Winners demonstrate strong commitment to collaboration, quality and performance in supporting crucial semiconductor industry
BLOOMINGTON, Minn.--(BUSINESS WIRE)--SkyWater Technology (NASDAQ: SKYT), the trusted technology realization partner, today announced its first supplier excellence awards by recognizing top performers selected from among the company’s extensive list of approved suppliers. Award winners include: Toll Gas Company, Preferred Electric and Central McGowan as well as several individuals from these companies for their outstanding contributions.
The chosen suppliers exceeded a stringent set of quality performance criteria, played a significant role in supporting SkyWater initiatives and/or contributed to the company’s success by mitigating supply risks. Semiconductors are crucial to the functioning and success of almost every industry and are strategically important in the economy of the world.
According to SkyWater’s Executive VP of Operations John Spicer, “SkyWater’s mission is to co-create technology solutions that bring our customers’ ideas to life through an ecosystem of agile development, trusted IP security and quality manufacturing services. Achieving this mission depends largely on the quality of services our partners provide on a continuous basis. These strong partnerships are critical in helping ensure our facility runs at peak performance 24 hours a day, seven days a week, 365 days a year.”
Spicer continued, “We are pleased to recognize our supplier partners for their ongoing commitment to excellence and sincerely appreciate their contributions to the continued success of SkyWater and our valued customers.”
For more information on SkyWater’s commitment to quality excellence, please visit the company’s blog: “An Effective and Efficient Quality Management System Enables Innovation,” by Carmen Cecman, quality assurance engineering manager.
About SkyWater Technology
SkyWater (NASDAQ: SKYT) is a U.S. investor-owned semiconductor manufacturer and a DMEA-accredited Category 1A Trusted Foundry. SkyWater’s Technology as a ServiceSM model streamlines the path to production for customers with development services, volume production and heterogeneous integration solutions in its world-class U.S. facilities. This pioneering model enables innovators to co-create the next wave of technology with diverse categories including mixed-signal CMOS, ROICs, rad-hard ICs, power management, MEMS, superconducting ICs, photonics, carbon nanotubes and interposers. SkyWater serves growing markets including aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com.
SkyWater Technology Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements that are based on the Company’s current expectations or forecasts of future events, rather than past events and outcomes, and such statements are not guarantees of future performance. Forward-looking statements are subject to risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Key factors that could cause the Company’s actual results to be different than expected or anticipated include, but are not limited to, factors discussed in the “Risk Factors” section of its annual report on Form 10-K and quarterly reports on Form 10-Q, and in other documents that the Company files with the SEC, which are available at http://www.sec.gov. The Company assumes no obligation to update any forward-looking statements, which speak only as of the date of this press release.
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HOUSTON--(BUSINESS WIRE)--Phillips 66 (NYSE: PSX) announced today a realignment of its economic and governance interests in DCP Midstream, LP (DCP Midstream) (NYSE: DCP) and Gray Oak Pipeline, LLC (Gray Oak Pipeline) through the merger of existing joint ventures owned with Enbridge Inc. (Enbridge).
Phillips 66 increased its economic interest in DCP Midstream from 28.26% to 43.31% and will oversee and manage the joint venture’s interest in DCP Midstream, including the General Partner. Phillips 66’s economic interest in Gray Oak Pipeline decreased from 42.25% to 6.50%. Enbridge will oversee and manage the joint venture’s interest in Gray Oak Pipeline. As part of the transaction, Phillips 66 contributed approximately $400 million of cash. The transaction is expected to be accretive to earnings.
“We are growing our integrated NGL business to further strengthen our competitive position, while driving operational and commercial synergies,” said Mark Lashier, President and CEO of Phillips 66. “DCP is a valued business in our portfolio and enhances our existing value chain from wellhead to market, creating a platform for future NGL growth. Our focus remains on operating excellence and disciplined capital allocation to create sustainable value for our shareholders.”
DCP Midstream is a master limited partnership with a diversified portfolio of assets, engaged in the business of gathering, processing, transporting, storing and marketing natural gas, as well as transporting, fractionating and marketing natural gas liquids. Phillips 66 and Enbridge hold their DCP Midstream general and limited partner interests through DCP Midstream, LLC.
Gray Oak Holdings, LLC, a joint venture between Phillips 66 and Enbridge, has been merged with and into DCP Midstream, LLC. The joint venture continues to own 65% of the Gray Oak Pipeline crude oil system with capacity of 900,000 barrels per day of crude oil from the Permian and Eagle Ford basins in West Texas to the U.S. Gulf Coast.
The transaction was entered into and closed on August 17, 2022. BofA Securities, Inc. acted as exclusive financial advisor to Phillips 66. Bracewell LLP acted as legal counsel, and Gibson Dunn & Crutcher LLP acted as special tax counsel to Phillips 66. For further information on this transaction, refer to the Strategic Joint Venture Update available on the Phillips 66 Investors site, phillips66.com/investors.
CAUTIONARY STATEMENT FOR FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking statements. Words and phrases such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements contained in this release include, but are not limited to, statements regarding the expected benefits of the potential transaction to Phillips 66 and its shareholders and DCP Midstream and its unitholders, and the anticipated consummation of the proposed transaction and the timing thereof. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: uncertainties as to the timing to consummate the potential transaction; the effects of disruption to Phillips 66’s or DCP Midstream’s respective businesses; the effect of this communication on the price of Phillips 66’s shares or DCP Midstream’s common units; transaction costs; Phillips 66’s ability to achieve benefits from the proposed transaction; and the diversion of management’s time on transaction-related issues. Other factors that could cause actual results to differ from those in forward-looking statements include: the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our Midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; the inability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities, expropriation of assets, and other political, economic or diplomatic developments, including those caused by public health issues and international monetary conditions and exchange controls; changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels pricing, regulation or taxation, including exports; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
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Company executive will give a presentation on the maturing of the solar industry as fire safety codes become ubiquitous worldwide.
MIAMI--(BUSINESS WIRE)--Tigo Energy, Inc., the solar industry’s leading Flex MLPE (Module Level Power Electronics) supplier, today announced that it will demonstrate leadership with an educational session on solar rapid shutdown, monitoring, and optimization at the 2022 Energy Expo in Miami, Florida. At the show, Tigo representatives will also be available for solar installers to answer questions about the Company’s portfolio of Flex MLPE devices, including the Tigo RSS Transmitter with Pure Signal™ technology, designed to enhance powerline communication (PLC) signal quality, and the new line of 25-Amp Tigo TS4 MLPE products supporting the latest high-power and bifacial solar modules.
Tigo TS4 rapid shutdown products enable significant reductions in balance-of-system (BOS) and labor costs because of a reliable no-bolt frame mounting design requiring only 10 seconds to install and no need for additional ground wiring. When deployed with Tigo RSS Transmitters with Pure Signal, Tigo rapid shutdown technology enables a reduction in cable runs and reduces the impact of electromagnetic interference in large-scale solar systems. Tigo TS4 rapid shutdown devices are IEC and UL certified for global acceptance and comply with NEC 2017 and 2020 690.12 Rapid Shutdown specifications when installed with the Tigo RSS Transmitter and a UL PVRSS certified inverter or an inverter with a built-in Tigo-certified transmitter. Through the Tigo Enhanced program, Tigo customers and installers also have the freedom to choose the right equipment for their solar projects through simple, plug-and-play pairing with inverters from major suppliers.
