Summary of Operational Highlights
BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced its consolidated financial results for the three months ended September 30, 2022. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).
Q3 2022 Financial Highlights
(All comparisons are to Q3 2021, unless otherwise stated)
“Advent continued to make significant progress in the last quarter. Our Green HiPo project was ratified by the EU in July, which now clears the way for the Greek State to provide the appropriate funding,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “Advent has also made significant progress entering into several MoUs for new business globally. We have continued to streamline our operations which has resulted in a clear focus on core technical excellence in our key market sectors, and this has enabled us to gain commercial traction from global OEMs. Advent will actively pursue this commercial strategy, which will augment our pipeline with quality opportunities and partnerships. Along with Green HiPo, we remain confident that we are on a firm path for growth, and we look forward to keeping you appraised of future developments.”
Q3 2022 Business Updates
Inaugural Investor Day: On July 7, 2022, Advent hosted its 2022 Investor Day, where Advent’s executives and senior leadership discussed the Company’s most recent advancements with its fuel cell products and systems, hydrogen development projects, and business activities in markets across the U.S., Europe and Asia. The key areas that were addressed were:
Green HiPo Receives Ratification from the EU: On July 18, 2022, Advent announced that its Green HiPo project under the framework of the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology, received official ratification from the European Commission (“EC”) of the European Union. The ratification of Green HiPo was among 41 projects under the umbrella “IPCEI Hy2Tech” jointly prepared and notified by fifteen Member States: Austria, Belgium, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Slovakia, and Spain. The Member States will provide up to €5.4 billion in public funding, which is expected to unlock an additional €8.8 billion in private investments. As part of this IPCEI, 35 companies with activities in one or more Member States, including small and medium-sized enterprises (“SMEs”) and start-ups, will participate in these 41 projects. Advent is one of only eight SMEs to have received ratification. The direct participants will closely cooperate with each other through numerous planned collaborations and also with more than 300 external partners, such as universities, research organizations, and SMEs across Europe. The IPCEI will cover a wide part of the hydrogen technology value chain, including: (i) the generation of hydrogen, (ii) fuel cells, (iii) storage, transportation, and distribution of hydrogen, and (iv) end-users’ applications, in particular the mobility sector. Advent participates in both the generation of hydrogen and fuel cells.
According to a press release issued by the Hellenic Ministry of Development and Investments, the EC approved State Aid for Greece up to the amount of €800 million public expenditure, including €782.1 million for Green HiPo. In making its assessment, the EC determined that the Green HiPo project satisfied its requirements, which include that:
Over the initial funding period and in accordance with Green HiPo’s parameters, Advent will innovatively develop, design, and manufacture fuel cell systems and electrolyser systems in Greece’s Western Macedonia region.
Launch of the Honey Badger 50™ Fuel Cell System: On August 4, 2022, Advent announced the launch of its Honey Badger 50™ (“HB50”), a compact portable fuel cell system and quiet power supply for use in off-grid field applications such as military and rescue operations. The launch of Advent’s portable power system coincided with the Company’s fulfilment of its first shipment order from the U.S. Department of Defense. The HB50 power system can be fuelled by biodegradable methanol, allowing near silent generation of up to 50W of continuous power with clean emissions. Designed for covert operations, HB50 can easily power radio and satellite communications gear, remote fixed and mobile surveillance systems, and laptop computers along with more general battery charging needs. HB50 is a unique technology that can provide 65% of weight savings versus batteries over a typical 72-hour mission. The weight savings benefit increases further for longer missions.
HB50’s unique design allows it to be used in soldier-worn configurations or operated inside a portable backpack or vehicle while charging batteries and powering soldier systems, while its thermal features allow it to operate within an ambient temperature range of -20°C to +55°C. Aside from its optimized compatibility with Integrated Visual Augmentation System (“IVAS”), HB50 can also power devices such as high frequency radios like the model 117G, as well as B-GAN and StarLink terminals. HB50’s durability allows it to be easily deployed in challenging conditions and climates while supporting mission mobility for three to seven days without the need to re-supply.
Since Honey Badger’s fuel cell technology can run on hydrogen or liquid fuels, the system can operate at a fraction of the weight of traditional military-grade batteries to meet the U.S. Department of Defense’s continuously evolving needs for ‘on-the-go’ electronics. As military adoption and use of IVAS equipment continues to evolve, the highly portable lightweight power solutions like Honey Badger will become a mission critical necessity.
Memorandum of Understanding (“MoU”) with DEPA Commercial S.A.: On August 8, 2022, Advent announced the signing of a MoU with DEPA Commercial S.A., the leading importer of pipeline gas and liquefied natural gas (“LNG”) in Greece, to enter into a strategic collaboration on hydrogen projects of common interest. The MoU sets out the framework for a forthcoming mutually binding agreement. The parties have preliminarily agreed to the following actions:
Delivery of Advent’s Portable Fuel Cell Products to the Hellenic Army’s Special Operations Units: On August 17, 2022, Advent announced the successful delivery of Advent’s portable fuel cell products to the Hellenic Army’s Special Operations Units. Advent’s fuel cell technology powers a highly sophisticated, incredibly portable battery charger designed to meet the rugged off-grid power needs in performance-demanding settings, such as those regularly faced by the Hellenic Army’s Special Operations Units and other military divisions. The portable fuel cell can be quickly and efficiently utilized by remote military units to power off-grid radio, surveillance gear, and other mobile electronic military equipment by operating under even the most challenging combat conditions. Advent’s portable fuel cell uses the Company’s proprietary methanol reformation technology to deliver premium performance alongside a significant reduction in size and weight.
Being lightweight and compact, the portable fuel cell fits in soldier plate carrier systems and rucksacks, maximizing efficiency and portability across a full range of military operations. The portable fuel cell delivers up to 50W of continuous power and up to 85W of peak power, ensuring a reliable charging experience to a wide variety of the high-power electronic devices regularly used by the Hellenic Army’s Special Operations Units in deployment. Advent’s portable fuel cell operates silently and can run uninterrupted off-grid for up to two weeks with a single hot-swappable fuel tank. The portable fuel cells have been deployed successfully within the framework of PARMENION National large-scale Joint Exercise.
Memorandum of Understanding with the New York State Energy Research and Development Authority (“NYSERDA”): On August 31, 2022, Advent announced that it co-signed a MoU with the NYSERDA and more than 60 clean hydrogen ecosystem partners. Under the MoU, the parties will collaborate to develop a proposal that will enable the Northeastern United States to become one of at least four regional clean hydrogen hubs designated through the federal Regional Clean Hydrogen Hubs program, included in the bipartisan Infrastructure Investment and Jobs Act.
The coalition of six states (Connecticut, Massachusetts, Maine, New Jersey, New York, and Rhode Island), along with more than 60 clean hydrogen ecosystem partners, are laying the groundwork for a proposal for the U.S. Department of Energy funding opportunity, with up to $8 billion in total funding available. After the initial announcement in March 2022, New York has continued to add strategic partners that now include 14 private sector industry leaders, 12 utilities, 20 hydrogen technology original equipment manufacturers, 10 universities, seven non-profit organizations, five other states, two transportation companies, and three state agencies.
Consortium partners have committed to collaborate with the NYSERDA, New York Power Authority, and Empire State Development for the development of the proposal to advance clean hydrogen projects. At the same time, partnering states will also coordinate with their respective state entities to help align the consortium’s efforts with each state’s climate and clean energy goals, such as Massachusetts goal of reaching net-zero carbon emissions by 2050. With the execution of these agreements, the partners will work together to:
The coalition will continue to focus on the integration of renewables – such as onshore and offshore wind, hydropower, and solar PV – and nuclear power into clean hydrogen production and the evaluation of clean hydrogen for use in transportation, including for medium and heavy-duty vehicles, heavy industry, power generation applications, and other appropriate uses consistent with decarbonization efforts.
Memorandum of Understanding with Hydrogen Systems, Inc. (“Hydrogen Systems”): On September 15, 2022, Advent announced the signing of an MoU with Hydrogen Systems, a hydrogen energy solutions company based in Riyadh, Saudi Arabia, to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East. Under the MoU, Hydrogen Systems aims to utilize a vast number of its existing relationships in the telecom and hydrogen energy marketplace in the Kingdom of Saudi Arabia, and elsewhere throughout the Middle East to market, sell, distribute, install, and service Advent’s full line of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and hydrogen production products. Simultaneously, Advent and Hydrogen Systems intend to collaborate and explore potential large-scale development opportunities for hydrogen fuel cell power applications across the region.
Advent’s family of products, including the Serene and M-ZERO® fuel cell systems, realize a significant carbon advantage over conventional diesel remote power generation technology. HT-PEM fuel cells can operate with a range of low or zero-carbon hydrogen fuels and enable more efficient heat management. Such fuel cells can produce power in extreme ambient temperatures (from -40°C to up to +55°C) and conditions such as high air pollution and low humidity, resulting in a longer lifetime and lower total cost of ownership.
Agreement with the German State of Brandenburg: On September 19, 2022, Advent announced the signing of a three-year agreement with the German State of Brandenburg for the supply of methanol-powered fuel cell systems, which will be installed in select critical communication sites in the region. Advent’s methanol-powered fuel cell systems will be used as a back-up power source for Brandenburg’s BOS digital radio network, replacing the diesel-driven emergency power systems at several sites over the next three years. Germany’s old public safety and security infrastructure relied on an outdated analogue radio system for communication. BOS is a digital, encrypted, and secure means of communication. The new BOS network allows first responders and other public safety officials to communicate easily and securely. The BOS network now covers 99.2% of German territory.
Advent’s solution was selected as part of a tender launched by the German State of Brandenburg, which requested that fuel cell and hydrogen technology companies submit proposals for sustainable and reliable emergency power supply solutions. Prior to Advent’s selection, the performance of the Company’s methanol-powered fuel cells was tested at a site of the BOS digital radio network in Brandenburg, providing further proof of concept for the use of HT-PEM fuel cells as an efficient back-up power source for critical infrastructure applications. Advent’s methanol-powered fuel cells deliver reliable power in an environmentally friendly way – reducing CO2 emissions and operating near silently – while having a low impact on the surroundings. Methanol, as a carrier of hydrogen, allows simpler storage than pure hydrogen and enhances the safety of operations.
