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Anew Achieves Six First Place Rankings in Environmental Finance Annual Market Survey

Published on February 29, 2024 | Houston

Anew Climate, LLC is honored to have earned client recognition in 11 categories in the 2023 – 2024 Environmental Finance Annual Market Rankings. This achievement was made possible through client nominations and demonstrates the sustained strength of Anew’s innovative and diverse solutions portfolio. Environmental markets continue to rapidly evolve to address global climate goals, and Anew remains at the leading edge to ensure we produce trusted results for our clients that create economic value as well as durable climate impact.

Anew was voted number one in the following categories:

  • Best project developer: North American Markets (All – includes Canada and Mexico)
  • Best project developer: California
  • Best trading company, options & futures: North American Markets (California)
  • Best trading company: North American Markets (RGGI)
  • Best trading company: Renewable Identification Numbers Market
  • Best advisory/consultancy: Renewable Identification Numbers Market

Anew was awarded runner-up in the following categories:

  • North American Markets (California): Best trading company, OTC/spot
  • North American Markets (All – includes Canada and Mexico): Best trader
  • Energy Attribute Certificates – North America: Best trading company
  • Energy Attribute Certificates – North America: Best advisory
  • Renewable Natural Gas Market: Best trading company

This set of awards continues a series of consecutive wins by Anew, including the ninth year running for Best Project Developer All North American Markets, Best Advisory/Consultancy – Renewable Identification Numbers Market (eight years running), and Best Trading Company – RGGI (seven years running) and a second consecutive win for Best Trading Company and Advisory/Consultancy – RINs markets.

Insights on the company’s successes over the past year and what Anew is anticipating in the year ahead can be found in Environmental Finance’s interview with CEO Angela Schwarz.

The rankings, now in their 24th year, represent the largest international environmental markets survey. Respondents vote for companies based on their influence in the market, quality of products and services, and transaction efficiency among other criteria.

About Anew Climate

Anew Climate, LLC, is a global leader of diverse climate solutions built on the principles of transparency and accountability. We bring innovative products and services to the public and private sectors to help reduce or offset their carbon footprints, restore the environment, and ensure our clients’ investments create economic value as well as durable climate impact. With deep market understanding, Anew leverages technological and nature-based solutions to create value through the generation and marketing of environmental credits for low carbon fuel, carbon, renewable energy, and emissions markets. Anew is majority owned by TPG Rise, TPG’s global impact investing platform. The company has offices in the U.S., Canada, Spain, and Hungary and an environmental commodities portfolio that extends across five continents.

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Form Energy snags $30M grant for California’s largest long-duration energy storage project

The company plans to build a 5-MW/500-MWh iron-air battery storage project at a Pacific Gas & Electric substation in Mendocino County.

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Permian Resources Corporation Announces Secondary Public Offering of Class A Common Stock

MIDLAND, Texas–(BUSINESS WIRE)–Permian Resources Corporation (“Permian Resources” or the “Company”) (NYSE: PR) today announced the commencement of an underwritten public offering of an aggregate 39,414,415 shares of its Class A Common Stock, par value $0.0001 per share (“Class A common stock”), by certain affiliates of NGP Energy Capital Management L.L.C., Riverstone Investment Group LLC and EnCap Investments L.P. (the “Selling Stockholders”).

The underwriter intends to offer the shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices. Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.

Concurrently with the closing of the offering, the Company intends to purchase (the “Concurrent OpCo Unit Purchase”) from certain of the Selling Stockholders an aggregate 2,252,252 common units representing limited liability company interests (“OpCo Units”) in Permian Resources Operating, LLC, a Delaware limited liability company and a subsidiary of Permian Resources (“OpCo”), at a price per OpCo Unit equal to the price per share at which the underwriter purchases shares of Class A common stock in the offering and to cancel a corresponding number of shares of the Company’s Class C Common Stock, par value $0.0001 per share, held by such Selling Stockholders. The offering of Class A common stock is not conditioned upon the completion of the Concurrent OpCo Unit Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon the completion of the offering.

J.P. Morgan Securities LLC is serving as the underwriter for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The proposed offering is being made pursuant to a registration statement previously filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) that became automatically effective upon filing on November 8, 2023.

