OneRail completes significant Series B round in turbulent market; sees unprecedented demand for last mile logistics modernization, signaling massive growth
ORLANDO, Fla.--(BUSINESS WIRE)--#finalmiledelivery--On the heels of record growth, OneRail completes a $33 million Series B funding round, co-led by Piva Capital and Arsenal Growth Equity. Shippers continue to re-evaluate last mile logistics with a more strategic eye, based on a multitude of factors, including providing a superior shipper-branded customer experience, increased dependability and delivery speed, and cost containment, while meeting sustainability objectives. Supply chain transformation has become a catalyst for competitive advantage for shippers of all types and OneRail replaces siloed legacy systems and manual processes (Excel, VRS, TMS, etc.) to leverage a virtuous cycle of transportation performance data — driving measurable improvements in affordability, dependability, speed and sustainability for its customers.
OneRail’s comprehensive last mile solution is anchored by its delivery operating system, which automates last mile logistics, intelligently selecting the right shipping mode and courier or carrier network to optimize every order. OneRail’s delivery fulfillment platform is directly connected to an unparalleled real-time connected network of nearly 10 million drivers, which is supported by its Exceptions Assist™ operations layer — a USA-based exceptions management team available 24/7 who actively get ahead of delivery issues before they occur. With an on-time delivery rate of more than 98 percent, OneRail has firmly established itself as the go-to provider for an expanding range of industries, including retailers, healthcare networks, wholesale product distributors, and construction and materials distributors alike.
“Since our Series A round in 2021, we’ve grown revenue year-over-year by 312 percent and have expanded service to over 330 U.S. cities,” said OneRail CEO and founder Bill Catania. “As the connective tissue between our customers, courier networks and consumers, our delivery fulfillment system is currently transacting over 12 million data calls per minute, producing a mountain of data which is further unlocked through this growth round of funding, helping our customers achieve greater efficiencies, new fulfillment capabilities and corporate sustainability objectives.”
OneRail will leverage this funding round to develop a multitude of new data-driven platform capabilities focused on improving the dependability, affordability, and sustainability of last mile logistics. In addition to the development of new capabilities, OneRail also intends to greatly expand its sales, marketing, and solution engineering teams to meet increased shipper demand for more efficient last mile solutions.
“OneRail is in a pivotal position to help solve last mile issues that plague companies and consumers,” said Adzmel Adznan, co-founding partner with Piva Capital. “As shifts in consumer behavior become more demanding, there is a need for dependable, affordable and sustainable fulfillment solutions, especially in the underserved segment of B2B and industrial deliveries. OneRail’s market understanding and execution is second to none — we are delighted to partner with the team, and look forward to seeing what’s next.”
One such B2B supply chain customer is American Tire Distributors (ATD). “OneRail has enabled ATD to provide our tire retailers across the U.S. with additional last mile delivery services to meet their consumers’ needs,” said Stuart Schuette, president & CEO of ATD. “As their first enterprise customer, we have enjoyed working with the OneRail team to evolve and grow their service offerings together. We are excited to continue solving the ever-changing demand and last mile delivery solutions that meet the needs of the replacement tire and automotive aftermarket industries.”
The funding builds on a successful 2022 that saw OneRail’s platform deployed from over 10,000 unique shipper locations, debut at #48 on this year’s Inc. 5000 list, and named to the FreightTech 100 for the second year in a row. OneRail’s Logistics Partner Network, a managed marketplace that seamlessly benefits shippers and courier businesses, grew by four million, up 66 percent year over year. With nearly 100 team members based in Orlando, Fla., OneRail caught the eye of Arsenal Growth Equity, also based in Orlando.
“OneRail’s growth over the past 24 months is validation of their differentiated supply chain solution for the last mile,” stated Arsenal Growth Equity Founding Partner John Trbovich. “Having invested throughout the e-commerce ecosystem, in companies such as Cart.com and Orderbot, we believe OneRail’s robust technology platform, coupled with our confidence in its team, vision and strategy, will transform the last mile logistics sector.”
Signifying the strength and confidence in OneRail’s solution, additional investors include Trimble Ventures, the corporate capital venture fund of Trimble, a global leader in construction, agriculture and transportation technologies; ATD; as well as existing investors Ironspring Ventures, Las Olas Venture Capital, Bullpen Capital, Triphammer Ventures/Alumni Ventures Group, Gaingels and Mana Ventures. The latest investment brings the company’s total funding efforts to $54.5 since announcing its Seed Round two years ago.
About OneRail
OneRail is an Orlando-based last mile transportation visibility solution providing shippers with Amazon-level dependability and speed. With a real-time connected network of 10 million drivers, OneRail finds the right vehicle for the right delivery, so shippers gain low prices and greater capacity to rapidly scale their businesses. Across retail, CPG, distribution, construction, healthcare and more, OneRail offers an exceptional last mile delivery experience with an on-time delivery rate of 98.6%, while keeping brands front and center. To learn more about OneRail, visit OneRail.com.
About Piva Capital
Piva Capital is a San Francisco-based venture capital firm investing in visionary entrepreneurs who are solving the world's critical industrial challenges with breakthrough technologies and innovative business models. For more information, visit Piva.vc, or the company’s LinkedIn and Medium profiles.
About Arsenal Growth Equity
Arsenal Growth Equity is an execution-stage private equity firm based in Florida. Founded in 1999, Arsenal invests in emerging software companies across a myriad of sectors — targeting capital efficient, high-growth businesses where they can leverage their operational and strategic network to help founders scale. For more information, visit www.arsenalgrowth.com.
About American Tire Distributors
American Tire Distributors is one of the largest independent suppliers of tires to the replacement tire market. It operates more than 115 distribution centers, serving approximately 80,000 customers across the U.S. The company offers an unsurpassed breadth and depth of inventory, frequent delivery and value-added services to tire and automotive service customers. American Tire Distributors employs approximately 4,500 associates across its distribution center network. In 2022, the company was recognized as one of Forbes’ 2022 America’s Best Midsize Employers, America’s Top 100 Most Loved Workplaces by Newsweek and one of Charlotte’s Best and Brightest Companies to Work For® by the National Association for Business Resources.
Julianna Lopez
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Leading Water Technology Company Hosts Annual WaterPRO Competition, Demonstrates Solar Pump, WellConnect Technology, New Water Well Solutions
BROOKSHIRE, Texas--(BUSINESS WIRE)--#Watertechnology--Grundfos, a global leader in advanced pump solutions and water technologies, today announced that the company will exhibit at National Groundwater Association’s (NGWA) 2022 Groundwater Week Conference and Expo in Las Vegas on December 6-8, 2022. In booth #619, Grundfos will host its 3rd annual WaterPRO Competition and demonstrate WellConnect digital, cloud-based water well monitoring solution, as well as the newest solar-powered pumps and SPE water pumps.
“Attending Groundwater Week is like a homecoming for the tight-knit community of water well contractors and pump installers. These professionals and the technology providers come together to collaborate and share what is next in groundwater innovation,” said Patrick Sless, Area Sales Director in Canada and US for Water Utility at Grundfos. “The highly anticipated WaterPRO Competition returns this year. The event is a fun celebration of the skills and expertise pump installers must possess to install and maintain this vital equipment.”
After competitions at local events throughout the year, the WaterPRO Competition culminates at NGWA’s Groundwater Week, where the 10 winners of the local events and two walk-ons compete for a $10,000 grand prize and the Guts and Glory title. Although the specific events are only revealed during the competition, the participants must complete typical pump installer tasks the fastest in order to move on to the next round and eventually win. To learn more about the WaterPRO Competition and to sign up as a walk-on, visit Grundfos WaterPRO Competition.
Attendees can also experience demos of Grundfos’ WellConnect digital, cloud-based water well project management solution that allows water well contractors and pump installers to easily and quickly report on projects and ongoing water well health. The latest solar water pump and SPE products will also be on display.
About Grundfos
Grundfos pioneers solutions to the world’s water and climate challenges and improves quality of life for people. Our new brand promise reaffirms and strengthens this commitment, as we promise to respect, protect and advance the flow of water. As a global pump and water solutions company we provide expertise in energy and water efficient solutions and systems for a wide range of applications, including water utility, water treatment, industries and buildings. Find out more: www.grundfos.com/us and connect on LinkedIn, YouTube, Facebook, and Instagram.
Carrie Ward, PR for Grundfos, This email address is being protected from spambots. You need JavaScript enabled to view it., 832-407-5347
Casey’s signature holiday program returns for guests to unwrap special daily offers via the Casey’s app
ANKENY, Iowa--(BUSINESS WIRE)--Amidst the holiday frenzy, Casey’s is spreading cheer, today announcing the return of “24 Days of Casey’s Rewards” to help bring joy to its guests looking for a reason to treat themselves this holiday season.
Each day from December 1 through December 24, Casey’s will reveal surprise offers for its Rewards members. Guests who participate in the program will find free and exclusive offers to unwrap daily in the Casey’s app, including some of its guests’ favorites – a variety of candy, drinks, snacks, and more like bonus points and BOGO offers to celebrate the season.
“At Casey’s, we know our guests are looking for something special to keep their holidays going,” said Art Sebastian, Vice President of Digital Experience at Casey’s. “To deliver on that promise this holiday season, there’s an experience waiting for them in the Casey’s app with exciting offers every day.”
Casey's loyalty program – Casey's Rewards – provides millions of Casey's guests the ability to earn points on everyday purchases and redeem them for Casey’s Cash, fuel discounts, or a donation to a local school of their choice.
Download the Casey’s app today and be the first to celebrate free offers and more during the 24 Days of Casey's Rewards. More information can be found here.
