A prestigious award for founder Don Stephens and blessing of the Global Mercy™ add to the launch of a packed training schedule designed to increase healthcare capacity in Africa
DAKAR, Senegal--(BUSINESS WIRE)--In the midst of celebrations around the arrival of the Global Mercy™ to Senegal, training has already begun by the crew of the world’s largest civilian hospital ship, currently docked in Dakar for its first African mission.
This month more than 260 Senegalese healthcare professionals will receive training on board this brand-new hospital ship, through a variety of courses, including surgical skills, SAFE anesthesia, nursing skills, and more. These first of many training sessions will address topics impacting delivery of safe surgical care.
During the week, Don Stephens, Founder of Mercy Ships received the Commander of the National Order of the Lion of Senegal. Veteran surgeon Dr. Gary Parker, Africa Mercy® Chief Medical Officer, received the Officer of the National Order of the Lion of Senegal at the Presidential Palace. The Order of the Lion is reserved for only the most distinguished civil or military service.
Ceremonies throughout the past week commemorated more than 30 years of service in Africa and were concluded with a special ceremony of naming and blessing for the Global Mercy, attended by key members of Mercy Ships, governmental dignitaries, and partners including WHO Africa, Johnson & Johnson, and Smile Train.
At the Ceremony of Blessing, Dr. Diop, Secretary General of Senegal, said “It’s my pleasure to be here on behalf of the President to help my country, (which is) facing huge surgical needs as you know. We are very honored and proud to host the Global Mercy for the first time in Africa. Access to surgery is very limited and expensive. On one hand, hospitals are not well equipped. On the other, our medical staff are not well trained. Mercy Ships comes as a gift.”
Gert van de Weerdhof, Mercy Ships Chief Executive Officer, stated, “This is a holy moment. After many years of planning, preparation, and partnership, the Global Mercy officially becomes part of the Mercy Ships fleet, doubling opportunities for safe and free surgery to take place, transforming lives not only of the patients but their families and communities.”
He went on to say, “We aim to provide approximately 5,000 training hours during this first visit of the Global Mercy, incorporating areas of the hospital we could never usually use for training in a field service, creating an impactful experience for our participants. We look forward to returning in 2023 to Dakar to continue our support and see surgical capacity strengthened.”
Last week H.E. President of Senegal Macky Sall inaugurated the world’s largest private floating hospital and committed to accelerate access to surgical, obstetric, and aesthetic care for the nations of Africa. Representatives from Cameroon, the Union of Comoros, Congo Brazzaville, The Gambia, Guinea-Bissau, and Senegal gathered on board the Global Mercy to approve a strategic road map to improve surgical care for African nations by 2030, where an estimated 93% of sub-Saharan Africa still lack access to safe surgery.
Global humanitarian organization Mercy Ships and its partners in Africa used this opportunity to come together in an unprecedented and strategic effort to improve access to safer surgery across the continent through a series of milestone events, including the agreement of the Dakar Declaration, a plan to accelerate access to surgical, obstetric, and anesthetic care across Africa, which H.E. President Macky Sall will now take forward to the rest of the African Union.
The new hospital ship, the Global Mercy™, is 174 meters long, 28.6 meters wide and has space for 200 patients, six operating rooms, a laboratory, general outpatient clinics, dental, and eye clinics. The hospital decks cover a total area of 7,000 square meters and contain the latest training facilities. When in full service, the ship will be able to accommodate up to 950 people when docked, including crewmembers and volunteers from all over the world and serve collaboratively with the Africa Mercy, in operation since 2007.
Over the next 50 years of the Global Mercy’s lifespan, it’s expected that more than 150,000 lives will be transformed through surgery alone, with each transformation representing a person with a name, a face, a story, a family, and a purpose. Thousands of African medical professionals will receive training and mentoring with the goal of multiplied impact within their own communities.
Following the four-week training period in Dakar, the ship will complete final equipping in the Canary Islands for the remainder of 2022 and plans to return to Dakar in 2023 for the crew’s first surgical field service. The Africa Mercy will remain in Senegal until the end of the year, continuing to provide surgeries and bringing hope and healing to many.
Recordings of the ceremonies include:
ABOUT MERCY SHIPS:
Global health for the last two decades has focused on individual diseases, while surgical care in low-resource countries has not received the attention it needs. Lack of surgical care resulted in almost 17 million deaths annually.
Mercy Ships is an international faith-based organization that operates hospital ships to deliver free, world-class healthcare services, medical capacity building, and health system strengthening to those with little access to safe surgical care. Since 1978, Mercy Ships has worked in more than 55 countries, with the last three decades focused entirely on partnering with African nations. Each year, volunteer professionals from over 60 countries serve on board the world’s two largest non-governmental hospital ships, the Africa Mercy® and the Global Mercy™. Professionals such as surgeons, dentists, nurses, health trainers, cooks, and engineers dedicate their time and skills to the cause. Mercy Ships has offices in 16 countries and an Africa Bureau. For more information, visit mercyships.org and follow us @MercyShips on social media.
Website: https://MercyShips.africa/press
B’roll and hi-res photos can be found at https://mercyships.africa/press/
U.S.
Laura Rebouche
U.S. National Media Relations Director
Telephone: 903-939-7137
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International
Diane Rickard
Mercy Ships International Media Relations Manager
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Company has raised approximately $400 million since late 2020 and deployed roughly $270 million to date
DALLAS--(BUSINESS WIRE)--Spicewood Mineral Partners (“Spicewood”), a leading Dallas based mineral and energy investment firm, today announced the final closing of Spicewood Mineral Partners, L.P. (the “Fund”) with $250 million of total capital commitments. The Fund was substantially oversubscribed and exceeded its target of $200 million. Spicewood attracted backing from a diverse group of limited partners in the U.S., including endowments, foundations, fund of funds, RIAs and family offices.
“We are thankful for the support and confidence of our partners in this first outside capital fund,” said John Golden, Partner and Co-Founder of Spicewood. “Our team continues to believe in the highly attractive risk return profile of U.S. mineral assets, including Spicewood’s differentiated investment strategy, focusing on the acquisition of core assets at a value basis.”
With the Fund complete, along with two additional co-investment vehicles, Spicewood has raised approximately $400 million since December of 2020. The company has already invested roughly $270 million of the capital.
Spicewood’s investment strategy focuses on an in-depth technical understanding of the asset base, opportunistically buying off-market producing and non-producing minerals in core areas of the preeminent U.S. basins.
About Spicewood
Spicewood Mineral Partners is a Dallas-based U.S. mineral and energy investment firm. We are an investment and technology-driven firm focused on the acquisition, aggregation, and management of mineral & royalty assets within the top-tier U.S. basins, where we have downside protection from low break-even drilling economics, deep inventory potential and highest quality resource potential. Spicewood utilizes its investment process, in-house technical expertise and industry relationships in an effort to provide attractive risk-adjusted returns to its investment partners. Spicewood’s mineral strategy is designed to provide current income for yield-focused investors. The Spicewood team is currently supported by nine investment and technical professionals with 100+ years of combined experience in the oil and gas industry.
