DALLAS--(BUSINESS WIRE)--AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced that its Board of Directors has declared a quarterly cash dividend of $0.15 per share as part of its ongoing quarterly dividend program. The dividend is payable on July 22, 2022 to stockholders of record as of the close of business on July 6, 2022.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
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Will Gabrielski
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Expedition to the Deepest Point on Earth Will Collect Images and Data Advancing Marine Science and Conservation
REDLANDS, Calif.--(BUSINESS WIRE)--On or about July 12, a two-person team will descend nearly 36,000 feet into the Pacific Ocean to capture images and data from the Challenger Deep, the deepest known point in the Earth's ocean. The expedition team will include Victor Vescovo, undersea explorer and founder of the ocean research company Caladan Oceanic, as pilot and Dr. Dawn Wright as mission specialist. The expedition will be led and coordinated by expedition leader Rob McCallum, founder of EYOS Expeditions.
As chief scientist of Esri, the global leader in location intelligence and geographic information system (GIS) technology, Wright will support the dive with her expertise in marine geology and the company's geospatial technology. Through the expedition, she is also poised to become one of the few individuals—and the first Black person—to visit Challenger Deep, located within the Mariana Trench.
"I am excited to support the science and mapping goals of Victor and his Caladan Oceanic team and to further strengthen the relationship between our two organizations," said Wright. "It is a great opportunity to perform more detailed mapping of the entirety of Challenger Deep, as well as to just fulfill my dream of visiting the location. There is still so much we don't know about the vast majority of our own planet. This is why it is such an important scientific endeavor to understand the oceans better."
Wright plans to release a series of maps and data from the dive on Esri's ArcGIS Living Atlas of the World, the foremost collection of geographic information—including maps, applications, and data layers—from around the world. One goal of making this data available is to add to the understanding of the shape and structure of this deepest part of the planet, as well as how human activity can affect such places. Maps of the seafloor are vital for everything from ship navigation to climate modeling. They provide a three-dimensional understanding of ocean volume that climate scientists need to build better models of climate change, and that conservationists need to fully assess and design marine protected areas.
Vescovo, who will host the July expedition and pilot the submersible, is also an operating partner and cofounder at Insight Equity. He has made dives to the deepest points in all five of the world's oceans and made 12 prior visits to Challenger Deep. To do so, he commissioned Triton Submarines LLC to design and build the Limiting Factor, the only vehicle that is commercially certified for unlimited depth and capable of repeatedly visiting any ocean, at any depth, at any time of year. Less well-known is that Vescovo has piloted the submersible to the five absolute deepest points in the ocean: the Challenger, Horizon, Scholl, Emden, and Sirena Deeps in the Mariana, Tonga, Kermadec, Philippine, and Mariana Trenches, respectively.
"The oceans . . . [are] 70 percent of our entire planet and, of that, 95 percent is unexplored," Vescovo said in a 2019 TED talk. "So what we're trying to do with our expedition is to build and prove out a submersible that can go to any point on the bottom of the planet . . . multiple times, which has never been done before. And this [submersible] . . . will open that door to exploration and [allow us to] find things that we had no idea even existed."
Expedition leader McCallum added: "This remarkable submersible is the pathfinder to the last frontier of exploration on Earth: the hadal zone. The discoveries it will enable during its career are almost beyond imagination."
During the July expedition, Vescovo and Wright will set out from Guam to test a first of its kind, full-ocean-depth sonar in an attempt at finer-scale mapping of depths over six times deeper than the Grand Canyon. Caladan's expedition team and Wright will use Esri's GIS software to postprocess the raw sonar data and produce what they hope is the most detailed map yet of the deepest place on Earth.
Vescovo and Wright support marine science through their individual affiliations with the Explorers Club, a New York-based professional society promoting scientific exploration and field study. As an awardee of the Explorers Medal in 2020, Vescovo has achieved the society's highest honor. As a Fellow National, Wright has earned recognition for significant contributions to seafloor exploration and mapping. She has also authored and contributed to some of the most definitive literature on marine GIS technology.
To learn more about Wright's historic expedition to Challenger Deep, visit mappingthedeep-story.hub.arcgis.com.
About Caladan Oceanic
Caladan Oceanic is a private company dedicated to the advancement of undersea technology and supporting expeditions to increase the understanding of the oceans. Founder Victor Vescovo, a former Commander in the US Navy, has long had a passion for exploration and has summited the highest peak on all seven of the world's continents, including Mount Everest, and skied at least 100 kilometers to both the North and South Poles. With the completion of the Five Deeps Expedition in August 2019, Vescovo became the first person in history to have been to the top of all the world's continents, to reach both poles, and to descend to the bottom of all its oceans. He also holds the record for the most dives to the bottom of Challenger Deep, the deepest point on the planet, a total of twelve times. He was awarded the Explorers Medal in March 2020, received the 2021 SeaKeeper of the Year Award at the International SeaKeepers Society ceremony in Miami in February 2022, as well as the 2021 Captain Don Walsh Award for Ocean Exploration by the Society for Underwater Technology (SUT) and The Marine Technology Society (MTS) in London in early 2022. In June 2022 he went 100km into space on Blue Origin’s New Shephard-21 mission and thus became the first human to climb Mt. Everest, dive to Challenger Deep, and go into space.
About EYOS Expeditions
EYOS Expeditions has been designing complex and challenging expeditions for private vessels since 2008. Drawing on the decades of experience of the company's co-founders, the EYOS team has delivered over 1,200 safe and successful expeditions to some of the most remote destinations on Earth. EYOS Expeditions holds several "world firsts" and routinely takes clients to destinations rarely or never before visited and in 2020 was awarded the Explorers Club's highest award, the 'Citation of Merit,' for the highly successful 10-month 'Five Deeps Expedition.' EYOS Expeditions has worked behind the scenes on many of the industry's ground-breaking itineraries and has a long history of delivering once-in-a-lifetime experiences for clients while maintaining the highest standards of safety, professionalism, and environmental stewardship. EYOS Expeditions is today regarded as the industry leader for planning and operating remote expeditions using submersibles, and for coordinating complex science missions.
About Triton Submarines
Triton Submarines of Sebastian, Florida, is the most experienced civil submarine producer in the world today – and the only contemporary manufacturer of acrylic and titanium pressure-hull-equipped personal submarines to deliver multiple classed and certified vessels with rated diving depths as shallow as 200 meters to depths as great as 11,000 meters. Triton Submarines' senior staff have over 400 years of combined experience with more than 100 different submersibles, and its operations team members have together logged over 35,000 dives. Triton clients also enjoy superlative after-sales service and technical support from a company dedicated to their total satisfaction.
About Esri
Esri, the global market leader in geographic information system (GIS) software, location intelligence, and mapping, helps customers unlock the full potential of data to improve operational and business results. Founded in 1969 in Redlands, California, USA, Esri software is deployed in more than 350,000 organizations globally and in over 200,000 institutions in the Americas, Asia and the Pacific, Europe, Africa, and the Middle East, including Fortune 500 companies, government agencies, nonprofits, and universities. Esri has regional offices, international distributors, and partners providing local support in over 100 countries on six continents. With its pioneering commitment to geospatial information technology, Esri engineers the most innovative solutions for digital transformation, the Internet of Things (IoT), and advanced analytics. Visit us at esri.com.
Copyright © 2022 Esri. All rights reserved. Esri, the Esri globe logo, ArcGIS, The Science of Where, esri.com, and @esri.com are trademarks, service marks, or registered marks of Esri in the United States, the European Community, or certain other jurisdictions. Other companies and products or services mentioned herein may be trademarks, service marks, or registered marks of their respective mark owners.
Jo Ann Pruchniewski
Public Relations, Esri
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John Cotton
Public Relations, Caladan Oceanic and EYOS
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New LACI Fund to Provide an Affordable Alternative to Venture Capital For Startups; By Not Requiring Personal Collateral or Credit Scores, LACI Aims to Help Underrepresented Founders in Particular Overcome Historical, Institutional Barriers to Access to Capital
LOS ANGELES--(BUSINESS WIRE)--The Los Angeles Cleantech Incubator (LACI) announced the launch of their nationwide LACI Cleantech Debt Fund, a first-of-its-kind green loan program to scale early stage cleantech startups and accelerate equitable climate action.
The $6 million fund will provide loans of $25,000 to $250,000 to an estimated 100 early-stage startups over five years, providing a non-dilutive alternative to venture capital for companies that need financing to support their first customer orders or working capital to scale their businesses. LACI endeavors to help underrepresented founders–in particular female, Black, and Brown founders–overcome some of the institutional and historical barriers they face in accessing capital to grow their business. Unlike most traditional bank loans, the LACI Cleantech Debt Fund will not require founders’ personal collateral or their personal credit scores in underwriting.
