Legend Capital’s portfolio company Talent New Energy, a new Chinese powerhouse in the solid-state battery industry, recently announced the completion of its Series A++ financing round with several hundred million RMB. Legend Capital initially invested in Talent New Energy by joining the Pre-A financing round and continued to support the company’s development by following up this Series A++ financing round.
With the improved battery technology and continuous high oil prices, the penetration rate of new energy vehicles is rising. The penetration rate of new energy vehicles in China reached 25.3% in April, and according to the industry forecasts, it will increase to 35% by the end of the year. Under the global background of carbon peaking and carbon neutrality, the wind power, photovoltaic and energy storage industry are also ushering in a golden era, gradually replacing the traditional fossil energy. With the technical advantages of high safety and high specific energy, it is widely believed in the industry that solid-state batteries will become the next trillion-level super track and the ultimate solution for battery technology.
Technology innovation is the core path to support the realization of carbon neutrality. With the acceleration of vehicle electrification, applications such as energy storage have opened up a new trillion-level market. Legend Capital actively explores suitable investment opportunities in more advanced lithium battery technologies. As a brand-new technology solution, new energy solid-state batteries have been deeply explored by many giants and startups in China and around the world. With nearly 20 years of international and domestic solid-state battery R&D technology accumulation, the Talent New Energy team has determined the oxide technology route and the gradual development path from mixed solid-liquid to all-solid-state lithium battery since the establishment of the company in 2018.
Legend Capital stated: “under the leadership of the founder Dr. GAO Xiang, the Talent New Energy team has been conducting R&D with the goal of industrialization, not only achieving a comprehensive breakthrough in product performance but also making Talent New Energy the leading semi-solid-state battery company in the market in terms of mass production capability. After the completion of the first investment in Talent New Energy last year, Legend Capital has continued to support the company’s development by investing in each subsequent round of Talent New Energy’s financing, helping the company become a leader in the solid-state battery industry in various aspects such as capital and industrial resources.”
It is reported that Talent New Energy’s first semi-solid-state power battery production line in Chongqing will be put into production in October this year. Talent New Energy said that after this round of financing, the company would accelerate the integration of technological resources to set up an advanced energy materials research institute and a new energy technology industrialization joint R&D center in Beijing. The company is accelerating the mass production and commercialization of semi-solid-state lithium batteries and striving to launch the all-solid-state lithium-ion battery at the end of this year, providing advanced and reliable energy solutions to the new energy vehicle industry and electrochemical energy storage industry and providing “energy blocks” for the construction of new infrastructure for high-efficiency cross-space-time energy storage in the future human society.
Under the goals of carbon peaking and carbon neutrality, Legend Capital’s investments focus on energy system decarbonization, vehicle electrification/intelligence and synthetic biology. Energy decarbonization includes photovoltaics, wind power, smart grids; vehicle electrification/intelligence includes lithium battery vehicles, hydrogen fuel cell vehicles, battery recycling and others.
Legend Capital has long been optimistic about the electrification, intelligence, and automation of new energy vehicles. It has invested in numerous enterprises in automation equipment, lithium batteries and material in the past 10 years, many of which were went public successfully, such as Wuxi Lead Intelligent (300450.SZ), CNGR Advanced Material (300919.SZ), Putailai New Energy (603659.SH), Hymson Laser (688559.SH), Colibri Technologies (002957.SZ). Legend Capital is also one of the early investors of CATL (300750.SZ).
Category: Alternative Energy
BayWa r.e. wins big at Huawei APAC Digital Innovation Congress 2022
Global renewable energy developer, service provider and distributor, BayWa r.e. was the big winner at the Huawei APAC Digital Innovation Congress 2022 held in Singapore on May 19 and 20.
Topics of the Huawei APAC Digital Innovation Congress included ongoing advancements in ICT and speeding up digital transformation across industries, as well as green and low-carbon development.
Besides winning the Instructor Gold Award 2022, recognised for best in technical and after-sales support, BayWa r.e. also swept awards in the “20-Million Revenue”, “Top Seller” and “Excellent Marketing” categories.
Junrhey Castro, Managing Director, BayWa r.e. Solar Systems Corporation said, “These awards are not possible without the support and trust of BayWa r.e.’s customer base, and bear testament to the great work that our team have done. A customer-centric approach to business, coupled with the hard work and dedication of the local teams, have led us to being successful thus far and this will continue to spur BayWa r.e. on to greater heights.”
