The latest approval expands the footprint of the Miami-based green paper products developer now poised for global expansion
MIAMI--(BUSINESS WIRE)--J&J Green Paper has received U.S. Patent and Trademark Office approval for its cutting-edge green paper solution in the United States. This latest development is another milestone for the Miami-based company poised to make its innovation, JANUS, available to global paper industry giants currently producing 420 million metric tons of paper products every year.
JANUS, developed by J&J, is an all-natural moisture-proof coating used for paper and paper packaging. “This organic, recyclable, compostable, repulpable technology directly replaces polyethylene glycol (PEG) currently used in traditional paper products”, says Scott Segal, CEO of J&J. PEG upon decomposition is a known contributor to greenhouse gases.
"JANUS is the Holy Grail," says Segal. "We have the only product today that is a third of the cost of polyethylene glycol (PEG), uses less energy to produce and has diverse applications. JANUS is the best-kept secret that needs to be told."
J&J is currently in discussions with some of the biggest makers of paper products in the retail, food and beverage industries. With significant pressure to reduce the footprint of polyethylene and plastic to combat global warming and reduce environmental hazards, Segal sees the need to assemble an eco-system to initiate the massive, global distribution of this transformative eco-friendly material.
Recently, the company announced a partnership with CERAX PTY Ltd., which has a manufacturing facility in South Africa and will help with mass production. J&J had already initiated limited production in facilities in China, Brazil and Miami, but even with these arrangements, the company cannot manufacture enough product to satisfy global demand.
According to the JJGP leadership team, it would take too much time and money to set-up new facilities to fulfill orders from any of the large global companies that rely on paper products to get their goods in the hands of customers.
"We've met the criteria, obtained all certifications and are now poised for a joint venture, a scaling plan, or even a buyout to get our product where it’s needed most. We know J&J has a unique solution for one of the world's biggest environmental problems," says Segal. “And we are doing all that we can to continue to clear as many hurdles as possible to market and consumer acceptance.”
The process has been a laborious one for Segal who discovered the compostable properties of JANUS six years ago, in his kitchen. Understanding the environmental and economic implications, J&J spear-headed the arduous testing of the product, the rigorous certification process and developed a strategic, vertical business model that highlights a quick ROI with very little capitalization needed.
"Janus is a classic market disruptor," says Rick Bulman, of Bailey Duquette, legal advisor to the company. "Everyone in the paper industry is aware of the need for change due to the practical impact of plastic waste, new environmental laws and social awareness. There really is no choice but to find alternate solutions to traditional paper products. JJGP has created an ideal solution for those paper companies wanting to profitably do well by doing good.”
The challenge is getting a seat at the table, not only with the paper mills, but their customers in the food and beverage industries. Close to 60 billion coffee cups end up in landfills every year due to the plastic coating that still exists in the typical disposable cup.
"This is the beauty of J&J. If a JANUS coated cup does end up in a landfill, it will disintegrate without a toxic footprint because it's truly sustainable and environmentally stable, " says Horacio Sbrolla, SVP International Operations with J&J Green Paper. "It's time to wake up the industry and urge them to make the change, and we are giving the paper mills and their customers the entire solution."
This is a classic 'David and Goliath' situation for Segal, who has an evident passion for moving his innovation forward and to the finish line. "So far, we've done things big companies couldn’t do," says Segal. "But the way we solve this global problem going forward is to align ourselves with forward-thinking partners and to work together."
Known for his persistence, Segal has made it clear, he won't stop until he finds that deal. "When you have the answer to a problem that everyone needs to solve, making it happen is the only acceptable outcome.”
Yusila Ramirez, This email address is being protected from spambots. You need JavaScript enabled to view it., +1 786.547.0779
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, announced today that its Board of Directors has unanimously approved a plan to pursue a separation into two independent, publicly-traded companies to optimize investment and capital allocation, accelerate growth, and unlock shareholder value. Upon completion, Crane Co.’s shareholders will benefit from ownership in two focused and simplified businesses that are both leaders in their respective industries and well-positioned for continued success:
Compelling Rationale for a Separation
Crane’s Board of Directors and management believe that the creation of two pure-play companies with distinct product and service offerings will better position Crane's businesses to deliver long-term growth and create value for customers, investors and our associates, with each company benefiting from:
Mr. Mitchell, Crane Co. President and Chief Executive Officer, stated: “This announcement marks a major milestone in the evolution of Crane Co. For decades, we have delivered consistent and differentiated execution, strengthening our business through organic growth and value-creating acquisitions. Having achieved the scale to operate as two market-leading, separate companies, we believe this transaction will unlock substantial value for our shareholders, as each company attracts an investor base tailored to its respective financial and growth profile.”
“Importantly, after the separation, both companies will retain the key aspects of Crane’s strong culture and management approach, providing a strong foundation for both companies, representing what we are calling the ‘Power of Two.’ This includes our distinctive high-performance culture, our commitment to philanthropy, sustainability and equality, and the cadence and discipline of the Crane Business System.”
Transaction Details
The separation is expected to occur through a tax-free distribution of the Aerospace & Electronics and Process Flow Technologies businesses to the Company’s shareholders. Payment & Merchandising Technologies will be renamed Crane NXT concurrent with the separation, and the Aerospace & Electronics and Process Flow Technologies businesses will retain the Crane Co. name. Upon completion of the separation, shareholders will own 100% of the equity in both of the publicly traded companies.
The separation is expected to be completed within approximately 12 months of this announcement, subject to the satisfaction of customary conditions and final approval of the separation by Crane Co.’s Board of Directors. Shareholder approval is not required.
Crane Co. will maintain its current capital deployment policies until the separation is completed.
Additional details of the separation are expected to be announced in the coming months and included in future filings with the SEC, including Board and leadership teams at both companies.
Investor Conference
Crane Co. is holding its annual investor conference today, Wednesday, March 30, 2022, from 8:30 AM to 12:00 PM in New York City. During today’s conference, Mr. Mitchell and other key Crane Co. executives will provide additional details on this announcement. Presentations will be available via live webcast accessible at the Company’s website at www.craneco.com in the Investor Relations section. A web replay will be available on our website shortly after completion of the event.
Advisors
Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel and Goldman Sachs & Co. LLC is acting as the financial advisor for Crane Co.
About Crane Co.
Crane Co. is a diversified manufacturer of highly engineered industrial products. Founded in 1855, Crane Co. provides products and solutions to customers across end markets including aerospace, defense, chemical and petrochemical, water and wastewater, payment automation, and banknote security and production, as well as for a wide range of general industrial and consumer applications. The Company has four business segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials. On May 24, 2021, Crane announced that it had signed an agreement to divest its Engineered Materials segment subject to customary closing conditions and regulatory approval. On March 17, 2022, the Department of Justice (DOJ) filed a complaint to enjoin that sale transaction. In the normal course, Crane expects to engage in a process to address the DOJ’s antitrust concerns regarding a minor overlap in a narrow range of material used in certain commercial building applications. Crane Co. has approximately 11,000 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Co. is traded on the New York Stock Exchange (NYSE:CR). For more information, visit www.craneco.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not limited to: statements regarding Crane’s and the ultimate spin-off company’s (“SpinCo”) portfolio composition and their relationship following the business separation; the anticipated timing, structure, benefits, and tax treatment of the spin-off; benefits and synergies of the spin-off; strategic and competitive advantages of each of Crane and SpinCo; future financing plans and opportunities; and business strategies, prospects and projected operating and financial results. In addition, there is also no assurance that the spin-off will be completed, that Crane’s Board of Directors will continue to pursue the spin-off (even if there are no impediments to completion), that Crane will be able to separate its businesses or that the spin-off will be the most beneficial alternative considered. We caution investors not to place undue reliance on any such forward-looking statements.
Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “plan(s),” “may,” “will,” “would,” “could,” “should,” “seek(s),” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained.
Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to: changes in global economic conditions (including inflationary pressures) and geopolitical risks, including macroeconomic fluctuations that may harm our business, results of operation and stock price; the effects of the ongoing coronavirus pandemic on our business and the global and U.S. economies generally; information systems and technology networks failures and breaches in data security, personally identifiable and other information, non-compliance with our contractual or other legal obligations regarding such information; potential exposure from numerous lawsuits for asbestos-related personal injury; our ability to source components and raw materials from suppliers, including disruptions and delays in our supply chain; demand for our products, which is variable and subject to factors beyond our control; governmental regulations and failure to comply with those regulations; fluctuations in the prices of our components and raw materials; loss of personnel or being able to hire and retain additional personnel needed to sustain and grow our business as planned; risks from environmental liabilities, costs, litigation and violations that could adversely affect our financial condition, results of operations, cash flows and reputation; risks associated with conducting a substantial portion of our business outside the U.S.; being unable to identify or complete acquisitions, or to successfully integrate the businesses we acquire, or complete dispositions, including the disposition of our Engineered Materials segment; adverse impacts from intangible asset impairment charges; potential product liability or warranty claims; being unable to successfully develop and introduce new products, which would limit our ability to grow and maintain our competitive position and adversely affect our financial condition, results of operations and cash flow; significant competition in our markets; additional tax expenses or exposures that could affect our financial condition, results of operations and cash flows; inadequate or ineffective internal controls; risks related to our holding company proposal to be voted on by Crane’s stockholders at Crane’s 2022 annual stockholder meeting, which are further described in the section entitled “Risk Factors Related to the Holding Company Proposal” in the preliminary Form S-4 registration statement filed on March 1, 2022 by our wholly-owned subsidiary, Crane Holdings, Co. (the “Crane Holdings Registration Statement”); specific risks relating to our reportable segments, including Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies and Engineered Materials; the ability and willingness of Crane and SpinCo to meet and/or perform their obligations under any contractual arrangements that are entered into among the parties in connection with the spin-off and any of their obligations to indemnify, defend and hold the other party harmless from and against various claims, litigation and liabilities; and the ability to achieve some or all the benefits that we expect to achieve from the spin-off.
Readers should carefully review Crane’s financial statements and the notes thereto, as well as the section entitled “Risk Factors” in Item 1A of Crane’s Annual Report on Form 10-K for the year ended December 31, 2021 and the section entitled “Risk Factors Related to the Holding Company Proposal” in the Crane Holdings Registration Statement and the other documents Crane and its subsidiaries (including Crane Holdings, Co.) file from time to time with the SEC. Readers should also carefully review the “Risk Factors” section of the registration statement relating to the business separation, which is expected to be filed by SpinCo with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
These forward-looking statements reflect management’s judgment as of this date, and Crane assumes no (and disclaims any) obligation to revise or update them to reflect future events or circumstances.
We make no representations or warranties as to the accuracy of any projections, statements or information contained in this document. It is understood and agreed that any such projections, targets, statements and information are not to be viewed as facts and are subject to significant business, financial, economic, operating, competitive and other risks, uncertainties and contingencies many of which are beyond our control, that no assurance can be given that any particular financial projections ranges, or targets will be realized, that actual results may differ from projected results and that such differences may be material. While all financial projections, estimates and targets are necessarily speculative, we believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The inclusion of financial projections, estimates and targets in this press release should not be regarded as an indication that we or our representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events.
Non-GAAP Explanation
Crane Co. reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). This press release includes certain non-GAAP financial measures, including pre-corporate Adjusted EBITDA margin, that are not prepared in accordance with GAAP. Crane Co. calculates “pre-corporate Adjusted EBITDA margin” as pre-corporate Adjusted EBITDA (earnings before interest, tax, depreciation and amortization expenses, before corporate overhead expense which includes director compensation, securities laws compliance costs, audit and professional fees, and other public company costs, and before Special Items which include transaction related expenses such as tax charges, professional fees and incremental corporate costs related to the proposed separation and other potential corporate transactions), divided by sales. These non-GAAP measures are an addition, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP.
We believe that pre-corporate Adjusted EBITDA margin on a forward-looking or projected basis provides useful supplemental information to investors about Crane Co. and Crane NXT after the proposed separation transaction by presenting a prospective view of each post-separation company’s underlying profitability that is not influenced by: depreciation and amortization related to historical acquisition and capital investment activity, and which may not be representative of future levels of capital investment and acquisition activity post-separation; corporate costs which will be influenced by the corporate structure of each post-separation company that will be determined by management teams and Boards of Directors that have not yet been fully established; and, Special Items primarily related to separation transaction costs that are not related to the underlying and ongoing operations of the post-separation company’s businesses.
Our management uses certain forward looking non-GAAP measures to evaluate projected financial and operating results. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore our non-GAAP measures may not be directly comparable to similarly titled measures of other companies. Reconciliations of forward-looking and projected non-GAAP measures, such as pre-corporate Adjusted EBITDA margin, to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on our future GAAP results.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, securities for sale.
Investor Contact:
Jason D. Feldman
Vice President, Investor Relations
203-363-7329
Media Contact:
Molly Morse / Ross Lovern
Kekst CNC
212-521-4826 / 212-521-4866
CLEVELAND--(BUSINESS WIRE)--Atwell, LLC is pleased to announce that Courtney Schmidt has joined the firm as Director, Power and Energy. Based in Atwell’s Independence office, she will support the company’s power and energy group by leading business development efforts and client relationships, managing projects, guiding her team’s deliverables, providing quality control, and maintaining budgets and schedules for projects throughout the region.
With a wealth of experience, including experience in creating profitable, business-changing growth strategies, Schmidt has been instrumental in startup initiatives. She has designed inaugural strategy; guided growth; communicated mission, created and motivated teams, as well as translated technology potential into effective business value to close the gap between vision and reality.
Schmidt specializes in the development of business in new markets and expanding core services to meet the market’s evolving needs. She monitors industry trends and initiatives while recognizing how they affect strategy and growth potential. She identifies synergies, reflects on policy technology and economic forces affecting the market, and collaborates with clients on how to best anticipate and address their needs. Schmidt joins Atwell from a wireless technology consulting company, where she spent more than 22 years. Over her tenure there, Courtney led corporate operations throughout the country. Schmidt earned a Juris Doctorate from Cleveland State University, Cleveland-Marshall College of Law, and a bachelor’s degree in Economics from Wittenberg University.
“Courtney’s decades of experience with navigating transition and growth will be a valuable asset as Atwell continues to expand its power and energy group nationwide,” said Atwell Vice President Matt Bissett. “We look forward to seeing her further develop our staff and provide our customers with innovative solutions.”
Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
Timothy Augustine, Senior Vice President
ATWELL, LLC
248.447.2005
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KOLÍN, Czech Republic--(BUSINESS WIRE)--Draslovka Holding a.s. (“Draslovka” or “the Company”), a Czech-based, global leader in cyanide-based chemical specialties and agricultural chemicals including next generation fumigants and biocides, has temporarily reduced production of sodium cyanide (NaCN) to a minimum level at its facility in Kolín, Czech Republic. This decision comes in response to the unprecedented spike in input costs experienced following the invasion of Ukraine by the Russian Federation. The invasion in Ukraine exacerbated a market situation where prices were already near historic highs.
NaCN production costs in Europe have almost trebled in 2022 due to the impact that the invasion and subsequent global trade sanctions has had on the prices of the energy and materials used – such as natural gas and ammonia – in the Company’s production processes. This increase, which is also exacerbated by ever-increasing shipping costs, has made the manufacture of NaCN temporarily uneconomical given the current spot prices.
Draslovka‘s European production facilities in Kolín, therefore, are re-focusing on other Draslovka products that are less affected by the recent energy volatility or whose prices have increased proportionally to this unprecedented increase in production cost. The products include KCN, DPG, Chelates and other chemical specialties.
The seamless supply of NaCN to the Company’s customers remains a key priority. Draslovka Mining Solutions plant in Memphis, America’s largest sodium cyanide production facility, is unaffected by this decision, and will be fully utilized to ensure the ongoing seamless supply to Draslovka’s customers. Due to the flexibility of Draslovka’s European production portfolio, the Company expects a relatively small financial impact of the decision on the business as a whole. There will be no redundancies at the Kolín plant as a result of this decision.
Pavel Brůžek, CEO of Draslovka, said:
“Spiking gas and raw materials prices, ever-increasing shipping costs and the economic isolation of the Russian Federation exaggerate the long-term market dynamics at play, making the manufacture of NaCN in Europe temporarily uneconomical with the current spot prices not currently covering the variable costs of NaCN production in EU.