LACI created the Cleantech Debt Fund in partnership with anchor investors Sobrato Philanthropies and Homecoming Capital, who are aligned in their missions to support more entrepreneurial innovation to address climate challenges. Additionally, the Wells Fargo Foundation is providing a grant to cover initial operating costs and loan loss reserves.
“To help cleantech startups move at the speed and scale needed to meet the climate crisis, we created the LACI Cleantech Debt Fund as a new tool to give early stage cleantech founders a timely, affordable alternative to expensive venture capital and slow moving bank debt,” said LACI CEO Matt Petersen. “The LACI Cleantech Debt Fund will also help reduce barriers to capital for underserved founders from historically underrepresented communities–too many founders cannot access traditional bank financing as they lack adequate personal assets, or the personal networks needed to secure early stage investment.”
“We need lots of approaches to innovation to address our current climate challenges, and we’re excited to partner with LACI to fill a capital gap that will enable more companies, from more regions and founder backgrounds, to access investment for their growing businesses.” said Victoria Fram of Sobrato Philanthropies and Pat Arnold of Homecoming Capital. “LACI along with Greentown Labs, Evergreen Climate Innovations, and New Energy Nexus are well-positioned to source a diversified pipeline of entrepreneurial solutions, and we’re glad to partner with them as co-investors.”
“To scale a company like ours and keep creating jobs, you need funding that isn’t easily acquired by minority owned businesses,” said Josh Aviv, CEO and Co-Founder of SparkCharge, a portfolio company of both LACI and Greentown Labs, which received an initial loan from the LACI pilot debt fund. “LACI’s Cleantech Debt Fund helps level the playing field, reducing the financial risks and truly enabling businesses to thrive. They are incredible partners who understand the challenges startups face.”
“We are excited to have the Wells Fargo grant play a catalytic role in attracting other sources of capital to the new LACI Cleantech Debt Fund,” said Ramsay Huntley, Climate and Innovation Strategy Lead at Wells Fargo. “So many businesses will benefit from LACI’s commitment to climate equity and their ability to identify companies ready for greater investment. This fund represents a shared belief that entrepreneurs motivated by climate action have the power to make an impact even early in their business journey.”
"The scaled-up LACI Cleantech Debt Fund is paramount to giving our founders choices across the full capital stack, with debt on the one hand via this innovative fund and equity via the LACI Impact Fund on the other,” said LACI SVP Alex Mitchell.
LACI is also partnering with a limited network of leading incubation organizations whose portfolio companies will be eligible to qualify for loans from the Cleantech Debt Fund, including Greentown Labs (Boston, MA & Houston, TX), Evergreen Climate Innovations (Chicago, IL), and New Energy Nexus (Oakland, CA & New York, NY). LACI selected Impact investment firm Mission Driven Finance of San Diego, California to assist with loan origination and servicing, as well as supporting underwriting. Mastercard’s Racial Justice Pro Bono Program–which is a part of Mastercard’s In Solidarity initiative to drive racial equity and create equal opportunities for all–consulted on the Fund model.
After LACI conducted US DOE-funded research validating the need for early stage lending for cleantech startups, the organization piloted the debt fund concept–capitalized by a Wells Fargo Foundation grant–by underwriting loans totalling more than $300,000 to nine startups. The pilot debt fund has had zero defaults and no late payments, and included loans to SparkCharge, Envoy, and others (see below for examples). LACI first shared their DOE-funded research and commitment to creating a national cleantech debt fund at the Clinton Foundation economic conference in November 2019.
The LACI Cleantech Debt Fund joins the LACI Impact Fund I and non-dilutive pilot funds as capital for which LACI incubated startups are eligible to apply. After nine quarters of investing, the $5 million LACI Impact Fund I is nearly 100% deployed and has made equity investments in 15 LACI startups. The LACI Impact Fund empowers LACI founders to grow their early-stage cleantech companies, including ChargerHelp! CEO Kameale Terry which has gone on to build a nationwide network responsible for maintaining 30,000 EV charging stations while ensuring their technicians earn a minimum of $30 per hour with a guaranteed 40-hour work week. LACI is now out to market in raising LACI Impact Fund II.
Sample LACI Pilot Cleantech Debt Fund Recipients
Initial LACI’s pilot debt fund loans to startups include:
About LACI
The Los Angeles Cleantech Incubator (LACI) is creating an inclusive green economy by unlocking innovation through helping scale cleantech startups, transforming markets through catalytic partnerships like the Transportation Electrification Partnership, and working with policymakers, innovators, and market leaders in transportation, energy, and sustainable cities, and enhancing communities through workforce development training, pilots, and other green jobs programs. Founded as an economic development initiative by the City of Los Angeles and Los Angeles Department of Water & Power (LADWP), LACI is recognized as one of the most innovative business incubators in the world by UBI. In the past ten years, LACI has helped 340 portfolio companies raise $697 million in funding and create 2,565 jobs in the Los Angeles region, with a projected
About Sobrato Philanthropies
Sobrato Philanthropies’ investment in LACI’s Cleantech Debt Fund was committed by John A. Sobrato. Sobrato Philanthropies’ mission is to partner with communities to meet immediate needs, address systemic barriers, and pursue social justice to build a more equitable and sustainable world. Guided by the business philosophy and personal values of the Sobrato family, three generations engage in grantmaking, advocacy, impact investing, and collaborative efforts to create impact locally and around the world.
About Homecoming Capital
Homecoming Capital is a climate-focused investment firm that invests in businesses that decarbonize the economy as they grow. Homecoming’s investments span North America and Europe and support businesses driving decarbonization of the energy, transportation, industrial, and agricultural sectors. For more information, please visit www.homecomingcapital.com.
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Financing from CarVal Investors targets more than 500 megawatts expansion as U.S. works toward renewable energy goals
WAKEFIELD, Mass.--(BUSINESS WIRE)--Agilitas Energy, the largest integrated developer, builder, owner and operator of distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S., today announced it has raised $350 million of equity in a two-tiered investment from funds managed by CarVal Investors L.P. The investment will fund a national footprint build-out of Agilitas Energy’s large pipeline of renewable energy and battery storage systems. The investment amount may be further upsized to $650 million upon the completion of certain projects. Funds managed by CarVal have assumed a minority position in Agilitas Energy and the companies have established a joint venture to own and operate the energy assets.
Broad-scale adoption of renewable energy and battery storage is a mandate for transitioning from reliance on fossil fuels to clean energy. CarVal’s investment will accelerate Agilitas Energy’s development, construction and operation of more than 500 megawatts (MW) of distributed and utility-scale energy storage and solar PV projects that will help on the path toward America’s net zero greenhouse gas emissions goal. Agilitas Energy will leverage its expertise and experience to expand nationally by constructing its existing project pipeline while actively acquiring and developing projects from across the country.
“To effectively transition our energy systems away from fossil fuels, we need to rapidly increase the number of renewable energy and storage projects that are successfully interconnected to the grid,” said Barrett Bilotta, President of Agilitas Energy. “With our experienced management team, existing project pipeline and organizational expertise combined with the support of CarVal, we’re well positioned to expand nationally and help make a dent in our country’s decarbonization goals. CarVal adds significant value beyond their capital. They are smart business athletes with real-world energy and business acumen who will be true partners as we execute our growth plan.”
Energy storage coupled with renewable energy systems makes renewable energy persistent and cost effective as a viable replacement of fossil fuels. According to the Energy Storage Association, “Energy storage fundamentally improves the way we generate, deliver and consume electricity…But the game-changing nature of energy storage is its ability to balance power supply and demand instantaneously – within milliseconds – which makes power networks more resilient, efficient and cleaner than ever before.” The predictable, low-cost, clean energy Agilitas Energy provides will aid off-takers, utilities and municipalities in their energy transition.
“We selected Agilitas Energy as our platform investment partner because they have uncommon expertise and a track record in all facets of the business – from development to engineering, through construction and operations,” said Jerry Keefe, Principal, CarVal Investors. “Agilitas Energy is an early leader in solar and energy storage and one of the few companies successfully operating live energy storage systems at scale.”
Agilitas Energy’s core competencies include project origination, development, project engineering, debt and tax equity financing, engineering procurement and construction (EPC) and asset management – including energy storage revenue optimization. The company has developed a proprietary bidding and forecasting model called, Intelligent Power Dispatch, that helps optimize revenue by predicting market conditions in day-ahead and real-time energy markets.
Moving forward, Agilitas Energy will be focused on developing projects that will be owned by the new joint venture and managed by Agilitas Energy’s asset management group. Within the first 90 days, the joint venture expects to acquire eight projects totaling 45 MW developed by Agilitas Energy, including:
Agilitas Energy is currently hiring for roles across the major functional groups of the company with a particular focus on adding to the development team. To learn more, please visit https://agilitasenergy.com/contact/.
