The Allison 3000 Series™ transmission has been integrated into the new waste collection truck to optimize the performance of this fuel cell electric vehicle.
ABERDEEN, UK--(BUSINESS WIRE)--Allison Transmission is pleased to announce that it has been selected to provide the propulsion system for the UK’s first hydrogen fuel cell refuse collection vehicle (RCV). Aberdeen City Council has chosen to pair a 250 kW Hyzon electric motor with an Allison 3000 Series™ transmission in conjunction with a 45 kW fuel cell. The council’s decision to select the 3000 Series transmission is a testament to the capability of Allison’s dynamic portfolio of propulsion solutions, which can support and optimize emerging propulsion technologies such as hydrogen fuel cells.
The RCV, which is powered by Aberdeen’s existing hydrogen infrastructure, has a range of 155 miles (250 km), enabling it to travel greater distances than existing electric vehicles. This range enables these refuse trucks to complete their route without returning to the depot to recharge. Aberdeen City Council’s innovative new hydrogen-powered refuse truck is based on the 4200 mm wheelbase HH-Mercedes-Benz Econic Hydrogen chassis and has a 15kg tank capacity at 350 bar and 140 kWh batteries at 700 volts.
The vehicle is the latest step in the ‘H2 Aberdeen’ initiative, which aims to bring about a hydrogen economy in the city’s region. In 2018, Aberdeen City Council deployed the UK’s first hydrogen-powered sweeper vehicle, which also features an Allison transmission. “Aberdeen City Council currently operates 500 vehicles equipped with Allison transmissions and has been impressed by their drivability and durability for many years,” said Nathan Wilson, Account & Area Sales Manager, United Kingdom & Republic of Ireland at Allison. “Allison’s automatic transmissions are well-designed to support alternative-fuel and new-power vehicles. For these reasons, the Council specifically requested that its new hydrogen-powered RCV be equipped with an Allison transmission as well.”
Aberdeen City Council’s new hydrogen-powered truck combines the Econic’s low-entry cab with a vehicle body made in the Netherlands by waste collection solutions specialist Geesinknorba Group. Equipped with a combi split bin lift, this vehicle went into service in March on a domestic refuse collection duty-cycle which includes constant stop-starts for 7.5 hours per day and 5 days per week. A manual or automated manual transmission (AMT) would struggle to meet these demands because of wear and tear on the clutch. Allison’s fully automatic transmission replaces the mechanical clutch with a patented torque converter. This reduces maintenance requirements and improves drivability, making vehicles easier to control during stop-starts and low-speed maneuvers. The Allison transmission also provides the power take off (PTO) required to support vocational vehicles, such as refuse collection vehicles.
About Allison Transmission
Allison Transmission (NYSE: ALSN) is a leading designer and manufacturer of vehicle propulsion solutions for commercial and defense vehicles, the largest global manufacturer of medium- and heavy-duty fully automatic transmissions, and a leader in electrified propulsion systems that Improve the Way the World Works. Allison products are used in a wide variety of applications, including on-highway trucks (distribution, refuse, construction, fire and emergency), buses (school, transit and coach), motorhomes, off-highway vehicles and equipment (energy, mining and construction applications) and defense vehicles (tactical wheeled and tracked). Founded in 1915, the company is headquartered in Indianapolis, Indiana, USA. With a presence in more than 150 countries, Allison has regional headquarters in the Netherlands, China and Brazil, manufacturing facilities in the USA, Hungary and India, as well as global engineering resources, including electrification engineering centers in Indianapolis, Indiana, Auburn Hills, Michigan and London in the United Kingdom. Allison also has more than 1,400 independent distributor and dealer locations worldwide. For more information, visit allisontransmission.com.
Claire Gregory
Director, Global External Communications
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DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Bid Round Outlook 2022" report has been added to ResearchAndMarkets.com's offering.
In 2022, seven licensing rounds are closing soon (i.e., by Q1 2022), and another eight are open and are expected to close by the end of 2022.
Asia is hosting the highest number of licensing rounds globally that are expected to close in 2022 (six), followed by Africa and Oceania with three and two, respectively. One round each is expected to close in South America, the Caribbean, the Former Soviet Union, and the Middle East.
Scope
Reasons to Buy
Key Topics Covered:
1. Table of Contents
1.1. List of Tables
1.2. List of Figures
2. Global 2022 Bid Rounds Summary
2.1. Global Reported Bid Round Activity
2.2. Open Bid Rounds
2.3. Upcoming Bid Rounds
3. 2022 Bid Round Overview
3.1. Rounds Closing Soon (Q1 2022)
4. Africa
4.1. 2022 Closing Bid Rounds
4.2. 2022 Open Bid Rounds
4.3. Upcoming Bid Rounds
5. Asia
5.1. 2022 Closing Bid Rounds
5.2. 2022 Open Bid Rounds
5.3. Upcoming Bid Rounds
6. Caribbean
6.1. 2022 Open Bid Rounds
6.2. Upcoming Bid Rounds
7. Europe
7.1. Upcoming Bid Rounds
8. Former Soviet Union
8.1. 2022 Open Bid Rounds
9. Middle East
9.1. 2022 Open Bid Rounds
9.2. Upcoming Bid Rounds
10. North America
10.1. Upcoming Bid Rounds
11. Oceania
11.1. 2022 Closing Bid Rounds
11.2. Upcoming Bid Rounds
12. South America
12.1. 2022 Open Bid Rounds
12.2. Upcoming Bid Rounds
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/j9ur0o
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Decommissioning to reduce 3.9 million tonnes of CO2, supporting New Jersey clean energy goals and reflecting MIM’s commitment to green investments
WHIPPANY, N.J.--(BUSINESS WIRE)--MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. (NYSE: MET), today announced it was the sole lender for approximately $200 million in financing to support the decommissioning of the last two coal-fired plants in New Jersey.
The financing will allow Starwood Energy Group, the majority owner of the two plants, and Atlantic City Electric (ACE), a regulated electric transmission and distribution utility serving approximately 600,000 customers in New Jersey, to move forward with proposals to retire ongoing power sales agreements between ACE and the coal-fired plants. Both plants are expected to cease generating coal energy at the end of May 2022, nearly 30 months ahead of schedule.
MIM’s Private Capital team led the structuring and financing on behalf of a number of institutional clients and MetLife’s general account. The financing will be used to pay for decommissioning costs, including payments to suppliers and operators, and repayment of existing outstanding debt. It is expected that the agreement by both plants to cease producing coal-fired electricity will lead to redevelopment and transition to other forms of electric generation.
The transaction reinforces MIM’s long-term commitment to energy transition initiatives that drive environmental sustainability and decarbonization. The decommissioning is expected to result in the reduction of 3.9 million tonnes of CO2 in the atmosphere, the equivalent of eliminating over 750,000 passenger cars a year, and an estimated $30 million cost savings to ACE customers. The transaction also supports New Jersey’s Energy Master Plan, which aims to reduce 80% CO2 emissions levels and reach 100% clean energy generation by 2050.
“We’re committed to continuing to support the energy transition through our investments, which we customize to the needs of our borrowers while also targeting positive community outcomes,” said Nancy Mueller Handal, head of Private Fixed Income & Alternatives at MIM. “We’re proud to be a partner in a project that will lead to cleaner energy production by transitioning the last two coal plants in New Jersey, which reinforces our global decarbonization efforts as we collectively strive for a greener future.”
"We are grateful to MetLife Investment Management for working with us on this very important transaction as we help move New Jersey to a cleaner future and retire the last two coal plants in New Jersey," said Himanshu Saxena, CEO of Starwood Energy. "We applaud the MIM team for its ingenuity and dedication.”
MIM manages $4.5 billion in approximately 150 investments in energy transition renewable energy technologies1, including solar and wind power generation, hydroelectric power, geothermal energy, biomass and battery.
