NEW ORLEANS--(BUSINESS WIRE)--Today at the International WorkBoat Show, Peer Software announced an alliance partnership with SSI, a globally recognized software solutions company for the design, engineering, construction, and maintenance of shipbuilding projects. Peer Software’s distributed file services platform, PeerGFS, helps expand the performance and reach of SSI’s solutions across geographically dispersed project teams. Together, this strategy reduces the impact of WAN speed and latency issues and allows shipyards to perform a wide range of selected tasks with substantially improved performance and data availability.
“Relationships with leading technology providers are central to our solutions and open architecture, which is reflected in our SSI Developer Network program,” said Denis Morais, co-CEO, SSI. “With Peer’s distributed file services platform working in concert with solutions like SSI WorkShare Teams, clients can benefit from fast access to shared project files, high availability, and redundancy of data across synchronized on-premises and cloud storage systems. This enables them to focus on shipbuilding and completing projects in less time.”
The connected world of shipbuilding means shipyards can complete complex projects more efficiently by accessing best-of-breed design, engineering, and manufacturing talent throughout the world. Additionally, complex deliverables require a clear view of the project, and the ability to collaborate on information wherever project teams are located.
“Peer Software has been dedicated to creating enterprise-class solutions that help meet the challenges of business requirements for always-on, always-available data infrastructure for nearly three decades,” stated Jimmy Tam, CEO, Peer Software. “Together with SSI, we enable engineering teams to collaborate more freely with each other and securely connect departments, tools, and partner organizations to further leverage the potential of a global shipbuilding industry.”
With Peer Software’s global file services platform and SSI’s WorkShare Teams multi-site solution, operations such as generating reports, creating BOMs, compiling production drawings, importing external references or x-refs, loading revisions, exporting to third-party systems, data-mining, and similar operations can be performed faster and more confidently.
For example, a major North American shipyard is utilizing SSI’s distributed teams’ workflow and PeerGFS for design file replication and version conflict prevention to prevent simultaneous work on replicated drawings. The solution is deployed on a hybrid on-premises and Azure Cloud architecture where the combination of multi-site file replication and virtualization empowers the shipyard to easily adjust its infrastructure to match changing project demands, needs, and business goals.
Learn more about the SSI and Peer Software Partnership.
About PeerGFS
PeerGFS enables enterprises to create a modern distributed file system that seamlessly integrates existing storage platforms across multi-site, on-premises and cloud storage. Using an Active-Active data services fabric, PeerGFS facilitates fast local access to user and application data, high availability, and redundancy of data across synchronized storage systems for continuous data protection (CDP). Peer Software also provides rich, deep analysis of file system characteristics and activity loads to intelligently manage the explosive growth of unstructured data and proactively plan for future requirements.
Learn more about PeerGFS.
About Peer Software
Peer Software’s mission is to simplify file management and orchestration for enterprise organizations. IT administrators constantly face the unenviable task of trying to architect, build and operate resilient, highly available 24/7 global operations while simultaneously striving to add flexibility and agility in their technology choices to quickly adapt to ever evolving business and technical demands. Through its global file service, storage observability and analytics solutions, Peer helps enterprises meet these challenges across edge, data center, and cloud environments.
Follow Peer Software on Twitter and LinkedIn.
About SSI
SSI makes it easy to solve the shipbuilding industry’s unique challenges by empowering shipbuilders to focus on the business of shipbuilding. We realize the rapidly evolving technologies that define the future of the industry and understand how to implement them specifically for shipbuilders. For over 30 years, our team has been globally recognized for our specific solutions for the design, engineering, construction, and maintenance of shipbuilding projects.
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A3 Communications
Kim Pegnato
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HOUSTON--(BUSINESS WIRE)--Pan Capital Management LP (“Pan”) has launched a new platform to pursue investments in the midstream natural gas storage, transportation and infrastructure sub-sectors of the energy industry. Pan believes that its background in the energy industry will ensure that it is well-positioned to identify investment opportunities in this space. Pan Midstream is primarily focused on middle-market transactions requiring between $50 million to $150 million of invested capital.
Founded in 2013, Pan is led by highly experienced energy investment professionals who manage a portfolio of energy investments, with over $1 billion in cumulative assets under management. The leadership team at Pan has decades of combined experience investing in the energy industry and hopes to leverage that experience to unlock value in the midstream space.
Kevin Chen, a Partner on the midstream platform, noted that “We are excited to leverage our successful trading platform to acquire midstream natural gas assets. With decades of experience and committed capital, we believe we will be able to close transactions quickly and efficiently.” In addition to Mr. Chen, the team responsible for this new platform will include Sean Pan, who is the co-founder and chief investment officer for Pan, and Ken Fu who serves as the COO and Chief Risk Officer for Pan.
Keith Byers
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VALLEY FORGE, Pa.--(BUSINESS WIRE)--#BobBeard--UGI Corporation (NYSE: UGI) announced today that Robert F. Beard has been appointed Chief Operations Officer (COO) reporting to UGI’s President and Chief Executive Officer, Roger Perreault, effective immediately.
“Bob has a long history of success at UGI and deep institutional knowledge of our Company,” said Perreault. “He understands our vision and, as part of our Executive Leadership Team, has been instrumental in shaping our strategic priorities. The appointment of Bob as COO is an important next step in our evolution toward a “one company” approach that will help us better serve customers, drive operational excellence, and create more opportunities for employees. By consolidating both lines of business – Natural Gas and Global LPG – under the leadership of Bob, we will have a more streamlined structure and can better capture synergies across our portfolio.”
In his new role, Beard will be responsible for oversight of UGI’s Global LPG line of business in addition to the Natural Gas line of business, which he led previously. He will be accountable for ensuring the execution of strategy, delivering safe and reliable service, and driving continuous improvement of the customer experience across each of the Company’s business units. Beard will retain responsibility for Global Engineering & Construction and Procurement and will continue to serve on the Company’s executive leadership team. Previously, Mr. Beard was Executive Vice President, Natural Gas, Global Engineering & Construction and Procurement of UGI Corporation, Chief Executive Officer of UGI Utilities, Inc., and Chief Executive Officer of Mountaineer Gas Company.
“The executive leadership team and I will work together on continuing to elevate operational excellence throughout the Company,” continued Perreault. “This new role will provide a clearer line of sight into how each of our business units is progressing against our strategic plan and financial commitments. Our entire team can also focus more time driving the vision and strategy of UGI, making strategic investments in support of our overall business, building a high performing and engaged culture, and driving shareholder value in the rapidly changing energy sector. We are now more effectively positioned to drive UGI forward and to continue executing on our ‘three R’ strategy to deliver Reliable earnings growth, invest in Renewables, and Rebalance our portfolio, which we are confident will drive long-term value for our shareholders.”
