Newest Product Line Improves Performance & Sustainability Across the Energy Sector
IRVING, Texas--(BUSINESS WIRE)--Alkegen today introduces its latest innovation to market with FlexCat Defend, a new line of disc-shaped catalytic substrate product forms for use in applications throughout the energy sector.
“Our new FlexCat™ Defend product line gives producers throughout the energy sector a convenient and customizable drop-in solution that shields their PGM catalysts from the fines and poisons that contribute to costly inefficiencies and shutdowns, maximizing yield while using existing equipment,” said Chad Cannan, SVP. “Testing with industry partners has exceeded our early lab results, making FlexCat™ Defend a compelling solution for any industry partner looking to use less product, reduce waste, and add yield. More profitable operations for our customers and a more sustainable world for all is the kind of win-win Alkegen is delivering across our specialty materials platform.”
Replacing traditional pellets, extrudates and sponges, FlexCat™ Defend delivers better overall throughput and performance over existing catalyst technologies in addition to improved employee safety. The advanced performance of this innovative catalyst substrate is due to Alkegen’s novel FlexCat™ fiber-based chemistry which delivers up to 50% greater specific surface area and a unique tortuous path that enhances catalytic activity all in a compact, lightweight package.
“FlexCat Defend is another great example of the many unique and innovative shape options available with FlexCat. This customizable form can be made with multiple disc shapes and hole patterns to meet our customers’ specific application and pressure drop requirements,” said Ashley Cuthbertson, Senior Director of Catalysis Technologies. “This is the first product form to launch from the extensive FlexCat™ product portfolio we have been building towards as we cement our position as a valued innovation and sustainability partner to our customers in the energy sector for many years to come.”
To learn more on how the custom drop in solution enhances catalyst activity visit Alkegen.com/flexcat-defend.
For more information about Alkegen, visit www.alkegen.com.
About Alkegen
Alkegen, formerly Unifrax and Lydall Materials, creates high performance specialty materials used in advanced applications including electric vehicles, energy storage, filtration, fire protection and high-temperature insulation, among many others. Alkegen is vertically integrated across multiple process technology platforms designed with the ultimate goal of saving energy, reducing pollution, and improving safety for people, buildings and equipment by delivering on our mission of helping the world breathe easier, live greener and go further than ever before. Alkegen has 75 manufacturing facilities operating in 12 countries and employs 9,000+ employees globally. More information is available at www.alkegen.com.
Kristen Weiss
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352.424.3169
SAN JOSE, Calif. & SAINT-NAZAIRE, France--(BUSINESS WIRE)--In their first major marine deployment, Bloom Energy (NYSE:BE) fuel cells demonstrated a significant increase in electrical efficiency on a luxury cruise ship built by Chantiers de l’Atlantique (CdA). Bloom and CdA have also announced that they have signed a memorandum of understanding to collaborate on developing future multi-MW installations on board marine vessels.
The 150kW solid oxide fuel cell platform provided auxiliary power to the ship, the MSC World Europa operated by MSC Cruises, while in port using liquefied natural gas (LNG), one of the cleanest marine fuels available. The MSC World Europa was docked in Qatar in November and December for the 2022 World Cup.
The Bloom Energy Server™ demonstrated 60% electrical efficiency while the ship was in port, a significant improvement over existing high-efficiency power systems, as well as a reduction of carbon emissions by 30% with no methane slippage. Lower carbon emissions and higher efficiency will be critical to ship operators while their vessels are in port.
“Bloom Energy fuel cells have shown their effectiveness in decarbonizing land-based industries,” said Suminder Singh, senior director, marine, for Bloom Energy. “With the deployment by Chantiers de l’Atlantique, we have now proven that they will be effective in decarbonizing shipping, both in port and on the high seas.”
“We are firmly committed to leading the shipbuilding industry in its transition to a more environmentally friendly future,” said Laurent Castaing, general manager, Chantiers de l’Atlantique. “The in-port performance of Bloom Energy’s fuel cells shows that we have charted the right course to making this a reality. We look forward to having Bloom Energy on board for the future.”
Using Bloom fuel cells for so-called hoteling power sharply reduces in-port pollution, an important step towards the goal of the International Maritime Organization (IMO) to reduce shipping’s greenhouse gas emissions by half compared to 2008 levels. Bloom’s future-proof platform is IMO 2040- and 2050-ready, with the ability to operate on LNG, blended hydrogen, ammonia, and hydrogen. The Energy Server platform has passed two critical safety reviews, the American Bureau of Shipping’s New Technology Qualification Process and Bureau Veritas.
While the MSC installation was geared towards proving the efficacy of Bloom system’s in-port operations, the fuel cells, which had undergone rigorous tilt-table testing, also achieved full power output during the vessel’s maiden voyage between Saint-Nazaire and Qatar while in the Mediterranean Sea.
Bloom is working with our customers to design fuel cell-based power delivery architecture that will operate in engine parallel mode, while the ship is sailing, and transition hotel loads 100% to fuel cells when the ship is docked at the port.
For more information about Bloom Energy’s clean energy leadership in the marine transport market, visit
https://www.bloomenergy.com/marine/
Forward-Looking Statements
This press release contains certain forward-looking statements that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will” and “would” or the negative of these words or similar terms or expressions that concern Bloom’s expectations, strategy, priorities, plans or intentions. These forward-looking statements include, but are not limited to, Bloom’s expectations regarding collaboration with Chantiers de l’Atlantique (CdA), including plans to install solid oxide fuel cells on future CdA vessels, any expected benefits from the collaboration with CdA, such as carbon emissions reductions, increased energy efficiency, pollution reduction, greenhouse gas reduction or satisfying any clean energy or power savings requirements by IMO or other regulatory agencies, progress towards any net-zero emissions, decarbonization or energy independence goals, passing safety reviews, future platforms and regulations, future power delivery architecture and Bloom’s long-term commitment to particular regions, policies or imperatives. More information on potential risks and uncertainties that may impact Bloom’s business are set forth in Bloom’s periodic reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022 and September 30, 2022, filed with the SEC on May 6, 2022, August 9, 2022 and November 3, 2022, respectively, as well as subsequent reports filed with or furnished to the SEC from time to time. Bloom assumes no obligation to, and does not currently intend to, update any such forward-looking statements.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com.
About Chantiers de l’Atlantique
Thanks to the expertise of its teams and its network of subcontractors, associated with a first-rate industrial facilities, Chantiers de l’Atlantique is a key leader in the fields of design, integration, testing and turnkey delivery of cruise ships, naval vessels, electrical substations for offshore wind farms and services to the fleets. The company is at the heart of the challenges of tomorrow, designing and building today ships whose environmental performance exceeds the most drastic standards, as well as equipment for offshore wind power that make it a major player in the energy transition. For more information, visit www.chantiers-atlantique.com.
Media Contact:
Virginia Citrano
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Investor Relations:
Ed Vallejo
267.370.9717
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Media Contact
Gontier, Yann
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Order Pushes Total EaaS Rental Contracts to More Than 50 MW
LOS ANGELES--(BUSINESS WIRE)--$CGRN #CleanPower--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green energy solutions, continues to grow in the Energy-as-a-Service (EaaS) market with newly secured order for a C1000S microturbine rental package for a leading global oil and gas technology company. The order will be deployed in an Ecuadorean oil field in early April.
“This recent order for a Capstone microturbine in Ecuador means that over the past three months, we have made sales, directly and in partnership with our distributors, on four continents. The value of Capstone technology is being recognized and used worldwide for its reliability under harsh conditions in remote settings, for the environmental benefits compared to legacy turbine technology, and its modular design, which allows customers to scale the product to suit their needs for on-site power generation,” said Darren Jamison, Capstone Green Energy’s President and CEO.
