AUSTIN, Texas--(BUSINESS WIRE)--Atlas Sand Company, LLC (“Atlas” or “Atlas Sand”), a leading provider of proppant, trucking and last mile logistics services to the Permian Basin, today announced the appointment of Jon Tutuncu as Chief Commercial Officer. Responsible for strategy, sales, marketing, business development and customer experience, Jon will play an integral role in shaping the strategic direction of the company and lead initiatives that include innovative solutions based on automation, robotics and advanced technologies.
“Jon has an exceptional track record of driving innovative and disruptive go-to-market strategies. He brings expertise in understanding business segments, verticals and the solutions and services that customers want,” said Bud Brigham, Founder & Executive Chairman of Atlas. “We are harnessing our core strengths in technology and automation as an advantage to grow and offer value-added solutions to our customers. I’m confident Jon is the right leader to take on this critical role and guide our organization to the next level of commercial success.”
“I am thrilled to join the Atlas team and continue to lead the path for providing reliable and mission critical services and solutions to the oil and gas industry,” stated Jon. “I look forward to working with our talented team and customers to transform the Permian Basin and bring additional value to the organizations and the communities we serve.”
Jon joins Atlas with global executive leadership experiences at Honeywell, Intelligrated and General Electric where he was responsible for profitable growth overseeing sales, marketing, business development and commercial excellence functions. He holds a Master of Business Administration from North Carolina State University and a Bachelor of Science from Middle East Technical University.
About Atlas Sand
Atlas Sand was founded by long-time E&P operators with significant experience in the Permian Basin alongside some of the best talent in the proppant industry. The Company provides the oil & gas industry access to the large open dunes and high quality frac sand located in the heart of the Permian Basin and its prolific resource plays in West Texas and Southern New Mexico as well as trucking and last mile logistics services. To learn more about Atlas Sand, please visit www.atlassand.com.
Atlas Sand
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(512) 220-1200
SAN JOSE, Calif.--(BUSINESS WIRE)--Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that plans to offer transportation and other in-space infrastructure services, today provided its third Mission Update since the launch of its Vigoride-3 spacecraft on May 25.
As we previously stated in earlier updates on the inaugural flight of the Vigoride orbital transfer vehicle, the spacecraft experienced anomalies after its launch on May 25. Since that time, we have continued work to address the anomalies and identify root causes. Of note, the deployable solar arrays that are produced by a third party and are folded and stowed during launch did not operate as intended once in orbit. This resulted in power and communications issues with the vehicle, even though the body mounted solar panels did operate as intended. We have been working closely with the third-party producer of the solar arrays, and in collaboration with that company have identified what we believe is the root cause of the arrays not operating as intended. We also believe we have identified the likely root cause of the other anomalies, although further analysis continues.
After initially experiencing these anomalies, we were able to deploy two customer satellites from Vigoride on May 28. Since that time, we have continued efforts to deploy other customer satellites, but have not confirmed any subsequent deployments. While we previously established two-way communications with the Vigoride vehicle, we have not been able to continue such two-way communication, which we believe is due to the low power situation on the vehicle due to the deployable solar arrays not operating as intended.
In an earlier update on May 27, we indicated that we were using an unplanned frequency as we worked through the anomalies and were applying for a Special Temporary Authority (STA) from the FCC to address that situation. On June 9, we received approval of a 30-day STA from the FCC as requested.
We are continuing efforts to address the anomalies, but our level of confidence that we will be able to deploy additional customer satellites from Vigoride and perform some planned operations of the vehicle on this test and demonstration mission has substantially declined.
On a second port on the launch vehicle on May 25, we also used third party hardware from a partner company to deploy another customer satellite in orbit. Using this hardware, our partner deployed four other satellites for their customers during this launch.
“During this first launch of the Vigoride vehicle to space, we have learned a great deal and plan to incorporate improvements in other Vigoride vehicles currently being assembled and ground-tested. This was the primary purpose of this initial Vigoride mission,” said John Rood, CEO of Momentus. “As we stated prior to the launch, we fully expected to experience challenges during this test and demonstration mission and to learn from them, which is what we are doing.”
Momentus’ plans for additional launches of the Vigoride vehicle later this year and in 2023 remain as stated in the Q1 earnings call on May 10, 2022, with agreements signed with SpaceX for launches on upcoming Transporter missions in 2022 and 2023, including Transporter 6 currently targeted for November 2022. We are working to incorporate improvements identified during the current mission on the other Vigoride vehicles that we plan to fly in space during these missions.
“I appreciate the dedication of the team at Momentus that has enabled us to conduct our first launch of customer satellites and the Vigoride vehicle,” said Rood. “This included months of detailed work to implement our National Security Agreement overseen by the Department of Defense and Department of the Treasury, and working with the Federal Aviation Administration (FAA), Federal Communications Commission (FCC), and National Oceanographic and Atmospheric Administration (NOAA) to obtain the necessary government licenses, determinations, and approvals to conduct this flight.”
Rood went on to say, “Space is a notoriously unforgiving environment. Like other companies that have worked through initial challenges to create successful capabilities, our engineering team at Momentus is focused on learning as much as possible from the remainder of the current Vigoride mission, and utilizing industry best practices to implement corrective actions and lessons-learned for our upcoming missions.”
About Momentus
Momentus is a U.S. commercial space company that plans to offer in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.
Forward-Looking Statements
This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on March 9, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Investors
Darryl Genovesi at This email address is being protected from spambots. You need JavaScript enabled to view it.
Media
Jessica Pieczonka at This email address is being protected from spambots. You need JavaScript enabled to view it.
Regular Monthly Meeting Scheduled Tuesday, June 28
HOUSTON--(BUSINESS WIRE)--The Port Commission of the Port of Houston Authority will hold a Special Meeting on Friday, June 17, 2022, at 9:00 a.m. It is a hybrid meeting. A quorum of the Port Commission and executive leadership will be present in the boardroom of the Port Authority Executive Office Building, located at 111 East Loop North, Houston, TX 77029.
The meeting is open to the public to attend in person, and also can be accessed virtually via WebEx webinar.
The agenda and the instructions to access Port Houston public meetings are available at https://porthouston.com/leadership/public-meetings/.
Please note the following upcoming Port Houston public meetings (subject to change):
June 28 |
9:15 a.m. |
Port Commission Regular Meeting |
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June 28 |
10:00 a.m.* |
Community Relations Committee Meeting |
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July 28 |
10:00 a.m. |
Business Equity Committee Meeting |
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August 1 |
10:00 a.m. |
Audit Committee Meeting |
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August 2 |
9:15 a.m. |
Port Commission Regular Meeting |
*(or immediately following adjournment of the Port Commission meeting)
Sign up for public comment is available up to an hour before these Port Commission or Committee meetings by contacting Erik Eriksson at This email address is being protected from spambots. You need JavaScript enabled to view it. or Liana Christian at This email address is being protected from spambots. You need JavaScript enabled to view it..
About Port Houston
For more than 100 years, Port Houston has owned and operated the public wharves and terminals along the Houston Ship Channel – the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. nation. The more than 200 private and eight public terminals along the federal waterway supports the creation of nearly 1.35 million jobs in Texas and 3.2 million jobs nationwide, and economic activity totaling $339 billion in Texas – 20.6% of Texas’ total gross domestic product (GDP) – and a total of $801.9 billion in economic impact across the nation. For more information, visit the website: https://porthouston.com/.
Lisa Ashley, Director, Media Relations, Port Houston
Office: 713-670-2644; Mobile: 832-247-8179; E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
TAMPA, Fla.--(BUSINESS WIRE)--Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) today announced that its Board of Directors has authorized a program to purchase up to five million shares of the Company’s common stock.