About Agilitas Energy
Agilitas Energy is a leading renewables and energy storage company with a mission to accelerate the transition to clean energy. As the largest integrated developer, builder, owner and operator of distributed energy storage and solar PV systems in the northeastern U.S., Agilitas Energy manages the entire end-to-end lifecycle of the projects that deliver predictable, low-cost, clean energy for off-takers, utilities and municipalities. The company has a U.S. pipeline of more than 500 MW of solar PV and energy storage projects. To learn more, please visit: https://agilitasenergy.com/.
About CarVal Investors
CarVal Investors is an established global alternative investment manager focused on distressed and credit-intensive assets and market inefficiencies. Since 1987, CarVal’s team has navigated through ever-changing credit market cycles, opportunistically investing $135 billion in 5,630 transactions across 82 countries. Today, CarVal Investors has approximately $14 billion in assets under management in corporate securities, loan portfolios, structured credit and hard assets. CarVal has invested more than $2.5 billion in clean energy investments since 2017. For more information, please visit carvalinvestors.com.
Liam Sullivan on behalf of Agilitas Energy
V2 Communications
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2022 Promega Corporate Responsibility Report shows investments in solar arrays led to ten-fold increase in renewable energy usage in last three years
MADISON, Wis.--(BUSINESS WIRE)--#sustainability--Promega Corporation now draws over 20% of its global electricity from renewable sources. The 2022 Promega Corporate Responsibility Report, released today, details how the biotechnology company’s investments in solar arrays have led to a ten-fold increase in renewable energy usage in the last three years. The report also outlines how Promega continues to support its employees and local communities while developing technologies aimed at improving human life through scientific advancement.
Investing in Renewable Energy
Minimizing electricity usage at all Promega branch, distribution and manufacturing locations around the world is primary since the company has a goal to reduce carbon emissions by 50% as indexed to revenue by 2030. Electricity makes up nearly half of Promega emissions.
The company’s three largest solar arrays, all located on the main Madison, Wisconsin campus, generate over 2 million kWh annually. Promega also partnered last year with Madison Gas & Electric’s O’Brien Solar Fields project to supply Promega with renewable energy to power more than 10% of its annual electrical consumption. Additional Promega facilities around the world generate or purchase renewable energy, including branch offices in Brazil, France, Germany, Italy, Spain, Sweden, Switzerland and the United Kingdom.
Even with two significant new facilities coming online in the past year in Madison, and including the energy used by employees working remotely, Promega has reduced its electricity usage by 23% since 2019, as indexed to revenue. Recent investments to maximize energy efficiency include a central utility plant that reduces energy needed for chilled water and retrofits for LED lighting on the Promega campus.
“As a company with a 100-year vision, sustainable growth is our priority and our opportunity to integrate into our facilities and operations the environmental best practices from around the world that will better position Promega for the future,” says Corey Meek, Promega Corporate Responsibility Program Manager. “The outcomes we are achieving are significant and due to the efforts and passions of Promega employees around the globe.”
Prioritizing Science, Employees and Communities
In addition to reporting key sustainability metrics, the 2022 Promega Corporate Responsibility Report details the company’s initiatives and outcomes over the last year supporting scientific discovery, employee wellbeing, and global communities. Some highlights include:
Promega Corporate Responsibility
Promega has integrated corporate responsibility and sustainable business practices since its founding in 1978. For the last 14 years, the company’s annual Corporate Responsibility Report has documented how the global biotechnology manufacturer continues to align these practices with positive social, environmental and business outcomes.
Read the entire 2022 Corporate Responsibility Report PDF here. Explore the Promega Corporate Responsibility website at www.promega.com/responsibility
About Promega Corporation
Promega Corporation is a leader in providing innovative solutions and technical support to the life sciences industry. The company’s portfolio of over 4,000 products support a range of life science work across areas such as cell biology; DNA, RNA and protein analysis; drug development; human identification and molecular diagnostics. For over 40 years these tools and technologies have grown in their application and are used today by scientists and technicians in labs for academic and government research, forensics, pharmaceuticals, clinical diagnostics and agricultural and environmental testing. Promega is headquartered in Madison, WI, USA with branches in 16 countries and over 50 global distributors. For more information, visit www.promega.com and connect with Promega on Twitter, LinkedIn, Facebook, Instagram and the Promega Connections blog.
Penny Patterson
VP, Corporate Affairs
Promega Corporation
Phone: (608) 274-4330
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BOWLING GREEN, Ohio--(BUSINESS WIRE)--A-Gas, a world leader in environmentally responsible refrigerant management, announced their expansion in New Orleans, LA. This expansion marks the third expansion of refrigerant services this year.
“Being able to offer our Rapid Exchange® program in New Orleans and the surrounding areas means that we can assist HVACR contractors to optimize their businesses,” said Lyle Handeland, Senior Director, Service & Operations. “Because this program promotes the reclamation of refrigerant gases, which is much more environmentally friendly than contractors purchasing newly produced refrigerants, we’re making an impact in this vibrant community we serve – a community that has seen the negative impacts of climate change firsthand.”
As a modern refrigerant reclaimer, A-Gas is focused on environmental stewardship through the lifecycle management of refrigerant gases and contributing to the circular economy. Bradd Mennenga, Territory Account Lead, stated, “Every pound of gas A-Gas can recover and reclaim is one less pound of gas that needs to be produced from virgin materials. Our commitment to HVACR contractors enables them to grow their businesses with ease, all while securing the future supply of these critical gases and enabling a more sustainable future.”
A-Gas manages the full life cycle of refrigerants for its partners around the world and safely reclaims millions of pounds of material each year.
About A-Gas
A-Gas (U.S.), headquartered in Bowling Green, Ohio, is a trading subsidiary of A-Gas International (headquartered in Bristol, UK) and is the World’s largest refrigerant recovery and reclamation company. The company’s core business offers environmental solutions and lifecycle management services for ozone depleting substances and global warming agents including CFCs, HCFCs, HFCs, and Halons in the HVAC/Refrigeration and Fire Suppression Industries. For more information about A-Gas, please visit www.agas.com/us
Jaclyn Schilkey
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Climate Engagement Canada launches Focus List of corporate issuers to engage on climate risks and opportunities on the road to a net-zero future.
TORONTO--(BUSINESS WIRE)--Today, Climate Engagement Canada (CEC) announced the CEC Focus List—forty select TSX-listed companies that will be strategically engaged in a finance-led initiative for the alignment of expectations on climate risk governance, disclosure, and the transition to a low-carbon economy in Canada.
Over the next months, engagements with the boards and senior leaders of these organizations will commence in order to spur organizational change. Through constructive dialogue, the forty focus companies will be encouraged to:
CEC’s Focus List companies have been identified as the top reporting or estimated emitters on the Toronto Stock Exchange (TSX) and/or with a significant opportunity to contribute to the transition to a low-carbon future and become a sectoral and corporate climate action leader in Canada. These firms operate across the Canadian economy in the oil & gas, utilities, mining, agriculture & food, transportation, materials, industrials, and consumer discretionary sectors. An additional six Canadian companies (CNRL, Enbridge, Imperial Oil, Suncor, TC Energy, and Teck) are already being engaged under Climate Action 100+ (CA100+), a global initiative that served as an inspiration for CEC.
“Canada’s major investors want to support the corporate sector in the transitioning economy, and understand the power of a collaborative approach,” said Barbara Zvan, CEO of University Pension Plan and Chair of the CEC Steering Committee. “Partnering to constructively and consistently engage with top emitters is critical for the success of Canada’s transition to a low carbon economy and the long-term prosperity of Canadian communities as we move toward a net zero world.”
“There are no sidelines in the climate transition,” said Kevin Thomas, CEO of SHARE—an investor network which is coordinating corporate engagement and research for CEC. “No Canadian sector will be untouched by climate change, and they each have a role to play. We’ll be expecting ambitious climate action plans from every focus company, in every sector. Our participants are serious about this, and we expect the companies on our focus list to get serious as well. It’s time to move fast and fix things.”
“It is paramount that investors work together to align capital with sustainable and inclusive development in Canada,” said Patricia Fletcher, CEO of the RIA—Canada’s industry association for responsible investment that supports the CEC’s administrative and communication efforts. “We are steadily gaining momentum as investors join issuers under the CEC initiative and move forward in having meaningful conversations with identified emitters in Canada. We are on our way to establishing a uniquely Canadian blueprint for investor-led climate action.”
The CEC Focus List of Companies:
Oil & gas | Energy (25% of focus list companies): Cenovus Energy Inc.; Pembina Pipeline Corp.; Crescent Point Energy Corp.; MEG Energy Corp.; Keyera Corp.; Tourmaline Oil Corp.; Whitecap Resources Inc.; Vermilion Energy Inc.; Enerplus Corp.; and ARC Resources Ltd.