I would like to personally reiterate that despite the developments outlined, seamless supply remains an absolutely core element of our commitment to our customers. Draslovka recognizes the mining industry’s critical need for a reliable supply of sodium cyanide and we will continue working diligently to support our customers’ operations. We have a number of tools at our disposal to do so, including the Americas’ largest production facility and most robust distribution network.”
/ENDS
About Draslovka Holding a.s.
Draslovka Holding a.s. (Draslovka) is a global leader in cyanide-based chemical specialties and agricultural chemicals including next generation fumigants and biocides. A private holding company based in the Czech Republic, it is owned by four Czech families collaborating within a framework of bpd partners, a leading family office based in Prague. Draslovka has more than 100 years of experience in hydrogen cyanide (HCN) production and HCN chemistry and specializes in the production of fully synthetic and highly purified liquid HCN, which undergoes further processing for application in a variety of downstream products ranging from the mining through to agriculture sectors. Draslovka aims to be a leading global player in the production of cyanides for use in synthesis, mining, and industrial and agricultural applications.
Draslovka operates in three areas:
1. Chemical Specialities – utilizing cyanide-based molecules for a variety of industrial and pharmaceutical applications.
2. Agriculture Science – producing sustainable fumigants, fertilizers and growth regulators, which help to increase crop yields.
3. Industrial Chemicals – creating chemical compounds for use in a variety of industries ranging from mining and coating.
About Draslovka Mining Solutions
Draslovka Mining Solutions, a fully owne subsidiary of Draslovka Holding, is the world leader in solid sodium cyanide (NaCN) production headquartered in the United States. The business counts a number of the world’s top mining companies as long-term customers, has advanced manufacturing and packaging capabilities, and offers end-to-end operational excellence enabling it to support the safety and efficiency of its customers’ operations. It has operated the largest solid sodium cyanide plant in the world since 1952 in Memphis, Tennessee, and also has a new plant in Durango, Mexico which is scheduled to open soon to help meet growing demand.
About Cyanides
Cyanide are substances consisting of Carbon and Nitrogen (CN) which are abundant in nature. These CN based substances have large variety of usages in mining, agriculture, automotive, electroplating & surface treatment, pharmaceutical intermediates, which are used in producing many products of our daily use. For more information about cyanides, their use and effects on environment and human health please go to www.cyanides.org.
Issued on behalf of Draslovka by FTI Consulting
For interviews or media enquiries, please contact:
Nicholas Brown
FTI Consulting
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DALLAS--(BUSINESS WIRE)--Atwell, LLC is pleased to promote Jeff Green to Project Manager in our Real Estate and Land Development group. Based in Atwell’s Dallas, Texas office, Jeff will be responsible for developing project objectives and guiding his team’s deliverables, monitoring project coordination and execution, maintaining project budgets and schedules, providing quality control, managing and developing client relationships, and promoting and expanding Atwell’s Commercial Development operations in the Western Region.
With a 30-year career in the surveying and civil engineering fields, Jeff Green brings tremendous technical and industry leadership to the firm, as well as a diverse project portfolio ranging in residential and commercial development, municipal and industrial facilities, and oil & gas pipeline design and management. Prior to joining Atwell, Jeff was a Survey Coordinator/Supervisor Tech Specialist where he oversaw the design operations on boundary and topographic surveys, control network projects, utility coordination, construction staking, along with cost tracking/estimating, document control, specification creation, and project schedule creation.
His background includes all facets of land development projects, from due diligence studies and planning to design, cost estimating, permitting, and construction-related services. He is particularly knowledgeable about zoning codes and helping clients navigate through the governmental approval process. He has been instrumental in the development of residential subdivisions, numerous commercial projects, and thousands of miles of Midstream pipelines throughout Texas and the Southern Region.
“Jeff is an accomplished leader with extensive experience in both public and private land development in all of the southwest region,” said Vice President Todd Janssen, “his ability to capture gains in efficiency and productivity on the projects he manages by identifying roadblocks while enhancing communication and collaboration between groups will make him a great leader to our team.”
Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance, and permitting, and project and program management.
Timothy Augustine, Senior Vice President
ATWELL, LLC
248.447.2005
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DUBLIN--(BUSINESS WIRE)--The "Global Oil Condition Monitoring Market" report has been added to ResearchAndMarkets.com's offering.
Oil is a fundamental element for powering engines and for lubricating moving components in assets in the transportation sector. Oil is a key element that impacts productivity and profitability, making it a priority for customers. By monitoring the quality and characteristics of the oil, asset health and efficiency can be monitored, and any issues can be resolved quickly.
Oil condition monitoring is commonly used to measure and analyze contamination and degradation in lubricants and fuel oils throughout their lifecycle, which is a key element in predictive maintenance, especially in most process industries. In addition, measuring the oil condition offers deep insights into equipment health, and by understanding the level of contamination and the element, fuel, water, or acid that caused the oil degradation and the loss of lubrication, subsequent damage can be avoided.
This research service focuses on the importance of oil condition monitoring, market gaps, trends, various distribution channels, factors driving and restricting market growth, and deep-dive competitor analysis based on existing market participants.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis - Oil Condition Monitoring Market
3. Growth Opportunity Universe - Oil Condition Monitoring Market
4. Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/1tyl0c
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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The partnership will initially focus on Battery Energy Storage Systems (BESS), starting with 20 MWh of projects in Ontario
SAN DIEGO--(BUSINESS WIRE)--PowerFlex, an EDF Renewables Company, and Hydro One Limited announced an agreement to co-develop Distributed Energy Resources (DER) solutions to the Ontario market. PowerFlex and Hydro One will start with joint ownership of two Battery Energy Storage Systems (BESS) projects, totaling 20 MWh in Ontario.
PowerFlex and Hydro One form a unique partnership that combines PowerFlex’s broad project experience with Hydro One’s local network for a seamless installation. PowerFlex is a division of EDF Renewables North America, a market-leading independent power producer and service provider with 35 years of expertise in renewable energy. This partnership will help accelerate the decarbonization of energy sources, providing greater choice to customers and increasing sustainability and resiliency in the area.
PowerFlex is providing a turnkey BESS that utilizes its proprietary Energy Management System (EMS), which includes computer-aided tools to monitor, control, and optimize the performance of a system. PowerFlex’s EMS provides users with real-time insights, historical reporting, asset dashboards, and consolidated billing.
“EDF Renewables has a long history of working in Canada, and we’re excited to partner with Hydro One to bring energy solutions that will continually strengthen the grid and support Ontario residents,” said Raphael Declercq, EVP Onsite Solutions & Strategy, EDF Renewables. “This collaboration provides PowerFlex access to resources and key relationships, resulting in smoothly-installed, optimized energy solutions for our customers.”
“Hydro One is committed to embracing innovative solutions to optimize our electricity grid through increasing our use of Distributed Energy Resources,” said Jason Rakochy, Senior Vice President, Strategy and Growth, Hydro One. “Through our partnership with PowerFlex, we are providing Ontarians with another sustainable energy option as we continue to support Ontario’s goal of becoming a low-carbon economy.”
About PowerFlex:
PowerFlex delivers commercial and industrial customers a full range of turnkey clean energy solutions: solar, storage, smart EV charging, microgrids, and energy management systems. The Company was founded in 2017 by a Caltech research group who developed a patented Adaptive Load Management (ALM) technology to optimize power consumption across a large network of charging stations. PowerFlex Systems was acquired by EDF Renewables North America in 2019, and consolidated with EnterSolar, a leading commercial solar developer, in 2021 to expand its onsite solar offerings. For more information, http://www.powerflex.com.
Emily Lau | PowerFlex | This email address is being protected from spambots. You need JavaScript enabled to view it.
Zeem’s depot near LAX includes electric trucks, shuttle buses and other vehicles, chargers, parking and more for local businesses to seamlessly electrify their fleets
INGLEWOOD, Calif.--(BUSINESS WIRE)--Fleet electrification provider Zeem Solutions today announced the grand opening of the first commercial EV transportation-as-a-service depot near Los Angeles International Airport. The depot, a hub for zero-emission vehicle services, is the largest commercial EV charging installation in the U.S. that supports medium- and heavy-duty electric vehicle fleets.