Conference Call
The Company will host a conference call on Monday, November 14, 2022, at 9:00 AM ET to discuss its results.
To access the call please dial (888) 660-6182 from the United States, or (929) 203-0891 from outside the U.S. The conference call I.D. number is 3273042. Participants should dial in 5 to 10 minutes before the scheduled time.
A replay of the call can also be accessed via phone through November 28, 2022, by dialing (800) 770-2030 from the U.S., or (647) 362-9199 from outside the U.S. The conference I.D. number is 3273042.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, and the critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, or licensed worldwide for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enable various fuels to function at high temperatures and under extreme conditions – offering a flexible option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, please visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees, and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2022, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
Presentation of Non-GAAP Financial Measures
In addition to the results provided in accordance with U.S. GAAP throughout this press release, the Company has provided non-GAAP financial measures - Adjusted Net Income / (Loss) and Adjusted EBITDA - which present results on a basis adjusted for certain items. The Company uses these non-GAAP financial measures for business planning purposes and in measuring its performance relative to that of its competitors.
Advent Technologies Holdings, Inc.
Naiem Hussain
This email address is being protected from spambots. You need JavaScript enabled to view it.
Chris Kaskavelis
This email address is being protected from spambots. You need JavaScript enabled to view it.
WASHINGTON & CHICAGO--(BUSINESS WIRE)--Nodal Exchange and IncubEx announced today the planned launch date of December 5th, 2022 for the Washington Carbon Allowance (WCA) futures contract and the National CRS Listed Wind Renewable Energy Certificate (REC) futures contracts, pending regulatory review.
The WCA contract will be the first exchange listed and cleared contract corresponding with the newest regional carbon market in North America, in Washington state. The Washington carbon “Cap-and-Invest” program, which is set to commence compliance obligations on January 1, 2023, will gradually cover about 75% of the state's largest emitters of CO2. Washington Carbon Allowances from the listed contracts will be physically delivered via the Washington Compliance Instrument Tracking System Services (CITSS) registry.
The program aims to lower CO2 emissions 45% below 1990 levels by 2040 and 95% below 1990 levels, reaching net-zero carbon emissions by 2050 as set by the Washington state's Climate Commitment Act.
The WCA futures contract joins the slate of North American listed carbon products on Nodal Exchange including: California Carbon Allowance (CCA) futures and options, California Carbon Offset (CCO) futures and Regional Greenhouse Gas Initiative (RGGI) futures and options. Open interest in North American carbon futures on Nodal has reached 40,211 lots, up 128% year over year.
"The North American carbon market landscape continues to evolve, grow and mature and the new Washington cap-and-invest program is another illustration of how states and provinces are building on the success of neighboring jurisdictions in addressing environmental issues via market-based solutions," said Dan Scarbrough, President and COO at IncubEx. "We see this contract as another major exchange product development that provides all the known benefits of transacting environmental commodities in a regulated futures market."
Nodal Exchange and IncubEx are also pioneering the National CRS Wind REC futures. This first-of-its-kind contract, sometimes referred to as a hybrid compliance/voluntary REC, delivers Renewable Energy Certificates from four distinct registries where existing Nodal REC futures contracts are listed: ERCOT Renewables Registry, Western Renewable Energy Generation Information System (WREGIS), North American Renewables Registry™ (NAR), or Midwest Renewable Energy Tracking System (M-RETS®) for qualifying wind energy production from facilities which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ administration of its Green-e® certification program. The new product will be made available as front-half and back-half contracts corresponding to the first half and second half of the calendar year which can also be traded in combination.
The new National CRS Wind REC futures enable Nodal customers to aggregate liquidity across key REC markets across the US, with physical delivery from the leading registries. The new Nodal Exchange contracts complement the largest suite of REC futures contracts listed on any exchange, including Nodal Exchange’s: Texas CRS wind, Texas CRS solar, M-RETS CRS wind, NAR CRS wind and NAR CRS solar contracts. In aggregate, trading volume has totaled 130,130 lots (130.1 million MWh) and open interest currently stands at 42,951 lots (representing 42.9 million MWh).
"These new carbon and REC contracts are reflective of our drive to offer innovative and pioneering products that meet the needs of our customers in the environmental space," said Paul Cusenza, CEO of Nodal Exchange. "These contracts add two unique contract offerings to what is already the world’s broadest suite of exchange listed environmental contracts."
ABOUT INCUBEX
IncubEx is an incubator for exchange traded products, services, and technology solutions. At its core, IncubEx is a product and business development firm. The company works in conjunction with its global exchange partner, European Energy Exchange (EEX), Nodal Exchange and other leading service providers and stakeholders to design and develop new financial products in global environmental, reinsurance, and related commodity markets. The company has a specific focus on innovation and continuous improvement of products and services, including technology, trading solutions, and operational efficiencies. The IncubEx team is led by former key Climate Exchange executives and is uniquely positioned to capture these opportunities with its partners. The company was founded in 2016 and currently has offices in Chicago and London. See more at www.theincubex.com.
ABOUT NODAL
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the largest set of electric power and environmental futures and options contracts in the world. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 power contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC. For more information, please visit www.nodalexchange.com.
PRESS:
IncubEx
Jim Kharouf
IncubEx Communications Director
P: 773-391-0439
This email address is being protected from spambots. You need JavaScript enabled to view it.
Nodal
Nicole Ricard
Nodal Exchange Public Relations
P: 703-628-6501
This email address is being protected from spambots. You need JavaScript enabled to view it.
AIT-Europe teammates vote to support umbrella organization of Childhood Cancer International
AMSTERDAM--(BUSINESS WIRE)--#AITCares--Global supply chain solutions leader AIT Worldwide Logistics is proud to announce it selected Childhood Cancer International – Europe (CCI Europe) as the company’s flagship charitable alliance in its European region.
“No matter where you go around our global network, the fight to end cancer is a mission that’s near and dear to a lot of hearts at AIT, including mine,” said AIT’s Executive Chairman and CEO, Vaughn Moore. “In fact, ending cancer is one of the pillars of AIT Cares, our company’s philanthropic arm. So, the work that CCI Europe is doing makes them a perfect fit as a charitable partner for AIT.”
To achieve CCI Europe’s vision of curing children and adolescents of cancer, the non-profit collaborates with medical professionals, academics, scientists, and professionals across Europe to conduct research, establish diagnosis, treatment, and care standards, enhance survivorship, improve education and networking, and more.
“I am extremely proud that by partnering with the team at CCI Europe we’ve been able to align with AIT’s value of engaging in the communities where we live and work,” said AIT’s Vice President, Europe, Michael Völlnagel. “And it’s an honor to ally with the truly amazing team at CCI Europe, who are fully passionate about saving children’s lives.”
Völlnagel added that the AIT-Europe team has already started its first projects and steps to support CCI Europe in its fight against childhood cancer.
“The passion is already uniting us, and that’s something you could feel during our kick-off project to support this flagship alliance in September as part of the company’s regional leadership meeting in Amsterdam, building and delivering four custom foosball tables for CCI Europe to use towards their mission,” he said.
AIT-Europe teammates selected CCI Europe as their regional charitable partner, first through a nomination process in March 2022, then through a final vote in July 2022, after a vetting process.
St. Jude Children’s Research Hospital® is AIT’s regional flagship charitable alliance for North America. In Asia, AIT-Hong Kong supports the Tung Wah Group of Hospitals, AIT-Taiwan partners with the Taiwan Cardiac Children’s Foundation and AIT-Shanghai is allied with the Aihao Children Rehab Training Center.
To learn more about CCI Europe, visit ccieurope.eu.
About AIT Worldwide Logistics
AIT Worldwide Logistics is a global freight forwarder that helps companies grow by expanding access to markets all over the world where they can sell and/or procure their raw materials, components and finished goods. For more than 40 years, the Chicago-based supply chain solutions leader has relied on a consultative approach to build a global network and trusted partnerships in nearly every industry, including aerospace, automotive, consumer retail, food, government, healthcare, high-tech, industrial and life sciences. Backed by scalable, user-friendly technology, AIT’s flexible business model customizes door-to-door deliveries via sea, air, ground and rail — on time and on budget. With expert teammates staffing more than 100 worldwide locations in Asia, Europe and North America, AIT’s full-service options also include customs clearance, warehouse management and white glove services. Learn more at www.aitworldwide.com.
Our Mission
At AIT, we vigorously seek opportunities to earn our customers’ trust by delivering exceptional worldwide logistics solutions while passionately valuing our co-workers, partners and communities.
Matt Sanders
Public Relations Manager
+1 (630) 766-8300
This email address is being protected from spambots. You need JavaScript enabled to view it.
800-669-4AIT (4248)
www.aitworldwide.com
LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, today announced a new goal to reduce its carbon emission intensity 32% by 2034 (baseline 2019), advancing the company’s sustainability vision of moving the freight industry towards a low-carbon future.
“Our roadmap to achieving this aspirational goal will help J.B. Hunt strive to significantly reduce our carbon emission intensity while holding true to our customer commitment of providing efficient, quality-driven, competitive supply chain solutions for moving their freight,” said Craig Harper, chief sustainability officer and executive vice president at J.B. Hunt. “Our goal is an ambitious challenge to improve J.B. Hunt’s carbon footprint and to help advance the transportation industry’s progress in developing sustainable solutions that are commercially viable and scalable for widespread adoption.”
Specifically, J.B. Hunt will focus on three key areas to reach its emission-reduction target by 2034:
Achieving the company’s ambitious target is dependent on significant progress with the development and availability of new industry technology and the infrastructure needed to enable their day-to-day use on an industry-wide scale. Examples include developments such as: ongoing enhancements to commercial motor vehicles; charging and refueling infrastructure; expanded capacity on the electrical grid; increased availability of biogenic fuels and the incorporation of more energy resources with lower carbon intensity.
