TORONTO--(BUSINESS WIRE)--$LGO #cleanenergy--Largo Inc. ("Largo" or the "Company") (TSX: LGO) (NASDAQ: LGO) announces a change in leadership in which Paulo Misk, President and Chief Executive Officer has left the organization with immediate effect.
The Company’s Board of Directors (“the Board”) has appointed Mr. Daniel Tellechea as interim Chief Executive Officer to assist the Company through this period of transition. Mr. Tellechea has served on the Company’s Board of Directors since 2015 and currently serves as the Chair of the Company’s Operations Committee.
A search for a permanent Chief Executive Officer has begun and the Company has not amended its goals or objectives planned for the ensuing year, including its previously announced 2023 guidance.
J. Alberto Arias Chairman of the Board of Directors stated, “Daniel has extensive experience in the metals and mining sector with some of the most successful metal companies in the Americas. His skill set will be invaluable during this period of management transition and his priority will be on the efficiency of the Company’s vanadium operations in Brazil. The Company continues with its goal of adding shareholder value through its two-pillar strategy as a tier one vanadium supplier with an emerging U.S.-based energy storage business with manufacturing facilities in Massachusetts.”
Mr. Tellechea has extensive experience in international mining, most recently serving as President & CEO of Sierra Metals, Inc. from 2007 to 2014, a Toronto based mining company listed on both the Toronto Stock Exchange with assets in Mexico and Peru. Prior to Sierra Metals, Mr. Tellechea was President and CEO of Asarco LLC from 2003 to 2005, and also served as the Managing Director of Finance and Administration for Asarco’s parent, Grupo Mexico from 1994 to 2003. Mr. Tellechea also served as Asarco’s Chief Financial Officer and Vice President of Finance for Southern Copper Corporation, which was majority owned by Grupo Mexico. Mr. Tellechea earned a Bachelor of Science in Accounting and a Master’s Degree in Business Administration from Tecnologico de Monterrey.
About Largo
Largo has a long and successful history as one of the world’s preferred vanadium companies through the supply of its VPURE™ and VPURE+™ products, which are sourced from one of the world's highest-grade vanadium deposits at the Company's Maracás Menchen Mine in Brazil. Aiming to enhance value creation at Largo, the Company is in the process of implementing a titanium dioxide pigment plant using feedstock sourced from its existing operations in addition to advancing its U.S.-based clean energy division with its VCHARGE vanadium batteries. Largo’s VCHARGE vanadium batteries contain a variety of innovations, enabling an efficient, safe and ESG-aligned long duration solution that is fully recyclable at the end of its 25+ year lifespan. Producing some of the world’s highest quality vanadium, Largo’s strategic business plan is based on two pillars: 1.) leading vanadium supplier with an outlined growth plan and 2.) U.S.-based energy storage business support a low carbon future.
Largo’s common shares trade on the Nasdaq Stock Market and on the Toronto Stock Exchange under the symbol "LGO". For more information on the Company, please visit www.largoinc.com.
Investor Relations
Alex Guthrie
Senior Manager, External Relations
+1.416.861.9778
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SEATTLE--(BUSINESS WIRE)--#MMR--Ultra Safe Nuclear Corporation (USNC), the U.S.-based global leader in the deployment of fourth-generation gas-cooled microreactors, announces Rosemary Yeremian as Vice President, Business Development, Canada. In this role, Rosemary provides leadership and strategic direction for the development of business opportunities for USNC’s Micro-Modular™ Reactor (MMR®) in Canada, including new advanced microreactor builds.
“I am excited to join this mission-driven team on such firm footing to deliver the benefits of advanced nuclear microreactors to industry and communities across Canada,” said Rosemary. “There is a clear need for the MMR as a solution in the energy transition and I look forward to building the commercial basis to make it happen.”
Rosemary joins Ultra Safe Nuclear from X-energy Canada, where she was Vice President of Corporate Strategy and Business Development. She is an award-winning nuclear and aerospace leader and served as President of Thermodyne Engineering Ltd. and President & CEO of Strategic Insights Inc., a nuclear business development consulting firm with offices in three continents. Her past experiences also include new nuclear build projects at Atomic Energy of Canada Limited (AECL) and nuclear sector financing advisory services at Export Development Canada, where she was part of the Canadian Government team during the Bombardier-Embraer dispute at the World Trade Organization. Rosemary is an Accredited Business Communicator and a past Executive Committee Member of the American Nuclear Society’s Operation and Power Division.
“Rosemary is a terrific addition to the USNC team in Canada,” said Vladimir Novak, chief commercial officer of Ultra Safe Nuclear. “Her experience, drive, and leadership bring the right skillsets at the right time as Canada leads much of the forward progress in advanced nuclear.”
“Canada is vital to USNC growth and development,” said Francesco Venneri, USNC’s CEO. “Canada’s Tier 1 nuclear industry experience and infrastructure will play a central role in the design, siting, licensing, and supply chain for Ultra Safe Nuclear’s flagship microreactor. Ms. Yeremian’s deep knowledge of the Canadian nuclear landscape will be invaluable to USNC’s success.”
The MMR Energy System features a fourth-generation high-temperature gas microreactor that delivers safe, clean, and cost-effective electricity and process heat to users anywhere. Particularly well-suited to microgrid communities and industrial sites tied to GHG emitting and expensive fossil fuels, the MMR is being licensed in Canada and the U.S. and will be the first commercially available "nuclear battery.” MMR deployments are moving forward, including the projects at Chalk River, which is on target for first power in 2026, and the University of Illinois Urbana-Champaign, targeted for first power the following year.
About Ultra Safe Nuclear
Ultra Safe Nuclear Corporation, a U.S. corporation headquartered in Seattle, is a global leader and strong vertical integrator of nuclear technologies and services, on Earth and in Space. The company produces the Micro-Modular™ reactor (MMR®), Fully Ceramic Micro-encapsulated FCM® nuclear fuel, and nuclear power and propulsion technologies for space exploration.
The company has active MMR deployment projects at the Canadian Nuclear Laboratories with Ontario Power Generation and at the University of Illinois Urbana-Champaign. Additional deployments are in development in the United States, Canada, and Europe. Ultra Safe Nuclear is working in collaboration with NASA and the Department of Defense on advanced radioisotope-based power production technology, nuclear thermal propulsion systems and advanced materials using the same foundational inherent and intrinsic safety principles to drive innovation in fuels, materials, and design.
Ultra Safe Nuclear is committed to opening new markets around the world for safe, commercially competitive, clean, and reliable heat and power from nuclear energy. The cornerstone of USNC’s technology is FCM fuel. Based on proven and trusted TRISO fuel particles, FCM enhances safety through proprietary technology to embed TRISO particles in a silicon carbide matrix. Ultra Safe Nuclear is the only privately funded company actively producing TRISO and FCM fuels.
USNC vertical integration captures the entire value chain, from fuel manufacturing to reactor construction and operation, maximizes competitive advantage and reduces risk. Ultra Safe Nuclear is Reliable Zero-Carbon Energy. Anywhere.
Brian Meeley
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703.282.0691
Investment will create first-of-its-kind Smart Port Lab and stimulate local economy
PONCE, PUERTO RICO--(BUSINESS WIRE)--Scale AI, the data infrastructure for AI, announced a partnership with the Ponce Port Authority to transform the Port of Ponce, Puerto Rico, from a Federal Emergency Management Agency (FEMA)-designated disaster site into a Smart Port Lab where AI-enabled infrastructure will be researched, built and exported to shipping ports globally. Today, leaders from Scale, the Government of Puerto Rico, the U.S. Federal Government, and Invest Puerto Rico gathered to announce Scale’s Smart Port Lab, which will generate local jobs and introduce Smart Port infrastructure to the world.
Through an investment of $2,000,000, Scale will develop Smart Port infrastructure at the Port of Ponce, bringing AI-enabled document processing, route optimization, object recognition, remote operations, computer vision, and more to the island. These technologies can be utilized across Puerto Rico and exported into new and emerging ports across the globe.
“I welcome Scale AI’s investment in Puerto Rico, which will continue to build on our Island’s competitive business climate and focus on logistics and research and development,” states the Governor of Puerto Rico, Pedro R. Pierluisi. “As my Administration promotes the strategic potential of the Port of Ponce and its infrastructure renovation, the integration of digital and artificial intelligence solutions will be key for the creation of jobs and economic development in the south of Puerto Rico.”
Scale’s Smart Port Lab is an opportunity to partner with local Ponce officials to increase port activity and aid in the economic revitalization of greater Puerto Rico. The Port of Ponce was recently hit by a series of natural disasters including the 2020 earthquakes, Hurricane Maria, and most recently, Hurricane Fiona. The economic impact of these disasters has been significant. H. Calero, a Puerto Rican Economic Consulting Firm, assesses the impact to the local economy at $139 billion, potentially up to $159 billion.
"I am thrilled to welcome Scale AI to Puerto Rico. This investment of $2 million represents a groundbreaking opportunity to innovate and transform the Port of Ponce from a FEMA disaster site, to a world class Smart Port Lab. I look forward to this successful partnership,” said Congresswoman Jenniffer González-Colón.
The Smart Port Lab will generate jobs in the Ponce area that will help members of the community advance their careers and earning potential, with plans to expand the facility and increase hiring in the coming year. Scale’s investment will enhance operational processes at the port and modernize shipping and transportation equipment–where innovation has traditionally been stagnant. This includes unifying siloed shipping and port data, developing AI-enabled, remote ship-to-shore operation capabilities, and enabling the digital tracking of assets in and around the port, equipping terminal operators with complete visibility of their shipping logistics and supply chain networks from the comfort of a command center.
