Investment in Clean Energy Data Platform Represents Seventh Deal in Firm’s Inaugural Venture Fund
NEW YORK--(BUSINESS WIRE)--#AlignedClimateCapital--Aligned Climate Capital, an investment firm focused on decarbonizing the global economy, announced today that it has closed a $5mm Series A investment in UtilityAPI, a data service provider for the clean energy economy. This represents the seventh investment in Aligned’s inaugural venture fund, the Aligned Climate Fund, and Aligned will be joining the Company’s Board of Directors.
UtilityAPI provides secure, standardized, and authorized access to utility data. The company was founded with a mission to fight climate change by offering a simple, fast solution for requesting and downloading utility customer bills and interval data, shared only with explicit customer consent, and revocable at any time. This streamlines the sales process for clean energy companies, allowing them to provide clean energy solutions faster, and more cheaply.
“Data access shouldn’t be a roadblock to clean energy deployment,” said Aligned Climate Capital CEO Peter Davidson. “UtilityAPI makes it quick and easy for clean energy companies and utilities to share data, while still protecting consumer privacy.”
The Aligned Climate Fund targets Seed through Series B investments in companies across four target sectors: clean energy, efficient buildings, electric transport, and sustainable land use. Specifically, Aligned focuses on companies that are scaling and enabling the deployment of proven technologies, like solar, electric vehicles, batteries, and more. Launched in March 2021, the Fund held a final close in January 2022 at $42 million of commitments and is now more than 80% committed across seven investments.
“We are out to prove that investors can achieve strong financial returns and help fight climate change at the same time,” continued Davidson. “By backing early-stage companies that use proven clean energy technologies, we believe you can make smart venture investments that minimize technology risk.”
Aligned Climate Fund Portfolio Companies
The Aligned Climate Fund has invested in seven companies to date. Each company is focused exclusively on climate and six of the seven ACF portfolio companies are led by women or people of color.
ChargeNet Stations
Sector: Electric Transport
Stage: Series Seed
ChargeNet develops DC Fast Charging (DCFC) stations for electric vehicles that are co-located with distributed solar and storage. The Company is focused primarily on deploying these solutions at quick-serve restaurants, including a partnership with a Taco Bell franchisee in California.
https://chargenetstations.com/
CleanFiber
Sector: Efficient Buildings
Stage: Series A
CleanFiber manufactures cellulose insulation from recycled waste materials that can be used in both commercial and residential applications at a lower cost and with fewer emissions than fiberglass.
https://www.cleanfiber.com/
pulsESG™
Sector: Multi-sector
Stage: Series Seed
pulsESG™’s enterprise software allows asset managers, financial services firms, and other companies to measure, track, and audit Environmental, Social, and Governance (ESG) metrics. pulsESG™ provides full integration with internal sources of data and external facing data systems allowing users to automate and audit ESG reporting.
https://pulsesg.com/
Sealed
Sector: Efficient Buildings
Stage: Series B
Sealed designs, manages, and finances home weatherization and electrification projects, making it easy and affordable for people to be more comfortable while using less energy.
https://sealed.com/
Swell Energy
Sector: Clean Energy
Stage: Series A
Swell installs, finances, and operates residential and commercial solar and battery storage systems as part of the Company’s Virtual Power Plant (VPP) network. The Company is a VPP developer and operator that has secured multiple utility contracts to provide grid services that support a carbon-free, distributed renewable energy system.
https://www.swellenergy.com/
SWTCH
Sector: Electric Transport
Stage: Series A
SWTCH provides EV charging solutions in urban multi-tenant settings—multi-family, office, and retail buildings—across North America; 50% of these buildings are low-moderate income multi-family buildings.
https://swtchenergy.com/
UtilityAPI
Sector: Clean Energy
Stage: Series A
UtilityAPI is a data service company that helps clean energy developers and utilities share data. The data is used to develop distributed energy resources, implement incentive programs, and meet regulatory requirements.
https://utilityapi.com/
About Aligned Climate Capital
Aligned Climate Capital LLC is an asset manager investing exclusively in the people, companies, and real assets that are decarbonizing the global economy. Founded in 2019, Aligned is a dynamic and mission-driven firm that believes solving climate change is a unique opportunity to generate strong financial returns, while also achieving meaningful environmental and social impact. The team works at the intersection of finance, technology, and public policy with a particular focus on ESG metrics.
Aligned currently has more than $1.8 billion in assets under management (as of 12/31/21) across three separate investment strategies: Aligned Climate Fund; Aligned Solar Partners, a tax-efficient distributed solar strategy; and Ares Climate Infrastructure Partners, its joint venture with Ares Management’s Infrastructure and Power Group.
Aligned’s senior leadership have been at the forefront of mobilizing private capital to solve climate change for more than a decade. Peter Davidson and Brendan Bell— Aligned’s CEO and COO respectively— met originally when they ran the US Department of Energy’s Loan Programs Office (LPO) under President Obama. In these roles they managed a $32 billion portfolio of innovative clean energy investments, including the first loan to Tesla and the first investments in utility-scale solar. After leaving government service, they launched Aligned Intermediary with their third partner, Larry Rodman, where they advised 12 institutional investors on investments in renewable energy and other climate solutions.
For more information, please visit www.AlignedClimateCapital.com
Suzi Emmerling
202-550-3785
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Power Industry Expert Who Pioneered Wind Turbine Repowering and Engineered Remaking of Gamesa Set to Turbocharge Malta’s Growth
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Malta Inc., a leading innovator of grid-scale, long-duration energy storage (LDES), announced today the addition of Philippe (“Phil”) Delleville as Managing Director of Product Development, Strategy and Operations.
Delleville joins Malta with extensive global business development acumen, having served in catalytic management positions with major national and international energy corporations. Delleville most recently held multiple roles with Siemens Gamesa Renewable Energy S.A., culminating in his leadership as the Global Head of Siemens Gamesa’s Project and Developmental Finance group.
In this position, Delleville oversaw over $4 billion in project financing and supported approximately 4 gigawatts worth of wind energy projects. Prior to his role in Project and Development Finance, he was Vice President / Managing Director of the Service department for the North American region, optimizing the department’s profitability and implementing key initiatives to grow the business. Under his direction, Siemens Gamesa became a pioneer in wind energy project repowering.
Prior to Siemens Gamesa, Delleville amassed two decades of international experience in general management, manufacturing operations, strategic marketing, and product management for Saint-Gobain Corporation, a publicly held multinational producer of construction products and high-performance materials.
In 2021 Delleville was appointed as a member of the Export-Import Bank of the United States (EXIM) Advisory Committee.
“Phil Delleville’s galvanizing approach to organizational development and project finance makes his addition to our team an exciting moment in the Malta Inc. journey,” said Malta CEO Ramya Swaminathan. “Phil’s proven international experience, his uncanny ability to anticipate what’s next, and his penchant for bringing people together will catalyze Malta’s progress as we rapidly advance toward global commercialization.”
Malta signaled that 2022 will be a transformational year for company as it implements its strategic plan with the addition of key industry professionals and a focus on commercial projects, as worldwide storage demand—particularly long duration—grows at an accelerating pace. Following the appointment of Alexandra (“Alie”) Pruner to the position of Board Chair last month, Delleville’s hiring is a major step in the company’s 2022 Strategic Plan to assemble a world-leading team and advance Malta’s position as the preeminent LDES company globally.
Delleville holds dual French and American citizenship and is multi-lingual, with fluency in English, French, German and Spanish. He earned a bachelor’s degree in international business and finance from the European School of Business, Germany, a bachelor’s degree in business administration from the Reims Management School, France, and his MBA from Temple University.