In addition, guests can get in the holiday spirit with a freshly brewed cup of Casey’s new, seasonal coffee flavor – Toasted Butter Pecan coffee. Guests can also enjoy their next holiday meal with Casey’s delicious, handmade pizza with made-from-scratch dough by ordering in-app or online for pickup or delivery at caseys.com.
About Casey’s
Casey’s is a Fortune 500 company (NASDAQ: CASY) operating over 2,400 convenience stores. Founded more than 50 years ago, the company has grown to become the third-largest convenience store retailer and the fifth-largest pizza chain in the United States. Casey’s provides freshly prepared foods, quality fuel and friendly service at its locations. Guests can enjoy pizza, donuts, other assorted bakery items, and a wide selection of beverages and snacks. Learn more and order online at www.caseys.com, or in the mobile app.
Kendrew Panyanouvong
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515.494.3718
NEW ORLEANS--(BUSINESS WIRE)--Black Bay Energy Capital (“Black Bay”), a private equity firm focused on growth investments for innovative companies in the energy sector, is pleased to announce a promotion, a team addition, and new Strategic Advisory Board members.
Matt Schovee has been promoted to Managing Director. Matt is one of Black Bay’s founding members and focuses on origination, structuring, due diligence, and monitoring of investments. Matt serves on the board of directors at Advanced Industrial Devices and SCS Technologies.
Grant McClure has joined Black Bay as an Associate. Grant joined the firm after several years as a corporate development analyst at Gravity Oilfield Services, a provider of water & infrastructure services to the oil & gas sector. Grant graduated from Louisiana State University with a Bachelor of Science in Petroleum Engineering and from the Freeman School of Business at Tulane University with a Master of Management in Energy. At Black Bay, Grant focuses on investment & transaction analysis, due diligence, and monitoring investments.
In addition, Christine (Chris) Staples and William (Bill) Harvey have been added to Black Bay’s Strategic Advisory Board (“SAB”). A career chemicals executive across various industries (including oil & gas), Ms. Staples is the CEO of Cohere Beauty, a premier formulator and manufacturer of beauty, personal care, fragrance, and specialty products. Mr. Harvey, also a career chemicals executive, serves on the boards of Bridgestone Americas, Origin Materials and Clean Chemistry, a Black Bay portfolio company. Mr. Harvey spent 27 years at DuPont, most recently serving as the President of Packaging and Industrial Polymers.
“Matt has been instrumental in all aspects of Black Bay’s investment activities and creating value for our investors. We are excited to have Grant join the team as we scale our investment activities while deploying our second fund. We are also thrilled to have Chris and Bill join our advisory board given their deep chemical experience and extensive network within the chemical industry,” said Michael LeBourgeois, Managing Partner of Black Bay. “Following on Black Bay’s success in specialty chemicals, the firm sees considerable future opportunities in the sector, and the chemical executives on our SAB will be invaluable in performing due diligence and driving growth with our chemical investments,” added Mr. LeBourgeois.
Black Bay Energy Capital
Black Bay Energy Capital (“Black Bay”) is a private equity firm focused on the North American energy sector. Black Bay invests equity capital alongside talented entrepreneurs that provide a differentiated product or service to their clients to help reduce costs, improve operations, and achieve ESG initiatives. The firm’s investment strategy and success stem from the more than 75 years its investment professionals have been working day-to-day with great teams and building high-growth companies. www.blackbayenergy.com
Black Bay Energy Capital: Michael LeBourgeois (504) 586-3848
Enables Customers to Quickly and Cost-Effectively Extend the Life of their PLIDCO Products
CLEVELAND--(BUSINESS WIRE)--The Pipe Line Development Company (PLIDCO), the leader in pipeline leak repair and maintenance fittings, announced that it has approved six international partners to serve as Authorized Refurbishing Service Centers (ARSCs). PLIDCO recently established ARSCs with its partners in Brunei, Canada, Colombia, Indonesia, Singapore and Qatar.
The new ARSCs are strategically located near PLIDCO’s customers, which reduces turnaround, shipping time and costs. This allows them to extend the life of their PLIDCO pipeline repair fittings more quickly and cost effectively. Previously, certified refurbishment could only be conducted at PLIDCO’s facility in the U.S.
During refurbishment, products will receive sandblasting, seal replacement, fresh paint, and new PLIDCO-certified parts, such as nuts and studs. The ARSCs employ certified technicians who are fully trained at PLIDCO’s U.S. factory to properly conduct refurbishments and provide excellent customer service.
“PLIDCO products are engineered to last a very long time under extremely harsh conditions. With proper refurbishment, most of our pipeline fittings can have a second life or more, provided that they haven’t been welded directly to a pipeline,” said Ernie Lackner, PLIDCO’s director of sales and marketing. “The global refurbishment centers were established in direct response to our customers’ requests, and we expect to establish more ARSCs in the future.”
In addition to refurbishment, PLIDCO fittings can be completely reconditioned. This must be conducted at PLIDCO’s U.S. facility and includes refurbishment services, plus repairs and hydro testing. All reconditioned pipeline fittings receive a new five-year limited warranty, the only such warranty provided in the pipeline industry.
About PLIDCO®
The leader in pipeline repair fittings since 1949, the Pipe Line Development Company (PLIDCO) earns customer loyalty by producing innovative solutions that minimize costly shutdowns and assure worker safety. PLIDCO is the number-one source for safe, reliable pipeline leak repair and maintenance products, with a vast portfolio of hundreds of thousands of fittings that are sold and installed around the world. Its products are backed by the industry’s only five-year limited warranty and an ISO 9001 certified quality program. To learn more, visit www.PLIDCO.com.
Savannah Mroczka
Roop & Co.
440.334.4432
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DUBLIN--(BUSINESS WIRE)--The "Global Renewable Diesel Market: Analysis By Production, By Consumption, By Feedstock (Tallow, UCO, Corn Oil, Fish Oil, and Other), By Region Size and Trends with Impact of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
The global renewable diesel market by production has reached 2.61 billion gallons in 2021. The market is expected to reach 7.45 billion gallons per year by 2027.
The global consumption of renewable diesel has increased to 2.70 billion gallons in 2021 and is expected to reach 6.89 billion gallons by 2027. Renewable diesel is a hydrocarbon that is chemically equivalent to petroleum diesel and can be used as a drop-in biofuel and can be transported in petroleum pipelines and sold at retail stations with or without blending with petroleum diesel.
The mounting environment-friendliness, renewability, and biodegradability of renewable diesel would be the main factor driving the growth of the market in the coming years.
Also, the renewable diesel industry is set to grow with fuel refiners looking for alternative growth paths in a low-carbon world. Renewable diesel production is expected to grow at a CAGR of 19.09% during the forecast period of 2022-2027.
Whereas, consumption is expected to grow at a CAGR of 16.95% during the projected years.
Market Segmentation Analysis:
By Production
The report provides insight into the renewable diesel market's production based on the regions namely Europe, North America, and Asia Pacific. Europe held the highest share of more than 45% in the market in 2021, followed by the North America and Asia Pacific region.
Europe has historically been the largest market for the product due to early acceptance of the product in the region as well as government emphasis on replacing carbon-emitting sources with bio-based sources. One of the major reasons for the growth of renewable diesel production was the adoption of the Renewable Energy Directive (RED) II.
In 2021, the US was the sole producer of renewable diesel in the North American region. Renewable diesel capacities are going through a phase of rapid expansion in the US, led by global refiners retrofitting existing fossil fuel refineries to process renewable feedstock.
Asia-Pacific's decarbonization efforts are likely to determine the scale of adoption of renewable diesel. Emerging interest in sustainable energy resources would emphasize the adoption of renewable products, which is expected to increase the demand for renewable diesel and thereby contribute to its capacity growth in Asia.
By Consumption
The report provides a glimpse of the consumption of renewable diesel around the world. North America, Europe, and the Asia Pacific are the three geographic regions that contribute to the global market for renewable diesel based on consumption.
Based on consumption, the European market has been segmented into the following regions: Germany, Italy, France, Spain, the UK, and the Rest of Europe (ROE). By using a minimum of 14% of renewable energy in road and rail transport by 2030, renewable diesel is expected to be used as an alternative for refineries to meet Europe's renewable energy directive-II (RED-II) goals, leading to market growth.
In North America, Canada's Clean Fuel Standard is expected to boost renewable diesel use in the coming years. The program aims to achieve 30 million tons of annual reductions in greenhouse gas (GHG) emissions by 2030. The Asia Pacific renewable diesel market can be segmented into the following regions based on consumption: China and Indonesia. It is anticipated that Indonesia would be the main consumer of renewable diesel by the end of 2027, with the highest CAGR.
By Feedstock
The US renewable diesel market production is further bifurcated based on the feedstock: Tallow, UCO (Used Cooking Oil), Corn Oil, Fish Oil, and Others. In 2021, the tallow held the major share in the US renewable diesel market owing to its properties like the high centralized generation in slaughter/processing facilities and comparatively low prices. Corn oil is expected to grow at the highest rate in the forthcoming years. The low carbon feedstock market is experiencing surging demand and higher prices.
Market Dynamics:
Growth Drivers
The global renewable diesel market has been growing over the past few years due to the factors such as growing motor vehicle production, rising carbon emission, depletion of fossil fuels, growing aviation industry, policy support for renewable diesel, increasing investment in renewable diesel, etc. The increasing threat of fossil fuel depletion and the need to include renewable sources of energy in the energy mix for sustainable growth is anticipated to drive the demand for renewable diesel.
Also, renewable diesel costs more to produce than conventional fossil diesel, and therefore policy support is necessary to make renewable diesel production commercially viable. The most important US policy instruments for renewable diesel producers are the Renewable Fuel Standard, the biomass-based diesel blenders tax credit, and state level incentives for decarbonizing transportation fuel such as the California Low Carbon Fuel Standard and the Oregon Clean Fuels Program.
