DALLAS & HOUSTON--(BUSINESS WIRE)--Texas Pacific Land Corporation (NYSE: TPL) (“TPL”) together with Milestone Carbon, LLC today announced that a Letter of Intent (“LOI”) has been executed between TPL and Milestone Carbon to evaluate geological and geophysical characteristics of certain acreage owned by TPL for the purposes of sequestering captured CO2. Milestone Carbon is a leading carbon capture company that offers turnkey solutions for the permanent geological sequestration of CO2 for significant industrial emitters. Milestone Carbon will perform the evaluation, which will cover approximately 21,000 acres in the Permian Basin, and, if successful, would potentially develop the acreage in connection with a carbon capture and sequestration (“CCS”) project.
“CCS is a proven technology that can provide actionable means to achieve a low-carbon future,” said Milestone Carbon President and CEO Gabriel Rio. “Milestone Carbon was created to develop, own, and operate environmental infrastructure that will enable industry to meaningfully decarbonize. Such infrastructure will be crucial in the fight against climate change and will support the industries that provide the energy and materials our economy depends on. TPL’s vast land holdings and deep industry experience make them an ideal partner for Milestone Carbon. We are thrilled to join with them to develop CCS infrastructure in the Permian Basin.”
“We have long been responsible stewards of our expansive land holdings, and that longstanding focus has served as a good foundation for enhancing our commitment to sustainability and the environment,” said Tyler Glover, CEO of TPL. “Carbon capture can be a key tool in the quest for ‘net zero’, and TPL’s expansive surface footprint could potentially serve as a key resource to permanently sequester carbon. We are constantly looking for ways to leverage the unique features of our surface assets, and carbon capture is an exciting opportunity that could serve a dual purpose of creating value for our shareholders while also benefitting the environment.”
Today’s announcement further highlights TPL’s strong commitment to Environmental, Social, and Governance (“ESG”) initiatives. Sustainalytics, a leading provider of ESG research, ratings, and data to institutional investors and companies, recently provided its risk rating for TPL. Out of all entities in the Oil and Gas Producers Industry, TPL ranked #1 and #2 in the U.S. and globally, respectively. Among nearly 15,000 companies globally, TPL was ranked in the top 5th percentile. “TPL is proud of its ESG efforts and to be recognized by Sustainalytics as a top ESG performer, and we will continue to endeavor to build upon our successes to date,” said Tyler Glover.
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation (NYSE: TPL) is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. TPL is not an oil and gas producer, but its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. TPL also generates revenue from pipeline, power line and utility easements, commercial leases, and seismic and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
About Milestone Carbon
Milestone Carbon, LLC is a subsidiary of Milestone Environmental Services, LLC (“Milestone”). Milestone Carbon offers turnkey solutions for the permanent geological sequestration of CO2—including design, permitting, development, and operations—for midstream and other significant industrial emitters. Applying Milestone’s vast knowledge and experience of developing complex injection operations, Milestone Carbon customers will benefit from the safe, reliable disposal and monetization of their carbon dioxide emissions through state-of-the-art injection facilities.
TPL Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Milestone Carbon
This email address is being protected from spambots. You need JavaScript enabled to view it.
Exhibiting at Booth #2055 at Las Vegas Convention Center, June 21-23
SOLON, Ohio--(BUSINESS WIRE)--#EnFocus--Energy Focus, Inc. (NASDAQ:EFOI) , a leader in sustainable, energy-efficient lighting and control systems and ultraviolet-c light disinfection (“UVCD”) products for the commercial, military maritime and consumer markets, will showcase its three core product lines at LightFair 2022, to be held at the Las Vegas Convention Center on June 21-23, 2022.
The products taking center stage at the Energy Focus booth, #2055, will be:
“With an increased emphasis on our engineering and sales operations, we have built upon our established reputation in the market and are enthused about introducing strategic and innovative improvements to our product lines that we expect will be met with industry-wide adoption and customer satisfaction,” said Greg Galluccio, Senior Vice President of Product Management and Engineering for Energy Focus. “We are also looking forward to introducing the latest innovations to EnFocus™ that incorporate our patented power line control technology, and enable hardwired, digital dimming and color tuning control to any lighting circuit without additional control wiring. We believe this disruptive technology will speed up the adoption of lighting controls in the commercial space.”
Members of the media who would like to meet with management at LightFair should email: This email address is being protected from spambots. You need JavaScript enabled to view it.
About LightFair
LightFair, the world’s largest annual architectural and commercial lighting trade show and conference, is owned by the International Association of Lighting Designers (IALD), the Illuminating Engineering Society (IES) and International Market Centers. For more information, please visit LightFair.com. Join the #LightFair conversation on Facebook, Twitter @lightfair, Instagram @lightfair_international, LinkedIn, YouTube and lightfairblog.com.
About Energy Focus
Energy Focus is an industry-leading innovator of sustainable light-emitting diode (“LED”) lighting and lighting control technologies and solutions, as well as UVC Disinfection technologies and solutions. As the creator of the first flicker-free LED lamps, Energy Focus develops high quality LED lighting products and controls that provide extensive energy and maintenance savings, as well as aesthetics, safety, health and sustainability benefits over conventional lighting. Our EnFocus™ lighting control platform enables existing and new buildings to provide quality, convenient and affordable, dimmable and color-tunable, circadian and human-centric lighting capabilities. In addition, our patent-pending UVCD technologies and products aim to provide effective, reliable and affordable UVCD solutions for buildings, facilities and homes. Energy Focus’ customers include U.S. and U.S. ally navies, U.S. federal, state and local governments, healthcare and educational institutions, as well as Fortune 500 companies. Since 2007, Energy Focus has installed approximately 900,000 lighting products across the U.S. Navy fleet, including tubular LEDs, waterline security lights, explosion-proof globes and berth lights, saving more than five million gallons of fuel and 300,000 man-hours in lighting maintenance annually. Energy Focus is headquartered in Solon, Ohio. For more information, visit our website at www.energyfocus.com .
Media:
DGI Comm
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Hayden IR
Brett Maas
646-536-7331
DALLAS & HOUSTON--(BUSINESS WIRE)--#carboncapture--Texas Pacific Land Corporation (NYSE: TPL) (“TPL”) together with Milestone Carbon, LLC today announced that a Letter of Intent (“LOI”) has been executed between TPL and Milestone Carbon to evaluate geological and geophysical characteristics of certain acreage owned by TPL for the purposes of sequestering captured CO2. Milestone Carbon is a leading carbon capture company that offers turnkey solutions for the permanent geological sequestration of CO2 for significant industrial emitters. Milestone Carbon will perform the evaluation, which will cover approximately 21,000 acres in the Permian Basin, and, if successful, would potentially develop the acreage in connection with a carbon capture and sequestration (“CCS”) project.
“CCS is a proven technology that can provide actionable means to achieve a low-carbon future,” said Milestone Carbon President and CEO Gabriel Rio. “Milestone Carbon was created to develop, own, and operate environmental infrastructure that will enable industry to meaningfully decarbonize. Such infrastructure will be crucial in the fight against climate change and will support the industries that provide the energy and materials our economy depends on. TPL’s vast land holdings and deep industry experience make them an ideal partner for Milestone Carbon. We are thrilled to join with them to develop CCS infrastructure in the Permian Basin.”
“We have long been responsible stewards of our expansive land holdings, and that longstanding focus has served as a good foundation for enhancing our commitment to sustainability and the environment,” said Tyler Glover, CEO of TPL. “Carbon capture can be a key tool in the quest for ‘net zero’, and TPL’s expansive surface footprint could potentially serve as a key resource to permanently sequester carbon. We are constantly looking for ways to leverage the unique features of our surface assets, and carbon capture is an exciting opportunity that could serve a dual purpose of creating value for our shareholders while also benefitting the environment.”
Today’s announcement further highlights TPL’s strong commitment to Environmental, Social, and Governance (“ESG”) initiatives. Sustainalytics, a leading provider of ESG research, ratings, and data to institutional investors and companies, recently provided its risk rating for TPL. Out of all entities in the Oil and Gas Producers Industry, TPL ranked #1 and #2 in the U.S. and globally, respectively. Among nearly 15,000 companies globally, TPL was ranked in the top 5th percentile. “TPL is proud of its ESG efforts and to be recognized by Sustainalytics as a top ESG performer, and we will continue to endeavor to build upon our successes to date,” said Tyler Glover.
Forward Looking Statements
Certain matters contained in this press release include “forward-looking statements.” All statements, other than statements of historical fact, included in this press release may constitute forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that these expectations will prove to be correct. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, the risk factors discussed from time to time in each of our documents and reports filed with the SEC.
Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release, which reflect management’s opinions only as of the date hereof. Except as required by law, we undertake no obligation to revise or publicly release the results of any revision to any forward-looking statements.
About Texas Pacific Land Corporation
Texas Pacific Land Corporation (NYSE: TPL) is one of the largest landowners in the State of Texas with approximately 880,000 acres of land in West Texas, with the majority of its ownership concentrated in the Permian Basin. TPL is not an oil and gas producer, but its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of our land, revenue for sales of materials (caliche) used in the construction of infrastructure, providing sourced water and treated produced water, revenue from our oil and gas royalty interests, and revenues related to saltwater disposal on our land. TPL also generates revenue from pipeline, power line and utility easements, commercial leases, and seismic and temporary permits related to a variety of land uses including midstream infrastructure projects and hydrocarbon processing facilities.
About Milestone Carbon
Milestone Carbon, LLC is a subsidiary of Milestone Environmental Services, LLC (“Milestone”). Milestone Carbon offers turnkey solutions for the permanent geological sequestration of CO2—including design, permitting, development, and operations—for midstream and other significant industrial emitters. Applying Milestone’s vast knowledge and experience of developing complex injection operations, Milestone Carbon customers will benefit from the safe, reliable disposal and monetization of their carbon dioxide emissions through state-of-the-art injection facilities.
TPL Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Milestone Carbon
Jessica Clements
This email address is being protected from spambots. You need JavaScript enabled to view it.
42 MW photovoltaic solar array and 42 MW/168 MWh of batteries to be built on underutilized land owned by the Navy to deliver clean, secure, resilient power to O‘ahu
FRAMINGHAM, Mass. & PHOENIX & HONOLULU--(BUSINESS WIRE)--#batteryenergystorage--Ameresco, Inc., (NYSE: AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, and Bright Canyon Energy, a leading developer of energy infrastructure, today announced the proposed Kūpono Solar Project, a combined solar and battery system to be built at the Joint Base Pearl Harbor-Hickam West Loch Annex in Hawai‘i. The proposed project is designed to deliver 42 megawatts (MW) of clean, renewable energy to Hawaiian Electric’s grid on the island of O‘ahu.
