SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, October 29, 2021, at 11:00 a.m. ET (8:00 a.m. PT).
Conference Call Information:
Date: Friday, October 29, 2021
Time: 11:00 a.m. ET / 8:00 a.m. PT
Dial-in # (Listen-only mode): 929-477-0308 or 800-289-0449
Conference ID #: 8912677
Speakers:
Mark Nelson – Executive Vice President, Downstream & Chemicals
Pierre Breber – Vice President and Chief Financial Officer
Roderick Green – General Manager, Investor Relations
To access the live webcast, visit www.chevron.com.
The meeting replay will also be available on the company website under the “Investors” section.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. To advance a lower carbon future, we are focused on lowering the carbon intensity in our operations and growing our lower carbon businesses. More information about Chevron is available at www.chevron.com.
Sean Comey +1 (925) 842-5509
TULSA, Okla.--(BUSINESS WIRE)--Helmerich & Payne, Inc. (NYSE:HP) (“H&P” or the “Company”) announced today that it has successfully completed its previously announced private offering (the “Offering”) of $550 million aggregate principal amount of 2.900% senior notes due 2031 (the “Notes”).
President and CEO John Lindsay commented, “This offering exemplifies our ability to plan for the long term and to strategically eliminate certain potential risks we may encounter in the future. We are taking advantage of the Company’s robust financial profile and the historically low interest rate environment to significantly extend our debt maturity at a lower rate. Due to our strong balance sheet, we are able to capitalize on the current market opportunity to lock in low cost capital that will allow us to continue to grow our domestic market share through expansion of new commercial models and digital technology solutions. Concurrently, we will continue our efforts to expand our international business while using our core competencies and resources to develop additional capabilities and opportunities.”
The Company intends to use the net proceeds from the Offering, plus cash on hand, to redeem and retire all of the Company’s outstanding 4.65% Senior Notes due 2025 (the “2025 Notes”). As of the date of this press release, $487.1 million aggregate principal amount of the 2025 Notes are outstanding.
This press release does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Offering is being made solely pursuant to a private offering circular and only to such persons and in such jurisdictions as are permitted under applicable law.
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies.
Forward-Looking Statements
This release includes “forward-looking statements” within the meaning of the Securities Act and the Securities Exchange Act of 1934, as amended, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the intended use of proceeds or other aspects of the Offering and the Notes, and the redemption of the 2025 Notes, are forward-looking statements. For information regarding risks and uncertainties associated with the Company’s business, please refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s filings with the Securities and Exchange Commission, including but not limited to its annual report on Form 10‑K, quarterly reports on Form 10‑Q and current reports on Form 8-K. As a result of these factors, the Company’s actual results may differ materially from those indicated or implied by such forward-looking statements. We undertake no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations or otherwise, except as required by law.
IR Contact:
Dave Wilson, Vice President of Investor Relations
918-588-5190
This email address is being protected from spambots. You need JavaScript enabled to view it.
High-temperature “Superconductor” technology designed to enhance grid resiliency for customers
CHICAGO--(BUSINESS WIRE)--The U.S. Department of Homeland Security (DHS) and the U.S. Department of Energy (DOE) participated today in an event hosted by ComEd to spotlight technology that will enhance grid reliability for ComEd customers experiencing more frequent and severe storms due to climate change and reduce the impact of cyber and physical threats.
Developed by the American Superconductor Company (AMSC) and funded in part by the DHS Science and Technology Directorate, the Resilient Electric Grid (REG) system uses a high-temperature superconductor wire that can carry 200 times the voltage of standard copper wire. This requires a refrigeration process that cools liquid nitrogen to minus 337 degrees Fahrenheit. The system injects the liquid nitrogen into the wire assembly to keep it cold enough to achieve superconductivity, which eliminates electrical resistance and energy loss. ComEd is the first utility in the nation to install the AMSC REG system into the grid.
“ComEd is providing our customers record levels of reliability, but we need to embrace innovation to continue to enhance the power grid and deliver the results families and businesses depend on,” said Terence R. Donnelly, president and COO, ComEd. “We are grateful to DHS for its investment in this technology, and we are proud to be the first utility in the nation to permanently install it into the grid.”
“Today’s conference highlights how investments in science and technology can pave the way for new capabilities and new innovation,” said Alexander Joves, regional director, DHS Cybersecurity and Infrastructure Security Agency. “We all know how critical the grid is to our everyday life, our economy, our national security and our well-being. Strengthening the security and resilience of critical infrastructure is a major mission of DHS.”
ComEd will test and monitor the superconductor-based system over the coming year and evaluate connecting it to multiple substations, which would create a back-up system to keep power flowing in the event of a major power grid interruption.
Daniel P. McGahn, chairman, president and CEO, AMSC, believes the REG system enables electric utilities to think about the grid more like other networked infrastructure. “Traditional grid design has called for isolating substations, which enables utilities to protect their systems but that prevents them from being able to reroute power from one substation to another,” he said. “The REG system allows for substations to be interconnected, creating the flexibility to provide a pathway to move power from one substation to another. Utilities that have deployed innovative technology, like ComEd, are well positioned to benefit from the REG system and enhance service to customers.”
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Superconductor B-Roll Package V2 9-29-2021.mp4 (vimeo.com)
ComEd Media Relations
David O’Dowd
(312) 394-3500
TOKYO--(BUSINESS WIRE)--UACJ Corporation (HQ: Chiyoda-ku, Tokyo; President and Representative Director: Miyuki Ishihara)(TOKYO:5741) announced today that one of the world’s largest rooftop photovoltaic systems1 will be installed at Rayong Works, the manufacturing facility operated by its wholly owned subsidiary, UACJ (Thailand) Co., Ltd., based on an agreement concluded on August 30, 2021, with Kansai Energy Solutions (Thailand) Co., Ltd., a wholly owned subsidiary of Kansai Electric Power Co., Inc. (HQ: Kita-ku, Osaka; President: Takashi Morimoto).
Based on the agreement, Kansai Energy Solutions (Thailand) will install about 40,000 photovoltaic panels with a combined capacity of 18 megawatts on the rooftops of Rayong Works, and UACJ (Thailand) will consume all of the electricity generated by the system over a 20-year period. Through the use of this system, UACJ (Thailand) expects a reduction in CO2 emissions from Rayong Works of about 14,000 tons per year2, equivalent to approximately 6% of the facility’s annual CO2 emissions.
The UACJ Group regards efforts to combat climate change as an important task in its long-term management vision, UACJ Vision 2030. The Group plans to continue taking proactive steps towards making the world more sustainable while reducing its environmental load.
Notes:
1. According to Kansai Electric Power’s research findings as of June 8, 2021
2. Calculated using the CO2 emission coefficient adopted by the Thai government: 0.566 kilograms of CO2 per kilowatt-hour
Details of the planned photovoltaic system
Total capacity: 18 megawatts
Estimated power generation: Approx. 25,000 megawatt-hours per year
Estimated CO2 reduction: Approx. 14,000 tons of CO2 emissions per year
Rooftop space covered by the solar panels: Approx. 87,000 square meters
Overview of the companies
Company name: UACJ Corporation
Establishment: October 2013 (through the merger of Furukawa-Sky Aluminum Corporation and Sumitomo Light Metal Industries Co., Ltd.)
Representative: President and Representative Director Miyuki Ishihara
Head office address: 1-7-2 Otemachi, Chiyoda-ku, Tokyo, Japan
Main businesses: Manufacture and sale of flat-rolled, casted, forged, and precision-machined products made of aluminum and other nonferrous metals as well as their alloys
Company name: UACJ (Thailand) Co., Ltd.
Establishment: February 2010
Representative: President Hironori Tsuchiya
Rayong Works address: Amata City Industrial Estate 7/352 Moo 6, Tambol Mabyangporn, Amphur Pluakdaeng, Rayong Province 21140, Thailand
Main businesses: Manufacture and sale of flat-rolled aluminum for can stock, automotive heat exchangers, electrical and electronic components, and other products
Company name: Kansai Electric Power Co., Inc.
Establishment: May 1951
Representative: President Takashi Morimoto
Head office address: 3-6-16 Nakanoshima, Kita-ku, Osaka-shi, Osaka, Japan
Main businesses: Supply of electricity, heat, and gas; provision of telecommunications services
Company name: Kansai Energy Solutions (Thailand) Co., Ltd.