The 1 MW solution will be installed in a remote oilfield in the Ecuadorean jungle and will replace an existing diesel generator and produce clean and reliable electricity using associated gas directly from the pipeline. The power generated by the microturbines will provide 100 percent of the electricity needed to power on-site surface production equipment and the pump station.
The oilfield operators selected Capstone’s microturbine technology for its high reliability in the field as well as their ability to significantly reduce operational costs and flare emissions. Operators wanted a modular, reliable, and cost-effective solution to replace their high-maintenance genset. The microturbines, which have only one moving part and use no lubricants, are a low-maintenance solution, which is a key benefit given the site’s remote location.
“Capstone microturbine solutions are an ideal choice for oil and gas operators due to their low maintenance and high reliability. Microturbines can use associated natural gas as an input fuel source with minimal gas pre-treatment. This allows oil and gas customers to monetize the associated gas, keep operational costs low by avoiding extra fuel-cleaning equipment, and reduce any negative impact on the local environment,” concluded Gorgui Ndoye, Director of Business Development for Capstone Green Energy.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.
To date, Capstone has shipped over 10,000 units to 83 countries and estimates that in FY22, it saved customers over $213 million in annual energy costs and approximately 388,000 tons of carbon. Total savings over the last four years are estimated to be approximately $911 million in energy savings and approximately 1,503,100 tons of carbon savings.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it..
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding growth and liquidity expectations and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and departures and other changes in management and other key employees. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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AUSTIN, Texas--(BUSINESS WIRE)--#energy--Infinity Water Solutions (Infinity), a sustainability and water management company based in Austin, Texas, has reached an unprecedented scale with new agreements covering substantial volumes of recycle-and-reuse water in the Delaware Basin in New Mexico.
Anchoring this is a multi-year contract with major Permian operator XTO Energy, an ExxonMobil subsidiary. The agreement, which expands XTO’s portfolio of water management initiatives in the Permian Basin, is intended to preserve millions of barrels of water resources while also reducing downhole disposal.
“Our commitment to water stewardship is unwavering,” said Michael Dyson, Infinity’s Chief Executive Officer. “By alleviating the industry’s need to depend on brackish water, Infinity is accelerating conservation rates and increasing New Mexico’s water security, sustainability and resiliency, a vision we’re materializing with each new contract.”
As a pure-play recycler, Infinity operates within a closed-loop water management system, meaning 100% of the water gathered at its flagship Mills Ranch 1 facility – including XTO’s produced water – has been successfully recycled and redistributed back into the oil and gas industry in New Mexico to avoid withdrawal from natural water resources.
“This collaborative work with Infinity is part of ExxonMobil’s ongoing efforts to seek industry leading performance on water management in the Permian, including a continued focus on increasing water recycling and sharing,” said David Scott, General Manager of ExxonMobil’s Permian Basin business unit. “As a leading operator in the Permian Basin, we are working to do our part and collaborating with others to help safeguard New Mexico and West Texas water sources.”
To date, Infinity has gathered more than four million barrels of produced water, and successfully delivered similar volumes of recycled produced water back to a variety of major operators across the Permian, some up to 22 miles away from Infinity facilities. This is notable given the geography of the Permian Basin, and a sizable demonstration of just how far the infrastructure network and demand for water sharing have come.
An innovator in the energy industry, Infinity is reimagining the production process, bookending the way water is managed on both the gathering and sourcing sides. Using its 360-degree, zero-liquid discharge approach, Infinity treats and reuses 100% of what it gathers (less evaporation).
“It’s common to tout capacity, but far more difficult to demonstrate delivery in a dynamic market,” said Dyson. “That’s what makes this milestone so significant. We have meaningfully demonstrated on-demand reliability. We have consistently delivered the water quality at the industrial volumes our customers need.”
Since commissioning its flagship facility at Mills Ranch 1 in 2022, Infinity has invested heavily in a robust water-sharing network covering more than 150,000 acres across Eddy and Lea Counties in New Mexico. Its current throughput capacity is more than 125,000 barrels per day and its staging inventory sits at just over 3,000,000 million barrels (125 million gallons). To date, Infinity has treated more than 4,000,000 million barrels (165 million gallons) of water.
For more information, please visit: https://water.energy/
About Infinity Water Solutions
Infinity Water Solutions, LLC. (Infinity) is an Austin, Texas-based sustainability company focused on green infrastructure and water recycling in the Permian Basin. A pioneer in the energy Industry, Infinity is reshaping how operators gather, recycle, stage and source (on demand) water for production. Its closed-loop, 360-approach and comprehensive water-sharing network offers unbeatable value both in impact and cost, and has accelerated the pace at which many sustainability goals can be met.
Media Contact:
Ashley Kegley-Whitehead
Chief Communications Officer
(512) 660-2898
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HOUSTON--(BUSINESS WIRE)--NRG Energy, Inc. (NYSE:NRG) announced the commencement of an offering of (i) $740.0 million aggregate principal amount of senior secured first lien notes due 2033 (the “Notes”) and (ii) 650,000 shares of Series A Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock (the “Preferred Shares”). The Notes will be senior secured first lien obligations of NRG and will be guaranteed by each of NRG’s current and future subsidiaries that guarantee indebtedness under NRG’s credit agreement. The Preferred Shares will have a $1,000 liquidation preference per share and will not be guaranteed by NRG’s current and future subsidiaries.
NRG intends to use the net proceeds from these offerings to partially fund the purchase price of its previously announced acquisition (the “Acquisition”) of Vivint Smart Home, Inc. (“Vivint”), pursuant to the previously disclosed Agreement and Plan of Merger, dated December 6, 2022, by and among NRG, a subsidiary of NRG and Vivint, and to pay fees and expenses relating to the Acquisition.
The Notes, related guarantees and the Preferred Shares are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, outside the United States, to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act. The Notes, related guarantees and the Preferred Shares have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell any security, including the Notes and the Preferred Shares, nor a solicitation for an offer to purchase any security, including the Notes and the Preferred Shares. NRG does not intend to file a registration statement for the resale of the Notes or the Preferred Shares.
About NRG
NRG Energy is a leading energy and home services company powered by people and our passion for a smarter, cleaner, and more connected future. A Fortune 500 company operating in the United States and Canada, NRG delivers innovative solutions that help people, organizations, and businesses achieve their goals while also advocating for competitive energy markets and customer choice.
Forward-Looking Statements
This communication contains forward-looking statements that may state NRG’s or its management’s intentions, beliefs, expectations or predictions for the future. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, and typically can be identified by the use of words such as “will,” “expect,” “estimate,” “anticipate,” “forecast,” “plan,” “believe” and similar terms. Although NRG believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, risks and uncertainties related to the capital markets generally and whether NRG will offer the Notes and Series A Preferred Shares or consummate the offering, the anticipated terms of the Notes and Series A Preferred Shares and the anticipated use of proceeds.
The foregoing review of factors that could cause NRG’s actual results to differ materially from those contemplated in the forward-looking statements included herein should be considered in connection with information regarding risks and uncertainties that may affect NRG’s future results included in NRG’s filings with the SEC at www.sec.gov.
Investors:
Kevin L. Cole, CFA
609.524.4526
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Media:
Laura Avant
713.537.5437
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Innovative technology enables more efficient, remote inspection of equipment throughout northern Illinois
CHICAGO--(BUSINESS WIRE)--Harnessing advanced technology to enhance operations, ComEd announced that, for the first time, its certified pilots will operate drones remotely from any location across northern Illinois. Using new Skydio Drone Dock technology, ComEd crews will test remote drone monitoring solutions that will enable safe, cost-effective on-site and on-demand surveillance capabilities without dispatching trucks of crews to perform in-person inspections.