J.B. Hunt’s goal is an intensity target aligned with the original goal of the Paris Climate Agreement to limit global warming to 2°C. Emission intensity measures the volume of absolute emissions emitted against a relevant business output, allowing for business growth while still showing emissions improvement on a per unit basis. The company’s target will focus on reducing Scope 1 and Scope 2 emissions per company operated ton-mile 32% by 2034 from a 2019 base year.
J.B. Hunt developed a roadmap for how its goal could be achieved if certain assumptions, including those related to electric vehicles, biogenic fuels and MPG improvements, are met. These assumptions were made with deep understanding of company operations and following consultation with suppliers and original equipment manufacturers and recommendations from a variety of leading industry organizations. While J.B. Hunt must depend on other companies and industries for these assumptions to be realized, the company plans to encourage, support and monitor the advancements needed to achieve its goal.
Leading the Industry in Intermodal Conversion
Reducing J.B. Hunt’s carbon emission intensity is expected to have a positive impact throughout the supply chain, helping many customers reduce their overall carbon footprint. This is complementary to the industry-leading rail intermodal service J.B. Hunt provides to help customers avoid carbon emissions. Converting over-the-road highway freight to rail intermodal is the most widely available ground transportation solution for cutting carbon emissions, reducing a shipment’s carbon footprint by an average of 60% compared to over-the-road truck transportation.
J.B. Hunt operates the largest company-owned intermodal fleet in North America with more than 113,000 53’ containers supported by company-owned chassis and tractors, with plans to expand to as many as 150,000 containers in the next three to five years. Over the past decade, J.B. Hunt’s intermodal service has helped avoid an estimated 30 million metric tons of CO2e emissions from over-the-road truck transportation. Similarly, since 2020, the company’s J.B. Hunt 360°® technology platform has provided freight visibility used to find loads that helped company drivers avoid an estimated nearly six million empty miles. While relevant to the emissions-reduction conversation, carbon emissions avoided by intermodal conversion and empty-mile reduction do not contribute to the company achieving its reduction target.
In addition to operations-focused initiatives to reduce carbon emissions, J.B. Hunt is committed to making sustainability a focus throughout the company’s organization – from maintenance and equipment to engineering and technology – as it creates the most efficient transportation network in North America.
About J.B. Hunt
J.B. Hunt Transport Services, Inc., a Fortune 500 and S&P 500 company, provides innovative supply chain solutions for a variety of customers throughout North America. Utilizing an integrated, multimodal approach, the company applies technology-driven methods to create the best solution for each customer, adding efficiency, flexibility, and value to their operations. J.B. Hunt services include intermodal, dedicated, refrigerated, truckload, less-than-truckload, flatbed, single source, last mile, and more. J.B. Hunt Transport Services, Inc. stock trades on NASDAQ under the ticker symbol JBHT and is a component of the Dow Jones Transportation Average. J.B. Hunt Transport, Inc. is a wholly owned subsidiary of JBHT. For more information, visit www.jbhunt.com.
Forward-Looking Statements
This press release may contain forward-looking statements that relate to our current goals, estimates, plans, projections and assumptions concerning future events or operations and are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may include, but are not limited to, statements regarding our climate change mitigation goals, initiatives, strategies and projections. Forward-looking statements are inherently uncertain, subject to risks, and should be viewed with caution. These statements are based on our belief or interpretation of information currently available. Stockholders and prospective investors are cautioned that actual results and future events may differ materially from these forward-looking statements as a result of many factors. Some of the factors and events that are not within our control and that could have a material impact on future operating results include, but are not limited to, the development and availability of new industry technology and infrastructure, such as ongoing enhancements to commercial motor vehicles, charging and refueling infrastructure, expanded capacity on the electrical grid, increased availability of biogenic fuels, the incorporation of more energy resources with lower carbon intensity, and other developments that may be necessary to make climate change solutions commercially viable and scalable for widespread industry adoption. You should also refer to Part I, item 1A of our Annual Report filed on Form 10-K for the year ended December 31, 2021, for additional information on risk factors and other events that are not within our control. Our future financial and operating results may fluctuate as a result of these and other risk factors as described from time to time in our filings with the Securities and Exchange Commission. J.B. Hunt assumes no obligation to update any forward-looking statements to the extent the company becomes aware they will not be achieved for any reason. This press release and additional information will be available to interested parties on our website, www.jbhunt.com.
Brad Delco
Senior Vice President - Finance
479.820.2723
S&P Global includes EPIC Corpus Christi Crude Terminal in its Platts Dated Brent Price Assessment
HOUSTON--(BUSINESS WIRE)--EPIC Crude Holdings, LP (“EPIC Crude” or “the Company”) today announced that Platts will include the Company’s Crude Marine Terminal in Corpus Christi as a pre-approved terminal for WTI Midland crude oil in its Platts Dated Brent and Cash BFOE* Market-on-Close (“Dated Brent”) price assessment beginning with June 2023 deliveries.
Dated Brent is the world’s leading crude benchmark and a critical component of the Brent Complex which includes the trading of physically delivered oil as well as financially settled derivatives. WTI Midland will be the first non-North Sea grade of oil to be included in Dated Brent and will only reflect WTI Midland cargoes loaded from pre-approved terminals.
“EPIC is honored to be accepted by Platts to deliver WTI Midland crude oil into the Brent Complex," said Brian Freed, Chief Executive Officer of EPIC. "This addition recognizes the strict export quality grade crude oil EPIC delivers, and further highlights the strategic importance of Corpus Christi in meeting the global energy demands.”
EPIC Crude delivers up to 600,000 barrels per day of crude oil from it’s ~3.5 million barrel Robstown Terminal to export terminals and refineries in Corpus Christi and Ingleside, including EPIC’s Crude Marine Terminal capable of loading Aframax-sized tankers.
About EPIC Crude Holdings, LP
EPIC Crude Holdings, LP (“EPIC Crude”) was formed in 2017 to build and operate the EPIC Crude Oil Pipeline, a 700-mile, 30” crude oil pipeline that extends from Orla, Texas to the Port of Corpus Christi and services the Delaware, Midland, and Eagle Ford basins. The Crude Oil Pipeline is currently operating at a capacity of 600,000 barrels per day (bpd), as well as total operational storage of approximately 7,000,000 million barrels. The project includes terminals in Orla, Pecos, Crane, Wink, Midland, Hobson, and Gardendale, with connectivity to the Port of Corpus Christi, including the EPIC Marine Terminal, third-party export terminals and local refineries. EPIC Crude is backed by capital commitments from funds managed by the Private Equity Group of Ares Management Corporation (NYSE: ARES) as well as additional equity ownership by Chevron Corporation (NYSE: CVX), Kinetik Holdings Inc (NASDAQ: KNTK) and Diamondback Energy Inc (NASDAQ: FANG). For more information, visit www.epicmid.com.
EPIC Midstream Holdings, LP
David McArthur
Corporate Communications Director
(210) 446-1059
This email address is being protected from spambots. You need JavaScript enabled to view it.
BOSTON--(BUSINESS WIRE)--SES AI Corporation (NYSE: SES), a global leader in the development and manufacturing of high-performance lithium-metal (Li-Metal) rechargeable batteries for electric vehicles (EVs) and other applications, headquartered in Boston, announced today that the company will participate in the Water Tower Research Fireside Chat Series on Friday, November 18, 2022, at 10:00 am EST.
Qichao Hu, CEO of SES, will provide an update on the company’s technology and roadmap to commercialization. If you are an institutional or retail investor, and would like to listen to the Company’s fireside chat, please click here to register for the event.
Event: WTR Fireside Chat Series: Qichao Hu, Founder and CEO of SES AI Corp
Date: November 18, 2022
Time: 10:00 A.M. EST
Location: Virtual Conference
Company Webcasting Link: Fireside Chat: SES AI Corp. (SES) CEO Qichao Hu Will Provide an Update on the Company’s Technology and Roadmap to Commercialization.
About SES
SES is a global leader in development and production of high-performance Li-Metal rechargeable batteries for EVs and other applications. Founded in 2012, SES is an integrated Li-Metal battery manufacturer with strong capabilities in material, cell, module, AI-powered safety algorithms and recycling. Formerly known as SolidEnergy Systems, SES is headquartered in Boston and has operations in Singapore, Shanghai, and Seoul. To learn more about SES, please visit: ses.ai
SES may use its website as a distribution channel of material company information. Financial and other important information regarding SES is routinely posted on and accessible through the Company’s website at www.ses.ai. Accordingly, investors should monitor this channel, in addition to following SES’s press releases, Securities and Exchange Commission filings and public conference calls and webcasts.
Investors: Eric Goldstein This email address is being protected from spambots. You need JavaScript enabled to view it.
Media: Irene Lam This email address is being protected from spambots. You need JavaScript enabled to view it.
NORTH BETHESDA, Md.--(BUSINESS WIRE)--$ESAB #ESAB--ESAB Corporation (NYSE: ESAB) (the “Company” or “ESAB”) announced today the commencement of an underwritten offering of 6,003,431 shares of its common stock currently owned by Enovis Corporation (“Enovis”), ESAB’s former parent company. ESAB is not selling any shares and will not receive any proceeds from the sale of the shares in the offering or the debt-for-equity exchange (as described below).
Prior to the closing of the offering, Enovis intends to exchange the shares of ESAB common stock to be sold in the offering for indebtedness of Enovis that will be owned by Goldman Sachs & Co. LLC or an affiliate thereof. Goldman Sachs & Co. LLC, as the selling stockholder in the offering, then intends to sell these shares of ESAB common stock to the underwriters in connection with the public offering.
Goldman Sachs & Co. LLC and Evercore ISI are acting as the joint lead book-runners for the offering and as representatives of the underwriters.