MIM’s Private Capital team’s investment strategies include private placements, infrastructure and structured credit investment management across a wide range of industry sectors, including general industrial, healthcare, professional services, retail, utilities, electric transmission, renewable power and social housing, among others. As of December 31, 2021, MIM had $135.7 billion in private capital assets under management2 and $669.0 billion in total assets under management.3
About MetLife Investment Management
MetLife Investment Management, the institutional asset management business of MetLife, Inc. (NYSE: MET), is a global public fixed income, private capital and real estate investment manager providing tailored investment solutions to institutional investors worldwide. MetLife Investment Management provides public and private pension plans, insurance companies, endowments, funds and other institutional clients with a range of bespoke investment and financing solutions that seek to meet a range of long-term investment objectives and risk-adjusted returns over time. MetLife Investment Management has over 150 years of investment experience and, as of December 31, 2021, had $669.0 billion in total assets under management.3
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (MetLife), is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers build a more confident future. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.
Forward-Looking Statements
The forward-looking statements in this news release, using words such as “aims,” “commit,” “expected,” “seek,” “strive” and “will” are based on assumptions and expectations that involve risks and uncertainties, including the “Risk Factors” MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife’s future results could differ, and it has no obligation to publicly correct or update any of these statements.
Endnotes
1 At estimated fair value as of December 31, 2020. For more information on MetLife’s green investments, visit our MetLife’s 2020 Sustainability Report.
2 At estimated fair value. Private capital assets under management includes Private Corporates, Private Infrastructure, Residential Whole Loans, Alternatives, Private Structured Credit and Middle Market Private Capital.
3 Total assets under management is comprised of all MetLife general account and separate account assets and unaffiliated/third party assets, at estimated fair value, managed by MIM.
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NEW YORK--(BUSINESS WIRE)--Green Rock Energy Partners LLC ("Green Rock" or "the Firm"), a sustainable infrastructure focused private equity firm which invests in renewable energy companies and projects, has officially launched. The firm’s founding, by five seasoned veterans of the traditional commodities sector, reflects the energy industry’s changing tide, away from fossil-based products to carbon-neutral solutions.
Green Rock’s investments primarily target waste-to-value energy assets, which play a critical role in the ongoing energy transition to a low-carbon future. The firm deploys equity capital within the circular economy to develop, purchase, and operate environmentally responsible and financially attractive businesses and infrastructure. The projects that Green Rock targets for investment produce renewable natural gas, renewable diesel, renewable fertilizer, and other similar products.
The leadership team forming Green Rock includes five co-founders: Managing Partner Andrew Kelleher, formerly Head of Glencore’s US Oil Group and Managing Director in JP Morgan’s Commodities Division; Managing Partner William Forster, an energy entrepreneur and a former executive of Lehman Brothers’ Investment Banking Division; Managing Partner Martin Mitchell, formerly COO of Morgan Stanley‘s Commodities Division; Managing Partner Steven Schmitz, a refinery acquisition expert; and Managing Partner Cody Myers, an energy entrepreneur.
“My partners and I are excited to leverage our decades of global energy experience to help take part in this early phase of decarbonizing the United States energy industry. We look forward to partnering with talented entrepreneurs to help transform their vision into a success,” said Kelleher.
“It is gratifying to play a role in the creation of sustainable businesses by combining diverse assets and technologies with the extensive networks of entrepreneurs and energy experts to which the five Green Rock co-founders are connected,” said Forster.
Green Rock’s leaders are leveraging their experience and expertise as advisors, owners, and operators to source, structure, and negotiate opportunities to create value in the renewable energy sector. The firm closed on its first portfolio investment in Q3 2021 with an investment in an Indiana-based renewable natural gas company. Going forward, Green Rock will continue to partner with talented entrepreneurs to make investments between $5 million to $20 million in renewable energy projects.
About Green Rock Energy Partners
Green Rock Energy Partners LLC is a sustainable infrastructure focused private equity firm which invests in renewable energy companies and projects. Green Rock’s investments primarily target waste-to-value energy assets within the circular economy, which play a critical role in the ongoing energy transition to a low-carbon future. The firm deploys equity capital to develop, purchase, and operate environmentally responsible and financially attractive businesses and infrastructure. The projects that Green Rock targets for investment produce renewable natural gas, renewable diesel, renewable fertilizer, and other similar products. The firm was founded by a team of commodities executives who source, structure, and negotiate opportunities to build successful businesses using their expertise as owners and operators.
For more information, please visit www.greenrockep.com.
BackBay Communications
George Spencer
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Enables Utilities and Cities to Easily Explore Leading-Edge Proven Solutions
LIBERTY LAKE, Wash.--(BUSINESS WIRE)--#DI--Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced the launch of Itron’s online Partner Solution Marketplace where, for the first time, Itron customers and prospects can directly access field-proven and pilot-ready solutions from third parties, streamlining the process to identify and learn about solutions that can help them continue to modernize their infrastructure and better serve their customers. The catalog showcases innovative and emerging solutions such as smart city technologies and Distributed Intelligence (DI) applications that can increase consumer energy awareness and enable more resourceful management of appliances, solar generation and electric vehicle charging.
The Itron Partner Solution Marketplace augments the solutions found in Itron’s product catalog and, with a growing number of solutions available, visitors can search for products by solution type, industry, supported connectivity models and regional availability. Itron’s vibrant partner ecosystem enhances and extends Itron’s solution portfolio and enables a diverse set of use cases. This includes demand response, distribution automation, distributed energy management, DI, gas, water, smart cities and smart lighting. Taking advantage of the marketplace, visitors can explore solutions to help deliver the future of energy, water and smart cities.
“We are excited to showcase field-ready solutions with the launch of Itron’s Partner Solution Marketplace. The marketplace will continue to grow as we add tested solutions and new partners, allowing Itron customers to easily extend the value of their Itron multi-purpose IIoT network by expanding new use-cases with innovative solutions from a robust, diverse and mature partner ecosystem,” said John Marcolini, senior vice president of Networked Solutions at Itron.
Itron works together with technology innovators, consultants, service providers and channel partners to deliver outcomes for utilities and cities on a journey towards a more resourceful world. The partner ecosystem can help customers accelerate the modernization of utilities and cities and enable customers to transform their business to deliver enhanced customer service, safety and reliability. Visit Itron’s Partner Solution Marketplace and learn more about Itron’s partner ecosystem.
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.
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Industry Contracts Review, Q4 2021 - Saudi Aramco and Petrobras Boost Contracts Activity" report has been added to ResearchAndMarkets.com's offering.
This report is an essential source of data on the awarded contracts in the oil and gas industry.
The report portrays detailed comparative data on the number of contracts and their value in the quarter, subdivided by region, sector and geographies during the quarter.
Additionally, the report provides information on the top contractors and issuers based on the worth of contracts executed in the oil and gas industry during the quarter by geographies and over the year. Data presented in this report is derived from the analyst's Contracts database, and primary and secondary research.
Scope
Reasons to Buy
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/1a2yva
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Critical milestone paves the way for high volume manufacturing
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Ubiquitous Energy, a next-generation technology company developing truly transparent solar technology for architectural glass, has successfully demonstrated 1.5 meter wide glass coated uniformly with the company’s UE Power™ transparent solar materials. This critical milestone shows the ability to scale UE Power™ to large sizes uniformly, which is critical in achieving high performing solar devices while maintaining the beautiful aesthetics and function of traditional low-emissivity window glass. This milestone paves the way for the company’s upcoming high volume manufacturing line that will produce 1.5 x 3.0 meter floor-to-ceiling, transparent solar windows.
