- With over 184,000 attendees from 160 countries, ADIPEC 2023 was the most commercially successful edition to date
- Several deals directly advance global decarbonisation goals through innovative clean technology solutions and collaborative projects
- The event delivered over US$350 million in economic benefits for the UAE economy in hospitality, tourism, and travel-related business
- ADIPEC 2023 brought together over 2,200 exhibiting companies and 16,500 delegates under the theme of ‘Decarbonising. Faster. Together.’
ABU DHABI, UAE, Nov. 14, 2023 /PRNewswire/ — ADIPEC 2023 was the most commercially successful edition in the event’s nearly 40-year history, generating US$8.8 billion in business for the global energy industry, as well as delivering over US$350 million in event-related business to the United Arab Emirates (UAE) economy.
ADIPEC 2023, which took place in Abu Dhabi from 2-5 October, under the theme of Decarbonising. Faster. Together., convened global energy leaders and leading voices from across the energy ecosystem to accelerate urgent, collective action and game-changing solutions to decarbonise quicker and future-proof the energy system.
The US$600 million increase in commercial deals, up from the US$8.2bn figure recorded in 2022, reinforces the event as a leading global platform for the energy industry to come together, do business and push the global energy transition agenda forward, towards a cleaner, more secure and sustainable future.
During ADIPEC, ADNOC announced its investment in the Hail and Ghasha offshore development project that aims to operate with net zero carbon dioxide emissions, a first globally. The company also announced the Habshan carbon capture, utilisation, and storage (CCUS) project, in Abu Dhabi, which will be among the largest carbon capture projects in the Middle East and North Africa region.
Occidental subsidiary, 1PointFive, and ADNOC also signed an agreement to explore the feasibility of a 1 million tonne-per-year direct air capture (DAC) facility in the UAE. In addition, a milestone electric-liquefaction train system was awarded for ADNOC’s Ruwais LNG export terminal, supporting the plant’s clean power processes as one of the lowest carbon intensity LNG facilities in the world.
Meanwhile, OMV and Wood signed an agreement for the commercial licensing of OMV’s ReOil technology, which converts end-of-life plastic waste into pyrolysis oil, a valuable renewable energy resource that replaces conventional fuels while enhancing the circularity of plastics.
Discussing the impact of this year’s event, Tayba Al Hashemi, Chair of ADIPEC 2023 and CEO of ADNOC Offshore, said: “ADIPEC continues to play a critical role in the global energy transition, assembling a broad range of key policymakers and CEOs for extensive and impactful discussions on the future of our global energy system and facilitating meaningful partnerships and deals.
“With the most comprehensive agenda in its nearly 40-year history, ADIPEC 2023 shed new light on the industry’s priorities, focusing on the pressing need to decarbonise across the entire value chain. The event stimulated new thinking and ideas on a diverse set of issues, including the creation of circular economies and innovative methods for achieving carbon neutrality in hard-to-abate sectors and re-energised the industry-wide commitment to creating a truly sustainable energy system.”
As well as being a catalyst for multiple industry deals, ADIPEC 2023 also drove activity across the UAE’s economy, generating over US$350 million worth of economic benefits for the local economy, particularly in the hospitality, tourism, and transport sectors.
In support of the UAE’s goal to diversify its economy, Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, announced Abu Dhabi would provide 100 investment opportunities with a combined market size of Dh123.3 billion (US$33.5 billion) by 2027 under the ‘Abu Dhabi Channel Partners’ initiative.
Christopher Hudson, President of dmg events, organisers of ADIPEC 2023, said: “ADIPEC 2023 engaged directly with the new priorities of the energy market, bringing together key stakeholders to collaborate around decarbonisation solutions and the development of a secure, profitable and sustainable energy future.
“These efforts not only set the tone for the entire energy industry and its adjacent sectors but also led to significant benefits for both the global and local economy, once more highlighting the central role of cross-sector partnerships and consistent investment in delivering a just, clean and effective energy transition. As we look ahead to 2024, ADIPEC will build upon this year’s success and drive positive change across the energy sector.“
ADIPEC 2023 grew significantly in size and reach, welcoming record participation from NGOs – including Ipieca, Environmental Defense Fund, the Oil & Gas Methane Partnership, the International Renewable Energy Agency (IRENA) and the International Energy Forum (IEF) – as well as diverse voices from energy-adjacent industries including aviation and other heavy industries, finance and technology.
