Landfill Gas project in Kentucky will produce 450,000 MMBtu of RNG annually.
CANONSBURG, Pa.--(BUSINESS WIRE)--Vision RNG, LLC today announced a Renewable Natural Gas (RNG) agreement with the Laurel Ridge Landfill in Corbin, Kentucky. Owned by Laurel Ridge Landfill, LLC, a subsidiary of Waste Connections, Inc, the project will use 1,800 cfm of landfill gas (LFG) and construction is scheduled to be completed in Q4 of 2024. The project will produce 450,000 MMBtu of RNG annually that will be injected into a nearby natural gas transmission pipeline. This RNG will be used by various customers across the U.S. for transportation fuel and other sustainability purposes.
Vision RNG’s CEO, Bill Johnson commented, “We are delighted to be partnered with Waste Connections on this project. As our portfolio of RNG projects continues to expand, we are making a real impact on reducing methane emissions, capturing that wasted greenhouse gas and putting it to good use as renewable natural gas.”
About Vision RNG: Vision RNG LLC is a U.S. based, full-service developer of landfill gas to sustainable renewable natural gas projects. The Company develops, engineers, constructs and operates these infrastructure projects with a best-in-class, in-house team of industry experts. For more information, please visit https://visionrng.com.
About Waste Connections: Waste Connections is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves more than eight million residential, commercial and industrial customers in mostly exclusive and secondary markets across 43 states in the U.S. and six provinces in Canada. Waste Connections also provides non- hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S., as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. For more information, visit Waste Connections at wasteconnections.com.
Vision RNG
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Cara Dickens, Rocket Pop
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New office in Jakarta to accelerate growth in critical region
ST. LOUIS--(BUSINESS WIRE)--Elessent Clean Technologies (Elessent), global leader in sulfuric acid technologies, announces the opening of a new office in Jakarta, Indonesia. The new office will be a core maintenance and reliability (M&R) solutions provider for sulfuric acid plants in the region, as well as provide a full scope of technical services to customers. Elessent’s Jakartan subsidiary name is PT MECS MandR Solution, and its official establishment date was December 7, 2022.
As the energy transitions persists, the need for metals like nickel and copper has grown significantly with the increasing demand for technologies to fight climate change. In recent years, Indonesia has secured its place as a top performer in mining these metals. As pressure mounts to provide access to these resources, more and more manufacturers are turning to Indonesia for supply.
“The Jakarta office is Elessent’s sixth location serving the Asia Pacific market. The opening of the office demonstrates our commitment to serving this critical region. We’re pleased to bring first-class M&R solutions to sulfuric acid production facilities during a time of significant expansion in metal extraction,” said Kanson Xue, Director of Asia Pacific, Elessent.
The global drive toward net zero carbon emissions has created an increasingly rapid demand for access to electric vehicles, wind energy technologies, batteries, fuel cells and other innovations to support this effort by consumers around the globe. The production of such technologies requires the use of energy metals, like nickel and copper, and the preferred method to extract battery grade nickel, for example, is high pressure acid leaching (HPAL) which requires sulfuric acid. As fossil fuels continue to be replaced by more sustainable measures, industry growth is anticipated for several years to come, and operators worldwide have selected MECS® technologies and proprietary equipment for their projects for decades.
“Elessent’s foundation was built, in large part, on the desire to change our world through sustainability and carbon neutrality efforts, and we couldn’t be more excited about the opportunities that our office in Indonesia will bring. We always strive to ensure our clients have the ability to meet their industry’s growth needs through the most environmentally conscious methods, and as a global leader in sulfuric acid technology licensing and expertise, our close proximity to clients will be a massive asset with the ongoing demand for battery metals.” said Eli Ben-Shoshan, CEO, Elessent.
The MECS® sulfuric acid technology has been in use for over 90 years in the phosphate fertilizer, non-ferrous metals (leaching & smelting), oil refining and general chemical industries. MECS® technologies feature breakthrough solutions, many of which have revolutionized the performance, quality and cost-effectiveness of customer operations. They include MECS® heat recovery systems (HRS™), MECS® SolvR® regenerative SO2 scrubbing and MECS® MAX3™ sulfuric acid production technology. Integrated into these MECS® technologies are proven specialty products such as catalysts, Brink® mist eliminators, DynaWave® scrubbers, ZeCor® corrosion resistant alloy products, and acid coolers all of which are specifically designed for the most demanding operating environments. Licensed and marketed by Elessent Clean Technologies, the MECS® technology is the world-leading sulfuric acid production technology with more than 400 licensed acid plants worldwide since the 1960’s. Elessent Technologies is committed to long-term customer satisfaction and support for the life of customer assets.
About Elessent Clean Technologies
Elessent Clean Technologies is a global leader in process technologies to drive sustainability and carbon neutrality in the metal, fertilizer, chemical and oil refining industries with an unwavering commitment to customer support. We provide extensive global expertise across our portfolio of offerings in key applications – MECS® sulfuric acid production, STRATCO® alkylation, BELCO® wet scrubbing and IsoTherming® hydroprocessing. Offering critical process equipment, products, technology and services, we enable an array of industrial markets, including phosphate fertilizer, non-ferrous metals, oil refining, petrochemicals and chemicals, to minimize their environmental impact and optimize productivity. We are dedicated to helping our customers produce high-quality products used in everyday life in the safest, most environmentally-sound way possible, with a vision to make the world a better place by creating clean alternatives to traditional industrial processes. Learn more at www.ElessentCT.com.
Elessent Clean Technologies
Mary Reiss
Tel: +1-314-464-4375
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MECS® Sulfuric Acid Technology
Sarah Douglas
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SCHENECTADY, N.Y.--(BUSINESS WIRE)--DSD Renewables (DSD) has raised $155 million in debt financing for the first commercial and industrial (C&I) solar asset-backed securitization (ABS) with a significant concentration of community solar assets. The transaction, which is DSD’s first issuance of asset-backed securities, was structured and underwritten by Credit Suisse Securities (USA) LLC.
Solar asset-backed securities represent a growing opportunity to package assets originated by solar developers into diverse portfolios and offer opportunities for investors to deploy capital into renewable energy at scale. DSD’s ABS portfolio consists of about 56% onsite solar and 44% community solar, including C&I and distributed generation projects across 11 states, with offtakers benefiting from decreased electricity costs and state solar incentive programs.
“This transaction is an important step in DSD’s mission to accelerate the deployment of renewable energy,” says Jamie Hutson, DSD’s Chief Investment Officer. “We have established a path to market for a substantial inclusion of community solar, which will enable access to clean, affordable energy for a larger pool of customers.”
Being DSD’s first ABS, its structured finance, community solar and legal teams partnered with outside counsel and third party consultants to educate the investor community on C&I solar, particularly community solar. As one of the first solar securitizations to include a significant portion of community solar, DSD worked closely with agencies and investors to better understand community solar revenue structures and to adequately assess risk through a data-driven approach. This process will streamline DSD’s next issuances, and serve as an emulative industry model for other issuers to bring community solar assets to the debt capital market.
“As a first-time issuer within a newer asset class, it was critical that we considered all relevant risk and strategized with agencies, consultants and our bankers to ensure an optimal outcome,” says Ian Manchester, DSD’s Vice President of Structured Finance. “With our first securitization under our belt, we look forward to future issuances which will continue to drive commercial solar adoption and widen access to community solar projects.”
Net proceeds from the transaction will be used to pay down existing debt on DSD’s assets and support its business growth on the project origination and acquisitions front. Credit Suisse acted as Sole Structuring Agent and Sole Bookrunner for this transaction. Sidley Austin LLP acted as counsel to DSD, and Mayer Brown acted as counsel for Credit Suisse.
To date, DSD has raised over $1.5 billion in funding to support its growth and accelerate solar project deployment. DSD intends to issue asset-backed securities every six to twelve months.
About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy while building a more sustainable future. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD accelerates the deployment of renewable energy resources and creates significant value for our commercial, industrial, and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own, and maintain. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Twitter, and Facebook.
The securities were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The securities were offered and sold only (i) within the United States to persons who are qualified institutional buyers as defined in Rule 144A under the Securities Act, and (ii) to certain non‑U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. This press release shall not constitute an offer to sell any securities in any jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements can be identified by the use of terminology or expressions such as "may," "expect," "intend," "estimate," "anticipate," "plan," "project," "believe" or "continue" or the negatives thereof or variations thereon, although not all forward-looking statements contain such identifying words. Such forward-looking statements are not guarantees of future performance and are inherently subject to a variety of risks and uncertainties that could cause actual results to differ from those projected or expressed in any such forward-looking statement. Such risks and uncertainties include, but are not limited to, the rapidly evolving and competitive nature of the solar industry, demand for solar energy solutions, the impact of declines in the retail price of electricity derived from the utility grid or from alternative energy sources, the impact of increases in interest rates or tightening of supply of capital on the ability of end-users to finance the costs of a solar energy system, the impact of increased competition from existing and new competitors, developments in alternative technologies or improvements in distributed solar energy generation, changes in government subsidies and other economic incentives for solar electricity, and the impact of the ongoing Covid-19 pandemic.