The Company has filed a shelf registration statement (including a prospectus) on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates, but such registration statement has not yet become effective. The securities may not be sold, nor may offers to buy be accepted, prior to the time that the registration statement becomes effective. Before you invest, you should read the base prospectus in that registration statement, the accompanying prospectus supplement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus supplement and accompanying base prospectus relating to the offering, when available, may be obtained from Goldman Sachs & Co. LLC, Prospectus Department, 200 West Street, New York, NY 10282, telephone: 1-866-471-2526, or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it.; and Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at (888) 474-0200 or by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it..
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About ESAB Corporation
ESAB Corporation (NYSE: ESAB) is a world leader in fabrication and specialty gas control technology, providing our partners with advanced equipment, consumables, specialty gas control, robotics, and digital solutions which enable the everyday and extraordinary work that shapes our world.
Forward‐Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include, but are not limited to, statements concerning the terms of the proposed public offering, the Company’s ability to consummate the proposed public offering, the Company’s plans, goals, objectives, outlook, expectations, and intentions, and other statements that are not historical or current fact. Forward-looking statements are based on the Company’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including general risks and uncertainties such as market conditions, economic conditions, geopolitical events, changes in laws, regulations or accounting rules, fluctuations in interest rates, terrorism, wars or conflicts, major health concerns, natural disasters or other disruptions of expected business conditions. Factors that could cause the Company’s results to differ materially from current expectations include, but are not limited to, risks related to the war in Ukraine and escalating geopolitical tensions as a result of Russia’s invasion of Ukraine and the related impact on energy supplies and prices; macroeconomic conditions; supply chain disruptions; the impact of the COVID-19 global pandemic, including the rise, prevalence and severity of variants of the virus, actions by governments, businesses and individuals in response to the situation, such as the scope and duration of the outbreak, the nature and effectiveness of government actions and restrictive measures implemented in response; the impact on creditworthiness and financial viability of customers; the Company’s ability to realize the anticipated benefits of its separation from Enovis Corporation, and the financial and operating performance of the Company following the separation; other impacts on the Company’s business and ability to execute business continuity plans; and the other factors detailed in the Company’s Registration Statement on Form S-1 filed on November 14, 2022, as well as other risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission.
Investor Relations:
Mark Barbalato
Vice President, Investor Relations
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 1-301-323-9098
Media:
Tilea Coleman
Vice President, Corporate Communications
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Phone: 1-301-323-9092
SAN FRANCISCO--(BUSINESS WIRE)--On the heels of the COP27 climate summit, Scepter, Inc., an emerging company that uses global Earth- and air-based data to measure climate gases and air pollution in real time, has today announced it is set to launch in January a stratospheric balloon enabled with methane-detection sensors in Texas’ Permian Basin, which will gather first-of-its-kind data on methane emissions.
“These balloon sensors in the stratosphere enable us to turn on our methane information service offering now. Active regional operations are a stepping stone to our ultimate goal of launching sensors in space, in low-Earth orbit, with satellites to monitor emissions globally and in real time,” announced Scepter Founder and CEO Philip Father.
The Permian is a region in west Texas that is among the largest oil- and gas-producing regions in the world. Balloons carrying hyperspectral sensors operating in short-wave infrared have never been commercially deployed before to get this detailed level of data, measuring down to 50 kg methane per hour and lower—a moderate-sized industrial leak.
Balloons can also uncover “intermittent” leaks in oil- and gas-production, another first. Intermittent leaks often go undetected because they are not necessarily active when an aircraft or drone flies overhead. In contrast, the balloons can “dwell” over an area of interest on a 24/7 basis to uncover leaks and develop an emissions map of the region. Thus, the Scepter balloon approach presents a notable advance over current methods, with improved quantification from an airborne view. Balloons also provide a more holistic perspective than Earth-based sensors, which only measure their immediate vicinity.
Matt Alvarado, VP of R&D at Atmospheric and Environmental Research (AER), a Verisk (Nasdaq:VRSK) subsidiary, said of the new technique, “We are excited to be working with Scepter to deliver a novel, continuous methane-monitoring capability to the oil and gas industry. Intermittent leaks are thought to emit two to three times more methane than the persistent sources currently reported by conventional methods. So, Scepter’s work uncovering intermittent sources with balloons will be huge for the industry and the world.” AER will be working on the project with Scepter to analyze the vast amounts of data generated over the Permian.
The first balloon will go up in January 2023, initially covering ExxonMobil areas of interest. In April, Scepter will launch a second balloon in the Permian to cover additional areas that encompass oil fields operated by companies that include Pioneer, Chevron, Occidental and others.
Tucson-based stratospheric balloon company World View is working closely with Scepter to bring the balloon capabilities to the mission. “We are delighted to be working with Scepter strategically to integrate the most appropriate class of assets into Scepter’s overall approach to render the atmosphere’s composition in real time,” said Matteo Genna, World View President, Remote Sensing. “We believe climate change is the biggest issue of our time.”
Beyond the Permian Basin, Scepter is poised to deploy more regional sensors in partnership with state-run oil and gas companies in Asia and the Middle East in 2023. The company will then move to its next phase in 2024: launching sensors on low-Earth-orbit satellites to monitor global emissions.
Methane has been estimated as causing about 20% of greenhouse gases and the oil industry accounts for about a third of the global methane released into the atmosphere. Notably, the Biden Administration infrastructure law, passed last year, mandates that oil and gas companies monitor methane emissions or be penalized, with the goal of reducing emissions globally.
“The climate provisions in the new infrastructure law put a real tailwind behind Scepter’s plans to work with the oil industry to reduce pollutants,” added Father. “Finally, it makes economic sense for oil and gas companies to mitigate their emissions, and Scepter is poised to be part of that.”
ABOUT SCEPTER
Scepter has developed and patented a ground-breaking approach to monitoring the atmosphere in real-time using an array of terrestrial, airborne and low-Earth-orbit satellite-based sensors to provide actionable information for businesses, consumers, governments and NGOs.
These capabilities are not only critical for solving the global pollution and climate change crises, but also provide the platform for an emerging multibillion-dollar commercial atmospheric monitoring services industry with markets in government, energy, industrial, healthcare, agriculture, insurance and cosmetics, beginning with the oil and gas industry. Scepter distinguishes itself among other air monitoring entities in that its measurements are in real-time and measure a variety of emissions: particulates, methane and other criteria pollutants. The unique qualities of Scepter’s process are reflected in patents awarded to the company in the U.S. and internationally. For more on Scepter, visit www.ScepterAir.com.
Gary Start at This email address is being protected from spambots. You need JavaScript enabled to view it.
Ceremony to be held at 10 am, November 17th on Neways’ booth, Hall A1, Stand 306, Messe München, Munich, Germany
CAMBRIDGE, England & EINDHOVEN, Netherlands--(BUSINESS WIRE)--Cambridge GaN Devices (CGD), the fabless, clean-tech semiconductor company that develops a range of energy-efficient GaN-based power devices to make greener electronics possible, and Neways Electronics (Neways), the international innovator in electronics for smart mobility, semiconductor and connectivity solutions, will sign an agreement to develop high efficiency, photovoltaic solar inverter products based on gallium nitride technology at Electronica 2022.
Dr, Giorgia Longobardi | Co-Founder & CEO, CAMBRIDGE GaN DEVICES “Neways and CGD are perfectly aligned in our commitment to a sustainable future based on clean tech energy. We believe that this program to jointly develop photo-voltaic products that lead the world in terms of efficiency and performance will move the market forward and contribute to a better world.” |
HANS KETELAARS | CHIEF TECHNOLOGY OFFICER, Neways ELECTRONICS “Neways is committed to working with like-minded innovative companies to bring state-of-the-art, sustainable energy solutions to the market. The combination of Neways’ extensive systems experience and CGD’s high-efficiency, rugged and simple-to-use GaN devices is a perfect fit for this application.” |
The partnership, which was forged after the two companies met while collaborating on the European-funded GaNext project, has already borne fruit. At Electronica, both on the Neways booth, and at CGD’s booth (Hall C3, Booth 535), visitors will be able to see a demo of a 3kW photovoltaic inverter jointly developed by the two companies. Using eight CGD65A055S2 GaN transistors, this transformer-less, ultra compact design achieves a power density of 1kW/L. With a Vin of 150-350VDC, a Vout of 230VAC and a switching frequency 350kHz the design has a maximum efficiency of 99.22%.
About Cambridge GaN Devices
Cambridge GaN Devices (CGD) is a fabless semiconductor company spun-out by Professor Florin Udrea and Dr Giorgia Longobardi from Cambridge University in 2016 to exploit a revolutionary technology in power devices. Our mission is to shape the future of power electronics by delivering the most efficient and easy-to-use transistor. CGD designs, develops and commercialises GaN transistors and ICs enabling a radical step change in energy efficiency and compactness and is suitable for high volume production. CGD’s ICeGaN™ technology is protected by a strong IP portfolio which constantly grows based on the company's leading innovation skills and ambitions. In addition to the multi-million seed fund and Series A private investments, CGD has so far successfully secured four projects funded by iUK, BEIS and EU (Penta). The technical and commercial expertise of the CGD team combined with an extensive track record in the power electronics market has been fundamental in early market traction of its proprietary technology.
About Neways
Neways is an international innovator in electronics for smart mobility, connectivity and semicon solutions. With more than 50 years’ experience and strong engineering power, we are proud to act as technology innovation partner for the most demanding customers in the industry. Neways develops and produces electronics that facilitate major trends around global ESG themes. Our team of more than 2,500 specialists across the Netherlands, Germany, USA, China, Czech Republic and Slovakia enables future solutions for EV charging, electric power trains, digitizing health solutions, sustainable agriculture, producing microchips and more. www.newayselectronics.com
Andrea Bricconi, VP Business Development CGD | +49 173 2410796 This email address is being protected from spambots. You need JavaScript enabled to view it.