For more information about Spicewood, please visit www.spicewoodpartners.com.
John Golden
Spicewood Mineral Partners
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IRVINE, Calif.--(BUSINESS WIRE)--On Monday, June 6, 2022, at 11:00am PT / 14:00pm ET, Rivian will host its first annual shareholder meeting. The virtual meeting will be available here. A recording will be made available on Rivian’s investor relations website.
About Rivian:
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships. Learn more about the company, products, and careers at rivian.com.
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– Demonstrates consistently superior solar credit quality relative to peers –
NEW YORK & CHARLOTTE, N.C.--(BUSINESS WIRE)--Sunlight Financial Holdings Inc. (“Sunlight Financial”, "Sunlight" or the “Company”) (NYSE: SUNL), a premier, technology-enabled point-of-sale financing company, today announced updated credit loss rates for solar loans originated by Sunlight Financial between 2018 and 2020.
Solar loans that Sunlight originated in 2018, 2019 and 2020 had an average loss rate of 1.61%, 1.24% and 0.39%, respectively, considerably outperforming loans of similar size and term financed by solar loan peers in the ABS markets during the same time periods. While Sunlight does not hold loans on its own balance sheet, it tracks the performance of loans originated through its proprietary point-of-sale platform Orange® in order to ensure high-quality credit performance for its capital providers.
"We are very proud of our continued best-in-class credit performance, as managing risk prudently and maintaining industry-leading credit quality has always been a core pillar of Sunlight’s success,” said Matt Potere, Chief Executive Officer at Sunlight. “Credit quality is a true differentiator, particularly in a rising rate environment, as meeting our capital partners’ return thresholds drives continued demand for Sunlight’s loans, enabling sufficient funding supply at attractive pricing for Sunlight’s contractor network.”
Sunlight’s Industry-Leading Credit Loss Rates
|
|
2018 Vintage |
|
2019 Vintage |
|
2020 Vintage |
|
|
|
|
|
|
|
Sunlight Financial |
|
1.61% |
|
1.24% |
|
0.39% |
|
|
|
|
|
|
|
Peer A |
|
3.35% |
|
1.60% |
|
0.80% |
Peer B |
|
3.02% |
|
2.15% |
|
-- |
Peer C |
|
-- |
|
3.30% |
|
0.84% |
Peer D |
|
-- |
|
1.60% |
|
0.65% |
|
|
|
|
|
|
|
Peer Average |
|
3.18% |
|
2.35% |
|
0.82% |
| Source: Kroll ABS performance reports, internal performance reports as of May 2022. 2018, 2019, and 2020 Vintages reflect loss rates at 36, 24, and 15 months, respectively. |
| Note: Reflects gross losses for 2018-2019 and net losses for 2020. Loss rates for peers with multiple ABS deals in a given vintage year reflect an average of all issuances. |
Credit Risk Management is a Core Pillar of Success
Superior credit risk management has always been at the heart of Sunlight’s business model. The Company’s management team has significant consumer credit experience across a wide variety of asset classes and multiple credit cycles, which drives a deep understanding of the importance of credit quality to maintain sufficient access to low-cost capital.
In March 2022, Sunlight announced the rollout of Credit 5.0, the latest iteration of the Company’s proprietary risk assessment methodology built into its point-of-sale platform. By performing a unique analysis of data gathered over the last seven years, Sunlight refined its determination of which credit factors best predict loan performance, enabling the Company to increase solar approval rates by over 8% without increasing expected loss rates. This update demonstrates Sunlight’s commitment to credit quality alongside its efforts to continually drive increased value for contractors and homeowners.
About Sunlight Financial
Sunlight (NYSE: SUNL) is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight’s best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act, as amended. Forward-looking statements may generally be identified by the use of words such as “could,” “should,” “would,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “plan,” “continue,” or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight’s business and the timing of expected business milestones or results; global supply chain shortages, competition for skilled labor, and permitting delays; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight’s future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight’s business or future results; Sunlight’s ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight’s capital providers and solar contractors; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the “Risk Factors” section of Sunlight’s Form 10-K as filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and Form 10-Q as filed with the SEC on May 16, 2022, and other documents of Sunlight filed, or to be filed, with the SEC. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight’s SEC filings are available publicly on the SEC’s website at www.sec.gov.
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Investor Relations
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Project to reliably alleviate grid constraints and deliver clean, renewable energy to residents
SAN DIEGO & SANTA ROSA, Calif.--(BUSINESS WIRE)--Luminia and Sonoma Clean Power (SCP) announced today the signing of a Power Purchase Agreement (PPA) for the development of an 11.6 MW AC solar plus 32 MWh battery storage project in Sonoma, California. Construction of the 75-acre project is expected in the second half of 2023 in southern Sonoma County, tying into a nearby electrical substation.
“Deploying reliable solar and storage projects with community choice aggregators like Sonoma Clean Power reinforces renewable energy as the new standard in our daily energy lives,” said Dale A. Vander Woude, chief investment officer of Luminia. “We formed an excellent team with Kenwood Investments to provide Sonoma Clean Power with a solution for its resource adequacy demand, which is what brought this important project to fruition in Sonoma County.”
In addition to the PPA, Luminia and Kenwood Investments, LLC, are managing the late-stage development of the project. Once completed, SCP will dispatch the 100 percent renewable, locally generated electricity to its EverGreen premium service customers throughout Sonoma and Mendocino counties. The 11.6 MW AC solar PV system also includes 32 MWh of lithium-ion battery storage that can distribute stored solar power across the grid during peak evening hours.
“Our mission is to make cleaner electricity accessible to our customers by putting the power to procure energy in the hands of local communities,” said Deb Emerson, managing director of procurement for Sonoma Clean Power. “With this solar and storage project we can provide renewable energy on-demand, regardless of the time of day, and promote 100 percent carbon-free energy generated right here in Sonoma County.”
Sonoma Clean Power has set the bar when it comes to renewable electricity options for residential and commercial customers. EverGreen is the only generation service in the U.S. that is truly renewable 24/7. EverGreen utilizes solar and geothermal power from facilities located exclusively in Sonoma and Mendocino counties.
Darius Anderson, managing member of Kenwood Investments, said, “It is an honor to work with Sonoma Clean Power, County stakeholders and Luminia on this important solar project for the Sonoma community.”
SCP issued a Request for Proposals in June 2021 in response to the Board’s request to procure more local renewable resources for EverGreen. The companies then entered into an exclusivity agreement for the project in November 2021.