“Our collaboration with Tigo continues to grow, and we are delighted to have access to high-quality rapid shutdown technology for our customers in Puerto Rico,” said Orlando R. Lopez de Victoria, president of Juapi Energy. “The combination of Tigo’s market expertise and reliable MLPE solutions help ensure rock-solid PLC communications while lowering material costs through optimized system design.”
Initially introduced in the United States through the National Electrical Code (NEC), rapid shutdown provides a safe way to stop or reduce the voltage and current from a photovoltaic (PV) array. The technology allows firefighters and other first responders–as well as maintenance personnel or homeowners–to perform their work safely by reducing electrical hazards.
“As one of the trade shows serving solar professionals throughout the Caribbean and Latin America, Energy Expo is a great opportunity for us to connect with installer partners such as Juapi Energy in this region,” said James Dillon, chief marketing officer at Tigo Energy. “With rapid shutdown requirements either in place or being implemented across Latin America, and solar installations continuing to grow, I look forward to sharing some of our expertise on this topic with the audience in Miami.”
Mr. Dillon will be speaking on rapid shutdown safety with a presentation entitled “Rooftop Solar Mature: Keeping Customers, Employees, and First Responders Safe” on Wednesday, August 24, from 2:00 to 2:30 PM in the Exhibit Hall. In the sessions, attendees can learn how to ensure safety for system owners, solar installers, and first responders.
To learn more about Tigo Flex MLPE solutions at Energy Expo from Tuesday, August 23, to Thursday, August 25, 2022, please reach out to the local sales team This email address is being protected from spambots. You need JavaScript enabled to view it..
About Tigo Energy
Tigo Energy, the worldwide leader in Flex MLPE (Module Level Power Electronics), designs innovative solar power conversion and storage products that provide customers more choice and flexibility. The Tigo TS4 platform increases solar production, decreases operating costs, and enhances safety. When combined with the Tigo Energy Intelligence (EI) platform, it delivers module, system, and fleet-level insights to maximize solar performance and minimize operating costs. The Tigo EI Residential Solar Solution, a flexible solar-plus-storage solution for home installations, rounds out the Company’s portfolio of solar energy technology. Tigo was founded in Silicon Valley in 2007 to accelerate the adoption of solar energy, and its global team supports customers whose systems reliably produce gigawatt hours of safe solar energy on seven continents. Find us online at www.tigoenergy.com.
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Caitlan Caviness
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HOUSTON--(BUSINESS WIRE)--Concurrent with Phillips 66’s (NYSE: PSX) announcement of the realignment of economic and governance interests in DCP Midstream, LP (DCP Midstream), Phillips 66 also announced today it has submitted a non-binding proposal to the board of directors of the general partner of DCP Midstream offering to acquire all publicly held common units of DCP Midstream for cash. Subject to negotiation and execution of a definitive agreement, Phillips 66 is proposing consideration of $34.75 for each outstanding publicly-held common unit of DCP Midstream as part of a transaction that would be structured as a merger of DCP Midstream with an indirect subsidiary of Phillips 66 with DCP Midstream as the surviving entity.
The proposed transaction is subject to the negotiation and execution of a definitive agreement and approval of such definitive agreement and transactions contemplated thereunder by the board of directors of the general partner of DCP Midstream and a conflicts committee thereof. The consummation of the proposed transaction would also be subject to customary closing conditions. There can be no assurance that any such approvals will be forthcoming, that a definitive agreement will be executed or that any transaction will be consummated.
Phillips 66 engaged Barclay's Capital Inc. as financial advisor and Bracewell LLP as legal counsel. For more information regarding Phillips 66’s previous announcement of the realignment of economic and governance interests in DCP Midstream, refer to the Strategic Joint Venture Update available on the Phillips 66 Investors site, phillips66.com/investors.
Additional Information and Where You Can Find It
This communication does not constitute a solicitation of any vote or approval with respect to the proposed transaction. This communication relates to a proposed business combination between Phillips 66 and DCP Midstream, LP (“DCP Midstream”). In connection with the proposed transaction, subject to further developments and if a transaction is agreed, Phillips 66 and DCP Midstream expect to file an information statement and other documents with the U.S. Securities and Exchange Commission (“SEC”). INVESTORS AND SECURITYHOLDERS OF PHILLIPS 66 AND DCP MIDSTREAM ARE ADVISED TO CAREFULLY READ ANY INFORMATION STATEMENT AND ANY OTHER DOCUMENTS THAT HAVE BEEN FILED OR MAY BE FILED WITH THE SEC (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED WITH THE TRANSACTION. Any definitive information statement, if and when available, will be sent to securityholders of DCP Midstream relating to the proposed transaction. Investors and securityholders may obtain a free copy of such documents and other relevant documents (if and when available) filed by Phillips 66 or DCP Midstream with the SEC from the SEC’s website at www.sec.gov. Securityholders and other interested parties will also be able to obtain, without charge, a copy of such documents and other relevant documents (if and when available) from Phillips 66’s website at www.phillips66.com under the “Investors” tab under the heading “SEC Filings” under the “Financial Information” sub-tab or from DCP Midstream’s website at www.dcpmidstream.com under the “Investors” tab and the “SEC Filings” sub-tab.
Participants in the Solicitation
Phillips 66, DCP Midstream and their respective directors, executive officers and certain other members of management may be deemed to be participants in the solicitation of consents in respect of the transaction. Information about these persons is set forth in Phillips 66’s proxy statement relating to its 2022 Annual Meeting of Stockholders, which was filed with the SEC on March 31, 2022; Phillips 66’s Annual Report on Form 10-K, which was filed with the SEC on February 18, 2022; certain of Phillips 66’s Current Reports on Form 8-K; DCP Midstream’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on February 18, 2022, and subsequent statements of changes in beneficial ownership on file with the SEC. Securityholders and investors may obtain additional information regarding the interests of such persons, which may be different than those of the respective companies’ securityholders generally, by reading the information statement and other relevant documents regarding the transaction (if and when available), which may be filed with the SEC.
