LOS ANGELES--(BUSINESS WIRE)--#EVs--Fisker Inc. (NYSE: FSR) ("Fisker") has responded to a report published by Fuzzy Panda Research. On Dec. 1, 2022, Fisker issued a cease-and-desist letter to the firm, which announced a short position in Fisker stock at the same time it released a purported assessment containing numerous false and misleading allegations about Fisker’s business operations and its relationship with manufacturing partner Magna.
Fisker said: “Fisker Inc. does not have a bank guarantee with Magna, and Fisker owns the intellectual property for the Fisker Ocean platform. The Ocean platform does not have 80 percent carryover parts from any other platform.”
Fisker intends to take immediate and aggressive action to address the false and misleading claims made by Fuzzy Panda Research.
About Fisker Inc.
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world's most sustainable vehicles. To learn more, visit www.FiskerInc.com – and enjoy exclusive content across Fisker's social media channels: Facebook, Instagram, Twitter, YouTube and LinkedIn.
Download the revolutionary new Fisker mobile app from the App Store or Google Play store.
US Media:
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Fisker Inc. Communications:
Matthew DeBord
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Rebecca Lindland
Director, Communications
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Investor Relations:
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DUBLIN--(BUSINESS WIRE)--The "India Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Electricity Act of 2003
3 Draft Electricity (Amendment) Bill, 2020
4 Cross Border Power Trade Regulation, 2020
5 Renewable Energy Targets
6 Scheme for Supply of Round-The-Clock (RTC) Renewable Energy
7 National Action Plan on Climate Change
8 Amendments in National Tariff Policy
9 Renewable Energy Certificates
10 Memorandum- "Make in India" for Local Content in Renewable Energy Products
11 Memorandum-Quality of Solar Modules
12 National Wind-Solar Hybrid Policy
13 COVID 19 Pandemic Extensions
14 Interstate Transmission Network System (ISTS)-Connected Wind-Solar Hybrid Power Projects
15 Green Energy Corridor
16 Extension on Waiver of Inter-State Transmission Charges for Wind and Solar Projects
17 National Renewable Energy Act, 2015
18 Green Term Ahead Market (GTAM)
19 Union Budget, Allocation for Power Sector
20 Green Hydrogen
21 Renewable Energy Auctions
22 Feed-in-Tariffs
23 Support for Renewable Energy, India
24 Central Government Schemes for the development of power sector
For more information about this report visit https://www.researchandmarkets.com/r/ewp89g
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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MONTRÉAL--(BUSINESS WIRE)--$NMG #ESG--Nouveau Monde Graphite Inc. (the "Company" or "Nouveau Monde") (TSXV: NOU; NYSE: NMG) is pleased to announce that it has, subject to all required regulatory approvals, including the approval of the TSX Venture Exchange (the "Exchange"), retained Hybrid Financial Ltd. ("Hybrid") to provide assistance in all aspects of a marketing campaign for the Company, pursuant to an agreement entered into between the Company and Hybrid effective as of December 1, 2022 (the "Hybrid Agreement").
The services provided by Hybrid to the Company are the access and use of a database of registered financial professionals in North America (the "Services"). Hybrid is not promoting the specific purchase or sale of securities. It provides its database, technology, email tracking and call center services to enable the Company to disseminate its information to financial professionals only. Hybrid provides its services directly to the Company.
Hybrid has agreed to comply with all applicable securities laws and the policies of the Exchange in providing the Services.
Modalities
Pursuant to the Hybrid Agreement, Hybrid has been retained by the Company for an initial period of six months. Upon expiration of the initial term, the Hybrid Agreement shall be renewed upon written agreement between the parties for successive three-month periods thereafter, unless terminated by the Company in accordance with the Hybrid Agreement. Hybrid will be paid a fee in the amount of $15,000 per month, plus applicable taxes, during the initial term and any extensions. Steve Marshall will be the responsible person.
Except the Hybrid Agreement, there is no relationship between Hybrid and the Company, nor is there any direct or indirect interest in the Company or its securities or any right or intent to acquire such an interest on the part of Hybrid.
Cancellation of Options
The Company is seeking approval from the Exchange to cancel 487,804 options (the "Initial Options") granted to SD Capital and GKB Ventures, consultants of the Company and grant 453,048 new options (the "New Options") to the same consultants. The Initial Options have an exercise price of $8.20, vest on the closing of the project financing of the Company for both the Matawinie Mine project and Bécancour Battery Material Plant project (the "Project Financing") and expire on March 28, 2024.
The New Options will have an exercise price of $8.20, will vest on the closing of the Project Financing (no later than March 28, 2025) and will expire two (2) years following the vesting of the New Options.
About Hybrid Financial
Hybrid Financial connects issuers to the investment community across North America. Using a data-driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.
About Nouveau Monde Graphite
NMG is striving to become a key contributor to the sustainable energy revolution. The Company is working towards developing a fully integrated source of carbon-neutral battery anode material in Québec, Canada for the growing lithium-ion and fuel cell markets. With low-cost operations and enviable ESG standards, NMG aspires to become a strategic supplier to the world’s leading battery and automobile manufacturers, providing high-performing and reliable advanced materials while promoting sustainability and supply chain traceability. www.NMG.com
Subscribe to our news feed: https://NMG.com/investors/#news
Cautionary Note Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained in this press release including, but not limited to those statements which are discussed under the “About Nouveau Monde Graphite” paragraph and elsewhere in the press release which essentially describe the Company’s outlook and objectives, constitute “forward-looking information” or “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of Canadian and United States securities laws, and are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect. Moreover, these forward-looking statements were based upon various underlying factors and assumptions, including the current technological trends, the business relationship between the Company and its stakeholders, the ability to operate in a safe and effective manner, the timely delivery and installation of the equipment supporting the production, the Company’s business prospects and opportunities and estimates of the operational performance of the equipment, and are not guarantees of future performance.
Forward-looking statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Risk factors that could cause actual results or events to differ materially from current expectations include, among others, delays in the scheduled delivery times of the equipment, the ability of the Company to successfully implement its strategic initiatives and whether such strategic initiatives will yield the expected benefits, the availability of financing or financing on favorable terms for the Company, the dependence on commodity prices, the impact of inflation on costs, the risks of obtaining the necessary permits, the operating performance of the Company’s assets and businesses, competitive factors in the graphite mining and production industry, changes in laws and regulations affecting the Company’s businesses, political and social acceptability risk, environmental regulation risk, currency and exchange rate risk, technological developments, the impacts of the global COVID-19 pandemic and the governments’ responses thereto, and general economic conditions, as well as earnings, capital expenditure, cash flow and capital structure risks and general business risks. A further description of risks and uncertainties can be found in NMG’s Annual Information Form dated March 22, 2022, including in the section thereof captioned “Risk Factors”, which is available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Unpredictable or unknown factors not discussed in this Cautionary Note could also have material adverse effects on forward-looking statements.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are provided for the purpose of providing information about management’s expectations and plans relating to the future. The Company disclaims any intention or obligation to update or revise any forward-looking statements or to explain any material difference between subsequent actual events and such forward-looking statements, except to the extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information regarding the Company is available in the SEDAR database (www.sedar.com), and for United States readers on EDGAR (www.sec.gov), and on the Company’s website at: www.NMG.com
MEDIA
Julie Paquet
VP Communications & ESG Strategy
+1-450-757-8905 #140
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INVESTORS
Marc Jasmin
Director, Investor Relations
+1-450-757-8905 #993
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DUBLIN--(BUSINESS WIRE)--The "Taiwan Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 The Electricity Act
3 Renewable Energy Development Act (REDA)
4 Renewable Energy Targets
5 New Green Energy Revolution
6 National Energy Program
7 Green Finance Action Plan
8 Solar Power Programs
9 Wind Power Programs
10 Feed in Tariffs
11 Incentives for Renewable Energy Sources
12 Renewable Energy Auction
13 Other Programs and Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/2q4ked
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DENVER--(BUSINESS WIRE)--Outrigger Energy II LLC (“Outrigger”) announced today that it has completed the sale of its midstream system in Weld County, Colorado to Summit Midstream Partners, LP (NYSE:SMLP) (“Summit”). Outrigger’s DJ Basin system includes a 60 MMcfd cryogenic natural gas processing plant with product deliveries to the Cheyenne Plains gas pipeline and DCP’s natural gas liquids (“NGL”) system, approximately 70 miles of low-pressure natural gas gathering pipelines, approximately 90 miles of high-pressure natural gas gathering pipelines, 12,800 horsepower of field and plant compression and approximately 30 miles of crude oil gathering pipelines with delivery to the Pony Express Pipeline. Outrigger’s DJ system is anchored by long-term, fee-based contracts and approximately 310,000 dedicated acres from leading basin operators.