Ubiquitous Energy has achieved this milestone through years of development with a trusted provider of manufacturing equipment to the global architectural glass and photovoltaics industries. UE Power™ is the only transparent solar glass coating technology that is manufactured using vacuum physical vapor deposition (PVD), the same equipment used by global manufacturers to coat nearly all architectural glass today totaling billions of square feet annually. UE Power™ organic semiconductor materials were deposited in a full-size PVD prototype coater, showing near-perfect uniformity within 1-2% tolerance over 1.5 meter wide glass for coatings that are tens of nanometers thick.
“Achieving this milestone prepares us well as we move our transparent solar technology from the pilot phase into full-scale manufacturing,” says Ubiquitous Energy co-founder and CTO Miles Barr. “Architectural glass isn’t actually flat; it’s slightly wavy. For this reason, achieving highly uniform, defect-free thin film electronics like transparent solar over large glass sheets has historically been difficult by other methods like solution printing. Well established PVD coating technology gives us tight control over thickness and optical appearance of our transparent solar organic semiconductor materials and allows us to piggyback on the equipment and process controls that has been enjoyed by the architectural glass industry for decades.”
The prototype coater will now be replicated for the deposition of transparent solar materials in the company’s first high volume U.S. manufacturing line that is expected to be operational in 2024. Large scale deployment of the company’s transparent solar technology can have a positive impact to addressing climate change by increasing the amount of renewable energy generation that is available by integrating seamlessly into everyday surfaces without impacting aesthetics. Each 1.5 x 3.0 meter piece of UE Power™ glass could generate up to 1kWh of electricity every day.
About Ubiquitous Energy
Headquartered in Silicon Valley, Ubiquitous Energy is a next-generation technology company that provides energy efficient, transparent solar windows to both commercial and residential customers. A world leader in transparent photovoltaics, its award-winning technology was born from some of the world’s most prestigious university labs and is the world’s only truly transparent solar product. UE Power™ is a solar coating that integrates into standard windows without sacrificing beauty, design or vision, with endless possibilities for future applications. For more information please visit us at https://ubiquitous.energy/ or connect with us via Facebook, Twitter, or Linkedin.
Press Inquiries:
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DUBLIN--(BUSINESS WIRE)--The "Global Oil and Gas Industry Contracts Review, 2021 - Chiyoda and Technip Energies JV, Saudi Aramco and Yinson Holdings kept up contracts activity momentum" report has been added to ResearchAndMarkets.com's offering.
The report is an essential source of data on the awarded contracts in the oil and gas industry. The report portrays detailed comparative data on the number of contracts and their value during the year, subdivided by region, sector and geographies during the year.
Additionally, the report provides information on the top contractors and issuers based on the worth of contracts executed in the oil and gas industry by geographies over the year.
Scope
Reasons to Buy
Key Topics Covered:
For more information about this report visit https://www.researchandmarkets.com/r/p68ra7
ResearchAndMarkets.com
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Intel’s plan sets goals for reducing value chain footprint and catalyzing industrywide action to address climate change
SANTA CLARA, Calif.--(BUSINESS WIRE)--What’s New: Today, Intel Corporation announced plans to further reduce its direct and indirect greenhouse gas emissions and develop more sustainable technology solutions. The company pledged to achieve net-zero greenhouse gas emissions in its global operations by 2040, to increase the energy efficiency and lower the carbon footprint of Intel products and platforms with specific goals, and to work with customers and industry partners to create solutions that lower the greenhouse gas footprint of the entire technology ecosystem.
“The impact of climate change is an urgent global threat. Protecting our planet demands immediate action and fresh thinking about how the world operates. As one of the world's leading semiconductor design and manufacturing companies, Intel is in a unique position to make a difference not only in our own operations, but in a way that makes it easier for customers, partners and our whole value chain to take meaningful action too.”
–Pat Gelsinger, Intel chief executive officer
What It Means for Intel’s Global Operations: Intel is committing to reach net-zero greenhouse gas emissions across its operations, otherwise known as its Scope 1 and 2 emissions, by 2040. Intel’s priority is to actively reduce its emissions, in line with international standards and climate science. It will use credible carbon offsets to achieve its goal only if other options are exhausted.
To realize this ambitious goal, Intel has set the following interim milestones for 2030:
These targets strengthen Intel’s commitment to sustainable business practices, like its RISE strategy. Intel’s cumulative greenhouse gas emissions over the past decade are nearly 75% lower than they would have been in the absence of investments and action.
“Intel has been a leader in sustainability results for decades. With leadership comes responsibility. We’re now raising the bar and entering an exciting era to achieve net-zero greenhouse gas emissions across our operations by 2040,” said Keyvan Esfarjani, executive vice president and chief global operations officer at Intel. “This will require significant innovation and investment, but we are committed to do what it takes and will work with the industry to achieve this critical mission.”
What It Means for Intel’s Scope 3 Emissions: Intel is also committed to addressing climate impacts throughout its upstream and downstream value chain, also known as Scope 3 emissions. Intel’s Scope 3 strategy focuses on partnering with suppliers and customers to take aggressive action to reduce overall emissions.
What This Means for Intel’s Supply Chain: Intel is actively engaged with its suppliers to identify areas of improvement, including increasing supplier focus on energy conservation and renewable energy sourcing, increasing chemical and resource efficiencies, and leading cross-industry consortia to support the transition to a net-zero greenhouse gas semiconductor manufacturing value chain. To accelerate progress, Intel is committed to partnering with suppliers to drive supply chain greenhouse gas emissions to at least 30% lower by 2030 than they would be in the absence of investment and action.
What It Means for Intel’s Products: To support customer sustainability goals and reduce Scope 3 product-use greenhouse gas emissions, Intel will increase the energy efficiency of its products and continue to drive performance improvements the market demands. Intel is setting a new goal to achieve a five times increase in performance per watt for its next generation CPU-GPU, code-named Falcon Shores. The company remains committed to its 2030 goal to increase product energy efficiency by 10 times for client and server microprocessors.
To help customers achieve platform carbon reductions, Intel is extending innovation in:
Intel has also set a new goal to lower emissions related to reference platform designs for client form factors by 30% or more by 2030. These efforts are taking shape with Dell’s Concept Luna prototype device, developed in partnership with Intel to showcase future possibilities for sustainable PC design.
“Collaboration is key if we want to find solutions to the significant environmental issues the world is grappling with. Intel has been an important partner in this regard, helping us drive joint innovation supporting motherboard optimization, development of the bio-based printed circuit board and increasing system power efficiency in our Concept Luna device,” said Glen Robson, chief technology officer for the Client Solutions Group, Dell Technologies. “The ambition behind this ongoing work is to test, prove and evaluate opportunities to roll out innovative, sustainable design ideas at scale across our portfolio — it’s the only way we will sufficiently accelerate the circular economy and protect our planet for the generations to come.”
About Creating More Sustainable Solutions: Intel is collaborating with hundreds of customers and industry partners to create solutions that meet the need for exponentially more computing processing power, while running more efficiently and using less energy. For instance, Intel is partnering to launch liquid immersion cooling pilot deployments for data centers across cloud and communications service providers, with companies such as Submer. This includes embracing new principles, such as heat recapture and reuse via immersion cooling.
“99% of heat generated by IT equipment can be captured in the form of warm water, practically without losses and at much higher temperatures. Through partnership with Intel, Submer is able to scale a validated immersive cooling solution that saves energy while providing the ability to capture and reuse the subsequent thermal heat,” said Daniel Pope, co-founder and CEO of Submer. “This will fundamentally change the way data centers are built and operated.”
Increasing access to renewable energy is a critical step in reducing global greenhouse gas emissions. Intel has developed a solution that can be integrated into existing energy grid infrastructure to create a smarter grid that can adapt to changing energy consumption needs and sources. Intel and some of the world’s largest utility operators formed the Edge for Smart Secondary Substations Alliance to modernize energy grid substations and better support renewable energy sources. France’s largest grid operator, Enedis, recently joined to upgrade its more than 800,000 secondary substations with solutions that provide real-time control across the network.