Because of these uncertainties, prospective investors should not rely on these forward-looking statements when making an investment decision. Additionally, statements regarding past trends or activities should not be interpreted as assurances that those trends or activities will continue in the future. Any forward-looking statement speaks only as of the date of this press release. DSD expressly disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement contained herein to reflect any change in DSD's expectations with regard thereto or any new information, change in events, conditions or circumstances on which any such forward-looking statement is based, except as required by law.
Meghan Gainer
Vice President, Marketing & Communications, DSD Renewables
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518-369-3692
Christian Rizzo
Gregory FCA for DSD Renewables
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LIMBURG, Germany--(BUSINESS WIRE)--#EVInfrastructure--ADS-TEC Energy (NASDAQ: ADSE), a leading manufacturer of battery-based, ultra-fast electric vehicle (EV) charging solutions, today announced it has signed a master agreement with Cologne-based charging project management specialist amperio GmbH for the expansion of fast-charging infrastructure in Germany. Slate Asset Management (“Slate“), a global alternative investment platform targeting real assets, will provide the financing for the agreement. amperio will initially be installing 101 ADS-TEC Energy ChargePost systems, starting in 2023.
To mark the start of the collaboration, the two companies are today installing and commissioning the first ADS-TEC Energy ChargePost charging system in Limburg an der Lahn. The charging station—installed in the public parking garage at the Limburg-Süd ICE station—will enable ultra-fast charging of e-vehicles for the "LahnStar” on-demand shuttle service, part of the city of Limburg public transportation system.
amperio is one of the first providers to implement and test the ChargePost system's functionality in everyday use including battery-buffered, ultra-fast EV charging along with energy storage as a decentralized energy platform, peak-load capping and optimization of self-consumption. As part of the project, amperio plans to install the ultra-fast charging stations across the country at more than 100 already contractually secured public locations, thus dramatically expanding the fast-charging network in Germany.
amperio employs experienced experts who have previously conducted site analyses, planned and implemented charging infrastructure projects, and operated charging stations both technically and commercially. The cooperation with ADS-TEC Energy is an important step toward a new strategic focus on DC and HPC charging stations. Oliver P. Kaul, managing director of amperio, said, " To meet the rapidly growing energy demand for renewable traction power, drivers of pure battery electric vehicles need more DC and HPC charging points. These must be able to be installed quickly despite limited grid capacity. Likewise, an integrated payment terminal should be available and allow drivers to have the best charging experience even when paying. We are therefore very pleased to have found a German manufacturer in ADS-TEC Energy with whom we can implement this vision. The manufacturer's proven technology, the production location in Germany and the innovative approach of the technology motivated us to cooperate with ADS-TEC. We see great potential in the collaboration for the expansion of the German fast charging network."
Christian Schmid, managing director and global head of infrastructure at Slate, said, "We are thrilled to support the rollout of this framework agreement between amperio and ADS-TEC Energy. The installation of these chargers across Germany demonstrates a continued effort by Slate and amperio to make sustainability infrastructure more accessible and ubiquitous throughout the country, including at many of our own properties." Majority shareholder of amperio GmbH, Slate Asset Management, owns charging stations and finances them for its own use as well as for potential third parties like amperio. It also sources management services from amperio. Slate's portfolio, which includes more than 225 grocery stores across Germany and an extensive network of tenants focused on environmental sustainability, will create a variety of opportunities to accelerate amperio's growth.
ChargePost combines bidirectional battery storage, fast charging station and advertising platform
ADS-TEC Energy’s recently introduced ChargePost system combines two DC fast charging points together with battery storage, power electronics and air conditioning in an extremely powerful, compact and low-noise system. It takes charging to a whole new level with an all -in-one design that takes up less than two square meters (21.5 square feet) of ground space. ChargePost features two charging points for ultra-fast charging of e-vehicles – delivering up to more than 100 kilometers (60 miles) in just a few minutes - with DC power of up to 300 kW for one vehicle and 150 kW for two charging points used simultaneously, 144 or 201 kWh battery capacity, and optional additions of one or two 75-inch advertising displays that cover the entire length of the outer surfaces.
With simple, quick assembly by forklift, ChargePost features plug-and-play installation at ground level, connecting directly to the existing, power-limited low-voltage grid. As an energy platform, ChargePost not only stores energy, but can also feed it back into the grid and thus be used for other applications like grid services. With more than 10 years of experience in lithium-ion technologies, ADS-TEC Energy develops and produces battery-storage solutions and fast-charging systems including energy management systems. And ADS-TEC Energy products are "Made in Germany": ChargePost is manufactured in Dresden, while research and development take place in Nürtingen.
ADS-TEC Energy CEO Thomas Speidel explained: "We are very pleased to be able to demonstrate the strengths of our newly developed ChargePost system together with amperio. The ultra-fast charging system, in combination with energy storage, is also a decentralized energy platform that can be used many times over. The integration of up to two 75-inch monitors as attractive advertising space offers additional revenue opportunities for charging station operators.”
Due to its special performance and efficiency with minimal size, ADS-TEC Energy 2022's charging technology was nominated for the German Future Prize by the President of the Federal Republic of Germany.
About amperio
amperio GmbH, Cologne is a leading specialist planning office for charging infrastructure and operator of charging stations. Since 2012, amperio has been supporting companies, cities and municipalities in developing individual charging concepts, installing charging stations and billing charging processes. In doing so, amperio relies on a holistic service that includes site analysis, profitability analysis, business model analysis, technical consulting, back-end service (monitoring and billing), the operation of charging points, and energy management and subsidy consulting. In addition, amperio offers two charging infrastructure concepts developed in-house with its Charge2Go and Mitarbeiter-Strom products. The company has already implemented over 2,000 charging points for customers such as Volvo, Groupe PSA, Tesla, Fastned, the city of Düren, Bad Ems and Ludwigshafen.
amperio GmbH is part of Slate Asset Management, a global alternative investment platform, which holds a majority stake in amperio GmbH.
More information at amperio.eu
About ADS-TEC Energy
ADS-TEC Energy plc, a public limited company incorporated in Ireland and publicly listed on NASDAQ (“ADS-TEC Energy”), serves as a holding company for ads-tec Energy GmbH, our operating company incorporated in Germany (“ADSE GM”) and ads-tec Energy Inc., a US subsidiary of ads-tec Energy GmbH (“ADSE US” and together with ADS-TEC Energy and ADSE GM, “ADSE”). Based on more than ten years of experience with lithium-ion technologies, ADS-TEC Energy develops and manufactures battery storage solutions and fast charging systems including their energy management systems. Its battery-based, fast charging technology enables electric vehicles to ultrafast charge even on low powered grids and features a very compact design. The high quality and functionality of the battery systems are due to a particularly high depth of development and in-house production. With its advanced system platforms, ADS-TEC Energy is a valuable partner for automotive, OEMs, utility companies and charge-operators.
More information on: www.adstec-energy.com
About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities.
Visit slateam.com to learn more.
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. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include statements regarding our expectations with respect to future performance and the anticipated timing of certain commercial activities, such as the Company’s ability to secure critical materials for production and anticipated timing for recognition of revenue from new orders. 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; our dependence on widespread acceptance and adoption of EVs and increased installation of charging stations; our current dependence on sales to a limited number of customers 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 and the U.S.; the effects of competition; changes to battery energy storage standards; 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 “Item 3. Key Information – 3.D. Risk Factors” in our annual report on Form 20-F filed with the Securities and Exchange Commission (the “SEC”) on April 28, 2022, which is available on our website at https://adstec-energy.com/corporate-governance/ 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.
Media:
For ADS-TEC Energy – Germany
Dennis Müller
SVP Product Marketing & Communication
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For ADS-TEC Energy – US
Stephannie Depa
Breakaway Communications
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For amperio
Marie-Sophie Westbrock
Head of Marketing
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For Slate Asset Management
Karolina Kmiecik
Director of Communications
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Software company brings powerful analytics and prediction capabilities to Tigo and adds new opportunities for energy data monetization.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., a leading provider of intelligent solar and energy storage solutions, today announced the acquisition of FSIGHT, an energy data analytics software company based in Hod HaSharon, Israel. With FSIGHT, Tigo expands its ability to leverage energy consumption and production data for solar energy producers, adding a powerful prediction platform that provides rich and actionable system performance data, from the grid down to the module level. The transaction was signed on Tuesday, November 29, 2022.