Under the program, the Company may repurchase shares from time to time in open market transactions (including the use of trading plans under SEC Rule 10b5-1) or in privately negotiated transactions. The timing and amounts of any purchases will be based on market conditions and other factors, such as price, in accordance with applicable laws. The program has no time limit, may be suspended, modified or discontinued at any time, and does not obligate OSG to purchase any particular amount of its common stock. The Company intends to fund the share repurchase program with excess cash.
About Overseas Shipholding Group, Inc
Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 23 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATB, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program, and one tanker in cold layup. In addition, OSG also owns and operates one Marshall Islands flagged MR tanker which trades internationally.
OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts should be considered forward-looking statements. Words such as “may”, “will”, “intends”, “plans” and similar expressions are intended to identify forward-looking statements but should not be considered as the only means by which these statements may be made. Such forward-looking statements represent the Company’s reasonable expectations with respect to future events or circumstances based on various factors and are subject to various risks, uncertainties, and assumptions relating to the Company’s operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Undue reliance should not be placed on any forward-looking statements and, when reviewing any forward-looking statements, consideration should be given to factors including, but not limited to, those factors discussed in the Company’s Annual Report on Form 10-K, filed with the SEC on March 9, 2022, and those factors discussed in the Company’s Quarterly Report on Form 10-Q, filed with the SEC on May 9, 2022. Investors should carefully consider these risk factors and the additional risk factors outlined in other reports hereafter filed by the Company with the SEC under the caption “Risk Factors.” The Company assumes no obligation to update or revise any forward-looking statements except as may be required by law. Forward-looking statements in this press release and written and oral forward-looking statements attributable to the Company or its representatives after the date of this press release are qualified in their entirety by the cautionary statement contained in this paragraph and in other reports hereafter filed by the Company with the SEC.
Investor Relations & Media Contact:
Susan Allan, Overseas Shipholding Group, Inc.
(813) 209-0620
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New dashboard highlights energy reductions and savings created by its Advanced LED lighting and lighting controls — totaling hundreds of millions of kilowatt-hours, millions of dollars, and more every day.
BOSTON--(BUSINESS WIRE)--Digital Lumens, Inc. is taking a very public step to show how its solutions reduce environmental impact by launching the Global SiteWorx® Savings Dashboard, which provides a real-time look at energy savings generated at customer facilities worldwide.
As of June 5, 2022 (UN World Environment Day), these savings included 358,136,946 kWh of electricity and $45,483,392 USD, which translates into 253,804 metric tons of CO2 emissions saved, 851.7 metric tons of N2O emissions saved, and 587,611 barrels of oil not consumed.
“Many companies claim that they’re helping the environment,” said Brian Bernstein, CEO of Digital Lumens, Inc. “But we're putting our metrics out where everyone can see them, offering powerful proof of the progress that our customers are making, thanks to our solutions.”
Expanding its solution portfolio to make facilities more sustainable
Bernstein points out that the dashboard only covers the impact of lighting and lighting controls. “At Digital Lumens, we started by focusing on reducing energy use with our intelligent lighting solutions,” he recalled. “In subsequent years, we've continued to expand our portfolio of SiteWorx Facility Insights solutions well beyond lighting, demonstrating our deep commitment to cleantech innovation — and helping our customers consume less energy, cut carbon, conserve resources, and hit their CO2 reduction targets. So the total savings are significantly higher.”
This pioneering work earned Digital Lumens seven years on Cleantech Group’s prestigious Global Cleantech 100 list and induction into the Hall of Fame in 2017.
Reducing environmental impact in key market sectors
Digital Lumens, Inc. also includes the Encelium brand, which focuses on reducing energy use by controlling and managing light in healthcare facilities, office buildings, educational institutions, and commercial properties.
For more than two decades, Encelium has been helping its customers make lighting — a major source of energy use — more efficient, reducing energy use dramatically. Encelium X, Encelium’s robust light management solution, helps reduce energy use with advanced, easy-to-use lighting controls.
Find out more about Digital Lumens, Inc’s cleantech innovation and leadership.
Digital Lumens, Inc. is a Skyview Capital Portfolio Company
Mark Sterns
DIGITAL LUMENS, INC.
Boston, Massachusetts
United States
Voice: 617-723-1200
E-Mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: https://digitallumensinc.com/
Follow Us: https://www.linkedin.com/company/digital-lumens-incorporated/
CANONSBURG, Pa.--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) today announced the early results of the previously announced tender offers (each, an Offer and, collectively, the Offers) by its wholly owned subsidiary, EQM Midstream Partners, LP (the Partnership), to purchase for cash its outstanding notes set forth in the table below (the Notes). In connection with the early tender results, ETRN hereby announces that the Partnership has amended the terms of the Offers to increase the maximum aggregate principal amount of the Notes it is offering to purchase in the Offers from $200 million to $500 million (as increased and amended, the Aggregate Maximum Principal Amount) with a cap on the 2025 Notes (as defined below) of $300 million in aggregate principal amount (the 2025 Cap).
The terms and conditions of the Offers are set forth in the Partnership’s Offer to Purchase, dated May 31, 2022 (as amended by this press release, the Offer to Purchase).
As of 5:00 p.m., New York City time, on June 13, 2022 (such time and date, the Early Tender Deadline), according to information provided by D.F. King & Co., Inc., the tender and information agent for the Offers, an aggregate principal amount of $474,507,000 of 6.000% notes due 2025 (the 2025 Notes) and $320,419,000 of 4.000% notes due 2024 (the 2024 Notes) had been validly tendered and not validly withdrawn in the Offers for such Notes. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on June 13, 2022.
Notes |
CUSIP Numbers |
Principal Amount
|
Acceptance
|
Tender
|
Early Tender
|
Total
|
|||||
6.000% notes due 2025..................... |
26885B AF7 U26886 AA6 |
$700,000,000 |
1 |
$1,000.00 |
$30.00 |
$1,030.00 |
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4.000% notes due 2024..................... |
26885B AA8 |
$500,000,000 |
2 |
$970.00 |
$30.00 |
$1,000.00 |
______________________ |
|
(1) |
Per $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase. |
(2) |
Excludes accrued interest, which will be paid on Notes accepted for purchase as described herein. |
(3) |
Includes the Early Tender Premium (as defined in the Offer to Purchase) for Notes validly tendered at or prior to the Early Tender Deadline (as defined above) (and not validly withdrawn) and accepted for purchase. |
Notes validly tendered and not validly withdrawn prior to the Early Tender Deadline will be accepted in accordance with the “Acceptance Priority Level” listed in the table above, subject to the Aggregate Maximum Principal Amount, the 2025 Cap and proration as further described in the Offer to Purchase. The Partnership expects to accept for purchase in the Offers an aggregate principal amount of $300 million of 2025 Notes and $200 million of 2024 Notes using a proration rate of approximately 63.3% for the 2025 Notes and approximately 62.6% for the 2024 Notes. Because the Aggregate Maximum Principal Amount and 2025 Cap have been fully subscribed as of the Early Tender Deadline, the Partnership does not anticipate accepting for purchase any Notes validly tendered after the Early Tender Deadline.
The applicable Total Consideration (as defined in the Offer to Purchase) for each $1,000 of principal amount of the Notes validly tendered and not validly withdrawn and accepted for purchase is set forth in the table above. Holders of the Notes who validly tendered and did not validly withdraw their Notes at or prior to the Early Tender Deadline are eligible to receive the applicable Total Consideration, which includes the Early Tender Premium for the Notes of $30 per $1,000 principal amount of Notes tendered. In addition, such Holders will also be entitled to receive accrued and unpaid interest, if any, from the last interest payment date for the Notes up to, but not including, the Early Settlement Date (as defined below).