Ameresco has been implementing energy solutions in Hawai‘i for over 15 years. Similarly, Bright Canyon has been developing energy infrastructure solutions since 2014. In 2021, Ameresco and Bright Canyon established a joint venture known as Kūpono Solar Development Company, LLC to partner together to advance the Kūpono Solar Project. This is the first project for the joint venture to focus on renewable energy, energy security and resiliency on O‘ahu. In support of a Department of Defense long-term energy security initiative, Kūpono Solar signed a 37-year land lease with the Navy to provide critical energy resiliency upgrades. The lease provides the use of approximately 131 acres of underutilized lands within the Navy West Loch Annex of Joint Base Pearl Harbor-Hickam.
The project includes the installation of a 42 MW photovoltaic solar array and 42 MW/168 MWh (four-hour duration) of lithium-ion battery storage system. The batteries will store solar energy beyond sunset hours, enabling the project to deliver sustainable, renewable energy to power approximately 10,000 homes on O‘ahu. In addition, this clean energy project will be designed to reduce more than 50,000 tons of carbon dioxide annually from Hawai‘i’s environment – the equivalent to offsetting emissions from 12,000 cars every year.
“The Navy is excited to see this joint Kūpono Solar/Hawaiian Electric project move forward for our community’s benefit,” said Capt. Randall E. Harmeyer, Joint Base Pearl Harbor-Hickam public works officer. “This enables us to put 131 acres of underutilized land to long-term, sustainable use for Hawai‘i at a time when the cost and reliability of worldwide energy supplies is of great concern and reflects the Navy’s core commitment to energy security and resiliency for America.”
Ameresco and Bright Canyon are working to bring diverse clean energy solutions to Hawai‘i, and this is the first project supporting this large, long-term energy resiliency plan.
“We are excited to be working with the Navy, Hawaiian Electric, and the community on this important sustainability project in Hawai‘i. The energy generated and stored on this underutilized land will directly benefit the residents, businesses, and communities of O‘ahu,” said Nicole Bulgarino, executive vice president, Ameresco. “In addition, it will replace energy generated by burning fossil fuel, thereby reducing emissions and greenhouse gases and create a cleaner, healthier place for residents to live, work and play.”
“This project aligns with the energy priorities and policies set forth by the state of Hawai‘i, including the 100 percent renewable energy and carbon neutral goals by 2045,” said Jason Smith, General Manager of Bright Canyon Energy. “We are committed to working with Hawaiian Electric, the Navy and the local community as we move forward with this exciting project that will deliver a range of benefits for the clean energy future of O‘ahu.”
Construction is expected to be completed in early 2024. Kūpono Solar, the joint venture, will own and operate this solar and battery project under a 20-year power purchase agreement (PPA) with Hawaiian Electric.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent clean technology integrator of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com.
About Bright Canyon Energy
Bright Canyon Energy is a developer, owner and operator of electric infrastructure in the United States. The company creates sustainable energy solutions for customers, focusing on clean energy, microgrids, energy storage and transmission. With headquarters in Phoenix, Bright Canyon Energy is a wholly owned subsidiary of Pinnacle West Capital Corp. (NYSE: PNW).
The announcement of entering into a contract for an energy asset is not necessarily indicative of the timing or amount of revenue from the energy asset, of Ameresco’s overall revenue for any particular period, or of trends in Ameresco’s overall total assets in development or operation. This project was included in Ameresco’s previously reported assets in development as of March 31, 2022.
Media:
Ameresco: Leila Dillon, 508.661.2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Bright Canyon Energy: Alan Bunnell, 602.250.3376, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Eric Prouty, AdvisIRy Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Lynn Morgen, AdvisIRy Partners, 212.750.5800, This email address is being protected from spambots. You need JavaScript enabled to view it.
Woven City to Model How Hydrogen Energy Improves Everyday Life for All
TOKYO--(BUSINESS WIRE)--TOYOTA MOTOR CORPORATION (“Toyota”) and its subsidiary, Woven Planet Holdings, Inc. ("Woven Planet"), have developed a working prototype of its portable hydrogen cartridge. This cartridge design will facilitate the everyday transport and supply of hydrogen energy to power a broad range of daily life applications in and outside of the home. Toyota and Woven Planet will conduct Proof of Concept (“PoC”) trials in various places, including Woven City, a human-centered smart city of the future currently being constructed in Susono City, Shizuoka Prefecture.
Toyota and Woven Planet are studying a number of viable pathways to carbon neutrality and consider hydrogen to be a promising solution. Hydrogen has significant advantages. Zero Carbon Dioxide (CO2) is emitted when hydrogen is used. Furthermore, when hydrogen is produced using renewable energy sources such as wind, solar, geothermal, and biomass, CO2 emissions are minimized during the production process as well. Hydrogen can be used to generate electricity in fuel cell systems and can also be used as a combustion fuel.
Together with ENEOS Corporation, Toyota and Woven Planet are working to build a comprehensive hydrogen-based supply chain aimed at expediting and simplifying production, transport, and daily usage. These trials will focus on meeting the energy needs of Woven City residents and those living in its surrounding communities.
Benefits of Using Hydrogen Cartridges
Next Steps for the Hydrogen Cartridge
Today most hydrogen is generated from fossil fuels and used for industrial purposes such as fertilizer production and petroleum refining. To use hydrogen as an energy source in our homes and daily life, the technology must meet different safety standards and be adjusted to new environments. In the future, we expect hydrogen will be generated with very low carbon emissions and used in a wider variety of applications. The Japanese government is working on a range of studies to promote the safe early adoption of hydrogen and Toyota and its business partners are excited to offer cooperation and support.
Our goal is to help hydrogen become commonplace by making this clean form of energy safe, convenient, and affordable. By establishing the underlying supply chain, we hope to facilitate the flow of a larger volume of hydrogen and fuel more applications. Woven City will explore and test an array of energy applications using hydrogen cartridges including mobility, household applications, and many future possibilities we have yet to imagine. Together with inventors and those living within and around Woven City, we will continue to advance mobility over time by constantly developing more practical applications for hydrogen cartridges. In future Woven City demonstrations, we will continue to improve the hydrogen cartridge itself, making it increasingly easy to use and improving the energy density.
The ultimate goal of this project is to realize a carbon-neutral society where everyone can access clean energy, first in Japan and then throughout the world. Toyota and Woven Planet aim to develop best practices for incorporating clean hydrogen energy into daily life by conducting human-centered demonstrations in and around Woven City. These real-life experiences will help us learn how to best transform hydrogen into a familiar, well-used, and well-loved form of energy.
The portable hydrogen cartridge prototype will be showcased at Super Taikyu Series 2022 Round 2 at Fuji SpeedWay from June 3 to 5, 2022*3. Our showcase is geared toward teaching people about how hydrogen energy works and helping them imagine the countless ways hydrogen can become a useful part of their daily lives.
*1 Specifications and design are subject to change. The target weight of a full tank (5kg) excludes a valve and protector. Multiple types of receptacles will be considered in the future based on further application research over time.
*2 When electricity is generated by a typical FC system, one hydrogen cartridge is assumed to generate enough electricity to operate a typical household microwave for approximately 3-4 hours (based on the assumption of using a future iteration, high-pressure hydrogen tank with an electricity output of approximately 3.3 kWh/unit).
*3 Our showcase will be on June 4 and June 5 only.
Video Links
English: https://youtu.be/poYJCJR-WRo
Japanese: https://youtu.be/85_6eMJofuY
About Toyota Motor Corporation
Toyota Motor Corporation (Toyota) (NYSE: TM) is the global mobility company that introduced the Prius hybrid-electric car in 1997 and the first mass-produced fuel cell sedan, Mirai, in 2014. Headquartered in Toyota City, Japan, Toyota has been making cars since 1937. Today, Toyota proudly employs 370,000 employees in communities around the world. Together, they build around 10 million vehicles per year in 28 countries and regions, from mainstream cars and premium vehicles to mini-vehicles and commercial trucks, and sell them in more than 170 countries and regions under the brands Toyota, Lexus, Daihatsu and Hino.
For more information, please visit https://global.toyota/en
About Woven Planet
Woven Planet is building the safest mobility in the world. A subsidiary of Toyota, Woven Planet innovates and invests in new technologies, software, and business models that transform how we live, work and move. With a focus on automated driving, smart cities, robotics and more, Woven Planet builds on Toyota's legacy of trust to deliver secure, connected, reliable, and sustainable mobility solutions for all.
Learn more at https://www.woven-planet.global/en
Public Relations, Woven Planet Holdings, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
https://www.woven-planet.global/en/
NEW YORK--(BUSINESS WIRE)--Orion Energy Partners, a leading infrastructure investment firm, today announced that they have changed their name to Orion Infrastructure Capital and will be branded as OIC. The updated brand and website have been launched at www.OIC.com.
OIC is a diversified investment firm with credit, growth, and equity funds. With approximately $3 billion in assets under management, OIC targets investments in North America and select international markets. OIC’s partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure.
“Over the past seven years we have built a dynamic and diverse portfolio of 23 investments that focused on transition infrastructure. While energy infrastructure continues to be a core component of who we are, our investment partnerships go well beyond traditional energy infrastructure with elements of social and environmental innovation across many other infrastructure subsectors. We are pleased to be adopting a new name that better reflects this reality,” said Nazar Massouh, Co-Managing Partner and CEO of OIC.
OIC’s target investment sectors include energy efficiency, digital infrastructure, social infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation, and agriculture.
“With an invigorated resolve to tackle climate change, deliver economic stimulation/infrastructure renewal, and strengthen national security, there are vast investment opportunities to partner with critical businesses that drive sustainability goals and generate significant returns for our investors. OIC has built an important presence around middle market infrastructure investing and with this recent improvement to our brand, and approximately $3 billion in assets under management, we are now even better positioned to execute on our infra credit, growth, and equity strategies,” said Gerrit Nicholas, Co-Managing Partner and CIO of OIC.
