TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced that it has reached an agreement to acquire MountainWest Pipelines Holding Company (MountainWest) from Southwest Gas Holdings, Inc. (NYSE: SWX), in a transaction including $1.07 billion of cash and $0.43 billion of assumed debt, for an enterprise value of $1.5 billion. MountainWest comprises roughly 2,000-miles of interstate natural gas pipeline systems primarily located across Utah, Wyoming and Colorado, totaling approximately 8 Bcf/d of transmission capacity. MountainWest also holds 56 Bcf of total storage capacity, including the Clay Basin underground storage reservoir, providing valuable service to western markets. The acquisition price represents an approximate 8x estimated 2023 EBITDA multiple.
“Our natural gas focused strategy is anchored in having the right assets in the right places to serve our nation’s growing demand for clean, affordable and abundant natural gas. MountainWest is complementary to our current footprint, providing us with infrastructure for natural gas deliveries across key demand markets, including into Salt Lake City,” said Alan Armstrong, Williams president and Chief Executive Officer. “We also see this acquisition as an opportunity to bring value to both Williams and MountainWest customers as we integrate business processes and systems, allowing us to potentially offer new flow paths for next generation natural gas that could create additional market optionality for our shippers.”
The transaction is expected to close in 2023, following satisfaction of customary closing conditions, including regulatory approvals and the expiration or termination of any applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
For additional resources about this announcement please visit the Williams' Investor Relations website.
Advisors
TD Securities and J.P. Morgan served as co-financial advisors to Williams; Moelis & Company and Lazard Freres & Co. LLC served as co-financial advisors to Southwest Gas Holdings. Williams was represented by Davis Polk & Wardwell LLP; Southwest Gas Holdings was represented by Morrison & Foerster LLP.
About Williams
Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.
About Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc. (NYSE: SWX), through its subsidiaries, engages in the business of purchasing, distributing and transporting natural gas, and providing comprehensive utility infrastructure services across North America. Southwest Gas Corporation, a wholly owned subsidiary, safely and reliably delivers natural gas to over two million customers in Arizona, California and Nevada. The Company's MountainWest subsidiary provides natural gas storage and interstate pipeline services within the Rocky Mountain region.
Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual and quarterly reports filed with the Securities and Exchange Commission.
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Grace Scott
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Landfill Gas project in Kentucky will produce 450,000 MMBtu of RNG annually.
CANONSBURG, Pa.--(BUSINESS WIRE)--Vision RNG, LLC today announced a Renewable Natural Gas (RNG) agreement with the Laurel Ridge Landfill in Corbin, Kentucky. Owned by Laurel Ridge Landfill, LLC, a subsidiary of Waste Connections, Inc, the project will use 1,800 cfm of landfill gas (LFG) and construction is scheduled to be completed in Q4 of 2024. The project will produce 450,000 MMBtu of RNG annually that will be injected into a nearby natural gas transmission pipeline. This RNG will be used by various customers across the U.S. for transportation fuel and other sustainability purposes.
Vision RNG’s CEO, Bill Johnson commented, “We are delighted to be partnered with Waste Connections on this project. As our portfolio of RNG projects continues to expand, we are making a real impact on reducing methane emissions, capturing that wasted greenhouse gas and putting it to good use as renewable natural gas.”
About Vision RNG: Vision RNG LLC is a U.S. based, full-service developer of landfill gas to sustainable renewable natural gas projects. The Company develops, engineers, constructs and operates these infrastructure projects with a best-in-class, in-house team of industry experts. For more information, please visit https://visionrng.com.
About Waste Connections: Waste Connections is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, along with resource recovery primarily through recycling and renewable fuels generation. The Company serves more than eight million residential, commercial and industrial customers in mostly exclusive and secondary markets across 43 states in the U.S. and six provinces in Canada. Waste Connections also provides non- hazardous oilfield waste treatment, recovery and disposal services in several basins across the U.S., as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. For more information, visit Waste Connections at wasteconnections.com.
Vision RNG
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$225 million dollar expanded supply agreement supports steepening demand for Silicon Carbide across several key industries and among traditional semiconductor companies
DURHAM, N.C.--(BUSINESS WIRE)--Wolfspeed, Inc. (NYSE: WOLF), the global leader in Silicon Carbide technology, today announced the expansion of an existing multi-year, long-term Silicon Carbide wafer supply agreement, now worth approximately $225 million, with a leading power device company. The expanded agreement calls for Wolfspeed to supply the company with 150 mm Silicon Carbide bare and epitaxial wafers, reinforcing the company’s vision for an industry-wide transition from silicon to Silicon Carbide semiconductor power devices.
“Wolfspeed has an unmatched level of experience with Silicon Carbide and, as a result, is a key player in supplying the rapidly growing demand for Silicon Carbide,” said Dr. Cengiz Balkas, SVP and GM of Materials for Wolfspeed. “This agreement further strengthens our long-time cooperation with a best-in-class power semiconductor manufacturer. This well-established partnership, paired with our most recent announcement of a multi-billion-dollar materials expansion in North Carolina, is a huge step forward in our mission of transitioning the industry from silicon to Silicon Carbide.”
Wolfspeed is the global leader in the manufacturing of Silicon Carbide wafers and epitaxial wafers. The recently announced expansion of the company’s Silicon Carbide materials footprint will enhance its market leadership and improve the company’s ability to supply wafers to current and potential customers – a critical part of the larger wide bandgap semiconductor supply chain.
The adoption of Silicon Carbide-based power solutions is rapidly growing across multiple markets, including industrial and automotive. Silicon carbide solutions enable smaller, lighter and more cost-effective designs, converting energy more efficiently to unlock new clean energy applications. To better support these growing markets, device manufacturers are interested in securing access to high-quality Silicon Carbide substrates to support their customers.
The supply agreement enables Silicon Carbide applications in broad markets such as renewable energy and storage, electric vehicles, charging infrastructure, industrial power supplies, traction and variable speed drives.
About Wolfspeed, Inc.:
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.
Twitter: @Wolfspeed
LinkedIn: @Wolfspeed
Wolfspeed® is a registered trademark of Wolfspeed, Inc.
Forward Looking Statements:
This press release contains forward-looking statements by Wolfspeed involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may be unable to manufacture new products with sufficiently low cost to offer them at competitive prices or with acceptable margins; the risk we may encounter delays or other difficulties in ramping up production of our new products; customer acceptance of our new products; the rapid development of new technology and competing products that may impair demand or render Wolfspeed’s products obsolete; and other factors discussed in Wolfspeed’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 26, 2022, and subsequent filings. For additional product and company information, please refer to www.wolfspeed.com.
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818-261-4585
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SCHENECTADY, N.Y.--(BUSINESS WIRE)--DSD Renewables (DSD) has raised $155 million in debt financing for the first commercial and industrial (C&I) solar asset-backed securitization (ABS) with a significant concentration of community solar assets. The transaction, which is DSD’s first issuance of asset-backed securities, was structured and underwritten by Credit Suisse Securities (USA) LLC.
Solar asset-backed securities represent a growing opportunity to package assets originated by solar developers into diverse portfolios and offer opportunities for investors to deploy capital into renewable energy at scale. DSD’s ABS portfolio consists of about 56% onsite solar and 44% community solar, including C&I and distributed generation projects across 11 states, with offtakers benefiting from decreased electricity costs and state solar incentive programs.
“This transaction is an important step in DSD’s mission to accelerate the deployment of renewable energy,” says Jamie Hutson, DSD’s Chief Investment Officer. “We have established a path to market for a substantial inclusion of community solar, which will enable access to clean, affordable energy for a larger pool of customers.”