To learn more about Luminia’s unique solar PV and energy efficiency financing solutions for commercial and community projects, visit luminia.io. To learn more about SCP’s EverGreen-Local Resource Plan, visit sonomacleanpower.org/programs/evergreen.
About Luminia
Founded in 2019, California-based Luminia provides unique financing and technology platform solutions that enable the deployment of commercial property sustainability improvements at scale. Through novel financing options and artificial intelligence-driven commercial real estate portfolio analysis, Luminia empowers commercial and industrial property owners to implement holistic clean energy and energy efficiency upgrades without barriers. Luminia’s solutions are purpose built to offer the greatest potential economic benefit and advance a property’s ability to meet ESG requirements. For more information, visit luminia.io.
About Sonoma Clean Power
SCP is the not-for-profit public power provider that operates a Community Choice Aggregation or ‘CCA’ for Sonoma and Mendocino counties, serving a population of about a half-million. SCP has operated for 8 years, serving all the cities and unincorporated areas of the two counties except Healdsburg and Ukiah, where long-standing municipal power providers exist. In downtown Santa Rosa, SCP operates the only Advanced Energy Center in the United States dedicated to helping customers transition to 100% renewable energy for their homes, businesses, and cars. SCP is also the only power provider in California offering 100% renewable energy twenty-four per day, every day of the year. To learn more, visit sonomacleanpower.org or call 1 (855) 202-2139.
Christine Bennett for Luminia
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Agreement combines industry leadership in electrolyzer technology with proven nuclear expertise
CRANBERRY TOWNSHIP, Pa. & SAN JOSE, Calif.--(BUSINESS WIRE)--Westinghouse Electric Company and Bloom Energy Corporation (NYSE:BE) today announced that they have entered into a Letter of Intent to pursue clean hydrogen production in the commercial nuclear power market. The companies are teaming to identify and implement clean hydrogen projects across the nuclear industry.
Westinghouse and Bloom Energy will jointly develop an optimized and large-scale high temperature integrated electrolysis solution for the nuclear industry. With the ability to operate 24/7 and provide high-quality steam input, nuclear plants are well-positioned to utilize electrolyzer technology and produce substantial quantities of clean hydrogen with minimal disruption to current, ongoing operations.
"Through this collaboration, we are committed to delivering an economical solution for large-scale hydrogen production in the nuclear industry, which further supports the path to net zero carbon emissions," said Pam Cowan, Westinghouse President of Americas Operating Plant Services.
“We are proud Westinghouse has turned to Bloom and our solid oxide technology to supercharge the clean hydrogen economy,” said Rick Beuttel, vice president, hydrogen business, Bloom Energy. “Solid oxide technology is well suited for nuclear applications, efficiently harnessing steam to further improve the economics of hydrogen production. High temperature electrolysis is already garnering attention and accolades as a cost-effective and viable solution to create low-cost, clean hydrogen, which is critical to meeting aggressive decarbonization goals.”
Global demand for hydrogen and its emerging applications is projected to increase tenfold or more by 2050, surpassing the current infrastructure for producing and delivering hydrogen. As hydrogen usage expands from traditional industrial uses to the fuel of a clean future, the need to produce it in larger quantities and from low- and zero-carbon sources is clear.
The hydrogen produced in nuclear plants can be utilized to serve many industries such as renewable fuels production, oil and metals refining, ammonia synthesis, mining operations, and mobility in sectors such as heavy trucks, buses, and even air travel. The companies also are well positioned to support the U.S. Department of Energy’s developing hydrogen hubs.
About Westinghouse
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
About Bloom Energy
Bloom Energy empowers businesses and communities to responsibly take charge of their energy. The company’s leading solid oxide platform for distributed generation of electricity and hydrogen is changing the future of energy. Fortune 100 companies around the world turn to Bloom Energy as a trusted partner to deliver lower carbon energy today and a net-zero future. For more information, visit www.bloomenergy.com.
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World’s most dynamic tech leaders convene to discuss ideas and demonstrate products to make transportation and mobility faster, cleaner, safer
BENTONVILLE, Ark.--(BUSINESS WIRE)--More than 250 guests will descend on Northwest Arkansas today for the opening of the 2022 UP.Summit. Now in its fifth year, the UP.Summit is an invitation-only event that attracts CEOs of some of the world’s biggest companies, founders of the most inspiring start-ups, and capital allocators representing more than $1 trillion of assets under management. Their shared objective is this year’s UP.Summit theme – “Transforming the Moving World.” The UP.Summit was founded in 2017 and is jointly hosted by investment firm UP.Partners, Tom and Steuart Walton, and Ross Perot Jr, rotating between Bentonville, Ark., and Dallas/Ft. Worth, Texas, annually.
This once-in-a-lifetime window into the future of transportation and mobility will feature innovators participating in deeply-engaging conversations, mind-bending technological demonstrations, and relationship-building adventures.
Arkansas leaders recently staked a claim to be the global leader in next-generation transportation by 2030. The incredible guest list and agenda for the 2022 UP.Summit proves that the state has the capital and clout to make it happen, said the summit’s co-creator and Arkansas Future Mobility Council Chairman Cyrus Sigari.
“Think Sun Valley meets CES meets the Oshkosh Airshow meets Burning Man meets TED meets Davos,” Sigari said. “The world’s industry leaders are coming together for three days of airshows, first-time product reveals, major announcements and inspirational speakers.”
Visionaries from the following organizations are scheduled to attend the 2022 UP.Summit: Airbus, Alaska Airlines, Boeing, Beta, Boeing, FAA (Federal Aviation Administration), Ford, Canoo, Gatik, Goodleap Solar, J.B. Hunt, Joby Aviation, Norse Atlantic Airways, Redwood Materials, Reliable Robotics, Skydio, Stoke Space, Universal Hydrogen, Volocopter, Walmart, Zipline, and many others.
The UP.Summit was founded by UP.Partners, a multi-strategy mobility focused investment firm that forges alliances with some of the world’s most impactful transportation technology companies in an effort to help move people and goods cleaner, faster, safer, and at lower-cost - on the ground, in the air, on the sea, and in space.
The gathering is jam-packed with demonstrations of innovative technical marvels including electric and autonomous aircraft, electric and autonomous cars and trucks, remote-controlled construction equipment, hydrogen-powered yard trucks, drones, and many other prototypes.
But the UP.Summit is about more than just showcasing next-generation products; it’s about producing tangible results. At the 2019 summit, more than $500 million of direct investment was committed by attendees into companies that presented at the event.
Several companies at this year’s UP.Summit are planning major announcements about advancements in the transportation and mobility sectors. Follow UP.Partners social channels and #UPsummit2022 to watch the news unfold in real time.
