23
Tue, Oct

ORANGE, Conn.--(BUSINESS WIRE)--Today AVANGRID, Inc. (NYSE: AGR) reported consolidated U.S. GAAP net income of $125 million, or $0.40 per share, for the third quarter ended September 30, 2018, compared to $99 million, or $0.32 per share, for the same period in 2017. For the first nine months of 2018, consolidated net income was $476 million, or $1.54 per share, compared to $458 million, or $1.48 per share, for the first nine months of 2017.

Excluding the Gas Storage and Trading businesses and certain losses related to its sale, restructuring charges, Tax Act-related adjustments, mark-to-market adjustments, and other adjustments in Renewables, non-U.S. GAAP consolidated adjusted net income was $139 million, or $0.45 per share, for the quarter ended September 30, 2018, compared to $125 million, or $0.40 per share, for the same period in 2017. For the first nine months of 2018, non-U.S. GAAP consolidated adjusted net income was $511 million, or $1.65 per share, compared to $494 million, or $1.60 per share, in 2017.

“AVANGRID had solid results for the quarter mainly driven by increased gross margin at our Renewables business and the implementation of rate plans at our Networks businesses,” commented James P. Torgerson, chief executive officer of AVANGRID. “We experienced some earnings setbacks earlier this year; however, they have not derailed us from executing on our long-term plan to achieve 8-10% earnings CAGR through 2020 and 2022. In the Renewables business, our pipeline is strong and growing and we have been successful in contracting new PPAs. To date, we have secured over 1.8 GW of wind and solar projects, nearly two-thirds of our 2022 target, of which 970 MWs are currently under construction and expect to be operational in 2019. In our Networks business, we continue to invest in our electric and gas distribution infrastructure, modernizing and hardening the grid for the future.”

“The major projects outside of the long-term plan are advancing as well,” noted Torgerson. “Vineyard Wind, our 800 MW offshore wind farm, in joint-venture with Copenhagen Infrastructure Partners, executed 20-year contracts with the MA DPU in August and the FERC accepted NECEC’s transmission service agreements ahead of schedule and we are another step closer to achieving the project’s Certificate of Public Convenience and Necessity in Maine. Both Vineyard Wind and NECEC are on track, and we expect all permits and final approvals in 2019.”

Net income and earnings per share for the third quarter and first nine months of 2018 and 2017 on a U.S. GAAP basis and a non-U.S. GAAP adjusted basis are set forth below:

GAAP Net Income (Loss) - $M
Three months ended September 30,   Nine months ended September 30,
  2018       2017     '18 vs '17   2018       2017     '18 vs '17
 
Networks $ 96 $ 104 $ (8 ) $ 375 $ 372 $ 3
Renewables 20 15 5 141 115 25
Corporate 10 1 9 (20 ) 6 (26 )
Gas Storage   (1 )   (21 )   21     (20 )   (35 )   16  
Net Income $ 125   $ 99   $ 26   $ 476   $ 458   $ 18  
 
Amounts may not add due to rounding
 
GAAP Earnings (Loss) Per Share
 
Three months ended September 30, Nine months ended September 30,
  2018     2017   '18 vs '17   2018     2017   '18 vs '17
 
Networks $ 0.31 $ 0.34 $ (0.03 ) $ 1.21 $ 1.20 $ 0.01
Renewables 0.06 0.05 0.01 0.45 0.37 0.08
Corporate 0.03 0.00 0.03 (0.06 ) 0.02 (0.08 )
Gas Storage   (0.00 )   (0.07 )   0.07     (0.06 )   (0.11 )   0.05  
Earnings Per Share $ 0.40   $ 0.32   $ 0.08   $ 1.54   $ 1.48   $ 0.06  
 
Weighted-avg # of Shares (M): 309.5 309.5 309.5 309.5
 
Amounts may not add due to rounding
 
Non-GAAP Adjusted Net Income (Loss) - $M
         
Three months ended September 30, Nine months ended September 30,
Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Networks $ 96 $ 106 $ (9 ) $ 376 $ 374 $ 2
Renewables 33 17 15 147 114 33
Corporate   10   1   9     (13 )   6   (19 )
Adjusted Net Income $ 139 $ 125 $ 14   $ 511   $ 494 $ 16  
 
Amounts may not add due to rounding
 
Non-GAAP Adjusted Earnings (Loss) Per Share
 
Three months ended September 30, Nine months ended September 30,
Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Networks $ 0.31 $ 0.34 $ (0.03 ) $ 1.22 $ 1.21 $ 0.01
Renewables 0.11 0.06 0.05 0.48 0.37 0.11
Corporate   0.03   0.00   0.03     (0.04 )   0.02   (0.06 )
Adjusted Earnings Per Share $ 0.45 $ 0.40 $ 0.05   $ 1.65   $ 1.60 $ 0.05  
 
Weighted-avg # of Shares (M): 309.5 309.5 309.5 309.5
 
Amounts may not add due to rounding
 

For additional information, see “Use of Non-U.S. GAAP Financial Measures” and “Reconciliation of Non-U.S. GAAP Financial Measures” at the end of the release.

The following results for AVANGRID’s business segments are reported in U.S. GAAP.

Avangrid Networks

For the third quarter 2018, Avangrid Networks earned $96 million, or $0.31 per share, compared to $104 million, or $0.34 per share, for the same period in 2017. Earnings in the third quarter 2018 compared to 2017 benefited from the implementation of multi-year rate plans in New York and Connecticut which were more than offset by lower capitalized labor, increased depreciation expense and higher tax adjustments (partially offset in Corporate).

Earnings for the first nine months of 2018 were $375 million, or $1.21 per share, compared to $372 million, or $1.20 per share, for the same period in 2017. Earnings in the first nine months of 2018 compared to 2017 benefited primarily from the implementation of the multi-year rate plans, partially offset by non-deferrable storm-related costs (minor storms and related impacts).

Avangrid Renewables

For the third quarter 2018, Avangrid Renewables earned $20 million, or $0.06 per share, compared to $15 million, or $0.05 per share, for the same period in 2017. Earnings for the first nine months of 2018 were $141 million, or $0.45 per share, compared to $115 million, or $0.37 per share, for the same period in 2017. Earnings for the quarter and year-to-date 2018 compared to 2017 benefited from increased wind generation from existing and new capacity, income from the settlement of a counterparty bankruptcy proceeding, recovery of bad debt and revenues from a disputed contract and the sale of transmission rights. These benefits were partially offset by the impact of transmission-related issues at two new wind farms during the second quarter 2018 and expiring production tax credits and increased intercompany interest expense following project completions (offset in Corporate).

Corporate

For the third quarter 2018, Corporate earned net income of $10 million, or $0.03 per share, compared to $1 million, or $0.00 per share, for the same period in 2017. The improved results for the quarter compared to 2017 were primarily due to increased intercompany interest income and favorable discrete and consolidating tax adjustments partially offset by additional finance expenses associated with new long-term debt issued in November 2017 and the elimination of intercompany interest income from the Gas Storage Businesses in 2018.

For the first nine months of 2018, Corporate incurred a net loss of $20 million, or $0.06 per share, compared to net income of $6 million, or $0.02 per share, in 2017. Earnings for the first nine months of 2018 compared to 2017 reflect additional finance expenses associated with new long-term debt, the elimination of intercompany interest income from the Gas Storage Businesses in 2018 and the consolidating rate adjustment true-up to AVANGRID’s effective tax rate, which was partially offset by intercompany interest income.

Gas Storage

The sales of the Gas Trading and Gas Storage businesses were completed on March 1 and May 1, 2018, respectively. For the third quarter 2018, Gas Storage incurred a net loss of $1 million, or $0.00 per share, compared to a net loss of $21 million, or $0.07 per share, for the same period in 2017. For the first nine months of 2018, Gas Storage incurred a net loss of $20 million, or $0.06 per share, compared to net loss of $35 million, or $0.11 per share, compared to the first nine months of 2017.

Outlook

AVANGRID reaffirms its U.S. GAAP consolidated earnings outlook for 2018 of $2.16-$2.46 per share and its adjusted non-U.S. GAAP consolidated earnings outlook of $2.22-$2.50 per share, though AVANGRID is guiding to the lower part of the range for 2018. While the consolidated U.S. GAAP and non-U.S. GAAP earnings outlooks are unchanged, AVANGRID has revised its earnings outlook for the following business segments:

            Outlook - Estimated EPS
         
U.S. GAAP U.S. GAAP Non-U.S. GAAP Adjusted(1) Non-U.S. GAAP Adjusted(1)

   As of July 24, 2018   

As of October 23, 2018 As of July 24, 2018 As of October 23, 2018
Networks $1.78 - $1.86 $1.68 - $1.76 $1.78 - $1.86 $1.68 - $1.76
Renewables $0.55 - $0.70 $0.55 - $0.70 $0.55 - $0.70 $0.55 - $0.70
Corporate ($0.15) - ($0.05) ($0.06) - $0.04 ($0.15) - ($0.05) ($0.06) - $0.04
Gas Storage ($0.06) - ($0.03) ($0.06) - ($0.03) N/A N/A
EPS $2.16 - $2.46 $2.16 - $2.46 $2.22 - $2.50 $2.22 - $2.50
 
Amounts may not add due to rounding; Estimates are not expected to be additive.
Assumes approx. 309.5 million shares outstanding
(1) Adjusted EPS excludes the Gas Storage business.
 

