BELOIT, Wis.--(BUSINESS WIRE)--#FMD--Fairbanks Morse Defense (FMD), a portfolio company of Arcline Investment Management, has been awarded a contract by Newport News Shipbuilding (NNS) to provide essential parts through Hunt Valve for the Ford Class aircraft carriers CVN 78 – CVN 81. The contract, valued at approximately $2 million, covers parts that will be delivered during the second and third quarters of 2022. Hunt Valve, acquired by Fairbanks Morse Defense in 2021, manufactures valves and electromechanical actuators for naval defense applications.
This contract reinforces FMD’s position as a critical supplier to its core naval defense customers. Having traditionally been a naval engine supplier, Fairbanks Morse Defense has expanded into a single-source product and service solutions provider for the entire vessel. Over the last 18 months, the defense contractor has been acquiring a number of companies, including Hunt Valve, and currently offers a large array of best-in-class marine technologies, OEM parts and turnkey services for the entire vessel to ensure Navy and Coast Guard fleets are always mission ready.
“Every ship and every shipyard play a crucial role in advancing American interests and countering our rivals at sea. Fairbanks Morse Defense and our sub-brands are deeply committed to supporting our country’s critical naval operations with American-made OEM parts throughout the ship,” said FMD CEO George Whittier. “In light of the post-pandemic supply chain challenges and uncertainty about the war in Ukraine, NNS is being extremely prudent by stocking the parts necessary.”
Earlier this year, Vice Admiral Roy Kitchener, commander of naval surface forces, spoke with maritime defense industry leaders about the need for prioritizing ship maintenance and crew training to ensure fleets are fully mission-capable. This vital initiative includes analyzing the Navy’s current and projected requirements for maintenance, spare parts and labor. By streamlining maintenance services, parts and labor through a single provider such as Fairbanks Morse Defense, the Navy will be able to accomplish this goal while reducing time and costs.
About Fairbanks Morse Defense (FMD)
Fairbanks Morse Defense (FMD) builds, maintains, and services the most trusted naval power and propulsion systems on the planet. For more than 100 years, FMD has been a principal supplier of a growing array of leading marine technologies, OEM parts, and turnkey services to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, and Canadian Coast Guard. FMD stands ready to rapidly support the systems that power military fleets without compromising safety or quality. In times of peace and war, the experienced engineers, sailors, and technicians of FMD demonstrate our commitment to supporting the mission and vision of critical global naval operations wherever and whenever needed. FMD is a portfolio company of Arcline Investment Management.
To learn more, visit www.FairbanksMorseDefense.com.
Fairbanks Morse Media Contact:
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Fully Contracted Plant Will Serve International Demand for Secure Sources of Renewable Energy and Help Decarbonize Difficult-to-Abate Industries such as Steel, Cement, Lime, and Sustainable Aviation Fuels
BETHESDA, Md.--(BUSINESS WIRE)--#Bioenergy--Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainable wood bioenergy, today announced it will invest approximately $250 million in Bond, Mississippi to build a new wood pellet production plant. The facility is a key component of the company’s growth strategy to double production capacity from the current 6.2 million metric tons annually to approximately 13 million metric tons annually over the next five years.
“Markets for our renewable products have been growing rapidly as countries look for new ways to reduce their dependence on coal, natural gas, and other fossil fuels for heat and power generation. Demand from manufacturers driving to reach ‘net-zero’ by decarbonizing industrial production of steel, cement, lime, and sustainable aviation fuel is also growing rapidly for us,” said John Keppler, Enviva’s Chairman and CEO. “And in an increasingly volatile geopolitical environment, countries and companies around the world are seeking security of supply from stable partners like the U.S. This new facility, the community in which it operates, and the tremendous people who support it every day will continue Mississippi’s strong tradition of helping friends across the globe secure energy independence and win the fight against climate change,” he added.
The facility site, directly off Highway 49 in Bond, was selected in close collaboration with Governor Tate Reeves, the Mississippi Development Authority, and Stone County officials.
The plant is fully contracted under long-term take-or-pay supply contracts with customers around the world, providing for durable, positive economic impact to the community. In addition to creating around 100 local jobs with wages projected to be approximately 70 percent higher than the county average, the Bond plant will generate more than $1 million in taxes per year for the county and school district and deliver over $250 million annually in economic impact in the region. Once operational, the plant will support more than 350 jobs, including those in related industries such as logging and transportation.
The new plant in Stone County joins two other Enviva facilities in Mississippi, one in Amory, which is Enviva’s first production plant in the state, and the company’s most recent manufacturing facility in Lucedale. The company also owns and operates a deep-water marine terminal at the Port of Pascagoula from which pellets are shipped to customers in Europe and Asia. Combined, Enviva’s total investment in the Magnolia State is more than $600 million and supports over 850 direct and indirect jobs in Mississippi.
“We very much appreciate the skilled workforce and great business environment in the state. I want to thank Governor Reeves, his team, and the Stone County community for being such great partners during site selection,” Enviva’s John Keppler said.
"Enviva’s decision to invest a quarter of a billion dollars and create 100 new jobs in Mississippi is another tremendous win for our state's economy. It's further proof that Mississippi is a prime location for manufacturing. I'm incredibly proud that these wood pellets, produced right here by hardworking and skilled Mississippians, will be distributed and used around the globe. I'd like to thank Chairman and CEO John Keppler and the entire Enviva team for their dedication to our state and all that they have done to bolster Stone County and its residents. We look forward to our continued partnership for many years to come," said Governor Tate Reeves.
Construction is expected to begin in early 2023, subject to receiving the necessary permits, and is expected to take approximately 18 months. The Bond plant is expected to have a production capacity of more than 1 million metric tons of wood pellets per year.
Mississippi has a robust fiber supply basket, and the plant intends to use low-value and low-grade softwood and hardwood fiber sustainably sourced within 75 miles of the facility, creating durable markets for local landowners and incentives to keep land as forests. The facility will use state-of-the-art environmental control technology to minimize any impact from the plant’s operation on the community.
“Stone County was founded on the timber industry more than a hundred years ago. Our citizens have long respected the woods and the natural resources they provide. With the announcement of Enviva, we have an opportunity to produce a record number of new jobs because of the plentiful resources in Stone County. Our most important asset, our people, will benefit from the growth we will experience for decades to come,” said Lance Pearson, President of the Stone County Board of Supervisors.
More information on the construction and future hiring process is available on our dedicated project website ‘enviva-bond.com’. To learn more about Enviva, please visit our website at envivabiomass.com and follow us on social media @Enviva.
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi. Enviva sells most of its wood pellets through long-term take-or-pay contracts with creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
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HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Expro Group Holdings N.V. (“Expro” or the “Company”) (NYSE: XPRO) today announced the publication of its 2021 Environmental, Social, and Governance (ESG) Report, which provides transparency on the Company’s performance and establishes Expro’s near- and long-term ESG priorities. The report can be viewed and downloaded on the Company's website.
“Promoting ESG is an integral part of our culture and mission and woven into all aspects of our business,” said Mike Jardon, Chief Executive Officer of Expro. “In 2021, we brought together Frank’s International and Expro to create a leading full-cycle energy services company and advance our shared desire for creating a more sustainable business and better future for our employees, customers and communities. Our 2021 ESG report outlines the significant steps we are taking toward this goal, including our goal to reach net zero carbon emissions by 2050. We are focused on building on our policies for the energy transition while fostering a rich culture that celebrates diversity and emphasizes the health, safety and wellbeing of our global Expro team.”