Establishment: August 2018
Representative: Managing Director Katsuhisa Yamamoto
Head office address: 25 Soi Chidlom, Ploenchit Road, Lumpini, Patumwan, Bangkok 10330, Thailand
Main businesses: Design, procurement, construction, and maintenance of facilities that generate electricity, steam, and heat; generation and sale of electricity, steam, and heat
Hirofumi Aso
Corporation Communication Department
UACJ Corporation
TEL: +81-3-6202-3771
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Energy Service Disconnections for Non-Payment Will Continue to Be Paused, Now Through End of 2021
PG&E Automatically Enrolling All Residential and Small Business Customers with Past Due Balances Over 60 days in New Extended Payment Arrangements
SAN FRANCISCO--(BUSINESS WIRE)--As part of our ongoing comprehensive efforts to help customers financially impacted by the COVID-19 pandemic, Pacific Gas and Electric Company (PG&E) announced today service disconnections will not resume this year. The moratorium on energy service disconnections put in place by the California Public Utilities Commission (CPUC) in March 2020 is formally ending today but service disconnections will not resume in 2021.
PG&E is automatically enrolling all residential and small business customers with past due balances over 60 days in new extended payment arrangements. We are also closely monitoring the development and implementation of the California Arrearage Payment Program (CAPP) included in the 2021-22 California State Budget. As part of the CAPP process, PG&E will not resume disconnections for residential and commercial customers eligible for CAPP until the CAPP program is finalized.
“We’ve been partnering with local, state and utility leaders to ensure our customers in need have access to critical assistance as the impacts of the pandemic continue to evolve and the statewide disconnection moratorium ends today. PG&E will not immediately start shutting off service for nonpayment,” said Marlene Santos, PG&E executive vice president and chief customer officer.
The newly established CAPP program will offer financial assistance for California energy utility customers to help reduce past due energy bill balances accrued during the pandemic. Administered by the Department of Community Services and Development (CSD), the CAPP program dedicates $1 billion in federal American Rescue Plan Act funding to address Californian's energy debts incurred from March 4, 2020, to June 15, 2021.
Utility customers do not need to apply to receive assistance under the CAPP program. If a customer’s account is eligible — 60 days or more behind on payments — a credit will be automatically applied to some or all the customer’s bill, depending on availability of funds and the combined needs of all utility customers.
For months, PG&E has been working closely with CSD on program implementation details. PG&E anticipates CAPP funding to be applied directly to eligible customers’ accounts in the first quarter of 2022.
To coincide with the end of the moratorium today, PG&E has also automatically enrolled more than 450,000 eligible residential and small business customers in the new COVID-19 payment plan program this month. The newly established program automatically enrolls eligible customers who are 60 days past due in extended payment plans. Customers will be automatically enrolled on an ongoing basis based on eligibility through September 2022 to avoid service disconnections. Customers automatically enrolled in the new extended payment plans will be eligible for CAPP funding.
Ways for Customers to Save on Energy Bills
We encourage customers struggling to pay their bills to learn more about the following programs. Some customers can enroll in various programs without impacting eligibility for the extended payment plan or CAPP funding:
PG&E remains committed to providing support for customers during this transition, and we are here to help. Customers having a hard time paying their bills should contact PG&E immediately at (800) 743-5000 or visit pge.com/covid19. Financial resources for business customers are available here.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
Patents Expand the Protection of Volta’s Unique Station Displays and Targeted Advertising
SAN FRANCISCO--(BUSINESS WIRE)--Volta Inc. (“Volta”), an industry leader in commerce-centric electric vehicle (“EV”) charging networks, today announced the issuance of two utility patents to Volta Charging by the U.S. Patent and Trademark Office; U.S. Patent numbers 11,117,482 (the ‘482), and 11,132,715 (the ‘715).
The ‘715 patent, titled Systems and Methods for Providing Targeted Advertisements to a Charging Station for Electric Vehicles, covers a variation of Volta’s innovative method of providing targeted advertisements via EV charging stations. The patent’s claims include selecting and then displaying an ad at a charging station being actively used to charge an EV based on information known about the individual using that station. When the station is not charging an EV, a different set of ads may be displayed based on certain demographic information related to the location of that charging station.
The ‘482 patent, titled Charging Station with Articulating Panels, covers Volta’s invention of an EV charging station equipped with two electronic displays. Each display is hinged to a panel on the opposite sides of the EV charger’s frame so that the panels may open and close with respect to the frame. The design allows for convenient access behind the displays and inside the EV charger.
These patents join other patents in Volta’s U.S. and international patent portfolio, further protecting Volta’s unique charging station design and approach to maximizing outcomes for Volta’s brand and real estate partners, while also delivering a highly differentiated driver experience. Volta’s charging stations — which feature large, eye-catching digital displays — provide a premium content viewing experience for both the drivers who plug their vehicles into the stations and the customers who shop at nearby retailers. Brands running campaigns on Volta’s stations report experiencing positive results in brand awareness and increased purchase intent.
“Our value proposition for brand partners, site owners and drivers alike has always been predicated on our ability to innovate and adapt,” said Scott Mercer, Founder and CEO of Volta. “These new patents add to a portfolio that reflects the foundational elements of our product design and our rich user experience, further positioning us as a premium partner within the EV charging space.”
The ‘482 patent was issued on September 14th, while the ‘715 patent was issued on September 28th. Volta has also been granted nine U.S. design patents for its charging station related designs, in addition to international patents.
About Volta
Volta Inc. (NYSE: VLTA) is an industry leader in commerce-centric EV charging networks. Volta’s vision is to build EV charging networks that capitalize on and catalyze the shift from combustion-powered miles to electric miles by placing stations where consumers live, work, shop and play. By leveraging a data-driven understanding of driver behavior to deliver EV charging solutions that fit seamlessly into drivers’ daily routines, Volta’s goal is to benefit consumers, brands and real-estate locations while helping to build the infrastructure of the future. As part of Volta’s unique EV charging offering, its stations allow it to enhance its site hosts’ and strategic partners’ core commercial interests, creating a new means for them to benefit from the transformative shift to electric mobility. To learn more, visit www.voltacharging.com.
Sabrina Strauss
Goodman Media International, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
IncOder CORE is compact, easy to install and reliable, delivering superior performance for a wide range of robotic segments
BEDFORD, Mass.--(BUSINESS WIRE)--Celera Motion, an award-winning business unit of Novanta Inc., announced today another innovative new device for precise angle measurement: a compact, ultra-lightweight inductive angle encoder, ideal for a variety of surgical, medical and industrial robotics.
IncOder CORE is a non-contact device featuring the robust and reliable position sensing technology of IncOder — all fully contained in a stacked printed circuit board (PCB) kit that reduces OEM system mass.
“While IncOder remains the market leader in harsh environment position sensing, IncOder CORE delivers superb performance in an extraordinarily lightweight package,” said Mike Mainvielle, Vice President of Product Management and Marketing for Celera Motion. “Like all IncOder devices, it’s easy to install and uses proven technology that provides worry-free, accurate measurements 24/7.”
IncOder CORE is well suited for integration into rotary joints. The position sensor utilizes a unique field-proven inductive technique, delivering highly repeatable, reliable, temperature-stable performance.
IncOder CORE is designed primarily for segments including surgical robotics, medical robotics, rotary actuators and industrial robotic systems. It’s now offered in a compact 44mm size, with a 10.4mm thru bore and options for customization available. More sizes will be coming soon.
Features of the IncOder CORE include:
Benefits of the IncOder CORE include:
IncOder CORE has been optimized for integration into host system mechanics. Each sensor includes a passive rotor target paired with an active stator — both featuring a large thru bore and practical M2 screw mounting features.
IncOder CORE can be configured to output up to 17 bits of absolute digital position data in a range of digital protocol options, including BiSS-C, SSI, SPI and Asynchronous Serial (ASI) outputs. It can be supplied with axial or radial connector options.
For more information visit: https://www.celeramotion.com/incoder-core/
About Celera Motion
Celera Motion, headquartered in Bedford, Mass., is a market leading provider of motion control components and subsystems for OEMs serving a variety of medical and advanced industrial markets. Celera Motion offers precision encoders, motors, and customized mechatronic solutions that help customers solve challenging motion control problems. For more information, visit www.celeramotion.com.
About Novanta
Novanta is a trusted technology partner to OEMs in the medical and advanced industrial technology markets, with deep proprietary expertise in photonics, vision and precision motion technologies. For more information, visit www.novanta.com
Mary Jane McCraven
Celera Motion, A Novanta Company
+1-978-944-6378
This email address is being protected from spambots. You need JavaScript enabled to view it.
MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro”) (NYSE: PUMP) today announced an order for 50 Tier IV Dynamic Gas Blending (“DGB”) pumping unit conversions for approximately $74 million. The 50 pumping units will be used to convert existing Tier II diesel units to lower emissions Tier IV DGB dual-gas engines with deliveries beginning in December 2021 and continuing through the first half of 2022.
“The demand for efficient services in a moderate activity recovery environment coupled with differentiated pricing for lower emissions equipment that advances our customers’ ESG initiatives has led to improved profitability for ProPetro’s Tier IV DGB offering,” said Sam Sledge, Chief Executive Officer of ProPetro. “The commitment to these conversions highlights our pledge to provide top-tier efficiency and reliability for hydraulic fracturing services in the Permian Basin, while delivering ESG-friendly solutions to our customers. Due to ongoing supply chain constraints for critical equipment, combined with recovering pricing for our services, including for our Tier II diesel equipment, we believe now is the optimal time to act on these orders.”
“Additionally, dual-gas fleets remain highly utilized in our market and our customers are very pleased with their performance,” added Sledge. “These units will also enhance ProPetro’s ESG profile and service offerings by delivering upgraded, more efficient engines that will displace diesel and reduce emissions by increasing the use of natural gas as a fuel for our frac operations. We also believe attrition of efficient pressure pumping equipment in the basin has accelerated over the past two years. These converted units, paired with ProPetro’s industry-leading operational performance, will continue to position us well in a frac market that is currently constrained for reliable, high-performing, and lower emissions fleets.”
ProPetro believes the current supply chain stress will continue to extend delivery times for critical oilfield equipment through 2022 while the risk of inflation threatens to further increase costs. Accordingly, ProPetro has elected to bring forward a commitment of $74 million of anticipated 2022 capital expenditures to ensure timely execution of ProPetro’s 2022 equipment conversion plans. Moreover, these upgrades will further support ongoing maintenance schedules for existing equipment.
Approximately $30 million of the $74 million will be paid in 2021 with the remainder paid as deliveries continue during the first half of 2022. The Company now expects full year 2021 incurred capital expenditures to be between $145 million and $160 million. As of September 28, 2021, ProPetro’s total available liquidity which is inclusive of cash and available capacity under the Company’s revolving line of credit remains in excess of $130 million.
"In our previous earnings release in August, we indicated our intentions to make strategic supply chain investments," said David Schorlemer, Chief Financial Officer. “The orders announced today follow through with our previous comments and come in conjunction with improved pricing across our portfolio of services over the last few months. Additionally, having remained disciplined with our capital and protecting our balance sheet has enabled the Company to make these opportunistic investments at this critical time while maintaining a prudent liquidity position with no debt outstanding."
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing pressure pumping and other complementary services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information, please visit www.propetroservices.com.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the operational disruption and market volatility resulting from the COVID-19 pandemic and other factors described in ProPetro’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission. In addition, ProPetro may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
ProPetro Holding Corp
David Schorlemer, 432-227-0864
Chief Financial Officer
This email address is being protected from spambots. You need JavaScript enabled to view it.
ProPetro Holding Corp
Josh Jones, 432-276-3389
Director of Finance
This email address is being protected from spambots. You need JavaScript enabled to view it.
NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC plc (NYSE: FTI) (Paris: FTI) (the “Company”) announced today the extension of its previously announced cash tender offer (the “Tender Offer”) to purchase up to $250 million aggregate principal amount (the “Maximum Tender Amount”) of its 6.500% Senior Notes due 2026 (the “Notes”).
The Tender Offer’s extended expiration time shall be 11:59 p.m., New York City time, on October 7, 2021 (the “Expiration Time”).
As of 5:00 p.m., New York City time, on September 14, 2021 (the “Early Tender Time”), $164,113,000 aggregate principal amount of the Notes had been validly tendered and not validly withdrawn. These Notes were accepted by the Company on September 15, 2021 without proration.
Additionally, the Company reiterates that the Early Tender Premium of $30.00 shall apply from September 15, 2021 to at or before the Expiration Time. The terms and conditions of the Tender Offer otherwise remain unchanged and are set forth in an Offer to Purchase (the “Offer to Purchase”), dated August 31, 2021.
If more than the Maximum Tender Amount of Notes are validly tendered, and Notes are accepted for purchase, the amount of Notes that will be purchased will be prorated as described in the Offer to Purchase. Only Notes validly tendered at or before the Expiration Time will be subject to possible proration. The Company reserves the right, but is not obligated, to increase the Maximum Tender Amount in its sole discretion. The Company will return any Notes not accepted for purchase promptly after the Expiration Time.
The Company has engaged Citigroup Global Markets Inc. and BofA Securities, Inc. to act as the dealer managers for the Tender Offer. The Information Agent for the Tender Offer is Global Bondholder Services Corporation. Copies of the Offer to Purchase and related offering materials are available by contacting the Information Agent at (866) 470-3700 (toll-free) or (212) 430-3774. Questions regarding the Tender Offer should be directed to Citigroup Global Markets, Inc. at (800) 558-3745 (toll-free) or (212) 723-6106 (collect) and BofA Securities, Inc. at (980) 388-3646 (collect) or This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release is not an offer to purchase or a solicitation of an offer to sell any securities. The Tender Offer is being made solely pursuant to the terms of the Offer to Purchase. The Tender Offer is not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities or other laws of such jurisdiction.
Forward-Looking Statements
This release contains forward-looking statements. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
United Kingdom
The communication of this press release and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of section 21 of the Financial Services and Markets Act 2000 (“FSMA”). Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may be communicated to (1) those persons who are existing members or creditors of the Company or other persons within Article 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, and (2) to any other persons to whom these documents and/or materials may lawfully be communicated.
European Economic Area (EEA)
In any European Economic Area (EEA) Member State (the “Relevant State”), this press release is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, as amended (the “Prospectus Regulation”). Each person in a Relevant State who receives any communication in respect of the Tender Offer contemplated in this press release will be deemed to have represented, warranted and agreed to and with each Dealer Manager and the Company that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Vice President, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
James Davis
Senior Manager, Investor Relations
Tel: +1 281 260 3665
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Media relations
Nicola Cameron
Vice President, Corporate Communications
Tel: +44 1383 742297
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Catie Tuley
Director, Public Relations
Tel: +1 713 876 7296
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
MUNICH & PFORZHEIM, Germany--(BUSINESS WIRE)--Notably, photovoltaic systems and large-scale solar power plants combined with electrical energy storage are becoming more and more important for grid control and managing grid congestion. At Intersolar Europe Restart from October 6–8, 2021 in Munich, they will take center stage: The most important solar industry platform will be presenting the latest innovations in the fields of photovoltaics, solar thermal technologies and solar power plants. At the Intersolar Europe Conference, the specialist conference taking place in parallel with the exhibition, there will be two joint sessions with the ees Europe Conference on the integration of PV and storage systems.
An increased expansion of renewable energies is urgently needed. In addition to the expansion of solar and wind energy, they have to be complemented by efficient electrical energy storage to ensure that the energy transition and the new energy world run smoothly. The photovoltaic and storage market is booming. Photovoltaic additions in Germany reached 2020 4.9 gigawatts, this is more than it has since 2012. New capacity additions in 2020 were almost 30 % higher than in 2019. Additionally, the German Solar Industry Association (BSW-Solar) has reported that demand for residential batteries increased by 47 %. According to BSW estimates, around 88,000 new home storage units were installed in Germany last year in the private home sector alone.
The combination of photovoltaics and storage systems is increasingly becoming the standard. Such technology can be used to optimize the self-consumption of solar energy, for charging electric vehicles or stabilizing the grid and other grid services. "The trend is clearly toward solar worry-free packages, consisting of a solar system on the roof, solar storage in the basement and, increasingly, a solar power charging station at the front door" says Carsten Körnig, Managing Director, German Solar Association (BSW). "One out of every two solar power systems is now installed together with a storage system."
Joint sessions on PV and storage
Trending PV electrical storage technologies will be showcased at the specialist conference: Leading the Charge: Electrical Storage for Residential and C&I PV Systems and A Formidable Team: Utility Scale and Electrical Energy Storage. Intersolar Europe Restart 2021 will take place at Messe Munich from October 6–8. Quick facts about the innovation platform 2021: 420 exhibitors, 20,000 visitors and an exhibition space of 55,000.
www.intersolar.de/conference-program
www.ees-europe.com/conference-program
Robert Schwarzenböck
This email address is being protected from spambots. You need JavaScript enabled to view it.