About OIC
With approximately $3 billion in assets under management, OIC invests in North America and select international markets. OIC’s unique partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure. OIC’s target investment sectors include energy efficiency, digital infrastructure, social infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation, and agriculture. OIC was founded in 2015 by a team of energy and sustainability veterans, successful infrastructure investors, and former asset owners and industry operators. Across OIC’s platform is a team of 34 professionals based in New York, Houston and London. For more information, please visit www.OIC.com.
Reyno Norval
+1 (212) 292-0345
This email address is being protected from spambots. You need JavaScript enabled to view it.
CO2 reduction by up to 3.1% is expected by regenerative electric power via exhaust gas heat through Thermoelectric Generator unit on a vehicle with 2.0L gasoline engine
HAMAMATSU, Japan--(BUSINESS WIRE)--Yamaha Corporation and Sumitomo Corporation Power & Mobility Co., Ltd., a Sumitomo Corporation Group company (hereafter referred to as “both companies” or “we”), have jointly demonstrated a new waste heat recovery system based on thermoelectric generator (hereafter referred to as “TEG”) technology, which generates electrical power via exhaust gas heat and was proved to reduce CO2 emissions during vehicle testing on a chassis dynamometer (hereafter referred to as “this demonstration test”).
TEG unit, which is installed in a part of vehicle exhaust system, can reduce CO2 emissions following the reduction of alternator load achieved by generating electrical power from unutilized waste exhaust gas and also by early warm-up of engine by heated coolant through TEG unit at engine start.
In this demonstration test TEG unit was installed in a test vehicle, and the generated electrical power from TEG unit and CO2 emissions were measured on a chassis dynamometer. Thanks to the TEG unit, 1.9% of CO2 emissions (i.e. 3.9 g/km) was reduced throughout the European WLTP*1 driving cycle. Following this result, the potential benefit of TEG unit was estimated to be 3.1% CO2 reduction (i.e. 6.4g/km) by further optimization of vehicle installation of TEG unit.
Background of the Development
Recently the activities to realize a carbon neutral society have been accelerated globally and further CO2 reduction has been requested strongly to automotive industry.
TEG has long been drawing attention as one of the environmental technologies, and in the automotive industry various development efforts have been made to materialize the technology to reduce CO2 emissions. However, due to the insufficient performance and reliability of the TEG module, and also lack of engineering work to design the system using TEG unit on a vehicle, the technology has yet to be put into practical use.
In March 2021, both companies commenced sample sales of a TEG module, YGPX024*2, that features the highest output and largest size*3, to investigate market needs. We have now conducted this demonstration test for automotive applications where business on a large market scale can be expected.
Outline of the Demonstration Test
This demonstration test was outsourced to FEV Europe GmbH (Headquarters: Aachen, Germany). A system composed of TEG unit and DC/DC converter was installed in a test vehicle and this demonstration test was conducted on a chassis dynamometer. The details of the demonstration test are as follows.
Test Result
CO2 reduction and electrical output from TEG unit are summarized as follows.
During this demonstration test, there were notable installation restrictions for the TEG unit, and the gas temperature at the exhaust inlet pipe could not reach the target value. Therefore, we conducted an additional test achieving the target gas temperature, and based on the test result, our analysis showed a maximum CO2 emissions reduction of 3.1% (6.4 g/km) by optimizing the vehicle installation of TEG unit.
Future Prospects
It is certain that electrification and higher efficiency of internal combustion engines are essential in automotive industry to realize a carbon neutral society. Most automotive manufacturers require novel technologies for further improvements in CO2 reduction of vehicles with an internal combustion engine. Our goal is to realize a carbon neutral society with our customers through the world’s first practical use of TEG unit for automotive applications.
*1. |
Worldwide harmonized Light duty driving Test Procedure: International standards on exhaust gas emission test cycles and test methods for passenger and light commercial vehicles |
*2. |
For details of the TEG module, please access the following URL. |
|
https://device.yamaha.com/en/thermoelectric_cooler/generator/ |
*3. |
Based on investigations conducted by both companies in 2022 |
*4. |
One of the exhaust gas emission and fuel-efficiency test methods introduced in North America used to measure exhaust gas at high speed and high acceleration |
* All product names and company names are the trademarks or registered trademarks of their respective owners.
* All information is as of the date of release. Information is subject to change after its release.
For media inquiries:
Yamaha Corporation Media Relations Group Corporate Communications Division, Ayumu Sato
Contact Form: https://inquiry.yamaha.com/contact/?act=55&lcl=en_WW
Tel: +81-53-460-2210 (Japanese Correspondence only)
Web: www.yamaha.com
For General Inquiries:
Yamaha Corporation Electric Devices Division
https://device.yamaha.com/en/thermoelectric_cooler/contacts
The leading logistics group for the live event, entertainment, sports, and broadcast industries is growing in-house capabilities throughout the Spanish-speaking world
LOS ANGELES--(BUSINESS WIRE)--Global Critical Logistics (GCL) has acquired Madrid, Spain-based forwarder Asesores de Flete, S.A. (ADF), an experienced, non-asset-based provider of mission-critical logistics services to the live event, entertainment, sports, and broadcast industries.
ADF will be integrated under GCL’s Rock-it Global brand.
Together with Rock-it Global’s extensive presence in Latin America, the ADF acquisition solidifies Rock-it Global’s in-house capabilities to serve customers throughout the Spanish-speaking world.
“Establishing a company-owned presence in Spain not only strengthens our geographic footprint in continental Europe, but also gives us direct access to customers in key end markets within the region,” said Paul J. Martins, Chief Executive Officer and President, GCL.
“We are always looking for strategic opportunities to grow the business, enhance our value proposition to customers, and expand service offerings across the world. The acquisition of ADF builds on our strategy of enhancing capabilities to target customers in high growth industries such as live events, music touring, sports, broadcast, and film and television production.”
ADF will continue to be led by Founder and Managing Director Carlos Arauz Sanchez.
Rock-it Global is a provider of high-touch, mission-critical air, ocean, and surface freight forwarding and logistics services for the live entertainment and music touring, sports, broadcasting, corporate events, and tradeshow end markets.
“For more than 30 years, ADF has focused on providing a customized service to very demanding clients,” said Mr. Arauz.
“Joining the GCL family of companies and spearheading Rock-it Global’s efforts in Spain is an exciting step for our team since we are culturally aligned and have the same passion for providing outstanding service. We believe this partnership will further allow us to leverage a global network and shared resources for our existing customers, whilst continuing to deliver critical solutions in Spain and the region.”
Founded in 1987, ADF includes an experienced team of authorized in-house Customs experts and specializes in critical, zero-tolerance for failure projects serving customers around the globe.
ABOUT GLOBAL CRITICAL LOGISTICS (GCL)
Headquartered in Los Angeles CA, Global Critical Logistics (GCL) is the holding company for Rock-it Global, a provider of high-touch, mission-critical air, ocean and surface freight forwarding and logistics services for the live entertainment and music touring, sports, broadcasting, corporate events and tradeshow end markets.
Focused on critical, white glove logistics services, the GCL family of leading brands include Dietl, Cosdel, CargoLive and Dynamic International, who work with customers in fine arts, classic and high-end automobiles, film and television production, and industrial projects.
GCL has offices in North, Central and South America, Europe, the Middle East, and Asia Pacific, augmented by a network of long-term partner agents specializing in critical logistics.
The companies of GCL have served thousands of customers annually for over 40 years with bespoke, specialized logistics solutions for the most demanding transportation requirements across every continent.
GCL is backed by ATL Partners, a premier sector-focused private equity firm based in New York.
For more information, please visit www.gcl.global.
Emma Murray
Meantime Communications
Office: +44 (0)20 8853 5554
This email address is being protected from spambots. You need JavaScript enabled to view it.
SHANGHAI--(BUSINESS WIRE)--Hannover Messe in Germany, the global industrial technology "wind vane", was held from May 30 to June 2. CHINT, the world's leading provider of smart energy solutions, presented 10 products and solutions, which covered new energy, green and environmentally friendly smart transformers, and smart buildings, at the Energy Solutions Pavilion (H11.C30).
Centered around new energy and the entire industry chain, CHINT shared its practices and exploration in the fields of "green energy", "smart grid”, "load reduction" and “new energy storage”. “CHINT is about green development and the forefront of carbon emission reduction in the electricity and energy sector. After all these years, CHINT has accumulated and established a great number of top clients and a rich set of user scenarios to rapidly perceive and capture changes and new demands in markets and clients,” said Lily Zhang, CEO of CHINT Electrics.
In 2021, CHINT and BYD's energy storage project orders were successfully delivered, and these two partners joined together to serve the new energy market in the UK. During that year, CHINT's Saudi Arabia smart meter project delivered more than 500,000 smart circuit breakers to local areas. CHINT Cambodia developed off-grid photovoltaic systems in local areas, providing electricity to local areas using thousands of off-grid photovoltaic installations.
CHINT’s solutions are aimed at energy transformation to help bring about global climate objectives. At the exhibition, CHINT’s exhibit featured 8 events delivered in online/offline mode, sharing CHINT's new products and solutions. CHINT shared photovoltaic solutions by having their European team put on a show for the audience so they could experience CHINT’s new energy solutions and photovoltaic applications across large-scale ground, industrial, commercial and residential fields. This showcased the attraction of the innovative "photovoltaic +" model. CHINT also shared its CHINT Smart City energy-saving, low-carbon, interconnected and efficient solutions to the audience. Meanwhile, CHINT’s smart terminal molded case circuit breakers, Arc Fault Detection Devices (AFDD), and a number of new products took center stage, showcasing the company’s strengths in smart manufacturing.
Lily Zhang believes that “through a trade exhibition platform as important as Hannover, clients from more than 140 different nations and regions around the world have joined with CHINT to engage in discussions and exchanges. The cooperation formed between CHINT and international partners is full of endless potential and will leverage the CHINT’s global solution to boost green energy development.”
ABOUT CHINT GLOBAL
CHINT Global is committed to serving as the world's leading provider of intelligent energy solutions for the whole industrial chain. After more than 2 decades of global expansion, our business and marketing network covers over 140 countries and regions worldwide, with a wide range of industries in low voltage electric, smart electrics, energy instruments and meters, green energy, etc.
As the localization progresses steadily, through business integration and industrial upgrade, CHINT Global will further open up the supply chain, optimize the service system, and establish an ecological mechanism, in order to provide innovative integrated technological service for the global energy market.
PR:
Cora Geng
This email address is being protected from spambots. You need JavaScript enabled to view it.
STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (NYSE: AMPS) (“Altus Power” or the “Company”), a leading clean electrification company, today announced that on May 31, 2022 it signed separate, privately negotiated warrant exchange agreements with multiple holders of its public warrants to purchase shares of its Class A common stock (the “Public Warrants”), which are traded on the New York Stock Exchange under the symbol “AMPS WS.”
Pursuant to the exchange agreements, the Company will issue an aggregate of 981,113 shares of its Class A common stock in exchange for the surrender and cancellation of an aggregate of 4,087,962 Public Warrants, which were previously issued by the Company as part of its initial public offering in December 2020. The exchanges will reduce the total number of outstanding Public Warrants by 40.6%, to 5,974,528 from 10,062,490.
“These exchanges are a tremendous opportunity for Altus Power to manage dilution for our shareholders,” said Gregg Felton, Co-Chief Executive Officer of Altus Power. “We will monitor for further opportunities to improve our capital structure and deliver value to our shareholders.”
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities described herein. The Public Warrants will expire on December 9, 2026 or on such earlier date as set forth in the terms of the Public Warrants in the warrant agreement governing the Public Warrants.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the nation’s premier clean electrification company. Altus Power serves its commercial, industrial, public sector and community solar customers by developing, owning and operating locally sited solar generation, energy storage, and EV charging infrastructure across 18 states from Vermont to Hawaii. Visit www.altuspower.com to learn more.
Altus Power
For Media:
Cory Ziskind
ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
For Investors:
Chris Shelton, Head of IR
Caldwell Bailey, ICR, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE”) announced today that it has, along with its joint venture partner Ebrasil Energia Ltda. and its shareholders (“Ebrasil”), entered into a definitive Share Purchase Agreement (“SPA”) with Brazilian power company Eneva S.A. (“Eneva”) (B3: ENEV3), whereby Eneva will acquire 100% of the equity interests of the Porto de Sergipe Power Plant for R$6.1 billion in cash (approximately $1.29 billion USD). Located in Barra dos Coqueiros in the country’s Northeast region, the 1,593 MW Sergipe Power Plant plays a critical role in Brazil’s energy security, providing low-cost, dispatchable power to balance the significant seasonal hydroelectric power that comprises a majority of the region’s electric capacity.
As part of the transaction, Eneva has agreed to acquire, directly and indirectly, 100% of the shares of Centrais Elétricas de Sergipe Participações S.A. (“CELSEPAR”), which owns 100% of the equity interests of the Sergipe Power Plant, and Centrais Elétricas Barra dos Coqueiros S.A. (“CEBARRA”), which owns 1.7 GW of expansion rights adjacent to the Sergipe Power Plant, for a total implied enterprise value of approximately R$10.2 billion (approximately $2.16 billion USD) (the “Enterprise Value”). Pursuant to the terms of the transaction, Eneva will be assuming the current debt of Centrais Elétricas de Sergipe (“CELSE”), the 100% owned subsidiary of CELSEPAR.
“We look forward to maintaining a long-term relationship with Eneva and the CELSE Power Plant,” said Wes Edens, Chairman and CEO of New Fortress Energy. “Eneva is one of Brazil’s leading power companies and a highly capable long-term owner and operator of this critical power asset for northeast Brazil. NFE will continue to operate the Golar Nanook, a Floating Storage and Regasification Unit that remains chartered to CELSE for the next 20 years.”
“CELSE will play a critical role for Eneva’s strategy going forward. With multiple options embedded and a significant Thermal Power Plant pipeline to be developed it will allow Eneva to focus on what it does best – developing new business opportunities in Brazil having the access to gas as a cornerstone,” said Pedro Zinner, CEO of Eneva. “This can be the beginning of a very fruitful and long-lasting relationship between two companies which have complementary roles in the gas value chain.”
Subject to satisfying certain covenants and closing conditions, including approval by Eneva’s shareholders, the Brazilian antitrust agency and the receipt of necessary consents, the transaction is expected to close in the second half of 2022. Accounting for NFE’s 50% ownership of CELSEPAR, the transaction is projected to generate proceeds to NFE of approximately $550 million USD following the paydown of certain debt and other liabilities and net of transaction expenses.
About New Fortress Energy
New Fortress Energy Inc. (NASDAQ: NFE) is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure, ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations seek to support global energy security, enable economic growth, enhance environmental stewardship, and transform local industries and communities around the world.
Cautionary Language Regarding Forward-Looking Statements
This communication contains certain statements and information that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this communication other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. You can identify these forward-looking statements by the use of forward-looking words such as “expects,” “may,” “will,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” or the negative version of those words or other comparable words. Forward looking statements include: the successful sale and purchase of the companies in accordance with the terms of the transaction; the projected proceeds of the transaction, including with respect to any foreign exchange risk between the Brazilian Real and the Dollar; the expected structure for closing of the transaction; the role of the Sergipe Power Plant in Brazil’s energy security and ability to dispatch; the continued operations of the Sergipe Power Plant; NFE’s expected partnerships with third parties, including with respect to the Golar Nanook and continued operation of the Golar Nanook; satisfaction of the closing conditions in the SPA in accordance with the terms thereof and within the required dates, including approval by the shareholders of Eneva, the Brazilian antitrust agency or any other regulatory agency, as well as the receipt of necessary consents from any third parties; the expected date of closing of transaction; compliance by the parties of the covenants and obligations under the SPA; and the ability to mitigate foreign exchange risk for the transaction through hedge arrangements. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on the results of operations and financial condition of the parties to the SPA or the stock prices of such parties.
These forward-looking statements represent the Company’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are necessarily estimates based upon current information and are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the risk that the proposed transactions may not be completed in a timely manner or at all; common risks related to the sale and purchase of businesses or assets, including the risk of valuation and successful implementation, and the risks that we may not be able to realize the benefits of any such transactions, among others; fluctuations in exchange rates used to translate the Brazilian Real into U.S. dollars that could result in potential losses and reductions in our proceeds from the transaction resulting from currency fluctuations; possibility that any or all of the various conditions to the consummation of the transaction may not be satisfied or waived (or any conditions, limitations or restrictions placed on such approvals); the receipt, on a timely basis or otherwise, of the required approvals and consents for the transaction by the shareholders of the parties, the required regulators or governmental agencies, third parties or other persons; breach or failure by the parties to comply with the covenants and obligations under the SPA; the continued operations of the Golar Nanook and relationship with the new shareholder of the Sergipe Power Plant; the possibility that long-term financing for the proposed transactions may not be available on favorable terms, or at all; nonpayment or nonperformance by any of parties to the SPA; the effect of the announcement or pendency of the transactions on our operations, including the ability of NFE to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom NFE does business; the outcome of any legal proceedings related to the SPA; the ability of NFE to implement its plans, forecasts and other expectations with respect to NFE’s business after the completion of the proposed transactions; business disruption following the SPA; and the impact of public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics and any related company or government policies and actions to protect the health and safety of individuals or government policies or actions to maintain the functioning of national or global economies and markets. These factors are not necessarily all of the important factors that could cause actual results to differ materially from those expressed in any of NFE’s forward-looking statements. Other known or unpredictable factors could also have material adverse effects on future results.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in our annual report, quarterly and other reports filed with the SEC, which could cause its actual results to differ materially from those contained in any forward-looking statement. We undertake no duty to update these forward-looking statements, even though our situation may change in the future.
Investors:
Brett Magill
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media:
Jake Suski
(516) 268-7403
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Tellurian Inc. (Tellurian) (NYSE American: TELL) announced today that it has executed definitive agreements to sell $500 million principal amount of senior secured convertible notes, subject to customary closing conditions. The notes will bear interest at 6.0% per annum, expiring May 1, 2025, and will be convertible into shares of Tellurian common stock at an initial conversion price of $5.724, subject to customary adjustments.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any offer or sale of, the notes in any state or jurisdiction in which the offer, solicitation, or sale of the notes would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction.
Roth Capital Partners and Citigroup served as placement agents for the offering.
The offering was made only by means of a prospectus supplement and the accompanying prospectus. Copies of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained by contacting Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, California 92660, by calling (800) 678-9147 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it., or from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling (800) 831-9146 or via email at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Tellurian Inc.
Tellurian is developing a portfolio of natural gas production, LNG marketing and trading, and infrastructure that includes an ~ 27.6 mtpa LNG export facility and an associated pipeline. Tellurian is based in Houston, Texas, and its common stock is listed on the NYSE American under the symbol “TELL”.
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Forward-looking statements herein relate to, among other things, the offering described herein. These statements involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. These risks include risks relating to a potential inability to complete the offering and the matters discussed in Item 1A of Part I of the Annual Report on Form 10-K of Tellurian for the fiscal year ended December 31, 2021 filed by Tellurian with the Securities and Exchange Commission (the SEC) on February 23, 2022, and other Tellurian filings with the SEC, all of which are incorporated by reference herein. The forward-looking statements in this press release speak as of the date of this release. Although Tellurian may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
Media:
Joi Lecznar
EVP Public and Government Affairs
Phone +1.832.962.4044
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investors:
Matt Phillips
Vice President, Investor Relations
Phone +1.832.320.9331
This email address is being protected from spambots. You need JavaScript enabled to view it.
New Plant Making Renewable Natural Gas (RNG) from Food Waste Diverted from Landfills
BURLINGTON, Ontario & LECCE, Italy--(BUSINESS WIRE)--Anaergia Inc. (“Anaergia” or the “Company”) (TSX: ANRG) announced it has officially commissioned a new biomethane facility in Italy, the Calimera Bio plant in the Province of Lecce. The facility is the second of seven facilities Anaergia is building which together will form one of the largest food waste to biomethane platforms in Europe.
The Calimera Bio facility has the capacity to anaerobically digest 24,000 metric tons of landfill-diverted food scraps and other organic waste each year, and to convert this waste into 2,190,000 cubic meters of renewable natural gas (“RNG” or “biomethane”) that will be injected into the region’s natural gas pipelines. The new plant will also treat the digestate that remains after the anaerobic digestion process to create 9,000 tons per year of high-quality natural fertilizer. Anaergia was the technology provider for the project, and owns 60% of the facility. Anaergia’s partner in this plant is a regional waste management company.
“With six biomethane plants opening in Italy, Anaergia is well-positioned to help meet the growing demand in Europe for biomethane, the European term for Renewable Natural Gas,” said Andrew Benedek, Chairman and CEO of Anaergia. “We are proud of these facilities because they will help Europe meet its ambitious climate change goals as well as its energy security objectives. Given these drivers, we hope to build many more such plants.”