Dave Keanini, Outrigger’s President & CEO, stated, “The robust midstream system we developed in the DJ Basin proved attractive to potential purchasers and this transaction with Summit delivers a positive outcome for our customers, employees, and investors. Further, the system’s extensive high-pressure gas gathering footprint provides an excellent platform for interconnectivity with multiple midstream systems in the DJ Basin, including Summit’s system. We have confidence that Summit’s experienced team will provide excellent service to the producer community and continued efficient consolidation and operation of midstream assets in the basin.”
Williston Basin Business Update
With the sale of its DJ Basin system, Outrigger will be exclusively focused on the continued development of its world class Williston Basin system located in Williams and Mountrail Counties, North Dakota. The system is ideally located to service growing volumes and has exposure to several thousand drilling locations across its footprint. Outrigger’s 250 MMcfd Bill Sanderson cryogenic gas processing plant located west of Williston, ND commenced permanent operation in June and is maintaining near 100% runtime. The high efficiency plant features ethane recovery and rejection capabilities with direct market access to the Northern Border Pipeline system for residue gas and the ONEOK NGL pipeline system for natural gas liquids. Outrigger’s plant facilities are easily expandable with additional processing capacity of up to 200 MMcfd for a total capacity of 450 MMcfd. In early 2022, Outrigger extended its 24- and 20-inch diameter, high pressure, rich gas pipeline from Williams County further east into Mountrail County to connect additional customers. The pipeline now extends over one hundred miles, has a capacity of approximately 450 MMcfd and serves multiple customers at various receipt points.
Mr. Keanini added, “We are seeing our core customers increase gas deliveries to our system as we enter 2023 and expect volumes to steadily grow throughout the year. Our asset is exceptionally positioned to provide reliable service to upstream as well as other midstream operators in the basin and we’ve begun scoping the next processing expansion at the Sanderson plant. As producers continue to increase their gas volumes through the drill bit and as gas-to-oil ratios (GORs) increase, our system will provide Williston Basin operators dependable infrastructure to capture their gas and move their products.”
About Outrigger Energy II
Outrigger Energy II is an independent, full-service midstream energy company that owns and operates one of the largest privately-held natural gas gathering and processing system in the Williston Basin of North Dakota. In addition to providing reliable and value-add services to its customers, Outrigger’s core values include promoting safety across all aspects of the company and environment stewardship within its communities. For more information, please visit www.outriggerenergy.com.
Alex Woodruff
EVP, Chief Commercial Officer
720-361-2550
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DUBLIN--(BUSINESS WIRE)--The "Brazil Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Renewable Energy Targets
3 Hydrogen Energy
4 Auctions/Tenders
5 National Electricity Conservation Program - PROCEL
6 National Energy Plan (PNE), 2030
7 National Energy Plan 2050
8 10 Year Energy Expansion Plan, (PDE) 2029
9 Luz para Todos Electrification Program
10 Incentives for Small Hydropower Facilities, Law 9658
11 Wind Turbine Component Tax Exemption (Executive Decree 656)
12 Inova Energia Program
13 National Biofuel Policy
14 BNDES Renovabio
15 Net Metering for Distributed Generation
16 FUEL OF FUTURE PROGRAM
For more information about this report visit https://www.researchandmarkets.com/r/dbcud9
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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NEW YORK--(BUSINESS WIRE)--On November 29, 2022, OceanTech Acquisitions I Corp. (the “Company” or “OceanTech”) (Nasdaq: OTEC/OTECU/OTECW), a special purpose acquisition company, announced that its stockholders have approved an extension of the date by which the Company must consummate a business combination from December 2, 2022 to June 2, 2023 (or such earlier date as determined by the Company’s board of directors) (the “Extension”) at the special meeting of stockholders held on November 29, 2022 (the “Special Meeting”). The Extension provides the Company with additional time to complete the previously announced proposed business combination (the “Transaction”) with Majic Wheels Corp., a Wyoming corporation.
The Company has deposited an amount equal to $0.067 per share for each public share or $125,000 (the “Extension Payment”) into the Company’s trust account for its public stockholders (the “Trust Account”), which enables the Company to further extend the period of time it has to consummate its initial business combination by one month from December 2, 2022, to January 2, 2023. This extension is the first of up to six monthly extensions permitted under the Certificate of Amendment to the Company’s Amended and Restated Certificate of Incorporation approved by our stockholders at the Special Meeting. The Company previously extended the period of time it has to consummate its initial business combination from June 2, 2022, to December 2, 2022.
Stockholders holding 8,477,497 shares of common stock of OceanTech exercised their right to redeem their shares for a pro rata portion of the funds in the Trust Account. As a result, approximately 87,541,321.66 (approximately $10.32 per share) will be removed from the Trust Account to pay such holders. Following the redemption, the Company’s remaining shares of common stock outstanding were 1,848,503. OceanTech has deposited into the Trust Account $125,000 for the initial extension period (commencing December 3, 2022, and ending January 2, 2022).
The Company also made an amendment to the Company’s investment management trust agreement (the “Trust Agreement”), dated as of May 27, 2021, by and between the Company and Continental Stock Transfer & Trust Company, allowing the Company to extend the business combination period from December 2, 2022, to June 2, 2023, and updating certain defined terms in the Trust Agreement.
Business Combination
On November 15, 2022, OceanTech entered into a definitive business combination agreement pursuant to which it would acquire Majic Wheels Corp., a Wyoming corporation (the “Target”). Upon the closing of the business combination, which is expected in the first quarter of 2023, the combined company will be named Majic Corp. Majic Corp. expects to remain listed on Nasdaq under the ticker symbol “MJWL” after the consummation of the Business Combination.
About OceanTech Acquisitions I Corp.
OceanTech is a blank check company incorporated as a Delaware corporation on February 3, 2021 for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
About Majic Wheels Corp.
Majic Wheels’ ecosystem includes assets such as Calfin Global Crypto Exchange (“CGCX”), the world’s leading hybrid exchange, and PCEX, an Indian exchange that is transforming the B2B crypto landscape in over 250 locations within India. CGCX provides customers with a high caliber, secure, and simple-to-navigate crypto trading experience by combining four blockchain services onto a single platform. This includes a crypto exchange, merchant solutions, smart contracts, and an initial coin offering (“ICO") platform.
Additional Information and Where to Find It
The Company intends to file a Prospectus and Proxy Statement with the SEC describing the business combination and other stockholder approval matters for the consideration of the Company’s stockholders, which Prospectus and Proxy Statement will be delivered to its stockholders once definitive. This document does not contain all the information that should be considered concerning the business combination and the other stockholder approval matters and is not intended to form the basis of any investment decision or any other decision in respect of the business combination and the other stockholder approval matters. The Company’s stockholders and other interested persons are advised to read, when available, the Prospectus and Proxy Statement and the amendments thereto and other documents filed in connection with the business combination and the other stockholder approval matters, as these materials will contain important information about the Company, the Target, the business combination and the other stockholder approval matters. When available, the Prospectus and Proxy Statement and other relevant materials for the business combination and the other stockholder approval matters will be mailed to stockholders of the Company as of a record date to be established for voting on the business combination and the other stockholder approval matters. Stockholders will also be able to obtain copies of the Prospectus and Proxy Statement and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to: OceanTech Acquisitions I Corp., 515 Madison Avenue, 8th Floor – Suite 8133, New York, New York, 10022 or (929) 412-1272.