Utilities | Utilities (20% of focus list companies): Emera Inc.; TransAlta Corp.; Fortis Inc.; Capital Power Corp.; Atco Ltd.; Brookfield Infrastructure Partners; AltaGas Ltd.; and Superior Plus Corp.
Mining | Materials (20% of focus list companies): Nutrien Ltd.; Barrick Gold Corp.; First Quantum Minerals Ltd.; Kinross Gold Corp.; Lundin Mining Corp.; B2Gold Corp.; Turquoise Hill Resources Ltd.; and Hudbay Minerals.
Agriculture & food | Consumer Staples (12.5% of focus list companies): Alimentation Couche- Tard Inc.; Saputo Inc.; Loblaw Companies Ltd.; Empire Company Ltd.; and Metro Inc.
Transportation | Industrials (7.5% of focus list companies): Air Canada; Canadian National Railway Co.; and Canadian Pacific Railway Ltd.
Other | Industrials, Materials, and Consumer Discretionary (15% of focus list companies): GFL Environmental Inc.; Waste Connections Inc.; Methanex Corp.; Stelco Holdings Inc.; West Fraser Timber Co Ltd.; and Magna International Inc.
More Information:
CEC was formally launched in October 2021 as the first Canadian, financial sector-led corporate engagement program to accelerate Canada’s transition to a low-carbon future. The program is coordinated by several investor networks including the Responsible Investment Association (RIA), Shareholder Association for Research and Education (SHARE), and Ceres. The UN-backed Principles for Responsible Investment (PRI) is also supporting the CEC. The RIA and SHARE serve as the Joint Secretariat, and the Initiative has leveraged strategic leadership from Barbara Zvan, who served as a member of Canada’s Expert Panel on Sustainable Finance and currently chairs the CEC Steering Committee.
Inspired by the Panel and its recommendation to establish a national engagement program, akin to the CA100+ initiative, CEC was developed to support a broader and more consistent dialogue between investors and Canadian issuers around climate risks and opportunities.
Climate Engagement Canada
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent"), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce its contribution to the new world record for the longest distance ever covered by a hydrogen vehicle without refueling and an electric vehicle without recharging. The record was broken within the framework of an innovative project conducted by ARM Engineering, a French based research and development firm focused on providing innovative and sustainable solutions for the mobility market.
ARM Engineering recently developed renewable synthetic methanol called G-H3, which has, among other features, the ability to power both thermal and electric vehicles, with the latter being powered by a fuel cell. Choosing Advent's methanol-based H3 5000 fuel cell unit as the power source for the electric Renault Zoe, ARM Engineering and its team of highly experienced drivers managed to cover a total of 2,055.68 km (1277.34 mi) over 40 hours while driving at approximately 50 km/h (31 mph), setting the new world records for the longest distance for a hydrogen-powered or an electric vehicle on a single charge or fueling.
The project took place at the Albi circuit in France over the course of three days. As part of the demonstration, five drivers from ARM Engineering drove the modified Renault Zoe non-stop from early morning until midnight, surpassing the previously achieved world record of 1,360 km (845 mi)—proving the reliability and efficiency of hydrogen-powered vehicles.
The H3 5000 fuel cell unit offers key advantages such as a long operating lifetime, low service and maintenance fees, robust functionality, and attractive total cost of ownership.
Dr. Emory De Castro, Advent's Chief Technology Officer, stated, "we are proud to participate in this unique project, and we would like to congratulate ARM Engineering for its well-deserved achievement. This new world record represents a great example of how fuel cells can produce clean and uninterrupted power while replacing the need for conventional fuels. Undeniably, the global hydrogen-powered fuel cell vehicle industry is accelerating at an unprecedented rate, and we at Advent Technologies very much look forward to continuing to be key enablers of this transition."
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Michael Trontzos / Chris Kaskavelis
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DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Nuclear Magnetic Resonance Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The oil and gas nuclear magnetic resonance (NMR) market is expected to grow at CAGR of more than 5% during the forecast period of 2020-2025.
Key Market Trends
Onshore Sector to Dominate the Demand
North America to Dominate the Market
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Location of Deployment
5.1.1 Offshore
5.1.2 Onshore
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Middle-East and Africa
5.2.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Halliburton Company
6.3.2 Weatherford International plc
6.3.3 Vista Clara Inc
6.3.4 Baker Hughes Company
6.3.5 Qteq Pty Ltd
6.3.6 Mount Sopris Instruments Inc.
6.3.7 Schlumberger Limited
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ssuwpm
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ROCKVILLE, Md.--(BUSINESS WIRE)--Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) announces that its wholly owned subsidiary, Atlantic Projects Company (“APC”), has entered into engineering and construction services contracts with the Electricity Supply Board (“ESB”) to construct three 65 MW aero-derivative gas turbine flexible generation power plants in and around Dublin, Ireland. Two of the power plants, Poolbeg and Ringsend FlexGen Power Plants, will be located on the Poolbeg Peninsula, and the Corduff FlexGen Power Plant is to be built in Goddamendy, Dublin. All three projects cleared the SEM 2024/2025 T-3 Capacity auction earlier this year and are expected to operate intermittently during peak periods of electricity demand and as back-up supply options when renewable electricity generation is limited. A full notice to proceed has been received and project activities are now due to commence.
“These are major investments by ESB and they will play a key role in maintaining the long-term stability of the electricity system in Ireland as well as facilitating increasing levels of intermittent renewables in line with ESB’s Net Zero by 2040 strategy. We are delighted to work with ESB, a long-term customer of ours, to provide engineering and construction services for these strategic projects and we look forward to successful delivery of the three power plants,” said Billy Nolan, Managing Director, Atlantic Projects Company.
Argan will add the value of these contracts to its project backlog immediately.
About Argan, Inc.
Argan’s primary business is providing a full range of services to the power industry including the renewable energy sector. Argan’s service offerings focus primarily on the engineering, procurement and construction of natural gas-fired power plants, along with related commissioning, operations management, maintenance, project development and consulting services, through its Gemma Power Systems and Atlantic Projects Company operations. Argan also owns SMC Infrastructure Solutions, which provides telecommunications infrastructure services, and The Roberts Company, which is a fully integrated fabrication, construction and industrial plant services company.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties including, but not limited to, the Company’s successful addition of new contracts to project backlog, the Company’s receipt of corresponding notices to proceed with contract activities and the Company’s ability to successfully complete the projects that it obtains. The Company has entered into several EPC contracts that have not started and may not start as planned due to market and other circumstances out of the Company’s control. Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in Argan’s filings with the SEC. In addition, reference is hereby made to cautionary statements with respect to risk factors set forth in the Company’s most recent reports on Forms 10-K and 10-Q, and in other SEC filings.
Company:
Rainer Bosselmann
301.315.0027
Investor Relations:
David Watson
301.315.0027
HOUSTON--(BUSINESS WIRE)--Orion Engineered Carbons (NYSE: OEC), a specialty chemical company, will host its 2022 Investor Day today in New York. CEO, Corning Painter, and other members of the executive team will provide an in-depth review of the company's growth strategy and financial targets. The live event will begin at 1:00 p.m. EDT and will be webcasted to the public.
“We are at an inflection point in our history as a public company and are well positioned to thrive as we leverage our leadership in innovation, sustainable solutions and growth investments. These drivers should result in substantial increases in cash flow and shareholder value,” Painter said.
Key themes at the event:
To listen to the live webcast, please visit the Orion’s investor site at https://orion-engineered-carbons-investor-day.open-exchange.net/registration. A replay of the webcast will be available on the website following the event.
About Orion Engineered Carbons
Orion Engineered Carbons (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers’ exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability, and add UV protection. Orion has innovation centers on three continents and 14 plants worldwide, offering the most diverse variety of production processes in the industry. The company’s corporate lineage goes back more than 160 years to Germany, where it operates the world’s longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers’ needs to deliver sustainable solutions. For more information, please visit orioncarbons.com.
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements of future expectations that are based on current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in these statements. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. New risk factors and uncertainties emerge from time to time, and it is not possible to predict all risk factors and uncertainties, nor can we assess the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events, or other information, other than as required by applicable law.
Wendy Wilson
Orion Engineered Carbons
Head of Investor Relations
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William Foreman
Orion Engineered Carbons
Director of Corporate Communications and Government Affairs
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KENNESAW, Ga. & STERLING HEIGHTS, Mich.--(BUSINESS WIRE)--Freedom Electronics (“Freedom”), a portfolio company of Summit Park, is pleased to announce the acquisition of ESCO Services, Inc. (“ESCO Michigan”) and ESCO Manufacturing, LLC (“ESCO Florida”) (collectively “ESCO” or “the Company”), a provider of aftermarket refurbished electronic parts with locations in Michigan, Colorado, and Florida.
