The company’s more than 75 workforce development programs are designed to create good-paying jobs and prepare work-ready adults and youth for family-supporting careers
CHICAGO--(BUSINESS WIRE)--For the second consecutive year, Exelon (Nasdaq: EXC) was selected by the Center for Energy Workforce Development (CEWD) to receive its highest honor, the Chairman’s Award, which recognizes a company for excellence in workforce development leadership. Exelon was selected for its notable leadership in promoting careers in energy; achievements toward establishing diversity, equity and inclusion goals; innovation in approaches to training and upskilling; and enhancements to office culture and operations to attract and retain a skilled diverse workforce.
“One of the most important ways we can lift up our communities is through opportunity and education —providing tomorrow’s workforce with the knowledge, tools and pathways they need to ensure they succeed in the clean energy economy,” said Robert Matthews, vice president, Talent and Chief Diversity, Equity and Inclusion Officer, Exelon. “Our commitment to advancing STEM education and utility-based job training programs remains a top priority so that we can continue to prepare young people and work-ready adults for family-supporting careers and to help all of our communities prosper.”
In addition to Exelon being recognized with CEWD’s highest honor, Exelon energy delivery company ComEd was recognized for the second year in a row with CEWD’s Community Partnership Award for the collaborative work alongside workforce agencies, education institutions, labor and other community-based partners in order to equitably expand the talent pipeline. One example of the work done in partnership with local agencies is ComEd’s CONSTRUCT Infrastructure Academy (CONSTRUCT), which delivers skills training to help more diverse local talent prepare for meaningful careers in the energy, construction and related sectors. ComEd oversees the program, while bringing in more than 40 employer sponsors and workforce agencies who support training. The program is being scaled to prepare candidates for roles that will support the clean energy transition in Illinois, and to date, more than 700 have graduated from this program, which boasts a 70 percent job placement rate.
Two Exelon leaders also were honored with the Workforce Champion Award: BGE Workforce Development Manager Kristen Bucher and ComEd Vice President of Large Customer Services Diana Sharpe, who were recognized for demonstrating extraordinary leadership in workforce development by “creating meaningful change that will influence, mobilize and energize a diverse, skilled talent pipeline.”
Exelon operates more than 75 different workforce development programs across its six utilities. Since 2019, the company has helped more than 1,300 people obtain family-supporting jobs, either internally or externally with company contractors. This year alone, Exelon will invest approximately $14 million to support these programs.
To learn more about how Exelon is powering its communities through its workforce development programs, click here. To learn more about careers at Exelon, click here.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.
Liz Keating
Corporate Communications
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312-394-7417 Exelon Media Hotline
TORONTO--(BUSINESS WIRE)--$DMJ #carbonemissions--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") is pleased to announce substantial upturn of its 4th Quarter 2022 sales, primarily reflecting repeated international sales from existing clients and new sales in multiple applications.
These repeat dynaCERT sales follow several successful initial pilot projects in a variety of applications by several global companies applying HydraGEN™ Technology which is designed to improve fuel consumption and significantly reduce Greenhouse Gases (GHG’s).
dynaCERT has been successful in offering its HydraGEN™ Technology in a diversity of markets because of its distinct line of products which includes the following models: HG1 model designed for 10 to 15 litre diesel engines; HG2 model, designed for 1 to 8 litre diesel engines; HG4C designed for 30 to 60 litre diesel engines, HG6C designed for 60 to 90 litre diesel engines.
To date, these 4th Quarter 2022 sales represent one hundred and thirty-seven (137) confirmed orders of the Company’s HydraGEN™ Technology of which one hundred and twelve (112) have been delivered and twenty-five (25) confirmed orders which are scheduled for early 2023 delivery.
The following list shows sales volume in 4th Quarter 2022 by product model type and use of HydraGEN™ Technology:
Seventy-Three (73) HG1, Ontario Utility Company Vehicles
Five (5) HG1, Ontario Municipality Trucks and Equipment
Five (5) HG2, Ontario Municipality Trucks and Equipment
Five (5) HG1, Greater Toronto Area (GTA), Highway Service Vehicles
Two (2) HG2, Greater Toronto Area (GTA), Highway Service Vehicles
Six (6) HG1, Alberta Oil Company, Drilling Rigs in Canada
Sixteen (16) HG1, Australia, Road Trains
Six (6) HG2, Mexico, Trucking
Two (2) HG4C, Argentina, Mining
Four (4) HG6C, Voisey's Bay Mine, Mining Generator
Three (3) HG6C, Chile, Mining
Nine (9) HG1, Trucking and Locomotive in Europe (Germany, Switzerland, Austria and Portugal)
Two (2) HG2, Trucking in Europe
Ed Cordeiro, Director of Sales, Americas, of dynaCERT, stated, “Considerable effort by dynacert’s product development team over the course of 2022 has resulted in our HydraGEN™ Technology being modified and adapted to the unique specific needs of multiple industries. As a result of these on-going energies, dynaCERT now has HydraGEN™ Technology systems installed on Mining Vehicles, Oil Field Drill Rigs and Fracking Pumps, Road Trains Australia, Large Power Generation Equipment, Rail as well as our traditional markets of Local and Long Haul Transportation. dynaCERT’s sales department continues to build momentum in these sectors and exploring other markets in order to achieve a diversified user base with a global impact.”
Jim Payne, President and CEO of dynaCERT, stated, “I would like to take this time to recognize all the hard work and clever efforts that have resulted in such noteworthy technology advancements which results in dynaCERT now achieving repeated sales from our diverse base of customers and dealers world-wide.
Because of the strong commitments and ingenious inputs from our dealers and customers, our team has been able to upgrade, modify and customize our technology to accommodate so many different applications. Our team of engineers and staff have worked diligently to ensure that our product line can meet a diversity of needs and become robust to withstand the rigorous challenges that have been faced in deploying our technology under rigorous operating conditions around the globe.
I feel proud and confident that we have a commercialized and proven product line that is now helping improve many of today’s climate change requirements. Our products are designed to improve fuel economy and improve engine performance while achieving significant Carbon Emission Reductions and mitigating Greenhouse Gases (GHG’s). By achieving such deliverables, our patented HydraGEN™ and HydraLytica™ product lines are evidencing how our products can facilitate companies achieve their ESG goals while also benefitting with our current application process to register future Carbon Credits having world wide recognition.”
dynaCERT has received the Smart Sustainable Company Rating Seal after a rigorous analysis of Triple-A Analytics GmbH of Austria. This honourable distinction of dynaCERT and its HydraGEN™ Technology as it applies to the United Nations Sustainable Development Goals and United Nations Global Compact Principles, has been evaluated as “high”, the highest global ranking in its category.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, information relating to third party entities and clients cannot be independently verified. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
The Company provided updates on its Endurion battery program, shared an informational video on its technology, and detailed notable 2022 milestones while outlining its goals for 2023.
ANN ARBOR, Mich.--(BUSINESS WIRE)--The Coretec Group (OTCQB: CRTG), developers of silicon anode active materials in lithium-ion batteries for EV, cleantech, and emerging tech applications, today released the transcript and webcast recording from its December 14, 2022 shareholder update. The full call transcript and webcast recording can be found on the Company’s Investor Relations Website.