Challenges
However, the market has been confronted with some challenges specifically, insufficient availability of feedstocks, problems associated with the quality control of renewable diesel, difficulty in finding the right place to produce renewable diesel, availability of substitutes, etc.
Trends
The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as increasing energy consumption, a structural shift to renewable diesel, more economic in nature, increasing acceptance of eco-friendly fuel, etc.
Biodiesel and renewable diesel are set to become increasingly important in decarbonizing the diesel transportation sector as intensifying focus on climate change and legislations toward greenhouse gas (GHG) reduction bring new growth drivers to the transportation and biofuel markets.
Impact Analysis of COVID-19 and Way Forward:
The global renewable diesel market has experienced positive growth during the pandemic. In 2020, fuel use declines in heavy-duty commercial vehicles were less severe, offsetting declines in light-duty passenger use of diesel and providing relative stability to the distillate market as compared to the light-duty fuels market which was fully impacted by lockdown measures.
In 2021, renewable diesel demand further increased as the road transport sector rebounded. In the post-COVID era, factors such as government support for the consumption of renewable diesel by providing subsidiaries and growing demand for eco-friendly fuels that reduce greenhouse gas emissions are anticipated to drive market growth.
Competitive Landscape:
Renewable diesel production capacity is currently increasing rapidly, not just in the US but around the world. In 2022, Diamond Green Diesel LLC has a production capacity of 982 million gallons per year whereas, the renewable energy group has a production capacity of 100 million gallons per year. In the US renewable diesel market, Neste held the highest market share, followed by DGD.
The global renewable diesel market is moderately consolidated. The key players in the global renewable diesel market are:
Key Topics Covered:
Renewable Diesel: An Overview
Market Dynamics
Growth Drivers
Challenges
Market Trends
Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/4p9lml
ResearchAndMarkets.com
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Group emerges as new polling shows strong support for offshore wind
WASHINGTON--(BUSINESS WIRE)--Turn Forward, an independent, non-profit offshore wind advocacy organization, launched today to advance a shared, multi-stakeholder vision for American offshore wind power that meets today’s climate, economic, equity and environmental challenges. The new organization will work with a broad array of stakeholders to build momentum for policies and projects that significantly expand offshore wind generation, deliver game-changing benefits to workers and communities, and protect marine and coastal resources.
Turn Forward’s launch comes as new poll results show strong support for offshore wind development, even among U.S. residents in coastal communities who stand to be most directly impacted by the emerging energy source. Conducted by Nexus Polling, the poll found that seven in 10 coastal voters support expanding offshore wind energy, with majorities seeing it as beneficial for addressing climate change and improving the economy. When respondents were asked whether they support expansion in places near where they live, support remained strong, with two-thirds in favor. 78% of respondents said visible offshore wind turbines 10 to 15 miles offshore would not change their desire to visit the beach or would make them more likely to visit. Most projects will be 15 miles or further from shore.
Turn Forward will be led by 12-year U.S. offshore wind veteran Stephanie McClellan, who founded and led the Special Initiative on Offshore Wind, which helped create the original policy pipeline for offshore wind power in the U.S. McClellan also held offshore wind leadership roles across state government, philanthropy-funded initiatives, and industry entities.
“Offshore wind is a once-in-a-lifetime opportunity for this country,” said McClellan. “It brings game-changing potential to increase clean, domestic energy production over the next decade, a critical component of America’s climate strategy. The industrial-scale development needed to build this resource can create an enormous number of enduring jobs, while helping transform communities that have borne the brunt of our historic reliance on fossil fuels.”
Turn Forward aims to work with the federal government and states to have created by 2025 a path toward generating 100+ gigawatts of offshore wind power, with strong policies in place to maximize benefits to communities and workers and ensure environmental protections as the renewable energy source is developed.
“Turn Forward will undertake a collaborative and comprehensive advocacy effort to make sure that the necessary policies, education and ground-level enthusiasm are in place to get this incredible resource built up—and built right,” said McClellan. “Our goal is to raise awareness of the transformational potential of offshore wind and work with allies across the country to drive actions that capture the potential of the unique opportunity in our midst.”
The Climate Nexus poll also revealed that a majority of respondents believe offshore wind is reliable, and expressed support for their public utilities to develop renewable energy. A majority also indicated little to no concern about the impacts of its development on tourism, ocean views, or their quality of life, with opinions divided about concern over impacts on recreational and commercial fishing. Over 50% of respondents indicated they had seen, read or heard very little or nothing about offshore wind energy in U.S. waters. The poll sampled residents along the east, west and Gulf coasts of the U.S.
Turn Forward’s Board of Advisors draws from a variety of perspectives with a stake in the outcome of offshore wind development. Founding Board members include Eddie Ahn, Executive Director of Brightline Defense; Mike Fishman, President and Executive Director of Climate Jobs National Resource Center; Collin O'Mara, President and CEO of the National Wildlife Federation (NWF); and Manish Bapna, President and CEO of NRDC (Natural Resources Defense Council).
“As we look toward the federal offshore wind auction for lease areas off California’s coast next week, with more coming in the Gulf and on the east coast, it’s clear the time is right for Turn Forward to enter the scene,” said Eddie Ahn of Brightline Defense. “Offshore wind’s ability to help address climate change in the near term may be unmatched, but those high expectations come with tremendous responsibility. Communities at the frontlines of the fossil-fuel economy could experience revitalization from offshore wind, and Turn Forward will help to achieve the real potential of this industry.”
“Offshore wind has huge potential for our climate, workers, and economy,” said Mike Fishman of Climate Jobs National Resource Center. “In communities across the country, unions are advancing a powerful pro-worker vision for offshore wind. The sheer scale and geographic potential of offshore wind in the U.S. calls for a domestic supply chain powered by millions of union jobs that revitalizes communities and reverses inequality. Turn Forward will play a critical role in deepening support for offshore wind policies that will build a more equitable, worker-centered economy.”
“More than any renewable resource emerging today, offshore wind can produce an enormous amount of clean, zero-emission electricity near major population centers,” said Collin O’Mara of the National Wildlife Federation. “We all have a role to play in making certain that responsibly-developed offshore wind fulfills its potential and helps us reach our climate goals, while protecting wildlife, engaging communities, and supporting well-paying careers every step of the way. Turn Forward will help amplify the magnitude of this opportunity and build political will to advance policies that accelerate its growth in a responsible way.”
“Offshore wind is not just good for the environment—it’s good for our economy,” said Manish Bapna of NRDC. “When developed properly, offshore wind power can create well-paying jobs and help underserved communities hardest hit by our reliance on fossil fuels without endangering ocean ecosystems. Turn Forward will be key to harnessing the full potential of this valuable resource blowing right off our shores.”
For more information about Turn Forward, visit turnforward.org. The full results of the Climate Nexus / Turn Forward offshore wind poll can be found here.
Sydney Sanders
248.464.0125
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Combining highly accurate rate analytics with the industry’s premier digital customer experience platform will help customers understand the impact of their actions and save energy
OAKLAND, Calif. & IRVINE, Calif.--(BUSINESS WIRE)--GridX, the leading enterprise rate platform provider to modern utilities, and SEW, the world’s leading and trusted provider of digital customer and workforce experience platforms to utilities, today signed an agreement to integrate GridX with SEW’s Digital Customer Experience (CX) Platform – Smart Customer Mobile® (SCM®). Combining GridX’s ability to tell customers the exact value of their clean energy decisions with SEW’s industry leading customer experience platform, powered by AI/ML/IoT, will help to drive customer adoption of new rates and programs, enabling utilities to achieve their clean energy goals.
Utilities are turning to technology that helps them build meaningful customer relationships through personalized experiences. Part of that is helping people understand how their clean energy purchases and actions will impact their energy bill. GridX’s rate analytics calculates, with a high degree of accuracy, how selecting a new time of use rate, buying an electric vehicle, installing solar, and more, will translate into dollars and cents. Communicating this information in real time across a range of SEW’s engagement touchpoints will help people save energy and adopt clean energy technology, all of which contribute to utility decarbonization and sustainability goals.
“I’ve long admired SEW’s mission to engage, empower and educate billions of people, and build a sustainable tomorrow,” said Scott Engstrom, Chief Customer Officer, GridX. “It is very much aligned with our focus, which makes me very excited about this partnership. To help people make the right choices about their energy use, it’s critical they know the cost of those decisions. Together we can now communicate that to energy customers everywhere.”
SEW’s Smart Customer Mobile is the #1 Digital CX platform for electric, water, and gas utilities worldwide and harnesses the power of digital to better address customer needs and build future-ready businesses. The platform delivers a seamless user experience by engaging customers in real time with notifications and alerts sent across email, text, IVR and chatbots and drive digital self-service. Under terms of the partnership with GridX, SEW will now be able to send customers the detailed cost insights they crave.
“I’m excited to partner with GridX and look forward to a fruitful relationship. Getting relevant and personalized data in the hands of customers when and where they want it is an imperative to build closer and meaningful customer relationships. Utilities in their clean energy journey need to empower customers with relevant and meaningful insights, which today’s CX platforms need to support,” said Deepak Garg, CEO and Founder, SEW. “By integrating their detailed cost insights with our leading customer experience platforms, we are improving the utility’s ability to engage customers, drive energy savings and get more clean energy technology into people’s homes.”
About GridX, Inc.