Founded in 1979, ESCO provides aftermarket refurbished electronic parts to distributors and service technicians, primarily serving the retail fueling and petroleum end markets. ESCO’s broad product offering, national presence, and excellent customer service have established ESCO as one of the premier providers of aftermarket electronic parts in the United States.
Freedom, headquartered in Kennesaw, Georgia, is a leading aftermarket provider of electronic components, such as printers, screens, and card readers, for use in convenience stores and fueling stations (“c-stores”) across the U.S. and Canada. The combination of Freedom and ESCO creates the largest supplier of new and remanufactured aftermarket parts in the retail petroleum industry.
Patrick Jeitler, CEO of Freedom, said, “ESCO is a very well-respected company with a long history. Both companies share the same values of providing outstanding customer service and a high level of urgency to our customers. We are confident that the combination will allow us to expand our relationships with many customers while allowing us to serve a much larger portion of their needs.”
Mike York, a Partner at Summit Park, added, “Freedom and ESCO are an exciting combination because it establishes a national platform with leading technical capabilities, expanded sourcing relationships, and a diversified product portfolio driving a better customer experience. We continue to be bullish on the aftermarket in the retail petroleum space and think adding ESCO to Freedom positions the business very well going forward.”
Summit Park, a lower middle market private equity firm, invested in Freedom in December 2018. ESCO is Freedom’s first acquisition.
About Freedom Electronics
Freedom offers over 2,300 electronic components used in fuel dispensers, retail point-of-sale systems, and automatic tank gauges. Through the Company’s best-in-class repair procedures, sourcing capabilities, and engineering expertise, Freedom is the most trusted partner to a national customer base, including retailers, parts distributors, and equipment service companies seeking quality, cost competitive electronic parts. In addition to its parts remanufacturing business, Freedom also provides a logistics and warehousing solution for customers’ electronic components inventory that minimizes downtime and ensures customers always have parts in stock. For more information, visit www.freedomelectronics.com.
About Summit Park
Summit Park is a Charlotte, North Carolina-based private investment firm focused exclusively on the lower middle market. The firm invests across a range of industries, including services, consumer, and industrial growth. The firm’s capital can be used to facilitate a change in ownership, to support expansion and growth, to provide partial liquidity to existing owners, or to support an industry consolidation plan. Currently, the firm is investing Summit Park III, a $245 million fund that closed in 2018. For more information, visit www.summitparkllc.com.
Neale Butler
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BUFFALO, N.Y.--(BUSINESS WIRE)--Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets, today announced that Chairman and Chief Executive Officer Bill Bosway and Chief Financial Officer Tim Murphy are scheduled to present at the Bank of America Clean Energy Conference 2022 on Monday, June 13, 2022 and hold meetings with investors that day.
A link to the Company’s presentation will be available by visiting Gibraltar’s website at https://ir.gibraltar1.com/reports-presentations.
About Gibraltar
Gibraltar is a leading manufacturer and provider of products and services for the renewable energy, residential, agtech, and infrastructure markets. Gibraltar’s mission, to make life better for people and the planet, is fueled by advancing the disciplines of engineering, science, and technology. Gibraltar is innovating to reshape critical markets in comfortable living, sustainable power, and productive growing throughout North America. For more please visit www.gibraltar1.com.
LHA Investor Relations
Jody Burfening/Carolyn Capaccio
(212) 838-3777
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As part of its Sustainability program, the global logistics company, operating through the CHEP brand, accelerates its decarbonization strategy toward pioneering regenerative supply chains
ATLANTA--(BUSINESS WIRE)--Brambles, CHEP’s parent company, announced its commitment to achieving net-zero greenhouse gas (GHG) emissions by 2040. The company’s pledge to a 1.5°C climate future was an essential driving force behind its five-year sustainability targets published in 2020. By pledging to align with the goals of the Paris Climate Agreement, Brambles was already committed to achieving net-zero greenhouse gas (GHG) emissions by no later than 2050. With this new roadmap to net-zero emissions, the supply chain solutions company is bringing its deadline forward by 10 years.
“Global warming is one of the greatest challenges of our time and we need stronger action now. Brambles has a track record of reducing emissions through its circular business model, a range of innovative initiatives and its past achievements1. These targets are an important next step in a journey that we started years ago.”
“Adopting science-based targets and bringing the net-zero deadline forward by ten years accelerates our mission to build a regenerative supply chain,” said Juan José Freijo, Brambles’ Chief Sustainability Officer. “By delivering on our net-zero ambition and beyond, we will continue to be a sustainability global leader building the supply chains the world needs for the future.”
Brambles’ new ambitious commitments are built on a solid decarbonization roadmap, with two main milestones:
1. 2030 mid-term reduction targets recently approved by the Science Based Target Initiative (SBTi)2, which include:
− 42% reduction in absolute Scope 1 and 2 GHG emissions on 2020 levels. Scope 1 and 2 are the emissions generated from the consumption of fuels and purchased grid electricity in its own operations;
− 17% reduction in absolute Scope 3 GHG emissions on 2020 levels. This includes value chain emissions from purchased capital goods, upstream and downstream transportation and distribution, waste generated in operations and outsourced service centers, representing over 90% of Scope 3 emissions; and
2. A 2040 long-term net-zero GHG emissions target by 2040, which has been set to complement the medium-term science-based targets. The target will encompass 100% of the company’s Scope 1, 2 and relevant 3 emissions3.
A solid roadmap towards decarbonization
To manage this challenge effectively, Brambles created a dedicated decarbonization function integrated within the supply chain organization. Working with internal and external stakeholders across multifunctional initiatives, the team has created an actionable roadmap with targets to ensure this corporate, strategic vision becomes a reality across five continents and 60 countries.
“Our roadmap to net-zero emissions by 2040, collaboratively developed with all our regions and constructed firmly around approved SBTis, will provide our business with longer-term strategic direction and will help retain our leadership position in sustainability,” explained Marisa Sánchez Urrea, Brambles’ Global Supply Chain Decarbonization Director.
“We have identified the decarbonization levers at our disposal, but also the key enablers that will allow us to achieve our targets, in particular having a supportive policy environment as well as zero emissions transport technologies and infrastructure. This, together with a clear internal action plan to embed carbon considerations into our decision-making, will ensure we accelerate our transition to a net-zero emissions business model.”
Brambles will focus on three main development areas to achieve the net-zero target: operations (directly owned and subcontracted), logistics and direct procurement. Some of the key levers for these areas include:
For more information about Brambles’ decarbonization strategy, please click here: https://brambles.com/net-zero-roadmap.
About Brambles Limited (ASX:BXB)
Brambles helps move more goods to more people, in more places than any other organization on earth. Its pallets and containers form the invisible backbone of the global supply chain and the world’s biggest brands trust us to help them transport their goods more efficiently, sustainably and safely. As pioneers of the sharing economy, Brambles created one of the world's most sustainable logistics businesses through the share and reuse of its platforms under a model known as ‘pooling’. Brambles primarily serves the fast-moving consumer goods (e.g. dry food, grocery, and health and personal care), fresh produce, beverage, retail and general manufacturing industries. The Group employs approximately 12,000 people and owns approximately 345 million pallets and containers through a network of more than 750 service centres. Brambles operates in approximately 60 countries with its largest operations in North America and Western Europe. For further information, please visit brambles.com
1 Brambles’ 2025 Climate Positive targets also included a commitment to 100% renewable electricity and carbon neutrality across its own operations by 2025, both of which were achieved in 2021, four years ahead of the target date.
2 The SBTi is a partnership between CDP, the United Nations Global Compact (UNGC), the World Resources Institute (WRI) and WWF. The SBTi leads the development of best practice target setting methodologies and tools, provides companies with independent assessment and validation of targets, and recognizes companies’ commitments to science-based targets on their website.
3 Relevant Scope 3 emissions categories include purchased goods and services, capital goods, fuel and energy-related activities, upstream transportation and distribution, waste generated in operations, business travel, employee commuting, downstream transportation and distribution, and processing of sold products.
4 Insetting is generally used to describe carbon projects that avoid, reduce or sequester emissions upstream or downstream within the company’s own value chain.
Investors:
Raluca Chiriacescu
Vice President, Investor Relations
+44 7810 658 044
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Media:
Sarah Pellegrini
Chief Communications Officer
+61 429 819 005
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Víctor Collado
Director, Corporate Communications, EMEA
+34 659 691 864
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Expanded Series A funding enables new strategic partnerships
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Quaise Energy, Inc. (“Quaise Energy” or the “Company”), the company unlocking terawatt-scale geothermal, announced today that it expanded its Series A financing round from $40M to $52M. The $12M incremental round was led by TechEnergy Ventures, the Corporate Venture Capital group within the Energy Transition Division of Tecpetrol, which is a part of the Techint Group. HostPlus, Prelude Ventures, Safar Partners and Xplorer Capital also participated in this financing.