It is anticipated that the settlement date for the Notes validly tendered and accepted for purchase will be June 14, 2022 (the Early Settlement Date).
BofA Securities, Inc. is acting as Dealer Manager and D.F. King & Co., Inc. is acting as the Tender Agent and Information Agent for the Offers. Requests for documents may be directed to D.F. King & Co., Inc. at (877) 783-5524, by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or on its website at www.dfking.com/eqm. Questions regarding the Offers may be directed to BofA Securities, Inc. collect at (980) 388-3646 or toll-free at (888) 292-0070.
This announcement is for informational purposes only and is not an offer to purchase or sell or a solicitation of an offer to purchase or sell, with respect to any securities, including in connection with the Offers. The Offers to purchase the Notes are only being made pursuant to the terms of the Offer to Purchase. The Offers are not being made in any state or jurisdiction in which such Offers would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. None of the Partnership, the Dealer Manager, or the Tender Agent and Information Agent is making any recommendation as to whether or not Holders should tender their Notes in connection with the Offers.
Cautionary Statement Regarding Forward-Looking Information
Disclosures in this news release contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of ETRN, as well as assumptions made by, and information currently available to, such management. Words such as “could,” “will,” “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” “target,” “outlook,” or “continue,” and similar expressions are used to identify forward-looking statements. These statements are subject to various risks and uncertainties, many of which are outside of ETRN’s control. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include statements relating to the tender offers, including the expected timing of the closing thereof. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from projected results.
Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. ETRN and the Partnership have based these forward-looking statements on current expectations and assumptions about future events. While ETRN and the Partnership consider these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, judicial and other risks and uncertainties, many of which are difficult to predict and are beyond ETRN’s and the Partnership’s control. The risks and uncertainties that may affect the operations, performance and results of ETRN’s and the Partnership’s business and forward-looking statements include, but are not limited to, those set forth in ETRN’s publicly filed reports with the Securities and Exchange Commission (the SEC), including those set forth under Item 1A, “Risk Factors” of ETRN’s Annual Report on Form 10-K for the year ended December 31, 2021 and ETRN’s subsequent filings.
Any forward-looking statement speaks only as of the date on which such statement is made, and ETRN does not intend to correct or update any forward-looking statement, unless required by securities laws, whether as a result of new information, future events or otherwise. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.
Source: Equitrans Midstream Corporation
Analyst/Investor inquiries:
Nate Tetlow — Vice President, Corporate Development and Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
Media inquiries:
Natalie A. Cox — Communications and Corporate Affairs
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TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a global subsea mineral exploration and development company, provided a corporate update.
“On Friday, we closed a registered direct offering of equity securities that will allow us to continue to deleverage our balance sheet while also providing capital for Odyssey’s ongoing operations through the next nine to 18 months, bridging us to anticipated significant cash flows. We expect this financing to carry Odyssey through a decision on our NAFTA arbitration and provide the cash to self-fund a portion of the NAFTA litigation,” stated Mark Gordon, Odyssey Chairman and Chief Executive Officer. “Additionally, the capital will provide for targeted investments in key mineral projects that will help power the Green Economy.”
The financing transaction provides approximately $15.0 million of net proceeds to Odyssey and provides the following benefits:
“The last time we completed a registered direct offering was 22 months ago. As forecasted, that transaction funded our operations through the completion of the NAFTA hearing, enabled us to expand our ownership in existing projects and invest in the development of new projects,” explained Gordon. “Since that last equity raise, we removed $12.5M in debt from the balance sheet, increased our equity in the ExO project from 53.5% to 56.3%, increased our equity in the Lihir project from 79.9% to 85.6%, assisted CIC in their successful exploration license application and added two new projects to our portfolio that are being primed for the offshore exploration phase. We believe that this latest transaction will allow us to continue to increase the value of our diversified mineral portfolio and deleverage our balance sheet, building additional stockholder value.”
About Odyssey Marine Exploration Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) is a deep-ocean exploration pioneer engaged in the discovery, validation and development of subsea mineral deposits in a socially and environmentally responsible manner. Odyssey’s growing project portfolio includes different mineral sets in various jurisdictions around the world. Odyssey also provides marine services for private clients and governments. For additional details, please visitwww.odysseymarine.com. An investor presentation is available in the Investors section of the website.
Forward Looking Information
Odyssey Marine Exploration believes the information set forth in this Press Release may include "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. Certain factors that could cause results to differ materially from those projected in the forward-looking statements are set forth in "Risk Factors" in Part I, Item 1A of the Company's Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the Securities and Exchange Commission on March 31, 2021. The financial and operating projections as well as estimates of mining assets are based solely on the assumptions developed by Odyssey that it believes are reasonable based upon information available to Odyssey as of the date of this release. All projections and estimates are subject to material uncertainties and should not be viewed as a prediction or an assurance of actual future performance. The validity and accuracy of Odyssey's projections will depend upon unpredictable future events, many of which are beyond Odyssey's control and, accordingly, no assurance can be given that Odyssey's assumptions will prove true or that its projected results will be achieved.
Cautionary Note to U.S. Investors
The U.S. Securities and Exchange Commission (SEC) permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "measured," "indicated," "inferred" and "resources," which the SEC guidelines strictly prohibit us from including in our filings with the SEC. "Inferred mineral resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. U.S. investors are cautioned not to assume that part or all of the inferred mineral resource exists, or is economically or legally mineable, and are urged to consider closely the disclosures in our Form 10-K which may be secured from us or from the SEC's website at http://www.sec.gov/edgar.shtml.
Laura Barton
Odyssey Marine Exploration, Inc.
(813) 876-1776 x 2562
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12 companies will present live on June 22, 2022 at the Blue Ocean for Startups event in Ashdod, showcasing innovation in the maritime industry.
ASHDOD, Israel--(BUSINESS WIRE)--500 Global, a leading global venture capital firm, and Ashdod Port Company (“Ashdod Port”), the national port of Israel, unveiled today 12 startups in Batch 1 of the Ashdod Port Accelerator by 500. They hail from Israel, with one startup based in Germany.
500 Global and Ashdod Port Company partnered in January 2022 to mentor startups and help them test and validate partnership opportunities with Ashdod Port. The Ashdod Port Accelerator by 500 program consisted of 12 weeks of masterclasses and dedicated coaching in areas such as business strategy, sales & marketing, and fundraising from 500 Global’s network of expert mentors. The program is followed by participation in an accelerated proof-of-concept for five to six months, with the potential for investment by Ashdod Port.
Program graduates in this first cohort are addressing solutions to issues in energy, logistics, seaport operations, and shipping. They will continue to work on their proof-of-concept at Ashdod Port through October, with the help of trained port personnel. On June 22, 2022, they will present their initiatives in Ashdod at the Blue Ocean for Startups event, which will also be streamed via webcast to a curated audience of industry leaders and ecosystem players.
This exclusive event features a panel of industry experts who will share insights into the role of startups in shaping innovation, as well as trends and investment opportunities in the maritime sector in Israel and around the world.
“Ashdod Port, The Port of Israel, is proud to be a leader in the innovation industry, providing beta sites for startups and supporting new technologies in the maritime sector. With a goal of being not only the biggest, but also the smartest port in Israel, Ashdod Port has set itself a goal to support innovation. We're proud of our relationship with 500 Global, and to offer one of the only accelerator programs that runs in a port. There is no doubt that the port will become a major player in the ecosystem soon. We are happy to host our Demo Day here at the port on June 22nd, and present to you how, in a short period of time, the program developed momentum and was able to promote the startups in a variety of ways–thanks to the program and the people from the port who accompany them,” said Roy Avrahami, CIO of Ashdod Port.