About Malta Inc.,
Based in Cambridge Massachusetts, Malta, Inc. has developed a Pumped Heat Energy Storage (PHES) system to provide long-duration, large-scale, cost-effective, and safe energy storage. Malta’s system stores electricity as thermal energy and then re-generates the electricity on demand for up to 200 hours, meeting daily and weekly needs. Malta’s PHES system also generates clean heat for industrial and district heating applications. The company was originally incubated at Google’s Moonshot Factory, X, and is backed by energy industry leaders Alfa Laval, Proman, Chevron Technology Ventures, as well as investors Breakthrough Energy Ventures and Piva Capital.
Visit: www.maltainc.com
Steven C. Sullivan
518-441-7272
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DUBLIN--(BUSINESS WIRE)--The "Rooftop Solar Photovoltaic (PV) Market Size, Market Share, Major Trends, and Key Country Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The report provides a clear overview of and detailed insight into the global rooftop solar PV market. The report provides data and analysis on the historic and forecast rooftop solar PV capacity. It also covers the market size for the 2013-2030 period.
The report covers 12 major countries in the market: Australia, Belgium, China, France, Germany, India, Italy, Japan, the Netherlands, United Kingdom, United States, and Vietnam. Each section provides an overview of the country's rooftop solar PV market, along with installed solar PV capacity for 2012-2030, market size (2013-2030), segmentation, and market drivers and restraints affecting the market, major active and upcoming rooftop solar PV plants in each country, major tenders and contracts, and brief information about the major manufacturers in the country.
Scope
Reasons to Buy
Key Topics Covered:
1. Executive Summary
1.1 Global Installed Capacity of Rooftop Solar PV to Reach 773.7 GW by 2030
1.2 Asia-Pacific to continue to be the largest Rooftop Solar PV Market in 2030
1.3 Germany is the largest market in cumulative capacity and China reported the largest annual additions
1.4 Changes in subsidy scheme in developed markets and upcoming rooftop solar PV projects
2. Introduction
2.1 Solar Photovoltaics (PV), Overview
2.2 Types of Solar Modules
2.3 Types of Rooftop Solar PV Installations
2.4 Solar PV, Value Chain
2.5 The Publisher Report Guidance
3. Rooftop Solar PV Market, Global
3.1 Rooftop Solar PV Market, Global, Overview
3.2 Rooftop Solar PV Market, Global, Share of Rooftop Capacity in Total Solar PV Capacity, 2012 - 2030
3.3 Rooftop Solar PV Market, Global, Cumulative Capacity and Annual Additions, 2012 - 2030
3.4 Rooftop Solar PV Market, Global, Average Costs and Market Size, 2013 - 2030
4. Rooftop Solar PV Market, Australia
5. Rooftop Solar PV Market, Belgium
6. Rooftop Solar PV Market, China
7. Rooftop Solar PV Market, France
8. Rooftop Solar PV Market, Germany
9. Rooftop Solar PV Market, India
10. Rooftop Solar PV Market, Italy
11. Rooftop Solar PV Market, Japan
12. Rooftop Solar PV Market, the Netherlands
13. Rooftop Solar PV Market, the UK
14. Rooftop Solar PV Market, the US
15. Rooftop Solar PV Market, Vietnam
For more information about this report visit https://www.researchandmarkets.com/r/erzvkl
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Advanced Lead Acid Battery Market by Type (Stationary, Motive), Construction Method (Flooded, VRLA), End-User (Utilities, Transportation, Industrial, Commercial & Residential) and Region (North America, APAC, Europe, RoW) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The market size of advanced lead acid battery is estimated to grow from USD 22.7 billion in 2022 to USD 30.7 billion by 2027, at a CAGR of 6.3% during the forecast period.
The advanced lead acid battery market has been growing moderately over the past five years, owing to rapid technological advancements and expansion in the telecom sector.
Utility is the fastest growing segment of advanced lead acid battery market by end-user
The advanced lead acid battery market by end-user is segmented into utility, transportation, industrial, and commercial & residential. The utility segment is expected to grow at the fastest rate owing to growing industrialization in developing countries such as India and China, which will enhance the electricity demand, creating the market for advanced lead acid batteries.
By type, motive segment is expected to account for the largest market share during the forecast period
By type, motive segment was the largest in the advanced lead acid battery market, in 2021, in terms of value. Motive advanced lead acid batteries are used in automotive and automobile applications and have a significantly high discharge and charge rate. These batteries commonly comprise of cathode, and anode plates, strengthened with either an amalgamate of lead and antimony in a flooded setup or calcium and lead alloy in a sealed setup. Usage of motive advanced lead acid batteries in automotive sector is expected to drive the market in the future.
Asia Pacific was the fastest growing region for advanced lead acid battery market in 2021
Asia Pacific is one of the major market for advanced lead acid battery, in terms of value. Asia Pacific is the leader in the advanced lead acid battery market, and this dominance is expected to continue during the forecast period as well. Key countries in the Asia Pacific advanced lead acid battery market include China, Japan, South Korea, and India, which dominated the region's overall market in terms of value in 2021. The growing demand for electricity in emerging countries of Asia Pacific are expected to drive the growth of the advanced lead acid battery market in the region.
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/uvtigz
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DEERFIELD BEACH, Fla.--(BUSINESS WIRE)--Capstone Companies, Inc. (OTC: CAPC) (“Capstone” or the “Company”), a designer, manufacturer and marketer of consumer inspired products that simplify daily living through technology announced today that it will host a webcast during which Chief Executive Officer, Stewart Wallach will provide a strategic update for 2022.
Stewart Wallach, Capstone’s CEO, commented, “I am looking forward to discussing the 2022 marketing initiatives planned and underway in support of our Capstone Connected programming.”
Friday, May 20, 2022
10:30 a.m. Eastern Time
Phone: 1-201-689-8562
A telephonic replay will be available from 2:30 p.m. Eastern the day of the call until Friday, May 27, 2022. To listen to the archived call, dial (412) 317-6671 and enter conference ID 13730178. Alternatively, the archive of the webcast will be available on the Company’s website at www.capstonecompaniesinc.com along with a transcript once available.
The Company welcomes you to visit its updated website at www.capstoneconnected.com that now enables users to reserve their preferred mirror.
About Capstone Companies, Inc.
Capstone Companies, Inc. is a public holding company that engages, through its wholly owned subsidiaries, Capstone Industries, Inc., Capstone Lighting Technologies, LLC, and Capstone International HK, Ltd., in the development, manufacturing and marketing of consumer products to retail channels throughout North America and certain international markets.
Visit our websites; www.capstonecompaniesinc.com for more information about the Company and www.capstoneindustries.com and www.capstoneconnected.com for information on our current product offerings. Contents of referenced URL’s are not incorporated herein.
Forward Looking Statements. Forward Looking Statements. This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing Company’s views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this press release and involve a number of risks and uncertainties, some beyond the Company’s control or ability to foresee, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including, including: the prospects of a new product line like the Smart Mirrors; the impact of Coronavirus/COVID-19 pandemic on the Smart Mirror product line and consumer responsiveness to that product line; any difficulty in manufacturing the products or marketing Company products in its target markets; growing competition in the very competitive market; and impact of evolving technologies in Smart Mirrors on Company’s prospects and products. Coronavirus/COVID 19 pandemic continues to restrict or adversely impact the general economy as well as business operations of companies and retailers, especially consumer product companies like our company that has traditionally relied on retail distribution. Further, whether resulting from Coronavirus/COVID-19 pandemic or our status as a smaller reporting company or both factors, an increase in the cost or the difficulty to obtain debt or equity financing necessary to produce and promote our product line could affect our ability to fund operations or future financial and business performance. The future impact of Coronavirus/COVID-19 pandemic and the emerging variants of that virus on our company and its Smart Mirror launch continues to very difficult to foresee or predict. Additional information that could lead to material changes in Company’s performance is contained in its filings with the Securities and Exchange Commission. Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of current information, future events or otherwise. Any investment in the Company’s common stock, which is a “penny stock,” is highly risky and not suitable for investors who require liquidity and are unable to withstand the loss of their investment. Investors should only rely on public information in our filings with the SEC, especially disclosures of Risk Factors, as a basis for investment decisions about Company common stock. Company’s SEC filings can be accessed through SEC website: www.sec.gov or the corporate website listed below.
