SAN DIEGO--(BUSINESS WIRE)--All roads will lead to America’s Finest City, San Diego, for the Fully Charged Live North America Clean Energy and Electric Vehicle Show, set for September 10th and 11th.
Fully Charged Live is a global event that promotes clean energy and electric vehicles hosted by actor, author, presenter and YouTube sensation, Robert Llewellyn. The event debuted in 2020 and attracted thousands of visitors to the Austin, Texas, venue. Following a two year break, the event touted as The World’s No. 1 Clean Energy and Electric Vehicle show is billed to be bigger and better than before. San Diego is the third stop on the roster of the world event that will kick off in the United Kingdom in April and then move on to Amsterdam.
At least 10,000 visitors are expected to flock Fully Charged Live in San Diego, which will be hosted at the San Diego Convention Center. The event will feature over 100 exhibitors showcasing the latest clean energy and almost every electric vehicle available. There will be electric test drives, mini mobility test track with hundreds of rides and drives for the entire family. The Clean Energy and Electric Vehicle festival will also feature Giga and Mega theaters with 40 live sessions led by inspiring experts, and home energy advice and more.
“We are very excited to bring our clean energy and sustainability event to San Diego,” said Robert Llewellyn. “With the high level of electric vehicle purchases here and skyrocketing energy costs, we know all of Southern California will enjoy the event.”
Director of North America, Kevin Leap, is excited about the event coming to the city. He said: “After two years of hiatus, Fully Charged Live is exactly what Southern California’s clean energy industry needs to keep the wheels turning. The city is looking forward to hosting this event and we welcome all the benefits that come along with it.”
For further information, visit: https://fullycharged.live/us.
Media contact: Kevin Leap
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
COPENHAGEN, Denmark--(BUSINESS WIRE)--Two pan-European projects have collaborated to bring zero emission hydrogen taxis and a new hydrogen refuelling station to the Danish capital city.
The ZEFER (Zero Emission taxi Fleets for European Rollout) and H2ME2 (Hydrogen Mobility Europe) projects, both funded by Europe’s Clean Hydrogen Partnership1, have deployed 100 hydrogen taxis in Copenhagen with app-based taxi company DRIVR. The Toyota Mirais run on green hydrogen from renewable energy, following the installation and opening of a new hydrogen refuelling station (HRS) in the city.
This latest deployment of taxis means the wider ZEFER project has achieved its full complement of 180 FCEVs in high-utilisation, captive fleets across Europe with deployments in three capital cities (Paris, London and Copenhagen). The taxi deployment in Copenhagen will complement 60 taxis previously deployed to Hype by STEP in Paris, and 60 other passenger cars in London deployed between private-hire firm Green Tomato Cars (50) and the Metropolitan Police (10).
To date the 120 vehicles operated under the ZEFER project have driven over 7 million kilometres fuelled only by hydrogen. This high mileage is achieved as the project deliberately targets the very long daily mileage applications which are most suitable to hydrogen vehicles. They have achieved this without major safety or reliability incidents and vehicle performance has been rated highly by drivers and fleet managers, with limited breakdowns or issues encountered relating directly to the hydrogen drivetrain.
The Danish government have targeted all taxis to be zero emission by 2030 and DRIVR won the public tender to deliver ad-hoc taxi services in the City of Copenhagen. The 100 new hydrogen taxis will complement DRIVR's existing low emission fleet, already comprising hybrid, electric and hydrogen vehicles.
“We are incredibly proud that DRIVR has been entrusted with the important task of helping the municipality of Copenhagen reach its environmental goals, and we’re very grateful for the cooperation with Toyota, which has enabled us to meet their needs with the new Toyota Mirai hydrogen cars.” said Haydar Shaiwandi, CEO DRIVR.
“While aiming to deploy its platform in 15 new cities by 2024, Hype believes that hydrogen is one of the most relevant solutions for intensive and random mobility and that the taxi market can play a key role in accelerating the adoption of hydrogen by professionals at scale. We are glad to see DRIVR ramping up the integration of hydrogen among its solutions. This demonstrates that, thanks to the support of programmes such as ZEFER, an increasing number of players are taking the hydrogen path. Early adopters will definitely have an advantage and leverage their experience moving forward.” said Mathieu Gardies, President of Hype.
- Ends -
Notes to Editor
1 previously Fuel Cell and Hydrogen 2 Joint Undertaking (FCH2 JU)
Declan Shepherd
This email address is being protected from spambots. You need JavaScript enabled to view it.
01509 642 500
Company collaborates with Asylum Hill Neighborhood Association to provide educational resources and raise awareness of pollinators’ role in urban ecosystem
HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford is partnering with Earthwatch, an international environmental organization, on a citizen-science project to document pollinators with the goal of understanding if key species are declining and how climate change may be affecting pollinator populations. One area of focus for the Global Pollinator Watch program is understanding the ecological health of the City of Hartford’s Asylum Hill neighborhood.
The Hartford is collaborating with the Asylum Hill Neighborhood Association (AHNA), which has planted pollinator gardens in the community. Asylum Hill residents will serve alongside The Hartford’s employees as they volunteer to document pollinators by uploading the images to the iNaturalist app as data points to be analyzed by Earthwatch researchers.
“The Hartford recognizes the importance of pollinators in preserving a healthy ecosystem, sustaining plant life and contributing to food production, and we are proud to do our part to increase awareness and share information resources,” said The Hartford’s Head of Sustainability, Karen Jarmoc. “The Hartford continues to be a leader in addressing the drivers of climate change, including those that affect the pollinator population and their host plants.”
Pollination is vital to the global biodiversity of plant life, ecosystem sustainability and food production. The majority of the world’s flowering plants depend on pollinators, such as bees, butterflies, moths, bats and birds. However, populations of pollinators are shrinking because of pesticides, loss of habitat, climate variability, diseases, parasites, pollution and other factors1.
“The Asylum Hill Neighborhood Association has a very active group of environmentalists who have planted several Pollinator Gardens in Asylum Hill,” said AHNA Executive Director David MacDonald. “AHNA is very grateful for the support of The Hartford with the Earthwatch program. It will help us engage more of The Hartford’s employees in projects to strengthen Asylum Hill's environmental sustainability and document the impact of our pollinator gardens.”
The pollinator program builds on a long-standing partnership between The Hartford and residents of Asylum Hill and the City of Hartford. In 2020, The Hartford commemorated its 100th year of being headquartered in Asylum Hill with a $10 million, 5-year commitment to address top priorities of residents and non-profits based on findings from The Hartford’s Asylum Hill Neighborhood Survey. Respondents said the three most critical needs were housing stability, job readiness and greater public safety. Last year, The Hartford announced a $1 million grant to a housing initiative led by Northside Institutions Neighborhood Alliance (NINA), to make homeownership more accessible in Hartford’s Asylum Hill Neighborhood.
“Earthwatch is so pleased to be partnering with The Hartford on our Global Pollinator Watch program,” said Earthwatch’s Director of Research, Dr. Stan Rullman. “The Hartford’s employees will play a critical role in collecting pollinator data to help us better understand the health of pollinator communities, while identifying areas where pollinators could benefit from supportive interventions.”
About Earthwatch
Earthwatch is an international nonprofit organization that connects people with scientists worldwide to conduct environmental research and empowers them with the knowledge they need to conserve the planet. Since its founding in 1971, Earthwatch has been taking action to address global change through a time-tested model of citizen science and community engagement. By pairing individuals from all sectors of society with researchers around the world, Earthwatch teams have helped to safeguard critical habitats, conserve biodiversity, and promote the sustainable use of natural resources. For more information, visit Earthwatch.org.
About Asylum Hill Neighborhood Association
Formed in 1997, the Asylum Hill Neighborhood Association is the Neighborhood Revitalization Zone for the historic Asylum Hill neighborhood of Hartford. AHNA is resident-led with strong collaboration from our stakeholders in the community. The mission of AHNA is to empower and connect residents and stakeholders to improve the quality of life in Asylum Hill. AHNA’s recently adopted ten-year Strategic Plan sets out a bold vision of what Asylum Hill can become in the future.
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.
HIG-C
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2021 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
From time to time, The Hartford may use its website and/or social media outlets, such as Twitter and Facebook, to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.
1 U.S. Department of Agriculture – Pollinators at a Crossroads, July 2021
Media Contacts for The Hartford:
Gillian Bromfield
860-547-7845
This email address is being protected from spambots. You need JavaScript enabled to view it.
Matthew Sturdevant
860-547-8664
This email address is being protected from spambots. You need JavaScript enabled to view it.
Earthwatch Media Contact:
Alexandra Morris
978-450-1206
This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Group II & III Base Oil Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global group II & III base oil market is expected to reach USD 29.8 billion by 2027, growing at a CAGR of 6.7%.
The report considers the present scenario of the group II & III base oil market and its market dynamics for 2022-2027. It covers a detailed overview of several market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyses leading companies and several other prominent companies operating in the market.
