Company Engages Greenhill to Explore Strategic Alternatives
ATLANTA--(BUSINESS WIRE)--Williams Industrial Services Group Inc. (NYSE American: WLMS) (“Williams” or the “Company”), an infrastructure and maintenance services company, today released certain preliminary financial results for its full year ended December 31, 2022. The following performance metrics have not yet been audited:
“Based on our preliminary results, Williams ended the year underperforming our most recent guidance parameters,” said Tracy Pagliara, President and CEO of Williams. “This was largely because an additional $6 million write-down in the fourth quarter was deemed necessary for our two largest remaining Florida water contracts, which we have discussed in the past. These two projects are scheduled to be completed in the second and third quarter of 2023, respectively. The Company is no longer pursuing large fixed price water projects.
“Notwithstanding these discrete and temporary execution issues, there continues to be substantial funding strength and sizable budgets across our end markets. Nuclear power is at an inflection point, bolstered by the global push for decarbonization and governments’ focus on energy security and independence. This is exemplified in the US through the Infrastructure Act’s $6 billion of expenditures for extending the lives of nuclear plants and the Inflation Reduction Act’s estimated potential $30 billion of production tax credits for existing nuclear facilities – making this energy source cost competitive relative to renewables. The Company’s other major end markets, including power and T&D, are also well funded under the Infrastructure Act, with approximately $30 billion allocated to strengthening the electrical grid.
“Even as our backlog was largely stable during the quarter – boosted by a recent nuclear maintenance contract award – we have engaged Greenhill & Co., LLC, an investment banking firm, to explore a range of strategic alternatives for the Company to maximize shareholder value, which could include a potential sale. After facing numerous headwinds last year, we remain dedicated to pursuing the course of action which results in the highest returns going forward.”
The Company has not set a timetable for the conclusion of this review, nor has it made any decisions related to any further actions or possible strategic alternatives at this time. There can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction, or that any strategic alternative identified, evaluated and consummated will provide the anticipated benefits or otherwise preserve or enhance stockholder value. The Company does not intend to comment further on its review of strategic alternatives until it determines that further disclosure is appropriate or necessary.
Final audited results are expected to be released on or about March 31, 2023. Separately, Williams disclosed that it has amended its existing senior secured credit facilities to provide covenant and liquidity relief and has secured additional subordinated debt funding which, together with the relief obtained under its senior secured credit facilities, is intended to permit the Company to operate while it engages in its process to explore strategic alternatives. Additional information can be found in the Company’s filings with the SEC.
*See the Company’s prior filings for important disclosures regarding Williams’ use of Adjusted EBITDA, as well as a reconciliation of income (loss) from continuing operations to Adjusted EBITDA.
About Williams Industrial Services Group
Williams Industrial Services Group Inc. has been safely helping plant owners and operators enhance asset value for more than 50 years. The Company provides a broad range of building, maintenance and support services to infrastructure customers in the energy, power and industrial end markets. Williams’ mission is to be the preferred provider of construction, maintenance, and specialty services through commitment to superior safety performance, focus on innovation, and dedication to delivering unsurpassed value to its customers. Additional information can be found at www.wisgrp.com.
Forward-looking Statement Disclaimer
This press release contains "forward-looking statements" within the meaning of the term set forth in the Private Securities Litigation Reform Act of 1995. The forward-looking statements include statements or expectations regarding the Company’s preliminary full-year results, the outcome of the Company’s review of strategic alternatives, including a potential sale, ability to generate positive returns, to contain margin reductions within the Florida business, build and diversify its backlog and convert backlog to revenue, and realize opportunities, future demand for the Company’s services, including the potential impact of energy security and independence initiatives, the Infrastructure Act and the Inflation Reduction Act on the Company’s end-markets, the Company’s funding levels and ability to continue operations, and expectations regarding future revenues, cash flow, and other related matters. These statements reflect the Company’s current views of future events and financial performance and are subject to a number of risks and uncertainties, including implementation of the Company’s liquidity plan and its ability to continue as a going concern, the Company’s level of indebtedness and ability to make payments on, and satisfy the financial and other covenants contained in, its amended debt facilities, as well as its ability to engage in certain transactions and activities due to limitations and covenants contained in such facilities; its ability to generate sufficient cash resources to continue funding operations, including investments in working capital required to support growth-related commitments that it makes to customers, and the possibility that it may be unable to obtain any additional funding as needed or incur losses from operations in the future; exposure to market risks from changes in interest rates; the Company’s ability to obtain adequate surety bonding and letters of credit; the Company’s ability to maintain effective internal control over financial reporting and disclosure controls and procedures; the Company’s ability to attract and retain qualified personnel, skilled workers, and key officers; failure to successfully implement or realize its business strategies, plans and objectives of management, and liquidity, operating and growth initiatives and opportunities, including any expansion into new markets and its ability to identify potential candidates for, and consummate, acquisition, disposition, or investment transactions (including any that may result from the Company’s review of strategic alternatives); the loss of one or more of its significant customers; its competitive position; market outlook and trends in the Company’s industry, including the possibility of reduced investment in, or increased regulation of, nuclear power plants, declines in public infrastructure construction, and reductions in government funding; costs exceeding estimates the Company uses to set fixed-price contracts; harm to the Company’s reputation or profitability due to, among other things, internal operational issues, poor subcontractor performance or subcontractor insolvency; potential insolvency or financial distress of third parties, including customers and suppliers; the Company’s contract backlog and related amounts to be recognized as revenue; its ability to maintain its safety record, the risks of potential liability and adequacy of insurance; adverse changes in the Company’s relationships with suppliers, vendors, and subcontractors, including increases in cost, disruption of supply or shortage of labor, freight, equipment or supplies, including as a result of the COVID-19 pandemic; compliance with environmental, health, safety and other related laws and regulations, including those related to climate change; limitations or modifications to indemnification regulations of the U.S.; the Company’s expected financial condition, future cash flows, results of operations and future capital and other expenditures; the impact of unstable market and economic conditions on our business, financial condition and stock price, including inflationary cost pressures, supply chain disruptions and constraints, labor shortages, the effects of the Ukraine-Russia conflict and ongoing impact of COVID-19, and a possible recession; our ability to meet expectations about our business, key metrics and future operating results; the impact of the COVID-19 pandemic on the Company’s business, results of operations, financial condition, and cash flows, including global supply chain disruptions and the potential for additional COVID-19 cases to occur at the Company’s active or future job sites, which potentially could impact cost and labor availability; information technology vulnerabilities and cyberattacks on the Company’s networks; the Company’s failure to comply with applicable laws and regulations, including, but not limited to, those relating to privacy and anti-bribery; the Company’s ability to successfully implement its new enterprise resource planning (ERP) system; the Company’s participation in multiemployer pension plans; the impact of any disruptions resulting from the expiration of collective bargaining agreements; the impact of natural disasters, which may worsen or increase due to the effects of climate change, and other severe catastrophic events (such as the ongoing COVID-19 pandemic); the impact of corporate citizenship and environmental, social and governance matters; the impact of changes in tax regulations and laws, including future income tax payments and utilization of net operating loss and foreign tax credit carryforwards; volatility of the market price for the Company’s common stock; the Company’s ability to maintain its stock exchange listing; the effects of anti-takeover provisions in the Company’s organizational documents and Delaware law; the impact of future offerings or sales of the Company’s common stock on the market price of such stock; expected outcomes of legal or regulatory proceedings and their anticipated effects on the Company’s results of operations; and any other statements regarding future growth, future cash needs, future operations, business plans and future financial results.
Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" section of the Annual Report on Form 10-K for its 2021 fiscal year and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. Any forward-looking statement speaks only as of the date of this press release. Except as may be required by applicable law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, and you are cautioned not to rely upon them unduly.
The preliminary selected financial results for the year ended December 31, 2022 in this press release are preliminary, are not a comprehensive statement of financial results for the fiscal year, and are provided prior to completion of all internal and external review and audit procedures and, therefore, are subject to adjustment. Actual results may vary from these estimates, and the variations may be material. Among the factors that could cause or contribute to material differences between the Company’s actual results and expectations indicated by the forward-looking statements are risks and uncertainties that include, but are not limited to, changes to the Company’s financial results for the year ended December 31, 2022 due to the completion of financial closing procedures, final adjustments and other developments that may arise between now and the time that the Company’s financial statements for the fiscal year are finalized and publicly released and other risks and uncertainties described above and in the Company’s filings with the U.S. Securities and Exchange Commission.
Investor Contact:
Chris Witty
Darrow Associates
646-345-0998
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MIAMI--(BUSINESS WIRE)--#communitysolar--Sol-REIT, a structured finance partner to solar developers, has joined the Department of Energy’s National Community Solar Partnership (NCSP) as part of the firm’s commitment to fund greater than $175 million in community solar projects by 2025.
For solar developers with projects at or beyond NTP (notice to proceed), Sol-REIT provides construction capital and/or permanent debt that matches an asset's operational life while significantly reducing underwriting and diligence timelines for commercial, community, and aggregated residential solar projects. The construction-to-permanent financing solution gives solar developers and EPCs the ability to capture the full value chain of the projects they originate or build, meaning more developers can operate more efficiently and without capital constraints. There are no upfront fees and up to and in some cases over 100% of the capital needed to construct projects can be provided.
NCSP is a coalition of community solar stakeholders working on expanding access to affordable community solar to every U.S. household and enabling communities to realize meaningful benefits, such as reduced energy burden, increased resilience, and workforce development.
Sol-REIT’s partnership with the NCSP was announced in advance of the firm’s attendance at the National Community Solar Partnership 2023 Summit on January 19, 2023, in San Diego.
“Community Solar represents a significant piece of our current pipeline while also being a core objective of the developers and EPCs we serve,” suggested Mark Settles, CEO of Sol-REIT. “By joining the NCSP, we are aligning our firm with a group that is focused on increasing access to solar and working collaboratively to reach community solar goals,” continued Settles.
About the National Community Solar Partnership:
The National Community Solar Partnership (NCSP) is a coalition of community solar stakeholders working on expanding access to affordable community solar to every American household and enabling communities to realize other benefits, such as increased resilience and workforce development. The Partnership is a U.S. Department of Energy initiative led by the Solar Energy Technologies Office in collaboration with the National Renewable Energy Laboratory and Lawrence Berkeley National Laboratory. Partners leverage peer networks and technical assistance resources to set goals and overcome barriers to expanding community solar access.
About Sol-REIT
Sol-REIT revolutionizes clean energy financing by providing innovative construction-to-permanent loans for middle-market solar developments across North America. By financing solar similarly to real estate, Sol-REIT offers flexible financing for solar projects that matches the asset's operational life while empowering solar developer entrepreneurs to become long-term owners of their own projects. Sol-REIT currently finances individual solar projects with an average loan size of $5 million to $50 million. For more information, visit https://www.sol-reit.com.
Adam Moskowitz
Head of Marketing & Communications
Sol-REIT
Phone: 203-837-7816
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Coalition Launched with Vision to Implement Plans to Further Enhance Methane Monitoring throughout the Appalachian Basin and Accelerate Opportunities to Reduce Emissions, Underscoring the World-Leading Environmental Attributes of Appalachian Natural Gas
PITTSBURGH--(BUSINESS WIRE)--A group of leading U.S. natural gas operators today launched the Appalachian Methane Initiative (AMI), a coalition committed to further enhancing methane monitoring throughout the Appalachia Basin and facilitating additional methane emissions reductions in the region. Enhancing methane emissions monitoring in the natural gas sector will assist in positioning companies for continued GHG reductions and will further underscore the sustainability proposition of Appalachian natural gas in the global energy system.
The formation of AMI, whose founding members include Chesapeake Energy Corporation, EQT Corporation, and Equitrans Midstream Corporation, brings together two of the top five natural gas producers in the United States and one of the country’s leading midstream service providers.
AMI’s efforts are intended to promote greater efficiency in the identification and remedy of potential fugitive methane emissions from operations in the Appalachian Basin through coordinated satellite and aerial surveys on a geographic-basis, as opposed to an operator-specific basis, and taking into account advanced methane monitoring and reporting frameworks.
The coalition will seek to coordinate and share best practices in mitigating methane emissions from natural gas operations, including production and midstream, and collaborate on activities and monitor results through transparent, publicly available reporting.
“As an industry, we have an important role to play in both meeting global energy needs and reducing climate change risks,” said Chesapeake's President and Chief Executive Officer Nick Dell’Osso. “The AMI coalition offers an opportunity to better measure and understand our emissions profiles as we work to reduce the environmental impact of natural gas production and answer the call for affordable, reliable and lower carbon energy.”
“Appalachia is home to the United States’ richest natural gas basins, which also boast some of the lowest methane emissions intensities in the world. This is an achievement that we have earned through years of environmental commitment, and AMI further builds on this commitment,” said Toby Z. Rice, President and Chief Executive Officer of EQT Corporation. “Applying a basin-wide, sector-agnostic approach to methane monitoring will not only allow accountability for methane emissions from all emitters; we believe it will eliminate any doubt – whether from policy-makers, customers, or the general public – that Appalachian natural gas is the cleanest form of traditional energy in the world. At a time when international coal and associated GHG and methane have reached all-time highs, it is imperative that we recognize Appalachian natural gas for what it is, namely a means of meaningfully reducing global emissions.”
“Sustainability performance is about knowing we, as an industry, are collectively doing the right thing for future generations – serving Americans’ current and increasing needs for reliable, clean-burning energy and supporting our national security and energy independence,” said Diana M. Charletta, Equitrans president and chief operating officer. “As a founding member of AMI, we are excited by the potential to further enhance methane monitoring and measurement across the Appalachian Basin, with the goal of promoting additional emission reductions. Natural gas is and will continue to be an integral component of the global energy portfolio, and we must continue to responsibly develop, produce, and transport our domestic resources to effectively and efficiently transition to a lower carbon future.”
AMI is focused on developing and implementing a pilot monitoring program in 2023 to cover select areas of interest within the major operating footprints of the Appalachian Basin, with the goal of working to develop and implement a full-Basin monitoring plan in 2024.
About Chesapeake Energy Corporation
Headquartered in Oklahoma City, Chesapeake Energy Corporation is powered by dedicated and innovative employees who are focused on discovering and responsibly developing our leading positions in top U.S. oil and gas plays. With a goal to achieve net zero direct GHG emissions (Scope 1 and 2) by 2035, Chesapeake is committed to safely answering the call for affordable, reliable, lower carbon energy.
About EQT Corporation
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. Learn more at eqt.com.
About Equitrans Midstream Corporation
Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.
For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com; and to learn more about our environmental, social, and governance practices visit ETRN Sustainability Reporting.
Cautionary Statements
This news release contains certain forward-looking statements. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this news release include expectations regarding the Appalachian Methane Initiative (AMI), including the potential initiatives thereof and timing and impacts of such initiatives. AMI has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently known by AMI. While AMI considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks and uncertainties, many of which are difficult to predict and beyond AMI’s control.