Aimee C. Brown
Corporate Secretary
(954) 252-3440, ext. 313
DUBLIN--(BUSINESS WIRE)--The "Sonar Systems Market Share, Size, Trends, Industry Analysis Report, By Application; By Ports; By Installation, By Region; Segment Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global sonar systems market size is expected to reach USD 7.0 billion by 2030, according to a new study. This report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Key factors driving the market's growth include stable growth in the deliveries of military vessels. The market will be driven by the steady increase in military vessel deliveries. Military vessels use a handful of the most modern systems for maximum precision. These are employed on military ships for various purposes, including mine detection, seabed terrain analysis, anti-submarine warfare, diver detection, and port security.
Submarines utilize active sonar to navigate enemy seas undetected, but aircraft carriers and corvettes employ multi-static sonar to identify enemy ships. The growing number of such military ships on the water will help the industry in the coming years. Furthermore, un-manned Underwater Vehicles (UUVs) are remotely operated underwater vehicles that are utilized for various functions in the marine environment, including mine detection, seabed terrain exploration, fish behavioral observation, and so on.
These uncrewed aerial vehicles (UUVs) are evolving as more militaries and other organizations show interest in them. Due to the small size of UUVs, the systems employed in them must likewise be small, and the systems must be modern enough to work efficiently on the remote control. This allows the industry to both change and flourish simultaneously.
Based on the platform, the airborne segment accounted for the leading share in the industry. During the predicted period, the airborne category will see significant expansion. Early detection of opponents' submarines to prevent attacks and loss of resources is a crucial usage of sonobuoys and dipping port in the airborne segment, generating demand for sonobuoys.
Market Dynamics
Drivers and Opportunities
Restraints and Challenges
The publisher has segmented the sonar systems market report based on application, platform, ports, Installation, and region:
Sonar Systems, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Sonar Systems, Platform Outlook (Revenue - USD Billion, 2018 - 2030)
Sonar Systems, Ports Outlook (Revenue - USD Billion, 2018 - 2030)
Sonar Systems, Installation Outlook (Revenue - USD Billion, 2018 - 2030)
Sonar Systems, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/5hi853
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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GRAND JUNCTION, Colo.--(BUSINESS WIRE)--#DigitalOilfield--Iron-IQ and ScoutFDC, powered by WolfePak Software, announced their partnership with Texas-based oil and gas company Greenlake Energy. Iron-IQ, the industry-leading cloud-native SCADA software provider, has joined forces with ScoutFDC, a field data capture platform that streamlines production data management processes, to further Greenlake Energy’s lean and nimble modern operations.
This partnership solidifies Greenlake Energy as a data-driven, modern operator of the future. The combination of data-driven culture, native cloud ecosystem and ESG-conscious engineering designs offer a differentiating storyline for Permian Basin operators.
“Greenlake Energy provided an opportunity to rethink legacy industry challenges and establish a cloud-first ecosystem across the well lifecycle. Strategic partners, Iron-IQ and ScoutFDC, quickly validated our shared vision and became anchor points for our Intelligent Operations program. Wellsite telemetry will be the lifeblood of our operate-by-exceptions workflows and data science initiatives. It was imperative to reevaluate traditional SCADA offerings. Collectively, we are confident this partnership will deliver mobile operator efficiency, reduced GHG intensity and boost operational uptime. We feel this collaborative partnership directly models the way for the responsible, modern operator moving forward,” said Rob Hembree, Greenlake Energy’s VP of Technology.
Field Superintendent of Greenlake Energy, Nick Sanchez shared, “We are carrying forward our commitment as a recognized responsible operator based on a proven track record at Parsley Energy. The low-carbon, low-cost barrel wins the day. This partnership serves as a foundation for intelligent well surveillance and improved incident response. The aligned vision across our teams will help optimize every barrel we produce while simultaneously minimizing emission intensity across our assets.”
Rethinking traditional field data capture was a primary objective. Greenlake Energy aims to digitize key development and production workflows from real-time production surveillance through production accounting reconciliation. The cloud-native and best-in-class field operations platforms enable digital workflow and integration across SCADA alarm rationalization, downtime tracking, and asset maintenance. All are counter to antiquated legacy E&P solutions.
"Every competitive energy producer should have SCADA," said Iron-IQ CEO Michael Ligrani. "However, most SCADA Systems are not built for tomorrow," Ligrani explained. "The best operators understand that SCADA and access to data have become a critical part of their business. The tough part until now is ensuring whatever SCADA System you invest in will be more capable and easier to use in the future. We've rethought how modern SCADA architecture looks and performs, and we're changing the way SCADA is implemented in the oil and gas industry. We are the future platform."
As the oilfield becomes more digital, combined with ever-increasing data volumes and measurement complexity, many other energy companies are struggling to continuously manage it. With the changing landscape of environmental regulations and the need for on-demand data, switching to a cloud-native and mobile-first solution is a necessary step in the evolution of how E&Ps will operate in the future.
“Greenlake Energy and like-minded operators are establishing the blueprint for modern systems, and Scout is proud to be a part of that foundational solution,” said Paul Marino, GM of ScoutFDC, a division of WolfePak Software. “By leveraging Scout for data collection, production surveillance, incident response, and ESG events, Greenlake is positioned to scale as a responsible operator without the burden of legacy systems. We have big things in store for our relationship with Greenlake and are excited to work with this team.”
The future of SCADA and field data management is being led by Iron-IQ and ScoutFDC with modern operators like Greenlake Energy setting the pace for the rest of the industry. To learn more about Iron-IQ and to schedule your demo, reach out to us at www.iron-iq.com/contact or call at 877-664-9355. To learn more about ScoutFDC, please visit wolfepak.com/scout/.
About Iron-IQ
Iron-IQ provides operators a frictionless path to getting all their equipment, people, and processes connected on the cloud with affordable cloud-native oil and gas SCADA. IRON-IQ formed from merging an established energy software company with a major SCADA provider, and together we offer deep domain expertise, better software, and work with hardware others can’t. Our cloud-native platform provides on-demand scalability with no expensive up-front costs and internal IT support. Gain all the benefits of enterprise SCADA without the price tag. For more information, please visit www.iron-iq.com.
About WolfePak Software
WolfePak Software offers cloud-based business automation software for independent oil and gas upstream and midstream companies, including E&P operators, crude oil purchasers, transporters, haulers, investors, and accounting firms. Located in Abilene, Texas, WolfePak serves over 2,000 customers primarily in North America. With its staff of experienced software developers, and oil and gas accounting professionals, WolfePak has been helping customers automate business operations, reduce operating costs, and increase their profitability since 1986. For more information, please visit www.wolfepak.com.
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Chief Revenue Officer, Iron-IQ
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BRYAN, Texas--(BUSINESS WIRE)--FSX, LLC, the developer of the Freight Shuttle System and Port Houston, have entered into an agreement to explore the steps required for deployment of Freight Shuttle’s Seaport System at the Port’s growing container facilities. The Freight Shuttle is an elevated, zero emission system for moving shipping containers to and from the Port’s busy terminals, making best use of available space and addressing the need to improve air quality in the region.
“Considering the tsunami of freight on the horizon, solutions like the Freight Shuttle are needed now more than ever,” says Steve Roop, the founder and CEO of FSX. With immense commercial growth at Port Houston, creative solutions are needed as demand for Port services continues to grow. Recent and ongoing global supply chain disfunction has highlighted this necessity. The Freight Shuttle Seaport System is a force multiplier for cargo space by accelerating the rate at which shipping containers are moved from the port, transporting them via autonomous vehicles safely and efficiently to a facility closer to customer hubs and away from critical high-traffic choke points. The proposed system will promise to keep pace with commercial growth at the port while reducing emissions and reducing truck miles on roadways shared by passenger vehicles. Implementation of the Freight Shuttle System is one way that Port Houston is planning to stay in front of the shipping needs of the Houston region. The agreement is a commitment to work together on the Freight Shuttle, which represents a significant innovation and builds on the introduction of the intermodal shipping container which first appeared in large scale use in 1965.