KEY HIGHLIGHTS
Globally, the market for group II & III base oil is intensifying due to the need for low sulfur content, low viscosity, and a higher saturation of chemical bonds that are effective in meeting the current market trends of reducing carbon footprint and improving fuel economy.
In addition, stringent vehicle emission standards and high demand for lubricants are fuelling the market growth in recent years.
API group II base oil is in a dominant phase while group III base oil is in the evolving phase and is primarily used in high-performance engines.
GLOBAL GROUP II & III BASE OIL MARKET SEGMENTATION
From the technology perspective, hydrocracking is the dominant market segment.
From the application perspective, automotive oil is the dominant segment as it consumes the major chunk of group II & III base oil, followed by industrial oil, process oil, and others.
GEOGRAPHICAL ANALYSIS
By 2027, APAC is expected to surpass North America in terms of group II & III base oil product revenue to become the leading group II & III base oil market globally. The market in APAC is predicted to witness the fastest growth during the forecast period with a CAGR of 7.47%, generating additional revenue of $5,778.03 million by 2027.
In APAC, China, India, and Japan are the major consumers of group II & III base oil. Increasing GDP along with the growth of the automotive & transportation industry, and power generation activities has increased the demand for group II & III base oil.
VENDOR LANDSCAPE
The international players have been adopting an inorganic strategy to expand their footprint in the global market. It primarily involves mergers and acquisitions, expansion, and launching innovative products to strengthen their market position which significantly induces competition in the market.
Mergers and acquisitions primarily benefit the companies by enabling better access to raw materials, production and distribution facilities, and R&D capabilities.
Key Vendors
Other Prominent Vendors
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the Study
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Supply Chain Analysis
7.2.1 Crude Oil Refining/Manufacturing
7.2.2 Suppliers/ Distributors
7.2.3 Applications
7.3 Regulations & Standards
7.4 Impact of Covid-19
7.4.1 Supply Side
7.4.2 Demand Side
8 Frequently Asked Questions
8.1 How Will the Group Ii & Iii Base Oil Market Perform in the Coming Years?
8.2 What Are the Major Factors Driving the Demand for Group II & III Base Oil?
8.3 Which is the Most Profitable and Preferred Group I & II Base Oil Technology?
8.4 Which Application Segment Generates the Highest Revenue for the Group II & III Base Oil Market
8.5 Which is the Fastest-Growing Region for Group I & II Base Oil?
8.6 Which Are the Major Players Operating in the Group II & III Base Oil Market?
9 Growth Opportunity
9.1 Technology
9.2 Application
9.3 Geography
10 Market Opportunities & Trends
10.1 Increasing Demand for Imo-Compliant Marine Fuel
10.2 Increasing Group Ii & Iii Refining Capacity
11 Market Growth Enablers
11.1 Increasing Demand for Bio-Based Lubricants
11.2 Increased Use of Premium Base Oil in Apac
11.3 Increasing Disposable Income
12 Market Restraints
12.1 Electric Vehicles Hampering Growth of Conventional Lubricants
12.2 Volatility in Crude Oil Prices
13 Market Landscape
13.1 Market Overview
13.2 Market Size & Forecast
13.2.1 Volume and Value
13.3 Five Forces Analysis
14 Technology
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Catalytic Dewaxing
14.4 Hydrocracking
14.5 Hydrotreating
14.6 Others
15 Application
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Automotive Oil
15.4 Industrial Oil
15.5 Process Oil
15.6 Others
16 Geography
16.1 Market Snapshot & Growth Engine (Value)
16.2 Market Snapshot & Growth Engine (Volume)
16.3 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/bylqj7
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Agreements are part of company’s sustainability and energy conservation initiative
MATTOON, Ill.--(BUSINESS WIRE)--Consolidated Communications (NASDAQ: CNSL), a top 10 fiber provider, today announced the signing of its first two community solar agreements. The use of climate-friendly energy is an important part of the Company’s growing sustainability efforts and helps ensure its continued stewardship of the environment.
When businesses, organizations or individuals subscribe to solar farms, the clean energy produced is fed directly to the utility grid, generating credits on subscribers’ electric bills for the value of the energy generated by their share of the farm. Community solar also benefits local economies by creating jobs, increasing tax revenues and generating income to support landowners.
Following conversations with multiple community solar developers across the company’s service area, Consolidated signed long-term agreements in Maine and Minnesota. The commitments, arranged with assistance from Insight Energy, increase the availability of clean power and help address climate change efforts.
In Maine, Consolidated is subscribed to 5.3 MW of solar capacity located in Versant Power. Its subscription is expected to generate approximately 6,470,335 kWh annually, enough to power 603 average U.S. households for a year,1 and will be supported by 409 company properties in the state.
In Minnesota, Consolidated is participating in the Solar*Rewards Community Program, the nation’s largest community solar program, administered by Xcel Energy. The company is subscribed to eight local solar gardens for nearly 2.6 MW of solar capacity, which is expected to generate approximately 3,092,466 kWh annually. This is enough to power 288 average U.S. households for a year.2
The energy generated from the two subscriptions is the equivalent of greenhouse gas emissions from nearly 763,000 gallons of gasoline consumed.3
“These commitments represent an important step in our journey to continue building a robust, sustainable business while reducing our environmental footprint,” said Bob Udell, Consolidated’s president and chief executive officer.
This year, the company is undertaking a more formalized study of its emissions footprint, beginning with the establishment of a Scope 2 emissions baseline. This baseline will help Consolidated measure and work toward reducing its overall Scope 2 emissions through future initiatives and programs.
The company has also embarked on a project to upgrade lighting to LED across more than 400 locations, as well as a range of other energy conservation measures to improve efficiency and drive further operational emission reductions. It is also establishing critical environmental goals around water consumption and waste, reuse and recycling programs -- key areas within its everyday operations.
“At Consolidated, we’re working hard to sustainably deliver the critical broadband infrastructure our customers and communities rely on,” said Eric Dunmire, senior director of facilities at Consolidated Communications. “These agreements allow Consolidated to contribute to cleaner energy for our communities and protect our environment in a cost-competitive way.”
More information on the company’s environmental commitment and goals, notable accomplishments and progress on important initiatives is available at consolidated.com/esg.
About Consolidated Communications
Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) is dedicated to moving people, businesses and communities forward by delivering the latest reliable communications solutions. Consumers, businesses and wireless and wireline carriers depend on Consolidated for a wide range of high-speed internet, data, phone, security, cloud and wholesale carrier solutions. With a network spanning more than 50,000 fiber route miles, Consolidated is a top 10 U.S. fiber provider, turning technology into solutions that are backed by exceptional customer support. Learn more at consolidated.com. Connect with us on social media.
1 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3
2 https://www.eia.gov/tools/faqs/faq.php?id=97&t=3
3 Calculation derived from the Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator - https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
Jennifer Spaude, Consolidated Communications
507.386.3765, This email address is being protected from spambots. You need JavaScript enabled to view it.
Shannon Sullivan, Consolidated Communications
603.656.1521, This email address is being protected from spambots. You need JavaScript enabled to view it.
Milestone Strategic Partnership to Create a Closed-Loop Ecosystem for Key Materials in the Lithium-ion Battery Supply Chain in North America
LG Energy Solution and LG Chem Officially Recognize Li-Cycle as their Preferred Lithium-ion Battery Recycling Partner in North America; Continuing to Jointly Explore Additional Opportunities Globally
Li-Cycle to Supply LG Chem and LG Energy Solution with 20,000 Tonnes of Nickel over 10 Years, Enough to Power Approximately 300,000 High-Performing EVs
LG Energy Solution to Provide Li-Cycle Nickel-bearing Battery Manufacturing Scrap for Recycling over 10 Years
LG Chem and LG Energy Solution to Proceed with Investment in Li-Cycle Common Shares
TORONTO--(BUSINESS WIRE)--Li-Cycle Holdings Corp. (NYSE: LICY) (“Li-Cycle” or the “Company”), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced that it has completed commercial agreements with LG Energy Solution, Ltd. (LGES; KRX: 373220) for the supply of manufacturing scrap for recycling and with each of LGES and LG Chem, Ltd. (“LGC”) for the sale of nickel sulphate from Li-Cycle’s Rochester Hub. With the execution of these agreements, LGC and LGES will now proceed to close the previously announced $50 million investment to purchase common shares (“Common Shares”) of Li-Cycle.
LGC, LGES and Li-Cycle held a signing ceremony on Thursday, April 21, marking the completion of the commercial agreements. In connection with the commercial arrangements, LGES and LGC have officially recognized Li-Cycle as their preferred lithium-ion battery recycling partner in North America. LGES, LGC and Li-Cycle continue to explore additional opportunities globally.
“We’re thrilled to advance our collaboration with LGC and LGES, two global industry leaders in the EV supply chain,” said Ajay Kochhar, co-founder and Chief Executive Officer of Li-Cycle. “Together, we are driving sustainable global electrification through the creation of this milestone closed-loop ecosystem in the lithium-ion battery supply chain.”