“At ComEd we are always looking for ways to improve our customers’ experience and advance our storm recovery efforts. Smarter equipment monitoring is one way to proactively prevent outages and support overall grid performance,” said Terence Donnelly, president and COO of ComEd. “The expansion of our drone program builds upon the innovative work we have done over the last decade to strengthen and modernize our system.”
The Federal Aviation Administration (FAA), which regulates commercial drone operation, permits organizations like ComEd to request operational waivers that allow pilots to remotely operate drones without a visual line of sight. These operational waivers will allow FAA-certified ComEd pilots to use enhanced drones to support routine equipment inspection, enabling utility crews to focus on priority grid repair and improvements.
Remote monitoring by drone will support overall grid performance by increasing ComEd’s ability to rapidly inspect equipment throughout the electric company’s service territory. This will help reduce operations and maintenance costs, while helping identify potential problem areas and prevent power outages before they occur. Remote, off-site flying capabilities will also maximize ComEd’s drone pilots’ efforts by limiting the time they are physically needed in the field.
To support ComEd’s nation-leading resiliency, routine monitoring of equipment is crucial to ensuring all grid assets are operating as intended. ComEd uses drones in a variety of ways, including to inspect power lines and following storms to assess damage and enable crews to more quickly and efficiently restore power. Drone pilots regularly join frontline workers in the field to assist with line and equipment inspection. In 2022, ComEd also began using drones to support vegetation management.
The drones included in ComEd’s Drone Dock program will be equipped with a high-resolution camera and thermography tools. These features will allow the drones to capture extensive data, digital images and video from all angles of grid equipment, which will then be reviewed to help preemptively address future equipment failure based on equipment conditions and environmental factors.
The docking station, manufactured by Skydio, provides a remote housing unit and launch pad for the drones when not in use. Currently, the technology is installed at ComEd’s Chicago Training Center while ComEd pilots are trained to use the new technology; the installation of additional docks is expected later in 2023 at secure locations throughout ComEd’s service territory.
Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 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.
Skydio is the leading U.S. drone manufacturer and world leader in autonomous flight. Skydio leverages breakthrough AI to create the world’s most intelligent flying machines for use by consumers, enterprises, and government customers. Founded in 2014, Skydio is made up of leading experts in AI, robotics, cameras, and electric vehicles from top companies, research labs, and universities from around the world. Skydio designs, assembles, and supports its products in the U.S. from its headquarters in San Mateo, CA, and manufacturing facilities in Hayward, CA, to offer the highest standards of supply chain, manufacturing and data security. Skydio is trusted by leading enterprises across a wide range of industry sectors and is backed by top investors and strategic partners including Andreesen Horowitz, Linse Capital, Next47, IVP, Playground, and NVIDIA.
ComEd
Media Relations
312-394-3500
HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) and its affiliates (“Cactus” or the “Company”) today announced the completion of the acquisition of FlexSteel Holdings, Inc. and certain of its affiliates (“FlexSteel”).
In connection with the acquisition, Cactus amended and restated its existing credit facility to provide for a term loan of $125 million and $225 million in revolving commitments. Upon closing, $30 million has been drawn on the revolving portion of the facility in addition to funding the $125 million term loan.
Scott Bender, President and CEO of Cactus, commented, “We believe the acquisition of FlexSteel offers a unique opportunity for Cactus and enhances our position as a premier manufacturer of spoolable pipe technologies delivered directly to our industry’s end-users. We are excited about the ability to add these specialized products, technologies and associates to the Cactus family.”
About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead, pressure control and spoolable pipe technologies. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for its products and rental items to assist with the installation, maintenance and handling of the equipment. Cactus operates service centers throughout North America and Australia, while also providing equipment and services in select international markets.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “continue,” “potential,” “will,” “hope” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, may contain projections of results of operations or of financial condition, or state other “forward-looking” information. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties, including unanticipated challenges relating to the FlexSteel transaction following the completion of the acquisition. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the Company’s Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Cactus does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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SEATTLE & EUNICE, N.M.--(BUSINESS WIRE)--#MMR--Ultra Safe Nuclear Corporation (USNC), the U.S.-based global leader in the deployment of fourth-generation gas-cooled microreactors, and Urenco USA, operated by Louisiana Energy Services LLC, the only U.S. commercial producer supplying uranium enrichment services, announced an enrichment services supply agreement as part of the fuel supply program for USNC’s Micro-Modular™ Reactor (MMR®).
Ultra Safe Nuclear Corporation will purchase enriched uranium product (EUP) from Urenco USA for use in the manufacture of Tri-structural Isotropic (TRISO) particles and Fully Ceramic Micro-encapsulated (FCM®) fuel via USNC’s planned joint venture with Framatome in the United States. The EUP will be produced and supplied by the Urenco USA uranium enrichment facility located in New Mexico. This purchase marks the first commercial supply of EUP for use in an advanced reactor anywhere in the world.
Terms and details of the supply agreement are commercially confidential and will not be disclosed publicly. This agreement strengthens USNC’s vertical integration across the value chain to maximize competitive advantage and reduce risk by securing sufficient quantities of EUP to support MMR active deployments.
“We’ve been working hard to manage and de-risk the front end of our fuel cycle,” said Kurt Terrani, Executive Vice President at Ultra Safe Nuclear. “With others facing so much uncertainty regarding fuel supply, it is vital to have reliable commercial partners to source, transport, and deconvert our EUP, feeding our fuel factory operations.”
“UUSA is preparing to supply the fuels that will be required by the next generation of advanced reactors,” said Karen Fili, President and Chief Executive Officer at Urenco USA. “By leveraging our U.S. infrastructure and highly skilled workforce, UUSA is well-positioned to supply enriched uranium product to fuel those reactors, as needed by the market and supported by long-term supply agreements.”
This first batch of EUP is slated for delivery to the USNC-Framatome fuel manufacturing joint venture in 2025, coinciding with the start of their TRISO and FCM fuel factory operations. This fuel production capacity will be used to fuel USNC’s MMR deployments with some availability to the wider advanced reactor market.
The MMR Energy System is a fourth-generation nuclear energy system that delivers safe, clean, and cost-effective electricity and process heat to users anywhere. The MMR is being licensed in Canada and the U.S. and will be the first commercially available "nuclear battery." MMR deployments are moving forward, including the projects at Chalk River which is on target for first power in 2026, and the University of Illinois Urbana-Champaign, targeted for first power the following year.
About Ultra Safe Nuclear Corporation
Ultra Safe Nuclear Corporation, a U.S. corporation headquartered in Seattle, is a global leader and strong vertical integrator of nuclear technologies and services, on Earth and in Space. The company produces the Micro-Modular™ Reactor (MMR®), Fully Ceramic Micro-encapsulated FCM® nuclear fuel, and nuclear power and propulsion technologies for space exploration.
The company has active MMR deployment projects at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois Urbana-Champaign. Additional deployments are in development in the United States, Canada, and Europe. Ultra Safe Nuclear is working in collaboration with NASA and the Department of Defense on advanced radioisotope-based power production technology, nuclear thermal propulsion systems and advanced materials using the same foundational inherent and intrinsic safety principles to drive innovation in fuels, materials, and design.
Ultra Safe Nuclear is committed to opening new markets around the world for safe, commercially competitive, clean, and reliable heat and power from nuclear energy. The cornerstone of USNC’s technology is FCM fuel. Based on proven and trusted TRISO fuel particles, FCM enhances safety through proprietary technology to embed TRISO particles in a silicon carbide matrix. Ultra Safe Nuclear is the only privately funded company actively producing TRISO and FCM fuels.