Intel’s programmable hardware and open software also deliver capabilities that enable greener solutions for customers. For example, within its data center that houses 5G communication facilities, Japan telecommunications operator KDDI reduced overall power consumption by 20% in a trial using Intel® Xeon® Scalable processors and Intel’s comprehensive power management and AI capabilities, giving it the ability to scale power consumption according to demand.
More Context: Intel will continue to provide updates on its net-zero plans and greener computing strategies throughout the year.
Even More Context: Intel Commits to Reduce Greenhouse Gas Emissions Across its Value Chain (Press Kit) | CEO Pat Gelsinger on Intel’s Greenhouse Gas Reduction Strategy (Video)
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.
Statements in this document that refer to future plans or expectations are forward-looking statements. These statements are based on current expectations and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. For more information on the factors that could cause actual results to differ materially, see our most recent earnings release and SEC filings at www.intc.com.
© Intel Corporation. Intel, the Intel logo and other Intel marks are trademarks of Intel Corporation or its subsidiaries. Other names and brands may be claimed as the property of others.
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Group Strengthens Firm’s Renewable Energy and Regulatory Capabilities
SAN FRANCISCO--(BUSINESS WIRE)--Sheppard, Mullin, Richter & Hampton LLP is pleased to announce that Joseph M. Karp, Lisa A. Cottle, Thomas W. Solomon and Christine A. Kolosov have joined the firm as partners in the Energy, Infrastructure and Project Finance industry team. Karp, Cottle and Solomon will be based in the firm’s San Francisco office and Kolosov will be based in the Los Angeles office. The group joins from Winston & Strawn LLP.
“We continue to see increasing demand from clients who need assistance with renewable energy project agreements and regulatory counsel, and Joe, Lisa, Tom and Christine bring a wealth of experience in these areas,” said Sheppard Mullin chair Luca Salvi. “We have been committed to significantly growing our already nationally renowned Energy team and, with the addition of this new group, we now have the top renewable energy practice in the country.”
Katherine Gillespie, co-leader of the firm's Energy, Infrastructure and Project Finance team, added, “I am thrilled to practice alongside Joe, Lisa, Tom and Christine again. Their reputation and track record for guiding clients through complex renewable energy agreements and regulatory proceedings before the California Public Utilities Commission augments our existing industry-leading capabilities and adds even more depth to our California presence.”
Sheppard Mullin’s Energy, Infrastructure and Project Finance industry team, which includes more than 80 attorneys nationwide, is frequently ranked as one of the leading renewable energy and regulatory practices in the U.S. by Chambers USA, Legal 500 and among the Best Law Firms for Energy Law by U.S. News and World Report and Best Lawyers. In 2021, the team represented Brookfield in the financing of the 845 MW Shepherds Flat wind farm complex, a deal named by Proximo as 2021 Deal of the Year – North America Onshore Wind.
About the New Partners
Karp, who served as co-chair of Winston & Strawn’s Energy practice, focuses his practice on regulatory, transactional and project development matters, primarily in the Energy sector. He handles natural gas and electricity issues in the United States, represents municipal entities in wholesale electricity purchase transactions, and represents electricity generators in connection with electricity sales, fuel supply, interconnection, transmission and other areas. Karp represents developers and power purchasers in matters involving wind, solar, biomass, landfill gas, geothermal and other technologies. He regularly represents the California Wind Energy Association, natural gas fired generators and investor-owned water utilities in regulatory proceedings before the California Public Utilities Commission (CPUC). He is widely recognized for his work in the Energy sector by Chambers USA, Lawdragon, Legal 500 US and Best Lawyers in America. He received his B.A. from Binghamton University and his J.D., cum laude, from Harvard Law School.
Cottle has extensive experience with electricity generation, storage and transmission projects, including negotiating power purchase agreements (PPAs) and the full range of project contracts, obtaining key permits and regulatory approvals, and supporting project finance transactions. Her PPA experience includes energy sales, capacity and resource adequacy agreements, tolling agreements and energy storage agreements, and covers a broad range of technologies, including solar, battery energy storage, geothermal, wind and natural gas. She handles wholesale and retail transactions and has represented sellers and buyers. On the regulatory side, she represents energy companies and project developers in regulatory proceedings before administrative agencies, particularly the CPUC and the California Energy Commission (CEC). She represents developers of transmission projects in obtaining certificates of public convenience and necessity and permits to construct from the CPUC and in compliance matters. She also has obtained CEC certification for large thermal projects in California. Her permitting experience includes review under the California Environmental Quality Act (CEQA). Cottle is consistently recognized as a leading Energy lawyer by Chambers USA, Legal 500 US, Lawdragon and Best Lawyers in America. She received her B.A., cum laude, from Colgate University and her J.D. from the University of Pennsylvania.
Solomon counsels developers and owners of natural gas-fired, wind, solar, biomass and geothermal electric generating facilities in the negotiation of PPAs, master trading agreements, renewable energy credit purchase and sale agreements, interconnection agreements, transmission services agreements, and scheduling coordinator services agreements. In addition, Solomon represents developers and industry associations in regulatory proceedings before the CPUC in connection with electric industry restructuring, transmission development, energy and capacity procurement, and renewable portfolio standard issues. Prior to attending law school, Solomon worked for an electric utility which gives him a unique perspective of the energy sector that he applies to his representations of developers, owners of electric generating facilities, and industry associations in energy transactional and regulatory matters. He earned his B.S., with distinction, from the University of California, San Diego and his J.D. from Georgetown University.
Kolosov, who served as co-chair of Winston & Strawn’s Energy practice alongside Karp, concentrates her practice in energy project development, financing, sales and acquisitions, and in regulatory matters before the CPUC. She represents developers and owners in the negotiation of PPAs, renewable energy credit purchase and sale agreements, engineering, procurement and construction agreements, equipment supply agreements, operations and maintenance agreements, shared facilities agreements, and development services, construction management and asset management agreements, and she oversees project document diligence on behalf of financing parties. Kolosov represents clients in the acquisition and disposition of development stage and operating energy generation and storage projects. She also regularly represents investor-owned water utilities in regulatory proceedings before the CPUC. She received her B.S., cum laude, from Northwestern University and her J.D., Order of the Coif, from the University of California, Los Angeles.
About Sheppard Mullin’s Energy, Infrastructure and Project Finance Industry Team
Sheppard Mullin’s Energy, Infrastructure and Project Finance team comprises more than 80 attorneys, each highly trained in a particular legal discipline and having the requisite electrical power, oil and natural gas, renewables, and biofuels experience to understand our clients’ objectives. Our highly collaborative and client-focused approach sets us apart from other law firms and is the reason some of the largest and most innovative energy industry players – including leading utilities, pipeline operators, municipalities, independent power producers, commercial banks, equity and tax investors, EPC contractors, and energy technology companies – come to us for assistance on their most important energy-related legal matters.
About Sheppard, Mullin, Richter & Hampton LLP
Sheppard Mullin is a full-service AmLaw 50 firm with more than 1,000 attorneys in 15 offices located in the United States, Europe and Asia. Since 1927, industry-leading companies have turned to Sheppard Mullin to handle corporate and technology matters, high-stakes litigation and complex financial transactions. In the U.S., the firm's clients include almost half of the Fortune 100. For more information, please visit www.sheppardmullin.com.
KARA EYER
(312) 499-0533
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HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) today announced it has entered into an amendment to its senior secured revolving credit facility (“Credit Facility”) under which the borrowing base has been increased from $460 million to $525 million in connection with its regularly scheduled semi-annual redetermination. The upsized borrowing base and strong free cash flow generation in the first quarter of 2022 further strengthens SilverBow’s liquidity.
