New office in Jakarta to accelerate growth in critical region
ST. LOUIS--(BUSINESS WIRE)--Elessent Clean Technologies (Elessent), global leader in sulfuric acid technologies, announces the opening of a new office in Jakarta, Indonesia. The new office will be a core maintenance and reliability (M&R) solutions provider for sulfuric acid plants in the region, as well as provide a full scope of technical services to customers. Elessent’s Jakartan subsidiary name is PT MECS MandR Solution, and its official establishment date was December 7, 2022.
As the energy transitions persists, the need for metals like nickel and copper has grown significantly with the increasing demand for technologies to fight climate change. In recent years, Indonesia has secured its place as a top performer in mining these metals. As pressure mounts to provide access to these resources, more and more manufacturers are turning to Indonesia for supply.
“The Jakarta office is Elessent’s sixth location serving the Asia Pacific market. The opening of the office demonstrates our commitment to serving this critical region. We’re pleased to bring first-class M&R solutions to sulfuric acid production facilities during a time of significant expansion in metal extraction,” said Kanson Xue, Director of Asia Pacific, Elessent.
The global drive toward net zero carbon emissions has created an increasingly rapid demand for access to electric vehicles, wind energy technologies, batteries, fuel cells and other innovations to support this effort by consumers around the globe. The production of such technologies requires the use of energy metals, like nickel and copper, and the preferred method to extract battery grade nickel, for example, is high pressure acid leaching (HPAL) which requires sulfuric acid. As fossil fuels continue to be replaced by more sustainable measures, industry growth is anticipated for several years to come, and operators worldwide have selected MECS® technologies and proprietary equipment for their projects for decades.
“Elessent’s foundation was built, in large part, on the desire to change our world through sustainability and carbon neutrality efforts, and we couldn’t be more excited about the opportunities that our office in Indonesia will bring. We always strive to ensure our clients have the ability to meet their industry’s growth needs through the most environmentally conscious methods, and as a global leader in sulfuric acid technology licensing and expertise, our close proximity to clients will be a massive asset with the ongoing demand for battery metals.” said Eli Ben-Shoshan, CEO, Elessent.
The MECS® sulfuric acid technology has been in use for over 90 years in the 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
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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ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announces that its Board of Directors (the “Board”) approved an increase to the Company’s existing share repurchase program from $100 million to $125 million and declared a regular quarterly cash dividend in the amount of $0.25 per share of common stock, payable January 31, 2023 to stockholders of record at the close of business on January 20, 2023.
“The expansion of our share repurchase program, along with our regularly quarterly dividend, reflects the Board’s commitment to our disciplined capital allocation strategy and the confidence in our business,” said David Watson, Argan’s President and Chief Executive Officer. “Under the share repurchase authorization, we have repurchased approximately 14% of our outstanding shares at a cost of approximately $84 million since November 2021. As our subsidiaries continue to contribute to the growth in backlog, currently exceeding $0.8 billion, and to successfully execute on their work, we believe the future for Argan is substantial.”
The Board’s authorization permits the Company to make purchases of its common stock from time to time in the open market or through privately negotiated transactions, subject to market and other conditions, up to the aggregate amount authorized by the Board. The Board’s authorization allows the repurchase of shares through January 2024.
About Argan
Argan’s primary business is providing a full range of services to the power industry, including the renewable energy sector. Argan’s service offerings focus on the engineering, procurement and construction of natural gas-fired power plants and renewable energy facilities, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company, and SMC Infrastructure Solutions, which provides telecommunications infrastructure services.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws. Reference is hereby made to the cautionary statements made by the Company with respect to risk factors set forth in its most recent reports on Form 10-K, Forms 10-Q and other SEC filings. The Company’s future financial performance is subject to risks and uncertainties including, but not limited to, the successful addition of new contracts to project backlog, the receipt of corresponding notices to proceed with contract activities, and the Company’s ability to successfully complete the projects that it obtains. The Company has several signed EPC contracts that have not started and may not start as forecasted due to market and other circumstances beyond its control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to the risk factors highlighted above and described regularly in the Company’s SEC filings.
David Watson
301.315.0027
LIMBURG, Germany--(BUSINESS WIRE)--#EVInfrastructure--ADS-TEC Energy (NASDAQ: ADSE), a leading manufacturer of battery-based, ultra-fast electric vehicle (EV) charging solutions, today announced it has signed a master agreement with Cologne-based charging project management specialist amperio GmbH for the expansion of fast-charging infrastructure in Germany. Slate Asset Management (“Slate“), a global alternative investment platform targeting real assets, will provide the financing for the agreement. amperio will initially be installing 101 ADS-TEC Energy ChargePost systems, starting in 2023.
To mark the start of the collaboration, the two companies are today installing and commissioning the first ADS-TEC Energy ChargePost charging system in Limburg an der Lahn. The charging station—installed in the public parking garage at the Limburg-Süd ICE station—will enable ultra-fast charging of e-vehicles for the "LahnStar” on-demand shuttle service, part of the city of Limburg public transportation system.
amperio is one of the first providers to implement and test the ChargePost system's functionality in everyday use including battery-buffered, ultra-fast EV charging along with energy storage as a decentralized energy platform, peak-load capping and optimization of self-consumption. As part of the project, amperio plans to install the ultra-fast charging stations across the country at more than 100 already contractually secured public locations, thus dramatically expanding the fast-charging network in Germany.
amperio employs experienced experts who have previously conducted site analyses, planned and implemented charging infrastructure projects, and operated charging stations both technically and commercially. The cooperation with ADS-TEC Energy is an important step toward a new strategic focus on DC and HPC charging stations. Oliver P. Kaul, managing director of amperio, said, " To meet the rapidly growing energy demand for renewable traction power, drivers of pure battery electric vehicles need more DC and HPC charging points. These must be able to be installed quickly despite limited grid capacity. Likewise, an integrated payment terminal should be available and allow drivers to have the best charging experience even when paying. We are therefore very pleased to have found a German manufacturer in ADS-TEC Energy with whom we can implement this vision. The manufacturer's proven technology, the production location in Germany and the innovative approach of the technology motivated us to cooperate with ADS-TEC. We see great potential in the collaboration for the expansion of the German fast charging network."
Christian Schmid, managing director and global head of infrastructure at Slate, said, "We are thrilled to support the rollout of this framework agreement between amperio and ADS-TEC Energy. The installation of these chargers across Germany demonstrates a continued effort by Slate and amperio to make sustainability infrastructure more accessible and ubiquitous throughout the country, including at many of our own properties." Majority shareholder of amperio GmbH, Slate Asset Management, owns charging stations and finances them for its own use as well as for potential third parties like amperio. It also sources management services from amperio. Slate's portfolio, which includes more than 225 grocery stores across Germany and an extensive network of tenants focused on environmental sustainability, will create a variety of opportunities to accelerate amperio's growth.
ChargePost combines bidirectional battery storage, fast charging station and advertising platform
ADS-TEC Energy’s recently introduced ChargePost system combines two DC fast charging points together with battery storage, power electronics and air conditioning in an extremely powerful, compact and low-noise system. It takes charging to a whole new level with an all -in-one design that takes up less than two square meters (21.5 square feet) of ground space. ChargePost features two charging points for ultra-fast charging of e-vehicles – delivering up to more than 100 kilometers (60 miles) in just a few minutes - with DC power of up to 300 kW for one vehicle and 150 kW for two charging points used simultaneously, 144 or 201 kWh battery capacity, and optional additions of one or two 75-inch advertising displays that cover the entire length of the outer surfaces.
