CONTACT Software explores new high-temperature applications for sustainable energy production
PV module innovations to help drive down solar costs in coming decade
Southeast Asia’s wind power needs US$14 billion new investments by 2030
Sumitomo Electric awarded for Redox Flow Battery Systems from Hokkaido Electric Power Network
ExxonMobil, FuelCell Energy Expand Agreement for Carbon Capture Technology
Yanmar Energy System Europe Established as Full-Service Energy Solutions Provider
Less waste and energy usage result of Olofsfors switch to SSAB steel
Fenix International’s inclusive employee ownership programme gives first-of-its-kind pay-out in Africa
Inatech Picks Romania to Expand Product Development in Oil Trading ETRM
Research from Schneider Electric Reveals Companies Unprepared for New Energy Economy
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580MW's of Solar Farm Projects being sold by Innovative Solar Systems, LLC
Innovative Solar Systems, LLC (ISS) is a US based Utility Scale Solar Farm Developer. ISS is currently offering for sale a 580MWac portfolio of high quality, high return Solar Farm Projects. The portfolio consists of sixteen (16) individual projects that total 580MWac of grid generation. This portfolio of projects has sites located in the following eight states: MT, CO, UT, AL, NC, SC, WA and TX. These projects are easy build, high return projects and will have excellent rate and term PPA's with credit worthy off takers. ISS is the leader in the development of Utility Scale Solar Farms and has sold approximately 2.7GW of projects to date. Large Investors, Capital Groups and Investment Funds all look to Innovative Solar Systems on a regular basis to supply their large Renewable Energy Investment needs, knowing that ISS develops and builds larger, higher return assets. This known quality allows investors and their stock holders much higher returns. ISS's projects will typically yield its buyers and investors the highest returns in the solar industry. Many factors contribute to ISS's success; such as 1) Better project sites requiring less preparation allowing for quicker build times, 2) ISS has master contracts with some of the best and most economical EPC's in the industry and is able to build projects out for 20-30% less than competitors, 3) Lower long term O&M contracts maximize returns 4) Quality sources of tax equity, 5) Stronger PPA's, 6) Experienced project designers capable of lowering final EPC build costs, 7) Significant in-house services negating clients need for outside consultants.
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Voltus Announces $10 Million Funding to Reinvigorate Innovation in Demand Response
Voltus, Inc., announced today that it has closed on a $10.1 million investment from Prelude Ventures and a family office represented by Energy Innovation. Voltus's suite of energy management products and services delivers cash to commercial, institutional, and industrial customers at no-cost and no-risk in a simple, single page agreement. Combined with Voltus's industry-leading energy expertise and best-in-class cloud-based technology platform, this investment is meant to solidify Voltus as the world's leading provider of demand response. "Customers are excited to take advantage of new demand response opportunities that can more than double the cash they're getting today," said Gregg Dixon, Voltus's CEO. "This investment will help us widen our lead in offering customers more demand response programs in more markets than any of our competitors. We're bringing transparency, simplicity, and energy markets expertise at a time when it's needed most, ultimately to deliver a simple promise: less energy, more cash." "The demand response market went through a rough patch when federal jurisdiction of the resource was called into question, ultimately resulting in a resounding victory at the United States Supreme Court for not only demand response but all distributed energy resources," said Veery Maxwell, Director of Energy Innovation, and now a member of the Voltus Board of Directors. "With this risk addressed, we were eager to invest in a truly innovative demand response solution that would reinvigorate growth in this vital national resource. Not only does Voltus have the most experienced and successful leadership team in demand response, but they developed a best-in-class distributed energy resource technology platform that scales for rapid growth while opening entirely new markets that others couldn't." "We learned quickly that Voltus customers really appreciate their focus on fundamentals and we're excited to support their aggressive plan to bring this industry back into focus," said Tim Woodward, Managing Director of Prelude Ventures, and now a member of the Voltus Board of Directors. "With hundreds of customers already signed, a proven technology platform that has already delivered greater than 100 percent performance to their utility customers, and a dream team of talent, we were sure from the first conversation that we wanted to be part of their vision."