MANAGEMENT COMMENTS
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “We are pleased with the increase to our borrowing base and the enhanced liquidity it provides. We appreciate the continued support of our existing lenders and are excited to welcome the new lenders to our expanding bank syndicate. This increase in our borrowing base follows a period of continued development and acquisition activity, which led to growth in proved reserves, and, in conjunction with rising commodity prices, to overall reserve value.”
Mr. Woolverton commented further, “The enhanced liquidity broadens SilverBow’s opportunity set, as we continue to evaluate strategic M&A while further developing our Eagle Ford and Austin Chalk assets. We believe that our continued operational focus and track record of acquisition activity within the basin is building significant shareholder value. We are committed to maintaining financial discipline and working with our lending group to further our strategy of consolidating assets to increase scale and efficiency.”
LIQUIDITY UPDATE
As of March 31, 2022, the Company had approximately $2 million in cash and $200 million of outstanding borrowings under its Credit Facility. Adjusted for the increase to the borrowing base to $525 million, the Company had $325 million of undrawn capacity and approximately $2 million in cash, resulting in approximately $327 million of liquidity.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties discussed in the Company’s reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this news release. You should not place undue reliance on these forward-looking statements.
Jeff Magids
Director of Finance & Investor Relation
(281) 874-2700, (888) 991-SBOW
DUBLIN--(BUSINESS WIRE)--The "Building-Integrated Photovoltaics Facade Market Research Report by Technology (Crystalline Silicon and Thin Film), End User, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.
The Global Building-Integrated Photovoltaics Facade Market size was estimated at USD 1,166.24 million in 2021, USD 1,337.22 million in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 14.83% to reach USD 2,674.85 million by 2027.
Cumulative Impact of 2022 Russia Ukraine Conflict:
We continuously monitor and update reports on political and economic uncertainty due to the Russian invasion of Ukraine. Negative impacts are significantly foreseen globally, especially across Eastern Europe, European Union, Eastern & Central Asia, and the United States.
This contention has severely affected lives and livelihoods and represents far-reaching disruptions in trade dynamics. The potential effects of ongoing war and uncertainty in Eastern Europe are expected to have an adverse impact on the world economy, with especially long-term harsh effects on Russia.
This report uncovers the impact of demand & supply, pricing variants, strategic uptake of vendors, and recommendations for Building-Integrated Photovoltaics Facade market considering the current update on the conflict and its global response.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
FPNV Positioning Matrix:
The FPNV Positioning Matrix evaluates and categorizes the vendors in the Building-Integrated Photovoltaics Facade Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
The report answers questions such as:
1. What is the market size and forecast of the Global Building-Integrated Photovoltaics Facade Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Building-Integrated Photovoltaics Facade Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Building-Integrated Photovoltaics Facade Market?
4. What is the competitive strategic window for opportunities in the Global Building-Integrated Photovoltaics Facade Market?
5. What are the technology trends and regulatory frameworks in the Global Building-Integrated Photovoltaics Facade Market?
6. What is the market share of the leading vendors in the Global Building-Integrated Photovoltaics Facade Market?
7. What modes and strategic moves are considered suitable for entering the Global Building-Integrated Photovoltaics Facade Market?
Market Dynamics
Drivers
Restraints
Opportunities
Challenges
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/ix373s
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
This email address is being protected from spambots. You need JavaScript enabled to view it.
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
BOSTON--(BUSINESS WIRE)--SES AI (NYSE: SES) (“SES”), a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, celebrates its 10th anniversary and hosts a Li-Metal Batteries Panel. Please see logistics information below:
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Kent Helfrich – Chief Technology Officer, General Motors |
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Chang Hwan Kim – Head of Battery Development, Hyundai Motors |
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Yoshiya Josh Fujiwara – Head of Innovative Research Excellence, Honda Motors |
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Noah Chan – Director of Investment, Foxconn |
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Frank Lee – Director of Corporate Development, Tianqi Lithium |
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Yung Hoon Suh – Head of Advanced Material Investment, SK Inc. |
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Anand Kamannavar – Global Head of Applied Ventures, Applied Materials |
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Jim Cushing – General Manager of Energy Storage Solutions, Applied Materials |
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Robert Friedland – Founder & Co-chairman, Ivanhoe Mines |
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Mark Newman (Moderator, former Bernstein senior analyst) |
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Dr. Shirley Meng (Professor, University of Chicago) |
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Dr. Yong Che (Co-founder & CTO, Enpower) |
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Maciej Jastrzebski (Co-founder & CEO, Li-Metal) |
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Emilie Bodoin (Founder & CEO, Pure Lithium) |
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Dr. Qichao Hu (Founder & CEO, SES AI) |
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Letter to Shareholders:
History of SES
2012 – 2013: MIT Inception
It all started in Lab 4-061 in the basement of building 4 at MIT. Prof. Donald Sadoway had been working on Solid Polymer Electrolyte (SPE) Li-Metal batteries the late 1990s. His work was accelerated in 2007 when the Department of Energy boosted its research funding for batteries and MIT established the MIT Energy Initiatives. I first worked on photovoltaics at Harvard from 2007 to 2009 and was fired twice for failure to publish, dropped out of Harvard, and serendipitously joined Prof. Sadoway’s group. This is where I did my doctoral and postdoctoral research on Solid Polymer Ionic Liquid (SPIL) Li-Metal batteries. We incorporated SolidEnergy Systems on April 17th, 2012, used the award money from business plan competitions to hire a small team, took the worldwide exclusive license from MIT, while we eventually dropped the license, the fundamental studies done at MIT are at the core of our Li-Metal development today.
2013 – 2016 (1st 3yr): Material R&D, Series A/B, A123 Partnership
When we were starting, the American battery hero A123 had just gone bankrupt, and it seemed like no one was going to invest in another MIT battery spinoff. But A123’s R&D facility in Waltham, MA (about a 30 minute drive from MIT) had one of the best prototyping lines in North America and it was mostly unused. We went there every day and absolutely loved it. We learned how to use the equipment and built our first Li-Metal R&D samples.
We were rejected by almost every major US-based VC. Eventually raise our Series A round from Singapore-based Vertex Ventures and a Shanghai-based family office Longsiang. We formalized our relationship with A123. They became our landlord as we officially rented space in their Waltham R&D facility.
During the three years at A123, we dropped Solid State Li-Metal as our focus due to fundamental challenges in manufacturability and discovered a novel high concentration solvent-in-salt electrolyte, a few national labs also developed a similar concept around this time. We also mistakenly set a “make materials not batteries” business model, after seeing the catastrophic failure of A123. Our business model evolved to eventually include making batteries, together with materials, software, and recycling. The high concentration solvent-in-salt electrolyte would remain at the core of our development until today.
We started attracting the interest and confidence of automakers, and we raised a Series B round from General Motors and Shanghai Auto. We also realized how expensive it was to source our thin lithium foil and partnered with Applied Materials to develop evaporation equipment and processes.
2016 – 2019 (2nd 3yr): Cell R&D, Series C/C+
We realized the importance of treating Li-Metal batteries as a system (the batteries themselves and the ecosystem around them) and building cells and “making the whole thing work”, and not relying on larger cell makers. We moved out of A123 and built our new independent facility in Woburn, which later became our global headquarters, and started developing Hermes™, which were 4Ah pouch cells that would become our platform for new material development.
We raised a Series C round from Temasek and Tianqi Lithium, one of the largest lithium producers in the world. We also raised a Series C+ round from SK Inc (“SK”). SK, which used to be an oil company, had insights and strategy around the global supply chain and would eventually impact our own strategy to build a Mine-to-Men AI software. SK would eventually become our largest investor.