No Offer or Solicitation
This Press Release is for informational purposes only and is not intended to and shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed business combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Participants in Solicitation
The Company, the Target and their respective directors and executive officers may be deemed participants in the solicitation of proxies from the Company’s stockholders with respect to the business combination. A list of the names of the Company’s directors and executive officers and a description of their interests in the Company will be included in the proxy statement/prospectus for the proposed business combination when available at www.sec.gov. Information about the Company’s directors and executive officers and their ownership of Company common stock is set forth in the Company’s Form 10-K, dated March 16, 2022, and in its prospectus dated May 27, 2021, as modified or supplemented by any Form 3 or Form 4 filed with the SEC since the date of such filing. Other information regarding the interests of the participants in the proxy solicitation will be included in the proxy statement/prospectus pertaining to the proposed business combination when it becomes available.
Cautionary Statement Regarding Forward-Looking Statements
This Press Release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, our plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, statements regarding Target’s industry and market sizes, future opportunities for Target and Company, Target’s estimated future results and the proposed business combination between Company and Target, including the implied enterprise value, the expected transaction and ownership structure and the likelihood, timing and ability of the parties to successfully consummate the proposed transaction. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements.
In addition to factors previously disclosed in the reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: inability to meet the closing conditions to the business combination, including the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement; the inability to complete the transactions contemplated by the Merger Agreement due to the failure to obtain approval of Company’s shareholders, the failure to achieve the minimum amount of cash available following any redemptions by Company shareholders, redemptions exceeding a maximum threshold or the failure to meet The Nasdaq Stock Market’s initial listing standards in connection with the consummation of the contemplated transactions; costs related to the transactions contemplated by the Merger Agreement; a delay or failure to realize the expected benefits from the proposed transaction; risks related to disruption of management’s time from ongoing business operations due to the proposed transaction; changes in the cryptocurrency and digital asset markets in which Target provides insurance and infrastructure offering services, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in domestic and global general economic conditions, risk that Target may not be able to execute its growth strategies, including providing software solutions for the broad blockchain technology, and identifying, acquiring, and integrating acquisitions; risks related to the ongoing COVID-19 pandemic and response; risk that Target may not be able to develop and maintain effective internal controls; and other risks and uncertainties indicated in Company’s final prospectus, dated May 27, 2021, for its initial public offering, and the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in Company’s other filings with the SEC. Company and Target caution that the foregoing list of factors is not exclusive.
Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Company and Target or the date of such information in the case of information from persons other than Company or Target, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding Target’s industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.
Investor Relations
Lena Cati
The Equity Group, Inc.
(212) 836-9611
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Investor Relations
Majic Wheels Corp.
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DUBLIN--(BUSINESS WIRE)--The "South Korea Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Green Growth Policy
3 New Deal 2.0
4 Renewable Energy Targets
5 Ninth Basic Plan - 2020-2034
6 Third Energy Master Plan 2019-2040
7 Renewable Portfolio Standards (RPS)
8 Renewable Energy Certificates (REC)
9 Fixed price contract bidding system
10 Korea Renewable Energy 3020 Plan
11 Hydrogen Energy
12 Nationally Determined Contribution (NDC) to the Paris Agreement
13 Tax Audit Exemption
14 Mandatory Use for Public Buildings
For more information about this report visit https://www.researchandmarkets.com/r/14s6i6
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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PORTLAND, Ore.--(BUSINESS WIRE)--For the third consecutive year, NW Natural scored the second-highest in customer satisfaction among large utilities in the West, according to J.D. Power.
NW Natural received 773 points in the West large utility segment, which represents utilities serving 500,000 or more residential customers, as part of J.D. Power’s Gas Utility Residential Customer Satisfaction Study.
This is the 19th time the company has scored in the top two in the West. NW Natural also scored in the top 10 in the nation among large gas utilities this year.
“We’re proud to serve our communities with safe and dependable service. Our customers have always been the focal point at NW Natural,” said David Anderson, President and CEO. “It is particularly satisfying to once again this year receive such robust confirmation that they appreciate our commitment to service, safety and reliability.”
The 2022 Gas Utility Residential Customer Satisfaction Study is based on responses from 57,239 online interviews conducted from January 2022 through October 2022 among residential customers of the 84 largest gas utility brands across the United States, which represent more than 64.6 million households.
The study, now in its 21st year, measures residential customer satisfaction with natural gas utilities across six factors: safety and reliability; billing and payment; price; corporate citizenship; communications; and customer service.
About NW Natural
NW Natural, a part of Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon, and has been doing business for more than 160 years. NW Holdings owns NW Natural, NW Natural Renewables Holdings (NW Natural Renewables), NW Natural Water Company (NW Natural Water), and other business interests.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 790,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores.
We have a longstanding commitment to safety, environmental stewardship, and taking care of our employees and communities. Learn more in our latest ESG Report.
Stefanie Week, 503-739-9902, This email address is being protected from spambots. You need JavaScript enabled to view it.
DUBLIN--(BUSINESS WIRE)--The "Japan Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Renewable Energy Targets
3 Sixth Strategic Energy Plan, 2021
4 Hydrogen Energy in Japan
5 Japan Renewable Energy Policy Platform
6 Amendment of the Renewable Energy Act (New Feed-in Tariff Act)
7 Feed-in Tariffs for Renewable Energy
8 Renewable Energy Auctions
9 RE 100
10 Establishment of New Energy Development Organization
11 Renewable Energy Certificates (REC) in Japan
12 Act No. 89
13 Cool Earth-Innovative Energy Technology Program
For more information about this report visit https://www.researchandmarkets.com/r/4bgyak
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--$XPRO #XPRO--Energy services provider, Expro (NYSE: XPRO), has announced a new $50 million contract with North Sea operator Apache Corporation on its Beryl and Forties assets.
The fully integrated well intervention and integrity services contract, which has a primary term of three years, and two one-year extension options, involves pumping and optimization operations across all of Apache’s North Sea assets, including Beryl Alpha and Bravo, and Forties Alpha, Bravo, Charlie, Delta and Echo.
Expro will provide integrated services to Apache, including slickline, e-line, cased hole, pressure pumping, and several of the company’s new innovative technologies, including OctopodaTM, CoilHose, and Distributed Fiber Optic Sensing (DFOS) Slickline, with multi-skilled teams based in Aberdeen, Scotland.
The contract will see the company invest significant capital in new equipment and technology as part of its commitment to a long-term future on the UK continental shelf. The project is due to start early fourth quarter 2022.
Colin Mackenzie, Expro’s Regional Vice President of Europe and Sub-Saharan Africa, said:
“We are delighted to receive this award, which demonstrates the continuation of our longstanding relationship with Apache and long-term investment in the UK sector of the North Sea. The full scope of services for this campaign will be supported from Expro’s regional headquarters in Aberdeen.
“Expro have worked with Apache for two decades. We are committed to providing safe, efficient, and environmentally responsible services. We look forward to adding further value to Apache with the introduction of our latest well intervention technologies.”
NOTES TO EDITORS:
About Expro
Working for clients across the well life cycle, Expro is a leading provider of energy services, offering cost-effective, innovative solutions and what the Company believes to be best-in-class safety and service quality. The Company’s extensive portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.
With roots dating to 1938, Expro has approximately 7,200 employees and provides services and solutions to leading exploration and production companies in both onshore and offshore environments in approximately 60 countries.
