EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--$CHRW #CHRobinson--C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (Nasdaq: CHRW), one of the world’s largest logistics platforms, announced today that it will issue its fourth quarter 2022 results after the market closes on Wednesday, February 1, 2023. The company will hold a conference call from 5:00 pm - 6:00 pm Eastern Time on the same day to discuss the quarterly results and answer live questions from the investment community.
Hosting the conference call will be Scott Anderson, Interim Chief Executive Officer; Arun Rajan, Chief Operating Officer; Mike Zechmeister, Chief Financial Officer; and Chuck Ives, Director of Investor Relations.
Presentation slides and a simultaneous audio webcast of the conference call may be accessed at http://investor.chrobinson.com.
To participate in the conference call by telephone, please call ten minutes early by dialing 877-269-7756. International callers should dial +1-201-689-7817. An audio replay will be available at http://investor.chrobinson.com.
About C.H. Robinson
C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $28 billion in freight under management and 20 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our 100,000 customers and 85,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).
CHRW-IR
Chuck Ives, Director of Investor Relations
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BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or the "Company"), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that it will collaborate with Alfa Laval, a global provider of heat transfer, separation, and fluid handling products, on a project to explore applications of Advent's methanol-powered high-temperature proton exchange membrane (HT-PEM) fuel cells in the marine industry.
Funded by the Danish Energy Technology Development and Demonstration Program (“EUDP”), the project is a joint effort between Advent, Alfa Laval and a group of Danish shipowners. The project will focus on testing Advent's methanol-powered HT-PEM fuel cells as a source of marine auxiliary power. During the course of the project, the fuel cell system will undergo a risk assessment by a leading international classification society.
At the same time, the project aims to integrate the next generation of Advent's fuel cells. These fuel cells will be based on Advent's next-generation membrane electrode assembly, which is currently being developed within the framework of L'Innovator, the Company's joint development program with the U.S. Department of Energy's Los Alamos National Laboratory, Brookhaven National Laboratory, and the National Renewable Energy Laboratory. Aiming to meet the ever-growing power requirements of the maritime industry, Advent's next-generation fuel cells are expected to demonstrate a significant increase in lifetime, efficiency, and electrical output.
Advent's technology enables its fuel cells to operate at high temperatures of between 160°C and 220°C and serve as a reliable source of on-demand power across various applications and industries, including shipping, power generation and heavy-duty mobility. The Company's HT-PEM technology can utilize low-cost and abundant hydrogen-carrier fuels, like methanol, e-methanol and biomethanol. Methanol in particular has attracted substantial interest as a future fuel for the marine industry, and Advent’s HT-PEM fuel cells operate perfectly on methanol, using an integrated reformer.
Dr. Vasilis Gregoriou, Advent Technologies’ Chairman and Chief Executive Officer, commented: "The Advent team is dedicated to accelerating the decarbonization of the shipping industry. Our Serene fuel cells run on methanol – a clean alternative to fossil fuels – which is safer to handle than hydrogen gas and can be easily deployed on-site. Over the past months, we have received significant interest from the marine industry for our methanol-powered fuel cells. This gives us optimism about the future and our contribution to the industry's goal of net zero by 2050. We look forward to the successful completion of this highly innovative EUDP-funded project and further progressing our collaboration with Alfa Laval."
Jeroen van Riel, Alfa Laval's Business Development Manager for Marine Energy Solutions, stated: "We are excited to see the result of this promising collaboration with Advent, an experienced partner with innovative fuel cell products deployed in the field today. We are convinced that HT-PEM technology has great maritime potential and look forward to further exploring Advent's differentiated technology as the marine industry moves towards decarbonization."
Morten Hougaard Sørensen, Advent Technologies’ Senior Vice President added: "We would like to thank Alfa Laval for their commitment to partnering with our extensive expertise and proprietary technology to drive a maritime fuel cell solution. The Advent team envisions methanol, biomethanol, and e-methanol as the fuels of the future in shipping. We are delighted that Alfa Laval endorses this view. We hope this project is the dawn of a long and productive collaboration that will enable a faster transition to a clean energy shipping sector."
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
About Alfa Laval
Alfa Laval is a world leader in heat transfer, centrifugal separation, and fluid handling. It is active in Energy, Marine, and Food & Water, offering its expertise, products, and service to a wide range of industries in some 100 countries. The company is committed to optimizing processes, creating responsible growth, and driving progress to support customers in achieving their business goals and sustainability targets.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula/Michael Trontzos
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NEWCASTLE & HOUSTON--(BUSINESS WIRE)--TechnipFMC (NYSE: FTI) has been awarded a significant(1) engineering, procurement, construction, and installation contract by Wintershall Dea Norge AS for its Dvalin North project.
The contract covers the design, engineering, manufacture, and installation of pipe for the Dvalin North field, which will be tied back to the Heidrun Platform via the existing Dvalin field on the Norwegian Continental Shelf (NCS).
Jonathan Landes, President, Subsea at TechnipFMC, commented: “We previously installed subsea umbilicals, risers and flowlines in the Dvalin field, and this new contract builds on the success of our installed base there. We have a deep understanding of our client’s needs and a strong, collaborative relationship with Wintershall Dea.”
Dvalin North was the second significant contract awarded to TechnipFMC by Wintershall Dea in 2022, following on from an iEPCI™ that will extend the life of the Maria field in the NCS.
(1) For TechnipFMC, a “significant” contract is between $75 million and $250 million. This award was included in inbound orders in the fourth quarter of 2022.
Important Information for Investors and Securityholders
Forward-Looking Statement
This release contains "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. The words “expect,” “believe,” “estimated,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. Such forward-looking statements involve significant risks, uncertainties and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. For information regarding known material factors that could cause actual results to differ from projected results, please see our risk factors set forth in our filings with the United States Securities and Exchange Commission, which include our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any of our forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise, except to the extent required by law.
About TechnipFMC
TechnipFMC is a leading technology provider to the traditional and new energy industries, delivering fully integrated projects, products, and services.
With our proprietary technologies and comprehensive solutions, we are transforming our clients’ project economics, helping them unlock new possibilities to develop energy resources while reducing carbon intensity and supporting their energy transition ambitions.
Organized in two business segments — Subsea and Surface Technologies — we will continue to advance the industry with our pioneering integrated ecosystems (such as iEPCI™, iFEED™ and iComplete™), technology leadership and digital innovation.
Each of our approximately 20,000 employees is driven by a commitment to our clients’ success, and a culture of strong execution, purposeful innovation, and challenging industry conventions.
TechnipFMC uses its website as a channel of distribution of material company information. To learn more about how we are driving change in the industry, go to www.TechnipFMC.com and follow us on Twitter @TechnipFMC.
Investor relations
Matt Seinsheimer
Senior Vice President, Investor Relations and Corporate Development
Tel: +1 281 260 3665
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James Davis
Senior Manager, Investor Relations
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Media relations
Nicola Cameron
Vice President, Corporate Communications
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Catie Tuley
Director, Public Relations
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Development underway on 48MW hyperscale campus in Europe’s largest data center market to support cloud demand; company opens second facility at existing campus in Cardiff
DENVER & LUXEMBOURG--(BUSINESS WIRE)--#datacenter--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced its entrance into London with the development of a 48MW £500 million campus. In addition, the company has opened a second 40MW data center on its existing Cardiff campus.
Situated on nearly five acres (two hectares) in the PowerGate neighborhood of North Acton, an established data center community in the northwest part of the city, Vantage’s London campus will total 430,000 square feet (40,000 square meters) across two 24MW multi-story data centers once fully developed. The first facility will open its doors to hyperscale customers and cloud providers in late 2024, which will mark Vantage’s 11th campus in EMEA.
“Vantage has experienced rapid growth over the past three years as we continue developing state-of-the-art data center campuses across EMEA,” said Antoine Boniface, president, EMEA at Vantage Data Centers. “With London being one of the largest data center markets in the world, this expansion further solidifies Vantage’s role at the forefront of the digital infrastructure revolution. With relatively little inventory available in London and requirements on the rise, we are ideally positioned to deliver for our customers.”
London is the largest of the FLAP (Frankfurt, London, Amsterdam and Paris) data center markets, buoyed by the U.K.’s leadership in public cloud infrastructure adoption. Findings from Structure Research indicate that hyperscale data center offerings currently account for 48% of the London market, which is projected to grow to 66% by 2027, making this a key time for Vantage to enter the arena.