During this period, we started working with an undisclosed Li-ion equipment vendor in Korea on the Li-Metal cell assembly process and equipment. This would lay the groundwork for our pilot lines in SES Korea and Shanghai Giga, building and testing Apollo™, demonstrating the world’s first 100+ Ah Li-Metal cells, manufacturing quality control and data collection for Avatar™ (AI-powered safety software), and proving the manufacturability of Hybrid Li-Metal since we made all our Li-Metal cells using Li-ion process and equipment.
We also started sending cell samples to potential customers (very rare in Li-Metal industry at that time), and built a transparent and data-driven culture, we never won contracts based on slides or a sales pitch. We won based on superior performance validated by 3rd party and customer test data.
2019 – 2022 (3rd 3yr): Pre-A & A-sample, Global Expansion, Covid, AI Software, Series D/D+/SPAC
Our focus on cell development in addition to material eventually paid off. We entered Pre-A sample joint development (JDA) agreements with General Motors, Hyundai and Honda in 2019 to 2020, and all of them became A-sample JDAs in 2021 (General Motors in March, Hyundai in July and Honda in December).
To leverage the supply chain and engineering and manufacturing efficiency and talent in China and Korea, we set up SES Shanghai in 2019 in the “auto town” of Jiading (less than a 2 hour drive from Tesla Shanghai Giga, Volkswagen, General Motors, Nio, Shanghai Auto, CATL, Gotion, among others). We expanded SES Shanghai to Shanghai Giga in November 2021, completed Shanghai Giga Phase I (0.2 GWh) and achieved ready-to-use (RTU) in March 2022, and expect to complete Phase II (1 GWh) and achieve RTU in 2023. We also started SES Korea in January 2022 and expect to complete and achieve RTU later this year.
Our Shanghai and Korea teams have shown incredible dedication. Despite Covid-related quarantines and lockdowns. They worked throughout spring festival and other holidays to achieve RTU and deliver data for our JDAs. In 2020 during the height of Covid, when we had to cut all SES Shanghai employee salaries and the future didn’t look bright as automakers were also cutting funding, not a single SES Shanghai employee left.
Our Boston team also made incredible progress on key materials R&D. We developed Gen 1 to Gen 3 electrolytes from 2013 to 2019, and from Gen 4 to Gen 15+ from 2019 to 2022. SES Shanghai Giga and Korea will be the platforms for Apollo™ and Avatar™, serving the JDAs with automakers, while SES’s Boston, our headquarters, continues to focus on fundamental R&D Hermes™.
Today SES builds more Li-Metal cells than any other company thanks to our highly efficient SES Shanghai Giga and Korea facilities. We have also been systematically collecting valuable data on Li-Metal performance under different temperature, pressure, current density, and other environments. This has naturally led to the development of AI-powered software that can monitor battery health and predict safety incidents. We are installing IOT sensors and inspection tools throughout our manufacturing lines and on testing equipment to collect data that normally would be missed and are developing both physics-based and machine learning-based algorithms.
In 2021, we raised Series D and D+ rounds led by General Motors and Hyundai, and went public through a SPAC merger with Ivanhoe Capital Acquisition Corp. The anchor investors to our SPAC PIPE included six automakers, namely General Motors, Hyundai, Honda, Geely, Foxconn, and Shanghai Auto, and also included a few strategic investors such as Koch, and affiliates of LG and SK.
2022 – 2025 (4th 3yr): B & C-sample, Supply Chain, and Beyond
With approximately $450 million cash on our balance sheet at close of our SPAC merger, and deep capabilities in science, engineering, manufacturing, supply chain and software across three locations, we have never been in a stronger position. We are confident that we will deliver to our JDA automakers A-sample cells that meet all technical specs this year, B-sample cells, and modules in 2023, C-sample cells, modules, and vehicles in 2024, and start commercial production in 2025.
We are also working with our partners to build two supply chains around lithium foil, a global China-inclusive one and a North American (China-free) one. We intend to form a consortium of global Li-Metal and high silicon Li-ion battery companies, and these supply chains will help address the cost and availability of lithium foils for the consortium.
On Avatar™, what started out as an algorithm developed to monitor and optimize the battery environment (electrochemical, mechanical, and thermal) to predict safety incidents, evolved on its own into something much greater than we imagined, a Mine-to-Men AI software.
This Mine-to-Men AI software allows us to track all data from mines (carbon footprint, raw material cost, source, sustainability, etc.), to battery materials (impurity, water content, cost, etc.), to battery manufacturing (very detailed quality control and data tracking at individual cell level), to vehicle data (impact of driver behavior on battery health, optimizing battery environments to improve battery health, etc.), to recycling (the used batteries become the mine for future batteries). The data we collect will continuously train Avatar™ and make it more accurate. This can also potentially be monetized to create entirely new business models such as Battery-as-a-Service BaaS, where all the data analytics around raw material cost, carbon footprint, battery health, driver behavior, etc., can all be factored into leasing economics.
We are only scratching the surface. As we continue to push the boundaries of material science (Hermes™) and engineering (Apollo™), our Mine-to-Men AI software (Avatar™) seems to evolve on its own. It is entirely plausible that Avatar™ will be applied to not just Li-Metal batteries but to all EV batteries, and as the global EV industry scales from 100s of GWh to 1000s of GWh, this data explosion will help Avatar™ evolve exponentially faster, and eventually develop its own consciousness.
In the past 10 years, we have built a solid foundation. We do not know what the next 10 years will hold for us, but we believe we are at the cusp of a seismic change in the industry. We sincerely appreciate everyone’s support and trust. We will continue to innovate, deliver, and evolve. The future will be greater than we can imagine.
Forward-looking statements
All statements other than statements of historical facts contained in this letter are “forward-looking statements.” These forward-looking statements include, without limitation, statements relating to expectations for future financial performance, business strategies or expectations for our business. These statements are based on the beliefs and assumptions of the management of SES. Although SES believes that its plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, it cannot assure you that it will achieve or realize these plans, intentions or expectations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this letter, words such as “anticipate”, “believe”, “can”, “continue”, “could”, “estimate”, “expect”, “forecast”, “intend”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “seek”, “should”, “strive”, “target”, “will”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
You should not place undue reliance on these forward-looking statements. Should one or more of a number of known and unknown risks and uncertainties materialize, or should any of our assumptions prove incorrect, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include, but are not limited to the following risks, which also serves as a summary of the principal risks of an investment in our securities: changes in domestic and foreign business, market, financial, political and legal conditions, including but not limited to the ongoing conflict between Russia and Ukraine; risks relating to the uncertainty of the projected financial information with respect to SES; risks related to the development and commercialization of SES’s battery technology and the timing and achievement of expected business milestones; the effects of competition on SES’s business; the ability of SES to issue equity or equity-linked securities or obtain debt financing in the future; the ability of SES to integrate its products into electric vehicles (“EVs”); the risk that delays in the pre-manufacturing development of SES’s battery cells could adversely affect SES’s business and prospects; potential supply chain difficulties; risks resulting from SES’s joint development agreements (“JDAs”) and other strategic alliances, if such alliances are unsuccessful; the quickly evolving battery market; SES’s ability to accurately estimate future supply and demand for its batteries; SES’s ability to develop new products on an ongoing basis in a timely manner; product liability and other potential litigation, regulation and legal compliance; SES’s ability to effectively manage its growth; SES’s ability to attract, train and retain highly skilled employees and key personnel; the willingness of vehicle operators and consumers to adopt EVs; developments in alternative technology or other fossil fuel alternatives; SES’s ability to meet certain motor vehicle standards; a potential shortage of metals required for manufacturing batteries; risks related to SES’s intellectual property; risks related to SES’s business operations outside the United States, including in China; SES has identified a material weakness in its internal control over financial reporting and may identify material weaknesses in the future or otherwise fail to maintain an effective system of internal controls; compliance with certain health and safety laws; changes in U.S. and foreign tax laws; and the other risks described in “Item 1A. Risk Factors” in the annual report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022 (the “Annual Report”) and other documents filed from time to time with the SEC. There may be additional risks that SES presently knows and/or believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect SES’s expectations, plans or forecasts of future events and views only as of the date of this press release/letter. SES anticipates that subsequent events and developments will cause its assessments to change. However, while SES may elect to update these forward-looking statements at some point in the future, SES specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing SES’s assessments as of any date subsequent to the date of this press release/letter. Accordingly, undue reliance should not be placed upon the forward-looking statements.