USNC vertical integration captures the entire value chain, from fuel manufacturing to reactor construction and operation, maximizes competitive advantage and reduces risk. Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.
About Urenco USA
Urenco USA (UUSA), operated by Louisiana Energy Services, LLC, is the only operating commercial enrichment facility in the United States. Located in southeastern New Mexico, UUSA plays an essential role in the nuclear fuel supply chain. Our focus is on providing safe, cost-effective and reliable uranium enrichment services for power generation within a framework of high environmental, social responsibility, and corporate governance standards.
UUSA is operated by a dedicated U.S. workforce and regulated by the Nuclear Regulatory Commission (NRC). UUSA is a wholly owned subsidiary of Urenco Enrichment Company Limited, an international supplier of enrichment services and fuel cycle products for the civil nuclear industry, serving utility customers worldwide who provide low carbon electricity through nuclear generation.
As a leader in the nuclear industry, and with over 50 years of expertise in uranium enrichment, Urenco is well-positioned to provide the enrichment services needed to support the latest advancements and innovations in nuclear fuel production. Urenco is committed to continued investment in the responsible management of nuclear materials; innovation activities with clear sustainability benefits, such as nuclear medicine, industrial efficiency and research; and, nurturing the next generation of scientists and engineers.
Visit urencousa.com
Ultra Safe Nuclear Contact
Brian Meeley
Phone: 703.282.0691 (m)
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Urenco USA Contact
Lisa Hardison
Phone: 505.410.8335 (m)
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System-in-Package Yields Compact, Cost-Effective, Faster-to-Market Solution for USB-C PD Adapters and Other Low Power Applications
Transphorm to Showcase in Booth #853 at 2023 Applied Power Electronics Conference
GOLETA, Calif. & HSINCHU, Taiwan--(BUSINESS WIRE)--$TGAN #5G--Transphorm, Inc. (Nasdaq: TGAN)—a pioneer in and a global supplier of high reliability, high performance gallium nitride (GaN) power conversion products—and Weltrend Semiconductor Inc. (TWSE: 2436), the global leader in adapter USB Power Delivery (PD) Controller Integrated Circuits (ICs), today announced the release of their first GaN System-in-Package (SiP).
The WT7162RHUG24A is an integrated circuit designed for use in 45 to 100 watt USB-C PD power adapters charging smartphones, tablets, laptops, and other smart devices. It offers peak power efficiency of greater than 93%. Device samples will be available in the second quarter of 2023.
In addition to bringing a new product to market, this announcement marks another major achievement by Weltrend. This new GaN SiP now shows Weltrend’s commitment to the AC-to-DC power market as they offer a complete system solution using Transphorm’s SuperGaN® technology. For Transphorm, it is another key proof point that validates its GaN devices’ ease of interface and superior performance.
Transphorm will showcase the Weltrend SiP for the first time at the 2023 Applied Power Electronics Conference (APEC) in booth #853. The companies will also release details on the related WTDB_008 65W USB PD Power Adapter Evaluation Board during the event.
“The WT7162RHUG24A is the industry’s first publicly announced SiP using Transphorm GaN. It enables manufacturers to develop a less expensive system solution given fewer components are required and a smaller PCB can be used among other advantages. It also reduces system development time. Effectively, we’re removing design barriers for adapter manufacturers,” said Tony Lin, President, Weltrend. “Notably, this product also allows Weltrend to move into a new market. It is the first-ever SiP for our PWM controllers, validating our commitment to supporting high volume growth sectors. And, with the integration of the GaN FET, we’ve raised the level of performance output. A win for Weltrend, Transphorm, and our mutual customers.”
“The adapter fast charger market is a fast growing segment for GaN adoption today. We are gaining market share and continue to innovate, most recently with this GaN SiP, which allows for even easier use of our GaN devices,” said Primit Parikh, President and COO, Transphorm. “We’re excited to integrate our industry leading SuperGaN platform with Weltrend’s innovative adapter power controller technology. Weltrend has delivered a leading power conversion platform which creates a simple-to-use solution for adapter/fast charger customers that both companies can use to accelerate wins in this market.”
WT7162RHUG24A Specifications and Features
The new SiP integrates Weltrend’s WT7162RHSG08 multi-mode flyback PWM controller with Transphorm’s 240 milliohm, 650 volt SuperGaN® FET. The surface mount device is available in a 24-pin 8x8 QFN package, reducing PCB size. Other key specifications include:
Notable features include:
Feature |
Advantage |
Adjustable turn on/off speed of GaN FET |
Increases flexibility of EMI testing and solution operation |
External VDD linear regulator circuit not required |
Reduces component count |
Reduced package parasitics (inductance, resistance, capacitance) |
Maximizes chip performance |
700V ultra HV Start-up Current pulled directly from Line/Neutral of AC main voltage |
Reduces component count |
Fits in 8x8 QFN package despite PWM chip addition |
Allows for low profile/small system footprint |
Target Applications and Availability
The WT7162RHUG24A SiP is optimized for use in high-performance, low-profile USB-C power adapters for mobile/IoT devices such as smartphones, tablets, laptops, headphones, drones, speakers, cameras, and more.
To sample the device, contact This email address is being protected from spambots. You need JavaScript enabled to view it. for availability updates.
About Transphorm
Transphorm, Inc., a global leader in the GaN revolution, designs and manufactures high performance and high reliability GaN semiconductors for high voltage power conversion applications. Having one of the largest Power GaN IP portfolios of more than 1,000 owned or licensed patents, Transphorm produces the industry’s first JEDEC and AEC-Q101 qualified high voltage GaN semiconductor devices. The Company’s vertically integrated device business model allows for innovation at every development stage: design, fabrication, device, and application support. Transphorm’s innovations move power electronics beyond the limitations of silicon to achieve over 99% efficiency, 40% more power density and 20% lower system cost. Transphorm is headquartered in Goleta, California and has manufacturing operations in Goleta and Aizu, Japan. For more information, please visit www.transphormusa.com. Follow us on Twitter @transphormusa and WeChat @ Transphorm_GaN.
About Weltrend Semiconductor Inc.
Founded in 1989 in the "Silicon Valley of Taiwan", the Hsinchu Science Park, Weltrend Semiconductor, Inc. (TWSE: 2436) is a leading fabless semiconductor company specializing in the planning, design, testing, application development, and distribution of mixed-signal/digital IC products in power supplies, motor controls, image processing, and more across multiple applications. For more information, please visit www.weltrend.com.
The SuperGaN mark is a registered trademark of Transphorm, Inc. All other trademarks are the property of their respective owners.
Heather Ailara
211 Communications
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SACRAMENTO, Calif.--(BUSINESS WIRE)--#CFP--e-Mission Control (eMC), a SaaS solution provider for clean fuel program management, announced that it has expanded its business operations internationally to Canada. e-Mission Control, based in Sacramento and Vancouver, is engaging clients in the Canadian province of British Columbia, which has an active clean fuel program called the Low Carbon Fuel Standard (LCFS). e-Mission Control is also poised to enroll businesses, nonprofits, and public agencies in Canada’s national Clean Fuel Standard, scheduled to launch in July of 2023.
eMC helps hundreds of electric fleets up and down the West Coast of the United States and Canada participate in clean fuel programs that accelerate their transition to electric equipment and vehicles through necessary incentive funding. As a zero-emission evangelist, eMC educates organizations every day on why they should account for the revenue from these long-lasting programs in their TCO analysis and how participation allows them to capture an accurate picture of the greenhouse gas emissions they're displacing by forgoing diesel and gasoline.