The event also attracted a record-breaking 184,000-plus attendees from 160 countries and over 2,200 exhibiting companies. The conference programme delivered over 350 sessions, featuring the insights of more than 1,600 speakers – including more than 40 government ministers and 220 C-suite global energy executives – who convened to forge paths to decarbonisation through action-oriented and strategic dialogues.
In the lead up to COP28 in the UAE, ADIPEC 2023 helped set the agenda for the energy industry’s push to decarbonisation and the global energy transition by tackling the core challenges of the energy transition – climate technology, investment, energy security and affordability – and helping align the global energy industry’s efforts to lower emissions while maintaining economic growth.
ADIPEC 2024 will take place in Abu Dhabi on 11-14 November 2024 with a mission to continue to support the global energy transition and collective decarbonisation.
Held under the patronage of H.H. Sheikh Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates, and hosted by ADNOC, ADIPEC took place in Abu Dhabi on October 2-5, 2023, under the theme of ‘Decarbonising. Faster. Together.’ ADIPEC 2024 is set to take place in Abu Dhabi on 11-14 November 2024 where it will continue to address global challenges on the road to net zero.
Built on a nearly 40-year legacy of innovation and evolution, ADIPEC brings together the ideas, ambition, technology and capital needed to decarbonise and create the energy system of the future, faster. It unites key stakeholders from across the energy value chain to accelerate urgent, collective and responsible action, produce credible, game-changing solutions, and foster the transformational progress needed to create an inclusive, future-proof energy system.
Across 350 unique sessions comprising strategic and technical conferences, ADIPEC 2023 welcomed more than 1,600 speakers – including government ministers, CEOs, policymakers, energy experts and innovators – to rally industries, sectors and individuals around a common cause, encouraging collaboration and the action required to advance the world’s decarbonisation goals.
As the UAE prepares to welcome global leaders to COP28 in November 2023, ADIPEC helped drive critical conversations that complement the nation’s goal of delivering a COP of collaborative action, while driving investment into the clean energies of the future.
For more information visit: www.adipec.com
ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximise the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit: www.adnoc.ae
HOUSTON, Nov. 14, 2023 /PRNewswire/ — KBR (NYSE: KBR) announced today it has signed a Memorandum of Understanding (MoU) with Korea-based ISU Chemical for a commercial ammonia cracking project to be based in Ulsan, Republic of Korea. The project will employ KBR’s innovative technology, H2ACT℠, which has rapidly emerged as the industry’s leading ammonia cracking technology.
Under the terms of the MoU, KBR will provide licensing, proprietary engineering design, proprietary equipment, and catalyst for the planned 10 MTPD hydrogen production unit, with operations scheduled to commence in the first half of 2026.
“We are pleased to extend our collaboration with ISU Chemical to include this important project. This paves the way for the wider adoption of ammonia cracking for the production of hydrogen in support of the transition to a hydrogen economy,” said Doug Kelly, KBR President, Technology. “KBR is continuing to lead energy transition projects globally, and along with ISU, we look forward to demonstrating the value of clean ammonia and hydrogen towards achieving our net zero targets.”
KBR is a world leader in ammonia technology. Since 1943, KBR has licensed and designed more than 250 ammonia plants across the globe.
We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 34,000 people performing diverse, complex and mission-critical roles in 33 countries.
KBR is proud to work with its customers across the globe to provide technology, value-added services, and long-term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.
Forward Looking Statements
The statements in this press release that are not historical statements, including statements regarding the performance of the company’s MoU with ISU Chemical, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, many of which are beyond the company’s control, that could cause actual results to differ materially from the results expressed or implied by the statements. These risks, uncertainties and assumptions include, but are not limited to, those set forth in the company’s most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks and other U.S. Securities and Exchange Commission filings, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
SOURCE KBR, Inc.
Technology further integrates portfolio across C3 value chain, creating more tailored and comprehensive customer solutions
HOUSTON, Oct. 30, 2023 /PRNewswire/ — Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced the commercial availability of its Saplene™ super absorbent polymer (SAP) technology. The process uses acrylic acid as the main feedstock to produce SAP, which consumer goods manufacturers use to produce liquid-absorbing personal hygiene products and other specialty applications.