Webcast

AVANGRID will webcast an audio-only financial presentation in conjunction with releasing third quarter 2018 earnings tomorrow, Wednesday, October 24th beginning at 10:00 A.M. Eastern time. The webcast will feature a presentation from Avangrid’s CEO, James P. Torgerson and other members of the executive team, and can be accessed through the Investor Relations’ section of Avangrid’s website at www.avangrid.com.

About AVANGRID: AVANGRID, Inc. (NYSE: AGR) is a leading, sustainable energy company with approximately $32 billion in assets and operations in 24 U.S. states. AVANGRID has two primary lines of business: Avangrid Networks and Avangrid Renewables. Avangrid Networks owns eight electric and natural gas utilities, serving 3.2 million customers in New York and New England. Avangrid Renewables owns and operates 7.1 gigawatts of electricity capacity, primarily through wind power, with a presence in 22 states across the United States. AVANGRID employs approximately 6,500 people. AVANGRID supports the U.N.’s Sustainable Development Goals, received a Climate Development Project climate score of “A-,” the top score received in the utilities sector, and has been recognized for two consecutive years by Ethical Boardroom as the North American utility with the “best corporate governance practices.” For more information, visit www.avangrid.com.

Forward Looking Statements

Forward Looking Statements: This news release contains a number of forward-looking statements. Forward-looking statements may be identified by the use of forward-looking terms such as “may,” “will,” “should,” “can,” “expects,” “future,” “would,” “could,” “can,” “expect(s,)” “believe(s),” “anticipate(s),” “intend(s),” “plan(s),” “estimate(s),” “project(s),”“assume(s),” “guide(s),” “target(s),” “forecast(s),” “are (is) confident that” and “seek(s)”“can,” “expects,” “believes,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “assumes,” “guides,” “targets,” “forecasts,” “is confident that” and “seeks” or the negative of such terms or other variations on such terms or comparable terminology. Such forward-looking statements include, but are not limited to, statements about our plans, objectives and intentions, outlooks or expectations for earnings, revenues, expenses or other future financial or business performance, strategies or expectations, or the impact of legal or regulatory matters on business, results of operations or financial condition of the business and other statements that are not historical facts. Such statements are based upon the reasonable current beliefs, expectations, and assumptions of our management and are subject to significant risks and uncertainties that could cause actual outcomes and results to differ materially. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: our future financial performance, anticipated liquidity and capital expenditures; actions or inactions of local, state or federal regulatory agencies; success in retaining or recruiting our officers, key employees or directors; changes in levels or timing of capital expenditures; adverse developments in general market, business, economic, labor, regulatory and political conditions; fluctuations in weather patterns; technological developments; the impact of any cyber-breaches, grid disturbances, acts of war or terrorism or natural disasters; the impact of any change to applicable laws and regulations affecting operations, including those relating to environmental and climate change, taxes, price controls, regulatory approvals and permitting; and other presently unknown or unforeseen factors. Additional risks and uncertainties are set forth under the “Risk Factors” in the AVANGRID, Inc. Annual Report on Form 10-K for the year ended December 31, 2017, and the AVANGRID, Inc. Quarterly Report on Form 10-Q for the six months ended June 30, 2018, which are on file with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may vary in material respects from those expressed or implied by these forward-looking statements. You should not place undue reliance on these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this press release, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Use of Non-U.S. GAAP Financial Measures

To supplement our consolidated financial statements presented in accordance with U.S. GAAP, AVANGRID considers certain non-GAAP financial measures that are not prepared in accordance with U.S. GAAP, including adjusted net income and EPS. The non-GAAP financial measures we use are specific to AVANGRID and the non-GAAP financial measures of other companies may not be calculated in the same manner. We use these non-GAAP financial measures, in addition to U.S. GAAP measures, to establish operating budgets and operational goals to manage and monitor our business, evaluate our operating and financial performance and to compare such performance to prior periods and to the performance of our competitors. We believe that presenting such non-GAAP financial measures is useful because such measures can be used to analyze and compare profitability between companies and industries because it eliminates the impact of financing and certain non-cash charges as well as allow for an evaluation of AVANGRID with a focus on the performance of its core operations. In addition, we present non-GAAP financial measures because we believe that they and other similar measures are widely used by certain investors, securities analysts and other interested parties as supplemental measures of performance.

We provide adjusted net income and adjusted earnings per share, which are adjusted to reflect the effect of mark-to-market changes in the fair value of derivative instruments used by AVANGRID to economically hedge market price fluctuations in related underlying physical transactions for the purchase and sale of electricity, adjustments for the non-core Gas Storage business including certain losses related to its sale, restructuring charges primarily associated with reorganizing to better align our people resources with business demands and priorities as part of the Forward 2020+ program, income from cash collateral released in excess of outstanding receivables from a bankruptcy proceeding authorization with a Renewables customer regarding two power purchase agreements and impact from measurement of deferred income tax balances as a result of the Tax Act enacted by the U.S. federal government on December 22, 2017. We believe that presenting these non-GAAP financial measures is useful in understanding and evaluating actual and projected financial performance and contribution of AVANGRID core lines of business and to more fully compare and explain our results. The most directly comparable U.S. GAAP measure to adjusted net income is net income. We also provide adjusted EPS, which is adjusted net income converted to an earnings per share amount.

The use of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, AVANGRID’s U.S. GAAP financial information, and investors are cautioned that the non-GAAP financial measures are limited in their usefulness, may be unique to AVANGRID, and should be considered only as a supplement to AVANGRID’s U.S. GAAP financial measures. The non-GAAP financial measures may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools. Non-GAAP financial measures are not primary measurements of our performance under U.S. GAAP and should not be considered as alternatives to operating income, net income or any other performance measures determined in accordance with U.S. GAAP.

 
Avangrid, Inc.
Condensed Consolidated Statements of Income
(In Millions except per share amounts)
(Unaudited)
     
Three months ended Nine months ended
September 30, September 30,
($M)   2018       2017     2018       2017  
Operating Revenues $ 1,546     $ 1,341   $ 4,813     $ 4,430  
Operating Expenses
Purchased power, natural gas and fuel used 342 250 1,197 957
Loss from assets held for sale 1 - 16 -
Operations and maintenance 574 531 1,634 1,546
Depreciation and amortization 226 205 644 608
Taxes other than income taxes   150       137     444       422  
Total Operating Expenses   1,293       1,123     3,935       3,533  
Operating Income   253       218     878       897  
Other Income and (Expense)
Other expense (16 ) (15 ) (57 ) (52 )
Earnings from equity method investments 1 - 8 3
Interest expense, net of capitalization   (75 )     (71 )   (219 )     (210 )
Income Before Income Tax   163       132     610       638  
Income tax expense   29       32     128       179  
Net Income   134       100     482       459  
Less: Net income attributable to noncontrolling interests   9       1     6       1  
Net Income Attributable to Avangrid, Inc. $ 125     $ 99   $ 476     $ 458  
           
Earnings per Common Share, Basic: $ 0.40     $ 0.32   $ 1.54     $ 1.48  
Earnings per Common Share, Diluted: $ 0.40     $ 0.32   $ 1.54     $ 1.48  
Weighted-average Number of Common Shares Outstanding (M):
Basic 309.5 309.5 309.5 309.5
Diluted 309.7 309.8 309.7 309.8
 
Amounts may not add due to rounding
 
 
Avangrid, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
     
September 30, December 31,
($M)   2018     2017  
ASSETS
Current assets $ 1,963 $ 2,260
Net property, plant & equipment in service 21,627 21,244
Total property, plant & equipment 23,125 22,669
Regulatory assets 2,635 2,738
Goodwill 3,127 3,127
Other assets   905     877  
Total Assets $ 31,755   $ 31,671  
LIABILITIES AND EQUITY
Current liabilities 2,911 3,114
Regulatory liabilities 3,285 3,252
Other non-current liabilities 5,008 5,013
Non-current debt   5,096     5,196  
Total Liabilities   16,300     16,575  
EQUITY
Common stock 3 3
Additional paid-in-capital 13,656 13,653
Treasury stock (12 ) (8 )
Retained earnings 1,536 1,475
Accumulated other comprehensive loss   (55 )   (46 )
Total Stockholders' Equity   15,128     15,077  
Noncontrolling interests 327 19
Total Equity   15,455     15,096  
Total Liabilities & Equity $ 31,755   $ 31,671  
 
Amounts may not add due to rounding
 
 
Avangrid, Inc.
Condensed Consolidated Statement of Cash Flows
(Unaudited)
     