As a software-as-a-service (SaaS) company, FSIGHT gives utilities, IPPs (Independent Power Providers), solar assets owners, EPCs (Engineering, Procurement, and Construction firms), and investors high-fidelity visibility into the performance of their solar energy systems, the energy demand served by those systems, and accurate predictive data about the same. With the ability to deploy new, accretive service offerings, the FSIGHT platform provides Tigo a scalable data analytics infrastructure and prediction engine to accelerate the deployment and optimization of distributed energy resources (DERs). Backed by five patents and patents pending, as well as a low operations cost per endpoint business model, FSIGHT infrastructure enables accurate behind-the-meter energy insights that scale quickly for DER projects of all sizes. For smart-meter utilities, this means more accurate forecasting for load, generation, and pricing dynamics, as well as portfolio composition and the ability to automate customer clustering. FSIGHT, which was founded in 2015 by digital energy transformation pioneers Eveline Steinberger (Blue Minds) and Amos Lasker (Amrav Investments), currently serves prominent energy companies in the U.S., Israel, and Central and Eastern Europe.
“Our mission has been to facilitate the energy transition by using data to reinvent business models for a greener energy market of the future, and Tigo’s global footprint allows us to significantly accelerate these ends,” said Evgeny Finkel, CEO of FSIGHT. “Through the support of Tigo and its vast installed base, we will be able to provide even more accurate predictions about customers’ energy systems. I am delighted to join the Tigo team and bring the best of both companies to our customers.”
Mr. Finkel and the FSIGHT team will join the Tigo team at the Ra'anana, Israel, office. FSIGHT’s customer support organization will operate without interruption as the company integrates into the Tigo operation over the coming weeks and months. The two companies will structure the new operation to expand their combined offerings to make the deployment of accurate, scalable, and flexible predictive analytics even more convenient for its customers.
“The acquisition of FSIGHT strengthens our leadership position in MLPE by adding both a new layer of sophisticated energy data tools and the opportunity to expand our data services business in solar,” said Zvi Alon, chairman and CEO at Tigo Energy, Inc. “With FSIGHT, AI and machine learning technology forecasts electricity consumption and generation of individual endpoints or aggregated portfolios, which we believe benefits stakeholders all along the solar value chain. We look forward to further evolving our comprehensive digital platform to optimize the solar experience for all parties, from commissioning through operations and maintenance.”
For more information about how FSIGHT will augment advanced energy monitoring from Tigo, watch the webinar available here, or schedule an exclusive demonstration of the FSIGHT platform by contacting This email address is being protected from spambots. You need JavaScript enabled to view it..
About Tigo Energy
Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. Tigo also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit https://www.tigoenergy.com.
Additional Information and Where to Find It
This communication relates to the proposed business combination between Tigo Energy, Inc. (“Tigo”) and Roth CH Acquisition IV Co. (“Roth”) (the “Business Combination”). In connection with the Business Combination, Roth intends to file a registration statement, which will include a preliminary proxy statement/prospectus, with the SEC. The proxy statement/prospectus will be sent to shareholders of Roth. This communication is not a substitute for the proxy statement/prospectus. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TIGO, ROTH, THE BUSINESS COMBINATION AND RELATED MATTERS. The documents filed or that will be filed with the SEC relating to the Business Combination (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. These documents (when they are available) can also be obtained free of charge from Roth upon written request at Roth CH Acquisition IV Co.., 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660.
Participants in Solicitation
This communication is not a solicitation of a proxy from any investor or security holder. However, Roth, Tigo, and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the Business Combination under the rules of the SEC. Information about Roth’s directors and executive officers and their ownership of Roth’s securities is set forth in filings with the SEC, including Roth’s Annual Report on Form 10-K filed with the SEC on April 7, 2022. To the extent that holdings of Roth’s securities have changed since the amounts included in Roth’s Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Changes in Ownership on Form 4 filed with the SEC. Additional information regarding the participants will also be included in the proxy statement/prospectus, when it becomes available. When available, these documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent or authorization with respect to any securities in respect of the Business Combination and shall not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Tigo’s industry and market sizes, future opportunities for Roth and Tigo, and their respective estimated future results and the Business Combination, the expected transaction and ownership structure and the likelihood and ability of the parties to successfully consummate the Business Combination. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
In addition to factors previously disclosed or that will be disclosed in Roth’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement or could otherwise cause the transactions contemplated therein to fail to close; (2) the outcome of any legal proceedings that may be instituted against Roth, Tigo, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the Shareholders of Roth or Tigo; (4) the inability of Tigo to satisfy other conditions to closing; (5) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (6) the ability to meet stock exchange listing standards in connection with and following the consummation of the Business Combination; (7) the risk that the Business Combination disrupts current plans and operations of Tigo as a result of the announcement and consummation of the Business Combination; (8) the ability to recognize the anticipated benefits of the acquisition, which may be affected by, among other things, competition, the ability of Tigo to grow and manage growth profitably, grow its customer base, maintain relationships with customers and suppliers and retain its management and key employees; (9) the impact of the COVID-19 pandemic on the business of Tigo (including the effects of the ongoing global supply chain shortage); (10) Tigo’s limited operating history and history of net losses; (11) costs related to the Business Combination; (12) changes in applicable laws or regulations; (13) the possibility that Tigo may be adversely affected by other economic, business, regulatory, and/or competitive factors; (14) Tigo’s estimates of expenses and profitability; (15) the evolution of the markets in which Tigo competes; (16) the ability of Tigo to implement its strategic initiatives and continue to innovate its existing products; (17) the ability of Tigo to adhere to legal requirements with respect to the protection of personal data and privacy laws; (18) cybersecurity risks, data loss and other breaches of Tigo’s network security and the disclosure of personal information; and (19) the risk of regulatory lawsuits or proceedings relating to Tigo’s products or services.
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Roth and Tigo or the date of such information in the case of information from persons other than Roth and Tigo, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding Tigo’s industry and end markets are based on sources we believe to be reliable, however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.
Media Contact:
Technica Communications
Cait Caviness
408-806-9626 Ext. 9949
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DALLAS--(BUSINESS WIRE)--Granite Ridge Resources, Inc. (NYSE: GRNT) (“Granite Ridge” or the “Company”) today announced that the Board of Directors has approved a stock repurchase program authorizing management of the Company to repurchase up to $50 million of the Company’s common stock through December 31, 2023. The Company also announced that the Conflicts Committee of the Board of Directors has waived certain lock-up transfer restrictions contained in the Company’s Registration Rights and Lock-Up Agreement with certain of the Company’s stockholders as it relates to approximately 23.6 million shares of Granite Ridge common stock (the “Grey Rock Fund II Shares”) held by private equity funds managed by Grey Rock Energy Management (“Grey Rock”).
Under the stock repurchase program, Granite Ridge will repurchase shares of its common stock from time to time in open market transactions or in privately negotiated transactions as permitted under applicable rules and regulations. The Board of Directors of the Company may limit or terminate the stock repurchase program at any time without prior notice, but, with no further action of the Board of Directors of the Company, the stock repurchase program will terminate on December 31, 2023. The extent to which the Company repurchases its shares of common stock, and the timing of such repurchases, will depend upon market conditions and other considerations as may be considered in the Company’s sole discretion.
The Grey Rock Fund II Shares are currently held by certain funds managed by Grey Rock. Once the resale of such Grey Rock Fund II Shares is registered pursuant to the Company’s Form S-1 registration statement with the Securities and Exchange Commission, the waiver of the lock-up transfer restrictions for the Grey Rock Fund II Shares will allow Grey Rock to distribute the Grey Rock Fund II Shares from the funds to the underlying investors in the funds who may then resell such shares. The Grey Rock Fund II Shares represent approximately 18% of the currently issued and outstanding shares of Granite Ridge’s common stock. The chart below evidences the current ownership of Company common stock by the public and funds managed by Grey Rock as well as the remaining lock-up transfer restrictions for such Company common stock.
| Granite Ridge Shares Outstanding as of 12/14/2022 | |||||||||||||||
Shares |
|
% of Shares |
|||||||||||||
Holder |
Lock-Up | Outstanding |
|
Outstanding |
|||||||||||
|
|
|
|||||||||||||
| Publicly Held Shares (1) | None | 14,613,164 |
|
11% |
|||||||||||
| Grey Rock Fund II (2) | None | 23,601,149 |
|
18% |
|||||||||||
| Grey Rock Fund III (3) | Thru 4/22/2023 | 95,080,584 |
|
71% |
|||||||||||
133,294,897 |
|
100% |
|||||||||||||
| 1. 371,518 shares are subject to potential forfeiture. | |||||||||||||||
| 2. GREP Holdco II LLC, GREP Holdco II-B Holdings, LLC, Grey Rock Energy Partners GP II-A, L.P., and Grey Rock Energy Partners GP II-B, L.P. | |||||||||||||||
| 3. GREP Holdco III-A LLC and GREP Holdco III-B Holdings LLC. | |||||||||||||||
“Today’s announcement reflects Granite Ridge’s desire to increase trading volume and public float in the Company over time while reflecting our ongoing commitment to enhance value for our stockholders,” said Luke Brandenberg, Granite Ridge’s President and Chief Executive Officer. Mr. Brandenberg continued, “Over time, we expect Grey Rock to distribute shares held by the funds it manages to the individual investors in those funds in an orderly fashion to increase our public company float, which is an important long-term goal for Granite Ridge. Using a portion of our cash flow from operations, we can make opportunistic stock repurchases that we believe will enhance value for our stockholders as Grey Rock continues to distribute the shares that it manages for its funds.”