Any forward-looking statement speaks only as of the date on which such statement is made, and except as required by law, AMI does not intend to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Media Contacts
Chesapeake Energy Corporation
Brooke Coe
Manager - Communications
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405-935-8878
EQT Corporation
Bridget McNie
Director of Communications
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412-720-4500
Equitrans Midstream Corporation
Natalie Cox
Vice President, Communications and Corporate Affairs
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Appoints Industry Veterans Bobby Hollis and Dan McNary to Senior Leadership Roles
SAN FRANCISCO--(BUSINESS WIRE)--Quinbrook Infrastructure Partners (“Quinbrook”), a specialist global investment manager focused exclusively on the infrastructure needed for the energy transition, announced that it has expanded its Rowan Green Data (“Rowan”) platform by internalizing the previously outsourced digital infrastructure management team and hiring senior data center industry veterans Bobby Hollis and Dan McNary into senior leadership roles.
Rowan is now a wholly owned portfolio company of Quinbrook. With a team of three executives assembled with expertise ranging from site selection and permitting, sustainable data center infrastructure design and construction and renewable power solutions, Rowan is positioned for rapid expansion in providing ‘turnkey’ renewables-powered site solutions for data center operators across the US.
Rowan began in 2020 as a joint venture between Quinbrook and Birch Infrastructure which initially set out to deliver low-cost, renewables-powered land solutions to data center operators focused on sustainability and reducing the carbon impact of their operations. Rowan has since expanded the scope of operational capability across a diverse asset portfolio that has rapidly grown to over 20 strategically located host sites across the US. Rowan’s inaugural 800 MW multi-tenant campus in Temple, Texas, is nearing construction completion of the 220 MW first stage, laying a foundation for Rowan to continue development of next-generation, mission-critical, hyperscale data centers powered by renewables in strategically located sites across the country.
“We originally established Rowan to address the new capacity demands from data center operators for optimal host sites that could keep up with hyperbolic growth in data storage yet access low-cost renewable power as well as sustainable solutions in water use. Keeping up with the enormous growth we are seeing in digital storage presents many sustainability challenges given the power and resource intensity of data center operations. Approaching site selection through a sustainability of power and water lens and delivering this critical infrastructure as a service to data center operators, is a fresh take on solving the biggest issues hyperscale operators face today,” said David Scaysbrook, co-founder and managing partner of Quinbrook. “Quinbrook’s ‘doubling down’ on our Rowan strategy is reflective of the keen interest we have received from customers to date and underscores the strength of our conviction to directly address the sustainability challenges faced in the digital age. Attracting experienced data industry veterans in Bobby and Dan to the platform is a strong endorsement of the Rowan strategy.”
Rowan will be headquartered in San Francisco, California. John Lucas, Quinbrook’s Senior Director- Data Strategies, will serve as Rowan’s interim chief executive officer ahead of further senior team appointments to be made over the coming months. Lucas brings significant industry expertise, including renewables procurement, to Rowan, having joined Quinbrook from Amazon Web Services where he was head of renewables and energy procurement and oversaw its renewable power procurement efforts across the Americas.
Bobby Hollis has been appointed as Rowan’s Chief Commercial Officer. Hollis brings over two decades of experience across hyperscale data center and renewable energy project development, power procurement for data centers and energy market law and regulation. He has led the development and procurement of over 10 GW of renewable energy around the globe at several leading companies. In particular, he oversaw a nearly tenfold increase in the scale of Meta's data center capacity and renewable power portfolio, helping solidify Meta as a leader in sustainable data centers. This achievement contributed to his selection by Data Economy as one of the 50 Climate Leaders making important changes in the technology sector in 2019. Prior to Meta, Hollis led the renewable energy efforts at Berkshire Hathaway’s NV Energy, where he was a senior member of the leadership team that directed the utility's exit of coal-fired power and commitment to a tripling of Nevada’s renewable energy generation capacity. Hollis's data center-related experience also includes leading Apple’s efforts to become the first major technology company to achieve 100% renewable energy across its global energy portfolio. Whilst at Invenergy, Hollis was integral to helping the company become at that time, the largest privately held renewable developer in the world.
Dan McNary has been appointed as Rowan’s Chief Operating Officer. McNary has over 25 years of experience with data center site selection, planning, design, construction, and commissioning of a diverse array of data center campus facilities. Most recently, McNary was the president of Constructiv Builders and CEO of PlanNet Consulting where he built and led multi-disciplined engineering and construction teams that have delivered over 10,000 MW of critical infrastructure capacity supporting hyperscale, colocation, and enterprise data centers.
John Lucas, Senior Director of Data Strategies at Quinbrook and Interim CEO of Rowan, said, “The combination of skills and experience Bobby and Dan bring to Rowan is extraordinary. As senior leaders with decades of industry track record, they are exactly what we need to execute Rowan’s strategy at scale and velocity whilst building long-term and trusted relationships with our data center operator customers. I am delighted to have the opportunity to lead this team at this critical growth stage and leverage Quinbrook’s expertise to create a ‘first of its kind’ renewables infrastructure partner for the data center industry.”
About Quinbrook
Quinbrook Infrastructure Partners (http://www.quinbrook.com) is a specialist investment manager focused exclusively on renewables, storage and grid support infrastructure needed to drive the energy transition in the US, UK and Australia. Quinbrook is led and managed by a senior team of power industry professionals who have collectively invested c.USD 8.2 billion of equity in energy infrastructure assets since the early 1990s, representing a total enterprise value of c.USD 28.7 billion or 19.5 GW of power supply capacity. Quinbrook has completed a diverse range of direct investments in both utility and distributed scale onshore wind and solar power, battery storage, reserve peaking capacity, biomass, fugitive methane recovery, hydro and flexible energy management solutions in the US, UK, and Australia. Quinbrook is currently developing and constructing some of the largest renewables and storage infrastructure projects ever undertaken in the US, UK, and Australia.
About Rowan
Rowan Green Data (https://rowandigit.al/) delivers high value host sites for data center operators seeking low-cost renewables power supply and sustainable infrastructure solutions spanning land acquisition, renewable power project development and supply and related critical infrastructure and utilities including sustainable water supply and re-use. Rowan aims to design and configure each site to deliver sustained and long-term competitive land and power cost advantages, provide low-cost renewable power supply and assist hyperscale data center operators in meeting their accelerating carbon reduction and ‘net zero’ targets.
Jennifer Pflieger
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+1 (212) 446-1866
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, will be participating in Renmark Financial Communications Inc.'s live Virtual Non-Deal Roadshow Series to discuss its latest investor presentation on Thursday, January 12 at 1:00 p.m. CT.
The virtual presentation is marketed to Dallas and surrounding areas and will feature Darren Jamison, President and Chief Executive Officer and Scott Robinson, Chief Financial Officer. Capstone welcomes all stakeholders, investors, and other interested individuals to register and attend this live event.
The investor presentation will be followed by a live Q&A. Investors interested in participating in this event will need to register using the links below. As a reminder, registration for the live event may be limited, and access to the replay after the event will be on the Investor Relations section of the Company's website.
Thursday, January 12 at 1:00 p.m. CT
Register Here
To ensure smooth connectivity, please access this link using the latest version of Google Chrome.
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.
About Renmark Financial Communications Inc.
Founded in 1999, Renmark Financial Communications Inc. is North America's leading retail investor relations firm. Employing a strategic and comprehensive mix of exposure tactics; Renmark hosts Virtual Non-Deal Roadshows as well as in-person corporate presentations and maintains daily communications with thousands of brokers and money managers across Canada and the United States. Renmark empowers its publicly traded clientele to maximize their visibility within the financial community and strengthen their investor audience.