GridX partners with utilities and energy suppliers to transform their businesses and accelerate the clean energy transition. The company’s Enterprise Rate Platform helps these organizations to develop new products and business models to achieve their clean energy goals; quickly operationalize new offerings in their billing and settlement processes; and better engage with their customers for broader program adoption. GridX’s platform is used by leading utilities, retail energy suppliers and energy ecosystem OEMs to serve more than 25 million homes and businesses. For more information, visit www.gridx.com.
About SEW
SEW with its innovative and industry-leading cloud platforms, delivers the best Digital Customer Experiences (CX) and Workforce Experiences (WX), powered by AI, ML, and IoT analytics, to global energy, water, and gas providers. At SEW, the vision is to Engage, Empower, and Educate billions of people to save energy and water, partnering with businesses to deliver platforms that are easy-to-use, integrate seamlessly, and help build a strong technology foundation that allows them to become future ready. For more details, visit www.SEW.ai
Brad Langley
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Global investment leader selects AWS as a preferred cloud provider to gain business insights, improve workplace safety, and automate hydroelectric, wind, and solar operations
Brookfield Renewable agrees to provide clean energy capacity to power Amazon’s operations on three continents
LAS VEGAS--(BUSINESS WIRE)--At AWS re:Invent, Amazon Web Services, Inc. (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), today announced that Brookfield Asset Management (NYSE: BAM, TSX: BAM.A), one of the world's leading investors in renewable power, has selected AWS as a preferred cloud provider to accelerate its digital transformation and become a more data-driven company in the cloud. Brookfield migrated its legacy systems to AWS and is using AWS’s analytics, containers, Internet of Things (IoT), machine learning, and storage capabilities, as well as AWS’s extensive partner network, to modernize its technology infrastructure, optimize operations, and boost innovation.
In addition to its agreement with AWS, Brookfield Renewable, a subsidiary of Brookfield Asset Management and one of the world’s largest publicly traded renewable power platforms, will provide 601.6 megawatts (MW) of clean wind and solar energy capacity to power Amazon’s operations in Europe, North America, and India. In total, these projects are expected to generate 1,370 gigawatt-hours (GWh), which is enough to power more than 120,000 U.S. homes per year.
“Our partnership with Amazon is a tremendously exciting example of companies working together to reach net zero,” said Ruth Kent, chief operating officer at Brookfield Renewable. “AWS is helping us modernize our operational systems, giving us the scalability, reliability, and innovation we need to deliver clean energy around the world. In return, Brookfield Renewable will provide renewable power to Amazon on three continents, which will help Amazon stay on path to power its operations with 100% renewable energy. We look forward to seeing what more this partnership can bring in the future.”
Working with AWS Professional Services, AWS Managed Service Provider (MSP) BDO Lixar, and AWS Partner Databricks, Brookfield Asset Management consolidated 40 petabytes of data in a data lake on AWS to optimize facility operations, increase production output, and improve equipment performance. Applying AWS machine learning and analytics capabilities to this data helps the company automate key aspects of its operations. These capabilities enable Brookfield to proactively manage complex commercial transactions, improve returns on assets, and reduce operating costs. Brookfield Asset Management also uses Databricks’ Lakehouse Platform on Amazon Simple Storage Service (Amazon S3) to provide a central data analytics platform that is increasing operational efficiency and reducing costs across more than 10 internal business organizations (including Trading, Risk, Origination, and Operations).
In addition, Brookfield Asset Management is implementing improved workplace safety technology, collaborating with AWS and AWS Partner Blackline Safety to provide real-time employee safety monitoring at three hydroelectric dam sites in the U.S. Employees wear Blackline’s G7 wearable safety devices, which rely on Amazon Kinesis (AWS’s service for easily collecting, processing, and analyzing video and data streams in real time) for high-speed streaming data ingestion of location and safety data into the cloud, and Amazon Redshift (AWS’s cloud data warehouse) to detect if an employee is in danger or needs assistance, thereby triggering an alert for supervisors to send help.
“Together with Brookfield Asset Management, we are advancing the use of renewable energy around the globe,” said Howard Gefen, general manager of Energy & Utilities at AWS. “Brookfield is tapping into the breadth and depth of AWS’s proven global infrastructure, services, and partner community to better harness its data, become more flexible and scalable, and gain better insights into its businesses. In addition, working with Brookfield Renewable will keep Amazon on the path to powering our operations with 100% renewable energy while adding more clean energy to grids around the world.”
The collaboration announced today keeps Amazon on track to power its operations with 100% renewable energy by 2025, five years ahead of its original 2030 commitment, and to reach net-zero carbon emissions by 2040. The committed 601.6 MW of power purchase agreements (PPAs) will provide electricity to seven Amazon projects—three in the United States (in Arkansas, Illinois, and Mississippi), three in Europe (in Spain, Northern Ireland, and Italy), and one of Amazon’s first projects in India.
About Amazon Web Services
For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud offering. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 96 Availability Zones within 30 geographic regions, with announced plans for 15 more Availability Zones and five more AWS Regions in Australia, Canada, Israel, New Zealand, and Thailand. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.
About Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia, and totals approximately 24,000MW of installed capacity and an approximately 100,000MW development pipeline. Investors can access its portfolio either through Brookfield Renewable Partners L.P. (NYSE: BEP; TSX: BEP.UN), or Brookfield Renewable Corporation (NYSE, TSX: BEPC), a Canadian corporation.
Brookfield Renewable is the flagship listed renewable power company of Brookfield Asset Management, a leading global alternative asset manager with approximately $750 billion of assets under management.
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First-of-its-kind program helps local governments plan to meet growing demand for EVs
CHICAGO--(BUSINESS WIRE)--ComEd and the Metropolitan Mayors Caucus (Caucus) today announced the inaugural cohort of communities participating in the EV Readiness Program, a unique initiative launched earlier this year to help local governments prepare to meet the growing demand for electric vehicles (EVs) and EV charging infrastructure. Funded in part with a $225,000 commitment from ComEd, the EV Readiness Program will help communities streamline policies and implement best practices for safe and effective regional transportation electrification.
EVs – which provide cost savings, environmental and health benefits for communities – continue to grow in popularity and are expected to account for 50 percent of new vehicle sales by 2030. This is thanks in large part to the increased availability of state and federal incentives, and to Illinois’ landmark Climate and Equitable Jobs Act (CEJA) passed in 2021, which calls for 1 million EVs on the road by 2030. Through programs like EV Readiness, ComEd is working with customers and community partners across the region to prepare for this influx and to help them meet goals for sustainability and EV adoption.
“Working alongside partners at the Metropolitan Mayors Caucus and others in the region, ComEd is helping eliminate barriers so that our communities from every corner of northern Illinois have a chance to access the benefits of EVs, which lower tailpipe emissions and bring cleaner air into our communities,” said ComEd CEO Gil C. Quiniones. “Congratulations to the inaugural cohort of the EV Readiness Program. We look forward to working together so that more Illinois residents can unlock the benefits of EVs safely and equitably.”
Program participants will focus on policy development related to EV infrastructure, permitting, and safety, and support community engagement. Additionally, by building local capacity for EV integration, this program will help remove barriers that smaller communities may face in vying for state and federal funding to expand EV charging infrastructure – a key component to ensuring equitable access to EVs for residents across the region.
“The EV Readiness Program is the first of its kind, and working together across the region is not new to us,” said Kevin Burns, Caucus Environment Committee and Energy Subcommittee Chairman. “Members of the Metropolitan Mayors Caucus have successfully collaborated to create the first Climate Action for the Chicago Region and to advance solar adoption in a similar cohort-based manner. ComEd is just the right partner to leverage our strengths as local government to achieve EV Readiness.”
The first cohort selected by the Caucus includes a diverse mix of 16 communities across the region:
Through the program, EV Readiness cohort members will follow a pathway toward EV Ready Bronze, Silver, or Gold designation, achieving status by taking action in several categories related to EV adoption and infrastructure.
“Our aim is to make it faster, easier, and more affordable for our residents and businesses to install EV charging stations in our community,” said City of Darien Mayor Joe Marchese. “Darien has adopted the Greenest Region Compact, our region’s consensus sustainability pledge. The EV Readiness Program will help us achieve the sustainable transportation goals in the Compact.”
“We are thrilled to be a part of the first EV Readiness Program cohort,” said Village of Maywood Mayor Nathaniel George Booker. “We hope our work to become EV ready will guide future investments in EVs and EV charging infrastructure in Maywood.”
“We want to ensure we are prepared for the expected surge in electric vehicles in the coming years and funding opportunities that will go along with this,” said Village of Richton Park Mayor Rick Reinbold. “Joining the EV Readiness Program will help us do just that, and it will assist us in bringing the benefits of EV technology to more Richton Park residents, regardless of where they live or what their income level is.”
Extensive input from over 300 individuals representing local governments, regional organizations, environmental organizations, and the EV industry helped inform the criteria for the EV Readiness Program. Members of the cohort begin work in early December and are expected to achieve “EV Ready Community” designation status within six to nine months. The Caucus expects a second cohort of municipalities and counties will start in 2023.
The EV Readiness Program is the latest example of how ComEd is working to help communities unlock the benefits of EVs. To support broad-based EV growth in the region, ComEd has put forward a Beneficial Electrification proposal to the Illinois Commerce Commission (ICC) that would expand investments in fleet electrification, make-ready infrastructure and other customer resources to lower barriers to electrification across the region, including but not limited to EVs. The proposal is focused on areas most disproportionately impacted by pollution, and a ruling by the ICC is anticipated early next year.
Additionally, to support residential customers with navigating EV options, ComEd has created an EV Toolkit – an all-in-one resource providing information and tips on available resources and rebates, rate plans and cost savings options, where to find charging stations, and more.