Being DSD’s first ABS, its structured finance, community solar and legal teams partnered with outside counsel and third party consultants to educate the investor community on C&I solar, particularly community solar. As one of the first solar securitizations to include a significant portion of community solar, DSD worked closely with agencies and investors to better understand community solar revenue structures and to adequately assess risk through a data-driven approach. This process will streamline DSD’s next issuances, and serve as an emulative industry model for other issuers to bring community solar assets to the debt capital market.
“As a first-time issuer within a newer asset class, it was critical that we considered all relevant risk and strategized with agencies, consultants and our bankers to ensure an optimal outcome,” says Ian Manchester, DSD’s Vice President of Structured Finance. “With our first securitization under our belt, we look forward to future issuances which will continue to drive commercial solar adoption and widen access to community solar projects.”
Net proceeds from the transaction will be used to pay down existing debt on DSD’s assets and support its business growth on the project origination and acquisitions front. Credit Suisse acted as Sole Structuring Agent and Sole Bookrunner for this transaction. Sidley Austin LLP acted as counsel to DSD, and Mayer Brown acted as counsel for Credit Suisse.
To date, DSD has raised over $1.5 billion in funding to support its growth and accelerate solar project deployment. DSD intends to issue asset-backed securities every six to twelve months.
About DSD Renewables
DSD Renewables (DSD) is transforming the way organizations harness clean energy while building a more sustainable future. With unparalleled capabilities including development, structured financing, project acquisition and long-term asset ownership, DSD accelerates the deployment of renewable energy resources and creates significant value for our commercial, industrial, and municipal customers and partners. Backed by world-leading financial partners like BlackRock Real Assets and rooted in our founding at GE, our team brings a distinct combination of ingenuity, rigor, and accountability to every project we manage, acquire, own, and maintain. To learn more, visit DSDRenewables.com and connect with us on LinkedIn, Twitter, and Facebook.
The securities were not registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The securities were offered and sold only (i) within the United States to persons who are qualified institutional buyers as defined in Rule 144A under the Securities Act, and (ii) to certain non‑U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. This press release shall not constitute an offer to sell any securities in any jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements can be identified by the use of terminology or expressions such as "may," "expect," "intend," "estimate," "anticipate," "plan," "project," "believe" or "continue" or the negatives thereof or variations thereon, although not all forward-looking statements contain such identifying words. Such forward-looking statements are not guarantees of future performance and are inherently subject to a variety of risks and uncertainties that could cause actual results to differ from those projected or expressed in any such forward-looking statement. Such risks and uncertainties include, but are not limited to, the rapidly evolving and competitive nature of the solar industry, demand for solar energy solutions, the impact of declines in the retail price of electricity derived from the utility grid or from alternative energy sources, the impact of increases in interest rates or tightening of supply of capital on the ability of end-users to finance the costs of a solar energy system, the impact of increased competition from existing and new competitors, developments in alternative technologies or improvements in distributed solar energy generation, changes in government subsidies and other economic incentives for solar electricity, and the impact of the ongoing Covid-19 pandemic.
Because of these uncertainties, prospective investors should not rely on these forward-looking statements when making an investment decision. Additionally, statements regarding past trends or activities should not be interpreted as assurances that those trends or activities will continue in the future. Any forward-looking statement speaks only as of the date of this press release. DSD expressly disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statement contained herein to reflect any change in DSD's expectations with regard thereto or any new information, change in events, conditions or circumstances on which any such forward-looking statement is based, except as required by law.
Meghan Gainer
Vice President, Marketing & Communications, DSD Renewables
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Christian Rizzo
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Catalyzed by the Inflation Reduction Act (IRA), Cubic Intends to Build 10 GW of Conventional Wafer Capacity, Filling Void in the Domestic Silicon Solar Value Chain
Cubic Attracts New Investors, Synergy Capital and SCG Cleanergy, in Support of Its Silicon Perovskite Tandem Module Development
BEDFORD, Mass.--(BUSINESS WIRE)--Solar manufacturing innovator, CubicPV (“Cubic” or the “Company”), today announced it plans to establish 10 GW of conventional mono wafer capacity in the United States, filling a marked void in the silicon solar value chain and capitalizing on its deep expertise in silicon wafer production. The planned facility, the first of this scale to be announced in the United States, is expected to create 1,500 new direct jobs and meet the anticipated surge in demand for U.S.-produced wafers. Today, there is no high-volume silicon wafer production in the United States, and Cubic is the only U.S. company with a core competency in wafer manufacturing.
“The IRA represents a titanic shift in the global solar landscape, and the U.S. is poised to become the world’s most competitive location to manufacture solar. We’re excited to have a role in the U.S. manufacturing renaissance while accelerating our business plan and supporting the development of our next generation tandem module technology,” said Frank van Mierlo, CEO, Cubic.
Cubic has started facility design, engaged with a construction management firm, and is currently in advanced discussions specific to the location for the facility. The Company expects to finalize the site choice during the first quarter of 2023, beginning construction soon after. Construction is anticipated to be completed in 2024 and the factory to be fully ramped in 2025.
In addition to answering a pronounced need for U.S. wafer production with the 10 GW factory, Cubic will also accelerate its R&D activities specific to tandem module development. To this end, the Company announced it has raised $26M in Series B financing. Private equity fund manager Synergy Capital and SCG Cleanergy, a wholly owned subsidiary of SCG, ASEAN’s leading conglomerate, led the round and were joined by return lead investors including Breakthrough Energy Ventures and Hunt Energy Enterprises.
To date, the solar industry has primarily depended on single junction PV technology or the use of only one light absorbing material, often silicon, to convert sunlight to electricity. This technology is approaching a module efficiency ceiling. Tandem technology introduces a much-needed solution in that it layers two light absorbers into one device, thereby breaking the efficiency barrier of single junction devices and boosting the power output of the end panel. Cubic’s approach to tandem uses the Company’s groundbreaking Direct Wafer and perovskite technologies to create an economically superior, high-efficiency module.
“Synergy is convinced of the power of tandem and its promise to underpin the next era of solar growth. With Direct Wafer and perovskite, Cubic has the key technologies to capture that growth. We are excited to lend our support as the Company establishes its U.S. footprint and drives toward tandem commercialization,” said Sudhir Maheshwari, Managing Partner, Synergy Capital.
“SCG Cleanergy is committed to investing in the next generation of innovative clean energy companies and Cubic’s tandem modules will play a powerful role in our clean energy future,” said Tim McCaffery, Global Investment Director, SCG. “We are impressed with the strength of the Cubic team, the progress of their technologies, and their commitment to innovation. We look forward to supporting the Company through this exciting next phase.”
About CubicPV Inc.
With its world-class knowledge of silicon crystallization and manufacturing, CubicPV is the most experienced wafer producer in North America. The Company’s innovations in solar manufacturing and materials are also creating a solar future defined by more powerful tandem solar modules. CubicPV’s core silicon and perovskite technologies provide the ideal semiconductor combination for high-efficiency tandem modules and lead to dramatic reductions in the cost of clean electricity with lower embedded carbon. The Company has offices in Bedford, Ma., and Dallas. For more information, please visit www.cubicpv.com.
About Synergy Capital
Synergy Capital is a specialized private equity manager investing across the capital structure in the Industrial, Metals and Infrastructure sectors globally. Synergy Capital focuses on critical sectors that generate strong human and economic impact, which are central to enabling the net-zero transition and the development of resilient and sustainable supply chains. For more information, please visit www.synergycapital.co.uk.
About SCG Cleanergy
SCG Cleanergy Company, a wholly owned subsidiary of SCG, was established to provide power solutions from renewable energy including solar and wind energy in Thailand and the ASEAN region and beyond.
Laureen Sanderson, CubicPV
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617-694-7336
Software company brings powerful analytics and prediction capabilities to Tigo and adds new opportunities for energy data monetization.