The LA-area depot is the first in a series that Zeem plans to build across the United States to enable medium- and heavy-duty fleet owners to electrify. The company owns and maintains electric trucks, vans, shuttle buses and other vehicles that are leased to fleets businesses that pay a monthly lease to use the vehicles. Zeem works with local utilities and renewable energy providers to ensure vehicles are charged using clean, reliable and low-cost energy. Customers get access to the vehicles, plus daily charging and parking at conveniently located depots that Zeem builds and operates – all for a monthly lease that costs less than owning and operating a gasoline or diesel-fueled fleet.
“Zeem’s first fleet electrification depot is open for business. Our business model – Transportation-as-a-Service or E-Fleet-as-a-Service – combines the latest commercial electric vehicles alongside reliable chargers purpose-built for fleet use in a centrally-located depot. This model enables fleets to transition to electric vehicles quickly, easily, and affordably at a time when they are under more and more pressure to do so,” said Paul Gioupis, CEO of Zeem Solutions. “We know that charging is the biggest challenge facing fleets as they transition to zero emission vehicles. Providing fast chargers alongside electric trucks and vans will allow our customers to switch from diesel vehicles to electric trucks and shuttles quickly, achieving cost and carbon emission reductions at the same time. Our vision at Zeem is to support thousands of zero-emission vehicles operating out of hundreds of depots like this around the country.”
Zeem's LAX electric fleet depot has 77 fast charging ports, 53 Level 2 chargers, a comfortable lounge where drivers can rest and recharge in between routes, and the capacity to charge and store more than 200 medium- and heavy-duty vehicles on-site and support hundreds more for opportunity charging. Fleets currently operating out of Zeem’s LAX depot include tour buses, airport shuttles, last-mile delivery vans and trucks, third-party logistics, mobility services, ridesharing and drayage operations. In addition to services for monthly subscribers, Zeem offers opportunity charging for high-mileage fleets for last-mile delivery and rideshare services who need a place to charge their vehicles.
“Zeem’s new depot is an important resource that will allow us to offer our customers the high-quality experience of Hollywood and Los Angeles that they expect, while gliding along in the comfort of a high-tech, zero-emission vehicle, with zero noise pollution as well” said Kami Farhadi, Owner of Starline Tours of Hollywood. “We love the convenience and access to low-cost charging and fleet services, especially as we adjust to driving electric. It’s also valuable to our business to contribute to Los Angeles’ ecotourism and appeal to sustainability-conscious travelers of today and tomorrow.”
About Zeem Solutions
Zeem Solutions builds and operates zero-emission fleet depots that transform the way medium- and heavy-duty fleets operate. Basic Transportation-as-a-Service amenities include vehicle leasing, vehicle charging, secured parking, vehicle maintenance and cleaning, and lounge space for drivers. In addition, depots are used for opportunity charging for high-mileage fleets as needed. Zeem is deploying depots in strategic locations to accelerate fleet electrification and zero emission mobility, serve as centers of technological innovation and support the growing clean energy economy. For more information, please visit www.zeemsolutions.com.
Bonnie Trowbridge
Zeem Solutions
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ORANGE, Conn.--(BUSINESS WIRE)--Today AVANGRID, Inc. (NYSE:AGR) announced that its Board of Directors declared a quarterly dividend of $0.44 per share on its Common Stock. This dividend is payable July 1, 2022 to shareholders of record at the close of business on June 3, 2022.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs approximately 7,000 people and has been recognized by JUST Capital in 2021 and 2022 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2022, AVANGRID ranked second within the utility sector for its commitment to the environment and the communities it serves. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. For more information, visit www.avangrid.com.
Investor Contact:
Alvaro Ortega
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207.629.7412
Strategic partnership will focus on development of new DG solar, DG storage and utility-scale standalone storage at FirstLight’s existing hydropower facilities in Massachusetts and Connecticut
BURLINGTON, Mass.--(BUSINESS WIRE)--FirstLight Power, a leading clean provider of renewable energy and energy storage resources, today announced its partnership with Borrego, a leading developer, EPC and O&M provider for large-scale renewable energy projects throughout the United States, to bring more clean energy to New England. As part of the partnership, Borrego will lead development efforts focused on building new distributed generation (DG) solar, DG storage, and utility-scale standalone storage at FirstLight’s hydropower facilities in Massachusetts and Connecticut. The partnership will accelerate the creation of innovative combined renewable energy and storage portfolios to deliver higher value offerings to wholesale and retail customers across New England.
“I am thrilled to partner with Borrego to accelerate New England’s path to a fully decarbonized electric grid by advancing innovative new solar and energy storage offerings to customers in Massachusetts and Connecticut,” said Alicia Barton, President and CEO of FirstLight. “Borrego has a long track record of bringing best-in-class renewable energy projects to life, and this partnership will allow FirstLight to build upon our leadership position as the largest owner and operator of energy storage and renewable energy in New England.”
The new collaboration will focus on developing solar and storage at FirstLight’s existing hydropower facilities in a way that centers reliability, affordability and equity. FirstLight already operates the largest portfolio of renewable energy generation projects in New England, and with this partnership, it will advance the company’s mission of creating an electric grid that is clean, affordable, reliable and equitable. The new developments will provide local jobs and increase FirstLight’s already substantial economic development impact in the local communities.
“Borrego’s partnership with FirstLight will help create innovative hybrid renewables solutions in New England – combining solar and energy storage resources with existing generation,” said Jared Connell, VP of Project Development in New England, of Borrego. “This kind of bold thinking around aggressive decarbonization is a big reason why we’re excited to work with FirstLight.”
The new storage and solar assets are poised to bring flexibility to FirstLight’s existing hydropower portfolio in Massachusetts and Connecticut. The strategic partnership will also bring a new generation of hybrid renewable energy resources to serve New England’s grid, setting a bold example for how diverse clean energy technologies should be combined to deliver maximum system value.
About FirstLight Power
FirstLight Power (FirstLight) is a leading clean power producer, developer and energy storage company in New England with a portfolio that includes nearly 1,400 megawatts of pumped-hydro storage, battery storage, hydroelectric generation, and solar generation – the largest clean energy generation portfolio in New England today. Based in Burlington, MA, with operating offices in Northfield, MA and New Milford, CT, FirstLight provides stewardship of and recreational access to 14,000 acres of land and waters along the Connecticut, Housatonic, Shetucket, Still, and Quinebaug Rivers. To learn more, visit www.firstlightpower.com.
About Borrego
Borrego, a leading developer, EPC, and O&M provider, accelerates the delivery of large commercial, community solar, and utility-scale solar and energy storage projects in the U.S. Borrego offers a broad range of renewable energy services and has a track record of superior performance in the hundreds of large solar and energy storage projects it has designed, built, and maintains throughout the U.S. Established in 1980, it has regional offices in California, Massachusetts, and New York with a nationwide footprint. Borrego creates value by helping partners make better decisions at critical points in every project's life. Its team brings deep technical expertise to its mission of solving the world's energy problems. For more information, visit www.borregoenergy.com.
Media:
For FirstLight:
Len Greene, Director of Government Affairs & Communications
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Travis Small, Slowey McManus Communications
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For Borrego:
Brooke Parker, Kiterocket
Cell: 402-639-0884, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Pro Forma Year-End 2021 Proved Reserves Total 598 MMBoe with $6.2 Billion SEC PV-10
Company Reiterates Its 2022 Capital Investment Outlook and Guidance
HOUSTON--(BUSINESS WIRE)--$CRGY--Crescent Energy Company (NYSE: CRGY) today announced the closing of its previously announced acquisition of Uinta Basin assets. Total cash consideration at closing was approximately $690 million.
Crescent CEO David Rockecharlie said, “We are excited to close this highly accretive transaction and expand our Rockies position. We were able to acquire these assets at a compelling valuation while maintaining our financial strength and flexibility. The transaction adds significant cash flow and a multi-year inventory of high-quality oil-weighted undeveloped locations to our existing asset base.”
Crescent Chairman John Goff said, “The Uinta transaction clearly demonstrates Crescent’s competitive strengths and ability to deliver shareholder value through accretive acquisitions. We continue to see significant opportunity in today’s market to create long-term value for our shareholders through consolidation.”