“The continuing demand for data centers in London offers a prime opportunity for Vantage Data Centers to make its entrance into the highly-coveted market,” said Tim Kay, deputy director for technology, Department for International Trade in London. “Vantage’s presence in London will play a key role in enabling leading technology enterprises with additional IT capacity to support digital transformation initiatives and cloud adoption.”
In addition to the development of its London campus, Vantage has completed the first phase (12MW) of a second 40MW facility at its growing Cardiff campus, located in Wales, the second largest data center market in the U.K. The new facility boasts one of the lowest power usage effectiveness (PUE) ratios across all of Vantage’s facilities thanks in part to its extremely energy efficient indirect evaporative free cooling system, which negates the need for compressors in the cooling cycle.
Once fully developed, the 46-acre campus (19 hectares) will include three data centers totaling 148MW across 2 million square feet (186,000 square meters). Conveniently located in the U.K.’s tech corridor near the M4 and just 100 miles (160 kilometers) from London’s urban density, the campus offers numerous connectivity options with low latency between Wales and London of less than 1.5 milliseconds. The sustainable campus operates entirely on renewable energy sources.
“We are delighted to welcome customers to our newest data center in Cardiff,” said Justin Jenkins, Vantage’s chief operating officer, Europe and president, U.K. “The significant investment Vantage is making in Wales is transforming the area into one of Europe’s leading data center hubs and a top cloud region in the U.K. This is great news for the local economy as the added capacity will attract more global companies to the region, ensuring additional work for hundreds of local contractors on site and creating new permanent job opportunities.”
In December 2021, Vantage opened a corporate office in the Farringdon district of Central London to support the company’s scaling operations across EMEA.
About Vantage Data Centers
Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands.
For more information, visit http://www.vantage-dc.com.
Press
Mark Freeman
Vantage Data Centers
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Robin Bectel
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Marion Chevillotte
Vantage Data Centers
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Nigel Parker
Fulfil Communications for Vantage Data Centers
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SAN JOSE, Calif.--(BUSINESS WIRE)--Power Integrations (Nasdaq: POWI) will release its fourth-quarter financial results after market hours on Monday, February 6, 2023, and will host a conference call that day beginning at 1:30 p.m. Pacific time.
Members of the investment community can register for the call by visiting the following link: https://conferencingportals.com/event/iobnvsok. Live and archived audio webcasts of the conference call will be available on the company’s website at https://investors.power.com.
About Power Integrations
Power Integrations, Inc. is a leading innovator in semiconductor technologies for high-voltage power conversion. The company’s products are key building blocks in the clean-power ecosystem, enabling the generation of renewable energy as well as the efficient transmission and consumption of power in applications ranging from milliwatts to megawatts. For more information please visit www.power.com.
Power Integrations and the Power Integrations logo are trademarks or registered trademarks of Power Integrations, Inc. All other trademarks are property of their respective owners.
Joe Shiffler
(408) 414-8528
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SANTIAGO, Chile--(BUSINESS WIRE)--EnfraGen, LLC (“EnfraGen”), a developer, owner, and operator of specialized sustainable and renewable power and grid stability assets in Latin America owned by leading global private markets firm Partners Group, on behalf of its clients, and Glenfarne Energy Transition, LLC (“Glenfarne”), has entered into EPC contracts with Verano Energy (“Verano”), to construct eight Chilean solar photovoltaic (PV) projects.
EnfraGen has provided Verano with a notice to proceed beginning the construction process.
The projects, once completed and in operation, will total approximately 76 MWdc (59 MWac) of installed capacity. When combined with the newly acquired and existing operating solar projects owned by EnfraGen, the solar portfolio will total 246 MWdc (185 MWac). All projects will qualify for Chile’s stabilized price regime as PMG/PMGD plants and add to EnfraGen’s existing value-added renewable power business division, Fontus Renewables (“Fontus”).
Brendan Wolters, Head of Solar for Fontus said, “We are excited to partner with Verano Energy and move forward with these new eight projects. EnfraGen is focused on contributing to and advancing Chile’s leadership role in the energy transition through renewable power growth and grid stability. These projects exemplify EnfraGen’s mission.”
The eight projects are currently owned outside of EnfraGen’s existing senior credit group, which was established following a 2020 refinancing.
About EnfraGen, LLC
EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin America. EnfraGen’s grid stability assets supply flexible capacity and energy to local and regional grids in support of renewable power plant intermittent energy production. EnfraGen’s renewable plants are smaller scale, distributed solar photovoltaic and hydroelectric assets that take advantage of unique access points to electrical infrastructure or are located in optimized geographical locations. The business’ mission is to support the transition to zero-carbon emission electric grids.
EnfraGen is jointly controlled by Glenfarne Energy Transition, LLC, and global private markets investment manager Partners Group, on behalf of its clients, and has operational and in-construction assets across its subsidiaries totaling nearly 1.9 GW of installed capacity The company, including its affiliates and subsidiaries, is supported by a team of nearly 400 professionals. EnfraGen maintains offices and assets in Chile, Panama, Colombia, and the United States.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested USD 185 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 131 billion in assets under management as of 30 June 2022, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,600 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About Glenfarne Energy Transition, LLC
Glenfarne Energy Transition is a wholly owned subsidiary of Glenfarne Group, a privately held energy and infrastructure development and management firm based in New York City and Houston, Texas, with offices in Dallas, Texas; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Rio De Jainero, Brazil; Jakarta, Indonesia; Barcelona, Spain; Seoul, South Korea; and Ho Chi Minh City, Vietnam. Glenfarne Energy Transition aims to address the “here and now” global energy transition through three core businesses: Global LNG Solutions, Renewables, and Grid Stability. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America, Asia, and Europe. For more information, please visit www.GlenfarneEnergyTransition.com.
Kris Cole
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(310) 652-1411
MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. ("ProPetro" or the “Company") (NYSE: PUMP) today announced that it will issue its fourth quarter of 2022 earnings release on Tuesday, February 21, 2023 after the close of trading. ProPetro will host a conference call on Wednesday, February 22, 2023 at 8:00 AM Central Time to discuss its fourth quarter results.
To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro’s website, www.propetroservices.com.
A replay of the conference call will be available for one week following the call and may be accessed toll free by dialing 1-877-344-7529 for U.S. callers, 1-855-669-9658 for Canadian callers, as well as 1-412-317-0088 for international callers. The access code for the replay is 8212202.
About ProPetro
ProPetro Holding Corp. is a Midland, Texas-based oilfield services company providing completions services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. For more information visit www.propetroservices.com.
David Schorlemer
Chief Financial Officer
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432-277-0864
Matt Augustine
Senior Manager - Corporate Development & Investor Relations
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432-848-0871
AUSTIN, Texas--(BUSINESS WIRE)--Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion”), a leader in electrified powertrain solutions for Class 8 semi-trucks, has appointed Jeffrey A. (Jay) Craig as the new Chairman of the Board. Effective December 12, 2022, Craig succeeds Ed Olkkola, who recently passed away after a courageous battle with cancer.
A long-recognized leader in the commercial vehicle space, Craig joined Hyliion’s board of directors in February 2022 after serving as Chief Executive Officer at Meritor. During his time as a board member, Craig has been instrumental in driving the execution of Hypertruck ERX development milestones.
“I am honored to step into this role as Hyliion makes further advancements along its commercialization path and looks ahead at production later this year. Hyliion’s mission of transforming commercial trucking through innovative electrification solutions is both ambitious and necessary. I look forward to continuing to strategically support the company, its talented team, and its vision of a net-carbon-negative transportation industry in this new capacity,” said Jay Craig.
With Craig’s appointment, Hyliion has reduced its board size to nine members.
View Jay Craig’s bio.
About Hyliion
Hyliion Holdings Corp.’s (NYSE: HYLN) mission is to reduce the carbon intensity and greenhouse gas (GHG) emissions of Class 8 commercial trucks by being a leading provider of electrified powertrain solutions. Leveraging advanced software algorithms and data analytics capabilities, Hyliion offers fleets an easy, efficient system to decrease fuel and operating expenses while seamlessly integrating with their existing fleet operations. Headquartered in Austin, Texas, Hyliion designs, develops, and sells electrified powertrain solutions that are designed to be installed on most major Class 8 commercial trucks, with the goal of transforming the commercial transportation industry’s environmental impact at scale. For more information, visit www.hyliion.com.
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, Hyliion’s ability to disrupt the powertrain market, Hyliion’s focus in 2022 and beyond, the effects of Hyliion’s dynamic and proprietary solutions on its commercial truck customers, accelerated commercialization of the Hypertruck ERX™, the ability to meet 2022 and future product milestones, the impact of COVID-19 on long-term objectives, the ability to reduce carbon intensity and greenhouse gas emissions, the expected performance and integration of the KARNO generator and system, and the other risks and uncertainties set forth in “Risk Factors” section of Hyliion’s annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2022 for the year ended December 31, 2021. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could different materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
Hyliion Holdings Corp.