Project is Part of a $167MM Plan for 2023 Reopening of the Landmark Hotel
IRVINGTON, N.Y.--(BUSINESS WIRE)--#CPACEFinance--X-Caliber Funding (X-Caliber), a national, direct commercial real estate lender, and CastleGreen Finance (CastleGreen), an affiliate company that provides capital focused on Commercial Property Assessed Clean Energy (C-PACE) financing, are pleased to announce the closing of a $94MM joint transaction as part of a multimillion-dollar renovation to reopen the Long Beach, California landmark Breakers Hotel & Spa. The funding was comprised of a renovation loan and C-PACE financing, earning the distinction of being the largest financing of a single asset under the program in the state of California.
The X-Caliber/CastleGreen team executed the one-stop transaction providing $48.5MM in first mortgage, renovation financing, and $45.5MM in C-PACE financing through the California Statewide Communities Development Authority’s (CSCDA) Open PACE Program. The Open PACE Program provides property owners funding to finance improvements that include energy efficiency, renewable energy, water conservation, and seismic improvements while leveraging contractor networks in California communities. The unique PACE financing is only administered through C-PACE approved lenders and allows borrowers to pay it back over time through a voluntary tax assessment that provides a longer-term, lower-cost financing option coupled with the ability to transfer repayment to the next owner.
The $94MM in financing is part of a $167MM project led by Pacific6 Enterprises, a Long Beach, California partnership, led by John Molina, who purchased the Long Beach Breakers Hotel & Spa in 2017. The firm focuses on projects that bring positive economic and social advancement to their local communities. The property is planned to reopen as a boutique hotel in the first quarter of 2023 and will feature 185 guest rooms, a rooftop pool, several restaurants, and a renovation of the iconic Sky Room.
Chris Callahan, President and CEO of X-Caliber, says he was extremely pleased to work with all of the parties involved in this notable transaction.
“This was our first joint transaction with our affiliate company, CastleGreen, and we were excited to combine our unique capabilities through the C-PACE program to help Pacific6 execute their vision of bringing this hotel back to life while providing more than 220 jobs and significant economic stimulation to vibrant downtown Long Beach. X-Caliber is committed to providing our clients with the best possible solutions for their business goals and we instantly fell in love with the vision for the Breakers Hotel. Our team of experts understood the needs of our friends at Pacific6, and we were pleased to provide a one-stop financing solution for this transformational and impactful initiative.”
The financing will not only provide borrowers with longer-term, lower-cost financing, but it will significantly reduce greenhouse gas emissions at the rate of an estimated 247.2 metric tons of carbon dioxide per year. The C-PACE financing required improvements for this project are estimated to reduce annual greenhouse gas emissions by eliminating the equivalent to 273,800 pounds of burned coal and avoiding 84.3 tons of waste that will be recycled instead of landfilled. These are two of nearly two dozen examples of CO2 reduction that are a direct result of the C-PACE financing for the Breakers Hotel and Spa.
“The CastleGreen team was very proud to work with its partner at X-Caliber to help the Pacific6 team bring this historic asset back to its grandeur of the early 20th century,” said Sal Tarsia, Managing Partner of CastleGreen. “It was a pleasure to bring all of the elements available in the CSCDA Open PACE Program to help benefit Pacific6, a firm truly engaged in the restoration and positive environmental impact of its community.”
“Bringing the Breakers Hotel back to its former purpose and glory has been our intention from day one,” said John Molina, founder of Pacific6. “Long Beach needs this hotel and we’re proud to work with CastleGreen and X-Caliber to make this dream a reality as we transform our city’s downtown neighborhood.”
James Hamill, Managing Director, California Statewide Communities Development Authority, says the project’s financing is an example of how the unique C-PACE program and strong teamwork can make a real impact.
“The Breakers C-PACE financing exemplifies how CSCDA brings effective financing mechanisms to its member cities, such as Long Beach, to create a sustainable present and future,” said Hamill. “We commend the CastleGreen team for its efforts here and look forward to their continued positive impact in the C-PACE space in California.”
Berkadia’s Matt Raptosh, Managing Director, arranged the transaction financing. “This deal could not have been closed without the creativity, commitment, and integrity of the X-Caliber/CastleGreen team. Thanks to their efforts, the city of Long Beach will benefit from the return of this historic hotel as a beautiful and defining feature of its coastal skyline. X-Caliber and CastleGreen were able to lever their expertise in structured finance and C-PACE lending to create an outstanding solution for a very complex deal, all the while providing best-in-class service to the client, Berkadia, and all of the stakeholders from application through closing. We are excited to work with them again in the very near future.”
The 14-story Breakers hotel, which is among the oldest buildings in Long Beach, was built in 1926 and has a star-studded history of hosting guests like John Wayne, Clark Gable, Cary Grant, and Elizabeth Taylor. It is within walking distance to many of Long Beach’s notable features, including the Convention and Entertainment Center, the restaurant district, the Aquarium, and the Long Beach Cruise Terminal. The hotel closed in 1988 and most recently operated as an assistant living facility. The new Breakers Hotel and Spa is projected to reopen in the first quarter 2023.
About X-Caliber –www.x-calibercap.com
X-Caliber is a nationally recognized direct lender that has been building long term relationships with our clients for 30 years. The X-Caliber team offers a broad breadth of experience and capital markets knowledge unrivaled by its competitors. The principals have provided capital in excess of $80 billion to the Commercial Real Estate space over the past two decades.
About CastleGreen Finance –www.castlegreenfinance.com
CastleGreen Finance is a private capital source focused on Commercial PACE (Property Assessed Clean Energy) financing. CastleGreen brings extensive experience in commercial real estate across a broad range of financial disciplines. The real estate experience of the CastleGreen team, combined with its core C-PACE capabilities, provides its clients with the knowledge and resources to create a superior capital stack that meets all its needs and helps to unlock the potential of their commercial real estate. We understand that the most important part of any real estate transaction is showing up with the capital at closing. Our team focuses on the details of every deal to ensure we can get our clients to the finish line.
About Pacific6 – www.pacificsix.com
Pacific6 is a Long Beach, California-based investment and development partnership, capitalized at over $100 million. The partnership's six founders are committed to identifying, investing, and being personally involved in inspiring initiatives that provide both economically and socially positive impacts for the people and communities in which they are located. The current project portfolio includes the award-winning Long Beach Post and the historic Breakers Hotel.
Media:
Amber Howard
212.220.7046
Installation of approximately 300 LED lights will save taxpayers more than $60,000 in annual electric costs
FRAMINGHAM, Mass. & CINCINNATI--(BUSINESS WIRE)--#cincinnatibengals--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its latest phase of work for Paul Brown Stadium, home of NFL team the Cincinnati Bengals. As part of the project, Ameresco replaced over 500 2000-Watt metal halide technology sports field lights and installed 300 1400-Watt LED technology sports field lights. The company also added a new, state-of-the-art DMX lighting control and monitoring system.
The newly installed LED field lighting system will provide Paul Brown Stadium with high quality, consistent lighting levels. Implemented upgrades replace the stadium’s outdated metal halide fixtures, which were over 20 years old. As part of a 20-year comprehensive parts and labor warranty, the newly installed LED fixtures will also eliminate future challenges and costs associated with routine lamp and ballast replacements for the stadium. The project is expected to amass more than $60,000 in annual electric cost savings.
“We have been working with Ameresco since the start of 2014 and are continuously looking to find ways to incorporate more sustainable solutions into the County’s infrastructure,'' said Joe Feldkamp, Director, Stadia and Parking, Hamilton County. “With the addition of these new measures, we can rest assured that we’re implementing upgrades that enable higher quality lighting, while also creating additional energy savings for the stadium and taxpayers of Hamilton County.”
The completion of the energy efficient upgrades at Paul Brown Stadium marks the culmination of the seventh phase of work completed under the partnership between Ameresco and Hamilton County. In past phases of work, the County has implemented various energy efficiency and smart technology upgrades to nearly all County facilities, including Paul Brown Stadium and Great American Ballpark, the home of the Cincinnati Reds MLB Team. The partnership with Ameresco has allowed the County to focus on continuing to reduce their carbon impact while implementing needed facility improvements, making it more attractive for other major sporting events such as the 2026 World Cup soccer matches, currently under consideration.
“We are excited to mark the completion of this enhanced lighting project at Paul Brown Stadium and we are proud of the long-term partnership we have maintained with Hamilton County,” said Lou Maltezos, executive vice president, Ameresco. “By replacing outdated field lighting fixtures with energy efficient LEDs, Paul Brown Stadium is making significant improvements in terms of sustainability and field visibility for the athletes and fans. The County’s continued focus on reducing their carbon impact via energy efficient upgrades solidifies their position as a leading smart and energy-responsible County.”