“Introducing this technology to the market is another significant step for our portfolio expansion across the C3 value chain,” said Leon de Bruyn, President and Chief Executive Officer, Lummus Technology. “Combining our existing portfolio with SAP technology and our recently acquired acrylic acid technologies positions Lummus at the forefront of the specialty high-value polymer technology market and enables us to offer customers more tailored and integrated solutions.”
Saplene SAP technology is commercially proven, and previously developed and operated at scale by the Songwon Industrial Group of South Korea. The technology has also been licensed for a 45 KTA industrial plant.
Recently, Lummus announced it acquired the rights to Air Liquide’s acrylic acid and acrylic acid esters technologies using propylene as the main feedstock. As a result, Lummus now offers the full chain of technologies for the production of SAP and acrylate esters from propylene, which is a key intermediate in the petrochemical value chain.
The addition of SAP technology strengthens Lummus’ comprehensive polymer technology portfolio, which consists of Novolen® polypropylene technology, EXCENE™ high-density polyethylene technology, and polyhydroxyalkanoaote (PHA) technology. In addition, Lummus offers a complete range of highly competitive technologies for propylene production that can be offered in combination with the polymer technologies. These include CATOFIN® propane dehydrogenation, SRT® steam cracking, olefins conversion technology, Indmax® fluid catalytic cracking, and ORION™ oxidative coupling of methane.
About Lummus Technology
Lummus Technology is the global leader in developing technology solutions that make modern life possible and focus on a more sustainable, low carbon future. We license process technologies in clean fuels, renewables, petrochemicals, polymers, gas processing and supply lifecycle services, catalysts, proprietary equipment and digitalization to customers worldwide. To learn more about Lummus, visit www.LummusTechnology.com.
SOURCE Lummus Technology, LLC
- Duke Energy transitions to fully regulated utility focused on significant grid and clean energy investment plan
CHARLOTTE, N.C., Oct. 25, 2023 /PRNewswire/ — Duke Energy (NYSE: DUK) today announced it has completed the sale of its unregulated utility-scale Commercial Renewables business to Brookfield, operator of one of the world’s largest publicly traded, pure-play renewable power platforms. The sale agreement was previously announced on June 12, 2023.
Duke Energy will use the proceeds from the transaction to strengthen its balance sheet and avoid additional holding company debt issuances. This will allow the company to focus on the growth of its regulated businesses, including investments to enhance grid reliability and help incorporate over 30,000 megawatts of regulated renewable energy into its system by 2035.
“The completion of this sale marks the final step in our transition to a fully regulated utility,” said Lynn Good, Duke Energy chair, president, and CEO. “As we work to address the growing needs of our customers in our regulated jurisdictions, we will continue investing in cleaner energy resources and significant grid enhancements that will deliver value and energy resiliency to our customers and stakeholders.”
The primary operations of the Commercial Renewables business will remain in Charlotte, N.C. and the Duke Energy employees that support the business will transition over to Brookfield to maintain business continuity for its operations and customers.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are serving as financial advisors to Duke Energy for this transaction. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to Duke Energy.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America’s largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio, and Kentucky. The company employs 27,600 people.
Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune’s 2023 “World’s Most Admired Companies” list and Forbes’ “World’s Best Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, and videos. Duke Energy’s illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management’s beliefs and assumptions and can often be identified by terms and phrases that include “anticipate,” “believe,” “intend,” “estimate,” “expect,” “continue,” “should,” “could,” “may,” “plan,” “project,” “predict,” “will,” “potential,” “forecast,” “target,” “guidance,” “outlook” or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to:
- The ability to implement our business strategy, including our carbon emission reduction goals;
- State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;
- The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;
- The ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations, asset retirement and construction costs related to carbon emissions reductions, and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process;
- The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;
- The impact of extraordinary external events, such as the pandemic health event resulting from COVID-19, and their collateral consequences, including the disruption of global supply chains or the economic activity in our service territories;
- Costs and effects of legal and administrative proceedings, settlements, investigations and claims;
- Industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy, reduced customer usage due to cost pressures from inflation or fuel costs, and the economic health of our service territories or variations in customer usage patterns, including energy efficiency efforts, natural gas building and appliance electrification, and use of alternative energy sources, such as self-generation and distributed generation technologies;
- Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures, natural gas electrification, and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in a reduced number of customers, excess generation resources as well as stranded costs;
- Advancements in technology;
- Additional competition in electric and natural gas markets and continued industry consolidation;
- The influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;
- Changing investor, customer and other stakeholder expectations and demands including heightened emphasis on environmental, social and governance concerns and costs related thereto;
- The ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the United States electric grid or generating resources;
- Operational interruptions to our natural gas distribution and transmission activities;
- The availability of adequate interstate pipeline transportation capacity and natural gas supply;
- The impact on facilities and business from a terrorist or other attack, war, vandalism, cybersecurity threats, data security breaches, operational events, information technology failures or other catastrophic events, such as fires, explosions, pandemic health events or other similar occurrences;
- The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers;
- The timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;
- The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions, an individual utility’s generation mix, and general market and economic conditions;
- Credit ratings of the Duke Energy Registrants may be different from what is expected;
- Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;
- Construction and development risks associated with the completion of the Duke Energy Registrants’ capital investment projects, including risks related to financing, timing and receipt of necessary regulatory approvals, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;
- Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;
- The ability to control operation and maintenance costs;
- The level of creditworthiness of counterparties to transactions;
- The ability to obtain adequate insurance at acceptable costs;
- Employee workforce factors, including the potential inability to attract and retain key personnel;
- The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);
- The performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities, as well as the successful sale of the Commercial Renewables Disposal Groups;
- The effect of accounting and reporting pronouncements issued periodically by accounting standard-setting bodies and the SEC;
- The impact of United States tax legislation to our financial condition, results of operations or cash flows and our credit ratings;
- The impacts from potential impairments of goodwill or equity method investment carrying values;
- Asset or business acquisitions and dispositions may not yield the anticipated benefits; and
- The actions of activist shareholders could disrupt our operations, impact our ability to execute on our business strategy, or cause fluctuations in the trading price of our common stock.
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants’ reports filed with the SEC and available at the SEC’s website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media contact: Jennifer Garber
SOURCE Duke Energy
CALGARY, AB, Oct. 10, 2023 /PRNewswire/ – Summit Nanotech (“Summit”) announces the appointment of Sandro Mazzini as Chief Commercial Officer (CCO). Mazzini brings over 30 years of experience in process technology design and commercial development strategy to Summit, with an extensive record of delivering valuable customer engagements in a global capacity. His expertise, both on the technical and commercial sides, also includes catalyst research, operations and maintenance, technical sales, and marketing.
“I’m extremely excited to have Sandro join our executive leadership team,” said Amanda Hall, Chief Executive Officer. “He has demonstrated success in complex sales strategies within the energy and engineering industry reaching across five continents, including the Americas.”
Mazzini will lead business development including customer and strategic asset partnerships, technical sales support for testing and processing brines, and overseeing the entire value chain. He joins Summit with a vast and diverse history of technology commercialization and relationship development in the energy sector with Technip Energies, KBR, Shell, and UOP.
“Summit Nanotech has a technology that will change the landscape of lithium mining,” said Sandro Mazzini, CCO. “Electric vehicle demand is on an unprecedented trajectory, and I am honoured to join Summit in building and securing a sustainable supply chain for this critical metal.”
Mazzini joins the team following the opening of Summit’s US and Argentinian subsidiaries, two hubs supporting the hiring of local talent, partnerships with local communities, and the deployment of their technology. Summit will be sponsoring and speaking at the upcoming Benchmark Week, (Benchmark Mineral Intelligence) and the LATAM & Argentina Lithium Summit.
ABOUT SUMMIT NANOTECH
Summit Nanotech Corporation is a cleantech organization transforming how the world accesses lithium for EV batteries and the global energy transition. Their patented and sustainable direct lithium extraction (DLE) technology, denaLi™, extracts high-quality lithium from brine using a sorbent and water recovery solution, making way for a sustainable alternative to the traditional extraction process.
denaLi ™ will preserve ecosystems and optimize operations for lithium producers in Chile and Argentina. Established in 2018 and headquartered in Calgary, Alberta, Summit Nanotech has been awarded to the 2022 Future 50 for fastest growing sustainability companies in Canada, the Foresight 50 for most investable cleantech venture, and the Solar Impulse Foundation’s Efficient Solutions Label. Learn more at summitnanotech.com.