About UP.Summit
UP.Summit is an annual, invitation-only gathering of the world’s most innovative minds rethinking the future of transportation. Leaders of the most impactful companies moving people and goods gather at the summit each year with the goal of moving people and goods cleaner, faster, safer, and at lower-cost - on the ground, in the air, on the sea, and in space. UP.Summit was founded in 2017 and is jointly organized by UP.Partners, Tom and Steuart Walton, and Ross Perot Jr.
About UP.Partners
Transportation is the underlying fabric of society. UP.Partners invests in the pioneering entrepreneurs who are creating the key enabling technologies that help move people and goods moving people and goods cleaner, faster, safer, and at lower-cost - on the ground, in the air, on the sea, and in space. UP.Partners with some of the world's most innovative investors and companies including Alaska Airlines, ARK Invest, and Woven Capital, the investment arm of Toyota subsidiary Woven Planet Group. UP.Summit convenes the mobility community's brightest minds each year to help humanity go UP. Together, the UP community is transforming the moving world. For more information, visit UP.Partners or follow on Twitter @UpPartnersVC or LinkedIn.
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WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (“ESS,” “ESS Inc.”), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, announced today that ESS management will present at upcoming investor conferences in June.
A live webcast of the Cowen presentation will be available on ESS’ Investor Relations website at http://investors.essinc.com/. A replay of the event will be available via the web at http://investors.essinc.com/.
About ESS Inc.
ESS Inc. (NYSE: GWH) designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment. For more information, visit www.essinc.com.
Investors:
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Trevi Communications, Inc.
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BAINBRIDGE, Ga.--(BUSINESS WIRE)--Danimer Scientific (NYSE: DNMR) (“Danimer” or the “Company”), a leading next generation bioplastics company focused on the development and production of biodegradable materials, announced today that members of Danimer management will participate in Cowen’s 2nd Annual Sustainability & Energy Transition Summit to be held virtually on June 7-8, 2022.
About Danimer Scientific
Danimer is a pioneer in creating more sustainable, more natural ways to make plastic products. For more than a decade, its renewable and sustainable biopolymers have helped create plastic products that are biodegradable and compostable and return to nature instead of polluting our lands and waters. Danimer’s technology can be found in a vast array of plastic end products that people use every day. Applications for its biopolymers include additives, aqueous coatings, fibers, filaments, films and injection-molded articles, among others. Danimer holds more than 430 granted patents and pending patent applications in more than 20 countries for a range of manufacturing processes and biopolymer formulations. For more information, visit www.DanimerScientific.com.
Forward Looking Statements
Please note that in this press release we may use words such as “appears,” “anticipates,” “believes,” “plans,” “expects,” “intends,” “future,” and similar expressions which constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding our expectations for full year 2022 capital expenditures and Adjusted EBITDA. Forward-looking statements are made based on our expectations and beliefs concerning future events impacting the Company and therefore involve a number of risks and uncertainties. We caution that forward-looking statements are not guarantees and that actual results could differ materially from those expressed or implied in the forward-looking statements. Potential risks and uncertainties that could cause the actual results of operations or financial condition of the Company to differ materially from those expressed or implied by forward-looking statements in this release include, but are not limited to, the overall level of consumer demand on our products; general economic conditions and other factors affecting consumer confidence, preferences, and behavior; disruption and volatility in the global currency, capital, and credit markets; the financial strength of the Company's customers; the Company's ability to implement its business strategy, including, but not limited to, its ability to expand its production facilities and plants to meet customer demand for its products and the timing thereof; risks relating to the uncertainty of the projected financial information with respect to the Company; the ability of the Company to execute and integrate acquisitions; changes in governmental regulation, legislation or public opinion relating to our products; the Company’s exposure to product liability or product warranty claims and other loss contingencies; disruptions and other impacts to the Company’s business, as a result of the COVID-19 global pandemic and government actions and restrictive measures implemented in response; stability of the Company’s manufacturing facilities and suppliers, as well as consumer demand for our products, in light of disease epidemics and health-related concerns such as the COVID-19 global pandemic; the impact that global climate change trends may have on the Company and its suppliers and customers; the Company's ability to protect patents, trademarks and other intellectual property rights; any breaches of, or interruptions in, our information systems; the ability of our information technology systems or information security systems to operate effectively, including as a result of security breaches, viruses, hackers, malware, natural disasters, vendor business interruptions or other causes; our ability to properly maintain, protect, repair or upgrade our information technology systems or information security systems, or problems with our transitioning to upgraded or replacement systems; the impact of adverse publicity about the Company and/or its brands, including without limitation, through social media or in connection with brand damaging events and/or public perception; fluctuations in the price, availability and quality of raw materials and contracted products as well as foreign currency fluctuations; our ability to utilize potential net operating loss carryforwards; and changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks. More information on potential factors that could affect the Company's financial results is included from time to time in the Company's public reports filed with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. All forward-looking statements included in this press release are based upon information available to the Company as of the date of this press release, and speak only as of the date hereof. We assume no obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release.
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HOUSTON--(BUSINESS WIRE)--Crestwood Equity Partners LP (NYSE: CEQP) (“Crestwood”) announced today the publication of its 2021 sustainability report, furthering its commitment to lead the MLP midstream industry in sustainability. The report, entitled Real Change. In Real Time., provides enhanced transparency on Crestwood’s environmental, social and governance (ESG) performance, including details on how the company met its ESG goals, including its methane emissions intensity rate, and diversity, equity and inclusion (DEI) performance, both of which are tied to executive and employee compensation. Crestwood also highlights the achievements made on its first three-year sustainability strategy, which culminated in late 2021, while detailing the next six focus areas that are incorporated in its second three-year sustainability strategy as it continues to integrate sustainability into everyday business operations. The 2021 sustainability report is available at https://esg.crestwoodlp.com.
“We are pleased to share our ESG achievements and priorities in Crestwood’s 2021 sustainability report as we continue our authentic approach to delivering energy affordably, responsibly and sustainably. I am proud of our employees’ dedication to incorporate sustainable business practices into their everyday roles as we work to further progress our sustainability initiatives and best-in-class operating culture,” said Robert G. Phillips, Founder, Chairman and Chief Executive Officer of Crestwood’s general partner. “Crestwood remains at the forefront of ESG developments in the midstream sector. We lead the Energy Infrastructure Council’s ESG working group to improve industry standardization of ESG metrics, and this year, we are advancing our commitment to climate leadership though participation in Cheniere’s Quantification, Monitoring, Reporting and Verification (QMRV) Project. This will enable us to improve the understanding of greenhouse gas emissions, resulting in meaningful improvements in carbon management practices going forward.”