On the call, The Coretec Group CEO Matt Kappers, along with COO/CFO Matthew Hoffman and VP, Partnerships and Innovation Dr. Michelle Tokarz, discussed the most recent updates to the Company’s Endurion battery program. He also urged participants to view the Company’s recent informative video (https://youtu.be/kQPsIDeLfe8) on the technology that demonstrates its position in the EV battery supply chain, as well as The Coretec Group’s unique approach to battery development.
The call also detailed many of Coretec’s notable achievements in 2022, including the hiring of research scientist, Dr. Nathanael Downes, progress on Endurion and partnerships, and CFO Matthew Hoffman taking on the additional role of Chief Operating Officer. Coretec leaders also outlined the Company’s goals for 2023.
The call concluded with Coretec leaders answering questions from the investor community. Kappers urges all who are interested in receiving the latest Company updates to sign up for notifications on its Investor Relations Website, and follow the Company’s social media channels.
About The Coretec Group
The Coretec Group, Inc. is developing a portfolio of engineered silicon to improve energy-focused verticals, including electric vehicle and consumer batteries, solid-state lighting (LEDs), and semiconductors, as well as 3D volumetric displays and printable electronics. The Coretec Group serves the global technology markets in energy, electronics, semiconductor, solar, health, environment, and security.
For more information, please visit thecoretecgroup.com.
Follow The Coretec Group on:
Twitter – @CoretecGroupInc
LinkedIn – www.linkedin.com/company/24789881
YouTube – www.youtube.com/channel/UC1IA9C6PoPd1G4M7B9QiZPQ/featured
Forward-Looking Statements
The statements in this press release that relate to The Coretec Group’s expectations with regard to the future impact on the Company’s results from operations are forward-looking statements and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
Corporate Contact:
The Coretec Group, Inc.
Lindsay McCarthy
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+1 (866) 916-0833
Media Contact:
Spencer Herrmann
FischTank PR
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+1 (518) 669-6818
The Romeoville, IL station to provide low-carbon fuel for Amazon fleet as part of nationwide RNG Expansion
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--$CLNE--Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, announced the opening of another renewable natural gas (RNG) fueling station that will provide an anticipated 1.4 million gallons of the clean fuel annually for Amazon and other truck fleets in the greater Chicago area.
“The addition of the Romeoville station to our fueling network represents another step in the pathway for Amazon to realize significant carbon reduction for its transportation fleets,” said Chad Lindholm, senior vice president, Clean Energy. “Trucks that operate on diesel are incredibly harmful to the air we breathe and contribute to long-term climate change. Renewable natural gas is a viable solution that provides immediate benefits, and as such this station will mitigate greenhouse gas emissions and lessen the impact of climate change in the Chicago area.”
Located at 300 Southcreek Parkway, the Romeoville station is part of an agreement between Clean Energy and Amazon for Clean Energy to build 19 stations nationwide. The station is intended to support the retailer in its adoption of RNG, a sustainable fuel produced from organic waste, which has been given an average carbon rating of -317 by the California Air Resources Board and is helping fleets to further their carbon reduction and fiscal goals.
The station initially will fuel more than 100 Amazon trucks and is designed with sufficient fueling capacity to accommodate several hundred more trucks. Amazon heavy-duty trucks have already fueled at more than 86 existing Clean Energy stations around the country and under the agreement announced last year, another 17 new Clean Energy-owned stations are slated to follow Romeoville, with several expected to open early next year.
By dispensing 1.4 million gallons of RNG annually instead of diesel, the Romeoville station will reduce carbon emissions by 15,219 MT metric tons—the equivalent of growing 253,643 trees for ten years, removing 3,308 passenger cars from the road, or reducing 6,112 tons of landfill waste.
The Romeoville station spans 8.2 acres and includes multiple public access fast-fill dispensers for easy in-and-out fueling of RNG; time-fill posts for up to 152 trucks, allowing for cost-effective fueling and the most advanced technology transmitting real-time data to customers; and 153 parking places for drivers’ personal vehicles. Beginning today, this multi-million-dollar station gives the thousands of heavy-duty trucking fleets that operate throughout the busy Chicago area the ability to fuel with a clean, renewable, and sustainable fuel.
“We’re pleased that fleets that operate in Romeoville will now have the option to use RNG fuel,” said Romeoville Mayor John Noak. “It’s a fuel that will improve air quality and have a positive impact on climate change.”
Clean Energy is also investing in the production of renewable natural gas with partners, TotalEnergies and bp, at dairies throughout the Midwest. The RNG produced at these dairies and others around the country will flow into the Romeoville station and Clean Energy’s nationwide fueling infrastructure.
The RNG digesters at dairies allow their owners to solve the problem of fugitive methane while realizing an additional revenue stream.
For high resolution photos, video and more information visit https://www.cleanenergyfuels.com/amazon-stations.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about the opening and operation of the Romeoville, IL RNG fueling station and other fueling stations; the amount of fuel anticipated to be dispensed; environmental benefits of RNG; Clean Energy’s arrangements with Amazon; and the production of RNG at dairy farms. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @ce_renewables on Twitter.
Raleigh Gerber
949-437-1397
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Leading Water Technology Company Awards $10,000 to Donovan Sippel
BROOKSHIRE, Texas--(BUSINESS WIRE)--#waterpro--Grundfos, a global leader in advanced pump solutions and water technologies, today announced Donovan Sippel as the 3rd Annual WaterPRO Competition winner. Grundfos hosted the final rounds of the competition at the National Groundwater Association’s (NGWA) 2022 Groundwater Week Conference and Expo in Las Vegas on December 6-8, 2022.
Grundfos awarded the grand prize of $10,000 to Sippel. For his 2nd place win, Will Hargan won $3,000; in 3rd place, Ryan Carroll won $1,500.
“The annual WaterPRO Competition is a fun celebration of the skills, and expertise pump installers must possess to install and maintain this vital equipment,” said Patrick Sless, Area Sales Director in Canada and US for Water Utility at Grundfos. “While the competition is all in good fun, installing, assembling, and maintaining complex water technology improves the quality of life for people worldwide. Congratulations to the winners and all the participants for their ingenuity and proficiency with Grundfos solutions!”
After competitions at local events throughout the year, the WaterPRO Competition culminates at NGWA’s Groundwater Week, where the ten winners of the local events and two walk-ons compete for a $10,000 grand prize and the Guts and Glory title. Although the specific events are only revealed during the competition, the participants must complete typical pump installer tasks the fastest to move on to the next round and eventually win. This year participants in the semi-final round worked on the Go Solar App, and in the final round, they were challenged to assemble the Grundfos Scala1 pump.
To learn more about the WaterPRO Competition, visit Grundfos WaterPRO Competition.
About Grundfos
Grundfos pioneers solutions to the world’s water and climate challenges and improves the quality of life for people. As a leading global pump and water solutions company, we promise to respect, protect and advance the flow of water by providing energy and water-efficient solutions and systems for a wide range of applications for water utilities, industries, and buildings. Find out more at www.grundfos.com and connect on LinkedIn, YouTube, Facebook, and Instagram.