Freek Deelen, Head of Strategy & Communications Neways | +31 653 986 914 This email address is being protected from spambots. You need JavaScript enabled to view it.
Agency: Nick Foot, BWW Communications | This email address is being protected from spambots. You need JavaScript enabled to view it. | +44-7808-362
Patten comes to Ameresco with a 20-year track record of implementing integrated human resource strategies
FRAMINGHAM, Mass.--(BUSINESS WIRE)--#carbonreduction--Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced that it has appointed Lenka Patten as its new Senior Vice President and Chief Human Resources Officer. With 20 years of forward-thinking human capital experience, Patten comes to Ameresco with a proven track record of implementing integrated human resource strategies that put people first and support the overall mission and vision of organizations.
In her new role, Patten will serve as a strategic member of the Ameresco executive management team, leading Ameresco’s team of human resources professionals. Patten will also provide guidance as a personnel advisor to each business unit and work to ensure cohesion across talent acquisition, professional development and employee engagement processes so that each area is aligned with Ameresco’s strategic business goals and objectives.
Prior to Ameresco, Patten served as the head of human resources for Reebok International, where she was responsible for developing and executing global human resource strategy, specifically in the areas of talent management; diversity, equity and inclusion; organization design; performance management; training and development; social purpose and community impact, among others. She’s also held human resources leadership roles at other organizations, including publicly traded State Street Corporation and Fidelity Investments.
“As the clean energy transition unfolds, it’s crucial that we invest in a team of professionals dedicated to growing our organization along with it,” said George Sakellaris, President and CEO of Ameresco. “I am thrilled to welcome Lenka to our team and am confident in her ability to bring a fresh, innovative perspective to our organization.”
I am very excited to join the Ameresco team,” said Lenka Patten. “Ameresco’s powerful mission, impressive team, and proven record of success are inspiring. I look forward to helping the company achieve its ambitious goals by cultivating a strong talent strategy and rewarding employee experience.”
Patten graduated from the University of Economics in Prague, Czech Republic with a bachelor’s degree in economics and comparative politics and a master’s degree in economics. She holds a master’s degree in organizational development from American University in Washington, D.C. as well. Patten is also a Society for Human Resource Management Senior Certified Professional, a nationally lauded recognition.
For more information on Ameresco, please visit www.ameresco.com.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com.
Media:
Ameresco: Leila Dillon, 508-661-2264, This email address is being protected from spambots. You need JavaScript enabled to view it.
KENNESAW, Ga.--(BUSINESS WIRE)--The Yamaha Marine Technical School Partnership program (TSP) added ten new schools to its growing list of participants during the last 12 months, bringing the total number to 117 nationwide. Developed in 2015, Yamaha’s TSP program aims to develop a stronger marine technician workforce through a certified curriculum, Yamaha systems access and product donations used in the classroom for hands-on training.
New program participants include: The Alaska Maritime Education Consortium (AMEC), Fairbanks, Alaska; Andover High School, Andover, Minnesota; Cape Cod Community College, West Barnstable, Massachusetts; Catawba Community College, Hickory, North Carolina; Coastal Alabama Community College, Foley, Alabama; Chapman School of Seamanship, Stuart, Florida; Ft. Myers High School, Ft. Myers, Florida; Mid-Coast School of Technology, Rockland, Maine; Salem High School, Salem, Massachusetts; and William Floyd High School, Mastic Beach, New York.
For Jennifer Castle Field, President of the legendary Chapman School of Seamanship, becoming a Yamaha Technical School Partner was a natural fit for the school.
“Our school offers students the opportunity to learn at the helm. Yamaha’s hands-on training extends our courses to outboards and further broadens the skills we can bring to the table,” said Field. “In a market full of serviceable Yamaha outboards, I can’t imagine a better company to work with as we train the next generation of marine industry experts.”
Coastal Alabama Community College represents the first Yamaha TSP in the state of Alabama. Through the program, the college, which is uniquely positioned near Orange Beach and Gulf Shores, will have the opportunity to work even closer with local marine businesses to develop a strong technician workforce in the area.
“Baldwin County, Alabama, the area we serve, attracts more than 8 million visitors a year, many of whom boat and fish,” said Josh Duplantis, Dean of Economic and Workforce Development for Coastal Alabama Community College. “By teaming up with Yamaha to bring niche programs like marine technician training courses to our college, we can better serve the businesses in our area by helping develop skills locally.”
“The need for quality technicians in this area of the country is so important,” said Matthew Judy, Marine Technical Instructor for Coastal Alabama Community College. “Through this course, we have the ability to reach students of all ages, including those in high school. When these students finish our courses and earn Yamaha Marine certifications, they enter the workforce ready to contribute and add value to the dealerships and service operations in our area.”
The facilitation and growth of Yamaha Marine’s technical school relationships led to the development of Yamaha-sponsored curricula available to technical schools for use in the classroom. The first curriculum, titled “Introduction to Outboard Systems,” (ITOS) includes textbook materials and hands-on learning experiences for students who wish to start a career as a marine industry technician. Students who successfully complete the course receive Yamaha Marine’s Introduction to Outboard Systems Certification. ITOS is a pre-requisite for Yamaha’s new Maintenance Certification Program (MCP), which is based on the 20, 100, 300, 500 and 1,000 maintenance procedures for Yamaha Outboards. MCP students will leave the Yamaha Technical School Partner with certified maintenance competencies that prepare them to be immediately profitable in Yamaha dealership service departments. Yamaha dealerships can take them on as apprentices or full-time technicians to help them continue to develop their skills.
For more information about the Yamaha Technical School Partnership program or to find a Yamaha TSP school partner near you, program, please visit ymutechs.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it..
Yamaha U.S. Marine Business Unit, based in Kennesaw, Ga., markets and sells marine outboard motors ranging in size from 2.5 to 425 horsepower. It also markets and sells fiberglass, jet-drive sport boats ranging from 19 to 27 feet, and personal watercraft. The unit includes manufacturing divisions of Yamaha Marine Systems Co., Inc., including Kracor of Milwaukee (rotational molding), Bennett Marine of Deerfield Beach, Fla. (trim tabs), and Yamaha Marine Precision Propellers of Indianapolis (stainless steel propellers). Yamaha Marine Group is a division of Yamaha Motor Corporation, U.S.A., based in Cypress, Calif.
This document contains many of Yamaha's valuable trademarks. It may also contain trademarks belonging to other companies. Any references to other companies or their products are for identification purposes only and are not intended to be an endorsement.
REMEMBER to always observe all applicable boating laws. Never drink and drive. Dress properly with a USCG-approved personal floatation device and protective gear.
© 2022 Yamaha Motor Corporation, U.S.A. All rights reserved.
Nicholas Genesi
Public Relations Manager
Yamaha U.S. Marine Business Unit
Mobile: (470) 898-7278
This email address is being protected from spambots. You need JavaScript enabled to view it.
Neal Wheaton
Wilder+Wheaton for
Yamaha U.S. Marine Business Unit
Mobile: (404) 317-0698
This email address is being protected from spambots. You need JavaScript enabled to view it.
Developing diverse Telematics applications with sensor integration
TAIPEI, Taiwan--(BUSINESS WIRE)--$atrack #ELD--ATrack Technology Inc., a leading global vehicle telematics device designer and manufacturer, is expanding its line of vehicle telematics products with its recent launch of two new 4G fleet management products. These include the AX300 OBD tracker and AK500 telematics gateway. These both facilitate logistics operators improving management efficiency and reducing operating costs.
AX300 obtains Dual-CAN engine information for in-depth analysis of vehicle status
The AX300 OBD tracker, which has compact size, OBD interface and supports ISO 15765-4, ISO J1939, and SAE J1708 communication protocols. An RP1226 interface for newer trucks makes it suitable for both commercial vehicle and heavy machinery applications. Differing from typical on-board vehicle trackers that can only read a single CAN bus on the vehicle, the AX300 can read data from two CAN bus systems simultaneously to obtain more detailed key engine data, including mileage, speed, and fuel level. Parameters such as fuel volume, consumption and speed, engine speed, idle time and other data can assist fleet managers in conducting in-depth data analysis which can enable early detection of potential problems such as excess fuel consumption or engine temperature, abnormal driving behavior, and other factors. This allows for performing preventive maintenance and management of driving behavior to help significantly reduce operating costs.
AK500 full feature set for vehicle and driving management
The AK500 Telematics Gateway incorporates an LTE Cat. 4 ultra-high speed wireless mobile network with 2.4GHz and 5GHz WiFi sharing, Bluetooth, engine diagnosis and real time position monitoring among other functions. In addition it has multiple interfaces that can be connected to various sensors such as tire pressure monitors and ID card readers among others for various types of trucks, trailers and other vehicles that have multiple applications. In addition, driving hours can be displayed on Bluetooth-capable mobile devices such as mobile phones or tablets in order to comply with the US Federal Motor Carrier Safety Administration (FMCSA) mandatory requirement that all commercial vehicles be equipped with an Electronic Logging Device (ELD). This standard provides important assistance to the transportation industry for fleet management.
According to a Lucintel market research report, the market for GPS tracking devices in North America was about 718 million US dollars in 2021, and is expected to reach 1.09 billion US dollars by 2027. Zhenwen Zhao, deputy general manager of ATrack Technology, said that due to the fluctuating Covid pandemic situation over the past two years, transportation demand has varied greatly. The transportation industry is actively seeking innovation and digitization, hoping to enhance overall operational efficiency. ATrack accurately determines customer needs, adheres to rigorous product testing and quality control standards, and continues to actively develop new products.
The AX300 OBD tracker and AK500 telematics gateway provide a solution for trucks, heavy machinery and the logistics industry to help customers detect vehicle and machinery location in real time, which can speed up dispatch and avoid theft. They also facilitate understanding asset status through engine diagnosis to allow performing preventive maintenance to avoid interrupted vehicle operation as well as manage driving behavior, thereby improving driving safety, reducing fuel consumption, and reducing operating costs.