“Advancement of solar technology and innovations within the industry to match with the adoption of digitalization will accelerate solar industry growth in APAC and globally. Digitalization drives development and decarbonization ensures that this development is sustainable”, Castro added.
BayWa r.e. has been Huawei’s partner in sales, distribution, and a Certified Service Partner in Thailand since 2019, providing premium solar products and solutions, with the company seeing an exponential growth in the Thai market by 30%.
“BayWa r.e. has been an integral partner for our growth in the Thai market, with a promising outlook for our partnership in the Philippines and Vietnam. Their awards are much deserved, and we look forward to taking our future cooperation to the next new level”, Victor Sheng, Director of Huawei Digital Power Partner and Ecosystem Development, said.
Thailand has clear ambitions to further advance renewable energy adoption in order to meet the country’s target of reducing greenhouse gas emissions (GHG) to 20.8% below business-as-usual levels by 2030. Advanced solar technology with reliable and efficient service is vital to ensuring increased uptake of solar installations. BayWa r.e.’s partnership with Huawei aims to support this renewable energy growth in Thailand.
BayWa r.e. AG (BayWa r.e.)
At BayWa r.e. we r.e. think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.
We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4.5 GW of energy online and manage over 10 GW of assets. We are also an Independent Power Producer with an expanding energy trading business.
BayWa r.e. has one of the most experienced renewable energy teams in Asia Pacific with close to 200 employees working in the region across offices in Tokyo, Perth, Melbourne, Ho Chi Minh City, Cyberjaya, Seoul, Manila and our regional headquarter in Bangkok, Thailand.
BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.
Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.
Our shareholders are BayWa AG, a EUR19.8 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. Visit https://www.baywa-re.com/en/.
Huawei Technologies Co. Ltd
Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have more than 194,000 employees, and we operate in more than 170 countries and regions, serving more than three billion people around the world. We are committed to bringing digital to every person, home and organization for a fully connected, intelligent world. To this end, we will: Drive ubiquitous connectivity and promote equal access to networks; Provide the ultimate computing power to deliver ubiquitous cloud and pervasive intelligence; Build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; Redefine user experience with AI, making it more personalized for people across all scenarios, whether they’re at home, in the office, or on the go.
Contact Information
PRecious Communications for BayWa r.e. AG
Daniel Tan
Tel: +65 6303 0567
E-mail: baywa-re@preciouscomms.com
BayWa r.e. AG
Salim Pathan
Marketing Manager, APAC
Tel: +66 62 698 7162
Email: salim.pathan@baywa-re.com
Mark Cooper
Corporate Communications
Tel: +49 89 383932 3611
E-mail: mark.cooper@baywa-re.com
Olympus to Use 100% Renewable Electricity at R&D and Manufacturing Sites in Japan
- Leads to 70% renewable energy use on a global level and marks significant progress towards achieving net zero carbon emissions by 2030
Olympus Corporation (Olympus – Director, Representative Executive Officer, President and CEO: Yasuo Takeuchi) announces that from April 2022, the company has begun to exclusively source 100% of the electricity used at its major R&D and manufacturing sites in Japan from renewable sources.
As a result, CO2 emissions from Olympus Group facilities in Japan will be reduced by approximately 40,000 tons per year. The percentage of the Olympus Group’s total electricity use* in fiscal 2023 (ending March 2023) from renewable energy sources is expected to substantially increase from approximately 14% in the previous fiscal year to approximately 70%.
– Transition to Renewable Energy Usage across the Olympus Group (Facilities in Japan and Overseas)
FY2020 11.7%
FY2021 12.7%
FY2022 (estimate) 14% (approx.)
FY2023 (estimate) 70% (approx.)
*Excluding recently acquired companies, certain service offices, and certain sales offices.
Olympus has set a goal of achieving net zero CO2 emissions from its site operations by 2030, as part of its commitment to achieving environmentally responsible business growth and creating a sustainable society. This is a key goal in line with our ESG materiality targets focused on the theme of a “carbon neutral society and circular economy.”