Carrie Ward, PR for Grundfos, This email address is being protected from spambots. You need JavaScript enabled to view it., 832-407-5347
*Photos from the WaterPRO Competition are available by request.
MINNEAPOLIS--(BUSINESS WIRE)--Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG”) today announced the closing of a previously announced acquisition of non-operated interests in the Northern Delaware Basin.
DELAWARE BASIN ACQUISITION
On December 16, 2022, NOG closed its previously announced acquisition of properties from a private seller. The closing settlement was $131.6 million in cash, which includes a $13.0 million deposit paid at signing in October 2022. The closing cash settlement is net of preliminary and customary purchase price adjustments and remains subject to post-closing settlements between NOG and the seller. More information regarding this acquisition can be found in NOG’s October 11, 2022, press release announcing the transaction, which is available here.
ABOUT NORTHERN OIL AND GAS
NOG is a company with a primary strategy of investing in non-operated minority working and mineral interests in oil & gas properties, with a core area of focus in the premier basins within the United States. More information about NOG can be found at www.northernoil.com.
SAFE HARBOR
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding NOG’s shareholder return plans, financial position, business strategy, plans and objectives of management for future operations, and other matters are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “guidance,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential future trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond NOG’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in crude oil and natural gas prices, the pace of drilling and completions activity on NOG's properties and properties pending acquisition, NOG's ability to acquire additional development opportunities, integration and benefits of property acquisitions, or the effects of such acquisitions on NOG’s cash position and levels of indebtedness, changes in NOG's reserves estimates or the value thereof, general economic or industry conditions, nationally and/or in the communities in which NOG conducts business, changes in the interest rate environment, legislation or regulatory requirements, conditions of the securities markets, NOG's ability to consummate any pending acquisition transactions, other risks and uncertainties related to the closing of pending acquisition transactions, NOG's ability to raise or access capital, changes in accounting principles, policies or guidelines, financial or political instability, health-related epidemics, acts of war or terrorism, and other economic, competitive, governmental, regulatory and technical factors affecting NOG's operations, products, services and prices.
NOG has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond NOG's control. NOG does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Investor Relations
(952) 476-9800
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ARNHEM, Netherlands--(BUSINESS WIRE)--Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultrafast charging network, today announced that it has successfully expanded its credit facility by €230 million to €400 million. The new facility expires in December 2027.
This credit facility is available to finance green investments, in compliance with the Green Loan Principles. The Company expects to utilize the refinanced credit facility to support its backlog of signed contracts. Allego increased its backlog of signed contracts meaningfully during the third quarter of 2022 and has reached 1,270 premium sites, representing around 8,400 ultrafast charging ports that will serve its customers.
Allego’s Chief Financial Officer, Ton Louwers, stated, “We are excited to have successfully increased our credit facility by €230 million to €400 million. With this increase, we have reached a major milestone in Allego’s long term funding strategy to pursue and achieve our growth plans and support our secured backlog. As a result, we believe we are very well positioned to continue to execute on our growth strategy of expanding the largest European public EV fast-charging network, accelerate the transformation of Europe’s EV charging infrastructure, and drive value for all our stakeholders.”
Societe Generale acted as structuring bank, and Societe Generale and Banco Santander served as the mandated lead arrangers and book runners on this facility.
About Allego
Allego delivers charging solutions for electric cars, motors, buses, and trucks, for consumers, businesses, and cities. Allego’s end-to-end charging solutions make it easier for businesses and cities to deliver the infrastructure drivers need, while the scalability of our solutions makes us the partner of the future. Founded in 2013, Allego is a leader in charging solutions, with an international charging network comprising approximately 34,000 public and private charging ports operational throughout the pan-European market – and proliferating. Our charging solutions are connected to our proprietary platform, EV-Cloud, which gives our customers and us a full portfolio of features and services to meet and exceed market demands. We are committed to providing independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. At Allego, we strive every day to make EV charging easier, more convenient, and more enjoyable for all.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are forward-looking statements. Allego intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward looking statements may generally be identified by the use of words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,”, “project,” “forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or other similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, Allego’s expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. Most of these factors are outside Allego’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (i) changes adversely affecting Allego’s business, (ii) the price and availability of electricity, (iii) the risks associated with vulnerability to industry downturns and regional or national downturns, (iv) fluctuations in Allego’s revenue and operating results, (v) unfavorable conditions or further disruptions in the capital and credit markets, (vi) Allego’s ability to generate cash, service indebtedness and incur additional indebtedness, (vii) competition from existing and new competitors, (viii) the growth of the electric vehicle market, (ix) Allego’s ability to integrate any businesses it may acquire, (x) Allego’s ability to recruit and retain experienced personnel, (xi) risks related to legal proceedings or claims, including liability claims, (xii) Allego’s dependence on third-party contractors to provide various services, (xiii) Allego’s ability to obtain additional capital on commercially reasonable terms, (xiv) the impact of COVID-19, including COVID-19 related supply chain disruptions and expense increases, (xv) general economic or political conditions, including the armed conflict in Ukraine and (xvi) other factors detailed under the section entitled “Risk Factors” in Allego’s filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. If any of these risks materialize or Allego’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Allego presently does not know or that Allego currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Allego’s expectations, plans or forecasts of future events and views as of the date of this press release. Allego anticipates that subsequent events and developments will cause Allego’s assessments to change. However, while Allego may elect to update these forward-looking statements at some point in the future, Allego specifically disclaims any obligation to do so, unless required by applicable law. These forward-looking statements should not be relied upon as representing Allego’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Investors
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DUBLIN--(BUSINESS WIRE)--The "Sustainable Aviation Fuel: Global Market Outlook" report has been added to ResearchAndMarkets.com's offering.
This report will cover the global SAF industry. Definitive and detailed estimates and forecasts of the worldwide markets are provided, followed by a detailed analysis of the regions, countries, and platforms. This report covers the present scenario and growth prospects of the global SAF market for 2022-2027.
As SAF is produced using renewable feedstock, it reduces carbon emissions by 80% in its lifecycle process. It also reduces other harmful gases like sulfur. Conventional jet fuels categorized as Jet A/A1 fuels have strict specifications, which are approved by a regulatory body ASTM. The primary grade of jet fuel should have the specification of ASTM D1655. The SAF meets the properties of conventional jet fuels, and thus it can also replace Jet A/A1 fuels entirely without altering the aircraft turbines.
To calculate the market size, the revenue generated through sales of SAFs for aviation industries, including commercial airlines, business, general airlines, military aircraft, and unmanned aerial vehicles, are considered. The report also presents the competitive landscape and a subsequent detailed profile of the key players operating in the market.
A negative economic outlook has been assumed in all the segments for 2020 due to COVID-19. A negative impact due to the Russia-Ukraine war that started in February 2022 has also been considered in this report. The growing economies are assumed to attract key companies in the market and increase consumer spending.
Furthermore, the study also discusses the market dynamics, such as drivers, restraints, opportunities, and challenges. It also examines new and emerging trends and their impact on current and future market dynamics.