The proposed offering will be made only by means of a prospectus and prospectus supplement that meet the requirements under the Securities Act of 1933, as amended (the “Securities Act”). Copies of the preliminary prospectus supplement and accompanying base prospectus and final prospectus supplement, when available, may be obtained from: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com; or by accessing the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy shares of Class A common stock or any other securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful without registration or qualification under the securities laws of any such state or jurisdiction.

About Permian Resources

Headquartered in Midland, Texas, Permian Resources is an independent oil and natural gas company focused on the responsible acquisition, optimization and development of high-return oil and natural gas properties. Permian Resources’ assets and operations are concentrated in the core of the Delaware Basin.

Cautionary Note Regarding Forward-Looking Statements

The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this press release, regarding the completion of the offering and the Concurrent OpCo Unit Purchase, the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this press release, the words “could,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “goal,” “plan,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Be cautioned that these forward-looking statements are subject to all of the risk and uncertainties, most of which are difficult to predict and many of which are beyond Permian Resources’ control, incident to the development, production, gathering and sale of oil and natural gas. These risks include, but are not limited to, commodity price volatility, inflation, lack of availability of drilling and production equipment and services, risks relating to the Company’s ability to realize the anticipated benefits and synergies of its merger with Earthstone Energy, Inc. Actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors, including, but not limited to, those set forth in the Company’s filings with the SEC, including the prospectus relating to the offering, the Registration Statement (as defined below), its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and its subsequent Quarterly Reports on Form 10-Q, under the caption “Risk Factors,” as may be updated from time to time in the Company’s periodic filings with the SEC. Any forward-looking statement in this press release speaks only as of the date of this release. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

Contacts

Hays Mabry – Sr. Director, Investor Relations
Mae Herrington – Engineering Advisor, Investor Relations
(832) 240-3265
ir@permianres.com

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Segue Sustainable Infrastructure Closes Second Capital Pool

SAN FRANCISCO – December 7, 2023 – ( Newswire.com )

Segue Sustainable Infrastructure, a provider of development capital for domestic renewable energy and storage projects, has closed Segue Renewables II (“SR2”), the successor capital pool to Segue Renewables I (“SR1”), which closed in the summer of 2021. SR2 will continue to support developers of clean energy and storage projects — at any stage — with flexible capital, aligned partnership, and the experience and patience to navigate the non-linear journey from idea to power plant.

SR2 is capitalized by NGP — which was also the largest investor in SR1 -— supplemented by commitments from Segue’s management team. “Continuing to partner with NGP as our primary source of capital was a no-brainer. They’ve struck a wonderful balance between giving us space to operate efficiently and effectively while bringing their expertise and relationships to bear when the moment calls for it,” said Segue’s Managing Partner David Riester.

NGP’s commitment to SR2 represents a continued expansion of its investments across sustainable real assets. Sam Stoutner, a partner at NGP, focused on the sector. “Segue’s unique strategy and ability to reach deep into the clean energy sector offers NGP access to a compelling niche within a high-priority area for our sustainable real assets vehicle. We continue to be impressed by the performance of the SR1 portfolio, and look forward to deepening our relationship with Segue’s outstanding team through our commitment to SR2.”

SR1 is fully committed, with 16 different investments across solar, storage, EV charging depots, and a tax credit monetization platform. The overwhelming majority of Segue’s investments to date have been direct capital infusions into portfolios of development stage projects, in partnership with on-the-ground development partners with local expertise and day-to-day execution responsibility.  Segue partner Kristina Shih describes the company’s development partners as “an eclectic mix of experienced frontline project developers ranging from one-person shops to medium-sized firms … from de novo spinouts to long-established industry mainstays. The common thread is a desire to bet on oneself to create more value by carrying their projects deeper into development.”

Segue has made two opportunistic venture-like seed-stage investments in EV Realty, a commercial EV charging depot developer, and Reunion Infrastructure, the leading tax credit transfer marketplace. “There are certain combinations of founder team and strategy that we’re simply not able to let pass us by, even if the investment deviates a bit from our core business focus. EVR and Reunion were exactly that,” offers Joe Song, a partner at Segue. “We believe when it comes to the world’s energy mix, time is of the essence, so most of our capital goes towards deployment of assets that provide high probability of direct, near-term impact. We are project backers and practitioners focused on staying in the trenches of infrastructure deployment.”