For more information on the benefits of EVs or to receive support from ComEd on an electrification project, customers are encouraged to visit ComEd’s website. For more information on the EV Readiness Program, please visit the Caucus’ website.
ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter, Instagram and YouTube.
The Metropolitan Mayors Caucus is a membership organization of the Chicago region’s 275 cities, towns and villages. Founded in 1997, the Caucus pushes past geographical boundaries and local interests to work on public policy issues. The organization provides a forum for metropolitan Chicago’s chief elected officials to collaborate on common problems and work toward a common goal of improving the quality of life for the millions of people who call the region home. For more information, visit mayorscaucus.org, and connect with the organization on Facebook, Twitter, LinkedIn and YouTube.
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Experienced SaaS CxO Will Scale Company to Meet Growing Customer and Market Demand
SANTA CLARA, Calif.--(BUSINESS WIRE)--#propelpvm--Propel Software, creator of the first product value management (PVM) platform, today named Salesforce and Accenture industry veteran Ross Meyercord chief executive officer. Ray Hein, co-founder and former CEO, will lead product and customer initiatives as the company’s first chief strategy officer. Meyercord and Hein leverage 70+ years experience to position Propel for accelerated growth as the product lifecycle management (PLM) industry reaches a strategic inflection point where rigid legacy providers are ceding market leadership to the next generation of cloud-native solutions.
Meyercord is a highly regarded SaaS executive with expertise spearheading revenue growth and scaling companies in competitive markets, including leadership roles in enterprise SaaS sales, technology, business development, and sales operations. Prior to Propel, Meyercord was Pluralsight’s Chief Revenue Officer, leading a 900-person team responsible for generating global revenue and delivering over $500M in annual recurring revenue. Meyercord also spent five years at Salesforce as Global Chief Information Officer, where he was instrumental in helping grow the company from $2.5B to more than $10B in annual revenue, and another two years as Executive Vice President of sales, where he was responsible for sales, service, and platform software to customers across all segments. Meyercord began his career at Accenture, where he spent 22 years as a consultant and partner in the Communications & High Tech group, specializing in large-scale transformational programs.
"The Board and I chose Ross because he understands our customers’ challenges from his prior experience working with manufacturers, implementing PLM and quality management (QMS) solutions, and serving as the Salesforce Global CIO,” stated Hein, chief strategy officer and co-founder of Propel. “As technology continues to drive a deeper divide between laggard and innovative product companies, Ross has real world, proven experience to help make our customers highly successful.”
“Propel is helping product companies win customers for life by offering the only true concept-to-customer product record built on a single platform,” said Meyercord, CEO of Propel. “Our pace of innovation is accelerating with the recent launches of supplier management, product information management, rich visualization, and Slack integration that enables collaboration anywhere. While our competitors are focused on replatforming old technology stacks, we are already 100% low code / no code and focused on introducing capabilities our customers need to win their markets.”
As chief strategy officer and Propel board member, Hein will lead corporate strategy by leveraging his experience in manufacturing and product development technology. Hein will extend his knowledge to customers to help them succeed by growing revenue and profit margins on the PVM platform.
”This is a great time for Propel as the cloud is taking over the manufacturing industry. On premise and outdated solutions have reached the breaking point and product companies need to modernize their technology or face obsolescence,” said Sean Jacobsohn, partner at Norwest Venture Partners and Propel board member. “Ross’ experience is the perfect complement to Ray’s industry knowledge, and their combination will help customers maximize the ROI from their investment in Propel.”
“Ross has a deep understanding of how enterprise companies create value from mission-critical cloud applications, and he knows how to scale companies across segments while retaining the core values that make them successful,” said Matt Holleran, managing partner at Cloud Apps Capital Partners and Propel board member. “He is a great CEO for Propel.”
About Propel Software
Propel helps product companies grow revenue and increase business value. Our product value management platform connects commercial and product teams to optimize decision making, drive process efficiencies, and engage customers with compelling products and experiences. Propel has a proven track record of improving product quality, speeding time to revenue and profit, and improving customer satisfaction. Recognized multiple times as a Deloitte Technology Fast 500 winner, Propel is built on Salesforce and drives product success for hyper growth startups, corporate pioneers, and Fortune 500 leaders in the high tech, medtech and consumer goods industries. For more information, visit propelsoftware.com and follow us on LinkedIn.
Samantha Chapman
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Twenty-seven schools and education-focused nonprofits in Delaware, Illinois, Maryland, Pennsylvania and the District of Columbia will receive grants totaling $868,000 to modernize or create state-of-the-art science labs
CHICAGO--(BUSINESS WIRE)--Exelon (Nasdaq: EXC), the nation’s largest energy delivery company, and the Exelon Foundation announced they will award a total of $868,000 in Green Lab Grants to 27 education-focused organizations. The grants will go toward investments in hands-on educational spaces where high school students can prepare for careers in STEM (science, technology, math and engineering).
“We are partnering with local high schools and education-focused nonprofits, providing resources that will equip young people in our communities with the critically important STEM skills necessary to succeed in family-supporting careers,” said Calvin Butler, president and chief operating officer of Exelon. “We want these students to one day work for us, and help Exelon lead the clean energy transformation.”
Public and private schools, as well as nonprofit organizations that run out-of-school programs serving Title I-eligible students, can apply for Green Lab Grants of up to $50,000 each. The Museum of Science and Industry, Chicago, conducts an independent review of grant applications and administers the program, which benefits organizations based in Exelon’s service territories in Delaware, Illinois, Maryland, New Jersey, Pennsylvania and the District of Columbia.
This year’s Green Lab Grants recipients are:
Delaware
Partnership for the Delaware Estuary, Wilmington
$15,000; Mussels for Clean Water Initiative – Research Lab
District of Columbia
STEM4US!, Washington
$50,000; Green Construction Training Lab for Anacostia-area high school students
The Swaliga Foundation, Washington
$25,000; OuterSpace Lab at Potomac Gardens Housing Development
Illinois
After School Matters, Chicago
$35,000; Urban STEM space and gardening apprenticeship program
Calculated Genius, Chicago
$50,000; Free STEM lab for Chicago Public Schools students, housed at KDM Engineering
Chicago Youth Centers, Chicago
$36,000; Addition of a Green Lab to the Chicago Youth Center
Curie High School, Chicago
$15,000; Sustainability Exploration Lab addition to Curie FabLab
Current Innovation, NFP, Chicago
$40,000; Blue EDP Mobile Lab for Chicago Public Schools students
Garfield Park Conservatory Alliance, Chicago
$29,498; Urban Roots Environmental Justice Program for Al Raby High School students
Howard Area Community Center, Chicago
$33,590 Extended Reality (XR) Lab addition to the Howard Area Community Center
Morton Freshman Center, Cicero
$50,000; Garden Club and Summer Garden Program
Morton West High School, Berwyn
$3,532; Morton West/Berwyn Community Garden
National Society of Black Engineers – Chicago Professionals, Chicago
$49,950; Environmental Justice MythBusters program for high school students
The Kingdom Advancement Center Inc, Elgin
$37,788; Creation of R.I.S.E. (Research and Innovation for Scientific Excellence) Lab
Maryland
Carver Vocational Technical High School, Baltimore
$25,000; Carver High School-based waste reduction program
Fair Hill Environmental Foundation, Inc., Elkton
$8,000; Outdoor lab for grade schoolers to study the Chesapeake Bay Watershed
Girl Scouts of Central Maryland, Baltimore
$12,000; Conservation-focused robotics program for female high school students
The Community Ecology Institute, Columbia
$40,000; Green Keys Internship Program
Pennsylvania
Creative Tech Works Design Studio Inc., Philadelphia
$49,928; Agricultural Sustainability through STEM Education & the Internet of Things (ASSET)
Eddie’s House, Philadelphia
$38,000; Partnership with Swarthmore College to educate facility residents about future careers in the electric vehicle industry
Girls Inc. of Greater Philadelphia & Southern New Jersey, Philadelphia
$50,000; Dedicated STEM lab with a mobile STEM station for female high school students
Imhotep Institute Charter High School, Philadelphia
$40,000; Vertical hydroponics farm
John Bartram Association (doing business as Bartram's Garden), Philadelphia
$15,000; Youth STEM programming at Bartram’s Garden
Norristown Zoological Society (doing business as Elmwood Park Zoo), Norristown
$15,000; Ninth Grade Zoo STEM Careers Development Course
The Academy of Natural Sciences of Drexel University, Philadelphia
$28,000; Continued work of the Women in Natural Sciences & the Urban Nature Lab
The City School, Philadelphia
$38,000; TCS Hydroponic STEM Lab
Widener University, Chester
$38,000; Mobile Green Labs (follow up to Next Generation Scientists Summer Camp)
Launched in 2021, Green Lab Grants is an annual program with a new set of awardees selected each year.
The Green Lab Grants program is one of several Exelon initiatives that support education and workforce development. The annual Exelon Foundation STEM Leadership Academy gives teen girls ages 16-19 from diverse and low-income communities the opportunity to learn from women working in STEM and other leaders; explore sustainability, energy efficiency, renewable energy, and climate change; and connect with like-minded peers. Through a $1 million per year scholarship program launched in 2021, Exelon Foundation STEM Leadership Academy alumnae can apply for scholarships to cover costs associated with college. Earlier this year, the Exelon Foundation committed $2.4 million in scholarships to 24 college freshmen selected for the company’s HBCU Corporate Scholars Program, launched in partnership with UNCF (United Negro College Fund), to provide scholarship assistance, internship experiences and early-career readiness training to students attending historically Black colleges and universities.
In addition to these and other education programs for students, Exelon creates and supports workforce academies to prepare youth and work-ready adults for family-supporting careers. All told, Exelon and its energy delivery companies — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco — have more than 75 unique workforce development programs designed to bring economic equity, empowerment and employment opportunity to under-resourced communities.