The company has already introduced a wide range of initiatives to reduce CO2 emissions. This includes the use of 100% renewable energy at some manufacturing sites in Europe and the United States, the installation of solar power generation facilities at some manufacturing sites in Japan, and support of the recommendations made by the Task Force on Climate-related Financial Disclosures (TCFD)*.
To achieve its carbon neutral goal, Olympus will continue to optimize manufacturing processes and promote energy-saving measures, is committed to further accelerate the shift to renewable energy sources across the company, thereby contributing to the decarbonization of society on a global level.
About Olympus
Olympus is passionate about creating customer-driven solutions for the medical, life sciences, and industrial equipment industries. For more than 100 years, Olympus has focused on making people’s lives healthier, safer and more fulfilling by helping to detect, prevent, and treat disease; furthering scientific research; and ensuring public safety. Olympus is headquartered in Tokyo, Japan, with more than 30,000 employees worldwide in nearly 40 countries and regions. For more information, visit www.olympus-global.com and follow our global Twitter account: @Olympus_Corp (https://twitter.com/olympus_corp).
Olympus Contact
Communications
Contact Olympus: https://www.olympus-global.com/products/contact/
*News release “Olympus Targets Carbon Neutrality by 2030 – Adds Carbon Neutrality and Circular Economy to its ESG Materiality and Supports the Recommendations of the Task Force on Climate-Related Financial Disclosures”:
https://www.olympus-global.com/news/2021/contents/nr02125/nr02125_00001.pdf
Pacific Green and Shell Enter Into Energy Optimisation Agreement for Pacific Green’s 99.98 MW Richborough Energy Park Battery Development
Pacific Green Technologies, Inc. (the Company or Pacific Green, (OTCQB:PGTK) announces that it has entered into an agreement with Shell Energy Europe Limited (Shell) wherein Shell will provide dispatch trading and optimisation services for the 99.98 MW Richborough Energy Park battery energy storage system (BESS) the Company is developing in Kent, England (the Agreement).
Under the terms of the Agreement, Pacific Green will be responsible for the construction, operation and maintenance of the BESS, while Shell will purchase the capacity and have the exclusive right to provide optimisation services for the next ten years.
Scott Poulter, Pacific Green’s Chief Executive, commented: “As one of the world’s most prominent energy providers, Shell has proven itself to be a leader in the power trading and optimisation sectors. With this BESS development set to become one of the UK’s largest batteries, finding an experienced and reputable optimizer is essential to the success of this project, and we are confident we have found that in Shell.”
Tom Summers, Vice President, Shell Energy Europe and Africa, remarked: “We are pleased to have signed this agreement with Pacific Green on a project which will assist the UK’s transition to a flexible and low carbon energy system. We see battery systems like Pacific Green’s as a key contributor to Shell becoming a net-zero emissions business by 2050.”
About Pacific Green Technologies, Inc.
Pacific Green Technologies, Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers BESS, Concentrated Solar Power (CSP) and Photovoltaic (PV) energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit Pacific Green’s website: www.pacificgreentechnologies.com
About Shell Energy Europe Limited
Shell Energy Europe Limited provides advanced and high-value solutions for energy assets and commodities, including natural gas, power and environmental products, across 14 European power markets. It provides business customers with innovative, reliable and cleaner energy solutions and helps them navigate through the energy transition. Shell Energy Europe Limited acts through its agent, Shell Trading and Shipping Company Limited.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the construction of the 99.98 MW BESS the Company is to develop in Kent and the continuation of the Agreement; and any potential business developments in the UK and future interest in the Company’s battery, solar and emissions control technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the Agreement and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company’s annual report on Form 10-K for the most recent fiscal year, the Company’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659
SOURCE: Pacific Green Technologies, Inc.
Pacific Green Appoints the Principal Contractor and Operations & Maintenance Provider for its Richborough Energy Park Battery Storage System in the UK
Pacific Green Technologies, Inc. (the Company or Pacific Green, (OTCQB:PGTK)) announces that it has entered into an agreement with Instalcom Limited (Instalcom) to be the principal contractor (the Principal Contractor Agreement) for its 99.98 MW battery energy storage system (BESS) in development at Richborough Energy Park in Kent, England.
The award of this Principal Contractor Agreement, in conjunction with the battery supply agreement previously signed with Shanghai Election Gotion New Energy Technology Co., Ltd., paves the way for construction to begin in early July 2022.