Nine months ended
September 30,
$M   2018     2017  
Cash Flow from Operating Activities:
Net income $ 482   $ 459  
Net Cash Provided by Operating Activities   1,317     1,322  
Cash Flow from Investing Activities:
Capital expenditures (1,173 ) (1,704 )
Contributions in aid of construction 36 31
Proceeds from sale of assets 132 9
Cash distribution from equity method investments 4 4
Other investments and equity method investments, net   (32 )   (7 )
Net Cash Used in Investing Activities   (1,033 )   (1,667 )
Cash Flow from Financing Activities:
Non-current note issuance 324 294
Repayments of non-current debt (65 ) (65 )
(Repayments) receipts of other short-term debt, net (288 ) 570
Payments on tax equity financing arrangements (84 )
Repayments of capital leases (13 ) (32 )
Repurchase of common stock (4 ) (3 )
Issuance of common stock (2 ) (1 )
Distributions to noncontrolling interests (60 )
Contributions from noncontrolling interests 219 5
Dividends paid   (401 )   (401 )
Net Cash (Used in) Provided by Financing Activities   (290 )   283  
Net Decrease in Cash, Cash Equivalents and Restricted Cash   (6 )   (62 )
Cash, Cash Equivalents and Restricted Cash, beginning of period   46     96  
Cash, Cash Equivalents and Restricted Cash, end of period $ 40   $ 34  
 
Amounts may not add due to rounding
 
 

Reconciliation of Non-U.S. GAAP Financial Measures

 
Avangrid, Inc.

Reconciliation of Non-GAAP Adjusted Net Income (Loss) - $M

(Unaudited)
         
Three months ended September 30, Nine months ended September 30,
  2018     2017   '18 vs '17   2018     2017   '18 vs '17
 
Networks $ 96 $ 104 $ (8 ) $ 375 $ 372 $ 3
Renewables 20 15 5 141 115 25
Corporate 10 1 9 (20 ) 6 (26 )
Gas Storage   (1 )   (21 )   21     (20 )   (35 )   16  
Net Income $ 125 $ 99 $ 26 $ 476 $ 458 $ 18
Adjustments:
Restructuring charges 1 3 (2 ) 2 3 (1 )
Mark-to-market adjustments - Renewables 10 4 6 9 (2 ) 11
Loss from held for sale measurement 1 - 1 16 - 16
Income from release of collateral - Renewables 7 - 7 - - -
Impact of the Tax Act (0 ) - (0 ) 7 - 7
Income tax impact of adjustments* (5 ) (3 ) (3 ) 11 (0 ) 12
Gas Storage, net of tax   0     21     (21 )   (10 )   35     (46 )
Adjusted Net Income $ 139   $ 125   $ 14   $ 511   $ 494   $ 16  
 
Amounts may not add due to rounding

 

* 2018: Income tax impact of adjustments: $(2.3)M from mark-to-market (MtM) adjustment - Renewables, $(0.6)M from restructuring charges - Networks,
$14.4M from loss from held for sale measurement - Gas.

* 2017: Income tax impact of adjustments: $0.6M from MtM adjustment-Renewables and $(1)M from restructuring charges - Networks
 
Non-GAAP Adjusted Net Income (Loss) - $M
 
Three months ended September 30, Nine months ended September 30,
Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Networks $ 96 $ 106 $ (9 ) $ 376 $ 374 $ 2
Renewables 33 17 15 147 114 33
Corporate   10     1     9     (13 )   6     (19 )
Adjusted Net Income $ 139   $ 125   $ 14   $ 511   $ 494   $ 16  
 
Amounts may not add due to rounding
 
Avangrid, Inc.
Reconciliation of Adjusted Non-GAAP Earnings (Loss) Per Share (EPS)
(Unaudited)
 
Three months ended September 30,   Nine months ended September 30,
  2018     2017   '18 vs '17   2018     2017   '18 vs '17
 
Networks $ 0.31 $ 0.34 $ (0.03 ) $ 1.21 $ 1.20 $ 0.01
Renewables 0.06 0.05 0.01 0.45 0.37 0.08
Corporate 0.03 0.00 0.03 (0.06 ) 0.02 (0.08 )
Gas Storage   (0.00 )   (0.07 )   0.07     (0.06 )   (0.11 )   0.05  
Earnings Per Share $ 0.40 $ 0.32 $ 0.08 $ 1.54 $ 1.48 $ 0.06
Adjustments:
Restructuring charges 0.00 0.01 (0.00 ) 0.01 0.01 (0.00 )
Mark-to-market adjustments - Renewables 0.03 0.01 0.02 0.03 (0.01 ) 0.03
Loss from held for sale measurement 0.00 - 0.00 0.05 - 0.05
Income from release of collateral - Renewables 0.02 - 0.02 - - -
Impact of the Tax Act (0.00 ) - (0.00 ) 0.02 - 0.02
Income tax impact of adjustments* (0.02 ) (0.01 ) (0.01 ) 0.04 (0.00 ) 0.04
Gas Storage, net of tax   0.00     0.07     (0.07 )   (0.03 )   0.11     (0.15 )
Adjusted Earnings Per Share $ 0.45   $ 0.40   $ 0.05     1.65   $ 1.60   $ 0.05  
 
Weighted-avg # of Shares (M): 309.5 309.5 309.5 309.5
 
Amounts may not add due to rounding
 

* 2018: EPS Income tax impact of adjustments: $(0.01) from mark-to-market (MtM) adjustment - Renewables, $(0.00) from restructuring charges - Networks,
$0.05 from loss from held for sale measurement.

* 2017: EPS Income tax impact of adjustments: $0.01 from MtM adjustment - Renewables and $(0.01) from restructuring charges - Networks.
 
Non-GAAP Adjusted Earnings (Loss) Per Share
 
Three months ended September 30, Nine months ended September 30,
Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Adjusted 2018 Adjusted 2017

Adjusted
'18 vs '17

Networks $ 0.31 $ 0.34 $ (0.03 ) $ 1.22 $ 1.21 $ 0.01
Renewables 0.11 0.06 0.05 0.48 0.37 0.11
Corporate   0.03     0.00     0.03     (0.04 )   0.02     (0.06 )
Adjusted Earnings Per Share $ 0.45   $ 0.40   $ 0.05   $ 1.65   $ 1.60   $ 0.05  
 
Weighted-avg # of Shares (M): 309.5 309.5 309.5 309.5
 
Amounts may not add due to rounding
Read more: AVANGRID Reports Third Quarter 2018 Earnings...

First Solar Project Will Support PacifiCorp in Meeting Facebook Clean Energy Goals

58MWACCove Mountain Solar Project to Support Prineville, Oregon Data Center

TEMPE, Ariz., Oct. 23, 2018 (GLOBE NEWSWIRE) -- A solar power plant developed and to be built by First Solar (Nasdaq: FSLR) will help support Facebook’s Prineville, Oregon Data Center with 100 percent renewable energy.

Through a power purchase agreement (PPA) with PacifiCorp, the 58 megawatt (MW)ACCove Mountain Solar Project located near Enterprise, Utah, will generate renewable energy that will support Facebook’s Prineville Data Center.  This agreement is part of a larger deal structure that will support the data center with 100 percent renewable energy.

“We have been pleased to work with both Facebook and PacifiCorp on a collaboration that creates value for all parties,” said Eran Mahrer, First Solar’ Vice President of Markets, Origination and Government Affairs. “This is an exciting example of how utilities and corporations are collaborating to achieve economic benefits for their stakeholders and also advance renewable energy objectives. We are proud to offer First Solar’s project development expertise to help enable this strategic relationship between PacifiCorp and Facebook.”

“We are thrilled that our Prineville Data Center will finally be supported by 100 percent renewable energy,” said Peter Freed, Facebook Energy Strategy Manager. “We appreciate First Solar’s efforts to help us provide solar energy on the same grid as our data center.” 

First Solar Senior Director of Corporate Renewables Karl Brutsaert noted that – as clean, renewable solar energy has become one of the cheapest sources of new energy generation available in the United States – companies like Facebook are able to meet their environmental commitments while making smart economic decisions.

“First Solar has been on the leading edge of this trend, and we are well-positioned to work with corporations globally as they develop smart renewable energy strategies that leverage efficient and reliable large-scale offsite generation facilities,” said Brutsaert.

“This project exemplifies an exciting opportunity for solar development to support economic development in both rural Utah and Oregon. As a U.S. manufacturer, we are thrilled to facilitate this type of regional development, which helps create good-paying construction and manufacturing jobs,” said First Solar Vice President of Project Development Kathryn Arbeit.

The Cove Mountain Solar Project will utilize First Solar’s Series 6 thin film modules mounted on single-axis trackers. First Solar expects to begin construction on the project in late 2019, and estimates an average of approximately 200 construction jobs with potential peak construction jobs of nearly 500. Commissioning is expected in late 2020. First Solar Energy Services expects to provide Operations and Maintenance services when the project is commissioned.

About First Solar, Inc.