CAUTIONARY STATEMENT FOR FORWARD-LOOKING STATEMENTS
This release contains certain forward-looking statements. Words and phrases such as “anticipated,” “estimated,” “expected,” “planned,” “scheduled,” “targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements included in this release are based on management’s expectations, estimates and projections as of the date they are made. These statements are not guarantees of future performance and you should not unduly rely on them as they involve certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Forward-looking statements contained in this release include, but are not limited to, statements regarding the expected benefits of the potential transaction to Phillips 66 and its shareholders and DCP Midstream and its unitholders, and the anticipated consummation of the proposed transaction and the timing thereof. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include: uncertainties as to the timing to consummate the potential transaction; the effects of disruption to Phillips 66’s or DCP Midstream’s respective businesses; the effect of this communication on the price of Phillips 66’s shares or DCP Midstream’s common units; transaction costs; Phillips 66’s ability to achieve benefits from the proposed transaction; and the diversion of management’s time on transaction-related issues. Other factors that could cause actual results to differ from those in forward-looking statements include: the effects of any widespread public health crisis and its negative impact on commercial activity and demand for refined petroleum products; the inability to timely obtain or maintain permits necessary for capital projects; changes to worldwide government policies relating to renewable fuels and greenhouse gas emissions that adversely affect programs like the renewable fuel standards program, low carbon fuel standards and tax credits for biofuels; fluctuations in NGL, crude oil, and natural gas prices, and petrochemical and refining margins; unexpected changes in costs for constructing, modifying or operating our facilities; unexpected difficulties in manufacturing, refining or transporting our products; the level and success of drilling and production volumes around our Midstream assets; risks and uncertainties with respect to the actions of actual or potential competitive suppliers and transporters of refined petroleum products, renewable fuels or specialty products; lack of, or disruptions in, adequate and reliable transportation for our NGL, crude oil, natural gas, and refined products; potential liability from litigation or for remedial actions, including removal and reclamation obligations under environmental regulations; failure to complete construction of capital projects on time and within budget; the inability to comply with governmental regulations or make capital expenditures to maintain compliance; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; potential disruption of our operations due to accidents, weather events, including as a result of climate change, terrorism or cyberattacks; general domestic and international economic and political developments including armed hostilities, expropriation of assets, and other political, economic or diplomatic developments, including those caused by public health issues and international monetary conditions and exchange controls; changes in governmental policies relating to NGL, crude oil, natural gas, refined petroleum products, or renewable fuels pricing, regulation or taxation, including exports; changes in estimates or projections used to assess fair value of intangible assets, goodwill and property and equipment and/or strategic decisions with respect to our asset portfolio that cause impairment charges; investments required, or reduced demand for products, as a result of environmental rules and regulations; changes in tax, environmental and other laws and regulations (including alternative energy mandates); political and societal concerns about climate change that could result in changes to our business or increase expenditures, including litigation-related expenses; the operation, financing and distribution decisions of equity affiliates we do not control; and other economic, business, competitive and/or regulatory factors affecting Phillips 66’s businesses generally as set forth in our filings with the Securities and Exchange Commission. Phillips 66 is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
About Phillips 66
Phillips 66 (NYSE: PSX) manufactures, transports and markets products that drive the global economy. The diversified energy company’s portfolio includes Midstream, Chemicals, Refining, and Marketing and Specialties businesses. Headquartered in Houston, Phillips 66 has employees around the globe who are committed to safely and reliably providing energy and improving lives while pursuing a lower-carbon future. For more information, visit phillips66.com or follow @Phillips66Co on LinkedIn or Twitter.
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New Inflation Reduction Act (IRA) signed by President Biden helps homeowners’ energy transition to electrification and provides tax credits and rebates; eligible products include SPAN smart electrical panel
SAN FRANCISCO--(BUSINESS WIRE)--SPAN, the leading innovator in smart home electrical panels, commends President Biden for signing the new Inflation Reduction Act into law, which will provide all homeowners with financial incentives to electrify their homes.
The historic legislation provides tax credits and rebates to millions of American homeowners to help them pay for clean energy equipment and energy efficient appliances – including smart home electrical panels, solar panels, batteries, heat pump water heaters, heat pumps for central air conditioning and heating, and more – that will reduce their energy costs, electrify their homes and make them more resilient, while also protecting the environment.
“The Inflation Reduction Act signed into law today provides Americans with the help they need to electrify their homes and transition to cleaner, lower cost home energy,” said SPAN founder and CEO Arch Rao. “As homeowners transition from less efficient fossil fuel appliances to better performing electric versions and more renewable energy, SPAN products are natural complementary additions. The traditional electrical panel creates barriers and severely limits home electrification. SPAN reduces hurdles like electric service upgrades and provides homeowners complete control of their expanding home energy ecosystem.”
Households that install a modern electric heat pump to replace their furnace, a heat pump for water heating, and convert to an electric vehicle and rooftop solar, will save $1,800 per year on energy bills, according to estimates from electrification think tank Rewiring America.
For SPAN customers, the High-Efficiency Electric Home Rebate Program (HEEHRA), Residential Clean Energy Credit, and Energy Efficient Home Improvement Credit (EEHIC) will provide incentives directly and indirectly that may reduce installed SPAN Panel costs.
All homeowners may be eligible for the increased 30 percent tax credit on a solar panel system and SPAN Panel or newly eligible standalone, grid-tied home battery and SPAN Panel. When SPAN is added to solar, homeowners get insights into their solar production in real-time and can control and monitor every circuit in their home. When SPAN is added to battery storage, homeowners get better whole home backup and 40% more backup time, with fully customizable circuit-level control to manage where and how backup power is used.
Electrification incentives in the Inflation Reduction Act for SPAN products range from 30 percent of installed costs, with tax credits ranging from $600 to $2,500, or up to $6,500 as a rebate for low-to-moderate income (LMI) households. Additional home electrification incentives include credits and rebates for heat pumps and space heating appliances (30% of installed costs up to $2,000 or up to $8,000 for LMI), heat pump water heaters (30% of installed costs up to $600 or up to $1,750 for LMI), induction cooktops (30% of installed costs up to $600 or up to $850 for LMI), and home insulation (30% of installed costs up to $600 or up to $1,600 for LMI). Annual limits and lifetime limits may apply. With SPAN’s smart panel load management capabilities, homeowners are provided the ability to electrify homes with less than 200-amp utility electrical service without the need for an often time-intensive, costly electrical service upgrade.
In reflection of the Inflation Reduction Act passing Biden’s approval, Rao comments, “This unprecedented law sends a clear signal to the nation and to the world that the United States leadership is serious about averting the climate crisis by prioritizing clean energy access for all Americans. SPAN will play a critical role in helping this legislation realize its full potential.”
For eligibility of Inflation Reduction Act incentives, please consult your accountant or tax professional.
About SPAN
SPAN reinvented the 100-year-old electrical panel and is developing products that enable electrification and simplify the adoption of clean energy including solar, batteries, and electric vehicles. SPAN Panel gives customers circuit-level management, real-time monitoring, and actionable energy insights through the SPAN Home app’s intuitive interface. Designed with hardware innovation and purpose-built with intelligent software, SPAN Panel and SPAN Drive electric vehicle charger are an elegant, efficient, and integrated solution for any home. Backed by leading investors in the clean energy space, SPAN aims to decarbonize by building products that remove barriers to electrification while providing a holistic approach to managing increasing demands on household energy. To learn more, visit www.span.io.
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Cassandra Sweet
Antenna for SPAN
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HOUSTON--(BUSINESS WIRE)--#dividend--Halliburton Company (NYSE: HAL) announced today that its board of directors has declared a 2022 third quarter dividend of twelve cents ($0.12) a share on the Company’s common stock payable on September 28, 2022, to shareholders of record at the close of business on September 7, 2022.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.