Scott Poulter, Pacific Green’s Chief Executive, commented: “Instalcom has a 30 year track-record of delivering complex, large-scale energy infrastructure projects throughout the UK. We’re very pleased to have found such a partner with their capabilities, dedication and the resources to support Pacific Green as we rapidly scale up our battery energy park developments in the UK to 1.1 GW and beyond.”
As well as the Principal Contractor Agreement, Pacific Green has also awarded Instalcom with an operations and maintenance contract (the “Operations & Maintenance Agreement”) to provide comprehensive operations and maintenance services for Pacific Green’s Richborough Energy Park. The Operations & Maintenance Agreement will begin at the start of Richborough Energy Park’s commercial operations via the UK’s National Grid in June 2023.
Vince Bowler, Instalcom’s Managing Director, remarked: “Instalcom is very excited to be supporting Pacific Green in the development and delivery of this low carbon technology project that will make a positive contribution to the UK’s Build Back Greener Net Zero Strategy.”
Scott added: “This is another huge milestone in Pacific Green’s corporate growth into one of the world’s leading vertical energy developers. Our UK pipeline utilizes Pacific Green’s proprietary “ODCO2 Energy Development Platform” to deliver end to end capital efficient renewable energy and storage parks to the market.”
About Pacific Green Technologies, Inc.
Pacific Green Technologies, Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers BESS, Concentrated Solar Power (CSP) and Photovoltaic (PV) energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit Pacific Green’s website: www.pacificgreentechnologies.com
About Instalcom Limited
Instalcom is a Utility Contractor operating in the power, water, telecoms, rail and oil & gas sectors. Instalcom is owned by OCU Group Limited, who operate with a work force in excess of 2,000 personnel and annual revenues exceeding EUR210 million (US$264 million).
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the construction of the 99.98 MW BESS the Company is to develop in Kent, the continuation of the Principal Contractor Agreement and the continuation of the Operations & Maintenance Agreement; and any potential business developments in the UK and future interest in the Company’s battery, solar and emissions control technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the Principal Contractor Agreement and the continuation of the Operations & Maintenance Agreement, and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company’s annual report on Form 10-K for the most recent fiscal year, the Company’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659
SOURCE: Pacific Green Technologies, Inc.
Mooreast Outlines Strategies to Enhance Mooring Solutions for the Floating Renewable Energy Sector
Mooreast Holdings Ltd (SGX:1V3) announced plans to expand its mooring and rigging solutions product portfolio and to enhance partnerships with international players in order to extend its value proposition to the global floating offshore renewable energy sector.
The Board of Directors of Mooreast Holdings Ltd. would like to update shareholders on several developments in the Group’s business and growth strategies since the release of its financial performance for the year ended 31 December 2021 (FY2021) in February 2022. The full announcement to the SGX is appended below:
Having successfully completed its Initial Public Offering (IPO) on the Singapore Exchange Catalist Board on 24 November 2021, the Group intends to leverage its listed status and stronger balance sheet to strengthen its foothold within the global floating offshore renewable energy sector. These post-IPO strategies include:
(I) expanding its product portfolio of mooring and rigging solutions to better support renewable energy customers;(ii) establishing collaborations with international companies involved in the sector; and (iii) enhancing capabilities within its newly established Yard Division at its new premises at 51 Shipyard Road in Singapore.
New Products for the Renewable Sector
Mooreast has been actively developing and marketing a suite of innovative mooring and rigging solutions catering to various markets, with particular focus on floating renewable platforms.
– Anchors :
In Q2/2022, the Group, through its subsidiary Mooreast Europe, secured a EUR1 million (approx S$1.46 million) order for MA9P anchors, the latest model designed and produced by Mooreast, for one of Bluewater Energy Services’ projects. Bluewater Energy Services, founded in 1978, is headquartered in The Netherlands. With the anchors expected to be delivered by the end of August 2022, the contract underscores the rapid market acceptance of our proprietary design, which debuted in January 2022. The Group foresees its MA9 anchors becoming a core model for the floating wind energy market due to their versatility and high holding capacity.
– Floating Solar Farm Solution :
The Group has also successfully completed a tank test for Moorfloat, a proprietary solution catered to serve floating solar farms. Conducted by the National Maritime Research Institute in Japan, Moorfloat was tested to be able to withstand wave conditions of up to 3 metres, making it a resilient platform for developers to install offshore solar panels.