First Solar is a leading global provider of comprehensive photovoltaic (PV) solar systems which use its advanced module and system technology. The company’s integrated power plant solutions deliver an economically attractive alternative to fossil-fuel electricity generation today. From raw material sourcing through end-of-life module recycling, First Solar’s renewable energy systems protect and enhance the environment. For more information about First Solar, please visit www.firstsolar.com.

For First Solar Investors

This release contains forward-looking statements which are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements concerning: the construction and operation of a 58MWAC solar system. These forward-looking statements are often characterized by the use of words such as “estimate,” “expect,” “anticipate,” “project,” “plan,” “intend,” “seek,” “believe,” “forecast,” “foresee,” “likely,” “may,” “should,” “goal,” “target,” “might,” “will,” “could,” “predict,” “continue” and the negative or plural of these words and other comparable terminology. Forward-looking statements are only predictions based on our current expectations and our projections about future events and therefore speak only as of the date of this release. You should not place undue reliance on these forward-looking statements. We undertake no obligation to update any of these forward-looking statements for any reason, whether as a result of new information, future developments or otherwise. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, the matters discussed under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Conditions and Results of Operations” of our most recent Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q, as supplemented by our other filings with the Securities and Exchange Commission.

Contacts

First Solar Media
Steve Krum
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First Solar Investors
Stephen Haymore
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Source: First Solar, Inc.

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DUBLIN, Oct. 23, 2018 /PRNewswire/ --

The "Global Light Vehicle OE Batteries Market - Forecasts to 2033" report has been added to ResearchAndMarkets.com's offering.

This report provides a comprehensive overview of the global electric vehicles and OE starter battery sectors, major suppliers, top 14 car batteries markets, technology trends and market size forecasts.

Based on exclusive interviews, primary research and proprietary data this global market study includes:

  • Automotive OE battery (advanced batteries and starter batteries) market size estimates for the top 14 markets
  • A review of the latest technological developments and market trends (including advanced car battery costs, alliances, awards, innovations, investments, charging solutions, energy density, range development, solar tech, thermal management, wireless charging, recycling)
  • Regional market share data tables and commentary
  • Country share data tables and commentary for the top 14 markets
  • Exclusive interviews with OE suppliers including XL Hybrids, Ioxus, Maxwell Technologies, Zero Carbon Futures, Cap-XX, Continental, GS Yuasa, Western Lithium, Axeon (news and interviews only available in QUBE)
  • Sector PESTER (Political, Economic, Social, Technological, Environmental and Regulatory) analysis
  • Updated profiles of the major automotive battery suppliers including their strategies and prospects

You can use this report to:

  • Gain a quick overview of the automotive battery sectors globally
  • Understand the size and scope of the world's top 14 markets
  • Hear direct from leading companies on their strategies and plans
  • Review the latest and most significant technological developments
  • Know the key trends within the sector and what's driving them
  • Spot opportunities and threats in this sector
  • Establish key companies' latest activities and prospects
  • Prepare supply and demand forecasts
  • Produce internal sales plans and forecasts
  • Carry out competitive intelligence

Key Topics Covered:

  • Introduction
  • Pester analysis
  • Battery companies
    • A123 Systems, Inc.
    • Advanced Battery Technologies
    • Banner
    • BYD Auto
    • CBAK Energy Technology Inc
    • Continental AG
    • East Penn Manufacturing Co Inc
    • Enerdel
    • EnerSys
    • Exide Technologies
    • Fiamm
    • GS Yuasa Corp
    • Hitachi Vehicle Energy Ltd
    • Johnson Controls Inc.
    • Johnson Matthey Battery Systems
    • LG Chem
    • Li-Tec
    • Lithium Americas
    • Primearth EV Energy Co Ltd
    • Robert Bosch GmbH
    • Samsung SDI
    • SB LiMotive
    • Toshiba
  • Forecasts
    • Advanced automotive batteries
    • Starter batteries
  • Glossary of terms
  • Markets
    • Emerging markets
    • Market shares
      • Asia-Pacific
      • Europe
      • Lithium-ion battery cell market
      • North America
    • Market trends
  • Technologies
    • Advanced automotive battery innovations
      • Alliances
      • Innovations
        • Delphi's inverter
        • Denso's solutions
        • GS Yuasa's advanced batteries for next-generation PHEVs
        • JCI's 48-volt micro hybrid battery
        • JCI's ie:3 demonstrator vehicle
        • Volvo's solution
      • Where are we heading?
        • SAE standard for PHEVs and EVs to help reduce charging time
    • Electric vehicle battery developments
      • Alcoa and Phinergy's solution
      • BMW's High-Voltage Battery Centre
      • Charging solutions
      • EV sound research
        • Delphi's vehicle sounder
        • Kia EV sounds like an ICE
        • NHTSA's proposal
        • Pedestrian alert technology for electric vehicles
        • Volvo's research
      • Massachusetts Institute of Technology developing an alternative battery
      • Range anxieties
      • Sensor for EVs which shuts off the battery in the event of a collision
      • Solid-state batteries for electric vehicles
      • Solutions to convert EV battery power for home use
      • Thermal management for electric vehicles
      • Toshiba supplies batteries for Mitsubishi Motors
      • Valeo's thermal management for lithium-ion batteries
      • VW joint venture with QuantumScape
    • Other innovations
      • Evida Power and HaloIPT explores wireless charging
      • Federal-Mogul's battery shield
      • GS Yuasa's battery analyser
      • Hella's isolation monitor
      • Material for a secondary or rechargeable battery
      • Visteon's battery thermal management solutions
      • Yazaki North America partners with Evatran to develop charging systems
    • Recycling
  • Archive
    • An alternative technology to lithium-ion?
    • BMW
    • Daimler working with Evonik Industries to develop and produce lithium-ion batteries
    • Dana's battery cooling technologies
    • EASYBAT aims to make it easier to build electric cars with switchable batteries
    • Envia achieves record energy density for its Li-ion battery
    • EV battery prices fall
    • EV makers to produce 35GW hours of batteries by 2013
    • Exide Technologies uses public funds to develop lead-acid battery technology
    • GM Europe Ampera electric car
    • GM increases its investment in lithium-ion batteries
    • GM investigates material to make lithium-ion batteries last longer between charges
    • GM Ventures invests in Sakti3
    • Harman's sound synthesis
    • Hyundai offers lifetime battery replacement for the Sonata Hybrid
    • JCI's batteries for commercial vehicles
    • Johnson Controls and Hitachi cooperate
    • Johnson Controls supplying the battery for the Ford Transit Connect Electric
    • Johnson Controls uses public funds to develop advanced battery technologies
    • Li-ion batteries for F1
    • New battery monitoring unit for Lithium-ion batteries from Denso
    • Nissan, NEC and NEC Tokin form joint venture to produce lithium-ion batteries in Japan
    • Renault delays electric vehicle battery production
    • SB LiMotive acquires Cobasys
    • Solar technology for EVs
    • The National Alliance for Advanced Transportation Batteries (NAATBatt) is formed
    • Toyota explores wireless charging
    • Washington State University's research

For more information about this report visit https://www.researchandmarkets.com/research/3wdts2/global_light?w=5

Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.

Media Contact:

Laura Wood, Senior Manager
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WASHINGTON--(BUSINESS WIRE)--In its inaugural year, The Cleanie Awards™ today honors 10 companies and industry leaders paving the way in the clean technology sector. The first comprehensive awards program to recognize advancement in the cleantech industry, the winners are honored for their innovation, leadership and outreach campaigns that promote clean technology, renewable energy and solar, wind and water power.

“The Cleanie Awards program recognizes individuals and companies responsible for creating a successful and ever-expanding global cleantech marketplace,” said Elyssa Rae, program director, The Cleanie Awards. “This inaugural cohort of honorees proudly represents nearly every facet of the renewable industry and has used their influence and expertise to bring us closer to a clean energy future here and abroad.”

The 2018 Cleanie Awards honorees are:

Companies

  • Enterprise Company of the Year: SolarEdge Technologies. SolarEdge’s financial strength and stability, combined with its cutting-edge smart energy technology and global reach set it apart as the market leader.
  • Midsize Company of the Year: Greensmith Energy, a Wärtsilä company. Greensmith Energy continues to stay nimble and make grid-scale energy storage a fundamental part of a cleaner, more intelligent and distributed energy infrastructure.
  • Non-Profit of the Year: Low Impact Hydropower Institute (LIHI). LIHI has built a strong reputation for energy source certifications in the U.S. with more than 125 active in 2017, greatly reducing the impacts of hydropower generation.
  • Startup of the Year: CleanCapital. CleanCapital made substantial investments in clean energy projects across the U.S. in 2017, while closing $3.7 million U.S. in series A funding and launching a successful podcast.
  • Investment Organization of the Year: CohnReznick Capital. CohnReznick Capital has maintained its strong reputation in investment banking services to the sustainability sector, executing 104 project and corporate transactions for renewable energy assets valued at $16.2 billion in aggregate.
  • Best Integrated Media Campaign: NEXTracker: TrueCapture™ Smart Control Software Product Launch. NEXTracker’s TrueCapture campaign leveraged a multifaceted media approach, garnering millions of social media, website and trade publication impressions and views.
  • Best Public Affairs Campaign: Carbon Capture Coalition with RENEWPR: Carbon Capture Technologies Legislation Campaign. The team strategized a savvy three-pronged communications campaign to successfully influence legislation in support of carbon capture technologies.