The Freight Shuttle (FSX) has been developed to provide a low-emission alternative to moving freight in heavy freight corridors or ports of entry. Freight Shuttle moves truck trailers, domestic intermodal containers (up to 53 ft.), and all sizes of ocean shipping containers via emissions-free, electric-powered transporters on elevated guideways in highway or other rights-of-way over distances of up to 500 miles. For more information visit www.freightshuttle.com.
JESSICA FRANKLIN
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979-229-0687
Investment will be used to scale software development, hardware integrations, and expansion into new industries
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Levatas, developers of AI software that enables robots, drones, remote sensors, and fixed cameras to execute operational tasks at industrial sites, announced that it has raised $5.5 million in a seed round led by Castellan Group. Levatas was founded by CEO Chris Nielsen, along with partners Ryan Gay and Daniel Bruce, who serve as Chief Financial Officer and Chief Product Officer, respectively.
The funding will be used to grow the machine learning engineering team, help the company extend into additional industries, and enable integration with a broader array of data capture hardware. Currently, Levatas’s platform and industrial AI models create greater efficiency for major chip manufacturers, global automakers, oil refineries, energy producers, and one of the largest breweries in the United States. Specific to each facility, the Levatas team builds and deploys fully operational models for analog gauge reading, thermal anomaly reporting, people identification, and detection of environmental changes over time. These tasks are then executed daily by autonomous robots, drones, camera systems, and other visual data collection devices.
“Our team lives and breathes the world of AI, but our core mission is all about people. We give machines the ability to handle the dirtiest, most repetitive, and dangerous tasks so that our clients' human employees can focus on problem-solving, thoughtful execution, and company growth,” explained Nielsen. "Because we enable their machines to handle rigorous tasks, the organizations we serve can see demonstrable ROI, as measured by higher efficiency, more uptime, and safer workplaces.”
Through automating labor-intensive tasks like reading analog gauges and performing equipment inspections, companies can significantly lower operational costs and create safer, more efficient facilities for employees. The Levatas platform and inspection models work with a wide variety of visual-capture platforms; ranging from fixed camera networks, to advanced drones and quadruped robots like Boston Dynamics’ Spot®.
"We’ve worked with Levatas on numerous projects and we’re continually impressed by what they bring to the table,” said Tim Dykstra, Director of Strategic Partnerships and Channel Sales at Boston Dynamics. "Spot is an agile mobile robot that is particularly well-suited for industrial inspections, because it captures data in a standardized, repeatable way. The Levatas team develops machine learning models that enable the robot to respond to complex tasks based on visual data it collects, so together, we can continuously monitor industrial assets to predict failures earlier and prevent unplanned downtime."
“The world of industrial robots and drones is accelerating at an astonishing rate, but what good are robots and industrial devices without automated intelligence to maximize their value?” added Scott Smith, Founding Family Member of Castellan Group, and new Levatas board member. “After meeting the Levatas team and seeing firsthand the value they are unlocking within their global customers, we quickly recognized their leadership in this category and we’re excited to watch them grow with our support.”
About Levatas
Based in West Palm Beach, FL, Levatas is the leading developer of cognitive intelligence for automating industrial inspections. Levatas creates and delivers end-to-end solutions that enable robots, drones, remote sensors and camera systems to autonomously perform equipment monitoring, safety checks, and site surveillance tasks in industrial environments. Learn more at www.levatas.com
About Castellan Group
Castellan Group, LLC is a SEC-registered investment advisor and multi-family family office that exists to partner with ultra-high net worth families as accountable stewards of their assets. In addition to managing several quantitative public investment strategies, Castellan structures direct investments in healthcare, financial technology, emerging consumer, green technology, and waste disposal businesses across all stages of growth.
Media:
Heath Fradkoff
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Building the grid of the future is a top priority
MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy announced several key leadership changes designed to advance the company’s groundbreaking commitment to lead the company’s clean energy transition. Transforming the grid to meet evolving energy needs is a key priority for the company.
Alice Jackson, current president of Xcel Energy – Colorado, is appointed to senior vice president, System Strategy and chief planning officer, leading a new enterprise-wide System Planning organization. It will focus on developing integrated plans for generation, transmission and distribution on the electric and natural gas systems to meet our vision to deliver net-zero energy by 2050 while preserving reliability and affordability for customers.
“This innovative approach to strategic planning is transformative for our industry and Alice is the perfect person to lead the charge as a proven business leader who has engaged employees, communities and stakeholders to deliver on our nation leading clean energy vision,” said Bob Frenzel, chairman, president and CEO of Xcel Energy.
The company is also announcing new presidents for both our Colorado and Texas – New Mexico operating companies.
Robert Kenney will succeed Alice Jackson as the new president of Xcel Energy – Colorado. Kenney currently serves as senior vice president of Regulatory and External Affairs for PG&E, leading the company’s regulatory strategy and execution with California’s Public Utilities Commission and the Federal Energy Regulatory Commission. He’s also responsible for the company’s governmental affairs and community relations efforts, including oversight of PG&E’s charitable giving and corporate foundation. Prior to PG&E, Kenney was the chair of the Missouri Public Service Commission.
Adrian Rodriguez has been elected to the role of president for Xcel Energy – Texas and New Mexico as David Hudson retires. He currently serves as the senior vice president of Regulatory and Strategy at Puget Sound Energy (PSE), leading the company’s clean energy strategy including regulatory and governmental affairs. Prior to PSE, Rodriguez was General Counsel and interim-CEO of El Paso Electric.
“We’re so fortunate to have such outstanding talent joining our already robust leadership team," said Brett Carter, executive vice president, group president - Utilities and chief customer officer. "These changes position us for great success in the regulatory and stakeholder arenas as we grow our business to meet customers’ evolving energy needs.”
Rodriguez will join Xcel Energy June 1, with current Xcel Energy – Texas and New Mexico President David Hudson officially retiring July 1. Kenney will join Xcel Energy and assume his new role on June 6.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Xcel Energy Media Relations
(612) 215-5300
www.xcelenergy.com
DALLAS--(BUSINESS WIRE)--Atmos Energy recently completed the installation of a natural gas-powered fuel cell at its corporate data center to generate high efficiency, grid-independent electricity with low emissions. The 460-kilowatt fuel cell generates electricity and heat through an electrochemical process with no combustion or moving parts – allowing it to deliver up to 90 percent system efficiency and much lower emissions, or emissions-free when coupled with renewable natural gas or carbon offsets.
“Natural gas once again proves it plays a pivotal role in lowering greenhouse gas emissions while increasing reliability to our critical facilities,” said Jennifer Ries, Atmos Energy vice president of pipeline safety. “We are excited to have this innovative technology operational and will continue to explore additional pathways to achieve increased reliability and a low carbon energy future.”
According to the manufacturer, a natural gas-powered fuel cell offsets approximately three times more carbon dioxide (CO₂) than either solar or wind thanks to the fuel cell’s high efficiency, high-capacity factor, and very low or zero emissions. A fuel cell also uses much less land than other renewable energy projects, generating nearly 500 times more power per square foot annually than solar or wind.
Natural gas remains the energy of choice for 3.4 million Atmos Energy customers across eight states, and this project demonstrates the vital role natural gas plays as a safe and reliable driver of a lower carbon energy future. Looking ahead, Atmos Energy will work to power the fuel cell with renewable natural gas (RNG) produced from methane captured at landfills and livestock farms or combine with carbon offsets, to further benefit the environment and deliver even greater sustainability.