With simple, quick assembly by forklift, ChargePost features plug-and-play installation at ground level, connecting directly to the existing, power-limited low-voltage grid. As an energy platform, ChargePost not only stores energy, but can also feed it back into the grid and thus be used for other applications like grid services. With more than 10 years of experience in lithium-ion technologies, ADS-TEC Energy develops and produces battery-storage solutions and fast-charging systems including energy management systems. And ADS-TEC Energy products are "Made in Germany": ChargePost is manufactured in Dresden, while research and development take place in Nürtingen.
ADS-TEC Energy CEO Thomas Speidel explained: "We are very pleased to be able to demonstrate the strengths of our newly developed ChargePost system together with amperio. The ultra-fast charging system, in combination with energy storage, is also a decentralized energy platform that can be used many times over. The integration of up to two 75-inch monitors as attractive advertising space offers additional revenue opportunities for charging station operators.”
Due to its special performance and efficiency with minimal size, ADS-TEC Energy 2022's charging technology was nominated for the German Future Prize by the President of the Federal Republic of Germany.
About amperio
amperio GmbH, Cologne is a leading specialist planning office for charging infrastructure and operator of charging stations. Since 2012, amperio has been supporting companies, cities and municipalities in developing individual charging concepts, installing charging stations and billing charging processes. In doing so, amperio relies on a holistic service that includes site analysis, profitability analysis, business model analysis, technical consulting, back-end service (monitoring and billing), the operation of charging points, and energy management and subsidy consulting. In addition, amperio offers two charging infrastructure concepts developed in-house with its Charge2Go and Mitarbeiter-Strom products. The company has already implemented over 2,000 charging points for customers such as Volvo, Groupe PSA, Tesla, Fastned, the city of Düren, Bad Ems and Ludwigshafen.
amperio GmbH is part of Slate Asset Management, a global alternative investment platform, which holds a majority stake in amperio GmbH.
More information at amperio.eu
About ADS-TEC Energy
ADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ads-tec Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US subsidiary of ads-tec Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and manufactures battery storage solutions and fast charging systems including their energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies and charge-operators.
More information on: www.adstec-energy.com
About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities.
Visit slateam.com to learn more.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding our expectations with respect to future performance and the anticipated timing of certain commercial activities, such as the Company’s ability to secure critical materials for production and anticipated timing for recognition of revenue from new orders. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the impact of the COVID-19 pandemic, geopolitical events including the Russian invasion of Ukraine, macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy, our business and those of our customers and suppliers, including due to supply chain disruptions and expense increases; our limited operating history as a public company; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales to a limited number of customers for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe and the U.S.; the effects of competition; changes to battery energy storage standards; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on April 28, 2022, which is available on our website at https://adstec-energy.com/corporate-governance/ and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
Media:
For ADS-TEC Energy – Germany
Dennis Müller
SVP Product Marketing & Communication
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For ADS-TEC Energy – US
Stephannie Depa
Breakaway Communications
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For amperio
Marie-Sophie Westbrock
Head of Marketing
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For Slate Asset Management
Karolina Kmiecik
Director of Communications
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NORTH BETHESDA, Md.--(BUSINESS WIRE)--$ESAB #ESABCorporation--ESAB Corporation (“ESAB” or the “Company”) (NYSE: ESAB), a world leader in fabrication and gas control technology, announced today that its Board of Directors has declared a quarterly cash dividend of $0.05 per share of the Company’s common stock. The dividend is payable on January 13, 2023 to shareholders of record as of December 30, 2022.
About ESAB Corporation
ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and gas control technology, providing our partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world. To learn more, visit www.ESABcorporation.com.
Investor Relations Contact:
Mark Barbalato
Vice President, Investor Relations
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 1-301-323-9098
Media Contact:
Tilea Coleman
Vice President, Corporate Communications
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Phone: 1-301-323-9092
DALLAS--(BUSINESS WIRE)--Granite Ridge Resources, Inc. (NYSE: GRNT) (“Granite Ridge” or the “Company”) today announced that the Board of Directors has approved a stock repurchase program authorizing management of the Company to repurchase up to $50 million of the Company’s common stock through December 31, 2023. The Company also announced that the Conflicts Committee of the Board of Directors has waived certain lock-up transfer restrictions contained in the Company’s Registration Rights and Lock-Up Agreement with certain of the Company’s stockholders as it relates to approximately 23.6 million shares of Granite Ridge common stock (the “Grey Rock Fund II Shares”) held by private equity funds managed by Grey Rock Energy Management (“Grey Rock”).
Under the stock repurchase program, Granite Ridge will repurchase shares of its common stock from time to time in open market transactions or in privately negotiated transactions as permitted under applicable rules and regulations. The Board of Directors of the Company may limit or terminate the stock repurchase program at any time without prior notice, but, with no further action of the Board of Directors of the Company, the stock repurchase program will terminate on December 31, 2023. The extent to which the Company repurchases its shares of common stock, and the timing of such repurchases, will depend upon market conditions and other considerations as may be considered in the Company’s sole discretion.
The Grey Rock Fund II Shares are currently held by certain funds managed by Grey Rock. Once the resale of such Grey Rock Fund II Shares is registered pursuant to the Company’s Form S-1 registration statement with the Securities and Exchange Commission, the waiver of the lock-up transfer restrictions for the Grey Rock Fund II Shares will allow Grey Rock to distribute the Grey Rock Fund II Shares from the funds to the underlying investors in the funds who may then resell such shares. The Grey Rock Fund II Shares represent approximately 18% of the currently issued and outstanding shares of Granite Ridge’s common stock. The chart below evidences the current ownership of Company common stock by the public and funds managed by Grey Rock as well as the remaining lock-up transfer restrictions for such Company common stock.
| Granite Ridge Shares Outstanding as of 12/14/2022 | |||||||||||||||
Shares |
|
% of Shares |
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Holder |
Lock-Up | Outstanding |
|
Outstanding |
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|
|
|
|||||||||||||
| Publicly Held Shares (1) | None | 14,613,164 |
|
11% |
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| Grey Rock Fund II (2) | None | 23,601,149 |
|
18% |
|||||||||||
| Grey Rock Fund III (3) | Thru 4/22/2023 | 95,080,584 |
|
71% |
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133,294,897 |
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100% |
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| 1. 371,518 shares are subject to potential forfeiture. | |||||||||||||||
| 2. GREP Holdco II LLC, GREP Holdco II-B Holdings, LLC, Grey Rock Energy Partners GP II-A, L.P., and Grey Rock Energy Partners GP II-B, L.P. | |||||||||||||||
| 3. GREP Holdco III-A LLC and GREP Holdco III-B Holdings LLC. | |||||||||||||||
“Today’s announcement reflects Granite Ridge’s desire to increase trading volume and public float in the Company over time while reflecting our ongoing commitment to enhance value for our stockholders,” said Luke Brandenberg, Granite Ridge’s President and Chief Executive Officer. Mr. Brandenberg continued, “Over time, we expect Grey Rock to distribute shares held by the funds it manages to the individual investors in those funds in an orderly fashion to increase our public company float, which is an important long-term goal for Granite Ridge. Using a portion of our cash flow from operations, we can make opportunistic stock repurchases that we believe will enhance value for our stockholders as Grey Rock continues to distribute the shares that it manages for its funds.”