Press Contact
Ryann Malone
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Sharon Merrill Associates, Inc.
Nicholas Manganaro
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HOUSTON--(BUSINESS WIRE)--Cactus, Inc. (NYSE: WHD) (“Cactus”) announced today the pricing of an underwritten offering (the “Offering”) of 2,803,739 shares of its Class A common stock (“common stock”) for total gross proceeds of approximately $150 million. Cactus has granted the underwriters an option to purchase up to an additional 420,561 shares of common stock at the public offering price, less the underwriting discounts and commissions. The Offering is expected to close on January 13, 2023, subject to customary closing conditions.
Cactus intends to use the net proceeds from this offering to finance a portion of its previously announced acquisition of FlexSteel Technologies Holdings, Inc. and its affiliates.
J.P. Morgan Securities LLC, BofA Securities, Inc., Piper Sandler & Co., TPH&Co., the energy business of Perella Weinberg Partners, Barclays Capital Inc. and Citigroup are acting as joint book-running managers for the Offering. Johnson Rice & Company L.L.C., PEP Advisory LLC and Stifel, Nicolaus & Company Incorporated are acting as co-managers for the Offering.
The securities are being offered and will be sold pursuant to an automatic shelf registration statement (including a prospectus) that was previously filed with the Securities and Exchange Commission (the “SEC”) and became effective upon filing. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. The Offering is being made only by means of a prospectus and related prospectus supplement.
Copies of the preliminary prospectus supplement and accompanying base prospectus and, when available, copies of the final prospectus supplement and accompanying base prospectus, related to the Offering may be obtained, free of charge, at the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying base prospectus may be obtained from:
J.P. Morgan Securities LLC
Attention: Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204
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About Cactus, Inc.
Cactus designs, manufactures, sells and rents a range of highly engineered wellhead and pressure control equipment. Its products are sold and rented principally for onshore unconventional oil and gas wells and are utilized during the drilling, completion and production phases of its customers’ wells. In addition, it provides field services for all its products and rental items to assist with the installation, maintenance and handling of the wellhead and pressure control equipment. Cactus operates service centers throughout the United States and Australia, while also providing equipment and services in select international markets.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, including statements regarding the size, timing or results of the Offering, represent Cactus’ expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Cactus’ control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.
Forward-looking statements can be identified by the use of forward-looking terminology including “may,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “continue,” “potential,” “will,” “hope” or other similar words and include the Company’s expectation of future performance contained herein. These statements discuss future expectations, contain projections of results of operations or of financial condition, or state other “forward-looking” information. You are cautioned not to place undue reliance on any forward-looking statements, which can be affected by assumptions used or by risks or uncertainties, including unanticipated challenges relating to the proposed transaction and related financing. Consequently, no forward-looking statements can be guaranteed. When considering these forward-looking statements, you should keep in mind the risk factors and other factors noted in the prospectus and related preliminary prospectus supplement filed with the SEC in connection with the Offering, the Company’s Annual Report on Form 10-K, any Quarterly Reports on Form 10-Q and the other documents that the Company files with the Securities and Exchange Commission. The risk factors and other factors noted therein could cause actual results to differ materially from those contained in any forward-looking statement. Cactus disclaims any duty to update and does not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation.
Cactus, Inc.
John Fitzgerald, 713-904-4655
Director of Corporate Development and Investor Relations
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EWING, N.J.--(BUSINESS WIRE)--$OLED #OLED--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, announced that Steve Abramson, President and CEO, and Brian Millard, Vice President and CFO, will present at the 25th Annual Needham Growth Conference this afternoon. During today’s 1:30 PM ET fireside chat, Universal Display management will discuss the Company’s growth prospects, the status of the phosphorescent blue program, the recent announcement of the Company’s long-term agreements with Samsung Display, and reaffirm its 2022 revenue guidance range of $600 million, plus or minus $10 million.
“We believe that the long-term growth path of the OLED industry remains robust, though near-term demand may fluctuate due to uncertainties in the macroeconomy. As we look to 2024, we expect it to be a pivotal year for the OLED industry and for us,” said Abramson. “With respect to blue, our development of a commercial phosphorescent blue emissive system remains on schedule and we met preliminary phosphorescent blue target specifications in 2022. We continue to believe that this excellent progress should enable the introduction of our all-phosphorescent RGB stack into the commercial market in 2024.”
A live and archived audio webcast of the investor presentation will be available on the events page of the Company's Investor Relations website at ir.oled.com.
About Universal Display Corporation
Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994 and with subsidiaries and offices around the world, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,500 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of energy-efficient and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. To learn more about Universal Display Corporation, please visit https://oled.com/.
Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
All statements in this document that are not historical, such as those relating to the projected adoption, development and advancement of the Company’s technologies, and the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2021. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.
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Darice Liu
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FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--#innovateandthrive--Humanetics announced today that Roderick Verschut, who played several key roles in Humanetics between 2004-2012, has returned to take on the role of VP Global Safety Sales, reporting to Mark Westen, President Humanetics Safety. Roderick will also be responsible for Humanetics' Business Development in Asia, reporting to Chris O'Connor, CEO and President Humanetics, to support the growth and partner development of the Safety, Digital and Sensor business units.
Roderick joins Humanetics from Kistler’s Vehicle Testing business where he spent a decade leading sales, business development, and product management teams.
Chris O’Connor, President and CEO of Humanetics, said: "We are thrilled to welcome Roderick back to Humanetics. In fact, we take it as a huge compliment to the quality of solutions we have developed. Roderick has a deep understanding of our customers’ needs, and the solutions required to deliver value. His knowledge of technology and our global customers will help ensure the quality of our delivery and execution for customers.”
Incoming VP Global Safety Sales, Roderick Verschut commented: “I am excited to return to Humanetics. The team has a unique and enduring passion for their work and furthermore a relentless drive to make vehicles safer. Most importantly, we share a vision to deliver customers the best integrated portfolio of physical and digital crash test equipment supported by services in calibration, certification, and software development. Utilizing this vast and ever-growing portfolio, I look forward assisting our customers with value-added solutions to meet their day-to-day and strategic challenges.”
Mark Westen, President Humanetics Safety welcomed Roderick’s arrival: “I am looking forward to partnering with Roderick. He has a deep understanding of customers’ evolving needs, a passion for the integration of physical and simulation testing, and extensive experience building high-performance teams in Asia, as well as Europe and the US. We have a big ambition and Roderick will help us to deliver against our goals.”
Roderick will be based out of Humanetics facility in Heidelberg, Germany.
About Humanetics (Website: https://www.humaneticsgroup.com/)
Humanetics is an Industrial technology company, and a leading provider of safety systems, crash test dummies (ATDs), crash test equipment, simulation software, CAE models, precision sensors, fiber optics and cutting-edge laser material engineering solutions. The group has over 950 employees across 26 facilities strategically located around the world with the global corporate headquarters located in Farmington Hills, Michigan, USA.
Barney Loehnis, Humanetics, CMO,
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Launches E-Vision Initiative Integrating Industry-Leading EV Software, Data and Services with Robust Analytics and Consumer Intelligence Solutions to Empower EV Transformation for Manufacturers, Utilities and Consumers
TROY, Mich.--(BUSINESS WIRE)--J.D. Power, a global leader in data analytics and consumer intelligence, today announced the completion of its purchase of ZappyRide, an electric vehicle (EV) data company that builds white-label software and tools for automotive original equipment manufacturers (OEMs), electric utilities, and other greentech stakeholders. Uniquely positioned to deliver a comprehensive range of software and services that include strategic planning for electrification programs, consumer shopping and cost analysis tools, regional and federal incentive data and EV program administration resources, ZappyRide complements J.D. Power strengths in both automotive and utilities customer intelligence and analytics.
The ZappyRide acquisition is part of the J.D. Power E-Vision initiative—a new program focused on maximizing the company’s industry-leading EV data, analytics, insights and solutions. The J.D. Power E-Vision initiative will encompass a broad range of J.D. Power product lines such as ZappyRide, EV syndicated studies and other exciting products that will be announced this quarter. The purpose of the E-Vision initiative is to make it easier for the broad range of companies focused on the EV sector to leverage J.D. Power’s industry-leading portfolio of products in a seamless and integrated way.