The commissioning of the new Calimera plant comes on the heels of the European Commission’s pledge of €37 billion to increase biomethane production in the EU, as part of its €300 billion RePowerEU plan to stop Russian energy imports and move to green energy by the end of the decade. The Commission is proposing an action plan to achieve 35 billion cubic meters of annual biomethane production by 2030.
In addition, last week the G7 Ministers of Climate, Energy and the Environment highlighted the importance of cutting methane emissions, citing “opportunities to mitigate methane emissions from the waste sector, primarily by diversion of organic waste from landfills…and waste-to-fuel technologies to produce renewable methane from organic waste, agricultural residues and biomass…”
With offices in five European countries, Anaergia is in an excellent position to support these goals.
“Over the last two decades, Anaergia has built many facilities using our proprietary technologies that turn any type of organic waste into renewable energy” said Alessandro Massone, Anaergia’s Commercial Managing Director for Europe. “Based on our proven, world-leading capabilities, Anaergia is in a class by itself and ready to take advantage of the opportunities we are now seeing throughout Europe.”
About Anaergia
Anaergia was created to eliminate a major source of greenhouse gases by cost effectively turning organic waste into renewable natural gas (“RNG”), fertilizer and water, using proprietary technologies. With a proven track record from delivering world-leading projects on four continents, Anaergia is uniquely positioned to provide end-to-end solutions for extracting organics from waste, implementing high efficiency anaerobic digestion, upgrading biogas, producing fertilizer and cleaning water. Our customers are in the municipal solid waste, municipal wastewater, agriculture, and food processing industries. In each of these markets Anaergia has built many successful plants including some of the largest in the world. Anaergia owns and operates some of the plants it builds, and it also operates plants that are owned by its customers.
For further information please see: www.anaergia.com
Source: Anaergia Inc.
For media relations please contact: Melissa Bailey, Director, Marketing & Corporate Communications, This email address is being protected from spambots. You need JavaScript enabled to view it.
For investor relations please contact: This email address is being protected from spambots. You need JavaScript enabled to view it.
SDI to present Edge Computing use case in automated material handling for smart manufacturing and supply chain
MAYNARD, Mass.--(BUSINESS WIRE)--Stratus Technologies, a global leader in simplified, protected, and autonomous Edge Computing platforms, today announced that it will present, exhibit, and demonstrate its Edge Computing platforms, including the 2nd Generation ztC Edge platform and pre-validated control architectures developed with Rockwell Automation and Schneider Electric at the 26th annual ARC Industry Forum, Accelerating Industrial Digital Transformation and Sustainability, taking place June 6-9 in Orlando, FL. Additionally, Jason Andersen, Vice President of Business Line Management at Stratus will participate in IT/OT Convergence: A Foundation for Digital Transformation, and join Stratus customer Mike Higley, system architect at SDI for Best Practices in Smart Manufacturing discussing Edge Computing use cases for automated material handling.
“Edge Computing provides the foundation to accelerate digital transformation by bringing compute power to the shop floor, control room, or stranded asset,” said Stephen Greene, Vice President of Global Business Development and Marketing at Stratus. “Our customers are then able to run their critical applications close to equipment and processes without worrying about data loss or platform failure. As a result, they can focus on innovation and new outcomes rather than managing IT infrastructure. SDI is a great example of simple, protected, and autonomous Edge Computing in action that has resulted in expanded capabilities and new offerings.”
Mike Higley, system architect at SDI said, “SDI supports some of the largest retailers in the world who turn to us for our expertise in unit sortation and warehouse automation. Stratus ftServer is the heart and brain of our design architectures for running our WMS software and business rules. Downtime at a distribution center can cost a retailer as much as a million dollars a day, and the Stratus platform has not let us down. Therefore, we measure Stratus not just by the value of risk avoidance but by the relationships and credibility that’s enabled our business to grow consistently and achieve new levels.”
Stratus Demonstrates Turnkey Edge Computing Architectures
At booth #1, Stratus will be showcasing their 2nd Generation ztC Edge Platform, which is the industry’s first Edge Computing platform to combine built-in application virtualization and fault tolerance in an easy-to-install, ruggedized design for the industrial edge. They will also be showing Stratus ECX, an immersive environment that highlights use cases and applications where customers utilize Stratus’ simple, protected and autonomous Edge Computing Platforms.
To demonstrate how pre-validated and tested architectures can save engineering time, enable rapid deployment, and simplify OT and IT management, Stratus will also be highlighting:
Customer Success: Edge Computing’s Role in Smart Manufacturing
Andersen and Higley will be part of a panel, Best Practices in Smart Manufacturing, taking place on Wednesday, June 8 from 2-3:30pm ET. The panel will focus on the technologies, tools and solutions available to help manufacturers not only begin their digital transformation journey, but successfully deploy and scale a smart manufacturing approach, empowering manufacturers to adopt the latest technologies and manage technical and cultural challenges. Leveraging Stratus ftServer, SDI develops warehouse distribution solutions that are protected from data loss and enhance their industry- leading unit sortation systems deployed for the largest consumer brands in the country.
Andersen will also serve on the panel, IT/OT Convergence: A Foundation for Digital Transformation session, taking place Wednesday, June 8 from 4-5:30pm ET. This session will explore how companies have effectively integrated IT and OT systems, highlighting the technical and cultural hurdles they overcame, and the benefits realized versus the expectations.
To learn more about Stratus’ Edge Computing platforms, visit www.stratus.com, and for more information about the event, including a virtual forum on June 20-23, visit this link.
Additional resources:
About Stratus Technologies
For leaders digitally transforming their operations to drive predictable, peak performance with minimal risk, Stratus ensures the continuous availability of business-critical applications by delivering zero-touch Edge Computing platforms that are simple to deploy and maintain, protected from interruptions and threats, and autonomous. For 40 years, we have provided reliable and redundant zero-touch computing, enabling global Fortune 500 companies and small-to-medium sized businesses to securely and remotely turn data into actionable intelligence at the Edge, cloud and data center – driving uptime and efficiency. For more information, please visit www.stratus.com or follow on Twitter @StratusAlwaysOn and LinkedIn @StratusTechnologies
Stratus Technologies
Kristin Albano
This email address is being protected from spambots. You need JavaScript enabled to view it.
978-461-7019
Victoria Newell
V2 Communications for Stratus
This email address is being protected from spambots. You need JavaScript enabled to view it.
MANSFIELD, Ohio--(BUSINESS WIRE)--The Gorman-Rupp Company (NYSE: GRC) (the “Company”), a leading designer, manufacturer, and international marketer of pumps and pump systems, announced today that it has completed its previously announced acquisition of Fill-Rite and Sotera (“Fill-Rite”), a division of the Tuthill Corporation, for $525 million. When adjusted for approximately $80 million in expected tax benefits, the net transaction value is approximately $445 million. Gorman-Rupp funded the transaction with cash-on-hand and new debt. The new debt includes a $350 million term loan and an unsecured subordinated term loan of $90 million. In addition, the Company also entered into a $100 million revolving credit facility.
With facilities in Fort Wayne, Indiana and Lenexa, Kansas, the Fill-Rite and Sotera brands carry strong legacies associated with superior products and hold leadership positions in attractive niche pump markets. Fill-Rite provides rugged, high-performance liquid transfer pumps as well as a comprehensive line of mechanical and digital meters, precision weights and measures certified meters, hand pumps, hoses, nozzles, and accessories.
Scott King, President and Chief Executive Officer of Gorman-Rupp said “We are excited to welcome Fill-Rite and its outstanding team of employees to the Gorman-Rupp family. The closing of this transaction is the first step to realizing the great benefits of bringing together two pioneering flow control businesses with over 150 years of combined industry experience. I want to thank the teams at Gorman-Rupp, Fill-Rite, and Tuthill, for their incredible efforts to get us to closing today and helping to ensure a smooth, effective transition as we integrate Fill-Rite with Gorman-Rupp.”
About The Gorman-Rupp Company
Founded in 1933, The Gorman-Rupp Company is a leading designer, manufacturer and international marketer of pumps and pump systems for use in diverse water, wastewater, construction, dewatering, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid-handling applications.
Forward-Looking Statements
In connection with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, The Gorman-Rupp Company provides the following cautionary statement: This news release contains various forward-looking statements based on assumptions concerning The Gorman-Rupp Company’s operations, future results and prospects. These forward-looking statements are based on current expectations about important economic, political, and technological factors, among others, and are subject to risks and uncertainties, which could cause the actual results or events to differ materially from those set forth in or implied by the forward-looking statements and related assumptions. These include statements regarding estimates of future earnings and cash flows. Other uncertainties include, but are not limited to, general economic conditions, supply chain conditions and any related impact on costs and availability of materials, integration of the acquired business in a timely and cost effective manner, retention of supplier and customer relationships and key employees, and the ability to achieve synergies and cost savings in the amounts and within the time frames currently anticipated. Other risks and uncertainties that may materially affect Gorman-Rupp are described from time to time in its reports filed with the Securities and Exchange Commission, including Forms 10-K, 10-Q, and 8-K. Except to the extent required by law, Gorman-Rupp does not undertake and specifically declines any obligation to review or update any forward-looking statements or to publicly announce the results of any revisions to any of such statements to reflect future events or developments or otherwise.
Brigette A. Burnell
Corporate Secretary
The Gorman-Rupp Company
Telephone (419) 755-1246
NYSE: GRC
For additional information, contact James C. Kerr, Chief Financial Officer, Telephone (419) 755-1548
FourKites scores highest in 3 out of 5 Use Cases in the Companion 2022 Gartner® Critical Capabilities for Real-Time Transportation Visibility Platforms report
AMSTERDAM--(BUSINESS WIRE)--FourKites®, the world’s leading real-time supply chain visibility platform, today announces that, for the second consecutive year, the company has been named a Leader in the 2022 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms* (RTTVPs). Out of 11 vendors evaluated in this report, FourKites is the only company positioned in the Leaders quadrant with the furthest Completeness of Vision.