About UGI Corporation
UGI Corporation is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, natural gas utilities in West Virginia, distributes LPG both domestically (through AmeriGas) and internationally (through UGI International), manages midstream energy assets in Pennsylvania, Ohio, and West Virginia and electric generation assets in Pennsylvania, and engages in energy marketing, including renewable natural gas in the Mid-Atlantic region of the United States and California and internationally in France, Belgium, and the Netherlands.
Comprehensive information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
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610-337-1000
Tameka Morris, ext. 6297
Arnab Mukherjee, ext. 7498
Media Relations
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Robert Ferris
Company’s Second Green Bond Issuance Brings Significant Customer Savings When Compared to Traditional Utility Financing
OAKLAND, Calif.--(BUSINESS WIRE)--As a significant milestone in its work to provide affordable, safe and reliable energy to its customers, Pacific Gas and Electric Company (the Utility), through its subsidiary PG&E Recovery Funding, LLC, recently finalized a $983.4 million green bond issuance to finance electric work that will have significant environmental benefits while also keeping its customers and hometowns safe.
PG&E Recovery Funding issued the bonds to finance a variety of wildfire safety investments that the Utility has made in its electric system. The bonds were recently designated as green bonds following an analysis by S&P Global Ratings. Green bonds are a designation for capital project financings with environmental benefits. This is the Utility’s second green bond offering, with the first coming in November 2021.
In conducting its analysis of the bond issuance, S&P Global Ratings noted that the Utility’s ongoing safety work would have environmental benefits by hardening the electric system and preventing the ignition and spread of wildfires, therefore preserving the health of California’s forests, and maintaining the existing state of natural ecosystems.
“PG&E is committed to delivering on the triple bottom line of serving people, the planet and California’s prosperity. This means continuing our long history of environmental stewardship while also working to keep energy affordable for our customers. These green bonds allow us to save money for customers while completing critical safety work that has long-term environmental benefit for the hometowns we serve,” said Chris Foster, PG&E Corporation’s Executive Vice President and Chief Financial Officer.
In addition to the environmental benefits, financing critical wildfire safety work through the recovery bonds authorized by California Assembly Bill 1054 will result in significant customer savings due to the lower cost of securitization when compared to traditional utility financing. The most recent transaction is estimated to result in approximately $300 million of customer savings on a net present value basis relative to traditional rate base financing.
The investments financed by these green bonds include electric system improvements and hardening efforts found within Pacific Gas and Electric Company’s Community Wildfire Safety Program. These investments have been authorized by the California Public Utilities Commission through the utility’s 2020 General Rate Case, as well as its Wildfire Mitigation Plans.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.
Forward-Looking Statements
This news release contains forward-looking statements that are not historical facts, including statements about the beliefs, expectations, estimates, future plans and strategies of PG&E Corporation and the Utility (together, “PG&E”), including but not limited to the issuance of green bonds and their environmental, financial and operational impacts. These statements are based on current expectations and assumptions, which management believes are reasonable, and on information currently available to management, but are necessarily subject to various risks and uncertainties. In addition to the risk that these assumptions prove to be inaccurate, factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include factors disclosed in PG&E Corporation and the Utility's joint annual report on Form 10-K for the year ended December 31, 2020, their most recent quarterly report on Form 10-Q for the quarter ended September 30, 2021, and other reports filed with the Securities and Exchange Commission, which are available on PG&E Corporation's website at pgecorp.com and on the SEC website at www.sec.gov. PG&E Corporation and the Utility undertake no obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise, except to the extent required by law.
Marketing & Communications | 415.973.5930 | www.pge.com
FREEHOLD, N.J.--(BUSINESS WIRE)--Cenntro Electric Group Limited (NASDAQ: CENN), a leading EV technology company with advanced, market-validated electric commercial vehicles, today announced the launch of six EV Centers in support of its global distribution system expansion in Spain, Italy, Poland, Turkey, Morocco, and the Dominican Republic.
Building on its first EV Center in Dusseldorf, Germany, Cenntro’s new EV Centers are hubs for the Company’s distribution network which will support sales, deliveries, and aftermarket sales. The EV Centers will also provide marketing, technical, logistical, and after-market support for Cenntro’s regional dealers, strategic partners and customers. The Company’s distribution and service infrastructure includes a cloud-based parts distribution system for large scale deployment of its commercial electric vehicles.
“We have been highly focused on setting up our global distribution system, and these centers will improve sales, delivery and service and will add capacity for scale, stability, and reduced logistics costs,” said Peter Wang, Chairman and CEO. “In order to support both demand and large-scale deployment, it is imperative that Cenntro has a dedicated global distribution and service infrastructure in place as we expand sales in new regional markets. We are leveraging advanced cloud-based distribution technologies to move parts through our centers efficiently and accurately to better serve our global customers. As we project our regional growth, we believe our EV Centers will be key to ensuring our customers have minimum down-time and will serve as a critical KPI for our business customers.”
About Cenntro Electric Group
Cenntro Electric Group Ltd. (or "Cenntro") (NASDAQ: CENN) is a leading designer and manufacturer of electric light and medium-duty commercial vehicles. Cenntro's purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro has committed to lead the transformation of commercial fleets to zero-emissions vehicles and develop a full line of zero-emission commercial vehicles through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may,'' "believe,'' "anticipate,'' "could,'' "should,'' "intend,'' "plan,'' "will,'' "aim(s),'' "can,'' "would,'' "expect(s),'' "estimate(s),'' "project(s),'' "forecast(s)'', "positioned,'' "approximately,'' "potential,'' "goal,'' "strategy,'' "outlook'' and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 25, 2022 and which may be viewed at www.sec.gov.
Investor Relations Contact:
Chris Tyson
MZ North America
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100-megawatt solar facility and 20 MW/50MWh storage facility to provide renewable energy to CCCE and SVCE
Rabbitbrush Solar brings significant economic and environmental benefits to Kern County through community donations and local partnerships
DALLAS--(BUSINESS WIRE)--Leeward Renewable Energy (“LRE” or “Company”) today announced that it has completed construction and commenced operations of its 100-megawatt (MW) Rabbitbrush Solar Facility located in Kern County, California, which also includes a 20 MW, 50 MWh battery energy storage system. As previously announced, the energy generated by the project will serve two not-for-profit, community-owned electricity providers, Central Coast Community Energy (CCCE) and Silicon Valley Clean Energy (SVCE), through two 15-year power purchase agreements (PPAs).
LRE, CCCE and SVCE hosted a ribbon cutting ceremony at the Rabbitbrush Solar Facility earlier today to celebrate the start of operations at the facility. The event featured comments from Chief Executive Officer of LRE, Jason Allen; Chief Operating Officer of CCCE, Rob Shaw; Chief Operating Officer & Director of Power Supply at SVCE, Monica Padilla; Director of Kern County Planning and Natural Resources, Lorelei Oviatt; Executive Director of CalCCA, Beth Vaughn; and Kern County Supervisor, Zack Scrivner.