Report Includes
In this backdrop, SAF is divided into two types:
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market Overview
3.1 Introduction
3.1.1 Sustainable Aviation Fuel Industry Trends
3.1.2 SAF Offtake Agreements
3.2 Factors Driving Market Growth
3.2.1 Pressing Need to Reduce CO2 Emissions
3.2.2 Growth in Air Travel
3.2.3 Green Public Relations
3.3 Market Restraint
3.3.1 High Cost
3.3.2 Policy Incentives
3.3.3 Feedstock Supply
3.4 Macroeconomic Factors of the SAF Market
3.4.1 Impact of COVID-19
3.4.2 Impact of the Russia-Ukraine war
Chapter 4 SAF by Technology
4.1 Technology
4.2 Global SAF Market, by Technology
4.3 Emerging Technology
4.3.1 Power-to-Liquid Technology
4.3.2 Sun-to-Liquid
4.4 Other Alternative Technology
4.4.1 Aircraft Electrification
4.4.2 Hydrogen Powered Aircraft
Chapter 5 SAF Market by Platform
5.1 Introduction
5.1.1 Commercial Flights
5.1.2 General and Business Flights
5.1.3 Unmanned Aerial Vehicles (UAVs)
5.2 Global SAF Market, by Platform
Chapter 6 SAF Market by Region
6.1 Introduction
6.2 Global SAF Market, by Region
6.3 Region-Wise Opportunities
Chapter 7 Company Profiles
7.1 Introduction
7.2 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/25f29s
ResearchAndMarkets.com
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CHICAGO--(BUSINESS WIRE)--Nearly 50 additional low-income homes in Cook County will soon undergo free energy-efficiency upgrades from ComEd and area natural gas companies, the result of a pair of grants from the Federal Home Loan Bank of Chicago (FHLBank Chicago).
Two grants, totaling more than $715,000, were recently awarded to the Midwest Energy Efficiency Alliance (MEEA). The funds will help MEEA further collaborate with ComEd, Nicor Gas, Peoples Gas and North Shore Gas on an ongoing program to rehabilitate the homes of low-income residents so that they can receive energy-efficiency improvements and services that can lower monthly energy bills.
“MEEA is honored to partner with the Federal Home Loan Bank, Providence Bank and Illinois utilities to address a problem facing so many homeowners. This braided funding will help make these homes safer and more energy efficient, so the residents can save money on their utility bills,” said Stacey Paradis, MEEA Executive Director.
Cook County homeowners who qualify for upgrades must have total household incomes at or below 60% of the Area Median Income which for a family of four is $62,520. The homes must also have identified structural or health and safety issues that need to be addressed before energy-efficiency improvements and services can be safely completed.
For ComEd customers, improvements and services are part of the award-winning ComEd Energy Efficiency program which, since 2008, has saved participating families and businesses more than $7 billion on their electric bills and helped remove the same amount of carbon emissions from the air equivalent to planting more than 30 million acres of trees.
“The ability to assist more low-income homes supports ComEd’s focus on equity for all customers,” said Melissa Washington, ComEd's chief customer officer and senior vice president of customer operations. “These homes tend to be older in design, with structural, health and safety issues, such as water leaks, that must be addressed before energy-efficiency technologies can be installed. Improvements to these homes means more families can take advantage of programs that help them save energy and manage bills through the life of their homes.”
The FHLBank Chicago grants awarded to MEEA, in partnership with Providence Bank, are among 35 totaling $20.6 million. They are designed to support the acquisition, rehabilitation and new construction of more than 1,600 housing units across Illinois and Wisconsin. MEEA’s application was submitted in partnership with ComEd, Nicor Gas, Peoples Gas and North Shore Gas.
With the FHLBank Chicago grants, MEEA and the utilities will be able to invest approximately $20,000 in services to each low-income home. The projects are scheduled to begin in 2023 and be completed within 36 months.
About Midwest Energy Efficiency Alliance
At MEEA, we leverage our expertise to be the Midwest’s leading resource for our members, allies, policymakers and the broader sector to promote energy efficiency as the essential pathway to achieve a clean, affordable, equitable and sustainable future. Visit www.mwalliance.org for more information.
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.
ComEd Media Relations
312-394-3500
SAN JUAN, Puerto Rico--(BUSINESS WIRE)--#energy--Linse Capital, a San Juan, Puerto Rico-headquartered growth equity firm, today announced the successful close of $700 million in capital raised. The capital will be allocated across the firm’s flagship fund –– Linse Capital Fund I (LCFI) –– alongside two co-investment vehicles for portfolio companies Skydio and Verkada.
LCFI has a dedicated commitment of $563 million to invest in world-leading industrial technology companies.
Michael Linse, formerly a partner at Kleiner Perkins, founded Linse Capital in 2015. He and Bastiaan Janmaat manage the firm and previously worked together as investors in Goldman Sachs’ Special Situations Group.
Since the firm’s inception, Linse Capital has raised more than $1.1 billion in committed capital. Linse Capital is backed by more than 400 family office investors, in addition to leading investment firms including affiliates of Oppenheimer & Co. and investment arms of publicly traded companies across the transportation, energy, logistics and real estate industries, including Daimler Truck and Taiwan Mobile.
LCFI will embrace Linse Capital’s concentrated strategy of investing in a select handful of new companies per year, investing between $100 million and $400 million in each business over time. Linse Capital aims to become the largest or one of the largest shareholders at exit. Linse Capital was a leading early investor in ChargePoint (CHPT: NYSE), an electric vehicle infrastructure company operating the largest network of independently owned electric vehicle charging stations. ChargePoint went public in 2021, and Linse Capital was the largest shareholder at IPO.
“We are in the early innings of the fourth industrial revolution, where technological trends such as artificial intelligence and software-enabled hardware are bringing unprecedented innovation to industries that have traditionally been slower to innovate,” said Bastiaan Janmaat, Linse Capital managing director. “We are grateful for the support of the large LP network we have assembled. Most of all, it’s exciting to back the founders and change-makers building the companies that are at the forefront of this new paradigm.”
Driving The Fourth Industrial Revolution
Industrial technology was long overlooked by venture capitalists due to its idiosyncratic risks –– it can be capital intensive, can require building supply chains and actual production facilities, typically involves deep engineering, and regulatory factors can become significant tailwinds or headwinds. A company that can traverse those risks finds itself in a position where those same risks become a moat around their business.
These are also companies that tend to be transformational for their industries, leading to more efficient, faster, cheaper, cleaner processes. It takes an exceptional founding and management team to build that kind of business. Linse Capital seeks to identify, invest in and provide strategic support for these types of companies.
McKinsey estimates Industry 4.0 will rapidly expand in the next few years and provide $3.7 trillion in value creation by 2025. Governments are coming to realize that these are some of the world’s most important businesses to nurture. We are seeing growing support, including the recent U.S. Infrastructure and Jobs Act as well as the Inflation Reduction Act, which together mandate in excess of $1 trillion in spending, much of it going toward the products and technologies of leading industrial-technology companies.