Li-Cycle, LGC, and LGES have entered into these strategic arrangements to help support the growing global market demand for lithium-ion batteries and their critical materials. The partnership will enable a closed-loop ecosystem for LGC and LGES for key materials in the lithium-ion battery supply chain and will provide further capital to Li-Cycle for its continued global expansion.
Completion of Commercial Agreements
Nickel is a key component for the production of lithium-ion batteries. Through a North America Scrap 10-year Offer Agreement, Li-Cycle will have the opportunity to recycle nickel-bearing lithium-ion battery scrap and other lithium-ion battery material from LGES’s North America manufacturing sites. Additionally, under 10-year Nickel Sulphate Off-Take Agreements with each of LGC and LGES, Li-Cycle will sell a combined initial allocation of 20,000 tonnes of nickel contained in nickel sulphate produced at Li-Cycle’s Hub facility currently under construction in Rochester, New York to LGC and LGES, through its off-take partner, Traxys North America LLC. Li-Cycle estimates that the nickel sulphate to be sold to LGC and LGES under these arrangements will be enough to produce lithium-ion batteries that can power approximately 300,000 high-performing EVs.
Execution of Investment in Li-Cycle Common Shares
Under the terms of the Subscription Agreements with LGC and LGES previously announced on December 14, 2021, and as amended and restated on April 21, 2022, LGC and LGES will each subscribe for an equal number of Common Shares of Li-Cycle, for an aggregate investment in the Company of $50 million (the “Investment”). The Investment will be split into two tranches: (i) an initial tranche of 4,416,960 Common Shares, in the aggregate, at a price of $10.00 per share (for an aggregate initial tranche subscription of approximately $44.2 million), and (ii) a second tranche of Common Shares having an aggregate value of approximately $5.8 million, based on the volume-weighted average trading price of Li-Cycle’s Common Shares for the 5-trading days ending immediately prior to April 29, 2022. The Investment is expected to be completed in full by May 13, 2022.
Additional information regarding this announcement may be found in a Form 6-K that will be filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission.
About Li-Cycle Holdings Corp.
Li-Cycle (NYSE: LICY) is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.
About LG Chem
LG Chem is a leading global chemical company with a diversified business portfolio in the key areas of petrochemicals, advanced materials, and life sciences. The company manufactures a wide range of products from high-value added petrochemicals to renewable plastics, specializing in cutting-edge electronic and battery materials, as well as drugs and vaccines to deliver differentiated solutions for its customers. LG Chem is committed to reaching carbon-neutral growth by 2030 and net-zero emissions by 2050 by managing the impacts of climate change and making positive contributions to society through renewable energy and responsible supply chains. Headquartered in Seoul, Korea, LG Chem has multiple operation sites worldwide and generated KRW 42.7 trillion (USD 37.3 billion) in sales in 2021. For more information, please visit www.lgchem.com.
About LG Energy Solution
LG Energy Solution (KRX: 373220) is a global leader delivering advanced lithium-ion batteries for Electric Vehicles (EV), Mobility & IT applications, and Energy Storage Systems (ESS). With 30 years of experience in advanced battery technology, it continues to grow rapidly towards the realization of sustainable life. With its robust global network that spans the US, Europe, Asia, and Australia, LG Energy Solution is more committed than ever to developing innovative technologies that will bring the future energy a step closer. Under its ESG vision "We CHARGE toward a better future," LG Energy Solution is doing its utmost to prioritize environment, fulfil social responsibilities and shape sustainable future. For more information, please visit https://www.lgensol.com.
Forward-Looking Statements
Certain statements contained in this communication may be considered “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the U.S. Securities Act of 1933, as amended, Section 21 of the U.S. Securities Exchange Act of 1934, as amended, and applicable Canadian securities laws. Forward-looking statements may generally be identified by the use of words such as “will”, “continue”, “anticipate”, “expect”, “estimate”, “potential”, “future”, “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, although not all forward-looking statements contain such identifying words. Forward-looking statements in this press release include, for example, statements about the expected closing of the subscription for Common Shares by LGC and LGES, the future financial performance of Li-Cycle and the anticipated benefits from the proposed collaboration with LGC and LGES, the growing global market demand for lithium-ion batteries and their raw material; the future financial performance of Li-Cycle and the development of the Rochester Hub. These statements are based on various assumptions, whether or not identified in this communication, which Li-Cycle believe are reasonable in the circumstances. There can be no assurance that such estimates or assumptions will prove to be correct and, as a result, actual results or events may differ materially from expectations expressed in or implied by the forward-looking statements.
These forward-looking statements are provided for the purpose of assisting readers in understanding certain key elements of Li-Cycle’s current objectives, goals, targets, strategic priorities, expectations and plans, and in obtaining a better understanding of Li-Cycle’s business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes and is not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability.
Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Li-Cycle, and are not guarantees of future performance. Li-Cycle believes that these risks and uncertainties include, but are not limited to, the following: Li-Cycle’s inability to economically and efficiently source, recover and recycle lithium-ion batteries and lithium-ion battery manufacturing scrap, as well as third party black mass, and to meet the market demand for an environmentally sound, closed-loop solution for manufacturing waste and end-of-life lithium-ion batteries; Li-Cycle’s inability to successfully implement its global growth strategy, on a timely basis or at all; Li-Cycle’s inability to manage future global growth effectively; Li-Cycle’s inability to develop the Rochester Hub and its Spoke capital projects in a timely manner or on budget, or that those capital projects will not meet expectations with respect to their productivity or the specifications of their end products; Li-Cycle’s failure to materially increase recycling capacity and efficiency; Li-Cycle may engage in strategic transactions, including acquisitions, that could disrupt its business, cause dilution to its shareholders, reduce its financial resources, result in incurrence of debt, or prove not to be successful; risks related to international expansion; one or more of Li-Cycle’s current or future facilities becoming inoperative, capacity constrained or if its operations are disrupted; additional funds required to meet Li-Cycle’s capital requirements in the future not being available to Li-Cycle on commercially reasonable terms or at all when it needs them; Li-Cycle expects to incur significant expenses and may not achieve or sustain profitability; problems with the handling of lithium-ion battery cells that result in less usage of lithium-ion batteries or affect Li-Cycle’s operations; Li-Cycle’s inability to maintain and increase feedstock supply commitments as well as securing new customers and off-take agreements; a decline in the adoption rate of EVs, or a decline in the support by governments for “green” energy technologies; decreases in benchmark prices for the metals contained in Li-Cycle’s products; changes in the volume or composition of feedstock materials processed at Li-Cycle’s facilities; the development of an alternative chemical make-up of lithium-ion batteries or battery alternatives; Li-Cycle’s revenues for the Rochester Hub are derived significantly from a single customer; Li-Cycle’s insurance may not cover all liabilities and damages; Li-Cycle’s heavy reliance on the experience and expertise of its management; Li-Cycle’s reliance on third-party consultants for its regulatory compliance; Li-Cycle’s inability to complete its recycling processes as quickly as customers may require; Li-Cycle being subject to the risk of litigation or regulatory proceedings; Li-Cycle’s inability to compete successfully; increases in income tax rates, changes in income tax laws or disagreements with tax authorities; significant variance in Li-Cycle’s operating and financial results from period to period due to fluctuations in its operating costs and other factors; fluctuations in foreign currency exchange rates which could result in declines in reported sales and net earnings; unfavourable economic conditions, such as consequences of the global COVID-19 pandemic; natural disasters, unusually adverse weather, epidemic or pandemic outbreaks, cyber incidents, boycotts and geo-political events; failure to protect or enforce Li-Cycle’s intellectual property; Li-Cycle may be subject to intellectual property rights claims by third parties; Li-Cycle’s failure to effectively remediate the material weaknesses in its internal control over financial reporting that it has identified or if it fails to develop and maintain a proper and effective internal control over financial reporting. These and other risks and uncertainties related to Li-Cycle’s business are described in greater detail in the section entitled "Risk Factors" in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission and the Ontario Securities Commission in Canada on January 31, 2022. Because of these risks, uncertainties and assumptions, readers should not place undue reliance on these forward-looking statements. Actual results could differ materially from those contained in any forward-looking statement.
Li-Cycle Holdings Corp.
Investor Relations
Nahla A. Azmy
This email address is being protected from spambots. You need JavaScript enabled to view it.
Press
Sarah Miller
This email address is being protected from spambots. You need JavaScript enabled to view it.
LG Chem
Sangkyu Choi
Communications Team / LG Chem
This email address is being protected from spambots. You need JavaScript enabled to view it.
+82 2 3773 7869
LG Energy Solution
Ashlee Shin
Global Communications Team / LG Energy Solution
This email address is being protected from spambots. You need JavaScript enabled to view it.
+82 2 3773 4381
SANTA CRUZ, Calif.--(BUSINESS WIRE)--Joby Aviation, Inc. (NYSE: JOBY), a California-based company developing all-electric aircraft for commercial passenger service, today announced that it will release its first quarter 2022 earnings results after the market close on Thursday, May 12, 2022. Management will discuss the results on a conference call at 5:00 pm ET on Thursday, May 12, 2022. The webcast will be publicly available in the Upcoming Events section of the company website (www.jobyaviation.com). To listen by phone, please dial 1-877-407-3982 or 1-201-493-6780. A replay of the call will be available until midnight, Thursday, May 26, 2022, by dialing 1-844-512-2921 or 1-412-317-6671 and entering passcode 13728914.