For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release, and oral statements made from time to time by representatives of the Company, may contain certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things, the Company’s environmental, social and governance goals, targets and initiatives, and future growth, and are indicated by words or phrases such as "anticipate," "outlook," "estimate," "expect," "project," "believe," "envision," "goal," "target," "can," "will," and similar words or phrases. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed in or implied by such forward-looking statements. Forward-looking statements are based largely on the Company's expectations and judgments and are subject to certain risks and uncertainties, many of which are unforeseeable and beyond our control. The factors that could cause actual results, performance or achievements to materially differ include, among others the risk factors identified in the Company’s Annual Report on Form 10-K, Form 10-Q and Form 8-K reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practice, or otherwise.
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BARCELONA, Spain--(BUSINESS WIRE)--Wallbox N.V. (NYSE: WBX), a leading provider of electric vehicle (EV) charging and energy management solutions, has today announced two strategic hirings.
The company strengthens its corporate structure through the creation of a new communications and public affairs team, which will be led by Myriam Lhermurier Boublil. As Chief Communications & Public Affairs Officer, Myriam will lead a growing team, already well established in Spain and the United States. The communications and public affairs team will enhance the company's global communication as it works to facilitate the adoption of electric vehicles and change the current approach to energy management, promoting Wallbox's role as a leader in the EV sector.
The company reinforces its commercial growth potential with the hiring of Javier Riaño, who joins Wallbox as its new Chief Marketing Officer. Javier will report to Masud Rabbani, the company's Chief Business Officer, and will lead the company's corporate marketing, branding and e-commerce strategy globally, helping to strengthen the brand, which is already present in 113 countries and enjoys a leadership position in its main markets, including Europe and the United States.
Enric Asunción, CEO and co-founder of Wallbox said: “We are very pleased that Myriam and Javier have joined the Wallbox team. With the creation of the new Communications and Public Affairs department led by Myriam, we will progress our strategy of positioning Wallbox as a leader in the development of technologies for charging electric vehicles on a global scale. Myriam also brings us her extensive experience in the innovation and technology sector, which is a great asset for us as we continue our mission to be a key player driving change in the way the world uses energy”.
Masud Rabbani, Wallbox's Chief Business Officer, said: “I am delighted to welcome Javier. His extensive experience in corporate marketing, e-commerce, brand management and CRM management positions, among other responsibilities, will help us continue to position Wallbox as a benchmark brand in our main markets, increasing the acceleration of our global growth and expansion. Through his leadership, we hope to be able to creatively and strategically convey our value proposition and our goal to play a key role in the transition to sustainable mobility.”
Myriam Lhermurier Boublil, who has over 25 years of experience in communications and public affairs, led teams in Europe, the Middle East and Asia during her career at Google, where she amassed experience in various leadership positions over 14 years. She also led PayPal's international communications department for more than 3 years, before moving to Barcelona in 2021 to join Domestika as Senior Vice President of Global Communications. Myriam has a degree in International Business with a master's degree in Communications from the Sorbonne University in Paris. She speaks French, English, Spanish and Hebrew.
Javier Riaño has more than 24 years of experience in marketing management positions, mainly in the consumer goods sector. In his previous role , Riaño acted as vice president of corporate marketing for Spain and director of beauty and grooming for southern Europe at Procter & Gamble. Previously, Javier Riaño has worked in different roles within the field of marketing, brand communication and e-commerce at Procter & Gamble on an international level, in cities such as Barcelona, Madrid, Rome and Geneva. Riaño has a degree in business administration and economics from Universidad Pontificia Comillas and in Law from Universidad Nacional de Educación a Distancia (UNED). Javier speaks Spanish, French, English and Italian.
About Wallbox
Wallbox is a global technology company, dedicated to changing the way the world uses energy. Wallbox creates advanced electric vehicle charging and energy management systems that redefine the relationship between users and the network. Wallbox goes beyond charging electric vehicles to give users the power to control their consumption, save money and live more sustainably. Wallbox offers a complete portfolio of charging and energy management solutions for residential, semi-public, and public use in more than 113 countries around the world. Founded in 2015 in Barcelona, where the company’s headquarters are located, Wallbox currently has more than 1,200 employees in its offices across Europe, Asia, and America. For more information, visit www.wallbox.com.
Elyce Behrsin
Global Public Relations Manager
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Trilliant’s technology and expertise to further enable ESB Networks as it upgrades electricity meters in homes, farms and businesses in the Republic of Ireland
FRANKFURT, Germany--(BUSINESS WIRE)--#energy--Enlit Europe 2022 – Trilliant, a leading international provider of solutions for advanced metering infrastructure (AMI), smart grid, smart cities and IIoT, announced that its UK division, Trilliant Networks Operations (UK) Ltd., has been selected by ESB Networks as one of the suppliers to provide smart meters in support of the rollout of Ireland’s National Smart Metering Programme (NSMP). The programme aims to make it easier for customers to manage their energy use, save money and lower their carbon footprint.
Under the terms of the agreement, Trilliant and its partner, Holley Technology Ltd., will be responsible for supplying ESB Networks with Three Phase meters including implementation, testing, maintenance and support for the meters. With Trilliant and Holley’s expertise and technology, homes, farms and businesses will benefit with greater energy efficiency, more accurate billing, improved network management and more.
As part of the National Climate Action Plan, ESB Networks is tasked with upgrading all electricity meters in the Republic of Ireland to smart meters. Trilliant has been an approved ESB Networks supplier for smart meters and related services since 2021, when a framework agreement for head end systems, meter data management systems and security architecture was signed.
“We’re thrilled to work with ESB Networks and supply best-in-class technology and support for this transformative project in Ireland,” said Tom Tipple, Managing Director of the Europe, Middle East, and Africa Region, for Trilliant. “Through this partnership, our work together will result in secure, reliable solutions that can transform ESB Networks’ utility system.”
“Our meter replacement programme is helping to ensure a greener, more sustainable Ireland,” said Carmel O’Connor, Smart Metering Project Manager, at ESB Networks. “We’re delighted to partner with Trilliant in this next phase of our deployment plan, which will ultimately provide homeowners and businesses with increased choice, and better and more accessible information about their energy consumption.”
Trilliant and Holley will work closely with ESB Networks on the final design to ensure the meters are fully compliant with ESB Networks’ needs and requirements for their intended purpose, through phase 3 of ESB Networks’ national deployment programme.
About Trilliant
Trilliant® empowers the global energy industry with the only device-agnostic communications platform that enables utilities and cities to deploy any application securely and reliably on one powerful network. Our purpose-built portfolio is designed to offer the power of choice, without risk of customers being “locked in” with one technology provider or meter manufacturer. We are proud to offer mission-critical solutions that support AMI, Data & Analytics, Smart Metering, Smart Grids and Smart Cities. Customers worldwide benefit from Trilliant’s unique combination of flexibility, sustainability and scalability that connects utilities and cities to the II0T and a more strategic path to the Energy Transition. Visit us at www.trilliant.com.
Tracey Mitchell
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Cindy Watson/Anita Wong
StrategicAmpersand Inc.
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AKRON, Ohio--(BUSINESS WIRE)--$BW--Babcock & Wilcox (B&W) (NYSE: BW) announced today that it has entered into an agreement with Chart Industries, Inc. (NYSE: GTLS) to collaborate on the further deployment of B&W’s BrightLoopTM hydrogen generation technology, utilizing Chart’s integrated hydrogen liquefaction and cryogenic carbon capture equipment and expertise. Together, this solution provides economic generation of low-carbon hydrogen and supplies cost-effective, transportable forms of liquid hydrogen and carbon dioxide.
B&W and Chart will also work together to develop sales and marketing strategies for potential commercial hydrogen and carbon capture customers and projects.
“This collaboration agreement with Chart offers tremendous opportunity to further deploy B&W’s advanced BrightLoop technology,” said Kenneth Young, Chairman and Chief Executive Officer, B&W. “Chart is recognized as an industry leader in liquefaction of CO2 and hydrogen, and their expertise will complement B&W’s proven chemical looping technology as we work together to identify new opportunities to grow our respective businesses.”