The Uinta transaction was funded on the Company’s revolving credit facility (the “Credit Facility”). At closing, Crescent’s lenders increased the borrowing base under the Credit Facility to $1.8 billion with an elected commitment amount of $1.3 billion, an increase of $600 million from the prior elected commitment amount of $700 million.
Crescent acquired approximately 30 MBoe/d (~65% oil) and approximately 145,000 contiguous net acres in the Uinta. The Company plans to operate two rigs on the Uinta assets for the remainder of the year. Crescent today reiterated its previously announced 2022 capital investment plan as well as production and cost guidance. The $600-$700 million 2022 capital program is allocated 80%-85% to its operated assets in the Eagle Ford and Uinta basins.
Including contribution from the acquired Uinta assets, Crescent’s pro forma year-end 2021 proved reserves totaled 598 MMBoe, of which 83% were proved developed and 55% were liquids, and proved PV-10 was $6.2 billion utilizing SEC pricing. The first year decline rate of Crescent’s proved developed producing reserves is 22%, based on production type curves used in the Company’s third party reserve reports.
|
Proved Reserves |
Present Value |
||||||||||
|
Net Oil |
Net Gas
|
Net NGL
|
Net Total
|
PV-0
|
PV-10
|
||||||
Proved Developed |
183 |
|
1,497 |
|
66 |
|
499 |
|
$8,449 |
|
$5,038 |
|
Proved Undeveloped |
70 |
|
113 |
|
10 |
|
99 |
|
2,467 |
|
1,175 |
|
Total Proved Reserves |
253 |
|
1,610 |
|
76 |
|
598 |
|
$10,916 |
|
$6,213 |
|
Note: Proved reserve estimates based on SEC pricing of $66.56 per Bbl for WTI oil and $3.60 per MMBtu for Henry Hub natural gas. Crescent’s proved reserves and associated PV-0 and PV-10 estimates as of December 31, 2021 as well as the reserves associated with the acquired Uinta basin assets were prepared or audited by its independent reserve engineers in accordance with applicable rules and guidelines of the Securities and Exchange Commission (“SEC”).
Commodity Hedging
Consistent with its risk management practices, the Company added additional oil hedges in conjunction with the Uinta transaction. Inclusive of expected Uinta volumes, Crescent now has derivatives in place on approximately 60% of expected 2022 total production (at the mid-point of guidance). The table below details the Company’s open commodity derivative contracts as of March 30, 2022.
WTI |
Brent |
Natural Gas |
NGLs |
||||||||||||||
Volume
|
Avg Price
|
Volume
|
Avg Price
|
Volume
|
Avg Price
|
Volume
|
Avg Price
|
||||||||||
Q1'22 |
2,862 |
$61.67 |
123 |
$56.35 |
22,534 |
$2.79 |
914 |
$17.20 |
|||||||||
Q2'22 |
3,715 |
$65.20 |
125 |
$56.35 |
21,690 |
$2.77 |
873 |
$17.13 |
|||||||||
Q3'22 |
3,580 |
$64.59 |
126 |
$56.36 |
20,634 |
$2.76 |
610 |
$29.87 |
|||||||||
Q4'22 |
3,301 |
$64.08 |
126 |
$56.36 |
20,180 |
$2.78 |
587 |
$29.74 |
|||||||||
2023 |
10,865 |
$59.78 |
527 |
$52.52 |
57,278 |
$2.54 |
-- |
-- |
|||||||||
2024 |
5,721 |
$63.82 |
276 |
$68.65 |
9,604 |
$3.56 |
-- |
-- |
|||||||||
Note: Includes hedges from January 1, 2022 through December 31, 2024. Included in the figures above are minor Henry Hub collar positions totaling 510 BBtu, 550 BBtu, and 9,150 BBtu in Q1 2022, 2023 and 2024, respectively. For the same periods, these collars have a weighted average floor price of $3.00 / MMBtu, $2.63 / MMBtu and $3.00 / MMBtu, respectively and a weighted average ceiling price of $3.41 / MMBtu, $3.01 / MMBtu and $3.87 / MMBtu, respectively. Also included in the figures above are WTI collars totaling 1,155 MBbl for 2023 with a weighted average floor and ceiling price of $48.68 / Bbl and $57.87 / Bbl, respectively. Weighted average price for collar positions in the table above calculated using March 29, 2022 strip pricing.
About Crescent Energy Company
Crescent is a well-capitalized, U.S. independent energy company with a portfolio of assets in key proven basins across the lower 48 states and substantial cash flow supported by a predictable base of production. Crescent’s core leadership team is a group of experienced investment, financial and industry professionals who continue to execute on the strategy management has employed since 2011. The Company’s mission is to invest in energy assets and deliver better returns, operations and stewardship. For additional information, please visit www.crescentenergyco.com.
Cautionary Statement Regarding Forward-Looking Information
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations, including with respect to the Uinta Acquisition. The words and phrases “should”, “could”, “may”, “will”, “believe”, “plan”, “intend”, “expect”, “potential”, “possible”, “anticipate”, “estimate”, “forecast”, “view”, “efforts”, “goal” and similar expressions identify forward-looking statements and express the Company’s expectations about future events. All statements, other than statements of historical facts, included in this communication that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the Company’s control. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics such as COVID-19, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of armed conflict, including in Ukraine, the timing and success of business development efforts, and other uncertainties. Consequently, actual future results could differ materially from expectations. The Company assumes no duty to update or revise their respective forward-looking statements based on new information, future events or otherwise.
Company Contact
For additional information, please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it..
Emily Newport
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LOI With KfW IPEX-Bank for a Further US$50 Million for Downstream Funding
TORONTO--(BUSINESS WIRE)--Almonty Industries Inc. (“Almonty” or the “Company”) (TSX: AII / ASX: AII / OTCQX: ALMTF / Frankfurt: ALI) is pleased to announce it is investigating the construction of a vertically integrated nano tungsten oxide downstream processing plant (Sangdong Downstream Extension Project) to supply the South Korean battery anode manufacturing industry and the execution of a letter of intent (LOI) for the funding of the Sangdong Downstream Extension Project with the Company’s existing debt provider, KfW IPEX-Bank, for the funding of the Sangdong Downstream Extension Project.
Almonty’s Chairman, President and CEO Lewis Black commented:
“The battery and semiconductor industry offers massive additional growth potential for the tungsten market and specifically for Almonty in South Korea. As the largest per capita consumer users of tungsten globally and with some of the largest semiconductor and battery manufacturers in the world located in South Korea, we are very pleased to be investigating this key growth initiative to supply the green energy revolution which should add further layers of value to the Sangdong Tungsten Mine and Almonty as a company.
We are also pleased to have the continued support of KfW IPEX-Bank who have signed a LOI to provide a further US$50m of debt funding for the Sangdong Downstream Extension Project.”
Sangdong Downstream Extension Project
Demand for tungsten has been growing due to rising demand for semiconductors from the automotive, industrial and consumer electronics industries, powered by remote working and learning trends as well as business digitalization. The growing EV market has led to the development of new battery technologies, such as Niobium Tungsten Oxide (NWO) batteries that uses NWO anodes based on nano Tungsten Oxide Powder to improve life cycles, cost efficiency & fast charging technologies. Almonty understands that the use of nano Tungsten Oxide Powder, due to their high intrinsic density and rich framework diversity as well as heat resistance, increases the safety features of the battery. The battery industry also directly implements tungsten oxide into their formulations for anodes and cathodes.
South Korea is the largest per capita consumer of tungsten worldwide, however it imports 94.7% of its tungsten oxide from China. Further, South Korea consumes ~40% of global Tungsten Hexafluoride gas (WF6), which is used in the production of semiconductors, the raw material of which is nano tungsten oxide which Almonty is investigating production of.
Given South Korea’s continuing and increasing demand for tungsten and the fact that Almonty is the only tungsten miner in the country, the Company has been in constant dialogue and has a strong relationship with the South Korea government.
In order to generate additional returns from the Sangdong Tungsten Mine, Almonty has therefore undertaken high level investigation of a vertically integrated nano tungsten oxide downstream processing plant which would be located on-site at the Sangdong Tungsten Mine.