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DUBLIN--(BUSINESS WIRE)--The "Bioenergy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global bioenergy market reached a volume of 133.58 GW in 2021. Looking forward, the publisher expects the market to reach a volume of 212.10 GW by 2027, exhibiting a CAGR of 8.01% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Bioenergy is a form of renewable energy that is generated from organic matter, such as biomass, biogas, and biofuel. It is widely used to produce heat, fuel for transportation, electricity, and for heating and cooking applications. It is usually obtained from natural processes and sources, such as wind and sunlight. Bioenergy is eco-friendly as it is produced from feedstock, including solid waste, agricultural waste, and liquid biofuels.
As compared to conventional energy sources, biofuels offer better energy reliability, reduced landfills, improved biodegradability, minimized carbon footprint and enhanced air quality. It can also be replenished over relatively shorter durations, thereby reducing the energy bills and reliance on fossil fuels.
The rising prevalence of global warming due to growing industrial activities across the globe is creating a positive outlook for the market. Consumers are focusing on sustainable development by using bio-based fuels for power generation and biomass for developing low cost and energy effect construction materials.
In line with this, the increasing environmental consciousness among the masses regarding the adverse effects of pollution and greenhouse gas (GHG) emission is also favoring the market growth. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) and machine learning (ML) with connected devices for optimizing energy usage, balancing electricity supply and predicting the performance of biomass conversion, are providing an impetus to the market growth.
Additionally, the increasing product demand to reduce air pollution and emission of GHG due to the rising instances of respiratory diseases, such as pulmonary fibrosis, asthma and lung cancer, is augmenting the market growth. Other factors, including the increasing demand for biomass-based electricity generation and the implementation of various government initiatives to promote the adoption of renewable energy sources, are anticipated to drive the market further toward growth.
Key Questions Answered in This Report:
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Bioenergy Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product Type
7 Market Breakup by Feedstock
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/781kcm
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PARIS--(BUSINESS WIRE)--Technip Energies (Paris:TE) (ISIN:NL0014559478), in consortium with Subsea 7 and Samkang M&T has been selected by Corio Generation and TotalEnergies to perform a Front-End Engineering Design (FEED) for their Ulsan Gray Whale 3 Offshore Windfarm project, located offshore the East Coast of South Korea.
The FEED contract covers engineering for floater, mooring, and inter-array cable (IAC) in collaboration with a wind turbine supplier.
The design of the floating foundation will include Technip Energies’ in-house floater technology INO15™. With a capacity of 15 megawatts, INO15™ technology is a three columns semi-submersible floater which is well suited for large series production.
The Gray Whale 3, aiming to develop a 504MW floating offshore wind farm located around 60 to 70 kilometers from Onsan Port in Ulsan, is one of the three offshore wind projects with a total installed capacity of 1.5 gigawatts that Corio Generation and TotalEnergies are promoting off the coast of Ulsan.
Laure Mandrou, SVP Carbon Free Solutions at Technip Energies, commented: “We are glad to have been selected, together with Subsea 7 and Samkang, to perform the FEED of this important offshore wind project. While leveraging our in-house floater technology INO15TM and the complementarity of strong industrial players, we are excited to contribute to build the future of the floating offshore wind in South Korea fostering the global energy transition.”
Philippe Gleize, VP Floating Wind, at Subsea 7 said: “The Gray Whale 3 Offshore Windfarm project represents an exciting opportunity for Subsea 7 and furthers our involvement in the floating wind market in South Korea. We are very pleased to have been selected as a consortium partner and are looking forward to working collaboratively with our clients and all parties involved in maximising the wealth of knowledge, capability and expertise we collectively bring to deliver this FEED project.”
Song Moo-suk, chairman of SAMKANG M&T, commented; "The floating offshore wind project is a breakthrough alternative to solving the limitations of fixed projects and requires cutting-edge technology and construction capabilities. Based on the know-how accumulated through successful offshore wind substructure projects such as Taiwan and the UK, we will secure a firm position as a global leader."
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
About Subsea7
Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. www.Subsea7.com
About Samkang M&T
SAMKANG M&T is a world-renowned shipbuilding and offshore industry company that leads the production of offshore wind power substructures.
SAMKANG M&T has the world-class technology, production management capability and accumulated construction performance, and can manufacture and supply all types of offshore wind power substructures. Starting with the Taiwan market, it has entered overseas offshore wind power markets and is currently working hard to supply offshore wind infrastructure in Asia, Europe, and the United States.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains “forward-looking statements” as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of Technip Energies’ operations or operating results. Forward-looking statements are often identified by the words “believe,” “expect,” “anticipate,” “plan,” “intend,” “foresee,” “should,” “would,” “could,” “may,” “estimate,” “outlook,” and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These
forward-looking statements are based on Technip Energies’ current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on Technip Energies. While Technip Energies believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting Technip Energies will be those that Technip Energies anticipates.
All of Technip Energies’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond Technip Energies’ control) and assumptions that could cause actual results to differ materially from Technip Energies’ historical experience and Technip Energies’ present expectations or projections. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements.
For information regarding known material factors that could cause actual results to differ from projected results, please see Technip Energies’ risk factors set forth in Technip Energies’ filings with the U.S. Securities and Exchange Commission, which include amendment no. 4 to Technip Energies’ registration statement on Form F-1 filed on February 11, 2021.
Forward-looking statements involve inherent risks and uncertainties and speak only as of the date they are made. Technip Energies undertakes no duty to and will not necessarily update any of the forward-looking statements in light of new information or future events, except to the extent required by applicable law.
Investor relations
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Company ranks in top quartile for ESG practices among its peers
ORANGE, Conn.--(BUSINESS WIRE)--AVANGRID, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, has announced it has been included in the FTSE4Good Index Series. This is the company’s fifth consecutive year as a member of the Index and Iberdrola has been ranked on it since 2009. Created by the global index and data provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indexes are used by a wide variety of market participants to create and assess responsible investment funds and other products.
FTSE Russell evaluations are based on performance in areas such as Corporate Governance, Health & Safety, Anti-Corruption and Climate Change. Businesses included in the FTSE4Good Index Series meet a variety of environmental, social and governance criteria.
“AVANGRID is setting the pace for other utilities through our actions today and our visionary goals for the future,” said Pedro Azagra, CEO of AVANGRID. “Our inclusion on the FTSE4Good Index is a reaffirmation of this and of our commitment to building a cleaner, more sustainable energy future for all. We are very proud to be included on the FTSE4Good Index alongside Iberdrola as recognized sustainability leaders with strong ESG commitments.”
In its most recent evaluation, AVANGRID rated in the top quartile of its peers in FTSE Russell’s Utilities industry subsector for ESG Rating and earned FTSE’s highest score for governance, which includes evaluation of risk management, corporate governance and anti-corruption. Further, AVANGRID was rated more than 60% higher when compared with its US utility peers in labor standards; human rights and community; and pollution and resource issues.