Doubling Down Across the Portfolio
Linse Capital believes building a high conviction and concentrated portfolio is the right approach to investing in industrial technology companies. When the firm identifies a world-class industrial technology company, Linse Capital prioritizes deep involvement in the company and outsized follow-on investments over broadening the portfolio. Linse Capital’s current portfolio, spanning LCFI as well as prior funds, includes the following market leaders:
About Linse Capital
Linse Capital is a growth equity firm that leverages multi-decade macro trends and deep sector knowledge to partner with a select number of entrepreneurs in the energy, mobility, logistics and real estate sectors, helping their businesses become world leaders in their respective industries. Linse Capital is headquartered in Puerto Rico and has raised $1.1 billion since inception. For more information, please visit www.linsecapital.com.
Treble
Ethan Parker
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--$OPAL--OPAL Fuels Inc. (“OPAL Fuels” or the “Company”) (Nasdaq: OPAL), a leading vertically integrated producer and distributor of renewable natural gas, today announced the expiration and results of its previously disclosed exchange offer (the “Offer”) and consent solicitation (the “Consent Solicitation”) relating to its outstanding (i) public warrants to purchase shares of Class A common stock of the Company, par value $0.0001 per share (the “Class A common stock”), which warrants trade on The Nasdaq Capital Market (the “Nasdaq”) under the symbol “OPALW”(the “public warrants”), and (ii) private placement warrants to purchase shares of Class A common stock (the “private placement warrants” and, together with the public warrants, the “warrants”). The Offer and Consent Solicitation expired at 11:59 p.m., Eastern Time, on December 16, 2022. The purpose of the Offer and Consent Solicitation is to simplify the Company’s capital structure and reduce the potential dilutive impact of the warrants, thereby providing the Company with more flexibility for financing its operations in the future.
The Company has been advised that 13,240,756 warrants (including 4,209 warrants tendered through guaranteed delivery), or approximately 85.7% of the outstanding warrants, were validly tendered and not validly withdrawn prior to the expiration of the Offer and Consent Solicitation. The Company expects to accept all validly tendered warrants for exchange and settlement on or before December 21, 2022.
In addition, pursuant to the Consent Solicitation, the Company received the approval of parties representing approximately 96.5% of the outstanding public warrants and approximately 78.5% of the outstanding private placement warrants to amend the warrant agreement that governs the warrants (such amendment, the “Warrant Amendment”), which exceeds the threshold of 65% of each of the outstanding public warrants and outstanding private placement warrants required to effect the Warrant Amendment. Accordingly, the Company and Continental Stock Transfer & Trust Company entered into the Warrant Amendment, dated December 19, 2022, and the Company announced that it will exercise its right, in accordance with the terms of the Warrant Amendment, to exchange each warrant that is outstanding upon the closing of the Offer for 0.225 shares of Class A common stock per warrant, which is a ratio 10% less than the exchange ratio applicable to the Offer (the “Post-Offer Exchange”). The Company has fixed the date for the Post-Offer Exchange as December 23, 2022.
As a result of the completion of the Offer and the Post-Offer Exchange, no warrants will remain outstanding. Accordingly, the public warrants will be suspended from trading on the Nasdaq and will be delisted upon completion of the Post-Offer Exchange. The shares of Class A common stock will continue to be listed and trade on the Nasdaq under the symbol “OPAL.” Following completion of the Offer, there are approximately 28,981,579 shares of Class A common stock outstanding (an increase of approximately 12.9% from prior to the closing of the Offer) and following completion of the Post-Offer Exchange there will be approximately 29,477,870 shares of Class A common stock outstanding (an increase of approximately 14.8% from prior to the closing of the Offer and the Post-Offer Exchange).
The Company engaged BofA Securities as the dealer manager for the Offer and Consent Solicitation, D.F. King & Co., Inc. as the information agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company served as the exchange agent for the Offer and Consent Solicitation.
About OPAL Fuels Inc.
OPAL Fuels Inc. (Nasdaq: OPAL) is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (“RNG”) for the heavy-duty truck market. RNG is a proven low-carbon fuel that is rapidly decarbonizing the transportation industry now while also significantly reducing fuel costs for fleet owners. OPAL Fuels captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. The Company also develops, constructs, and services RNG and hydrogen fueling stations. As a producer and distributor of carbon-reducing fuel for heavy-duty truck fleets for more than a decade, OPAL Fuels delivers complete renewable solutions to customers and production partners.
Forward-Looking Statements
Certain statements in this communication may be considered forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and generally relate to future events or OPAL Fuels’ (the “Company’s”) future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “target,” “plan,” “expect,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management’s control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements” in the Company’s quarterly report on Form 10-Q, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.
Disclaimer
This communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or buy, any securities, nor shall there be any sale, issuance or transfer or securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Media
Jason Stewart
Senior Director Public Relations & Marketing
914-421-5336
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ICR, Inc.
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Investors
Todd Firestone
Vice President Investor Relations & Corporate Development
914-705-4001
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DUBLIN--(BUSINESS WIRE)--The "Disruptive Technologies Accelerating the Growth of Concentrated Solar Power" report has been added to ResearchAndMarkets.com's offering.
This research service focuses on new and disruptive technologies in the concentrated solar power (CSP) industry.
Solar energy technology has witnessed consistent improvements in terms of energy and cost efficiency. While solar photovoltaics is currently the most widely adopted method of solar energy utilization, CSP technology has several features which make it an attractive alternative at the utility scale for energy generation and heating applications.
The key advantage of a CSP system is its ability to store excess electricity in the form of thermal energy. CSP technologies generate electricity by utilizing mirrors to reflect, concentrate, and direct incident sunlight onto a specific point to create thermal energy.
This thermal energy can then be either stored in thermal energy storage devices or used to create steam to drive turbines for electricity generation.
This enables CSP to be the source of both electrical and thermal energy and find applications in heat recovery. However, despite the ability to offer better conversion efficiencies, the capital expenditure of CSP technology is hindering deployment.
This study provides the following:
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. Technology Snapshot
4. Innovation Ecosystem: Companies to Watch
5. Regulatory Landscape and IP Analysis
6. Growth Opportunity Universe
7. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/5wa9cn
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced it has closed on a revolving credit facility (the “Credit Facility”) which provides the Company with up to $200 million in financing to support its growth of assets and ability to serve additional customers with solar energy generation, storage and vehicle charging. The Credit Facility carries a term of 5 years with a maturity of December 19, 2027.
Altus Power’s installed base of operating assets--currently serving customers with clean energy across 22 states--provides attractive recurring cash flow generation which can be redeployed to support the Company’s growth. The Credit Facility enhances the Company’s liquidity and financial flexibility as it pursues various growth initiatives and development activities.
“Securing a corporate revolver is one of the milestones that marks our maturity as a publicly traded company. The additional flexibility provided by our new Credit Facility allows us to confidently invest our cash position to grow our business and is one of the many competitive advantages we enjoy alongside our strategic partnerships with CBRE and Blackstone,” commented Dustin Weber, Chief Financial Officer of Altus Power.