CAMPBELL, Calif.--(BUSINESS WIRE)--Tigo Energy, Inc., a leading provider of intelligent solar and energy storage solutions, today announced the acquisition of FSIGHT, an energy data analytics software company based in Hod HaSharon, Israel. With FSIGHT, Tigo expands its ability to leverage energy consumption and production data for solar energy producers, adding a powerful prediction platform that provides rich and actionable system performance data, from the grid down to the module level. The transaction was signed on Tuesday, November 29, 2022.
As a software-as-a-service (SaaS) company, FSIGHT gives utilities, IPPs (Independent Power Providers), solar assets owners, EPCs (Engineering, Procurement, and Construction firms), and investors high-fidelity visibility into the performance of their solar energy systems, the energy demand served by those systems, and accurate predictive data about the same. With the ability to deploy new, accretive service offerings, the FSIGHT platform provides Tigo a scalable data analytics infrastructure and prediction engine to accelerate the deployment and optimization of distributed energy resources (DERs). Backed by five patents and patents pending, as well as a low operations cost per endpoint business model, FSIGHT infrastructure enables accurate behind-the-meter energy insights that scale quickly for DER projects of all sizes. For smart-meter utilities, this means more accurate forecasting for load, generation, and pricing dynamics, as well as portfolio composition and the ability to automate customer clustering. FSIGHT, which was founded in 2015 by digital energy transformation pioneers Eveline Steinberger (Blue Minds) and Amos Lasker (Amrav Investments), currently serves prominent energy companies in the U.S., Israel, and Central and Eastern Europe.
“Our mission has been to facilitate the energy transition by using data to reinvent business models for a greener energy market of the future, and Tigo’s global footprint allows us to significantly accelerate these ends,” said Evgeny Finkel, CEO of FSIGHT. “Through the support of Tigo and its vast installed base, we will be able to provide even more accurate predictions about customers’ energy systems. I am delighted to join the Tigo team and bring the best of both companies to our customers.”
Mr. Finkel and the FSIGHT team will join the Tigo team at the Ra'anana, Israel, office. FSIGHT’s customer support organization will operate without interruption as the company integrates into the Tigo operation over the coming weeks and months. The two companies will structure the new operation to expand their combined offerings to make the deployment of accurate, scalable, and flexible predictive analytics even more convenient for its customers.
“The acquisition of FSIGHT strengthens our leadership position in MLPE by adding both a new layer of sophisticated energy data tools and the opportunity to expand our data services business in solar,” said Zvi Alon, chairman and CEO at Tigo Energy, Inc. “With FSIGHT, AI and machine learning technology forecasts electricity consumption and generation of individual endpoints or aggregated portfolios, which we believe benefits stakeholders all along the solar value chain. We look forward to further evolving our comprehensive digital platform to optimize the solar experience for all parties, from commissioning through operations and maintenance.”
For more information about how FSIGHT will augment advanced energy monitoring from Tigo, watch the webinar available here, or schedule an exclusive demonstration of the FSIGHT platform by contacting This email address is being protected from spambots. You need JavaScript enabled to view it..
About Tigo Energy
Founded in 2007, Tigo is a worldwide leader in the development and manufacture of smart hardware and software solutions that enhance safety, increase energy yield, and lower operating costs of residential, commercial, and utility-scale solar systems. Tigo combines its Flex MLPE (Module Level Power Electronics) and solar optimizer technology with intelligent, cloud-based software capabilities for advanced energy monitoring and control. Tigo MLPE products maximize performance, enable real-time energy monitoring, and provide code-required rapid shutdown at the module level. Tigo also develops and manufactures products such as inverters and battery storage systems for the residential solar-plus-storage market. For more information, please visit https://www.tigoenergy.com.
Additional Information and Where to Find It
This communication relates to the proposed business combination between Tigo Energy, Inc. (“Tigo”) and Roth CH Acquisition IV Co. (“Roth”) (the “Business Combination”). In connection with the Business Combination, Roth intends to file a registration statement, which will include a preliminary proxy statement/prospectus, with the SEC. The proxy statement/prospectus will be sent to shareholders of Roth. This communication is not a substitute for the proxy statement/prospectus. INVESTORS AND SECURITY HOLDERS AND OTHER INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TIGO, ROTH, THE BUSINESS COMBINATION AND RELATED MATTERS. The documents filed or that will be filed with the SEC relating to the Business Combination (when they are available) can be obtained free of charge from the SEC’s website at www.sec.gov. These documents (when they are available) can also be obtained free of charge from Roth upon written request at Roth CH Acquisition IV Co.., 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660.
Participants in Solicitation
This communication is not a solicitation of a proxy from any investor or security holder. However, Roth, Tigo, and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the Business Combination under the rules of the SEC. Information about Roth’s directors and executive officers and their ownership of Roth’s securities is set forth in filings with the SEC, including Roth’s Annual Report on Form 10-K filed with the SEC on April 7, 2022. To the extent that holdings of Roth’s securities have changed since the amounts included in Roth’s Annual Report on Form 10-K, such changes have been or will be reflected on Statements of Changes in Ownership on Form 4 filed with the SEC. Additional information regarding the participants will also be included in the proxy statement/prospectus, when it becomes available. When available, these documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication is not intended to and shall not constitute a proxy statement or the solicitation of a proxy, consent or authorization with respect to any securities in respect of the Business Combination and shall not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities or a solicitation of any vote of approval, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Tigo’s industry and market sizes, future opportunities for Roth and Tigo, and their respective estimated future results and the Business Combination, the expected transaction and ownership structure and the likelihood and ability of the parties to successfully consummate the Business Combination. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
In addition to factors previously disclosed or that will be disclosed in Roth’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement or could otherwise cause the transactions contemplated therein to fail to close; (2) the outcome of any legal proceedings that may be instituted against Roth, Tigo, or others following the announcement of the Business Combination and any definitive agreements with respect thereto; (3) the inability to complete the Business Combination due to the failure to obtain approval of the Shareholders of Roth or Tigo; (4) the inability of Tigo to satisfy other conditions to closing; (5) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the Business Combination; (6) the ability to meet stock exchange listing standards in connection with and following the consummation of the Business Combination; (7) the risk that the Business Combination disrupts current plans and operations of Tigo as a result of the announcement and consummation of the Business Combination; (8) the ability to recognize the anticipated benefits of the acquisition, which may be affected by, among other things, competition, the ability of Tigo to grow and manage growth profitably, grow its customer base, maintain relationships with customers and suppliers and retain its management and key employees; (9) the impact of the COVID-19 pandemic on the business of Tigo (including the effects of the ongoing global supply chain shortage); (10) Tigo’s limited operating history and history of net losses; (11) costs related to the Business Combination; (12) changes in applicable laws or regulations; (13) the possibility that Tigo may be adversely affected by other economic, business, regulatory, and/or competitive factors; (14) Tigo’s estimates of expenses and profitability; (15) the evolution of the markets in which Tigo competes; (16) the ability of Tigo to implement its strategic initiatives and continue to innovate its existing products; (17) the ability of Tigo to adhere to legal requirements with respect to the protection of personal data and privacy laws; (18) cybersecurity risks, data loss and other breaches of Tigo’s network security and the disclosure of personal information; and (19) the risk of regulatory lawsuits or proceedings relating to Tigo’s products or services.
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Roth and Tigo or the date of such information in the case of information from persons other than Roth and Tigo, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding Tigo’s industry and end markets are based on sources we believe to be reliable, however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.