Construction of the project was completed in July 2021.
To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Hamilton County, Ohio
Hamilton County, Ohio is a dynamic local governmental agency that strives every day to serve its growing number of residents by providing the best and most responsive county government in America. Our mission is to reach out to Hamilton County residents to provide efficient service of the highest quality, encourage resident participation in service development, and to deliver county services equitably. Hamilton County is located in the Southwest corner of the State of Ohio and is made up of 49 unique and vibrant communities including the City of Cincinnati.
The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported contracted backlog as of June 30, 2021.
Media Contact:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
Hamilton County: Bridget Doherty 513-658-0149, This email address is being protected from spambots. You need JavaScript enabled to view it.
MONHEIM AM RHEIN, Germany--(BUSINESS WIRE)--Due to a technical problem in a third-party synthesis gas unit at the Oberhausen, Germany, site, raw materials to OQ Chemicals are currently restricted. During a regular inspection, a leakage was detected at the cylinder block in the area of the valves. Unfortunately, the compressor had to be taken out of service for safety reasons to perform immediate repairs off-site. As a result, OQ Chemicals cannot produce at target rates.
As the cause for the supply restrictions is outside OQ Chemicals’ immediate control, the company has to declare force majeure for n- & iso-Butyraldehyde, Propionaldehyde, 2- Ethylhexanol, n- & iso-Butanol, and n-Butyl Acetate, with immediate effect. OQ Chemicals will therefore be unable to make deliveries of these products as scheduled. Available volumes will be allocated in a fair and reasonable manner.
Concurrently, OQ Chemicals will be issuing a Sales Control program for Oberhausen-produced products. The company is using all reasonable efforts to mitigate the effects of this incident and to limit the impact on its customers. OQ Chemicals will keep customers regularly informed of its status and ability to schedule deliveries.
About OQ Chemicals
OQ Chemicals (formerly Oxea) is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters, and amines. These products are used for the production of high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavours and fragrances, printing inks and plastics. OQ Chemicals employs more than 1,400 people worldwide and is part of OQ, an integrated energy company with roots in Oman. OQ emerged in 2019 upon the successful integration of nine legacy companies. Operating in 13 countries, OQ covers the entire value chain in the hydrocarbon sector from exploration and production through to marketing and distribution of its products. OQ sells its fuels and chemicals in over 60 countries worldwide. For more information about OQ Chemicals, visit chemicals.oq.com.
OQ Chemicals GmbH, Rheinpromenade 4a, 40789 Monheim am Rhein, Germany
Thorsten Ostermann, Communications and Press Relations
Phone: +49 (0)2173 9993-3009, This email address is being protected from spambots. You need JavaScript enabled to view it.
-- JetBlue to Outpace Industry in SAF Usage Based on Percentage of Total Fuel (a), Doubling Its Prior Commitment with SG Preston and On Pace to Achieve 10 Percent SAF Usage Years Ahead of Its Original Target --
-- Sustainability Commitment Goes Beyond Jet Fuel with Conversion of Airport Ground Vehicles to Electric at Newark Liberty International Airport and a Comprehensive LED Lighting Retrofit at New York’s John F. Kennedy International Airport --
NEW YORK--(BUSINESS WIRE)--JetBlue (Nasdaq: JBLU) today announced plans to speed up its transition to sustainable aviation fuel (SAF) with an offtake agreement with SG Preston, a leading bioenergy developer. With the addition of this SG Preston agreement to its previous SAF commitments, JetBlue is well ahead of pace on its target to convert 10 percent of its total fuel usage to SAF on a blended basis by 2030. The airline will reach nearly eight percent SAF usage by the end of 2023 when delivery of SAF under this agreement is expected. JetBlue is doubling its previous SAF commitment with SG Preston, which was first announced in 2016 as one of the largest SAF purchase agreements in aviation history.
JetBlue’s agreement with SG Preston also marks a major milestone for SAF in New York’s airports. This deal is expected to bring the first large-scale volume of domestically produced SAF for a commercial airline to New York’s metropolitan airports. JetBlue will convert 30 percent of its fuel buy across John F. Kennedy International Airport (JFK), LaGuardia Airport (LGA) and Newark Liberty International Airport (EWR) from traditional Jet-A fuel to SAF (b), which is expected to reduce emissions by an estimated 80 percent per gallon of neat SAF, compared to traditional petroleum-based fuels.
Targeting a start in 2023 and continuing over a 10-year period, SG Preston will deliver at least 670 million gallons of blended SAF to JetBlue to fuel its flight operations at JFK, LGA and EWR, helping JetBlue avoid approximately 1.5 million metric tons of CO2 emissions. JetBlue expects to invest more than $1 billion in purchasing SAF over the term of this agreement, at a price competitive to traditional Jet-A fuel, with no expected material impact to the airline’s total fuel costs. This marks the largest-ever announced near-term SAF deal for delivery in the Northeast and will be become the airline’s largest single jet fuel contract.
“We are well past the point of vague climate commitments and corporate strategies. Earlier this year, we set specific, dated, and aggressive emissions targets. And now we are physically changing the fuel in our aircraft to meet these commitments,” said Robin Hayes, chief executive officer, JetBlue. “At JetBlue, we’re heavily investing in SAF because we see it as our most promising means of rapidly and directly reducing aircraft emissions in the near-term. With this expanded agreement with SG Preston, nearly eight percent of JetBlue’s total fuel use will be SAF, putting us well ahead of pace in reaching our goal of 10 percent SAF usage by 2030.”
Sustainable aviation fuel is jet fuel produced from biological resources that can be replenished rapidly and without impacting food supply. Compared to traditional petroleum-based Jet-A fuel, renewable options can significantly reduce both greenhouse gas emissions and other air pollutants such as particulate matter and sulfur oxides. Safety is JetBlue’s number one priority, and SAF is functionally equivalent to conventional Jet-A fuel, posing no discernible difference in safety or performance. The fuel is fully compatible with existing jet engine technology and fuel distribution infrastructure when blended with fossil jet fuel, and is tested and transported the same way as regular Jet-A fuel.
SG Preston has made significant progress on a new facility in the Northeast to produce SAF at a large scale. SG Preston’s HEFA- (hydro-processed esters and fatty acids) based renewable jet fuel will be sustainably produced from waste fats, oils, greases, and non-food oilseeds. The fuel is expected to receive sustainability certification from ISCC, an independent, global certification body for sustainability and carbon reduction. SG Preston’s process utilizes industry-leading refining process technology, which has been FAA-approved for commercial flying since 2011. This SAF will be blended with Jet-A fuel at an estimated 30 percent blend ratio before being transported to JFK, LGA, and EWR.
“The SG Preston-JetBlue relationship is the blueprint for a balanced partnership designed to achieve both the airline’s and global aviation’s sustainability and pricing goals. The reality of achieving the US sustainability target of approximately 35 billion gallons of sustainable aviation fuel by 2050 is daunting. Engaging with, and addressing the concerns of all key stakeholders and contributors to the solution, is paramount to successfully reaching this target. JetBlue’s continued commitment to SG Preston’s development strategy illustrates continued confidence in our unique approach to this challenge. We’re honored by this demonstration of trust,” said Randy Delbert Letang, CEO of SG Preston.
JetBlue’s SAF Strategy
JetBlue’s revised deal with SG Preston is its third agreement for SAF. JetBlue recently entered into a new relationship with World Energy and World Fuel Services and began flying with SAF at Los Angeles International Airport (LAX) in July 2021. Additionally, JetBlue partnered with Neste in August 2020 to fuel its flights from San Francisco International Airport (SFO) with SAF. JetBlue’s SAF strategy was developed with support and consultancy from energy market experts at ICF.
While JetBlue views SAF as the most promising solution to rapidly and directly reduce aircraft emissions in the short and medium term, it is one piece of its larger decarbonization strategy including aircraft efficiency, fuel optimization, sustainable aviation fuel, electric ground operations, technology partnerships and carbon offsetting.
Hayes continued, “We recognize that airlines have a responsibility to decarbonize our operations and usher in an era of truly sustainable travel. We are therefore stepping up as an industry with commitments and clear actions. However, we can’t do it alone. In order for our industry to meet our ambitious targets, we are asking for collaboration and leadership from our key stakeholders – fuel suppliers, aircraft and engine manufacturers, and governments to play a critical role in helping the drive toward net zero.”