Individuals

  • Entrepreneur of the Year: Katherine Hamilton, 38 North Solutions. Katherine has parlayed her industry expertise into a powerful public policy consultancy, successful podcast and global board and chair positions with the World Economic Forum and GRID Alternatives Mid-Atlantic.
  • Woman of the Year: Danielle Merfeld, GE Renewable Energy. In addition to being named the first female GE Tier 1 business CTO in the history of the company, Danielle has supported more than 70,000 women internally as co-leader of the GE Women’s Network and across the industry through active engagements while simultaneously launching groundbreaking products moving the industry forward.
  • Rising Star Under 30: James Jamal Thomas III, RES (Renewable Energy Systems). Since completing his PhD at the age of 26, James helped his company successfully complete 500 MW of wind and solar projects more efficiently and effectively.

“The honorees chosen represent the best of the clean technology sector,” said Tom Weirich, director, Rubicon Infrastructure Advisors, a leading global investment banking advisory firm, and one of the judges. “Competition was fierce, which is a real testament to the strength of the industry. I’m proud of who we selected, and they should all be proud to be honored by The Cleanie Awards.”

To learn more about The Cleanie Awards and its winners: www.thecleanieawards.com.

Sign up to be notified when the 2019 Cleanie Awards open for submissions.

About The Cleanie Awards

The Cleanie Awards™ is the first comprehensive awards program exclusive to the cleantech industry. It generates much needed visibility for innovators and disruptors in the industry who are creating life [and planet] changing solutions. The campaigns recognized by the award program aim to influence public opinion about technologies delivering on the promise of a clean energy future. Visit our website at www.thecleanieawards.com. Follow us on Twitter or Facebook at @CleanieAwards and LinkedIn.

Read more: The Cleanie Awards Honors Innovators and...

SANTA CLARA, Calif., Oct. 23, 2018 /PRNewswire/ -- The IDTechEx Show! at the Santa Clara Convention Center in California, USA, on November 14 - 15 is the leading global event for product innovators and technology scouts, bringing together emerging technologies with global brands.

The event features over 265 exhibitors, 3,500 attendees coming from over 50 countries and over 250 speakers across 8 concurrent conference tracks. Opening the event are four select Cornerstone presenters who will cover how technologies are solving key global problems, from healthcare to mobility.

IDTechEx Show
IDTechEx Show

Opening the Cornerstone session is Professor Greg Whyte OBE. Professor Whyte is a former Olympian, world-renowned sports scientist, and Physical Activity Expert. He was appointed Officer of the Order of the British Empire (OBE) for his services to sport, sports science, and charity. Professor Whyte will cover how wearable technologies including sensors, IoT and AI-based data analytics helps people achieve more. Case studies will include work with pre-chemotherapy patients, improving their health and fitness before treatment, to working with global stars including David Walliams.

Following this will be the $10 Billion people movement company, KONE. Speaker Jeffrey Blum, Senior VP, will present on "Improving the flow of Urban Life: Smart Elevators and Escalators are Here." This includes their use of sensors and IoT connectivity to enhance mobility, from intuitive user interfaces to predictive monitoring.

The third Cornerstone speaker is from the $22 Billion electronic manufacturing services company Jabil. Jabil manufactures everything from consumer packaging, mobile devices and intelligent clothing to appliances, automotive, aviation and energy solutions for their customers. Consumers and organizations increasingly desire customization and personalization of products and services in addition to having increasing expectations of the speed of delivery of such products. Speaker Girish Wable, Manager Strategic Capabilities, will cover case studies about how technologies including 3D Printing, printed electronics, sensors, and IOT are addressing this need, from mass customization to the digital supply chain.

Covering the trend and opportunities of the increasing electrification of vehicles will be Micheal Austin of BYD Motors. Headquartered in China, BYD Motors is one of the fastest growing vehicle companies in the world. Micheal Austin, a battery expert of over 25 years, has worked as BYD US operations' VP for 13 years and will discuss BYD's "Zero Emissions Energy Ecosystems," covering the trends and opportunities of the increasing electrification of all classes of terrestrial vehicles globally. This presentation will cover progress with affordable solar power, reliable-environmentally-friendly energy storage, and cutting-edge electrified transportation.

A further 250 speakers will be presenting at the event from global brands to technology suppliers with innovative solutions. Over 3,500 attendees are expected. For full details of the IDTechEx Show! held on November 14 – 15, 2018, in Santa Clara, see www.IDTechEx.com/usa. 

Media Contact:
Charlotte Martin
Marketing & Research Co-ordinator
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www.IDTechEx.com

SOURCE IDTechEx Show

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DENVER--(BUSINESS WIRE)--Guzman Energy Group, a full-service energy company whose services include providing wholesale power, energy trading and hedging services, today announces the appointment of Robin Lunt as general counsel to lead the legal and policy team. Lunt brings a decade of experience as an energy attorney in both government and the private sector.

The announcement comes on the heels of the August announcement that Guzman Energy secured $130 million in additional liquidity with capital provided by Colorado-based energy investors, Vision Ridge Partners and ZOMA Capital. Guzman Energy is a new type of energy model that is helping transition an outdated energy economy in the West. As general counsel, Lunt will help expand this effort to achieve lower rates and price stability from renewable, sustainable energy for its consumers in the West and beyond.

“The addition of Robin to lead our legal and policy team is a significant step forward as we continue to empower communities in the West via more cost effective and greener energy,” said Guzman Energy President Chris Riley. “She brings a wealth of experience in both the private and governmental/policy sectors and is poised to lead us toward navigating a rapidly evolving renewable-energy landscape.”

Lunt has served in senior roles with the Federal Energy Regulatory Commission and the National Association of Regulatory Utility Commissioners. She spent eight years practicing in Washington, D.C., in the energy and utilities sector before relocating to Denver: first to serve on the executive team of an early stage distributed energy resource company; and then as an attorney at Wilkinson Barker Knauer (WBK), an energy and telecommunications law firm. A member of the Colorado, Washington, D.C., and California Bars, she will be based at Guzman headquarters in Denver.

“Guzman Energy is dedicated to transforming the Western wholesale markets and rural communities by reducing prices and paving the way for more renewable and distributed energy resources,” said Lunt. “It’s exciting to be in the game working to create the future of the energy economy where affordability and environmental goals can both be realized.”

Guzman Energy is set to transform the energy status quo. In February 2017, they announced a partnership with Kit Carson Electric Cooperative (KCEC) to enable multiple northern New Mexico counties to achieve summer solar energy independence by 2022. In doing so, Guzman Energy will save 30,000 KCEC co-op members $50 million to $70 million in the next 10 years. Additionally, this month Guzman Energy was named a finalist for the 2018 S&P Global Platts Global Energy Awards, often described as “the Oscars of the energy industry.” The awards, which will be announced in December, highlight corporate innovation, leadership and superior performance in the energy industry.

About Guzman Energy

Guzman Energy is a wholesale energy company that supplies and trades power across North America. Guzman Energy created a new type of energy model, one designed specifically to help transition an outdated energy economy into the renewable age. We enable customers — principally rural electric cooperatives and municipal power companies — to achieve lower rates and price-stability from renewable, sustainable energy. Headquartered in Coral Gables, Fla., and Denver, Colo., Guzman Energy has unique expertise in serving customers in the bilateral power markets of the Western United States and conducts its business through two practice areas: Energy & Environmental Trading and Energy Hedging & Risk Management. To learn more, visit www.GuzmanEnergy.com.

Read more: Guzman Energy Announces Company Growth to...

SHAW AFB, S.C.--(BUSINESS WIRE)--Hunt Southern Group, a Hunt Military Community, in tandem with its military partner, Shaw Air Force Base, is pleased to announce its collaboration with Duke Energy and Hunt affiliate, Hunt Alternative Energy Investments, installing solar photovoltaic (PV) panels on more than 280 homes. In all, 284 homes have received 5,865 solar panels, helping to offset approximately 40 percent of the total annual electrical consumption at Shaw Military Housing.

“We couldn’t be more excited about this innovative project at Shaw Air Force Base,” said John Hoyt, Hunt Military Communities Vice President. “Installing these solar panels will not only reduce our dependence on foreign fuels, but will allow us to save money in utilities, money which will be directly reinvested back into housing. This is definitely a win-win situation.”

In all, solar energy production at Shaw Military Housing will equate to approximately 2.4 Million kilowatt hours (kWh) per year. That amount is equivalent to removing nearly 400 cars a year or 648 tons of waste recycled.