The Joint Lead Arrangers and Joint Bookrunners for the Credit Facility were Citibank, N.A., Bank of America, N.A., JPMorgan Chase Bank, N.A., KeyBank National Association and Truist Securities, Inc.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the premier independent commercial-scale clean electrification company serving commercial, industrial, public sector and community solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements may be identified by the use of words such as “believes,” “expects,” “intends,” “aims,” “may,” “could,” “will,” “should,” “plans,” “projects,” “forecasts,” “seeks,” “anticipates,” “goal,” “objective,” “target,” “estimate,” “future,” “outlook,” “vision,” or variations of such words or similar terminology that predict or indicate future events or trends or that are not statements of historical matters.
Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Altus Power’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found under the heading “Risk Factors” in Altus Power’s Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 24, 2022, Altus Power’s Form 10-Q filed with the SEC on November 14, 2022, as well as the other information the Company files with the SEC. New risks and uncertainties arise from time to time, and it is impossible for Altus Power to predict these events or how they may affect the Company. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made and the information and assumptions underlying such statement as known by Altus Power on the date such statement was made, and Altus Power undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, changes in expectations, future events or otherwise.
This press release is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Altus Power and is not intended to form the basis of an investment decision in Altus Power. All subsequent written and oral forward-looking statements concerning Altus Power or other matters and attributable to Altus Power or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above.
Altus Power:
Chris Shelton, Head of IR
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-- Completes Business Model Transformation into a Pure-play Clean Energy Provider--
--Stronger Financial Position with Substantially Reduced Cash Usage--
WIXOM, Mich.--(BUSINESS WIRE)--Spruce Power (NYSE: SPRU) (“Spruce” or the “Company”; formerly known as XL Fleet), a leading owner and operator of distributed solar energy assets across the United States, today announced completion of its strategic transformation to a pure play clean energy solutions business:
The Company anticipates that these actions will be completed by January 1, 2023 and should significantly reduce future operating cash use. Additionally, Spruce believes that the previously disclosed warranty reserve is sufficient to meet probable claims covering those vehicles currently under warranty.
“These actions transform our business into a pure-play provider of clean energy solutions to residences and small businesses,” said Eric Tech, Chief Executive Officer of Spruce Power. “We are excited that our former colleagues will have a new opportunity with Shyft to bring EV solutions to specialty commercial vehicle manufacturing, assembly, and upfit. We wish them well in the transition.”
Tech continued, “With these steps, our business transformation is complete, and we enter 2023 in a strong position, able to unlock the value of Spruce Power as a streamlined and refocused company. As a pure play renewable energy provider, we can soon transition the Chief Executive Officer role from me to our President Christian Fong. We expect to announce that transition in the weeks ahead.”
About Spruce Power
Spruce Power is a leading owner and operator of distributed solar energy assets across the United States. We provide subscription-based services that make it easy for homeowners and small businesses to own and maintain rooftop solar and battery storage. Our as-a-service model allows consumers to access new technology without making a significant upfront investment or incurring maintenance costs. Our company has more than 51,000 subscribers across the United States. For additional information, please visit www.sprucepower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements, including but not limited to: expectations regarding the growth of the solar industry, home electrification, electric vehicles and distributed energy resources; the ability to successfully integrate the Spruce Power acquisition; the highly competitive nature of the Company’s business and markets; the ability to execute on and consummate business plans in anticipated time frames; litigation, complaints, warranty claims, product liability claims and/or adverse publicity; results of operations, financial condition, regulatory compliance and customer experience; the potential loss of customers; privacy and data protection laws, privacy or data breaches, or the loss of data; general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; risks related to the rollout of the Company’s business and the timing of expected business milestones, including supply chain and labor shortage challenges in the solar panel markets; the effects of competition on the Company’s future business; the availability of capital; and the other risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed on March 31, 2022, subsequent Quarterly Reports on Form 10-Q and other documents that the Company files with the SEC in the future. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company specifically disclaims any obligation to update these forward-looking statements.
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HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today it was named to the 2022 Dow Jones Sustainability Indices (DJSI), which recognize the top 10% most sustainable companies.
The DJSI use environmental, social and governance (ESG) criteria to measure and rank the performance of best-in-class companies selected for its list. When compared to its peers, Halliburton ranked in the 98th percentile and received high marks in the Human Capital Development, Risk & Crisis Management, and Business Ethics categories.
“At Halliburton, our business enables the supply of sustainable, affordable, and safe energy for all, and we constantly work to use the most innovative technology to reduce environmental impact,” said Summer Condarco, senior vice president of Service Quality, Continuous Improvement and Chief HSE Officer at Halliburton. “We are honored to be recognized by the Dow Jones Sustainability Indices for our sustainability leadership and commitment.”
For more information on the DJSI and methodology, please visit the S&P Global website.
About Halliburton
Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on Facebook, Twitter, LinkedIn, Instagram and YouTube.
Investor Relations Contact
David Coleman
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281-871-2688
Press Contact
Brad Leone
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281-871-2601
KILGORE, Texas--(BUSINESS WIRE)--Enviro Technologies U.S., Inc. (OTC Pink: EVTN) (“EVTN” or the “Company”) today announced that its Board of Directors has approved and declared a record date and distribution date for a four-for-one forward split of the Company’s common stock. The intended forward stock split was previously announced on September 7, 2022 following the Company’s acquisition of Banner Midstream Corp. Company shareholders of record at the close of business on December 30, 2022 will receive three additional shares of the Company’s common stock for each then-held share of common stock. The additional shares will be distributed after the close of business on January 16, 2023. Trading will begin on a stock split-adjusted basis on January 17, 2023. Following the forward stock split, there will be approximately 74,268,332 common shares issued and outstanding and 1,000,000,000 authorized common shares.
On September 13, 2022, Ecoark Holdings, Inc. (“Ecoark”) (NASDAQ: ZEST) announced the rebranding and renaming of Enviro Technologies, a majority-owned indirect subsidiary, to Wolf Energy Services. On September 7, 2022, Enviro filed with the State of Florida to begin conducting business as Wolf Energy Services. The Company expects to request approval from its shareholders and the Financial Industry Regulatory Approval (“FINRA”) to formally change its business name to Wolf Energy Services Inc. This rebranding and renaming initiative is the completion of the Company’s first planned step, after its recently completed reverse merger, to begin developing a larger and more diversified oilfield services company.
About EVTN
EVTN, through its wholly owned subsidiary, Banner Midstream Corp., has two operating subsidiaries: Pinnacle Frac Transport LLC (“Pinnacle Frac”) and Capstone Equipment Leasing LLC (“Capstone”). Pinnacle Frac provides transportation of frac sand and logistics services to major hydraulic fracturing and drilling operations. Capstone procures and finances equipment to oilfield transportation service contractors.
Safe Harbor Disclosure
This Press Release contains or incorporates by reference "forward-looking statements," including certain information with respect to plans and strategies of EVTN. For this purpose, any statements regarding this announcement, which are not purely historical, are forward-looking statements, including EVTN beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and based on information available to EVTN as of such date. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, the risks and uncertainties set forth in our Annual Report on Form 10-K for the year ended December 31, 2021 and Form 10-Q for the quarterly period ended September 30, 2022, as filed with the Securities and Exchange Commission. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of EVTN and are difficult to predict. EVTN undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Jim Galla
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CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO, NYSE American: IMO) today provided an update on its corporate guidance outlook for 2023. The company’s corporate strategy remains focused on maximizing performance of existing assets and select growth initiatives, while prioritizing shareholder returns and delivering key sustainability initiatives.