About Joby Aviation
Joby Aviation, Inc. (NYSE: JOBY) is a California-headquartered transportation company developing an all-electric vertical take-off and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which has a maximum range of 150 miles (241 kilometers) on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph (321 km/h). It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 1,000 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington, D.C. and Munich, Germany. To learn more, visit www.jobyaviation.com.
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the development and performance of Joby’s aircraft and its regulatory outlook, progress and timing. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially including: Joby’s ability to launch its aerial ridesharing service and the growth of the urban air mobility market generally; Joby’s ability to produce aircraft that meet its performance expectations in the volumes and on the timelines that it projects, Joby’s ability to launch a commercial passenger service beginning in 2024, as currently projected; the competitive environment in which it operates; its future capital needs; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards relating to its aircraft; its reliance on a third-party suppliers and service partners; uncertainties related to Joby’s estimates of the size of the market for its service and future revenue opportunities; and other important factors discussed in the section titled “Risk Factors” in its Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2022, and in other reports it files with or furnishes to the SEC. Any such forward-looking statements represent management’s estimates and beliefs as of the date of this press release. While Joby may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, even if subsequent events cause its views to change.
Investors:
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1-831-201-6006
Media:
This email address is being protected from spambots. You need JavaScript enabled to view it.
LONDON--(BUSINESS WIRE)--#GridbeyondAustralia--GridBeyond, the world’s leading technology player for managing distributed and flexible energy resources is expanding its geographic reach to provide services to Australia.
GridBeyond will provide AI-powered demand response, virtual power plant (VPP) services and generation and storage asset optimisation across Australia’s National Electricity Market. Using artificial intelligence and data science, the company’s technology solution will allow its C&I customers to participate both in grid services for balancing the grid and in wholesale markets through their energy generation, storage and industrial load. Combining solvers, market access, and automatic trading in one place this empowers C&I businesses, EV fleet operators, generators, and energy storage operators to maximise revenues and savings.
GridBeyond Senior Business Development Manager Diogo Cabral said:
“Australia is a market with very strong fundamentals for the long-term success of demand flexibility services where electricity consumers value highly any services that protect them against market prices’ high volatility creating increased cost savings and additional revenues through optimisation tools and robotic trading and by optimising the combination of different types of assets they have (solar, storage, demand assets); and/or by simply running consumption profiles’ optimisations through AI and by participating in attractive grid services like the FCAS (frequency response) market.
“At the moment with the increasing number of extreme weather events per year, there is a strong political shift away from fossil fuels and towards renewable energy, which strengthens the business case for demand flexibility in Australia. With the help of GridBeyond, C&I businesses can become a strong support in providing valuable grid services through demand response, to allow the continuous and sustainable growth of renewable energy and support the country towards its net zero targets.”
Following successful operations in the UK, Ireland, USA, and Japan, from April 2022, the company’s globally recognised and award-winning technology platform will be available for businesses in Australia’s National Electricity Market.
GridBeyond, already delivers distributed and flexible energy resources management, energy trading, price and energy optimisation, enhanced savings, strengthened operations and sustainability to over 400 sites worldwide, including some of the planet’s best-loved brands.
GridBeyond CEO Michael Phelan said:
“The entry of GridBeyond in the Australian Energy Market is further recognition of GridBeyond’s energy expertise. Operating in the VPP & DERMS market that is planned to grow at a CAGR of 20% by 2026, GridBeyond is strongly positioned to continue the significant growth we have seen and to continue to support businesses, asset owners and grid operators throughout the transition to a net zero future and beyond. The FCAS (frequency response) market in Australia is very similar to the ones we manage in Ireland, so we are bringing unparalleled expertise to Australian businesses to manage their flexible energy resources and co-optimise them with wholesale trading. Our microgrid controls that integrate EVs are also a good fit for Australia’s energy market need.”
-End-
Gabriella Di Salvo
This email address is being protected from spambots. You need JavaScript enabled to view it.
t: 07918 359693
HOUSTON--(BUSINESS WIRE)--Archaea Energy Inc. (“Archaea”) (NYSE: LFG) announced today that it plans to issue its earnings release with respect to first quarter 2022 financial results on Tuesday, May 10, 2022 before the market opens. Archaea will host a conference call for investors and analysts at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Tuesday, May 10, 2022 to discuss first quarter results.
A listen-only webcast of the call and accompanying slide presentation will be available on Archaea’s website at www.archaeaenergy.com. After completion of the webcast, a replay will be available for 12 months on Archaea’s website.
ABOUT ARCHAEA
Archaea Energy Inc. is one of the largest RNG producers in the U.S., with an industry-leading platform and expertise in developing, constructing, and operating RNG facilities to capture waste emissions and convert them into low carbon fuel. Archaea’s innovative, technology-driven approach is backed by significant gas processing expertise, enabling Archaea to deliver RNG projects that are expected to have higher uptime and efficiency, faster project timelines, and lower development costs. Archaea partners with landfill and farm owners to help them transform potential sources of emissions into RNG, transforming their facilities into renewable energy centers. Archaea’s differentiated commercial strategy is focused on long-term contracts that provide commercial partners a reliable, non-intermittent, sustainable decarbonizing solution to displace fossil fuels.
Additional information is available at www.archaeaenergy.com.
Megan Light
This email address is being protected from spambots. You need JavaScript enabled to view it.
346-439-7589
Blake Schreiber
This email address is being protected from spambots. You need JavaScript enabled to view it.
346-440-1627
BARCELONA, Spain--(BUSINESS WIRE)--Wallbox (NYSE: WBX), a leading provider of electric vehicle (EV) charging and energy management solutions worldwide, today announced that it will release its financial results for the first quarter of 2022 before market open on Wednesday, May 11, 2022. The company will host a conference call at 8:00 AM ET (2:00 PM CET), to discuss these results and provide a business update. The prepared remarks by Enric Asunción, co-founder and chief executive officer, and Jordi Lainz, chief financial officer, will be followed by a question and answer session.
Please visit this link, which is also accessible on the ‘Events & Presentations’ section of the company’s investor relations website, investors.wallbox.com, to register for and join the webcast. A replay of the webcast following the event and the accompanying presentation materials will be accessible through the same link and available for future download.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine users' relationship to the grid. Wallbox goes beyond electric vehicle charging to give users the power to control their consumption, save money, and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public and public use in more than 90 countries. Founded in 2015 and headquartered in Barcelona, the company now employs over 900 people in its offices in Europe, Asia, and the Americas. For additional information, please visit www.wallbox.com.
Wallbox Forward Looking Statements
This press release includes “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 statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the timing of the release of the financial results and conference call. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “predict,” “potential,” “continue” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements, including those discussed under the caption “Risk Factors” in Wallbox’s final prospectus on Form 424(b)(3) filed with the SEC on November 12, 2021, as such factors may be updated from time to time in its other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Wallbox’s website at investors.wallbox.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement that Wallbox makes in this press release speaks only as of the date of such statement. Except as required by law, Wallbox disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
Wallbox Public Relations Contact:
Elyce Behrsin
Public Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+34 622 513 358
Wallbox Investor Contact:
Matt Tractenberg
VP, Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 404-574-1504
DALLAS--(BUSINESS WIRE)--Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on May 16, 2022 to Series C, Series D and Series E unitholders of record as of the close of business on May 2, 2022.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.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 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. An extensive list of factors that can affect future results are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic, and we cannot predict the length and ultimate impact of those risks. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.
This release serves as qualified notice to nominees as provided for under Treasury Regulation section 1.1446-4(b)(4) and (d). Please note that 100 percent of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
The information contained in this press release is available on our website at energytransfer.com.
Investor Relations:
Bill Baerg
Brent Ratliff
Lyndsay Hannah
214-981-0795
Media Relations:
Vicki Granado
214-840-5820
Long-term output performance guarantees and equipment warranty available for comprehensive enterprise risk management program
HAMILTON, Bermuda--(BUSINESS WIRE)--Ariel Re, a global (re)insurer with offices in Bermuda, London and Hong Kong, today announced that it has insured the long-term performance warranty of Ecogensus LLC, a global leader in advanced technology focused on delivering sustainable waste management solutions.
Through its Lloyd’s Syndicate 1910, Ariel Re provides insurance coverage to backstop comprehensive performance guarantees for Ecogensus’ recyclers, which process solid waste into high performance biofuels. The insurance coverage puts the strength of Ariel Re behind the performance guarantees for Ecogensus’ processing capacity and fuel specifications.
In addition to the performance warranty, Ariel Re and Ecogensus have also developed a project revenue protection program, which is structured to support debt lenders and based on an up-to-10-year facility level output performance warranty (“OPW”). The OPW program can be coupled with a facility start-up guarantee, which provides a seamless enterprise risk management solution.