“LRE is proud to partner with CCCE and SVCE on a monumental project that will provide significant economic and environmental benefits,” said Jason Allen, LRE’s Chief Executive Officer. “Bringing this project online is another example of how we manage our projects in alignment with our core values of protecting and respecting the environment in the communities where we operate. Our focus is on providing continuous value to local communities, while building and maintaining strong, long-term relationships.”
Rabbitbrush Solar will serve the needs of nearly 40,000 homes per year and displace approximately 48,000 metric tons of carbon dioxide annually. Additionally, as part of LRE’s continued commitment to preserving and protecting the environment, the Company has signed an agreement with the National Audubon Society and Kern Audubon Society to contribute $150,000 to a fund for the study and conservation of the Swainson's Hawk in the Antelope Valley.
“Responsible renewable energy development and wildlife conservation go hand in hand, and LRE’s contribution to the very important Swainson’s Hawk Conservation Fund will help hawks in the Antelope Valley of California survive and thrive,” said Garry George, director of the National Audubon Society’s Clean Energy Initiative. “We are pleased to collaborate with LRE as we advance habitat conservation and clean energy in Kern and Los Angeles Counties, and we look forward to partnering with other companies in the region to ensure renewable energy facilities avoid, minimize, and mitigate the impacts on birds and other wildlife.”
LRE also contributed significant economic and job benefits to Kern County including hundreds of thousands of dollars through community donations and project fees that fund critical public services. Additionally, the project generated significant sales and property tax benefits, and created 380 union jobs during peak construction.
The Rabbitbrush Solar Facility features ultra-low carbon, thin-film photovoltaic solar modules that use less energy, water, and semiconductor material. Additionally, the project’s 20 MW, 50MWh battery energy storage system is designed to support the resiliency and reliability of the California electrical grid.
“The Rabbitbrush project is Central Coast Community Energy’s second solar-plus-storage power purchase agreement to come online this year,” said Rob Shaw, Chief Operating Officer of Central Coast Community Energy. "Coupling solar generation with battery storage allows us to move closer to a decarbonized energy grid and statewide emission-reduction goals. CCCE is committed to investing in innovation while delivering reliable energy to our customers.”
“Rabbitbrush helps Silicon Valley Clean Energy deliver on its commitment to provide clean, affordable, and reliable electricity,” said Monica Padilla, SVCE Chief Operating Officer and Director of Power Resources. “As SVCE communities shift away from fossil fuels to electrify homes and buildings, new projects like Rabbitbrush that add carbon-free capacity and reliability to the grid are key.”
LRE closed construction financing and secured tax equity commitment for the Rabbitbrush Solar Facility in June 2022, and closed on the tax equity funding in October 2022.
About Leeward Renewable Energy, LLC
Leeward Renewable Energy (LRE) is a leading renewable energy company that owns and operates a portfolio of 25 renewable energy facilities across nine states totaling more than 2,500 megawatts of generating capacity. LRE is actively developing and contracting new wind, solar, and energy storage projects in energy markets across the U.S., with 1.9 gigawatts contracted and 20 gigawatts under development and construction spanning over 100 projects. LRE is committed to providing long-term, sustainable energy solutions across all its projects that benefit its community partners while protecting and enhancing the environment. LRE is a portfolio company of OMERS Infrastructure, an investment arm of OMERS, one of Canada’s largest defined benefit pension plans with C$121 billion in net assets (as of December 31, 2021). For more information, visit www.leewardenergy.com.
For more information:
Kelly Kimberly
713.822.7538
Liz James
281.881.5170
FGS Global
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Collaboration with KOHYGEN will help decarbonize transportation industry while expanding global hydrogen refueling infrastructure
SEOUL, South Korea--(BUSINESS WIRE)--Korea Hydrogen Green Energy Network (KOHYGEN) has chosen global technology company Emerson’s (NYSE: EMR) advanced automation solutions to help ensure the safety and reliability of its pioneering hydrogen infrastructure initiative, which recently marked the completion of the world’s largest hydrogen refueling station for commercial vehicles. The project is an important step toward the two organizations’ goals of reducing emissions, driving investment in hydrogen and accelerating the transition to a net-zero global economy.
“We’re committed to building smart, safe hydrogen refueling infrastructure by leveraging IT-based integrated operations, using large capacity, high-efficiency charging systems and, most importantly, strengthening design safety standards,” said KyungSil Lee, KOHYGEN’s chief executive officer. “Emerson is helping us secure abundant clean energy for Korea and the world.”
The JeonjuPyeonghwa Hydrogen Refueling Station is the first of 35 high-capacity gas and liquid hydrogen refueling stations KOHYGEN plans to construct across Korea by 2025. The first station has a charging capacity of 300 kilograms per hour, which can fuel up to 15 buses and trucks per hour, or over 100 per day – 12 times more than an average capacity hydrogen station.
To further lay the foundation for a stable hydrogen supply chain, Emerson and KOHYGEN are collaborating on technical standards for future high-capacity commercial refueling stations and similar projects. KOHYGEN plans to expand its hydrogen supply platform to service hydrogen-powered aircraft, ships and other diverse forms of transportation.
“In line with Emerson’s ‘Greening By’ sustainability strategy, we’ve worked on a range of hydrogen projects globally, applying our expertise and innovative technologies to scale hydrogen consumption and make renewable energy a reality,” said Mike Train, Emerson’s chief sustainability officer. “Partnering with KOHYGEN is another critical step forward in diversifying our global energy mix.”
In addition to deep domain experience across the hydrogen value chain, Emerson is providing core technologies, including temperature transmitters, flowmeters, pressure transmitters, programmable logic controllers (PLC) and valves, to deliver the high level of performance necessary for developing a commercially viable hydrogen charging model that can expand Korea’s domestic hydrogen market and serve as a template in other countries.
KOHYGEN is a special purpose company held jointly by nine energy industry leaders: Korea District Heating Corporation, Hyundai Motors, GS Caltex, S-Oil, Hyundai Oilbank, SK Energy, SK Gas, E1 and Air Liquide Korea.
For more information about Emerson’s role in developing solutions across the hydrogen value chain, visit https://www.emerson.com/hydrogen-value-chain.
Additional resources:
About Emerson
Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world’s essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.
For Emerson
Denise Clarke
512.587.5879
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Enviva’s terminal at the Port of Pascagoula connects Mississippi to global economies through the export of sustainably sourced wood pellets to help de-fossilize heavy industry
BETHESDA, Md.--(BUSINESS WIRE)--#BioEnergy--Today, Enviva Inc. (NYSE: EVA), the world’s leading producer of sustainably sourced woody biomass, held a ceremonial ribbon cutting at its recently opened marine export terminal at the Port of Pascagoula, Mississippi (MS). The event commemorates Enviva’s continued commitment to deliver positive economic impact, growth, and green jobs to Mississippi, as well as the company’s mission to reduce greenhouse gas emissions on a lifecycle basis in power, heat, and heavy industry domestically and abroad.