Joanne Howard, Crestwood’s Senior Vice President, ESG and Corporate Communications, commented, “As we publish our fourth annual sustainability report, I am inspired to see sustainability systematically ingrained as part of the culture throughout the company. As we progress, we know we must continue to adjust Crestwood’s strategies and actions, taking into account the changing expectations of our stakeholders in an ever-evolving energy landscape. Therefore, we conducted our second materiality assessment last year to ensure Crestwood’s ESG risks and opportunities remain relevant. As we move into 2022, our next three-year sustainability strategy and first carbon management plan lays out a comprehensive and real time plan, which is integral to Crestwood’s distinction as a best-in-class operator.”
Highlights of Crestwood’s 2021 sustainability report include:
Crestwood’s 2021 sustainability report has been prepared in accordance with the Global Reporting Initiative (GRI) Standards - Core option and is aligned with the Sustainability Accounting Standards Board (SASB) midstream reporting framework and the Task Force on Climate-related Financial Disclosures (TCFD). New ESG presentation materials are also posted to Crestwood’s website at www.crestwoodlp.com.
About Crestwood Equity Partners LP
Houston, Texas, based Crestwood Equity Partners LP (NYSE: CEQP) is a master limited partnership that owns and operates midstream businesses in multiple shale resource plays across the United States. Crestwood is engaged in the gathering, processing, treating, compression, storage and transportation of natural gas; storage, transportation, terminalling and marketing of NGLs; gathering, storage, terminalling and marketing of crude oil; and gathering and disposal of produced water. Visit Crestwood Equity Partners LP at www.crestwoodlp.com; and to learn more about Crestwood’s sustainability efforts, please visit https://esg.crestwoodlp.com.
Forward-Looking Statements
This press release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal securities law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. These risks and assumptions are described in Crestwood’s annual reports on Form 10-K and other reports that are available from the United States Securities and Exchange Commission. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management’s view only as of the date made. We undertake no obligation to update any forward-looking statement, except as otherwise required by law.
Crestwood Equity Partners LP
Investor Contact
Rhianna Disch, 713-380-3006
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Director, Investor Relations
Sustainability and Media Contact
Joanne Howard, 832-519-2211
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Senior Vice President, ESG and Corporate Communications
LOS ANGELES--(BUSINESS WIRE)--EVgo Inc. (Nasdaq: EVGO, or the “Company”), the nation’s largest public fast charging network for electric vehicles (EVs), today announced that members of its senior management team will be participating in investor conferences hosted by Bank of America, Evercore ISI, and JP Morgan during the month of June.
In conjunction with the investor meetings at these conferences and elsewhere, EVgo has made available an updated investor presentation which will be accessible on the Events & Presentations section of the Company’s investor relations website at https://investors.evgo.com/.
About EVgo
EVgo (Nasdaq: EVGO) is the nation’s largest public fast charging network for electric vehicles, and the first to be powered by 100% renewable energy. With more than 850 charging locations, EVgo’s owned and operated charging network serves over 60 metropolitan areas across more than 30 states and approximately 375,000 customer accounts. Founded in 2010, EVgo leads the way on transportation electrification, partnering with automakers; fleet and rideshare operators; retail hosts such as hotels, shopping centers, gas stations and parking lot operators; and other stakeholders to deploy advanced charging technology to expand network availability and make it easier for drivers across the U.S. to enjoy the benefits of driving an EV. As a charging technology first mover, EVgo works closely with business and government leaders to accelerate the ubiquitous adoption of EVs by providing a reliable and convenient charging experience close to where drivers live, work and play, whether for a daily commute or a commercial fleet.
For Investors:
Ted Brooks, VP of Investor Relations
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310-954-2943
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FREMONT, Calif.--(BUSINESS WIRE)--Solaria Corporation, a U.S.-based global provider of advanced solar energy products, announced today that it has settled its patent infringement claims against Canadian Solar, Inc. (CSIQ).
Under the terms of the agreement, Solaria has agreed to terminate its litigations against Canadian Solar in exchange for Canadian Solar ceasing its importation of shingled solar modules into the U.S. for seven years.
The settlement resolves patent infringement disputes that Solaria brought against Canadian Solar in Federal District Court for the Northern District of California and in the United States International Trade Commission (ITC) related to Solaria’s proprietary shingled solar module technology.
Solaria CEO Tony Alvarez explained that “Solaria initially filed suit against Canadian Solar because they chose to ignore and violate Solaria’s core intellectual property (IP). When rendering his Initial Determination in the ITC investigation, the Chief Administrative Law Judge recognized that Canadian Solar infringed Solaria’s patents.” In that Initial Determination, which was issued in October 2021, Chief Administrative Law Judge Cheney found that Canadian Solar, a Chinese solar panel manufacturer, violated section 337 of the Tariff Act of 1930, as amended, in their importation of shingled solar modules.
Alvarez added: “Solaria remains open to cooperating with companies that recognize the value of Solaria’s IP; we’ve licensed Solaria’s technology to other firms in the industry. However, Solaria will actively defend our IP against any infringers, and protect our technology for ourselves and our valued partners.”
About Solaria
Solaria Corporation is a U.S.-based solar PV technology and systems company, with a 20-year history in solar power innovation and product development. Solaria is paving the way for distributed, clean power generation by delivering state-of-the-art engineering and automation to provide superior field performance and unrivaled aesthetics. Solaria is headquartered in California, USA. For more information, please visit www.solaria.com.
Jordan Trent Jones, Chief Counsel
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+1 (415) 418-0380
DALLAS--(BUSINESS WIRE)--Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today that Scott Rowe, president and chief executive officer, will present at the Cowen Sustainability & Energy Transition Summit on Wednesday, June 8, at 9:50 a.m. ET and at the Stifel 2022 Boston Cross Sector Insight Conference on Thursday, June 9, at 9:45 a.m. ET. Additionally, Flowserve management will host meetings at the UBS Global Industrials and Transportation Conference 2022 in New York City on Tuesday, June 7.
Webcasts of Mr. Rowe’s discussions will be available for shareholders and other interested parties at www.flowserve.com under the “Investor Relations” section.
About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition. The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; expectations regarding acquisitions and the integration of acquired businesses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contact:
Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644
HALIFAX, Nova Scotia & BRISBANE, Australia--(BUSINESS WIRE)--Today Emera Technologies Limited, a subsidiary of Emera Inc. (TSX:EMA), and NOVONIX Limited (NASDAQ: NVX, ASX: NVX, OTCQX: NVNXF) (“NOVONIX”), a leading battery materials and technology company in Halifax, announced the delivery of their first-of-its-kind, custom-designed microgrid battery prototype.
Emera Technologies and NOVONIX first announced their partnership to develop the innovative battery storage technology in Halifax early in 2021. The prototype was developed by NOVONIX to support Emera Technologies’ residential microgrid system, BlockEnergy™, which is operating in a residential pilot project south of Tampa, Florida.