About Granite Ridge
Granite Ridge is a scaled, non-operated oil & gas exploration and production company. We invest in a diversified portfolio of production and top-tier acreage across the Permian and four other prolific U.S. basins in partnership with proven operators. We create value by generating sustainable full-cycle risk adjusted returns for investors, offering a rewarding experience for our team, and delivering reliable energy solutions to all – safely and responsibly. For more information, visit Granite Ridge’s website at www.graniteridge.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Granite Ridge’s financial position, operating and financial performance, business strategy, and plans and objectives of management for future operations are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Granite Ridge’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in Granite Ridge’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans, changes in current or future commodity prices and interest rates, fluctuations in prices for our securities, supply chain disruptions, infrastructure constraints and related factors affecting our properties, expansion plans and opportunities, operational risks including, but not limited to, the pace of drilling and completions activity on our properties, changes in the markets in which Granite Ridge competes, geopolitical risk and changes in applicable laws, legislation, or regulations, including those relating to environmental matters, cyber-related risks, the fact that reserve estimates depend on many assumptions that may turn out to be inaccurate and that any material inaccuracies in reserve estimates or underlying assumptions will materially affect the quantities and present value of the Granite Ridge’s reserves, the outcome of any known and unknown litigation and regulatory proceedings, legal and contractual limitations on the payment of dividends, limited liquidity and trading of Granite Ridge’s securities, acts of war or terrorism and market conditions and global, regulatory, technical, and economic factors beyond Granite Ridge’s control, including the potential adverse effects of the COVID-19 pandemic, or another major disease, affecting capital markets, general economic conditions, global supply chains and Granite Ridge’s business and operations.
Granite Ridge has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond Granite Ridge’s control. Granite Ridge does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Investor and Media Contact: This email address is being protected from spambots. You need JavaScript enabled to view it. – 214.396.2850
ALBANY, N.Y.--(BUSINESS WIRE)--Equinor and partner bp launched the first of three Industry Supplier Expos with an inaugural event in the Capitol Region at Hudson Valley Community College (HVCC), in Troy New York, yesterday. More than 80 manufacturers attended the expo which is designed to help local and regional manufacturers participate in New York’s new offshore wind industry and connect them directly with Equinor and its key suppliers. The event was also attended by Assemblyman John McDonald from the 108th District and Assemblywoman Patricia Fahy from the 109th District.
The Industry Supplier Expos are part of Equinor’s efforts to facilitate the growth and sustainability of a New York-focused supply chain to sell components and services in the offshore wind industry for decades to come. The series offers a springboard for New York businesses to find out more about working in the offshore wind industry and prepare for future industry opportunities. The supplier expos also seek to foster involvement from minority- and women –owned businesses and service-disabled veteran owned businesses.
“The Supply Chain Expo is a great opportunity for New York businesses to learn how to get involved in this exciting industry. Offshore wind is still new to the United States, and Equinor and bp are committed to helping create a new and vibrant regional supply chain. These events will help us connect with a variety of manufacturers, especially those in adjacent sectors like aerospace, maritime, and heavy industries that are well-positioned to join the offshore wind ecosystem.” said Molly Morris, President of Equinor Wind US.
At the expo, attendees heard from suppliers and industry leaders who are working with the Empire and Beacon Wind projects and participated in one on one “matchmaking” to find out more about how they can become a part of the supply chain. The second and third supplier events will occur in New York City and Long Island respectively in 2023.
Doreen M. Harris, President and CEO, NYSERDA said, “NYSERDA is working collaboratively to cultivate a New York-centered U.S. supply chain and develop clear pathways to well-paying, long-term careers in the offshore wind industry. This industry supplier roadshow hosted by Equinor and bp is another opportunity for businesses from the Capital Region and beyond to make connections with manufacturers and capitalize on prospects to join this growing ecosystem right here in New York.”
Key suppliers engaged in panels where they spoke about the importance of building local supply chains for a new industry.
“Nexans is committed to building a local and sustainable supply chain for offshore wind and are excited to participate in Equinor’s Supply Chain Expo to learn more about the opportunities in New York,” said Bjorn Ladegard of Nexans.
“GLDD is excited to share our success story of a U.S. firm moving into the Offshore Wind Industry, especially with the support of Equinor and NYSERDA,” said Michael Greenwood of Great Lakes Dredge and Dock.
“Edison Chouest Offshore are proud to play an important role in the prestigious Empire Wind I/II development by designing, building, owning and operating a US Flagged Service Operations Vessel. The deployment of offshore wind farms in the US is a fantastic opportunity to not only reduce greenhouse gas emissions utilizing a sustainable resource but also providing New York State organizations and residents opportunities to engage in the burgeoning industry,” said Michael Braid, Vice President of Renewables for Edison Chouset.
“We applaud Equinor and New York for their leadership and commitment to developing the US offshore wind industry. We look forward to building a sustainable supply chain in New York and deploying our V236-15 MW turbine to bring the 2.1 GW Empire Wind offshore project to operation. This event is a key step to collectively build a robust value chain and deliver reliable jobs and lasting benefits to New York State,” said Amy McGinty, Vice President of Offshore Construction and Operations, Vestas North America.
“Marmen Welcon is excited to be a part of bringing the off-shore wind industry to the Port of Albany. We look forward to the many partnerships with the community and businesses that this project will provide, as well as contributing to the development of the local workforce to support this exciting industry,” said Aimee Mairitello of Marmen Welcon.
Future supplier expos will take place in New York City at the CUNY Graduate Center on February 7th and on Long Island at Farmingdale State College on March 10th.
Equinor Renewables US
Equinor is one of the largest offshore wind developers in the world. Its work in the United States includes the development of two lease areas off of in New York, Empire Wind and Beacon Wind. The projects plan to provide New York State with 3.3 gigawatts (GWs) of energy—enough to power nearly two million homes—including more than 2 GWs from Empire Wind and 1,230 megawatts from Beacon Wind 1. www.equinor.com/NY
bp in the US
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $130 billion in the economy and supporting about 245,000 jobs. For more information on bp in the US, visit www.bp.com/us.
About Empire Wind
Empire Wind is being developed by Equinor and bp through their 50-50 strategic partnership in the US. Empire Wind will power more than 1 million homes and generate 2.1 GW of power. For more information, please visit www.empirewind.com.
About Beacon Wind
Beacon Wind is planned for an area of 128,000 acres in federal waters between Cape Cod and Long Island. The lease area was acquired in 2019 and is being developed in two phases. Beacon Wind 1 is on track to deliver 1.2 GW of renewable energy directly to New York City in the late 2020s – enough to power 1 million homes. Beacon Wind 2 has the capacity to generate another 1.2 GW of clean energy for consumers in the US Northeast. www.beaconwind.com
Lauren Shane, senior communications manager, Equinor Renewables US
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+1-917-392-4252
Brian Young, Senior Consultant Communications, Equinor US
+1-917-915-6461
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SEATTLE--(BUSINESS WIRE)--#MMR--Seattle-based Ultra Safe Nuclear Corporation and Lappeenranta-Lahti University of Technology (LUT) in Lappeenranta, Finland today signed a Memorandum of Understanding (MOU) to further examine deployment of the Ultra Safe Nuclear Micro-Modular™ Reactor (MMR®) as a research and test reactor in city of Lappeenranta at or near the University’s campus. The reactor will be operated as a training, research and test facility and will connect to the district heating network of Lappeenrannan Energia, the municipally owned energy company providing carbon-free district heating to the university, city and surrounding area.