In addition, FourKites scored the highest for Fortune 500 businesses with complex needs. According to the 2022 Gartner® Critical Capabilities for Real-Time Transportation Visibility Platforms, which “provides deeper insight into providers’ product and service offerings by extending the Magic Quadrant analysis”, FourKites ranked #1 in three of the five most advanced Use Cases.**
FourKites, the largest global visibility solution, tracks 2.5 million shipments per day across all modes and connects the global supply chains of 50% of the Fortune 500, including customers such as Cardinal Health, Bayer, Henkel, Dow, AB InBev, Cargill, Henkel, Coca-Cola, Constellation Brands, 3M, RHI Magnesita and Eastman. Over the last 12 months, FourKites has achieved over 40% YoY growth in global customers, nearly 80% growth in total shipments and 78% growth in connected facilities, the latter of which now total over 2.3 million individual facilities around the world.
“The new Gartner reports are clear: Real-time visibility is a must-have technology for any supply chain,” says Mathew Elenjickal, founder and CEO of FourKites. “FourKites is unwaveringly focused on developing solutions that specifically target our customers’ biggest pain points and add real business value. We’re proud to be recognised by Gartner as the industry’s visionary and the solution of choice for large enterprises with complex needs.”
What Customers Are Saying on Gartner® Peer Insights™
FourKites’ unique customer-driven innovation model continues to yield breakthrough capabilities at a rapid clip, underpinning the company’s top-rated ability to serve the world’s largest enterprises.
“FourKites’ platform is complete and mature from an ocean, rail and truck tracking perspective but they offer so much more when you start to look at their Yard Management and Appointment Scheduling tools. Their onboarding and customer success teams are professional and helpful. They are our partners in this ongoing journey.” — Supply Chain Professional, Retail
“[The things we like most about FourKites are:] 1. Ease of use and reporting functions that users can tailor to their needs. 2. Visibility platform that allows supply chain personnel to make decisions quickly to service our customers. 3. Product has been so successful here in the US that we are looking to expand to our international affiliates and offices.” — Director, Transportation & Logistics
“The Platform is exceptional in the volume of detailed information provided. The FourKites team was very detailed in their explanation of the system and the training they provided. The level of support from FourKites is outstanding. The continued assistance/follow-up from them has been out of the ordinary. The system continues to offer additional data to improve Ventura's service to the customer.” — Carrier Capacity & Development Manager, Manufacturing
“Our implementation of FourKites was completed in less time than anticipated. Overall, the project was handled very well by the various teams and the FourKites team was probably the best implementation team I have worked with in a project of this scope and size.” — Supply Chain Professional
“FourKites has been a great company to partner with. They have a strong customer service focus and tend to take product feedback through development to production surprisingly quickly. Their core tracking platform, while sophisticated, is remarkably intuitive and they seem to have an eye for end user experience in everything they produce.” — Transportation Sr. Manager, Manufacturing
FourKites Continues to Drive Unmatched Innovation
Amid another year of constant supply chain disruption, FourKites doubled-down on its customer-driven innovation model, as it welcomed nearly 80 customers to its new Innovation Partner Program. In 2021 alone, FourKites delivered more than 185 new products and features, nearly 40% of which were driven by Innovation Partners. Some of the company’s more recent innovations include:
In addition, last year FourKites was the sole supply chain company named an AI Trailblazer by Everest Group; was one of only four Transportation and Logistics companies to receive Inc.'s Best in Business Award; was one of The Software Report’s Top 100 Software Companies of 2021; and was named a Top Green Provider by Food Logistics.
* Gartner, Magic Quadrant for Real-Time Transportation Visibility Platforms, Carly West, 25 May 2022.
** Gartner, Critical Capabilities for Real-Time Transportation Visibility Platforms, Carly West, 24 May 2022.
Gartner Disclaimer:
Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner, Magic Quadrant and Peer Insights™ are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.
About FourKites
FourKites® is the #1 global supply chain visibility platform, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2.5 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching more than 200 countries, FourKites combines real-time data and powerful machine learning to help companies digitise their end-to-end supply chains. More than 1,000 of the world’s most recognised brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.
Media Contacts
Scott Johnston
European PR Director, FourKites
+31 62 147 8442
This email address is being protected from spambots. You need JavaScript enabled to view it.
In celebration of Global Running Day, Garmin’s new GPS running and triathlon smartwatch introduces solar charging, a touchscreen interface and premium training features to the Forerunner line
OLATHE, Kan.--(BUSINESS WIRE)--Garmin® International, Inc., a unit of Garmin Ltd. (NYSE: GRMN), today announced the Forerunner® 955 Solar, its first dedicated running smartwatch with solar charging. Featuring a Power Glass™ solar charging lens, the Forerunner 955 Solar gives athletes up to 20 days of battery life in smartwatch mode1 and up to 49 hours in GPS mode2. Built for the long run, the Forerunner 955 Solar features an always-on, full-color display that is easy to read – even in direct sunlight – while a responsive touchscreen complements the traditional 5-button design, allowing for fast access to everyday health features, easier control of maps and more. Designed with the runner in mind, the Forerunner 955 Solar adds innovative new features like heart rate variability (HRV) status, a training readiness score and race widget to help athletes better prepare for their next big race. Garmin unveiled the Forerunner 955 Solar in conjunction with Global Running Day, an annual celebration of the sport of running that encourages athletes of all levels to make a life-changing commitment to running.
“Athletes who strive to be the best seek the best training tools, and we are pleased to introduce the Forerunner 955 Solar to our lineup of premier GPS running smartwatches,” said Dan Bartel, Garmin vice president of global consumer sales. “With high-end training features and performance metrics, the Forerunner 955 Solar gives you the tools to chase your goals. No matter where, when or why you run, the Forerunner 955 Solar will help you go the extra mile.”
Here's what’s new
Made for medals
To help athletes chase their next PR, the Forerunner 955 Solar includes key performance and training tools from Firstbeat Analytics™ like VO2 max, training load, performance condition, training effect and more. What’s more, new indicators such as HRV status, recent exercise history and performance will provide athletes with greater insight into their overall training status – and whether they’re training productively, peaking or strained. Daily workout suggestions will provide athletes with an entire week of day-to-day training guidance based on their fitness levels and overall wellness and will even adapt based on race plans that are set up using the new race widget. When using a Running Dynamics Pod or HRM-Pro monitor (each sold separately), athletes can track running dynamics such as cadence, stride length, ground contact time and more. What’s more, athletes can track their cycling dynamics, such as seated/standing position, power phase and platform center offset when using a compatible Garmin power meter (sold separately). In the water, the Forerunner 955 Solar will track a swimmer’s distance, stroke, pace, personal records and more.
Runners and triathletes can take their training to the next level by syncing indoor and outdoor workouts automatically from Garmin Connect™, the Tacx training app and other third-party platforms. Furthermore, the Forerunner 955 Solar is compatible with Garmin Coach – free 5K, 10K and half-marathon training plans that adapt based on a runner’s goals and performance.
Go the distance
Whether running on city streets or cycling through densely covered trails, the Forerunner 955 Solar provides athletes with full-color, built-in maps to stay on track and go the distance.
All-day wear
Designed to be worn all day, the Forerunner 955 Solar includes advanced health and wellness features. Wrist-based Pulse Ox4 monitors blood oxygen saturation levels providing a clearer picture of sleep and altitude acclimation while Body Battery™ energy monitoring shows current energy levels which can help athletes find the best times for activity and rest. What’s more, women’s health features, including menstrual cycle tracking and pregnancy tracking, let women log symptoms and receive exercise and nutrition education.
The Forerunner 955 Solar keeps the essentials on the wrist with built-in music (download up to 2,000 songs from playlists on Spotify®, Amazon Music and Deezer (premium subscription may be required)), Garmin Pay™ contactless payments5, and smart notifications for calls, text messages, social media updates and alerts from an athlete’s Apple® or Android™ smartphone. Safety and tracking features provide peace of mind while training outside by sending an athlete’s live location to chosen emergency contacts – or automatically sending a message if an incident is detected.6 While riding inside, athletes can also control a Tacx® Smart trainer via ANT+® technology right from the watch for course simulation, automatic resistance changes and workout prompts when using courses or workouts. What’s more, the Forerunner 955 Solar can be personalized with custom watch faces, data fields, and apps and widgets from the Connect IQ™ Store.
Available now, the Forerunner 955 Solar has a suggested retail price of $599.99. A non-solar charging version, the Forerunner 955, is also available with a suggested retail price of $499.99.
Engineered on the inside for life on the outside, Garmin products have revolutionized life for runners, cyclists, swimmers and athletes of all levels and abilities. Committed to developing technology that helps people stay active and elevate performance, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. Other Garmin fitness brands include Tacx and Firstbeat Analytics. For more information, visit Garmin's virtual Newsroom, This email address is being protected from spambots. You need JavaScript enabled to view it., connect with @garminrunning on social media, or follow our adventures at garmin.com/blog.
1 Assumes all-day wear with 3 hours per day outside in 50,000 lux conditions
2 Solar charging, assuming continuous use in 50,000 lux conditions
3 The data and information provided by these devices is intended to be a close estimation of your activity and metrics tracked, but may not be precisely accurate
4 This is not a medical device and is not intended for use in the diagnosis or monitoring of any medical condition; see Garmin.com/ataccuracy. Pulse Ox is not available in all countries.
5 View current supported country, payment network and issuing bank information
6 When paired with a compatible smartphone; see Garmin.com/ble. For safety and tracking features requirements and limitations, see Garmin.com/safety
About Garmin International, Inc.
Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin, Forerunner and Tacx are registered trademarks and Power Glass, Garmin Connect, Trendline, Garmin Pay, PacePro, Body Battery, Connect IQ, Firstbeat Analytics, UltraTrac and HRM-Pro are trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved. Amazon Music and all related logos are trademarks of Amazon.com, Inc. or its affiliates. SPOTIFY and the Spotify logo are among the registered trademarks of Spotify AB. Android is a trademark of Google LLC. Apple is a trademark of Apple Inc., registered in the U.S. and other countries.
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management’s current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 25, 2021, filed by Garmin with the Securities and Exchange Commission (Commission file number 0001-411180). A copy of such Form 10-K is available at http://www.garmin.com/aboutGarmin/invRelations/finReports.html. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Stephanie Schultz
913-397-8200
This email address is being protected from spambots. You need JavaScript enabled to view it.
- Began trading on Nasdaq Capital Market; received $7.5M in second tranche of private placement -
- Signed global framework agreement with Philip Morris -
ROSH HAAYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, today announced financial results as of and for the three months ended March 31, 2022 and operational updates.