“With a growing need for advanced technology to address significant environmental issues, including methane release and ocean plastic pollution, the global market will benefit from product offerings by Ecogensus,” said Frank Petrocelli, Senior Risk Analyst, Clean Energy Risk Solutions at Ariel Re. “Insurance products from strong counterparties like Ariel Re, will help to accelerate the use of these technologies.”
George Schulz, Leader Americas of Ariel Re Clean Energy Risk Solutions, added: “As the demand for sustainable waste management solutions continues to grow and project owners and investors seek support of complex performance warranties from recycling solution providers, the Ecogensus team has demonstrated a scalable waste recycling solution with a strong focus on robust and reliable performance; with open dialogue and sharing of information, it enables us to tailor a custom risk transfer solution. Ariel Re is pleased to help Ecogensus achieve its strategic growth goals.”
Bjornulf Ostvik, Founder and CEO of Ecogensus, said: “We are excited to partner with Ariel Re to provide reliability and certainty to our customers as we roll out our sustainability solutions globally. Our recycling technology offers market-leading waste processing capabilities and enables viable landfill alternatives. The Ariel Re program can enable our customers to access competitive financing solutions as they upgrade their facilities and enhance their valuations with our state-of-the-art recycling solutions.”
Ends
About Ariel Re:
Ariel Re offers a broad range of innovative insurance and reinsurance solutions and services through our offices in Bermuda, London and Hong Kong. We are a focused, specialty (re)insurance underwriting company meeting the business needs of a diverse client base. Ariel Re operates principally through Syndicate 1910 in London and also offers access to Lloyd’s Europe via Syndicate 5336.
Originally founded in 2005, Ariel Re was acquired by Pelican Ventures and J.C. Flowers in November 2020. The new owners provide Ariel Re with significant capital resources and a long track record of supporting successful, entrepreneurial businesses in the (re)insurance industry.
About Ecogensus, LLC (Ecogensus)
Ecogensus is a recycling technology company that has developed useful products (such as sustainable building materials or high performance biofuels) from waste. Ecogensus recycler systems offer market-leading waste processing capacity in a ruggedized, mobile system that can be placed at existing waste sites. For more information, please visit www.ecogensus.com
Media
Stephen Breen, Rein4ce
This email address is being protected from spambots. You need JavaScript enabled to view it.
+44 7843 076556
Ariel Re Contact Information:
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.arielre.com
Tel: 441-295-5485
DALLAS--(BUSINESS WIRE)--The Board of Directors of Holly Energy Partners, L.P. (NYSE:HEP) has declared a cash distribution of $0.35 per unit for the first quarter of 2022. The distribution will be paid on May 13, 2022 to unitholders of record on May 2, 2022.
HEP plans to announce results for its first quarter of 2022 on May 9, 2022 before the opening of trading on the NYSE and has scheduled a webcast conference on May 9, 2022 at 8:30 a.m. Eastern time to discuss financial results.
The webcast may be accessed at:
https://events.q4inc.com/attendee/607702822
About Holly Energy Partners, L.P.:
Holly Energy Partners, L.P., headquartered in Dallas, Texas, provides petroleum product and crude oil transportation, terminalling, storage and throughput services to the petroleum industry, including subsidiaries of HF Sinclair Corporation. HEP, through its subsidiaries and joint ventures, owns and/or operates petroleum product and crude pipelines, tankage and terminals in Colorado, Idaho, Iowa, Kansas, Missouri, Nevada, New Mexico, Oklahoma, Texas, Utah, Washington and Wyoming, as well as refinery processing units in Kansas and Utah.
This press release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Please note that one hundred percent (100.0%) of HEP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, HEP’s distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Forward Looking Statements:
This press release contains various “forward-looking statements” within the meaning of the federal securities laws. These forward-looking statements are identified as any statement that does not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “project,” “expect,” “will,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may” and similar expressions and statements regarding our plans and objectives for future operations are intended to identify forward-looking statements. These forward-looking statements are based on our beliefs and assumptions and those of our general partner, using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in or filings with the Securities and Exchange Commission. Although we and our general partner believe that such expectations reflected in such forward-looking statements are reasonable, neither we nor our general partner can give assurance that our expectations will prove to be correct. All statements concerning our expectations for future results of operations are based on forecasts for our existing operations and do not include the potential impact of any future acquisitions. Our forward-looking statements are subject to a variety of risks, uncertainties and assumptions. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, projected or expected. Certain factors could cause actual results to differ materially from results anticipated in the forward-looking statements. These factors include, but are not limited to:
The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Holly Energy Partners, L.P.
Craig Biery, 214-954-6511
Vice President, Investor Relations
or
Trey Schonter, 214-954-6511
Manager, Investor Relations
Local NAACP acknowledges Enviva’s Senior Community Relations Manager, Chris Brown, as a community supporter and political advocate in North Carolina
BETHESDA, Md.--(BUSINESS WIRE)--#BertieCountyNAACP--Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainable wood bioenergy, today announced it was the recipient of the “Red Diamond Patriot Award,” the highest tier award the Bertie County Branch of The National Association for the Advancement of Colored People (NAACP) can bestow on an individual or company. Enviva’s Mid-Atlantic Senior Community Relations Manager, Chris Brown, was honored with the Red Diamond Patriot Award at the NAACP’s Annual Freedom Fund Banquet on April 2, 2022 for being an outstanding community partner and advocate for the Bertie County NAACP.
“The Red Diamond Patriot Award is the highest tier award of our local branch,” stated Dr. Kennedy Barber, President of the Bertie County Branch of NAACP. “The recipient of this award is an individual or group who have exhibited exceptional community support above their peers. We, the Bertie County NAACP Branch, are glad that Enviva chose to partner with us in aide to the residents of Cedar Landing who lost everything in the 2020 tornado. As a great Chinese philosopher stated, ‘a journey of a thousand miles begins with one single step.’ Thanks to Chris Brown and Enviva for their willingness to take those steps with us on our long journey ahead.”
Over the last two years, Enviva has been involved with several projects that have benefitted both Bertie County and Northampton County in North Carolina. In August of 2020, a deadly tornado touched down in the area destroying several neighborhoods in its path. Based on requests from local officials and clergy, Enviva quickly stepped in to provide immediate assistance and supplies to the region. Similarly, at the onset of the COVID-19 pandemic, Enviva regularly sponsored and volunteered at the Mobile Pantry to provide food and supplies to families in need throughout Northampton and Bertie Counties.
“Enviva is proud to play an active role in the communities we call home. Through partnerships like the Bertie County Branch of the NAACP we continuously stay engaged to support and serve the communities we work in,” stated Chris Brown. “But even more, I enjoy and appreciate the friendships that develop through the collaboration process on different projects and programs. I truly appreciate Dr. Kennedy Barber and the Bertie County Branch of the NAACP for recognizing Enviva and me with a Red Diamond Patriot Award at their Annual Freedom Fund Banquet. It was a surprise, and a big honor.”
The award ceremony’s keynote address was delivered by South Carolina statesman, Bakari Sellers, and North Carolina Agricultural & Technical State University’s Jazz Band Director, Jonovan Cooper, provided musical entertainment for the event.
About Enviva
Enviva (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source that is produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva sells a significant majority of its wood pellets through long-term, take-or-pay off-take contracts with creditworthy customers in the United Kingdom, the European Union, and Japan. Enviva owns and operates 10 plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. In addition, Enviva exports wood pellets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
Jacob Westfall
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1-301-657-5560
HOUSTON--(BUSINESS WIRE)--USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that the Board of Directors of its general partner declared a quarterly cash distribution of $0.1235 per unit for the first quarter of 2022 ($0.494 per unit on an annualized basis), representing an increase of $0.0025 per unit, or 2.1% over the distribution declared for the fourth quarter of 2021. The quarterly increase is in-line with management’s previously stated guidance. The distribution is payable on May 13, 2022, to unitholders of record at the close of business on May 4, 2022.
First Quarter 2022 Earnings Release Date and Conference Call Information
The Partnership plans to report first quarter 2022 financial and operating results after market close on Wednesday, May 4, 2022. The Partnership will host a conference call and webcast regarding first quarter 2022 results at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on Thursday, May 5, 2022.
To listen live over the Internet, participants are advised to log on to the Partnership’s website at www.usdpartners.com and select the “Events & Presentations” sub-tab under the “Investors” tab. To join via telephone, participants may dial (866) 518-6930 domestically or +1 (203) 518-9797 internationally, conference ID 9626417. Participants are advised to dial in at least five minutes prior to the call.
An audio replay of the conference call will be available for thirty days by dialing (888) 269-5319 domestically or +1 (402) 220-7322 internationally, conference ID 9626417. In addition, a replay of the audio webcast will be available by accessing the Partnership's website after the call is concluded.