A leading energy research university, LUT research supports the world’s transition to carbon neutrality in all societal and industrial sectors. The MMR research and test reactor will test new technologies to decarbonize energy production, microgrid integration, and help train the future workforce through hands-on experience with a next-generation high-temperature gas-cooled microreactor.
“The work LUT is doing in transitioning to a carbon-neutral world is important and the MMR is the perfect research and training facility to advance their knowledge and experience, especially when it comes to decarbonizing district heating systems,” said Francesco Venneri, CEO and Founder of Ultra Safe Nuclear.
According to the World Nuclear Association, district heating is widely used in Finland but is largely fueled by fossil fuels such as peat and coal, which is to be phased out by 2029. At 15 MW to 30 MW of thermal energy, the MMR is small enough to be located near district heating loads. The unmatched safety of the MMR and its Fully Ceramic Micro-encapsulated (FCM®) fuel mean owners and regulators can site these MMR Energy Systems with confidence.
“The safety and design of the MMR makes partnering with Ultra Safe Nuclear the ideal choice for LUT and for Finland as we work toward decarbonized municipal and industrial heat supply and a carbon-neutral world,” said Juhani Hyvärinen, Professor of Modelling in Nuclear Engineering at LUT.
The project at LUT joins the growing list of global training, test, and research MMR projects at the University of Illinois Urbana-Champaign in the USA and at McMaster University in Canada.
About Ultra Safe Nuclear
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. Major initiatives include the micro modular reactor MMR®, the fully ceramic micro-encapsulated FCM® nuclear fuel, and nuclear power and propulsion technologies for space exploration. The company is demonstrating MMR Energy Systems at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois Urbana-Champaign, with new deployment projects underway in the United States, Canada, and Europe.
Ultra Safe Nuclear is committed to bringing safe, commercially competitive, clean and reliable nuclear energy to global power and industrial markets. Ultra Safe Nuclear is working with NASA and the Defense Department on advanced radioisotope power, nuclear thermal propulsion systems and advanced materials using the same strict inherent and intrinsic safety principles to drive innovation in fuels, materials, and design.
Ultra Safe Nuclear is the only private company producing TRISO and FCM fuel. This is enabling the transformation of key power and industrial sectors. Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.
Brian Meeley
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703.282.0691
Professor Juhani Hyvärinen
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+358 50 5241512
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today the commencement of a proposed underwritten secondary public offering of 6,900,000 shares of the Company’s common stock by Energy Transition Holdings LLC (the “Selling Stockholder”), an entity managed by Great Mountain Partners LLC. The 6,900,000 shares of common stock being sold in this offering represent approximately 3.3% of the Company’s outstanding common stock as of the close of business on December 13, 2022 and represent 21.3% of the shares held by the Selling Stockholder in the Company as of that date. The Company is not selling any shares and will not receive any proceeds from the proposed offering.
J.P. Morgan is acting as sole underwriter for the proposed offering. The underwriter may offer the shares from time to time to purchasers directly or through agents, or through brokers in brokerage transactions on the Nasdaq Global Select Market, or to dealers in negotiated transactions or in a combination of such methods of sale, at a fixed price or prices, which may be changed, or at market prices prevailing at the time of sale, at prices related to such prevailing market prices or at negotiated prices.
The offering is being made only by means of a prospectus supplement and accompanying base prospectus. The Company has filed a registration statement (including a base prospectus) and will file a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates and a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. When available, you may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying base prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone (toll-free): 1-866-803-9204, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus.
About New Fortress Energy Inc.
New Fortress Energy Inc. is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including but not limited to, the Selling Stockholder’s intention to consummate the proposed offering. All statements other than statements of historical facts contained in this press release are forward-looking statements. The consummation of the offering is subject to market conditions and other factors that are beyond our control. Accordingly, no assurance can be given that the offering will be completed on the contemplated terms or at all and you should not place undue reliance on any forward-looking statements contained in this press release.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
Investors
Patrick Hughes
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Media
Jake Suski
(516) 268-7403
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14th annual California Green Innovation Index finds transportation pollution fell for the third straight year, even as in-state power sector emissions spiked
SAN FRANCISCO--(BUSINESS WIRE)--California’s greenhouse gas emission fell a remarkable 8.7% in 2020 amidst pandemic-induced economic disruptions and travel restrictions. But while the significant drop in emissions has helped the state make progress toward its 2030 climate targets, it masks a rise in pollution from in-state power generation, as stubbornly-slow renewable energy growth threatens California’s transition to carbon neutrality. At the same time, a drop in emissions from the transportation sector for the third-consecutive year could signal a breakthrough in the state’s largest source of climate pollution, if pandemic-era shifts towards hybrid work remain and electric vehicle adoption continues to rise.
That’s the finding of the fourteenth annual California Green Innovation Index—released today by the nonpartisan nonprofit Next 10 and prepared by Beacon Economics. The report’s analysis of the latest available emissions data found that while transportation-sector, commercial-sector, and industrial-sector emissions dropped in 2020, emissions from in-state electricity and agriculture increased.
“Despite the significant 2020 emissions drop, a closer look at the data from this year’s Index suggests California still faces challenges,” said F. Noel Perry, businessman and founder of Next 10. “The increase in in-state power generation pollution is worrisome. Not only is this pollution hurting the health of those living close to these facilities, this is the sector that overarching decarbonization depends on. We’ll need to see a significant increase in clean energy generation—at least 8% per year—in the coming years, to power homes, vehicles and industry.”
The report also analyzed the economic and jobs returns on investment from four of California’s signature climate and clean energy programs, and found that a cumulative $2.76 billion investment in these programs generated $5.35 billion in economic output and created 8,521 jobs—while reducing greenhouse gas emissions. The findings should inform California’s budget priorities, as the state pursues strategies to fend off a potential looming recession.
“California’s return on climate investments has been striking,” said Patrick Adler, research manager at Beacon Economics. “The state has shown that it can create jobs and strong economic growth—while also helping to cut the pollution that is driving climate change and adversely impacting communities across California.”
TRANSPORTATION EMISSIONS DROPPED FOR THIRD CONSECUTIVE YEAR, SIGNALING POTENTIAL BREAKTHROUGH, ALBEIT TEMPORARY; PUBLIC TRANSIT USE CONTINUES TO DECLINE
The Index found that transportation sector emissions—California’s largest source of greenhouse gas emissions—plunged by a staggering 16.1% in 2020, amidst pandemic-induced travel restrictions and a shift to working from home. The remarkable decrease was driven by a 19.8% reduction in emissions from light-duty passenger cars, a 18.5% decrease from SUVs and light-duty trucks, a 12.2% emissions decrease from off-road vehicles, and a 7.4% emissions decrease from heavy-duty trucks
“Due to the pandemic, the emissions drop from California’s transportation sector in 2020 was remarkable. This is the third straight year that we’ve seen a decline in pollution from the state’s largest and most stubborn source of emissions. The encouraging trends in this year’s Index on EV adoption and charging build-out show that EVs are reaching new, lower-income consumers and folks in rural areas,” noted Perry. “But to make continual progress in the transportation sector, we need structural changes to how we move around our cities and towns, and we urgently need to address the looming public transit crisis.”