More information about Exelon’s culture of corporate citizenship is available at exeloncorp.com.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.
Liz Keating
Corporate Communications
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Ridesourcing services don’t affect all cities the same way, and the differences are important for shaping policy.
PITTSBURGH--(BUSINESS WIRE)--Over the last decade, the meteoric rise of ridesourcing services like Uber and Lyft have transformed the urban landscape, affecting travel patterns, car ownership, and congestion, and more broadly, the economy, the environment, and equity.
The ways in which Uber and Lyft are redefining mobility is the focus of a new policy brief series, “Uber and Lyft in U.S. Cities: Findings and Recommendations from Carnegie Mellon University Research on Transportation Network Companies (TNCs).”
The brief series, a compilation of studies conducted by Jeremy Michalek, the lead author, and other Carnegie Mellon Engineering researchers, delves into the implications and opportunities that TNCs present.
“It is important for us to understand whether TNCs are providing social benefits and whether cities should have a friendly or more skeptical posture toward them,” says Michalek, professor of engineering and public policy and mechanical engineering.
On the plus side, the researchers found that TNCs have increased economic growth, employment, and wages for intermittent jobs in U.S. cities.
“However, Uber and Lyft affect different kinds of cities differently, and that is important to understanding their impact,” explains Michalek.
For example, TNCs are not a reliable way to reduce car ownership. When TNCs entered U.S. cities, car ownership increased in car-dependent and slow-growth cities, and TNCs displaced transit ridership most in cities with high income and fewer children.
The costs that Uber and Lyft impose on cities are not clear-cut, either. The research reveals that Uber and Lyft can clean the air but clog the streets. Taking an Uber instead of a personal vehicle can reduce air pollution costs by 9 to 13¢, but the extra driving to and from passengers increases costs from congestion, crash risk, and climate change by about 45¢. “You create lower external costs to society when you drive your personal vehicle, on average,” says Michalek.
Responding to environmental concerns and public interest, Uber and Lyft have committed to electrify more vehicles in the future, but policy interventions to encourage electrification of TNC fleets may still be warranted. The researchers conducted simulations and found that when TNCs are faced with the air emissions costs that their fleets impose on society, they electrify more of their fleets. This was shown to reduce air emission costs by 10% in New York City and up to 22% in Los Angeles. The researchers note that the best fleet is typically a mix of electric and gas-powered vehicles.
Finally, the brief considers the capacity for Uber and Lyft to reveal and potentially address societal inequities. In one study, the researchers examined TNC ridership during heatwaves in New York City in 2019 and found that ridership increased more in high-income neighborhoods than in low-income neighborhoods, suggesting that low-income riders are subject to endure more extreme heat and humidity.
“We’ve been doing a lot of work on Uber and Lyft over the past six years, and this brief series provides a compact summary of what we have learned and what we recommend–both for cities and for travelers wishing to reduce negative effects of their travel choices on society,” says Michalek.
About the College of Engineering: The College of Engineering at Carnegie Mellon University is a top-ranked engineering college that is known for our intentional focus on cross-disciplinary collaboration in research. The College is well-known for working on problems of both scientific and practical importance. Our “maker” culture is ingrained in all that we do, leading to novel approaches and transformative results. Our acclaimed faculty have a focus on innovation management and engineering to yield transformative results that will drive the intellectual and economic vitality of our community, nation, and world.
About Carnegie Mellon University: Carnegie Mellon, cmu.edu, is a private, internationally ranked research university with acclaimed programs spanning the sciences, engineering, technology, business, public policy, humanities, and the arts. Our diverse community of scholars, researchers, creators, and innovators is driven to make real-world impacts that benefit people across the globe. With a bold, interdisciplinary, and entrepreneurial approach, we do the work that matters.
Sherry Stokes
412-268-5976
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DUBLIN--(BUSINESS WIRE)--The "GCC Well Testing Services Market, By Services (Real Time Well Testing, Downhole Well Testing, Reservoir Sampling, & Surface Well Testing), By Application (Onshore & Offshore), By Stage, By Region, Competition Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
GCC well testing services market is anticipated to grow at a rate of formidable CAGR in the forecast period, 2023-2027
The GCC well testing services market is segmented on the basis of services, application, stage, regional distribution, and company. To analyze the market based on the country, the GCC well testing services market is studied in countries namely Saudi Arabia, UAE, Oman, Kuwait, Qatar and Bahrain.
Increasing energy demands worldwide are fueling the need for exploration and production activities. High-end investments in energy extraction and production by market players and concerned authorities and the use of advanced technologies and equipment to maximize the profit and minimize the losses are anticipated to fuel the GCC well testing services market in the next five years.
Rapid industrialization, improvement in the economic conditions, and the continuous rise in the population are increasing the energy demand worldwide. The growing disposable income of middle-class families is boosting the expenditure capacity of the consumers to buy advanced consumer electronic goods and automobiles for their enhanced comfort and convenience. Oil consumption is increasing day by day, and the demand for natural gas is witnessing a hike worldwide.
High demand for fossil fuel from around the globe is making the market players increase their fuel production. Existing oil and gas reserves are aging rapidly, making the market players boost their search for unexplored hydrocarbon reserves. Fewer easy-to-access oil fields remaining across the globe are making the companies move into new areas and accelerate exploration activities in deep water and ultra-deepwater offshore regions.
The high demand to explore and produce in deepwater areas and search of new explored reserves are expected to create lucrative opportunities for the GCC well testing services market growth in the forecast period.
The oil and gas industry are considered as one of the major revenue-generating industries and the backbone of GCC economy. The global oil industry is making investments in research and development activities to find innovative solutions to sustain oil and gas production volume.
The discovery of unconventional shale and tight oil and gas is witnessing exploration and commercialization of unconventional reserves. The presence of huge capital sources makes the exploration through unconventional sources a viable option as it requires the use of advanced technologies for extraction purposes.
Market players are looking for economic opportunities to maximize their profits which is one of the primary reasons for adopting advanced well testing services by the oil and gas industries.
Decreasing conventional sources and growing gas deficits are driving the monetization of unconventional oil and gas reserves in GCC economies which is expected to create lucrative opportunities for the GCC well testing services market.
Objective of the Study:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in GCC well testing services market.
Report Scope:
Years considered for this report:
GCC Well Testing Services Market, By Services:
GCC Well Testing Services Market, By Application:
GCC Well Testing Services Market, By Stage:
GCC Well Testing Services Market, By Country:
For more information about this report visit https://www.researchandmarkets.com/r/slfe1i
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Laura Wood, Senior Press Manager
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ROSH HAAYIN, Israel--(BUSINESS WIRE)--$BNRG--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, today announced it entered into a securities purchase agreement with certain investors, part of which are existing shareholders of the Company, including Mr. Avraham Brenmiller, a controlling shareholder, Chairman and Chief Executive Officer of the Company, for aggregate gross proceeds of approximately NIS 10.6 million ($3.1 million). The private placement is subject to the approval of the Company’s shareholders in a special meeting that is expected to occur in or around January 2023.
In connection with the private placement, the Company will issue units (each a “Unit”) consisting of one ordinary share of the Company and one non-registrable and non-tradeable warrant, for a total of 1,996,359 ordinary shares and 1,996,359 associated warrants at NIS 5.33 ($1.55) per share (reflecting a 4% premium on the market price at close on November 28, 2022). The warrants are exercisable on the issuance date of each Unit with a premium of 15% on the share price, representing an exercise price of NIS 6.13 ($1.78) per warrant, and have a term of five years from the issuance date.
The securities described above are being sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the “SEC”) or an applicable exemption from such registration requirements. The investors received piggyback registration rights for their ordinary shares and associated warrants. The Company has agreed to file a registration statement with the SEC to register the resale of the warrant shares thirty (30) days after becoming shelf eligible. Upon effectiveness of such registration statement, the aforementioned piggyback rights shall expire.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Brenmiller Energy
Brenmiller Energy delivers scalable thermal energy storage solutions and services that allow customers to cost-effectively decarbonize their operations. Its patented bGen thermal storage technology enables the use of renewable energy resources, as well as waste heat, to heat crushed rocks to very high temperatures. They can then store this heat for minutes, hours, or even days before using it for industrial and power generation processes. With bGen, organizations have a way to use electricity, biomass and waste heat to generate the steam, hot water and hot air they need for a variety of applications, including, for example, to mold plastic, process food and beverages, produce paper, manufacture chemicals and pharmaceuticals or drive steam turbines without burning fossil fuels. For more information visit the company’s website at https://bren-energy.com/ and follow the company on Twitter and LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the anticipated closing of the private placement described herein, the Company’s upcoming extraordinary special meeting, and the filing of a resale registration statement. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, the Company’s planned level of revenues and capital expenditures, the demand for and market acceptance of our products, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's prospectus dated May 24, 2022 filed with the SEC, which is available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
U.S. Investor Contact:
Chase Jacobson, Vallum Advisors
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+1 980-265-2597
Media Contact:
Isaac Steinmetz
Antenna for Brenmiller Energy
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Over 30 early adopters enroll in the new rating, which empowers organizations to take evidence-based actions to advance diversity, equity, inclusion and accessibility, and prioritize employee health for all
NEW YORK--(BUSINESS WIRE)--The International WELL Building Institute (IWBI) announced today the launch of the WELL Equity Rating, a new rating designed to help organizations act on their diversity, equity, inclusion and accessibility goals, and improve company culture and employee health. Over 30 leading organizations – including AvalonBay Communities, Canderel, Empire State Realty Trust, JLL, Overbury, Shaw Industries and the State University of New York (SUNY) College of Environmental Science and Forestry – have already enrolled in the rating, demonstrating their commitment to creating places where everyone has an equal opportunity to thrive.