“We recognize the role Expro can play in creating a more sustainable world,” said Karen David-Green, Chief Communications, Stakeholder & Sustainability Officer of Expro. “The policies and objectives in our ESG report are our guiding light to achieve our potential and help our customers and communities advance down the path toward a lower carbon future. Our people are at the heart of our success, and we want to empower them to innovate, execute, and grow to embody our core values and unlock the true power of the Expro platform for the benefit of all stakeholders.”
Highlights of Expro’s 2021 ESG report include:
About Expro
Working for clients across the entire well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company considers best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.
With roots dating to 1938, Expro has more than 6,600 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries with over 100 locations.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s environmental, social and governance goals, targets and initiatives, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
Investor contact:
Karen David-Green – Chief Communications, Stakeholder & Sustainability Officer
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ZincFive® continues to lead in ESG through pursuit of the highest supply chain standards.
PORTLAND, Ore.--(BUSINESS WIRE)--Today, ZincFive, the world leader in nickel-zinc battery-based solutions, announced it has joined the Initiative for Responsible Mining Assurance (IRMA), as part of the company’s continued commitment to safeguard human rights, communities impacted by mining, and the broader environment.
IRMA works to advance responsible mining practices, providing third-party verification and certification against comprehensive environmental and social criteria for all mined materials. The global standard was developed over 10 years, in consultation with more than 100 stakeholder groups including mining companies, affected communities, NGOs, labor groups and purchasing companies using mined materials.
Membership in the initiative is the latest development in ZincFive’s commitment to promote ESG standards within the company for the benefit of all stakeholders. ZincFive’s nickel-zinc batteries have a significantly lower end-to-end climate impact than lead-acid and lithium batteries, as validated by an expert third-party analysis. By joining IRMA, ZincFive is committing to source from mines assessed through IRMA in the future, thereby emphasizing the importance of responsible social and governance practices, in addition to its leading position as a manufacturer of sustainable battery solutions.
“Everything that goes into our products throughout the supply chain must follow our commitment to sustainability and human rights protection,” said ZincFive CEO and Co-Founder Tim Hysell. “Joining IRMA helps us achieve our goal of addressing worldwide environmental, social, and governance concerns and impacting the world in positive ways.”
“We welcome ZincFive’s membership in IRMA,” said Aimee Boulanger, Executive Director of IRMA. “We are encouraged to see a growing momentum throughout the supply chain as more purchasers make it clear they seek transparency and continuous improvement at the mine site.”
About ZincFive, Inc.
ZincFive is the world leader in innovation and delivery of nickel-zinc batteries, applying transformational technology and solutions that provide the power to advance the world with less harmful impacts. With more than 90 patents awarded, ZincFive leverages safe, sustainable nickel-zinc chemistry within its solutions to provide high power density and performance simultaneous with superior safety and environmental advantages. ZincFive is a privately held company based in Tualatin, Oregon. For more information, visit www.zincfive.com.
ZincFive is a registered trademark and the ZincFive logo is a trademark of ZincFive, Inc.
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The Efficiency Solutions Division of Mantis Innovation was recently presented with the Eversource Energy Excellence Award for Retrofit Work in Large Business.
HINGHAM, Mass.--(BUSINESS WIRE)--#efficiency--Mantis Innovation, provider of smart, sustainable solutions to improve facility performance, announced today that its Efficiency Solutions division recently received the Eversource Energy Excellence Award for Retrofit Work in Large Business. In partnership with Eversource’s utility incentive programs in the last year, Mantis Innovation helped their clients achieve a variety of sustainability goals while also decreasing costs and obtaining strong project Return on Investment (ROI).
Mantis Innovation is among ten winners that were chosen from a pool of more than 100 applications and received the award during a virtual ceremony during the 2022 Eversource Business Partner Appreciation Week. These awards mark the first of their kind for Eversource. The Efficiency Solutions division received this award due to their work decreasing energy use for grocery chain, Price Chopper/Market 32. This project met the award’s threshold of saving a minimum of 7.6 million kWh and over 100,000 therms.
“These awards celebrate 10 truly remarkable business partners that were focused on delivering energy efficiency solutions, achieving excellence while helping customers save money and reduce energy use,” said Eversource Vice President of Energy Efficiency, Tilak Subrahmanian. “We are proud to recognize this fantastic work and hope that it inspires many others to embrace the many benefits of energy efficiency, including cost savings and a positive impact on our planet.”
"We were excited to tackle this project due to the opportunity to support essential infrastructure for the grocery sector and provide large kWh and cost deductions through strategic energy efficiency solutions. Receiving recognition for this work reflects our commitment to driving sustainable outcomes for our clients and positions the Efficiency Solutions division of Mantis Innovation as a trusted leader in the industry,” said Ross Fairbanks, Chief Operating Officer, Efficiency Solutions Division, Mantis Innovation. We appreciate Eversource’s own commitment to enabling clients to meet their efficiency goals through competitive programs and supportive resources. Their support for large scale energy efficiency projects is making a great impact across New England.”
This award announcement comes on the heels of the recent rebrand of Fairbanks Energy Services to the Efficiency Solutions division of Mantis Innovation and marks an important milestone as Mantis continues to deliver sustainability solutions for large commercial and industrial companies.
About Mantis Innovation
Mantis Innovation is the premier provider of smart solutions that deliver better building performance and improved energy efficiency through managed facility services and turnkey program management. Mantis leverages expertise from a vast array of professional disciplines in engineering, comprehensive data collection and analysis, technology-enabled solutions, and a network of trusted partners. The company offers a full suite of services, including: energy procurement and demand management; solar, roofing, building envelope, and pavement, design, assessment and maintenance; and LED lighting, HVAC/mechanical and building automation systems implementation. Mantis is headquartered in Houston, Texas, with over 15 locations across the United States from Massachusetts to Washington.
Learn more at mantisinnovation.com.
About Eversource
Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2021 and recognized as one of America’s Most JUST Companies. Celebrated as a national leader for its corporate citizenship, Eversource transmits and delivers electricity and natural gas and supplies water to 1.8 million customers throughout Massachusetts, including approximately 1.45 million electric customers in 142 communities, 635,000 gas customers in 110 communities, and 8,700 water customers in five communities. Eversource harnesses the commitment of approximately 9,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.
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SAINT JOHN, New Brunswick--(BUSINESS WIRE)--ARC Clean Energy Canada (ARC Canada), an advanced small modular reactor (aSMR) technology provider, announced today the completion of its Series A financing in the amount of $30 million (CAD) from private sector investment and the Province of New Brunswick. This financing will progress the deployment of Canada’s first commercial grid-scale aSMR at the Point Lepreau Nuclear Generating Station (PLNGS) site, owned by the provincial utility, New Brunswick Power (NB Power). It also sets the stage for further milestone achievements which will unlock additional funding from the province.
“Canada has taken the lead in the development of aSMR technology,” said ARC Canada President & CEO, Mr. William P. Labbe, Jr. “With the recent closing of our Series A financing, the investment community is demonstrating clear confidence in ARC Canada’s ability to deliver an energy solution that will produce carbon free, low cost, baseload power with a high-quality heat supply ideal for clean fuels production and industrial decarbonization.”