“Our Ashdod Port Accelerator by 500 is a truly unique initiative, thanks to our partner’s vision and belief that technology can play a central role in modernizing the maritime industry. As a result, Ashdod stands to serve as a model for other ports. Our first batch of startups has gained a solid foundation of corporate partnerships by working with Ashdod Port, and we believe they’re set up for success in Israel and beyond,” said Ee Ling Lim, Executive Director of Global Programs at 500 Global.
"The partnership between 500 Global and Ashdod Port is a groundbreaking collaboration to strengthen the port as a key player in the Israeli innovation ecosystem. The goal of the Ashdod Port Accelerator by 500 is to create a new generation of startups that are able to address the port’s pain points and also be attractive enough to be implemented in other ports around the world. In light of this unique partnership, we look forward to supporting and participating in the upcoming Demo Day that will take place on June 22, 2022,” said Tal Chen, Partner at Deloitte Israel, and Co-Leader of Deloitte Catalyst.
To attend the Blue Ocean for Startups event, please sign up here. Learn more about the event and startups presenting here.
About 500 Global
500 Global is a venture capital firm with $2.7B in assets under management that invests early in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. We work closely with key stakeholders and advise governments and corporations on how best to support entrepreneurial ecosystems so startups can thrive. 500 Global has backed over 5,000 founders representing more than 2,600 companies operating in 81 countries. Our portfolio includes 45 companies valued at over $1 billion and 130+ companies valued at over $100 million. Our 140+ plus team members are located in more than 20 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.
About Ashdod Port
Ashdod Port, The Port of Israel, is the leading seaport of the State of Israel with a strategically advantageous location. Experiencing growing demand, Ashdod Port has incorporated technological advancements into its operations and has inspired other ports around the world. Ashdod Port has collaborated with other institutions and ports to establish innovation embassies that promote growth within the industry. It frequently invests in new equipment and infrastructure for private and public benefit, and supports promising early stage entrepreneurs to bolster the maritime innovation ecosystem in Israel and globally.
Felicia Chiriac
Redhill
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+6596445927
LOS ANGELES--(BUSINESS WIRE)--Cal Solar Inc. has announced a formal launch of its EPC services (meaning Engineering, Procurement, and Construction) division to serve solar and energy development companies by leveraging its team of in-house engineers, estimators, and state-wide installation crews.
Cal Solar Inc. is able to serve customers effectively due to its in-house team of 10 engineers and in-house team of over 100 installers and field personnel throughout California. This enables Solar Developers & IPPs looking to go to one solar EPC for all of their California projects rather than select 2-3 regional EPCs to complete their projects.
Cal Solar Inc. is the largest provider of solar, energy storage, and EV charging to commercial, multifamily, and public works projects and has completed over 600 projects in over 140 different building departments and interconnected systems in over 13 electric service utilities in California.
CEO Sean Neman notes, “Our EPC services division is a natural extension of our existing business as we self-perform everything from initial design and engineering to installation and service. With local crews covering every sub-area of California, we can deliver on multi-site portfolios in a way other installers simply cannot."
The team is led by Aron Hauser, who has already begun serving some of the nation's largest distributed energy developers. Aron notes, “Because of the size of our self-perform crews, we’re able to dynamically schedule on a weekly basis and can mobilize for near-term projects on very little notice and deliver an exceptional experience. Whether it is a design-build or build-only project, we are in a unique position to be of service to the market.”
Aron Hauser
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619.322.7953
Michael Hull
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316.304.8664
PARIS--(BUSINESS WIRE)--#Everysens--Shippeo, a leading provider of global and multimodal shipment visibility, has partnered with Everysens, a leader in rail and intermodal transport management systems, to enhance their multimodal transport visibility offering. Everysens will provide Shippeo with the most reliable rail ETA available on the market, based on real-time data from satellite tracking and rail operators.
The two-way partnership allows Everysens to also benefit from Shippeo’s large network of road and ocean carriers, providing high quality shipment tracking data to rail and intermodal shippers and their customers. By sharing container events for ocean shipments, as well as highly accurate and reliable road freight ETAs, Everysens can better anticipate impacts on rail logistics.
In turn, Shippeo receives a stream of rail events from Everysens, including ETAs, GPS positions and loading statuses. Everysens provides ETAs for both full trains and single wagons; a unique capability within the market. The improved visibility across all types of rail transport will be available globally for Shippeo customers. In addition, Everysens covers the full transport process, including tendering, collaborative smart planning, freight letters and CO2 emissions.
By integrating their respective shipment ETAs, both companies are able to offer their customers improved end-to-end visibility in a single offering, creating new opportunities for supply chain convergence and benefitting shippers with a higher level of supply chain transparency and optimised logistics flows.
“As shippers face more and more supply chain challenges around the world as a result of disruptive global events, they want to know when their shipments will reach their final destination,” explains Lucien Besse, COO and Co-founder at Shippeo. “With sustainability playing an increasingly important role in transportation management, rail is becoming a popular means of intermodal transport. However, visibility over rail shipments has not been easy for shippers to achieve. The partnership between Shippeo and Everysens increases shippers’ trust in rail and multimodal deliveries, providing them with critical monitoring milestones, as well as the ability to measure and improve their processes.”
“Rail is already an important part of multimodal logistics. Effects of the EU Green Deal are quickly positioning rail further as the future of freight,” says Dr. Youness Lemrabet, CEO and Founder of Everysens. “The target is clear: 30% modal share for rail by 2030, with an estimated impact of 290 million tons of CO2 saved. To reach this, rail needs newcomers, for whom intermodal is the primary entry point. With this partnership, we can connect the dots between rail and first- and last-mile transport modes, to make modal shift truly happen.”
About Shippeo
Shippeo is a global leader in real-time multimodal transportation visibility, helping major shippers and logistics service providers operate more collaborative, automated, sustainable, profitable, and customer-centric supply chains with highly accurate, real-time operational visibility and perfect workflow orchestration. Their Multimodal Visibility Network integrates with more than 875 TMS, telematics and ELD systems, enabling Shippeo’s platform to provide instant access to real-time shipment tracking across all transport modes, in a single portal, through an intuitive user experience. A proprietary and industry-leading machine learning algorithm offers unmatched ETA accuracy, allowing supply chain companies to quickly anticipate problems, proactively alert customers, efficiently manage exceptions with collaborative workflows, and accurately measure CO2 and GHG emissions from supply chain transport. Hundreds of customers, including global brands like Coca-Cola HBC, Carrefour, Renault Group, Schneider Electric, Total, Faurecia, Saint-Gobain and Eckes Granini, trust Shippeo to track more than 28 million shipments per year across 75 countries. Learn more at www.shippeo.com
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About Everysens
Decarbonising transport, one train at a time. Everysens offers the first Transport Visibility & Management System (TVMS): a TMS specialised in the predictive planning of your rail and intermodal transport by integrating real-time visibility into your processes. This collaborative tool simplifies exchanges between the logistics operator, shippers, carriers and customers for a better execution of transport flows. Integrated with more than 40 rail operators and wagon rental companies, Everysens brings the whole rail and intermodal ecosystem to their industrial customers. Everysens is trusted by the largest chemical, cereals, steel and construction materials companies (among which Arkema, TotalEnergies, ArcelorMittal, HeidelbergCement, CRH) to empower their CO2 and modal shift strategies thanks to simpler rail processes.