JetBlue’s Commitment to Grow Sustainably in New York
New York is JetBlue’s home and where more than 7,000 of its crewmembers live and work. The airline is experiencing significant growth in New York, and furthering plans to substantially increase flying and bring more low fares and jobs to JFK, LGA and EWR as part of its Northeast Alliance with American Airlines. As JetBlue increases its presence and brings more air service to the region’s three airports, it is more important than ever to grow sustainably.
With a focus on more sustainable operations, JetBlue was recently selected for a grant from the New Jersey Department of Environmental Protection’s transportation electrification initiative for electric ground service equipment (eGSE) at EWR. With this grant, JetBlue will convert 38 ground service vehicles to electric, and install 16 dual-port charging stations, with additional support from the Port Authority of New York and New Jersey. Following this conversion and one in process at Boston Logan International Airport, JetBlue will have converted 39 percent of these three vehicle types to electric. This is significant progress towards JetBlue’s eGSE goal to convert 40 percent of its bag tugs, belt loaders, and pushbacks network wide to electric by 2025, and 50 percent by 2030.
Additionally, JetBlue is making significant updates to T5 by upgrading the entire terminal to LED lighting solutions provided by Brightcore Energy, a premier provider of turn-key energy efficiency projects from lighting to solar, renewable heating & cooling, EV chargers, and battery storage. The T5 upgrades will reduce JetBlue’s lighting-related energy use by approximately 66 percent, based on current usage. The project will have a significant impact, saving more than 2.1 million kWh annually, while improving aesthetics, lowering energy costs and reducing the terminal’s carbon footprint.
“We applaud JetBlue’s commitment to convert 30 percent of its fuel demand from traditional jet fuel to sustainable aviation fuel across the three major New York airports. This latest initiative from JetBlue is a critical step towards accelerating the production and adoption of SAF in the northeast, and achieving the associated environmental benefits in our region,” said Rick Cotton, Executive Director of the Port Authority of NY & NJ. “This initiative advances our continued collaboration with JetBlue on important sustainability measures, including energy efficiency upgrades and electrifying ground support equipment at our airports.”
JetBlue’s Focus on the Environment
JetBlue depends on natural resources and a healthy environment to keep its business running smoothly. Natural resources are essential for the airline to fly and tourism relies on having beautiful, natural and preserved destinations for customers to visit. The airline focuses on issues that have the potential to impact its business. Customers, crewmembers and community are key to JetBlue's sustainability strategy. Demand from these groups for responsible service is one of the motivations behind changes that help reduce the airline’s environmental impact. For more on JetBlue’s sustainability initiatives, visit www.jetblue.com/sustainability.
About JetBlue Airways
JetBlue is New York's Hometown Airline®, and a leading carrier in Boston, Fort Lauderdale-Hollywood, Los Angeles, Orlando and San Juan. JetBlue carries customers across the U.S., Caribbean and Latin America, and between New York and London. For more information, visit jetblue.com.
(a) |
Based on publicly announced deals and volumes, as a percentage of US airlines’ 2019 respective total fuel use. | |
(b) |
The 30 percent value is based on JetBlue’s 2019 fuel usage across JFK, EWR, and LGA. The actual percentage may vary by the date of delivery, based on variations in JetBlue’s future fuel requirements. |
Media Contact
JetBlue Corporate Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
PG&E and Southern California Edison Announce Joint Agreement to Expand the Free, Confidential Service Available to PG&E Customers 24/7
SAN FRANCISCO--(BUSINESS WIRE)--With September being National Preparedness Month, Pacific Gas and Electric Company (PG&E) and Southern California Edison (SCE) announce a joint agreement with the 211 California Network, which will provide emergency preparedness support for customers during Public Safety Power Shutoffs (PSPS).
211 will serve as the network’s operator, directly connecting customers to local community-based organizations who provide assistance with transportation and shelter needs, portable backup power, home meal delivery, food replacement, bill assistance programs, and support for those who may have physical, intellectual or developmental disabilities. The service will be available to customers 24 hours-per-day during PSPS events, which occur when power is shut off temporarily to avoid the risk of catastrophic wildfires.
Through the 211 California Network, customers of California’s two largest utility companies will have the ability to call or text 211 during PSPS events to facilitate connections with local resources. The new agreement with 211 includes outreach to Access and Functional Need (AFN) populations, including those with physical, developmental or intellectual disabilities, chronic conditions or injuries, limited English proficiency, older adults, children, pregnant women and low income, homeless and/or transportation disadvantaged individuals.
“It is our commitment to not only identify and connect with members of the AFN community who we serve, but to provide information to help them plan for emergency situations and to facilitate access to resources that can help them navigate through challenging situations,” said Marlene Santos, PG&E executive vice president and chief customer officer.
When not aiding during PSPS, 211 will focus on outreach to at-risk customers, including those living in high-fire-risk areas who are eligible for income-qualified assistance programs and rely on life-sustaining medical equipment. The focus during these periods will be to evaluate these customers’ resiliency plans, connect them with existing programs that can help them prepare for outages and to assist them in completing applications for these programs.
“The 211 California Network is a powerful resource that considers all of our diverse customers’ unique needs,” said Jill Anderson, senior vice president of customer service for SCE. “For customers at risk of PSPS, particularly those with access and functional needs, 211 offers a toolkit that considers each customer holistically and helps to tailor a resiliency plan that works for them.”
The agreement with 211 will provide opportunities for customers throughout the state to have enhanced information awareness and resource availability. By expanding the 211 California Network, some community resources that were previously available in only select areas may now be accessible to those who they would have otherwise been unavailable to.
“The 211 California Network is excited to work with the utility companies to provide additional support to their customers,” said Interface 211 Community Information Officer, Kelly Brown. “This partnership with SCE and PG&E will expand our ability to connect customers to critical resources before, during, and after Public Safety Power Shutoffs.”
To get connected and get help through the free, confidential referral hotline, dial 2-1-1. Customers can also log onto 211.org for more information. 211 is available 24/7 in more than 300 languages.
About 211
With 24-7 availability from trained specialists and a dedicated resource management team, 211 is a powerful resource for households. The 211 California Network is comprised of 13 contact centers throughout the state working together to connect the community to all available health and social service resources.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
MEDIA RELATIONS:
415-973-5930
Hexagon Geospatial Solutions, Maptitude from Caliper, and AutoCAD Map 3D are the 2021 Geographic Information Systems Emotional Footprint Champions.
TORONTO--(BUSINESS WIRE)--SoftwareReviews, a division of IT research and advisory firm Info-Tech Research Group, has published its 2021 Geographic Information Systems Emotional Footprint Awards, naming three vendors as Champions. The following vendors are champions according to the feedback provided by their users via SoftwareReviews' comprehensive online survey:
SoftwareReviews' Net Emotional Footprint measures high-level user sentiment. It aggregates emotional ratings from 26 provocative questions, creating a powerful indicator of the overall user feeling toward the vendor and the product.
Hexagon Geospatial Solutions, with a Net Emotional Footprint of +90, ranked strongly on being respectful. Maptitude from Caliper received a Net Emotional Footprint of +80 and exceeded user expectations in being trustworthy. With a Net Emotional Footprint of +79, AutoCAD Map 3D performed well overall, mainly for being reliable.
In general, Geographic Information Systems users were most satisfied with vendors providing remarkable service experiences. However, the users were most dissatisfied with vendors' negotiation and contract strategies.
What Is the Emotional Footprint Diamond?
The Emotional Footprint Diamond illustrates the customer experience with software vendors and a complex relationship spanning procurement, implementation, service, and support. The Net Emotional Footprint of a vendor is a result of aggregated emotional response ratings in the areas of service, negotiation, product impact, conflict resolution, and strategy and innovation, creating a powerful indicator of overall user feeling toward the vendor and its product from the software user's point of view. The data published in the Emotional Footprint Diamond is collected from real end-users through authentic software review surveys and meticulously verified. The survey uses standard net promoter scoring (positive percentage minus negative percentage) to arrive at the Net Emotional Footprint score. These skillfully crafted survey questions are informed by two decades of IT research and advisory. Vendors with top user scores receive the Emotional Footprint Award.
The Emotional Footprint Awards, an initiative proudly founded in 100% user-review data, is free of traditional components such as market presence and analyst opinion, which are opaque in nature and may be influenced by vendor pressure, financial or otherwise.
To learn more about SoftwareReviews and the Net Emotional Footprint surveys, visit https://www.softwarereviews.com/categories/geographic-information-systems.