Renmark Financial Communications Inc.
Scott Logan: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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Elinor Batteries launches plans for a giga-scale battery factory near Trondheim, Norway. The first production of sustainable batteries from Elinor, based on renewable energy, is set to commence in 2026.
TRONDHEIM, Norway--(BUSINESS WIRE)--The green investment company Valinor has established Elinor Batteries, a gigafactory for sustainable battery production in Orkland, Mid-Norway. The factory will be the first industrial initiative to be hosted by the green industrial site Eiktyr, which will be the largest of its kind in Norway, with an area of 6 square kilometers.
Preparation and construction of the first phase of Elinor Batteries will commence as early as next year, with the first production set in Q2, 2026.
"Battery production on a large scale is essential to succeed with the energy transition," says Lars Helge Helvig, chairman of the Valinor board.
Elinor Batteries is a direct response to the Norwegian government's strategy for developing a complete value chain for battery production in Norway, published this summer.
Valinor has hired Terje Andersen as the CEO of Elinor Batteries. He brings valuable experience from his former position as head of Morrow Batteries, also located in Norway.
As the world moves towards massive electrification, the demand for sustainably produced batteries increases rapidly day by day.
"There are no other places in the world more suitable for producing sustainable batteries than Central Norway," says Andersen.
The area has vast access to Europe's cheapest renewable power. In addition, the tech capital of Trondheim is located only 30 minutes away, providing access to leading R&D resources and a substantial labour market.
Elinor Batteries' products will be based on LFP technology and will not depend on nickel and cobalt.
The gigafactory will be developed in modules to limit financial and technological risks. The first module can start production as early as 2026, with estimated investments of about EUR 1 billion. Three modules are planned towards 2030, and Valinor has funded the project's initial phase. A funding round will take place later in 2023.
Elinor is initially targeting the market for stationary storage of electric energy for buildings, industry and charging stations for electric transportation and marine applications.
Elinor sees potential for creating several thousand jobs in the region when the factory reaches full-scale production.
CEO Terje Andersen
+47 97950707
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HOUSTON--(BUSINESS WIRE)--Kinder Morgan, Inc. (NYSE: KMI) today announced it will release fourth quarter 2022 earnings results on Wednesday, January 18, 2023 after market close and will hold a live webcast and conference call.
What: Kinder Morgan Fourth Quarter ‘22 Earnings Results Webcast
When: January 18, 2023, at 3:30 p.m. CT, 4:30 p.m. ET
Where: http://ir.kindermorgan.com/presentations-webcasts
How: Live over the Internet by logging on to the web at the above address, or by phone (listen-only) by dialing 1-312-470-7383 and entering the passcode 8306241.
If you are unable to listen during the live webcast, the call will be archived at www.kindermorgan.com. A recording of the conference call will also be available for replay one hour after the call until the end of the day on February 18, 2023. To access the replay, please dial 1-203-369-3044 and enter passcode 94028.
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, 140 terminals, 700 billion cubic feet of working natural gas storage capacity and have renewable natural gas generation capacity of approximately 2.2 Bcf per year of gross production with up to an additional 5.2 Bcf in development. 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.
Media Relations
Dave Conover
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Investor Relations
(713) 369-9490
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www.kindermorgan.com
RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised RoadOne IntermodaLogistics (RoadOne), a portfolio company of Nonantum Capital Partners (Nonantum), on its recapitalization by Ridgemont Equity Partners (Ridgemont). RoadOne is a single source intermodal, distribution and logistics services company. The Harris Williams team that advised RoadOne was led by Jason Bass and Nick Petrick of the Transportation & Logistics (T&L) Group.
“We are proud to have partnered with RoadOne multiple times, including on its two most recent transactions. The team there has built an industry-leading platform focused on diverse intermodal, port, distribution, transloading and related services that are integral to the supply chains of demanding blue-chip shippers. The Nonantum team has been a great partner for RoadOne and we look forward to supporting management and its new partner over the years to come,” said Jason Bass, a managing director at Harris Williams.
RoadOne is North America’s premier, full-service intermodal transportation and related logistics company. With locations across the country, RoadOne offers industry-leading solutions including port and rail container drayage; terminal operations; dedicated truckload services; and transloading, warehousing, and distribution solutions. With a fleet of professional drivers and technological streamlining solutions, RoadOne offers an integrated service that is unsurpassed in the industry.
Founded in 2018 by a team of experienced private equity and management executives as a spin-out from Charlesbank Capital Partners, Nonantum is a Boston-based middle market private equity firm. Nonantum focuses on investing in family- and founder-owned businesses, corporate carve-outs, and complex situations where personal partnership is critical and opportunities exist for significant equity value creation.
Ridgemont is a Charlotte, North Carolina-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and tech-enabled services, industrial growth, and healthcare sectors for nearly three decades. The principals of Ridgemont have refined a proven, industry-focused model focused on building distinctive middle market companies.
Harris Williams is a global investment bank specializing in M&A advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies to uncover the unique story of each company. For over 30 years, our clients have trusted us to think strategically, execute precisely, and deliver premium outcomes through M&A.
The Harris Williams T&L Group serves as a trusted partner to investors and company leaders worldwide, helping them to unlock value in their businesses. Our clients count on our deep experience and thoughtful advice to understand the transportation and logistics M&A landscape so that they can turn ambitious goals into reality. Whether it's the recession-resistant automotive aftermarket or the cross-industry criticality of third-party logistics providers (3PLs), our industry offers value creation opportunities for a wide range of investors. We have deep expertise across a broad range of sectors such as the automotive and heavy-duty aftermarket, third-party logistics, and transportation infrastructure.
Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: This email address is being protected from spambots. You need JavaScript enabled to view it.). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.
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Former Commissioner and Chairman of the Federal Energy Regulatory Commission (FERC) Brings Extensive Knowledge and Experience Across the Energy Landscape
NEW YORK--(BUSINESS WIRE)--Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced the appointment of the former commissioner and chairman of the Federal Energy Regulatory Commission (FERC), Neil Chatterjee, to the company’s Board of Directors.
“We are thrilled to welcome Neil to the Board during this moment of transformation and innovation across our industry,” said Convergent CEO Johannes Rittershausen. “Neil brings a unique perspective on the shifting regulatory landscape and diverse experience working with a wide variety of stakeholders. I am confident that he will provide valuable insights into our business and be a strong advocate for Convergent as we continue to deliver cutting-edge energy storage solutions that increase reliability and support the clean energy transition.”
Mr. Chatterjee currently works as the Senior Advisor to the energy regulatory practice of global law firm Hogan Lovells in Washington, D.C. Previously he served as FERC chairman from August 2017 to December 2017, and again from October 2018 to November 2020. Throughout these terms, he advanced a groundbreaking bipartisan Commission policy statement encouraging power grid operators to incorporate state carbon pricing policies into their markets. He also advocated for landmark energy market reforms to remove barriers to energy storage resources. Prior to his appointment as FERC chairman, Mr. Chatterjee advised The Office of the Senate Majority Leader where he aided in the passage of major energy, highway, and agricultural legislation. He also has experience working as a principal in government relations for the National Rural Electric Cooperative Association.