The breakthrough Moorfloat design overcomes several mooring limitations faced by many floating solar projects currently. Its modular design facilities also make it easy to transport. The floater can be used in remote areas, as well as an alternative to other floating infrastructure projects for on-grid and off-grid renewable energy generation. The Group aims to have a full-scale demonstration ready by end of 2022.
– Chain Stopper :
The Group has also developed a Dual Axis Chain Stopper, a critical component which integrates the floater with the mooring system. Mooreast’s Dual Axis design allows greater degrees of freedom for the mooring line. This feature minimizes fatigue and wear on mooring chains, making it suitable for long-term mooring applications and reliability. The Group has already received in-principle approval from the American Bureau of Shipping, one of the leading classification societies in the world, and has already started marketing the product to customers in the offshore energy market.
– Other Products :
Among other products, Mooreast is also developing an in-line tensioner, which allows the use of simple fixed stoppers and floating wind developers to tension mooring lines without mobilising expensive offshore assets such as a floating crane, thereby reducing installation costs.
From Products to Total Solutions
These products underscore the Group’s ability to add value to our mooring projects. By developing or assembling a host of innovative products, backed by strong engineering basis and analysis capabilities, Mooreast is positioning itself as a holistic, total solutions provider for a variety of floating platforms used to support offshore renewable energy generation.
This approach is being adopted amid growing emphasis globally to harness open water bodies further from shore for renewable energy. While such projects can reduce the environmental impact of terrestrial and near-shore projects, they require greater technical skills to meet more demanding conditions as well as increasing environmental standards.
Assessment of Recent Commercialisation of Offshore Wind Energy Projects
Offshore wind energy is expected to make up an increasing portion of the world’s energy mix. A reported 4.2 GW of new offshore wind capacity, an all-time high, will be added to Europe in 2022[1], and capacity addition is set to continue increasing in the next few years. In April 2022, Taiwan’s biggest offshore wind farm began generating power[2], and more offshore wind installations are in the pipeline. These projects underscore the shifting demand toward offshore renewable wind energy, as this sector crosses the tipping point for commercialisation.
Developers are moving their wind turbines offshore, beginning with coastal shores and progressively moving into deeper waters, where floating platforms are a more viable solution to building fixed structures into the seabed. These developers will require offshore and mooring experience to anchor these floating platforms to the seabed, while weathering the harsh conditions of the open sea.
Establishing New Partnerships
Against this backdrop, another thrust of the Group’s post-IPO strategy has been to deepen penetration into the renewable energy sector globally. Since February 2022, Mooreast has established collaborations with several leading Japanese companies in the energy, construction and engineering space to pursue opportunities in floating wind farms in Japan and other countries. Mooreast will provide technical advice and support on mooring systems for such projects.
The Group will also focus its efforts to strengthen collaborations with developers in the UK, France, Korea, Taiwan and USA. As more floating renewable projects begin to reach commercialisation, the Group will be able to leverage its experience and track record to capture market share.
Enhancing Yard Division in Singapore
The Group established a new Yard Division in September 2021. Taking advantage of the 192-meter waterfront facility at 51 Shipyard Road, this division provides a suite of afloat repair, upgrade and reactivation services to vessel owners and agents. It also offers shipbuilding services for small and mid-sized vessels in our workshops and open yard.
Between September 2021 to April 2022, the Group served over 144 vessels, and expects demand to continue increasing as more vessels take the opportunity to carry out maintenance and overhaul during the recent spike in oil and gas prices.
In response, we have continued to enhance the waterfront berth at our yard, upgrading quayside power supply units to provide offshore power to vessels, thereby reducing their reliance on marine fuel where possible.
The Group is also offering various supplies and services to yacht owners and agents, such as load testing, changing crane wires, and provision of mooring equipment. By increasing greater synergy among our divisions, Mooreast seeks to provide holistic solutions to various vessels docked at our berth.
Outlook
Through its involvement in projects since 2013, Mooreast has developed a strong track record as a mooring solutions leader for the renewable sector. While the Group remains cautious about the economic outlook due to global geopolitical developments and the pandemic, it believes that the strategies initiated and the recent IPO have built a much stronger business foundation.