Enviva owns and operates the deep-water marine terminal in the Bayou Casotte Harbor in Jackson County, MS in partnership with Jackson County Port Authority. Since 2019, the Port Authority and Enviva have invested over $90 million to build the terminal at the Port of Pascagoula which can receive product by rail, barge, and truck as well as support Panamax-sized vessels. The facility includes two wood pellet storage domes with a total storage capacity of 90,000 metric tons. Enviva plans to export wood pellets, sustainably sourced from local, well-managed working forests, from the now fully operational Port of Pascagoula terminal to power and utility customers across Asia, Europe, and the Caribbean – with a majority of the terminal’s future shipments slated for Japan.
“The future has never looked brighter for green jobs, green investment, and the global need to implement true climate change solutions into international economies and supply chains,” said Thomas Meth, President and Chief Executive Officer of Enviva. “Supplying the global demand for more renewable, dispatchable, alternative energy sources continues to be made possible by the dedicated men and woman in southern Mississippi that transport Enviva’s product reliably and safely around the world. Now operational, we will be regularly sending off ships filled with our sustainably sourced wood pellets made in Mississippi by Mississippians.”
To date, Enviva employs nearly 30 people at the Port of Pascagoula and indirectly supports more than 400 jobs across Jackson, Harrison, and George Counties. The terminal at the Port of Pascagoula serves as the shipment point for Enviva’s newly formed “Pascagoula Cluster” which includes Enviva’s Lucedale, Mississippi plant as well as Enviva’s forthcoming plants in Epes, Alabama and Bond, Mississippi.
“This new terminal is a win for Pascagoula, our Gulf Coast, and all of Mississippi,” said Governor Tate Reeves. “Its opening not only further strengthens supply chain infrastructure but expands our economic contributions to the global energy market. Congratulations to Enviva on this exciting launch and I look forward to seeing these Mississippi-made products shared with the world.”
“Enviva has been a great partner in developing and opening the terminal at the Port of Pascagoula, further connecting the Magnolia State to international markets,” said Port Director Mark McAndrews. “Enviva cares about the communities they serve, the people they employ, and the product they produce, which reduces greenhouse gas emissions on a lifecycle basis in homes and industries across the world.”
“Jackson County recognizes Enviva’s confidence in our county and the State of Mississippi with this symbiotic public-private partnership,” said Ken Taylor, Jackson County Board of Supervisors. “The combined investment by Enviva and our Port Authority provides much needed jobs and economic growth for Jackson, Harrison, and George Counties. Let us grow together!”
To date, Enviva’s sustainably sourced woody biomass is predominately used to accelerate the global energy transition and to de-fossilize power and heat generation; however, modern biomass is increasingly being used as a renewable alternative in hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuel. Looking ahead, Enviva plans to double its production capacity over the next four to five years, from 6.2 million metric tons per year (MTPY) to approximately 13 million MTPY, further solidifying the Port of Pascagoula, MS, as an operational and geographical asset for decades to come.
About Enviva
Enviva Inc. (NYSE: EVA) is the world’s largest producer of industrial wood pellets, a renewable and sustainable energy source produced by aggregating a natural resource, wood fiber, and processing it into a transportable form, wood pellets. Enviva owns and operates ten plants with a combined production capacity of approximately 6.2 million metric tons per year in Virginia, North Carolina, South Carolina, Georgia, Florida, and Mississippi, and is constructing its 11th plant in Epes, Alabama. Enviva is planning to commence construction of its 12th plant, near Bond, Mississippi, in early 2023. Enviva sells most of its wood pellets through long-term, take-or-pay off-take contracts with primarily creditworthy customers in the United Kingdom, the European Union, and Japan, helping to accelerate the energy transition and to decarbonize hard-to-abate sectors like steel, cement, lime, chemicals, and aviation fuels. Enviva exports its wood pellets to global markets through its deep-water marine terminals at the Port of Chesapeake, Virginia, the Port of Wilmington, North Carolina, and the Port of Pascagoula, Mississippi, and from third-party deep-water marine terminals in Savannah, Georgia, Mobile, Alabama, and Panama City, Florida.
To learn more about Enviva, please visit our website at www.envivabiomass.com. Follow Enviva on social media @Enviva.
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Jacob Westfall
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ORLANDO, Fla.--(BUSINESS WIRE)--At a signing ceremony at Siemens Energy’s Innovation Center-Orlando, Siemens Energy and the Georgia Institute of Technology this week formalized their commitment to collaborate on solutions to meet society’s increasing demand for energy in an economically and environmentally sustainable manner. With the inauguration of the Innovation Center earlier this year, Siemens Energy announced its intention to expand its work with leading research universities on a broad range of energy technologies. The master research agreement will allow Georgia Tech and Siemens Energy to conduct joint research, as well as openly support each other’s independent research and development work. The two organizations have a decades-long history of collaboration on energy projects, particularly focused around design, materials, manufacturing, and gas turbine combustion.
“At Siemens Energy, we always say that when it comes to enabling the energy transition, we can’t do it alone,” said Rich Voorberg, president, Siemens Energy North America. “Georgia Tech is one of the leading research institutions in this country, and we are proud to continue to build on our strong relationship to deliver innovative solutions in support of clean, reliable, economically viable energy systems.”
“Georgia Tech is honored to work with our longtime partner Siemens Energy on research central to the future of energy and sustainability,” said Chaouki T. Abdallah, executive vice president for Research at Georgia Tech. “We are pleased to build on our decades of work together and we look forward to collaborating on solutions that will expand economic opportunity, address existential challenges, and improve human lives.”
The first project under the agreement will focus on technologies to enable the flexible use of hydrogen-based fuels and reduce the carbon footprint of other energy sources. In the future, joint projects may focus on government-funded projects, particularly those related to the development of the hydrogen economy. The agreement will also allow Georgia Tech to conduct contract work in support of Siemens Energy-led research projects, and Siemens Energy to more effectively serve as an industrial advisory board member for Georgia Tech’s research initiatives.
“We are beyond excited to enter into this important partnership with Siemens Energy,” said Tim Lieuwen, professor and executive director for the Strategic Energy Institute at Georgia Tech. “Siemens Energy will enable us to make good on our mission to integrates energy activities across the nation's largest technology university – from generation, to distribution, to use.”
This press release and a press picture / press pictures / further material is available at https://press.siemens-energy.com/na/en.
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Siemens Energy is one of the world’s leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs around 91,000 people worldwide in more than 90 countries and generated revenue of €28.5 billion in fiscal year 2021. www.siemens-energy.com.
The Georgia Institute of Technology, or Georgia Tech, is a public research university developing leaders who advance technology and improve the human condition. The Institute offers business, computing, design, engineering, liberal arts, and sciences degrees. Its nearly 44,000 students representing 50 states and 149 countries, study at the main campus in Atlanta, at campuses in France and China, and through distance and online learning. As a leading technological university, Georgia Tech is an engine of economic development for Georgia, the Southeast, and the nation, conducting more than $1 billion in research annually for government, industry, and society.