"The Smart Port Lab from Scale AI is poised to be a game-changer for economic development in Puerto Rico. This initiative will help Ponce become a critical hub for inbound and outbound logistics by creating a cutting-edge AI-enabled facility, enhancing Puerto Rico’s competitiveness and ability to attract more business and investment to the region. State-of-the-art technologies such as this one will further position the island as a global logistics leader,” said Ella Woger-Nieves, CEO of Invest Puerto Rico.
The Smart Port Lab builds on Scale’s commercial success in the logistics, supply chain and transportation industries. “Scale supports the world’s most ambitious AI projects, and Scale’s Smart Port Lab in Ponce is no exception,” said Michael Kratsios, Managing Director at Scale AI. “We are thrilled to partner with the Ponce Port Authority to build a first-of-its-kind, world class Smart Port Lab.”
About Scale AI
Scale accelerates the development of AI within organizations of any size to deliver critical business insights and operational efficiency. Its data-centric infrastructure platform leverages RLHF (Reinforced Learning with Human Feedback) to help organizations build the strongest AI models, enabling any company to deploy algorithms that supercharge their business. Scale is trusted by the most ambitious AI companies across industries including Meta, Microsoft, U.S. Army, DoD’s Defense Innovation Unit, Open AI, General Motors, Toyota Research Institute, Brex, Instacart and Flexport. Scale was founded in 2016 and is valued at $7.3 billion, backed by Founders Fund, Accel, Index, and Tiger Global.
Anna Franko
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Daniels is taking a deliberate and immediate approach in pushing industry standards, beginning with Daniels MPV2, Brampton’s largest low-carbon master-planned community
TORONTO--(BUSINESS WIRE)--The Daniels Corporation (“Daniels”), one of Canada's pre-eminent builders and developers, today unveiled its sustainability framework entitled, Daniels’ Decarbonization Roadmap. With a history of going beyond mandated minimum requirements to ensure more accessible and affordable communities, Daniels is now setting a new standard for low-carbon development. The roadmap outlines Daniels’ clear action plan for its next two development cycles, setting the path to becoming the leading low-carbon builder and developer in the Greater Toronto Area (GTA).
The roadmap states the company’s goal of reaching Near-Zero Whole Life Carbon for all new communities starting development in 2026. The roadmap discloses a baseline level of performance, targets for maximum carbon emissions intensity, and a series of decarbonization tactics to be implemented to meet them. Daniels has already begun implementing these measures in their latest community, Daniels MPV2, Brampton’s largest low-carbon master-planned community.
To commemorate the unveiling, Daniels was joined by Brampton Mayor, Patrick Brown, alongside leaders in the energy, construction and finance sectors at the MPV2 Presentation Centre, for a discussion on decarbonizing real estate in the GTA and beyond.
“Our Decarbonization Roadmap was developed as a direct response to the climate emergency that looms over us all,” said Adam Molson, Vice President of Rental Communities and Sustainability at The Daniels Corporation. “The real estate development industry is responsible for 58 per cent of Toronto’s greenhouse gas emissions1. This is a fact we can’t ignore. We take our role as a trusted leader in our industry seriously as we build communities for people today, and generations to follow. This roadmap is a demonstration of our commitment to lead on decarbonizing the production of new real estate and establishes an ambitious and achievable pathway where we will track and disclose our progress towards delivering solutions for climate responsible housing. We are calling upon other leaders in the industry to join us in taking bold steps to rapidly decarbonize their business.”
Daniels’ Decarbonization Measures
Daniels’ target of Near-Zero Whole Life carbon represents a transformational level of change within the industry and is a key milestone towards a carbon-neutral future. The Decarbonization Roadmap illustrates the innovative practices Daniels has already actively begun implementing within its communities, including:
Unveiling Brampton’s Largest Low-Carbon Master-Planned Community
At today’s Decarbonization Roadmap announcement, Daniels also unveiled the first phase of their 19-acre, low-carbon master-planned community, located in Brampton’s Mount Pleasant Village. Daniels MPV2 (MPV2) represents the first generation of Daniels’ Decarbonization Roadmap coming to fruition. With construction already underway, this revolutionary community will feature condominium suites utilizing geoexchange, an energy-efficient system that uses the Earth as a thermal battery to provide low-carbon heating and cooling. The community will also include net zero, fossil fuel-free townhomes utilizing all-electric systems including rooftop solar panels that generate renewable energy. MPV2 will not only be a landmark community that provides homeowners the ability to ‘future-proof’ their homes but will also deliver emission reductions of 40 per cent compared to Daniels’ baseline performance2, exemplifying the company’s proactive approach to the climate crisis by building sustainably, ahead of policy requirements.
“As one of the fastest-growing cities in Canada, the City of Brampton is committed to becoming more healthy, resilient and environmentally sustainable,” said Brampton Mayor, Patrick Brown. “Brampton is a leader in sustainability, and the Daniels MPV2 community is an excellent example of how we are enhancing our city with measurable environmental benefits that will have a lasting positive impact. We look forward to welcoming future residents to Brampton’s largest low-carbon master-planned community.”
“At Daniels, we have spent nearly four decades building a legacy of impact through real estate development with investments in community development, affordable housing, food security, arts, culture, and accessibility that put people first,” said Jake Cohen, Chief Operating Officer of The Daniels Corporation. “When it comes to the environmental impact of our communities, we stand behind the fact that we do not want to be part of the problem, we need to be the solution. We are driven by a vision to build a healthy future for all. By prioritizing decarbonization, we are building sustainable, resilient communities, which will take us closer to mitigating climate change.”
Participation from Canada’s energy, construction and finance players in the MPV2 project
During today’s event, several Canadian partners in the energy, construction and finance sectors came together to commemorate the MPV2 community and Daniels’ sustainability efforts. Endorsers include Enwave Energy Corporation (Enwave) and Lafarge.
As the leading core-competency district energy operator in North America, Enwave is partnering with Daniels to implement reliable and sustainable energy solutions on site at MPV2, including geoexchange.
In addition, Lafarge, Canada’s largest provider of sustainable and innovative building solutions including cement, concrete and asphalt has partnered with Daniels to incorporate its next generation low-carbon concrete products throughout its portfolio.
The MPV2 community is being financed with a Green Loan from RBC under the bank’s Sustainable Finance Framework, aligning with the Green Loan Principles (GLPs) published by the Loan Market Association, Asia Pacific Loan Market Association, and Loan Syndications and Trading Association. Green Loans offer financing to businesses for a broad range of green projects that are intended to achieve environmental benefits, including but not limited to initiatives that help clients reduce their emissions, address natural resources depletion, loss of biodiversity, and air, water and soil pollution.
“Enwave is pleased to partner with The Daniels Corporation on providing low-carbon, sustainable heating and cooling solutions to the MPV2 community using our Enwave GeoCommunities platform to provide energy-efficient geoexchange technology,” said Carlyle Coutinho, CEO of Enwave Energy Corporation. “With a shared vision of significantly reducing carbon emissions in the built environment, we applaud the multi-phase, data-driven approach to decarbonization announced in Daniels’ Decarbonization Roadmap. Through our partnership, Enwave GeoCommunities provides leading design and implementation of geoexchange solutions, enabling our ongoing collaboration to pave the way for further innovative, impactful, and scalable solutions and the development of low-carbon, resilient, and healthy communities.”
“We’re excited to be supporting Daniels’ innovative MPV2 initiative, as we continue our efforts to support Canadian businesses in their transition towards net-zero. Addressing climate change requires all of us – including business, governments, regulators, finance and individuals – to contribute solutions on the pathway to net-zero,” said Sean Amato-Gauci, Executive Vice President, Business Financial Services, RBC. “We believe that partnering with our clients to accelerate progress on their climate strategies is critical to these collective efforts and that’s why it’s a key element of our climate strategy.”
“At Lafarge Canada, we are on a Net-Zero journey and are excited about the critical role we can play in decarbonizing the building industry,” said Lara Yousif, Product Development Manager, Lafarge Eastern Canada. “But we cannot do it alone, we need leading construction partners like The Daniels Corporation. By using our ECOPact low-carbon concrete, collectively we will lower CO2 emissions significantly compared to standard concrete with no compromise in performance. Through this partnership delivering low-carbon construction solutions to the City of Brampton we can build progress for people and the planet.”
To learn more about Daniels’ Decarbonization Roadmap, please visit www.danielshomes.ca/sustainability.
To access photos from the launch event, please click here.
About The Daniels Corporation
The Daniels Corporation (www.danielshomes.ca) is one of Canada's pre-eminent builders/developers, building more than 35,000 new homes across the Greater Toronto Area for over 39 years. Daniels is the developer of TIFF Bell Lightbox in Toronto’s Entertainment District and the City of the Arts community on Toronto’s East Bayfront. Among its many initiatives, Daniels partnered with Toronto Community Housing to revitalize 53 of the 69-acre Regent Park community in Toronto. At the core of the revitalization is both a physical and social re-connection of this once stigmatized neighbourhood to the broader City of Toronto. Today, Regent Park is the global hub of Sustainable Development Goals and home to the World Urban Pavilion – Powered by Daniels, a collaborative initiative between the Urban Economy Forum, UN-Habitat, Canada Mortgage and Housing Corporation and The Daniels Corporation. Understanding that quality of life is created by much more than physical buildings, Daniels goes above and beyond to integrate building excellence with opportunities for social, cultural, and economic well-being.
1 Per the City of Toronto’s Net Zero Existing Buildings Strategy, https://www.toronto.ca/legdocs/mmis/2021/ie/bgrd/backgroundfile-168402.pdf
2 As per Daniels Emissions Baseline, details can be found in Daniels’ Decarbonization Roadmap. Carbon emissions intensities are projections based on energy and lifecycle assessment modeling of Daniels communities during design.