“The Government of New Brunswick’s partnership with ARC Canada will see the launch of its safe and proven technology at the PLNGS site,” said New Brunswick Minister of Natural Resources and Energy Development, Mike Holland. “It is encouraging, but not surprising, that private sector investors share our confidence in the clean energy provided by ARC Canada’s advanced SMR technology.”
ARC Canada will deploy its technology for both electrical and industrial applications to customers including utilities, governments, and corporations. The launch customer, NB Power, is an experienced nuclear operator with a proven track record for safety, reliable operations and has a strategically positioned electrical grid able to supply Atlantic Canada and the New England states with a clean and reliable source of generation.
The ARC Canada technology is a modular 100MW fast reactor that improves upon existing nuclear with its enhanced field-proven safety features and operates with a 20-year refueling cycle. Its simple modular design and factory assembly yields low-cost energy and allows for broader supply chain participation, resulting in a significant economic opportunity for the region.
“NB Power congratulates ARC Canada on completing this important milestone. We are pleased to partner with ARC Canada to progress the deployment of advanced SMR technology at PLNGS, which is key for providing safe, reliable, and competitive generation to New Brunswickers,” said NB Power CEO, Mr. Keith Cronkhite. “The versatility of the technology is unique in that it partners well with both electrical and industrial applications due to its high-quality heat, a key differentiator.”
ARC Canada’s technology is supported by strategic world-class engineering partners. The company successfully entered Phase 2 of the Canadian Nuclear Safety Commission’s (CNSC) vendor design review process as part of the design oversight from the world-class regulator.
About ARC Clean Energy Canada Inc.
ARC Clean Energy Canada Inc. (ARC Canada) is a clean energy technology company developing an advanced small modular reactor (SMR) offering inherently safe, reliable, and economical carbon free power that deals with waste for both on-grid and industrial applications. ARC Canada has established its Head Office in Saint John, New Brunswick with a goal of promoting business and economic development within Canada. ARC Canada envisions the creation of a sustainable supply chain delivering economic growth, well-paying supply chain jobs and the opportunity for New Brunswick and Canada to take a lead in the advanced small modular reactor technology field.
More information is available online at www.arcenergy.co
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Carol Lynn Landry
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Utility to Deploy 3 Million Itron Intelis Natural Gas Smart Meters to Improve Safety, Reliability and the Customer Experience
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#centerpoint--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, today announced it has signed a contract with CenterPoint Energy, Inc. (NYSE: CNP) to further modernize its natural gas distribution system with 3 million of Itron’s award-winning Intelis natural gas ultrasonic smart meters. CenterPoint Energy is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. The utility will use the smart natural gas metering solution to enhance safety and service for its customers and improve distribution system reliability and efficiency.
The Intelis natural gas meter includes a built-in automatic shutoff valve and can be configured to shutoff automatically in the event of a high flow or high temperature incident to minimize the risk of a natural gas explosion. The Intelis natural gas meter also takes highly accurate ultrasonic measurements that provide customers access to detailed natural gas consumption information so they can better manage, budget and conserve their energy usage. Streamlined meter reading allows utilities to reliably collect data and alerts from meters across their natural gas distribution systems, proactively identifying and addressing potential problems before they become serious.
“CenterPoint Energy has set clear priorities to invest in our natural gas system to drive safety and reliability, while also advancing the transition to a cleaner energy future,” said Trey Kuchar, senior vice president, Natural Gas for CenterPoint Energy. “The Itron Intelis natural gas smart meters will not only support a more modern and resilient network for enhanced safety and reliability, but they will also help reduce our field visits and related vehicle carbon emissions. These natural gas smart meters are a win-win for our customers and the environment.”
“At Itron, we are dedicated to ensuring the safe, reliable and resourceful delivery and use of natural gas. We are excited to collaborate with CenterPoint Energy to deploy Itron’s next-generation Intelis natural gas smart metering solution, which has already surpassed 500,000 shipments to utilities in North America,” said John Marcolini, senior vice president of Networked Solutions at Itron. “We look forward to expanding this solution at CenterPoint Energy and delivering unparalleled levels of operational excellence and safety; it will not only enable CenterPoint Energy with two-way communication for monitoring and billing their natural gas assets but will enhance intelligence capability across distribution networks. Together, we are creating a safer and more resourceful world.”
To learn more about Itron’s Intelis smart gas meter, visit the product page.
About Itron
Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.
Itron® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
About CenterPoint Energy
As the only investor-owned electric and natural gas utility based in Texas, CenterPoint Energy, Inc. (NYSE: CNP) is an energy delivery company with electric transmission and distribution, power generation and natural gas distribution operations that serve more than 7 million metered customers in Indiana, Louisiana, Minnesota, Mississippi, Ohio and Texas. As of December 31, 2021, the company owned approximately $38 billion in assets. With approximately 9,400 employees, CenterPoint Energy and its predecessor companies have been in business for more than 150 years. For more information, visit CenterPointEnergy.com.
Forward Looking Statement
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this news release, the words "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "goal," "intend," "may," "objective," "plan," "potential," "predict," "projection," "should," "target," "will" or other similar words are intended to identify forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual events and results may differ materially from those expressed or implied by these forward-looking statements. Any statements in this news release regarding future events, such as the benefits to customers of the Intelis natural gas smart meter, including such benefits as safety, reliability and efficiency, or the impact such benefits will have on CenterPoint Energy’s customer or its distribution system, the reduction in carbon emissions as a result of such natural gas smart meters and CenterPoint Energy’s ability to meet carbon emission reduction goals on the timeline indicated, and any other statements that are not historical facts are forward-looking statements. Each forward-looking statement contained in this news release speaks only as of the date of this release. Important factors that could cause actual results to differ materially from those indicated by the provided forward-looking information include risks and uncertainties relating to: (1) the impact of COVID-19; (2) financial market conditions; (3) general economic conditions; (4) the timing and impact of future regulatory and legislative decisions; (5) effects of competition; (6) weather variations; (7) changes in business plans; (8) growth in CenterPoint Energy's service territory and changes in market demand; (9) CenterPoint Energy's ability to execute on operations initiatives, targets and goals; and (10) other factors, risks and uncertainties discussed in CenterPoint Energy's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other reports CenterPoint Energy or its subsidiaries may file from time to time with the Securities and Exchange Commission.
Itron, Inc.
Alison Mallahan
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509-891-3802
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CenterPoint Energy, Inc.
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NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that 111 Sutter Street has achieved LEED (Leadership in Energy and Environmental Design) Platinum and was San Francisco’s highest scoring LEED Project in 2021. The USGBC’s (U.S. Green Building Council) LEED certification is among the most esteemed sustainable building recognition programs globally.
“111 Sutter’s distinguished LEED achievement is a testament to our continuous dedication to sustainability and responsible building operations,” said Wilbur Paes, Paramount’s Chief Operating Officer, Chief Financial Officer and Treasurer. “We are extremely proud that we consistently deliver this same level of excellence throughout our portfolio, as 100% of our office properties are either LEED Gold or Platinum certified.”
Including 111 Sutter Street, Paramount’s portfolio boasts an impressive 11.3 million square feet of LEED Gold or Platinum certified properties. The Company’s high quality, efficient, and sustainable assets are key to the value proposition they offer both existing and prospective tenants who are focused on sustainability now more than ever before.