In addition, in order to help customers to remotely configure settings and firmware of numerous devices dispersed over multiple locations, ATrack provides their ADM (ATrack Device Management) platform, which allows administrators to easily manage a large number of devices to reduce management labor and cost.
ATrack’s AX300 LTE-M OBD Tracker and AK500 LTE Cat. 4 Telematics Gateway are available today to customers in the United States and Canada.
Learn more at ATrack website
AX300: https://www.atrack.com.tw/en/product/lte-m-obd-tracker-ax300
AK500: https://www.atrack.com.tw/en/product/telematics-gateway-ak500
About ATrack
Founded in January 2010 and listed on the TPEx in 2015, ATrack Technology is the world's leading brand of telematics products and services. With more than 20 years of accumulated technology experience, ATrack Technology is dedicated to providing GPS trackers that are certified by global communication networks and telecommunications providers. From product design, technology R&D, and manufacturing to the global marketing of its own brand, and by utilizing its own software and hardware R&D capabilities and flexible production strategies, ATrack Technology has established a highly customized R&D and production system while providing efficient technical support and after-sales services to customers. ATrack maintains a philosophy of pursuing excellence, which is reflected in our obtaining ISO 9001 and ISO 14001 certifications. We expect to achieve our ultimate goal of sustainable operations by continuously and actively improving and implementing top quality management and internal processes. Please visit the ATrack Technology website for more information on our brand and products.
http://www.atrack.com.tw
Chloe Wang
This email address is being protected from spambots. You need JavaScript enabled to view it.
OMAHA, Neb.--(BUSINESS WIRE)--Valmont® Industries, Inc. (NYSE: VMI), a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology, today announced that the Company has entered into a definitive agreement to sell its offshore wind business to Euro Steel, a Denmark-based supplier of steel products to the European wind market. The offshore wind business, known as Valmont SM®, was acquired in 2014. It is reported in the Renewable Energy product line in the Company’s Infrastructure segment and expected to generate approximately $100 million of revenue in fiscal 2022. The Company plans to utilize the net cash proceeds from this transaction toward repayment of short-term borrowings.
“A critical aspect of our strategy is to focus our businesses in areas where we see the highest potential for global growth, scalability and value creation,” said Stephen G. Kaniewski, Valmont President and CEO. “This transaction enables our Renewable Energy management team to focus exclusively on expanding our solar business, which has tremendous growth opportunities globally and better aligns with our strategy of delivering long-term value to our shareholders. I want to thank our Valmont SM associates for successfully facilitating the efforts to reshape the business toward more profitable growth. We are very pleased that the team will be working with a strong partner who has a shared vision to invest and grow the business to meet increasing market demand for larger turbine and structure sizes.”
The transaction will generate a GAAP diluted loss per share of approximately ($1.20) to ($1.45), nearly all due to a non-cash accumulated currency translation loss. The Company expects the transaction, which is subject to customary closing conditions, to be completed in fourth quarter 2022 and plans to reflect the EPS impact as a non-GAAP adjustment to its fourth quarter and fiscal year 2022 net earnings. No further financial details are being provided at this time.
Founded in 1988, Euro Steel Denmark supplies steel plates, beams, and other products to turbine manufacturers in European wind markets. For more information, visit their website at www.euro-steel.eu/en.
About Valmont Industries, Inc.
For over 75 years, Valmont® has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.® at valmont.com.
Concerning Forward-Looking Statements
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management’s perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont’s control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont’s actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, the continuing and developing effects of the pandemic including the effects of the outbreak on the general economy and the specific economic effects on the Company’s business and that of its customers and suppliers, risk factors described from time to time in Valmont’s reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, geopolitical risks, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.
Renee Campbell
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
IRVING, Texas--(BUSINESS WIRE)--ExxonMobil announced the first cargo of liquefied natural gas (LNG) from the $8 billion Coral South floating LNG (FLNG) project offshore Mozambique, bringing additional LNG volumes to the global energy market.
Coral South produced its first LNG volumes in early October, following the FLNG’s on-schedule start-up. The Coral South FLNG is expected to produce 450 billion cubic meters of natural gas from the Coral reservoir in Mozambique’s Rovuma Basin — and to liquefy 3.4 million metric tons of that gas for transport, annually.
“The Coral South project will bring significant long-term economic value to the people of Mozambique,” said Peter Clarke, head of ExxonMobil’s LNG business. “Today’s first-cargo milestone is a testament to the hard work, continued investment and successful execution of our integrated consortium team. Mozambique is joining the ranks of global LNG producers and contributing to global LNG supplies at a time when the world needs it most.”
Lower-emissions LNG plays an increasingly important role in ExxonMobil’s portfolio. The company plans to nearly double its LNG offerings by 2030 as low-cost, capital-efficient projects like Coral South come online.
Coral South is operated by Eni, the Upstream Delegated Operator of the Area 4 consortium, which is comprised of Eni, ExxonMobil, CNPC, Galp, Kogas and ENH. Area 4 is operated by Mozambique Rovuma Venture S.p.A. (MRV), an incorporated joint venture owned by ExxonMobil, Eni and CNPC, which holds a 70% interest in the Area 4 Exploration and Production Concession Contract. Galp, KOGAS and Empresa Nacional de Hidrocarbonetos E.P. each hold a 10% interest.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society’s evolving needs.
The corporation’s primary businesses - Upstream, Product Solutions and Low Carbon Solutions - provide products that enable modern life, including energy, chemicals, lubricants, and lower-emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants and chemical companies in the world. To learn more, visit exxonmobil.com and the Energy Factor.
Follow us on Twitter and LinkedIn.
Cautionary Statement:
Statements related to outlooks; projections; descriptions of strategic, operating, and financial plans and objectives; statements of future ambitions and plans; and other statements of future events or conditions, are forward-looking statements. Actual future results, including project plans, schedules, costs, returns, and capacities; ultimate recoveries; operating performance and demand projections could differ materially due to changes in market conditions affecting the oil and gas industry or long-term oil and gas price levels; political or regulatory developments; reservoir performance; timely completion of development projects; technical or operating factors; the outcome of future commercial negotiations, including final agreed terms and conditions; unforeseen technical or operating difficulties and unplanned maintenance; and other factors discussed under the heading "Factors Affecting Future Results" in the Investor Information section of our website (www.exxonmobil.com) and in Item 1A of our most recent Form 10-K. References to quantities of gas include volumes that are not yet classified as proved reserves under SEC rules but that we believe will be produced in the future. The term "project" as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as under any government payment transparency reports.
ExxonMobil Media Relations
(972) 940-6007
WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Electriq Power (Electriq), a provider of intelligent energy storage and management for homes and small businesses, and TLG Acquisition One Corp. (NYSE: TLGA), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive merger agreement. Upon closing of the transaction, which is expected during the first half of 2023, the combined company will operate under the name Electriq Power Holdings Inc. and will be led by existing Electriq management with Mike Lawrie joining the board as Chairman. The transaction values Electriq at a pro forma pre-money equity value of $495 million, and the combined company plans to publicly trade on the NYSE under the symbol ELIQ.
Electriq, founded in 2014 in Silicon Valley, provides intelligent energy storage and management solutions for residential and small business use. In combination with rooftop solar, Electriq’s solutions provide always-available, low-cost clean energy, even during intermittent outages and inclement weather. The solutions are delivered via an innovative go-to-market model that makes solar plus storage easily accessible to all socio-economic groups, including low- and middle- income communities across the U.S. In addition to engagements with communities, from Santa Barbara and Parlier in California to Washington, D.C., and Puerto Rico, Electriq also has a broad range of industry partnerships, including a multi-billion-dollar global manufacturer, high-growth providers of turnkey microgrids, and residential solar companies.
Driven by the transition to residential solar energy, the addressable U.S. residential solar/energy storage market is large and thriving. Solar installs are forecast to grow at 17 percent per year, even before the potentially significant impact on the market of the rebates, tax credits and subsidies contained in the U.S. Federal Government’s recently enacted Inflation Reduction Act. In addition, the market is seeing accelerated attachment of energy storage to rooftop solar systems – expected to rise from 2 percent of installs in 2017 to nearly 30 percent in 2025. The combination of solar and energy storage delivers lower cost energy to homes and small businesses, provides reliable access to energy during power outages, and lessens dependence on fossil fuel-based generation.
“Electriq and TLGA together is a strategic combination for both companies, and consistent with TLGA’s continuing evaluation and pursuit of target companies,” said Mike Lawrie, Chief Executive Officer, TLGA. “Our proposed merger comes at the right time to address the rapidly growing demand in the residential solar energy storage market, technology development and innovation, consumer and provider demand, and government policy and environmental initiatives. We believe that together we can create exciting new opportunities and value for our people, customers, partners, and investors.”
“The Electriq team has achieved significant technology and customer milestones over the last two years, and we’re ready for the next step in our journey,” said Frank Magnotti, Chief Executive Officer, Electriq. “The success of our innovative residential energy storage and management platform, combined with the rapidly evolving energy ecosystem, promises exciting new growth and opportunities ahead—for our company, the evolving market, the environment, and society. We are proud of our progress and the communities we serve, and we look forward to our future with TLGA.”
Transaction Overview
The transaction values Electriq at a pro forma pre-money equity value of $495 million and is expected to provide Electriq with up to $125 million of capital to fund its growth through a combination of debt and equity. Electriq is in advanced discussions for up to $60 million of capital that includes an asset-backed revolving credit facility from a leading institutional investor, a personal convertible debt commitment of up to $8.5 million from TLGA CEO Mike Lawrie and other convertible debt to be raised before transaction close. Electriq intends to close and partially fund the revolving credit facility and the convertible debt from Mr. Lawrie before year end 2022. In addition, a meaningful number of shares will be placed into escrow to provide incentives for equity financing commitments. TLGA may also enter into a forward purchase agreement prior to transaction close to backstop redemptions for up to $100 million.