About SoftwareReviews:
SoftwareReviews is a division of Info-Tech Research Group, an IT research and advisory firm established in 1997. Backed by two decades of IT research and advisory experience, SoftwareReviews is a leading source of expertise and insight into the enterprise software landscape and client-vendor relationships. By collecting real data from IT and business professionals, the SoftwareReviews methodology produces detailed and authentic insights into the experience of evaluating and purchasing enterprise software.
Sufyan Al-Hassan
Senior PR Coordinator
This email address is being protected from spambots. You need JavaScript enabled to view it.
Construction activities underway with initial in-service by fall of 2022
HOUSTON--(BUSINESS WIRE)--Kinetrex Energy, a Kinder Morgan, Inc. (NYSE: KMI) company and Wabash Valley Power Alliance (WVPA) today announced they have started construction activities for three previously announced renewable natural gas (RNG) facilities in Indiana. The three sites are located at the Twin Bridges Landfill in Danville, the Prairie View Landfill in Wyatt and the Liberty Landfill in Monticello. Upon completion, they are expected to produce a total of 3.5 billion cubic feet of RNG each year. Commercial operations are expected to begin in the fall of 2022, pending required permits and certifications.
Kinetrex Energy expects to invest $146 million to construct the RNG facilities to process gas purchased from WVPA. Waste Management, which owns the landfills, will operate the new RNG facilities. WVPA will continue to have generation facilities at the sites that will remain in operation. The new RNG facilities are designed to capture methane produced from landfills and convert that methane into pipeline-quality natural gas. This capture process reduces or eliminates greenhouse gas (GHG) emissions at the landfill and provides low-cost, efficient renewable energy. The RNG generated from the plants will be sold pursuant to long-term contracts to Kinetrex Energy’s compressed renewable natural gas (CRNG) and liquefied renewable natural gas (LRNG) vehicle transportation customers located throughout the eastern half of the United States.
“We are pleased to join WVPA, which has a long history in the landfill gas space, on this initiative to bring additional renewable fuels and low-carbon solutions to the marketplace,” said KMI President of Renewable Natural Gas Aaron Johnson. “We expect these facilities will produce renewable fuels that will ultimately replace approximately 28 million gallons of traditional diesel each year, lowering GHG emissions by about 280,000 tons. That’s like taking 60,000 vehicles off the road annually – a significant contribution toward reducing methane emissions.”
“The opportunity to work with Kinetrex has truly created a win-win for our membership,” said Wabash Valley Power Alliance Executive Vice President of Engineering and Operations Brian Fitzgerald. “As a result of this project, Kinetrex becomes a cooperative member and Wabash Valley Power Alliance’s involvement affords the production of alternative energy resources that will benefit our environment. As our industry continues the transition to a sustainable future, enabling the creation of renewable energy is a significant point of pride for our organization.” Wabash Valley Power Alliance first began energy production from landfill gas in 2002 and will continue to operate at six additional sites as a component of their diversified energy portfolio.
About Kinder Morgan, Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy infrastructure companies in North America. Access to reliable, affordable energy is a critical component for improving lives around the world. We are committed to providing energy transportation and storage services in a safe, efficient, and environmentally responsible manner for the benefit of people, communities and businesses we serve. We own an interest in or operate approximately 83,000 miles of pipelines and 144 terminals. Our pipelines transport natural gas, renewable fuels, refined petroleum products, crude oil, condensate, CO2 and other products, and our terminals store and handle various commodities including gasoline, diesel fuel, chemicals, ethanol, metals and petroleum coke. Learn more about our renewables initiatives on the low carbon solutions page at www.kindermorgan.com.
Important Information Relating to Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities and Exchange Act of 1934. Generally the words “expects,” “believes,” anticipates,” “plans,” “will,” “shall,” “estimates,” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements in this news release include express or implied statements concerning the benefits of RNG; and the anticipated cost, timing and benefits of the RNG facilities. Forward-looking statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management, based on information currently available to them. Although KMI believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance as to when or if any such forward-looking statements will materialize or their ultimate impact on KMI’s operations or financial condition. Important factors that could cause actual results to differ materially from those expressed in or implied by these forward-looking statements include changes in the supply of and demand for renewable natural gas; commodity prices, particularly the prices for Renewable Identification Numbers under the U.S. Environmental Protection Agency’s Renewable Fuel Standard Program; counterparty financial risk; and the other risks and uncertainties described in KMI’s reports filed with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year-ended December 31, 2020 (under the headings “Risk Factors” and “Information Regarding Forward-Looking Statements” and elsewhere) and its subsequent reports, which are available through the SEC’s EDGAR system at www.sec.gov and on KMI’s website at ir.kindermorgan.com. Forward-looking statements speak only as of the date they were made, and except to the extent required by law, KMI undertakes no obligation to update any forward-looking statement because of new information, future events or other factors. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements.
About Wabash Valley Power Alliance
Wabash Valley Power Alliance is a not-for-profit electric generation and transmission (G&T) cooperative based in Indianapolis. The G&T provides wholesale electricity to 23 retail electric distribution cooperatives in Indiana, Illinois, and Missouri. Collectively, these cooperatives supply electricity to more than 321,000 homes, schools, farms, and businesses. For more information, please visit www.wvpa.com.
Kinder Morgan Media Relations
Melissa Ruiz | This email address is being protected from spambots. You need JavaScript enabled to view it.
Kinder Morgan Investor Relations
(800) 348-7320 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Wabash Valley Power Alliance Media Relations
Brian D. Anderson | (317) 481-2844 | This email address is being protected from spambots. You need JavaScript enabled to view it.
First Pondster-brand unit treats a mobile home park sewage lagoon with beneficial biology
CLEARWATER, Fla.--(BUSINESS WIRE)--$OCLN #water--OriginClear Inc. (OTC Pink: OCLN), Total Outsourced Water™, today announced that it recently deployed its first Pondster™ brand modular lagoon treatment system at a Mobile Home Park (MHP) or trailer park, in Troy, Alabama. At the heart of the system is an innovative biofilm treatment process which holds promise as a core technology offering of the Company.
Video of the commissioning: https://youtu.be/vk_KHk7ADA0
After just eight days, the lagoon exhibited rapid improvement in water quality (see before and after image), which is continuing.
“It’s just amazing the change in just eight days,” said Claudia, a manager of the company that owns the Troy-based MHP. “It's tremendous. We did not anticipate changes as we were told between 30 and 60 days. And just to see what happened in eight days, we are extremely excited.”
Claudia added, “If I could just give you an analogy as to how our experience has been over the last 8 days, imagine a soaking kitchen pan that was very oily and you have it with water. And all of a sudden you drop three drops of dish detergent and it starts bubbling. And all of a sudden it starts separating the grease. That's how it looks like on the surface from the duckweed. We obviously cannot tell you anything about the bacteriology levels and where they are right now, because they haven't tested. But visually just the duckweed removal is something amazing.”
“We are excited to see Pondster take off like this,” said Tom Marchesello, OriginClear Chief Operating Officer. “We plan to offer models for Mobile Home Parks, water features at housing developments, and animal farms for first-stage disinfection and clarification of manure effluent.”
“The owners came to us having exhausted all other options for upgrading the lagoon,” stated Daniel M. Early P.E., OriginClear Chief Engineer. “At the time, we were studying the treatment of lagoons using an innovative biofilm treatment process installed in a Modular Water Systems structural plastic tank system. We called it the 'Pond Monster,' or Pondster. Basically, the lagoon water circulates continuously through the treatment unit, where an aeration system provides the oxygen the biofilm of beneficial bacteria needs to grow and thrive. Over time, the lagoon water clears up as the biofilm system consumes the nutrients that the algae present in the lagoon need to survive, while at the same time releasing beneficial dissolved oxygen and bacteria into the lagoon, where the bacteria continues to purify.”
“Like many other mobile home parks in America, this one was designed decades ago to collect its human waste in an open-air sewage lagoon located on the property,” Early went on. “Operating essentially as a septic cesspool with no form of advanced treatment capability, the foul-smelling lagoon continually increased pollution concentrations to the point where it was no longer in compliance with increasingly stringent discharge permit limits as enforced by the State of Alabama. Faced with this daunting challenge, this MHP had to find a way to treat the lagoon so that its discharge water could be safely released into the environment ─ hard to do inexpensively.”
Early further commented, “Making a sewer connection to the local public sewer utility was not an affordable option. The distance from the MHP to the city sewer was nearly a mile away and the connection would easily have cost $750,000 or more. This is a typical case of a water user being forced to treat their own waste water, which I encounter daily as a growing trend.”