Media Contact:
Technica Communications
Cait Caviness
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HOUSTON--(BUSINESS WIRE)--Enterprise Products Partners L.P. (NYSE: EPD) today announced that its operating subsidiary has received the International Sustainability and Carbon Certification (“ISCC”) PLUS certification for facilities within the company’s natural gas liquids fractionation and petrochemical complex in Chambers County, Texas. ISCC PLUS is an internationally recognized sustainability certification system providing traceability along the entire supply chain via a mass balance approach for circular, bio, and bio-circular feedstocks. Obtaining the ISCC PLUS certification allows Enterprise to utilize existing assets and systems to expand services for processing, transportation, and distribution of sustainable products across its pipeline network and export facilities.
“As one of the first US midstream companies to be awarded ISCC PLUS certification, we are further confirming Enterprise’s commitment to being a leader in this evolving energy landscape,” said A. J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. “Integrating ISCC PLUS certified material into our portfolio of services provides an avenue to bring these high-demand, sustainable products to our customers today, and enhances the long-term, value-added services we can provide through our integrated system.”
Enterprise Products Partners L.P. is one of the largest publicly traded partnerships and a leading North American provider of midstream energy services to producers and consumers of natural gas, NGLs, crude oil, refined products and petrochemicals. Services include: natural gas gathering, treating, processing, transportation and storage; NGL transportation, fractionation, storage and marine terminals; crude oil gathering, transportation, storage and marine terminals; petrochemical and refined products production, transportation, storage, and marine terminals and related services; and a marine transportation business that operates on key U.S. inland and intracoastal waterway systems. The partnership’s assets include more than 50,000 miles of pipelines; over 260 million barrels of storage capacity for NGLs, crude oil, refined products and petrochemicals; and 14 billion cubic feet of natural gas storage capacity. Please visit www.enterpriseproducts.com for more information.
This press release includes “forward-looking statements” as defined by the Securities and Exchange Commission. All statements, other than statements of historical fact, included herein that address activities, events, developments or transactions that Enterprise and its general partner expect, believe or anticipate will or may occur in the future are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from expectations, including required approvals by regulatory agencies, the possibility that the anticipated benefits from such activities, events, developments or transactions cannot be fully realized, the possibility that costs or difficulties related thereto will be greater than expected, the impact of competition, and other risk factors included in Enterprise’s reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Except as required by law, Enterprise does not intend to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Randy Burkhalter, Investor Relations, (713) 381-6812 or (866) 230-0745, This email address is being protected from spambots. You need JavaScript enabled to view it.
Rick Rainey, Media Relations (713) 381-3635, This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--DXP Enterprises, Inc. (NASDAQ: DXPE) today announced that its Board of Directors authorized a new stock repurchase program (the “program”) under which up to $85.0 million or 2.8 million shares of its outstanding common stock may be acquired in the open market over the next 24 months at the discretion of management. This is after the successful completion of the previous program, whereby, the Company completed the repurchase of 1.5 million shares, under the 2-year program which began in May of 2021.
The shares under the new program may be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending upon market conditions. There is no guarantee as to the exact number of shares that will be repurchased, and DXP may discontinue the program at any time management determines additional purchases are not warranted. As of September 30, 2022, DXP had approximately 19.7 million shares outstanding.
David R. Little, Chairman and CEO commented, "The last few years have demonstrated the resilience of DXP and our ability to continue to evolve. We have transformed our end markets and diversified our business. We will weather the cycles differently than we have in the past. With continued confidence in our business, DXP’s senior management and Board believe there is an attractive buying opportunity in DXP’s stock. The Board’s approval of this program reflects confidence in DXP’s future and puts us in a position to create additional shareholder value. We continue to believe that the most accretive and beneficial use of cash at times is the repurchase of our shares."
Kent Yee, CFO commented, "The continuation of our share repurchase program reflects the Board’s commitment to our disciplined capital allocation strategy and the confidence in our business. Our share repurchase programs demonstrate the confidence we have in our future, ability to produce free cash flow through different cycles and our ongoing commitment to create shareholder and stakeholder value. We have repurchased approximately 11 percent of our fully diluted shares outstanding at a cost of approximately $64 million since March 2021. As we continue to reach new sales highs and see strength in our backlog, while executing on our customer driven focus, we believe the future of DXP is substantial."
About DXP Enterprises, Inc.
DXP Enterprises, Inc. is a leading products and service distributor that adds value and total cost savings solutions to industrial customers throughout the United States, Canada and Dubai. DXP provides innovative pumping solutions, supply chain services and maintenance, repair, operating and production ("MROP") services that emphasize and utilize DXP’s vast product knowledge and technical expertise in rotating equipment, bearings, power transmission, metal working, industrial supplies and safety products and services. DXP's breadth of MROP products and service solutions allows DXP to be flexible and customer-driven, creating competitive advantages for our customers. DXP’s business segments include Service Centers, Innovative Pumping Solutions and Supply Chain Services. For more information, go to www.dxpe.com.
The Private Securities Litigation Reform Act of 1995 provides a “safe-harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made by or to be made by the Company) contains statements that are forward-looking. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future; and accordingly, such results may differ from those expressed in any forward-looking statement made by or on behalf of the Company. These risks and uncertainties include, but are not limited to; ability to obtain needed capital, dependence on existing management, leverage and debt service, domestic or global economic conditions, and changes in customer preferences and attitudes. In some cases, you can identify forward-looking statements by terminology such as, but not limited to, “may,” “will,” “should,” “intend,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “goal,” or “continue” or the negative of such terms or other comparable terminology. For more information, review the Company’s filings with the Securities and Exchange Commission.
Kent Yee
Senior Vice President CFO
713-996-4700 – www.dxpe.com
The partnership comes in anticipation of new federal regulations requiring publicly traded companies to disclose greenhouse gas emissions
SAN FRANCISCO & LONDON--(BUSINESS WIRE)--Watershed, the leading enterprise climate platform, and Workiva (NYSE:WK), the world’s leading platform for regulatory, financial, and ESG reporting, today announced a strategic partnership that provides joint customers with a unified solution for consolidated, audit-grade carbon emissions reporting.
Watershed, which provides enterprise climate management for more public companies than any other solution, will complement Workiva's trusted ESG reporting platform by allowing joint customers to aggregate Watershed’s carbon data into Workiva. Workiva's integrated reporting platform streamlines processes and connects data and teams to enable investor-grade, audit-ready reporting. Joint customers will be able to bring together best-in-class solutions and data into one reporting platform to ensure they meet their ongoing ESG disclosures, accelerate climate action, and future-proof their businesses within the rapidly-evolving regulatory landscape.
The partnership comes at a critical time amid proposed regulations from the U.S. Securities and Exchange Commission (SEC) to formalize and mandate carbon emissions disclosures by publicly traded companies, as well as the European Union’s Corporate Sustainability Reporting Directive (CSRD), both of which are addressed by the Watershed and Workiva partnership.
“We’re excited to partner with Workiva to ensure our joint customers are well-prepared for a complex and evolving disclosure landscape,” said Watershed co-founder Taylor Francis. “Together, we’re delivering a solution that both streamlines compliance and enables more actionable decarbonization as businesses work to minimize climate risks and maximize transition opportunities.”
"ESG reporting is complex, requiring the ingestion, capture, management, and reporting of financial and non-financial data from many disparate sources. Workiva’s end-to-end platform powers transparent reporting by enabling customers to streamline the flow of data, ensure accuracy to meet evolving ESG disclosure requirements, and validate data for assurance,” said Julie Iskow, President & COO of Workiva. “By partnering with Watershed, we will collectively help our mutual customers make better data-driven decisions for their companies and the environment.”
Watershed was purpose-built to meet the most rigorous regulatory standards. Watershed uses the latest climate science and auditor-approved methodologies to produce highly granular carbon footprints based on customers’ financial and operational data. This Greenhouse Gas Protocol (GHGP)-compliant measurement can then be applied to multiple reporting frameworks, including the Task Force on Climate-Related Financial Disclosures (TCFD), Carbon Disclosure Project (CDP), Science-Based Targets Initiative (SBTi), Sustainability Accounting Standards Board (SASB), and Global Reporting Initiative (GRI). Customers also have access to Watershed Marketplace, Watershed’s suite of highly-vetted renewable energy and carbon removal offerings.