“Our new sponsors are sophisticated investors that recognize Quaise Energy’s potential to accelerate the clean-energy transition and open access to renewable baseload power from anywhere on Earth,” said Quaise Energy Co-Founder and Chief Executive Officer Carlos Araque. ”We will use the additional investment to expand our technology development roadmap and form foundational strategic partnerships that further scale our business.”
Geothermal is the only renewable, clean source of energy capable of providing baseload power at the scale required for a global energy transition. Quaise Energy plans to unlock deep geothermal by developing and using millimeter wave drilling systems capable of reaching depths between 10-20 km. At these depths, geothermal energy is power-dense, virtually unlimited, and available everywhere on the planet.
“We believe that UltraDeep Geothermal has the potential to dramatically improve the probability of reaching challenging net zero targets,” said Alejandro Solé, Chief Investment Officer at TechEnergy Ventures. “The success of Quaise Energy’s millimeter wave technology in overcoming traditional obstacles to superhot, super-deep drilling will enable clean, continuous and affordable energy everywhere.”
Carlos Araque added, “There is no energy transition without deep geothermal. Deep geothermal offers an always-on, inexhaustible energy source without fuels, without waste and without geographical limitations. It is also the most powerful, reliable and abundant primary clean-energy source on Earth.”
Quaise Energy will build field-deployable machines to demonstrate the capabilities of its novel drilling technology under real geological and operational conditions and then go on to repower traditional fossil-fired power plants with clean geothermal steam by the end of the decade.
Quaise Energy spun out of the MIT Plasma Science and Fusion Center in 2018. The Company has raised $75M to date.
To learn more about Quaise Energy, please visit: www.quaise.energy.
ABOUT QUAISE ENERGY
Quaise Energy is terawatt-scale geothermal. We’re opening access to renewable, baseload power from anywhere on planet Earth. Deep geothermal uses less than 1% of the land and materials of other renewables, making it the only option for a sustainable clean energy transition.
Our approach to deep geothermal is unique in being geography agnostic: by outfitting existing drilling rigs with millimeter wave technology, we’re opening the way for power-dense, deep geothermal energy on a global scale. The path to terawatt-scale clean energy doesn’t require building global infrastructure. Quaise Energy is accelerating the clean-energy transition by repowering the fossil-fired infrastructure of today’s energy industry with clean geothermal steam.
Learn more at www.quaise.energy.
About TechEnergy Ventures
TechEnergy Ventures is the Corporate Venture Capital group within the Energy Transition Division of Tecpetrol, which is part of the Techint Group. We invest globally in early-stage to growth-stage technology companies and support our investments with critical scale-up capabilities. To learn more, please visit: www.techenergyventures.com.
Tony Fassi
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Walmart to demonstrate 15-liter natural gas engine developed by Cummins
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), today announced definitive agreements to supply fuel linked to renewable natural gas for a Walmart Inc. (NYSE: WMT) demonstration of Cummins Inc.’s (NYSE: CMI) new 15-liter natural gas engine for heavy-duty trucks.
As part of the agreements, Walmart will provide heavy-duty trucks for Cummins to integrate with the new 15-liter natural gas engine, the X15N™, which runs on compressed natural gas (CNG). After taking delivery, Walmart will field-test the finished trucks at its distribution center in Fontana, California, with Chevron supplying the trucks with CNG linked to renewable natural gas.
Renewable natural gas is produced when biomethane from decomposing organic matter – such as cow manure or landfill waste – is captured, treated and placed into the natural gas network. Uncaptured methane is more than 25 times as potent as carbon dioxide at trapping heat in the atmosphere. Chevron has partnerships with Brightmark LLC and California Bioenergy LLC to produce renewable natural gas from dairy farms, which under California’s Low Carbon Fuel Standard can qualify as carbon negative on a lifecycle basis. Chevron will be responsible for linking the renewable natural gas to the CNG dispensed by Walmart into its natural gas trucks.
“Chevron has positioned itself to help major fleet operators like Walmart in their efforts to decarbonize their transportation operations through the use of CNG linked to renewable natural gas,” said Andy Walz, president of Americas Fuels & Lubricants for Chevron. “As we continue to rapidly grow our renewable natural gas business, we aim to leverage the power of our partnerships to the benefit of new and existing customers who seek lower carbon transportation solutions.”
“Walmart’s collaboration with Chevron and Cummins on the new Cummins 15-liter natural gas engine is one of many technologies we are testing to reach zero emissions in our fleet, part of our broader goal to achieve zero emissions in our operations by 2040,” said Luke McCollum, vice president of Supply Chain Sustainability at Walmart. “Testing CNG linked to renewable natural gas marks a significant stepping stone for Walmart’s path to zero emissions transportation.”
In September 2021, Chevron and Cummins expanded their memorandum of understanding to include new strategic priorities relating to renewable natural gas, with an initial focus on making the transition to natural gas engines easier for fleets by improving fuel availability while allowing them to lower the lifecycle carbon intensity of their operations.
“Cummins is excited to work with Walmart and Chevron on heavy-duty natural gas trucks and fuel availability,” said Puneet Jhawar, general manager, Natural Gas at Cummins. “The Cummins X15N natural gas powertrain allows for fleets to significantly reduce their emissions footprint starting almost immediately on a large scale with competitive equipment costs, while providing the power, range, and performance characteristics customers expect from Cummins.”
About Chevron
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and seeking to grow lower carbon businesses along with our traditional business lines. More information about Chevron is available at www.chevron.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This news release contains forward-looking statements relating to Chevron’s operations and energy transition plans that are based on management's current expectations, estimates and projections about the petroleum, chemicals and other energy-related industries. Words or phrases such as “anticipates,” “expects,” “intends,” “plans,” “targets,” “advances,” “commits,” “drives,” “aims,” “forecasts,” “projects,” “believes,” “approaches,” “seeks,” “schedules,” “estimates,” “positions,” “pursues,” “may,” “can,” “could,” “should,” “will,” “budgets,” “outlook,” “trends,” “guidance,” “focus,” “on track,” “goals,” “objectives,” “strategies,” “opportunities,” “poised,” “potential,” “ambitions,” “aspires” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond the company’s control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, Chevron undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changing crude oil and natural gas prices and demand for the company’s products, and production curtailments due to market conditions; crude oil production quotas or other actions that might be imposed by the Organization of Petroleum Exporting Countries and other producing countries; technological advancements; changes to government policies in the countries in which the company operates; public health crises, such as pandemics (including coronavirus (COVID-19)) and epidemics, and any related government policies and actions; disruptions in the company’s global supply chain, including supply chain constraints and escalation of the cost of goods and services; changing economic, regulatory and political environments in the various countries in which the company operates; general domestic and international economic and political conditions, including the military conflict between Russia and Ukraine and the global response to such conflict; changing refining, marketing and chemicals margins; actions of competitors or regulators; timing of exploration expenses; timing of crude oil liftings; the competitiveness of alternate-energy sources or product substitutes; development of large carbon capture and offset markets; the results of operations and financial condition of the company’s suppliers, vendors, partners and equity affiliates, particularly during the COVID-19 pandemic; the inability or failure of the company’s joint-venture partners to fund their share of operations and development activities; the potential failure to achieve expected net production from existing and future crude oil and natural gas development projects; potential delays in the development, construction or start-up of planned projects; the potential disruption or interruption of the company’s operations due to war, accidents, political events, civil unrest, severe weather, cyber threats, terrorist acts, or other natural or human causes beyond the company’s control; the potential liability for remedial actions or assessments under existing or future environmental regulations and litigation; significant operational, investment or product changes undertaken or required by existing or future environmental statutes and regulations, including international agreements and national or regional legislation and regulatory measures to limit or reduce greenhouse gas emissions; the potential liability resulting from pending or future litigation; the company’s future acquisitions or dispositions of assets or shares or the delay or failure of such transactions to close based on required closing conditions; the potential for gains and losses from asset dispositions or impairments; government mandated sales, divestitures, recapitalizations, taxes and tax audits, tariffs, sanctions, changes in fiscal terms or restrictions on scope of company operations; foreign currency movements compared with the U.S. dollar; material reductions in corporate liquidity and access to debt markets; the receipt of required Board authorizations to implement capital allocation strategies, including future stock repurchase programs and dividend payments; the effects of changed accounting rules under generally accepted accounting principles promulgated by rule-setting bodies; the company’s ability to identify and mitigate the risks and hazards inherent in operating in the global energy industry; and the factors set forth under the heading “Risk Factors” on pages 20 through 25 of the company’s 2021 Annual Report on Form 10-K and in subsequent filings with the U.S. Securities and Exchange Commission. Other unpredictable or unknown factors not discussed in this news release could also have material adverse effects on forward-looking statements.