Across its 14 development partnerships, SR1’s portfolio includes ~100 individual projects representing ~20,000MW of capacity. This pipeline includes projects in CAISO, WECC, MISO, SPP, ERCOT, SERC, PJM, NE ISO, NYISO, AESO and IESO in Canada, and is diversified across utility scale solar, community solar, distributed BESS, and utility scale BESS.

SR1 has enjoyed early liquidity arising from a handful of project/portfolio sales, among them i) two ERCOT/TX solar assets, ii) an ERCOT/TX BESS project, iii) four Ontario BESS assets, and iv) two TVA solar projects. Additional realizations are in various stages of closing. Segue usually expects to sell projects near NTP, after development risk is extinguished. However, some assets are opportunistically sold earlier. “This market is still inefficient and unpredictable, so we avoid being prescriptive or rigid when it comes to project sales; we like to say that everything is always for sale, but nothing must sell,” says Leslie Hodge, Segue’s general counsel, who has spearheaded much of Segue’s M&A activity, and was recently promoted to partner.

Segue’s team stands at 11, having recruited a handful of experienced, talented members to the team in preparation for SR2, including Wopamo Osaisai (Director of Portfolio Operations), Katie Vorhis (Deputy General Counsel), Nicolas Ilg (Associate), and Will Hanley (Associate) in 2023. Riester believes staying small and nimble is core to the firm’s success. “Some of our best opportunities are relatively small, and a bit quirky, so we are reticent to ‘grow ourselves out’ of that space.” With that in mind, the strategy for SR2 is unchanged.

“For better or worse, the clean energy capital market is volatile and extremely dynamic. Our experience over the years is that if you remain nimble, flexible, and calm, innumerable opportunities for exceptional risk-adjusted returns await. It just so happens that plugging up the holes that arise from this market inefficiency keeps the energy transition moving along at a good clip, offering a deeply satisfying impact-driven backdrop to the work we do,” says Riester.

About Segue Sustainable Infrastructure

Segue Sustainable Infrastructure invests in development-stage energy transition projects and the infrastructure enabling them. Our team capitalizes, de-risks, optimizes, and monetizes projects to allow developers to capture more value. For more information, please visit www.segueinfra.com.

About NGP

NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $20 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future. For more information, visit www.ngpenergy.com.

Contact Information:

David Riester

CEO

team@segueinfra.com

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NGP invests in PhysicsX

PhysicsX emerges from stealth with $32M for AI to power engineering simulations

Tech Crunch Article – Ingrid Lunden  

A lot of the buzz these days in artificial intelligence is around generative AI and how AI is being used to accelerate software and products for consumers. Today, an AI startup called PhysicsX — co-founded by a former Formula One engineering superstar and a computer science whizz — is emerging from stealth with a very specific focus on building and operating physical systems in the enterprise world.

London-based PhysicsX has come up with an AI platform to create and run simulations for engineers working on project areas like automotive, aerospace and materials science manufacturing — industries where there are regularly bottlenecks in development due to how models are tested before production. It is coming out of stealth today with $32 million in funding.

The round, a Series A, is being led by General Catalyst. Others in the round include a very interesting mix of financial and strategic backers. They include Standard Investments, NGP, Radius Capital and KKR co-founder and co-executive chairman, Henry Kravis. The funding will be used for business development, and to continue developing the company’s platform. This is PhysicsX’s first outside funding.

PhysicX is tackling a problem that has been very consistent yet overlooked in the worlds of manufacturing and physical production.

In any physical system, be it in an experimental lab or a live industrial environment, whenever a new idea is introduced — say, a theory about improving the operating efficiency of a piece of machinery, not to mention work on completely new products — the engineers need to simulate how the new idea will work before committing to developing it, and to further improve how it works. Typically, that simulation and testing work is carried by scientists, engineers who might use some AI in the process but are ultimately working out the process manually.