“I have spent my career advocating for new energy infrastructure that meets the moment, and I am honored to join the Convergent Board and have the opportunity to continue playing a role in America’s clean energy transition,” said Mr. Chatterjee. “We are at an important point in the clean energy transition, and it is vital that we continue working to build an energy landscape that is less expensive, more reliable and increasingly sustainable. I look forward to working with the Convergent team as they continue to blaze trails in the energy storage sector and develop revolutionary energy storage and solar-plus-storage systems that bring us closer to a clean energy future.”
Convergent is a portfolio company of Energy Capital Partners (ECP), a leading energy transition-focused investor.
About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $500M invested in or committed to projects in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn or Twitter.
About Energy Capital Partners (ECP)
ECP, founded in 2005, is a leading investor across energy transition, electrification and decarbonization infrastructure assets, including power generation, renewables and storage solutions, environmental infrastructure and efficiency & reliability assets facilitating the energy transition. The ECP team, comprised of 68 people with 550 years of collective industry experience, deep expertise and extensive relationships, has consummated more than 60 transactions over the last 10 years, representing more than $45 billion of enterprise value. For more information, visit www.ecpgp.com.
Convergent Press Contact
Kate Siskel
SVP, Marketing and Communications
Convergent Energy and Power
ksiskel [at] convergentep.com
917-508-0274
HALIFAX, Nova Scotia--(BUSINESS WIRE)--On January 11, 2023, the Board of Directors of Emera Inc. (TSX: EMA) declared quarterly dividends on its common shares and First Preferred Shares, each of which is payable on and after February 15, 2023 to the applicable shareholders of record at the close of business on February 1, 2023, as follows:
Emera Inc. hereby notifies the shareholders of its common shares and its First Preferred Shares that such dividends declared qualify as eligible dividends pursuant to the Income Tax Act (Canada) and corresponding provincial legislation.
About Emera
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $36 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
Emera Inc.
Investor Relations:
Dave Bezanson – Vice President, Investor Relations & Pensions
902-474-2126
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DUBLIN--(BUSINESS WIRE)--The "Biogas Upgrading: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.
Biogas is generated through a microbial fermentation process known as anaerobic digestion (AD), by which various waste streams can be cost-effectively converted into sources of electricity and thermal energy. At the heart of the technology is the anaerobic digester, which in combination with a turbine or gas engine, can serve as a complete power plant. Solid waste landfills also generate a recoverable biological gas through natural AD. Large quantities of gaseous fuel methane can be produced by the process; a valuable by-product in the form of fertilizer is also generated.
While considerable buzz and media attention has focused on a future "hydrogen economy" anticipated to replace the present one based on fossil fuel energy, a genuine biogas economy has been quietly emerging in Europe and Asia. Increasingly, the process is making inroads into the U.S. and other countries as a sustainable energy alternative.
Biogas is defined as a multilateral source of renewable energy that has the ability to replace conventional fuels in the generation of power and heat. It can also be utilized as a gaseous fuel for vehicles. Upgraded biogas or biomethane is an ideal alternative to natural gas.
Owing to soaring global demand for carbon neutrality and renewable energy, a significant rise in demand for biomethane has been observed. Biomethane is also referred to as renewable natural gas or RNG. Favorable policies focused on divesting from imported natural gas, alternative fuel standards, diversion of food waste from landfills, as well as tax credits have played a key role in bolstering demand for biomethane.
Legislation and the desire to cut greenhouse gas emissions (GHGs) are the most important drivers for biogas plant construction. Kyoto Protocol requirements and specifications of the EU Renewable Energy Directive (RED) are two examples of this type of legislation. Energy security, the desire to draw on domestic fuel resources, and elimination of the expense and price volatility of imported fossil fuel also encourage interest in biogas. Worldwide, most countries have targets for renewable energy production, GHG mitigation or laws related to minimizing harmful landfill emissions.
Large-scale AD waste treatment can help reduce GHGs in a number of ways: by directly replacing fossil fuels, minimizing energy use at waste treatment plants, lowering methane emissions from landfill sites, lessening transportation costs related to waste hauling, reducing electrical grid losses and replacing chemical fertilizers with organic products. Unlike liquid biofuels, biogas, for the most part, eliminates the food vs. fuel debate by using waste materials instead of energy crops.
With varying levels of clean-up, also called upgrading, biogas can be used in the same end uses as natural gas, namely, heat and power production, insertion into the pipeline and as vehicle fuel. With improved technologies and market support, biogas might also find application in ships or planes.
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Technology Overview
3.1 Background
3.2 Benefits of Biogas Energy
3.3 Advantages of Biogas Compared to Other Forms of Renewable Energy
3.4 Barriers to Large-Scale Biogas Plant Deployment
3.5 Benefits of Small-Scale Biogas Installations
3.6 Barriers to Small-Scale Biogas Installations
3.7 Global Biogas Production Potential
3.8 Factors Influencing the Biogas Industry
3.8.1 Policy
3.8.2 Incentives
3.9 History of Biogas
3.10 Biogas Value Chain
3.10.1 Anaerobic Digestion
3.10.2 Biogas
3.10.3 Digestate
Chapter 4 Market Dynamics
Chapter 5 Biogas Upgrading Technologies
5.1 Introduction
5.2 Applications
5.2.1 Hydrogen Sulfide (H2S)
5.2.2 Water Vapor
5.2.3 Ammonia
5.2.4 Particles
5.2.5 Siloxanes
5.2.6 Halogenated Hydrocarbons
5.2.7 Oxygen
5.2.8 Nitrogen
5.2.9 Carbon Dioxide
5.3 Biogas Upgrading Technologies
5.3.1 Pressure Swing Adsorption (Psa)
5.3.2 Water Scrubbing
5.3.3 Physical Absorption-Chemical Scrubbing With Polyethylene Glycol
5.3.4 Chemical Absorption-Chemical Scrubbing With Organic (Amine) Solvents
5.3.5 Membrane Technology
5.3.6 Cryogenic Upgrading
5.3.7 Environmental Effects of Gas Cleanup Technologies
5.3.8 Emerging Upgrading Technologies
5.4 Global Market for Biogas Upgrading Equipment by Technology
5.4.1 Pressure Swing Absorption (Psa) Technology
5.4.2 Water Scrubbing Technology
5.4.3 Chemical Absorption Technology
5.4.4 Physical Absorption Technology
5.4.5 Membrane Separation Technology
5.4.6 Cryogenic Technology
Chapter 6 Global Market for Biogas Upgrading by Feedstock Source
6.1 Introduction
6.2 Municipal Wastewater Feedstock
6.3 Biowaste Feedstock
6.4 Agricultural Wastes and Energy Crop Feedstock
6.5 Landfill Gas Feedstock
6.5.1 Anaerobic Digestion in a Landfill
Chapter 7 Global Market for Biogas Upgrading Equipment by End Use
7.1 Introduction
7.2 Grid Injection
7.2.1 Grid Access
7.2.2 Transportation Fuel
7.3 Global Market for Biogas Upgrading Equipment by End Use
7.3.1 Gas Grid
7.3.2 Transportation/Vehicle Fuel
7.3.3 Gas Grid Vehicle Fuel
Chapter 8 Global Market for Biogas Upgrading Equipment by Region
Chapter 9 Industry Structure
Chapter 10 Company Profiles
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/2yua3f
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HOUSTON & TULSA, Okla.--(BUSINESS WIRE)--#downstream--Opportune LLP, a leading global business advisory firm with preeminence in energy, is honored to announce the promotion of Trent Determann to Partner.
Mr. Determann previously served as Managing Director and President of the firm’s Outsourcing practice, where he focused on an array of business-related activities, including but not limited to financial reporting, back-office accounting, and business analytics. Predating his time at Opportune, he served as Vice President of Finance at Gastar Exploration Inc. before accepting the role of Chief Financial Officer at Rebellion Energy II LLC.