While electric vehicle sales of all classes fell 16.5% from 2019 to 2020 due to pandemic-related uncertainty and supply chain challenges, sales data from 2021 paint a more encouraging picture. Electric vehicle sales shot up 79% in 2021 compared to 2020, and battery electric vehicles reached 9.5% of new vehicle registration in 2021, up from the previous peak of 6.2% in 2020.
The increase in electric vehicle ownership in rural areas showed the most encouraging signs of growth, increasing by an impressive 57.1% in 2021 compared to 2019. Roughly half of the growth in electric vehicles across the state of California in 2021 took place in rural areas compared to 2019. Promising electric vehicle growth is likely to continue in coming years, as California tracks towards achieving a landmark regulation adopted this year that will phase out the sale of gasoline cars by 2035.
The Index’s encouraging data on electric vehicle sales contrasts sharply with its findings on public transit ridership, which plunged a stunning 52% in 2020. More concerningly, ridership fell an additional 3% in 2021—even after pandemic restrictions began to lift and some people started returning to the office. The findings suggest that the pandemic could push California deeper into its historical trend of individual car ownership, despite the climate impacts. After a steady decline since the peak in 2018, the vehicle ownership rate rose to 78.4 per 100 persons in 2021, up from 74.7 in 2020.
Key findings include:
SLUGGISH RENEWABLE ENERGY GROWTH PAINTS WORRISOME PICTURE FOR STATE’S TRANSITION TO CARBON NEUTRALITY
The Index found that renewable energy as a share of California’s total power mix rose just 0.5% to 33.6% in 2021—even as the state repeatedly faced electricity supply shortfalls during climate-fueled heat waves, underscoring the need for more renewable energy resources. Since 2017, California’s pace of renewable energy growth has been slower than the U.S. average, and this year’s Index finds that the state is now at risk of missing its Renewable Energy Portfolio (RPS) standard target of 50% of energy from renewable sources by 2026.
The impact of not having enough renewable electricity was visible in the state’s increase in in-state power sector pollution, which rose 6.3% in 2020, due to increased reliance on natural gas power plants.
“For the first time, the state is at risk of missing its renewable energy targets. It is imperative that the state re-double its efforts to increase new, clean electricity generation to keep up with growing demand in buildings and transportation,” said Perry.
One bright spot in an otherwise worrisome picture for California’s transition to clean electricity is the state’s rapidly-expanding battery storage capacity, which increased by 7.5 times in 2021 compared to 2020—a record high. Battery storage has provided urgently-needed grid resiliency benefits, especially in the evening hours, when California’s robust supply of solar energy begins to drop off.
Key findings include:
ELECTRICITY FOR HOME HEATING TAKES OFF, IN A TREND LIKELY TO ACCELERATE
The Index found that electricity or solar energy use for home heating surged 7.5% in 2021—the most substantial long-term growth among all other fuels. This increase is set to accelerate in coming years, as local and state commitments to phase out polluting natural gas in buildings take hold. In 2022, California adopted a first-in-the-nation commitment to phasing out the use of gas furnaces and water heaters by 2030.
Electricity or solar energy is also the fastest-increasing primary heating fuel among renter households, increasing by 25.3% between 2008 and 2019, and continuing to rise in 2021 (+39.3% in renter-occupied units; +38.8% in owner-occupied units). Renter-occupied units (40.9%) were about twice as likely to be powered by electricity or solar energy than owner-occupied units (21.4%) in 2021.
Key findings include:
WILDFIRE EMISSIONS HIGHER THAN EVER, IN MAJOR CLIMATE CHALLENGE
The Index found that emissions stemming from wildfires broke new records in 2020, totaling over 127 MMTCO2e—more than any other sector except for transportation, and a roughly 16% percent jump in comparison to 2019. At the moment, wildfire emissions are not included in the GHG emissions inventory, however, CARB has started a process to include wildfire emissions in its future scoping plan outlining the pathway to achieving carbon neutrality by 2045.
“Emissions from wildfires threaten to undo the work the state has done to reduce emissions across the economy. Recent state budgets have included funding to reduce the risk of wildfires, and the state is working earnestly to reduce the number and severity of fires,” said Perry. “We need to take both the source of emissions, and the root cause of climate change, of this crisis seriously.”
About Next 10
Next 10 is an independent, nonpartisan, nonprofit organization that educates, engages and empowers Californians to improve the state’s future. With a focus on the intersection of the economy, the environment, and quality of life, Next 10 employs research from leading experts on complex state issues and creates a portfolio of nonpartisan educational materials to foster a deeper understanding of the critical issues affecting our state.
About Beacon Economics
Founded in 2007, Beacon Economics, an LLC and certified Small Business Enterprise with the state of California, is an independent research and consulting firm dedicated to delivering accurate, insightful, and objective economic analysis. Leveraging unique proprietary models, vast databases, and sophisticated data processing, the company’s specialized practice areas include sustainable growth and development, real estate market analysis, economic forecasting, industry analysis, economic policy analysis, and economic impact studies.
Chloe Zilliac
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650.644.8259
LADERA RANCH, Calif.--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self storage company, announced today it was named a top corporate solar user in 2022 by the Solar Energy Industries Association (SEIA). SmartStop ranked in the top one percent in the number of solar installations at its owned and managed properties. In addition, SmartStop ranked in the top six percent for solar adoption capacity (in megawatts) among the more than 5,000 businesses surveyed.
SEIA, the national trade association for the solar and storage industry, tracks and analyzes commercial solar adoption in the U.S. in its Solar Means Business 2022 report. According to the report released on November 29, 2022, American companies are installing record levels of solar to power their operations and now account for 14% of all installed solar capacity in the United States.
“SmartStop strives to be a leader in environmental sustainability and values the recognition of the SEIA,” said H. Michael Schwartz, Chairman and CEO of SmartStop. “Several years ago, we recognized that we could make an impact by powering our locations using renewable, clean energy.” said Schwartz. “We plan to continue the expansion of our solar program with installations at existing and newly acquired facilities across the country, and it’s a win-win because it improves profitability for our stockholders.”
SmartStop recognizes the importance of minimizing the impact of its operations on the environment and integrating environmental considerations into its business practices. SmartStop has implemented several energy-saving and waste-reduction initiatives along with solar panels. The majority of SmartStop locations feature interior motion-sensing lights, and energy-saving LED lights are used throughout the interiors and exteriors. SmartStop’s technology platform allows customers to use the company’s website or call center to generate paperless reservations and rentals.
“Solar Means Business highlights the incredible flexibility of solar, whether it’s installed on a warehouse roof, on a carport or at an offsite facility, showing the various ways that companies are meeting their needs with clean, affordable energy,” said SEIA president and CEO Abigail Ross Hopper.