“Low-carbon intensity hydrogen is already playing a key role in the global effort to reduce emissions and combat climate change,” Young said. “We’re excited to use our technologies and expertise to help customers across the power and industrial markets achieve their greenhouse gas and emissions reduction targets.”
"We are excited to partner with B&W to accelerate further progress in the growing hydrogen economy, in particular, for bringing more efficient and scalable solutions,” said Jill Evanko, Chart’s CEO and President. “The combination of our respective companies’ hydrogen, CO2 and chemical technology expertise is expected to bring more innovative and cost-effective offerings to customers looking to low-carbon intensity hydrogen to help achieve their carbon emission reduction goals.”
B&W's flexible BrightLoop technology – part of its ClimateBright™ suite of decarbonization and hydrogen technologies – is applicable to a wide range of feedstock, product outputs and applications for industries and utilities. The BrightLoop system is scalable and can convert a wide range of fuels, including natural gas, coal, petroleum coke (petcoke), methane, biomass, biogas, and other industrial process off-gases and materials into hydrogen, syngas and steam for power, process and heating while also isolating CO2 for storage or use.
Chart’s state-of-the-art, efficient hydrogen liquefaction process technology and equipment solutions allow for produced hydrogen gas to be more effectively stored and transported much longer distances as a dense liquid, using Chart storage tanks, trailers, ISO containers, and rail cars. Chart’s Sustainable Energy Solutions (SES) cryogenic carbon capture (CCC) technology removes CO2 from flue gas and supplies liquid CO2 ready for transport via trailer or pipeline to storage or utilization. The refrigeration for both hydrogen liquefaction and CCC can be combined to decrease capital and operating costs.
About Babcock & Wilcox
Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a leader in energy and environmental products and services for power and industrial markets worldwide. Follow us on LinkedIn and learn more at babcock.com.
About Chart Industries, Inc.
Chart Industries, Inc. is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the clean energy and industrial gas markets. The company’s unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart is committed to excellence in environmental, social and corporate governance (ESG) issues both for its company as well as its customers. With over 25 global locations from the United States to Asia, Australia, India, Europe and South America, the company maintains accountability and transparency to its team members, suppliers, customers and communities. To learn more, visit www.chartindustries.com
Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an agreement to collaborate with Chart Industries, Inc. on the further deployment of B&W’s BrightLoop hydrogen generation technology, utilizing Chart’s integrated hydrogen liquefaction and cryogenic carbon capture equipment and expertise. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.
Investor Contact:
Investor Relations
Babcock & Wilcox
704.625.4944
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Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
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Strategic Agreement with Studsvik Expands Capabilities at Springfields Site
CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company today signed a Technology License Agreement with Studsvik to develop a Metals Recycling and Treatment Facility at its Springfields site in Lancashire, UK.
Innovative and carbon-neutral solutions are required to process the hundreds of thousands of tons of contaminated metals expected from nuclear decommissioning projects globally. The ability to clean, melt and recycle metals is recognized as a sustainable and cost-effective alternative to disposal. The facility’s goal is to recycle around 90 percent of the processed metals for re-use in the open market.
The Westinghouse recycling facility will feature a metal melter as the core technology, to clean, treat and recycle contaminated metals and large components. The agreement provides access to Studsvik’s proven melting technology experience and know-how in the field of metallic treatment, significantly enhancing the design and operation of the new facility.
“We look forward to supporting Westinghouse in delivering this new melting facility which will deliver significant benefits to the environment through the recycling of contaminated metals," said Mikael Karlsson, Business Areas President, Waste Management Technology from Studsvik.
“Bringing together the Westinghouse capabilities and existing infrastructure at our Springfields site, with the metals treatment expertise of Studsvik, will create a sustainable solution for contaminated metals for our customers and bring long-term jobs and investment to the Lancashire region,” said Kirsty Armer, Vice President of Westinghouse Environmental Services UK.
The Springfields Melter for Advanced Recycling and Treatment (SMART) facility forms part of Westinghouse’s development of a wider nuclear material management hub at its Springfields site and expands Westinghouse’s global decommissioning and waste management market offerings. The facility development and operations will bring investment and jobs into the Lancashire region - supporting approximately 150 jobs during construction and 40 full-time jobs during operation.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear technologies to utilities globally. Westinghouse supplied the world’s first commercial pressurized water reactor in 1957 and the company’s technology is the basis for nearly one-half of the world's operating nuclear plants. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle. For more information, visit www.westinghousenuclear.com and follow us on Facebook, LinkedIn and Twitter.
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NuScale and industry participants will assess new concepts for use in small modular reactor power plants
PORTLAND, Ore.--(BUSINESS WIRE)--NuScale Power, LLC (NuScale) along with Shell Global Solutions (Shell) and industry participants will develop and assess a concept for an economically optimized Integrated Energy System (IES) for hydrogen production using electricity and process heat from a NuScale VOYGR™ small modular reactor (SMR) power plant. The project entitled, “Development and Demonstration of a Concept for an Economically Optimized IES,” will be completed in two phases. Additional research participants include Idaho National Laboratory, Utah Associated Municipal Power Systems (UAMPS), Fuel Cell Energy, FPoliSolutions, and GSE Solutions.
NuScale’s flexible SMR technology holds the potential to balance and stabilize power grids dominated by renewable energies through hydrogen production. Energy markets present reliability concerns at times when energy demand is high and renewable energy production is low. In these markets, hydrogen would be used as an end-product or as a stored energy source to be processed through a Reversible Solid Oxide Fuel Cell (RSOFC) for electricity generation.
“Hydrogen has been identified as a pathway for global decarbonization and NuScale’s SMR technology complements this goal through low carbon hydrogen production,” said John Hopkins, NuScale Power President and Chief Executive Officer.
A NuScale control room simulator will be modified to evaluate the dynamics of the IES and will include models for the Solid Oxide Electrolysis Cell (SOEC) system for hydrogen production, in addition to a RSOFC for electricity production. The research will consider the number of NuScale Power Modules™ needed for use in SOEC hydrogen production and the quantity of hydrogen stored for subsequent electricity production. Further, local economic factors from the UAMPS Carbon Free Power Project will be assessed, such as the impact in the Western Energy Imbalance Market, resource adequacy programs, and other local market factors to be defined.
“We are pleased to join this collaboration, which is in line with our efforts to explore technologies that have the potential to enable decarbonization and support the energy transition,” said Dirk Smit, Vice President of Research Strategy at Shell.
About NuScale Power
NuScale Power (NYSE: SMR) is poised to meet the diverse energy needs of customers across the world. It has developed small modular reactor (SMR) nuclear technology to supply energy for electrical generation, district heating, desalination, commercial-scale hydrogen production, and other process heat applications. The groundbreaking NuScale Power Module™ (NPM), a small, safe pressurized water reactor, can generate 77 megawatts of electricity (MWe) and can be scaled to meet customer needs. NuScale’s 12-module VOYGR™-12 power plant is capable of generating 924 MWe, and NuScale also offers four-module VOYGR-4 (308 MWe) and six-module VOYGR-6 (462 MWe) power plants, as well as other configurations based on customer needs.
Founded in 2007, NuScale is headquartered in Portland, Ore., and has offices in Corvallis, Ore.; Rockville, Md.; Richland, Wash.; and London, UK. To learn more, visit NuScale Power's website or follow us on Twitter, Facebook, LinkedIn and Instagram.
Forward Looking Statements
This release may contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. These forward-looking statements are inherently subject to risks, uncertainties and assumptions. Actual results may differ materially as a result of a number of factors. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, NuScale’s results may differ materially from its expectations and projections. NuScale specifically disclaims any obligation to update these forward-looking statements. These forward-looking statements should not be relied upon as representing NuScale’s assessments as of any date subsequent to the date of this release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Diane Hughes, Vice President, Marketing & Communications, NuScale Power
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(C) (503) 270-9329
Horizon L:TEC® 1P trackers chosen for bankability and ability to deploy in extreme weather environments
PHOENIX--(BUSINESS WIRE)--Following a successful RE+ show, Ideematec, a leading provider of utility-scale solar tracking systems has the great pleasure to announce reaching an agreement to support Solar Proponent’s approximate 7GW pipeline of projects in Texas using Ideematec’s Horizon L:TEC® 1P tracker. Ideematec and Solar Proponent are working together with an EPC contractor to finalize the delivery schedules for the first approximate 650MW project in Texas.