Siemens Energy
Stacia Licona
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Georgia Tech
Georgia Parmelee
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NEW YORK & OSLO, Norway & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, today announced that it plans to make a public offering of 13,500,000 of its Ordinary Shares, without nominal value, in an underwritten registered public offering. FREYR expects to grant the underwriters a 30-day option to purchase up to 2,025,000 additional Ordinary Shares as part of this offering.
FREYR intends to use the net proceeds from this offering for (i) the continued construction of Giga Arctic facilities, (ii) development expenditures for Giga America and (iii) general corporate purposes.
Credit Suisse, BofA Securities and Morgan Stanley are acting as book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed or as to the final size or terms of the offering.
The offering is being made only by means of a previously filed effective registration statement (including a base prospectus) and a preliminary prospectus supplement. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the proposed offering, when available, may be obtained from Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at (800) 221-1037 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.; BofA Securities, Inc., Attn: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, NC 28255-0001, This email address is being protected from spambots. You need JavaScript enabled to view it.; or Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014. Before you invest, you should read the prospectus in that registration statement and other documents FREYR has filed with the Securities and Exchange Commission for more complete information about FREYR and the proposed offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state 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 FREYR Battery
FREYR Battery aims to provide industrial scale clean battery solutions to reduce global emissions. Listed on the New York Stock Exchange, FREYR’s mission is to produce green battery cells to accelerate the decarbonization of energy and transportation systems globally. FREYR has commenced building the first of its planned factories in Mo i Rana, Norway and announced potential development of industrial scale battery cell production in Vaasa, Finland, and the United States. FREYR intends to install 50 GWh of battery cell capacity by 2025 and 100 GWh annual capacity by 2028 and 200 GWh of annual capacity by 2030.
Cautionary Statement Concerning Forward-Looking Statements
All statements, other than statements of present or historical fact included in this press release, including, without limitation, statements regarding FREYR’s use of proceeds from the offering are forward-looking and involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Most of these factors are outside FREYR’s control and difficult to predict. Information about factors that could materially affect FREYR is set forth under the “Risk Factors” section in FREYR’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission (the "SEC") on September 1, 2022, and in other SEC filings available on the SEC’s website at www.sec.gov.
Investor contact:
Jeffrey Spittel
Vice President, Investor Relations
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Tel: (+1) 281-222-0161
Media contact:
Katrin Berntsen
Vice President, Communication and Public Affairs
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Tel: (+47) 920 54 570
DUBLIN--(BUSINESS WIRE)--The "Unmanned Underwater Vehicles (UUV) Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering.
Unmanned underwater vehicles (UUV) are self-propelled vehicles, typically deployed from a surface vessel without any human operator onboard. These vehicles are designed to operate independently (or by a remote controller) for periods ranging from a few hours to several days. UUVs have received significant attention worldwide and increasingly being widely used across numerous applications. Some of the popular applications of UUV include surveillance, reconnaissance, mine countermeasures, ocean floor mapping, pipeline inspection, polar ice research, anti - submarine warfare and several others.
The most prominent factor driving the overall UUV market include consistently rising investment by the defense departments on undersea drones. UUVs are capable of operating in conditions where humans are incapable of reaching. This makes UUVs highly suitable for performing difficult tasks submerged in water. Another major factor fueling the market growth is the growing adoption of these drones from the oil & gas sector. Nevertheless, factors such as limited battery life and underwater communication barriers pose significant barrier to the market growth.
Overall, the research study provides a holistic view of the global unmanned underwater vehicles market, offering market size and estimates for the period from 2022 to 2030, keeping in mind the above-mentioned factors.
Currently, the overall unmanned underwater vehicles market is led by the remotely operated vehicles (ROV) segment. As of 2021, the segment contributes to more than fifty percent of the total revenue generated worldwide. These are typically tethered drones and are controlled remotely by a human operator. ROVs are popularly used for oceanic survey, pipeline inspection and environmental research. These vehicles are typically equipped with a camera and lights. Other payloads include sensors, SONAR, magnetometers and few others.
In the following years, autonomous underwater vehicles (AUV) and hybrid underwater vehicles segments are set to exhibit the highest growth. Most of the applications now demand preprogrammed UUVs that can carry out the given task with minimal human intervention. Growing investment for advancement of UUVs is estimated to result into higher adoption of AUVs and hybrid vehicles over the forecast period.
The overall unmanned underwater vehicles market is led by the North America region, as of 2021. The region contributes to more than fifty percent of the total revenue generated worldwide. The market here is principally backed by the U.S. accounting for nearly 90% of the total regional revenue. Due to high investment over undersea drones, the demand for UUVs is estimated to remain strong in the region over the forecast period. Subsequently, the region would continue dominating the market throughout the forecast period.
In the following years, Asia Pacific and Europe are set to emerge as the fastest-growing markets for UUVs. The Europe UUV market is primarily governed by Russia, the U.K. and France having strong expenditure over UUVs. Similarly, in Asia Pacific, China and Japan are the major consumers of UUVs. The demand for UUVs in Asia Pacific is set to increase due to rising territorial disputes in Asia Pacific waters.
Market Segmentation
Product
Operating
More than 3,000m
Key Topics Covered:
1. Preface
2. Executive Summary
3. Unmanned Underwater Vehicles (UUV) Market: Business Outlook & Market Dynamics
4. Unmanned Underwater Vehicles (UUV) Market: By Product, 2020-2030, USD (Million)
5. Unmanned Underwater Vehicles (UUV) Market: By Operating, 2020-2030, USD (Million)
6. Unmanned Underwater Vehicles (UUV) Market: By More than 3,000m, 2020-2030, USD (Million)
7. North America Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)
8. UK and European Union Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)
9. Asia Pacific Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)
10. Latin America Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)
11. Middle East and Africa Unmanned Underwater Vehicles (UUV) Market, 2020-2030, USD (Million)
12. Company Profile
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/7ux9zu
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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HOUSTON--(BUSINESS WIRE)--$HESM--Hess Midstream LP (NYSE: HESM) (“Hess Midstream”) announced today that representatives of Hess Midstream will meet with investors at the Wells Fargo 21st Annual Midstream & Utilities Symposium on December 7, 2022.
A presentation has been posted in the “Investors” section of the Hess Midstream website at www.hessmidstream.com.
About Hess Midstream
Hess Midstream is a fee-based, growth-oriented, midstream company that owns, operates, develops and acquires a diverse set of midstream assets to provide services to Hess and third-party customers. Hess Midstream owns oil, gas and produced water handling assets that are primarily located in the Bakken and Three Forks Shale plays in the Williston Basin area of North Dakota. More information is available at www.hessmidstream.com.
Forward Looking Statements
This press release may include forward-looking statements within the meaning of the federal securities laws. Generally, the words “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “believe,” “intend,” “project,” “plan,” “predict,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and current projections or expectations. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the filings made by Hess Midstream with the U.S. Securities and Exchange Commission, which are available to the public. Hess Midstream undertakes no obligation to, and does not intend to, update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Investor Contact:
Jennifer Gordon
(212) 536-8244
Media Contact:
Robert Young
(713) 496-6076
PITTSBURGH--(BUSINESS WIRE)--ERIKS North America, a leading distributor of fluid and material conveyance solutions for industrial customers, announced today that it has appointed David Brown as its Chief Financial Officer.