For more information or to request an interview:
Ema Asler
Kaiser & Partners
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STAMFORD, Conn.--(BUSINESS WIRE)--Altus Power, Inc. (“Altus Power” or the “Company”) (NYSE: AMPS), the premier independent developer, owner and operator of commercial-scale solar facilities, today announced that it closed on the acquisition of approximately 220 megawatts (MW) of solar assets, including 207 MW of operating assets and 13 MW of assets under construction. These assets were purchased from True Green Capital Fund III, L.P. under definitive agreements that were previously announced on December 27th, 2022.
The base purchase price of approximately $293 million was financed partially with debt secured from a $204 million long-term funding facility led by Blackstone Structured Finance at a fixed interest rate of 5.62% and the remainder from cash on hand. The interest rate on the debt is fixed for the term of the facility, and Altus Power additionally has the option to refinance the debt without penalty after 3 years.
“We’re pleased to further expand our relationship with Blackstone as the lender for this new portfolio of assets,” commented Gregg Felton, Co-CEO of Altus Power. “Blackstone has a depth of financing experience across a diversity of asset classes and shares our enthusiasm for commercial-scale solar.”
“This portfolio of long-term contracted assets provides a tremendous opportunity for Blackstone to create high quality long-duration investments with attractive risk-adjusted returns for our growing insurance franchise,” said Robert Camacho, Co-Head of Asset Based Finance within Blackstone’s Structured Finance Group.
Growing Community Solar Customer Base
With the addition of these new assets, Altus Power’s portfolio with community solar customers account for over 20% of the Company’s installed megawatts with an additional approximately seventy megawatts in advanced stages of development in New Jersey, Maryland, New York, and Hawaii which will also be dedicated to community solar programs. Community solar allows a rapidly growing universe of residential customers to enjoy the benefits of solar generation without installing any equipment on their properties. While Altus Power expects most of its assets will continue to serve commercial, industrial and municipal customers, the growing popularity of community solar programs is expanding the customer base for commercial-scale solar arrays.
Increased Presence in New York State
Altus Power is pleased that New York has joined Massachusetts, New Jersey and California as one of the Company’s largest markets, with each now representing more than 100 megawatts of operating solar. Assets are located across New York and include the Zerega project located on the rooftop of a self-storage facility in Bronx County, NY, which the Company recently highlighted as a beneficiary of the Community Solar Employee Participation program offered to employees of both CBRE and Blackstone.
About Altus Power, Inc.
Altus Power, based in Stamford, Connecticut, is the premier commercial-scale clean electrification company serving commercial, industrial, public sector and community solar customers with an end-to-end solution. Altus Power originates, develops, owns and operates locally sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.
Altus Power:
Chris Shelton
Head of IR
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Fastest-growing solar software platform incorporates in Ontario to keep pace with hiring and ambitious plans for growth
SAN FRANCISCO--(BUSINESS WIRE)--#SaaS--Aurora Solar, a cloud-based platform creating a future of solar for all by powering industry professionals to make solar simple and predictable, today announced it incorporated in Ontario with dedicated Engineering, Product, and Design teams to help scale the company to its next phase of growth. Valued at over $4 billion with more than $500 million in funding, Aurora Solar’s team of 500 and growing is proud to power upwards of 100,000 solar projects every week, with 90 percent of the top 100 US residential solar installers counting on Aurora’s AI-powered software to help meet the rapid demand for solar energy.
“We are thrilled to announce Aurora’s incorporation in Canada,” said Chris Hopper, co-founder and CEO, Aurora Solar. “Canada's work in the renewable energy sector combined with its experienced and skilled pool of SaaS talent make it an ideal location for Aurora Solar as we expand our footprint. Our Canadian presence highlights our commitment to creating a future of solar for all, and we look forward to furthering our mission with support from Canadian colleagues.”
Globalizing and Scaling Technology That Combats Climate Change
Building on an already strong foundation, Aurora Solar is proud to:
“Aurora Solar's Canadian launch marks a long-term investment in Canada, offering remote-first flexibility, and a collaborative, inclusive environment enjoyed by all Aurorans as we unite on our mission to build a sustainable future,” said Thusha Agampodi, Director of Engineering, Aurora Solar. “As a resident of Ontario, I’m incredibly proud and excited to continue building on our team’s momentum here, leveraging the diverse talent pool across Canada.”
Aurora Solar is now hiring for remote positions in Canada across Product, Design, Engineering, and more. For more information, see our careers page here.
About Aurora Solar
Aurora is creating a future of solar for all. The company is putting the power of data and technology into the hands of every solar professional to make solar adoption simple and predictable. The cloud-based platform uses data, automation, and AI to streamline workflows and grow solar businesses faster. More than 7,000 of the industry's top organizations rely on Aurora and over 10 million solar projects have been designed with the platform globally. The San Francisco-based company was the only climate tech business named to the 2022 Forbes AI 50, was listed on the 2022 Deloitte Fast 500, and voted the best solar software by Solar Power World in 2021. For more information, visit www.aurorasolar.com and follow on Twitter @AuroraSolarInc.
Karen DeVincent-Reinbold
PR & communications director
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MONTERREY, Mexico & ALBUQUERQUE, N.M. & LUGANO, Switzerland--(BUSINESS WIRE)--#SandiaLabs--CEMEX, S.A.B. de C.V. ("CEMEX") announced today that the U.S. Department of Energy awarded US$3.2 million to Solar MEAD, a joint project headed by CEMEX, Sandia National Laboratories, and Synhelion, which aims to decarbonize cement production.
Solar MEAD aims to replace the use of fossil fuels with concentrated solar thermal (“CST”) energy in clinker production, the key component in cement. CEMEX and Synhelion have been collaborating to introduce CST in the cement production process, achieving the first successful laboratory-scale demonstrative pilot in 2022 by producing the first-ever solar clinker. Sandia Laboratories will contribute unique research facilities as part of the National Solar Thermal Test Facility, and subject matter expertise to help accelerate the adaptation of the technology to cement manufacturing.
Synhelion's breakthrough technology delivers high-temperature process heat beyond 1,500 degrees Celsius – sufficient heat to produce clinker without using fossil fuels.
"Cement produced with solar energy is an exciting technology with tremendous potential to reduce the carbon footprint of cement production," said Fernando A. González, CEO of CEMEX. "Achieving our net zero carbon goal by 2050 will require relentless innovation such as this to discover and scale breakthrough technologies."
"Few renewable technologies are capable of generating heat at the temperatures needed to process raw cement feedstock," said Nathan Schroeder, Sandia researcher and principal investigator for the Solar MEAD project. "This project will advance our understanding of how to use concentrating solar technology to gather and deliver the heat to existing cement production facilities and will have crosscutting relevance to other ore processing industries such as refractory, ceramics, and battery production."
Gianluca Ambrosetti, CEO and Co-Founder of Synhelion, added: "The project offers us the opportunity to use our sustainable technology to support the decarbonization of energy-intensive cement clinker production. This solution can have a huge impact on the industry and will help to pave the way towards net-zero. We are proud of contributing to this goal."
The project will investigate methods to reduce carbon dioxide emissions, lower process temperatures, and increase the efficiency of clinker formation using solar energy. The team will assess the conditions to maximize heat transfer to the raw cement mix.
Successful adoption of this technology in cement manufacturing will not only allow for 100% replacement of fossil fuels but also result in a more efficient and lower-cost carbon capture process when compared to the current state-of-the-art technologies.
Clinker is produced by fusing limestone, clay, and other materials in a rotary kiln at temperatures nearing 1,500°C. Fossil fuels are typically used to heat the kiln and are responsible for approximately 40% of the direct CO2 emissions of the process. Replacing fossil fuels entirely with solar energy is a game-changer in the industry's efforts to achieve carbon neutrality.
About Sandia National Laboratories
Sandia National Laboratories is a multimission laboratory operated by National Technology and Engineering Solutions of Sandia LLC, a wholly owned subsidiary of Honeywell International Inc., for the U.S. Department of Energy’s National Nuclear Security Administration. Sandia Labs has major research and development responsibilities in nuclear deterrence, global security, defense, energy technologies and economic competitiveness, with main facilities in Albuquerque, New Mexico, and Livermore, California.
About Synhelion
Synhelion is a global pioneer in the field of carbon-neutral solar fuels. The clean energy company evolved from the Swiss Federal Institute of Technology (ETH Zurich) in 2016 to decarbonize the transportation sector. Synhelion is currently building its first industrial solar fuel plant in Germany. The first commercial production facility is planned for commissioning in Spain by 2025. Synhelion is the first company to sustainably generate process heat beyond 1,500°C with concentrated solar radiation. This makes it possible to drive industrial processes such as fuel production and cement manufacturing with solar heat for the first time. The company provides the world with cutting-edge technology to help solve the climate crisis and works with international partners such as Eni, CEMEX, Lufthansa Group, Swiss International Air Lines, SMS group, Wood, AMAG Group, and Zurich Airport. For more information, please visit: synhelion.com
About CEMEX
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com
This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from CEMEX’s expectations, including, among others, risks, uncertainties, and assumptions discussed in CEMEX's most recent annual report and detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission, which factors are incorporated herein by reference, which if materialized could ultimately lead to CEMEX, including the project referred herein, not producing the expected benefits and/or results. These factors may be revised or supplemented, but CEMEX is not under and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events, or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release, nor for any quote from any third-party contained herein.