Using a proprietary software platform, eMC streamlines the registration of fleets in applicable clean fuel programs such as the British Columbia LCFS and manages all energy consumption data, metering, and reporting requirements. As a one-stop solution, eMC manages credit validation with the government agency overseeing the program and ensures the timely sale of credits and proceeds remittance to eMC partners so they can reinvest in electrification.
“I’m excited to see the advancement of clean fuel programs not only in the United States, but in Canada as well. We have been engaging with owners and operators of fleets in British Columbia that have transitioned their Class 1-8 transportation to electric counterparts and through LCFS participation, they now have a new financial tool to further their electrification goals,” said Todd Trauman, e-Mission Control’s CEO. “Our SaaS solution makes us well-positioned to quickly onboard and manage British Columbia and Canadian entities in their respective clean fuel programs and seamlessly supports the intricacies of all states, provinces, and countries rolling out clean fuel programs in the future,” added Todd.
About e-Mission Control
e-Mission Control is a SaaS company that designs, manages, and executes electricity consumption data platforms and services for forward-thinking on- and off-road vehicle fleet operators. With a specific focus on clean fuel programs in California, Oregon, Washington, and British Columbia, e-Mission Control partners with owners and operators of zero-emission vehicles and equipment at airports, seaports, retailers, grocers, manufacturers, campuses, distribution facilities, municipalities and many others along the West Coast and beyond. For more information about Canadian clean fuel programs or about e-Mission Control, please visit www.e-missioncontrol.ca.
Colleen Harrison
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ANNAPOLIS, Md.--(BUSINESS WIRE)--Hannon Armstrong Sustainable Infrastructure Capital, Inc. (“Hannon Armstrong” or “HASI”) (NYSE: HASI), a leading investor in climate solutions, today announced the appointment of Kimberly A. Reed and Jeffrey A. Lipson to its Board of Directors, effective March 1, 2023.
In connection with these elections, the Board of Directors will consist of 11 members, 9 of whom are independent members. The Board appointed Ms. Reed to serve as a member of the Audit Committee and the Finance and Risk Committee.
“We are delighted to add Kimberly Reed’s talent and perspective to our Board as HASI continues to grow in ambition and scale,” said Jeffrey W. Eckel, HASI Executive Chair. “Kimberly’s demonstrated leadership in resurrecting and running the U.S. Export-Import Bank adds important government and regulatory experience and global connectivity to our Board, as well as another seasoned financial services voice.”
Ms. Reed said, “Hannon Armstrong Sustainable Infrastructure Capital, Inc.— the very first U.S. public company to focus solely on investments in energy efficiency, renewable energy, and other sustainable infrastructure markets and now with more than $9 billion in managed assets — plays a unique and pivotal role in the renewables firmament. HASI is led by a team that collectively brings unparalleled longevity in this rapidly evolving space, and I am confident that my experience leading major public agencies and engaging with diverse businesses across the United States will complement this superior team and the company’s already substantive Board of Directors.”
Ms. Reed currently serves on the Board of Directors of Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK) and Momentus Inc. (NASDAQ: MNTS) and is a distinguished fellow with the Council on Competitiveness.
Ms. Reed served as the first woman chairman of the Board of Directors, president and chief executive officer of the Export-Import Bank of the United States (EXIM) — the nation’s official $135 billion export credit agency — from 2019 to 2021 after being confirmed by the U.S. Senate with overwhelming bipartisan support. As EXIM chairman, she worked to help U.S. companies — including those in the renewable and clean energy and transformational technology sectors —succeed in the competitive global marketplace. Earlier in her career, Ms. Reed was president of the International Food Information Council Foundation, where she worked with multi-national food and agribusiness companies on nutrition, health, and sustainability issues; senior advisor to U.S. Treasury Secretaries Henry Paulson and John Snow; chief executive officer of the Community Development Financial Institutions Fund (CDFI Fund); and counsel to three committees of the U.S. Congress, where she conducted oversight and investigations.
She also currently serves on the American Swiss Foundation Board of Directors, Hudson Institute's Alexander Hamilton Commission on Securing America's National Security Innovation Base, Krach Institute for Tech Diplomacy at Purdue Advisory Council and Indiana University School of Public Health-Bloomington Dean's Alliance.
Recognized as one of the “100 Women Leaders in STEM,” Ms. Reed received the U.S. Department of Defense’s highest civilian award — the Medal for Distinguished Public Service — and is a Council on Foreign Relations life member and National Association of Corporate Directors (NACD) Certified Director. She holds a Juris Doctor from West Virginia University College of Law and a Bachelor of Science in biology and a Bachelor of Arts in government from West Virginia Wesleyan College.
“We also welcome our new CEO, Jeff Lipson, on the Board,” Mr. Eckel added. As previously announced, Jeffrey A. Lipson has transitioned to the role of president and chief executive officer of HASI effective today. Mr. Lipson served as both chief operating officer and chief financial officer of HASI from January 2021 to February 2023, and chief financial officer from January 2019 to December 2020.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) is the first U.S. public company solely dedicated to investments in climate solutions, providing capital to assets developed by leading companies in energy efficiency, renewable energy, and other sustainable infrastructure markets. With more than $9 billion in managed assets, our core purpose is to make climate positive investments with superior risk-adjusted returns. For more information, please visit hannonarmstrong.com or follow us on Twitter and LinkedIn.
Forward-Looking Statements
Some of the information contained in this press release is forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that are subject to risks and uncertainties. For these statements, we claim the protections of the safe harbor for forward-looking statements contained in such Sections. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. When we use the words "believe," "expect," "anticipate," "estimate," "plan," "continue," "intend," "should," "may" or similar expressions, we intend to identify forward-looking statements.
Forward-looking statements are subject to significant risks and uncertainties. Investors are cautioned against placing undue reliance on such statements. Actual results may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include those discussed under the caption “Risk Factors” included in our most recent Annual Report on Form 10-K as well as in other periodic reports that we file with the U.S. Securities and Exchange Commission
Forward-looking statements are based on beliefs, assumptions and expectations as of the date of this press release. We disclaim any obligation to publicly release the results of any revisions to these forward-looking statements reflecting new estimates, events or circumstances after the date of this press release.
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Gil Jenkins
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Custom and resold furniture sellers reap benefits of API integrations, nationwide carrier networks
AUSTIN, Texas--(BUSINESS WIRE)--uShip, the fast, easy, and affordable way to transport large items like furniture, vehicles, and freight, today announced the addition of five new partners to its In-Home Delivery program, including:
uShip In-Home Delivery is designed for online sellers of new, handcrafted, vintage, and refurbished furniture, as well as oversized e-commerce like kayaks, e-bikes, and medical equipment. Sellers can access instant rates, a private first-to-last mile carrier network, blanket-wrap service, dedicated support, automated booking, status updates, and best-in-class shipment protection. In 2022, 268,000 business shipments were listed on uShip.
“Shipping large items, especially furniture of all kinds, can be a black box for emerging and even established online sellers and marketplaces,” said Heather Hoover-Salomon, interim CEO of uShip. “uShip In-Home Delivery digitizes and automates the shipping process so deliveries happen faster and with fewer claims through our nationwide network of independent transporters.”
Use Cases: uShip In-Home Delivery in Action
Nationwide Expansion
AptDeco has integrated with uShip’s pricing, booking, and tracking APIs to quickly accelerate and scale its furniture marketplace to a nationwide buying audience, beyond its Northeast and West Coast origins.
“Establishing a national footprint is key to AptDeco's mission to make it easy, affordable and safe for everyone to participate in furniture circularity, and uShip In-Home Delivery gives us an instant coast-to-coast carrier network to scale our operation," said Ella Tay, VP of Brand Strategy and Partnerships, AptDeco.