“The far-reaching implications of the historic EV transformation are not isolated to the auto industry; they are creating ripple effects far and wide that will change the game for utilities, federal and local governments, consumers and more,” said Dave Habiger, president and CEO of J.D. Power. “ZappyRide is positioned at the center of that interconnected ecosystem, delivering the software and solutions that all EV stakeholders need to make better, faster, and more well-informed decisions. By adding these capabilities and key relationships to our robust offerings in automotive and utilities data, analytics and consumer intelligence, we are strengthening our leadership position in the EV intelligence space.”
Launched in 2018, ZappyRide has been a pioneer in the development of EV-specific software designed to empower OEMs, utilities, government agencies, fleet companies and rideshare companies with the data and services they need to navigate the fast-moving EV landscape. With a wide range of product offerings that include EV education and decision-making platforms for consumer and commercial stakeholders, commercial fleet planning tools, an incentive application assistant for EV charging equipment, and several APIs covering data on nationwide incentives, charging equipment, vehicles and their specs, electricity sources and their emissions, ZappyRide has quickly built a reputation as trusted authority on EV transformation. The company has amassed an A-list roster of clients that includes leading OEMs such as General Motors, and some of the country’s largest electric utilities, such as Pacific Gas and Electric Company (PG&E). ZappyRide is being integrated into the Autodata Solutions division of J.D. Power.
“The U.S. market saw approximately 20 new EV models launched in 2022 alone, and with roughly one-fourth of Americans now indicating that they are ‘very likely’ to consider an EV for their next purchase or lease, it has become clear that the world as we know it is changing quickly,” said Craig Jennings, president of J.D. Power Autodata Solutions. “J.D. Power has been on the front lines of that transformation for the last several years, and—with the acquisition of ZappyRide—we are further solidifying our position as a one-stop-shop for critical data, analytics and consumer intelligence on all aspects of the EV economy.”
“From the outset, our business has been focused on accelerating EV adoption by improving customer experience and providing the essential data and solutions a diverse group of stakeholders need to make better decisions – a mission that’s very well-aligned with the work J.D. Power has been pioneering for decades,” said Olivier Pinçon, CEO of ZappyRide. “I could not be happier about joining forces with J.D. Power to help drive the EV transformation.”
ZappyRide senior leadership and employees will continue with the firm and will be integrated into J.D. Power’s Autodata Solutions division. Pinçon will continue to lead the team as General Manager, ZappyRide EV Products, reporting to Jennings.
For more information about J.D. Power E-Vision, visit https://www.jdpower.com/business/e-vision.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info
Geno Effler, J.D. Power; West Coast; 714-621-6224; This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Global Marine Lubricants Market 2021-2031 by Product Type, Application, End Use, and Region: Trend Forecast and Growth Opportunity" report has been added to ResearchAndMarkets.com's offering.
Global marine lubricants market will reach $ 10,473.3 million by 2031, growing by 3.5% annually over 2021-2031, driven by the increasing demand for marine lubricants from the shipping industry and its increasing maintenance cost for fuel-saving and cost reduction, the increasing expenditure in marine defense vessels, an increase in demand for bio-based eco-friendly marine lubricants, the emerging emission abatement technologies, and the growth in maritime tourism and the infrastructural developments. In terms of demand volume (thousand tons), the global market is expected to grow at a 2021-2031 CAGR of 2.7%.
This 184-page report is based on a comprehensive research of the entire global marine lubricants market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global marine lubricants market in every aspect of the classification from perspectives of Product Type, Application, End Use, and Region.
Based on Product Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.
Based on Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.
By End Use, the global market is segmented into the following sub-markets with annual revenue ($ mn) and volume (thousand tons) for 2021-2031 included in each section.
Geographically, the following regions together with the listed national/local markets are fully investigated:
Selected Key Players:
Key Topics Covered:
1 Introduction
2 Market Overview and Dynamics
3 Segmentation of Global Market by Product Type
4 Segmentation of Global Market by Application
5 Segmentation of Global Market by End Use
6 Segmentation of Global Market by Region
7 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/vipn2r
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBLIN--(BUSINESS WIRE)--The "Marine Composites Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 By Composite Type (Metal Matrix Composites, Ceramic Matrix Composites, Polymer Matrix Composites), By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The global marine composites market is anticipated to witness robust growth in the forecast period of 2024-2028 due to the growing demand for marine composites from the power boats segment. The value of powerboats sold in the United States surpassed $7.5 billion in 2021, an increase of 24.3% from the previous year.
The demand for marine composites in corrosion-resistant parts for shipbuilding is driving market growth. The use of marine composites in the construction of lightweight boats is also on the rise due to their excellent resistance properties. In addition, new technologies such as hybrid composites are being used to create racing powerboats with improved capabilities and performance. Marine composites have a wide range of industrial applications, including valves and filters, shafting overwraps, gear cases, masts, stacks and foundations, propeller vanes, fans and blowers, and condenser shells.
During the forecast period, it is anticipated that the growing demand for fast and fuel-efficient powerboats will drive demand for marine composites. Racing boats, yachts, and catamarans are some of the main types of powerboats made with marine composites. Components such as hulls, masts, swim ladders, deck fixtures, and rudders are made from marine composites, with most rudder stock components being made from glass fiber composites. It is also expected that increasing manufacturers' research and development (R&D) investments to introduce new product variations will drive market growth.
Rise In Demand for Cruise Ships
Due to factors like rising adult boating participation, an increase in the population of wealthy investors, the rapid growth of the international travel and tourism industry, and quickening economic growth, there has been an increase in demand for cruise ships all over the world in recent years. The superstructures of cruise ships are made of composite materials. They are also utilized in ramps and movable automobile decks. The manufacturing of more cruise ships is anticipated to increase because of the growing number of tourists, which will expand the marine composites market.
Increasing Demand from Various End-User Industries
One of the key reasons propelling the growth of the marine composites market is the increase in demand for fast boats across the globe. The demand for high-speed, powerful, and luxurious boats and yachts as well as a growing preference for marine composites with superior qualities over alternatives are driving the market's expansion. According to a survey released by the National Marine Manufacturers Association (NMMA) in January 2020, there were roughly 280,000 new boats sold at retail in the year 2019; of those, 73,000 were personal watercraft. The extensive use of composite materials in the construction of recreational boats with high strength-to-weight ratios, low magnetic signatures, increased noise damping qualities, and fuel efficiency has a further impact on the market. Additionally, the market for marine composites benefits from an increase in investments, rising industrialization, marine transportation activities, and cross-border cargo movement
Report Scope:
In this report, Global Marine Composites Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Marine Composites Market, By Composite Type:
Marine Composites Market, By Application:
Marine Composites Market, By Region:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Marine Composites Market Outlook
6. Europe Marine Composites Market Outlook
7. North America Marine Composites Market Outlook
8. Asia-Pacific Marine Composites Market Outlook
9. Middle East Marine Composites Market Outlook
10. South America Marine Composites Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Global Marine Composites Market: SWOT Analysis
14. Porter's Five Forces Analysis
15. Competitive Landscape
16. Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/gw0eo7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Columbia University Professor and seasoned operations executive bring decades of industry, technical and advisory experience in battery sector
NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR” or “the Company”), a developer of clean, next-generation battery cell production capacity, has appointed Jason Forcier and Dr. Dan Steingart as independent members of the Company’s Board of Directors effective December 21, 2022, and January 9, 2023, respectively. The appointments are intended to fill vacancies created by the departures of Jeremy Bezdek and Jon Christian Thaulow from FREYR’s Board of Directors.
On January 9, 2023, FREYR’s Board appointed Dr. Dan Steingart as an independent director of the Company, effective January 9, 2023. Dr. Steingart is the Stanley-Thompson Professor of Chemical Metallurgy at Columbia University where he is also the co-director of the Columbia Electrochemical Energy Center. Over the last decade, his research in energy storage has been adopted by various industries and has led directly or indirectly to five electrochemical energy-related startup companies. Additionally, Dr. Steingart has served as Chief Scientist/Advisor to ElectraSteel since 2020, Co-Founder of Liminal Insights Inc. since 2015 and Industry Advisor to Sila Nanotechnologies Inc. since 2016.
“I want to extend a warm welcome to Dan as he joins our Board of Directors,” commented Torstein Dale Sjøtveit, FREYR’s Founder and Executive Chairperson. “Dan brings impressive technical and industry credentials to the FREYR Board as a distinguished electrochemistry expert, a highly respected professor and research scientist at one of the world’s foremost academic institutions, and a valued advisor to start-up companies in the energy sector. Our entire team is looking forward to his stewardship through the next phase of FREYR’s growth as a global industrial partner of choice in the clean battery space.”