ESG+F at AVANGRID
AVANGRID has a forward-looking ESG+F strategy that focuses on stewardship around the Environment, Society and its own Governance and Financial strength. This approach informs the company’s business decisions, helps further its sustainability commitments, and creates long-term, sustainable value for its shareholders.
AVANGRID’s sustainability strategy is organized into five key areas of focus:
“We take great pride in our ESG+F leadership, and we will continue to evolve and accelerate our commitments to address climate change and create better outcomes for society,” said Patricia Cosgel, Chief Financial Officer at AVANGRID. “We are at the forefront of the nation’s transformational change in generating and using energy as one of the cleanest energy companies in the United States with more than 90% emissions-free generating capacity. This recent recognition only further highlights our ongoing efforts to operate our business in a sustainable, ethical manner.”
In addition to being included on the FTSE4Good Index Series, AVANGRID has earned numerous recognitions of its ESG efforts, including being named among the world’s most sustainable companies by S&P Global for two consecutive years, being recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies and being named among the World’s Most Ethical Companies for four consecutive years.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.
With a workforce of nearly 40,000 and assets in excess of €141.7 billion, the company posted revenues of €39 billion and a net profit of over €3.9 billion in 2021. Across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.
MEDIA:
Sarah Warren
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585-794-9253
BURLINGTON, Ontario--(BUSINESS WIRE)--$ANRG #ANRG--Anaergia Inc. (“Anaergia” or the “Company”) (TSX:ANRG) today announced it has signed an agreement with European Energy A/S (“European Energy”). Under the terms of this agreement Anaergia is to supply European Energy with up to 60,000 tonnes per year of liquefied biogenic Carbon Dioxide (“CO2”) for a period of 10 years.
Biogenic carbon dioxide is carbon dioxide that is released during the decomposition of organic matter such as food waste. All Anaergia plants use organic waste material to produce biogas, which is composed of methane and carbon dioxide. Once this gas is processed, Anaergia produces pipeline quality Renewable Natural Gas and a clean stream of carbon dioxide that normally gets released to the atmosphere where it originally came from. Biogenic carbon dioxide that comes from organic material is considered a desirable raw material for low-carbon fuels as its use does not add new carbon to our atmosphere.
European Energy, a major multinational renewable wind and solar energy producer, will produce green e-methanol from this biogenic CO2. Under the terms of an agreement European Energy had previously entered into with A.P. Moller - Maersk, a global leader in integrated container logistics services, with operations in 130 countries, the green e-methanol will be used to power the first container vessel that A.P. Moller - Maersk is having built to operate on this carbon neutral fuel.
Anaergia will provide the liquified CO2 from the anaerobic digesters that will operate at its plant being built in Tønder, Denmark. Owing to this agreement with European Energy, Anaergia will build a state-of-the-art CO2 liquification system at the plant.
“The benefit for us is the ability to sell the biogenic CO2 from our plants that is produced when we convert organic materials to methane and CO2. By selling this CO2 instead of returning it to the atmosphere, our plants contribute to de-carbonizing hard-to-abate sectors, such as shipping, while becoming more profitable, as we turn this waste gas from our plants into a useful fuel,” said Andrew Benedek, Chairman and CEO of Anaergia.
“This is a great example of carbon capture and utilization (“CCU”), a critical step on the path towards net zero. We are looking forward to working with European Energy on this innovative endeavour, and to potentially working with them on other projects in the future as the need for green methanol rises globally,” added Dr. Benedek.
Knud Erik Andersen, co-founder and CEO of European Energy added: “We are thrilled to team up with Anaergia for the supply of biogenic CO2 to our Danish e-methanol plants. In Anaergia, we have found a partner that like European Energy is committed to fight climate change through new technologies that can make a real impact. We look forward to working with Anaergia, not only in Denmark, but also throughout the world.”
About European Energy
European Energy develops, finances, constructs and operates wind and solar farms as well as large-scale hydrogen and e-methanol plants. Based in Copenhagen, Denmark, the company has a strong track record as a renewable energy operator across its 24 countries of operation. Founded in 2004, European Energy has a development pipeline of more than 20 GW of renewable energy projects.
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.
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Company’s current expectations regarding future events, including statements relating to the ability of our technologies and projects to address about two-thirds of all point source methane emissions and our business plans, growth strategies and ESG initiatives. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Company’s annual information form dated March 28, 2022, for the fiscal year ended December 31, 2021. Actual results could differ materially from those projected herein. Anaergia does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.
For further information please see: www.anaergia.com
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HOUSTON--(BUSINESS WIRE)--$TELL #LNG--Tellurian Inc. (Tellurian) (NYSE American: TELL) today announced that its wholly owned subsidiary, Tellurian Production LLC (TPC), has closed the previously announced acquisition of certain assets in the Haynesville from privately held EnSight IV Energy Partners, LLC and EnSight Haynesville Partners, LLC. The cash consideration at closing was $125.5 million, revised from the announced $125 million due to preliminary purchase price adjustments. The consideration was funded with cash on hand.
Tellurian President and CEO Octávio Simões said, “This closing represents significant progress for Tellurian and our business model. By owning and operating upstream assets, a pipeline network and the Driftwood LNG terminal, Tellurian will have the ability to sell natural gas into domestic or international markets. This combination of assets represents a compelling value for our shareholders.”
John Howie, President of TPC, commented, “The EnSight acquisition is an excellent strategic and operational fit for Tellurian. The combination of our existing assets with this acquisition results in an acreage position of more than 20,000 acres and an inventory of more than 275 high return, de-risked drilling locations, most of which we can drill opportunistically for incremental free cash flow.”
Preliminary production outlook
With the closing of the EnSight acquisition, TPC has current production of approximately 150 million cubic feet/day (MMcfd) from assets in the Haynesville basin. In addition, TPC operates 11 wells currently being drilled or completed, all of which TPC expects to turn to sales before the end of the year. These new wells are expected to increase TPC’s production rate to approximately 250 MMcfd.
About Tellurian Inc.
Tellurian intends to create value for shareholders by building a low-cost, global natural gas business, profitably delivering natural gas to customers worldwide. 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”.
For more information, please visit www.tellurianinc.com. Follow us on Twitter at twitter.com/TellurianLNG
CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “assume,” “believe,” “budget,” “estimate,” “expect,” “forecast,” “initial,” “intend,” “may,” “plan,” “potential,” “project,” “proposed,” “should,” “will,” “would,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements herein relate to, among other things, the capacity, timing, and other aspects of the Driftwood LNG project, the benefits of Tellurian’s business model and the acquisition and pro forma wells, production, capital projects, locations and cash flows. 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 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
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Investors:
Matt Phillips
Vice President, Investor Relations
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HOUSTON--(BUSINESS WIRE)--NOV Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on September 30, 2022 to each stockholder of record on September 16, 2022.
About NOV
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
Visit www.nov.com for more information.
Blake McCarthy
Vice President, Corporate Development and Investor Relations
(713) 815-3535
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BURNABY, British Columbia--(BUSINESS WIRE)--#45Q--The following is an official statement about the US’s enactment of the Inflation Reduction Act, made by Claude Letourneau, President and CEO of leading Canadian carbon capture and removal solutions provider, Svante.