“LEED is a transformative tool that ensures a building is designed and operated to achieve high performance, improve human health, and protect the environment,” said Peter Templeton, President and CEO, USGBC. “In achieving Platinum-level recertification, the project at 111 Sutter Street is leading the way in the industry and helping USGBC continue towards our goal of green buildings for everyone.”
111 Sutter’s LEED rating improved from Gold to Platinum due to exemplary performance in energy, water, and waste conservation. A real-time energy management platform, advanced lighting technologies, and daylight harvesting result in reduced energy consumption throughout the asset. Additionally, low-flow fixtures have been installed to decrease water usage and stringent waste management procedures are followed to optimize recycling and composting. These efforts have contributed to 111 Sutter being home to notable not-for-profit and environmentally-focused tenants such as the Natural Resources Defense Council and Save The Redwoods League.
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
Wilbur Paes
Chief Operating Officer, Chief Financial Officer, and Treasurer
212-237-3122
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New S&P Global Commodity Insights report finds continuing efficiency improvements, as well as new technologies, are poised to overtake slowing production growth and result in absolute emission reduction by middle of this decade
CALGARY, Alberta--(BUSINESS WIRE)--By the middle of this decade greenhouse gas (GHG) emissions from Canadian oil sands production should be in decline even as production continues to grow, according to a new comprehensive report by S&P Global Commodity Insights that takes into account current technology trends and production growth.
Entitled The Trajectory of Oil Sands GHG Emissions: 2009-2035, the report by the S&P Global Oil Sands Dialogue says that long-term trends of reductions to the GHG intensity of oil sands production are set to reach an inflection point around 2025. Immediate pressure on absolute emissions to rise is expected in the short-term prior to that point. Absolute emissions are then expected to begin to decline from a level between 87-89 MMtCO2e, even as production rises by more than 600,000 barrels per day during the same period (2020 to 2025).
The findings of the report confirm a preliminary analysis from the same team released earlier this year.
“GHG intensity improvements do add up,” said Kevin Birn, vice president, GHG estimation and coordination, S&P Global Commodity Insights. “Our latest analysis shows that, if existing trends continue, they will overtake pressure from a slowing growth profile leading to absolute emission declines within the next few years.”
From 2020 to 2035, S&P Global Commodity Insights projects GHG intensity of the Canadian oil sands could decline from 20-28% with some segments seeing much more dramatic reductions. Meanwhile, production growth in the study was projected to increase by more than 800,000 to 1.2 million barrels per day during this period. Most of that growth is expected to occur by 2025.
Efficiency improvements, including higher facility utilization rates as well as the roll-out and ramp-up of newer, less GHG-intensive operations have been leading contributors to past intensity reductions. These factors are expected to continue to play a role in future. However, carbon capture and storage as well as what S&P Global Commodity Insights is calling steam displacement technologies have the potential to result in more dramatic reductions.
“Although it can take time to be developed, carbon capture and storage is a wildcard when we look at technologies that can really make a difference for large industrial scale emitters like in the oil sands,” Birn said. “Another wild card is the increasing use of what we are calling steam displacements technologies in thermal oil sands operations. This category of technologies can materially reduce the steam, and thus emissions required to produce a barrel of oil.”
Steam displacement technologies physically replace steam required per barrel with solvents, or noncondensable gas like methane. These technologies can have large implications for oil sands thermal extraction emissions and can even result in increased productivity.
“We were struck by the some of the success of steam displacement technologies occurring in the field,” Birn said. “They show great potential to influence future oil sands GHG emissions and even enhance the level of future production.
“This new S&P Global Commodity Insights analysis is arguably the most rigorous examination of oil sands GHG emissions to date and the findings that, even if current trends continue, absolute emissions are set to decline within the next few years are profound,” Birn said. “This may yet prove to be a conservative estimate with both industry and governments in Canada vowing to take more material actions to lower the oil sands emissions profile and improve the long-term carbon competitiveness of the sector to better compete through the energy transition.”
S&P Global Commodity Insights estimates that the announced ambition of Oil Sands Pathways to Netzero—a consortium of major oil sands producers representing more than 95% of industry output—could result in oil sands GHG emissions falling by 19 MtCO2e by 2030 relative to 2020. That is 17 MMtCO2e lower than S&P Global Commodity Insights projection for 2035. Recently the government of Canada announced it could be seeking even greater reductions from the sector.
S&P Global (NYSE: SPGI) provides essential intelligence. We enable governments, businesses and individuals with the right data, expertise and connected technology so that they can make decisions with conviction. From helping our customers assess new investments to guiding them through ESG and energy transition across supply chains, we unlock new opportunities, solve challenges and accelerate progress for the world.
We are widely sought after by many of the world’s leading organizations to provide credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help the world’s leading organizations plan for tomorrow, today. For more information, visit www.spglobal.com.
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Uday Yadav to pursue new opportunities
DUBLIN--(BUSINESS WIRE)--Power management company Eaton (NYSE:ETN) today announced Heath Monesmith has been named president and chief operating officer of the Electrical Sector, effective July 5, 2022. In this role, he will also have corporate responsibility for the EMEA region and will report to Eaton’s Chairman and Chief Executive Officer Craig Arnold.
“Heath’s passion, insight, and strategic abilities were instrumental in guiding the Industrial Sector through the challenges of the past three years,” said Arnold. “I have no doubt these qualities will serve him and Eaton well as he takes on this new role.”
Monesmith most recently served as president and chief operating officer of the Industrial Sector. Prior to this role, he was executive vice president and general counsel for Eaton, served as executive vice president of Human Resources at Cooper Industries and was a partner at the K&L Gates law firm in Pennsylvania. He holds a bachelor's degree in business administration from Ohio University, a law degree from The Ohio State University College of Law, and an MBA from Texas A&M University.
Monesmith succeeds Uday Yadav who is leaving Eaton to pursue new opportunities.
“I’d like to extend sincere thanks to Uday for his 22 years of service to Eaton,” said Arnold. “He approached each role with his trademark passion, focus and uncompromising desire to excel – traits that helped him make a significant and lasting difference within the company. We wish him and his family all the best for the future.”
In a related move, Paulo Ruiz will succeed Monesmith as president and chief operating officer of the Industrial Sector. In this role, Ruiz will also have corporate responsibility for the Asia-Pacific and Latin American regions and will report to Arnold.
Ruiz joined Eaton in 2019 as the president of the Hydraulics Group and most recently served as president of the Energy Solutions and Services Americas Group. Prior to joining Eaton, Ruiz served for more than 18 years in a variety of leadership roles with Siemens. A successor for Ruiz will be named in the near future.
Arnold continued, “Paulo’s strong leadership skills and broad business experience make him well positioned to lead our Industrial Sector.”
Over the next few weeks, Monesmith, Yadav and Ruiz will be working together to ensure a smooth leadership transition.
Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.
Founded in 1911, Eaton has been listed on the NYSE for nearly a century. We reported revenues of $19.6 billion in 2021 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.
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LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc., (NASDAQ: JBHT) announced today that it expects to issue first quarter 2022 earnings after the market closes on Monday, April 18, 2022. It will hold a conference call from 4:00-5:00 p.m. CDT on the same day to discuss the quarterly results and answer questions from the investment community. An online, real-time webcast of the quarterly conference call will be available at investor.jbhunt.com on April 18, 2022 at 4:00 p.m. CDT. An online replay of the earnings call webcast will be available a few hours after the completion of the call.