Sandia contact
Mollie Rappe
+1 (505) 228-6123
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CEMEX Media Relations
Jorge Pérez
+52 (81) 8259-6666
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Synhelion Media Relations
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The partnership will accelerate Gridmatic’s growth in the ERCOT market
CUPERTINO, Calif.--(BUSINESS WIRE)--Gridmatic, the industry-leading AI-enabled power marketer, announced today a two-year partnership with AVANGRID, a leading sustainable energy company and the third largest wind energy generator in the United States. The agreement is to purchase 15 megawatts (MW) of zero-emission energy from AVANGRID’s 120 MW Barton Chapel wind project in Jacksboro, Texas. Gridmatic will use the offtake to supply its retail customers with clean and affordable wind energy. The agreement runs from January 1st, 2023 until December 31st, 2024.
“With the launch of our new retail business, Gridmatic Retail, we are delivering advanced clean energy products to support businesses with both complex needs and the desire to fulfill climate goals,” said Matt Wytock, CEO and Founder of Gridmatic. “Partnering with companies like AVANGRID enables us to support our customers’ load with clean, renewable generation while accelerating the transition to 24/7 Carbon-free Energy.”
Gridmatic launched its retail business in January to provide customers with standard and advanced energy products, including time-matched, 24/7 Carbon-free Energy, and load variability contracts. Leveraging industry-leading AI-driven models, Gridmatic matches unique consumption profiles to clean energy generation to help businesses meet carbon reduction targets and lower energy costs.
“We are thrilled to be partners with companies like Gridmatic who, like us at AVANGRID, are committed to taking the steps needed to advance towards a cleaner, more sustainable economy and boost the energy transition in the country,” said Brian Faist, VP of Renewable Origination at AVANGRID. “With this partnership, along with our six other wind farms in the state, we are delivering over 1,200 MW of clean energy to the power industry and businesses throughout Texas.”
About Gridmatic
Unlike traditional power marketers, Gridmatic uses AI to optimize renewable energy participation in wholesale markets by forecasting energy supply, demand and pricing. Leveraging market-proven algorithms, Gridmatic is able to provide stability, predictability and automation for energy buyers, sellers, and storage owners amid increasing volatility. With Gridmatic Retail, the company offers advanced solutions for businesses with complex energy needs to hit carbon reduction goals, including time matched, variable load and carbon-free energy products. With its industry-leading AI, Gridmatic is working to accelerate the transition to net zero and balance the renewable-powered grid. For more, visit https://www.gridmatic.com.
About AVANGRID: AVANGRID, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $40 billion in assets and operations in 24 U.S. states, AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Avangrid Renewables owns and operates a portfolio of renewable energy generation facilities across the United States. AVANGRID employs more than 7,000 people and has been recognized by JUST Capital in 2021, 2022 and 2023 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2023, AVANGRID ranked first within the utility sector for its commitment to the environment. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2022 for the fourth consecutive year by the Ethisphere Institute. AVANGRID is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.
For Gridmatic:
Antonio Hicks
206-724-6789
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The first “Regional to Global” conference was organized in Punta del Este to discuss the role of Latin America in the world energy agenda.
PUNTA DEL ESTE, Uruguay--(BUSINESS WIRE)--The Global Energy Association held the first ever “Regional to Global” conference in Latin America. The event was held at the crossroads of the MERCOSUR integration association (Argentina, Brazil, Paraguay, Uruguay) in the Uruguayan city of Punta del Este and was dedicated to the role of Latin America in world energy and the prospects of using clean energy sources in the region.
Alfonso Blanco, the Executive Secretary of the Latin American Energy Organization (OLADE), Fitzgerald Cantero, the National Director for Energy in the Uruguay Ministry of Industry, Energy and Mining, and Vadim Titov, the President of Rusatom – International Network, participated in the first session called “Latin America in World Energy Agenda.”
In his speech, Alfonso Blanco mentioned the current state of affairs and the development prospects of the energy sector in Latin America in the context of the global supply crisis. “The energy programs of our countries should be aimed both at passing the energy transition and diversifying energy sources and promoting socio-economic development and improving the living standards of the citizens of our countries,” he said.
Latin America will demonstrate a growing demand for energy sources
The second session was dedicated to the challenges of clean energy availability in the region and nuclear energy development in Latin America. It was moderated by Lorena Di Chiara, a research fellow from Energy and Sustainable Development Observatory at the Catholic University (Uruguay). The discussion engaged the following distinguished figures: Kaushik Rajashekara (University of Houston); Ruben Chaer (Uruguay’s Electricity Market Administration); Gonzalo Casaravilla (National Department of Power Plants and Electricity Transmission of Uruguay); Ivan Dybov (Nuclear Industry Development), and William Byun (Asia Renewables).
Overall, the conference showed that in the coming years, Latin America would demonstrate a growing demand for energy sources that combine low emissions and security of energy supply, including nuclear generation, as well as solar, wind, and hydropower. This applies both to the most densely populated agglomerations of the region, which are increasing energy demand due to economic growth, and to remote areas that need uninterrupted power supply while isolated from the public grid.
Gabriela Casulo
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Guzman Energy will offtake 100% of renewable power generated by Sonnedix Solar Fountain in El Paso County, CO
DENVER--(BUSINESS WIRE)--Guzman Energy and Sonnedix, the international renewable energy producer, today announced the execution of a power purchase agreement (PPA) for the 110 MW Sonnedix Solar Fountain project. The solar power generation site is planned for development and is expected to be operational in early 2025.
When complete, the solar photovoltaic (PV) plant is expected to generate approximately 312,670MWh during its first year of operation. This is the equivalent of energy required to power over 36,000 homes, avoiding the emission of more than 162,000 metric tons of CO2 annually.
Sonnedix will develop, build, operate, and maintain the solar facility as the project sponsor. As an off-taker, Guzman Energy will purchase 100% of the power generated by Sonnedix Solar Fountain for its power portfolio, which is used to serve current and future Guzman Energy wholesale customer power loads.
“Sonnedix Solar Fountain is a great strategic fit for the Guzman Energy power portfolio as we look to build and purchase power generation with the right economic and environmental characteristics,” said Guzman Energy CEO Christopher Miller. “Guzman Energy wholesale power customers look to us for affordable and stable power pricing, reliability, and clean energy. Sonnedix Solar Fountain fits the bill and we’re thrilled to partner with Sonnedix to make it happen.”
The solar project is expected to generate about 300 jobs for local workers during the construction and operation phases.
“We are ecstatic to have this opportunity with Guzman Energy to expand in Colorado – a state with a track record and policies strongly supporting renewable energy,” stated Carlos Guinand, Co-founder, and Executive Chairman of Sonnedix. “I feel proud that this partnership paves the way for Sonnedix to contribute to Colorado’s goal of 100% green energy generation by 2040.”
About Guzman Energy
Guzman Energy is a wholesale power provider dedicated to communities in search of affordable and reliable energy. We partner with cooperatives, municipalities, companies and tribes across North America to customize energy portfolios that make economic and environmental sense for today and tomorrow. Together, we are lighting the way forward. To learn more, visit www.GuzmanEnergy.com.
About Sonnedix
Sonnedix is an international Renewable Energy Producer (REP) with over a decade-long trajectory of sustainable growth. Sonnedix develops, builds, and operates renewable energy projects for the long-term, with a focus on providing green, affordable electricity to our customers, and acting as a true social citizen there where it operates.
Sonnedix currently has a total capacity of over 9GW, including a development pipeline of almost 7GW, across Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, the USA, and the UK. The company continues to expand its global footprint across OECD countries, through acquisitions and development of renewable energy projects.
Guzman Energy
Amy Messenger
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Sonnedix
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www.sonnedix.com
MIAMI--(BUSINESS WIRE)--The Yamaha Marine U.S. Business Unit announced a collaborative initiative for biofuel testing, introduced new marine products and addressed future plans for growth and expansion during the 2023 Miami International Boat Show®.
“Innovation is the driving force behind all of the initiatives currently underway at Yamaha,” said Ben Speciale, President, Yamaha U.S. Marine Business Unit. “From collaborative biofuel testing with NMMA® to the expansion of our Marine Innovation Center and introduction of new marine products, Yamaha continues to deliver the experiences customers want on the water, while simultaneously protecting the environment that creates those experiences.”
Carbon Neutrality
On February 15, the National Marine Manufacturers Association®, Yamaha U.S. Marine Business Unit and other industry partners highlighted the advancement and availability of multiple Sustainable Marine Fuels, which significantly reduce CO2 emissions while maintaining boat range and performance. The event demonstrated drop‐in fuels that can remain compatible with all existing recreational boats, requiring no changes to the boat fuel system or engine. Participation in the event underscores a current significant focus of Yamaha Rightwaters™ to achieve carbon neutrality quickly within Yamaha products using biofuels as a viable option in certain marine applications.
“There are currently 12 million existing boats in the market,” said Speciale. ”The option of using biofuel within these vessels paves a path to carbon neutrality within product already on the water.”
Facility Expansion
In 2022, the Yamaha U.S. Marine Business Unit announced plans for an all-new 75,280 square-foot Marine Innovation Center near Yamaha Marine’s headquarters in Kennesaw, Georgia. Now complete, the “MIC” houses the Yamaha Marine Connected Division as well as the U.S. Marine Development and Product Planning and Introduction Division. The Yamaha Marine Connected Division includes business planning, user experience, IoT/Cloud Infrastructure, product planning, data analysis, sales and marketing positions. The Yamaha U.S. Marine Development and Planning Division includes control engineers, perception engineers, product development engineers, project managers, hydrodynamics engineers and various software engineers.
Yamaha also completed the expansion of its test facility in Bridgeport, Alabama, adding 5,900 square feet of office space and 8,000 square feet of boat storage. The test facility is currently hiring testing technicians and system engineers.