“Something like airflow across an object may take you an hour or two hours, but if you want to simulate something more complex, it may take you a day or longer. So, there’s a computational cost and therefore also a time cost to this. And that limits the depth at which you can optimize,” said Robin Tuluie, who co-founded PhysicsX with Jacomo Corbo, in an interview.

The pair very much know the pain points firsthand.

Tuluie has already had two different lives as a theoretical physicist. As an academic, he worked alongside Nobel Prize winners with a focus on astrophysics. He then moved into the world of racing, first at Renault and then Mercedes, respectively as head of R&D and chief scientist, where he devised designs that helped his teams win four Formula One world championships (gaining some renown himself in the process). He’s also spent years at Bentley and Volkswagen working on automotive design.

Corbo, who got his PhD from Harvard, has also worked in racing but more recently he founded and headed up QuantumBlack, the AI labs at McKinsey, working with a number of Formula One as well as other automotive and industrial clients on thorny product engineering problems.

The pair have put together a team of no less than 50 scientists — other mechanical engineering specialists, physicists and more — to build out the PhysicsX platform, which is tackling automotive but also a much wider range of applications, said Corbo.

“We are building an enterprise platform to support a pretty broad range of domain applications that are tied to building and optimization problems, physics simulation bottlenecks,” he said. “What PhysicsX buys you is the ability to be able to predict the physics [of a system] with very, very high accuracy and fidelity, doing it, anywhere from 10,000 to a million times faster. Now we can be a whole lot more sophisticated about, for example, mining, across a very high dimensional space.”

PhysicsX’s emergence is coming at a very timely moment in the world of deep learning and AI, specifically in how it is getting applied to the physical world.

It was only earlier this month that DeepMind released new research on how it was applying very advanced machine learning to the world of short- and long-term weather prediction, and Corbo believes that physical turn will underscore the next frontier of AI research and development.

“This is the first time that AI models, these deep learning models, these geometric deep learning models, are overtaking numerical simulation for weather,” Corbo pointed out. “We’re starting to see that happen across physics more broadly. And, that enables a lot of different applications in the space of engineering, which is why we’re building a platform to be able to do that across sectors and across a broad range of domain problems.”

Enterprises have, more generally, hit a lot of snags when it comes to digital transformation — ripping out existing infrastructure to adopt more modern IT and approaches. Although you can classify what PhysicsX is doing as a kind of “digital transformation” too, the startup is able to sidestep those challenges, since the kind of applications it is tackling, in engineering and R&D, are not typically IT issues that require scaling across organizations more widely.

All the same, it’s a new approach, and one that will disrupt how industrial companies approach development today. General Catalyst is therefore both taking a bet on a very hot area — AI — but also breaking some new ground by backing a startup believes how that hot area will evolve.

“PhysicsX expands engineering boundaries in crucial sectors, led by a team deeply skilled in simulation engineering and machine learning,” Larry Bohn, managing director of General Catalyst, said in a statement. “With credibility, customer relationships, and technical expertise, we believe PhysicsX is poised to transform engineering in complex industries. This aligns with our vision for industrial transformation and positions PhysicsX with the opportunity to create a category-defining company in advanced industries.”

PhysicsX emerges from stealth with $32M for AI to power engineering simulations

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EV Realty and Ava Community Energy announce agreement to build the largest public EV charging hub in Oakland

33 fast charging EV stalls will alleviate emissions in area with historically poor air quality and provide public charging investment in downtown Oakland

SAN FRANCISCO–(BUSINESS WIRE)–Ava Community Energy (“Ava”), the local energy provider for Alameda County and the City of Tracy, and EV Realty, Inc. (“EV Realty”), an EV infrastructure development platform purpose-built to maximize electric power availability for critical commercial fleets, today jointly announced the execution of a long-term services contract that will enable the construction of Oakland’s largest public EV fast-charging hub. The project will bring publicly accessible EV fast-charging to the city of Oakland, helping to reduce emissions in an area with poor air quality.

Supported by a ten-year services contract with Ava, EV Realty will develop, build, own, and operate a 33-stall EV charging project at the Oakland City Center Garage, centrally located to serve the adjacent disadvantaged community. This will be the largest public fast charging site in Oakland, increasing the overall amount of public fast charging infrastructure in the city by nearly 45 percent. EV Realty selected EV Connect, a leading EV charging management solutions provider owned by Schneider Electric, to construct and service the project under a multi-year agreement.