About Granite Ridge
Granite Ridge is a scaled, non-operated oil & gas exploration and production company. We invest in a diversified portfolio of production and top-tier acreage across the Permian and four other prolific U.S. basins in partnership with proven operators. We create value by generating sustainable full-cycle risk adjusted returns for investors, offering a rewarding experience for our team, and delivering reliable energy solutions to all – safely and responsibly. For more information, visit Granite Ridge’s website at www.graniteridge.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 (the “Securities Act”) and the Securities Exchange Act of 1934 (the “Exchange Act”). All statements other than statements of historical facts included in this release regarding Granite Ridge’s financial position, operating and financial performance, business strategy, and plans and objectives of management for future operations are forward-looking statements. When used in this release, forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “continue,” “anticipate,” “target,” “could,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may” or other words and similar expressions that convey the uncertainty of future events or outcomes. Items contemplating or making assumptions about actual or potential trends or operating results also constitute such forward-looking statements.
Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond Granite Ridge’s control) that could cause actual results to differ materially from those set forth in the forward-looking statements, including the following: changes in Granite Ridge’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans, changes in current or future commodity prices and interest rates, fluctuations in prices for our securities, supply chain disruptions, infrastructure constraints and related factors affecting our properties, expansion plans and opportunities, operational risks including, but not limited to, the pace of drilling and completions activity on our properties, changes in the markets in which Granite Ridge competes, geopolitical risk and changes in applicable laws, legislation, or regulations, including those relating to environmental matters, cyber-related risks, the fact that reserve estimates depend on many assumptions that may turn out to be inaccurate and that any material inaccuracies in reserve estimates or underlying assumptions will materially affect the quantities and present value of the Granite Ridge’s reserves, the outcome of any known and unknown litigation and regulatory proceedings, legal and contractual limitations on the payment of dividends, limited liquidity and trading of Granite Ridge’s securities, acts of war or terrorism and market conditions and global, regulatory, technical, and economic factors beyond Granite Ridge’s control, including the potential adverse effects of the COVID-19 pandemic, or another major disease, affecting capital markets, general economic conditions, global supply chains and Granite Ridge’s business and operations.
Granite Ridge has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond Granite Ridge’s control. Granite Ridge does not undertake any duty to update or revise any forward-looking statements, except as may be required by the federal securities laws.
Investor and Media Contact: This email address is being protected from spambots. You need JavaScript enabled to view it. – 214.396.2850
HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that its Board of Directors authorized a new stock repurchase program (the “program”) under which up to $85.0 million or 2.8 million shares of its outstanding common stock may be acquired in the open market over the next 24 months at the discretion of management. This is after the successful completion of the previous program, whereby, the Company completed the repurchase of 1.5 million shares, under the 2-year program which began in May of 2021.
The shares under the new program may be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending upon market conditions. There is no guarantee as to the exact number of shares that will be repurchased, and DXP may discontinue the program at any time management determines additional purchases are not warranted. As of September 30, 2022, DXP had approximately 19.7 million shares outstanding.
David R. Little, Chairman and CEO commented, "The last few years have demonstrated the resilience of DXP and our ability to continue to evolve. We have transformed our end markets and diversified our business. We will weather the cycles differently than we have in the past. With continued confidence in our business, DXP’s senior management and Board believe there is an attractive buying opportunity in DXP’s stock. The Board’s approval of this program reflects confidence in DXP’s future and puts us in a position to create additional shareholder value. We continue to believe that the most accretive and beneficial use of cash at times is the repurchase of our shares."
Kent Yee, CFO commented, "The continuation of our share repurchase program reflects the Board’s commitment to our disciplined capital allocation strategy and the confidence in our business. Our share repurchase programs demonstrate the confidence we have in our future, ability to produce free cash flow through different cycles and our ongoing commitment to create shareholder and stakeholder value. We have repurchased approximately 11 percent of our fully diluted shares outstanding at a cost of approximately $64 million since March 2021. As we continue to reach new sales highs and see strength in our backlog, while executing on our customer driven focus, we believe the future of DXP is substantial."
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission.
Kent Yee
Senior Vice President CFO
713-996-4700 – www.dxpe.com
SEATTLE--(BUSINESS WIRE)--#MMR--Seattle-based Ultra Safe Nuclear Corporation and Lappeenranta-Lahti University of Technology (LUT) in Lappeenranta, Finland today signed a Memorandum of Understanding (MOU) to further examine deployment of the Ultra Safe Nuclear Micro-Modular™ Reactor (MMR®) as a research and test reactor in city of Lappeenranta at or near the University’s campus. The reactor will be operated as a training, research and test facility and will connect to the district heating network of Lappeenrannan Energia, the municipally owned energy company providing carbon-free district heating to the university, city and surrounding area.
A leading energy research university, LUT research supports the world’s transition to carbon neutrality in all societal and industrial sectors. The MMR research and test reactor will test new technologies to decarbonize energy production, microgrid integration, and help train the future workforce through hands-on experience with a next-generation high-temperature gas-cooled microreactor.
“The work LUT is doing in transitioning to a carbon-neutral world is important and the MMR is the perfect research and training facility to advance their knowledge and experience, especially when it comes to decarbonizing district heating systems,” said Francesco Venneri, CEO and Founder of Ultra Safe Nuclear.
According to the World Nuclear Association, district heating is widely used in Finland but is largely fueled by fossil fuels such as peat and coal, which is to be phased out by 2029. At 15 MW to 30 MW of thermal energy, the MMR is small enough to be located near district heating loads. The unmatched safety of the MMR and its Fully Ceramic Micro-encapsulated (FCM®) fuel mean owners and regulators can site these MMR Energy Systems with confidence.
“The safety and design of the MMR makes partnering with Ultra Safe Nuclear the ideal choice for LUT and for Finland as we work toward decarbonized municipal and industrial heat supply and a carbon-neutral world,” said Juhani Hyvärinen, Professor of Modelling in Nuclear Engineering at LUT.
The project at LUT joins the growing list of global training, test, and research MMR projects at the University of Illinois Urbana-Champaign in the USA and at McMaster University in Canada.
About Ultra Safe Nuclear
Ultra Safe Nuclear Corporation, a U.S. corporation headquartered in Seattle, is a global leader and strong vertical integrator of nuclear technologies and services, on Earth and in Space. Major initiatives include the micro modular reactor MMR®, the fully ceramic micro-encapsulated FCM® nuclear fuel, and nuclear power and propulsion technologies for space exploration. The company is demonstrating MMR Energy Systems at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois Urbana-Champaign, with new deployment projects underway in the United States, Canada, and Europe.
Ultra Safe Nuclear is committed to bringing safe, commercially competitive, clean and reliable nuclear energy to global power and industrial markets. Ultra Safe Nuclear is working with NASA and the Defense Department on advanced radioisotope power, nuclear thermal propulsion systems and advanced materials using the same strict inherent and intrinsic safety principles to drive innovation in fuels, materials, and design.
Ultra Safe Nuclear is the only private company producing TRISO and FCM fuel. This is enabling the transformation of key power and industrial sectors. Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.
Brian Meeley
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703.282.0691
Professor Juhani Hyvärinen
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+358 50 5241512
HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today the publication of certain environmental, social and governance (“ESG”) metrics related to the Company’s 2021 ESG performance. The disclosures align with the Sustainability Accounting Standards Board (“SASB”) recommendations for the Oil and Gas – Exploration and Production industry and select Global Reporting Initiative (“GRI”) governance standards. Please visit the Company’s website at https://www.sbow.com/responsibility/overview/default.aspx to find SilverBow’s 2021 SASB and GRI disclosures, including a letter from the Chief Executive Officer.
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “Responsible stewardship of our environment, our employees and our communities is ingrained in SilverBow’s culture. We have consistently prioritized employee safety and environmentally friendly operations, and the publication of today’s ESG disclosures ensures that our actions are provided to external parties in a clear and standardized manner. Looking ahead, we will expand upon today’s ESG disclosures with the publication of our inaugural Sustainability Report in 2023.”