About Atmos Energy
Atmos Energy Corporation, an S&P 500 company headquartered in Dallas, is the country’s largest natural gas-only distributor. We safely deliver reliable, affordable, efficient and abundant natural gas to more than 3 million distribution customers in over 1,400 communities across eight states located primarily in the South. As part of our vision to be the safest provider of natural gas services, we are modernizing our business and infrastructure while continuing to invest in safety, innovation, environmental sustainability and our communities. Atmos Energy manages proprietary pipeline and storage assets, including one of the largest intrastate natural gas pipeline systems in Texas. Find us online at http://www.atmosenergy.com, Facebook, Twitter, Instagram and YouTube.
Celina Cardenas Fleites
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CENTRAL ISLIP, N.Y.--(BUSINESS WIRE)--CVD Equipment Corporation (NASDAQ: CVV), a leading provider of chemical vapor deposition systems and materials, today announced its first quarter 2022 financial results.
CVD first quarter 2022 revenue was $4.7 million as compared to $3.4 million in the first quarter of 2021, an increase of $1.3 million or 38.3%. Net loss for the first quarter of 2022 was $1.0 million, or $.15 per diluted share, as compared to a net loss of $1.5 million, or $.23 per diluted share in the first quarter of 2021.
CVD’s operating loss improved by $.6 million, to $1.0 million for the first quarter 2022 as compared to an operating loss of $1.6 million for the first quarter of 2021. This improvement was the result of leveraging fixed costs on higher sales levels, which resulted from improved orders towards the end of 2021, as well as product mix, which more than offset certain component costs increases and compensation costs. In addition, general and administrative costs decreased $.4 million, which was primarily related to reduced legal costs and lower building costs as the result of the sale of the Company’s 555 facility in July 2021, and the consolidation of operations into the Company’s 355 facility.
Beginning in Q3 2021 and continuing to date, CVD has been impacted by increased costs on certain manufacturing material components as well as delays in supply chain deliveries. This may also impact CVD’s ability to recognize revenue and result in reduced gross profit margins in future quarters, extended manufacturing lead times and reduced manufacturing efficiencies. CVD has placed orders with increased lead times to attempt to mitigate the manufacturing delays, as well as assessing other material suppliers to mitigate the potential cost impacts. In addition, CVD is utilizing its in-house flexible manufacturing to further mitigate both potential delivery delays and material cost increases.
Thomas McNeill, Executive Vice President and Chief Financial Officer, said “On March 1, 2022, we satisfied our remaining mortgage of $1.7 million on our 355 South Technology Drive facility and as such have no debt outstanding. The Company’s backlog at March 31, 2022 was $9.9 million as compared to $10.4 million at December 31, 2021, a decrease of $.5 million or 4.8%. This decrease is due to the timing of the receipt of new orders during quarter ended March 31, 2022 of $4.1 million as compared to revenue of $4.7 million. While the negative effect of COVID-19 crisis continues to impact the aerospace industry generally in the form of reduced travel and reduction of gas turbine engine sales, industry reports indicate improvement will begin to occur in the late 2022-2023 timeframe.”
Mr. Lakios added, “2022 has proven to be a year where our strategy of focusing on the markets that support the “electrification of everything” is fueling our future growth. In the first four months of 2022 ending April 30, we have received orders exceeding $11 million for our CVD Equipment products. The orders primarily consist of nineteen (19) CVD/FirstNano systems compared to 23 system orders for all of 2021. Of the nineteen (19) system orders, fourteen (14) are for our recently announced PVT-150 system addressing SiC growth and processing, while the remainder of the system orders are for battery materials R&D and production, advance carbon based capacitors and for a legacy advanced R&D FirstNano product. The systems are planned for shipment over the next several quarters. Additionally, to support the market acceptance of our products, we are taking measures to address lingering supply chain uncertainties caused by both the COVID pandemic and the geopolitical instability in Eastern Europe. The key two initiatives are partnering with key suppliers and expanding our in-house production capabilities. Both are essential to our goal of self-reliance and will support our commitments to our customers.”
“Along with the CVD Board of Directors and all our loyal employees, we are committed to stay the course of our strategy to achieve profitability, with a focus on growth and return on investment. We look forward to communicating with you in our upcoming conference call.”
The Company will hold a conference call to discuss its results today at 5:00 pm (Eastern Time). To participate in the live conference call, please dial toll free (877) 407-2991 or International (201) 389-0925. A telephone replay will be available for 7 days following the call. To access the replay, dial (877) 660-6853 or international (201) 612-7415. The replay passcode is 13729881. A live and archived webcast of the call is also available on the company’s website at www.cvdequipment.com/events.
About CVD Equipment Corporation
CVD Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, gas control, and other state-of-the-art equipment and process solutions used to develop and manufacture materials and coatings for research and industrial applications. This equipment is used by its customers to research, design, and manufacture these materials or coatings for aerospace engine components, medical implants, semiconductors, battery nanomaterials, solar cells, smart glass, carbon nanotubes, nanowires, LEDs, MEMS, and other applications. Through its application laboratory, the Company provides process development support and process startup assistance with the focus on enabling tomorrow’s technologies™. It’s wholly owned subsidiary CVD Materials Corporation provides advanced materials and metal surface treatments and coatings to serve demanding applications in the electronic, biomedical, petroleum, pharmaceutical, and many other industrial markets.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Exchange Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, market and business conditions, the COVID-19 pandemic, the success of CVD Equipment Corporation’s growth and sales strategies, the possibility of customer changes in delivery schedules, cancellation of, or failure to receive orders, potential delays in product shipments, delays in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements, and other risks and uncertainties that are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and the Company’s other filings with the Securities and Exchange Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor of the Private Securities Litigation Reform Act of 1995. The Company assumes no obligations to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise. Past performance in not a guaranty of future results.
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES |
|||||||||
Condensed Consolidated Statements of Operations |
|||||||||
For the Three Months Ended March 31, 2022 and 2021 |
|||||||||
(In thousands) |
|||||||||
|
|
||||||||
Three Months Ended |
|
||||||||
|
2022 |
|
|
2021 |
|
|
|
||
Revenue |
$ |
4,656 |
|
$ |
3,366 |
|
|
|
|
Gross profit |
|
770 |
|
|
444 |
|
|
|
|
Operating expenses |
|
1,776 |
|
|
2,063 |
|
|
|
|
Operating loss |
|
(1,006 |
) |
|
(1,619 |
) |
|
|
|
Net loss |
|
(997 |
) |
|
(1,506 |
) |
|
|
|
Diluted loss per share |
$ |
(0.15 |
) |
$ |
(0.23 |
) |
|
|
|
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES |
|||||
Condensed Consolidated Balance Sheets |
|||||
As of March 31, 2022 and December 31, 2021 |
|||||
(In thousands) |
|||||
(unaudited) |
|||||
|
2022 |
|
2021 |
||
Assets |
|||||
Current Assets |
|||||
Cash and cash equivalents |
$ |
13,271 |
$ |
16,651 |
|
Accounts receivable, net |
|
1,498 |
|
1,446 |
|
Contract assets |
|
2,718 |
|
2,538 |
|
Inventories, net |
|
1,738 |
|
1,225 |
|
Taxes Receivable |
|
- |
|
716 |
|
Other current assets |
|
384 |
|
494 |
|
Total Current Assets |
$ |
19,609 |
$ |
23,070 |
|
Property, plant and equipment, net |
|
12,197 |
|
12,261 |
|
Other assets |
|
201 |
|
193 |
|
Total Assets |
$ |
32,007 |
$ |
35,524 |
|
Liabilities and Stockholders' Equity |
|||||
Current Liabilities |
$ |
3,719 |
$ |
6,336 |
|
Total Stockholders’ Equity |
|
28,288 |
|
29,188 |
|
Total Liabilities and Stockholders’ Equity |
$ |
32,007 |
$ |
35,524 |
|
CVD earnings release should be read in conjunction with the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for fiscal year ended December 31, 2021.