The initial parameters that the Company has outlined for the Nano Tungsten Oxide Downstream Processing Plant include:
The initial investigation report has now been completed and discussions are ongoing with the South Korean Government and the major South Korean consumers how best to accelerate this program. The current timeline is that this program would run concurrently with the build out and reopening of the Sangdong mine currently underway. Once this tungsten program has been clearly defined and initiated, the Company and the South Korean Government would then look at a similar downstream domestic consumption program for the Company’s Molybdenum project also located at the Sangdong mine where South Korea is now the 4th largest importer of Molybdenum in the World.
LOI for US$50m Funding from KfW IPEX-Bank
Following a period of initial due diligence, Almonty is pleased to also announce it has signed a LOI for US$50m funding from KfW IPEX-Bank for the Downstream Extension Project.
KfW IPEX-Bank is the German 100% state-owned development bank which after extensive environmental and commercial project due diligence which confirmed our project’s quality, separately provided a US$75.1 million project debt facility for the construction of the Sangdong Tungsten Mine at the very low interest rate of LIBOR/SOFR +2.5%.
Almonty does note that whilst this LOI is positive it is not a formal offer of finance or a representation that financing will be available and does not create any form of legal or other obligation on KfW IPEX-Bank whatsoever. The LOI is non-binding and remains subject to satisfactory due diligence, all relevant approvals (including credit approvals and other internal approvals), execution of relevant project and finance documentation under a contractual framework satisfactory to KfW IPEX-Bank and fulfilment of any applicable conditions precedent set out in definitive financing documentation.
About Almonty
The principal business of Toronto, Canada-based Almonty Industries Inc. is the mining, processing and shipping of tungsten concentrate from its Los Santos Mine in western Spain and its Panasqueira mine in Portugal as well as the development of its Sangdong tungsten mine in Gangwon Province, South Korea and the development of the Valtreixal tin/tungsten project in north western Spain. The Los Santos Mine was acquired by Almonty in September 2011 and is located approximately 50 kilometres from Salamanca in western Spain and produces tungsten concentrate. The Panasqueira mine, which has been in production since 1896, is located approximately 260 kilometres northeast of Lisbon, Portugal, was acquired in January 2016 and produces tungsten concentrate. The Sangdong mine, which was historically one of the largest tungsten mines in the world and one of the few long-life, high-grade tungsten deposits outside of China, was acquired in September 2015 through the acquisition of a 100% interest in Woulfe Mining Corp. Almonty owns 100% of the Valtreixal tin-tungsten project in north- western Spain. Further information about Almonty’s activities may be found at https://almonty.com/ and under Almonty’s profile at www.sedar.com.
Legal Notice
The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this announcement is released, published or distributed should inform themselves about and observe such restrictions.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. These statements and information are based on management’s beliefs, estimates and opinions on the date that statements are made and reflect Almonty’s current expectations.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Almonty to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: any specific risks relating to fluctuations in the price of ammonium para tungstate (“APT”) from which the sale price of Almonty’s tungsten concentrate is derived, actual results of mining and exploration activities, environmental, economic and political risks of the jurisdictions in which Almonty’s operations are located and changes in project parameters as plans continue to be refined, forecasts and assessments relating to Almonty’s business, credit and liquidity risks, hedging risk, competition in the mining industry, risks related to the market price of Almonty’s shares, the ability of Almonty to retain key management employees or procure the services of skilled and experienced personnel, risks related to claims and legal proceedings against Almonty and any of its operating mines, risks relating to unknown defects and impairments, risks related to the adequacy of internal control over financial reporting, risks related to governmental regulations, including environmental regulations, risks related to international operations of Almonty, risks relating to exploration, development and operations at Almonty’s tungsten mines, the ability of Almonty to obtain and maintain necessary permits, the ability of Almonty to comply with applicable laws, regulations and permitting requirements, lack of suitable infrastructure and employees to support Almonty’s mining operations, uncertainty in the accuracy of mineral reserves and mineral resources estimates, production estimates from Almonty’s mining operations, inability to replace and expand mineral reserves, uncertainties related to title and indigenous rights with respect to mineral properties owned directly or indirectly by Almonty, the ability of Almonty to obtain adequate financing, the ability of Almonty to complete permitting, construction, development and expansion, challenges related to global financial conditions, risks related to future sales or issuance of equity securities, differences in the interpretation or application of tax laws and regulations or accounting policies and rules and acceptance of the TSX of the listing of Almonty shares on the TSX.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to, no material adverse change in the market price of ammonium para tungstate (APT), the continuing ability to fund or obtain funding for outstanding commitments, expectations regarding the resolution of legal and tax matters, no negative change to applicable laws, the ability to secure local contractors, employees and assistance as and when required and on reasonable terms, and such other assumptions and factors as are set out herein. Although Almonty has attempted to identify important factors that could cause actual results, level of activity, performance or achievements to differ materially from those contained in forward-looking statements, there may be other factors that cause results, level of activity, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and even if events or results described in the forward-looking statements are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, Almonty. Accordingly, readers should not place undue reliance on forward-looking statements and are cautioned that actual outcomes may vary.
Investors are cautioned against attributing undue certainty to forward-looking statements. Almonty cautions that the foregoing list of material factors is not exhaustive. When relying on Almonty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Almonty has also assumed that material factors will not cause any forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF ALMONTY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD- LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE ALMONTY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Lewis Black
Chairman, President and CEO
Telephone: +1 647 438-9766
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Company confirms no material misstatements or restatements of previously filed financial statements following completion of investigation
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Redwire Corporation (NYSE: RDW; “Redwire” or “the Company”) announces that it will report fourth quarter 2021 earnings after the markets close on Thursday, March 31, 2022, and hold its year-end earnings conference call and audio webcast at 5:30 P.M. ET on Thursday, March 31, 2022.
In addition, Redwire confirms that the previously announced independent investigation into potential accounting issues at a business subunit is resolved. Following a thorough and comprehensive review, the Company’s independent Audit Committee of the Board of Directors along with independent, external legal and accounting firms, completed the investigation and did not identify any material misstatements or the need for any restatements of Redwire’s previously filed financial statements. Redwire is pleased to have concluded the internal investigation and looks forward to continuing to execute its strategic objectives. As previously disclosed, the Company self-reported this matter to the SEC on November 8, 2021 and intends to continue to cooperate with any requests from the SEC.
The Company is working with its external auditor to complete the 2021 audit and expects to file a Form NT 10-K on March 31, 2022, indicating a short-term delay in filing the 2021 Form 10-K as the Company requires additional time to complete the annual audit process. However, the Company expects to file both the third quarter 2021 Form 10-Q and the 2021 Form 10-K on or before April 15, 2022 during the 15 day grace period, resulting in a timely filing of the Form 10-K.
"We'd like to thank our loyal shareholders for supporting us over the last quarter. We are an emerging growth company with a steadfast commitment to delivering for our customers. We believe this approach will lead to enduring value creation over the long term," said Peter Cannito, Redwire Chairman and CEO. "We look forward to sharing our 2021 results and 2022 outlook with you on the earnings call."
---
The earnings conference call can be accessed by calling 877-485-3108 (toll-free) or +1 201-689-8264 (toll). The listen-only audio webcast of the call will be available on the Redwire Investor Relations website: https://ir.redwirespace.com/. Please call in or log on at least five minutes in advance of the scheduled start time.
For those who are unable to listen to the live event, a replay will be available for two weeks following the event by dialing 877-660-6853 (toll-free) or 201-612-7415 (toll) and entering the access code 13728349. To access the webcast replay, which will be available for up to a year following the event, visit https://ir.redwirespace.com/.
The earnings release and other information related to the earnings announcement will be available on https://ir.redwirespace.com.
About Redwire
Redwire Corporation (NYSE: RDW) is a leader in space infrastructure for the next generation space economy, with valuable IP for solar power generation and in-space 3D printing and manufacturing. With decades of flight heritage combined with the agile and innovative culture of a commercial space platform, Redwire is uniquely positioned to assist its customers in solving the complex challenges of future space missions. For more information, please visit www.redwirespace.com.