SOURCE Summit Nanotech
New Loan Brings Total to $50 Million Arranged by GCL for Aemetis Project, Which Processes Methane From California Dairy Farms Into Carbon Negative Renewable Natural Gas for Use as Transportation Fuel
RENO, Nev., Aug. 9, 2023 /PRNewswire/ — Greater Commercial Lending (GCL), which provides government-guaranteed loans to businesses and organizations in under-served and rural communities, has completed its second $25 million loan for the Aemetis Biogas Central Dairy Digester Project. The first $25 million loan was completed in October 2022.
The loan, guaranteed by the U.S. Department of Agriculture (USDA) through the Rural Energy for America Program (REAP), will finance the construction of biogas digesters and related assets for eight dairies located in Stanislaus County and Merced County, California. The digesters capture biomethane from animal waste, which is delivered via pipeline to a central facility that converts the biogas into carbon negative renewable natural gas (RNG) for use as a transportation fuel. The RNG has a negative Carbon Intensity rating because it removes damaging methane gas emissions from the environment and converts the biomethane into a transportation fuel to replace diesel.
“Renewable fuels projects such as the Aemetis dairy renewable natural gas project play a pivotal role in shaping a sustainable future for our planet. However, their successful implementation often requires substantial financial support that isn’t easily accessible through traditional financing sources,” said Jeremy Gilpin, president of GCL, one of the largest providers of USDA loans. “Government-guaranteed loans are critical in advancing these innovative technologies. As we embrace renewable energy, harnessing the power of government-guaranteed financing becomes indispensable in creating a sustainable and thriving future for generations to come.”
The second phase of the project will expand Aemetis Biogas from its current seven operational dairy digesters to biogas digesters at 15 dairies, supplying an estimated 400,000 MMBtu per year of carbon negative RNG. The initial phase of the project, which also included a 40-mile biogas pipeline, was made possible by the first USDA-guaranteed loan completed by GCL.
“We are grateful for our continued working relationship with Greater Commercial Lending, which enables us to expand our operations to improve air quality and reduce carbon pollution,” said Eric McAfee, Chairman and CEO of Aemetis. “This project would not have been possible without USDA-guaranteed financing.”
The Aemetis biogas project, when fully built, will connect biogas digesters spanning more than 65 dairy farms and produce more than 1,650,000 MMBtu of renewable natural gas from captured dairy methane each year. The project is on track to reduce greenhouse gas emissions equivalent to an estimated 6.8 million metric tonnes of carbon dioxide over 10 years, equal to removing the emissions from approximately 150,000 cars per year, according to Aemetis.
Magnolia Bank of Elizabethtown, Kentucky provided the primary funding for the loan. The loan was made to Aemetis Biogas 2, LLC, a wholly owned subsidiary of Aemetis, Inc.
About Greater Commercial Lending
Greater Commercial Lending (GCL) is a credit organization that brings together banks, credit unions and other lenders to provide U.S. government-guaranteed loans to businesses and initiatives in rural and under-served markets throughout the U.S. and its territories. It helps finance key infrastructure services, like power, renewable energy, transportation and fiber optics, as well as schools, hospitals, restaurants, agriculture, hotels and manufacturers. GCL partners with the U.S. Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA), which guarantee loans, to arrange credit at favorable terms. GCL’s network of lenders includes nearly 200 banks, credit unions and other financial institutions.
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the Carbon Zero sustainable aviation fuel (SAF) and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals. For additional information about Aemetis, please visit www.aemetis.com.
SOURCE Greater Commercial Lending
SAN JOSE, Calif., Jan. 24, 2023 /PRNewswire/ — FranklinWH Energy Storage Inc., a leading whole-home energy management firm, is pleased to announce Mr. Vincent Ambrose as Chief Commercial Officer, responsible for the firm’s commercial and operational development in the North American market.
An impassioned advocate for renewable energy, Mr. Ambrose brings to the team a breadth of experience in sales, marketing and business operations with an in-depth specialty in renewable energy and sustainability. Prior to joining FranklinWH, Vincent led the North American Sales and Operations at Canadian Solar Inc., inclusive of over 5GW of annual solar components to the US, Canada, Mexico and Caribbean. He was responsible for single largest sales contract in company history while managing full P&L responsibility for more than $1 billion annual revenue.