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 and the Company’s 2021 SASB and GRI disclosures cross-referenced herein contain “forward-looking statements” within the meaning of Private Securities Litigation Reform Act of 1995. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release and the cross-referenced report 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. The forward-looking statements, other than statements of historical fact, included in this release and the disclosures cross-referenced herein concern the Company’s goals and expectations regarding corporate responsibility, sustainability, employees, environmental matters, policy, philanthropy, and business risks and opportunities. These goals and expectations are subject to the risks and uncertainties described in detail in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission, including in its Annual Report on Form 10-K for the year ended December 31, 2021, and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. All forward-looking statements speak only as of the date of this release. You should not place undue reliance on these forward-looking statements.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
14th annual California Green Innovation Index finds transportation pollution fell for the third straight year, even as in-state power sector emissions spiked
SAN FRANCISCO--(BUSINESS WIRE)--California’s greenhouse gas emission fell a remarkable 8.7% in 2020 amidst pandemic-induced economic disruptions and travel restrictions. But while the significant drop in emissions has helped the state make progress toward its 2030 climate targets, it masks a rise in pollution from in-state power generation, as stubbornly-slow renewable energy growth threatens California’s transition to carbon neutrality. At the same time, a drop in emissions from the transportation sector for the third-consecutive year could signal a breakthrough in the state’s largest source of climate pollution, if pandemic-era shifts towards hybrid work remain and electric vehicle adoption continues to rise.
That’s the finding of the fourteenth annual California Green Innovation Index—released today by the nonpartisan nonprofit Next 10 and prepared by Beacon Economics. The report’s analysis of the latest available emissions data found that while transportation-sector, commercial-sector, and industrial-sector emissions dropped in 2020, emissions from in-state electricity and agriculture increased.
“Despite the significant 2020 emissions drop, a closer look at the data from this year’s Index suggests California still faces challenges,” said F. Noel Perry, businessman and founder of Next 10. “The increase in in-state power generation pollution is worrisome. Not only is this pollution hurting the health of those living close to these facilities, this is the sector that overarching decarbonization depends on. We’ll need to see a significant increase in clean energy generation—at least 8% per year—in the coming years, to power homes, vehicles and industry.”
The report also analyzed the economic and jobs returns on investment from four of California’s signature climate and clean energy programs, and found that a cumulative $2.76 billion investment in these programs generated $5.35 billion in economic output and created 8,521 jobs—while reducing greenhouse gas emissions. The findings should inform California’s budget priorities, as the state pursues strategies to fend off a potential looming recession.
“California’s return on climate investments has been striking,” said Patrick Adler, research manager at Beacon Economics. “The state has shown that it can create jobs and strong economic growth—while also helping to cut the pollution that is driving climate change and adversely impacting communities across California.”
TRANSPORTATION EMISSIONS DROPPED FOR THIRD CONSECUTIVE YEAR, SIGNALING POTENTIAL BREAKTHROUGH, ALBEIT TEMPORARY; PUBLIC TRANSIT USE CONTINUES TO DECLINE
The Index found that transportation sector emissions—California’s largest source of greenhouse gas emissions—plunged by a staggering 16.1% in 2020, amidst pandemic-induced travel restrictions and a shift to working from home. The remarkable decrease was driven by a 19.8% reduction in emissions from light-duty passenger cars, a 18.5% decrease from SUVs and light-duty trucks, a 12.2% emissions decrease from off-road vehicles, and a 7.4% emissions decrease from heavy-duty trucks
“Due to the pandemic, the emissions drop from California’s transportation sector in 2020 was remarkable. This is the third straight year that we’ve seen a decline in pollution from the state’s largest and most stubborn source of emissions. The encouraging trends in this year’s Index on EV adoption and charging build-out show that EVs are reaching new, lower-income consumers and folks in rural areas,” noted Perry. “But to make continual progress in the transportation sector, we need structural changes to how we move around our cities and towns, and we urgently need to address the looming public transit crisis.”
While electric vehicle sales of all classes fell 16.5% from 2019 to 2020 due to pandemic-related uncertainty and supply chain challenges, sales data from 2021 paint a more encouraging picture. Electric vehicle sales shot up 79% in 2021 compared to 2020, and battery electric vehicles reached 9.5% of new vehicle registration in 2021, up from the previous peak of 6.2% in 2020.
The increase in electric vehicle ownership in rural areas showed the most encouraging signs of growth, increasing by an impressive 57.1% in 2021 compared to 2019. Roughly half of the growth in electric vehicles across the state of California in 2021 took place in rural areas compared to 2019. Promising electric vehicle growth is likely to continue in coming years, as California tracks towards achieving a landmark regulation adopted this year that will phase out the sale of gasoline cars by 2035.
The Index’s encouraging data on electric vehicle sales contrasts sharply with its findings on public transit ridership, which plunged a stunning 52% in 2020. More concerningly, ridership fell an additional 3% in 2021—even after pandemic restrictions began to lift and some people started returning to the office. The findings suggest that the pandemic could push California deeper into its historical trend of individual car ownership, despite the climate impacts. After a steady decline since the peak in 2018, the vehicle ownership rate rose to 78.4 per 100 persons in 2021, up from 74.7 in 2020.
Key findings include:
SLUGGISH RENEWABLE ENERGY GROWTH PAINTS WORRISOME PICTURE FOR STATE’S TRANSITION TO CARBON NEUTRALITY
The Index found that renewable energy as a share of California’s total power mix rose just 0.5% to 33.6% in 2021—even as the state repeatedly faced electricity supply shortfalls during climate-fueled heat waves, underscoring the need for more renewable energy resources. Since 2017, California’s pace of renewable energy growth has been slower than the U.S. average, and this year’s Index finds that the state is now at risk of missing its Renewable Energy Portfolio (RPS) standard target of 50% of energy from renewable sources by 2026.
The impact of not having enough renewable electricity was visible in the state’s increase in in-state power sector pollution, which rose 6.3% in 2020, due to increased reliance on natural gas power plants.
“For the first time, the state is at risk of missing its renewable energy targets. It is imperative that the state re-double its efforts to increase new, clean electricity generation to keep up with growing demand in buildings and transportation,” said Perry.
One bright spot in an otherwise worrisome picture for California’s transition to clean electricity is the state’s rapidly-expanding battery storage capacity, which increased by 7.5 times in 2021 compared to 2020—a record high. Battery storage has provided urgently-needed grid resiliency benefits, especially in the evening hours, when California’s robust supply of solar energy begins to drop off.
Key findings include:
ELECTRICITY FOR HOME HEATING TAKES OFF, IN A TREND LIKELY TO ACCELERATE
The Index found that electricity or solar energy use for home heating surged 7.5% in 2021—the most substantial long-term growth among all other fuels. This increase is set to accelerate in coming years, as local and state commitments to phase out polluting natural gas in buildings take hold. In 2022, California adopted a first-in-the-nation commitment to phasing out the use of gas furnaces and water heaters by 2030.
Electricity or solar energy is also the fastest-increasing primary heating fuel among renter households, increasing by 25.3% between 2008 and 2019, and continuing to rise in 2021 (+39.3% in renter-occupied units; +38.8% in owner-occupied units). Renter-occupied units (40.9%) were about twice as likely to be powered by electricity or solar energy than owner-occupied units (21.4%) in 2021.
Key findings include:
WILDFIRE EMISSIONS HIGHER THAN EVER, IN MAJOR CLIMATE CHALLENGE
The Index found that emissions stemming from wildfires broke new records in 2020, totaling over 127 MMTCO2e—more than any other sector except for transportation, and a roughly 16% percent jump in comparison to 2019. At the moment, wildfire emissions are not included in the GHG emissions inventory, however, CARB has started a process to include wildfire emissions in its future scoping plan outlining the pathway to achieving carbon neutrality by 2045.
“Emissions from wildfires threaten to undo the work the state has done to reduce emissions across the economy. Recent state budgets have included funding to reduce the risk of wildfires, and the state is working earnestly to reduce the number and severity of fires,” said Perry. “We need to take both the source of emissions, and the root cause of climate change, of this crisis seriously.”
About Next 10
Next 10 is an independent, nonpartisan, nonprofit organization that educates, engages and empowers Californians to improve the state’s future. With a focus on the intersection of the economy, the environment, and quality of life, Next 10 employs research from leading experts on complex state issues and creates a portfolio of nonpartisan educational materials to foster a deeper understanding of the critical issues affecting our state.
About Beacon Economics
Founded in 2007, Beacon Economics, an LLC and certified Small Business Enterprise with the state of California, is an independent research and consulting firm dedicated to delivering accurate, insightful, and objective economic analysis. Leveraging unique proprietary models, vast databases, and sophisticated data processing, the company’s specialized practice areas include sustainable growth and development, real estate market analysis, economic forecasting, industry analysis, economic policy analysis, and economic impact studies.