The boards of directors of both Electriq and TLGA have approved the proposed transaction, which is expected to be completed during the first half of 2023, subject to, among other things, approval by TLGA’s stockholders and satisfaction or waiver of the other conditions stated in the definitive documentation. Upon close of the transaction, Electriq’s existing shareholders will continue to own a majority of the merged company.
Additional information about the proposed transactions, including a copy of the business combination agreement, related ancillary agreements in connection with the proposed business combination, and an investor presentation, will be available in a Current Report on Form 8-K to be filed by TLGA with the Securities and Exchange Commission (SEC), which will be available on the SEC’s website at www.sec.gov.
Advisors
Truist Securities, Inc. is acting as financial advisor to TLG Acquisition One Corp and as structuring agent for the transaction. The Duff & Phelps Opinions practice of Kroll, LLC rendered a fairness opinion to TLGA. Gibson, Dunn & Crutcher LLP is acting as legal counsel to TLGA. Ellenoff Grossman & Schole LLP is acting as legal counsel to Electriq.
Webcast Details
A webcast of the presentation materials is available on NetRoadshow at 11:00 a.m. EST.
www.netroadshow.com/event/TLG2022
Important Information About the Merger and Where to Find It
This communication relates to the Business Combination involving TLG and Electriq. This communication may be deemed to be solicitation material in respect of the Business Combination. The Business Combination will be submitted to TLG’s stockholders for their consideration. In connection with the proposed merger, TLG intends to file with the SEC a registration statement on Form S-4 (the “Form S-4”) containing a registration statement/proxy statement (the “Registration Statement / Proxy Statement”) to be distributed to TLG’s stockholders in connection with TLG’s solicitation of proxies for the vote of TLG’s stockholders in connection with the proposed merger and other matters as described in such Registration Statement / Proxy Statement. The Registration Statement / Proxy Statement will also serve as the prospectus relating to the offer of the securities to be issued to Electriq’s stockholders in connection with the completion of the Business Combination. TLG also intends to file other relevant documents with the SEC regarding the Business Combination. The definitive Registration Statement / Proxy Statement will be mailed to TLG’s stockholders when available. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE BUSINESS COMBINATION, INVESTORS AND STOCKHOLDERS OF TLG AND INVESTORS AND STOCKHOLDERS OF ELECTRIQ AND OTHER INTERESTED PERSONS ARE URGED TO READ THE DEFINITIVE REGISTRATION STATEMENT / PROXY STATEMENT REGARDING THE BUSINESS COMBINATION (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER RELEVANT MATERIALS CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION.
The Registration Statement / Proxy Statement, any amendments or supplements thereto and other relevant materials, and any other documents filed by TLG with the SEC, may be obtained once such documents are filed with the SEC free of charge at the SEC’s website at www.sec.gov or free of charge from TLG at https://tlgacquisitions.com/investor-relations/default.aspx or by directing a written request to TLG at 515 North Flagler Drive, Suite 520, West Palm Beach, FL 33401.
No Offer or Solicitation
This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
Participants in the Solicitation
TLG, Electriq and certain of their respective executive officers, directors, other members of management and employees may, under the rules of the SEC, be deemed to be “participants” in the solicitation of proxies in connection with the proposed merger. Information regarding TLG’s directors and executive officers is available in its Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 25, 2022 (the “Annual Report”). To the extent that holdings of TLG’s securities have changed from the amounts reported in the Annual Report, such changes have been or will be reflected on Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC. These documents may be obtained free of charge from the sources indicated above. Information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Form S-4, the Registration Statement / Proxy Statement and other relevant materials relating to the proposed merger to be filed with the SEC when they become available. Stockholders and other investors should read the Registration Statement / Proxy Statement carefully when it becomes available before making any voting or investment decisions.
Forward-Looking Statements
This press release (“Press Release”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain of these forward-looking statements can be identified by the use of words such as “anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “scheduled,” “seek,” “should,” “will,” “would” or similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These statements are based on the beliefs and assumptions of the management of TLG and Electriq. Although TLG and Electriq believe that their respective plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, neither TLG nor Electriq can assure you that either will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements contained in this Press Release include, but are not limited to, statements about the ability of TLG and Electriq prior to the Business Combination, and New Electriq following the Business Combination, to: execute their business strategy, including expansions in new geographies; meet the closing conditions to the Business Combination, including approval by stockholders of TLG and Electriq on the expected terms and schedule; realize the benefits expected from the proposed Business Combination; continue to develop new energy storage systems and software-enabled services to meet constantly evolving customer demands; develop, design, and sell products and services that are differentiated from those of competitors; anticipate the impact of the COVID-19 pandemic and its effect on business and financial conditions; manage risks associated with operational changes in response to the COVID-19 pandemic; minimize supply chain risks by diversifying the sources of key product components while maintaining component acquisition costs; attract, train, and retain effective directors, officers and key technical and sales personnel; enhance future operating and financial results; comply with laws applicable to their business, including environmental, health and safety regulations and policies; stay abreast of modified or new laws and regulations applicable to their business, including any changes in technician qualification requirements or data and privacy regulation; anticipate the impact of, and respond to, new accounting standards; anticipate the significance and timing of contractual obligations; respond to the failure of customers and partners to comply with contractual obligations; manage operational risks associated with construction, utility interconnection and installation permitting; respond to fluctuations in foreign currency exchange rates and political unrest and regulatory changes in international markets from various events; deliver on contractual commitments with existing customers and convert non-binding letters of intent into binding agreements; maintain key strategic relationships with partners and customers; acquire new customers; respond to uncertainties associated with product and service development and market acceptance and adoption of solar and energy storage systems; successfully defend litigation; upgrade and maintain information technology systems; access, collect, and use personal data about consumers; protect proprietary software and enforce intellectual property rights; anticipate rapid technological changes in the energy storage industry; meet future liquidity requirements and comply with any applicable restrictive covenants related to indebtedness; maintain the listing on, or the delisting of TLG’s or New Electriq’s securities from, the NYSE or an inability to have our securities listed on the NYSE or another national securities exchange following the Business Combination; effectively respond to general economic and business conditions; obtain additional capital, including use of the debt market and third-party project financing, on acceptable terms; successfully deploy the proceeds from the Business Combination; and those factors discussed in documents of TLG filed, or to be filed, with the SEC.
Media enquiries for TLGA – email This email address is being protected from spambots. You need JavaScript enabled to view it.
Media enquiries for Electriq – email This email address is being protected from spambots. You need JavaScript enabled to view it.
Global leading cloud provider achieving more with less whilst doubling the use of clean energy at key data centers during the world’s largest global shopping festival
HANGZHOU, China--(BUSINESS WIRE)--Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has once again excelled in its mission of supporting the group’s 11.11 Global Shopping Festival, thanks to its high-performance computing and innovative technology. Drawing on self-developed infrastructure upgrades, the group saw an 8% year-on-year saving in computing cost per resource unit from April 1 to November 11.
“The breadth and depth of cloud technology deployment during this year’s 11.11 has once again showcased Alibaba’s best cloud and technology practice; be it through fundamental architecture like self-proprietary technology powering high-performance computing and database products, or consumer-facing XR (extended reality) and livestreaming technologies. We intend to continue applying these proven capabilities to even better serve our customers and help them to be more efficient, innovative and greener in their own digital transformation journeys,” said Li Cheng, Chief Technology Officer (CTO) of Alibaba Group.
Doing more with less through cloud-native and serverless innovations
This year’s 11.11 was powered by Alibaba Cloud’s dedicated processing unit for the Apsara Cloud operating system. The upgraded infrastructure system, significantly improved efficiency of computing, storage and network in data centers supporting the event, while also reducing network latency. For example, with this new upgrade supported by cloud-native technology, ordering, pre-sale balance payment and refunding could be launched simultaneously with an enhanced scalability and lower latency.
During this year’s 11.11, the front page of Taobao, one of Alibaba’s e-commerce platforms, was upgraded by the latest serverless technology, allowing for automatic scaling with extreme elasticity based on actual workloads.
Alibaba Cloud’s cloud-native database products also significantly expanded the capacity of consumers’ shopping carts by more than a double, from 120 items to 300. The ApsaraDB for Redis Enhanced Edition (Tair), a cloud-based in-memory database service for enterprises, supports new functions such as product grouping and sorting, enabling consumers to organize their shopping cart according to their own preferences. They could also make use of the ‘select’ function to enjoy cross-merchant discounts, to pre-order goods and use vouchers for a more rewarding shopping experience.
Innovative technology delivers more immersive consumer experience
A more immersive shopping experience was created this year thanks to Alibaba’s proprietary technology in supporting extended reality. Alibaba’s technology in 3D modeling leverages a neural radiance field (NeRF), a neural network technology for generating novel views of complex 3D scenes. During this year’s 11.11, it assisted luxurious retail and furniture brands, like Burberry, Estee Lauder and SK-II, to build virtual stores on the e-commerce platform Tmall.
Through self-developed 3D renderings that realistically represent natural light, flames and natural flowing water, an outdoor nature scene was built for sportswear brands including Descente (Japan), to showcase its latest products in a vibrant and invigorating environment. Consumers can also view the products in three dimensions, enabling them to inspect details up close, or try on their chosen watches and accessories virtually thanks to AR technologies. Consumers are also free to arrange different items of furniture indoors, or tents for outdoor camping.
Another new expressive interaction came from an XR-powered marketplace on Tmall and Taobao. Using the automatic 3D space creation technology from Alibaba’s research institute DAMO Academy, a virtual shopping street was built, featuring over 700 products from 70 brands including 30 internationally-recognized franchises, such as Sanrio’s iconic Hello Kitty, and Hollywood’s franchise Minions. Shoppers can choose their own avatars, check out the products and place them in their virtual shopping carts.
During this year’s 12-day festival from October 31 to November 11, nearly 2 million packages were delivered by Xiaomanlv vehicles, Alibaba’s last-mile logistics vehicle. This is double the package delivery volume from the same period last year. The logistics robot was deployed in over 400 campuses across China, which has greatly reduced the time of queuing for package deliveries during peak hours.