“Trent’s rapid achievement within the firm should come as no surprise to those who have had the privilege of working with him,” stated David Baggett, Managing Partner of Opportune. “His breath of expertise in financial energy will continue to add significant value to our clients.”
With this recent promotion, Mr. Determann will take on the accolade of youngest appointed Partner in the firm’s history.
“It’s an honor to be asked to join the firm’s Partnership, and I look forward to seeing where my future at Opportune takes me. I will always remain committed to focusing on Opportune’s mission – add value to clients, people, and the community,” added Mr. Determann.
Mr. Determann was previously selected as an honoree for Hart Energy’s 2017 “Forty under 40” in recognition of his varied achievements during his time at Gastar. He holds a B.S. in Finance from Louisiana State University.
In addition, Opportune is pleased to announce the promotion of the following individuals to Principal:
Kevin Cannon – Mr. Cannon has more than 20 years of client service experience and specializes in working with clients within the energy industry including upstream, midstream, and services companies. Prior to joining Opportune, Mr. Cannon was a Director within PwC’s Transaction Services group where he worked extensively with clients throughout the energy, business services, and industrial manufacturing industries.
Teresa Kroh – Ms. Kroh has over 30 years of experience in software implementation, project management, IT management, and software design and development. For over twenty years, she has put her primary focus on ION Right Angle, with an emphasis on trading and risk management. Before starting at Opportune, Ms. Kroh was a Business Analyst and Project Manager at SolArc.
“Kevin and Teresa are well respected within the firm and amongst our clients. Their varied experience in their service lines will make them an excellent addition to the firm’s leadership team,” stated Mr. Baggett.
Opportune LLP is a leading global business advisory firm focused on adding value to clients across multiple industries with preeminence in energy. Opportune’s practice areas include business transformation, complex financial reporting, disputes and litigations, investment banking, outsourcing, process and technology, reserve engineering and geosciences, restructuring, tax, transactional due diligence, and valuation. For more information, please visit our website at www.opportune.com.
Courtney Baggett
713-490-5050
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DUBLIN--(BUSINESS WIRE)--The "Underwater Drone Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global underwater drone market size reached US$ 3.24 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 6.77 Billion by 2027, exhibiting a CAGR of 13.07% during 2021-2027.
Companies Mentioned
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
An underwater drone refers to an unmanned underwater vehicle (UUV), that is capable of carrying out oceanographic activities underwater without a human occupant or operator. These vehicles are either controlled throughout their operations by a distant human operator or are operated autonomously without any real-time human inputs.
They are typically equipped with high-resolution cameras, superior manipulators, sophisticated propulsion systems, and highly sensitive SONAR, making them an ideal option for ocean exploration and bathymetric measurements. Additionally, they significantly reduce the timelines required to inspect equipment and other submerged items in the sea.
This results in the extensive usage of these drones for underwater surveys, which include detecting obstructions, wrecks and rocks submerged in the sea, mapping the sea floor, analyzing wave currents and visual dead zones, and predicting waterborne accidents, such as tsunamis.
The market is majorly driven by the augmenting adoption of UUVs in deep-water offshore oil and gas exploration activities. This can be attributed to the augmenting demand for energy across the globe. In line with this, a considerable rise in defense expenses to modernize military forces is resulting in a higher product uptake for defense and security applications.
Moreover, the expanding applications of automated unmanned vehicles (AUVs) and remotely operated vehicles (ROVs) in search, recognition, and localization applications are providing an impetus to the market growth. Besides this, the rapid utilization of underwater drones in oceanographic research activities is creating lucrative growth opportunities.
The market is further driven by continual product innovations, such as the incorporation of artificial intelligence (AI) and machine learning (ML), and the advent of energy-efficient underwater drones. Some of the other factors creating a positive outlook for the market include rapid digitization, commercial aquaculture ventures for underwater farms, inflating disposable income levels, and extensive research and development (R&D) activities conducted by key players.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global underwater drone market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, product type, propulsion system and application.
Breakup by Type:
Breakup by Product Type:
Breakup by Propulsion System:
Breakup by Application:
Breakup by Region:
Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/y9jkou
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Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Global Residential Solar PV Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The residential solar PV segment is witnessing a period of fast growth, driven by a combination of an increasingly favorable regulatory climate, higher electricity prices, and concerns over climate change.
The restraints that have held the market back, primarily delays in approvals, have grown weaker, as governments gradually tackle these issues. The uptake of battery storage systems will be pivotal to PV market growth in the future, as households with battery storage solutions can significantly increase their self-consumption of electricity and further mitigate higher
energy costs.
This research service highlights the main drivers and restraints and their relative strengths. Profiles of key countries (a relatively small number of country markets still account for a significant percentage of the total market) offer a clear picture of the status, the growth accelerators and challenges, and the market potential.
In addition, countries are ranked in terms of market attractiveness, based on criteria, such as policy support, incentives, and accessibility. Growth opportunities for active market participants and new entrants are also identified.
Key Topics Covered:
1 Strategic Imperatives
2 Growth Opportunity Analysis
3 Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/oz1x9c
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON & DALLAS--(BUSINESS WIRE)--RPower announced today an award from Bell County Water Control and Improvement District (WCID) #1, the operator of the Lake Belton Water Treatment Plant, to develop a 10 MW microgrid system fueled by clean-burning natural gas generators. The project will provide a cleaner alternative to traditional backup diesel generators, allow the facility to better manage energy costs, and meet the requirements outlined in the Texas Water Code.
The Texas Water Code was amended in early 2021 to require water utilities to develop an emergency preparedness plan that includes a means to operate the water system during an extended power outage.
Bell County WCID1 engaged 5 (www.energyby5.com), a Texas-based energy advisory firm, to develop the project requirements and an RFP to solicit proposals from qualified generation service providers. In addition to delivering a resilient source of backup power, the project will allow Bell County WCID1 to participate in a variety of grid reliability programs and other cost saving measures that will deliver significant cost reductions to the district.
“After a thorough review process, we selected RPower as our partner to develop our microgrid system. This project is extremely important for Bell County WCID #1 as it ensures our compliance with Texas Water Code and provides a benefit to our community,” said Ricky Garrett, General Manager for Bell County WCID #1. “The RPower team delivered a competitive proposal that pulled the entire turnkey microgrid solution together for us. We feel very confident in the RPower team and their ability to deliver what we need to make this project a success.”
“We are proud to have been selected for this important project in Bell County,” said Jeff Starcher, RPower Chief Executive Officer. “Resilience solutions are critical for utilities and the communities they serve, and our business is to deliver the best resilience solution available to meet these needs. We’re honored to be the trusted partner for the Bell County WCID #1 and look forward to a long-term partnership.”
About RPower
Founded in 2021, RPower brings together experienced veterans from some of the most well-known companies in the energy and distributed power generation industries to leverage their deep market knowledge and technical expertise to deliver fully optimized resiliency and microgrid solutions. Headquartered in The Woodlands, Texas, and founded by former MP2 Energy (now Shell Energy) CEO Jeff Starcher, RPower designs, installs, maintains, and optimizes the right microgrid system to meet each customer’s specific needs and goals.
RPower offers a wide spectrum of both packaged and a-la-carte energy solutions, from Resilience as a Service to microgrid design, build, transfer contracts, to energy management services, backed by an industry-leading team. Our resilient solutions help companies ensure the continuity of their business operations through increasingly frequent and longer duration grid outages. RPower’s, sustainable energy resources enhance our customers bottom lines and promote the addition of grid tied renewable energy. For more information, visit www.rpower1.com or LinkedIn.