By providing an evidence-based roadmap, the WELL Equity Rating empowers organizations to better address the needs of marginalized and underserved populations and take an action-oriented approach to creating equitable, people-first places. The rating includes more than 40 features spanning six action areas: user experience and feedback, responsible hiring and labor practices, health benefits and services, supportive programs and spaces, and community engagement. The rating validates an organization’s actions to advance health and well-being; celebrate diversity, equity, inclusion (DEI) and accessibility; and promote sensitivity while addressing disparities in populations that have been traditionally marginalized or underserved.
“Organizations worldwide are embracing the powerful role place can play in leveling the playing field and ensuring everyone feels welcome, seen and heard,” said Rachel Hodgdon, President and CEO, IWBI. “Many organizations have made commitments to DEI, but precious few have a roadmap for activation. The WELL Equity Rating is a transformative new offering that empowers organizations to make good on their promises— with evidence-based strategies and actions that improve and strengthen company culture, advance DEI goals and address disparities in underserved populations.”
For two years, IWBI has been collaborating with its Health Equity Advisory, learning from more than 200 participating expert Advisors from 26 countries. A prestigious group of more than 40 co-chairs led the Advisory, lending their tremendous knowledge and expertise in health equity, DEI, community building and belonging, and accessible design. The development process also included feedback and input from others with lived experience who represent the target populations prioritized by the rating. These include BIPOC (Black, Indigenous and other people of color), first-generation immigrants, LGBTQ+ individuals, primary caregivers and people who are physically disabled and/or neurodivergent.
“Equity and health go hand-in-hand. This rating is all about making equitable opportunity actionable, designing healthier places that are accessible to everyone, and delivering on the promise of a global culture of health and belonging,” said Kimberly Lewis, Executive Vice President of Equity, Engagement and Events, IWBI. “Because, as we know, equity is the very foundation to healthier, stronger and thriving organizations.”
Multiple studies show that employees in diverse and inclusive workplaces are more likely to innovate, enjoy their jobs, work harder, and ultimately stay with their employers for longer. Diverse organizations have also been found to be 1.32 times more productive and 21 percent more profitable than their peers. The WELL Equity Rating offers organizations a tangible path forward to help them follow through on their DEI commitments and transform how workplaces are designed, managed and operated to create environments where everyone can thrive and show up as their authentic selves.
Coinciding with the launch, in a show of leadership, over 30 organizations representing a variety of different sectors have already enrolled to pursue the WELL Equity Rating across over 1,000 locations.
They include:
Equity is a core tenet of the WELL Building Standard; the majority of the features in the WELL Equity Rating were drawn from existing WELL strategies, each backed by research that demonstrates more equitable outcomes for one or more of the target populations. With the help of the Health Equity and WELL Concept Advisories, IWBI also developed new beta features and parts to strengthen the new offering. This new designation will add to the suite of IWBI offerings that includes the WELL Health-Safety Rating and the WELL Performance Rating. Each rating can be earned as a stand-alone designation or milestone toward a place-based WELL Certification or an organization’s WELL Score.
“By driving accountability and action, the WELL Equity Rating will serve as an important tool to help organizations actualize their DEI commitments, live their values and effect lasting change,” said Dr. Angelita Scott, Director and Community Concept Lead at IWBI, who also served as principal architect of the rating. “We are so grateful to all our advisors and stakeholders from around the world with different backgrounds, expertise and lived experiences who supported this effort. It’s because of their vision, input and dedication that we were able to create a third-party verified solution that will uplift historically excluded voices, enhance ESG performance and improve organizational outcomes.”
In September, IWBI’s Governance Council, the leadership body tasked with upholding the integrity of WELL through rigorous standard development criteria, unanimously ratified the WELL Equity Rating. The Governance Council is made up of distinguished global thought leaders, doctors, public health professionals and business executives, such as Dr. Richard Carmona, the 17th U.S. Surgeon General; Cheryl Durst, President and CEO of the International Interior Design Association (IIDA); Dr. Yao Wang, Director General of the International Institute of Green Finance; Alison Omens, Chief Strategy Officer at Just Capital; Mona Naqvi, Global Head of ESG and Capital Markets Strategy at S&P Global; and Nancy Roman, President and CEO of Partnership for a Healthier America.
Here’s what some early adopters are saying about the WELL Equity Rating:
"ESF's commitment to the WELL Equity Rating was a resounding ‘yes’ as we work to improve and provide equitable access to the health and well-being of our campus. The rating will guide us in acknowledging populations that have been traditionally underrepresented and promoting inclusivity while celebrating the diversity that makes this campus so vibrant and successful," said SUNY College of Environmental Science and Forestry President Joanie Mahoney. "We appreciate IWBI's work and guidance in creating this rating and continuing to lead the way in putting people first."
"At Shaw, we strive to create a better future and a better world. A world in which we collectively value and invest in the health, well-being and success of all people AND our planet. A future that's safe and safeguarded for generations to come,” said Kellie Ballew, Vice President, Global Sustainability and Innovation, Shaw Industries. “The WELL Equity Rating aligns with that commitment and stands to provide external validation of our efforts."
"Ivanhoé Cambridge is proud to be part of the early adopters of the WELL Equity Rating. As a responsible real estate leader, we look at our spaces through both the investor and the employer lenses,” said Sunita Mahant, Head of Social Impact and Inclusion, Sustainable Investment at Ivanhoé Cambridge. “Our participation solidifies our commitment to creating inclusive spaces. When people walk into our buildings, we want them to feel a sense of belonging. This starts with our own employees – which is why we are kicking off our involvement with our own headquarters in Montréal.”
"Diversity, equity and inclusion (DE&I) sheds light on the needs and priorities of underserved and underrepresented populations who are some of the most valuable members of our community,” said Raymond Rufino, CEO of NEO. “We are still at the start of our DE&I journey but welcome the roadmap that the WELL Equity Rating provides to ensure that our organizations and spaces are safe, respectful and welcoming for each and every person. We’re excited to be an early adopter of the rating and hope many other companies join the journey."
“Green Building Holdings (GBH) together with our four business units at SIG, BlueO, GBES, and Aetos are continually evaluating our DEI efforts across the greater company,” said Beka Rund, Head of People, Green Building Holdings. “We are excited to adopt the WELL Equity Rating to compliment, measure, and evaluate our company for continual improvement. It is our goal to have an inclusive culture and to lead by example for our company and the greater industry.”
“The WELL Equity program provides proven strategies to inform and validate AHA’s commitment to our employees and prospective employees,” said Adam Jennings, Director of Energy, Sustainability & Commissioning, AHA Engineers. “The effects extend well beyond AHA through our service and the services we offer our clients and community.”
About the International WELL Building Institute
The International WELL Building Institute (IWBI) is a public benefit corporation and the world’s leading organization focused on deploying people-first places to advance a global culture of health. IWBI mobilizes its community through the administration of the WELL Building Standard (WELL) and WELL ratings, management of the WELL AP credential, the pursuit of applicable research, the development of educational resources, and advocacy for policies that promote health and well-being everywhere. More information on WELL can be found here.
International WELL Building Institute pbc is a wholly owned subsidiary of Delos Living LLC. International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL Portfolio, WELL Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rating, WELL Health-Safety Rated, WELL Equity, WELL Performance Rated, WELL Performance Rating, Works with WELL, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries.
Note to Editors:
WHAT DOES HEALTH EQUITY MEAN?
Our vision aligns with the Robert Wood Johnson Foundation’s definition of health equity where “everyone has a fair and just opportunity to be as healthy as possible.” Unlike equality, which involves giving everybody the same thing, equity “recognizes that each person has different circumstances and allocates the exact resources and opportunities needed to reach an equal outcome."
We support positive and preventative health factors in the belief that health is not just the absence of disease, but intimately bound up in a person’s ability to thrive. We recognize that people benefit from this “state of balance” resulting from optimal living in mind, body and spirit, and feel “content, connected to purpose, people and community."
Fulfilling this mission means recognizing that many health disparities are rooted in systemic conditions and social determinants—including the way workplaces are designed, managed and maintained—that impose significant health burdens on certain underserved populations. RWJF’s definition sets equitable access to health as a key outcome, while diversity and inclusion are ways of achieving that goal.
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Yan Tai
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Proposal could lead to deployment of multiple AP1000® advanced reactors
CRANBERRY TOWNSHIP, Pa.--(BUSINESS WIRE)--Westinghouse Electric Company today submitted its proposal to support the Czech Republic’s planned expansion of its nuclear power fleet with the AP1000® reactor, the world’s most advanced, proven nuclear reactor in operation globally.
The bid, submitted with Bechtel Nuclear Power Company, proposes construction of one AP1000 unit at the Dukovany nuclear site, with the potential for another unit there and two additional units at the Temelin site. Westinghouse and Bechtel will partner with the Czech nuclear industry to fulfill key roles in procurement of equipment and construction of the reactors.
“We are proud to have the opportunity to expand on our long-term support of the Czech Republic’s nuclear industry,” said David Durham, President, Energy Systems at Westinghouse. “As the country continues moving toward a safer, cleaner and more secure energy future, our AP1000 technology is unequaled in its ability to safely decarbonize grids on a massive scale.”
“The Westinghouse-Bechtel Team offers safe, proven technology that is already licensed and operating elsewhere,” said John Howanitz, President of Bechtel’s Nuclear, Security & Environmental global business unit. “We both have current, hands-on experience building a plant using Westinghouse reactors. Combined with the excellent capabilities of the Czech nuclear industry, we believe our proposal offers excellent value.”