David Brown has joined ERIKS North America as its new Chief Financial Officer. With more than 15 years of Senior Leadership experience and over 25 years of financial roles in accounting and finance, Brown has expertise aligning finance organizations and departments with overall organizational strategy and operating goals across multiple companies and industries.
Brown was most recently Chief Financial Officer at A. Stucki Company, a manufacturer of highly engineered freight car components, in Pittsburgh, PA where he focused on ERP and acquisition integration to drive value creation and enhanced profitability. Prior to that position he was CFO for Implus LLC, a private equity sponsored consumer packaged goods company. Brown also spent over 17 years at Airgas, an Air Liquide company, in corporate and subsidiary financial leadership roles.
As Brown joins ERIKS North America, he will be guiding our finance team through a transition out of ERIKS Global, who sold the North American division in March 2022.
"We are pleased to welcome Dave to the ERIKS NA team, and I look forward to working closely with him as we build momentum on our growth journey," said Jeff Crane, CEO of ERIKS North America. "Having Dave as a thought partner will ensure that we are not only growing our business aggressively but that we also have the tools and insight necessary to maximize our profitability in the process."
Commenting on his appointment, Brown said, “I am pleased to join a company that is focused on delivering best in class customer experience, is committed to a culture of inclusion and engagement, and is uniquely positioned to deliver enhanced shareholder value.”
About ERIKS North America:
ERIKS North America, a portfolio company of LKCM Headwater Investments, is a leading distributor of fluid and material conveyance solutions for industrial customers. Our technical solutions and services keep our customers running, reduce downtime and total cost of ownership.
Lauren Shaffer
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412-925-7390
DUBLIN--(BUSINESS WIRE)--The "Denmark Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Denmark Renewable Energy Policy Handbook offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Electricity Supply Act
3 National Renewable Energy Action Plan (Target 2020)
4 Renewable Energy Targets
5 Draft-National Energy and Climate Plan (Target 2030)
6 Energy Strategy 2050
7 National Recovery and Resilience Plan - Green Transition
8 Hydrogen energy in Denmark
9 Promotion of Renewable Energy Act
10 Auctions
11 Net-metering
12 Loan guarantee for construction of wind energy plants
For more information about this report visit https://www.researchandmarkets.com/r/cb7z6o
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
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SOUTHFIELD, Mich.--(BUSINESS WIRE)--In its second transaction this quarter, Atwell has acquired Ben Dyer Associates, Inc., a 60-person engineering firm based in Maryland. Ben Dyer Associates specializes in civil engineering, land planning, and surveying services for land development and redevelopment projects throughout Maryland and the District of Columbia. The terms of the transaction were not disclosed.
This acquisition expands Atwell’s reach into the US Mid-Atlantic region and will strengthen Atwell’s ability to support a variety of land development projects, including single and multi-family residential, commercial, and industrial. Ben Dyer is also experienced in the power and energy market, enhancing Atwell’s ability to support solar projects on the east coast.
“Atwell and Ben Dyer share a similar business strategy – we guide and advise our clients through every stage of a project from concept to completion,” said Brian Wenzel, President and Chief Executive Officer of Atwell. “This acquisition supports an expansion into a new region for Atwell and is another meaningful advancement of our long-term strategic growth.”
“Alignment of culture and values is incredibly important for us,” said Steve Mauersberg, President of Ben Dyer Associates. “Ben Dyer and Atwell share a joint vision of improving our communities, helping our clients achieve success, and providing opportunities for our employees.”
The company founder, Ben Dyer, entered private practice as a registered professional engineer and land surveyor in 1935. In 1952, the company was incorporated as Ben Dyer Associates, Inc. Mauersberg began his career with Ben Dyer Associates in 1986. Every president’s career has spanned more than three decades with the company.
“We’re excited to welcome the members of Ben Dyer to the team,” said Bill Anderson, Vice President of Land Development in the US East at Atwell. “We believe that Ben Dyer is the right firm for expanding our geographic footprint while continuing to provide expert service to our land development clients.”
Atwell continues to expand its geographic footprint, service offerings, and capabilities through organic growth and strategic acquisitions. Last month, Atwell financed the acquisition of Cross Surveying, a 28-person land surveying firm based in Florida.
Atwell, LLC is a national consulting, engineering, and construction services firm with technical professionals located across the country totaling more than 1,400 team members. Creating innovative solutions for clients in industries such as real estate and land development, power and energy, and oil and gas, Atwell provides comprehensive turnkey services including land and right-of-way support, planning, landscape architecture, engineering, land surveying, environmental compliance and permitting, and project and program management.
Timothy Augustine, Vice President & Partner: ATWELL, LLC 248.447.2005 This email address is being protected from spambots. You need JavaScript enabled to view it.
Capital raise is milestone for construction of KOREPlex, a lithium-ion battery cell gigafactory scheduled to break ground in Arizona Q4 2022
COEUR D'ALENE, Idaho--(BUSINESS WIRE)--KORE Power, Inc. (“KORE”) has closed the initial $75 million tranche of a private placement (the “Financing”) anticipated to total $150 million. Siemens Financial Services was the lead investor and was joined by Quanta Services with additional strategic partners including Nidec Motor Corporation, Honeywell Ventures, Trog Hawley Capital and a leading utility scale energy storage provider. Goldman Sachs & Co. LLC acted as KORE’s Exclusive Placement Agent.
KORE is a leading U.S.-based developer of lithium-ion battery cells and manufacturer of integrated solutions for the e-mobility and energy storage sectors. KORE intends to use the proceeds of the Financing to commence the construction of its KOREPlex gigafactory in the Phoenix area and to purchase long lead-time items required for construction of the facility. The KOREPlex is expected to have initial annual production capacity of 6 GWh of high-density lithium-ion cells. Production is expected to expand to 12 GWh and beyond to meet expected market demand. The KOREPlex will also be among the first U.S. battery cell gigafactories built independently of an automotive OEM. This independence will allow the KOREPlex to supply batteries to a wide range of innovative e-mobility and energy storage customers. KORE will break ground on the KOREPlex this year, with initial output beginning in late 2024.
“Siemens Financial Services is proud to be the lead investor committed to backing KORE with both our capital and know-how. We support the industries and create the infrastructure forming the backbone of the American economy and apply that same commitment to the development of the battery industry in the U.S.," said Steffen Grosse, CEO of Equity Finance, Siemens Financial Services. "KORE's focus on manufacturing and vital industries such as energy storage, transportation electrification and grid modernization align with the strategic direction of SFS’ investments in the U.S. to date."
Earlier this year, BloombergNEF forecast a 30% compound annual growth rate in the energy storage market. Similarly, electrification in the mobility sector, which includes electric vehicles and charging infrastructure, is experiencing rapid growth. According to BloombergNEF, as of July, global electric vehicle sales were up more than 60% year-over-year.