Solar Means Business tracks over 47,000 corporate solar installations nationwide, which combined generate enough electricity to power 3.2 million homes and offset 20.4 million metric tons of CO2 annually. Total commercial solar installations are expected to double again over the next three years with nearly 27 GW of offsite corporate solar projects scheduled to come online by 2025.
About SmartStop Self Storage REIT, Inc. (SmartStop):
SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 450 self storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self storage programs. As of November 30, 2022, SmartStop has an owned or managed portfolio of 176 properties in 22 states and Ontario, Canada, comprising approximately 120,600 units and 13.7 million rentable square feet. SmartStop and its affiliates own or manage 20 operating self storage properties in the Greater Toronto Area, which total approximately 17,050 units and 1.7 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.
David Corak
VP of Corporate Finance
SmartStop Self Storage REIT, Inc.
949-542-3331
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Grant Programs from PG&E and The PG&E Corporation Foundation Support Key Investments in Climate Action for Local Communities
OAKLAND, Calif.--(BUSINESS WIRE)--Building upon a long history of climate action and environmental stewardship, Pacific Gas and Electric Company (PG&E) and The PG&E Corporation Foundation (Foundation) have awarded $900,000 across two grant programs intended to support climate resilience efforts in PG&E’s hometowns, while also protecting and restoring land, water, and air in habitats and communities across California.
“When PG&E issued our Climate Strategy Report earlier this year, we recognized that our approach to climate action must be twofold – we have to become more resilient to the impacts being felt today, while also working to heal the planet and avoid the impacts of tomorrow. Through these two grant programs, we’re pleased to work collaboratively with organizations in our hometowns to address both of these challenges with a focus on equity,” said Carla Peterman, Executive Vice President, Corporate Affairs and Chief Sustainability Officer for PG&E Corporation and Chair of the Board of The PG&E Corporation Foundation.
Better Together Nature Positive Innovation Grants
As one of the largest landowners in California, PG&E has a long history of responsible stewardship of the natural environment. Through the Better Together Nature Positive Innovation grant program, the Foundation is reinforcing its focus on environmental stewardship and pursuing opportunities to invest in partnerships that will promote protecting and restoring land, water, and air in habitats and communities across our service area.
For 2022, the Better Together Nature Positive Innovation grant program has awarded five $100,000 grants to the following organizations:
“We appreciate The PG&E Corporation Foundation for recognizing our proposal to engage and work with property owners along the Cobb Area Watershed, which feeds directly into Clear Lake. This stewardship project targets watershed management practices in the Cobb Mountain community by recruiting local property owners to participate in “hands-on” workshops interweaving resource management training with direct actions to match site conditions and landowner concerns. Every workshop we hold involves tribal knowledge holders and teachers, who will combine their expertise with that of other topical specialists,” said Eliot Hurwitz, Executive Director of the Seigler Springs Community Redevelopment Association.
For more information about the Better Together Nature Positive Innovation grant program, click here.
Resilience Hubs Grants
Recognizing that communities across California face growing threats from extreme weather events such as coastal and inland flooding, heat waves, wildfires, and more powerful storms, the Resilience Hubs grant program seeks to fund and establish physical spaces, or a set of resources, that support community resilience in the face of these climate-driven events. Once developed, these hubs can also be accessed year-round to build and sustain community-adaptive capacity in a trusted location.
For 2022, the Resilience Hubs grant program has awarded $400,000 to the seven organizations listed below. These grants will be funded by PG&E shareholders as part of the company’s investments in statewide wildfire resiliency and response, in accordance with a mandate from the California Public Utilities Commission.
The program awarded $25,000 each to four Feasibility Projects to fund an assessment of resilience hub needs and/or conceptual ideas for a resilience hub:
Additionally, the program awarded $100,000 each to three Design and Build Projects toward the design and/or creation of a resilience hub. Through these projects, the organizations will either plan and design new physical spaces or mobile resources, or retrofit existing buildings or structures to support community resilience:
“The Food Bank of Contra Costa and Solano is thrilled to receive funding to strengthen our partners’ ability to serve their communities, especially in times of acute crisis. By storing emergency food in central locations, we will ensure the community has access to critical services—without delay,” said Joel Sjostrom, President and CEO of the Food Bank of Contra Costa and Solano.
For more information about the Resilience Hubs grant program, click here.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
About The PG&E Corporation Foundation
The PG&E Corporation Foundation is an independent 501(c)(3) nonprofit organization, separate from PG&E and sponsored by PG&E Corporation.
Marketing & Communications | 415.973.5930 | www.pge.com
NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (the “Company”) announced today the pricing of the previously announced secondary public offering of 6,900,000 shares of its common stock by Energy Transition Holdings LLC (the “Selling Stockholder”), an entity managed by Great Mountain Partners LLC, at a price to the public of $46.00 per share. The 6,900,000 shares of common stock being sold in this offering represent approximately 3.3% of the Company’s outstanding common stock as of the close of business on December 13, 2022 and represent 21.3% of the shares held by the Selling Stockholder in the Company as of that date. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholder. The offering is expected to close on December 19, 2022, subject to customary closing conditions.
J.P. Morgan is acting as the sole underwriter for the offering.
The offering is being made only by means of a prospectus supplement and accompanying base prospectus. The Company has filed a registration statement (including a base prospectus) and a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (“SEC”) for the offering to which this communication relates and will file a final prospectus supplement relating to the offering. Prospective investors should read the prospectus supplement and base prospectus in that registration statement and other documents the Company has filed or will file with the SEC for more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus supplement, when available, and the accompanying base prospectus for the offering may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone (toll-free): 1-866-803-9204, or by email at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the prospectus supplement or the shelf registration statement or prospectus.
About New Fortress Energy Inc.
New Fortress Energy Inc. is a global energy infrastructure company founded to help address energy poverty and accelerate the world’s transition to reliable, affordable, and clean energy. The company owns and operates natural gas and liquefied natural gas (LNG) infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. Collectively, the company’s assets and operations reinforce global energy security, enable economic growth, enhance environmental stewardship and transform local industries and communities around the world.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements, including but not limited to, the Selling Stockholder’s intention to consummate the offering. All statements other than statements of historical facts contained in this press release are forward-looking statements. The consummation of the offering is subject to market conditions and other factors that are beyond our control. Accordingly, no assurance can be given that the offering will be completed on the contemplated terms or at all and you should not place undue reliance on any forward-looking statements contained in this press release.
All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.
Investors
Patrick Hughes
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Media
Jake Suski
(516) 268-7403
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NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the 13th consecutive year and for the first time has been included in the Dow Jones Sustainability World Index (DJSI World), which comprises global sustainability leaders identified by S&P Global through its Corporate Sustainability Assessment. Only the most sustainable companies are considered each year for DJSI membership. This year, Hess is the only North American oil and gas company listed on DJSI World and one of only three North American oil and gas companies included in DJSI North America.
In addition, Newsweek just published its fourth annual ranking of America's Most Responsible Companies and once again included Hess. Of the 500 companies on the 2023 list, Hess is the highest ranked oil and gas producer. The ranking is based on an analysis of 2,000 public companies with U.S. headquarters by a research firm using an independent survey and publicly available environmental, social and corporate governance (ESG) performance indicators. The complete list and methodology are available here.