Philipp Klemm, CEO Ideematec, Inc., said, “Solar Proponent recognizes that our superior tracking technology is not only ideal for hurricane zones around the Texas Gulf Coast but also has a long track record of zero wind damage in areas with up to 105mph wind speeds. We look forward to delivering the first project and working with Solar Proponent to supply GWs of our L:TEC product into the Texas region. Ideematec’s team is proud to reach this milestone in our North American expansion strategy.”
About Ideematec, Inc.
Ideematec, Inc. is a trusted provider of utility-scale solar tracking systems, based in Phoenix, Arizona and backed by 13 years of global tracker expertise. The North American company pioneered the Horizon L:TEC® tracker which is powered by a patented decoupled drive technology and locked sprocket system. Along with safeTrack Horizon™, Ideematec offers both 1P and 2P, and capacity from 1 to 12 strings on one tracker. The company’s key innovations deliver unmatched durability, flexible design capabilities, and optimal power production. Ideematec, Inc.’s parent company, IDEEMATEC, has successfully delivered some of the largest solar facilities on three continents, including Australia (349 MW), Jordan (250 MW) and Spain (200 MW), and delivered the largest 2P one-plot solar project in Qatar (800 MW).
Media Contact:
Ashley Gonzales
Ideematec, Inc.
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This project breathes new life into land that is no longer viable for agriculture while providing alternate sources of income to rural landowners within Enviva’s operating footprint
BETHESDA, Md. & THE PLAINS, Va.--(BUSINESS WIRE)--#Afforestation--Enviva (NYSE: EVA), the world’s leading producer of sustainably sourced woody biomass, and GreenTrees, the market leader in reforestation and carbon removal in the U.S., today announced a nine-year partnership agreement that will contribute towards Enviva’s net-zero goals for its Scope 1 carbon footprint, equating to approximately 10,000 metric tons of carbon removal credits annually, or 90,000 metric tons throughout the duration of the contract.
“We are excited to partner with GreenTrees to help minimize our net carbon emissions and implement local solutions to meet net-zero goals,” said Thomas Meth, President and CEO of Enviva. “As part of the forest products industry, it is important that we utilize a forest-based offset. While Enviva’s long-term focus is to reduce our Scope 1 emissions through energy-efficient projects and substitution of fossil fuels, this partnership will help reduce our net emissions in the short term and positively impact the health of the forests in Enviva’s operating footprint.”
The GreenTrees afforestation project with Enviva will take place in the rural U.S. Southeast, on land formerly used for agriculture but has been deemed no longer suitable for farming and crop growth due to soil erosion and water damage. The afforestation of this land will not compete with lands used for agricultural and food sources, but will revitalize the land and serve as permanent carbon removal. This partnership will also provide a new source of income for rural landowners in the GreenTrees program who are no longer able to use the land for agriculture.
“It’s an honor to partner with Enviva and work alongside a company on their path to net zero,” said Chandler Van Voorhis, co-founder and managing partner of GreenTrees. “We are equally thrilled that in addition to the environmental impact of reducing carbon emissions and restoring previously overworked land to its natural beauty, the landowners GreenTrees partners with will now have another sustainable source of income for their property.”
The path to achieving a net-zero future requires many tools, including third-party verified investments in reforestation and land equity. This partnership contributes to Enviva's net-zero greenhouse gas emissions commitment and represents a ∼14% reduction of Enviva's 2021 Scope 1 footprint. Likewise, GreenTrees’ nature-based carbon removal credits align well with Enviva’s strict sustainability standards. Enviva is focused on high-quality carbon credit projects that promote afforestation and reforestation in the company’s region of operations, as well as projects that remove carbon from the atmosphere and enhance local carbon stocks.
All carbon credits in GreenTrees’ projects undergo a rigorous verification process by the American Carbon Registry. GreenTrees’ verified carbon credits are widely accepted today by major environmental markets, and Fortune 500 companies trust them to meet sustainability goals and mitigate climate change. In winter 2022/2023, GreenTrees’ credits will be the first reforestation credits to be auctioned by the Intercontinental Exchange (ICE).
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva is planning to commence construction of its 12th plant, near Bond, Mississippi, in early 2023. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
About GreenTrees
GreenTrees is the market leader in reforestation and carbon removal in the U.S. A model land equity program for landowners, GreenTrees generates the largest number of forestry carbon removal credits in the U.S. The only carbon removal program open to both small and large landowners, GreenTrees engages individual landowners to plant forests, measure the growth annually and convert the annual growth into carbon credits. All carbon credits in GreenTrees’ projects undergo a rigorous verification process by the American Carbon Registry and are accepted by global environmental markets as the highest standard for quality in nature-based carbon removals. Wholly owned by ACRE Investment Management, LLC, GreenTrees has engaged 600+ landowners ranging from 10 to 3,500+ acres and planted 130,000+ acres of forests that have removed more than six million metric tons of carbon from the Earth’s atmosphere; these existing planted acres will remove a projected 30 million metric tons over the next 40 years; additional plantings will grow carbon removal capacity significantly as GreenTrees’ parent company’s affiliate platform company, ACRE IO, will accelerate planting velocity for GreenTrees and other independent projects. Fortune 500 companies trust GreenTrees’ carbon credits to meet sustainability goals and combat climate change. For more information about GreenTrees, visit https://www.green-trees.com/.
Jacob Westfall
Phone: 240-856-0324
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Elizabeth Buccianti
Gabriel Marketing Group (for GreenTrees)
Phone: 407-463-8865
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DUBLIN--(BUSINESS WIRE)--The "New Zealand Renewable Energy Policy Handbook 2022 Update" report has been added to ResearchAndMarkets.com's offering.
The report offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 New Renewable Energy Target for New Zealand
3 Energy Strategy, 2011-2021 (Energy Strategy 2050)
4 Energy Efficiency and Conservation Strategy, 2017-2022
5 Hydrogen Energy
6 Climate Change and Sustainability Agenda
7 National Policy Statement for Renewable Electricity Generation
8 Buy-back Rates for Solar Power
9 Emissions Trading Scheme (ETS)
10 Zero Carbon Bill
11 Bioenergy Initiative
12 Crown Loans Programme
13 Maori & Public Housing Renewable Energy Fund
For more information about this report visit https://www.researchandmarkets.com/r/z1ztli
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Files Class VI Permit Application Related to Carbon Sequestration Project
DAYTON, Ohio--(BUSINESS WIRE)--REX American Resources Corporation (NYSE: REX) (“REX” or “the Company”) today reported financial results for its fiscal 2022 third quarter (“Q3 ‘22”) ended October 31, 2022. REX management will host a conference call and webcast today at 11:00 a.m. ET.
| Conference Call: | 212/231-2910 |
Webcast / Replay URL: |
www.rexamerican.com |
|
The webcast will be available for replay for 30 days. |
REX American Resources’ Q3 ‘22 results principally reflect its interests in six ethanol production facilities. The One Earth Energy, LLC (“One Earth”) and NuGen Energy, LLC (“NuGen”) ethanol production facilities are consolidated, while the four other ethanol plants are reported as equity in income of unconsolidated ethanol affiliates. The Company reports results for its ethanol and by-products component as continuing operations and beginning in the third quarter of fiscal 2021 its refined coal component as discontinued operations as operations have now ceased.