“I am excited to be joining the FREYR Board of Directors during a crucial time in the battery industry,” remarked Dr. Dan Steingart. “Having observed the company’s remarkable progress to date, I believe that FREYR is uniquely positioned to scale a cost-effective battery technology as demand for clean energy storage and mobility accelerates. I have long admired the operating team and am proud to be aiding them on their journey.”
As previously announced, Jason Forcier joined FREYR’s Board of Directors on December 21, 2022. Mr. Forcier currently serves as Chief Executive Officer of SVP Worldwide. Mr. Forcier’s previous experience includes positions as Chief Operations Officer and other senior manufacturing, supply chain and quality roles at Vertiv Holdings Co from 2017 to 2022; and eight years at A123 Systems, a global manufacturer of lithium-ion batteries, where he was the Chief Executive Officer from 2013 until 2017 and member of the board of management.
“Jason’s experience leading and establishing manufacturing operations in the lithium-ion battery and other industries will be invaluable to FREYR as we commence production in Norway and the U.S.,” remarked Sjøtveit. “We are delighted to welcome Jason and his unique skill set to our Board of Directors, and we look forward to his contributions as we establish giga scale production of clean, next-generation batteries.”
Mr. Forcier’s appointment to the Board of Directors coincided with Jon Christian Thaulow notifying FREYR’s Board of Directors of his intention to tender his resignation as a director of the Company effective December 21, 2022.
As announced by the Company on December 23, 2022, Jeremy Bezdek joined FREYR as the Company’s Executive Vice President of Global Corporate Development and President of FREYR Battery U.S. Mr. Bezdek joined FREYR from his prior position of Managing Director, Strategic Platforms at Koch Industries. Prior to joining FREYR, Mr. Bezdek spent over 26 years with Koch Industries companies in a variety of executive and leadership roles. On January 8, 2023, he notified FREYR’s Board of Directors that he will be tendering his resignation as a director of the Company and as a member and chairperson of its Compensation Committee as he assumes his new responsibilities at FREYR.
In addition, to fill the vacancy on the Compensation Committee created by Mr. Bezdek’s resignation, the Board appointed Jason Forcier, an existing independent director of the Company, as a member of the committee effective January 9, 2023. The Board also appointed Mimi Berdal, a current director on the Board and a member of the Compensation Committee, as chairperson of the committee, effective January 9, 2023.
“On behalf of the FREYR Board of Directors - Peter Matrai, Olaug Svarva, Mimi Berdal, Daniel Barcelo, and Monica Tiúba, we thank Jon Christian and Jeremy for their enormous contributions to the Company during a pivotal stage in FREYR’s journey,” added Sjøtveit. “Their counsel and dedication have been instrumental to FREYR’s commercial and industrial development, and we are grateful for the privilege it has been to serve with them.”
About FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030. To learn more about FREYR, please visit www.freyrbattery.com
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding FREYR’s growth as a global industrial partner of choice in the clean battery space, FREYR’s position to industrialize a next-generation technology as demand for clean energy storage and mobility accelerates, and the establishment of giga scale production of clean, next-generation batteries are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in (i) FREYR’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the “SEC”) on September 1, 2022, as amended, and (ii) FREYR’s annual report on Form 10-K filed with the SEC on March 9, 2022, and available on the SEC’s website at www.sec.gov.
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Media contact:
Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 920 54 570
DC-coupled design offers higher efficiency enabling up to 10 days of additional energy per year*
HOUSTON & MILPITAS, Calif.--(BUSINESS WIRE)--SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, and Sunnova Energy International, Inc. ("Sunnova") (NYSE: NOVA), a leading U.S. Energy as a Service (EaaS) provider, today announced the expansion of their long-standing partnership with the addition of the SolarEdge Home Battery to the Sunnova EaaS portfolio. The expansion of the partnership will enable Sunnova’s network of dealers to offer the SolarEdge Home Battery, in order to better meet homeowners’ demand for increased energy efficiency and resiliency – crucial in the current climate of energy price inflation and grid instability.
The SolarEdge Home Battery’s highly efficient DC-coupled design requires just one power conversion when consuming PV stored energy, compared to three with AC-coupled batteries. This can add up to 10 days of saved energy for every year of use when compared to a typical 10kW PV system in self consumption mode. In addition, the SolarEdge Home Battery provides continuous power, enabling consumers to power more and larger devices, such as washing machines and HVACs, for longer periods of time.
William J. (John) Berger, founder and Chief Executive Officer of Sunnova commented: “Homeowners’ energy demands are increasing at a time when utility bills are skyrocketing and grid instability is becoming more frequent. The addition of the SolarEdge Home Battery to our Energy as a Service offering marks an important next step forward in our mission to deliver highly robust, industry-leading solutions that meet homeowner demand to live in a more energy-efficient and energy-independent way.”
“Sunnova’s extensive network of dealers now have access to our highly efficient, high-power DC battery that will enable homeowners to take even greater control of their energy usage and power more of their lives with clean, renewable solar energy,” commented Zvi Lando, CEO, SolarEdge Technologies. “We look forward to building on our successful relationship with Sunnova to help unlock the full potential of solar power for additional homeowners across the U.S.”
Each SolarEdge Home Battery provides 9.7kWh of backup capacity and up to nine batteries (three per inverter) can be stacked on a single backup system, for up to 87.3kWh of backup capacity and 30kW of continuous power. The battery is compliant with the UL9540A advanced safety standard. It is also designed to meet installer demand for a residential solution that is fast and cost effective to install. Accessible cable management and wireless communication speed up installation and decrease commissioning times.
* when compared to a typical 10kW PV system in self consumption mode
About Sunnova
Sunnova Energy International Inc. (NYSE: NOVA) is a leading U.S. Energy as a Service (EaaS) provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable, and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted®. For more information, please visit sunnova.com.
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. SolarEdge is online at www.solaredge.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Sunnova’s future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “going to,” “could,” “intend,” “target,” “project,” “contemplates,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Sunnova’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this press release include, but are not limited to, statements regarding the benefits and impact of Sunnova’s current and future product offerings to consumers. Sunnova’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks regarding our ability to forecast our business due to our limited operating history, the effects of the coronavirus pandemic on our business and operations, results of operations and financial position, our competition, changes in regulations applicable to our business, fluctuations in the solar and home-building markets, availability of capital, supply chain uncertainty, our ability to attract and retain dealers and customers and our dealer and strategic partner relationships. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in Sunnova’s filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2021, and our subsequent Quarterly Reports on Form 10-Q. The forward-looking statements in this press release are based on information available to Sunnova as of the date hereof, and Sunnova disclaims any obligation to update any forward-looking statements, except as required by law.
SolarEdge
SolarEdge Media Contacts:
Lily Salkin
Global Public and Media Relations Manager
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Dana Noyman
Head of Corporate Communications and Global PR
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SolarEdge Investor Contacts:
SolarEdge Technologies, Inc.
Ronen Faier, Chief Financial Officer
+1 510-498-3263
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Sapphire Investor Relations, LLC
Erica Mannion or Michael Funari
+1 617-542-6180
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Sunnova Energy International
Sunnova Media Contact:
Matt Dallas
917-363-1333
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Sunnova Investor & Analyst Contact
Rodney McMahan
281-971-3323
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COPENHAGEN, Denmark--(BUSINESS WIRE)--Offshore wind analyst Aegir Insights closes its first round of external funding with financing from Denmark’s independent state loan fund, Denmark’s Export & Investment Fund.
The growth loan from Denmark’s Export & Investment Fund is a recognition of both the robustness of Aegir Insights as a business, and the company’s role in furthering the energy transition through modern, data-driven and adaptable intelligence for the offshore wind sector.
As part of the investment process, Aegir Insights was evaluated across several ESG criteria and committed to continuous improvement and transparent reporting.
Scott Urquhart, CEO of Aegir Insights, says: “I am proud of what we have accomplished together with our investors and industry partners, and excited to accelerate our journey as a differentiated analytics business founded on deep industry experience, proprietary models and cutting-edge data. Our solutions for offshore wind investments are helping to deploy more capacity, faster and at lower cost. We believe focus on ESG and transparent reporting will translate into better business performance for both Aegir and our customers.”
Michael Zöllner, Chief Commercial Officer responsible for SMEs for Denmark’s Export and Investment Fund says: “Aegir Insights presents an advanced analytical tool - a software that can accelerate the transition toward green solutions by saving both time and resources for other projects within the construction of offshore wind turbines. To Denmark’s Export and Investment Fund, Aegir Insights presents a unique example of how to make the transition to greener solutions good business, with their scalable solution, which has the potential to broadly share knowledge within the industry, as well as catalyze positive, green change.”