California state policy aims to promote equity in electrification by directing investments to support disadvantaged communities. However, challenges exist in the upfront cost of electric vehicles and access to at-home charging infrastructure, which are not always present in disadvantaged communities and areas with high density of multi-dwelling units (MDUs). This perpetuates the ‘chicken and egg’ issue of needing charging infrastructure where it’s used most, but also requiring more vehicles to justify more charging availability.

Ava is a not-for-profit public power agency that operates a Community Choice Energy program in Alameda County and the city of Tracy, with additional service extending to Stockton and Lathrop beginning in 2025. Ava currently serves 14 cities with 1.7 million residential and commercial customers. Ava provides clean power at competitive rates while reinvesting in its member communities and offering innovative energy programs.

“We’re looking forward to collaborating with EV Realty and EV Connect to bring meaningful environmental change to the residents of Oakland,” said Nick Chaset, CEO of Ava. “We believe this project creates a winning solution for local residents by bringing access to charging infrastructure to a part of our community that is often overlooked.”

EV Realty was selected through a competitive process to partner with Ava to bring the Oakland charging hub to life. The novel contract structure enables Ava to set prices ensuring utilization and benefits to the community, while EV Realty provides high-quality infrastructure that enables drivers to quickly and reliably charge their vehicles. The long-term contract structure provides project revenue certainty that supports private investment in much-needed public EV charging solutions.

“We’re proud to partner with Ava and EV Connect to bring accessible and cost-effective EV charging solutions to Ava’s customers in Oakland,” said Patrick Sullivan, CEO of EV Realty. “This project represents an innovative blueprint to scale EV charging infrastructure deployment and is another example of Ava’s long-term leadership in supporting California’s energy transition, first with solar and wind power purchases, and more recently with their focus on EV charging and distributed energy resources. Our collective hope is that this unique project structure provides a blueprint for how utilities and public power agencies can pull forward EV charging infrastructure deployment at scale, both here in California and across the U.S.”

Construction on the Oakland charging hub is expected to begin early next year; the project is expected to be completed by the fourth quarter of 2024.

About Ava Community Energy

Ava Community Energy (Ava), formerly East Bay Community Energy (EBCE), is the not-for-profit public power provider for more than 1.7 million residents and commercial customers in Alameda County and the City of Tracy, with service extending to the San Joaquin County cities of Stockton and Lathrop in 2025. As one of 25 community choice aggregation (CCA) programs operating in California, Ava is part of the movement to provide energy choice while expediting local and state-wide climate action goals. Ava is committed to creating a brighter future in our communities and beyond by providing clean power at competitive rates, reinvesting in our member communities, and developing programs that make it easy for customers to discover, try and adopt clean energy solutions. For more information about Ava Community Energy, visit avaenergy.org.

About EV Realty

EV Realty develops, deploys, and owns charging infrastructure critical to electrifying commercial fleets in the U.S at scale. The company accelerates the adoption of large EV fleets by focusing on the fundamental constraint all electric fleets face: low-cost, reliable, and expandable access to grid-scale power. EV Realty is developing a network of grid-optimized, large-scale EV charging hubs for delivery, logistics, and services fleet customers. Our Powered Properties™ serve multiple commercial fleets in secure, high-power locations with guaranteed charging access and availability, and are located proximate to major logistics corridors within last-mile delivery/duty range of urban population centers. By aggregating multiple fleets with shared private infrastructure in grid-ready locations, EV Realty charging hubs reduce upfront and recurring costs for fleets, optimize charging times and provide high utilization rates. Learn more about EV Realty and how it is transforming fleet charging at www.evrealtyus.com.

Contacts

Keith Chapman
keith@chappublicrelations.com

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Wellspring Energy Resources announces equity commitment from NGP

DALLAS–(BUSINESS WIRE)–Wellspring Energy Resources, LLC (“Wellspring”) is pleased to announce it has received an equity commitment from certain funds managed by NGP Energy Capital Management, LLC (“NGP”) to pursue non-operated oil & gas working interests, oil & gas development financings, structured transactions, and other special situations in North America.