This press release may contain forward-looking statements, which are based on information currently available. Actual results may differ materially from those currently anticipated due to a number of factors, including, but not limited to, those discussed in Item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2021. We assume no obligation to update any forward-looking statement to the extent we become aware that it will not be achieved for any reason. This press release and additional information will be available immediately to interested parties on our web site, www.jbhunt.com.
J.B. Hunt Transport Services, Inc.
Brad Delco
Senior Vice President – Finance
(479) 820-2723
HÉRICOURT, France--(BUSINESS WIRE)--#BeFasterSaferandCleaner--GAUSSIN (EURONEXT GROWTH ALGAU - FR0013495298), a pioneer in the clean and intelligent transport of goods and people, announces it has started delivering on the order of 36 APM 75T HE electric tractors, 24 POWERPACKS LMP® and 6 charging stations to equip CÔTE D'IVOIRE TERMINAL, the second container terminal in the port of Abidjan. GAUSSIN is delivering 14 APMs and 2 charging stations this week, for delivery to CÔTE D'IVOIRE TERMINAL at the end of April.
This historic order is the largest since the launch of the APM 75T HE, a 100% electric tractor designed to transport containers in ports. It represents a turnover of €9.9 million and is due for delivery in full in the first half of 2022.
CÔTE D'IVOIRE TERMINAL, pioneering zero emission container terminal in Africa
CÔTE D'IVOIRE TERMINAL is the second container terminal in the port of Abidjan. With a capacity of 1.5 million containers per year, it will cover an area of 37.5 hectares and will have 1,100 meters of quay with a draught of 16 meters. Once commissioned, it will be equipped with a full range of electrical equipment including 6 quay gantries and 13 RTG gantries. CÔTE D'IVOIRE TERMINAL is the first container terminal built according to the 8 pillars of the Green Terminal label, an environmental labeling process created by BOLLORÉ PORTS and validated by Bureau Veritas.
A promising future
GAUSSIN had announced in March 2019 the signature of a Framework Agreement with preferential rights valid until December 31, 2025 with Unicaf, Bolloré Group's central purchasing unit, for the APM 75T "HE" Hot Environment, 100% electric, equipped with the POWERPACK® LMP® from Blue Solutions. The agreement has resulted in 3 orders for the Ports of Abidjan in Ivory Coast and Freetown in Sierra Leone.
Discussions are underway for new orders in 2022 for other ports operated by Bolloré Ports.
“We are proud to start the delivery process of this historic order for GAUSSIN, which will enable the port of Abidjan to accelerate its ecological transition. Our partnership with the Bolloré Group remains a strategic pillar of GAUSSIN's strategy and I am delighted with the development prospects underway,” said Christophe Gaussin, CEO of GAUSSIN.
“We are entering the final stretch before the commissioning of Côte d'Ivoire Terminal scheduled for next November. This second container terminal illustrates all our know-how as a port operator both in technological and environmental terms. We are satisfied with our partnership with GAUSSIN and are pursuing our investment projects with the aim of reducing the impact of our activities on the environment year after year,” said Philippe Labonne, Deputy CEO of Bolloré Transport & Logistics.
Next steps
SITL Paris (Villepinte) : April 5 to 8
H2 Racing Truck World Tour in Zeebrugge: April 6
Financial results 2021 : April 26
H2 Racing Truck World Tour in Baltimore : April 29
H2 Racing Truck World Tour in New York : May 1
H2 Racing Truck World Tour in Detroit : May 3
H2 Racing Truck World Tour in Long Beach (Los Angeles) : May 6
Hyvolution in Paris : May 11 to 12
Advanced Clean Transportation (ACT) Expo in Los Angeles : May 9 to 12
H2 Racing Truck World Tour in Las Vegas : May 14
H2 Racing Truck World Tour in San Francisco : May 16
H2 Racing Truck World Tour in Seattle : May 18
H2 Racing Truck World Tour in Vancouver : May 19
H2 Racing Truck World Tour in Calgary : May 21
H2 Racing Truck World Tour in Winnipeg : May 23
H2 Racing Truck World Tour in Ottawa : May 26
H2 Racing Truck World Tour in Montreal : May 27
H2 Racing Truck World Tour in Québec : May 28
H2 Racing Truck World Tour in London : July 2
H2 Racing Truck World Tour in Rotterdam : July 3
H2 Racing Truck World Tour in Paris : July 8
H2 Racing Truck World Tour in Héricourt : July 9
H2 Racing Truck World Tour in Geneva : September 26
H2 Racing Truck World Tour in Milan : September 28
H2 Racing Truck World Tour in Rome : September 29
H2 Racing Truck World Tour in Cairo : November 5
H2 Racing Truck World Tour in Charm el-Cheikh (COP27) : November 7
About GAUSSIN
GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.
In October 2021, GAUSSIN won the Dubai World Challenge for Self-Driving Transport.
In January 2022, GAUSSIN successfully completed the 2022 Dakar Rally with its H2 Racing Truck, the first hydrogen-powered vehicle to enter the race and generate zero CO2 emissions.
In March 2022, Christophe Gaussin was named “Hydrogen Personality of the year” at the Hydrogénies - Trophées de l'hydrogène ceremony held at the French National Assembly.
GAUSSIN has been listed on Euronext Growth in Paris since 2010.
More information on www.gaussin.com.
About COTE D’IVOIRE TERMINAL
After an international call for tenders, the BOLLORÉ PORTS and APM TERMINALS consortium has been awarded the construction and management of the 2nd container terminal of the Port of Abidjan. Thanks to an investment of more than 262 billion FCFA, the construction work of the future CÔTE D'IVOIRE TERMINAL will be completed in 2022. Covering an area of 37.5 hectares, this new container terminal will be able to handle more than 1.5 million TEU containers per year and accommodate vessels with a draught of 16 meters along its 1,100 meters of quays. It will generate 450 direct jobs and thousands of indirect jobs. It will contribute to the development of skills and the training of Ivorian youth in port trades and in the handling of latest generation equipment.
For more information on GAUSSIN, go to www.gaussin.com
* This document may contain forward-looking information. Such forward-looking information refers to future prospects, developments and strategies of Gaussin and is based on an analysis of expected future results and estimates of amounts that are not yet determinable to date. Forward-looking information naturally contains elements of risk and uncertainty relative to events and therefore dependent on circumstances which may or may not occur in the future. Gaussin draws your attention to the fact that forward-looking information provides no guarantee concerning its future performance or financial situation, financial results or trends in the sector in which Gaussin operates, and which may significantly differ from those proposed or suggested in the forward-looking statements contained in this presentation. Furthermore, even though the financial position of Gaussin, its performance and trends in the sector in which Gaussin operates comply with the forward-looking information contained in this presentation, such performance or trends may not be a reliable indication of the company’s future performance or prospects. Gaussin is not committed to updating or confirming analysts' expectations or estimates or to publicly correcting any information or event in order to reflect an event or circumstance eventually occurring following this presentation.