For further information about this topic please contact:
Thomas McNeill, EVP & CFO
Phone: (631) 981-7081
Fax: (631) 981-7095
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MIAMI--(BUSINESS WIRE)--#cleanenergyfinance--Sol-REIT, which is revolutionizing clean energy financing through innovative construction-to-permanent loans leveraging a mortgage REIT model, has secured a substantial credit facility with a leading financial institution committed to environmental change.
The agreement with Amerant Bank, the largest community bank in Florida, will allow Sol-REIT to deploy cost-effective capital to support small and medium-sized solar developers to finance renewable energy projects in communities everywhere, including historically underserved areas.
“By securing a warehouse facility with a major regional bank, we’re able to provide small to medium-sized solar developers with access to capital and proliferate the access to clean energy for many households and businesses across the country,” said Mark Settles, CEO of Sol-REIT.
The Amerant Bank facility will provide Sol-REIT the ability to expeditiously execute its expansive pipeline of over $800 million and 400 megawatts of solar power. Sol-REIT is financing individual solar projects with an average loan size of $5 million to $50 million.
“Amerant is committed to offering products and services that help our communities and customers address the unique impacts of climate change,” said Jerry Plush, Amerant Vice Chairman and CEO.
Sol-REIT has structured an extremely compelling mortgage product for middle-market solar developers. Historically, solar financing has been inefficient, which is why Sol-REIT is changing the game in this sector.
“We are elated to further expand our relationship with Amerant Bank. Amerant has seen the vision of Sol-REIT and is at the forefront of being a capital growth driver in the renewable finance business,” stated Sol-REIT’s Co-Founder and Head of Capital Markets, Brian A. Sidman. “While other banks may follow, Amerant has proven to be a prominent banking institution that is insightful in growing their footprint while limiting risk through their diversification into investment-grade, quality, clean energy financing.”
“We are actively trying to help bridge the gap faced by communities by providing access to finance and building trusted relationships,” Plush said. “This engagement with a credit facility offers us the unique opportunity to drive both of these objectives. It is our expectation that by partnering with Sol-REIT, we can extend our financial services to the underserved while facilitating climate resilience.”
The 400 megawatts of solar power is equivalent to powering 72,253 homes with electricity every year or eliminating nearly a billion miles driven by an average gasoline-powered passenger vehicle annually.
“There is no question that global climate concerns are causing the world to re-think their energy supply chain and evaluate sustainable alternatives,” said Danny Rivera, SVP, Head of Specialty Finance at Amerant Bank, who spearheaded the transaction. “Credit facilities, such as the one we are providing to Sol-REIT, intentionally support the transition to solar energy.
“Specifically for underserved small and medium-sized businesses with a sustainable purpose, credit facilities provide a fundamental tool for business continuity, liquidity and financing flexibility.”
Founded by Jim Spano, Kevin Adler and Brian A. Sidman, Sol-REIT is the first and only firm seeking to bring mortgage REITs (real estate investment trusts) to the renewable energy market.
About Amerant Bank
Amerant Bank, N.A., is the largest community bank headquartered in Florida and the main subsidiary of Amerant Bancorp Inc. (NASDAQ: AMTB), with a presence across South Florida and in Tampa, FL, and Houston, TX. The bank has been serving clients for over 40 years, both domestically and abroad, and comprises subsidiaries Amerant Investments and Amerant Mortgage. Rooted in the communities it serves, Amerant Bank supports numerous non-profit, charitable and arts organizations. For news and updates, visit the Amerant Newsroom.
About Sol-REIT:
Sol-REIT revolutionizes clean energy financing by providing innovative construction-to-permanent loans for middle-market solar developments across North America. This segment is remarkably underserved in today’s renewable energy market. Led by a team of industry experts experienced in solar development, real estate lending, REITs, and fixed income, Sol-REIT is the first investment vehicle to bring mortgage REITs to the renewables market. In the process, Sol-REIT strives to play an important role in reducing the global carbon footprint. By financing solar similar to real estate, Sol-REIT offers flexible financing for solar projects that matches the asset’s operational life while empowering solar developer entrepreneurs to become long-term owners of their own projects. Sol-REIT is currently financing individual solar projects with an average loan size of $5 million to $50 million. For more information, visit https://www.sol-reit.com
Media Contact:
Sid Robinson, APR
Sol-REIT / (909) 227-9589
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Media Contact:
Victoria Verdeja / Amerant Bank
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Increasing natural gas deliveries to the South Texas markets
HOUSTON--(BUSINESS WIRE)--Gulf Coast Express Pipeline LLC (GCX) today announced an open season to solicit commitments for an expansion project on its system. Upon achieving a final investment decision (FID), the project will increase GCX’s capacity by nearly 570 million cubic feet per day (MMcf/d).
The project will involve primarily compression expansions on the GCX system to increase natural gas deliveries from the Permian Basin to South Texas markets. Pending customer commitments, the target in-service date for the project is December 1, 2023.
The open season begins May 16, 2022, and ends June 6, 2022, at 5 p.m. Central Time, though GCX reserves the right to extend the open season as needed. Those interested in obtaining more detailed information about this open season can visit this page on the Kinder Morgan website or contact Enrique Valencia, Director of Business Development in Kinder Morgan’s Natural Gas group at 713.420.5017 or This email address is being protected from spambots. You need JavaScript enabled to view it..
GCX is jointly owned by subsidiaries of Kinder Morgan, Inc. (NYSE: KMI), DCP Midstream, LP (NYSE: DCP), an affiliate of ArcLight Capital Partners, LLC, and Kinetik Holdings Inc. (NASDAQ: KNTK) with an ownership interest of 34%, 25%, 25% and 16% respectively. Kinder Morgan Texas Pipeline (KMTP) is the operator of GCX.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient and environmentally responsible manner for the benefit of the people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines, 141 terminals, and 700 billion cubic feet of working natural gas storage capacity. Our pipelines transport natural gas, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
About DCP Midstream, LP
DCP Midstream, LP (NYSE: DCP) is a Fortune 500 midstream master limited partnership headquartered in Denver, Colorado, with a diversified portfolio of gathering, processing, logistics and marketing assets. DCP is one of the largest natural gas liquids producers and marketers and one of the largest natural gas processors in the U.S. The owner of DCP’s general partner is a joint venture between Enbridge and Phillips 66. For more information, visit the DCP Midstream, LP website at www.dcpmidstream.com.
About ArcLight Capital Partners, LLC
ArcLight Capital Partners, LLC (ArcLight) is one of North America’s leading energy infrastructure firms, helping pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $25 billion in 117 transactions since inception. Based in Boston, the firm's investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists, as well as the firm's 1,500-person asset management affiliate. More information about ArcLight can be found at www.arclight.com.
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Houston and Midland, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.
Kinder Morgan Contacts
Victoria Oddi
Media Relations
(713) 420-7641
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Investor Relations
(800) 348-7320
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www.kindermorgan.com
DCP Midstream Contacts
Jeanette Alberg
Media Relations
(303) 605-3424
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Michael Fullman
Investor Relations
(303) 605-1628
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www.dcpmidstream.com
ArcLight Contacts
Media Relations
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Terry Wetterman
Investor Relations
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www.arclight.com
Kinetik Contacts
Jim Schwartz
Media Relations
(713) 487-4838
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Maddie Wagner
Investor Relations
(713) 487-4832
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www.kinetik.com/
TULSA, Okla.--(BUSINESS WIRE)--Black Bay Energy Capital (“Black Bay”), a private equity firm focused on the North American energy sector, announced that it has acquired a majority interest in Advanced Industrial Devices (“AID” or the “Company”) from Rock Island Capital (“Rock Island”). AID is a leading provider of electric motor automation and control solutions for oil and gas and industrial applications.