About Mooreast Holdings Ltd.
Mooreast Holdings Ltd (“Mooreast”) is a global leader in the provision of total mooring solutions, including design, engineering, fabrication, supply, installation and commissioning. Headquartered in Singapore, we are leveraging on our expertise and three decades of proven track record in the offshore, marine and oil & gas sectors as we transition to the renewable energy sector including floating wind farms.
[1] https://tinyurl.com/offshore-wind-biz-20220421
[2] https://tinyurl.com/cnbc-20220422
For more information, please visit https://mooreast.com.
Mooreast Holdings: [ Catalist; SGX:1V3 ] [ BBG; MOOR:SP ] [ RIC; MOOR:SI ]
Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.
Media & Investors:
WeR1 Consultants Pte Ltd
Isaac Tang, e:Â mooreast@wer1.net, m: +65 9748 0688
This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, W Capital Markets Pte. Ltd. This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the SGX-ST) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release. The contact person for the Sponsor is Mr Chia Beng Kwan, Registered Professional, W Capital Markets Pte. Ltd., at 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Tel (65) 6513 3541.
By Order of the Board
Sim Koon Lam
CEO and Deputy Chairman
30 May 2022
B20 ESC Task Force to link performance, SDG targets with policies
The B20 Energy, Sustainability, and Climate (ESC) Task Force has continued to strengthen steps to produce policy recommendations under the Indonesian G20 Presidency.
As part of the effort, the ‘Fourth Task Force Call Meeting’ was held online for members on Tuesday (May 24, 2022).
The meeting, which was accessed from Jakarta, was led directly by Pertamina president director and chair of the task force, Nicke Widyawati.
It was attended by around 140 participants comprising deputy chair of the ESC Task Force, Agung Wicaksono; policy manager of the task force, Oki Muraza; eight co-chairs of the task force; and B20 members from 19 industries and 25 countries.
Among the topics the 4th meeting focused on was the addition of aspects of SDGs and key performance indicators (KPI) to policy recommendations.
“Based on the results of discussions between the Task Force and the Implementing Council, it has been agreed that all Task Force B20 should link the SDG goals that are relevant to the draft policy recommendations and develop KPIs as monitoring indicators in policy designs,” Widyawati said.
She reiterated that the main objective of the forum is to ensure inclusivity in the formulation of recommendations and policies, wherein all members of the task force get the opportunity to express their views.
“I hope that we can work together in formulating policy proposals that are effective and can be implemented as well as able to represent the interests of the business community from B20 member countries,” she said.
The policy manager of the task force, Oki Muraza, outlined several KPI proposals in policy recommendations, which are expected to serve as indicators while monitoring the course of policy recommendations, including increasing the percentage of renewable energy from the total global energy supply and creating jobs related to clean energy and low-emission technologies.
“We have compiled this KPI considering the policies that have been made in the Italian B20 presidency by adding several aspects that are in line with the B20 policy recommendations this year,” Muraza said.
In addition, the policy recommendations made should be in line with the Sustainable Development Goal (SDG) targets, such as those related to affordable clean energy (SDG No. 7 Affordable and Clean Energy) and climate action (SDG No. 13 Climate Action).
On the same occasion, deputy chair of the task force, Agung Wicaksono, informed that the task force still has one Task Force Call in June 2022 for submitting final policy recommendations.
Wicaksono said he expects the task force members to continue to provide inputs and views on the preparation of policy recommendations that have an impact and can be followed up by the G20 leadership.
In addition, he also listed several other important activities that will be held by the task force after the last Task Force Call, including the B20/G20 Ministerial Dialogue in July 2022; an investment forum titled “2nd Partners in Energy Transition,” which will be organized in collaboration with the Indonesian Ministry of Foreign Affairs; the “SOE Trade & Investment Forum,” which will be held in collaboration with the Ministry of State-Owned Enterprises in September; and the B20 Summit in November.
Contact: Fajriyah Usman, VP Corporate Communications, PT Pertamina (Persero)
M: +62 858 8330 8686, Email: fajriyah.usman@pertamina.com, URL: https://www.pertamina.com
Written by: Azis Kurmala, Editor: Suharto (c) ANTARA 2022
Samaiden Group Berhad’s 3Q Net Profit Gains 291% to RM4.19 Million
Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants, today announced that Samaiden Group recorded a 385.03% increase in revenue to RM43.80 million for the third quarter ended 31 March 2022 (3Q FY2022) compared with RM9.03 million registered in the corresponding quarter of FY2021 (3Q FY2021).