Investor Contact:
Michael Shannon
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904-425-1413
Three-year Initiative will Improve Traffic Flow and Safety, and Reduce Carbon Emissions Across Four IDOT Districts in Central and Southern Illinois
GENEVA, Ill.--(BUSINESS WIRE)--$ITI #IoT--Iteris, Inc. (NASDAQ: ITI), the world’s trusted technology ecosystem for smart mobility infrastructure management, today announced that it has been selected by the Illinois Department of Transportation (IDOT) Districts Six through Nine for various traffic signal synchronization projects, representing continued demand for Iteris’ specialized consulting services in a key geographic market.
Under the terms of the three-year contract, Iteris will develop optimized traffic signal coordination and timing plans at heavily travelled corridors in Central and Southern Illinois, and respond in the field to traffic signal and system operational issues, complaints, and other needs on short notice. The primary goal is to improve traffic flow and safety for all road users, including vehicles, buses, bicycles and pedestrians, by providing updated signal timing and signal synchronization along the corridors being analyzed. The signal coordination and timing work will include data collection, data analysis to generate optimal signal operation plans, implementation, and evaluation.
The program supports IDOT’s goals to significantly reduce statewide travel time, fuel consumption and greenhouse gas emissions, while improving safety and mobility, and the overall travel experience for all road users. By reducing delays and stops on key corridors for passenger vehicles and heavy vehicles, the project will help reduce CO2 emissions and fuel consumption, which in turn will contribute to sustainable environmental and air quality improvements.
“We are proud to support IDOT’s goals of improving safety, mobility and sustainability for all road users in the state by embarking on this traffic signal synchronization project,” said Cliff Heise, regional vice president, Mobility Professional Services at Iteris. “This initiative expands on Iteris’ depth in traffic engineering and consulting services in the Midwest, and will maximize the effectiveness of the region’s traffic signal infrastructure, while improving air quality and reducing fuel consumption.”
About Iteris, Inc.
Iteris is the world’s trusted technology ecosystem for smart mobility infrastructure management. Delivered through Iteris’ ClearMobility Platform, our cloud-enabled end-to-end solutions monitor, visualize and optimize mobility infrastructure around the world, and help bridge legacy technology silos to unlock the future of transportation. That’s why more than 10,000 public agencies and private-sector enterprises focused on mobility rely on Iteris every day. Visit www.iteris.com for more information, and join the conversation on Twitter, LinkedIn and Facebook.
Iteris Forward-Looking Statements
This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," “should,” “will,” "can," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the awarded contract and our services. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict, and actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.
Important factors that may cause such a difference include, but are not limited to, our ability to provide our services and solutions in a cost-efficient manner; government funding and budgetary delays, issues and timing; the potential impact of product and service offerings from competitors and other competitive pressures; and the impact of general economic, political and other conditions in the markets we address. Further information on Iteris, Inc., including additional risk factors that may affect our forward-looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K, and our other SEC filings that are available through the SEC’s website (www.sec.gov).
Media Contact
David Sadeghi
Tel: (949) 270-9523
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Investor Relations
MKR Investor Relations, Inc.
Todd Kehrli
Tel: (213) 277-5550
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MINNEAPOLIS--(BUSINESS WIRE)--On Thursday, April 28, 2022, Xcel Energy (NASDAQ: XEL) will host a conference call to review first quarter 2022 financial results. Earnings will be released prior to the opening of trading.
The call will begin at 9:00 a.m. Central Time. To participate in the conference call, please dial in at least 5-10 minutes prior to the scheduled start and follow the operator’s instructions. You will be asked for the conference ID number.
US Dial-In: 800-289-0720
International Dial-In: 400-120-9264
Conference ID: 7267038
The conference call will also be simultaneously broadcast and archived on our website, along with an MP3 download, at the following location:
http://www.xcelenergy.com
Under Company, select: Investors
If you are unable to participate in the live event, the call will be available for replay from 12:00 p.m. on April 28 through 12:00 p.m. on May 1, Central Time.
Replay Numbers
US Dial-In: 888-203-1112
International Dial-In: 719-457-0820
Replay Passcode: 7267038
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
Financial analysts may call:
Paul Johnson, Vice President - Treasurer & Investor Relations 612-215-4535
News media inquiries please call: Xcel Energy Media Relations 612-215-5300
Internet: www.xcelenergy.com
DUBLIN--(BUSINESS WIRE)--The "Middle-East Oilfield Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The Middle-East Oilfield Services Market is expected to grow with a CAGR of 5.5% during the forecast period
The COVID-19 pandemic had a highly adverse impact on the oilfield services market. The unprecedented collapse in oil demand caused by the pandemic resulted in a halt in greenfield investments by the upstream companies and delays in the ongoing projects. Thus, the demand for oilfield services reduced during the pandemic, which got reflected in low revenues for the industry players.
As an example, Halliburton, one of the leading players, recorded the revenue for 2020 as USD 14.44 billion, a 35% reduction as compared to 2019, which was around USD 22.4 billion. The Middle-East oilfield services market is likely to grow in the future due to the steadily increasing natural gas demand from the developing economies in the region as well as outside the region, which may result in new production projects in the coming years, and the growth in private participation in the oil and gas industry.
However, the rise in momentum towards cleaner energy sources in almost every country is expected to beat the oil and gas demand at the regional as well as global level.
Key Highlights
Drilling Services Expected to Witness Significant Growth
Saudi Arabia to Witness a Significant Growth
Competitive Landscape
The Middle-East oilfield services market is fragmented. The key players in this market include Baker Hughes Co., Halliburton Company, Schlumberger NV, Middle-East Oilfield Services LLC, and Weatherford International plc. among others.
For more information about this report visit https://www.researchandmarkets.com/r/c1e7n7
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--Hess Midstream LP (NYSE: HESM) (“HESM”) today announced the upsizing and pricing of an underwritten public offering of an aggregate 8,900,000 Class A shares representing limited partner interests in HESM by a subsidiary of Hess Corporation and an affiliate of Global Infrastructure Partners (the “Selling Shareholders”), at a public offering price of $29.50 per Class A share. The offering was upsized from the previously announced 7,900,000 Class A shares. The Selling Shareholders have granted the underwriters a 30-day option to purchase up to 1,335,000 additional Class A shares at the public offering price less underwriting discounts and commissions.
The gross proceeds from the sale of Class A shares by the Selling Shareholders are expected to be approximately $262,550,000. HESM will not receive any proceeds from the sale of Class A shares in the offering. The offering is expected to close on April 4, 2022, subject to customary closing conditions.
Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC are acting as joint bookrunning managers of the offering.
The offering of these securities is being made only by means of the prospectus supplement and accompanying base prospectus as filed with the Securities and Exchange Commission (the “SEC”). Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained free of charge on the SEC’s website at www.sec.gov under HESM’s name or from the underwriters of the offering as follows:
Citigroup Global Markets Inc.
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: 800-831-9146
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Goldman Sachs & Co. LLC
Attn: Prospectus Department
200 West Street
New York, New York 10282
Telephone: 866-471-2526
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
The Class A shares are being offered and will be sold pursuant to an effective shelf registration statement that was previously filed with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities described above, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Hess Midstream LP
HESM is a fee-based, growth-oriented midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess Corporation and third-party customers. HESM owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of U.S. securities laws. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. You should keep in mind the risk factors and other cautionary statements in the filings made by HESM with the SEC, which are available to the public. HESM undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
REG introduces EnDura Fuels™, including the latest innovation in biodiesel, and bolsters decarbonization commitments for transport industry by fueling a more sustainable future, today
AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (NASDAQ: REGI) (REG), a leading bio-based diesel producer in North America, announced today the introduction of a line of branded fuel solutions, EnDura Fuels™. This branded product launch supports Renewable Energy Group’s ongoing efforts to help the transport industry meet its sustainability and business growth objectives, while strengthening the Company’s position in the marketplace.
The EnDura Fuels™ line consists of five bio-based diesel fuels including Renewable Energy Group’s newest product, PuriD™, a next-generation biodiesel. PuriD™ exceeds industry quality standards and enables customers to blend PuriD™ into renewable diesel at virtually any level and utilize higher biodiesel blends with petroleum diesel year-round.