AID will continue to be headquartered in Tulsa, Oklahoma and led by Russell Claybrook, Chief Executive Officer. AID designs and sells custom variable frequency drive control systems (“VFD”) that are utilized across a diverse set of applications within the oil and gas and industrial sectors. The investment from Black Bay will help support AID’s customer demand and expand the Company’s manufacturing, engineering and service capabilities to capitalize on the growing market for electric motors and VFDs. AID’s VFD solutions enable end users to reduce operating costs, improve asset runtimes, enhance automation and control capabilities, and lower carbon footprints.
Russell Claybrook, CEO of AID, commented, “We are pleased to announce our strategic partnership with the Black Bay team for our next phase of growth. AID has evolved over the last ten years into a premier provider of VFD control packages and we pride ourselves on developing tailored solutions to address client needs. Electric motors and VFDs are utilized in countless industries across the world and we view this partnership with Black Bay as a key step in leveraging our collective experience to capitalize on new applications and industry sectors, while also delivering unmatched quality and service to our existing customers. We look forward to benefiting from Black Bay’s deep sector knowledge, industry relationships, and financial backing to support the next evolution of the Company. We would like to acknowledge and thank the Rock Island team for their involvement and support in helping us reach this point.”
Matt Schovee, Principal of Black Bay, commented, “Rising pressure from stakeholders is going to drive end users to shift further towards cleaner, electric driven equipment and we believe AID is uniquely positioned to capitalize on this trend. Russell and the entire AID team have built an impressive business and unique culture centered around customer service, collaboration, and professionalism and we are thrilled to be partnering with them.” Michael LeBourgeois, Managing Partner of Black Bay, added, “We are excited to partner with Russell and the entire AID team to support the Company’s continued growth. The trend of electrification within the oil and gas and various other industrial sectors is a key investment focus area for Black Bay.”
Brian Bastedo, Partner at Rock Island, said, “We had a wonderful relationship with AID over the last nine years and were excited about how the team was able to transform the business. Partnering with Black Bay will enable AID to reach its growth potential over the coming years. We appreciated Black Bay’s speed and professionalism in closing the transaction.”
Fishman Haygood acted as legal counsel to Black Bay. McDermott Will & Emery acted as legal counsel to AID and Rock Island. Chicago, IL based Old Second National Bank supported the transaction through upsized lending facilities.
About Advanced Industrial Devices
Founded in 1983, AID has evolved over its nearly 40 years in business from primarily an electric motor distributor to a leading provider of electric motor automation and control solutions across the United States. AID designs and sells custom variable frequency drive control systems that are utilized across a diverse set of applications within the oil and gas and industrial sectors. For more information, please visit www.aidusa.com.
About Black Bay Energy Capital
Black Bay is a private equity firm focused on the North American energy sector. Black Bay invests equity capital alongside talented entrepreneurs that provide a differentiated product or service to their clients to help reduce costs, improve operations, and achieve ESG initiatives. The firm’s investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth companies. www.blackbayenergy.com
About Rock Island Capital
Rock Island Capital provides equity and mezzanine capital to middle market companies nationwide. Rock Island makes majority and minority investments in leading middle-market manufacturing, distribution or service companies. Rock Island will invest capital for management buyouts of private companies or divisions of larger companies, generational changes of ownership, growth and expansion, or recapitalizations of family-owned or closely held businesses. www.rockislandcapital.com
Black Bay Energy Capital
Michael LeBourgeois, 504-586-3848
Advanced Industrial Devices
Russell Claybrook, 918-388-1604
ST. LOUIS--(BUSINESS WIRE)--Emerson (NYSE: EMR) and AspenTech today announced the successful closing of the combination of Emerson’s industrial software businesses – OSI Inc. and its Geological Simulation Software business – with AspenTech to create a global industrial software leader (“new AspenTech”). With the close of the transaction, Emerson owns 55% of new AspenTech on a fully diluted basis and AspenTech shareholders own the remaining 45%. Shares of new AspenTech will begin trading on NASDAQ under the ticker symbol “AZPN” (previously AspenTech’s ticker symbol) starting May 17, 2022.
“I am excited to announce the close of our transaction with AspenTech, which accelerates Emerson’s software strategy and creates an enhanced, high-performance, leading industrial software company with immediate scale and relevancy in a fast-paced, evolving market,” said Lal Karsanbhai, President and Chief Executive Officer of Emerson. “Today marks a significant milestone for Emerson and is a testament to our commitment to continue building a higher growth, more diversified portfolio. Together with new AspenTech, we expect to realize significant revenue and cost synergies, while having the platform and flexibility to strategically deploy capital for growth through continued investment and M&A.”
“We have now begun a new era at AspenTech, expanding our global leadership in industrial software by providing capabilities that support the entire lifecycle of complex operations across a wide range of industry verticals,” said Antonio Pietri, President and Chief Executive Officer of new AspenTech. “With a comprehensive software portfolio, an expanded global sales channel and an even stronger balance sheet reinforced by Emerson, new AspenTech will be uniquely positioned to help our customers address the dual challenge of meeting the increasing global demand for resources in a sustainable manner. As we move forward, I am confident that new AspenTech is poised for significant growth and continued success as we deliver value for our customers, employees and shareholders.”
Goldman Sachs & Co. LLC and Centerview Partners LLC served as financial advisors to Emerson, and Davis Polk & Wardwell LLP served as legal counsel. J.P. Morgan Securities LLC served as financial advisor to AspenTech, and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel.
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial and Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.
About Aspen Technology
Aspen Technology, Inc. (NASDAQ: AZPN) is a global software leader helping industries at the forefront of the world’s dual challenge meet the increasing demand for resources from a rapidly growing population in a profitable and sustainable manner. AspenTech solutions address complex environments where it is critical to optimize the asset design, operation and maintenance lifecycle. Through our unique combination of deep domain expertise and innovation, customers in capital-intensive industries can run their assets safer, greener, longer and faster to improve their operational excellence. To learn more, visit AspenTech.com.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impacts of the COVID-19 pandemic and the Russia-Ukraine conflict, as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
Investor contact: Colleen Mettler 314-553-2197
Media contact: Charlotte Boyd 952-994-8607
SEATTLE--(BUSINESS WIRE)--Ultra Safe Nuclear announces the addition of energy-industry veteran, Vladimir Novak, as Chief Commercial Officer. At Ultra Safe Nuclear, Vladimir will be responsible for setting corporate strategy and leading commercial growth across global markets. He will also oversee the company’s marketing efforts, educating industry leaders, partners, and consumers on the overall benefits of micro nuclear technologies and the unique advantages of the Ultra Safe Nuclear approach.
Vladimir will lead cross-functional teams driving corporate and commercial growth at Ultra Safe Nuclear. His efforts to develop an overall corporate vision and strategy will set the strategic course for the company, creating new business opportunities for Ultra Safe Nuclear’s innovative Micro Modular Reactor (MMR®), Fully Ceramic Micro-encapsulated (FCM®) fuel, and space-based nuclear power and propulsion technologies in both existing and new markets.
Vladimir joins Ultra Safe Nuclear from Chevron where he held senior positions for the past 14 years, as well as various leadership roles at GE in technology and business development. Over the past three years at Chevron, Vladimir initiated and led the company’s energy transition toward low-carbon fuels and next-gen vehicles. At Chevron, Vladimir received the EVP Transformation Leadership Award for his contributions to restructuring and focusing Chevron business units on clean-energy technologies.
“Ultra Safe Nuclear is uniquely positioned to provide reliable zero-carbon heat and power wherever it’s needed,” stated Vladimir. “We will explore all viable opportunities to deploy our innovative solution in regions around the world, and to industries where we deliver significant value.”