Tyler Kruzich, Chevron External Affairs
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Capstone Is Focused on Growing the EaaS Business Model Because It Provides Higher Margins, More Constant and Predictable Revenue Streams
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #capstone--Capstone Green Energy Corporation’s (NASDAQ: CGRN) exclusive distributor for the Mid-Atlantic and Southeastern U.S. and the Caribbean, E-Finity Distributed Generation, has secured two new 36-month Energy-as-a-Service (EaaS) contracts with a cryptocurrency mining company looking to reduce its impact on the environment. This business expansion demonstrates progress on the Company’s vision to create smarter energy for a cleaner future and builds on its track record of saving its customers an estimated $698 million in annual energy savings, and reducing CO2 emissions by an estimated 1,115,100 tons of carbon, in the past three years alone.
The customer, which mines large volumes of cryptocurrency, approached E-Finity wanting to take advantage of existing on-site production waste gas that would otherwise go unused. Because Capstone microturbines are designed to offer fuel flexibility, the systems will use the waste gas, a benefit that not only reduces emissions but also offers operational savings. The Capstone microturbines generate electricity that is already substantially lower in emissions and cost than most grid power. Using energy that would otherwise be wasted brings even greater environmental and economic benefits to the project. Further, the added reliability and low maintenance requirements of microturbine-based systems make them ideal for remote locations, which can be hard to reach and often deal with challenging climate conditions.
“As an EaaS provider, Capstone Green Energy is focused on growing its energy asset management business, including our industry-leading Factory Protection Plan (FPP) service offering, as well as our long-term on-site energy system rental business,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “Our EaaS business provides a lower cost and carbon footprint for on-site energy systems in energy-intense businesses like hospitality, commercial, industrial, cannabis, and more recently, bitcoin mining,” added Mr. Jamison.
Capstone Green Energy is focused on growing the EaaS business model because it provides higher margins, more constant and predictable revenue streams, and allows for a more streamlined staffing model than a traditional industrial manufacturing company. As part of this growth strategy, Capstone management has reduced operating costs and modified the operating model, all while continuing to expand its new EaaS business.
“Our track record of successful operations in remote oil and gas locations across the Mid-Atlantic and the data center quality power generated by the microturbine-based systems was key to our customer’s decision to deploy the six megawatts of Capstone energy systems,” said Jeff Beiter, Managing Partner of E-Finity Distributed Generation. “When these two sites are operational this summer, we will have 13 MW of Capstone powered cryptocurrency customers on top of our traditional oil and gas and combined heat and power customers,” concluded Mr. Beiter.
About Capstone Green Energy
Capstone Green Energy (NASDAQ: CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Generation Technologies (EGT) are driven by the Company's industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Solutions (ESS) business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen & Sustainable Products (H2S), Capstone Green Energy offers customers a variety of hydrogen products, including the Company's microturbine energy systems.
For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: This email address is being protected from spambots. You need JavaScript enabled to view it.. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three full fiscal years are estimated to be approximately $698 million in energy savings and approximately 1,115,100 tons of carbon savings.
For more information about the Company, please visit www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on Twitter, LinkedIn, Instagram, Facebook, and YouTube.
Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company's growth strategy and other statements regarding the Company's expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as "expect," "anticipate," "believe," "could," "should," "estimate," "intend," "may," "will," "plan," "goal" and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company's indebtedness; the Company's ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company's ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company's future operating results, please see the Company's filings with the Securities and Exchange Commission, including the disclosures under "Risk Factors" in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.
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BOSTON--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced the modernization of its EcoStruxure IT software portfolio for the monitoring and management of sprawling, hybrid IT infrastructure, which has become increasingly complex in the last few years.
As IT infrastructure continues to spread, business continuity is dependent on everything from the smallest end point to the largest data center. Therefore, edge deployments are now considered as mission-critical as centralized data centers, and a new capability of software tools is required to maintain the resiliency and security of the infrastructure. Additionally, sustainability is emerging as another significant trend: the energy consumption and carbon footprint of a company’s data centers will need to be measured and managed. Based on internal Schneider Electric projections, by 2040, total data center energy consumption will be 2,700 TWh with 60% coming from distributed sites and 40% from data centers.
Legacy DCIM software wasn’t created with all of these concerns in mind, which is why Schneider Electric has invested in EcoStruxure IT. It modernizes the monitoring, management, planning, and modeling of IT physical infrastructure, with flexible deployment options that include on-prem and cloud-based solutions to support hybrid, distributed IT environments, from a few sites to thousands of sites globally.
“There’s been tremendous change since DCIM first emerged as a software category,” said Kevin Brown, SVP of EcoStruxure Solutions, Secure Power, Schneider Electric. “The hybrid IT environment is challenging even the most sophisticated CIO organization with maintaining the resiliency, security, and sustainability of their IT systems. We call this trend DCIM 3.0. Schneider Electric is investing in and evolving EcoStruxure IT to provide more capability, flexibility, and deployment options than ever before for enterprises and colocation facilities everywhere in the world.”
Addresses top industry trends of sustainability, security, and resiliency
EcoStruxure IT modernization comes at a time when 99% of large company CEOs agree that sustainability issues are important to the success of their businesses, security ranked #1 on the Allianz Risk Barometer, and 62% of IT outages can be attributed to infrastructure failures by cloud and colocation suppliers. As a complete software portfolio, EcoStruxure IT empowers customers to operate the most resilient, secure, and sustainable IT infrastructure, anywhere.
The vendor-neutral capabilities enabled by EcoStruxure IT deliver value through customer-driven applications, including:
“The IT infrastructure landscape is undergoing significant transformation as it evolves from individual data centers to distributed, hybrid IT, and it demands more than what we think of as ‘traditional DCIM’ to ensure it is resilient, secure, and sustainable,” said Industry Consultant David Cappuccio. “EcoStruxure IT is helping to simplify the complexity of sprawling IT architecture and modernize it for both current and future needs.”
EcoDataCenter’s climate-positive data center
Schneider Electric customer EcoDataCenter provides both colocation services and high-performance computing. Located in Falun, Sweden, EcoDataCenter operates with an emphasis on climate-positive solutions. When it was time to build a new data center designed to be EcoDataCenter’s greenest and most future-forward build yet, the company was in need of a partner with shared sustainability priorities and turned to Schneider Electric.
“With the knowledge and technology on Schneider’s end, and the ambition from ours, it’s a good match for an efficient and green facility,” said EcoDataCenter CTO Mikael Svanfeldt. “EcoStruxure is a platform that unifies our products to provide genuine insight on how our data center is operating.”
Specialized team of engineers performing EcoStruxure IT integrations globally
To maximize a customer’s experience with EcoStruxure IT, Schneider Electric has created a custom solutions team comprised of skilled engineers who perform custom integrations everywhere in the world. This one-of-a-kind team provides the necessary resources and capabilities to ensure a customer can deploy EcoStruxure IT successfully.
“This team embodies what Schneider Electric means when we say that we are the most local of global companies,” said Kevin Brown. “Team members speak 24 languages and represent 15 nationalities. They partner with customers in every part of the globe. We are there to make sure the customer is successful in the short term and the long term.”
EcoStruxure IT is available globally
Customers around the globe can try the software and the security assessment for free for 30 days by creating an EcoStruxure IT account. Visit EcoStruxureIT.com for individual offer availability or to create an account.
About EcoStruxure
EcoStruxure™ is our open, interoperable, IoT-enabled system architecture and platform. EcoStruxure delivers enhanced value around safety, reliability, efficiency, sustainability, and connectivity for our customers. EcoStruxure leverages advancements in IoT, mobility, sensing, cloud, analytics, and cybersecurity to deliver Innovation at Every Level. This includes Connected Products, Edge Control, and Apps, Analytics & Services which are supported by Customer Lifecycle Software. EcoStruxure™ has been deployed in almost 500,000 sites with the support of 20,000+ developers, 650,000 service providers and partners, 3,000 utilities and connects over 2 million assets under management.
From energy and sustainability consulting to optimizing the life cycle of your operational systems, we have world-wide services to meet your business needs. As a customer-centric organization, Schneider Electric is your trusted advisor to help increase asset reliability, improve total cost of ownership and drive your enterprise’s digital transformation towards sustainability, efficiency and safety.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
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WASHINGTON--(BUSINESS WIRE)--Yamaha Rightwaters™ recapped sustainability and conservation initiative progress from the past 12 months during 2022 Capitol Hill Oceans Week. From June 2021 through June 2022, Yamaha Rightwaters sponsored new carbon sequestration and plastics recycling programs in addition to projects that continue to support marine habitat restoration, managing the spread of invasive species and meaningful scientific research.