The PV project at Shaw Air Force Base is another success resulting from the collaborative landmark legislation passed by South Carolina’s General Assembly in 2014, commonly known as Act 236. The law provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. As a result, South Carolina is one of the country’s greatest success stories for renewable energy.

“This is part of our ongoing effort to support the US Air Force in meeting its long-term energy goals across the country,” explained Abe Weiner, Hunt Alternative Energy Investments. “Working closely with the Air Force, Hunt Military Communities, Duke Energy and our funding partners, the Shaw Solar project exemplifies how public-private partnerships are able to greatly enhance energy sustainability and resiliency.”

Duke Energy’s Solar Rebate Program helped with the costs of the Shaw project and has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.

“We are proud to be the energy provider for Shaw Air Force Base and Hunt and support growing solar energy in South Carolina through our Solar Rebate Program,” said Kodwo Ghartey-Tagoe, Duke Energy’s South Carolina state president. “The new panels will bring economic and environment benefits to the base, its families, and South Carolina – which is exactly what we envisioned from Act 236 and what we want to continue in the state going forward."

Shaw Air Force Base joins one of more than a dozen military privatized housing developments throughout the nation to add solar paneling to its homes.

"Here at Shaw, it is our priority to take action in improving our environmental impact," said Colonel Derek O'Malley, 20th Fighter Wing commander. “We are committed to doing our part in the movement towards energy conservation and anticipate that the installation of these solar panels in base housing will be beneficial not only to our residents, but also the Sumter community as a whole."

The Department of Defense is the nation’s largest energy user and is focused on reducing energy demand through programs like The Air Force Energy Plan. The plan is focused on developing and utilizing renewable and alternative energy wherever possible as well as changing the user’s culture by increasing energy awareness in day-to-day operations.

About Hunt Military Communities

Hunt’s Military Communities division is a 50-year partnership created between the Department of Defense and Hunt through the Military Housing Privatization Act. As part of the partnership, Hunt owns approximately 52,000 units spread across more than 40 military installations on Navy, Air Force, Marine Corps, and Army installations and is the largest privatized military housing developer in the nation.

Read more: Shaw Air Force Base and Duke Energy Partner for...

Bitexco Group ist einer der zehn größten Entwickler von Einkaufsmalls und Hotels in Vietnam und bietet Ingenieurleistungen für Hydraulikanlagen und Straßenbau. Mit Unterstützung des Teams, das an Ausschreibungen in ausländischen Märkten teilnimmt, und den Abteilungen für Entwicklung, Design, Technik und Beschaffung hat Risen Energy den 50-MW-Vertrag von Bitexco Group an Land gezogen. Zuvor hatte das Unternehmen sein großes Leistungsspektrum bei führenden Technologien und seine Expertise als EPC-Dienstleister unter Beweis gestellt. Mit diesem Geschäftsabschluss und den anderen Anlageverträgen, die das Unternehmen in der jüngeren Zeit in Vietnam zum Erfolg gebracht hat, kann Risen Energy seine Strategie des Umsatz- und Ertragswachstum fortsetzen.

Die 50-MW-Anlage, auf die sich dieser aktuelle Vertrag bezieht, liegt in Ninh Thuan (Vietnam). Risen Energy wird als EPC-Vertragsfirma hocheffiziente Module sowie 1500-V-Hochspannungsmodule mit 5 Stromschienen für die Anlage liefern.

Nach erfolgreichem Ausziehversuch wurde am 1. Oktober mit dem Bau begonnen. Die Anlage soll pro Jahr eine Durchschnittsleistung von 81.429 MWh erzeugen. Der erzeugte Strom wird in das EVN eingespeist (das nationale vietnamesische Stromnetz).

Die Regierung von Vietnam hatte 2017 die Richtlinie über die Einspeisevergütung für den PV-Solarstrommarkt verabschiedet. Seitdem wächst das Interesse unter globalen Investoren, Entwicklern und Modulherstellern an dem Land als Investitionsstandort erster Wahl. Risen Energy setzt seine globale Expansion fort und hat Vietnam zu einem Schlüsselmarkt seiner globalen Expansionsstrategie für 2018 erklärt. Ein Sprecher für Risen Energy sagte: „Wir haben jahrelange Erfahrung als EPC-Dienstleister und haben eine lokale Strategie für den vietnamesischen Markt unter Berücksichtigung der speziellen regionalen Gegebenheiten entwickelt. Wir sind überzeugt, dass der PV-Markt in Südostasien ein enormes Potenzial und riesige Chancen bietet."

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Read more: Risen Energy erhält Zuschlag für...

PALM BEACH, Florida, October 23, 2018 /PRNewswire/ --

FN Media Group Presents Microsmallcap.com Market Commentary 

Vanadium is the latest super metal that could serve as the cornerstone of a disruptive new trend: electrical energy storage. Resource companies such as United Battery Metals (OTC: UBMCF) (CSE:UBM) have begun to target this trend, opting to develop a vanadium project in Wray Mesa, Colorado. The company also has a footprint in uranium mining, a space that includes miners such as Ivanhoe Mines (TSX: IVN) (OTC: IVPAF) and Largo Resources (TSX: LGO) (OTC: LGORF). Other players in the vanadium space include Clean TeQ (TSX: CLQ) (OTC: CTEQF) and mining giant Glencore PLC (OTC: GLNCY).

For miners such as United Battery Metals (OTCPK:UBMCF) (CSE:UBM), the vanadium opportunity could be one to watch out for. Vanadium has several practical applications, including uses in solar, wind, grid power storage, and the production of steel rebar. Vanadium is crucial to the U.S. for its domestic steel production which has been jumpstarted since the Trump administration was elected. With U.S. Steel and other major steel companies opening new projects and canceling previous closures, the nation's producers could require a serious amount of vanadium to strengthen their steel products.

Vanadium is one of the 35 elements the U.S. government has deemed critical to the world's largest economy and national security, which could expedite UBM's Wray Mesa project located in Colorado to go into possible production. As the trade war with China intensifies, it could become crucial for America to secure a domestic supply of vanadium and focus on putting mines into production, a move the U.S. administration is expected to support. Vanadium's many use cases have helped drive the price of V2O5 vanadium pentoxide flake 98%, a common form of vanadium, up 400% over the last three years.

With transportation battery demand expected to jump 40-fold by 2040, vanadium could be poised for significant inroads in the EV market. All those new EVs on the road could require charging stations to "fuel up", and vanadium redox batteries offer a perfect solution as VRB's can simultaneously charge 50 cars at a time.

As battery demand increases the demand for vanadium could follow a similar trend, posing a potential supply crunch as more nations adopt alternative energy policies that move away from fossil fuels. That move could potentially bode well for vanadium miners such as United Battery Metals (OTCPK:UBMCF) (CSE:UBM) who is sitting on a large vanadium-rich land package.

VRBs can be also used in power stations to charge electric vehicles. Just as gas stations have become an integral part of U.S. automotive history, so too could VRB charging stations become an essential component to electric vehicle infrastructure.

Although vanadium is essential to everyday economic and national security functions in the U.S., the country is not a major producer of the mineral. In fact, United Battery Metals (OTCPK:UBMCF) (CSE:UBM) is on track to potentially become North America's lone active vanadium producer.

The Vanadium Revolution Is Here  

Vanadium appears that it could become an important part of the global energy storage revolution, which could compel other miners including Clean TeQ (TSX: CLQ) (OTCQX:CTEQF) and Glencore PLC (OTCPK:GLNCY) to carve out their own vanadium footprints. Market forces are already at work with vanadium, stoking rapid price appreciation of the element on the spot market. Energy storage is a booming industry, with one estimate indicating energy storage in the U.S. alone is poised to surge to 720 megawatts by 2020, up from 120 megawatts in 2014.

California has recently announced that by 2020 all homes and mid-rises will be required to install solar panels. It is here that VRBs can play a part. The ability to store power from low usage periods and spill it back into the grid during peak demand periods makes VRBs a far superior choice for large-scale energy storage than lithium-ion batteries. Experts predict that it is just a matter of time before this law will be adopted nationwide. Regulations such as these could become a big driver for vanadium demand in the United States, a country in desperate need of a domestic resource.

The vanadium redox battery (VRB) is the optimal choice for electrical storage systems, smart grids, and remote power stations. For applications including power quality control, emergency power, backup power, and stabilization of renewable energy, VRBs offer a potentially superior alternative to the lithium-ion batteries that grew to prominence in the first wave of electrical storage and EV adoption.

"Vanadium could become a vital ingredient in large clean-energy batteries, in which case it will shine a lot brighter," according to The Economist. "Its price has already been rising faster than cobalt, copper, and nickel, all of which are used in lithium-ion batteries."

Miners that are focusing on vanadium, including United Battery Metals (OTC: UBMCF) (CSE:UBM), could be ideally positioned to exploit rapid growth in this market. The global vanadium market is expected to notch a compound annual growth rate (CAGR) of 3.2% from 2017 through 2027, according to Mining Weekly.