Capital spending is forecast at $1.7 billion and includes a planned ramp-up for the Strathcona Renewable Diesel project, application of solvent technologies at Cold Lake and ongoing investment on the in-pit tailings project at the Kearl oil sands facility. Imperial has included approximately $200 million in incremental capital in its 2023 plans predominantly due to accelerating the start-up of the first phase of Cold Lake Grand Rapids by about one year to year-end 2023, as well as adding incremental and accretive rail transportation scope to the planned Strathcona Renewable Diesel project to increase access to high-value markets. A final investment decision for the renewable diesel project is expected in the coming months and will be based on several factors including government support and approvals, market conditions and economic competitiveness.
In the Upstream, production is forecast between 410,000 and 430,000 gross oil equivalent barrels per day, reflecting the sale of the company’s interests in XTO Energy Canada. The production outlook is underpinned by planned strong operating performance in the company’s core oil sands assets and continued production growth at Kearl. Kearl remains on track to increase production to 280,000 total gross barrels per day by 2024 through reliability and maintenance improvements, debottlenecking and digital initiatives. At Cold Lake, the company is focused on progressing capital-efficient projects, including Grand Rapids and the Leming redevelopment, to sustain and grow production while reducing greenhouse gas intensity through accelerated deployment of new recovery technologies that lower emissions.
In the Downstream, throughput is forecast to be between 395,000 and 405,000 barrels per day with capacity utilization between 92% and 94%, reflecting an increase in planned turnaround activity at the company’s Strathcona and Sarnia refineries in 2023. Strategic investments in efficient logistics, reliability and low-carbon product offerings ensure the company remains well positioned to continue maximizing production to provide a stable supply of fuel products to meet Canadian demand.
“Imperial’s plans reflect our company’s aggressive pursuit of attractive opportunities to reduce emissions, increase production and increase profitability,” said Brad Corson, chairman, president and chief executive officer. “Our priority remains to maximize value for our shareholders and the company’s fully integrated, high-quality assets position us well to continue delivering on our commitments throughout 2023.”
A detailed mid-term outlook is planned for Imperial’s investor day on April 19, 2023 in Toronto.
2023 Full-Year Guidance |
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Canadian dollars, unless noted |
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Total capital and exploration expenditures $M |
1,700 |
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Upstream production boe/d |
410,000 - 430,000 |
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Kearl (gross) bbl/d |
265,000 - 275,000 |
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Cold Lake bbl/d |
135,000 - 140,000 |
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Syncrude bbl/d |
75,000 - 80,000 |
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Refinery throughput kbd |
395,000 - 405,000 |
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Refinery utilization % |
92% - 94% |
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Production is Imperial share before royalties, except Kearl which is 100% gross basis |
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2023 Planned Turnarounds |
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Full-year operating cost, production, crude throughput impacts |
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Upstream: |
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2Q: Kearl, 8 kbd, $75M operating cost (IOL share) |
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3Q: Cold Lake, 2 kbd, $20M operating cost |
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2Q/3Q: Syncrude Coker, 5 kbd, $70M operating cost |
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3Q/4Q: Syncrude Hydrotreater, 3 kbd, $25M operating cost |
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Downstream & Chemical: |
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2Q: Strathcona refinery, 6 kbd, $120M operating cost |
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3Q/4Q: Sarnia refinery & chemical plant, 9 kbd, $165M operating cost |
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Upstream production is Imperial share before royalties |
Forward-looking statements
Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, goal, seek, project, predict, target, estimate, expect, strategy, outlook, forecast, schedule, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this report include, but are not limited to, references to Imperial’s corporate strategy remaining focused on maximizing existing assets, select growth initiatives, shareholder returns and key sustainability initiatives; anticipated capital and exploration expenditures of $1.7 billion for 2023; the anticipated startup of Cold Lake Grand Rapids Phase 1; a final investment decision for the Strathcona Renewable Diesel project; total Upstream and asset production guidance for 2023, Kearl remaining on track to deliver 280,000 gross barrels per day by 2024; Cold Lake’s focus on projects to sustain and grow production and reduce greenhouse gas intensity; Downstream throughput and utilization guidance, and being well positioned to maximize production to provide a stable supply of fuel products; and the cost and impact of 2023 planned turnarounds.
Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning demand growth and energy source, supply and mix; commodity prices, foreign exchange rates and general market conditions; production rates, growth and mix across various assets; project plans, timing, costs, technical evaluations and capacities and the company’s ability to effectively execute on these plans and operate its assets, including Kearl’s in-pit tailings project, Cold Lake Grand Rapids and solvent technologies projects, and the Strathcona Renewable Diesel project, and any changes in the scope, terms, or costs of such projects; factors influencing a final investment decision for the Strathcona Renewable Diesel project; the impact of digital initiatives and debottlenecking on Kearl production; the adoption and impact of new facilities or technologies such as the deployment of new solvent technologies at Cold Lake, including on key sustainability initiatives; receipt of regulatory approvals; maintenance and turnaround activity and cost; cash generation, financing sources and capital structure; capital and environmental expenditures; refinery utilization; progression of COVID-19; and applicable laws and government policies could differ materially depending on a number of factors.
These factors include global, regional or local changes in supply and demand for oil, natural gas, and petroleum and petrochemical products and resulting price, differential and margin impacts, including foreign government action with respect to supply levels and prices and the impact of COVID-19 on demand; project management and schedules and timely completion of projects; availability and performance of third-party service providers; unanticipated technical or operational difficulties; operational hazards and risks; the results of research programs and new technologies, and ability to bring new technologies to commercial scale on a cost-competitive basis; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; lack of required support from governments and policymakers for adoption of new technologies for emissions reductions; environmental risks inherent in oil and gas exploration and production activities; the receipt, in a timely manner, of regulatory and third-party approvals; transportation for accessing markets; political or regulatory events, including changes in law or government policy such as tax laws and actions in response to COVID-19; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; cybersecurity incidents, including increased reliance on remote working arrangements; availability and allocation of capital; currency exchange rates; general economic conditions and other factors discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.
In this release all dollar amounts are expressed in Canadian dollars unless otherwise stated. This release should be read in conjunction with Imperial’s most recent Form 10-K.
The term “project” as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.
Capital and exploration expenditures
Capital and exploration expenditures (or capital expenditures) represent the combined total of additions at cost to property, plant and equipment, additions to finance leases, additional investments and acquisitions; exploration expenses on a before-tax basis from the Consolidated statement of income; and the company’s share of similar costs for equity companies. Capital and exploration expenditures exclude the purchase of carbon emission credits.
Operating costs
Operating costs is a non-GAAP financial measure that are the costs during the period to produce, manufacture, and otherwise prepare the company’s products for sale – including energy costs, staffing and maintenance costs. It excludes the cost of raw materials, taxes and interest expense and are on a before-tax basis. The most directly comparable financial measure that is disclosed in the financial statements is total expenses within the company’s Consolidated statement of income. While the company is responsible for all revenue and expense elements of net income, operating costs represent the expenses most directly under the company’s control and therefore, are useful in evaluating the company’s performance. Reconciliation of historical annual operating costs is incorporated by reference and can be found in the company’s most recent annual report on Form 10-K under the heading “Frequently Used Terms”, available on EDGAR at www.sec.gov, SEDAR at www.sedar.com, and the company’s website at www.imperialoil.ca.