Learn more at www.everysens.com
Press Contacts
Valérie DEMANNE
Product Marketing Manager
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Céline BONNIOT
Head of Field Marketing
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New Product Supports Corporate Decarbonization Initiatives and Automatically Generates Real-Time Impact Reports for ESG Requirements
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Enersponse, a leading distributed energy resource (DER) management provider, today announced Clean Response™, a first-to-market product that automates the reduction of energy consumption when the grid is “dirty” and the majority of power is being generated from non-renewable forms of energy like gas or coal. To help curb reliance on fossil fuels, Clean Response monitors the real-time carbon make-up of the grid and when CO2 percentages are high, Enersponse matches clients’ flexible loads with intelligent automation to avoid carbon intensive energy use based on their pre-determined and customized specifications.
“Clean Response has been developed in partnership with our Fortune 500 customers to help meet their corporate ESG requirements and contribute to our combined goal of establishing a net zero future,” explained James Muraca, chief technology officer at Enersponse. “Clean Response is complementary to utility Demand Response programs and helps speed up the grid's transition towards renewable forms of energy generation and stabilize volatility that can arise during extreme weather events, which have significantly increased due climate change.”
Enersponse’s platform connects to each site providing access to real-time data and effortlessly turns Clean Response energy reduction events into an impact statement that showcases how much CO2 has been avoided or reduced across their portfolio. Customers can compare the CO2 avoided during events by the equivalent number of passenger cars removed from the road for a year; pounds of burned coal; measure the carbon sequestered by the number of acres of new forests in the U.S. annually; and more. The impact statements provide an easier way to digest the information and takes ESG reporting to the next level.
Customers of all sizes can participate by logging into Enersponse’s user-friendly online platform that provides the ability to control and choose Clean Response event settings that match the needs of each of their individual sites. When the real-time carbon intensity of the grid is higher than acceptable, Enersponse’s algorithm automates power down preferences such as dimming lights and reducing HVAC temperatures at big-box retail stores, slowing down pumping at water and wastewater treatment plants or pausing deep freeze cycles at supermarkets.
“Introducing Clean Response to our portfolio further supports our commitment to creating automated, customer-friendly power conservation solutions and doing our part in combatting climate change,” concluded Muraca.
To learn more about Clean Response, visit: www.enersponse.com.
About Enersponse: Enersponse is an energy resource management platform that works with power providers across the country to aggregate their distributed energy resource (DER) and rebate programs with energy-using clients across the U.S. to maximize financial incentives by automating load reduction responses. This process helps providers maintain a stable grid; saves customers money and earns them passive income through rebates from utility; and helps achieve corporate social responsibility objectives. The company’s intelligent automation-powered distributed energy resource platform is connected to hundreds of power generators across North America, all dispatchable to customers’ existing control systems. Enersponse’s advanced technology keeps track of what’s happening down to a micro-locational level—even for large enterprises with facilities distributed across multiple power grid providers— by monitoring weather patterns, system outages and energy pricing fluctuations and then syncs data with pre-set client preferences to intelligently adjust power use in real-time without the need for human intervention. This means less stress on internal resources and an automated one-stop-shop solution for consolidating all available energy conservation programs to maximize cost savings—ultimately paying customers and their controls companies to save energy. Enersponse received a Bronze Stevie Award in Energy Innovation of the Year in 2019, Company of the Year in Energy in the 2020 International Business Awards, the Gold Stevie Award for Company of the Year in Energy in 2021 and most recently was awarded the Global Excellence Award’s 2022 Leading Innovator in Demand Response Solutions in California. Learn more about Enersponse at www.enersponse.com or follow via social media at @Enersponse.
MEDIA CONTACT: Leslie Licano, Beyond Fifteen Communications, Inc.
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TUCSON, Arizona--(BUSINESS WIRE)--#automotive--Sion Power Corporation (Sion Power), a leader in next-generation rechargeable batteries, released the results of an independent technical assessment of its Licerion® lithium-metal rechargeable battery technology for electric vehicle applications. The evaluation, prepared by independent battery expert Dr. Y. Shirley Meng, provides the first public review of the company’s proprietary process of the vapor-deposited lithium (VDLi) anode and analysis of Sion Power’s cathode, electrolyte, and battery pack strategy.
“What Sion Power is making is unique among next-generation battery companies. Their vapor deposited lithium process for creating an ultra-thin layer of lithium provides a way to cut costs and speed advanced batteries to the market,” says Dr. Meng. She goes on to say, “With a strong patent portfolio and a pressure control strategy to eliminate lithium dendrite formation, Sion Power could be an important driver in helping accelerate US domestic production of lithium metal batteries.”
Dr. Y. Shirley Meng is an internationally recognized expert in rechargeable batteries and has reviewed many next-generation technologies. Dr. Meng is a Professor of Molecular Engineering at the Pritzker School of Molecular Engineering and serves as the Chief Scientist of the Argonne Collaborative Center for Energy Storage Science (ACCESS) Argonne National Laboratory. She also is the Principal Investigator of the Laboratory for Energy Storage and Conversion (LESC) research group.
The full report is available on the Sion Power website.
About Sion Power
Sion Power advances the rechargeable battery industry with its Licerion® technology. Licerion® is an advanced approach to lithium-metal batteries containing twice the energy in the same size and weight battery, compared to a traditional lithium-ion battery. At up to 500 Wh/kg, Licerion batteries are produced at scale in large-format cells. As a result, Licerion® batteries have the potential to significantly enhance the performance of commercial and consumer electric vehicles. Sion Power is headquartered and operates in the United States. Visit Sion Power on the web at www.sionpower.com.
Angela Kliever
Dir., Marketing
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PAEONIAN SPRINGS, Va.--(BUSINESS WIRE)--#attitudeiseverything--Inertial Labs, developer of inertial navigation and measurement units has announced the release of Kernel-110,120, 210, 220 are a set of compact, self-contained strapdown industrial-grade (100-series) and tactical-grade (200-series) Inertial Measurement Units (IMU) that measure linear acceleration and angular rates with three-axis MEMS accelerometers and three-axis MEMS gyroscopes. Fully calibrated, temperature compensated, mathematically aligned to an orthogonal coordinate system, the Kernel-210 and 220 contain a 1 deg/hr bias in-run stability gyroscopes and 0.005 mg bias in-run stability accelerometers. The new Kernel 110,120 IMUs will be superseding Inertial Labs existing Kernel-100 IMU, whereas the Kernel 210,220 are a miniaturized version of the IMU-P Tactical unit.
The Kernel series of inertial measurement units are a fully integrated inertial solution which combines the newest MEMS sensors technology. This seamless integration allows Inertial Labs to provide an inertial system with top-of-the line performance while maintaining a high value price point. With its compact design and low power consumption, the Kernel IMUs easily integrate in a wide range of higher order systems while consuming very little space and power.
With continuous Built-in Test (BIT), configurable communications protocols, electromagnetic interference (EMI) protection, and flexible input power requirements, the Kernel-110,120,210,220 are built to be used in a wide variety of environments and integrated system applications. Units have been thoroughly tested to perform in large variations in temperature, high vibration, and shock. Designed to be used in air, marine, and land environments, the Kernel series can be integrated into Motion Reference Units (MRU), Attitude and Heading Reference Systems (AHRS), and GPS-Aided Inertial Navigation Systems (INS). As a result, the Kernel IMUs are ideal for a wide variety of applications such as autonomous vehicles, antenna and line of sight stabilizations systems, as well as buoy or boat motion monitoring.