A greener 11.11 powered by clean energy
In addition to its cloud computing solutions helping to reduce energy consumption, Alibaba Cloud’s five hyper-scale data centers across China also doubled the amount of clean energy used to support this year’s 11.11 compared to last year. More than 32 million kilowatt-hours of electricity used by Alibaba Cloud to support 11.11 this year came from renewable energy, up by 30% on a daily basis average compared to last year. Additionally, Alibaba Cloud's Heyuan data center, the cloud company’s largest hyper-scale data center in South China, now runs entirely on clean energy. Alibaba Cloud’s self-developed immersion cooling technology has reduced the energy consumption of the data centers, with power usage effectiveness (PUE) reaching as low as 1.09 - a world-leading level.
Alibaba Cloud has also worked with Tmall to leverage the carbon management platform, Energy Expert. It provided online carbon footprint modeling, calculations and certifications for more than 40 brands in various sectors, including paper & pulp, food and personal care, to help them categorize low-carbon products, identify carbon emission resources and conduct informed sustainability practices to reduce carbon emissions.
About Alibaba Cloud
Established in 2009, Alibaba Cloud (www.alibabacloud.com) is the digital technology and intelligence backbone of Alibaba Group. It offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and IoT services. Alibaba maintained its position as the third leading public cloud IaaS service provider globally since 2018, according to IDC. Alibaba is the world’s third leading and Asia Pacific’s leading IaaS provider by revenue in U.S. dollars since 2018, according to Gartner.
Xiaoyi Shao
Alibaba Group
+86 18658170996
This email address is being protected from spambots. You need JavaScript enabled to view it.
HOUSTON--(BUSINESS WIRE)--Cheniere Energy Partners, L.P. (“Cheniere Partners”) (NYSE American: CQP) announced today that its subsidiary, Sabine Pass Liquefaction, LLC (“SPL”), intends to offer, subject to market and other conditions, $430 million principal amount of Senior Secured Amortizing Notes due 2037 (the “SPL 2037 Notes”).
SPL intends to use the gross proceeds from the offering, together with cash on hand, to redeem $500 million in aggregate principal amount of SPL’s outstanding senior secured notes due 2023 (the “SPL 2023 Notes”). This press release does not constitute an offer to purchase or a solicitation of an offer to sell the SPL 2023 Notes or a notice of redemption under the indenture governing the SPL 2023 Notes. The SPL 2037 Notes will rank pari passu in right of payment with all existing and future senior secured indebtedness of SPL, including its outstanding senior secured notes due 2023, senior secured notes due 2024, senior secured notes due 2025, senior secured notes due 2026, senior secured notes due 2027, senior secured notes due 2028, senior secured notes due 2030, existing senior secured notes due 2037 and its obligations under its working capital facility.
The offer of the SPL 2037 Notes has not been registered under the Securities Act of 1933, as amended (the "Securities Act") and the SPL 2037 Notes may not be offered or sold in the United States absent registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This press release contains certain statements that may include “forward-looking statements.” All statements, other than statements of historical or present facts or conditions, included herein are “forward-looking statements.” Included among “forward-looking statements” are, among other things, (i) statements regarding Cheniere Partners’ financial and operational guidance, business strategy, plans and objectives, including the development, construction and operation of liquefaction facilities, (ii) statements regarding Cheniere Partners’ anticipated quarterly distributions and ability to make quarterly distributions at the base amount or any amount, (iii) statements regarding regulatory authorization and approval expectations, (iv) statements expressing beliefs and expectations regarding the development of Cheniere Partners’ LNG terminal and liquefaction business, (v) statements regarding the business operations and prospects of third-parties, (vi) statements regarding potential financing arrangements, and (vii) statements regarding future discussions and entry into contracts. Although Cheniere Partners believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Cheniere Partners’ actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Cheniere Partners’ periodic reports that are filed with and available from the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Cheniere Partners does not assume a duty to update these forward-looking statements.
Cheniere Energy Partners, L.P.
Investors
Randy Bhatia 713-375-5479
Frances Smith 713-375-5753
or
Media Relations
Eben Burnham-Snyder 713-375-5764
Phil West 713-375-5586
Indonesia’s government security services to be equipped with premium fleet of electric motorcycles from Zero as part of presidential decree to host zero-emissions summit
SANTA CRUZ, Calif.--(BUSINESS WIRE)--Zero Motorcycles, the worldwide leader in electric motorcycles and powertrains, continues to drive the global transition to electric transportation with the completion of host-country Indonesia’s largest order of electric motorcycles in preparation for the G20 Summit in Bali. Nearly 300 new Zero Motorcycles have been delivered to Indonesia in preparation for the Summit this month. The use of an all-electric transportation fleet by the hosting government marks a new milestone for one of the world’s largest economies as it lessens its dependency on fossil fuels and moves toward net-neutral emissions.
The G20 is a global forum that includes 19 countries and the European Union, representing the world’s 20 largest economies or trade unions. The main goals of the G20 Summit are to address issues with the global economy including financial stability, climate change, and overall sustainability. In an effort to achieve zero emissions for this year’s Summit in Bali, Indonesia’s President, Joko Widodo, called for the entirety of the government’s transportation used during the events to be electric vehicles. As the world’s leading supplier of full-sized motorcycles that are fully electric, Zero Motorcycles was selected to equip the National Police and the Indonesian National Armed Forces, which includes the Presidential Security Force, with premium EV models.
“Meeting the ambitious zero-emissions goals set by President Joko Widodo was made possible thanks to the excellent partnership with both Zero Motorcycles and the Indonesian government, both organizations that are highly motivated to be leaders in transitioning away from fossil fuels,” said Harun Sjech, CEO of PT, Elektrick Motoriz Global, the importer of record for Zero Motorcycles in Indonesia. “We are extremely proud to have delivered all of these motorcycles and we look forward to building on our relationships with both Zero and the Indonesian government.”
Heading into the 2022 G20 Summit, Zero Motorcycles fulfilled the order of nearly 300 electric motorcycles. The Zero DSRP (Police) motorcycle available exclusively to global fleet operators and authority forces, plus the widely available SR/S and SR/F premium models that had been modified for tactical use by the Indonesian security apparatus, were all included as part of the governmental purchase order.
“We applaud President Widodo and the entire Indonesian government for their clear vision, admirable climate leadership goals, and for the speed with which they sought to equip and train their staff for the G20 Summit,” said Sam Paschel, CEO of Zero Motorcycles. “The G20 is an extremely important platform and being able to deliver a large fleet of reliable electric motorcycles for the event is a credit to our amazing team, and a benefit for the entire world.”
Zero Motorcycles was founded in 2006, operates in over 40 countries, and has 10 full-sized consumer models built on three different platforms for both street and dual-sport use. With models specifically designed for fleet use and currently deployed by over 240 US-based agencies and scores more worldwide, Zero outfits more fleets than any other two-wheeled EV manufacturer in the world.
About Zero Motorcycles
Zero Motorcycles is the global leader in electric motorcycles and powertrains. Designed and crafted in California, Zero Motorcycles combines Silicon Valley technology with traditional motorcycle soul to elevate the motorcycling experience for forward thinking riders around the world.
Natalie Kahn
This email address is being protected from spambots. You need JavaScript enabled to view it.
(858) 245-4238
FAYETTEVILLE, Ark.--(BUSINESS WIRE)--White River Energy Corp (“White River”) (OTCQB: WTRV), announced that it will participate in a retail investor-focused event today, November 14, 2022 at 11:00am ET. Randy May, Executive Chairman and Jay Puchir, CEO of White River Energy will present an overview of the company and participate in a “fireside chat” style Q&A session.
The livestream of this event will be webcast live and can be accessed at https://www.openexchange.tv/share-series. An archived replay will be available on the SHARE Series website for approximately 90 days following the event.
About White River Energy Corp
White River is a vertically integrated energy company with oil and gas exploration, production, and drilling operations on over 30,000 cumulative acres of active mineral leases in Louisiana and Mississippi.
White River Energy Investor:
This email address is being protected from spambots. You need JavaScript enabled to view it. or 1-800-203-5610
CAMPBELL, Calif.--(BUSINESS WIRE)--ChargePoint Holdings, Inc. (NYSE:CHPT), a leading electric vehicle charging network, today announced it will release financial results for the third quarter ended October 31, 2022, after market close on December 1, 2022. ChargePoint management will host a conference call to review its financial results at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) on the same day.
A live webcast of the conference call will be accessible from the “Events and Presentations” section of ChargePoint’s investor relations website (investors.chargepoint.com) on December 1, 2022. A replay will be available after the conclusion of the webcast and archived for one year. A copy of the press release with the financial results will also be available on ChargePoint’s investor relations website prior to the commencement of the webcast.
About ChargePoint
ChargePoint is creating a new fueling network to move people and goods on electricity. Since 2007, ChargePoint has been committed to making it easy for businesses and drivers to go electric with one of the largest EV charging networks and a comprehensive portfolio of charging solutions. The ChargePoint cloud subscription platform and software-defined charging hardware are designed to include options for every charging scenario from home and multifamily to workplace, parking, hospitality, retail and transport fleets of all types. Today, one ChargePoint account provides access to hundreds of thousands of places to charge in North America and Europe. To date, more than 133 million charging sessions have been delivered, with drivers plugging into the ChargePoint network on average every second. For more information, visit the ChargePoint pressroom, the ChargePoint Investor Relations site, or contact the This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it..
CHPT-IR
ChargePoint Holdings, Inc.
Press
AJ Gosselin
Director, Corporate Communications
This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations
Patrick Hamer
VP, Capital Markets and Investor Relations
This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.
Offshore Source keeps you updated with relevant information concerning the Offshore Energy Sector.
Any views or opinions represented on this website belong solely to the author and do not represent those of the people, institutions or organizations that Offshore Source or collaborators may or may not have been associated with in a professional or personal capacity, unless explicitly stated.