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ABOUT WATERSHED: Watershed is the enterprise climate platform. Leading companies like Walmart, Airbnb, Stripe, Klarna, and Block use our software to run end-to-end climate programs with quantifiable results. Watershed delivers granular, audit-grade carbon measurement; one-click disclosure and reporting; and real emissions reduction—all in a single, intuitive, enterprise-grade software platform. Watershed customers have access to our exclusive marketplace of scientifically vetted, high-additionality carbon removal projects and high-quality offsets; in-house climate and policy expertise; and ongoing support throughout their climate journey. For more information, please visit https://watershed.com/.
ABOUT WORKIVA: Workiva Inc. (NYSE:WK) is on a mission to power transparent reporting for a better world. We build and deliver the world’s leading regulatory, financial, and ESG reporting solutions to meet stakeholder demands for action, transparency, and disclosure of financial and non-financial data. Our cloud-based platform simplifies the most complex reporting and disclosure challenges by streamlining processes, connecting data and teams, and ensuring consistency. Learn more at workiva.com.
Amelia Penniman (This email address is being protected from spambots. You need JavaScript enabled to view it.)
HOUSTON--(BUSINESS WIRE)--SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the Company”) announced today the publication of certain environmental, social and governance (“ESG”) metrics related to the Company’s 2021 ESG performance. The disclosures align with the Sustainability Accounting Standards Board (“SASB”) recommendations for the Oil and Gas – Exploration and Production industry and select Global Reporting Initiative (“GRI”) governance standards. Please visit the Company’s website at https://www.sbow.com/responsibility/overview/default.aspx to find SilverBow’s 2021 SASB and GRI disclosures, including a letter from the Chief Executive Officer.
Sean Woolverton, SilverBow’s Chief Executive Officer, commented, “Responsible stewardship of our environment, our employees and our communities is ingrained in SilverBow’s culture. We have consistently prioritized employee safety and environmentally friendly operations, and the publication of today’s ESG disclosures ensures that our actions are provided to external parties in a clear and standardized manner. Looking ahead, we will expand upon today’s ESG disclosures with the publication of our inaugural Sustainability Report in 2023.”
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested. For more information, please visit www.sbow.com. Information on the Company’s website is not part of this release.
FORWARD-LOOKING STATEMENTS
This release and the Company’s 2021 SASB and GRI disclosures cross-referenced herein contain “forward-looking statements” within the meaning of Private Securities Litigation Reform Act of 1995. These forward-looking statements represent management's expectations or beliefs concerning future events, and it is possible that the results described in this release and the cross-referenced report will not be achieved. These forward-looking statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties, many of which are beyond our control. The forward-looking statements, other than statements of historical fact, included in this release and the disclosures cross-referenced herein concern the Company’s goals and expectations regarding corporate responsibility, sustainability, employees, environmental matters, policy, philanthropy, and business risks and opportunities. These goals and expectations are subject to the risks and uncertainties described in detail in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission, including in its Annual Report on Form 10-K for the year ended December 31, 2021, and subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. All forward-looking statements speak only as of the date of this release. You should not place undue reliance on these forward-looking statements.
Jeff Magids
Director of Finance & Investor Relations
(281) 874-2700, (888) 991-SBOW
Company will perform operational testing and evaluation for TSA systems
RESTON, Va.--(BUSINESS WIRE)--Science Applications International Corp. (NYSE: SAIC) has been awarded a blanket purchase agreement by the Transportation Security Administration (TSA) with an estimated value of $150 million, to continue performing operational testing and evaluation of TSA airport screening equipment and non-screening systems.
“We continue to use our technology to support TSA’s mission of securing people and commerce in our nation’s airports,” said Bob Genter, president, Defense and Civilian Sector at SAIC. “SAIC’s cost-effective system evaluation capabilities support essential airport screening equipment used every day to protect travelers in the U.S., as well as non-screening systems that support critical DHS and TSA operations.”
Under this agreement, SAIC will provide test planning, execution, data analysis and evaluation of passenger and baggage screening equipment. Additionally, this blanket purchase agreement will ensure TSA continues to receive the critical support needed to validate the operational effectiveness, suitability and cyber resilience of systems used to protect the nation’s transportation of people and cargo.
About SAIC
SAIC® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.
We are approximately 26,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit saic.com. For ongoing news, please visit our newsroom.
Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov. Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
Media:
Thais Hanson
703.676.8215 | This email address is being protected from spambots. You need JavaScript enabled to view it.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--$ARR.TO #Altius--Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Corporation”, or the “Company”) announced today that the underwriters of its recently closed bought deal public offering (the “Offering”) of common shares of the Company (the “Shares”) have partially exercised the over-allotment option (the “Over-Allotment Option”) granted to the syndicate of underwriters led by TD Securities Inc. and Cormark Securities Inc., including National Bank Financial Inc., Peters & Co. Limited, Raymond James Ltd., Scotiabank, CIBC Capital Markets and Laurentian Bank Securities Inc. for the issuance of an additional 368,800 Shares at a price of $9.00 per Share, for aggregate gross proceeds of C$3,319,200.
The Company intends to use the net proceeds from the partial exercise of the Over-Allotment Option for general corporate purposes.
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 32 renewable energy royalties representing 735 MW of renewable power on operating projects and an additional approximately 6 GW on projects in development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from Great Bay’s investments in Bluestar Energy Capital and Hodson Energy. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
Forward-Looking Information
This news release contains forward-looking information as defined under Canadian securities laws which reflect management’s current expectations. Some of the specific forward-looking statements contained herein include, but are not limited to, the intended use of proceeds. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Prospectus Supplement. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of ARR under the Company’s profile at www.sedar.com.
For further information, please contact:
Flora Wood
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 1.877.576.2209
Direct: +1.416.346.9020
Ben Lewis
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Tel: +1.877.576.2209
HAMILTON, Bermuda--(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced today that it has issued its 2021 Sustainability Report. The Sustainability Report can be found on the "Safety & Environment ‒ Sustainability" page of the Valaris website at www.valaris.com.
President and Chief Executive Officer, Anton Dibowitz said, “We are committed to making progress on our sustainability journey, and we have a strong framework in place to advance our program. This includes a dedicated ESG board committee, an executive management position focused on sustainability and new energy and a cross-functional working group that identifies and evaluates opportunities to promote sustainable business practices that support our purpose of providing responsible solutions that deliver energy to the world.”
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.
Cautionary Statements
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include words or phrases such as "anticipate," "believe," "estimate," "expect," "intend," “likely,” "plan," "project," "could," "may," "might," “should,” “will” and similar words. The forward-looking statements contained in this press release are subject to numerous risks, uncertainties and assumptions that may cause actual results to vary materially from those indicated, including the cancellation, suspension, renegotiation or termination of drilling contracts and programs, including drilling contracts which grant the customer termination rights if final investment decision (FID) is not received with respect to projects for which the drilling rig is contracted; oil and natural gas price volatility, customer demand for drilling rigs; downtime and other risks associated with offshore rig operations; severe weather or hurricanes; changes in worldwide rig supply, competition and technology; risks inherent to shipyard rig reactivation, upgrade, repair or maintenance; our ability to enter into, and the terms of, future drilling contracts; suitability of rigs for future contracts; governmental regulatory, legislative and permitting requirements affecting drilling operations; our ability to obtain financing, fund capital expenditures and pursue other business opportunities; the effects of our emergence from bankruptcy on the Company's business, relationships, comparability of our financial results and ability to access financing sources; actions taken by regulatory authorities or other third parties; the COVID-19 global pandemic and the related public health measures implemented by governments worldwide; increased scrutiny of Environmental, Social and Governance (“ESG”) practices and reporting responsibilities; changes in customer strategy; future levels of offshore drilling activity; governmental action, civil unrest and political and economic uncertainties; terrorism, piracy and military action; environmental or other liabilities, risks or losses; debt agreement restrictions that may limit our liquidity and flexibility; failure to satisfy our debt obligations; and cybersecurity risks and threats. In addition to the numerous factors described above, you should also carefully read and consider “Item 1A. Risk Factors” in Part I and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II of our most recent annual report on Form 10-K, which is available on the Securities and Exchange Commission’s website at www.sec.gov or on the Investor Relations section of our website at www.valaris.com. Each forward-looking statement speaks only as of the date of the particular statement and we undertake no obligation to update or revise any forward-looking statements, except as required by law.