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College of the Desert deploys JLM Energy's Foldrz renewable energy solution
College of the Desert today deployed a first-of-its-kind, renewable energy mobile unit made by JLM Energy, a California-based renewable technology company. The school will use Foldrz in sustainability education programs and as a recruiting tool with prospective students. Countless mechanical and electrical engineering hours went into designing and building Foldrz. Foldrz is fully equipped with the ability to generate, store and distribute power to critical operations, including integration with third-party generators, hydraulic motion controls, and the ability to track the sun. The system is monitored and managed using JLM Energy's innovative cloud-based software, Measurz. Students will be trained in: Renewable Technology Energy Storage Monitoring Software Energy Production Inverter Technology Hydraulics Jon Caffrey, project director for Prop. 39 Grant/Energize Colleges said, "We are proud to showcase our commitment to sustainability and renewables with this innovative and flexible technology. It'll help our Career Education students immensely to provide them with hands-on training in a real-world environment." Nathan Newsom, Vice president of sales at JLM Energy said, "College of the Desert is clearly committed to clean power and we are pleased to work with them to provide a venue for students to become aware of the importance of sustainability and explore careers in the field."
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Pioneer Launches Line of Private Label Engine Generators
Pioneer Power Solutions, Inc.("Pioneer" or the "Company"), today announced it is launching a comprehensive all-new line of power generation equipment designed for a broad spectrum of market segments, including but not limited to, prime power, standby power, agricultural, oil and gas, mobile, telecommunications and off-road applications. The line is expected to be marketed exclusively in eight states, and otherwise non-exclusively nationally, significantly expanding Pioneer's addressable market for engine generators. Branded as "Pioneer Critical Power," the complete line of engine generators, ranging from 9 kW to 2 MW of output per generator set, marks the Company's initial foray into offering its own line of power generation equipment. The units are available for order now and first shipments are expected to begin in the third quarter of 2017. Pioneer has already booked over $1 million in new orders for these new private labeled generators, including one order for four 500 kW Tier 4-Final generators with custom enclosures and automatic transfer switches valued at $850,000, representing the largest single generator order in Pioneer's history. Pioneer's diesel generator sets range from 9kW to 2,000kW, feature low operating costs for a wide variety of applications that require convenient and reliable power for EPA compliance for standby or prime power. All units come equipped with a two-year standard warranty and state-of-the-art engine and alternator for exceeding any application, along with common controller platforms for ease of use for your application needs. The Company's natural gas generator sets range from 25kW to 450kW and deliver clean, best-in-class power for standby or prime applications. Both product lines are designed and manufactured to operate in a multitude of environments and meet the most current EPA standards to provide users an efficient and innovative power solution.
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Quanta Services Acquires Stronghold
Quanta Services, Inc. announced today that it has completed the acquisition of Stronghold, Ltd. and Stronghold Specialty, Ltd. (Stronghold), a leading specialized services company that provides high pressure and critical path solutions to the downstream and midstream energy markets. Headquartered in La Porte, Texas, Stronghold has a strong presence in the strategically important Gulf Coast refinery and petrochemical market and serves nearly all regions of the United States. The company has achieved strong organic growth by leveraging its operational excellence to expand into ten distinct specialty services companies, each providing platforms for future growth. Stronghold generated revenues of approximately $500 million for the full year of 2016 and has a workforce averaging approximately 2,800 employees. The industrial services market is a natural service line expansion for Quanta, further enabling Quanta to meet energy customers' needs. Stronghold's operations will be reflected in Quanta's Oil and Gas Infrastructure services segment. "We remain positive on our 2017 and multiyear outlook and believe Stronghold is a strategic acquisition that will allow us to capture a greater portion of the energy industry operating and capital spend," said Duke Austin, President and Chief Executive Officer of Quanta Services. "With positive industry dynamics, visible cross-selling opportunities and Quanta's support, we believe there is a multiyear opportunity for Stronghold's operations to achieve double digit growth. Stronghold's recurring revenues, accretive operating income margin profile and strong free cash flow generation align well with our strategic imperatives for long-term profitable