About USD Partners LP
USD Partners LP is a fee-based, growth-oriented master limited partnership formed in 2014 by US Development Group, LLC (“USD”) to acquire, develop and operate midstream infrastructure and complementary logistics solutions for crude oil, biofuels and other energy-related products. The Partnership generates substantially all of its operating cash flows from multi-year, take-or-pay contracts with primarily investment grade customers, including major integrated oil companies and refiners. The Partnership’s principal assets include a network of crude oil terminals that facilitate the transportation of heavy crude oil from Western Canada to key demand centers across North America. The Partnership’s operations include railcar loading and unloading, storage and blending in on-site tanks, inbound and outbound pipeline connectivity, truck transloading, as well as other related logistics services. In addition, the Partnership provides customers with leased railcars and fleet services to facilitate the transportation of liquid hydrocarbons and biofuels by rail.
USD, which owns the general partner of USD Partners LP, is engaged in designing, developing, owning, and managing large-scale multi-modal logistics centers and energy-related infrastructure across North America. USD’s solutions create flexible market access for customers in significant growth areas and key demand centers, including Western Canada, the U.S. Gulf Coast and Mexico. Among other projects, USD is currently pursuing the development of a premier energy logistics terminal on the Houston Ship Channel with capacity for substantial tank storage, multiple docks (including barge and deepwater), inbound and outbound pipeline connectivity, as well as a rail terminal with unit train capabilities. For additional information, please visit texasdeepwater.com. Information on websites referenced in this release is not part of this release.
Qualified Notice to Nominees
This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that we believe that 100 percent of the Partnership’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of the Partnership’s distributions to foreign investors are subject to federal income tax withholding at the highest effective tax rate for individuals or corporations, as applicable. Nominees, and not the Partnership, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws, including statements with respect to the amount and timing of the Partnership’s first quarter 2022 cash distribution and the business prospects of the Partnership and USD. Words and phrases such as “plans,” “expects,” “will,” “progressing on,” “pursuing,” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to the Partnership are based on management’s expectations, estimates and projections about the Partnership, its interests, USD’s projects and the energy industry in general on the date this press release was issued. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. The current economic downturn (including the effects of the ongoing situation in Ukraine and its regional and global ramifications) and pandemic introduces unusual risks and an inability to predict all risks that may impact the Partnership’s business and outlook. Therefore, actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. Factors that could cause actual results or events to differ materially from those described in the forward-looking statements include those as set forth under the heading “Risk Factors” in the Partnership’s most recent Annual Report on Form 10-K and in its subsequent filings with the Securities and Exchange Commission. The Partnership is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
Category: Earnings
Investor Relations Contacts:
Adam Altsuler, (281) 291-3995
Executive Vice President and Chief Financial Officer
Jennifer Waller, (832) 991-8383
Senior Director, Financial Reporting and Investor Relations
DUBLIN--(BUSINESS WIRE)--The "Global Biodiesel Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2030" report has been added to ResearchAndMarkets.com's offering.
Global Biodiesel demand stood at 25 Million Tonnes in 2020 and is forecast to reach 48.02 Million Tonnes by 2030, growing at a healthy CAGR of 6.75% until 2030.
Biodiesel is a type of fuel made from bio-based resources such as vegetable oil and animal fat. It is renewable in nature with a lesser carbon footprint. It can be used in existing diesel engines without modification. Biodiesel is produced via transesterification whereby glycerin is separated from animal fat or vegetable oil, leaving behind methyl esters and glycerin. Its major application areas are fuel and power generation. Lesser greenhouse gas emissions associated with biodiesel coupled with its biodegradable nature and the growing need to replace fossil fuel with renewable fuel are projected to drive the demand of biodiesel for the forecast period.
Moreover, high compatibility of biodiesel with the existing diesel engines is another factor fueling demand growth for biodiesel during the forecast period. Increasing population and the subsequent growth in the number of vehicles and other industries using biodiesel is also expected to support demand rise for biodiesel.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns, which had an impact on a number of industries. Automotive was among the most affected industries during the pandemic. In fact, during the pandemic, there was a fall in the demand of automotive industry. This had an impact on the demand of biodiesel for the first half of 2020. The demand for biodiesel fell during the coronavirus pandemic. Furthermore, the increasing demand for the environment friendly and greenhouse gas emission reducing gas is anticipated to aid the growth of the market in the upcoming five years. Also, government aid like subsidies and imposing mandates indicates a continued growth of the market.
Region wise, Europe region holds the major share of global demand for biodiesel due to early adoption and technological advancements of biodiesel. Moreover, increasing preference towards replacement of fossil fuel which is associated with higher greenhouse gas emissions with biofuel, which is renewable and biodegradable in nature, is also an influencing factor for demand growth in Europe.
Report Scope:
In this report, global biodiesel market has been segmented into following categories, in addition to the industry trends which have also been detailed below
Major Players Include
Years Considered for this Report:
Objective of the Study:
Key Topics Covered:
1. Global Biodiesel Market Outlook, 2015-2030
2. Global Biodiesel Demand Outlook, 2015-2030, By Volume
3. North America Biodiesel Market Outlook, 2015-2030
4. North America Biodiesel Demand Outlook, 2015-2030, By Volume
5. Asia Pacific Biodiesel Market Outlook, 2015-2030
6. Asia Pacific Biodiesel Demand Outlook, 2015-2030, By Volume
7. Europe Biodiesel Market Outlook, 2015-2030
8. Europe Biodiesel Demand Outlook, 2015-2030, By Volume
9. MEA Biodiesel Market Outlook, 2015-2030
10. MEA Biodiesel Demand Outlook, 2015-2030, By Volume
11. South America Biodiesel Market Outlook, 2015-2030
12. South America Biodiesel Demand Outlook, 2015-2030, By Volume
13. By Region
13. News and Deals
For more information about this report visit https://www.researchandmarkets.com/r/u4ran1
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
VANCOUVER, British Columbia--(BUSINESS WIRE)--EverGen Infrastructure Corp. (“EverGen'' or the “Company”) (TSXV: EVGN) (OTCQB: EVGIF), today reported financial results as at and for the three- month period and year ended December 31, 2021. All amounts are in Canadian dollars unless otherwise stated and are in accordance with IFRS.
For further information on the results please see the Company’s Consolidated Financial Statements and Management’s Discussion and Analysis filed on SEDAR at www.sedar.com and on EverGen’s website at www.evergeninfra.com.
Message to our Shareholders:
2021 was a transformational year for EverGen which saw the assembly of our core BC portfolio, acquisition of Fraser Valley Biogas, taking the company public via IPO and associated capital raises, together which have positioned EverGen to expedite growth as Canada’s RNG infrastructure platform. We delivered on our operational goals despite a number of challenges that we were able to overcome.
In the fourth quarter of 2021, our operations were impacted by the flooding events in the Abbotsford and Sumas Prairie regions. Net income (loss) and Adjusted EBITDA were impacted by downtime and increased costs, while Revenue increased over the previous quarter due to higher volumes of incoming organic feedstock primarily related to post-flood processing. EverGen’s FVB facility was temporarily shutdown on November 15, 2021 as a result of the flooding events.
Today our operations have successfully recovered from the impact of the floods, including bringing EverGen’s FVB facility back online on March 2, 2022. To date in 2022, EverGen has recovered more than $1.7 million of insurance proceeds, which represents a progress payment relating to lost revenues and additional expenses incurred from the flooding events. EverGen expects to recover further proceeds throughout 2022 as it incurred additional flood related expenses. This results in a deferral of positive Adjusted EBITDA that would have otherwise been recognized in the fourth quarter of 2021.
2021 Financial Highlights
The following table presents EverGen’s Consolidated Financial and Operating Summary:
|
Three Months Ended |
Year/Period Ended |
|||
|
Dec 31, |
Sep 30, |
Dec 31, |
Dec 31, |
Dec 31, |
In thousands of Canadian Dollars |
2021 $ |
2021 $ |
2020 $ |
2021 $ |
2020 $ |
FINANCIAL |
|
|
|
|
|
Revenue(1) |
2,693 |
1,937 |
- |
9,564 |
- |
Net income (loss)(2) |
(1,113) |
493 |
(2,227) |
(1,953) |
(2,233) |
Net income (loss) per share $, basic and diluted |
(0.08) |
0.04 |
(6.69) |
(0.18) |
(17.05) |
EBITDA(3)(4) |
(512) |
1,854 |
(2,515) |
836 |
(2,521) |
Adjusted EBITDA(3)(4) |
(18) |
791 |
- |
2,839 |
- |
|
|
|
|
|
|
Capital expenditures – property and equipment |
1,004 |
428 |
- |
1,590 |
- |
Capital expenditures – acquisitions |
- |
- |
24,498 |
10,644 |
24,498 |
Total assets |
80,610 |
80,933 |
50,540 |
80,610 |
50,510 |
Total long-term liabilities |
14,764 |
15,142 |
8,780 |
14,764 |
8,780 |
Working capital surplus (deficit)(4) |
20,545 |
21,751 |
(2,842) |
20,545 |
(2,842) |
|
|
|
|
|
|
OPERATING |
|
|
|
|
|
Incoming organic feedstock (tonnes) |
26,110 |
20,465 |
- |
94,206 |
- |
Organic compost and soil sales (yards)(5) |
5,119 |
12,532 |
- |
61,790 |
- |
RNG (gigajoules)(1) |
12,682 |
23,854 |
- |
55,380 |
- |
(1) |
RNG volumes commenced on April 16, 2021, upon the acquisition of Fraser Valley Biogas (“FVB”). RNG volumes were lower for the fourth quarter of 2021 as a direct result of flooding events in the Abbotsford and Sumas Prairie regions, which resulted in the shut down of the FVB facility on November 15, 2021, until operations were restored. Since March 2, 2022 FVB has been operating and producing daily volumes of up to 223 GJ/d, restoring production volumes to historical levels. |
(2) |
Operating expenses and cost of goods sold increased during the fourth quarter of 2021 at FVB and Net Zero Waste Abbotsford (“NZWA”) as a direct result of the flooding events. |
(3) |
The lost revenues and additional costs incurred as a result of the floods are insurable under the Company’s insurance policies and will be offset with insurance proceeds received and recognized in net income (loss) during 2022. There were no insurance proceeds related to the floods recognized in net income (loss) during 2021. |
(4) |
Please refer to "Non-IFRS Measures" |
Management Team Growth
EverGen successfully achieved its 2021 milestones, increasing productivity at all three facilities as well as executing on acquisitional growth. With a solid leadership team in place to set the foundation, we have expanded the core team to accelerate our growth trajectory and leverage our unique position in the RNG industry.