“We are honored to be recognized for delivering industry leading ESG performance and disclosure,” said Alex Sagebien, Vice President, Environment, Health and Safety. “Hess will continue to be guided by our longstanding commitment to sustainability as we help to meet the world’s growing need for affordable, reliable and cleaner energy.”
Hess’ Sustainability Report describes the company’s sustainability strategy and performance on ESG programs and initiatives. The report is available at: www.hess.com/sustainability/sustainability-reports.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information about the company is available at www.hess.com.
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
DUBLIN--(BUSINESS WIRE)--The "USA Wind Farms Database" database has been added to ResearchAndMarkets.com's offering.
This product is a database of wind farms in USA.
It includes 2055 entries, representing 14,796 GW onshore and 4,435 GW offshore.
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For more information about this database visit https://www.researchandmarkets.com/r/krbuu4
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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FRESNO, Calif.--(BUSINESS WIRE)--#circulareconomy--ERI, the nation’s largest fully integrated IT and electronics asset disposition (ITAD) provider and cybersecurity-focused hardware destruction company, has launched its new internal system designed to harness proprietary A.I. and machine learning technology innovations to further enhance operational efficiency. The new system, called “SOAR,” is now fully operational.
SOAR utilizes ERI’s proprietary Optical Character Recognition (OCR) technology to highlight text on a picture, allowing the user to easily make selections during the receiving process. The second phase of the SOAR platform, announced this week, takes the process to the next level of efficiency. Driven by machine learning and artificial intelligence, the system provides automated selections of the appropriate text from the OCR scans of images, which eliminates the need for user decision-making.
SOAR moves the overall receiving process of assets such as desktops, laptops and other electronic devices to a near-automated experience where the user has minimal interaction with the data itself. The technology streamlines the intake process procedure, simply requiring the user to take a photo of the device. ERI’s proprietary cloud-based software Optech does all the work from there, printing a coded tag for the user to stick to the device.
“We are proud to be pioneering a new realm of efficiency for the electronics recycling industry with SOAR,” said ERI’s Chairman and CEO, John Shegerian. “We expect that this innovative system will once again increase efficiency gains by approximately 50% or more and further improve the accuracy of captured data. We are taking a process that was already best-in-class and taking it to a whole new level of excellence.”
The first iteration of SOAR was initially launched in April of this year. The proprietary concept designed by ERI’s in-house technology team immediately improved receiving times of ITAD equipment coming through ERI’s warehouse doors. Originally, a small number of workstations were set up to test and gain feedback on the SOAR platform. ERI now has more than 50 stations deployed across the country in ERI’s facilities. Efficiency improvements, nationwide, have reached approximately 250% while also increasing accuracy. ERI’s IT team continue to make enhancements to the system, including those announced this week.
ERI works with all of its partners to increase the volume of material captured within a closed loop and is the recipient of an overall “A” rating from the Ellen MacArthur Foundation’s Circulytics tool which measures progress towards a circular economy.
ERI is the nation’s leading fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company.
ERI is the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States. ERI is certified at the highest level by all leading environmental and data security oversight organizations to de-manufacture, recycle, and refurbish every type of electronic device in an environmentally responsible manner. It is the first and only company in its industry to achieve SOC 2 certification for security and data protection. ERI has the capacity to process more than a billion pounds of electronic waste annually at its eight certified locations, serving every zip code in the United States. ERI’s mission is to protect people, the planet and privacy. For more information about e-waste recycling and ERI, call 1-800-ERI-DIRECT or visit https://eridirect.com.
Paul Williams, 310/569-0023, This email address is being protected from spambots. You need JavaScript enabled to view it.
SHENZHEN, China--(BUSINESS WIRE)--Shenzhen, a southern Chinese coastal city and high-tech hub, saw 315 projects with a total investment of 879 billion yuan (about 126.31 billion U.S. dollars) inked at a conference on December 9, as the metropolis strives to boost global investor confidence in its future development.
The 2022 Shenzhen Global Investment Promotion Conference featured a series of activities, including 12 regional investment promotion conferences and a number of overseas parallel sessions and industrial investment promotion activities. Branch venues have been established in 16 cities on five continents.
The projects signed at the conference cover the fields of new-generation electronic information, biomedicine and health, as well as the green and low-carbon industry and the marine industry.
The conference attracted global companies in a wide range of fields, including Amazon, Intel and Maersk.
Wu Bingqing, President of Maersk Greater China, said that 50 percent of Maersk's supply chain management business in Greater China comes from Shenzhen. "Maersk is highly aligned with Shenzhen's development strategy and will continue to increase investment in Shenzhen in the future."
"Shenzhen is embracing historical development opportunities and is proving to be a hotspot for global investors in China," said James Chang, Managing Partner of Regional Economic Clusters, PwC China.
From 2019 to 2021, the Shenzhen Global Investment Promotion Conference signed more than 600 projects, involving over 2 trillion yuan of intended investment.
As a front-runner of China's high-tech industrial development, Shenzhen boasts a host of Chinese startups and tech heavyweights, including Huawei and Tencent.
Company: Commerce Bureau of Shenzhen Municipality
Contact Person: Zhang jiaqi
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: http://commerce.sz.gov.cn/
Telephone: 86-0755-88107023
Address: 12/F, Great China International Exchange Square, No 1, Fuhua Road 1, Futian District, Shenzhen
MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today declared a quarterly dividend on its common stock of 48.75 cents per share. The dividends are payable January 20, 2023, to shareholders of record on December 29, 2022.
Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.
This information is not given in connection with any sale or offer for sale or offer to buy any securities.
Statements in this press release regarding Xcel Energy’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.
Xcel Energy, Minneapolis
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Darin Norman (612) 337-2310
or
Paul Johnson, Vice President, Treasurer & Investor Relations (612) 215-4535
or
Xcel Energy Media Relations Representatives (612) 215-5300
LONDON--(BUSINESS WIRE)--Commodity AI firm ChAI has begun a project with BASF-YPC to forecast olefin prices including Ethylene, Propylene and Butadiene. BASF-YPC Company Limited is a large-scale petrochemical 50:50 joint venture between the world's two largest chemical companies BASF and Sinopec. ChAI provides BASF-YPC with Olefin price forecasts to support the company’s market intelligence and enhance its feedstock cost management.
ChAI is a data-driven market insights tool for companies exposed to commodity prices. ChAI uses proprietary AI technology to provide forecasts that update daily to enable companies to understand raw material price changes in their cost base fully. This information can help companies to enhance their hedging strategies, enable more accurate budgeting and justify purchasing decisions.
ChAI is democratizing the tools, techniques and data that have long given speculators a competitive edge: combining state-of-the-art AI techniques with exciting new alternative data sources to reduce the risk in physical supply chains. Their innovation helps better mitigate shocks to company cash flows and P&Ls – enabling businesses to plan better for the future and be more resilient.
Tristan Fletcher, CEO at ChAI, said: “It is a real honour to be able to serve two of the world’s largest and most prestigious chemicals companies, forecasting the raw materials in their cost base.”
Website: www.chaipredict.com
Linkedin: www.linkedin.com/company/chaipredict
Felix Orchard
07506450284
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today announced successful startup of one of the largest advanced recycling facilities in North America. The facility at the company’s integrated manufacturing complex in Baytown, Texas, uses proprietary technology to break down hard-to-recycle plastics and transform them into raw materials for new products. It is capable of processing more than 80 million pounds of plastic waste per year, supporting a circular economy for post-use plastics and helping divert plastic waste currently sent to landfills.