Investor & Media Contacts:
Darin Gibbins
Vice President - Investor Relations and Treasurer
+1-713-979-4623
Tim Richardson
Director - Investor Relations
+1-713-979-4619
MISSISSAUGA, Ontario--(BUSINESS WIRE)--Schneider Electric, the global leader in the digital transformation of energy management and automation, today announced that its Wiser home energy management app currently available in Europe received special honors at this year’s Consumer Electronic Show (CES) being named a 2023 Innovation Award Honoree in the Smart Home category. The award recognizes outstanding design and engineering in technology products, focusing on sophisticated monitoring and control solutions.
Homeowners worldwide are facing significant energy challenges, including rising utility rates, energy scarcity, unreliable energy distribution and a global climate crisis. This is further complicated by homes accounting for 20 percent of the world’s carbon emissions. To properly address these challenges, homeowners need innovative solutions to make homes more sustainable, while managing energy use, finding efficiencies and ensuring reliable and cost-effective power without compromising on convenience and comfort.
“Consumers recognize the importance of sustainability in the face of climate issues, and they are also feeling the impact of rising energy costs and the importance of reliable energy as they spend an increasing amount of time in their homes,” said YiFu Qi, Executive Vice President Home & Distribution at Schneider Electric. “Thankfully, digital tools are available now and can be easily implemented to help consumers address these home energy challenges. We are incredibly honored to receive this recognition from CES for the Wiser Home Energy App, which brings new levels of insight and control to homeowners, simplifying energy management to make their homes more sustainable and more efficient.”
Truly intelligent home energy management
The Wiser App from Schneider Electric makes it simple for homeowners to monitor and manage their energy use, predict spending and set budgets to reduce their bills, and prepare for a more sustainable future – all in just a few quick taps:
The CES Innovation Awards are chosen from product and accessory nominations that provide consumers with sophisticated monitoring and control over building functions and/or enable users to maintain a wired or wireless data network, including products and software that offer remote access. Award winners are chosen by a panel of judges who are highly respected experts in their fields, and evaluate based on the engineering, design, and innovation of the products nominated.
About Schneider Electric
Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.
Our mission is to be your digital partner for Sustainability and Efficiency.
We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.
Discover Life Is On
Follow us on: Twitter | Facebook | LinkedIn | YouTube | Instagram | Blog
Hashtags: #Microgrid #LifeIsOn #AccessToEnergy #SchneiderElectric
Media:
Media Relations - Edelman on behalf of Schneider Electric, Juan Pablo Guerrero,
Phone: +1 416 875 7173, Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
AE’s program awards tuition support, internship opportunities and professional mentoring for students from seven partner universities
DENVER--(BUSINESS WIRE)--Advanced Energy (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement and control solutions – launched its 2023 Advanced Energy STEM Diversity Scholarship Program. The program aims to develop emerging talent and promote greater ethnic, racial and gender diversity in STEM (science, technology, engineering and mathematics). In addition to providing each recipient a $20,000 grant towards tuition cost, benefits include professional mentoring and internship opportunities at Advanced Energy.
“The technology industry’s success depends on new ideas coming from a diverse, innovative and entrepreneurial workforce, and we need to be intentional about reaching out to underrepresented groups in the STEM field,” said Randy Heckman, Chief Technology Officer at Advanced Energy. “Our STEM Diversity Scholarship Program aims to expand the talent pipeline and develop students from diverse backgrounds into workforce-ready professionals.”
The 2023 program is currently accepting applications from undergraduate and post-graduate students enrolled at seven partner universities that excel in education and research supporting precision power technologies: the University of Colorado, Colorado State University, University at Buffalo, Rochester Institute of Technology, University of Minnesota, San Jose State University and California Polytechnic State University at San Luis Obispo. The scholarship application submission deadline is January 31, 2023.
This is the third year for this program. Recipients of the Advanced Energy STEM Diversity Scholarships in 2021 and 2022 attended the University at Buffalo, Rochester Institute of Technology, University of Colorado Boulder and Colorado State University.
To learn more about the submission and selection process, visit: https://www.advancedenergy.com/stemscholarship
About Advanced Energy
Advanced Energy Industries, Inc. (Nasdaq: AEIS) is a global leader in the design and manufacture of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Advanced Energy’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial production, medical and life sciences, data center computing, networking and telecommunications. With engineering know-how and responsive service and support for customers around the globe, the company builds collaborative partnerships to meet technology advances, propels growth of its customers and innovates the future of power. Advanced Energy has devoted four decades to perfecting power. It is headquartered in Denver, Colorado, USA.
For more information, visit www.advancedenergy.com.
Advanced Energy | Precision. Power. Performance. Trust.
For press inquiries, contact:
Simon Flatt
Grand Bridges for Advanced Energy Industries, Inc.
This email address is being protected from spambots. You need JavaScript enabled to view it.
+1 310.529.0321
MADISON, Wis.--(BUSINESS WIRE)--MGE Energy, Inc. (Nasdaq: MGEE) highlights the release of its annual Corporate Responsibility and Sustainability Report in its latest investor newsletter, "Interim Report," which includes the following topics:
- New newsletter schedule in 2023
- Third-quarter earnings
- Approval of MGE's EV managed charging pilots
- MGE named Green Master for ninth time
- Tax information
- Lobbying efforts
The newsletter is available on MGE Energy's website at: https://www.mgeenergy.com/interimreport
Interim Report is published quarterly to provide investors with information about MGE Energy and its primary subsidiary, Madison Gas and Electric.
About MGE Energy
MGE Energy is an investor-owned public utility holding company headquartered in the state capital of Madison, Wis. It is the parent company of Madison Gas and Electric, which generates and distributes electricity in Dane County, Wis., and purchases and distributes natural gas in seven south-central and western Wisconsin counties. MGE Energy's assets total approximately $2.4 billion, and its 2021 revenues were approximately $607 million.
Investor relations contact
Ken Frassetto
Director Shareholder Services and Treasury Management
608-252-4723 | This email address is being protected from spambots. You need JavaScript enabled to view it.
Revolution to Begin Operation in Mid-2023
MIAMI & CRANE, Texas--(BUSINESS WIRE)--Spearmint Energy (“Spearmint”) a next-generation renewable energy company enabling the clean energy revolution through battery energy storage, today announced that it has begun construction of Revolution, its 150 MW, 2-hour battery energy storage project in West Texas, in partnership with Mortenson, a leading power engineering, procurement, and construction (EPC) contractor with deep experience in wind, solar, transmission and distribution, repowering, and battery energy storage.
In November 2022, Spearmint and Mortenson executed an EPC agreement under which Mortenson will design and build Revolution. Specifically, Mortenson will construct the battery storage facility, substation, and transmission line connecting the project to the ERCOT grid. Revolution marks Mortenson’s 20th battery energy storage project.