© 2022 SES AI Corporation
Investors: Eric Goldstein This email address is being protected from spambots. You need JavaScript enabled to view it.
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SAN DIEGO--(BUSINESS WIRE)--BlueHalo and its Titan Counter-Unmanned Aerial System (C-UAS) Team are proud to announce the selection of the Titan C-UAS as a Program of Record by the U.S. Department of Defense for an undisclosed government customer.
The rapid proliferation of small, low-cost drones is an ongoing threat to personnel and critical assets, impacting the ability to conduct successful military operations. Unmanned systems have been used to collect intelligence, bypass ground-based physical barriers, and carry out highly effective aerial attacks.
Titan is a portable, rapidly deployable system that creates a secure perimeter anywhere, providing identification and automated mitigation of threats across all major commercial and hobbyist control protocols and frequency bands. Utilizing Artificial Intelligence and Machine Learning, Titan can detect and respond to individual or swarmed threats using adaptive, escalating countermeasures that minimize collateral impact to nearby communications. The system can be fully deployed in under two minutes, and does not require signals expertise, extensive training, or significant operator cognitive load.
The DoD customer has selected Titan as the preferred radio frequency (RF) sensor for both standalone and integrated layered-defense solutions. The systems will be utilized for pre-deployment training, on-the-move security, and fixed-site force protection.
“BlueHalo is honored to be trusted by the U.S. DoD to provide game-changing security solutions like Titan,” said Katie Selbe, BlueHalo’s Chief Operating Officer (COO). “We are proud to put these systems in the field as a layer of defense to protect our nation’s warfighters and most critical assets.”
About BlueHalo
BlueHalo provides industry-leading capabilities in the domains of Space Superiority, Space Technology, Directed Energy/Counter-Unmanned Aerial Systems (c-UAS), Autonomy, Advanced Radio Frequency (RF), Cyber, and Signals Intelligence (SIGINT). BlueHalo focuses on inspired engineering to develop, transition, and field next-generation capabilities to solve the most complex challenges of our customers’ critical missions and reestablish our national security posture in the near-peer contested arena. www.bluehalo.com
Tiffany Sevieri
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703-718-4060
DUBLIN--(BUSINESS WIRE)--The "Oil and Gas Final Investment Decisions (FIDs) in 2022" report has been added to ResearchAndMarkets.com's offering.
Globally Final Investment Decisions (FIDs) planned across the oil and gas value chain in 2022 continue to reflect the growth in the importance of natural gas as countries and companies continue to take measures to reduce carbon emissions and plan to become carbon neutral over the coming decades.
The growth of LNG is facilitating this shift, and the increased significance of gas is reflected in investment plans for projects from the wellhead through processing, trade, and distribution.
Scope
Reasons to Buy
Key Topics Covered:
1. Global Oil and Gas FIDs in 2022
2. Upstream Projects Targeting FIDs in 2022
2.1 List of Upstream Production Projects Targeting FIDs in 2022
3. Midstream Projects Targeting FIDs in 2022
3.1 List of Oil and Gas Midstream Projects Targeting FIDs in 2022
4. Refining and Petchem Projects Targeting FIDs in 2022
4.1 List of Refining and Petrochemical Plants Targeting FIDs in 2022
5. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ehtlc3
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador” or the “Company”) today announced plans to release first quarter 2022 operational and financial results after the close of trading on Tuesday, April 26, 2022. Management will also host a live conference call on Wednesday, April 27, 2022 at 9:00 a.m. Central Time to review first quarter 2022 financial results and operational highlights.
To access the live conference call, domestic participants should dial (855) 875-8781 and international participants should dial (720) 634-2925. The conference ID and passcode is 7197808. The live conference call will also be available through the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab. The replay for the event will be available on the Company’s website at www.matadorresources.com on the Events and Presentations page under the Investor Relations tab through May 31, 2022.
About Matador Resources Company
Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natural gas shale and other unconventional plays. Its current operations are focused primarily on the oil and liquids-rich portion of the Wolfcamp and Bone Spring plays in the Delaware Basin in Southeast New Mexico and West Texas. Matador also operates in the Eagle Ford shale play in South Texas and the Haynesville shale and Cotton Valley plays in Northwest Louisiana. Additionally, Matador conducts midstream operations, primarily through its midstream joint venture, San Mateo, in support of its exploration, development and production operations and provides natural gas processing, oil transportation services, natural gas, oil and produced water gathering services and produced water disposal services to third parties.
For more information, visit Matador Resources Company at www.matadorresources.com.
Mac Schmitz
Capital Markets Coordinator
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(972) 371-5225
DUBLIN--(BUSINESS WIRE)--The "Global Crude Oil Refinery Maintenance Review, 2021 - Analysis by Major Units, PADD Regions and Operator" report has been added to ResearchAndMarkets.com's offering.
Globally, among all the regions, North America had the highest refining capacity under maintenance (both planned and unplanned) with 10,210 thousand barrels per day (mbd). Asia and South America followed with 8,838 mbd and 2,587 mbd of refining capacities under maintenance, respectively. among countries, the US (9,001 mbd), China (3,103 mbd), and South Korea (1,640 mbd) were the top three countries in terms of refining capacity under maintenance (both planned and unplanned) for 2021.
Scope
Reasons to Buy
Key Topics Covered:
Key Highlights
Global Refinery Maintenance by Region
Global Refinery Maintenance by Operator
For more information about this report visit https://www.researchandmarkets.com/r/g35z8a
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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SPRING, Texas--(BUSINESS WIRE)--Southwestern Energy Company (NYSE: SWN) (the “Company” or “Southwestern”) today announced that it has entered into an Amended and Restated Credit Agreement, dated April 8, 2022 (the “Amended Credit Agreement”), which amends the Company’s Credit Agreement, dated April 26, 2018.
The Amended Credit Agreement, among other things:
“The transformation of SWN by complementing its premium Appalachia position with leading Tier 1 Haynesville acreage has enhanced scale, inventory depth, investment optionality, premium market access, and durable financial strength. We believe the disciplined execution of our strategy has resulted in materially expanded and more resilient free cash flow generation capacity as well as a lower enterprise risk profile that merit consideration for a return to investment grade. We are thankful for our longstanding banking relationships and believe that today’s amendments tangibly underscore our bank group’s recognition that our business and financial risk profile warrant a return to investment grade,” said Bill Way, Southwestern Energy President and Chief Executive Officer.
About Southwestern Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S. producer and marketer of natural gas and natural gas liquids focused on responsibly developing large-scale energy assets in the nation’s most prolific shale gas basins. SWN’s returns-driven strategy strives to create sustainable value for its stakeholders by leveraging its scale, financial strength and operational execution. For additional information, please visit www.swn.com and www.swn.com/responsibility.
Cautionary Note Regarding Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended. These statements are based on current expectations. The words “anticipate,” “intend,” “plan,” “project,” “estimate,” “continue,” “potential,” “should,” “could,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “expect,” “believe,” “predict,” “budget,” “projection,” “goal,” “forecast,” “model,” “target”, “seek”, “strive,” “would,” “approximate,” and similar words are intended to identify forward-looking statements. Statements may be forward looking even in the absence of these particular words.