“Innovation and emerging technologies will be key to shaping a viable path to a cleaner energy future, particularly as we work toward our vision to achieve net-zero CO2 emissions by 2050,” said Scott Balfour, President and Chief Executive Officer of Emera Inc. “We’re proud to be collaborating with NOVONIX on this leading-edge, purpose-built and utility-grade battery solution, and even prouder that this technology was conceived and built right here in Atlantic Canada.”
The BlockEnergy microgrid system connects homes in a shared energy network, enabling rooftop solar power to be seamlessly stored and dispersed to the entire community through smart distributed controls.
“We’re continually innovating and investing in technologies that deliver high-performance battery materials to support longer life batteries and advanced storage systems,” said Dr. Chris Burns, Co-Founder and CEO of NOVONIX. “Our work with Emera for their BlockEnergy residential microgrid opens the gateway to exciting new possibilities for a cleaner, more reliable power grid with renewables being produced, stored and consumed within local communities. It will change the landscape of how we produce and consume energy going forward.”
Working with research partner Sandia National Laboratory in the U.S., testing of the microgrid battery prototype is expected to be complete later this year.
About Emera Technologies
Emera Technologies is a dedicated and nimble organization focused on developing new ways to deliver renewable energy to customers. Headquartered in Tampa, Florida, the team engages experts, research organizations, and technology leaders to capitalize on the disruptive challenges and innovation opportunities in today’s energy industry. For more information on Emera Technologies, please visit https://blockenergy.com/. Emera Technologies is a wholly owned subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with more than 2.5 million customers.
About BlockEnergy™
Developed by Emera Technologies LLC, a subsidiary of Emera Inc., the BlockEnergy Smart Platform is the world’s first utility-focused, front-of-the-meter, distributed renewable energy platform for new build communities of all sizes. Owned, operated and maintained by the local utility, BlockEnergy is the first truly plug-and-play energy system. Comprised of a simple kit of parts, BlockEnergy is installed by local utilities as a capital asset to deliver the most advanced, secure, reliable power available. Scalable, storm-resilient and able to interoperate seamlessly with the local grid when needed, BlockEnergy puts rooftop solar, energy storage and smart distributed controls throughout new communities of all sizes. These homes are joined together in a network, creating self-sustaining BlockLoops, able to independently power homes without disruption.
About Emera Inc.
Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $34 billion in assets and 2021 revenues of more than $5.7 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in three Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H, EMA.PR.J and EMA.PR.L. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.
About NOVONIX
NOVONIX is a leading battery technology company with operations in both Canada and the United States. NOVONIX provides advanced, high-performance materials, equipment, and services for the global lithium-ion battery industry with sales in 14 countries. We develop materials and technologies to support longer-life and lower-cost batteries that are powering us towards a cleaner energy future.
Our NOVONIX Battery Technology Solutions division, based in Halifax, Nova Scotia, Canada, focuses on innovative battery research and development, along with providing advanced battery testing equipment and services on a global scale.
Our NOVONIX Anode Materials division, located in Chattanooga, Tennessee, USA, manufactures our synthetic graphite anode materials used to make lithium-ion batteries which power electric vehicles, personal electronics, medical devices, and energy storage units. To address the growing industry demand, we are working to increase the production capacity to 10,000 metric tons of synthetic graphite per annum (tpa) by 2023, with further targets of 40,000 tpa by 2025 and 150,000 tpa by 2030.
Media:
Dina Seely
902-222-2683
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Chantal Theoret
416-357-1747
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Eco-friendly Systems To Provide Cost Effective Power for Education and Agriculture
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #CGRN--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, will be enabling two new customers in the education and agricultural sectors to achieve their energy, reliability and environmental goals. Cal Microturbine, Capstone’s exclusive distributor for California, Hawaii, Nevada, Oregon and Washington, has secured two orders for Capstone Green Energy Signature Series systems in Southern California. The first order for one C600S unit will be installed for a customer in the education space, while the second order for two C1000S units will be provided to a customer in the agriculture industry. All the systems are expected to be operational by the early part of 2023.
“Capstone Green Energy continues to build its portfolio as a cutting-edge provider of clean energy solutions and technology. Our distinct product lines help customers across industries and sectors in California and around the world find green energy solutions. Customers choose Capstone to meet their energy needs while boosting the reliability of their energy supply, improving predictability of energy costs and lowering their carbon footprint,” said Darren Jamison, Chief Executive Officer of Capstone Green Energy.
In both cases, customers selected Capstone’s microturbine technology for its low emissions while also providing the best overall value for lifecycle cost and operational cost savings. In the case of the C600S installation for the education customer, the unit will be part of a microgrid installed concurrently with the microturbine system. Both systems will be fueled by natural gas and will feature Capstone’s Logic Controller (CLC) which allows for fully automated control of the energy system.
“Capstone’s C1000 Signature Series microturbines are maturing nicely as they mark their fifth year in the market. We see them as the most reliable on-site power generation technology available today. The C1000 Signature Series possesses a unique modular design, which allows for unprecedented redundancy in the most cost-effective way. Further, the modular infrastructure provides customers with several other competitive advantages: increased reliability, efficient serviceability without operational interference, and the ability to expand energy production needs as businesses grow. We are excited to see California’s continued focus on adopting Capstone’s Signature Series microturbine product array,” said Cal Microturbine Chief Executive Officer, Ryan Brown.
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.
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
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RICHMOND, Va.--(BUSINESS WIRE)--Dale G. Mullen, a partner in Whiteford’s Richmond office, has been appointed to the Virginia Board of Accountancy by Governor Glenn Youngkin. "Together, we are building a team of qualified individuals who will work to make Virginia the best state to live, work, and raise a family,” said Governor Glenn Youngkin in the Commonwealth’s May 13 Press Release announcing the nominations. “I'm thankful for those who will join our Administration, and all who will contribute their time and expertise in service to our commonwealth." Dale Mullen was sworn in by Secretary of the Commonwealth Kay Coles James on March 15. The mission of the VBOA is to protect the citizens of the Commonwealth through a regulatory program of licensure and compliance of CPAs and CPA firms. “It is a tremendous honor to serve in this capacity,” Mr. Mullen said.
Mr. Mullen brings decades of experience and a deep understanding of the impact of government regulation on licensed professionals and business. He represents clients throughout the United States on federal and state rulemaking, permitting and enforcement in highly regulated industries including financial regulation, utilities, energy and export compliance. He leads Whiteford’s Regulatory Compliance, Administrative Law and Government Investigations practice and is admitted to practice in Virginia, New York and the U.S. District Courts of the District of Columbia.
John Selbach, Co-Chair of the firm’s Business and Corporate Law Section, said, “Accountants play an indispensable support role in any merger or acquisition, and Whiteford is proud to support the Commonwealth of Virginia and the community of Certified Public Accountants.”