About 5
Founded in 2011, 5 comprises a team of energy innovators, commodity traders, analysts, engineers and former energy supplier executives. Together they serve a broad array of private and public sector clients throughout the United States and Mexico, providing strategic advice on energy-related matters including procurement, rate optimization, risk management, demand-side management, renewable power, and distributed generation. The firm has received numerous accolades and national awards for its corporate culture, leadership and innovation.
About Bell County WCID #1
Bell County WCID #1, rated a Superior Water System by the Texas Commission on Environmental Quality, provides water to the following cities and water districts: Fort Hood, City of Killeen, City of Copperas Cove, City of Harker Heights, City of Belton, Bell County WCID #3 (Nolanville), 439 Water Supply Corporation, and Belton Lake Outdoor Recreation Area (BLORA). The District serves a population in excess of 250,000 people and can treat and deliver over 107 million gallons of water daily.
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DUBLIN--(BUSINESS WIRE)--The "Global Geothermal Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
The total installed capacity globally is estimated to increase from 15.9 GW in 2022 to 21.3 GW in 2030 at a CAGR of 3.71%. This increase will see a total investment of $11.3 billion, rising from $358 million in 2022 to $1.83 billion in 2030.
Exploiting the earth's energy to produce power and heat (geothermal) is not new. Plants have been operational since the 1960s, but many factors have given significant momentum to the industry. Several new exploration and production techniques are from the oil & gas (O&G) industry.
These techniques have made the viability of projects much higher, as exploration companies can locate the required heat source. Closed-loop extraction techniques minimize the environmental impact on water tables and soil, making geothermal energy sustainable.
Financing baseload renewable energy has become much more attractive for investors. Utilizing the heat produced by geothermal in district heating or for own use in oil & gas operations helps decarbonization.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/vcfgu4.
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Ultra-low emissions and the production of carbonless energy at new plant showcases environmental stewardship in the region
ST. LOUIS--(BUSINESS WIRE)--Brazilian chemical maker Unigel RI (Unigel) – one of Latin America's largest chemical companies and Brazil's top manufacturer of nitrogen fertilizers – has contracted with MECS, Inc. (MECS), a subsidiary of Elessent Clean Technologies, for the construction of a new sulfur burning sulfuric acid plant to displace the import of sulfuric acid for their downstream chemical processes. The new plant will be constructed in the coastal state of Bahia. With sustainability as a core value, Unigel’s new plant will also be used to generate utility steam that will provide reliable and carbon-free power throughout their industrial complex.
“The design and construction of this new sulfuric acid plant, the first for Unigel and the first for Brazil in over 15 years, is an integral step to enabling more streamlined operations and positioning Unigel as a key player in the widespread distribution of sulfuric acid to consumers. Unigel operates on four major pillars: sustainability, quality, safety and reliability; and we knew we needed the market leader for this project. The MECS® technology, products and equipment used in the plant’s design are world class and will ensure our commitment to our customers while ESG practices are met,” said Unigel CEO, Roberto Noronha Santos.
The project also contributes to the challenges of decarbonizing the production chain, since the steam produced in the new sulfuric acid plant will be free from the burning of fossil fuels thereby reducing greenhouse gas (GHG) emissions. This is in addition to other environmental initiatives promoted by Unigel, including Brazil's first green hydrogen plant which Unigel is pioneering. “Unigel focuses on investments that enable the company to decarbonize its operations while also providing solutions for the industry,” said Noronha.
The MECS® sulfuric acid process design for Unigel incorporates state of the art products and technologies, such as MECS® GEAR® catalyst for ultra-low emissions and high conversion, Brink® AutoDrain™ technology for operational efficiency, as well as UniFlo® distributors, acid coolers and acid piping. The addition of the new plant will also facilitate increased capacity for Unigel to better serve their clients, as well as benefiting the region by contributing to a more competitive sulfuric acid supply chain.
“We are excited to have the opportunity to work with Unigel to supply the MECS® sulfuric acid technology at the Camacari, Bahia facility. The plant is essential to Unigel’s operations at the complex as it brings them greater energy and raw material independence. We have worked closely with Unigel over the last few years to generate the optimized solution for the plant, while ensuring maximum efficiency so Unigel can remain a reliable supplier into the future,” said Eli Ben-Shoshan, CEO, Elessent Clean Technologies.
Startup of the new sulfuric acid plant at the Bahia, Brazil site is expected to take place in the first half of 2023.
The MECS® sulfuric acid technology has been in use for over 90 years in phosphate fertilizer, non-ferrous metals (leaching & smelting), oil refining and general chemical industries. MECS® technologies feature breakthrough solutions, many of which have revolutionized the performance, quality and cost-effectiveness of customer operations. They include MECS® heat recovery systems (HRS™), MECS® SolvR® regenerative SO2 scrubbing and MECS® MAX3™ sulfuric acid production technology. Integrated into these MECS® technologies are proven specialty products such as catalysts, Brink® mist eliminators, DynaWave® scrubbers, ZeCor® corrosion resistant alloy products, and acid coolers all of which are specifically designed for the most demanding operating environments. Licensed and marketed by Elessent Clean Technologies, the MECS® technology is the world-leading sulfuric acid production technology with more than 400 licensed acid plants worldwide since the 1960’s. Elessent Technologies is committed to long-term customer satisfaction and support for the life of customer assets.
About Elessent Clean Technologies
Elessent Clean Technologies is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries with an unwavering commitment to customer support. We provide extensive global expertise across our portfolio of offerings in key applications – MECS® sulfuric acid production, STRATCO® alkylation, BELCO® wet scrubbing and IsoTherming® hydroprocessing. Offering critical process equipment, products, technology and services, we enable an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity. We are dedicated to helping our customers produce high-quality products used in everyday life in the safest, most environmentally-sound way possible, with a vision to make the world a better place by creating clean alternatives to traditional industrial processes. Learn more at www.ElessentCT.com.
Elessent Clean Technologies, the Elessent Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of Elessent Clean Technologies Inc. unless otherwise noted.
Elessent Clean Technologies
Mary Reiss
Tel: +1-314-464-4375
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MECS® Sulfuric Acid Technology
Sarah Douglas
Tel: +1-314-464-3764
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UL 9540A fire testing certification gives the VPort BESS System smallest footprint in the industry – opens new applications in EV charging and energy storage
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--KORE Power’s Mark 1 lithium-ion battery module paired with Veloce Energy’s VPort battery energy storage system (BESS) has earned a remarkable fire testing result from Underwriters Laboratories (UL) – 0” clearance from combustibles.
This testing result (under UL 9540A) opens the door to a wide range of new applications for safe, compact EV charging and energy storage solutions because the system does not need wide areas of clearance. Historically, battery malfunctions could cause the sides of BESS enclosures to heat up, creating a safety hazard that required significant spacing between enclosures. UL tests show that Veloce Energy’s VPort system, powered by KORE Power batteries, has virtually eliminated the need for side clearance.
“This result gives us the smallest footprint in the industry because the VPort does not require any dedicated clear areas to either side, and only requires 8” to the back,” said Veloce Co-Founder and CEO Jeff Wolfe. “This allows us to fit our BESS on an EV charging island, in the margin along the side of a building, or at the fence line of existing solar arrays.”
The VPort system is available in 78 kWh, to 468 kWh configurations. Systems can be connected in parallel to deliver MWh storage capacity. The VPort system is currently available and is now shipping.