REX’s Q3 ‘22 net sales and revenue were $220.3 million, compared with $203.1 million in Q3 ‘21. The year-over-year net sales and revenue increase primarily reflects higher pricing for ethanol, dried distillers grains, non-food grade corn oil and modified distillers grains. Q3 ‘22 gross profit for the Company’s continuing operations decreased to $11.3 million, compared with $25.2 million in Q3 ‘21 as the higher net sales and revenue were offset by significant increases in corn and natural gas prices. This led to Q3 ‘22 income before income taxes and non-controlling interests of $6.1 million, compared with $19.2 million in the comparable year ago period.
Net income attributable to REX shareholders from continuing operations in Q3 ‘22 was $3.2 million, compared to $13.3 million in Q3 ‘21. Q3 ‘22 basic and diluted net income per share attributable to REX common shareholders from continuing operations was $0.18, compared to $0.74 per share in Q3 ‘21. Per share results for Q3 ‘22 and Q3 ‘21 are based on 17,591,000 and 17,890,000 diluted weighted average shares outstanding, respectively, reflecting the Company’s 3-for-1 common stock split effected August 5, 2022.
REX American Resources’ Chief Executive Officer, Zafar Rizvi, commented, “The third quarter marked a difficult operating environment as we faced significant price increases in our two largest inputs – corn and natural gas – as well as ongoing logistical constraints. Despite these challenges, we were able to post our ninth consecutive quarter of positive income along with income per share for the first nine months of fiscal 2022 of $1.10. We have maintained our robust balance sheet and liquidity position which at quarter end included approximately $290 million in cash and short-term investments and no debt. We remain confident our strong capital structure positions REX to continue to benefit our shareholders and support our ethanol businesses while strategically investing in initiatives that can yield attractive returns for our employees, partners and shareholders.
“In this regard, our team remains very excited about our carbon capture and sequestration project and is making meaningful progress on this front. We filed a Class VI injection well permit application for three wells to allow us to inject carbon dioxide into deep rock formations and recently signed a contract for a carbon compression facility for our One Earth Energy ethanol plant. The language and opportunities in the Inflation Reduction Act are encouraging, including the new clean fuel production credit under section 45Z and an increase in the 45Q credit to $85 per ton. We believe this can bring significant financial benefits to our carbon capture and sequestration initiatives and to the ethanol industry as a whole.”
Balance Sheet
As of October 31, 2022, REX had cash and cash equivalents and short-term investments of $289.8 million, $30.5 million of which was at the parent company, and $259.3 million of which was at its consolidated production facilities. This compares with cash, cash equivalents and short-term investments at January 31, 2022, of $255.7 million, $42.9 million of which was at the parent company, and $212.8 million of which was at its consolidated ethanol production facilities.
During the fiscal third quarter ended October 31, 2022, the Company repurchased 249,570 shares of its common stock at a cost of approximately $6.8 million. The Company is currently authorized to repurchase up to an additional 876,786 shares of common stock and has approximately 17,390,469 shares of common stock outstanding.
The following table summarizes select data related to REX’s consolidated alternative energy interests:
| Three Months Ended | Nine Months Ended | ||||||||
| October 31, | October 31, | ||||||||
2022 |
2021 |
2022 |
2021 |
||||||
| Average selling price per gallon of ethanol | $ |
2.49 |
$ |
2.31 |
$ |
2.48 |
$ |
2.12 |
|
| Average selling price per ton of dried distillers grains | $ |
230.29 |
$ |
184.85 |
$ |
232.51 |
$ |
200.02 |
|
| Average selling price per pound of non-food grade corn oil | $ |
0.74 |
$ |
0.59 |
$ |
0.70 |
$ |
0.47 |
|
| Average selling price per ton of modified distillers grains | $ |
116.49 |
$ |
92.10 |
$ |
120.23 |
$ |
83.97 |
|
| Average cost per bushel of grain | $ |
7.52 |
$ |
6.45 |
$ |
7.28 |
$ |
6.05 |
|
| Average cost of natural gas (per MmBtu) | $ |
7.15 |
$ |
4.58 |
$ |
6.69 |
$ |
3.69 |
|
Third Quarter Conference Call
REX will host a conference call at 11:00 a.m. ET today to discuss the quarterly results and will host a question and answer session. The dial in number for the audio conference call is 212/231-2910 (domestic and international callers). Participants can also listen to a live webcast of the call on the Company’s website at, www.rexamerican.com. A webcast replay will be available for 30 days following the live event.
About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 699 million gallons of ethanol over the twelve-month period ended October 31, 2022. REX’s effective ownership of the trailing twelve-month gallons shipped (for the twelve months ended October 31, 2022) by the ethanol production facilities in which it has ownership interests was approximately 277 million gallons. Further information about REX is available at www.rexamerican.com.
This news announcement contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements can be identified by use of forward-looking terminology such as “may,” “expect,” “believe,” “estimate,” “anticipate” or “continue” or the negative thereof or other variations thereon or comparable terminology. Readers are cautioned that there are risks and uncertainties that could cause actual events or results to differ materially from those referred to in such forward-looking statements. These risks and uncertainties include the risk factors set forth from time to time in the Company’s filings with the Securities and Exchange Commission and include among other things: the effect of pandemics such as COVID-19 on the Company’s business operations, including impacts on supplies, demand, personnel and other factors, the impact of legislative and regulatory changes, the price volatility and availability of corn, distillers grains, ethanol, non-food grade corn oil, commodity market risk, gasoline and natural gas, ethanol plants operating efficiently and according to forecasts and projections, logistical interruptions, changes in the international, national or regional economies, the impact of inflation, the ability to attract employees, weather, results of income tax audits, changes in income tax laws or regulations, the impact of U.S. foreign trade policy, changes in foreign currency exchange rates and the effects of terrorism or acts of war. The Company does not intend to update publicly any forward-looking statements except as required by law.