Mr. Mullen has been recognized as a “Legal Elite” by Virginia Business Magazine, a “Leading Lawyer for Business” by Chambers USA, and by Best Lawyers in America. A United States Navy veteran, he has served in the Organized Crime Division of the Richmond Police Department and as a Command Sergeant of the Audit and Inspections Unit, Assistant Attorney General and Chief Prosecutor for the Commonwealth of Virginia, Special Assistant United States Attorney (SAUSA), county attorney and county administrator. During his time at the Virginia Office of the Attorney General, he implemented strategies for regulatory and compliance fraud prosecutions that contributed to national recognition and an award for civil and criminal fraud recoveries in excess of $535 million.
Mr. Mullen is a graduate of the T.C. Williams School of Law (2002), where he was an Articles Editor for the University of Richmond Law Review and later served as Adjunct Faculty and Law Skills Instructor. He has served as Adjunct Faculty to Virginia Commonwealth University (VCU) and holds certificates in Sustainable Business Strategies (Harvard Business School, 2021), Negotiation Mastery (Harvard Business School, 2020), and Negotiation (University of Michigan, 2020).
Dale Mullen This email address is being protected from spambots. You need JavaScript enabled to view it.
LONG BEACH, Calif.--(BUSINESS WIRE)--California Resources Corporation (NYSE: CRC) (“CRC” or the “Company”) today announced that it is soliciting consents (the “Consent Solicitation”) from holders of its outstanding 7.125% Senior Notes due 2026 (the “Notes”) as of 5:00 p.m. New York City time, on June 3, 2022 (the “Record Date”) to a proposed amendment to the indenture governing such Notes (the “Indenture”). The Consent Solicitation is being made solely upon the terms and conditions described in the Company’s Consent Solicitation Statement, dated June 6, 2022 (the “Consent Solicitation Statement”). The Consent Solicitation will expire at 5:00 p.m., New York City time, on June 10, 2022, unless extended or earlier terminated by the Company (the “Expiration Date”).
Certain details regarding the Notes and the Consent Solicitation are set forth in the table below.
Title of Notes |
CUSIP Numbers |
Aggregate Principal Amount Outstanding (U.S. $) |
Consent Payment per U.S. $1,000 Principal Amount of Notes |
7.125% Senior Notes due 2026 |
13057QAH0 13057QAJ6 U1303AAE6 |
$600,000,000 |
$10.00 |
The Company is soliciting consents (“Consents”) from the holders of the Notes for a proposed amendment to the Indenture to provide the Company and its Restricted Subsidiaries (as defined in the Indenture) with the ability to make unlimited Restricted Payments (as defined in the Indenture) subject to compliance, on a pro forma basis, with a Total Leverage Ratio (as defined in the Indenture) of no greater than 1.50:1.00 (the “Proposed Amendment”).
Adoption of the Proposed Amendment requires Consents from the holders of a majority in aggregate principal amount of the outstanding Notes (the “Requisite Consents”). In the event that the Company receives the Requisite Consents on or prior to the Expiration Date, the Company will pay an aggregate cash payment equal to $10.00 per $1,000 principal amount of Notes for the Consents that are validly delivered and unrevoked (the “Consent Payment”) to the holders who delivered such valid and unrevoked Consents on or prior to the Expiration Date. No accrued interest will be paid on the Consent Payment. If the Proposed Amendment becomes operative with respect to the Notes, holders of the Notes that do not deliver valid and unrevoked Consents with respect to their Notes prior to the Expiration Date, or at all, will be bound by the Proposed Amendment. In addition, such holders will not receive the Consent Payment.
The Consent Solicitation is subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Consent Solicitation Statement, including the receipt of the Requisite Consents. The Company intends to fund the Consent Solicitation, including fees and expenses payable in connection with the Consent Solicitation, with cash on hand.
MUFG Securities Americas Inc. and Citigroup Global Markets Inc. are the Joint Solicitation Agents. Global Bondholder Services Corporation has been retained to serve as the Information and Tabulation Agent for the Consent Solicitation. Persons with questions regarding the Consent Solicitations should contact MUFG Securities Americas Inc. at (toll free) (877) 744-4532 or (New York) (212) 405-7481 or Citigroup Global Markets Inc. at (toll free) (800) 558-3745 or (collect) (212) 723-6106. Requests for the Consent Solicitation Statement should be directed to Global Bondholder Services Corporation at (toll free) (855) 654-2015 or (collect) (212) 430-3774 or by email to This email address is being protected from spambots. You need JavaScript enabled to view it..
None of the Company, the Joint Solicitation Agents, the Information and Tabulation Agent, the trustee under the Indenture or any of their respective affiliates is making any recommendation as to whether holders should deliver Consents in response to the Consent Solicitation. Holders must make their own decision as to whether to participate in the Consent Solicitation, and, if so, the principal amount of Notes in respect of which to deliver Consents.
This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Consent Solicitation is being made only pursuant to the Consent Solicitation Statement and only in such jurisdictions as is permitted under applicable law. In any jurisdiction in which the Consent Solicitation is required to be made by a licensed broker or dealer, the Consent Solicitation will be deemed to be made on behalf of the Company by the Joint Solicitation Agents, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
About California Resources Corporation
CRC is an independent oil and natural gas company committed to energy transition in the sector. CRC has some of the lowest carbon intensity production in the US and we are focused on maximizing the value of our land, mineral and technical resources for decarbonization by developing Carbon Capture and Storage and other emissions reducing projects.
Forward-Looking Statements
All statements, except for statements of historical fact, made in this release regarding activities, events or developments the Company expects, believes or anticipates will or may occur in the future, such as statements regarding the Consent Solicitation, the timing thereof, and the Company’s intention to fund the Consent Solicitation, are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements speak only as of the date of this release. Although the Company believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, the Company expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
The Company cautions you that these forward-looking statements are subject to all of the risks and uncertainties incident to the Company’s business, most of which are difficult to predict and many of which are beyond the Company’s control. These risks include, but are not limited to, the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and its subsequently filed Quarterly Report on Form 10-Q.
Joanna Park (Investor Relations)
818-661-3731
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Richard Venn (Media)
818-661-6014
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SAN RAMON, Calif.--(BUSINESS WIRE)--GE Digital, the leading software innovator enabling the power generation and energy industries, today announced that it has achieved Amazon Web Services (AWS) Energy Competency status. This designation recognizes that GE Digital has demonstrated deep expertise leveraging AWS to build, implement, and integrate technology that transforms complex business and operational systems to help accelerate the energy transition.
AWS is enabling scalable, flexible, and cost-effective solutions from multiple enterprises. To support the seamless integration and deployment of these solutions, AWS established the AWS Competency Program to help customers identify AWS Partners with deep industry experience and expertise.