“The new Kernel IMUs represent the innovative approach at Inertial Labs,” said Jamie Marraccini, President & CEO of Inertial Labs, “[the] high performance and the flexibility to integrate into different systems and applications is what we have striven to provide to our clients with the new Kernel IMU release.”
More on the Kernel-110,120: www.inertiallabs.com/kernel-datasheet
More on the Kernel-210,220: www.inertiallabs.com/kernel-2xx-datasheet
About Inertial Labs
Founded in 2001 and based in Northern Virginia, Inertial Labs is a trailblazer in navigation solutions and orientation technologies for land, air, and sea. A worldwide distributor network serves clients in the commercial/industrial and aerospace/defense applications.
For further information and specifications on the Inertial Labs products, please call +1-703-880-4222, e-mail This email address is being protected from spambots. You need JavaScript enabled to view it. or visit us on the Web: www.inertiallabs.com
Anton Barabashov
VP of Business Development
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Website: https://inertiallabs.com
TORONTO--(BUSINESS WIRE)--dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") announces the resignation of Ms. Rebecca Hudson and Mr. W. Clark Kent from the Board of Directors of the Company effective immediately. dynaCERT thanks Ms. Hudson and Mr. Kent for their services on the Board of Directors.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
The transportation and logistics leader recognized for sustainability efforts
GREEN BAY, Wis.--(BUSINESS WIRE)--Schneider (NYSE: SNDR), a premier multimodal provider of trucking, intermodal and logistics services, is pleased to announce the company has been honored as the PepsiCo Asset Sustainability Carrier of the Year 2021 by the international food and beverage company.
The award from PepsiCo recognizes Schneider’s more than 20 years of service and support in addition to the company’s sustainability commitments.
“We value our long relationship with PepsiCo,” said Schneider Senior Vice President and General Manager of Van Truckload John Bozec. “Being recognized for our service as well as our efforts to improve sustainability across the industry is a meaningful acknowledgment of the investments we make in our drivers, equipment and operations to constantly improve and reduce our impact on the environment. Both organizations have evolved and set ambitious goals to achieve in this area and we are on our way to those objectives.”
Schneider is committed to reducing emissions, with goals including reducing CO2 emissions 60% per mile and reaching carbon neutrality for all company-owned facilities by 2035. The company is also committed to the future of fleet electrification and increasing intermodal capacity to provide more lanes for sustainable transportation. Schneider also is a 12-time SmartWay Award of Excellence winner.
“Fleet decarbonization is critical to PepsiCo’s goal to achieve net zero emissions by 2040. That’s why we partner with transportation providers like Schneider who continue to make advancements in equipment and technology to drive better emissions,” said PepsiCo Vice President of Global Sustainability Roberta Barbieri. “With our scale, reach and the support of partners like Schneider, we can lead positive change at a systemic level, within and beyond our own value chain.”
As experts in the shipping industry, Schneider works with our customers to determine how transportation fits into their overarching emissions reduction goals, reviewing network optimization, reducing empty miles, consolidating freight and determining the right modes of transportation – whether dedicated, intermodal or utilizing multiple modes through Schneider Capacity StackingSM. Analytics-backed tools, such as Schneider’s FreightPower® digital platform, also help customers assess the most efficient transportation routes and modes.
Learn more about how Schneider is sustainably driving freight forward.
About Schneider
Schneider is a premier provider of transportation, intermodal and logistics services. Offering one of the broadest portfolios in the industry, Schneider’s solutions include Regional and Long-Haul Truckload, Expedited, Dedicated, Bulk, Intermodal, Brokerage, Warehousing, Supply Chain Management, Port Logistics and Logistics Consulting.
With $5.6 billion in annual revenue, Schneider has been safely delivering superior customer experiences and investing in innovation for over 85 years. The company’s digital marketplace, Schneider FreightPower®, is revolutionizing the industry giving shippers access to an expanded, highly flexible capacity network and provides carriers with unmatched access to quality drop-and-hook freight – Always Delivering, Always Ahead.
For more information about Schneider, visit Schneider.com or follow the company socially on Facebook, LinkedIn and Twitter: @WeAreSchneider.
Source: Schneider SNDR
Kara Leiterman, Media Relations Manager
M 920-370-7188
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TORONTO--(BUSINESS WIRE)--Greenland Resources Inc. (NEO:MOLY/FSE:M0LY) (“Greenland Resources” or the “Company”) is pleased to note the press release by the European Raw Materials Alliance (“ERMA”), reproduced and attached below. The Company is grateful to receive support from a body of the European Union whose main objectives are to reduce European dependency on strategic and critical raw materials from outside Europe and promote environmental, social and governance standards. Greenland Resources looks forward to working with ERMA as we move the Malmbjerg Molybdenum Project to commercial production.
BERLIN, 13 June - The European Raw Materials Alliance (ERMA) is pleased to announce that it will support Greenland Resources Inc. (NEO:MOLY/FSE:M0LY) in securing finance for the Malmbjerg Molybdenum Project and strengthening relationships with downstream molybdenum users in the EU industry ecosystem. Currently, Europe is the second-largest global molybdenum user but has no production of its own. The Malmbjerg Molybdenum Deposit will change that.
In the coming decades, the Green Energy transition will significantly increase the global demand for molybdenum, a critical material in the manufacture of clean renewable energy generation and storage technologies such as wind, geothermal, solar, nuclear, and hydro. The project is ideally suited for ERMA, whose main objectives are to reduce European dependency on strategic and critical raw materials from outside Europe and promote environmental, social and governance (ESG) standards.
Bernd Schäfer, CEO and Managing Director of EIT RawMaterials, which manages ERMA commented: “The Russian invasion of Ukraine has increased the urgency for Europe to transit to green energy. We need molybdenum that is produced to the highest of ESG standards possible to make that happen. Today we rely fully on external supply. We need reliable European production to guarantee the safety of our supply and the sustainability of our future.”
Located in east Greenland, a low-risk, responsible EU associate country, the Malmbjerg project has the potential to supply 23% of Europe’s total molybdenum demand for 20 years. Molybdenum is an important alloying element for steel production, increasing its corrosion resistance and high-temperature strength. This makes it a critical material for the steel-dependent industries in the EU, which represent close to 18% of the bloc’s GDP. Because of the few deleterious elements in the Malmbjerg ore body, it is an ideal source of clean molybdenum for the high-performance steel industry, which is led worldwide by Europe, specifically by Germany and the Scandinavian countries.
Dr. Ruben Shiffman, Executive Chairman of Greenland Resources, commented: “European steelmakers are world leaders in the production of high-performance steels, which enhance efficiency in power generation, transport, mobility, and construction. Stronger steel means lower product weight, less raw material consumption, less waste, and lower cost. The unique, high quality of the Malmbjerg ore, with low impurity content in phosphorus, tin, antimony, and arsenic, is crucial for the production of high-performance steel, the future of steel.”
The Malmbjerg project will secure a preferred supply chain option for the EU while prioritising the environment. The operation is focused on reducing its environmental footprint every step of the way, from mine design, processing, and shipping, to reclamation.
Dr. Shiffman said: “Malmbjerg has the potential to become the most environmentally friendly source of sustainable molybdenum in the world. The company’s unique mine design emphasises environmental protection with a low footprint due to modularised infrastructure; an aerial rope conveyor that produces no CO2 and generates its own power through regenerative braking; the use of recycled saltwater as process water means no pressure on freshwater supply, and the low aquatic disturbance by shipping concentrate to Europe up to three months a year.”
The project will also add important economic and social contributions to Greenland, with the potential to generate LOM corporate taxes of US$800 million (€750 million) as per the company’s NI 43-101 Definitive Feasibility Study recently published, as well as creating job security for local residents.