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
Source: Imperial
For further information:
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MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. ("ProPetro" or the “Company") (NYSE: PUMP) today announced the appointment of John J. (“Jody”) Mitchell as General Counsel and Corporate Secretary, effective January 1, 2023. Mr. Mitchell, who currently serves as Vice President and Deputy General Counsel of ProPetro, will succeed Newton W. (“Trey”) Wilson III, who will retire, effective December 31, 2022.
Sam Sledge, ProPetro Chief Executive Officer, said, “We are pleased to announce Jody’s appointment as ProPetro’s next General Counsel. Jody has quickly become a valuable member of the ProPetro leadership team with his significant legal expertise, commercial acumen, leadership capabilities, and well-rounded experience in our industry. I’m excited to continue working alongside Jody as we focus on executing our strategy and delivering value to our shareholders.”
Mr. Sledge added, “On behalf of the entire Board and management team, I want to thank Trey for the significant contributions he has made to our company over the past three years. During his tenure, Trey helped ProPetro successfully navigate some of the most challenging moments in our history, including a global pandemic. Throughout, he led our legal department with the utmost integrity and commitment while also mentoring and advising many leaders across our business. We are grateful for his leadership and wish him all the best in his retirement.”
“It has been a privilege to work with one of the most dedicated and talented teams in the business, and I could not be prouder of what we have accomplished together,” said Mr. Wilson. “With Jody assuming the role, I am confident in the continued execution of our long-term succession plan and I look forward to watching the Company’s continued success for years to come.”
Mr. Mitchell commented, “I am honored to be named General Counsel at a time of such strength and momentum for ProPetro. I look forward to working with Sam and the rest of the team as we continue to execute on the opportunities ahead for ProPetro.”
About Jody Mitchell
Mr. Mitchell brings more than 15 years of legal experience in the oil and gas industry. Prior to joining ProPetro in 2021 as Vice President and Deputy General Counsel, he served in a number of senior roles at Concho Resources, including as Director of Marketing and Midstream and Associate General Counsel. He began his career as an Associate at Locke Lord Bissell & Liddell LLP, concentrating on oil, gas and energy litigation and construction litigation. Mr. Mitchell received a Bachelor of Arts from The University of Texas at Austin and a Juris Doctor from the University of Houston.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing completions services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
Forward-Looking Statements
Except for historical information contained herein, the statements and information in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words “may,” “could,” “plan,” “project,” “budget,” “predict,” “pursue,” “target,” “seek,” “objective,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” and other expressions that are predictions of, or indicate, future events and trends and that do not relate to historical matters identify forward-looking statements. Our forward-looking statements include, among other matters, statements about our business strategy, industry, future profitability, expected fleet utilization, sustainability efforts, the future performance of newly improved technology, expected capital expenditures and the impact of such expenditures on our performance and capital programs. A forward-looking statement may include a statement of the assumptions or bases underlying the forward-looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable.
Although forward-looking statements reflect our good faith beliefs at the time they are made, forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the volatility of oil prices, the operational disruption and market volatility resulting from the COVID-19 pandemic, the global macroeconomic uncertainty related to the Russia-Ukraine war, and other factors described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it, including matters related to shareholder litigation. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements and are urged to carefully review and consider the various disclosures made in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings made with the SEC from time to time that disclose risks and uncertainties that may affect the Company’s business. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.
Investor Contacts:
David Schorlemer
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432-227-0864
Matt Augustine
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DONGYING, China--(BUSINESS WIRE)--Dongying, a city in East China’s Shandong province, has been helping local enterprises expand in international markets as part of the city’s attempt to achieve a higher level of opening-up.
At Dahai New Energy, a photovoltaic production enterprise in Dongying, workers stay busy on the production line processing overseas orders. Even though the impact of the COVID-19 pandemic caused many challenges for foreign trade, Dahai New Energy can still receive a large number of overseas orders. In addition to the company’s excellent production quality, it also benefits from the local government’s supporting policies.
The order marks the start of a new partnership between Austria and Dongying's new energy enterprises. “It is a project related to the Belt and Road Initiative and promoted by the Dongying government. We are very grateful to the government for helping our company open up to the Austrian market,” said Wang Yongjin, director of the foreign trade department of Dahai New Energy Co.
Since the beginning of 2022, the Dongying municipal bureau of commerce has organized more than 200 foreign-invested companies to attend more than 50 offline and online trade exhibitions in countries including the United States, Germany, South Korea and Japan in battery and auto parts fields to seek trade orders.
During the Automechanika Dubai, which was held from Nov 22 to 24, two rubber companies from Dongying – Hongsheng and Roadboss — reached agreements worth $23 million.
According to the statistics from Dongying customs, during the first three quarters of this year, the city’s foreign trade value hit 19.77 billion yuan ($2.83 billion), ranking fourth in Shandong province. It was 33.3 percent higher than the same period last year, 17.8 percentage points higher than the overall growth rate of the province's foreign trade.
The recent 20th National Congress of the Communist Party of China emphasized that more efforts need to be made to promote a higher level of opening-up, and foster a new pattern of development that features positive interplay between domestic and international economic flows.
In the future, Dongying government plans to increase support and services in policy implementation, certificate processing, and exhibition negotiation for foreign trade companies to explore foreign markets, promote foreign trade growth and further deepen opening-up.
Dongying Municipal Publicity Department
Alina Liu
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DUBLIN--(BUSINESS WIRE)--The "Global Artificial Lift Systems Market, By Type (Electric Submersible Pump, Progressive Cavity Pump, Rod Lift, Gas Lift, and Others), By Application (Onshore, Offshore), By Component, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The global artificial lift systems market is expected to witness robust growth.
The growth of the market is attributed to heavy shale oil and heavy oil gas production due to massive energy demands across the globe. Negative effects on the environment and limited availability of conventional energy sources on earth are shifting the focus towards the adoption of unconventional energy sources.
Also, the high-end investments by the market players to adopt advanced technologies to increase the production from mature fields are expected to create numerous growth opportunities for the market players in the coming year.
North America is expected to capture the highest market share in the forecast period, 2023-2027. Technological advancements and innovations in the artificial lift systems market influence the demand.
Also, the rise in demand for energy from major cities of North America and the development of multi-well facilities by key players integrated with artificial lift system is bolstering the market growth.
Major companies are developing advanced technologies and launching new products to stay ahead in the market.
Objective of the Study:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global artificial lift systems market.
Report Scope:
Years considered for this report:
Artificial Lift Systems Market, By Type:
Artificial Lift Systems Market, By Application:
Artificial Lift Systems Market, By Component:
Artificial Lift Systems Market, By Region:
North America
Europe
Asia-Pacific
Middle East & Africa
South America
For more information about this report visit https://www.researchandmarkets.com/r/tvmxqs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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