Chloe Zilliac
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650.644.8259
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ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ARR.TO #Altius--Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Corporation”, or the “Company”) announced today that the underwriters of its recently closed bought deal public offering (the “Offering”) of common shares of the Company (the “Shares”) have partially exercised the over-allotment option (the “Over-Allotment Option”) granted to the syndicate of underwriters led by TD Securities Inc. and Cormark Securities Inc., including National Bank Financial Inc., Peters & Co. Limited, Raymond James Ltd., Scotiabank, CIBC Capital Markets and Laurentian Bank Securities Inc. for the issuance of an additional 368,800 Shares at a price of $9.00 per Share, for aggregate gross proceeds of C$3,319,200.
The Company intends to use the net proceeds from the partial exercise of the Over-Allotment Option for general corporate purposes.
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 32 renewable energy royalties representing 735 MW of renewable power on operating projects and an additional approximately 6 GW on projects in development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from Great Bay’s investments in Bluestar Energy Capital and Hodson Energy. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
Forward-Looking Information
This news release contains forward-looking information as defined under Canadian securities laws which reflect management’s current expectations. Some of the specific forward-looking statements contained herein include, but are not limited to, the intended use of proceeds. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Prospectus Supplement. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of ARR under the Company’s profile at www.sedar.com.
For further information, please contact:
Flora Wood
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Tel: 1.877.576.2209
Direct: +1.416.346.9020
Ben Lewis
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Tel: +1.877.576.2209
Grant Programs from PG&E and The PG&E Corporation Foundation Support Key Investments in Climate Action for Local Communities
OAKLAND, Calif.--(BUSINESS WIRE)--Building upon a long history of climate action and environmental stewardship, Pacific Gas and Electric Company (PG&E) and The PG&E Corporation Foundation (Foundation) have awarded $900,000 across two grant programs intended to support climate resilience efforts in PG&E’s hometowns, while also protecting and restoring land, water, and air in habitats and communities across California.
“When PG&E issued our Climate Strategy Report earlier this year, we recognized that our approach to climate action must be twofold – we have to become more resilient to the impacts being felt today, while also working to heal the planet and avoid the impacts of tomorrow. Through these two grant programs, we’re pleased to work collaboratively with organizations in our hometowns to address both of these challenges with a focus on equity,” said Carla Peterman, Executive Vice President, Corporate Affairs and Chief Sustainability Officer for PG&E Corporation and Chair of the Board of The PG&E Corporation Foundation.
Better Together Nature Positive Innovation Grants
As one of the largest landowners in California, PG&E has a long history of responsible stewardship of the natural environment. Through the Better Together Nature Positive Innovation grant program, the Foundation is reinforcing its focus on environmental stewardship and pursuing opportunities to invest in partnerships that will promote protecting and restoring land, water, and air in habitats and communities across our service area.
For 2022, the Better Together Nature Positive Innovation grant program has awarded five $100,000 grants to the following organizations:
“We appreciate The PG&E Corporation Foundation for recognizing our proposal to engage and work with property owners along the Cobb Area Watershed, which feeds directly into Clear Lake. This stewardship project targets watershed management practices in the Cobb Mountain community by recruiting local property owners to participate in “hands-on” workshops interweaving resource management training with direct actions to match site conditions and landowner concerns. Every workshop we hold involves tribal knowledge holders and teachers, who will combine their expertise with that of other topical specialists,” said Eliot Hurwitz, Executive Director of the Seigler Springs Community Redevelopment Association.
For more information about the Better Together Nature Positive Innovation grant program, click here.
Resilience Hubs Grants
Recognizing that communities across California face growing threats from extreme weather events such as coastal and inland flooding, heat waves, wildfires, and more powerful storms, the Resilience Hubs grant program seeks to fund and establish physical spaces, or a set of resources, that support community resilience in the face of these climate-driven events. Once developed, these hubs can also be accessed year-round to build and sustain community-adaptive capacity in a trusted location.
For 2022, the Resilience Hubs grant program has awarded $400,000 to the seven organizations listed below. These grants will be funded by PG&E shareholders as part of the company’s investments in statewide wildfire resiliency and response, in accordance with a mandate from the California Public Utilities Commission.
The program awarded $25,000 each to four Feasibility Projects to fund an assessment of resilience hub needs and/or conceptual ideas for a resilience hub:
Additionally, the program awarded $100,000 each to three Design and Build Projects toward the design and/or creation of a resilience hub. Through these projects, the organizations will either plan and design new physical spaces or mobile resources, or retrofit existing buildings or structures to support community resilience:
“The Food Bank of Contra Costa and Solano is thrilled to receive funding to strengthen our partners’ ability to serve their communities, especially in times of acute crisis. By storing emergency food in central locations, we will ensure the community has access to critical services—without delay,” said Joel Sjostrom, President and CEO of the Food Bank of Contra Costa and Solano.
For more information about the Resilience Hubs grant program, click here.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
About The PG&E Corporation Foundation
The PG&E Corporation Foundation is an independent 501(c)(3) nonprofit organization, separate from PG&E and sponsored by PG&E Corporation.
Marketing & Communications | 415.973.5930 | www.pge.com
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced that its Wiser home energy management app currently available in Europe received special honors at this year’s Consumer Electronic Show (CES) being named a 2023 Innovation Award Honoree in the Smart Home category. The award recognizes outstanding design and engineering in technology products, focusing on sophisticated monitoring and control solutions.
Homeowners worldwide are facing significant energy challenges, including rising utility rates, energy scarcity, unreliable energy distribution and a global climate crisis. This is further complicated by homes accounting for 20 percent of the world’s carbon emissions. To properly address these challenges, homeowners need innovative solutions to make homes more sustainable, while managing energy use, finding efficiencies and ensuring reliable and cost-effective power without compromising on convenience and comfort.
“Consumers recognize the importance of sustainability in the face of climate issues, and they are also feeling the impact of rising energy costs and the importance of reliable energy as they spend an increasing amount of time in their homes,” said YiFu Qi, Executive Vice President Home & Distribution at Schneider Electric. “Thankfully, digital tools are available now and can be easily implemented to help consumers address these home energy challenges. We are incredibly honored to receive this recognition from CES for the Wiser Home Energy App, which brings new levels of insight and control to homeowners, simplifying energy management to make their homes more sustainable and more efficient.”
Truly intelligent home energy management
The Wiser App from Schneider Electric makes it simple for homeowners to monitor and manage their energy use, predict spending and set budgets to reduce their bills, and prepare for a more sustainable future – all in just a few quick taps:
The CES Innovation Awards are chosen from product and accessory nominations that provide consumers with sophisticated monitoring and control over building functions and/or enable users to maintain a wired or wireless data network, including products and software that offer remote access. Award winners are chosen by a panel of judges who are highly respected experts in their fields, and evaluate based on the engineering, design, and innovation of the products nominated.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags: #Microgrid #LifeIsOn #AccessToEnergy #SchneiderElectric
Media:
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero,
Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) has earned a place on the prestigious Dow Jones Sustainability Index (DJSI) North America for the 13th consecutive year and for the first time has been included in the Dow Jones Sustainability World Index (DJSI World), which comprises global sustainability leaders identified by S&P Global through its Corporate Sustainability Assessment. Only the most sustainable companies are considered each year for DJSI membership. This year, Hess is the only North American oil and gas company listed on DJSI World and one of only three North American oil and gas companies included in DJSI North America.
In addition, Newsweek just published its fourth annual ranking of America's Most Responsible Companies and once again included Hess. Of the 500 companies on the 2023 list, Hess is the highest ranked oil and gas producer. The ranking is based on an analysis of 2,000 public companies with U.S. headquarters by a research firm using an independent survey and publicly available environmental, social and corporate governance (ESG) performance indicators. The complete list and methodology are available here.
“We are honored to be recognized for delivering industry leading ESG performance and disclosure,” said Alex Sagebien, Vice President, Environment, Health and Safety. “Hess will continue to be guided by our longstanding commitment to sustainability as we help to meet the world’s growing need for affordable, reliable and cleaner energy.”
Hess’ Sustainability Report describes the company’s sustainability strategy and performance on ESG programs and initiatives. The report is available at: www.hess.com/sustainability/sustainability-reports.
Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information about the company is available at www.hess.com.
Investor Contact:
Jay Wilson
(212) 536-8940
Media Contact:
Lorrie Hecker
(212) 536-8250
MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) highlights the release of its annual Corporate Responsibility and Sustainability Report in its latest investor newsletter, "Interim Report," which includes the following topics:
- New newsletter schedule in 2023
- Third-quarter earnings
- Approval of MGE's EV managed charging pilots
- MGE named Green Master for ninth time
- Tax information
- Lobbying efforts
The newsletter is available on MGE Energy's website at: https://www.mgeenergy.com/interimreport
Interim Report is published quarterly to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.4 billion, and its 2021 revenues were approximately $607 million.
Investor relations contact
Ken Frassetto
Director Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
FRESNO, Calif.--(BUSINESS WIRE)--#circulareconomy--ERI, the nation’s largest fully integrated IT and electronics asset disposition (ITAD) provider and cybersecurity-focused hardware destruction company, has launched its new internal system designed to harness proprietary A.I. and machine learning technology innovations to further enhance operational efficiency. The new system, called “SOAR,” is now fully operational.