These solutions are helping the trucking, rail, marine, aviation and other industries meet their sustainability targets through cleaner burning, lower emission fuels. With advances in policy and increasing consumer awareness and demand for carbon reduction, fuels like biodiesel, renewable diesel and other renewable fuels are an important element of business strategy for every fuel-dependent entity. A recent study1 revealed that 91% of fleet leaders feel significant pressure to set and meet aggressive sustainability goals.
“At REG, we’re helping to redefine what’s possible with the cleaner fuel solutions that we are unveiling, which allow us to immediately serve our customers and the world as the clean energy transition partner of choice,” said Cynthia (CJ) Warner, President and CEO of Renewable Energy Group. “Bio-based diesel can play an essential role in helping the entire transport industry reduce carbon emissions, and our customers are already seeing great success with our line of fuels, including our latest fuel innovation, PuriD™, and our flagship product Ultra Clean BlenD™.”
The transportation industry is responsible for 29%2 of all U.S. carbon emissions, with trucking the largest contributor. Biodiesel and renewable diesel generate the greatest reduction in fossil carbon emissions, up to 100%, when compared with other alternatives in the transportation sector.
EnDura Fuels™ Product Line:
REG introduced the following high quality, cleaner fuel brands to the market:
InfiniD™ |
High-quality biodiesel for use in most diesel applications |
PuriD™ |
Next-generation biodiesel for use in higher biodiesel blending year-round in most markets and for blending with renewable diesel |
VelociD™ |
Clean-burning, renewable diesel that can be blended at almost any level |
Ultra Clean BlenD™ |
100% renewable fuel made from a blend of VelociD™ and PuriD™ |
BeyonD™ |
Low fossil carbon Sustainable Aviation Fuel (SAF) |
As part of the REG EnDura Fuels™ branded product launch, REG hosted partners and clients, including Manchester United, J.B. Hunt, Canadian National Railway Company (CN) and Booster for discussions about the state of the renewable fuels industry today, focusing on the vital role bio-based diesel can play in helping the energy and transportation industries transition to clean-energy solutions.
“Improving the environmental sustainability of our operations is a key area of focus for our business,” said Craig Harper, Chief Sustainability Officer and Executive Vice President for J.B. Hunt. “Alternative fuels, such as the new EnDura Fuels™ branded product line from REG, play a pivotal role in helping our organization and industry reduce our carbon footprint. Today, more than 50% of all fuel purchased by J.B. Hunt is a bio-blended diesel product.”
To learn more about Renewable Energy Group’s newest branded product line, visit www.regi.com.
About Renewable Energy Group
Renewable Energy Group is leading the energy and transportation industries’ transition to sustainability by converting renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 11 biorefineries in the U.S. and Europe. In 2021, Renewable Energy Group produced 480 million gallons delivering 4.1 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future. For more information about REG and its sustainable fuel solutions, visit regi.com.
Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding REG’s strategic growth plans, activities to support the adoption of renewable fuels by the transport industry, customer demand for low carbon fuels and the attributes of the EnDura Fuels™. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the failure of REG to achieve their strategic growth plans, customer’s desire for clean fuel options, the inability of customers to successfully blend fuels, changing sustainability targets and consumer interest which could reduce the need for lower carbon fuels, failure of legislative efforts to promote renewable fuels, increased competition from other low carbon fuel suppliers, changing standards applicable to renewable fuels which may require different manufacturing processes and requalification of our fuels, the availability and promotion of electric vehicles, and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2021 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
Third party trademarks are used herein and are the property of their respective owners and may be used for identification purposes.
_________________________________
1 https://www.automotive-fleet.com/10155197/fleet-leaders-express-sustainability-concerns-in-samsara-survey
2 https://www.epa.gov/ghgemissions/sources-greenhouse-gas-emissions
Katie Stanley
REG
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515-357-9085
MUNICH--(BUSINESS WIRE)--Independence from fossil fuels is key for climate protection – and is of relevance for security policy in light of Russia’s war in Ukraine. Europe must make enormous strides towards renewable energies in order to achieve climate targets and ensure security of supply. At The smarter E Europe – Europe's largest platform for the energy industry – 1,450 exhibitors will present innovative products and solutions to 50,000 trade visitors over an exhibition area of 132,000 m2 from May 11 to 13 in Munich.
Rising electricity and gas prices and dependence on Russian gas are giving the energy transition a tailwind. The transition is urgently needed, and possible: photovoltaics (PV) have been successful for two decades, the energy storage industry has been gaining traction for ten years, and electromobility and charging infrastructure are booming. The solutions for an independent energy supply are ready - now it is time to deploy them sustainably. Renewable energy, decentralization, digitalization, sector coupling, smart and networked energy systems as well as smart charging systems and e-mobility are the focus of The smarter E Europe 2022. Another key topic is green hydrogen. At the exhibition, the “Green Hydrogen Forum & Expo” will provide important impetus for bringing hydrogen, fuel cells, electrolysis and power-to-gas technology to the markets at an accelerated pace.
Focus on energy and mobility transition
The smarter E Europe includes four energy exhibitions: Intersolar Europe, ees Europe, Power2Drive Europe and EM-Power Europe. At Intersolar Europe, companies will present cell concepts and modules as well as inverters and solutions for building-integrated PV, agri-PV (simultaneous land use for agriculture and electricity production using PV systems) and floating PV systems. However, solar power alone does not make an energy transition; rather, what is needed is integrated solutions for a full supply of renewable energy 24/7 and across all seasons. The focus of ees Europe 2022 will therefore be on storage technologies, and in particular battery storage and green hydrogen.
Renewable energy and interconnected energy systems are closely linked to the goal of climate neutrality and the need to reassess security of supply. EM-Power Europe will therefore present smart grid solutions, smart buildings and neighborhoods, and digital business models for municipal utilities and energy providers. Power2Drive Europe will demonstrate the interconnectedness of new energies and mobility and explore everything related to the mobility of the future. This includes in particular intelligent charging solutions, vehicle-to-grid technologies, solar charging infrastructure and e-vehicles.
On May 10 – the day before the exhibition opens – visitors to the accompanying specialist conferences will discover all facets of the new energy world. In the evening, the industry innovation drivers will be honored with the Intersolar AWARD, the ees AWARD and The smarter E AWARD. Exhibition forums and workshops will bring visitors together with key industry representatives.
The smarter E Europe, which encompasses the four individual exhibitions will take place from May 11–13, 2022, at Messe München.
The original source-language text of this announcement is the official, authoritative version. Translations are provided as an accommodation only, and should be cross-referenced with the source-language text, which is the only version of the text intended to have legal effect.
Contact:
Solar Promotion GmbH | PO Box 100 170 | 75101 Pforzheim
Horst Dufner | Tel.: +49 7231 58598-0 | Fax: +49 7231 58598-28
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Press contact:
fischerAppelt, relations | Otl-Aicher-Str. 64 | 80807 Munich
Felizia Rein| Tel. +49 89 74 74 66 40
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WILLISTON, Vt.--(BUSINESS WIRE)--iSun, Inc. (NASDAQ: ISUN) (the “Company”, or “iSun”), a leading solar energy and clean mobility infrastructure company with 50-years of experience accelerating the adoption of innovative electrical technologies, today announced that it will reschedule the release of its results for fourth quarter and full-year 2021, along with the corresponding conference call to discuss these results. Previously scheduled to be released on Wednesday, March 30th, 2022, results will now be released in early April, and will be followed by a conference call to review the Company’s financial results, discuss recent events and conduct a question-and-answer session. iSun will announce details pertaining to the timing of the results and call as soon as they become available.
About iSun Inc.
Since 1972, iSun has accelerated the adoption of proven, life-improving innovations in electrification technology. iSun has been the trusted electrical contractor to Fortune 500 companies for decades and has installed clean rooms, fiber optic cables, flight simulators, and over 400 megawatts of solar systems. The Company currently provides a comprehensive suite of solar services across residential, commercial, industrial & municipal, and utility scale projects and provides solar electric vehicle charging solutions for both grid-tied and battery backed solar EV charging systems. iSun believes that the transition to clean, renewable solar energy is the most important investment to make today and is focused on profitable growth opportunities. Please visit www.isunenergy.com for additional information.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, effective tax rate, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this press release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.
IR Contact:
Tyler Barnes
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802-289-8141
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