Vladimir received an Executive MBA from Rice University. He earned his PhD in Mechanical Engineering - Fusion Energy and MS in Mechanical Engineering from the Georgia Institute of Technology.
“Vladimir has a unique background that combines pragmatism with a vision of our energy future,” said Francesco Venneri, CEO of Ultra Safe Nuclear. “Vladimir’s zero-carbon goals are in complete sync with the mission of Ultra Safe Nuclear and will serve as inspiration to the teams he will lead.”
About Ultra Safe Nuclear Corporation
Ultra Safe Nuclear is the Seattle-based global leader in the deployment of micro reactors, and a strong vertical integrator of nuclear power technologies, entirely committed to bringing safe, commercially competitive, clean and reliable nuclear energy to markets throughout the world. The company adheres to strict inherent and intrinsic safety principles through technological innovation in fuels, materials and design: Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.
Ultra Safe Nuclear
Ray Vincenzo
1-206-290-4431
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https://usnc.com/
WYOMISSING, Pa.--(BUSINESS WIRE)--#RNG--UGI Energy Services, LLC (“UGIES”), a subsidiary of UGI Corporation (NYSE: UGI), today announced an agreement with MBL Bioenergy to fully fund the first set of renewable natural gas (“RNG”) projects currently under development in South Dakota. In total, the project will represent over $70 million of investment by MBL Bioenergy, of which 100% of the funds will be provided by UGIES. MBL Bioenergy is a joint venture partnership between UGIES, Sevana Bioenergy and a subsidiary of California Bioenergy (“CalBio”) with the sole purpose of developing RNG projects in South Dakota.
The first set of projects, known as a cluster, will be built at three farms located north of Sioux Falls, SD, and is expected to generate approximately 300 million cubic feet of RNG annually once completed in calendar year 2024. Dairy waste from the farms will be anaerobically digested and then piped to a central upgrading facility before it is delivered into the interstate natural gas system near Dell Rapids, SD. UGIES, through its wholly-owned subsidiary, GHI Energy, will be the exclusive marketer for MBL Bioenergy.
“This project sets a new standard for UGI in terms of scope and size and represents a huge milestone in UGI’s investments in, and expected earnings contribution from, RNG projects,” said Robert F. Beard, Executive Vice President - Natural Gas, Global Engineering, Construction & Procurement, UGI. “We are pleased to be partnering with industry-leading developers on this project that will substantially reduce greenhouse gas emissions, using dairy RNG as a vehicle fuel. We look forward to making additional investments in our MBL partnership as we advance the use of RNG as an environmentally responsible and clean energy solution.”
“This partnership with UGI is another positive step forward in expanding our carbon negative renewable natural gas business,” said N. Ross Buckenham, CEO of CalBio. “Our dairy methane capture and refining projects are delivering significant environmental benefits, improving economics for dairy farm partners and supplying a clean burning diesel replacement fuel. Through our subsidiary, Midwest Bioenergy LLC, this joint venture with UGIES, a new, powerful and committed strategic partner, anchors our dairy RNG expansion into the Midwest and will significantly expand our fuel production.”
“Sevana brought together exceptional partners to build this industry-leading RNG project. We are excited to strengthen our existing relationship with UGI to decarbonize transportation fuels through this and other projects. Sevana’s team of biogas experts is deploying state-of-the-art renewable energy technology in multiple RNG projects to form value-adding partnerships in agricultural communities,” said Steve Compton, President of Sevana. “We appreciate the opportunity to work closely with our partners and South Dakota farmers and communities to benefit the local economy and environment.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States, California, and the District of Columbia and internationally in France, Belgium, the Netherlands and the UK.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About CalBio
CalBio is a leading developer of dairy digesters for generating renewable vehicle fuel and electricity. Founded in 2006, CalBio works closely with local and state agencies, the California Air Resources Board, USDA, the dairy industry and individual dairy farmers to achieve methane reductions, protect local air and water quality, create jobs, and generate a new revenue stream for the diary family. CalBio is currently operating and/or developing over 100 dairy digester projects in California and now through its affiliates: Midwest Bio, Northwest Bio, and Southwest Bio, is developing projects across the country. For more information call CalBio or visit: www.calbioenergy.com.
About Sevana
Sevana Bioenergy develops, designs, owns and operates large-scale anaerobic digestion projects which produce renewable natural gas and organic based soil amendments. Using state-of-the-art technology, engineering, and design, we are advancing the future of biogas energy production in the United States. Biogas projects reduce waste, increase the use of renewable energy and reduce long-term greenhouse gas emissions. Our mission is to be a market leader in accelerating the production of renewable natural gas derived from anaerobic digestion facilities in North America. With an experienced team of national and international experts, we build value-add partnerships in agricultural communities by creating new markets for existing agricultural businesses. Our goal is to ensure that communities benefit and thrive through these partnerships while building renewable solutions to local waste and energy challenges. More information is available at www.sevanabioenergy.com.
UGI Investor Relations
610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
MADISON, Wis.--(BUSINESS WIRE)--The board of directors of MGE Energy, Inc. (Nasdaq: MGEE), today declared the regular quarterly dividend of $0.3875 per share on the outstanding shares of the company's common stock, payable June 15, 2022, to shareholders of record at the close of business June 1, 2022.
MGE Energy has increased its dividend annually for the past 46 years and has paid cash dividends for more than 110 years.
About MGE Energy
MGE Energy is a public utility holding company. Its principal subsidiary, Madison Gas and Electric (MGE), generates and distributes electricity to 159,000 customers in Dane County, Wis., and purchases and distributes natural gas to 169,000 customers in seven south-central and western Wisconsin counties.
Steve Schultz
Corporate Communications Manager
608-252-7219 | This email address is being protected from spambots. You need JavaScript enabled to view it.
LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced the appointment of Leon Kaunitz as senior vice president of product engineering.
Kaunitz will play a critical leadership role in the Company’s efforts to deliver advanced electrification products with full integration on commercial vehicles and other complex applications. His primary areas of responsibility will include management of mechanical design, thermal and stress validation, engineering processes across all product development efforts including research and development of thermal systems, and the management of Romeo Power’s electromechanical and structural design teams.
“We are thrilled that Leon has joined our team as the new senior vice president of product engineering,” said Romeo Power’s Chief Technology Officer AK Srouji, Ph.D. “He has been instrumental in leading new product design, engineering and manufacturing of numerous EV products from concept to completion, including successful production implementation and customer satisfaction. He brings an added breadth and depth of experience to Romeo Power, and he will be an asset to our entire organization, helping us achieve our commitment to move people and cargo emission free.”
Kaunitz, who is a mechanical engineer with a Master of Science degree in Road Vehicles and Advanced Technology, is highly experienced in EV applications for automotive and commercial vehicles, including advanced battery system concepts, innovation and efficiency. He brings a broad range of expertise in vehicle electrification to Romeo Power, including new product engineering and manufacturing, business development, research and development and customer satisfaction. Additionally, Kaunitz will supplement Romeo Power’s existing capabilities through his extensive experience supporting commercial vehicle design, integration of battery systems, e-Powertrain, Autonomous drive, and implementation of advanced and efficient EV technologies. He has developed and successfully implemented several new vehicles into production across U.S., Europe and Asia. Kaunitz has received numerous U.S. patents and is the author of several technical publications.
“Romeo Power offered me a unique opportunity to be part of the commercial and industrial transportation industry transformation,” said Kaunitz. “I look forward to supporting Romeo’s customers focused on environmental responsibility, safety, and reducing operating costs. I am excited to contribute to the organization as Romeo Power continues leading the transition to advanced electrification and a clean energy future across a variety of markets.”
About Romeo Power
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced battery electric products, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. To keep up with everything Romeo Power, please follow the Company on social media @romeopowerinc or visit romeopower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Romeo Power Inc.
For Investors:
Joe Caminiti or Ashley Gruenberg
Alpha IR Group
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312-445-2870
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