The US’s Inflation Reduction Act, signed into law on Tuesday by President Biden, is a monumental bill that truly demonstrates America’s commitment to climate action and a way to monetize CO2 emissions to develop a viable carbon management industry.
The US is the second largest emitter of CO2 after China, and the Inflation Reduction Act will play an essential role in helping the US and the world reach its net-zero emissions goals by 2050.
Atmospheric CO2 continues to rise to unprecedented levels due to human activities. We continue to emit more CO2 than our natural resources like oceans and trees can handle. This imbalance is cited to be approximately 18 gigatons per year. According to the US Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator, that’s equal to the CO2 emitted from driving 3.8 billion gasoline powered cars for a year, which amounts to a lot of CO2 that can’t be absorbed by our natural environment.
To fix this imbalance and reach net zero, the world needs several engineered solutions to avoid and manage carbon emissions on a global scale. This can be done through capturing carbon at the source of emission (point source) and through the removal of legacy carbon via direct air capture (DAC), as well as bio capture. Carbon management engineered solutions, like Svante’s, along with other tools in the toolbox such as renewables, electrification of vehicles, and hydrogen, are integral in the fight against climate change. According to the recent IRENA report, around 37 gigatons per year of CO2 emissions need to be mitigated which will cost a total of $120 trillion US dollars. Carbon capture and removal represents 2% of the total cost and will deliver 20% of the emissions mitigations benefit … it’s the ‘best bang for your buck’.
Carbon is deeply embedded into the global economy. CO2 is emitted when making steel, cement, hydrogen, energy, and important infrastructure. These products that we all enjoy are created with CO2 emissions, and it is impossible, today, to halt all production of these commodities. Because of this, and because we must act quickly, the world needs to capture CO2 from industrial emissions and safely store it underground or use it to make other products.
Without carbon capture, utilization and storage (CCUS), the world will not reach net zero by midcentury, and legislation such as the US’s 45Q Tax Credit enhancements will help propel our industry forward, enabling us to rapidly deploy CCUS projects at gigaton scale.
To effectively capture the CO2 currently being emitted into the atmosphere, the world needs to have 10,000 capture plants running over the next 30 years, or two plants a week in the next decade, at a cost of approximately $250 million per plant.
The cost of capturing CO2 today is approximately $50/tonne for point source capture and $350/tonne for direct air capture. The storage portion, in which a storage company transports and stores CO2 safely underground, costs around $10-$30/tonne, depending on the provider. This brings the cost of carbon capture and storage to around $70 to $80 per tonne — that’s $20-$30 more than what 45Q was originally offering. The US’s Inflation Reduction Act, signed into law this week by President Biden, enhanced 45Q, offering companies $85/tonne for point source and $180/tonne for DAC. This is impactful and will drive the investment required to bring mass commercial scale projects to financial investment decision (FID).
About Svante
Svante is an original equipment manufacturer and technology provider of carbon capture and removal solutions that offers companies in heavy-emitting industries a commercially viable way to capture and remove carbon emissions. The carbon we capture is then concentrated to pipeline grade at >95% purity, which can be safely transported and stored underground or used for further industrial use in a closed loop. For more information about Svante, visit www.svanteinc.com.
Colleen Nitta
Director of Marketing & Communications
Svante
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604-970-2813
Innovative financing solution enhances value of sustainability upgrades for portfolio owners and tenants
SAN DIEGO & ATLANTA--(BUSINESS WIRE)--Gables Residential, a leader in the management and development of multifamily communities, has signed agreements with Luminia to deliver its highly flexible financing solutions for the installation of multiple sustainability improvements across several apartment communities in California. With a focus on achieving environmental sustainability goals, Gables will leverage Luminia’s custom financial structures to install solar carports and electric vehicle (EV) charging stations that reduce operating costs while creating new revenue streams.
Luminia’s financing solutions support a range of energy efficiency upgrades beyond solar and EV charging infrastructure, such as energy storage, reroofing, HVAC and lighting upgrades for most commercial real estate properties.
“Gables Residential has, for many years, focused on being an industry leader in sustainability efforts at our communities. Adding solar power generation is the next step for the company to increase our use of renewable energy in a way that makes economic sense for our residents and investors,” said Sue Ansel, President and CEO of Gables. “Luminia was extremely supportive in working with us to customize financing solutions that accommodated our needs and created value. The projects we have committed to with Luminia are creative and bring greater financial benefits than we initially envisioned.”
Luminia analyzed Gables’ portfolio to identify, prioritize and select the initial group of communities to install solar and EV chargers that will enhance Gables’ performance. By utilizing Luminia’s unique solution, Gables maximizes the solar system’s environmental benefit by not only offsetting energy usage in common areas such as the office, pool and clubhouse, but also offsetting tenant usage.
The solar system allows Gables to provide additional resident benefits, such as solar opt-in programs in partnership with Ivy Energy – which allow residents to receive solar power from Gables at a cost less than utility electricity – while amenities like covered carport parking and EV charging increase overall resident satisfaction and retention. The solar system installation increases Gables’ property value in a competitive marketplace and enhances their environmental efforts.
“Working hand-in-hand with Gables to develop a customized solution based on their needs as a real estate investment trust, we were able to create a blueprint that could apply to communities across Gables’ nationwide portfolio in the future,” said Jim Kelly, co-managing partner of Luminia. “Through flexible financing, we are turning standard sustainability and energy efficiency upgrades into attractive, revenue-generating assets for commercial portfolio owners.”
To learn how Luminia's suite of financing solutions makes it simple and profitable for any commercial real estate portfolio owner to increase property value and support tenant retention through energy efficiency and sustainability upgrades, visit luminia.io.
About Gables Residential
Gables Residential is an award-winning, vertically integrated, real estate company and privately held REIT specializing in the development, construction, ownership, acquisition, financing, and management of multifamily and mixed-use communities. Gables Residential owns, develops, and manages communities in high-growth U.S. markets such as Atlanta, Austin, Boston, Dallas, Denver, Houston, South Florida, Southern California and metropolitan Washington, D.C. Gables also provides third party management services in the New York, Baltimore, Frederick, Tampa, Phoenix, Seattle, Charlotte, Central and North Florida markets.
Gables manages approximately 30,000 apartment homes and approximately 225,000 square feet of retail space and has received national recognition for excellence in development, construction, management, sales, marketing, training, and benefits. These achievements reflect the impact of Gables’ experienced and dedicated team members, its superior knowledge of the markets served, and its expertise in development and management. For additional information about the company and its real estate portfolio and services, visit http://www.gables.com.
About Luminia
Founded in 2019, California-based Luminia provides unique financing and technology platform solutions that enable the deployment of commercial property sustainability improvements at scale. Through novel financing options and artificial intelligence-driven commercial real estate portfolio analysis, Luminia empowers commercial and industrial property owners to implement holistic clean energy and energy efficiency upgrades without barriers. Luminia’s solutions are purpose built to offer the greatest potential economic benefit and advance a property’s ability to meet ESG requirements. For more information, visit luminia.io.