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
Consolidated Statements of Operations
(in thousands, except per share amounts)
Unaudited
| Three Months Ended | Nine Months Ended | ||||||||||||||
| October 31, | October 31, | ||||||||||||||
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
| Net sales and revenue | $ |
220,277 |
|
$ |
203,066 |
|
$ |
654,833 |
|
$ |
562,786 |
|
|||
| Cost of sales |
|
208,941 |
|
|
177,914 |
|
|
615,001 |
|
|
504,003 |
|
|||
| Gross profit |
|
11,336 |
|
|
25,152 |
|
|
39,832 |
|
|
58,783 |
|
|||
| Selling, general and administrative expenses |
|
(7,886 |
) |
|
(6,310 |
) |
|
(22,237 |
) |
|
(22,444 |
) |
|||
| Equity in income of unconsolidated ethanol affiliates |
|
661 |
|
|
349 |
|
|
6,210 |
|
|
2,763 |
|
|||
| Interest and other income, net |
|
1,983 |
|
|
35 |
|
|
10,338 |
|
|
117 |
|
|||
| Income before income taxes and noncontrolling interests |
|
6,094 |
|
|
19,226 |
|
|
34,143 |
|
|
39,219 |
|
|||
| Provision for income taxes |
|
(1,196 |
) |
|
(4,338 |
) |
|
(7,374 |
) |
|
(8,329 |
) |
|||
| Net income from continuing operations |
|
4,898 |
|
|
14,888 |
|
|
26,769 |
|
|
30,890 |
|
|||
| Net income attributable to noncontrolling interests (continuing operations) |
|
(1,714 |
) |
|
(1,562 |
) |
|
(7,233 |
) |
|
(4,585 |
) |
|||
| Net income attributable to REX common shareholders (continuing operations) |
|
3,184 |
|
|
13,326 |
|
|
19,536 |
|
|
26,305 |
|
|||
| Net income from discontinued operations, net of tax |
|
- |
|
|
1,815 |
|
|
- |
|
|
4,263 |
|
|||
| Net loss attributable to noncontrolling interests (discontinued operations) |
|
- |
|
|
137 |
|
|
- |
|
|
370 |
|
|||
| Net income attributable to REX common shareholders (discontinued operations) |
|
- |
|
|
1,952 |
|
|
- |
|
|
4,633 |
|
|||
| Net income attributable to REX common shareholders | $ |
3,184 |
|
$ |
15,278 |
|
$ |
19,536 |
|
$ |
30,938 |
|
|||
| Weighted average shares outstanding - basic and diluted |
|
17,591 |
|
|
17,890 |
|
|
17,714 |
|
|
17,983 |
|
|||
| Basic and diluted net income per share from continuing operations attributable to REX common shareholders | $ |
0.18 |
|
$ |
0.74 |
|
$ |
1.10 |
|
$ |
1.46 |
|
|||
| Basic and diluted net income per share from discontinued operations attributable to REX common shareholders |
|
- |
|
|
0.11 |
|
|
- |
|
|
0.26 |
|
|||
| Basic and diluted net income per share attributable to REX common shareholders | $ |
0.18 |
|
$ |
0.85 |
|
$ |
1.10 |
|
$ |
1.72 |
|
|||
- balance sheets follow -
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands)
Unaudited
| October 31, | January 31, | ||||||||
| ASSETS: |
|
2022 |
|
|
2022 |
|
|||
| CURRENT ASSETS: | |||||||||
| Cash and cash equivalents | $ |
135,986 |
|
$ |
229,846 |
|
|||
| Short-term investments |
|
153,819 |
|
|
25,877 |
|
|||
| Restricted cash |
|
1,308 |
|
|
2,222 |
|
|||
| Accounts receivable |
|
22,675 |
|
|
25,821 |
|
|||
| Inventory |
|
42,045 |
|
|
42,225 |
|
|||
| Refundable income taxes |
|
6,611 |
|
|
6,677 |
|
|||
| Prepaid expenses and other |
|
11,576 |
|
|
12,499 |
|
|||
| Total current assets |
|
374,020 |
|
|
345,167 |
|
|||
| Property and equipment, net |
|
131,235 |
|
|
137,554 |
|
|||
| Operating lease right-of-use assets |
|
14,748 |
|
|
11,221 |
|
|||
| Deferred taxes and other assets |
|
21,267 |
|
|
25,853 |
|
|||
| Equity method investment |
|
33,769 |
|
|
30,566 |
|
|||
| TOTAL ASSETS | $ |
575,039 |
|
$ |
550,361 |
|
|||
| LIABILITIES AND EQUITY: | |||||||||
| CURRENT LIABILITIES: | |||||||||
| Accounts payable - trade | $ |
40,271 |
|
$ |
32,266 |
|
|||
| Current operating lease liabilities |
|
4,902 |
|
|
4,600 |
|
|||
| Accrued expenses and other current liabilities |
|
12,109 |
|
|
13,617 |
|
|||
| Total current liabilities |
|
57,282 |
|
|
50,483 |
|
|||
| LONG-TERM LIABILITIES: | |||||||||
| Deferred taxes |
|
3,132 |
|
|
3,132 |
|
|||
| Long-term operating lease liabilities |
|
9,883 |
|
|
6,390 |
|
|||
| Other long-term liabilities |
|
2,997 |
|
|
2,794 |
|
|||
| Total long-term liabilities |
|
16,012 |
|
|
12,316 |
|
|||
| EQUITY: | |||||||||
| REX shareholders' equity: | |||||||||
| Common stock |
|
299 |
|
|
299 |
|
|||
| Paid-in capital |
|
278 |
|
|
- |
|
|||
| Retained earnings |
|
632,665 |
|
|
611,607 |
|
|||
| Treasury stock |
|
(193,770 |
) |
|
(181,114 |
) |
|||
| Total REX shareholders' equity |
|
439,472 |
|
|
430,792 |
|
|||
| Noncontrolling interests |
|
62,273 |
|
|
56,770 |
|
|||
| Total equity |
|
501,745 |
|
|
487,562 |
|
|||
| TOTAL LIABILITIES AND EQUITY | $ |
575,039 |
|
$ |
550,361 |
|
|||
- statements of cash flows follow -
REX AMERICAN RESOURCES CORPORATION AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(in thousands)
Unaudited
| Nine Months Ended | |||||||||
| October 31, | |||||||||
|
2022 |
|
|
2021 |
|
||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||||
| Net income including noncontrolling interests | $ |
26,769 |
|
$ |
35,153 |
|
|||
| Net income from discontinued operations, net of tax |
|
- |
|
|
4,263 |
|
|||
| Net income from continuing operations |
|
26,769 |
|
|
30,890 |
|
|||
| Adjustments to reconcile net income to net cash | |||||||||
| provided by operating activities: | |||||||||
| Depreciation |
|
13,503 |
|
|
13,505 |
|
|||
| Amortization of operating lease right-of-use assets |
|
4,105 |
|
|
4,128 |
|
|||
| Income from equity method investments |
|
(6,210 |
) |
|
(2,763 |
) |
|||
| Dividends received from equity method investments |
|
3,007 |
|
|
1,504 |
|
|||
| Interest income from investments |
|
(1,098 |
) |
|
(36 |
) |
|||
| Deferred income taxes |
|
4,964 |
|
|
5,840 |
|
|||
| Stock based compensation expense |
|
1,295 |
|
|
1,100 |
|
|||
| Gain on sale of property and equipment - net |
|
(91 |
) |
|
(1 |
) |
|||
| Changes in assets and liabilities: | |||||||||
| Accounts receivable |
|
3,146 |
|
|
(20,313 |
) |
|||
| Inventories |
|
180 |
|
|
7,673 |
|
|||
| Refundable income taxes |
|
66 |
|
|
(332 |
) |
|||
| Other assets |
|
649 |
|
|
1,912 |
|
|||
| Accounts payable - trade |
|
7,990 |
|
|
10,916 |
|
|||
| Other liabilities |
|
(4,281 |
) |
|
2,776 |
|
|||
| Net cash provided by operating activities from continuing operations |
|
53,994 |
|
|
56,799 |
|
|||
| Net cash used in operating activities from discontinued operations |
|
- |
|
|
(6,368 |
) |
|||
| Net cash provided by operating activities |
|
53,994 |
|
|
50,431 |
|
|||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||
| Capital Expenditures |
|
(7,182 |
) |
|
(4,245 |
) |
|||
| Purchase of short-term investments |
|
(307,371 |
) |
|
(67,412 |
) |
|||
| Sale of short-term investments |
|
180,527 |
|
|
82,022 |
|
|||
| Other |
|
- |
|
|
40 |
|
|||
| Net cash (used in) provided by investing activities |
|
(134,026 |
) |
|
10,405 |
|
|||
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
| Treasury stock acquired |
|
(13,012 |
) |
|
(6,627 |
) |
|||
| Payments to noncontrolling interests holders |
|
(1,730 |
) |
|
(1,515 |
) |
|||
| Net cash used in financing activities from continuing operations |
|
(14,742 |
) |
|
(8,142 |
) |
|||
| Net cash provided by financing activities from discontinued operations |
|
- |
|
|
280 |
|
|||
| Net cash used in financing activities |
|
(14,742 |
) |
|
(7,862 |
) |
|||
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
|
(94,774 |
) |
|
52,974 |
|
|||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of period |
|
232,068 |
|
|
146,158 |
|
|||
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of period | $ |
137,294 |
|
$ |
199,132 |
|
|||
| Non-cash financing activities - Stock awards accrued | $ |
679 |
|
$ |
972 |
|
|||
| Non-cash financing activities - Stock awards issued | $ |
1,539 |
|
$ |
100 |
|
|||
| Non-cash investing activities - Accrued capital expenditures | $ |
93 |
|
$ |
34 |
|
|||
| Right-of-use assets acquired and liabilities incurred upon lease execution | $ |
7,632 |
|
$ |
3,267 |
|
|||
Douglas Bruggeman
Chief Financial Officer
(937) 276‑3931
Joseph Jaffoni, Norberto Aja
JCIR
(212) 835-8500 / This email address is being protected from spambots. You need JavaScript enabled to view it.
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