“Software plays a vital role in improving the productivity, reliability, and efficiency of energy production,” said Linda Rae, General Manager of GE Digital’s Power Generation and Oil & Gas business. “Achieving the AWS Energy Competency differentiates GE Digital as an AWS Partner with demonstrated AWS technical expertise and proven customer success in the energy industry.”
GE Digital’s Asset Performance Management (APM) solutions for both Power Generation and Oil & Gas industries were the basis of receiving the AWS Energy Competency status. These software solutions are designed to help optimize the performance of industrial assets to increase reliability and availability, to minimize costs, and reduce operational risks. For power generation, this is an imperative as plants must be able to reliably respond to more dynamic operating models as more and more renewables are added.
To receive the AWS Energy Competency Partner status, AWS Partners undergo a rigorous technical validation process, including a customer reference audit. The AWS Energy Competency provides energy customers the ability to more easily select skilled partners to help accelerate their digital transformation with confidence.
“APM is a foundational accelerator to address the needs of the energy transition,” concluded Rae. “Our AWS Energy Competency status allows us to work closely with AWS to help our customers achieve their energy transition goals.”
Click on these links for more information about GE Digital’s Power Generation and Oil & Gas software solutions.
About GE Digital
GE Digital transforms how our customers solve their toughest challenges by putting industrial data to work. Our mission is to bring simplicity, speed, and scale to digital transformation activities, with industrial software that delivers breakthrough business outcomes. GE Digital’s product portfolio – including grid optimization and analytics, asset and operations performance management, and manufacturing operations and automation – helps industrial companies in the utility, power generation, oil & gas, aviation, and manufacturing sectors change the way industry works. For more information, visit www.ge.com/digital.
© 2022 General Electric. All rights reserved. GE, the GE logo, and associated products are either registered trademarks or trademarks of General Electric in the United States and/or other countries. All other trademarks are the property of their respective owners.
Media:
Ellie Holman
GE Digital
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DALLAS--(BUSINESS WIRE)--Grey Rock Investment Partners (“Grey Rock”), through its affiliated investment vehicles, today announced an agreement to make a controlling investment in Vault CCS Holdings, LP (“Vault 44.01” or “Vault”) and fund additional growth of the company through a capital commitment of up to USD$150 million. Vault plans to use the committed capital to execute on its near-term actionable pipeline of Carbon Capture and Storage (“CCS”) projects, as well as the continued development of further opportunities in the CCS space. Vault has developed an extensive platform of actionable CCS projects with ethanol facilities in the Midwest region, each of which emits between 200,000 and 500,000 tonnes of CO2 per year; and has secured positions in several high quality, early-stage CCS projects in Canada. Vault’s pipeline of projects spans a range of industrial sectors across multiple regions of North America.
Led by Chief Executive Officer Scott Rennie who has more than 20 years of energy industry experience including leading CCS efforts within ConocoPhillips and Schlumberger Carbon Services, the Vault 44.01 team possesses a comprehensive project development skill set with expertise in geoscience, engineering, land management and project execution. Similarly, through its energy investments, Grey Rock’s team has a deep technical skill set which is complementary to that of Vault and which has proven valuable as the teams have collaborated closely on certain projects.
“In Grey Rock, we found a like-minded investment partner whose stellar investment track record and technical approach represents the type of capital partner that we feel will support our objective of developing and executing high quality CCS projects with a range of industrial partners across North America,” said Rennie. “Having a partner who understands the fundamentals of our business is critical in moving quickly to bring projects to fruition and support effective scaling of the emerging CCS industry.”
“We find carbon capture and sequestration to be one of the most compelling opportunities in the energy transition. After having met with several CCS teams, it was clear to us that Vault was the right fit for us in how we approach investments,” said Matt Miller, Co-Founder and Managing Director at Grey Rock. “The team evaluates projects from a 'technical-first' perspective allowing them to quickly screen opportunities which have a high probability of success and to focus their efforts on high quality projects with compelling risk-reward profiles.”
CCS is the process of capturing CO2 emissions from industrial emitters and converting the CO2 into a liquid form that can be safely transported and sequestered underground permanently. The process reduces the amount of CO2 that would have entered the atmosphere otherwise. The use of CCS significantly reduces a facility’s carbon footprint and supports the global initiative to combat climate change. Vault’s current pipeline of projects has the potential to capture and store up to 25 million metric tonnes of CO2 per year, which is the equivalent of removing 5.4 million cars from the roads per year or building a forest the size of Pennsylvania.
About Grey Rock Investment Partners
Grey Rock Investment Partners is a private equity firm with more than $1.3 billion in asset value. The firm invests across the energy value chain including carbon capture, industrial electrification, power optimization and natural resources. For more information, visit www.grey-rock.com
About Vault 44.01
Vault is a leading carbon capture & storage developer focused on the development, capitalization, and operation of carbon storage assets throughout North America. Vault’s core management, technical, and execution team brings over 40 years of direct carbon sequestration experience, with involvement in the development of carbon storage projects across North America since 2007, including each of the three currently operating carbon storage projects in saline aquifers in North America as well as many others.
Vault’s capabilities in carbon sequestration span feasibility, design, permitting, stakeholder engagement, construction, and operations. The company is currently engaged in 15+ emerging CCS projects throughout North America that range from single emitter sourced, on-site sequestration projects through to the origination and development of large multi-emitter CO2 sequestration hubs. For more information, visit www.vault4401.com.
Grey Rock
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Vault 44.01
Matthew Kielbasinski, CFO
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BOSTON--(BUSINESS WIRE)--SES AI Corporation (NYSE: SES), a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, today announced that management will participate and host one-on-one meetings at the following investor conferences.
RBC Global Mining & Materials Conference
Date: June 9, 2022
Location: New York City
https://www.rbccm.com/en/about-us/conferences.page
Evercore Global Clean Energy & Transition Technologies Summit
Date: June 14, 2022
Location: New York City
https://investors.evercore.com/static-files/0c8e7109-a773-4174-a471-588192973726
Deutsche Bank Global Auto Industry Conference
Date: June 16, 2022
Location: New York City
https://conferences.db.com/americas/auto1regform
Credit Suisse 2022 Virtual Mobility Conference
Date: June 21, 2022
Location: Virtual
https://www.credit-suisse.com/us/en/investment-banking/global-markets/equities/cash-equities/corporate-access-calendar.html
Wells Fargo Electric Vehicle Mini Conference
Date: June 23, 2022
Location: New York City
https://wellsfargo.dealogic.com/clientportal/Conferences/Conference
About SES
SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for electric vehicles (EVs) and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as Solid Energy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: ses.ai/investors/
SES may use its website as a distribution channel of material company information. Financial and other important information regarding SES is routinely posted on and accessible through the Company’s website at www.ses.ai. Accordingly, investors should monitor this channel, in addition to following SES’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
Investors: Eric Goldstein This email address is being protected from spambots. You need JavaScript enabled to view it.
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