SOAR utilizes ERI’s proprietary Optical Character Recognition (OCR) technology to highlight text on a picture, allowing the user to easily make selections during the receiving process. The second phase of the SOAR platform, announced this week, takes the process to the next level of efficiency. Driven by machine learning and artificial intelligence, the system provides automated selections of the appropriate text from the OCR scans of images, which eliminates the need for user decision-making.
SOAR moves the overall receiving process of assets such as desktops, laptops and other electronic devices to a near-automated experience where the user has minimal interaction with the data itself. The technology streamlines the intake process procedure, simply requiring the user to take a photo of the device. ERI’s proprietary cloud-based software Optech does all the work from there, printing a coded tag for the user to stick to the device.
“We are proud to be pioneering a new realm of efficiency for the electronics recycling industry with SOAR,” said ERI’s Chairman and CEO, John Shegerian. “We expect that this innovative system will once again increase efficiency gains by approximately 50% or more and further improve the accuracy of captured data. We are taking a process that was already best-in-class and taking it to a whole new level of excellence.”
The first iteration of SOAR was initially launched in April of this year. The proprietary concept designed by ERI’s in-house technology team immediately improved receiving times of ITAD equipment coming through ERI’s warehouse doors. Originally, a small number of workstations were set up to test and gain feedback on the SOAR platform. ERI now has more than 50 stations deployed across the country in ERI’s facilities. Efficiency improvements, nationwide, have reached approximately 250% while also increasing accuracy. ERI’s IT team continue to make enhancements to the system, including those announced this week.
ERI works with all of its partners to increase the volume of material captured within a closed loop and is the recipient of an overall “A” rating from the Ellen MacArthur Foundation’s Circulytics tool which measures progress towards a circular economy.
ERI is the nation’s leading fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company.
ERI is the largest fully integrated IT and electronics asset disposition provider and cybersecurity-focused hardware destruction company in the United States. ERI is certified at the highest level by all leading environmental and data security oversight organizations to de-manufacture, recycle, and refurbish every type of electronic device in an environmentally responsible manner. It is the first and only company in its industry to achieve SOC 2 certification for security and data protection. ERI has the capacity to process more than a billion pounds of electronic waste annually at its eight certified locations, serving every zip code in the United States. ERI’s mission is to protect people, the planet and privacy. For more information about e-waste recycling and ERI, call 1-800-ERI-DIRECT or visit https://eridirect.com.
Paul Williams, 310/569-0023, This email address is being protected from spambots. You need JavaScript enabled to view it.
Whole Home Electrification prioritizes equity in decarbonization and energy efficiency
CHICAGO--(BUSINESS WIRE)--The electrification of transportation, buildings and industries that use fossil fuels is crucial to building cleaner, healthier and more sustainable communities. To advance the electrification of buildings for all communities, ComEd today announced a first-of-its-kind program to convert low-income single family and multi-unit homes to all-electric, using highly efficient technologies.
The $40 million Whole Home Electrification Program will empower low-income homeowners and tenants to reduce their carbon footprint, energy costs and climate impact. Illinois’ landmark Climate and Equitable Jobs Act (CEJA) law paves the way for ComEd to offer home electrification technologies, including heat pumps, as part of a broader push to increase the adoption of technologies that can lower air pollution from carbon emissions. This program will build on ComEd’s portfolio of energy efficiency programs which have saved northern Illinois customers more than $7 billion on their electric bills since 2008.
“We are thrilled to launch the Whole Home Electrification program – a first-of-its-kind effort to expand home energy efficiency programs with a focus on delivering cost and energy savings to our low-income customers first,” said Gil C Quiniones, CEO of ComEd. “While ComEd has led for over a decade by delivering billions of dollars in savings through our award-winning energy efficiency program, the launch of our Whole Home Electrification program represents the next frontier in our work alongside state, regional and local partners to help our customers achieve a cleaner and more sustainable future where our communities most vulnerable to pollution are not left behind.”
ComEd kicked off work on the Whole Home Electrification program earlier this year in collaboration with local climate justice nonprofit Elevate. Through this collaboration, ComEd, Elevate and local contractors will deliver comprehensive appliance and HVAC upgrades, building weatherization, and health and safety modifications required to safely and efficiently reduce reliance on fossil fuel energy sources, like gas and propane, for homeowners and residents in 100 single and multi-unit homes in Chicago.
As one of several partners, Elevate and ComEd will use the program to better understand cost and energy benefit savings, and to inform a model for home decarbonization that can be replicated to serve more customers outside of Chicago as well, including those in areas with older housing stock, which tends to cost more to heat.
“Electrification is more than just an opportunity for carbon savings – it leads to healthier, safer, and more comfortable homes,” said Anne Evens, CEO of Elevate. “Making these benefits accessible to the communities that need it most is essential. We’re excited to continue working with ComEd to grow the reach of this program.”
Through the Whole Home Electrification program, low-income customers will receive a variety of free upgrades that will help lower their energy usage and overall energy costs. Following a technical assessment of the home by a participating ComEd Energy Efficiency Service Provider (EESP), customers will receive ENERGY STAR-qualified upgrades that may include: heat pumps, heat pump water heaters, induction or electric stoves, and electric or heat pump clothes dryers.
As part of the program, ComEd will fund 100 percent of qualifying electrification upgrades for single family homes and up to 70 percent for qualifying multi-unit buildings, with the remaining costs paid for by the building owners at no cost to the tenants. Customers may also receive free weatherization and health and safety improvements that may be required to efficiently and safely reduce reliance upon in-home fossil fuel use.
“The Chicago Bungalow Association (CBA) is proud to be partnering with ComEd and Elevate to deliver the benefits of home electrification to low-income communities across Chicago,” said Mary Ellen Guest, Executive Director of the Chicago Bungalow Association. “We know that vintage homeowners from the south and west side, often communities of color, face a higher energy burden, and are at a higher risk for poor air quality. Through ComEd’s investments in the Whole Home Electrification program, we’re seeking to reach more people with the benefit of higher efficiency home appliances and systems that can lower energy costs, enhance home comfort and safety for the family, and contribute to lower emissions for their surrounding community.”
To identify candidates for the program, ComEd and its partners, which include Elevate Energy, Resource Innovations, Franklin Energy, and BlocPower, are taking a hyper targeted approach to ensure the upgrades will result in overall energy bill savings for the customer and that the home or building can accommodate the electrification upgrades.
“Resource Innovations is excited to support ComEd’s new Whole Home Electrification program for residential customers who currently rely on fossil fuels for their heating needs,” said Scott Yee, Director of Resource Innovations. “By connecting ComEd customers with trained contractors who can help determine if a whole home electrification upgrade is right for the household, we are helping make a difference in our communities and their total environmental impact.”
A recent report by the Natural Resources Defense Council (NRDC) reveals that low-income customers participating in home electrification could save up to $1,445 per year on energy costs, though actual savings will vary by customer. Switching sooner could help maximize savings, thanks to the availability of incentives and rebates for heat pumps as well as other electrification and energy efficiency measures provided through the Inflation Reduction Act.
“As Illinois upgrades and electrifies our buildings, we must ensure people with limited incomes have access to those electrification improvements at little to no cost. This is essential to ensure equitable access to affordable energy,” said Valeria Rincon, Midwest Building Decarbonization Advocate at NRDC. “The use of efficient, clean, electric appliances offers a huge energy and cost-savings opportunity for Chicagoans, particularly those most energy burdened.”
Beyond the cost savings, customers who electrify their homes can benefit from improved indoor air quality and overall community health. Not only are electric appliances demonstrated to deliver heat and air conditioning to maintain comfortable in-home temperatures year-round, but they can help address indoor air quality issues while significantly lowering GHG output that impacts the surrounding community.
In addition to building electrification, ComEd has helped lead efforts to advance transportation electrification in the region, including collaborating with regional partners to plan infrastructure, conducting research to prepare the grid for the rise in Electric Vehicles (EVs), and offering customers and communities resources to assist with fleet electrification as well as personal EV purchases. For more on ComEd’s efforts to assist with EV planning, please visit the EV Toolkit.
About Building Electrification
Electrification refers to replacing technologies that use fossil fuels (for example, gasoline, natural gas, or propane) with technologies that use electricity powered by decarbonized energy sources, reducing carbon emissions. Building electrification entails converting fossil fuel technologies used in homes and businesses with highly efficient electric alternatives, such as heat pumps. Heat pumps can offer an efficient electric heating and cooling system that works year-round to cool and heat homes.