Demand for KORE’s domestically manufactured batteries is expected to further increase due to the domestic content required to fully maximize the energy storage investment tax credit available under the recently passed Inflation Reduction Act.
“Strengthening domestic manufacturing capabilities for battery cells will be critical to the transformation and build out of energy infrastructure in the United States,” said Andrew Schwaitzberg, leader of energy transition initiatives at Quanta Services. “We are excited to invest and partner alongside leading energy innovators who also understand the importance of building and supporting a robust domestic supply chain. We expect our strategic alliance with KORE to enhance Quanta’s ability to deliver comprehensive energy solutions in partnership with our customers.”
Since last year’s announcement that the KOREPlex would be built in Arizona, KORE has announced a series of agreements to secure U.S. supply of materials used in battery cell manufacturing. KORE has also launched a vertically integrated energy storage solutions provider based in Vermont known as KORE Solutions.
“As a U.S.-based manufacturer with the ability to supply top-tier lithium-ion cells, the KOREPlex will take us to the next level. We will have American workers and an American supply chain driving the growth of clean energy and vehicle electrification,” said Lindsay Gorrill, CEO and Co-Founder of KORE Power. “In the coming months, we expect to announce additional agreements demonstrating our commitment to building a domestic supply chain for the KOREPlex and embracing a circular lifecycle for our products.”
About KORE Power
KORE is a leading U.S.-based developer of battery cell technology and integrated solution manufacturer for the energy storage and e-mobility sectors. With clients in energy storage, e-mobility, utility, industrial and defense markets, KORE provides battery products and solutions which are the backbone for decarbonization across the globe. As a U.S.-based, integrated provider of cells, batteries and solutions, KORE is uniquely positioned to serve these markets. Groundbreaking for the construction of the KOREPlex is scheduled for the fourth quarter of 2022 with commercial production scheduled for the fourth quarter of 2024. The KOREPlex will have initial annual production capacity of 6 GWh of battery cells, which will be expanded to 12 GWh to meet expected market demand. KORE is headquartered in Coeur d’Alene, Idaho, with operations in Waterbury, Vermont, and Buckeye, Arizona. For more information, visit www.korepower.com.
About Siemens Financial Services
Siemens Financial Services (SFS) – the B2B financing arm of Siemens – provides financing that makes a difference. At SFS, we empower customers around the globe to access technology with purpose and increase their competitiveness. Based on our unique combination of financial expertise, risk management and industry know-how we provide tailored financing solutions – including flexible leasing and working capital products, project-related and structured financing, corporate lending, equity investments, finance advisory, as well as trade and receivables financing. With highly experienced and passionate teams in 20+ countries, SFS paves the way for industrial productivity, smart infrastructure and sustainable mobility, facilitating the energy transition and enabling high-quality healthcare. Supporting the Siemens DEGREE framework, SFS is one of the leading providers in financing greenfield renewable projects. For more information, visit www.siemens.com/finance.
About Quanta Services
Quanta Services, Inc. is a leading specialized contracting services company, delivering comprehensive infrastructure solutions for the utility, renewable energy, communications, pipeline, and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. With operations throughout the United States, Canada, Australia and select other international markets, Quanta has the manpower, resources and expertise to safely complete projects that are local, regional, national or international in scope. For more information, visit www.quantaservices.com.
Cautionary Statement
Certain statements contained herein constitute forward-looking statements, including but not limited to statements about the plans, objectives, and expectations. All statements included herein, other than statements of historical fact, are forward-looking information, and such information involves various risks and uncertainties. KORE Power, Inc. believes the expectations reflected in these forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct, and such forward-looking statements in this news release should not be unduly relied upon. Forward-looking statements included in this news release are subject to risks and uncertainties that may cause actual results to differ materially and are made as of the date of this news release, and KORE Power disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by applicable securities legislation.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
The securities to be issued in connection with the offering described above are being offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and have not been registered under the Act or applicable state securities laws. Accordingly, such securities may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
David Jakubiak
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(708) 299-7733
Aleysha Newton
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(208) 758-9392
DUBLIN--(BUSINESS WIRE)--The "Growth Opportunities in Hydrogen as a Commercial Aviation Fuel" report has been added to ResearchAndMarkets.com's offering.
This study analyzes hydrogen use as aviation fuel. Along with sustainable fuels, industry stakeholders are looking at technologies such as direct electric propulsion as alternatives for jet fuel.
Traditional jet fuel comes from processing fossil fuels. As a result, its use in the aviation industry significantly increases carbon emissions, which are responsible for global warming and climate change.
The two primary methods for hydrogen use are fuel cells and direct combustion. Fuel cells deliver the cleanest outputs, making it preferable over direct hydrogen combustion, which emits nitrous oxides.
The hydrogen extraction method also determines its overall contribution to controlling emissions. Derived from fossil fuels, grey hydrogen is not entirely carbon emission-free as the extraction process releases carbon. Blue hydrogen, which is similarly derived, uses carbon capture techniques but is not wholly effective. The major difference in emissions control is achievable through green hydrogen usage, which is from renewable sources and is the cleanest.
Adjacent industries, such as automotive, space, and shipping, are adopting hydrogen. These developments are expected to drive its adoption in the aviation industry. As any new technology has pros and cons, stakeholders involved in hydrogen propulsion technology development, such as aircraft manufacturers, are working toward countering the challenges associated with hydrogen adoption.
Other information includes:
Key Topics Covered:
1 Strategic Imperatives
2 Growth Opportunity Analysis
3 Growth Opportunity Universe
4 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/kov94m
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Funding will be used for technical hiring, to grow its product development team, and to expand its EcoRail product line and customer base
MONTREAL--(BUSINESS WIRE)--#RailIndustry--RailVision Analytics, the company powering the railway industry into a new era of cleantech, announced today it has closed a US$4 million (CAD$5.5 million) seed funding round from investors that back entrepreneurs building the future of transportation. The investment – which was more than two times oversubscribed – was led by Trucks Venture Capital with participation from new investors MUUS Climate Partners, Blackhorn Ventures, Incite.org, and Measured Ventures, and returning investors Active Impact Investments and Neil Murdoch. RailVision will use the funding for technical hiring, to grow its product development team, and to expand its product line and customer base.
RailVision was launched in 2020 with the objective of helping the railway industry reduce its fuel consumption and lower greenhouse gas (GHG) emissions. Fuel is the largest cost to railroad companies after labor. While the railroad industry is open to innovations that will drive efficiencies, tools typically used by the sector to address the issue of high fuel costs are limiting, antiquated, and necessitate complicated integrations.
RailVision’s flagship EcoRail app was launched in 2021 to mitigate skyrocketing fuel prices by lowering consumption, reducing emissions, improving crew safety, monitoring operation compliance, and reducing wear on equipment for the $100B North American rail industry. EcoRail is a lightweight app used on a crew tablet. As it embraces a user interface similar to Google Maps, the app is easy for railroad engineers to adopt. In early demonstrations, EcoRail delivered meaningful fuel cost savings of 10 – 15% and in turn lower GHG emissions.