Christine Bennett for Luminia
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Gigi Giannoni for Gables Residential
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MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today declared a quarterly dividend on its common stock of 48.75 cents per share. The dividends are payable October 20, 2022, to shareholders of record on September 15, 2022.
Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.
This information is not given in connection with any sale or offer for sale or offer to buy any securities.
Statements in this press release regarding Xcel Energy’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.
Xcel Energy, Minneapolis
Shareholder Services
Darin Norman (612) 337-2310
or
Paul Johnson, Vice President, Treasurer & Investor Relations (612) 215-4535
or
Xcel Energy Media Relations Representatives (612) 215-5300
HIGHLIGHTS
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (the “Company” or “NOG”) today announced that it has entered into an agreement to acquire properties in the Midland Basin.
MIDLAND BASIN ACQUISITION
NOG has entered into a definitive agreement to acquire non-operated interests in the Midland Basin for a purchase price of $110 million in cash, subject to typical closing adjustments. NOG expects to fund the acquisition with cash on hand, operating free cash flow and borrowings under NOG’s revolving credit facility.
At closing, production on the assets is expected to be greater than 1,600 Boe per day (2-stream, ~87% oil) and NOG expects average production of over 1,800 Boe per day over the next twelve months post-closing (2-stream, ~86% oil). NOG expects less than $5 million of capital expenditures to be incurred post-closing in 2022 and does not anticipate revising 2022 capital expenditure guidance for the acquisition. These high-quality properties have operating costs lower than NOG’s corporate average.
The acquired assets are located in Howard County, Texas and include approximately 1,600 acres, 6.4 net producing wells, 1.6 net wells-in-process and approximately 8 net undeveloped locations. Substantially all of the assets are operated by SM Energy.
The effective date for the transaction is August 1, 2022, and NOG expects to close the transaction in October 2022. The obligations of the parties to complete the transactions contemplated by the purchase agreement are subject to the satisfaction or waiver of customary closing conditions.
MANAGEMENT COMMENTS
“We continue to focus on a balanced approach to growing our enterprise, with a focus on quality and low-breakeven economics,” commented Nick O’Grady, NOG’s Chief Executive Officer. “NOG continues to build a stronger, more diversified company built to drive higher shareholder returns for the long term.”
“In our second meaningful bolt-on acquisition of 2022, we have found a high-quality prospect that continues to grow our Midland Basin position,” commented Adam Dirlam, NOG’s President. “Anchored by highly economic inventory, high oil cuts, and a strong operator, this transaction helps continue to build out the Permian Basin as an area of growth for NOG.”
ADVISORS
Kirkland & Ellis LLP is serving as legal advisor to NOG.
ABOUT NORTHERN OIL AND GAS
NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about NOG can be found at www.northernoil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding NOG’s financial position, common stock dividends, business strategy, plans and objectives of management for future operations, industry conditions, capital expenditures, production, cash flow, hedging and other matters are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “guidance,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future sales, market size, collaborations, and trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on NOG's properties and properties pending acquisition, the effects of the COVID-19 pandemic and related economic slowdown, NOG's ability to acquire additional development opportunities, integration and benefits of property acquisitions, or the effects of such acquisitions on Northern’s cash position and levels of indebtedness, changes in NOG's reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which NOG conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, NOG's ability to consummate any pending acquisition transactions (including the transactions described herein), other risks and uncertainties related to the closing of pending acquisition transactions (including the transactions described herein), NOG's ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG's operations, products, services and prices.
NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond NOG's control. NOG does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
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Non-hydrocarbon sourced helium production from new facility contracted on long-term agreement with Air Liquide
CALGARY, Alberta--(BUSINESS WIRE)--#NAH--North American Helium Inc. (“NAH” or the “Company”) today announced it has successfully brought its third helium purification facility on production in May with zero operational issues. This facility is located near the Village of Mankota in southwest Saskatchewan.
Commenting on this operational milestone, Mr. Marlon McDougall, President and COO stated, “As NAH continues to execute on its operating and development plans, we are now realizing our goal of creating a new global helium production hub in Saskatchewan. We have been diligent in our approach to obtaining a deep understanding of the helium reservoir and trapping systems on our substantial land position and remain firmly on track to double helium production in 2022. North American Helium continues to increase its level of investment in Saskatchewan as we advance exploration and development projects slated for 2023.” Mr. McDougall continued:
“This is an exciting year for us, and we plan to add two additional helium production facilities before year-end 2022, while also doubling the capacity of one of our existing production plants. Our company remains committed to being a trusted partner for the supply of reliable, sustainably produced helium in North America.”
NON-HYDROCARBON SOURCED HELIUM CONTRACTED ON LONG-TERM AGREEMENT WITH AIR LIQUIDE
Air Liquide is part of the growing Saskatchewan helium story. This is the second successful NAH project in which the Group is a major off-taker, the first being the Battle Creek plant, Canada’s largest helium purification facility. Both projects were completed on time and at projected capacity, providing certainty in the helium supply chain for its customers.
“Air Liquide is continuously looking at ways to increase the availability of helium for its customers and is pleased to be working with NAH again,” commented Mr. Rich Brook, President, Air Liquide Helium America.
Commenting on the increased helium production volumes now on long-term contract, Mr. Nicholas Snyder, Chairman and CEO of NAH stated, “We are pleased to once again be working with Air Liquide as the primary off-taker of the helium production from our new Mankota facility. We value having a leader in the industrial gas business as a partner and appreciate the financial stability the long-term off-take agreement brings to support our strategic growth objectives.”
GROWING HELIUM PRODUCTION SUPPORTS SASKATCHEWAN’S HELIUM ACTION PLAN
The Honourable Jim Reiter, MLA, Minister of Energy and Resources for Saskatchewan, said, “North American Helium’s announcement is more great news for Saskatchewan and puts us another step closer to achieving our Helium Action Plan goals. The Government of Saskatchewan supports NAH in their efforts to increase production and position Saskatchewan as a leading global producer and supplier of helium.”
ABOUT NORTH AMERICAN HELIUM INC.
Founded in 2013, NAH has been the most active helium driller in Saskatchewan with over 40 wells drilled to date. The Company plans to have a continuous capital investment program, which will include acquisition of additional third-party and proprietary seismic data, drilling 15-20 wells per year, and concurrently building additional helium processing facilities as new fields are developed.
Over the past several years, NAH has discovered eight new helium fields and acquired rights to explore for and produce helium on a land base of over 8.5 million contiguous acres, primarily in Saskatchewan, Canada as well as the states of Utah, Arizona and Montana, USA. The Company currently sells helium on long term contracts to several of the largest industrial gas companies. NAH owns and operates multiple helium purification facilities including Canada’s largest facility (Battle Creek), providing reliable, long-term North American supply of this scarce resource to meet growing demand. For more information please visit: https://nahelium.com.