“We believe Kenny and his team possess the right mix of operational experience, business development capabilities and investment acumen to execute on this strategy.”

Post this

Wellspring is led by CEO Kenny Worrell, Executive Vice President of Land & Business Development Dale Smith, and Executive Vice President of Engineering Ryan Rickett.

Wellspring’s executive team brings extensive experience, having previously founded multiple private companies investing in both operated and non-operated properties, with land and business development experience and technical expertise across major basins in North America.

“We are excited to partner with NGP to build a portfolio of assets and investments that generate attractive risk-adjusted returns in the oil and gas sector. The Wellspring team believes our collective experience will position us for success in targeting a traditionally under-served segment of the broader oil and gas ecosystem. Having worked with the NGP principals previously, we know them to be thoughtful partners who will add greatly to Wellspring’s success,” said Worrell.

“NGP is excited to partner with the Wellspring team,” said Brian Seline, Partner at NGP. “We believe Kenny and his team possess the right mix of operational experience, business development capabilities and investment acumen to execute on this strategy.”

About Wellspring

Wellspring focuses on partnering with energy companies and owners to provide flexible capital solutions through the acquisition of non-operated interests, development financing, and structured transactions. for more information, visit www.wellspring-energy.com

About NGP

NGP is a premier private equity firm that believes energy is essential to progress. Founded in 1988, NGP is moving energy forward by investing in innovation and empowering energy entrepreneurs in natural resources and energy transition. With over $20 billion of cumulative equity commitments, we back portfolio companies focused on responsibly solving and securing the energy needs of today and leading the way to a cleaner, more reliable, more affordable energy future. For more information, visit www.ngpenergy.com

Contacts

Kenny Worrell
CEO – Wellspring Energy Resources, LLC
Telephone: (214) 326-0222
info@wellspring-energy.com

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Form Factory 1 Construction Progress

🍁 Weirton and the entire surrounding area is a WOW in the fall! Our construction crew continues to push forward on Form Factory 1 as the leaves in the valley turn bright orange and red all around.

You wouldn’t be-leaf the progress on the construction site either. 60% of the building’s steel is now up. The building’s structure now has two floors, and pretty soon, we’ll start installing glass in the front of the building.

Grateful to be building in beautiful Weirton! 🍂

https://www.linkedin.com/posts/form-energy_almostheaven-westvirginia-activity-7123793011330740224-dn8l?utm_source=share&utm_medium=member_desktop

 

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Rubicon Carbon and CHOOOSE Join Forces to Drive Climate Action

MARINA DEL REY, Calif.–(BUSINESS WIRE)–Rubicon Carbon, a next generation carbon solutions provider, today announced a strategic partnership with CHOOOSE, a leading SaaS platform enabling businesses to integrate climate action into customer experiences through automation and reporting.

Together, CHOOOSE and Rubicon Carbon will offer an integrated suite of products and services – from precise emissions calculations and automated reporting to seamless transaction management – powered by CHOOOSE software and connected to Rubicon Carbon’s dynamic portfolio of carbon solutions.

The partnership will enable enterprises to leverage Rubicon Carbon’s risk adjusted framework and high integrity carbon credits when executing on their net zero ambitions. CHOOOSE APIs and white-labeled solutions will ensure seamless access to Rubicon Carbon’s diversified portfolio of carbon projects, further reducing risk for buyers and supporting a full suite of adjacent emissions calculation, reporting and transaction management services.

Among other initiatives, CHOOOSE and Rubicon Carbon will collaborate to provide curated portfolios of carbon removals that support the travel industry and others in accessing and utilizing a range of durable solutions. Through CHOOOSE’s aviation sector expertise and purpose-built software platform and Rubicon Carbon’s ability to offer curated portfolios of carbon removals, the partnership will provide clients with a wide range of options for taking action on their carbon footprints.

CHOOOSE has joined forces with leading airlines to run multi-faceted, integrated, automated carbon programs that empower aviation customers to understand and act on the carbon impact of flying and that support these airlines in pursuing their own climate ambitions. Meanwhile, Rubicon Carbon has developed a broad set of carbon solutions and become a trusted partner to businesses making meaningful progress towards achieving net-zero emissions. By combining our expertise, we can reduce complexity, making cutting edge climate solutions more accessible, and develop strategic solutions that drive real change,” said Nina Birger, VP of Climate Solutions, CHOOOSE.