Profit before tax (PBT) for 3Q FY2022 increased by 257.68% to RM5.73 million compared with RM1.60 million achieved in 3Q FY2021, and profit after tax (PAT) registered an increase by 291.22% to RM4.19 million compared with RM1.07 million in 3Q FY2021.
For the nine-month period ended 31 March 2022 (9M FY2022), Samaiden Group recorded a 243.07% increase in revenue to RM97.04 million compared with RM28.28 million in the corresponding period of FY2021 (9M FY2021) while PBT gained 103.38% to RM11.62 million compared with RM5.71 million in the corresponding period of the previous financial year.
Samaiden Group’s PAT gained 104.22% to RM8.51 million in 9M FY2022 compared with RM4.16 million in 9M FY2021.
Group Managing Director of Samaiden, Ir. Ms. Chow Pui Hee said, “We continue to see lots of interest in RE given the government’s push to reduce carbon dioxide emissions under the fourth cycle of the Large-Scale Solar programme (LSS4). This has been encouraging for us in terms of our financial performance as we have secured approximately RM300.0 million in EPCC contracts under the fourth cycle LSS scheme, Net Energy Metering and Self Consumption scheme since the start of FY2022. The new contract wins bring the current outstanding orderbook to RM410.0 million, which will contribute positively to Samaiden Group’s top and bottom line over the next three years.”
“Apart from leveraging our core competency and experience in providing end-to-end EPCC services for solar PV projects, we are expanding sales and technical support locally and in Vietnam. We have also diversified into providing EPCC services for biomass RE power plants and we are in the midst of developing a 1.2 MW biogas power plant in Kelantan that will provide Samaiden Group with a recurring income stream from the sale of electricity produced by the power plant to the state’s power grid.”
“We are cautiously optimistic that Samaiden Group’s financial performance for the rest of FY2022 will be satisfactory as the pipeline of RE projects will increase due to the government’s drive for more environmentally friendly and greener sources of energy.”
Samaiden Group Berhad:Â https://samaiden.com.my/
Pacific Green Signs Purchase Agreement for 99.98 MW Battery Energy Storage System for Its First Battery Energy Park in the UK
Pacific Green Technologies, Inc. (the Company or PGTK, (OTCQB:PGTK)) announces the signing of an agreement with Shanghai Electric Gotion New Energy Technology Co., Ltd. (Shanghai Electric Gotion) to supply the battery energy storage system (BESS) for its 99.98 MW battery energy park the Company is developing at Richborough Energy Park in Kent, England (the Agreement).
The Agreement, which is part of the strategic manufacturing framework agreement signed by the parties last year, is a key milestone in the Company’s development of its 1.1 GW BESS pipeline in the United Kingdom. Production and delivery of the BESS will begin later this year, with a unique just-in-time approach used to minimize the duration between production and energization of the batteries.
Scott Poulter, PGTK’s Chief Executive, commented: “We have worked very closely with Shanghai Electric Gotion to develop a battery system specifically optimized for the UK market and we are pleased to place the first order for our 1.1 GW UK pipeline. The Richborough Energy Park will be operational by mid-2023.”
Shanghai Electric Gotion, which was formed in 2017 in an unprecedented partnership between parent companies, Shanghai Electric Group Co., Ltd. and Guoxuan High-tech Co., Ltd., integrates research & development, production and testing across 10 GWh of planned capacity, ensuring the company will remain one of the largest energy storage producers in the world.
Scott added: “Now that we have started production on the first 99.98 MW BESS project in our pipeline, we are scaling our resources and management internally to enable Pacific Green to execute the 1.1 GW. Based on the platform we are building, we are looking to be the UK’s leading battery park developer within the next 12 months.”
About Pacific Green Technologies, Inc.
Pacific Green Technologies, Inc. is focused on addressing the world’s need for cleaner and more sustainable energy. The Company offers BESS, Concentrated Solar Power (CSP) and Photovoltaic (PV) energy solutions to complement its marine environmental technologies and emissions control divisions. For more information, visit PGTK’s website: www.pacificgreentechnologies.com
About Shanghai Electric Gotion New Energy Technology Co., Ltd.