GAUSSIN
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New solution enables fleet managers to better track at-home and public charging reimbursements
BRENTWOOD, Tenn.--(BUSINESS WIRE)--Comdata, a FLEETCOR company and world leader in payment innovation, announced today the launch of a new solution in partnership with Motorq, a leading connected-car data and analytics company. This solution would enable the capture of charge event data directly from electric vehicles (EV) and allow for fleet managers to accurately pay employees for EV charging costs – even when employees charge company vehicles at home. Comdata’s "Charge Anywhere" solution, powered by Motorq, effectively removes charging as the biggest barrier for EV adoption.
Widespread EV adoption for fleets continue to face impediments due to a lack of convenience, control, and data insights for fleet managers. As a trusted innovator in commercial fleet payment solutions for over 50 years, Comdata is steering the industry toward a future of EV-powered fleets. The company’s latest EV solution removes EV adoption roadblocks by leveraging data captured from eligible electric vehicles to track charging events’ type and location, calculate costs, and manage expense reimbursements.
“We wanted to bridge the goals for corporate sustainability commitments with the operational needs of our fleet manager customers,” says Alexey Gavrilenya, FLEETOR’s Group President of North America Fuel. “We have landed on a solution that helps our customers track and reduce EV charging costs and advances fleet management data like never before.”
The Comdata-Motorq end-to-end charge payment, tracking, and reimbursement system revolutionizes the way that fleets can roll out EV solutions. “When it comes to charging, the electric vehicle itself is the single point of truth,” said Arun Rajagopalan, co-founder and CEO of Motorq. “Because we can access vehicle data, our solution is able to track and report on any type of charging event from any type of location – even homeowners’ garages. By enabling home charging reimbursement, FLEETCOR and Motorq are now able to eliminate one of the last remaining barriers to EV adoption and unlock the full potential of fleets to go electric.”
The new solution is now available to existing Comdata customers.
About Comdata
Comdata Inc., a FLEETCOR company, is a leading provider of innovative payment and operating technology that drives actionable insights from spending data, builds enhanced controls and positively impacts its clients’ bottom lines. The company partners with more than 30,000 businesses to better manage $55B in annual fleet, corporate purchasing, payroll and healthcare spending, making it one of the largest fuel card issuers and the second largest commercial MasterCard provider in the United States and Canada. Founded in 1969 and headquartered in Brentwood, Tennessee, Comdata employs more than 1,300 professionals across North America. To learn more about Comdata Inc. visit www.comdata.com.
About Motorq
Motorq is the leading connected-car data and analytics company. Our APIs and Machine Learning enable large fleet owners, fleet management companies and dealer services providers to leverage data and actionable insights from the fragmented set of built-in and aftermarket advanced connected-car systems. Motorq's cloud-based system performs ingestion, normalization, stream analytics processing, and data provisioning via APIs and other methods. Motorq enables businesses to implement connectivity-derived insights better, faster and less expensively, so they reduce costs, create new experiences, and focus on their core. Additional information is available at www.motorq.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
Trish DaCosta
KCD PR
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WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions, announced it will release first quarter 2022 financial results after market close on May 2, 2022. The company will conduct its first quarter 2022 webcast conference call on Tuesday, May 3, 2022, at 8:30 a.m. Eastern Daylight Time.
In order to allow for more Q&A and discussion during the call, Chemours will post a full transcript of its prepared remarks, charts, and earnings press release on May 2, 2022, after the close of the market. The company will also post a link to the recorded remarks for those who prefer an audio recording. The earnings call will start at 8:30 a.m. and begin with Q&A. Chemours will end the call at 9:15 a.m. The call is open to the public and can be accessed via live webcast and teleconference.
Conference Call: Please visit investors.chemours.com for a link to the live webcast and to view the accompanying slides.
Replay: A webcast replay will be available at investors.chemours.com.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, Advanced Performance Materials, and Chemical Solutions providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration, and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
INVESTORS
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Manifold-Mounted and Inline Direct Acting Valves Offer a Qualified, Cross-Application Solution to the Commercial Space Market
MONTVILLE, N.J.--(BUSINESS WIRE)--#additivemanufacturing--Today, Marotta Controls, a rapidly growing aerospace and defense supplier with a 65-year-plus heritage in spaceflight, announced that its latest direct acting solenoid valve is qualified for use in high pressure oxygen systems. Notably, the valve is also suitable for launch vehicle inert gas systems given its high flow capacity, smaller size, rapid response time, and overall cost-effectiveness. The manifold-mounted PLV405 can be configured with two or three ports and is proven to be reusable with a tested high lifecycle count.
Offering the same performance advantages, Marotta Controls also produces an inline model – the MV405. This valve is also available in 2-way or 3-way port configurations.
The PLV405 valves offer notable improvements over similar incumbent options, to include nearly double the flow capacity in a 7% lighter package with a 33% faster response time. They are constructed with alloys produced to the ATSM A36 standard.
“We understand the complexity of building and qualifying space vehicles. And we understand the importance of simplifying that process any way possible to speed manufacturing without compromising quality,” said Brian Ippolitto, Director, Aerospace Systems Engineering, Marotta Controls. “We view ourselves as more than just suppliers. We operate as true partners who aim to alleviate or at least minimize challenges wherever possible across the whole development cycle. Today, that intention manifests as producing a single, high performing valve with immense versatility.”
The 3-way valve is also available in a modified version that supports only Nitrogen, Helium and Air (no Oxygen).
The devices are qualified to the Air Force Space Command’s (AFSC) SMC-S-016 standard and are put through Marotta’s advanced cleaning and testing processes used for all space-bound hardware.
For more information, visit marotta.com.
About Marotta Controls
Founded in 1943, Marotta Controls is a fully-integrated solutions provider which designs, develops, qualifies and manufactures innovative systems and sub-systems for the aerospace and defense sectors. Our portfolio includes pressure, power, motion, fluid, and electronic controls for tactical systems, shipboard and sub-sea applications, satellites, launch vehicles, and aircraft systems. With over 200 patents, Marotta Controls continues to build on its legacy as a highly respected, family-owned small business based in the state of New Jersey. Twitter: @marottacontrols LinkedIn: Marotta Controls, Inc.
Heather Ailara
211 Communications
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Katee Glass
Marotta Controls, Inc.
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Antara Capital LP to Invest $300 Million in Convertible Senior Notes in a Private Placement
CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE: CHPT), a leading electric vehicle (EV) charging network, today announced that Antara Capital LP has agreed to make a $300 million investment in ChargePoint through the purchase of convertible senior notes to support ChargePoint’s growth initiatives.
Under the terms of the investment, Antara Capital LP will purchase a total aggregate principal amount of $300 million in 3.50% / 5.00% Convertible Senior Notes due 2027 (the “Notes”). The transaction is expected to close on April 12, 2022.
The Notes will be convertible at an initial conversion price to be determined prior to closing. The initial conversion price will represent a 30.0% premium to ChargePoint’s volume-weighted average price over a pre-determined period between this announcement and closing. Upon any conversion, ChargePoint will have the right to elect settlement in cash, shares or any combination thereof in its sole discretion.
The gross proceeds from the sale of the Notes are expected to be $300 million, before deducting fees and estimated offering expenses.
ChargePoint is permitted to pay interest on the Notes in cash or through the issuance of additional Notes (“PIK Interest”), at its election. Interest payments made in cash will be based on an interest rate of 3.50% per year, and PIK Interest will be based on an interest rate of 5.00% per year. The Notes will mature on April 1, 2027, unless redeemed, repurchased or converted in accordance with their terms prior to such date. The Notes will be guaranteed by ChargePoint’s operating company and wholly owned subsidiary, ChargePoint, Inc.