Best-in-Class Support
Craze Furniture and Antiques is a family-owned and operated business with furniture covering a wide variety of eras and styles. The team wanted to expand outside its Wake County, N.C., area – and uShip In-Home Delivery helped deliver that growth.
“We needed a partner who had the customer experience in mind – we’re lucky to have found that partner in uShip,” said Craig Kinser, Owner, Craze Furniture and Antiques. “Beyond the instant quotes and seamless checkout, the real shining star of uShip is the support staff. The team has gone above and beyond.”
Shipping Peace of Mind
Jory Brigham Design, an online seller of 100% handcrafted furniture with a focus on timeless aesthetics and sustainable materials, says it feels secure in putting its pieces into the hands of transporters on uShip.
“Our experience with uShip has been impressive,” said Jory Brigham, Owner/President of Jory Brigham Design, Inc. “The customer success managers are VERY helpful and we know the transporters by name. The accountability is priceless – the opposite of what we experienced with past companies.”
White Glove Delivery
TUNE.Studio
Tune Studio sells state-of-the-art performance technology for the nervous system. Tested and proven by NIH and Mayo Clinic, these 100-lb beds tune the body to its optimal state through medical-grade vibrations.
“TUNE decided to work with uShip because having white glove delivery allowed for a better experience for our customers and peace of mind for our company,” said Kyle Godrey-Ryan, founder of TUNE.
Find out more at uship.com/business/in-home-delivery
About uShip
uShip makes it quick, easy, and affordable to ship large or bulky items. From cars to cranes and furniture to freight, our straightforward and transparent platform helps people, businesses, and e-commerce sellers ship with incredible speed and efficiency. Launched in 2004, uShip is based in Austin, Texas. Find out more at uship.com or follow us on Facebook, Twitter, and LinkedIn for the latest updates.
Dean Jutilla
VP, Corporate Communications
uShip
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Vallourec, a top multinational pipe and drilling manufacturer, launches the first eCommerce marketplace for oil and gas producers, opening and speeding up trade for thousands of global business owners
NEW YORK--(BUSINESS WIRE)--Vallourec, a global leader in premium tubular solutions for the energy markets and industrial applications, has selected Balance to power the payments solution for its new online platform, Behub-e, which enables energy and industrial market players from all over the world to interact and transact online. Balance is the top B2B payments experience company that offers the first online checkout built for businesses. In partnership with Balance, thousands of companies in the global energy market will be able to securely facilitate payments online with multiple sellers worldwide. With Balance, Vallourec can reach the widest array of sellers and buyers with a smooth checkout experience that aligns with the ease of everyday online shopping.
“Balance’s B2B net terms, which allow buyers to pay after 30 days, is a game changer. This was a major decision factor for us,” said Geoffroy de Roffignac, Director of Online Business at Vallourec. “Other providers only manage the payment portion, so the ability to include net terms sets Balance apart. Vallourec is continuing to grow our marketplace with this simple, all-in-one checkout experience.”
Payment delays are a considerable pain point for companies with paper-based transactions. In April 2022, Vallourec launched its Behub-e payment solution to offer its B2B customers the ability to transact with the ease of everyday consumers. By partnering with Balance, Vallourec is enabling its customers to leverage all payment methods including credit card, ACH or wire transfers, using net payment terms.
“Balance is proud to elevate industry leaders like Vallourec by offering customers a seamless payment experience,” said Bar Geron, co-founder and CEO of Balance. “A decade ago, people would have said it’s impossible for a smaller company on the other side of the world to purchase parts and equipment from one the world’s largest steel pipe manufacturers. Balance is opening the door to global trade for thousands of buyers and sellers like never before. There is an increasing need for payment solutions with real-time net terms so that customers can enjoy instant payouts and zero risk. Balance is committed to owning the entire B2B checkout experience.”
Vallourec provides benchmark tubular solutions for the energy sectors and other applications — from oil and gas wells in extreme conditions to next-generation power plants, architectural projects and extremely high-performing mechanical equipment. Adapted to the challenges of the 21st century, Vallourec’s comprehensive and innovative solutions are designed for three main markets: oil and gas, low-carbon energy, and industry.
Behub-e is poised to revolutionize the oil and gas industry. Vallourec’s new online marketplace opens its top-tier inventory of steel products and equipment to companies – big and small – from around the world. This partnership will play a valuable role in allowing Vallourec to expand its eCommerce business offerings by reducing friction in the B2B payments process. By combining forces, the supply chain is becoming faster, easier and more accessible for buyers and sellers across the board.
About Vallourec
Vallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Vallourec’s pioneering spirit and cutting-edge R&D open new technological frontiers. With close to 17,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions to make any project possible. For more information, please visit https://behub-e.com/ or follow @behub_e on Twitter.
About Balance
Balance is the first self-serve digital checkout experience company for B2B businesses. By leveraging payments and risk-assessment technology, any B2B company that sells goods online can now offer their buyers a wide range of payment methods (ACH, Card and Wire) and flexible payment terms, and get paid easily and instantly — all in one place. For more information, please visit https://www.getbalance.com/ or follow @GetBalanceHQ on Twitter.
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Morgan Borer
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With projects in California and New York, the fund builds on previous successes with the financiers to grow Renewable Properties’ pipeline of projects across the U.S.
SAN FRANCISCO--(BUSINESS WIRE)--Renewable Properties, a developer and investor in small-scale utility and community solar projects, has closed its Fund 8 portfolio with two financing partners, Nelnet Renewable Energy and AB CarVal. Fund 8 consists of nearly 30 MW of community solar projects in California and New York.
The closing of Fund 8 reflects the company’s strong ties to financing partners that have consistently supported Renewable Properties’ local renewable energy projects and company operations by continuing to commit additional capital year after year.
“AB CarVal and Nelnet have been reliable Renewable Properties partners, enabling us to expand our community solar project portfolio to 15 states,” said Allan Riska, Chief Investment Officer at Renewable Properties. “We are grateful to have two steadfast financing partners and community solar advocates that believe in our mission to drive renewable energy forward for local communities.”
In 2020, funds managed by project loan partner AB CarVal, a global alternative investment manager, invested $60 million to support the expansion of Renewable Properties’ operations. The capital allowed Renewable Properties to further develop its existing community-scale solar project pipeline, expand development efforts into new and existing markets, and secure new project opportunities and acquisitions.
“Renewable Properties has produced an extensive and diverse track record of small-scale utility and community solar projects throughout the U.S.,” said Jerry Keefe, Principal at AB CarVal. “We are pleased to expand our rewarding partnership with Renewable Properties, which continues to demonstrate its capabilities and success in the U.S. community solar market.”
Fund 8 is Renewable Properties’ fourth tax equity fund partnership with Nelnet, a corporate tax equity partner that also has a solar engineering, procurement, and construction and operation and maintenance business.
“With our shared commitment to community solar and providing superior customer experience, Renewable Properties has been an excellent partner for Nelnet through three prior funds,” said Scott Gubbels, President of Nelnet Renewable Energy. “We look forward to continuing to grow our partnership and create a more inclusive clean energy future.”
The Fund 8 projects are located in California and New York, adding to Renewable Properties’ growing pipeline of community solar projects in 15 states. Totaling nearly 30 MW, the projects are expected to produce enough energy to power 4,438 homes per year and offset 35,246 tons of carbon dioxide annually.
Two Fund 8 projects are in Madera County, CA. The Avenue 26 Solar Phase I & II projects will commence construction in the second quarter of 2023 and should be completed by the end of the year. The projects total 11.5 MW and are expected to produce enough energy to power 2,004 homes per year and offset 15,910 tons of CO2 annually.