In July, upgraded fire safety codes for BESS systems began requiring UL 9540A testing. The testing looks at thermal runaway and fire risk at cell, module, unit and installation level.
Lindsay Gorrill, the CEO and Co-Founder of KORE Power, said the results advance the strong safety record of the Mark 1 module. “Our goal is to produce the safest lithium-ion cells and modules in the industry,” he said. “This test result should give Veloce’s customers confidence in the safety of the VPort system, powered by Kore Mark 1 modules.”
About KORE Power
KORE is a leading U.S.-based developer of battery cell technology and integrated solution manufacturer for the energy storage and e-mobility sectors. With clients in energy storage, e-mobility, utility, industrial and defense markets, KORE provides battery products and solutions which are the backbone for decarbonization across the globe. As a U.S.-based, integrated provider of cells, batteries and solutions, KORE is uniquely positioned to serve these markets. Groundbreaking for the construction of the KOREPlex is scheduled for the fourth quarter of 2022 with commercial production scheduled for the fourth quarter of 2024. The KOREPlex will have initial annual production capacity of 6 GWh of battery cells, which will be expanded to 12 GWh to meet expected market demand. KORE is headquartered in Coeur d’Alene, Idaho, with operations in Waterbury, Vermont, and Buckeye, Arizona.
For more information, visit www.korepower.com.
About Veloce Energy
Veloce Energy is the creator of the FastGrid hardware and software infrastructure platform which reduces the time and cost to deploy and operate EV charging stations and commercial and solar storage. Based in California and Colorado, Veloce technology simplifies grid connection, design, installation, expansion, and operation of grid edge systems. The FastGrid includes leading fire-safe, modular, and compact bi-directional energy storage systems, modular installation systems, and integration and operation software. Veloce’s interoperable charging station infrastructure utilizes open standards and enables EV station operators, fleets, site hosts, and utilities to dynamically manage EV charging and other loads, enhancing existing grid resources.
For more visit www.veloceenergy.com
Cautionary Statement
Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives, and expectations. All statements included herein, other than statements of historical fact, are forward-looking information, and such information involves various risks and uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and such forward-looking statements in this news release should not be unduly relied upon. Forward-looking statements included in this news release are made as of the date of this news release, and KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by applicable securities legislation.
David Jakubiak
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Aleysha Newton
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(208) 758-9392
Engineering and fabrication solutions will support gas-treating capacity of 1.7 BCFD for high-demand Gulf Coast and LNG markets
HOUSTON--(BUSINESS WIRE)--#Audubon--Opero Energy, an affiliate of Audubon Engineering Company LLC, and a leading provider of processing technology and equipment, announced the award of a major engineering, design, and fabrication contract for Momentum Midstream’s New Generation Gas Gathering (NG3) project in the Haynesville Shale.
With 4,000 miles of pipeline and seven processing plants, NG3 will have an initial treating capacity of 1.7 billion cubic feet per day (BCFD), expandable to 2.2 BCFD. The project will also include a carbon capture and sequestration (CCS) component to capture and permanently sequester the associated CO2.
Opero Energy will engineer, design, and fabricate the treating and processing equipment for this significant gas-gathering effort. Using the latest processing technologies and fabrication best practices, Opero Energy’s gas-treating solutions will enable Momentum Midstream to efficiently separate CO2 from methane gas to achieve its goal of net-negative emissions.
“We are excited to be working with Momentum Midstream on this groundbreaking project,” said Talal El Awar, President of Opero Energy. “Our team has a history of successful project execution in the Haynesville Shale, and we look forward to supporting increased natural gas production from this important play.”
The NG3 project is strategically significant for alleviating existing strains in the Haynesville Shale and for supplying domestic and international markets with direct access to growing production in the region. Natural gas is expected to flow through NG3 in 2024.
On LinkedIn: Opero Energy
On LinkedIn: Audubon Companies
About Opero Energy
Opero Energy is a leading technology provider specializing in the engineering and fabrication of modular processing equipment for the energy and renewable industries. As experts in energy and industrial infrastructure, we deliver value-added products, technologies, and services—safely and efficiently. From skid-mounted units to complete facilities, our in-house capabilities include engineering, procurement, fabrication, operational, and technical support services across the asset life cycle. Learn more at operoenergy.com.
About Audubon
Audubon Engineering Company LLC (Audubon) is a group of affiliate companies providing engineering, consulting, construction, fabrication, and technical field services to the energy, power, infrastructure, and industrial markets. With proven industry experience, innovative technologies, and data-driven insight, the Audubon group of companies delivers sustainable solutions to build a better tomorrow. Learn more at auduboncompanies.com.
Ivonne Hallard
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“ComEd 2030” priorities support customers and Illinois’ Climate and Equitable Jobs Act goals
CHICAGO--(BUSINESS WIRE)--To outline ComEd’s vision for how it will advance a low-carbon energy future that benefits all of its customers and communities in northern Illinois, the electric company today released its “ComEd 2030” vision. ComEd 2030 identifies key trends and priorities for how ComEd will meet customers’ quickly changing needs and expectations for the rest of this decade and beyond.
“The ComEd electric grid will need to work in new ways to enable millions of electric vehicles hitting the roads and plugging in. Customers will need easy ways to connect the many thousands of clean distributed energy resources that are coming online, such as wind and solar power and battery storage. And ComEd’s service must remain highly reliable and resilient for customers as climate change challenges us with more severe weather events,” said ComEd CEO Gil Quiniones.
ComEd 2030 sets out a vision of how the company’s investments in its infrastructure and customer programs can advance critical policy goals, including the goals of the landmark Climate and Equitable Jobs Act (CEJA), which aims to decarbonize the state’s power sector by 2045. And it is consistent with the formal Grid Plan for the years 2023 through 2027 that ComEd will present to the Illinois Commerce Commission in January 2023.
ComEd 2030 Priorities
ComEd 2030 introduces five pillars that will guide ComEd’s work for customers and communities:
ComEd 2030 is centered on the more than 9 million people who call the company’s northern Illinois service territory home, and consistent with the CEJA law, focuses on ensuring that under-resourced communities are prioritized in the region’s clean energy transition.
“Most important is our commitment to make sure the benefits of the digital and decarbonized energy future flow equitably to communities with the greatest need,” Quiniones said. “ComEd is one of the very few entities in the region that serves everyone. Because we are a company that operates in the public trust, we have a very special focus on community well-being, justice and opportunity for all.”
Harnessing Customer and Industry Trends
ComEd 2030 identifies five key trends for the changing customer needs ComEd will need to meet and its opportunities to provide more value for all of the communities it serves:
In addition to being consistent with ComEd’s 2023-2027 Grid Plan, ComEd 2030 is also coordinated with parent company Exelon’s “Path to Clean,” which sets goals to reduce operations-driven emissions across the company’s businesses by 50% by 2030 and achieve net-zero operations by 2050. In addition to reducing company emissions, Path to Clean is focused on supporting customers and communities in reaching their clean energy and emissions reduction goals.
A Position of Strength
ComEd 2030 builds on significant performance improvements ComEd has made in the last decade to deliver safe, reliable, clean and affordable energy to the more than 9 million people who call northern Illinois home.
“To prepare for the digital and decarbonized future, ComEd has important work ahead,” Quiniones said. “But we start from a position of strength. In the last decade, we have transformed our network into a modern grid. The value delivered to our customers and communities has been substantial.”
ComEd 2030 outlines those areas of improved performance that ComEd will build on, including:
Read the full ComEd story here.
About ComEd
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 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.
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312-394-3500
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