New Products
XTO Offshore 450, F200 and F150 Integrated Steering Models, New Helm Master EX Features
Announced in January 2023, Yamaha will debut a new XTO Offshore® 450 model, new F200 and F150 integrated steering models and new Helm Master® EX features on the docks during the 2023 Miami International Boat Show®. The XTO 450 allows boaters to enjoy the convenience and ease of operation associated with the XTO line – in addition to more torque and power. Yamaha’s F200 and F150 DEC and Mechanical outboards now feature integrated electro-hydraulic steering for the 2.8L DEC models and integrated hydraulic steering for the 2.8L and 2.7L mechanical models. Helm Master EX also gets new features that take boat control to a new level in 2023.
Siren Trident
The teams within the Yamaha Marine Innovation Center focus on CASE product development. Representing the future of Yamaha and a foundation for product, facility and personnel evolution, CASE stands for Connected, Autonomous, Shared Services and Electrification. Yamaha’s acquisition of Siren Marine in late 2021 and the subsequent creation of the Connected Division were strategic decisions underscoring CASE.
During the 2023 Miami International Boat Show®, Siren Marine and the Yamaha Connected Division will introduce the first collaborative CASE product, Siren Trident. An industry-first IoT software for marine engine maintenance and system compatibility that offers substantial benefits to Yamaha customers, dealers and boat builders, Siren Trident provides customers and dealers with:
Grady-White, Inc. and Regulator Marine, Inc. will become the first two Siren Marine pilot boat builders, offering Siren Trident as standard equipment on select 2024 model year boats.
DockPoint™
Finally, Yamaha announced plans to introduce DockPoint™ to the market in 2024. The first official product produced through the Yamaha Marine Innovation Center, DockPoint is the newest feature of Helm Master EX Full Maneuverability which automatically docks a properly equipped boat at the touch of a finger.
Using minimal additional hardware, a Yamaha Multi-function Display Interface (MFDI) and a Garmin® MFD, Yamaha can now make a multi-engine, Helm Master EX-equipped boat with a clear view of the sky approach any one of up to 100 user-defined slips, correctly orient the boat according to the desired direction input by the operator and position itself in that slip automatically according to the operator’s pre-selected setting. Additionally, boaters can set the system to automatically select manual control or Full Maneuverability Joystick mode once in the slip, where the operator can then command the boat for fashioning to the dock.
Click here for a short video demonstrating DockPoint.
Yamaha U.S. Marine Business Unit, based in Kennesaw, Ga., markets and sells marine outboard motors ranging in size from 2.5 to 450 horsepower. It also markets and sells fiberglass, jet-drive sport boats ranging from 19 to 27 feet, and personal watercraft. The unit includes manufacturing divisions of Yamaha Marine Systems Co., Inc., including Kracor of Milwaukee (rotational molding), Bennett Marine of Deerfield Beach, Fla. (trim tabs), Siren Marine of Newport, RI (Connected Boat) and Yamaha Marine Precision Propellers of Indianapolis (stainless steel propellers). Yamaha Marine Group is a division of Yamaha Motor Corporation, U.S.A., based in Cypress, Calif.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement. Siren Marine is a registered trademark of Siren Marine, LLC.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2023 Yamaha Motor Corporation, U.S.A. All rights reserved.
Nicholas Genesi
Public Relations Manager
Yamaha U.S. Marine Business Unit
Mobile: (470) 898-7278
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Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
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LAFAYETTE, La.--(BUSINESS WIRE)--#PPA--McDonald’s Corporation and Lightsource bp today announced a power purchase agreement for a 145 MWac / 180 MWdc solar project located in St. Landry Parish, La. The Prairie Ronde Solar project will generate an expected average of approximately 327,000 megawatt-hours (MWh) of renewable energy annually, equivalent to the average annual electricity consumption of 30,700 US homes once complete. The deal helps advances McDonald’s commitment to climate action and its sustainability goals, while expanding Lightsource bp’s footprint of solar assets across the Southeast.
“Growing our partnership with Lightsource bp reaffirms our commitment to building a more sustainable McDonald’s system at a meaningful scale,” said Elaine Strunk, Sr. Director Global Sustainability, McDonald’s. “Prairie Ronde Solar will contribute to our climate aspirations while adding a considerable amount of new renewable generation to the grid.”
Lightsource bp will finance, build, own and operate the facility located about 25 miles north of Lafayette. McDonald’s will purchase all the solar energy the project generates, equivalent to approximately 630 restaurants’ worth of renewable electricity annually. Construction of the project is expected to begin in early 2023, with commercial operation starting in late 2024.
"This deal marks McDonald’s second solar project in Louisiana in partnership with Lightsource bp, bringing our statewide total of solar assets to 525 megawatts representing a cumulative half billion-dollar private investment,” said Kevin Smith, CEO, Lightsource bp, Americas. “McDonald’s is a great example of a corporate buyer whose commitment to sustainability is driving massive investment in new clean energy infrastructure for America’s energy security and clean energy future.”
Local economic benefits beyond reducing greenhouse gas pollution
In addition to improving the health and energy security of communities across America, large-scale solar projects like Prairie Ronde Solar help strengthen local economies. Construction of the $170 million+ privately funded solar farm will:
About Lightsource bp
Lightsource bp is a global leader in the development and management of solar energy and energy storage projects and a 50:50 joint venture with bp. For more than a decade, Lightsource bp has delivered affordable, safe and sustainable energy to businesses and communities around the world. Their global team includes nearly 1,000 industry experts, working in 19 countries, providing full scope development for projects, from initial site selection, financing and permitting to long-term management of solar projects and energy sales to their customers. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, and Philadelphia. Since 2019, the team has brought into operation or initiated construction on 3.2 gigawatts of U.S solar projects with capital costs of nearly $4 billion across 11 states. For more information visit www.lightsourcebp.com/us.
About McDonald’s
McDonald's is the world's leading global foodservice retailer with over 40,000 locations in over 100 countries. Approximately 95% of McDonald's restaurants worldwide are owned and operated by independent local business owners. McDonald's purpose is to feed and foster communities and the Company is committed to helping protect the planet for communities today, and in the future. In partnership with its Franchisees, suppliers and producers, the Company is finding innovative ways to reduce emissions, keep waste out of nature and preserve natural resources. Explore how McDonald's is helping drive positive impact and making progress on its ESG priorities.
Media contact:
Mary Grikas
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SAN JOSE, Calif.--(BUSINESS WIRE)--Sakuu Corporation (“Sakuu”), a transformative additive manufacturing and solid-state battery company, and inventor of the disruptive Kavian™ platform solution for the commercial-scale production of next-generation SwiftPrint™ batteries and other complex active devices, announces that since December 2022 it has successfully and consistently 3D printed fully functional performant batteries in custom shapes and sizes. These batteries were printed as patterned cells containing patterned openings for thermal management, in a fully dry process, at Sakuu’s Silicon Valley battery pilot line facility.
This marks a first-of-its-kind recorded manufacturing achievement and is an important step towards Sakuu’s planned commercial-scale production of next-generation SwiftPrint™ batteries, including solid-state batteries, from its Kavian™ platform in gigafactories worldwide.
Karl Littau, Chief Technology Officer at Sakuu commented: “Our development shows that the Kavian™ platform can enable commercial-scale, sustainable production of a wide range of battery technologies from lithium-ion to lithium metal to even solid-state batteries—whereas traditional methods of advanced cell manufacturing continually run into core impediments that prevent mass-scale production. Further, our printing process can allow for substantial gains in energy density for a completed battery. Finally, our platform can customize the form factor of the battery—whereby the battery itself can become part of product design via customized shapes and sizes. This is a profound moment with enormous implications for advanced battery manufacturing.”
Sakuu has invented a fully industrialized process for printing batteries using a proprietary multi-material, multi-layer approach in a parallel and dry process, instead of slow layer-on-layer printing or screen-printing—inherently wet processes that require significant energy to remove unwanted solvents and are susceptible to poor printing quality and unreliable production. The Sakuu invention can deliver low-cost high-speed manufacturing capability coupled with flexibility in shape and form, while also delivering batteries in core categories that matter most to clients and customers alike. For example, Sakuu’s first printed batteries have demonstrated successful cycling performance at C/5, IC current rates, and expectations are to achieve high energy density at 800–1000 Wh/L.
Utilizing proprietary lithium metal battery chemistry, Sakuu’s printing process starts with raw material and ends with a ready-to-use patterned battery, creating a new paradigm in manufacturing and energy storage. The achievement of patterned battery printing enables a more effective use of battery cell volume with new pathways in thermal dynamic regulation. This allows integration of fixturing, sensors, and thermal transport pathways, as well as regulation through the patterned design—especially when thin sub-cell battery structures are stacked with identical patterned openings for thermal management in alignment.
“We believe we have the only known solution for manufacturing solid-state batteries at scale with our novel Kavian platform. Collectively, our additive manufacturing and battery teams have accomplished what most thought impossible,” said Sakuu Founder and CEO Robert Bagheri. “Printing custom patterned batteries using a dry process that starts with raw material and concludes with a fully functional high-performance battery is a breakthrough that has the potential to transform how batteries of the future are manufactured for all industries. This milestone advances integration between our Kavian platform and our commercial-scale battery production plans towards an energy output goal of 200GWh by 2030 via a network of global partner gigafactories.”
Sakuu’s Kavian™ platform will be sold to other battery manufacturers as well as leading automotive, e-mobility, and aerospace manufacturers. Those seeking to mass-produce batteries can shorten supply chain and gain key cell performance and safety attributes, as well as inherent material and energy savings, and sustainability benefits for maximum product design innovation. In addition, Sakuu plans on licensing its own battery chemistries, both Li-metal and solid-state, to be produced with either traditional roll-to-roll manufacturing or in gigafactories utilizing Kavian™ manufacturing.