Two AP1000 units are preparing for start-up at the Plant Vogtle site near Waynesboro, Georgia, USA, as Bechtel completes construction. Nuclear fuel was loaded into the Unit 3 core in October and commercial operation is expected in the first quarter of 2023.
Earlier this month, the Polish government selected the AP1000 reactor to launch its first-ever nuclear energy program, announcing its intention to construct three units with the potential of adding three more units at a second location. The deployment of AP1000 technology in Poland will drive greater regional synergy that benefits the Czech nuclear program.
The AP1000 plant is the only operating Generation III+ reactor with fully passive safety systems, modular construction design and has the smallest footprint per MWe on the market. In addition to the reactors at the Vogtle site, four AP1000 units are currently setting operational performance records in China with four additional reactors under construction, and two more are planned. Nine units have been announced for Ukraine, and the technology is under consideration at multiple other sites in Central and Eastern Europe, the United Kingdom, and in the United States.
Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services 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.
Bechtel is a trusted engineering, construction and project management partner to industry and government. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers’ objectives to create a lasting positive impact. Since 1898, we have helped customers complete more than 25,000 projects in 160 countries on all seven continents that have created jobs, grown economies, improved the resiliency of the world's infrastructure, increased access to energy, resources, and vital services, and made the world a safer, cleaner place.
Bechtel serves the Infrastructure; Nuclear, Security & Environmental; Energy; and Mining & Metals markets. Our services span from initial planning and investment, through start-up and operations.
www.Bechtel.com
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DUBLIN--(BUSINESS WIRE)--The "Electrified Road for Electric Vehicle Charging Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global electrified road for electric vehicle charging market is anticipated to register growth at a robust rate in the forecast period, 2023-2027. The market growth can be attributed to the increased focus of government on building electrified roads to reduce the requirement of installing new electric vehicle charging infrastructure to boost the adoption of electric cars. As carbon emissions levels are rising at a substantial rate, government agencies across the world are enforcing regulations to cut the greenhouse gas emissions by promoting electrification in their countries.
With the growing adoption of electric vehicles, the carbon emissions can be lowered significantly. Hence, government incentives on the purchase of electric vehicles, decreased vehicle prices, enhanced vehicle range and capabilities, and growing awareness among consumers regarding vehicular pollution are contributing to the rapid adoption of electric vehicles across the world. However, electric vehicle charging remains a key concern for the users.
Therefore, now electrified roads are being built to solve the problem of lack of public electric vehicle charging infrastructure, one of the major reasons restricting electric vehicle adoption. Electrified road for electric vehicle charging is an innovative method aimed at recharging the batteries of cars and trucks when they are on the move. The electric highways can make charging faster and travel longer for electric vehicle drivers. Electric road system (ERS) is a system that facilitates power exchange between an electric vehicle and the road that it is travelling on. On the basis of how charging takes place, the electrified roads are majorly divided into three categories such as overhead conductive, conductive power transfer from the road, and inductive power transfer from road.
Growing Need to Expand Electric Vehicle Infrastructure to Boost Market Growth
Electric vehicles are considered the best option to replace traditional ICE (internal combustion engine) vehicles. In near future, the electric vehicle adoption is expected to grow significantly, with the introduction of electric vehicles equipped with batteries with high capacity and addition of more Electric Vehicle charging stations.
However, vehicles with big sizes such as electric trucks required to be recharged more frequently. Hence, electrified roads serve as the perfect solution for electric vehicle drivers who need to cover long range as they would no longer have to recharge batteries from time-to-time. The "dynamic charging" with electrified roads is anticipated to replace the existing charging methods that take more time and require a power source to plug in the vehicle. With inductive charging technology, the cost of constructing 1 km of electrified road would require approx. USD1 million, 50 times less than constructing an urban tram line.
Technological Innovations Fuel the Expansion of Electrified Roads
The dynamic (in-motion) wireless power transfer (DWPT) is a novel technology. Hence, a number of research institutions are currently analyzing and developing the technology, in areas such as electromagnetic design optimization techniques, magnetic materials, power electronic topologies, etc. Innovation in areas such as batteries, electromagnetic emissions, alignment techniques are also required to make electrified roads mainstream in coming years. Hence, private players, government are research institutes are collaborating to pioneer wireless charging infrastructure technology and enhance roadway electrification.
However, the deployment of DWPT infrastructure would require significant investments by market players and increased collaboration for the government.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Working Principle of Electrified Road for Electric Vehicle Charging
5. Ongoing Research on Electrified Road for Electric Vehicle Charging
6. Electric Vehicle Market Overview
7. Electric Vehicle Charging Infrastructure Overview
8. Global Electrified Road for Electric Vehicle Charging Market Potential, 2022-2030
9. Market Dynamics
10. Market Trends and Developments
11. Policy & Regulatory Landscape (Major Countries)
12. Companies Involved in Electrified Road for Electric Vehicle Charging
13. Future of Electric Vehicle Charging Market Potential - Qualitative Insights
14. About the Publisher & Disclaimer
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/ms89r7
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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DUBAI, United Arab Emirates--(BUSINESS WIRE)--AMEA Power, one of the fastest growing renewable energy companies in the Middle East, announced today that it has achieved the financial close to deliver 1GW of renewable energy projects in Egypt. The landmark 500MW wind and 500MW solar projects, represent US$1.1 billion of investment into the Egyptian economy and takes the Company’s clean energy portfolio to 2GW in the country.
AMEA Power will develop, own and operate the 500MW solar PV plant, which will be located in the Aswan governorate of Egypt. The Project is being financed by International Finance Corporation (IFC), part of the World Bank Group, Dutch Entrepreneurial Development Bank (FMO) and the Japan International Cooperation Agency (JICA).
The 500MW wind farm, located in the Red Sea Governorate, is being developed in partnership with Sumitomo Corporation, who will own 40% equity in the Project. Financing is being provided by a consortium of banks, including Japan Bank for International Cooperation (JBIC) and IFC, together with Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, and Sumitomo Mitsui Trust Bank participating as co-lenders under Nippon Export and Investment Insurance (NEXI) cover.
Both projects have already secured Power Purchase Agreements (PPAs) with the Egyptian Electricity Transmission Company (EETC) and Usufruct Agreements, with the New and Renewable Energy Authority (NREA) having already completed its feasibility studies.
Hussain Al Nowais, Chairman of AMEA Power, said: “These landmark projects reflect the long-term commitment, ambition and growth of AMEA Power. The Company is leading the development of renewable energy across Africa, which through its global and regional partnerships, will deliver clean energy to millions of people around the continent.
“We are proud to reach this significant milestone and to be supporting Egypt in its energy transition journey and drive to accelerate sustainable development. Today’s achievement would not have been possible without the hard work of AMEA power’s world class team, the support of our project partners, lenders, advisors and the cooperation of the Egyptian government.”
The projects will underpin the renewable energy ambitions of Egypt, along with supporting economic and social development within the region. The Egyptian government is working towards increasing the supply of electricity generated from renewable sources to 42% by 2035.
“These projects highlight the private sector’s essential role helping to deliver clean, affordable power, especially at a time of growing challenges from climate change and pressures on the environment,” said Cheick-Oumar Sylla, IFC Regional Director for North Africa and Horn of Africa. “Egypt has ambitious renewable energy goals and we are proud to support AMEA’s expansion into Africa as well as its partnership with Egypt to accelerate the country’s renewable energy transition.”
AMEA Power has also recently signed a Framework Agreement with the Egyptian Government, on the sidelines of the United Nations Climate Change Conference (COP27) in Sharm El-Sheikh, to develop a large-scale green hydrogen project, which will serve as a feedstock for the production of green ammonia. Once completed, the 1GW plant will be able to produce 800,000 tons of green ammonia per year for export.
AMEA Power is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition. The Company has clean energy pipeline of nearly 6GW across 15 countries.
About AMEA Power
Headquartered in Dubai, AMEA Power is a developer, owner and operator of renewable energy projects. As one of the fastest growing renewable energy companies in the region, the company is rapidly expanding its investments in wind, solar, energy storage and green hydrogen, demonstrating its long term commitment to the global energy transition. AMEA Power has assembled a world class team of industry experts to deliver projects across Africa, the Middle East and other emerging markets.
*Source: AETOSWire
Robert Sinclair
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DUBLIN--(BUSINESS WIRE)--The "Technology Breakthroughs Enabling Battery Management Systems" report has been added to ResearchAndMarkets.com's offering.
Battery manufacturers are under constant pressure to reduce battery costs and increase energy density. To do so, they are experimenting with and commercializing batteries that have altered chemistries and producing compact battery packs. But the regular changes in battery chemistry and increased compactness may compromise the safe operation. This is why battery manufacturers are now resorting to battery management systems (BMSs). A BMS has become crucial to reduce costs, enhance usable capacity, improve performance and life, and ensure safety.
This study focuses on BMS architectures and technologies that find applications in the 4 major areas of electric vehicles, battery energy storage systems, end-of-life batteries, and battery research and manufacturing.
The research describes major technology trends, growth drivers, and restraints in the BMS industry. It also offers a detailed technology and growth opportunity analysis. It covers key stakeholders involved in the development of innovative solutions for modern BMS controllers, an analysis of the global patent landscape for modern BMS technologies, the key patent owners/applicants, and the major areas of research.
Key Topics Covered:
1. Strategic Imperatives
2. Growth Opportunity Analysis
3. BMS: An Overview
4. BMS: Technology Analysis
5. Companies to Watch
6. IP Analysis of the BMS Patent Landscape
7. Growth Opportunity Universe
For more information about this report visit https://www.researchandmarkets.com/r/wcal4d
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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