Key Highlights
● Began trading on the Nasdaq Capital Market (“Nasdaq”) under ticker symbol “BNRG” on May 25, 2022
● Signed framework agreement with Philip Morris for the supply of the Company’s bGen™ TES; signed agreement for a $9 million system in Romania.
● Selected by the Government Procurement Administration in Israel to supply heat energy using our bGen system under a potential Energy as a Service contract
● $10.4 million of cash and cash equivalents as of May 30, 2022
Management Commentary
“First quarter 2022 was an important and busy time for Brenmiller Energy,” said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. “In February, we signed a framework agreement and our first major commercial agreement with Philip Morris to provide our proprietary bGen thermal energy storage system. Under the $9 million plus agreement, we will provide Philip Morris Romania a system for delivery and commissioning by the end of 2023.”
“This project, in addition to our various projects with other customers, is expected to provide the foundation for Brenmiller to capitalize on the trend of decarbonization and fuel-efficiency in the global industrial and utility sector,” continued Brenmiller. “We have a robust pipeline of opportunities and expect additional commercial orders over the course of 2022, into 2023 and beyond.”
“Additionally, Brenmiller’s ordinary shares began trading on the Nasdaq on May 25, 2022 and will continue to trade in Tel Aviv where we have been listed since 2012,” Brenmiller added. ”The U.S. listing provides us greater exposure to the global financial markets and is expected to assist in providing the liquidity and capital we need to continue to grow the Company as we become a preeminent player in the global TES market.”
Balance Sheet Update
Brenmiller ended the first quarter of 2022 with $4.8 million of cash and equivalents and essentially no debt on the balance sheet. On May 24, 2022, the Company closed the second tranche of the investment by certain private investors pursuant to a securities purchase agreement dated October 29, 2021. As a result, the balance of $7.5 million of the $15 million private placement has been paid to the Company by such investors against the issuance of the Company’s securities. As of May 30, 2022, the Company had $10.4 million of cash and cash equivalents on its balance sheet.
Research and Development
Research, development, and engineering expenses were $1.32 million in first quarter 2022, compared to $0.86 million in first quarter 2021. The increase was primarily attributable to investments made to support its first utility scale pilot project with Enel in Italy and to support the acceleration of investment in its production capabilities.
Research, development, and engineering expenses, net breakdown:
| Three months ended March 31 | ||
2022 |
2021 |
|
| USD in thousands | ||
| Total research, development, and engineering expenses | 1,508 |
1,293 |
| Less — grants | (187) |
(432) |
1,321 |
861 |
|
New Project Awards
In February 2022, Brenmiller signed a five-year framework agreement with Philip Morris International (“PMI”) for the supply of its TES systems. The framework agreement sets terms, with adjustments based on the size, for Brenmiller to provide its TES system, bGen, at forty-one of PMI’s sites globally. Following the signing of the framework agreement with PMI, on February 28, 2022, Brenmiller signed an agreement with PMI for the purchase of a 31.5 MWh bGen unit in Romania for $9 million, with an option to expand the capacity to 52.5 MWh. The Company is currently in early design stages and plans to begin construction in early-2023 with completion in late-2023.
On May 25, 2022, the Government Procurement Administration of Israel issued a notice regarding its intent to engage with Brenmiller as a sole supplier for the purchase of heat energy at Wolfson Hospital in Israel. Under the proposed engagement, Brenmiller will install its TES system, bGen, integrate it with the hospital’s local energy system and maintain the installed system. Brenmiller plans to enter into an approximately $5 million, seven and one-half year contract with Wolfson Hospital under which it will supply heat energy at prices to be agreed between the parties. This is Brenmiller’s first potential project using a Energy As a Service business model. Under this business model, profit margins are expected to be higher than those in a traditional capital equipment sale and be more recurring in nature.
Dimona Israel Production Facility
In March, 2021, Brenmiller signed a EUR 7.5 million credit facility with the European Investment Bank to build a new state of the art production facility in Dimona, Israel. The Company predicts that the first tranche of up to EUR 4 million will be drawn down in June 2022. The production facility is currently under construction and will have a capacity to produce 1000 MWh per year of bGen thermal storage modules. The plant is planned to reach full capacity by the end of second quarter 2023, and will support current and potential future projects in the European and Middle Eastern regions.
Operational Update
Brenmiller is currently in the process of installing pilot projects in various geographic regions in an effort to demonstrate the use of its technologies for both industrial and utility scale applications, which are ultimately expected to support the commercialization of the technology. Its pilot projects are progressing as planned and are expected to reach major milestones over the next twelve months. Key updates to its pilot projects include:
● SUNY Purchase: The company is installing a 0.5 MWh thermal storage based co-generation station with the New York Power Authority (NYPA) at SUNY Purchase College in New York. The system includes hybrid charging with both exhaust gas and electricity. The project is currently in the commissioning phase with final delivery expected in the second quarter of 2022.
● Fortlev: Brenmiller is designing, manufacturing, and installing a 2 MWh TES with Fortlev in Brazil. The system will be charged with biomass. Brenmiller has completed the construction of the TES components, tested them, and shipped them to the project site. The project is currently in the commissioning phase with final delivery expected in the second quarter of 2022.
● Enel: Brenmiller is designing, manufacturing, and installing a 23 MWh TES system for a combined cycle power plant for Enel in Italy. This is the company’s first utility scale project. The project has finished the manufacturing stage, all storage modules have been shipped to the project site and installation is scheduled to be completed in July 2022. The next stage is hot commissioning and the project has already passed several milestone tests, including high pressure tests for its piping systems. Brenmiller expects to commission this project in the third quarter of 2022. Following its testing of the system, Enel will have an option to add additional storage capacity at the site.
Commitment to Sustainability
Brenmiller Energy develops and supplies sustainable thermal energy storage solutions. Its vision is to enable the penetration and utilization of renewable energy into various industries, using its proprietary TES technology. Although its business activities have a low environmental impact, the company is committed to creating, preserving, and delivering products which ensure the long-term quality of the environment.
Brenmiller's sustainability policy covers the use of materials, use of equipment, manufacturing processes, engineering output, care during construction at customer sites, and social responsibility.
The Company's sustainability policy and its fundamental principles are embedded through all the Company’s business activities. The policy applies to anyone accessing, participating, or impacting the Company’s business, including employees, consultants, and contractors.
Brenmiller's core business is to reduce its customers' environmental impact by reducing their greenhouse gas (“GHG”) emissions and helping them achieve net-zero CO2 targets. Therefore, Brenmiller is actively improving its operations, manufacturing methods, and products to reduce its own environmental impact.
Brenmiller' is committed to lowering its own GHG emissions. Its storage systems are designed and manufactured for a lifetime of 25 years and produced from sustainable and fully recyclable materials.
Brenmiller's TES system is flexible and can be integrated with both traditional energy sources and renewable energy sources. As a result, it offers a technological solution for decarbonizing the energy sector and can be an important part of the world’s transition to a low-carbon economy.
Greenhouse Gas Emissions
In accordance with global standardized frameworks to measure CO2 - Gas emissions (GHG protocol) Brenmiller examined its scope 1 and scope 2 GHG emissions from 2019 to 2021.Scope 1 describes all direct emissions from the Company's own operations and assets, including the Company's fleet of vehicles. Scope 2 describes indirect emissions from the consumption of power at the Company's facilities.
|
2019 |
2020 |
2021 |
Scope 1 (tons CO2-eq) |
38 |
55 |
67 |
Scope 2 (tons CO2-eq) |
119 |
78 |
127 |
Total (tons CO2-eq) |
157 |
133 |
194 |
Brenmiller expects to refine its scope 3 emissions data collection procedures over time and to include data on scope 3 emissions in the future.
Brenmiller is committed to being a leader in environmental sustainability. In its commitment to the environment, the Company complies and will continue to comply with relevant environmental standards such as ISO-14001 and ISO-45001, for which the Company is already certified.
Brenmiller will publish its first full and detailed Environmental, Social, and Governance (“ESG”) report in the fourth quarter of 2022. This report will reflect the ESG aspects of Brenmiller in a way that represents all its stakeholders. The report will examine the Company's business, strategy, and vision combined with its values and commitments for the coming years. The report will be written in accordance with acceptable methodologies such as Global Reporting Institute (“GRI”) transparency standards, Sustainability Accounting Standards Board (“SASB”) and the Sustainable Development Goals (“SDG”) of the United Nations.
Brenmiller is an active agent in the global effort to achieve the SDG of the United Nations and in realizing SDG's secondary goals that align with its business operations.