The loan from Denmark’s Export & Investment Fund supplements the equity funding received in October, where renowned energy sector leader Jon Erik Reinhardsen along with two other private investors provided funding for Aegir Insights’ continued growth journey.
Jacob Winning Lehmann, Chairman at Aegir Insights, says: “We welcome Denmark’s Export & Investment Fund as a funding partner to Aegir Insights. The loan provided marks an end to our first external funding round, and we are really happy that we in less than three months have secured seed financing for our efforts leading towards a potential Series A funding round in 2023.”
The funding will assist Aegir Insights in accelerating tech- and software development plans as well as growing its organization. BearingPoint Capital advised Aegir Insights on the external financing round.
About Aegir Insights:
Smarter, faster, greener.
Aegir Insights provides premium commercial analytics and models to help inform investment strategy and capital allocation for leading players in the offshore wind and power-to-x (PtX) sectors. Aegir Insights’ differentiated strategy includes its technology-led approach in cooperation with clients and academia, and its senior team having deep industry experience from leading developers including Orsted, Vattenfall,Vestas and Siemens. Aegir Insights also serves as a trusted government advisor in development of offshore wind and PtX markets.
Learn more about Aegir Insights here: www.aegirinsights.com
About Denmark’s Export & Investment Fund:
Denmark’s Export & Investment Fund is the result of a merger of Denmark’s Export Credit Agency (EKF), the growth fund Vaekstfonden and the Danish Green Investment Fund.
Learn more about Denmark’s Export & Investment Fund here: www.eifo.dk
BearingPoint Capital:
BearingPoint is an independent management and technology consultancy with European roots and a global reach. The company operates in three business units: Consulting, Products, and Capital. Consulting covers the advisory business with a clear focus on selected business areas. Products provides IP-driven digital assets and managed services for business-critical processes. Capital delivers M&A and transaction services.
BearingPoint’s clients include many of the world’s leading companies and organizations. The firm has a global consulting network with more than 13,000 people and supports clients in over 70 countries, engaging with them to achieve measurable and sustainable success.
Learn more about BearingPoint Capital here: www.bearingpoint.com
Jon Erik Reinhardsen:
Jon Erik Reinhardsen is a Norwegian business executive currently holding positions including Chairman of the Board of Equinor ASA, board member of Telenor ASA, and other senior appointments.
Signe Soerensen
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HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that Senior Vice President and Chief Financial Officer Chris Weber will present at Fearnley Securities’ Offshore Drilling Seminar in New York City on Wednesday, January 11, 2023, beginning at 9:40 am ET.
Investor materials to be used during the conference will be available on Valaris’ website at www.valaris.com.
About Valaris Limited
Valaris Limited (NYSE: VAL) is the industry leader in offshore drilling services across all water depths and geographies. Operating a high-quality rig fleet of ultra-deepwater drillships, versatile semisubmersibles and modern shallow-water jackups, Valaris has experience operating in nearly every major offshore basin. Valaris maintains an unwavering commitment to safety, operational excellence, and customer satisfaction, with a focus on technology and innovation. Valaris Limited is a Bermuda exempted company (Bermuda No. 56245). To learn more, visit our website at www.valaris.com.
Investor & Media Contacts:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
Tim Richardson
Director - Investor Relations
+1-713-979-4619
+ Preliminary economic assessment of the Uatnan Mining Project demonstrates attractive economics for a targeted production of approximately 500,000 tonnes of graphite concentrate per annum over a 24-year life of mine, making it one of the World’s largest graphite projects in development.
+ The Uatnan Mining Project covers Mason Graphite’s Lac Guéret graphite deposit located in Québec, Canada.
+ Results indicate an after-tax IRR of 25.9% and an 8% discount rate NPV of C$ 2,173 million based on current pricing projections for flake concentrate.
+ The Uatnan Mining Project supports NMG’s Phase-3 expansion plans with updated operational parameters and production volumes in line with the Company’s commercial discussions with OEMs and lithium-ion battery cell makers.
+ NMG has extended its vision of responsible mining to the Uatnan Mining Project, including transition plans for all-electric operations, advanced environmental management and proactive First Nation and community engagement, to provide battery and EV manufacturers with responsibly extracted, environmentally transformed, and locally sourced graphite-based solutions.
+ Shareholders and analysts are invited to attend an Investor Briefing today at 10:30 a.m. ET hosted by NMG’s Management Team via webcast: https://us06web.zoom.us/webinar/register/WN_PQUZCrddQuWmw0UUMersow
MONTRÉAL--(BUSINESS WIRE)--$NMG #ESG--Nouveau Monde Graphite Inc. (“NMG“ or the “Company”) (NYSE: NMG, TSX.V: NOU) in collaboration with Mason Graphite Inc. (“Mason Graphite”) (TSX.V: LLG, OTCQX: MGPHF) releases the results of a preliminary economic assessment (“PEA”), according to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), for a new project covering Mason Graphite’s Lac Guéret graphite deposit, the Uatnan mining project (the “Uatnan Mining Project”) located in Québec, Canada.
The PEA, conducted by engineering firms BBA Inc. (“BBA”) and GoldMinds Geoservices Inc. (“GMG”), shows strong economics for NMG’s updated operational parameters and production volumes targeting the production of approximately 500,000 tonnes of graphite concentrate per annum over a 24-year life of mine (“LOM”). The proposed Uatnan Mining Project is currently one of the largest projected natural graphite productions in the world as battery and electric vehicle (“EV”) manufacturers seek local alternatives for sourcing their graphite-based solutions amidst growing demand and a projected structural deficit of production as of this year as supported by Benchmark Mineral Intelligence (December 2022).
Arne H Frandsen, Chair of NMG, declared: “NMG’s vision is to become North America’s most important producer of battery grade graphite. The Uatnan Mining Project aligns with our vision of progressive, integrated growth that caters to the market’s requirements for high-quality graphite materials, local supplies, ESG-driven development, and large volumes to meet EV production levels. Building on our Matawinie graphite operation’s successes, I am confident that our extended technical team’s expertise will enable us to develop what is projected to become one of the world’s largest graphite mines.”
Eric Desaulniers, Founder, President and CEO of NMG, added: “While the core of NMG’s technical team is extremely focused on developing and advancing our Phase-2 Matawinie Mine and Bécancour Battery Material projects, it has become increasingly important for our customers and strategic for our shareholders to accelerate the deployment of our Phase 3. It is our intention to capture as much market share as possible during this historical period of growth of lithium-ion battery manufacturing in North America and Europe. I am eager to work with the Innu First Nation of Pessamit and stakeholders from the Manicouagan region to revive the mining development of this world-class deposit. The PEA confirms the tremendous potential of the Uatnan Mining Project as a lever of decarbonization for cleantech markets and socioeconomic growth for local communities. We will leverage our existing Phase-1 facilities, the environmental stewardship measures being developed for our Phase-2 operations, our proprietary technologies, and our demonstrated ESG credentials to advance the Uatnan Mining Project toward development.”
PEA Results: Uncovering the Potential of the Uatnan Mining Project
NMG and its consultants revisited all components of Mason Graphite’s original mining project to align the development of the Lac Guéret graphite deposit with today’s market opportunity and potential customers’ requirements. The most recent technical report from Mason Graphite (SEDAR, Feasibility study update of the Lac Guéret Graphite Project issued on December 11, 2018) planned for a production of 51,900 tonnes of graphite concentrate per annum, with the concentrator and tailings storage facility located offsite in the town of Baie-Comeau, approximately 285 km to the south by road from the mining operations.
The PEA optimizes the Mineral Resources and aims to expand the original mining project tenfold by targeting the production of approximately 500,000 tonnes of graphite concentrate per annum, entirely destined for the anode material manufacturing market. The concentrator has been relocated to be near the deposit with electrical needs that could be sourced from the Manic-5 hydroelectric power station, located 70 km away.
In line with NMG’s responsible mining approach, plans include progressive site closure with backfilling of the pit with waste rock as much as possible. Additional characterization of waste rock and tailings will be included in the next engineering phase to select proper tailings and waste rock management technologies. Existing baseline studies will be updated based on the study area to identify any environmental issues, evaluate potential impacts and develop alternatives for the Uatnan Mining Project.