About Sakuu
Sakuu is a pioneering manufacturing technology company introducing a disruptive additive manufacturing platform approach for commercial-scale production of batteries and other complex active devices. Initial efforts will focus on energy storage, using our Kavian™ platform to print a range of next-generation batteries—from lithium metal to all-solid-state—that can help reduce society's reliance on fossil fuels. Founded in 2016, Sakuu operates two facilities in Silicon Valley, California, where it is headquartered: a solid-state battery pilot line facility, and an additive manufacturing engineering facility. To learn more about Sakuu’s advancements towards and dedication to a safer, more sustainable electrified future, please visit our website: Sakuu.com.
Pal Hollywood, Sterling Communications
(860) 877-9670
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MIAMI--(BUSINESS WIRE)--During the 2023 Miami International Boat Show®, Siren Marine introduced Siren Trident, an industry-first IoT software for marine engine maintenance and system compatibility that offers substantial benefits to Yamaha customers, dealers and boat builders. In addition, Grady-White and Regulator Marine will become the first two Siren Marine pilot boat builders, offering Trident as standard equipment on select 2024 model year boats.
“The data provided through Siren Trident enhances the overall boating experience and gives customers peace of mind that they can maintain their investment without having to remember maintenance intervals themselves. The teams at Grady-White® and Regulator® know this is what today’s tech-savvy boaters demand,” said Mark Tracy, Vice President, Yamaha U.S. Marine Business Unit. “Siren Trident represents the continuation of the Connected Boat® and advances IoT technology, and we look forward to working with the teams at Grady-White® and Regulator® to put this technology into the hands of more customers.”
Siren Trident captures proprietary data on the Command Link Plus® (CLP) protocol used in most Yamaha digital electronic control (DEC)* outboards. Using that data, Siren Trident provides customers and dealers with:
Operated via a smartphone and Siren Pro 3 system hardware, Siren Trident works specifically with Yamaha DEC outboards from 150 horsepower to 450 horsepower. The system accumulates engine run-time and, when maintenance intervals are reached, automatically sends notifications to the boater via push notification or email . Boaters can also elect to send those notifications directly to an authorized Yamaha Outboards dealer of the boater’s choice to help with proactive scheduling of the service required.
Siren Trident also allows easy verification of compatibility between installed CLP rigging components following assembly, service or repower. This saves time and effort on both the production and service floors, helping ensure a trouble-free ownership experience to the consumer.
For more information, please visit sirenmarine.com.
Yamaha U.S. Marine Business Unit, based in Kennesaw, Ga., markets and sells marine outboard motors ranging in size from 2.5 to 450 horsepower. It also markets and sells fiberglass, jet-drive sport boats ranging from 19 to 27 feet, and personal watercraft. The unit includes manufacturing divisions of Yamaha Marine Systems Co., Inc., including Kracor of Milwaukee (rotational molding), Bennett Marine of Deerfield Beach, Fla. (trim tabs), Siren Marine of Newport, RI (Connected Boat) and Yamaha Marine Precision Propellers of Indianapolis (stainless steel propellers). Yamaha Marine Group is a division of Yamaha Motor Corporation, U.S.A., based in Cypress, Calif.
Based in Newport, Rhode Island, Siren Marine is the industry leader in smart boat technology – allowing boaters to stay connected to their boats anywhere, anytime. The company’s vision is to transform the modern boating experience and lead the way to a fully-connected marine industry through innovative IoT Connected Boat® technology.
*Siren Trident works with most Yamaha DEC outboards using Helm Master® EX controls and legacy Helm Master controls manufactured during or after 2017.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement. Siren Marine is a registered trademark of Siren Marine, LLC.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2023 Yamaha Motor Corporation, U.S.A. All rights reserved.
Nicholas Genesi
Public Relations Manager
Yamaha U.S. Marine Business Unit
Mobile: (470) 898-7278
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Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
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Transaction Provides Shareholders with an 84% Premium to Average Share Price of Last 30 Trading Days
WESTLAKE, Ohio--(BUSINESS WIRE)--TravelCenters of America Inc. (Nasdaq: TA), the nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center brands, today announced that it has entered into a merger agreement with BP p.l.c. (NYSE: BP), pursuant to which BP will acquire all of the outstanding shares of TA common stock for $86.00 per share in cash. The sale price represents an 84% premium to the average trading price of the 30 days ended February 15, 2023 of $46.68. The total equity value is approximately $1.3 billion.
Jonathan M. Pertchik, TA’s Chief Executive Officer, made the following statement:
“Today’s announcement that BP is acquiring TA for $86 per share is a result of the successful implementation of our turnaround and strategic plans. We have improved our core travel center business, expanded our network, launched eTA to prepare for the future of alternative fuels and improved our operating and financial results, none of which we could have accomplished without the hard work and dedication of our employees at every level.”
Today’s announcement is the culmination of a comprehensive process by TA’s Board. Following the implementation of TA’s turnaround plan and several quarters of improved operating performance, TA received unsolicited interest to acquire the Company. In response, TA’s Board hired financial and legal advisors as part of a formal process to consider a potential sale of the Company. This process ultimately included competitive rounds of bidding from potential buyers that resulted in the transaction announced today.
A condition of the sale is the approval by shareholders who own a majority of TA’s shares outstanding. Service Properties Trust (Nasdaq: SVC), which owns 7.8% of TA’s shares outstanding, and The RMR Group (Nasdaq: RMR), which owns 4.1% of TA’s shares outstanding, both have agreed to vote their shares in favor of the sale. At the closing of the transaction, TA will terminate its management agreement with RMR pursuant to the terms of the agreement and pay a termination fee to RMR that is currently estimated to be approximately $44 million. Subject to shareholder and regulatory approval, the parties are targeting closing the acquisition by mid-year 2023.
The transaction was unanimously approved by the TA Board of Directors. Citigroup acted as exclusive financial advisor to TA and Ropes & Gray as TA’s legal advisor in connection with the transaction.
About TravelCenters of America
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its over 18,000 team members serve guests in 281 locations in 44 states, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com.
Additional Information and Where to Find It
This communication may be deemed solicitation material in respect of the proposed acquisition of TravelCenters of America Inc. (“TravelCenters”) by BP Products North America Inc. (“Parent”). This communication does not constitute a solicitation of any vote or approval. In connection with the proposed transaction, TravelCenters plans to file with the U.S. Securities and Exchange Commission (the “SEC”) and mail or otherwise provide to its stockholders a proxy statement regarding the proposed transaction. TravelCenters may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the proxy statement or any other document that may be filed by TravelCenters with the SEC.
BEFORE MAKING ANY VOTING DECISION, TRAVELCENTERS’ STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY WHEN IT BECOMES AVAILABLE AND ANY OTHER DOCUMENTS FILED BY TRAVELCENTERS WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE PROPOSED TRANSACTION BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION.
Any vote in respect of resolutions to be proposed at a TravelCenters stockholder meeting to approve the proposed transaction or related matters, or other responses in relation to the proposed transaction, should be made only on the basis of the information contained in TravelCenters’ proxy statement. Stockholders may obtain a free copy of the proxy statement and other documents TravelCenters files with the SEC (when available) through the website maintained by the SEC at www.sec.gov. TravelCenters makes available free of charge on its investor relations website at investors.ta-petro.com/investors copies of materials it files with, or furnishes to, the SEC.
The proposed transaction will be implemented solely pursuant to the Agreement and Plan of Merger, by and among TravelCenters, Bluestar RTM Inc. and Parent, dated as of February 14, 2023 (the “Merger Agreement”), which contains the full terms and conditions of the proposed transaction.
Participants in the Solicitation
TravelCenters and certain of its directors, executive officers and certain employees and other persons may be deemed to be participants in the solicitation of proxies from TravelCenters’ stockholders in connection with the proposed transaction. Security holders may obtain information regarding the names, affiliations and interests of TravelCenters’ directors and executive officers in TravelCenters’ Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on February 23, 2022, and its definitive proxy statement for the 2022 annual general meeting of stockholders, which was filed with the SEC on April 7, 2022. To the extent the holdings of TravelCenters’ securities by TravelCenters’ directors and executive officers have changed since the amounts set forth in TravelCenters’ proxy statement for its 2022 annual general meeting of stockholders, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Investors may obtain additional information regarding the interests of participants in the solicitation of proxies from TravelCenters’ stockholders in connection with in the proposed transaction, which may, in some cases, be different than those of TravelCenters’ stockholders generally, by reading the proxy statement relating to the proposed transaction when it is filed with the SEC and other materials that may be filed with the SEC in connection with the proposed transaction when they become available. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov and the investor relations page of the TravelCenters’ website at https://investors.ta-petro.com/.
Warning Regarding Forward Looking Statements
This communication contains “forward-looking statements,” including statements containing the words “expect,” “intend,” “plan,” “believe,” “will,” “should,” “would,” “could,” “may,” and words of similar meaning, as well as other words or expressions referencing future events, conditions or circumstances. Statements that describe or relate to Parent’s or TravelCenters’ plans, goals, intentions, strategies, or financial outlook, and statements that do not relate to historical or current fact, are examples of forward-looking statements. Examples of forward-looking statements include, without limitation, the effect of the announcement of the proposed transaction on the ability of TravelCenters to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom TravelCenters does business, or on TravelCenters operating results and business generally; risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the proposed transaction; the outcome of any legal proceedings related to the proposed transaction; the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, including circumstances requiring a party to pay the other party a termination fee pursuant to the Merger Agreement; the ability of the parties to consummate the proposed transaction on a timely basis or at all; the satisfaction of the conditions precedent to consummation of the proposed transaction, including the ability to secure regulatory approvals on the terms expected, at all or in a timely manner; the ability of Parent to implement its plans, forecasts and other expectations with respect to its business after the completion of the proposed transaction and realize expected benefits; business disruption following the proposed transaction. Forward-looking statements are not guarantees of future performance, and there are a number of important factors that could cause actual outcomes and results to differ materially from the results contemplated by such forward-looking statements, including those factors listed in the section entitled “Risk Factors” in Item 1A of TravelCenters’ Annual Report on Form 10-K filed with the SEC on February 23, 2022, and those factors detailed from time to time in TravelCenters’ other SEC reports including quarterly reports on Form 10-Q and current reports on Form 8-K. TravelCenters does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.