“The rail industry is the backbone of global supply chains and responsible for moving the majority of the world’s raw and finished materials. It also happens to be the most efficient – and environmentally friendly – transportation industry by nearly four times, yet is often overlooked in terms of opportunities for growth and innovation,” says Dev Jain, founder and CEO of RailVision. “This seed investment enables us to disrupt this status quo by developing technology that can drive growth and introduce innovation to this strong but stable industry, while further reducing its environmental impact. The funding also enables us to significantly expand our reach and deliver a robust solution for the larger Class I market.”
Over the past year, EcoRail has been in pilot testing with several companies, including Genessee & Wyoming, Metrolinx, Port of Montreal, and Via Rail. The app is now commercially available for deployment by all passenger and freight shortline railroads.
“RailVision takes a lightweight, software-only approach but with heavy savings for train operators,” said Reilly Brennan, General Partner at Trucks Venture Capital. “By using RailVision’s product, trains will burn less fuel, save more money, and make transportation better. We’re excited to see where the team takes the product in the future.”
RailVision’s product makes for a more economical option for trains compared to trucks. “The idea behind our vision is to not only highlight what’s possible in the railway industry but to also champion the adoption of rail with the goal of reducing heavy congestion and pressure currently placed on public roads, which will significantly lower GHG emissions,” says Jain.
“There is huge growth and impact potential in the rail sector yet not enough people are thinking about it,” says Mike Winterfield, Managing Partner of Active Impact Investments, Canada's largest climate tech seed fund. “Two impressive early pilots with major railways captured our interest and prompted our investment. Based on the traction RailVision has achieved to date, they are now very well positioned to attract a team that will help the company deliver significant savings to its customers.”
About RailVision
RailVision Analytics is developing in-cab technology for passenger and freight trains to drive efficiency and growth in the rail industry. RailVision’s EcoRail app directly reduces fuel consumption and GHG emissions through improved train handling. For more information, visit RailVision.ca.
Media:
Lizanne McReelis
Boulevard Public Relations
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Booster, Hyundai, Hyzon, Kenworth, Nikola, Voltera, and other leaders in transportation gather at Port of Long Beach event to showcase zero-emission technologies
SAN MATEO, Calif.--(BUSINESS WIRE)--Booster® — a leading mobile energy delivery company — will be joining top names in transportation at an event to showcase zero-emission technologies on December 7, 2022, at the Port of Long Beach in Long Beach, California. Hosted by the Harbor Trucking Association, the Zero-Emission Ride & Drive event brings together leading transportation companies, suppliers, and vehicle manufacturers that are actively working to combat the growing climate crisis by promoting the adoption of zero-emissions vehicles.
Booster joins the roster of exhibitors to present its progress in mobile fueling innovations, sustainable energy delivery, and decarbonization solutions. Zero-Emission event attendees can experience the technological advancements and learn more about the benefits of zero-emission trucks, buses, and heavy equipment. Attendees will also be able to explore advancements in mobile and stationary electric charging, offsite and onsite hydrogen fuel, ZEV infrastructure parking, and mobile ZEV repair.
Additional exhibitors include heavy-duty commercial vehicle manufacturers Hyundai, Hyzon, Kenworth, Nikola, and Peterbilt as well as regional utility company Southern California Edison and a variety of partners including GTL Hydrogen Trailers and Voltera.
Six heavy-duty zero-emission trucks — including battery-electric vehicles and hydrogen fuel-cell electric vehicles — will be on display from these exhibitors. Attendees have the option to ride, drive, or preview a Class-8 battery or fuel cell electric truck to educate participants about various zero-emission technologies.
“Zero-emissions vehicles and supporting infrastructure are critical assets to decarbonize transportation and accelerate the transition to clean energy,” said Frank Mycroft, founder and CEO of Booster. “The Zero-Emissions Ride & Drive event brings together some of the top players who are working to broaden adoption of zero-emission trucks, and Booster is thrilled to participate as a mobile energy partner.”
The Zero Emission Ride & Drive event comes on the heels of the Global Memorandum of Understanding on Zero-Emission Medium- and Heavy-Duty Vehicles (Global MOU), a global call to action by 16 leading nations to cut climate emissions from transport and accelerate the global zero-emission truck and bus segment. This coalition of countries are encouraging nations around the world to adopt a 100% zero-emission truck and bus sales target by 2040, with an interim goal of 30% zero-emission vehicle sales by 2030, to achieve net-zero carbon emissions by 2050.
Event Details:
Name: Zero-Emission Ride & Drive event
Date: Wednesday, December 7, 2022
Time: 10 am to 4:30 pm PT
Location: Port of Long Beach, 2100 West Anaheim, Long Beach, CA 90802
RSVP details: Event is open to the public, all are welcome. Attendees must pre-register to test drive a Class-8 electric or hydrogen fuel cell truck - register here.
About Booster
Booster is a tech-driven mobile energy delivery company on a mission to fuel the energy transition. Headquartered in San Mateo, California, Booster delivers conventional and renewable energy directly to fleet vehicles nationwide, lowering carbon emissions, reducing costs, and providing access to renewable fuels. At a time when the urgent desire to transition to a more sustainable energy future is far outpacing the development of infrastructure, Booster provides a critical solution for Amazon, Imperfect Foods, UPS, and hundreds of other customers — no filling stations, truck stops, or off-route trips required. For more information, visit boosterusa.com or connect with us on LinkedIn, Twitter, Facebook, and Instagram.
Booster Media Contact:
ASTRSK PR
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Media Hotline:
(408) 560-7434
DUBLIN--(BUSINESS WIRE)--The "China Renewable Energy Policy Handbook, 2022 Update" report has been added to ResearchAndMarkets.com's offering.
China Renewable Energy Policy Handbook 2022 offers comprehensive information on major policies governing the renewable energy market in the country.
The report discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of overall growth potential of the renewable energy industry. The report also provides major technology specific policies and incentives provided in the country.
The report is built using data and information sourced from industry associations, government websites, and statutory bodies.
Scope
Reasons to Buy
Key Topics Covered:
1 Renewable Energy Market, Overview
2 Renewable Energy Targets
3 Renewable Energy Law
4 International Science and Technology Co-operation Program for New and Renewable Energy
5 The 14th Five-Year Plan
6 Hydrogen Energy in China
7 Renewable Portfolio Standard (RPS)
8 Carbon Intensity Target
9 National Emission Trading Scheme (ETS)
10 Global Environment Facility (GEF) Grants
11 Subsidy-Free Solar, Wind Power Policy
12 Financial Incentives and Policy Support for Solar, China
13 Financial Incentives and Policy Support for Wind, China
14 Financial Incentives and Policy Support for Hydropower, China
15 Financial Incentives and Policy Support for Biopower, China
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