About Brenmiller Energy
Brenmiller Energy’s innovative thermal energy storage solutions are accelerating the electrification and decarbonization of the global economy. Founded in 2012 by Avi Brenmiller, former CEO of Siemens CSP and Solel, and a team of other experts in the field of renewable energy, its patented technology heats crushed rocks to very high temperatures, enabling utility and industrial customers to cost-effectively store energy and then convert this energy into steam, hot water, or hot air for a variety of applications. The Company has raised more than $90 million and is traded on the Tel-Aviv Stock Exchange and Nasdaq Capital Market. For more information visit https://bren-energy.com/ and follow us on LinkedIn -https://www.linkedin.com/company/brenmiller-energy/mycompany/
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses its pipeline of projects and expected additional commercial orders, its expected timeline for installing and completing its pilot projects that are underway, the expected drawdown from a financing facility with the European Investment Bank, the impact of the Nasdaq listing on its profile, growth, visibility and liquidity and the expected sustainability/ESG report. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, statements relating to its expectations to commercialize its framework agreement with PMI for the supply of its TES systems, statements relating to the delivery of its bGen thermal energy storage system to Philip Morris Romania by the end of 2023, statements relating to the engagement of the Company with the State of Israel for the provision by the Company of heat energy for Wolfson Hospital in Israel, statements relating to its Energy As A Service business model, statements relating to its expected production capabilities and the dates on which Brenmiller expects to achieve full production capacity at its production facility in Dimona, Israel, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's prospectus dated May 24, 2022 filed with the SEC, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
| Brenmiller Energy Ltd | |||
| CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSTION | |||
| (Unaudited) | |||
| March 31, | December 31, | ||
2022 |
2021 |
||
(Unaudited) |
(Audited) |
||
| Assets | USD in thousands |
||
| CURRENT ASSETS: | |||
| Cash and cash equivalents | 4,832 |
8,280 |
|
| Restricted deposits | 46 |
47 |
|
| Trade receivables | 180 |
162 |
|
| Receivables | 730 |
553 |
|
| Inventory | 93 |
95 |
|
| TOTAL CURRENT ASSETS | 5,881 |
9,137 |
|
| NON-CURRENT ASSETS: | |||
| Restricted deposits | 175 |
179 |
|
| Investment in joint venture | 41 |
- |
|
| Right-of-use assets, net | 1,383 |
3,018 |
|
| Property, plant and equipment: | |||
| Plant and equipment, net | 1,507 |
1,583 |
|
| Rotem 1 project | 665 |
679 |
|
| Total property, plant and equipment | 2,172 |
2,262 |
|
| TOTAL NON-CURRENT ASSETS | 3,771 |
5,459 |
|
| TOTAL ASSETS | 9,652 |
14,596 |
|
| LIABILITIES AND EQUITY | |||
| CURRENT LIABILITIES: | |||
| Short-term bank credit and loans | 1 |
5 |
|
| Trade payables | 171 |
264 |
|
| Prepaid income | 1,103 |
1,095 |
|
| Other payables | 1,526 |
1,623 |
|
| Provisions | 51 |
215 |
|
| Current maturities of lease liabilities | 863 |
954 |
|
| TOTAL CURRENT LIABILITIES | 3,715 |
4,156 |
|
| NON-CURRENT LIABILITIES | |||
| Lease liabilities | 920 |
2,448 |
|
| Liability for share options | 105 |
213 |
|
| Liability for royalties | 2,296 |
2,236 |
|
| TOTAL NON-CURRENT LIABILITIES | 3,321 |
4,897 |
|
| TOTAL LIABILITIES | 7,036 |
9,053 |
|
| EQUITY : | |||
| Share capital | 79 |
79 |
|
| Share premium | 45,648 |
45,648 |
|
| Receipts on account of warrants and capital components of convertible loans | 1,176 |
1,176 |
|
| Capital reserve from transactions with controlling shareholders | 54,061 |
54,061 |
|
| Capital reserve on share based payments | 1,579 |
1,318 |
|
| Foreign currency cumulative translation reserve | (1,186) |
(1,053) |
|
| Accumulated deficit | (98,741) |
(95,686) |
|
| TOTAL EQUITY | 2,616 |
5,543 |
|
| TOTAL LIABILITIES AND EQUITY (NET OF CAPITAL DEFICIENCY) | 9,652 |
14,596 |
|
| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | ||||
| (Unaudited) | ||||
Three months ended March 31, |
||||
2022 |
2021 |
|||
USD in thousands (except per share data) |
||||
| REVENUES | 20 |
- |
||
| COSTS AND EXPENSES: | ||||
| COST OF REVENUES | (500) |
(2,164) |
||
| RESEARCH, DEVELOPMENT AND ENGINEERING EXPENSES, NET | (1,321) |
(861) |
||
| SHARE IN LOSS OF JOINT VENTURE COMPANY | (32) |
- |
||
| MARKETING AND PROJECT PROMOTION EXPENSES, NET | (300) |
(192) |
||
| GENERAL AND ADMINISTRATIVE EXPENSES | (1,152) |
(560) |
||
| OTHER INCOME | 82 |
2 |
||
| OPERATING LOSS | (3,203) |
(3,775) |
||
| FINANCIAL INCOME | 274 |
680 |
||
| FINANCIAL EXPENSES | (126) |
(37) |
||
| FINANCIAL INCOME, NET | 148 |
643 |
||
| LOSS FOR THE PERIOD | (3,055) |
(3,132) |
||
| OTHER COMPREHENSIVE LOSS – ITEM THAT WILL NOT BE RECLASSIFIED TO PROFIT OR LOSS – EXCHANGE DIFFERENCES ON TRANSLATION TO PRESENTATION CURRENCY | (133) |
(148) |
||
| COMPREHENSIVE LOSS FOR THE PERIOD | (3,188) |
(3,280) |
||
| LOSS PER ORDINARY SHARE (in Dollars) | ||||
| Basic loss* | (0.22) |
(0.27) |
||
| Fully diluted loss* | (0.23) |
(0.32) |
||
*Retroactively adjusted to give effect to a two-for-one reverse stock split of the Ordinary Shares which became effective on February 20, 2022.
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
| (Unaudited) | |||
Three months ended March 31, |
|||
2022 |
2021 |
||
USD in thousands |
|||
| CASH FLOWS - OPERATING ACTIVITIES: | |||
| Net cash used for operating activities (see Appendix A) | (3,076) |
(1,644) |
|
| CASH FLOWS - INVESTING ACTIVITIES: | |||
| Purchase of equipment | (12) |
(10) |
|
| Installation of a production line | (6) |
(60) |
|
| Investment in joint venture | (74) |
- |
|
| Restricted deposits, net | - |
1 |
|
| Net cash used for investing activities | (92) |
(69) |
|
| CASH FLOWS - FINANCING ACTIVITIES: | |||
| Proceeds from issuance of shares and warrants, net | - |
8,473 |
|
| Exercise of options and warrants | - |
20 |
|
| Repayment of bank loan and interest thereon | (4) |
(4) |
|
| Payments with respect to lease liabilities and interest thereon | (85) |
(156) |
|
| Repayments of royalties' liability | - |
0 |
|
| Grants recognized as liability for royalties | - |
24 |
|
| Repayment of shareholder's loan | - |
(949) |
|
| Net cash provided by financing activities | (89) |
7,408 |
|
| NET INCREASE IN CASH AND CASH EQUIVALENTS | (3,257) |
5,695 |
|
| EXCHANGE DIFFERENCES ON CASH AND CASH EQUIVALENTS | (191) |
(233) |
|
| CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD | 8,280 |
2,278 |
|
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | 4,832 |
7,740 |
|
Three months ended March 31 |
|||
2022 |
2021 |
||
USD in thousands |
|||
| APPENDIX | |||
| A. NET CASH USED FOR OPERATING ACTIVITIES | |||
| Loss for the period | (3,055) |
(3,132) |
|
| Adjustments for: | |||
| Depreciation | 61 |
64 |
|
| Amortization of right-of-use assets | 139 |
98 |
|
| Increase (decrease) in research and development expenses due to royalty obligation | 105 |
(73) |
|
| Provision | (159) |
1,346 |
|
| Share in loss of joint venture company | 32 |
- |
|
| Other income | (80) |
- |
|
| Fair value adjustment of share options' liability | (102) |
(618) |
|
| Other financial expenses | 49 |
46 |
|
| Share-based payment | 261 |
55 |
|
(2,749) |
(2,214) |
||
| Changes in operating working capital: | |||
| Increase in trade and other receivables | (209) |
(7) |
|
| Decrease in inventory | 0 |
192 |
|
| Increase (decrease) in trade and other payables | (118) |
385 |
|
| Net cash used for operating activities | (3,076) |
(1,644) |
|
| Derecognition of Lease liability and right-of-use asset | 1,432 |
- |
|
| INTEREST PAYMENTS (included in financing activities items) | 18 |
38 |
|
U.S. Investor:
Chase Jacobson, Vallum Advisors
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 980-265-2597
Media:
Isaac Steinmetz
Antenna for Brenmiller Energy
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Building Integrated Photovoltaics (BIPV) Market (2022-2027) by Technology, Applications, End-Use, Deployment Type, Type, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Building Integrated Photovoltaics (BIPV) Market is estimated to be USD 16.94 Bn in 2022 and is projected to reach USD 36.89 Bn by 2027, growing at a CAGR of 16.84%.
Market dynamics are forces that impact the prices and behaviors of the Global Building Integrated Photovoltaics (BIPV) Market stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Competitive Quadrant
The report includes Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Building Integrated Photovoltaics (BIPV) Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Building Integrated Photovoltaics (BIPV) Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.
Why buy this report?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Market Segmentations
The Global Building Integrated Photovoltaics (BIPV) Market is segmented based on Technology, Applications, End-Use, Deployment Type, Type, and Geography.
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/1u4q6v
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HOUSTON--(BUSINESS WIRE)--Relevant Industrial, LLC (Relevant), a leader in the instrumentation and automation, rotating equipment, purification, and thermal equipment distribution and service sector, recently announced a territory expansion of their representation of Panametrics, a Baker Hughes business, to include Northern California and Texas. Relevant will now offer the full Panametrics product portfolio to California, Arizona, New Mexico, and Texas.
Panametrics, a Baker Hughes business, provides solutions in the toughest applications and environments for moisture, oxygen, liquid, and gas flow measurement. Relevant’s partnership with Panametrics will further expand its portfolio of analytical solutions to help customers with their critical measurements.
John Butts, Relevant Industrial’s Senior Vice President of Sales commented, “Our customers know that Relevant partners with companies that have well-known, widely deployed, and proven technologies. Panametrics not only meets but exceeds those standards.” Mr. Butts continued, “As an Authorized Channel Partner, Relevant aims to put Panametrics products in front of customers who need measurement products that provide the highest quality and perform under the harshest environments.”
Relevant Industrial has over 400 employees, covering key customer markets from the Texas and Louisiana Gulf Coast, north through Oklahoma and Arkansas to the Dakotas and Minnesota, and extending west through the Rockies, Southwest, and West Coast. Relevant has garnered a partnership with Honeywell that spans decades. Relevant also recently announced the purchase of Rawson/ICD - this acquisition expands the Honeywell Process Measurement and Controls territory into the eastern area of the United States.
About Relevant Industrial
Relevant Industrial, LLC was formed in 2010 to acquire Wilson Mohr, which traces its roots back to 1965. Since 2010, the company has grown organically and through numerous acquisitions, expanding its product portfolio and engineered solutions to a wide range of customer end markets. Relevant Industrial brings together the finest problem-solvers in the world: trained technicians, engineers, designers, and experts in a dozen other crafts focused on finding answers and delivering results. We sell parts and services, but our mission goes beyond that; we help customers realize new and better ways to operate more efficiently. Relevant serves customers in the Renewable Energy, Alternative Fuels, Semiconductor, Refining, Petrochemical Processing, OEM, Food processing, Upstream Oil & Gas, and Municipal markets through products and services including instrumentation and automation, rotating equipment, purification, and thermal equipment. Relevant Industrial is your partner for relevant solutions. For additional information about Relevant Industrial, visit relevantsolutions.com.
Panametrics, a Baker Hughes business
Niall Dowds
Senior Communications Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
Relevant Industrial
John Hutcheison
VP, Operations & Vendor Partner Manager
(281) 295-8823
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.