Evercore acted as exclusive financial advisor to ChargePoint.
Additional information regarding this announcement may be found in a Current Report on Form 8-K that ChargePoint intends to file with the Securities and Exchange Commission (the “SEC”).
The Notes and any shares of common stock issuable upon conversion of the Notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The investment agreement contemplates that the Notes will be transferrable to qualified institutional buyers pursuant to Rule 144A under the Securities Act. ChargePoint has agreed to file a registration statement with the SEC as soon as reasonably practicable after the closing, registering the resale of the shares of common stock issuable upon the conversion of the Notes.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities (including the shares of ChargePoint common stock, if any, into which the Notes are convertible) and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions available today. ChargePoint’s cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds-of-thousands of places to charge in North America and Europe. To date, more than 105 million charging sessions have been delivered, with drivers plugging into the ChargePoint network approximately every two seconds. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks, uncertainties, and assumptions, including, among other things, statements regarding the closing of the investment, the anticipated use of proceeds and any expected benefits for ChargePoint from application of the proceeds and the terms of the Notes. There are a significant number of factors that could cause actual results to differ materially from the statements made in this press release, including: the impact of the COVID-19 pandemic, geopolitical events including the Russian invasion of Ukraine, macroeconomic trends including changes in inflation or interest rates, or other events beyond our control on the overall economy, our business and those of our customers and suppliers, including due to supply chain disruptions and expense increases; our limited operating history as a public company; the fact that the Notes may never be converted into common stock, whether because our business is affected by the factors listed below or otherwise; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales of charging stations for most of our revenues; overall demand for EV charging and the potential for reduced demand for EVs if governmental rebates, tax credits and other financial incentives are reduced, modified or eliminated or governmental mandates to increase the use of EVs or decrease the use of vehicles powered by fossil fuels, either directly or indirectly through mandated limits on carbon emissions, are reduced, modified or eliminated; supply chain interruptions and expense increases; unexpected delays in new product introductions; our ability to expand our operations and market share in Europe; the need to attract additional fleet operators as customers; potential adverse effects on our revenue and gross margins if customers increasingly claim clean energy credits and, as a result, they are no longer available to be claimed by us; the effects of competition; risks related to our dependence on our intellectual property; and the risk that our technology could have undetected defects or errors. Additional risks and uncertainties that could affect our financial results are included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K filed with the SEC on April 4, 2022, which is available on our website at investors.chargepoint.com and on the SEC’s website at www.sec.gov. Additional information will also be set forth in other filings that we make with the SEC from time to time. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable law.
CHPT-IR
ChargePoint
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VP, Communications
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VP, Capital Markets and Investor Relations
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NEW ORLEANS--(BUSINESS WIRE)--NuQuest Energy LLC secures three utility-scale solar development projects totaling 390 Megawatts in Louisiana and Mississippi.
NuQuest Energy, LLC announced today that it has secured sites for three utility-scale solar projects totaling 390 Megawatts in Louisiana and Mississippi. The company has rapidly progressed towards the goal of building a 1 Gigawatt portfolio and solidifying the position of a locally-based industry-leading renewables development company.
“After several months of advanced analytical analyses of the electrical grids in both Louisiana and Mississippi, we’re excited to have secured our foundational projects with large developmental capacity,” said Alex Guitart, NuQuest Co-Founder. We look forward to advancing these projects and to generate value for all parties in our local community.”
Mr. Guitart is joined by industry executives Denis Taylor, Co-Founder & Partner, Audubon Companies, LLC; Bob Rosamond, Co-Founder & Partner, Audubon Companies, LLC; and Kirk Barrell, Founder & President, Barrell Energy Inc. and Amelia Resources, LLC. Together, the four co-founders have accumulated more than 120 years of experience in the energy infrastructure sector. Building on each partner’s industry expertise, this collaboration aims to deliver innovative solutions that advance renewable infrastructure development.
“NuQuest Energy has quickly secured excellent sites for utility-scale solar in our two target states,” said Bob Rosamond. “These sites build a great foundation for our progressing plans of a one gigawatt portfolio.”
“Our technology-focused approach has enabled us to select and secure sites with high probabilities of reaching operational status” said Kirk Barrell, NuQuest Co-Founder. The company has built a proprietary site-selection system, TerraVolt™, which integrates electric grid analyses, GIS, and advanced analytics. "Our proprietary technological system leverages decades of mapping and analytics experience to pinpoint high-quality locations for renewables development,” Barrell added.
About NuQuest Energy, LLC
NuQuest Energy, LLC is a renewables development company pursuing an aggressive plan to assemble and construct a diverse portfolio of utility, industrial, and corporate projects across the United States with a current focus on Louisiana and Mississippi. The company leverages existing relationships and project development experience to build a robust, scalable renewables portfolio.
CAUTIONARY STATEMENT: This press release contains certain forward-looking statements regarding renewable energy, development and operation activities, anticipated and potential developments and the economic potential of properties. Accuracy of these forward-looking statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. NuQuest Energy LLC cautions readers that it assumes no obligation to update or publicly release any revisions to the forward-looking statements in this press release and, except to the extent required by applicable law, does not intend to update or otherwise revise these statements more frequently than quarterly. Important factors that might cause future results to differ from these forward-looking statements include adverse conditions such as variations in the market prices of renewable energy, environmental laws and situations, solar and wind accessibility, the ability to satisfy future cash obligations and environmental costs, and other general development risks and hazards.
Alex Guitart
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504-628-7727
---Increases Total Liquidity and Extends Maturity to April 2027---
MIAMI--(BUSINESS WIRE)--World Fuel Services Corporation (NYSE: INT) today announced that it has successfully amended its unsecured credit facility, increasing the overall facility to $2 billion and extending the term of the credit facility to April 2027.
“We greatly appreciate the relationships we have with all of our lenders and their continued support of our business and our vision for the future,” stated Ira M. Birns, executive vice president and chief financial officer of World Fuel Services Corporation. “The increase in the size of the credit facility and improved covenant provisions will provide additional financial flexibility in support of our strategic growth objectives.”
Bank of America, N.A. is the Administrative Agent and Bank of America, N.A., JPMorgan Chase Bank, N.A., TD Bank, N.A., Wells Fargo Bank, N.A., and HSBC Bank USA, N.A. served as joint lead arrangers in connection with the transaction.