“We’re thrilled to partner with CHOOOSE, a true innovator and enabler of climate action. Our combined expertise will offer our customers an unparalleled ability to meet their voluntary net zero ambitions and compliance requirements with confidence and ease. While the aviation industry continues to accelerate the development of more sustainable fuels, high integrity carbon offsets will be a critical enabler of emissions reductions for global airlines until those fuels are ready to scale. We look forward to supporting this large and important sector through our partnership with CHOOOSE,” said Amit Kumar, Head of Partnerships, Rubicon Carbon.

About Rubicon Carbon:
With a vision to help the world’s largest enterprises meet their decarbonization goals, Rubicon Carbon works to meet the growing demand for high integrity carbon credits. Backed by TPG Rise Climate and led by top finance and science executives, Rubicon Carbon sources, validates, risk-adjusts and actively manages diversified carbon credit portfolios in both avoided emissions and removals categories. We bring enhanced transparency and quality controls to carbon credits so companies can navigate the process with confidence.

About CHOOOSE:
CHOOOSE™ delivers a software platform that enables individuals and organizations to understand their carbon footprint and support trusted climate solutions. Leading companies in global travel and logistics – including dozens of airlines – run their voluntary and compliance-driven carbon programs on the CHOOOSE platform.

Contacts

Media
Rubicon Carbon:
press@rubiconcarbon.com

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Ojjo’s utility-scale Earth Truss Foundation eliminates predrill, minimizes subsurface risk, and reduces site grading to save millions in solar project budgets

SAN RAFAEL, Calif.Sept. 11, 2023 /PRNewswire/ — Ojjo, Inc., the leading provider of next-generation solar foundations, has surpassed the 4-gigawatt (GW) milestone for projects completed and committed for its proprietary Earth Truss™ foundation systemSpanning over 10 utility-scale projects throughout CaliforniaTexas, and the Southwestern United States, the over one million foundations specified into Ojjo’s constructed and committed projects support enough clean solar generation to power over 700,000 American households.

By bringing together sophisticated product engineering and advanced automation for installation, Ojjo’s system provides an optimized approach for large-scale solar developers and EPCs, mitigating costly and disruptive construction operations such as predrill, pile remediation, and site grading. Ojjo’s foundations have already been selected and are in operation on projects installed or owned by some of the largest names in solar, including: Arevon Energy, Inc., Avantus, Burns & McDonnell, Kiewit, NextEra Energy, Inc., Primergy Solar, LLC , Primoris Renewable Energy, SB Energy Global, LLC, Signal Energy, TotalEnergies, and 174 Power Global.

“We’re proud to have reached this milestone so quickly. It’s a testament to the innovative spirit and hard work of our team, coupled with the industry’s need for advanced, cost-effective, purpose-built solar foundations,” said Mike Miskovsky, Chairman and CEO of Ojjo. “Successive wins on massive projects underscore Ojjo’s growing momentum as we continue to unlock demand and improve the economics for gigawatts of utility-scale solar systems across the U.S.”

About Ojjo

Ojjo is the industry leader in developing and manufacturing next-generation utility-scale solar foundations. Ojjo’s patented approach combines novel hardware, the Earth Truss, with an innovative drilling machine, the Truss Driver. The Earth Truss is one of the fastest-to-install solar foundations in the industry, typically requiring significantly less steel volume and labor than a conventional pile system. Founded in 2018 by solar innovation veterans from Zep Solar and Tesla, Ojjo holds more than 300 domestic and international patents related to its system. With its 11-Gigawatt (GW) active project pipeline, Ojjo is rapidly becoming a preferred solution for leading utility-scale projects. To date, Ojjo has been chosen in over 4 GWs of solar projects, including Gemini, the nation’s largest stand-alone solar plus storage project to reach completion, and has over 45 GWs of opportunities across its overall North American pipeline. For more information, visit: www.ojjo.com.

SOURCE Ojjo