Stored electrical systems could become a major driver of vanadium demand. These systems offer advantages over traditional power sources, including environmental benefits, lower costs, and superior reliability. According to analysis by Report Buyer, the global advanced energy storage market is predicted "to grow with a CAGR of 5.9% over the forecast period of 2018-2024." The potential growth of the energy storage market could be a massive opportunity for a vanadium miner such as United Battery Metals (OTC: UBMCF) (CSE:UBM) that is capable of meeting demand.

United Battery Metals (OTC: UBMCF) (CSE:UBM) is the first mover in the North American vanadium industry with a head start in the race to meet increasing VRB demand. Over the past six years, over 70 VRB-related projects in 11 countries have popped up.

Drilling Down On The Vanadium Opportunity 

Mining is a global business. For example, major companies such as Ivanhoe Mines (TSX: IVN) (OTCQX:IVPAF) and Largo Resources (TSX: LGO) (OTCQX:LGORF) often depend on countries far from their home domiciles as primary production points. Currently, the bulk of the world's vanadium production is occurring outside of North America. North America represented just 3% of global vanadium output in 2017, meaning there is a massive opportunity for the next American vanadium company capable of graduating to production.

United Battery Metals (OTC: UBMCF) (CSE:UBM) is leading the charge to tap North American vanadium reserves, which is a welcome development considering the U.S. government has declared vanadium to be essential to national security. Today the world's top two vanadium producers are China and Russia (almost two-thirds of global output in 2017), neither of which are going to prioritize U.S. interests.

With the U.S. currently importing 100% of its consumed vanadium, domestic projects targeting this essential mineral are taking on added importance. That includes United Battery Metals' (OTC: UBMCF) (CSE:UBM) Wray Mesa project in Montrose County, Colorado.

Approximately 240 miles southwest of Denver, Wray Mesa is home to 108 contiguous land claims spanning 3000 acres. Wray Mesa's location is enviable as it is accessible from multiple interstate highways via Colorado or Utah and includes municipal water access from only 6 miles away. The property was previously mined for uranium, most recently in the late 1970s and early 1980s, meaning there is still potential for United Battery Metals (OTC: UBMCF) (CSE:UBM) to make further vanadium discoveries on the property.

The Future Of Energy Storage  

Vanadium is rapidly becoming a credible competitor to lithium-ion in the booming stationary storage market. By 2028, a quarter of the world's stationary storage devices could be powered by VRBs. Last year 17% of all power generated in the U.S. was via renewable sources, a number that is expected to grow in the years ahead as states such as California and Hawaii aim to generate 100% of their power from renewables.

With vanadium becoming an essential part of North America's economic and renewable energy futures, companies with quality assets could stand to benefit. In the United States, United Battery Metals' (OTC: UBMCF) (CSE:UBM) Wray Mesa project could be optimally positioned as vanadium buyers look to minimize transportation costs and the risks associated with doing business with Chinese and Russian miners.

The appetite for renewable energy in the U.S., whether for storage systems or vehicles, is robust and getting stronger. With vanadium prices currently at a 13-year high, the market appears to be waking up to the next battery revolution. These market conditions could potentially set the stage for a miner such as United Battery Metals (OTC: UBMCF) (CSE:UBM) to capitalize on the vanadium trend, providing America with the vanadium it needs for years to come.

To learn more about United Battery Metals (OTC: UBMCF) (CSE:UBM), please follow this link to a full report about the company here

DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
 
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Read more: How This Super Metal Could Spark the Largest...

FRAMINGHAM, Mass. & SAN ANTONIO--(BUSINESS WIRE)--Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and energy infrastructure company, today announced it has been awarded a contract by the Defense Logistics Agency Energy to implement a $133.5 million energy resilient infrastructure project at Joint Base San Antonio (“JBSA”) in Texas. Ameresco will provide energy efficiency and reliability upgrades to 900 buildings across five military installations and will build a microgrid integrating 20 megawatts (MW) of new onsite energy photovoltaic assets, 4 MW of gas fired backup generation and 4 MW/8 MWh of battery energy storage to support critical energy loads for mission assurance.

“Ameresco is proud to support the mission of Joint Base San Antonio through energy assurance and new infrastructure,” said Nicole A. Bulgarino, Executive Vice President and General Manager, Federal Solutions, Ameresco. “This project will provide critical infrastructure improvements to JBSA through energy conservation and will enhance the energy security of the installation through redundant, reliable backup generation assets.”

The Defense Logistics Agency Energy awarded the contract to Ameresco under a self-funding Energy Savings Performance Contract (ESPC). The ESPC will provide work to all areas of JBSA including Lackland Air Force Base, Fort Sam Houston, Randolph Air Force Base, Kelly Field Annex, Camp Bullis and Medina Annex.

This $133.5 million task order leverages $2.7 million of Facilities Sustainment Restoration and Modernization (FSRM) funds as a direct investment in the project. More than 14.7 million square feet of buildings will receive energy and water conservation upgrades designed to reduce energy consumption in the buildings by 24 percent annually. The installation of new onsite energy systems will offset electricity purchases from the grid and will provide energy security and resiliency.

The ESPC will provide for HVAC management control systems, over 2 million gallons of thermal energy storage, new LED lighting, and building envelope improvements. More than 140,00 LED lighting systems will be installed across JBSA.

To support energy assurance, Ameresco will install new onsite distributed energy assets capable of islanding from the electric utility, including a combined heat and power (CHP) system comprised of nine microturbines for a total capacity of 585 kW, 4 MW of natural gas-fired standby generation, and an 11.7 MW groundmount solar photovoltaic (PV) array at the Security Hill Landfill at Lackland Air Force Base and over 5 MW of roof-mount PV at Fort Sam Houston. The solar PV array will provide a beneficial use of over 50 acres of undeveloped land located at the landfill. Ameresco has selected San Antonio-based Mission Solar Energy to manufacture and provide over 54,200,370W of Buy-American compliant solar modules to be used in the project.

The microgrid consists of a diverse portfolio of assets that allow for uninterrupted off-grid operations to ensure the continuity of the JBSA mission. The microgrid control system is capable of providing off-grid operation of 11.7 MW of photovoltaic generation while leveraging the integrated use of 4 MW/8 MWh of battery energy storage and 4 MW of gas fired generators to provide sustained electrical supply to critical building during the event of a utility outage or grid disruption.

The ESPC is guaranteed to provide $8.7 million in annual energy savings to JBSA. Ameresco will provide ongoing operations and maintenance (O&M) services to the base in support of the new energy systems. Ameresco will begin construction this fall and is scheduled to complete construction during in the summer of 2021. The buildings at JBSA will continue to be operational during the construction period.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco’s sustainability services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog. This project was reported in our awarded backlog as of June 30, 2018.

Read more: Defense Logistics Agency Energy Awards Contract...

BENTONVILLE, Ark. & SAN JOSE, Calif.--(BUSINESS WIRE)--Today, Walmart announced that it has reached an agreement with SunPower to have the commercial energy provider install solar systems at 19 stores and two distribution centers in Illinois.

As part of the project, a mix of rooftop and ground-mount solar systems are expected to account for 23 megawatts, with start of construction targeted for the first half of 2019. This commitment moves Walmart closer to its 2025 goal of supplying its global operations with 50 percent renewable energy. According to the U.S. Environmental Protection Agency (EPA) Greenhouse Gas Equivalencies Calculator, the amount of anticipated annual carbon offset by this initiative will be equal to the amount of carbon sequestered by over 24,000 acres of U.S. forest in one year – the size of Elgin, Ill.

“Solar is a vital component of Walmart’s expanding renewable energy portfolio,” said Mark Vanderhelm, vice president of energy for Walmart Inc. “Walmart plans to tirelessly pursue renewable energy projects that are right for our customers, our business and the environment. These planned projects with SunPower are moving us in the right direction toward our renewable energy goals.”

Walmart is financing the solar projects through a power purchase agreement (PPA) arranged by SunPower, allowing Walmart to buy power at competitive prices and hedge against future utility rate increases with no upfront capital costs. Walmart will own the renewable energy credits associated with the system.

“We commend Walmart for its leadership in driving corporate renewable energy adoption in the United States and for partnering with SunPower to deliver high-efficiency, high-quality solar to so many of its stores and facilities,” said Nam Nguyen, SunPower Executive Vice President, Commercial Americas. “As the top U.S. commercial solar provider and with over 30 years of experience, SunPower is well positioned to help Walmart increase its renewable energy investments in a cost-effective manner.”

In Illinois, smart state policy and rising utility rates make solar a smart investment for commercial customers. These installations will represent a 25 percent increase in Illinois’ current solar capacity and will generate enough electricity to power nearly 30,000 homes.

“Illinois Solar Energy Association is committed to advancing solar locally, enabling companies like Walmart – with stores and employees across our great state – to realize the economic and environmental value of renewable energy,” said Lesley McCain, Executive Director of the Illinois Solar Energy Association. “These projects will create hundreds of jobs for Illinois’ growing solar workforce while reducing pollution across the state.”