Information Relating to Forward-Looking Statements
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our beliefs and expectations with respect to our financial flexibility and our ability to execute on our strategic growth objectives and return capital to our shareholders. These forward-looking statements are qualified in their entirety by cautionary statements and risk factor disclosures contained in our Securities and Exchange Commission (“SEC”) filings, including our most recent Annual Report on Form 10-K filed with the SEC. Actual results may differ materially from any forward-looking statements due to risks and uncertainties, including, but not limited to: our ability to capitalize on new market opportunities, our ability to successfully implement our growth strategy and integrate acquired businesses and recognize the anticipated benefits, potential liabilities, limited indemnities and the extent of any insurance coverage, our ability to effectively manage the effects of the COVID-19 pandemic, the extent of the impact of the pandemic on ours and our customers' sales, profitability, operations and supply chains due to actions taken by governments and businesses to contain the virus, customer and counterparty creditworthiness and our ability to collect accounts receivable and settle derivative contracts, sudden changes in the market price of fuel or extremely high or low fuel prices that continue for an extended period of time, the availability of cash and sufficient liquidity to fund our working capital and strategic investment needs, any global economic impacts or other significant volatility that may arise from geopolitical events, wars and other civil unrest, adverse conditions in the markets or industries in which we or our customers and suppliers operate, such as the current global economic environment as a result of the coronavirus pandemic, our ability to manage the changes in supply and other market dynamics in the regions where we operate, our failure to comply with restrictions and covenants in our senior revolving credit facility and our senior term loans, including our financial covenants, our ability to successfully execute and achieve efficiencies, our ability to achieve the expected level of benefit from any restructuring activities and cost reduction initiatives, inflationary pressures and its impact on our customers or the global economy, unanticipated tax liabilities or adverse results of tax audits, assessments, or disputes, our ability to capitalize on new market opportunities, risks related to the complexity of the U.S. and foreign tax legislation and any subsequently issued regulations and our ability to accurately predict the impact on our effective tax rate and future earnings, our ability to effectively leverage technology and operating systems and realize the anticipated benefits, actions that may be taken under the current administration in the U.S. that increase costs or otherwise negatively impact ours or our customers and suppliers businesses, the outcome of pending litigation and other proceedings, the impact of quarterly fluctuations in results, particularly as a result of seasonality, our failure to effectively hedge certain financial risks associated with the use of derivatives, uninsured losses, the impact of climate change and natural disasters, adverse results in legal disputes, our ability to retain and attract senior management and other key employees, and other risks detailed from time to time in our SEC filings. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changes in expectations, future events, or otherwise, except as required by law.
About World Fuel Services Corporation
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing energy procurement advisory services, supply fulfillment and transaction and payment management solutions to commercial and industrial customers, principally in the aviation, marine and land transportation industries. World Fuel Services also offers natural gas and electricity, as well as energy advisory services, including programs for carbon offsets, sustainability solutions and renewable energy alternatives. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.
For more information, visit www.wfscorp.com.
Ira M. Birns, Executive Vice President &
Chief Financial Officer
Glenn Klevitz
Vice President, Treasurer & Investor Relations
305-428-8000
Carry The Load’s National Relay Honors our Nation’s Heroes
DALLAS--(BUSINESS WIRE)--Energy Transfer (NYSE: ET) announced today it has signed on as a national sponsor of this year’s Carry The Load 10th Annual National Relay that honors the sacrifices of our nation’s military, veterans, first responders and their families.
This year’s national relay kicks off in Seattle on April 28 and features five routes that cover 20,000 miles crossing 48 states. The event culminates in Dallas at the Dallas Memorial March on Memorial Day weekend. Energy Transfer’s sponsorship will help support the busses that travel with the national relay teams. Carry The Load expects an estimated 100,000 individuals will participate in this year’s nationwide event.
“Supporting our veterans, first responders and their families is incredibly important to Energy Transfer and our employees,” said Mackie McCrea, co-CEO, Energy Transfer. “We are honored to partner with Carry The Load because of their commitment to honor those who served, and remember those who made the ultimate sacrifice for our freedom.”
With $32.9 million funds raised to date, Carry The Load provides active ways to bring all Americans together to participate in honoring our nation’s heroes every day. Carry The Load’s awareness, continuum of care and education programs help provide healing of the body, mind and soul of our nation’s warriors.
Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in North America, with a strategic footprint in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (NGL) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interests and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at energytransfer.com.
Vicki Granado
Lauren Atchley
214-840-5820
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WHITE PLAINS, N.Y.--(BUSINESS WIRE)--April 4, 2022-- ITT Inc. (NYSE: ITT) today announced it has acquired privately-held Habonim for $140 million in an all-cash transaction. Habonim will become part of ITT’s Industrial Process (IP) segment. The acquisition closed in the second quarter of 2022 and is expected to be accretive to ITT’s consolidated EBITDA margin.
Based in Kfar HaNassi, Israel, Habonim is a leading designer and manufacturer of valves, valve automation and actuation for the gas distribution (including LNG), biotech and harsh application service sectors. The company’s highly differentiated business model allows for the commercialization of a majority of its products through distribution while maintaining its end-user relationships. Habonim also sells directly to original equipment manufacturers and integrators for customized solutions. The company has operations in Israel, the U.S., and the Netherlands and employs over 200 highly skilled professionals globally.
“Habonim is a great addition to the ITT portfolio,” said Luca Savi, Chief Executive Officer and President of ITT. “The company’s complementary ball valves offering and focus on harsh applications in attractive end markets will drive stronger sales growth for Industrial Process and ITT over the long term. Like ITT, Habonim has developed strong, lasting relationships with its customers and end users based on consistent quality and their ability to offer highly engineered solutions. The acquisition provides ITT access to new, attractive niche markets, expands IP’s existing specialty valves portfolio, including through its cryogenic and hydrogen ball valves offerings for green energy applications, and builds on an already strong distribution network in North America.”
“Becoming part of ITT is a very important and exciting step for Habonim on our path to grow and expand our global leadership in the highly performing valves and automated-valves markets,” said Ilan Gilboa, Habonim CEO. “The global reach, expertise in the Industrial Process business, and the shared, highly engineered approach to solving problems and creating value for our customers will allow us to move forward much faster and with a greater impact as part of ITT. We are excited to begin the next chapter at Habonim.”
About ITT
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy markets. Building on its heritage of innovation, ITT partners with its customers to deliver enduring solutions to the key industries that underpin our modern way of life. ITT is headquartered in White Plains, N.Y., with employees in more than 35 countries and sales in approximately 125 countries. For more information, visit www.itt.com.
Safe Harbor Statement
This release contains “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In addition, officers and representatives of ITT may from time to time make and discuss, projections, goals, assumptions, and statements that may constitute “forward-looking statements”. These forward-looking statements are not historical facts, but rather represent only a belief regarding future events based on current expectations, estimates, assumptions and projections about our business, future financial results, and the industry in which we operate, and other legal, regulatory, and economic developments. These forward-looking statements include, but are not limited to, future strategic plans and other statements that describe the company’s business strategy, outlook, objectives, plans, intentions or goals, and any discussion of future events and future operating or financial performance.
We use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “future,” “may,” “will,” “could,” “should,” “potential,” “continue,” “guidance” and other similar expressions to identify such forward-looking statements. Forward-looking statements are uncertain, and, by their nature, many are inherently unpredictable and outside of ITT’s control, and involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in, or reasonably inferred from, such forward-looking statements.
Where in any forward-looking statement we express an expectation or belief as to future results or events, such expectation or belief is based on current plans and expectations of our management, expressed in good faith, and believed to have a reasonable basis. However, there can be no assurance that the expectation or belief will occur or that anticipated results will be achieved or accomplished.
Among the factors that could cause our results to differ materially from those indicated by forward-looking statements are risks and uncertainties inherent in our business including, without limitation:
The forward-looking statements included in this release speak only as of the date hereof. We undertake no obligation (and expressly disclaim any obligation) to update any forward-looking statements, whether written or oral or as a result of new information, future events or otherwise.
Investor Contact
Mark Macaluso
+1 914-641-2064
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Media Contact
Kellie Harris
+1 914-216-4025
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