Investor Contact:
Stephen Colbert
TravelCenters of America
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Media Contacts:
Tina Arundel
TravelCenters of America
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Andrew Siegel / Jack Kelleher
Joele Frank
212-355-4449
Dedicated to the reliability, security of the bulk power system in the northeast USA and Canada
NEW YORK--(BUSINESS WIRE)--The Northeast Power Coordinating Council, Inc. (NPCC) has appointed seven new members to its board of directors.
“I am pleased to welcome these highly experienced industry leaders to help guide NPCC in its mission to assure a reliable, resilient and secure bulk power system in Northeastern North America,” said Charles Dickerson, President and Chief Executive Officer of NPCC. “As the industry’s generation mix and threat environment continues to change, our board is evolving, bringing new and diverse perspectives to complement those of our existing board members to continue mitigation of reliability risks in a rapidly changing energy industry.”
Peter Brandien is the Vice President, System Operations & Market Administration at ISO-New England. He is responsible for the day-to-day operations of the New England bulk power system and ensuring the fair administration of the region's wholesale electricity markets. This includes the Day-Ahead Energy & Load Response Markets, the Real-Time Energy, Reserve & Regulation Markets, and the Financial Transmission Rights & Forward Reserve Market Auctions, transmission and generation outage coordination, system restoration, operator training, NERC/NPCC compliance, and development of operating procedures.
Robert Brantley is Vice President of Central Engineering at Consolidated Edison Company of New York. He is responsible for delivering industry leading engineering solutions for the electric transmission system, substations, and the steam generation and distribution systems. He has 30 years of experience as a valued leader known for his extensive operational experience and strategic decision-making while balancing safety, reliability, technological advancement and fiscal responsibility.
Alan MacNaughton serves as the Executive Director of System Operations for the New Brunswick Power Corporation where he is responsible for the New Brunswick Power System Operator, which is the Reliability Coordinator for the Maritime Provinces of Canada. He is also responsible for the NB Power Distribution Control Centre, Telecommunications Network Operating Centre, Open Access Transmission Tariff, Integration of Distributed Energy Resources, corporate physical security, and corporate cyber security
Kim Mouton is the Senior Compliance Consultant at Archer Energy Solutions, LLC. She has over thirty (30) years of experience on NERC and FERC Compliance; Strategic Planning; Project Management; along with Engineering, Planning, and Risk Assessment of the electrical transmission system within Vermont. Her responsibilities include reviewing client’s compliance readiness with NERC and regional Operations & Planning (FERC Order 693) Reliability Standards and criteria, compliance documents and procedures to identify gaps with respect to complying with NERC/Regional Entity Reliability Standards and providing independent expert guidance/interpretations.
Robby Sohi is the COO and Vice President, Markets and Reliability of the Ontario IESO. He has more than 30 years of experience in generation, transmission, and distribution. Robby was previously Senior Vice President – Corporate Business Development & Strategy at Ontario Power Generation (OPG) having been appointed to OPG’s Enterprise Leadership Team in September 2020.
Paul Séguin serves as the Senior Vice President, Renewable Generation at Ontario Power generation (OPG). He is accountable for the operation of OPGs hydro, thermal and solar generating facilities, with oversight of the execution of a $250M annual project portfolio. He leads the renewable generation team of over 1,200 professionals.
Carleton Simpson has served as a Commissioner of the New Hampshire Public Utilities Commission since November 2021. He started his career at Unitil as an engineer responsible for developing regulatory compliance programs pertaining to FERC and NERC electric reliability standards. He then served as the company’s Director of Government Affairs and subsequently as in-house legal Regulatory Counsel. He has extensive experience working on matters pertaining to electricity and natural gas distribution, transmission, cyber security, electrification, decarbonization and energy market regulation.
For more information on NPCC’s board of directors, visit https://www.npcc.org/about/leadership-team
About NPCC
Northeast Power Coordinating Council, Inc. is one of six Regional Entities located throughout the United States, Canada, and portions of Mexico that, in concert with the North American Electric Reliability Corporation, seeks to assure a highly reliable, resilient, and secure North American bulk power system through the effective and efficient identification, reduction, and mitigation of reliability risks. NPCC’s geographic area includes the six New England states, the State of New York, the provinces of Ontario, Québec, and the Canadian Maritime Provinces of New Brunswick and Nova Scotia. Overall, NPCC covers an area of nearly 1.2 million square miles, populated by approximately 56 million people.
NPCC carries out its mission through: (i) the development of regional reliability standards and compliance assessment and enforcement of continent-wide and Regional Reliability standards; (ii) coordination of system planning, design and operations, and assessment of reliability; and (iii) the establishment of Regionally specific criteria and monitoring and enforcement of compliance with such criteria.
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BATAVIA, N.Y.--(BUSINESS WIRE)--Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries, today announced that Daniel J. Thoren, President and Chief Executive Officer and Christopher J. Thome, Vice President - Finance and Chief Financial Officer will present and be available for virtual investor meetings at the Gabelli Funds 33rd Annual Pump, Valve and Water Systems Symposium on Thursday, February 23, 2023.
The Graham presentation is scheduled to begin at 3:15 p.m. Eastern Time and will be accessible here through the conference and on the Graham Corporation Investor Relations website. A replay will also be made available.
To schedule a virtual meeting with management at the conference, contact Miles McQuillen, AVP Private Wealth Management, at This email address is being protected from spambots. You need JavaScript enabled to view it.
About Graham Corporation
GHM is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy and process industries. The Graham Manufacturing and Barber-Nichols’ global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems.
Graham Corporation routinely posts news and other important information on its website, www.grahamcorp.com, where additional information on Graham Corporation and its businesses can be found.
Christopher J. Thome
Vice President - Finance and CFO
Phone: (585) 343-2216
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Deborah K. Pawlowski
Kei Advisors LLC
Phone: (716) 843-3908
BOCA RATON, Fla.--(BUSINESS WIRE)--Bluegreen Vacations Holding Corporation (NYSE: BVH) (OTCQX: BVHBB) (“Bluegreen Vacations,” “Bluegreen,” or the “Company”), a vacation ownership company, has extended its multi-year agreement with NASCAR®.
Under the extended agreement, Bluegreen will remain the Official Vacation Ownership Provider of NASCAR® for another six years. Bluegreen also extended its sponsorship of NASCAR’s season-opening qualifier races, the Duel at DAYTONA, and will remain title sponsors of the event through 2024.
“We are thrilled to continue our relationship with NASCAR® and Daytona International Speedway,” said Ray Lopez, Bluegreen’s Chief Operating Officer and Chief Financial Officer. “We’re seeing an increasing demand for unique experiences among Bluegreen owners and this agreement with NASCAR® allows us to offer an opportunity to experience NASCAR® in the heart of the action,” he added.
Bluegreen Vacations was first designated the Official Vacation Ownership Provider of NASCAR® in 2018. Since then, over 1,800 Bluegreen vacation owners and guests have participated in Bluegreen’s exclusive NASCAR® race weekend events.
“During our NASCAR® Bash events at select races, Bluegreen owners participating in a Bluegreen vacation are treated to a private welcome party and receive behind-the-scenes access at the tracks, have an opportunity to meet drivers, may experience pace car rides and enjoy VIP suite access to watch the races,” commented Nancy Samson, Vice President of Owner and Member Marketing for Bluegreen Vacations.
Since being named the Official Vacation Ownership Provider of NASCAR®, the Company has sponsored the Bluegreen Vacations 500 at Phoenix Raceway and has been a three-time sponsor of the Duel at DAYTONA.
“The DAYTONA 500 and the Bluegreen Vacations Duel, as well as other leading NASCAR® events, are bucket list affairs for fans,” said Michelle Byron, NASCAR Senior Vice President of Partnership Marketing. “Through this continued partnership, Bluegreen’s owners have the opportunity to take advantage of some of the most premium and exclusive experiences at NASCAR® events across the country.”
About Bluegreen Vacations Holding Corporation:
Bluegreen Vacations Holding Corporation (NYSE: BVH; OTCQX: BVHBB) is a leading vacation ownership company that markets and sells vacation ownership interests and manages resorts in popular leisure and urban destinations. The Bluegreen Vacation Club is a flexible, points-based, deeded vacation ownership plan with 70 Club and Club Associate Resorts and access to nearly 11,300 other hotels and resorts through partnerships and exchange networks. The Company also offers a portfolio of comprehensive, fee-based resort management, financial, and sales and marketing services to, or on behalf of, third parties.
About NASCAR:
The National Association for Stock Car Auto Racing (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States and owner of 16 of the nation’s major motorsports entertainment facilities. NASCAR sanctions races in three national series (NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR CRAFTSMAN Truck Series™), four international series (NASCAR Brasil Sprint Race, NASCAR Mexico Series, NASCAR Pinty’s Series (Canada), NASCAR Whelen Euro Series), four regional series (ARCA Menards Series, ARCA Menards Series East & West and the NASCAR Whelen Modified Tour) and a local grassroots series (NASCAR Advance Auto Parts Weekly Series). The International Motor Sports Association™ (IMSA®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. NASCAR also owns Motor Racing Network, Racing Electronics, and ONE DAYTONA. Based in Daytona Beach, Florida, with offices in eight cities across North America, NASCAR sanctions more than 1,200 races annually in 12 countries and more than 30 U.S. states. For more information visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Facebook, Twitter, Instagram, and Snapchat (‘NASCAR’).