After successfully leading the Company’s initial acquisitions and IPO in August of 2021, Mischa Zajtmann, President of EverGen has assumed the role of Chief Operating Officer, overseeing our technical leaders to drive best in class performance in operations, successful development and integration of growth projects and fostering synergies across the organization. Concurrently, Sean Mezei will transition to a strategic RNG advisor role. He will provide focused support and expertise to the operating and project teams including playing a key role in the Company’s evaluation of new projects and growth strategy, as well commissioning and optimization of our core RNG facilities.
Additionally, EverGen has welcomed Jamie Betts, VP of Operations, and Sean Hennessy, VP of Finance, as the Company continues to expand its RNG platform and become increasingly active in the M&A space and delivering on a growing number of expansion and development projects.
Betts, a professional engineer, joins EverGen as VP of Operations with over 35 years of experience in multinational energy and waste management companies, including, more recently, the positions of VP of Engineering at Miller Waste Systems Inc. and Project Director at Husky Energy. He brings to the team a demonstrated track record in project execution, process implementation, safety optimization, and environmental, operations and maintenance performance expertise, all of which will bolster the EverGen platform in operations, existing expansion projects and future growth opportunities.
Hennessy, a chartered accountant, joins EverGen as VP of Finance with over 15 years of finance and accounting related experience, including the positions of Director of Corporate Reporting for Altera Infrastructure, a global energy infrastructure group and a Brookfield Business Partners portfolio company, and Director of Financial Reporting for a clean technology company. He brings to the team a proven track record of success working within public and private equity portfolio companies and will support EverGen in realizing platform synergies with his strong business acumen combined with well-developed analytical skills and a focus on accretive growth.
These additions to the management team further strengthens our Company and provides additional capacity for development, construction, and operations for EverGen’s growing platform.
Pursuant to the Company’s Equity Plan, the Company has granted 78,976 restricted share units (RSUs) to certain officers of the Company.
2021 Achievements & Highlights:
1. Establishing our Initial Core RNG Portfolio
2. Solid Operational & Asset performance
3. Strong Capital Discipline
4. Positioning for Growth
Outlook
In 2021, EverGen laid the foundation for growth and positioned the Company to be a leader in the RNG infrastructure space in 2022 and beyond. The recently announced letter of intent to acquire a 67% interest in GrowTec, an Alberta based biogas facility, is a cornerstone project in a new jurisdiction for EverGen and demonstrates the Company’s ability to participate in the consolidation and growth of the RNG industry. EverGen intends to pursue similar opportunities within its core markets and across the country, investing in truly sustainable operations that contribute to carbon-negative energy production and positively impacting climate change initiatives.
Core Expansion Projects Update
NZWA: The Company’s Net Zero Waste Abbotsford composting facility will undergo a capital expansion project to add an anaerobic digester to produce biogas, which will then be upgraded to RNG to feed into FortisBC’s gas network under a previously announced long-term off-take contract. The expansion is expected to increase the facility throughput to ~135,000 tonnes of feedstock per year and is designed to produce ~180,000 GJ of RNG per year.
As a result of ongoing Covid implications and the flooding event in late-2021, the Company is anticipating a delay in construction of the expansion project based on recent discussions with local and provincial regulatory authorities. To mitigate these delays and advance the project with minimal impact to the schedule, EverGen’s management team is considering a number of options and will provide updates on the project schedule as it becomes available. Concurrently, management is evaluating additional opportunities to utilize capital earmarked for this project to advance new core projects with similar return profiles.
FVB: The Company’s Fraser Valley Biogas RNG facility will undergo a capital expansion project to add additional RNG production capacity. The expansion is expected to nearly double the capacity of the facility to accept ~100,000 tonnes of feedstock per year and increase RNG production to ~160,000 GJ per year.
We anticipate this expansion project may also experience some delays in the approval process due to the same issues outlined above, however with the initial phase of the expansion project utilizing existing site infrastructure, incremental RNG production and additional EBITDA contribution is still expected by the end of 2022.
Sea to Sky Soils: Sea to Sky Soils is working with the Ministry of Environment to expand operational capacity in 2022 which further bolsters EverGen’s footprint in Southern BC allowing for processing of incremental organic waste feedstock volumes.
Summary
EverGen remains positioned to deliver strong shareholder returns in 2022 and beyond with many competitive advantages, including the following:
About EverGen Infrastructure Corp.
EverGen, Canada’s Renewable Natural Gas Infrastructure Platform, is combating climate change and helping communities contribute to a sustainable future, starting on the West Coast. EverGen is an established independent renewable energy producer which acquires, develops, builds, owns and operates a portfolio of Renewable Natural Gas, waste to energy, and related infrastructure projects. EverGen is focused on British Columbia, with continued growth expected across other regions in North America.
For more information about EverGen Infrastructure Corp. and our projects, please visit www.evergeninfra.com.
Non-IFRS Measures
EverGen uses certain financial measures referred to in this press release to quantify its results that are not prescribed by IFRS. The terms EBITDA, adjusted EBITDA and working capital are not recognized measures under IFRS and may not be comparable to that reported by other companies. EverGen believes that, in addition to measures prepared in accordance with IFRS, the non-IFRS measurement provide useful information to evaluate the Company’s performance and ability to generate cash, profitability and meet financial commitments.
These non-IFRS measure is intended to provide additional information and should not be considered in isolation or as a substitute for other measures of performance prepared in accordance with IFRS.
EBITDA is defined as net income (loss) before interest, tax and depreciation and amortization. Adjusted EBITDA is EBITDA adjusted for share-based payment expenses and unusual or non-recurring items. Working capital is calculated as current assets less current liabilities.
Forward-Looking Information
This news release contains forward-looking statements and/or forward-looking information (collectively, “forward looking statements”) within the meaning of applicable securities laws. When used in this release, such words as “would”, “will”, “anticipates”, believes”, “explores” and similar expressions, as they relate to EverGen, or its management, are intended to identify such forward-looking statements. Such forward-looking statements reflect the current views of EverGen with respect to future events, and are subject to certain risks, uncertainties and assumptions. Many factors could cause EverGen's actual results, performance or achievements to be materially different from any expected future results, performance or achievement that may be expressed or implied by such forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits EverGen will derive therefrom. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to: the impact of general economic conditions in Canada, including the ongoing COVID19 pandemic; industry conditions including changes in laws and regulations and/or adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, in Canada; volatility of prices for energy commodities; change in demand for clean energy to be offered by EverGen; competition; lack of availability of qualified personnel; obtaining required approvals of regulatory authorities, in Canada; ability to access sufficient capital from internal and external sources; optimization and expansion of organic waste processing facilities and RNG feedstock; the realization of cost savings through synergies and efficiencies expected to be realized from the Company’s completed acquisitions; the sufficiency of EverGen’s liquidity to fund operations and to comply with covenants under its credit facility; continued growth through strategic acquisitions and consolidation opportunities; continued growth of the feedstock opportunity from municipal and commercial sources, and the factors discussed under “Risk Factors” in the Company’s Annual Information Form dated January 31, 2022, many of which are beyond the control of EverGen.
Forward-looking statements included in this news release should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such forward looking statements.
The forward-looking statements contained in this release are made as of the date of this release, and except as may be expressly be required by law, EverGen disclaims any intent, obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.
EverGen Investors
Kelly Castledine
416-576-8158
This email address is being protected from spambots. You need JavaScript enabled to view it.
EverGen Media
Katie Reiach
604.614.5283
This email address is being protected from spambots. You need JavaScript enabled to view it.