For more information about Pondster, please go to www.originclear.tech/contact-us or call (323) 451-7050.
About OriginClear, Inc. OTC Pink: OCLN
America’s infrastructure is broken. And our government is spending nearly 100 billion dollars to fix the nation’s 150,000-plus water systems; but runaway inflation is defeating that effort. So, local businesses are taking Direct Action to clean and recycle their own water. We’re helping them “cut the cord,” by developing outsourced pay-per-gallon programs and a future digital currency to streamline payments. To learn more about OriginClear®, please visit our website at www.originclear.com.
For more information, visit the company’s website: www.OriginClear.com
Follow us on Twitter
Follow us on LinkedIn
Like us on Facebook
Subscribe to us on YouTube
Signup for our Newsletter
OriginClear Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein.
These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization, and if or when the Company will receive and/or fulfill its obligations under any purchaser orders. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason except as may be required under applicable laws.
Media Contact
The Pontes Group
Lais Pontes Greene, (954) 960-6083
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.thepontesgroup.com
Investor Relations and Press Contact:
Devin Angus
Toll-free: 877-999-OOIL (6645) Ext. 3
International: +1-323-939-6645 Ext. 3
Fax: 323-315-2301
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.OriginClear.com
Dual Drives Reduced CO2 emissions in 2020 by more than 630,000 tons
DALLAS--(BUSINESS WIRE)--Energy Transfer’s Dual Drive Technologies yesterday received the Environmental Excellence Award from the GPA Midstream Association. Dual Drive was selected for the Environmental Excellence Award from among the affiliated GPSA Midstream Suppliers. The award for innovative environmental solutions was presented at the GPA Midstream convention in San Antonio.
Energy Transfer’s Dual Drive natural gas compression system features patented technology that involves both a natural gas engine and an electric motor allowing each individual Dual Drive compression unit to switch between drivers at any time to actively manage both greenhouse gas emissions and the use of the electrical grid. The first Dual Drive was installed in East Texas in 2000, and since then has grown into a fleet of approximately 450,000 horsepower in multiple services from field gathering, transmission and cryogenic plant installations.
“We are so pleased to be recognized by our industry peers for the benefits of this technology, which can be significant in reducing Scope 1 CO2 emissions,” said David Coker, Vice President, Power Solutions for Energy Transfer. “Across our system of Dual Drives, we were able to reduce CO2 emissions by more than 630,000 tons in 2020 alone.”
Dual Drive was selected by GPA’s Midstream Environmental Committee for this innovative technology used by Energy Transfer at gas processing plants in Texas’ Permian Basin. GPSA's award category focuses on innovative environmental solutions with measurable results and repeatable processes.
The 2021 Environmental Excellence Award adds to Dual Drive’s list of accolades. Dual Drive Technologies received the 2012 Environmental Protection Agency’s (EPA) award for Best Available Control Technology (BACT) for emission reductions in the gas compression industry. And, in 2009, Dual Drive received the Innovative Technologies Award from the Texas Commission on Environmental Quality (TCEQ). This award also focused on emission reductions in the industry.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with a strategic footprint in all of the major domestic production basins. ET is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; NGL fractionation; and various acquisition and marketing assets. ET also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer website at energytransfer.com.
Media Relations:
Lauren Atchley or Vicki Granado, 214.840.5820
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Bill Baerg, Brent Ratliff, Lyndsay Hannah, 214.981.0795
Company offers complementary suite of solutions to advance the hydrogen economy
Hydrogen-powered fuel cells follows the company’s July launch of the Bloom Electrolyzer, offering highly efficient hydrogen generation
Solid-oxide platform is an integral part of commitment to sustainability and a zero-carbon future
SAN JOSE, Calif.--(BUSINESS WIRE)--Today, Bloom Energy (NYSE: BE) announced the commercial availability of its Hydrogen Energy Servers — 100 percent hydrogen-powered fuel cells that deliver on-site, 24/7, zero-carbon electricity — all in a simple, modular, and flexible design.
Orders are being accepted with commercial shipments expected to begin in 2022.
Dozens of countries across the globe have committed to net-zero emissions goals by 2050, and more than 30 countries have hydrogen-specific strategies that are being activated. Hydrogen is well-suited for an array of applications, including transportation, and unlocks a net-zero emissions future for hard-to-decarbonize heavy industries.
Electricity production is the second largest contributor to greenhouse gas emissions in the United States, with 62 percent of electricity produced through the combustion of fossil fuels. Hydrogen technologies, like hydrogen-powered fuel cells, significantly reduce the environmental impacts associated with electricity production and eliminate greenhouse gas emissions.
As the hydrogen economy grows, the need for hydrogen for energy storage and power generation will accelerate. For power generation, as production of hydrogen becomes ubiquitous, Bloom Energy’s Hydrogen Energy Servers will be another option in moving to net zero emissions.
“Bloom Energy has a complementary suite of solutions and strong partner ecosystem supporting both ends of the hydrogen economy — clean hydrogen production and efficient hydrogen utilization,” said Deia Bayoumi, vice president of product management, Bloom Energy. “With these offerings and collaborative solutions, our technology can be applied for today’s needs and in the future as the hydrogen economy becomes more robust.”
Renewable energy sources, such as solar and wind, are critical to clean power generation. However, these sources are also inherently intermittent, with periods of excess energy production that generate more electricity than transmission lines can carry. Curtailment is therefore needed to balance generation with consumption. By pairing renewables with the Bloom Electrolyzer, curtailment can be avoided; hydrogen can be produced at scale, compressed and stored for long duration during periods of excess renewable production.
The addition of hydrogen-powered fuel cells allows the stored hydrogen to be converted into 24/7, zero-carbon electricity that can be used when energy is needed. This also enables for islanded or remote communities with renewable resources to self-generate fuel for reliable electricity, without needing to import fuel to their local community.
“Our technology is distinctively suited to help hydrogen adopters thrive in the hydrogen economy,” said Venkat Venkataraman, executive vice president and chief technology officer, Bloom Energy. “Bloom Energy’s hydrogen-powered fuel cells are built on the company’s solid-oxide platform that has higher efficiencies compared to other fuel cell technologies, generating more electricity from less hydrogen, and provides reliable power helping organizations reach to meet their zero-carbon objectives.”
Bloom Energy’s solid-oxide platform is positioned to address both the realities of today’s energy infrastructure, and aspirations for the future energy ecosystem. Bloom Energy Microgrids demonstrate that needed modular and redundant power is possible today and they provide a cleaner replacement to back-up diesel generators. Looking ahead, the fuel flexibility of Bloom Energy Servers enables an accelerated transition to the hydrogen economy with the use of natural gas, biogas, hydrogen, or a blending of these fuels.
Bloom Energy’s Hydrogen Energy Servers have undergone testing as part of a pilot project with SK ecoplant in Ulsan, South Korea for the last five months with successful results. Throughout operation, the hydrogen-powered fuel cells provided 24/7, zero-carbon electricity at efficiency levels exceeding expectations.
To learn more about the company’s commitment to a zero-carbon future, visit: https://www.bloomenergy.com/technology/powering-the-future/
For more information on Bloom Energy’s sustainability efforts, visit: https://www.bloomenergy.com/sustainability/
About Bloom Energy
Bloom Energy’s mission is to make clean, reliable energy affordable for everyone in the world. Bloom Energy’s product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom Energy’s customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws that involve risks and uncertainties. Words such as “anticipates,” “could,” “expects,” “intends,” “plans,” “projects,” “believes,” “seeks,” “estimates,” “can,” “may,” “will,” “would” and similar expressions identify such forward-looking statements. These statements include, but are not limited to, Bloom Energy’s expectations regarding its hydrogen-powered fuel cells and their ability to play a complementary role in advancing the hydrogen economy; expectations regarding the hydrogen economy; expectations regarding the electrolyzer’s ability to aid in optimizing renewables, decarbonizing heavy industries, and fueling the expanding hydrogen economy; and expectations for commercial shipments of the electrolyzer to begin in 2022. These statements should not be taken as guarantees of results and should not be considered an indication of future activity or future performance. Actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, including those included in the risk factors section of Bloom Energy’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 and other risks detailed in Bloom Energy’s SEC filings from time to time. Bloom Energy undertakes no obligation to revise or publicly update any forward-looking statements unless if and as required by law.
Media Contact:
Erica Osian
(401) 714-6883
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations:
Edward Vallejo
(267) 370-9717
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.