“We’ve proven our proprietary advanced recycling technology at Baytown, and now we’re leveraging our scale and integration to increase production of certified circular plastics to meet growing demand,” said Karen McKee, president of ExxonMobil Product Solutions Company. “There is substantial demand for recycled plastics, and advanced recycling can play an important role by breaking down plastics that could not be recycled in traditional, mechanical methods. We are collaborating with government, industry and communities to scale up the collection and sorting of plastic waste that will improve recycling rates and help our customers around the world meet their sustainability goals.”
Since the start of pilot operations at Baytown last year, ExxonMobil has recycled nearly 15 million pounds of plastic waste. The proprietary ExxtendTM technology enables the breakdown of plastic waste that would previously be destined for landfills – from synthetic athletic fields to bubble wrap and motor oil bottles.
The company helped form Cyclyx International LLC, a joint venture created to collect and sort large volumes of plastic waste and is investing in a first-of-its-kind plastic waste processing facility in Houston to help supply ExxonMobil’s Baytown advanced recycling facility.
To accelerate advanced recycling, ExxonMobil is a founding member of the Houston Recycling Collaboration, which brings government and industry together to increase access to recycling programs and expand infrastructure for mechanical and advanced recycling technologies.
ExxonMobil plans to build advanced recycling facilities at many of its other manufacturing sites around the world, which would give it the capacity to process up to 1 billion pounds of plastic waste annually by year-end 2026. The company is assessing facilities in Baton Rouge, Louisiana; Beaumont, Texas; and Joliet, Illinois; as well as at sites in Belgium, the Netherlands, Singapore and Canada.
ExxonMobil is also collaborating with third parties to assess the potential for large-scale implementation of advanced recycling technologies and opportunities to support improvements to plastic waste collection and sorting in Malaysia and Indonesia.
ExxonMobil has commercial contracts to sell certified circular plastics to customers around the world for use in food-safe plastic packaging, including collaborations with Sealed Air and Ahold Delhaize USA, Berry Global, and Amcor.
Advanced recycling is a proven technology that can help accelerate a circular economy and address the challenge of plastic waste. With effective government policies in place to modernize the recycling system and improve waste collection, more plastic materials can be collected, sorted and recycled, especially plastics that aren’t easily recycled today.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world.
In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.
With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com, the Energy Factor, and ExxonMobil’s Advancing Climate Solutions.
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Cautionary Statement
Statements of future events, investments, conditions, strategic and operating plans and objectives, the development of technologies, and other statements of future ambitions in this release are forward-looking statements.
Actual future results, including business and project plans, operating performance, partner participation, timing, capacities, and costs could differ materially due to a number of factors. These include the ability to execute operational objectives on a timely and successful basis; timely completion of construction projects; unforeseen technical or operational difficulties; unplanned maintenance; global or regional changes in the supply and demand for post-use plastics; unexpected technological developments; the ability to scale different technologies on a cost-competitive basis; the outcome of future commercial negotiations; actions of competitors and commercial counterparties; government policies; and other market factors.
Any forward-looking statement speaks only as of the date of this press release and the companies named herein disclaim any obligation to update any forward-looking statement.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
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The Company will advance the capabilities of its multipurpose satellite constellation with in-orbit demonstrations of new technology developments
VIENNA, Va.--(BUSINESS WIRE)--Spire Global, Inc. (NYSE: SPIR) (“Spire” or “the Company”), a leading global provider of space-based data, analytics and space services, will launch six satellites on the SpaceX Transporter-6 mission from Cape Canaveral Space Force Station no earlier than January 2023. The satellites will demonstrate advancements and new capabilities for Spire’s weather and aviation solutions.
Spire will launch two demonstration satellites carrying next-generation Automatic Dependent Surveillance-Broadcast (ADS-B) payloads, which collect aircraft position data. The satellites will expand Spire’s existing ADS-B constellation and play an integral role in improving coverage and latency for the Company’s aviation products. They will demonstrate sophisticated technology for global aircraft tracking, including an advanced antenna design based on years of in-orbit ADS-B payload experience and state-of-the-art inter-satellite links. The satellites will be Spire’s first to have propulsion systems on board. The multipurpose satellites will also carry payloads to monitor Automatic Identification System (AIS) signals for vessel tracking data and for Space Services customer Myriota, a provider of global Internet of Things (IoT) service from satellites.
One of the satellites on the launch will fly a polarimetric radio occultation (PRO) payload that collects data on precipitation profiles and patterns. The mission will validate PRO sensitivity to precipitation using several global navigation satellite systems as signals of opportunity. This will be the first step towards the assimilation of PRO data into weather models, which will enhance the value and accuracy of global weather forecasts along with the weather variables currently gathered by Spire’s constellation. The PRO payload, which will be the first launched by a private company, was designed as part of the ESA InCubed Programme, a co-funding program focused on developing innovative and commercially viable products and services that generate or exploit the value of Earth observation imagery and dataset. This activity is supported by the Luxembourg Space Agency (LSA). Spire is the largest producer of radio occultation data, which is leveraged by government agencies like NOAA, NASA, ECMWF, and EUMETSAT to drive global weather predictions.
“We at ESA are very happy with the efficiency, focus, and speed of implementation of this activity, and if we can see it resulting in measurement data and processing results for systematic evaluation of their assimilation into numerical weather prediction, that will be a rewarding completion,” said Thomas Burger, ESA Technical Officer for Spire.
“Satellites and payloads are continuing to get smaller and more powerful,” said Jeroen Cappaert, Spire CTO and Co-founder. “We’re capitalizing on this rapid pace of innovation and miniaturization to continue to enhance our constellation with cutting-edge technology that drives new applications of satellite data. The applications we’re demonstrating for aviation tracking and precipitation data will play a crucial role in solving some of the greatest challenges we face on Earth, such as overcoming climate change with more accurate weather forecasting and bringing transparency to the supply chain.”
The Company is also launching three satellites to replenish its fully deployed constellation of more than 100 multipurpose satellites. Spire designs and builds its satellites entirely in house at its manufacturing facility in Glasgow. The Company has built and launched more than 150 satellites, carrying over 500 years of spaceflight heritage across its fleet.
The satellites are manifested on the mission through a multi-launch agreement between Spire and Exolaunch, which includes access to the Transporter missions through Exolaunch’s long-term launch arrangements with SpaceX. Exolaunch, a global provider of launch, in-space logistics and deployment services, will also provide Spire with deployment and integration services.
About Spire Global, Inc.
Spire (NYSE: SPIR) is a leading global provider of space-based data, analytics and space services, offering access to unique datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. Spire uses one of the world’s largest multipurpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions. Spire then provides this data as a subscription to organizations around the world so they can improve business operations, decrease their environmental footprint, deploy resources for growth and competitive advantage, and mitigate risk. Spire gives commercial and government organizations the competitive advantage they seek to innovate and solve some of the world’s toughest problems with insights from space. Spire has offices in San Francisco, Boulder, Washington DC, Ontario, Glasgow, Oxfordshire, Luxembourg, and Singapore. To learn more, visit www.spire.com.
Kristina Spychalski
Senior Manager, Communications
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