt that this partnership will make nickel-zinc the preferred battery technology for generator starting.”
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries and power solutions. With more than 90 patents awarded, ZincFive technology harnesses The Power of Good Chemistry to propel the world forward. ZincFive technology leverages the safety and sustainability of nickel-zinc chemistry to provide high power density and performance to mission critical applications. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
ZincFive is a registered trademark and the ZincFive logo and The Power of Good Chemistry are trademarks of ZincFive, Inc.
About SENS
SENS is the market leader in non-stop DC power systems, mission-critical filtered chargers, and engine start chargers. SENS meticulous design and quality control delivers charger reliability as close to “bulletproof” as is technically possible. For SENS users these dual reliability advantages mean lowest risk of costly downtime. For more information, visit https://sens-usa.com.
Media: Carlos Villacis, Antenna for ZincFive, This email address is being protected from spambots. You need JavaScript enabled to view it.
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