Commercial parameters were set using current projections of pricing prepared by a third-party expert for flake concentrate. Design of the Uatnan Mining Project has been tailored to the needs of the battery and EV market, orienting production volumes for beneficiation in order to produce active anode material. Natural flake graphite is expected to enter a structural deficit as of 2023 due to the continued growth of lithium-ion battery manufacturing, outpacing supply capacity from graphite producers (Benchmark Mineral Intelligence, December 2022). Hence, market perspectives and NMG’s active commercial discussions indicate favorable conditions for commercializing the Uatnan Mining Project production.
The following lists the economic highlights and operational parameters developed in the PEA. Graphite is expressed in graphitic carbon (“Cg”):
Table 1: Operational Parameters of the Uatnan Mining Project |
|
OPERATIONAL PARAMETERS |
|
LOM |
24 years |
Nominal annual processing rate |
3.4 M tonnes |
Stripping ratio (LOM) |
1.3:1 |
Average grade (LOM) |
17.5% Cg |
Average graphite recovery |
85% |
Average annual graphite concentrate production (LOM) |
500,000 tonnes |
Finished product purity |
94% Cg |
Cautionary Note: The PEA is preliminary in nature and includes Inferred Mineral Resources, considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves have not demonstrated economic viability. Additional trenching and/or drilling will be required to convert inferred mineral resources to indicated or measured mineral resources. There is no certainty that the resources development, production, and economic forecasts on which this PEA is based will be realized.
Table 2: Economic Highlights of the Uatnan Mining Project |
|
ECONOMIC HIGHLIGHTS |
Uatnan Mining Project |
Pre-tax NPV (8% discount rate) |
C$ 3,613 M |
After-tax NPV (8 % discount rate) |
C$ 2,173 M |
Pre-tax IRR |
32.6% |
After-tax IRR |
25.9% |
Pre-tax payback |
2.8 years |
After-tax payback |
3.2 years |
Initial CAPEX |
C$ 1,417 M |
Sustaining CAPEX |
C$ 147 M |
LOM OPEX |
C$ 3,236 M |
Annual OPEX |
C$ 135 M |
OPEX per tonne of graphite concentrate |
C$ 268/tonne |
Concentrate selling price |
US$ 1,100/tonne |
All costs are in Canadian dollars with the exception of the graphite sale price which is provided in US dollars.
Capital expenditure (“CAPEX”) and operational expenditure (“OPEX”) were established from test work results, supplier quotations and consultant in-house databases. Estimates currently being at the market's peak as influenced by inflationary trends, NMG, Mason Graphite and their consulting firms have refined design, engineering, and construction parameters to enable cost optimization and competitive pricing. Québec’s affordable clean hydropower underpins the Uatnan Mining Project’s economic structure and supports NMG’s undeterred carbon-neutrality commitment.
Considering the significant modifications to Mason Graphite’s original project, NMG initiated a name change with the collaboration of the Innu First Nation of Pessamit. The deposit is located on the Nitassinan, the Innu of Pessamit’s ancestral territory, in a sector referred to as Ka uatshinakanishkat meaning “where there is Tamarack”. Hence, the name Uatnan meaning Tamarack, a conifer prominent in the area, was chosen to identify the property and project. The graphite deposit identified on the property is still referred to as the Lac Guéret deposit.
Initial modelling indicates that the Uatnan Mining Project would create approximately 300 direct jobs.
The Property
The Uatnan property presently consists of 74 map-designated claims totalling 3,999.52 hectares (“ha”), wholly owned (100%) by Mason Graphite. The Uatnan Mining Project lies within Nitassinan, the Innu of Pessamit’s ancestral territory and the Rivière-aux-Outardes municipality located in the Côte-Nord administrative region, Québec, Canada, approximately 220 km as the crow flies, north northwest of the closest community, the town of Baie-Comeau. The Uatnan Mining Project is accessible by road 389 and then by following Class 1 forestry roads.
Exploration work on the Uatnan property targeted graphite mineralization and consists to date of airborne geophysics, prospecting, ground geophysics, trenching/channel sampling and core drilling. Bulk surface samples and core samples were also collected for metallurgical and geomechanical tests. Exploration work uncovered significant crystalline flake graphite mineralization, ultimately leading to the identification of Mineral Resources and Mineral Reserves (see Mason Graphite’s press release dated November 9, 2015). Due to significant changes to the project scope, as mentioned above, it was decided that the Uatnan Mining Project would revert to a Preliminary Economic Assessment level.
On May 15, 2022, NMG concluded an investment to explore the potential development of the Lac Guéret graphite property (now the Uatnan Property). This agreement aligns with NMG’s growth strategy with a view to establishing a large, scalable, and fully vertically integrated natural graphite production, from ore to battery materials, at the western markets’ doorstep.
Mineral Resources
Current Mineral Resources (Table 3) have been estimated for the Uatnan property based on 25,956 assay intervals collected from 43,343.1 m of core drilling and 4 surface trenches providing 207 channel samples totalling 721.7 m. Proper quality control measures, including the insertion of duplicate, blank and standard samples, were used throughout the exploration programs and returned within acceptable limits. Although parameters to determine reasonable prospects for eventual economic extraction (RPEE) were updated (Table 4), there are no significant changes between the current Mineral Resources and the Mineral Resources last published on November 9, 2015.
Table 3: Current Pit-Constrained Mineral Resource Estimate |
|||
IN-PIT CONSTRAINED MINERAL
|
Tonnes (Mt) |
Grade (% Cg) |
Cg (Mt) |
Measured 5.75% < Cg < 25% |
15.65 |
15.2 |
2.38 |
Measured Cg > 25% |
3.35 |
30.6 |
1.02 |
Total Measured |
19.02 |
17.9 |
3.40 |
Indicated 5.75% < Cg < 25% |
40.29 |
14.6 |
5.89 |
Indicated Cg > 25% |
6.33 |
31.6 |
2.00 |
Total Indicated |
46.62 |
16.9 |
7.89 |
Indicated + Measured 5.75% < Cg < 25% |
55.94 |
14.8 |
8.27 |
Indicated + Measured Cg > 25% |
9.70 |
31.2 |
3.03 |
Total Measured + Indicated |
65.64 |
17.2 |
11.30 |
Inferred 5.75% < Cg < 25% |
15.35 |
14.9 |
2.28 |
Inferred Cg > 25% |
2.47 |
31.8 |
0.79 |
Total Inferred |
17.82 |
17.2 |
3.07 |
Notes :
Table 4: Parameters used to develop the pit shell to constrain the Mineral Resources |
|
PARAMETERS |
Value |
Mining cost |
C$ 4.00/t mined |
Processing cost |
C$ 36.00/t milled |
Tailings management cost |
C$ 2.00/t milled |
G&A cost |
C$ 5.00/t milled |
Mill recovery |
85% |
Concentrate grade |
94% |
Concentrate price |
C$ 1,500 /t |
Production rate |
3.4 Mtpa |
Overall pit slope |
50% |
Mining
The mining method selected for the Uatnan Mining Project is a conventional open pit, truck and shovel, drill, and blast operation. Topsoil and overburden would be stripped and stockpiled for future reclamation use. The mineralization and waste rock would be mined with 9-m high benches, drilled, blasted, and loaded into 60-tonne rigid-frame haul trucks with backhoe excavators.
To minimize the environmental footprint of the Uatnan Mining Project, waste rock would be hauled to the tailings storage facility where it would be disposed of with the tailings. As of year 5 of operations, waste rock would be backfilled into the mined-out open pit when possible. The following table presents the subset of Mineral Resources within the pit design for the PEA.
Table 5: Subset of Mineral Resources within the Pit Design for the PEA |
|||
DESCRIPTION |
Tonnes
|
Cg Grade
|
In-Situ Graphite
|
Measured resources |
18.7 |
17.9 |
3.3 |
Indicated resources |
43.5 |
17.1 |
7.4 |
Total M&I resources |
62.2 |
17.3 |
10.8 |
Inferred resources |
14.2 |
18.0 |
2.6 |
Overburden & waste rock |
102.6 |
|
|
The mine would be operated by an owner fleet, seven days per week, 24 hours per day and be comprised of a four‑crew system working on a two-week in, two-week out rotation. NMG intends to deploy a zero-emission operating strategy with a battery-powered fleet of haul trucks and electric equipment as the technology becomes available. In the meantime, the PEA used a base case with a diesel-operated fleet.
Processing & Recovery
The process flow sheet was developed using the same metallurgical basis used for Mason Graphite’s updated Feasibility Study issued on December 11, 2018. The main difference between the two flowsheets, apart from the increased plant capacity, is the intended end-use of the material. Given that 100% of the graphite concentrate produced from the Uatnan Mining Project is destined for the battery market, preserving flake sizes is no longer considered in the processing route. Given this consideration, the flowsheet was simplified by reducing the number of both polishing and cleaner flotation stages from four to two. This change minimizes the number of grinding mills and flotation cells required, reducing both the capital and operating costs for the Uatnan Mining Project.