Eco-friendly, Energy Efficient System Will Provide Reliable, Remote Power
VAN NUYS, Calif.--(BUSINESS WIRE)--$CGRN #EnergyAsAService--Capstone Green Energy Corporation (NASDAQ: CGRN), a global leader in carbon reduction and on-site resilient green Energy as a Service (EaaS) solutions, announced today that it continues to expand its Energy-as-a-Service (EaaS) business with a rental contract for a 600 kilowatt (kW) microturbine-based system with one of the largest energy infrastructure companies in North America.
The minimum 6-month EaaS agreement is the sixth such system utilized by this oil and gas customer, reflecting the Company's interest in high reliability, more environmentally friendly power solutions for its operations. As an oil-free, low-maintenance power generating source, microturbine-based systems are ideal for remote locations where reliability is key and on-site staff is minimal or non-existent.
The contract, secured by Horizon Power Systems, Capstone's exclusive Distributor for the Mid-Western U.S. and Western Canada, is expected to be commissioned in mid-May 2022. The new system will supply power to remote mid-stream operations along the customer's pipeline in Colorado. The agreement also includes Capstone's industry-leading Factory Protection Plan (FPP), which provides complete service coverage, parts and labor for both scheduled and unscheduled maintenance.
During the last fiscal year, in order to become a global partner in carbon reduction and on-site resilient green energy solutions, Capstone Green Energy began to accelerate its shift to an Energy-as-a-Service or EaaS company. Capstone Green Energy is focused on the EaaS business model, as it adds more diversity to the Company's revenues and allows for a more streamlined staffing model than the previous industrial manufacturing company business model.
"Our customer was already familiar with Capstone Green Energy. This repeat order demonstrates that they clearly value both the power reliability and ease of permitting offered by low emissions, clean energy microturbine-based technology," said Sam Henry, President of Horizon Power Systems.
"This month, Capstone enters fiscal 2023 well positioned as an Energy-as-a-Service provider of high efficiency, low emission power generation products that enable customers to lower their energy costs, increase their power resilience, and reduce their carbon emissions," said Darren Jamison, Chief Executive Officer of Capstone Green Energy.
About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (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
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December 31, 2021 and 2020, were as follows:
|
Twelve months ended
|
Increase /
|
||||||||||
|
2021 |
2020 |
||||||||||
Barrels of Oil Produced................. |
|
738,000 |
|
733,000 |
|
5,000 |
|
|||||
Average Price Received................ |
$ |
68.39 |
$ |
38.02 |
$ |
30.38 |
|
|||||
Oil Revenue (In 000’s).................. |
$ |
50,474 |
$ |
27,865 |
$ |
22,609 |
|
|||||
Mcf of Gas Sold............................ |
|
3,236,000 |
|
3,381,000 |
|
(145,000 |
) |
|||||
Average Price Received................ |
$ |
3.53 |
$ |
1.24 |
$ |
2.29 |
|
|||||
Gas Revenue (In 000’s)................. |
$ |
11,432 |
$ |
4,202 |
$ |
7,230 |
|
|||||
Barrels of Natural Gas Liquids Sold.............. |
|
416,000 |
|
437,000 |
|
(21,000 |
) |
|||||
Average Price Received................ |
$ |
26.97 |
$ |
11.22 |
$ |
15.75 |
|
|||||
Natural Gas Liquids Revenue (In 000’s)......... |
$ |
11,220 |
$ |
4,906 |
$ |
6,314 |
|
|||||
Total Oil & Gas Revenue (In 000’s)................ |
$ |
73,126 |
$ |
36,973 |
$ |
36,153 |
|
|||||
Proved reserves at December 31, 2021 were 5,386,000 barrels of oil, 2,882,000 barrels of natural gas liquids and 23,902,000 thousand cubic feet of natural gas; or 12,252,000 barrels of oil equivalents.
Our current credit facility provides for a credit line of $50 million; as of April 21, 2022, we have outstanding borrowings of $8 million with the right to borrow $42 million additionally.
|
Year Ended December 31, |
|||||||||||
|
2021 |
2020 |
Increase /
|
|||||||||
Revenues (In 000’s)............ |
$ |
79,613 |
$ |
58,421 |
|
$ |
21,192 |
|||||
Net (Loss) Income (In 000’s) |
$ |
2,098 |
$ |
(2,316 |
) |
$ |
4,414 |
|||||
Earnings per Common Share: |
|
|
|
|||||||||
Basic............................ |
$ |
1.05 |
$ |
(1.16 |
) |
$ |
2.21 |
|||||
Diluted......................... |
$ |
0.76 |
$ |
(1.16 |
) |
$ |
1.92 |
|||||
Shares Used in Calculation of: |
|
|
|
|||||||||
Basic EPS..................... |
|
1,992,077 |
|
1,994,425 |
|
|
||||||
Diluted EPS.................. |
|
2,744,162 |
|
1,994,425 |
|
|
||||||
|
|
|
|
|||||||||
PNRG received a determination letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC ("Nasdaq") indicating that the Company was not in compliance with Nasdaq Listing Rule Listing Rule 5810(b), as a result of the Company’s failure to timely file its Form 10-K for the fiscal year ended December 31, 2021. Under Nasdaq’s Rules the Company has 60 calendar days to submit a plan to regain compliance to Nasdaq. The Company has submitted its Form 10-K for the fiscal year ended December 31, 2021 to the Securities and Exchange Commission on April 21, 2022, therefore, the Company is now in compliance with the NASDAQ listing rules.
PrimeEnergy is an independent oil and gas company actively engaged in acquiring, developing and producing oil and gas, and providing oilfield services, primarily in Texas and Oklahoma. The Company’s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.
Forward-Looking Statements
This Report contains forward-looking statements that are based on management's current expectations, estimates and projections. Words such as "expects," "anticipates," "intends," "plans," "believes", "projects" and "estimates," and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and are subject to the safe harbors created thereby. These statements are not guarantees of future performance and involve risks and uncertainties and are based on a number of assumptions that could ultimately prove inaccurate and, therefore, there can be no assurance that they will prove to be accurate. Actual results and outcomes may vary materially from what is expressed or forecast in such statements due to various risks and uncertainties. These risks and uncertainties include, among other things, the possibility of drilling cost overruns and technical difficulties, volatility of oil and gas prices, competition, risks inherent in the Company's oil and gas operations, the inexact nature of interpretation of seismic and other geological and geophysical data, imprecision of reserve estimates, and the Company's ability to replace and expand oil and gas reserves. Accordingly, stockholders and potential investors are cautioned that certain events or circumstances could cause actual results to differ materially from those projected.
Connie Ng, (713) 735-0000 ext 6416
LOS ANGELES--(BUSINESS WIRE)--Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced that it plans to report results for its fiscal first quarter ended March 31, 2022 on May 9, 2022. A conference call to discuss the financial and operational results is scheduled for May 9, 2022 at 2:00 PM U.S. Pacific Time (5:00 p.m. U.S. Eastern Time).
Investors, analysts, and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call, available on the Company’s website at www.investors.romeopower.com. Interested parties may also participate in the call by dialing (888) 550-5279 and entering the conference ID 5268336. A replay of the conference call will be available a few hours after the event on the investor relations section of the Company’s website, under the events section.
About Romeo Power, Inc.
Founded in 2016 and headquartered in Los Angeles, California, Romeo Power (NYSE: RMO) is an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications. The Company’s suite of advanced hardware, combined with its innovative battery management system, delivers the safety, performance, reliability and configurability its customers need to succeed. Romeo Power's 113,000 square-foot manufacturing facility brings its flexible design and development process in-house to pack the most energy dense modules on the market. To keep up with everything Romeo Power, please follow the Company on social @romeopowerinc or visit www.romeopower.com.
Forward Looking Statements
Certain statements in this press release may constitute “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, express or implied statements concerning Romeo Power’s ability to develop or sell new products, or to pursue customers in new product or geographic markets, Romeo Power’s expectations regarding its future financial performance, the demand for safe, effective, affordable and sustainable EV products, Romeo Power’s ability to produce and deliver such products on a commercial scale, and Romeo Power’s expectations that its customers will adhere to contracted purchase commitments on the currently expected timeframe are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Romeo Power’s management’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: Romeo Power’s ability to execute on its plans to develop and market new products and the timing of these development programs; Romeo Power’s ability to increase the scale and capacity of its manufacturing processes; Romeo Power’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Romeo Power’s products; the success of other competing technologies that may become available; Romeo Power’s ability to identify and integrate acquisitions; Romeo Power’s potential need for and ability to secure additional capital; the performance of Romeo Power’s products and customers; potential litigation involving Romeo Power; demand for battery cells and supply shortages; the potential effects of COVID-19; and general economic and market conditions impacting demand for Romeo Power’s products. You should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s filings with the SEC. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from those implied by our forward-looking statements. 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 Romeo Power undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Romeo Power Inc.
For Investors:
Joe Caminiti or Ashley Gruenberg
Alpha IR Group
This email address is being protected from spambots. You need JavaScript enabled to view it.
312-445-2870
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.