“We are proud to begin construction of Revolution in close partnership with Mortenson, an industry pioneer with significant expertise engineering and constructing battery energy storage facilities,” said Andrew Waranch, Founder, President, and Chief Executive Officer of Spearmint. “Revolution will provide critical grid resiliency and reliability services to enable the continued deployment of low-cost renewable energy in ERCOT at a time when our nation is grappling with challenges brought by a changing climate, rising oil and natural gas prices, increasing demand for electricity, and the impacts of supply chain constraints, inflation, and tariffs on the construction of new generation facilities. We are pleased to break ground with Mortenson on our inaugural project and are 100% committed to bringing Revolution into service with a pledge to zero injuries.”
Brent Bergland, Vice President of Project Development for Mortenson added, “We are excited to share our best-in-class battery energy storage design and building capabilities to execute Revolution safely and successfully. We look forward to working closely with the Spearmint team to add this much-needed storage asset to the ERCOT grid.”
Located in West Texas, a long-established wind and solar generation hub within the Lower Colorado River Authority’s transmission network, Revolution is expected to be one of the largest batteries in the United States, furthering the growth of “Texas-sized” batteries in ERCOT and across the country. Revolution, which will begin operation in mid-2023, will support a low-cost, clean, and resilient grid for homes and business throughout ERCOT, while shifting energy generated by wind and the sun to times when it is most needed.
About Spearmint Energy
Founded by energy industry veteran Andrew Waranch in partnership with Kevin Kelley, CEO of Roscommon Analytics LLC, Spearmint is a next generation renewable energy company enabling the clean energy revolution through battery energy storage. The Spearmint platform is comprised of three distinct strategies, including battery and solar project development, energy storage offtake, and renewables power trading. For more information, please visit: https://www.spearmintenergy.com/
About Mortenson
Mortenson is a U.S.-based, top-20 builder, developer, and engineering services provider serving the commercial, institutional, and energy sectors. Mortenson’s expanding portfolio of integrated services helps its customers move their strategies forward, ensuring their investments result in high-performing assets. The result is a turnkey partner, fully invested in the business success of its customers. For additional information, visit www.mortenson.com.
Media:
Amanda Shpiner/Sara Widmann
Gasthalter & Co.
(212) 257-4170
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Whole Home Electrification prioritizes equity in decarbonization and energy efficiency
CHICAGO--(BUSINESS WIRE)--The electrification of transportation, buildings and industries that use fossil fuels is crucial to building cleaner, healthier and more sustainable communities. To advance the electrification of buildings for all communities, ComEd today announced a first-of-its-kind program to convert low-income single family and multi-unit homes to all-electric, using highly efficient technologies.
The $40 million Whole Home Electrification Program will empower low-income homeowners and tenants to reduce their carbon footprint, energy costs and climate impact. Illinois’ landmark Climate and Equitable Jobs Act (CEJA) law paves the way for ComEd to offer home electrification technologies, including heat pumps, as part of a broader push to increase the adoption of technologies that can lower air pollution from carbon emissions. This program will build on ComEd’s portfolio of energy efficiency programs which have saved northern Illinois customers more than $7 billion on their electric bills since 2008.
“We are thrilled to launch the Whole Home Electrification program – a first-of-its-kind effort to expand home energy efficiency programs with a focus on delivering cost and energy savings to our low-income customers first,” said Gil C Quiniones, CEO of ComEd. “While ComEd has led for over a decade by delivering billions of dollars in savings through our award-winning energy efficiency program, the launch of our Whole Home Electrification program represents the next frontier in our work alongside state, regional and local partners to help our customers achieve a cleaner and more sustainable future where our communities most vulnerable to pollution are not left behind.”
ComEd kicked off work on the Whole Home Electrification program earlier this year in collaboration with local climate justice nonprofit Elevate. Through this collaboration, ComEd, Elevate and local contractors will deliver comprehensive appliance and HVAC upgrades, building weatherization, and health and safety modifications required to safely and efficiently reduce reliance on fossil fuel energy sources, like gas and propane, for homeowners and residents in 100 single and multi-unit homes in Chicago.
As one of several partners, Elevate and ComEd will use the program to better understand cost and energy benefit savings, and to inform a model for home decarbonization that can be replicated to serve more customers outside of Chicago as well, including those in areas with older housing stock, which tends to cost more to heat.
“Electrification is more than just an opportunity for carbon savings – it leads to healthier, safer, and more comfortable homes,” said Anne Evens, CEO of Elevate. “Making these benefits accessible to the communities that need it most is essential. We’re excited to continue working with ComEd to grow the reach of this program.”
Through the Whole Home Electrification program, low-income customers will receive a variety of free upgrades that will help lower their energy usage and overall energy costs. Following a technical assessment of the home by a participating ComEd Energy Efficiency Service Provider (EESP), customers will receive ENERGY STAR-qualified upgrades that may include: heat pumps, heat pump water heaters, induction or electric stoves, and electric or heat pump clothes dryers.
As part of the program, ComEd will fund 100 percent of qualifying electrification upgrades for single family homes and up to 70 percent for qualifying multi-unit buildings, with the remaining costs paid for by the building owners at no cost to the tenants. Customers may also receive free weatherization and health and safety improvements that may be required to efficiently and safely reduce reliance upon in-home fossil fuel use.
“The Chicago Bungalow Association (CBA) is proud to be partnering with ComEd and Elevate to deliver the benefits of home electrification to low-income communities across Chicago,” said Mary Ellen Guest, Executive Director of the Chicago Bungalow Association. “We know that vintage homeowners from the south and west side, often communities of color, face a higher energy burden, and are at a higher risk for poor air quality. Through ComEd’s investments in the Whole Home Electrification program, we’re seeking to reach more people with the benefit of higher efficiency home appliances and systems that can lower energy costs, enhance home comfort and safety for the family, and contribute to lower emissions for their surrounding community.”
To identify candidates for the program, ComEd and its partners, which include Elevate Energy, Resource Innovations, Franklin Energy, and BlocPower, are taking a hyper targeted approach to ensure the upgrades will result in overall energy bill savings for the customer and that the home or building can accommodate the electrification upgrades.
“Resource Innovations is excited to support ComEd’s new Whole Home Electrification program for residential customers who currently rely on fossil fuels for their heating needs,” said Scott Yee, Director of Resource Innovations. “By connecting ComEd customers with trained contractors who can help determine if a whole home electrification upgrade is right for the household, we are helping make a difference in our communities and their total environmental impact.”
A recent report by the Natural Resources Defense Council (NRDC) reveals that low-income customers participating in home electrification could save up to $1,445 per year on energy costs, though actual savings will vary by customer. Switching sooner could help maximize savings, thanks to the availability of incentives and rebates for heat pumps as well as other electrification and energy efficiency measures provided through the Inflation Reduction Act.
“As Illinois upgrades and electrifies our buildings, we must ensure people with limited incomes have access to those electrification improvements at little to no cost. This is essential to ensure equitable access to affordable energy,” said Valeria Rincon, Midwest Building Decarbonization Advocate at NRDC. “The use of efficient, clean, electric appliances offers a huge energy and cost-savings opportunity for Chicagoans, particularly those most energy burdened.”
Beyond the cost savings, customers who electrify their homes can benefit from improved indoor air quality and overall community health. Not only are electric appliances demonstrated to deliver heat and air conditioning to maintain comfortable in-home temperatures year-round, but they can help address indoor air quality issues while significantly lowering GHG output that impacts the surrounding community.
In addition to building electrification, ComEd has helped lead efforts to advance transportation electrification in the region, including collaborating with regional partners to plan infrastructure, conducting research to prepare the grid for the rise in Electric Vehicles (EVs), and offering customers and communities resources to assist with fleet electrification as well as personal EV purchases. For more on ComEd’s efforts to assist with EV planning, please visit the EV Toolkit.