Shanghai Electric Gotion New Energy Technology Co., Ltd. is a joint-venture between Shanghai Electric Group Co., Ltd. and Guoxuan High-tech Co., Ltd. With multiple production facilities and a long-established history in technology manufacturing and supply-chain management, Shanghai Electric Gotion is well positioned to provide lithium-ion BESS technology around the world.
Notice Regarding Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the construction of the 99.98 MW BESS the Company is to develop in Kent; and any potential business developments in the UK and future interest in the Company’s battery, solar and emissions control technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the investment and the ongoing impact of the COVID-19 pandemic. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in the Company’s annual report on Form 10-K for the most recent fiscal year, the Company’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Scott Poulter, Chairman & CEO
Pacific Green Technologies
T: +1 (302) 601-4659
SOURCE: Pacific Green Technologies, Inc.
Soluna Raises $35M from Spring Lane Capital to Build Green Data Centers for Crypto, Machine Learning
Soluna Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (“SCI”), secured $35 million in project financing to develop green data centers co-located with renewable energy assets. Spring Lane Capital, a private equity firm, invested private funds in Soluna as a part of their strategy focused on hybrid project capital for sustainability solutions in the energy, food, water, waste and transportation industries. The capital will help develop three behind-the-meter (BTM) projects designed to convert wasted renewable energy into clean computing services such as bitcoin mining and artificial intelligence.
“Soluna is the only true green bitcoin company we’ve yet seen,” said Rob Day, Spring Lane Capital Partner and Co-Founder. “Going after wasted renewable energy ‘spilled power’ is a compelling solution and fixes both bitcoin’s climate problem and wind power’s grid problem.”
Michael Toporek, CEO of Soluna Holdings, Inc. said, “Consistent with our previously articulated strategy, we continue to pursue opportunities that we believe enable us to optimize our cost of capital. The Spring Lane Capital approach helps us develop a mature repeatable model that can be scaled.”
The first of the three projects, Dorothy, named in honor of African American mathematician and human computer Dorothy Vaughan, is expected to be energized later this summer and coincide with the launch of a local STEM program. The Dorothy project is a 100 MW data center with a 50 MW initial phase, connected to a Texas wind farm that produces more electricity than the grid can consume. Soluna’s data center is currently estimated to create between 25 to 50 highly skilled jobs for technicians, security and electrical staff.
The other two projects funded by the new capital will come from Soluna’s robust pipeline.
John Belizaire, CEO of Soluna Computing, Inc., said, “We are honored to have a pioneering sustainability project finance firm like Spring Lane Capital back our vision. Our model of leveraging excess clean energy to generate low-cost computing is the future of green bitcoin mining and green data centers.”
Spring Lane Capital has a successful track record helping sustainable technology companies raise capital to build flagship projects. Their ‘hybrid project capital’ approach provides project equity along with additional growth capital.
Added Day: “Soluna is driving demand for clean power by giving a floor price and improving the bottom line of the renewable power partners they work with. The ultimate result is more wind farms and solar farms that would not otherwise be built.”
At power plants like the wind farm where the Dorothy project is under construction, excess energy is wasted when the grid becomes overloaded or demand is too low. Soluna’s scalable solution allows every excess megawatt to be used for batch-oriented, computing-intensive processes, such as cryptocurrency mining and machine learning. Additionally, flexible demand consumers help stabilize the grid by preventing power overload, which can otherwise lead to blackouts and grid malfunction.
Last month, Soluna Holdings (SCI’s Computing’s parent company), sold its Albany-based MTI Instruments subsidiary for $10.75 million, expanding its focus on helping the modern grid absorb more renewable energy through flexible green data centers.
About Soluna Holdings, Inc.
Soluna Holdings, Inc. (Nasdaq: SLNH), which operates through its subsidiary, Soluna Computing, Inc. is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular, scalable data centers for computing-intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’ For more information about Soluna, please visit solunacomputing.com or follow us on LinkedIn and Twitter.
Investor Relations:
Kirin Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com
Media contact:
Bridgette Borst Ombres, Tigercomm
(304) 546-3788
bombres@tigercomm.us