The Biden Administration recently invoked the Defense Production Act to boost manufacturing of heat pumps and higher efficiency insulation, which will play a role in helping to drive down carbon pollution from homes and commercial buildings, which currently account for 13 percent of U.S. climate pollution, according to the US EPA. Modern heat pump technologies are proven to perform in the coldest of climates, even when temperatures fall below zero degrees. They can significantly reduce energy consumption and carbon emissions, all while saving homeowners on their energy bills.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
ComEd
Media Relations
312-394-3500
MINNEAPOLIS--(BUSINESS WIRE)--The Board of Directors of Xcel Energy Inc. (NASDAQ: XEL) today declared a quarterly dividend on its common stock of 48.75 cents per share. The dividends are payable January 20, 2023, to shareholders of record on December 29, 2022.
Xcel Energy is a major U.S. electricity and natural gas company, with operations in 8 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.7 million electricity customers and 2.1 million natural gas customers through its regulated operating companies. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.
This information is not given in connection with any sale or offer for sale or offer to buy any securities.
Statements in this press release regarding Xcel Energy’s business which are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see “Risk Factors” in the Company's Annual Report on Form 10-K for the most recently ended fiscal year.
Xcel Energy, Minneapolis
Shareholder Services
Darin Norman (612) 337-2310
or
Paul Johnson, Vice President, Treasurer & Investor Relations (612) 215-4535
or
Xcel Energy Media Relations Representatives (612) 215-5300
AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions (referred to as “Atlas”) today announced that it has signed sand supply and logistics agreements with major oil companies, including a multi-year agreement with bpx energy, that includes the delivery of proppant via Atlas’s Delaware Basin conveyor-based logistics solution (the “Dune Express”). Commercial in-service of the Dune Express is currently expected to take place in 2024. In January 2023, Atlas plans to deploy built-for-purpose trucking assets in advance of this transformational piece of logistics infrastructure.
The Dune Express, which will originate at Atlas’s Kermit, TX facility, will serve the Delaware Basin, and represents the first long-haul proppant conveyor system in the world. The Dune Express is designed to be 42-miles in length and will feature more than 75,000 tons of dry storage within the system. The Dune Express is expected to take thousands of trucks off public roads, resulting in the avoidance of traffic accidents and associated fatalities in the region, while significantly reducing the emissions footprint of sand delivery in the Permian. In combination with Atlas’s high-efficiency trucking fleet, Atlas offers a proppant and logistics solution that is purpose-built to reliably deliver value to Permian Basin operators and improve the safety of the local communities of the region.
Bud Brigham, Executive Chairman and CEO of Atlas commented, “These agreements represent a validation of our differentiated logistics platform. We recognized from day one when we started Atlas that the intensity of sand delivery trucks on the road, and the associated societal and environmental consequences, was unacceptable. We therefore greatly appreciate the commitment of bpx energy to transform the Permian into a more reliable, prosperous, safe and environmentally friendly energy producing region, one that is so very vital to the future of our country and the world.”
Kyle Koontz, bpx energy COO of Development, added “bpx energy is committed to safely producing high-margin barrels while driving down emissions. This agreement with Atlas is another step in our journey and shows that we can use the latest technology to fundamentally improve safety in the Permian by reducing truck traffic while enhancing our development program through logistics and planning initiatives like The Dune Express.”
About Atlas Energy Solutions
Founded as Atlas Sand Company, LLC in 2017 by long-time E&P operators and led by Bud Brigham, we rebranded as Atlas Energy Solutions in 2022. Our experience as E&P operators, combined with our focus on using technology to deliver novel solutions to difficult challenges differentiates us as a provider of dynamic solutions fit for purpose to our customers’ toughest challenges and mission-critical needs.
Atlas is a leader in the proppant and proppant logistics industry and is currently solely focused on serving customers in the Permian Basin of West Texas & New Mexico, the most active oil and natural gas producing region in North America. Our Kermit, TX & Monahans, TX facilities are strategically located and specifically designed to maximize reliability of supply and product quality, and our planned deployment of trucking assets and the Dune Express is expected to drive significant logistics efficiencies.
Forward Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Atlas expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements pertaining to Atlas’s Dune Express system and built-for-purpose trucking assets and the expectations of plans, strategies, objectives and anticipated financial and operating results of Atlas, including the expected timing and results thereof. These statements are based on certain assumptions made by Atlas based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Atlas’s control and difficult to predict, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, Atlas’s ability to complete construction or begin operation of the Dune Express by the date or at the cost currently estimated, the worldwide economic outlook and the supply and demand of oil and natural gas, global or national health events, such as the COVID-19 pandemic, and economic and competitive conditions, including those resulting from the ongoing conflict between Russia and Ukraine and elevated inflation levels resulting from global supply and demand imbalances. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Atlas’s actual results and plans could differ materially from those expressed in any forward-looking statements. These statements are made as of today’s date and Atlas undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, except as required by applicable law.
(512) 220-1200
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IRVING, Texas--(BUSINESS WIRE)--ExxonMobil today announced successful startup of one of the largest advanced recycling facilities in North America. The facility at the company’s integrated manufacturing complex in Baytown, Texas, uses proprietary technology to break down hard-to-recycle plastics and transform them into raw materials for new products. It is capable of processing more than 80 million pounds of plastic waste per year, supporting a circular economy for post-use plastics and helping divert plastic waste currently sent to landfills.
“We’ve proven our proprietary advanced recycling technology at Baytown, and now we’re leveraging our scale and integration to increase production of certified circular plastics to meet growing demand,” said Karen McKee, president of ExxonMobil Product Solutions Company. “There is substantial demand for recycled plastics, and advanced recycling can play an important role by breaking down plastics that could not be recycled in traditional, mechanical methods. We are collaborating with government, industry and communities to scale up the collection and sorting of plastic waste that will improve recycling rates and help our customers around the world meet their sustainability goals.”
Since the start of pilot operations at Baytown last year, ExxonMobil has recycled nearly 15 million pounds of plastic waste. The proprietary ExxtendTM technology enables the breakdown of plastic waste that would previously be destined for landfills – from synthetic athletic fields to bubble wrap and motor oil bottles.
The company helped form Cyclyx International LLC, a joint venture created to collect and sort large volumes of plastic waste and is investing in a first-of-its-kind plastic waste processing facility in Houston to help supply ExxonMobil’s Baytown advanced recycling facility.
To accelerate advanced recycling, ExxonMobil is a founding member of the Houston Recycling Collaboration, which brings government and industry together to increase access to recycling programs and expand infrastructure for mechanical and advanced recycling technologies.
ExxonMobil plans to build advanced recycling facilities at many of its other manufacturing sites around the world, which would give it the capacity to process up to 1 billion pounds of plastic waste annually by year-end 2026. The company is assessing facilities in Baton Rouge, Louisiana; Beaumont, Texas; and Joliet, Illinois; as well as at sites in Belgium, the Netherlands, Singapore and Canada.
ExxonMobil is also collaborating with third parties to assess the potential for large-scale implementation of advanced recycling technologies and opportunities to support improvements to plastic waste collection and sorting in Malaysia and Indonesia.
ExxonMobil has commercial contracts to sell certified circular plastics to customers around the world for use in food-safe plastic packaging, including collaborations with Sealed Air and Ahold Delhaize USA, Berry Global, and Amcor.
Advanced recycling is a proven technology that can help accelerate a circular economy and address the challenge of plastic waste. With effective government policies in place to modernize the recycling system and improve waste collection, more plastic materials can be collected, sorted and recycled, especially plastics that aren’t easily recycled today.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world.
In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity.
With advancements in technology and the support of clear and consistent government policies, ExxonMobil aims to achieve net-zero Scope 1 and 2 greenhouse gas emissions from its operated assets by 2050. To learn more, visit exxonmobil.com, the Energy Factor, and ExxonMobil’s Advancing Climate Solutions.
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Cautionary Statement
Statements of future events, investments, conditions, strategic and operating plans and objectives, the development of technologies, and other statements of future ambitions in this release are forward-looking statements.
Actual future results, including business and project plans, operating performance, partner participation, timing, capacities, and costs could differ materially due to a number of factors. These include the ability to execute operational objectives on a timely and successful basis; timely completion of construction projects; unforeseen technical or operational difficulties; unplanned maintenance; global or regional changes in the supply and demand for post-use plastics; unexpected technological developments; the ability to scale different technologies on a cost-competitive basis; the outcome of future commercial negotiations; actions of competitors and commercial counterparties; government policies; and other market factors.
Any forward-looking statement speaks only as of the date of this press release and the companies named herein disclaim any obligation to update any forward-looking statement.
Exxon Mobil Corporation has numerous affiliates, many with names that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For convenience and simplicity, those terms and terms such as corporation, company, our, we, and its are sometimes used as abbreviated references to specific affiliates or affiliate groups. Abbreviated references describing global or regional operational organizations, and global or regional business lines are also sometimes used for convenience and simplicity. Nothing contained herein is intended to override the corporate separateness of affiliated companies.
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