The flowsheet consists of a mineral sizer to reduce the size of the run of mine (“ROM”) mineral before it is fed to a SAG mill for primary grinding. The ground mineral then undergoes rougher flotation, after which the reground and scavenged concentrate is combined with the rougher concentrate for further processing. The concentrate then undergoes two additional stages of regrinding, first in a ball mill ahead of the first cleaning step, then a second regrind in a tower mill ahead of secondary cleaning. The resulting concentrate undergoes a final deliming stage to remove low-grade minus 20-micron particles to maximize the final concentrate grade. The concentrator tailings are filtered and delivered to the tailings storage facility. The concentrate is filtered and dried before being trucked 285 km to Baie-Comeau for transport to market.
Economic Evaluation
The CAPEX, summarized below, covers the development of the mine, processing facilities, and infrastructure required for the Uatnan Mining Project. It is based on the application of standard costing methods of achieving a PEA which provides the accuracy of -30% to +50%. The operating cost covers mining, processing, concentrate haulage, tailings and water management, general and administration fees, as well as infrastructure and services.
Table 6: Summary of Uatnan Mining Project CAPEX Costs |
|
SECTOR |
LOM CAPEX ($M) |
Mining |
61 |
Site infrastructure |
55 |
Offsite infrastructure |
184 |
Water treatment and tailings |
118 |
Ore crushing and process plant |
548 |
Indirect |
319 |
Contingency |
279 |
TOTAL CAPEX |
1,564 |
Initial CAPEX |
1,417 |
Sustaining CAPEX |
147 |
Table 7: Summary of Main Uatnan Mining Project OPEX Costs |
||
SECTOR |
LOM OPEX Cost ($M) |
C$/t Conc. |
Mining and tailings |
917 |
76 |
Processing |
1,620 |
134 |
Water management |
134 |
11 |
G&A |
565 |
47 |
TOTAL |
3,236 |
268 |
Next Steps and Quality Assurance
The PEA shows that the Uatnan Mining Project is technically feasible as well as economically viable. It further strengthens NMG’s active commercial discussions and the Company’s plans for growth through a Phase-3 expansion.
On the basis of these positive results, NMG intends to launch an updated feasibility study in compliance with the option and joint venture agreement signed with Mason Graphite. The Uatnan Mining Project will have to go through the process of the Government of Québec’s Environment Quality Act with the objective of obtaining a ministerial decree.
NMG is committed to extending its approach of open and proactive engagement with Indigenous Peoples and local stakeholders to the Uatnan Mining Project. The Company plans to maintain a transparent dialogue with the Innu First Nation of Pessamit as it advances the project development to ensure the respect of their rights, the protection of the environment, their culture, way of life and spirituality, as well as the inclusion of their perspective, and traditional knowledge. NMG also pledges to expand its relationships with stakeholders from all horizons to foster mechanisms for collaboration and shape a project generating shared value.
Shareholders and analysts are invited to attend a webcast Investor Briefing this morning, Tuesday, January 10, 2023, at 10:30 a.m. ET. Hosted by President and CEO Eric Desaulniers with the participation of NMG’s Management Team, the briefing will entail a technical presentation followed by a question-and-answer session. Registration should be completed prior to the start of the briefing at: https://us06web.zoom.us/webinar/register/WN_PQUZCrddQuWmw0UUMersow.
There is no certainty that the economic forecasts on which this PEA is based will be realized. The PEA is preliminary in nature and includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves have not demonstrated economic viability. Additional trenching and/or drilling will be required to convert Inferred Mineral Resources to Indicated or Measured Mineral Resources. There is no certainty that the resources development, production, and economic forecasts on which this PEA is based will be realized. There are a number of risks and uncertainties identifiable to any new project and usually cover the mineralization, mineral processing, financial, environmental and permitting aspects. NMG’s Phase-3 is no different, and an evaluation of the possible risks was undertaken as part of the PEA.
Scientific and technical information presented in this press release was reviewed and approved by André Allaire, P.Eng. (BBA), Jeffrey Cassoff, P.Eng. (BBA), Claude Duplessis (GoldMinds Geoservices), and Merouane Rachidi, P.Geo. (GoldMinds Geoservices) Qualified Persons as defined under NI 43-101.
The PEA for the Uatnan Mining Project, prepared in accordance with NI 43-101 guidelines, will be filed on SEDAR at www.sedar.com, EDGAR at www.sec.gov and on the Company's website at www.NMG.com within 45 days of this press release. Readers are encouraged to read the PEA in its entirety, including all qualifications, assumptions and exclusions that relate to the details summarized in this press release. The PEA is intended to be read as a whole, and sections should not be read or relied upon out of context.
About Nouveau Monde Graphite
Nouveau Monde Graphite is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
About Mason Graphite
Mason Graphite is a Canadian corporation focused on seeking investment opportunities. Its strategy is to develop vertical and horizontal integration in the mining industry, with a special focus on industrial and specialty minerals, notably battery-related materials and their by-products. Its strategy also includes the development of value-added products, notably for green technologies like transport electrification. The Company currently owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world, which is under an Option and Joint Venture Agreement with Nouveau Monde Graphite Inc.
MEDIA
Julie Paquet
VP Communications & ESG Strategy
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INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
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ROCKVILLE, Md.--(BUSINESS WIRE)--#cleanenergy--Standard Solar, a recognized leader in the development, funding, ownership and operation of commercial and community solar assets, continues to expand its community solar portfolio in Rhode Island with the acquisition of a 4.9 megawatt (MW) project from Freepoint Solar LLC.
The Woodville ground-mounted community solar project in Richmond, RI, was developed by Freepoint Solar. Standard Solar will be the project’s long-term owner and operator. The array will provide customers with locally produced clean energy and help meet the state’s goal of transitioning to 100 percent renewable energy by 2030, as mandated in 2020. The community solar project, part of Rhode Island’s Renewable Energy Growth Program, will allow customers in the state to benefit from clean energy savings by offsetting their electricity bills with solar energy.
This community solar project comes at a time of rising electricity prices across the country, with Rhode Island having some of the highest rates in the nation.
“Providing much-needed relief from rising energy costs to customers is critical to furthering the clean energy economy, and collaborating with partners like Freepoint Solar brings us a step closer to that goal,” said Harry Benson, Director of Business Development, Standard Solar. “This project, which will serve hundreds in the community, plays a significant part in transitioning Rhode Island into a 100 percent renewable energy state and will help reach its goal of being the first state in the nation to do this by 2030.”
“Freepoint Solar is pleased to have teamed with Standard Solar on the Woodville Project and continues to look for opportunities in New England to support the region’s transition toward a renewable future,” said Peter Ford, Managing Director of Freepoint Solar.
In addition to accelerating the state’s clean energy supply, the project will generate new long-term investment, savings and job growth opportunities across the economy.
The array is expected to produce 7,700-megawatt hours of clean energy annually, equivalent to offsetting the carbon emissions of 3,655,423 pounds of coal or the annual electricity use by 648 homes.
For information on how to subscribe to this solar project, contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. The project is anticipated to be completed in the summer of 2023.
About Standard Solar
Standard Solar, a Brookfield Renewable company, is powering the nation’s energy transformation – channeling its project development capabilities, financial strength and technical expertise to deliver the benefits of solar, as well as solar + storage, to businesses, institutions, farms, governments, communities and utilities. Building on 18 years of sustainable growth and in-house and tax equity investment capital, Standard Solar is a national leader in the development, funding and long-term ownership and operation of commercial and community solar assets. Recognized as an established financial partner with immediate, deep resources, the company owns and operates more than 300 megawatts of solar across the United States. Standard Solar is based in Rockville, Md. Learn more at standardsolar.com, LinkedIn and Twitter: @StandardSolar.
For project acquisition and development inquiries, contact Harry Benson, Director of Project Development, at 240-802-6012, This email address is being protected from spambots. You need JavaScript enabled to view it. and on LinkedIn.
About Freepoint Solar LLC
Freepoint Solar LLC, the solar energy development affiliate of Freepoint Commodities LLC, originates and develops distributed and utility-scale projects in the Northeastern United States located near population centers to help satisfy the growing demand for renewable power.
PR Contact for Standard Solar:
Leah Wilkinson
Wilkinson + Associates
703-907-0010
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Media Contact for Freepoint Solar LLC:
Paige Thornton
RF|Binder
212-994-7554
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