Unique to California, these two projects are part of California’s Disadvantaged Communities Green Tariff program, which is designed to promote the installation of community solar projects in disadvantaged communities as identified by CalEnviroScreen.
Fund 8’s New York projects are in various stages of development. The Slayton Settlement Solar A & Slayton Settlement Solar B projects in Lockport began construction at the end of 2022 and are expected to be online in October of this year. Two projects in Batavia will commence construction by May 2023 and are expected to be finished by December 2023. The Clemons Road Solar project in Minoa will commence construction in April 2023 and is expected to be operational by end of the year.
Together, the 18.4 MW from New York projects are expected to produce enough energy per year to power 2434 homes and offset 19,336 tons of CO2.
About Renewable Properties
Founded in 2017, Renewable Properties specializes in developing and investing in small-scale utility and community solar and storage energy projects throughout the U.S. Led by experienced renewable energy professionals with development and investment experience, Renewable Properties is active in 15 states and has over 700 MWs of solar under development with over 115 MWs under construction or in operation. Renewable Properties works closely with communities, developers, landowners, utilities, and financial institutions looking to invest in solar energy systems. For more information about Renewable Properties, visit www.renewprop.com.
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SAN ANTONIO--(BUSINESS WIRE)--NuStar Energy L.P. (NYSE: NS) today announced that the 2022 tax packages, which include the Schedule K-1’s for Series A, Series B and Series C preferred units and common units, are available online at www.nustarenergy.com in the Investors section of the website. The partnership expects to begin mailing the 2022 tax packages on March 6, 2023. For additional information, NuStar Energy L.P. unitholders may call K-1 Tax Package Support toll free at (844) 364-7560 for Series A, Series B and Series C preferred units and (800) 310-6595 for common units, weekdays between 8 a.m. and 5 p.m. CT.
NuStar Energy L.P., a publicly traded master limited partnership based in San Antonio, Texas, is one of the largest independent liquids terminal and pipeline operators in the nation. NuStar currently has approximately 9,500 miles of pipeline and 63 terminal and storage facilities that store and distribute crude oil, refined products, renewable fuels, ammonia and specialty liquids. The partnership’s combined system has approximately 49 million barrels of storage capacity, and NuStar has operations in the United States and Mexico. For more information, visit NuStar Energy L.P.’s website at www.nustarenergy.com and its Sustainability page at https://sustainability.nustarenergy.com/.
Investors, Pam Schmidt, Vice President, Investor Relations
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DALLAS--(BUSINESS WIRE)--#Braniff--Dallas-based Braniff Airways, dba Braniff International, announces that the company’s current employees and retirees can join Southwest Airlines Federal Credit Union, marking the first time that any airline’s retirees can join the popular credit union. The new agreement will enable Braniff employees and retirees to open checking accounts and enjoy the low interest rate car and home loans as well as the higher interest-bearing checking accounts offered by Southwest Airlines Credit Union, according to Braniff International Chairman Ben Cass.
Braniff Airways once operated its own credit union for more than 40 years, known as Braniff Airways Federal Credit Union. The credit union continued after Braniff ceased air operations in May 1982 and became DFW Federal Credit Union. The credit union eventually merged with Omni American Federal Credit Union, which was later merged with another credit union, making it difficult for Braniff employees and retirees to have access to banking services. Southwest Airlines FCU services are available online SWACU.org and at their DFW locations.
ABOUT BRANIFF INTERNATIONAL
Braniff Airways, Incorporated, d/b/a Braniff International, the former international airline, is now a leading global historic airline branding and marketing, online retail and historic airliner tour firm and hotelier, which was originally formed in 1928. Braniff manages a portfolio of licensing agreements worldwide. The company operates its lucrative Braniff Boutique Online Retail store www.braniffboutique.com that sells to 120 plus countries worldwide along with three brick and mortar stores. Braniff also administers its original Employee/Retiree Airline Pass Benefits Program, which offers current and former employees discount travel on partner airlines and travel companies.
Braniff Airways supports Braniff Airways Foundation, which is the official repository for Braniff's historical corporate and employee records, photographs and negatives and memorabilia. Over 100 million pages of Braniff corporate documents and 40,000 historical items are preserved in the Foundation's Braniff International Heritage Archives, which are housed at three locations in Dallas, Texas, and the company’s records retention facility in Arkansas
Braniff Airways has created an endowment at The University of Texas at Dallas to support the Space Sciences Department. An additional endowment has been created to support the administration of Braniff International Heritage Archives.
For more information: www.braniffinternational.com
Jessica Martin
Braniff Airways, Incorporated
Braniff International
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MIAMI--(BUSINESS WIRE)--Life at Sea Cruises announced today they are accepting reservations for the world’s first - and only – three-year world cruise. The voyage will cover more than 130,000 miles, visiting 375 ports across 135 countries and seven continents.
Set aboard the beautifully revitalized MV Gemini - which boasts 400 cabins and room for up to 1,074 passengers - cruisers will enjoy the best of living and working at sea. The ship features traditional amenities including world-class dining, onboard entertainment and recreational activities, with modern workspace facilities such as a first-of-its-kind business center with meeting rooms, 14 offices, a relaxing lounge and business library. The ship will also include a 24-hour on-call hospital with free medical visits, learning and enrichment classes and the opportunity to make a positive impact through volunteer and philanthropic initiatives.
“Professionals need connectivity, the right amenities and the functionality to perform their jobs. There is no other cruise that offers this sort of flexibility to their customers” says Mikael Petterson, Managing Director of Life at Sea Cruises.
With prices starting at $29,999 per year, and payment options from $2,499 per month all-inclusive, cabins range from 130 sq ft for Virtual Inside and Oceanview staterooms to 260 sq ft Balcony Suites. All residents will enjoy amenities including a state-of-the-art wellness center, sundeck and swimming pool, auditorium and multiple dining options. Cruisers may also enjoy additional tax benefits when working as an international resident aboard the ship.
“Life at Sea Cruises offers the ultimate bucket list cruise without having to sacrifice the comforts of home,” says Irina Strembitsky, Director of Sales & Marketing of Life at Sea Cruises. “It’s your home at sea with the world as your backyard.”
Each stop on the MV Gemini itinerary - which includes 13 of the Wonders of the World - plans for multiple days in port, allowing travelers the opportunity for exploration at their own pace. Life At Sea Cruises is a world cruise product offered by Miray International, known for providing high quality hospitality services to cruise companies worldwide for nearly three decades.
The MV Gemini will begin its three-year voyage on November 1st, 2023, from Istanbul (with pickups in Barcelona and Miami). Reservations are currently open for booking at LifeAtSeaCruises.com or by calling 954-379-8221.
Megan Harris, The Tropical Agency
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TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that it plans to release fourth quarter results before market opens on Thursday, March 9, 2023.
The Company will host a conference call to discuss its fourth quarter and full year 2022 results at 9:30 a.m. Eastern Time (“ET”) on Thursday, March 9, 2023.
To access the call, participants should dial (844) 200-6205 for domestic callers and (929) 526-1599 for international callers and enter Access Code 076865. Please dial in ten minutes prior to the start of the call.
A live webcast of the conference call will be available from the Investor Relations section of the Company’s website at www.osg.com.
An audio replay of the conference call will be available for one week starting at 11:30 a.m. ET on Thursday, March 9, 2023, by dialing (866) 813-9403 for domestic callers and (929) 458-6194 for international callers and entering Access Code 798578.
About Overseas Shipholding Group, Inc.
Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 21 vessel U.S. Flag fleet consists of three Suezmax crude oil tankers doing business in Alaska, two conventional ATBs, two lightering ATBs, three shuttle tankers, seven MR tankers, and three non-Jones Act MR tankers, two of which participate in the U.S. Maritime Security Program, and one tanker in cold layup.
OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.
Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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RIDGEWOOD, N.J.--(BUSINESS WIRE)--In Q4 2022, Scale Microgrids (“Scale”) acquired a portfolio of distributed generation solar projects from a leading solar asset owner. The portfolio of operating assets consists of 13 ground-mount and rooftop solar projects, across 23 sites. Through this geographically diverse acquisition, Scale will now own and operate assets in New Jersey, Colorado, North Carolina, Oregon, Pennsylvania, Delaware and expand its portfolio in California.
“This acquisition adds diversification to our operating asset base, accelerates customer acquisition and opens several new markets. Additionally, it will contribute to our company’s vision of powering the world with distributed energy.” said Julian Torres, Chief Investment Officer at Scale Microgrids.
With this acquisition, Scale adds to its growing portfolio of green, behind the meter assets, providing value to a diverse range of customers including large corporations such as FedEx, as well as higher education institutions including Colorado State Pueblo University.
The transaction was executed through LevelTen Energy’s Asset Marketplace, a platform that connects clean energy project developers and financiers, and provides the software, analytics and M&A transaction expertise they need to execute transactions quickly.
“With this large portfolio of projects, Scale Microgrids is continuing to bring more sustainable, reliable and affordable power to the grid, and LevelTen Energy is excited to have assisted in through providing the connection that made the acquisition possible with our Asset Marketplace,” said Patrick Worrall, Vice President of Asset Marketplace, LevelTen Energy.
About Scale Microgrids
Scale is a vertically integrated distributed energy platform, with a core focus of designing, building, financing, owning and operating cutting-edge distributed energy assets that offer cheaper, cleaner, and more resilient power. Their team of energy and financing experts accelerate growth in distributed energy projects by providing financing to technology providers, energy developers, and OEMs, while also directly helping large energy-consuming customers to take charge of their energy infrastructure and future-proof their businesses. To learn more about Scale Microgrids visit https://www.scalemicrogrids.com/
Media:
Nicole Green
Director, Marketing and Branding
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HANAU, Germany--(BUSINESS WIRE)--#FusionEnergy--Please replace the release with the following corrected version due to multiple revisions.
The updated release reads:
THE EUROPEAN GAUSS FUSION INITIATIVE SEEKS TO USE MAGNETIC FUSION TO ENSURE A CLEAN AND SAFE ENERGY SUPPLY
Gauss Fusion GmbH is a greentech venture founded in 2022 by various European companies from Germany, France, Italy and Spain with extensive experience in fusion technology. In February 2023, Gauss Fusion completed a founders’ pre-seed financing round with €8 million in initial capital, marking a first milestone on the way to a clean and secure energy source to complement renewable energies.
The Gauss Fusion Initiative has set itself the goal of bringing the first European GW-class (electric) fusion power plant (Gauss GIGA fusion power plant) online by 2045. The initiative is characterized by its strong industrial leadership and close cooperation with renowned European research institutes and experienced technology experts, including the Max Planck Institute for Plasma Physics (IPP) and the Karlsruhe Institute of Technology (KIT). At present, fusion energy is primarily being developed within the framework of international state-financed large-scale projects. Gauss Fusion now offers support to this process, which has the potential to accelerate the development of clean fusion energy generation “at venture speed” thanks to efficient structures. Gauss Fusion is a proponent of an entrepreneurial path to a considerable acceleration of fusion energy in a close “public-private partnership” (PPP) with national and European institutions.
Developing clean and safe energy sources for a modern “net-zero” society is a key challenge of our time. The entirety of the energy supply cannot be covered by renewable energies alone, not least because of the space requirements and the natural fluctuations in the generation of solar and wind energy. A supplementary energy source is needed that delivers the base load cleanly, safely, reliably and efficiently, and allows the continuous production of green hydrogen.
Under its motto of “Fusion with Integrity”, Gauss Fusion is pursuing the ambitious but realistic goal of providing green energy through magnetic fusion – without raising any false expectations. Dr. Frank Laukien, co-founder and Chairman of the Advisory Board of Gauss Fusion GmbH, is all too aware of this: “To develop a European magnetic fusion power plant – and not just a pilot or demonstration plant – by 2045 is an ambitious but realistic goal that we can achieve not only thanks to our advanced technology, but also through our public-private partnership approach. We expect synergies to emerge from our industrial organizational structure and the cooperation with excellent scientists and institutes with substantial experience in magnetic fusion and plasma physics.”
The close cooperation between industry and science also has won over Prof. Sibylle Günter, scientific director of the IPP: “We look forward to working with Gauss Fusion to help build a fusion power plant as quickly as possible. We are delighted that industrial companies and investors in Germany and Europe now also want to promote fusion energy. This can greatly speed up our journey to a magnetic fusion power plant.”
Frédérick Bordry, former Director of Accelerators and Technology and Honorary Member of CERN, adds: “Fusion on the Sun has been taking place for more than 4.5 billion years and is essential for life on earth. Reproducing it and controlling it in power plants would give us access to an important and sustainable source of decarbonized energy. Decisive progress has recently been made in the field of fusion energy, and I am confident that Gauss Fusion will significantly accelerate integration of the technologies needed to build a grid-connected power plant. It will be the result of an alliance of leading industries, scientists and institutes. Such a power plant could be operational as early as 2045 and I am proud and honored to chair the Gauss Fusion Strategic and Scientific Advisory Board.”
Fusion energy is gaining relevance in political discourse in the EU
Ever since scientists in the US made an historic breakthrough in fusion in mid-December last year, when more energy was produced than consumed for the first time ever by fusing hydrogen isotopes, fusion has become the focus of political attention as a clean and safe source of energy. The German Federal Ministry of Education and Research is also leading the way in this regard and wants to increase its involvement in fusion research.
At the same time, Gauss Fusion will work together with renowned magnetic-fusion scientists and engineers in an initial exploratory and research phase on the necessary industrialization, maintenance and safety concepts, in order to then start with the design and development of the commercial prototype of a GW-class (electric) fusion power plant in phase 2.
Frank Laukien: “I’m pleased that many political decision-makers in Germany, in other European countries, and the EU have recognized the opportunities offered by fusion energy, as we can see from the recent joint statement by Federal Chancellor Olaf Scholz and French President Emmanuel Macron, made on the occasion of the 60th anniversary of the signing of the Élysée Treaty. In addition, we expect leading partners from the energy industry to join the Gauss Fusion initiative in the near future.”
About Gauss Fusion:
Gauss Fusion GmbH was founded in 2022 with locations in Germany and is planning to expand to other European countries over time, with the aim of dramatically accelerating the most advanced developments in high-field magnetic fusion, and subsequently the first fusion power plants on the grid. Founding companies and strategic partners from the fusion technology industry are Alcen (France), ASG Superconductors (Italy), Bruker EAS (Germany), IDOM (Spain), and RI Research Instruments (Germany). Co-founder and Executive Chairman is the German-American dual citizen Dr. Frank Laukien, President and CEO of the international Bruker Corporation. In addition to the Advisory Board, which is made up of founders’ representatives, a Strategic & Scientific Advisory Board (SSAB) made up of renowned European scientists and fusion experts will support the development of fusion technology and the Gauss fusion power plant.
For more information, see:
Gauss Fusion – Leading Europe to build Fusion Power Plants (gauss-fusion.com)
Gauss Fusion: Overview | LinkedIn
Media:
Martina Rauch
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Mobile: +49 170 71 41 856
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