About Building Electrification
Electrification refers to replacing technologies that use fossil fuels (for example, gasoline, natural gas, or propane) with technologies that use electricity powered by decarbonized energy sources, reducing carbon emissions. Building electrification entails converting fossil fuel technologies used in homes and businesses with highly efficient electric alternatives, such as heat pumps. Heat pumps can offer an efficient electric heating and cooling system that works year-round to cool and heat homes.
The Biden Administration recently invoked the Defense Production Act to boost manufacturing of heat pumps and higher efficiency insulation, which will play a role in helping to drive down carbon pollution from homes and commercial buildings, which currently account for 13 percent of U.S. climate pollution, according to the US EPA. Modern heat pump technologies are proven to perform in the coldest of climates, even when temperatures fall below zero degrees. They can significantly reduce energy consumption and carbon emissions, all while saving homeowners on their energy bills.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
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KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy, Inc. (NYSE: EVRG) today announced it will transfer its stock exchange listing from the New York Stock Exchange (NYSE) to the Nasdaq Global Select Market, effective as of the opening of trading on Wednesday, Dec. 28, 2022. The last day of trading on the NYSE will be Tuesday, Dec. 27, 2022. Evergy’s common stock will continue to trade under the ticker symbol “EVRG.”
“Evergy prides itself on innovation and providing cost-effective power and clean energy to our customers, while bringing value to our shareholders,” said David Campbell, Evergy President and Chief Executive Officer. “Our stock exchange move will allow us to benefit from Nasdaq’s cutting-edge technology and information in serving our shareholders, and we are excited to be joining a wide range of innovative companies listed on Nasdaq.”
About Evergy
Evergy, Inc. (NYSE: EVRG), serves 1.6 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.
For more information about Evergy, visit us at http://investors.evergy.com.
Forward Looking Statements
Statements made in this Document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy, Inc.’s strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as “anticipates,” “believes,” “expects,” “estimates,” “forecasts,” “should,” “could,” “may,” “seeks,” “intends,” “proposed,” “projects,” “planned,” “target,” “outlook,” “remain confident,” “goal,” “will” or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.
In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Evergy, Inc. and its subsidiaries (collectively, the “Evergy Companies”) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; changes in business strategy or operations; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation, securitization and restructuring of the electric utility industry; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; the impact of climate change, including increased frequency and severity of significant weather events and the extent to which counterparties are willing to do business with, finance the operations of or purchase energy from the Evergy Companies due to the fact that the Evergy Companies operate coal-fired generation; prices and availability of electricity and natural gas in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of the Coronavirus pandemic on, among other things, sales, results of operations, financial condition, liquidity and cash flows, and also on operational issues, such as supply chain issues and the availability and ability of the Evergy Companies’ employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations and independent system operators; financial market conditions and performance, including changes in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; the transition to a replacement for the London Interbank Offered Rate benchmark interest rate; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of physical and cybersecurity breaches, criminal activity, terrorist attacks, acts of war and other disruptions to the Evergy Companies’ facilities or information technology infrastructure or the facilities and infrastructure of third-party service providers on which the Evergy Companies rely; Impact of the Russian, Ukrainian conflict on the global energy market; ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays and cost increases of generation, transmission, distribution or other projects; the Evergy Companies’ ability to manage their transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to the Evergy Companies’ ability to attract and retain qualified personnel, maintain satisfactory relationships with their labor unions and manage costs of, or changes in, wages, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence Evergy, Inc.’s strategic plan, financial results or operations; the possibility that strategic initiatives, including mergers, acquisitions and divestitures, and long-term financial plans, may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, regulators or suppliers; and other risks and uncertainties.
This list of factors is not all-inclusive because it is not possible to predict all factors. You should also carefully consider the information contained in our other filings with the Securities and Exchange Commission (“SEC”). Additional risks and uncertainties are discussed in the Annual Report on Form 10-K for the year ended December 31, 2021, filed by the Evergy Companies with the SEC, and from time to time in current reports on Form 8-K and quarterly reports on Form 10-Q filed by the Evergy Companies with the SEC. Each forward-looking statement speaks only as of the date of the particular statement. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Investor Contact:
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Phone: 816-652-1060
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AUSTIN, Texas--(BUSINESS WIRE)--Atlas Energy Solutions (referred to as “Atlas”) today announced that it has signed sand supply and logistics agreements with major oil companies, including a multi-year agreement with bpx energy, that includes the delivery of proppant via Atlas’s Delaware Basin conveyor-based logistics solution (the “Dune Express”). Commercial in-service of the Dune Express is currently expected to take place in 2024. In January 2023, Atlas plans to deploy built-for-purpose trucking assets in advance of this transformational piece of logistics infrastructure.
The Dune Express, which will originate at Atlas’s Kermit, TX facility, will serve the Delaware Basin, and represents the first long-haul proppant conveyor system in the world. The Dune Express is designed to be 42-miles in length and will feature more than 75,000 tons of dry storage within the system. The Dune Express is expected to take thousands of trucks off public roads, resulting in the avoidance of traffic accidents and associated fatalities in the region, while significantly reducing the emissions footprint of sand delivery in the Permian. In combination with Atlas’s high-efficiency trucking fleet, Atlas offers a proppant and logistics solution that is purpose-built to reliably deliver value to Permian Basin operators and improve the safety of the local communities of the region.
Bud Brigham, Executive Chairman and CEO of Atlas commented, “These agreements represent a validation of our differentiated logistics platform. We recognized from day one when we started Atlas that the intensity of sand delivery trucks on the road, and the associated societal and environmental consequences, was unacceptable. We therefore greatly appreciate the commitment of bpx energy to transform the Permian into a more reliable, prosperous, safe and environmentally friendly energy producing region, one that is so very vital to the future of our country and the world.”
Kyle Koontz, bpx energy COO of Development, added “bpx energy is committed to safely producing high-margin barrels while driving down emissions. This agreement with Atlas is another step in our journey and shows that we can use the latest technology to fundamentally improve safety in the Permian by reducing truck traffic while enhancing our development program through logistics and planning initiatives like The Dune Express.”
About Atlas Energy Solutions
Founded as Atlas Sand Company, LLC in 2017 by long-time E&P operators and led by Bud Brigham, we rebranded as Atlas Energy Solutions in 2022. Our experience as E&P operators, combined with our focus on using technology to deliver novel solutions to difficult challenges differentiates us as a provider of dynamic solutions fit for purpose to our customers’ toughest challenges and mission-critical needs.
Atlas is a leader in the proppant and proppant logistics industry and is currently solely focused on serving customers in the Permian Basin of West Texas & New Mexico, the most active oil and natural gas producing region in North America. Our Kermit, TX & Monahans, TX facilities are strategically located and specifically designed to maximize reliability of supply and product quality, and our planned deployment of trucking assets and the Dune Express is expected to drive significant logistics efficiencies.
Forward Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that Atlas expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements pertaining to Atlas’s Dune Express system and built-for-purpose trucking assets and the expectations of plans, strategies, objectives and anticipated financial and operating results of Atlas, including the expected timing and results thereof. These statements are based on certain assumptions made by Atlas based on management’s experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond Atlas’s control and difficult to predict, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, Atlas’s ability to complete construction or begin operation of the Dune Express by the date or at the cost currently estimated, the worldwide economic outlook and the supply and demand of oil and natural gas, global or national health events, such as the COVID-19 pandemic, and economic and competitive conditions, including those resulting from the ongoing conflict between Russia and Ukraine and elevated inflation levels resulting from global supply and demand imbalances. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, Atlas’s actual results and plans could differ materially from those expressed in any forward-looking statements. These statements are made as of today’s date and Atlas undertakes no obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise, except as required by applicable law.
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