ABOUT HELIUM
Helium is an inert gas produced by the decay of uranium and thorium that can be trapped in underground reservoirs proximal to the source. Its unique physical properties make it vital for several high technology applications where there is often no substitute. Helium's low boiling point and non-reactive nature make it vital for the pressurization and purging of liquid fuels in rockets for space exploration and satellite infrastructure. Helium is also required for semiconductor manufacturing, MRI machines and certain welding applications due to its high heat capacity. A well-known but minor use is as a lifting gas in balloons and airships.
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdictions in which such offer, solicitation or sale would be unlawful. Any offering made will be pursuant to available prospectus exemptions and restricted to persons to whom the securities may be sold in accordance with the laws of such jurisdictions, and by persons permitted to sell the securities in accordance with the laws of such jurisdictions.
Not for dissemination in the United States of America.
Legal Notice Regarding Forward Looking Statements: This news release contains "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements are indicated expectations or intentions. Forward-looking statements in this news release include statements regarding our operating and development plans, our plans for our intended production facilities and production levels, and our plans for the sale of produced helium. Factors that could cause actual results to be materially different include but are not limited to the following: changes to our operating, development, production and sales plans, changes to sales contracts and that the management or board of NAH may use its revenue or other funds for other purposes. Investors are cautioned against placing undue reliance on forward-looking statements. It is not our policy to update forward looking statements.
FOR INVESTOR AND MEDIA INQUIRIES:
Brad Borggard, VP Business Development & Investor Relations
North American Helium Inc.
Clayton Paradis, Vice President
Incite Capital Markets
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State-Of-The-Art Energy Solution Will Provide Reliable Cost-Effective Power for Facility
LOS ANGELES--(BUSINESS WIRE)--$CGRN #Biogas--Capstone Green Energy Corporation (NASDAQ: CGRN) continues to expand into the growing industrial grow house industry with a newly secured order for five C1000 Signature Series microturbines in upstate New York. The units will be deployed in two phases, with the first two megawatts (MWs) being commissioned at the end of 2022 and the remaining three MWs commissioned in early 2023. The project marks the largest single order for Capstone microturbines in the expanding industrial grow house industry and when finished, will become the third largest Capstone microturbine installation worldwide.
The project was secured by RSP Systems, Capstone's exclusive New York, Connecticut, and Ohio distributor, and E-Finity Distributed Generation, the exclusive distributor for the Mid-Atlantic, Southeastern United States, and the Caribbean will allow the facility to generate reliable and cost-effective power on-site independent of the utility grid. In addition, Capstone's low-emission microturbine technology meets New York's strict greenhouse gas emissions requirements.
Industrial cultivation and processing are energy-intensive operations, and utilities have struggled to provide adequate and resilient power to support growth. This problem is compounded for facilities in remote areas where infrastructure is not in place to support energy demand for grow operations. The five-megawatt microturbine solution will operate in stand-alone mode, allowing operators to avoid the vulnerabilities of a traditional electric grid by generating power on-site at the source.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22 it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding growth and liquidity expectations and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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--Research Shows Reputational Risk and Cost Reduction are Top Motivators for Study Respondents in Their Pursuit to Decarbonize--
HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc., in collaboration with Smart Energy Decisions, today published new research that shows reputational risk and cost reduction as top motivators for organizations when considering decarbonization solutions. The 2022 State of Decarbonization Study provides insight into the many factors that influence businesses as they look to pursue net-zero.
When asked what drives their decarbonization journey, 65 percent1 of respondents noted reputational risk as one of their top considerations, followed closely by cost reduction at nearly 60 percent. Regulatory and legal risks rounded out the top three at 47 percent. The study demonstrated that many organizations are now making serious environmental commitments, with 85 percent of respondents having established emissions reduction goals and nearly half having gone a step further by making net-zero commitments. While achieving targets can be a challenge, an experienced energy partner can help facilitate meaningful progress.
The study received responses from energy leaders at more than 170 organizations regarding their challenges and opportunities associated with reducing emissions.
To read the entire State of Decarbonization Study click here.
About NRG
At NRG, we’re bringing the power of energy to people and organizations by putting customers at the center of everything we do. We generate electricity and provide energy solutions and natural gas to millions of customers through our diverse portfolio of retail brands. A Fortune 500 company, operating in the United States and Canada, NRG delivers innovative solutions while advocating for competitive energy markets and customer choice, working towards a sustainable energy future. More information is available at www.nrg.com. Connect with NRG on Facebook, LinkedIn and follow us on Twitter @nrgenergy.
About Smart Energy Decisions
Smart Energy Decisions is the leading information and research platform serving large electric power users. We produce news, analysis, research and events designed to help our community make smart energy decisions. We are a catalyst for change in support of the energy transition taking place in electric power markets. Our mission is to help large electric power users improve their profitability and reduce their carbon emissions by adopting best practices in energy efficiency and renewable energy sourcing.
1Participants were allowed to select multiple options
Media:
Laura Avant
713.537.5437
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Investors:
Kevin L. Cole, CFA
609.524.4526
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New Law Will Extended, Expand and Increase Federal Clean Energy Investment Tax Credit to New Technologies, Fuels, and Energy Users
LOS ANGELES--(BUSINESS WIRE)--$CGRN #Biden--Capstone Green Energy Corporation (NASDAQ: CGRN) praises the extension, expansion and increases of the federal Investment Tax Credit (ITC) and Production Tax Credit (PTC) for clean energy technologies in the Inflation Reduction Act recently signed into law by President Biden, which Capstone believes will directly benefit the company and its customers. The legislation increases the tax credit available to microturbine combined heat and power (CHP) projects from 10% to 30% for projects that are placed in service or safe harbored by the end of 2024, and it reinstates the tax credit for biogas energy projects. A bonus credit of 10% is available for projects that meet domestic content requirements or are in energy communities. It also adds new covered technologies, including energy storage, microgrid controllers, and hydrogen production facilities. Capstone's expanded business strategy includes many of these new technologies like energy storage, microgrid controllers, and hydrogen. Capstone microturbines are produced in the U.S. at our Van Nuys, CA manufacturing facility.
This groundbreaking climate policy will support the transition to zero emissions CHP while encouraging domestic manufacturing and the revitalization of communities currently reliant on fossil energy plants and jobs. Starting in 2025, the structure of the energy tax credit changes to a technology-neutral credit for zero-emissions facilities, which can be elected as either an ITC or a PTC. Stretching the availability of the technology-neutral credits through 2035 or sooner if electric sector greenhouse gas emissions reduction targets are met provides certainty for longer-term development than past short-term extensions. New labor requirements for prevailing wage and employment of apprentices will be developed by the IRS and applied to ITC and PTC taxpayers, but projects under 1 MW or projects that start construction before 60 days after this guidance is issued will be exempt.
Tax-exempt entities like non-profit hospitals and municipal entities will also be able to take advantage of these tax credits through the direct pay and transferability options but must meet domestic content requirements. New credits were also added for hydrogen production determined by kilograms of clean hydrogen produced per year and advanced energy manufacturing, which may be used, for example, to re-equip an industrial facility in a way that reduced greenhouse gas emissions by 20% or more.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expected benefits of the ITC and PTC and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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