About Walmart

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, nearly 265 million customers and members visit our more than 11,200 stores under 55 banners in 27 countries and eCommerce websites. With fiscal year 2018 revenue of $500.3 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at

and on Twitter at http://twitter.com/walmart.

About SunPower

As one of the world's most innovative and sustainable energy companies, SunPower (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.

SUNPOWER’S FORWARD LOOKING STATEMENTS:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding project plans and timelines, product performance and expected energy output, and relative generating capacity. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to challenges inherent in constructing and maintaining certain of our large projects and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent reports on Form 10-K and Form 10-Q, particularly under the heading “Risk Factors.” Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpower.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

© 2018 SunPower Corporation. All Rights Reserved. SUNPOWER and the SUNPOWER logo are registered trademarks of SunPower Corporation in the U.S. and other countries as well.

Read more: Walmart, SunPower Announce 23-Megawatt Solar...

SAN FRANCISCO, October 23, 2018 /PRNewswire/ --

The global electrostatic precipitator market size is projected to be valued at USD 14.97 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.3% over the forecast period. Rising consumer awareness, inclination towards healthy lifestyle, and rise in air pollution are expected to drive the market growth.

     (Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg )

Rising adoption of air pollution control equipment, coupled with stringent government regulations, is expected to boost the global electrostatic precipitator market by 2025. Industrialization of energy and manufacturing industries is predicted to further enhance business growth over the forecast period.

Increasing investments and technological advancements are expected to encourage expansion of the market for electrostatic precipitator in the forthcoming years. Critical air pollution level caused by vehicles and industries coupled with high demand for pollution controlling equipment in developing countries such as India and China are anticipated to spur market growth over the forecast period.

The power generation segment is expected to expand at a CAGR of 4.2% over the forecast period. High dependency on electricity in automotive backed up with industrial automation is expected to boosts demand for power generation application in near future. Power generation industry has witnessed drastic change in processes as majority of the industrial players opted for renewable energy sources such as wind, natural gas, solar etc.

In terms of technology, the dry type electrostatic precipitator was valued at USD 9.66 billion in 2017 and is predicted to witness robust growth over the forecast period. High adoption coupled with government policies and regulations is projected to encourage market growth over the forecast period.

Browse full research report with TOC on "Electrostatic Precipitator Market Size, Share & Trends Analysis Report by Technology (Dry, Wet), By Application (Chemical, Metal, Power Generation, Manufacturing, Cement), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/electrostatic-precipitator-market

Further Key Findings From the Report Suggest: 

  • The U.S. electrostatic precipitator market revenue is projected to expand at a 2.2% CAGR over the forecast period owing to stringent governmental policies along with rise in demand for air pollution control equipment
  • U.K., in terms of revenue, is projected to register a 1.8% CAGR over the forecast period
  • Growth in the India market can be attributed to rapid pace of industrialization, rising air pollution levels, and evolving regulatory framework.

Browse related reports by Grand View Research: 

  • Battery Market - The global battery market size was USD 62.00 billion in 2014 on account of high demand from the automotive application.

Grand View Research has segmented the global electrostatic precipitator market on the basis of technology, application, and region: 

  • Electrostatic Precipitator Technology Outlook (Revenue, USD Million, 2014 - 2025) 
  • Electrostatic Precipitator Application Outlook (Revenue, USD Million, 2014 - 2025) 
    • Chemical
    • Metal
    • Power Generation
    • Cement
    • Manufacturing
    • Other
  • Electrostatic Precipitator Regional Outlook (Revenue, USD Million, 2014 - 2025) 
    • North America
    • Europe
      • Germany
      • Russia
      • U.K.
      • Spain
      • Italy
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • Australia
      • India
    • Central & South America
    • Middle East & Africa

Explore the BI enabled intuitive market research database, Grand View Compass, by Grand View Research, Inc.

About Grand View Research 

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: +1-415-349-0058
Toll Free: 1-888-202-9519
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.  

Web: https://www.grandviewresearch.com

SOURCE Grand View Research, Inc.

Read more: Electrostatic Precipitator Market Size Worth...

The Moscone Center is nearing completion of a three-and-a-half year, $500-million upgrade that will add 500,000 square feet of contiguous meeting space. All over the country, other cities are doing the same: expanding and modernizing their convention facilities in a ferocious competition to attract business and tourism dollars. New York City is leading the pack with a $1.5 billion expansion of Manhattan's Jacob K. Javits Convention Center. Not to be left behind, the Las Vegas Convention Center is spending $1.4 billion to expand and modernize1.

But acres of shiny new floor space, blazing-fast Wi-Fi and luxury lodgings will not mean much if attendees feel unsafe at convention facilities, most of which are located in the heart of major urban centers.

As the primary conference facility in San Francisco, Moscone Center has conventional, fixed camera surveillance throughout the building, where access to power and communications is available. In the outdoors, however, areas such as nearby parking garages, the venue perimeter and surrounding streets have security vulnerabilities; without easy access to power, it has traditionally fallen to manned security, when available, to secure these areas. Moscone needed extensibility, fast.

"The V5 PSU gives us a broader overview than our legacy systems could previously accommodate," explained Damion Ellis, Director of Safety and Security for the Moscone Center. "With V5 Systems units' real-time monitoring; we'll have visibility where needed. And because it's a cloud-based system, it allows for collaborative security."

Providing security for a convention center that sprawls across three blocks in the core of a major city can be a challenge, but the forward-thinking security team at Stadium Management Group saw V5 Systems' leading-edge technology as the way to expand their footprint.

"We're looking forward to helping attendees enjoy a secure experience not only at Moscone Center events, but at all short-term events around the city including fairs, festivals, marathons and outdoor concerts," said V5 Systems Chief Executive Officer, Steve Yung.

V5 Systems, leveraging Oracle Cloud Infrastructure, brings computing and security to the outdoors, where actionable data collection has been sparse. Oracle enables V5 Systems to quickly scale its solutions and provide its customers with easy and affordable storage. Yung will be a featured session speaker at Oracle OpenWorld, highlighting how the Oracle Cloud is integral to Industrial IoT growth.

"A secure convention facility is a must for any city," said Mazin Bedwan, V5 Systems president and co-founder. "Our wireless, self-powered units provide the flexibility and scalability needed to monitor previously inaccessible areas, so attendees and locals alike can feel safe. That's why we offer subscription and short-term rental options. That way, any-sized municipality can have our units onsite right away, wherever they're needed." While V5 Systems' technology allows for fast deployment, Bedwan believes that Oracle Cloud Infrastructure is the key that will allow V5 Systems to expand rapidly and globally.

V5 Systems' wireless units leap ahead of analog security systems by employing "edge computing"; meaning, each unit processes information at the point of contact without the need for sending information back and forth from a server or human interaction. The V5 PSU offers visual situational awareness.

V5 Systems solutions also include:

  • Surveillance and license-plate reading utilizing HD video
  • Acoustic detection that today, isolates the sound of a gunshot and relays information within seconds – directly to staff
  • Real-time edge analytics to detect people and vehicles in defined zones

Each solution is self-powered via a combination of bullet-resistant proprietary solar panels and battery management system, weighing 25 pounds to provide portable security in under 30 minutes per unit sans the need for trenching or wiring.

San Francisco elected a new mayor this year, Mayor London Breed, who is tasked with a mandate to restore and revitalize a city that has been a flashpoint for inequality and uneven growth. As Ellis explained, the Moscone Center has a working relationship with the local homeless population, and V5's technology is intended to respect and protect them as well, while maintaining a sustainable business flow that can fuel the city's programs to eradicate homelessness and improve quality of life for everyone. San Francisco is not the only city to realize that safer conference venues drive flourishing economies. Across the nation, cities seek to build a more verdant future for residents by investing in new, smart technology.

"We're in a high foot-traffic area," reiterated Ellis. "We want attendees to be safe everywhere. The V5 units give us the flexibility to easily reposition and monitor trouble spots. It allows for a wise use of resources that keeps us from becoming heavy handed with our local homeless population. It benefits everyone."   

About V5 Systems

V5 Systems is a California-based technology company that provides leading-edge portable, wireless, self-powered security solutions for Industrial IoT applications. They deliver turnkey video surveillance and gunshot detection solutions that can be deployed in under 30 minutes per unit, while the computing platform itself can act as a host for 3rd party hardware and software integration. These solutions utilize a proprietary power management system which eliminates the need for fixed power and hard-wired communications. V5 Systems develops and optimizes all software and AI analytics to run at the edge, which is instrumental to delivering real-time information to its users. Working with state and local government, education and private enterprises, V5 Systems delivers a next-generation security platform for the Industrial IoT.

1 https://www.reviewjournal.com/business/tourism/las-vegas-convention-center-expansion-to-shift-50-feet/

SOURCE V5 Systems

Related Links

http://www.v5systems.us

Read more: Moscone to Use Self-Powered Smart Security at...

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