“Conservation is always the center of Yamaha Rightwaters initiatives and partnership development. We’re committed to protecting water – our most essential natural resource,” said Martin Peters, Division Manager, External Affairs, Yamaha U.S. Marine Business Unit. “We’re looking to ensure clean water and sustainable fisheries for future generations to enjoy, and we know carbon sequestration and the reduction of ocean acidification will continue to play a major role in the health of our waterways.”
Yamaha Rightwaters recently joined forces with Texas A&M University’s® Harte Research Institute and the Coastal Conservation Association (CCA®) to initiate a new conservation project designed to restore the degraded oyster beds of St. Charles Bay in the Gulf of Mexico. The ultimate goal of this study is to quantify the amount of carbon a living oyster can sequester. This data will allow Yamaha Rightwaters, CCA® and other conservation organizations to scale future oyster reef restoration projects and to sequester measurable, certifiable amounts of carbon, thereby combating ocean acidification while also creating essential fish habitats.
In June of 2021, Yamaha Rightwaters announced support for the Ducks Unlimited® Gulf Coast Initiative, which aims to restore more than 78,000 acres in coastal Louisiana and Texas. In addition to the habitat benefits for fish and wildlife, this project will also help filter nitrates from agricultural runoff while sequestering tons of carbon dioxide each year.
Yamaha Rightwaters also became a supporter of The Billion Oyster Project® in 2021, an organization dedicated to restoring oyster reefs to New York Harbor in collaboration with New York City communities. Activities include rearing oysters in four nurseries, planting oysters in suitable areas and using the project as a STEM teaching opportunity. To date, the organization has introduced 75 million oysters to the harbor with the participation of more than 6,000 students.
In an effort to reduce the amount of plastic in U.S. waterways, Yamaha Rightwaters launched a reverse logistics recycling program in August of 2021 to return the protective covers from select boat builders, retail dealers and its three boat production facilities. To date, the program is responsible for returning 17,911 pounds of Polyethylene and Polypropylene sheet plastics back into base materials. Contributing manufacturers include Contender® Boats, Regulator Marine, Xpress® Boats, Yamaha Jet Boat Manufacturing (YJBM), Skeeter®, G3® Boats, Valhalla Boats®, Grady-White® Boats and Sportsman® Boats.
With a focus on managing the spread of aquatic invasive species, Yamaha Rightwaters is working with the Theodore Roosevelt Conservation Partnership® and members of the $689 billion recreational industry to create a blue-ribbon commission, which will convene leading biologists, environmentalists, policy makers and resource managers to assess existing mitigation efforts and identify more effective eradication solutions. The commission will present findings to Congress and the administration in 2023 with the goal of passing comprehensive legislation to better manage aquatic invasive species.
In addition, Yamaha Rightwaters currently sponsors the Coastal Conservation Association®-Maryland (CCAMD) Aquatic Invasive Species Count, a part fishing tournament, part citizen-science project. The program documents the occurrence of snakehead, blue catfish and flathead catfish, all of which are invasive to Chesapeake Bay. These species negatively impact economically critical native species, such as blue crabs and striped bass, through predation and competition for food and habitat.
Yamaha Rightwaters also continues to support organizations including the NOAA® Channel Islands National Marine Sanctuary, Keep the Tennessee River Beautiful and Keep the Golden Isles Beautiful, Florida State University® Coastal Marine Laboratory, the Conch Republic Marine Army, the Potomac River Keepers and Wounded Nature-Working Veterans through efforts including clean up events, outboard-powered research vessels and continued conservation education.
Serving as the umbrella for all of Yamaha Marine’s sustainability projects, Yamaha Rightwaters officially launched on World Oceans Day® 2019 and marks its three-year anniversary this week. The initiative expanded overseas in 2021 when Yamaha Motor Australia became the first major sponsor of the “100 Smarter Cities for Cleaner Oceans” through its alliance with clean technology start-up Seabin®.
Yamaha U.S. Marine Business Unit, based in Kennesaw, Ga., markets and sells marine outboard motors ranging in size from 2.5 to 425 horsepower. It also markets and sells fiberglass, jet-drive sport boats ranging from 19 to 27 feet, and personal watercraft. The unit includes manufacturing divisions of Yamaha Marine Systems Co., Inc., including Kracor of Milwaukee (rotational molding), Bennett Marine of Deerfield Beach, Fla. (trim tabs), and Yamaha Marine Precision Propellers of Indianapolis (stainless steel propellers). Yamaha Marine Group is a division of Yamaha Motor Corporation, U.S.A., based in Cypress, Calif.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
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Energy Company Accelerates 2030 Targets on Renewable Energy Adoption, Clean Transportation Infrastructure, Building Electrification and More in Effort to Help Heal Our Planet
OAKLAND, Calif.--(BUSINESS WIRE)--Today, Pacific Gas and Electric Company (PG&E) unveiled breakthrough commitments to help reduce carbon emissions, reverse the impacts of climate change and heal the planet as part of its comprehensive Climate Strategy Report.
The report, which is available at www.pge.com/climate, outlines the company’s path to become “climate positive,” or going beyond net zero emissions and actively removing more greenhouse gases from the environment than it emits, by 2050.
Along the way, PG&E plans to reach net zero greenhouse gas emissions by 2040, five years ahead of California’s current carbon neutrality target, and has detailed clear milestones it plans to meet by 2030 in reducing emissions, adopting renewable energy, investing in clean transportation infrastructure and transitioning its natural gas system.
PG&E’s 2040 and 2050 commitments represent a major step in delivering upon its stand that a healthy environment and carbon-neutral energy system shall be the reality for all Californians.
These commitments are also designed to ensure equity and inclusion remain at the forefront of California’s energy transition by not only helping curb the devastating impacts of climate change felt by communities but also providing a pathway to a more equitable and affordable energy future.
PG&E is committed to partnering with a broad spectrum of stakeholders, including customers, coworkers and community organizations, to co-create plans that will help ensure equity, and to delivering on these climate commitments in a cost-effective way, with minimal incremental impact to customer bills.
“At first glance, meeting these milestones may look to be an extraordinary challenge. But extraordinary times call for extraordinary measures,” said Patti Poppe, CEO of PG&E Corporation. “As recent events have made clear, California is not just on the frontline for acting on climate change but also on the frontline of its destructive effects. We can no longer be content with merely adapting to those harms. We need to put the climate machine into reverse and begin undoing the damage. This report represents PG&E’s bold plan to do just that and will be our guiding document in the years ahead.”
2030: Immediate Climate Action
PG&E recognizes that right now is a critical time for meaningful climate change action and is committed to doing its part.
PG&E has laid out plans to dramatically reduce emissions attributable to the company and its customers by 2030—reductions from its operations and energy delivery (Scope 1, 2 and 3 emissions) equivalent to taking more than 3.2 million passenger vehicles off the road for one year. To drive this effort, the company has set targets that include:
2040 and 2050: Net Zero Emissions and Climate-Positive Energy Future
Building upon the 2030 goals, PG&E will work to achieve net zero greenhouse gas emissions by 2040 by eliminating or reducing emissions and then removing remaining carbon from the atmosphere. By 2050, the company plans to be removing more greenhouse gases than it emits.
As a dual commodity utility – both gas and electric – PG&E is uniquely positioned to lead this transition with customers at the center. PG&E’s vision is to evolve the gas system to be an affordable, safe, and reliable net zero energy delivery platform. To make the transition, PG&E expects a diverse mix of resources to be available—from broad electrification to cleaner fuels such as renewable natural gas and hydrogen to nature-based solutions and carbon capture, storage, and utilization.
“We’re excited about the opportunities to co-create this future together with our many stakeholders,” said Carla Peterman, PG&E’s Executive Vice President, Corporate Affairs and Chief Sustainability Officer. “Importantly, PG&E is focused on making this transition in an equitable and viable manner that leaves no one behind. We will continue to look for ways to prioritize support for disadvantaged and vulnerable communities and the workforce in a just transition to net zero and beyond.”
Continued Focus on Climate Resilience
In addition to establishing PG&E’s net zero and climate-positive targets and milestones, the Climate Strategy Report reiterates PG&E’s overall efforts to build an energy system that is resilient to the physical impacts of climate change. These efforts include data- and science-informed decision making, undergrounding 10,000 miles of powerlines in high fire-threat areas, and implementing Enhanced Powerline Safety Settings in those same areas. These efforts, which are also detailed in PG&E’s Wildfire Mitigation Plan, demonstrate PG&E’s commitment to live up to its stands that catastrophic wildfires shall stop and that everyone and everything is always safe.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and the Utility, including but not limited to PG&E’s Climate Strategy Report and climate-related commitments. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation and the Utility's joint annual report on Form 10-K for the year ended December 31, 2021, their most recent quarterly report on Form 10-Q for the quarter ended March 31, 2022, and other reports filed with the SEC, which are available on PG&E Corporation's website at www.pgecorp.com and on the SEC website at www.sec.gov. PG&E Corporation and PG&E undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.
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