A seasoned leader with an ability to execute complex transactions and pioneer unique solutions optimizing business to drive operational value, Vincent has over 25 years of senior management experience in management, sales, e-commerce, marketing and finance roles.
Gary Lam, Co-Founder of FranklinWH, said, “Acquiring and investing in proven human resource talent and technology is foundational to the long-term success at FranklinWH. Mr. Ambrose’s leadership has significant positive implications not only for FranklinWH, but also for our customers and business partners.”
Franklin Home Power (FHP) is a whole-home power management system integrating solar, battery, grid and generator power sources to optimize the safety, reliability and efficiency of home energy. To provide the solution to customers, FranklinWH continues to extend business partnerships with distributors and installers.
FranklinWH Energy Storage Inc., is a privately funded cleantech company leading the development and deployment of whole-home energy management and battery storage solutions. Headquartered in the San Francisco Bay Area and funded by Sequoia Capital, FranklinWH’s team has decades of experience in energy systems, from design, through manufacturing, to sales and installation.
To know more about FranklinWH, please visit www.franklinwh.com. You can also visit our social media for more information.
SOURCE FranklinWH Energy Storage Inc.
Project is first completed in Advanced Power’s renewables pipeline
BOSTON, Jan. 23, 2023 /PRNewswire/ — Advanced Power announced today that its Cutlass Solar project has achieved full commercial operations and continues to supply reliable, renewable power to the Greater Houston area.
The completed project is a 140-Megawatt (MW) direct current, photovoltaic solar generating facility that began delivering power into the ERCOT system in July 2022. Today’s announcement completes the transition from construction and testing to full commercial operations. Advanced Power will continue as the facility’s asset manager and SOLV Energy is its operator.
Advanced Power and its co-investors, ENEOS Corporation and Fuyo General Lease Co., Ltd. own the facility.
“Cutlass Solar exemplifies Advanced Power’s continuing growth as a global developer, manager, and owner of modern power infrastructure. We are committed to bringing reliable power to growing areas that need it, such as Greater Houston,” said Collin Brown, Advanced Power’s vice president of development based in Houston. “We are equally pleased to be contributing to the community through tax revenues to support the county and local schools.”
“This is a state-of-the-art renewable electric generating facility that will benefit the region with sustainable energy for years to come,” said John Coleman, the project’s director of construction, who is also Houston-based. “Many people and organizations from Greater Houston were instrumental in building this vital new power resource which is benefiting ERCOT’s energy portfolio and the people of Texas who rely upon it. We’re proud of what we’ve accomplished together.”
Bechtel, a global leader in the design and execution of complex power projects for more than 60 years, was responsible for the engineering, procurement and construction of the facility.
More About Cutlass Solar and Advanced Power’s renewables pipeline
Cutlass Solar sits on a 700-acre site located approximately 40 miles southwest of Houston in Fort Bend County, Texas. It employs bifacial solar panels provided by JA Solar and technology that includes a ground-mounted single-axis tracking system.
Cutlass Solar is Advanced Power’s first operational project in a robust 8-Gigawatt (GW) renewable and low-carbon development pipeline across the United States. Additional projects in the ERCOT pipeline include:
- Talitha Energy – 189 MW direct current (dc) with the optionality to add battery storage
- Oriana Solar – 232 MWdc with the optionality to add battery storage
- Eldora Energy – 238 MWdc with the optionality to add battery storage
- Elio Energy – 190 MWdc with the optionality to add battery storage
- Alina Energy – 245 MWdc with the optionality to add battery storage
For more information about Advanced Power’s completed projects and those in active development, visit www.AdvancedPowerNA.com.
About Advanced Power
Advanced Power is a privately-owned global developer, manager, and owner of modern power infrastructure. As an independent power producer, the company develops low-carbon and renewable electric generating projects in North America. Advanced Power presently has 8-Gigawatts in development or operations in the United States and Europe.
Advanced Power is focused on advancing a sustainable energy future, bringing reliable energy to places that need it, and providing economic benefits and jobs to communities while making massive contributions to reducing CO2 emissions.
SOURCE Advanced Power