growth. Stronghold is led by a multigenerational, experienced and well respected management team and, importantly, has a world-class, industry leading safety record. We welcome all of Stronghold's employees to the Quanta family." The transaction consideration consists of an upfront payment of approximately $450 million, comprised of $360 million of cash and 2.7 million shares of Quanta Services common stock valued at approximately $90 million, with a cash and stock earnout that could provide maximum additional consideration of $100 million if cumulative three-year EBITDA targets are achieved. For the remainder of 2017, the acquisition of Stronghold is expected to generate $6.0 million to $7.5 million of net income attributable to common stock and to be accretive to Quanta's GAAP diluted earnings per share attributable to common stock by $0.02 to $0.03 and to non-GAAP adjusted diluted earnings per share attributable to common stock by $0.06 to $0.07, with accretion expected to increase in 2018. Adjusted diluted earnings per share attributable to common stock is calculated by adjusting net income attributable to common stock to account for, all net of tax, $3.0 million to $4.0 million of acquisition and integration costs, $2.0 million to $2.5 million of amortization expense associated with Stronghold's intangible assets and approximately $0.5 million of non-cash stock-based compensation expense. The allocation of the purchase price is preliminary and subject to change. "Quanta is an ideal cultural and strategic fit for Stronghold, and we are excited to join the Quanta family," said Joe Durham, Chief Executive Officer of Stronghold. "Both companies are committed to safety, our employees and our customers, which provide the foundation for success. Joining Quanta will provide significant resources to Stronghold as we look to build on our history of profitable growth and meet the growing needs of our customers in the years ahead." Stronghold's existing management team will remain in place, with founder Joe Durham continuing in his leadership role as Chief Executive Officer of Stronghold. With a skilled, dedicated and high-quality workforce, Stronghold will serve as a platform operating unit of Quanta. Harris Williams & Co. served as financial advisor and Baker Botts L.L.P. served as legal advisor to Quanta for the transaction.
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NASA Seeking BIG Ideas for Solar Power on Mars
Missions to the surface of distant planetary bodies require power – lots of power. Through the 2018 Breakthrough, Innovative, and Game-changing (BIG) Idea Challenge, NASA is enlisting university students in its quest for efficient, reliable and cost-effective solar power systems that can operate on Mars both day and night. The teams will have until November to submit their proposals. Interested teams of three to five undergraduate and/or graduate students are asked to submit robust proposals and a two-minute video describing their concepts by Nov. 30. NASA's Game Changing Development Program (GCD), managed by the agency's Space Technology Mission Directorate, and the National Institute of Aerospace (NIA) are seeking novel concepts that emphasize innovative mechanical design, low mass and high efficiency, with operational approaches that assure sustained power generation on the Mars surface for many years. It's not easy to harness the power of the sun from Mars. Depending on where spacecraft land, the angle and distance from the sun changes substantially during different seasons, affecting solar power flow management and performance. Martian dust is also a threat. It clings to everything on the surface and could form a blanket over solar panels. The goal is to have a reliable operating power source in place before astronauts ever step foot on the surface of Mars. That means solar array designs will need to fit compactly into a single cargo launch, have the capability to deploy robotically on the surface, and begin producing power soon after landing. The 2018 BIG Idea Challenge invites teams and their faculty advisors to work together to design and analyze innovations in the design, installation, and sustainable operation of a large solar power system on the surface of Mars, in the following areas: Novel packaging, deployment, retraction, and dust-abatement concepts Lightweight, compact components including booms, ribs, substrates, and mechanisms Optimized use of advanced ultra-lightweight materials and high efficiency solar cells Validated modeling, analysis, and simulation techniques High-fidelity, functioning laboratory models and test methods From these proposals, NASA and industry experts will select four teams to continue developing their proposed concepts, submit a technical paper, and present their concepts in a face-to-face design review at the 2018 BIG Idea Forum, held at a NASA center in early March 2018. Each of these four teams will receive a $6,000 stipend to participate in the forum. Student members from the BIG Idea Challenge winning team will receive offers to participate in paid summer internships at either NASA's Glenn Research Center in Cleveland, Ohio, or Langley Research Center in Hampton, Virginia, where they will continue developing their concept under the mentorship of NASA experts.
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