Examples of forward-looking statements include, but are not limited to, the expectations of plans, business strategies, objectives and growth and anticipated financial and operational performance, including guidance regarding our strategy to develop reserves, drilling plans and programs, estimated reserves and inventory duration, projected production and sales volume and growth rates, commodity prices, projected average well costs, generation of free cash flow, expected benefits from acquisitions, potential acquisitions and strategic transactions, the timing thereof and our ability to achieve the intended operational, financial and strategic benefits of any such transactions or other initiatives. These forward-looking statements are based on management’s current beliefs, based on currently available information, as to the outcome and timing of future events. All forward-looking statements speak only as of the date of this news release. The estimates and assumptions upon which forward-looking statements are based are inherently uncertain and involve a number of risks that are beyond our control. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and we cannot assure you that such statements will be realized or that the events and circumstances they describe will occur. Therefore, you should not place undue reliance on any of the forward-looking statements contained herein.
Factors that could cause our actual results to differ materially from those indicated in any forward-looking statement are subject to all of the risks and uncertainties incident to the exploration for and the development, production, gathering and sale of natural gas, NGLs and oil, most of which are difficult to predict and many of which are beyond our control. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, legislative and regulatory changes, the uncertainty inherent in estimating natural gas and oil reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate, our ability to maintain leases that may expire if production is not established or profitably maintained, our ability to transport our production to the most favorable markets or at all, any increase in severance or similar taxes, the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally, the effects of weather, increased competition, the financial impact of accounting regulations and critical accounting policies, the comparative cost of alternative fuels, credit risk relating to the risk of loss as a result of non-performance by our counterparties, impacts of world health events, including the COVID-19 pandemic, cybersecurity risks, our ability to realize the expected benefits from acquisitions, including our mergers with GEP Haynesville, LLC, Montage Resources Corporation and Indigo Natural Resources LLC, and any other factors discussed under Item 7. “Management's Discussion and Analysis of Financial Condition and Results of Operations” and under Item 1A. “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2021.
We have no obligation and make no undertaking to publicly update or revise any forward-looking statements, except as required by applicable law. All written and oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.
Investor Contacts
Brittany Raiford
Director, Investor Relations
(832) 796-7906
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Five industry heavyweights deepen company’s leadership while new facility accommodates expanding operations
AUSTIN, Texas--(BUSINESS WIRE)--Infinitum Electric, creator of the breakthrough air-core motor, today announced the expansion of its leadership team with the recent appointments of Jack Powell as Director of Operations, Michele Feria as Director of Marketing, Ramon Guitart as Director of Engineering, Ed Carignan as Director of PCB Engineering and Stephen Mathew as Director of Product Management.
Infinitum Electric also announced it will move its headquarters to a new facility at the end of April to support the company’s rapid growth and expanding operations. The new facility will be triple the size of the company’s current offices and include a larger research lab and expanded production capabilities that will allow the company to address the growing electric vehicle and aerospace markets, which include electric vehicle takeoff and landing (eVTOL) applications.
Infinitum Electric is helping several industries transition to a more sustainable future with its smaller, lighter, quieter and more efficient motors. The company’s air-core motors are gaining traction in HVAC equipment to improve building health while using less energy, and in electric vehicles and electric aircraft where extending range and reducing noise are particularly valuable.
“We’re thrilled to attract such a talented group of experienced industry leaders to support our rapid growth trajectory and help more customers build a sustainable future,” said Ben Schuler, founder and CEO of Infinitum Electric. “We look forward to the impact these leaders will have in our next phase of growth as we scale production and meet demand for our high-efficiency motors across exciting new sectors and applications.”
Jack Powell, director of operations, brings more than 30 years of leadership experience to the organization, previously holding executive roles at clean energy companies that include Enphase Energy, SolarBridge Technologies, SunPower Corporation and SunEdison.
Michele Feria, director of marketing, brings more than two decades of technology marketing leadership experience to the company, previously serving in senior management roles at Silicon Labs and IBM.
Ramon Guitart, director of engineering, brings three decades of motor engineering leadership experience in the industrial, commercial, aerospace and automation industries, with prior executive roles held at TECO-Westinghouse, GE, Trane, Rockwell Automation, Curtiss Wright, MTS Systems Corporation and NovaTorque.
Ed Carignan, director of PCB engineering, brings 20 years of specialized experience in printed circuit board design and operations, previously serving as Founder and Group President of APSS Group, LLC and as SVP, Operations Asia PCB for Sanmina-SCI.
Stephen Mathew, director of product management, brings more than 20 years of experience in product management, engineering and sales, previously working as Sr. Director of Products for UST Inc. and for Siemens AG where he specialized in intelligent building and transportation.
Infinitum Electric added 30 new employees across its two offices in Spokane, Washington and Round Rock, Texas with headcount doubling in research and development, and tripling in operations in 2021. The company is currently hiring additional team members for positions across product, operations, R&D and sales.
To learn more about career opportunities at Infinitum Electric, visit: https://www.infinitumelectric.com/about/careers/.
About Infinitum Electric
Infinitum Electric has raised the bar for a new generation of motor that is better for the planet and people. The company’s patented air core motors offer superior performance in half the weight and size, at a fraction of the carbon footprint of traditional motors, making them pound for pound the most efficient in the world. Infinitum Electric motors open up sustainable design possibilities for the machines we rely on to be smaller, lighter and quieter, improving our quality of life while also saving energy. Based in Austin, Texas, Infinitum Electric is led by a team of industry experts and pioneers. To learn more, visit www.infinitumelectric.com.
Erin Gilmore
Activate PR + Marketing
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512-466-4559
HOUSTON--(BUSINESS WIRE)--Sunnova Energy International Inc. ("Sunnova") (NYSE: NOVA), a leading U.S. residential energy service provider, today announced the release of its second annual Environmental, Social and Governance (ESG) report, which highlights the critical steps the company took in 2021 to advance its ESG management through rigorous and transparent reporting of sustainability performance.
The report contains several key highlights of Sunnova’s ESG progress, including:
“The last year has been pivotal for the evolution of sustainability with a growing awareness of and interest in ESG issues,” said Kelsey Hultberg, Executive Vice President, Chief of Staff and ESG Steering Committee Chair at Sunnova. “Our focus in 2021 was on strengthening the foundation we built in our first year of reporting while continuing to strategically integrate ESG into our business with a look towards the future.”
“This year we tackled three main goals: we conducted our inaugural materiality assessment to align on a multitude of ESG topics with our employees, vendors, investors, community partners and other stakeholders; we developed multi-year ESG goals to commit ourselves to continuous improvement in areas of strategic importance; and we conducted our first climate risk assessment in alignment with the Taskforce on Climate Related Financial Disclosure (TCFD) recommendations and integrated it with our annual Enterprise Risk Management (ERM) process.”
Inaugural ESG Goals:
In 2021, Sunnova formalized its ESG goals, which seek to drive progress on the ESG priority areas for the company, as determined by its first ESG materiality assessment.
Sunnova plans to:
For more information about our ESG strategy, please see our 2021 ESG Report and the ESG section of our website.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, statements regarding our ESG goals, and other statements regarding the future. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, supply chain uncertainties, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, our ability to attract and retain dealers and customers and manage our dealer and strategic partner relationships, the ability to successfully integrate the SunStreet acquisition, the ability of Sunnova to implement its plans, forecasts and other expectations with respect to SunStreet's business and realize the expected benefits of the acquisition. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the Securities and Exchange Commission, including Sunnova’s annual report on Form 10-K for the year ended December 31, 2021. The forward-looking statements in this release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading energy service provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®.
For more information, please visit sunnova.com.
Environmental, Social and Governance
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Investor & Analyst Contact
Rodney McMahan
Vice President, Investor Relations
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281.971.3323
Media Contact
Alina Eprimian
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