Massimo Gasparon, Director of ERMA said: “In terms of social impact, the project is expected to contribute very positively to the development of a remote region of east Greenland, thus opening opportunities for further activities. The project can significantly reduce unemployment in Greenland and help people obtain new life skills. The company has an excellent track record in social responsibility, having supported local communities and the development of local facilities and infrastructures.”
ENDS
Qualified Person Statement
The news release has been reviewed and approved by Mr. Jim Steel, P.Geo., M.B.A. a Qualified Person as defined by Canadian Securities Administrators National Instrument 43-101 “Standards of Disclosure for Mineral Projects”.
About the European Raw Materials Alliance (ERMA)
Metals, minerals, and advanced materials are the key enablers for a globally competitive, green, and digital Europe. The European Raw Materials Alliance (ERMA) contributes to ensuring reliable, secure, and sustainable access to raw materials. ERMA’s vision is to secure access to critical and strategic raw materials, advanced materials, and processing know-how for EU Industrial Ecosystems. The alliance brings together all relevant stakeholders, including industrial actors along the value chain, Member States and regions, trade unions, civil society, research and technology organisations, investors, and NGOs. ERMA is managed by EIT RawMaterials, a Knowledge and Innovation Community of the European Institute of Innovation and Technology (EIT), a body of the European Union. erma.eu
About Greenland Resources Inc.
Greenland Resources is a Canadian public company with the Ontario Securities Commission as its principal regulator and is focused on the development of its 100% owned, world-class, Climax-type pure molybdenum deposit located in central east Greenland. The Malmbjerg Molybdenum Project is a 20-year open pit operation with an environmentally friendly mine design focused on reduced CO2 emissions and water usage, with Proven and Probable Reserves of 245 million tonnes at 0.176% MoS2, for 571 million pounds of contained molybdenum metal. The Malmbjerg project benefits from a NI 43-101 Definitive Feasibility Study completed by Tetra Tech in 2022, which concluded an expected Base case after-tax IRR of 22.4%, NPV6% of US$1.17 billion (€1.02 billion) and a Levered pre-tax IRR of 40.4%, after-tax IRR of 33.8% and payback of 2.4 years. The project had a previous exploitation license granted in 2009. With offices in Toronto, the Company is led by a management team with an extensive track record in the mining industry and capital markets. For further details, please refer to our website (www.greenlandresources.ca) and our Canadian regulatory filings on Greenland Resources’ profile at www.sedar.com
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release contains "forward-looking information" (also referred to as "forward looking statements"), which relate to future events or future performance and reflect management’s current expectations and assumptions. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "hopes", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources and reserves, and their valuation, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions.
These forward-looking statements and information reflect the Company’s current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by the Company, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: our mineral reserve estimates and the assumptions upon which they are based, including geotechnical and metallurgical characteristics of rock confirming to sampled results and metallurgical performance; tonnage of ore to be mined and processed; ore grades and recoveries; assumptions and discount rates being appropriately applied to the technical studies; estimated valuation and probability of success of the Company’s projects, including the Malmbjerg molybdenum project; prices for molybdenum remaining as estimated; currency exchange rates remaining as estimated; availability of funds for the Company’s projects; capital decommissioning and reclamation estimates; mineral reserve and resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions; no unplanned delays or interruptions in scheduled construction and production; all necessary permits, licenses and regulatory approvals are received in a timely manner; and the ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive.
The Company cautions the reader that forward-looking statements and information include known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and the Company has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the projected and actual effects of the COVID-19 coronavirus on the factors relevant to the business of the Corporation, including the effect on supply chains, labour market, currency and commodity prices and global and Canadian capital markets, fluctuations in molybdenum and commodity prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the Canadian dollar versus the U.S. dollar versus the Euro); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structure formations, cave-ins, flooding and severe weather); inadequate insurance, or the inability to obtain insurance, to cover these risks and hazards; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in Greenland, including environmental, export and import laws and regulations; legal restrictions relating to mining; risks relating to expropriation; increased competition in the mining industry for equipment and qualified personnel; the availability of additional capital; title matters and the additional risks identified in our filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against undue reliance on forward-looking statements or information.
These forward-looking statements are made as of the date hereof and, except as required by applicable securities regulations, the Company does not intend, and does not assume any obligation, to update the forward-looking information. Neither the NEO Exchange Inc. nor its regulation services provider accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
For more information on ERMA, please contact:
EIT RawMaterials
Vanessa Lorenz, Head of Communications
E: This email address is being protected from spambots. You need JavaScript enabled to view it.
M: + 49 174 2714312
For more information on Greenland Resources Inc., please contact:
Ruben Shiffman, PhD Chairman, President
Keith Minty, P.Eng, MBA Engineering and Project Management
Jim Steel, P.Geo, MBA Exploration and Mining Geology
Nauja Bianco, M.Pol.Sci. Public and Community Relations
Gary Anstey Investor Relations
Eric Grossman, CPA, CGA Chief Financial Officer
Corporate office 25 York Street, Unit 1810 Toronto, ON M5J 2V5, Canada
Telephone +1 647 273 9913
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Web www.greenlandresources.ca
https://eitrawmaterials.eu/erma-supports-greenland-resources-in-development-of-the-malmbjerg-molybdenum-project-in-east-greenland/
Customers encouraged to stay safe and report outages by texting OUT to 26633 (COMED)
CHICAGO--(BUSINESS WIRE)--With high temperatures and thunderstorms forecasted across northern Illinois starting Monday afternoon, ComEd is proactively opening its Emergency Operations Center and getting equipment and additional crews in place to respond to potential power outages. The forecast includes storms with possible wind gusts up to 60-70 miles per hour starting Monday afternoon followed by high temperatures expected to reach the upper 90s on Tuesday and Wednesday. A heat advisory calls for heat index values between 105 and 109 degrees on both days.
Since it started smart grid investments in 2012, ComEd has avoided more than 17 million customer interruptions by installing digital “smart switches” that automatically reroute power around problem areas. ComEd executives appeared at the Illinois Commerce Commission’s summer preparedness session this morning to discuss ComEd’s record-breaking reliability, how it has prepared for summer storms, and its continued work to make the grid more resilient to climate change impacts.
When responding to power outages caused by storms, ComEd’s priority is to restore critical facilities such as police and fire stations, nursing homes and hospitals first, followed by restoring areas with the greatest number of customers. The company will further increase its focus on critical care facilities as they are more critical than ever during the COVID-19 pandemic.
Public safety is paramount, and ComEd encourages customers to take the following precautions:
ComEd urges customers to contact the company immediately if they experience a power outage. Customers can text OUT to 26633 (COMED) to report an outage and receive restoration information and can follow the company on Twitter @ComEd or on Facebook at Facebook.com/ComEd. Customers can also call 1-800 EDISON1 (1-800-334-7661), or report outages via the website at ComEd.com/report. Spanish-speaking customers should call 1-800-95-LUCES (1-800-955-8237).
ComEd’s mobile app for iPhone and Android® smart phones gives customers the ability to report power outages and manage their accounts; download the app at ComEd.com/app.
ComEd’s interactive outage map on its website at ComEd.com/map allows customers to easily find information on the location and size of outages and get estimated power restoration times.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd Media Relations
312-394-3500
CALGARY, Alberta--(BUSINESS WIRE)--Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced today the preliminary results of its substantial issuer bid (the “Offer”), pursuant to which Imperial offered to purchase for cancellation up to $2.5 billion of its common shares (the “Shares”). The Offer proceeded by way of a modified Dutch auction, which had a tender price range from $62.00 per Share to $78.00 per Share, and included the option for shareholders to participate via a proportionate tender. The Offer expired at 5:00 p.m. (Calgary time) on June 10, 2022. All amounts are in Canadian dollars.