About DAYTONA International Speedway:
Daytona International Speedway is a state-of-the-art motorsports facility and was awarded the SportsBusiness Journal’s prestigious Sports Business Award for Sports Facility of the Year in 2016. Daytona International Speedway is the home of The Great American Race – the DAYTONA 500. Though the season-opening NASCAR Cup Series event garners most of the attention – as well as the largest audience in motorsports – the approximately 500-acre motorsports complex, also known as the World Center of Racing, boasts the most diverse schedule of racing on the globe. Some of the exciting racing events include January’s Rolex® 24 At DAYTONA and Roar Before The Rolex 24, February’s DAYTONA 500 and Speedweeks Presented by AdventHealth®, March’s Bike Week At DAYTONA Presented By Monster Energy, featuring DAYTONA Supercross and the DAYTONA 200, the August Coke® Zero Sugar 400 weekend, and much more. The Speedway grounds are also used extensively for other events that include concerts (Welcome to Rockville, Heroes Honor Festival, etc.), sporting events (DAYTONA Soccer Fest, CLASH DAYTONA, etc.) civic and social gatherings, car shows, photo shoots, production vehicle testing and police motorcycle training.
This press release contains forward-looking statements. All opinions, forecasts, projections, future plans, and other statements, other than statements of historical fact, are forward-looking statements. There is no assurance that Bluegreen owners will have access to or an opportunity to participate in the NASCAR® experiences described in this release or otherwise.
Bluegreen Vacations Holding Corporation Contact Info:
Investor Relations: Leo Hinkley, Managing Director, Investor Relations Officer
Telephone: 954-399-7193
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Bluegreen Vacations Contact Info:
Media and Public Relations: Marcia McLaughlin, Director Brand & Owner Marketing
Telephone: 561-912-8115
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Management to Showcase 64,000 Square Foot Production Facility and Lean Manufacturing & Production Process Improvements
Flux Power to Brief Investors on Complete Product Line of Lithium-Ion Battery Packs and Expanded Testing and Product Validation Capabilities
VISTA, Calif.--(BUSINESS WIRE)--Flux Power Holdings, Inc. (NASDAQ: FLUX), a developer of advanced lithium-ion energy storage solutions for electrification of commercial and industrial equipment, will host an investor and analyst day on Wednesday, March 15, 2023, from 9:30 a.m. PT to 1:45 p.m. PT at its company headquarters and manufacturing facility in Vista, California.
Flux Power Chief Executive Officer Ron Dutt and Chief Financial Officer Chuck Scheiwe will be joined by other senior management team members to provide an overview of Flux Power’s clean, safe, and innovative lithium technology platforms, growth strategies and strategic initiatives. Immediately following the presentation and Q&A session, attendees will have the opportunity to tour the facility and join senior management for lunch.
Investors and analysts who attend the tour will see recent facility manufacturing process improvements to increase capacity and an additional production line, as well as the Company’s expanded testing and product validation capabilities, including:
Space is limited and registration is required. For more details and to register for the event, investors and analysts should contact This email address is being protected from spambots. You need JavaScript enabled to view it. or call Chris Tyson at (949) 491-8235.
Date & Time |
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Agenda |
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Wednesday, March 15, 2023 |
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9:30 AM |
Arrival & Coffee |
9:30 a.m. PT to 1:45 p.m. PT |
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9:45 AM |
Management Presentation and Q&A |
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11:15 AM |
Production Facility Tours |
Location |
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12:15 PM |
Lunch & Investor 1x1’s |
2685 S Melrose Dr. |
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1:45 PM |
Day Concludes |
Vista, CA 92081 |
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Conveniently located a short drive south of Orange County |
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Flux Power announced in February its second quarter 2023 revenue had increased 123% to $17.2 million, representing its 18th consecutive quarter of year-over-year revenue growth. The Company received $20.7 million in new purchase orders during third quarter and customer order backlog totaling $30.4 million. Recent strategic initiatives are driving increased backlog conversion, improved Adjusted EBITDA performance and higher gross margins, resulting in progress to profitability.
About Flux Power Holdings, Inc.
Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.
Forward-Looking Statements
This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, deferral of shipments, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of operations, financial condition and performance will not differ materially from the results of operations, financial condition and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
Follow us at:
Blog: Flux Power Blog
News Flux Power News
Twitter: @FLUXpwr
LinkedIn: Flux Power
Media & Investor Relations:
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External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
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www.mzgroup.us
ST. LOUIS--(BUSINESS WIRE)--#LivingSystems--Introba, one of the world’s largest building engineering and consulting firms (formerly Integral Group, Ross & Baruzzini, Elementa Consulting, and Elementa Engineering), is creating Living Systems that are smart, secure, resilient, and connected. Through advisory and engineering services, they build environments that uplift communities, protect the planet’s health, and adapt to meet future demands. Introba has 1,000+ employees in offices across the United States, Canada, Australia, the United Kingdom, and Serbia.
Designing Living Systems, Transforming Built Environments
In partnership with the clients they serve, Introba’s leading-edge design and advisory practices apply technology, advanced engineering, and thoughtful creativity to elevate the human experience by creating Living Systems—intelligent, resilient built environments that adapt to the needs of the community while protecting the health of the planet.
Introba considers the built environment holistically, not just in its component parts. Critical changes to global infrastructure, material supply chains, and government and corporate policies all play a role in Introba’s transformative design and consulting work. They recognize that business-as-usual engineering will not future-proof against the impact on our planet’s resources or ensure human safety and comfort. Introba has a deep culture of creative engineering aligned with environmental and technological challenges facing their clients, projects, and society.
Through their network of strategically integrated practice areas, Introba seeks to remedy inefficiencies, capitalize on shared opportunities, and find practical solutions to create adaptable, efficient, flexible, equitable, cost-effective, and resilient environments today and for future generations.
“Our blended expertise in built environment engineering practice areas with specialty advisory services creates Living Systems that are intelligent, resilient, highly sustainable, and connected to their environments. Together, we are leaders in advanced engineering and innovation.”
Bill Overturf, President
Integrating Smart & Adaptive Building Solutions
Thriving Living Systems require a strong digital foundation. Introba’s digital advisory and design analytic services focus on harnessing the power of data and emerging technology to drive efficiency, sustainability, human wellbeing, and resilient systems. A digital mindset is integrated across our design and engineering processes in ways that transform communities and buildings into adaptive, intelligent, and future-flexible systems.
Introba builds digitally enhanced decision-making into every phase of our work. From predictive modeling to real-time digital twins, Introba brings advanced data analysis, sensor strategies, and empirical modeling to each project. Using these tools allows clients to craft personalized experiences, optimize asset performance, and achieve strategic goals including Environmental, Social, and Governance (ESG) commitments.
Introba established a dedicated group of digital navigators to help clients understand the trends and create customized, adaptive technology plans that guide implementation and operations. From intelligent buildings to artificial intelligence and mixed reality, digital navigators map client processes to the right technologies and systems to deliver positive impact now and into the future.
“The range of digital opportunities and the pace of technological change can be overwhelming. Introba’s digital advisory team specializes in demystifying technology and creating future-flexible systems that elevate the human experience, optimize system performance, and nurture our connection to the environment.”
Chris Runde, Director, Global Digital Advisory Services
Committed to Resilient & Sustainable Engineering
The built environment sector urgently needs Living Systems to better integrate climate and sustainability solutions. Infrastructure investment, governance, and delivery of projects globally need greater alignment with climate and sustainability targets.
In addition to cutting-edge design and smart technology integration, Introba remains at the vanguard of climate resilience strategy, providing proven strategic direction and engineering solutions to deliver healthy, high-performing spaces where occupants and communities can thrive.
With buildings, transportation, and utilities presenting some of the most significant opportunities for addressing climate change and sustainability in the built environment, Introba’s work for clients and their own operations and research directly addresses fourteen of the UN Sustainable Development Goals (SDGs).
Combining its deep expertise in planning, policy, economics, environmental and computer sciences, project management, engineering, and corporate strategy with a full complement of climate and sustainability services, Introba delivers projects from design conception to operating performance. Their services integrate design analysis and strategy to achieve certification and assurance.
“An integrated approach to buildings and infrastructure is essential for climate action and sustainable development. We must be on a clear path to decarbonize by 2050 and have made significant progress by 2030. Introba has the depth and breadth of expertise and experience to make real changes in our planetary future.”
Richard Palmer, Director, Global Sustainability
Learn More at Introba.com
Introba invites you to learn more about their wide array of solutions and the market sectors they serve. View their project portfolio and explore current career opportunities on their new website: www.introba.com.
About Introba
Introba is one of the world’s largest building engineering and consulting firms, with more than 1,000 employees in offices across the United States, Canada, the United Kingdom, Serbia, and Australia.
Providing a full range of design services, including mechanical, electrical, plumbing, and fire safety and protection engineering; technology systems; security consulting; medical equipment planning; aviation baggage handling; and sustainability consulting, the firm delivers projects across key sectors, including commercial, healthcare, government, education, aviation, culture, and science and technology.
Committed to reshaping the world, Introba’s problem solvers combine cutting-edge digital solutions with emerging innovations and industry-leading sustainability strategies to transform the built environment. Introba creates Living Systems that are smart, secure, resilient, and connected – spaces that uplift communities, protect the health of the planet, and adapt to meet the demands of the future.
Michael Luhning
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