In accordance with the terms and conditions of the Offer and based on the preliminary calculation of Computershare Investor Services Inc., as depositary for the Offer (the “Depositary”), Imperial expects to take up and pay for 32,467,532 Shares at a price of $77.00 per Share under the Offer (the “Purchase Price”), representing an aggregate purchase of approximately $2.5 billion and 4.9 percent of the total number of Imperial’s issued and outstanding Shares as of the close of business on May 2, 2022. Immediately following completion of the Offer, Imperial anticipates that 636,676,182 Shares will be issued and outstanding.
10,260,031 Shares were validly tendered and not withdrawn pursuant to auction tenders at or below the Purchase Price and pursuant to purchase price tenders. Since the Offer was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders will have the number of Shares purchased prorated following the determination of the final results of the Offer (other than “odd lot” tenders, which are not subject to proration). Imperial currently expects that shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders will have approximately 96 percent of their tendered Shares purchased by Imperial. Shareholders who made auction tenders at a price in excess of the Purchase Price should not expect to have any of their Shares purchased by Imperial. 22,599,766 Shares are anticipated to be taken up and purchased pursuant to proportionate tenders.
Exxon Mobil Corporation, Imperial’s majority shareholder, made a proportionate tender under the Offer and will maintain its proportionate Share ownership at approximately 69.6 percent following completion of the Offer.
The number of Shares to be purchased, the proration factor and the Purchase Price referred to above are preliminary, remain subject to verification by the Depositary and assume that all Shares tendered through notice of guaranteed delivery will be delivered within the two trading-day settlement period. Upon take-up and payment of the Shares purchased, Imperial will issue a press release disclosing the final results, including the final proration factor, the final Purchase Price, the estimated paid-up capital per Share and the “specified amount” for purposes of the Income Tax Act (Canada).
Promptly after such press release, payment for the Shares accepted for purchase will be made in accordance with the terms of the Offer and applicable law, and the Depositary will return all other Shares tendered and not purchased.
The full details of the Offer are described in the offer to purchase and issuer bid circular dated May 6, 2022, as amended on May 31, 2022 as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares.
Imperial is one of Canada’s largest integrated oil companies. It is active in all phases of the petroleum industry in Canada, including the exploration for, and production and sale of, crude oil and natural gas. In Canada, it is a major producer of crude oil, the largest petroleum refiner and a leading marketer of petroleum products. It is also a major producer of petrochemicals. The company’s operations are conducted in three main segments: Upstream, Downstream and Chemical.
Cautionary statement: Statements of future events or conditions in this release, including projections, expectations and estimates are forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, expect, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this release include, but are not limited to, references to the number of shares, the Purchase Price and the aggregate amount Imperial expects to pay on take up and payment of tendered shares in connection with the Offer; the number of Shares issued and outstanding following completion of the Offer; the anticipated proration due to oversubscription; expectations for shareholders who have made auction tenders at a price in excess of the Purchase Price; the number of Shares to be taken up and paid for pursuant to proportionate tenders; ExxonMobil’s anticipated holdings following completion of the Offer; further communication regarding completion of the Offer; the payment for Shares in accordance with the Offer; and the return of Shares not purchased.
Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual results, including expectations and assumptions concerning shares tendered through notice of guaranteed delivery will be delivered, the assumption that the conditions to completion of the Offer will be satisfied or waived, could differ materially depending on a number of factors. These factors include those discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial Oil Limited’s most recent annual report on Form 10-K and subsequent interim reports on Form 10-Q.
Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial Oil Limited. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.
After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.
Source: Imperial
Investor Relations
(587) 476-4743
Media Relations
(587) 476-7010
Training in Energy Efficiency, Electrification and Decarbonization Gives Architects, Engineers, Building Maintenance Professionals, HVAC Technicians and Others a Competitive Advantage
OAKLAND, Calif.--(BUSINESS WIRE)--With California’s burgeoning energy efficiency, electrification and decarbonization workforce expected to grow at least 8 percent in coming years, Pacific Gas and Electric Company (PG&E) is helping ensure current and future workers are ready to succeed.
Through PG&E Energy Training Centers, California clean energy workers and jobseekers can access more than 400 educational resources to help expand their technical skills.
Programs include live, online energy efficiency classes led by experts in fields such as architecture, construction, maintenance, and homebuilding. The courses provide training in new technology and practical skills architects, engineers, HVAC technicians and others can apply on their jobs immediately.
“We are proud to provide those who design, build and operate buildings in California with a broad range of no-cost, high-quality training experiences that will help them participate to their fullest potential in achieving California's climate goals, expand their skills and advance along their own career pathway,” said Angela McDonald, Workforce Education & Training Manager
New courses added this year expand training on the benefits of electrification and advanced electric technology such as pump water heating, induction cooking and heat pump space heating and cooling.
Anyone can sign up for a free online course by visiting the Energy Centers catalog of classes.
The Energy Centers also offer resources for K-12 school programs, training to obtain certifications, and a free tool lending library for specific projects.
For more information, please contact This email address is being protected from spambots. You need JavaScript enabled to view it..
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.
MEDIA RELATIONS:
415-973-5930
AUSTIN, Texas--(BUSINESS WIRE)--APsystems, the global leader in multi-platform solar MLPE devices, today announced it has moved its U.S. base of operations to Austin, Texas.
The new location, at 8701 North MoPac Expressway, Suite 160 in Austin, Texas, offers better proximity to customers nationwide and will serve as a central base of operations for APsystems’ U.S. business unit. Its previous location was in Seattle, Washington.
APsystems also welcomes experienced management executive Daniel Burke as Country Director for its U.S. business unit. Mr. Burke joins APsystems from Dalkia US, EDF Group, where he served as vice president of distributed generation sales and marketing. Prior to that, he held senior management roles at Aegis Energy Services, National Waste Associates, and Windsor Marketing Group. At APsystems, Mr. Burke will be responsible for U.S. top and bottom-line P&L, business operations management, organizational management and development, revenue and market share growth, and strategic alignment across all departments.
“While our success and growth in the U.S. has been strong, the solar market remains full of tremendous potential,” said Olivier Jacques, APsystems president of global business units and global executive vice-president. “The relocation of our U.S. main office to Austin, and the strategic hire of Daniel Burke, are foundational groundwork for the next stage of our growth and customer support in the U.S.”
APsystems continues to experience year-over-year growth in every major global market and recently passed the 2GW mark of installed capacity to date, and the 1-million-unit mark for RSD shipments under its APsmart brand. The firm will look to continue its growth trajectory with its newly introduced product line, the DS3 microinverter series, and its 3-phase offering, the QT2, arriving in the U.S. in Q3.
About APsystems
APsystems is a global, multinational solar power equipment manufacturer, encompassing 4 business units worldwide and serving customers in over 100 countries. Founded in Silicon Valley in 2010, APsystems has grown to be the #1 global multi-platform MLPE solution provider, offering microinverter and rapid shutdown devices for the global solar PV industry.
APsystems USA is located in Austin, Texas; APsystems EMEA is based in Rotterdam, Netherlands and Lyon, France (Branch); APsystems APAC is based in Jiaxing and Shanghai, China. APsystems also has locations in Guadalajara, Mexico and Sydney, Australia.
Learn more at www.APsystems.com.
Contact: Jason Higginson
Phone: (206) 774-8524
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