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    United States Renewable Energy 11 May 22 - INDUSTRY SNAPSHOTS


    May 11, 2022 - Acquisdata Industry Snapshot

     

      LATEST COMPANY NEWS

      Renewables Now - Ecofin US Renewables seeks to raise USD 25.3m to fund more investments - 10/5/2022

      Ecofin US Renewables Infrastructure Trust PLC is seeking to raise up to USD 25.29 million in a share placement to bankroll "attractive investment opportunities" in its USD-3-billion (EUR-2.8bn) deal pipeline.

      For the complete story see:

      https://renewablesnow.com/news/ecofin-us-renewables-seeks-to-raise-usd-253m-to-fund-more-investments-783997/

      E&E News - Calif. unveils largest U.S. offshore wind target - 10/5/2022

      California energy officials have released a draft of the West Coast's first road map for offshore wind, calling for more gigawatts of electricity from the resource than any other U.S. state to date.

      For the complete story see:

      https://www.eenews.net/articles/calif-unveils-largest-u-s-offshore-wind-target/

      Energy Storage News - Stem ended Q1 with US$565m order backlog - 10/5/2022

      'Smart' energy storage provider Stem finished the first quarter of 2022 with an order backlog worth in excess of a half-billion dollars and reaffirmed previously issued revenue guidance for the year.

      For the complete story see:

      https://www.energy-storage.news/stem-ended-q1-with-us565m-order-backlog/

      Other Stories

      Energy Global - Burns & McDonnell to build US solar project - 10/5/2022

      PV Magazine - US developers working on 858 GWdc of solar, 1 TWh of batteries - 10/5/2022

      Offshore Wind - Masdar and JERA to Bid in Upcoming US Offshore Wind Lease Sale - 10/5/2022

      Romania Insider - US investment fund GIP takes over WDP's 1.9 GW offshore wind projects in Romania - 10/5/2022

      Evwind - Iberdrola builds 1,800 new MW of renewable energy in the US - 9/5/2022

      PV Tech - US solar delays prompt Indiana utility to push back coal retirements - 5/5/2022

      Media Releases

      Ballard Power Systems (NASDAQ: BLDP) - Ballard Power & Linamar Corporation achieve concept demonstration milestone - 9/5/2022

      Enphase Energy (NASDAQ: ENPH) - Enphase Energy Announces IQ™ Battery Compatibility with Third-Party Inverters in Europe - 9/5/2022

      Latest Research

      Energy justice and the co-opting of indigenous narratives in U.S. offshore wind development - By Eana Bacchiocch, iIngrid Sant, Alison Bates

      Industry Overview

      United States Renewable Energy Industry

      Overviews of Leading Companies

      Ascent Solar Technologies, Inc (OTCMKTS: ASTI)

      Alto Ingredients Inc . (NASDAQ: ALTO) formerly Pacific Ethanol (NASDAQ: PEIX)

      Ballard Power Systems (NASDAQ: BLDP)

      Brookfield Renewable Energy Partners LP (NYSE: BEP)

      Enphase Energy (NASDAQ: ENPH)

      First Solar Holding, LLC (NASDAQ: FSLR)

      Green Plains (Renewable Energy) Inc (NASDAQ: GPRE)

      Mass Megawatts Wind Power, Inc. (OTCMKTS: MMMW)

      Ocean Power Technologies, Inc (NASDAQ: OPTT)

      Ormat Technologies Inc. (NYSE: ORA)

      ReneSola, Ltd (NYSE: SOL)

      Sunworks Inc (NASDAQ: SUNW)

      SunPower Corporation (NASDAQ: SPWR)

      Sunrun (NASDAQ: RUN)

      Associate: Danny Cliffson Crispin Benos

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      News and Commentary

      Renewables Now - Ecofin US Renewables seeks to raise USD 25.3m to fund more investments - 10/5/2022

      Ecofin US Renewables Infrastructure Trust PLC is seeking to raise up to USD 25.29 million in a share placement to bankroll "attractive investment opportunities" in its USD-3-billion (EUR-2.8bn) deal pipeline.

      For the complete story see:

      https://renewablesnow.com/news/ecofin-us-renewables-seeks-to-raise-usd-253m-to-fund-more-investments-783997/

      E&E News - Calif. unveils largest U.S. offshore wind target - 10/5/2022

      California energy officials have released a draft of the West Coast's first road map for offshore wind, calling for more gigawatts of electricity from the resource than any other U.S. state to date.

      For the complete story see:

      https://www.eenews.net/articles/calif-unveils-largest-u-s-offshore-wind-target/

      Energy Storage News - Stem ended Q1 with US$565m order backlog - 10/5/2022

      'Smart' energy storage provider Stem finished the first quarter of 2022 with an order backlog worth in excess of a half-billion dollars and reaffirmed previously issued revenue guidance for the year.

      For the complete story see:

      https://www.energy-storage.news/stem-ended-q1-with-us565m-order-backlog/

      Energy Global - Burns & McDonnell to build US solar project - 10/5/2022

      Burns & McDonnell is supporting Buckeye Partners, L.P. (Buckeye) as the engineering, procurement, and construction (EPC) contractor for a new 164-MW solar energy project.

      For the complete story see:

      https://www.energyglobal.com/solar/10052022/burns-mcdonnell-to-build-us-solar-project/

      PV Magazine - US developers working on 858 GWdc of solar, 1 TWh of batteries - 10/5/2022

      US government research shows that solar-plus-storage is starting to dominate the nation's power grid queues, representing the majority of new power plant applications.

      For the complete story see:

      https://www.pv-magazine.com/2022/05/10/us-developers-working-on-858-gwdc-of-solar-1-twh-of-batteries/

      Offshore Wind - Masdar and JERA to Bid in Upcoming US Offshore Wind Lease Sale - 10/5/2022

      The US Bureau of Ocean Energy Management (BOEM) has prequalified 16 companies for Carolina Long Bay lease sale.

      For the complete story see:

      https://www.offshorewind.biz/2022/05/10/masdar-and-jera-to-bid-in-upcomi...

      Romania Insider - US investment fund GIP takes over WDP's 1.9 GW offshore wind projects in Romania - 10/5/2022

      US infrastructure investment fund Global Infrastructure Partners (GIP), with assets of around USD 81 bln, took over the offshore wind projects division of the German group WPD, including the projects in Romania.

      For the complete story see:

      https://www.romania-insider.com/gip-takeover-wdp-may-2022

      Evwind - Iberdrola builds 1,800 new MW of renewable energy in the US - 9/5/2022

      Iberdrola continues to make progress in its commitment to the development of renewable energies in the United States.

      For the complete story see:

      https://www.evwind.es/2022/05/09/iberdrola-builds-1800-new-mw-of-renewable-energy-in-the-us/86011

      PV Tech - US solar delays prompt Indiana utility to push back coal retirements - 5/5/2022

      US utility company NiSource has pushed back the shutdown of some of its coal units owing to delays on the completion of some of its solar PV and co-located projects.

      For the complete story see:

      https://www.pv-tech.org/us-solar-delays-prompts-indiana-utility-to-push-back-coal-retirements/

      https://www.facebook.com/acquisdata/

      Media Releases

      Ballard Power Systems (NASDAQ: BLDP) - Ballard Power & Linamar Corporation achieve concept demonstration milestone - 9/5/2022

      VANCOUVER and GUELPH, CANADA - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) and Linamar Corporation (TSX: LNR) today announce the unveiling of its concept hydrogen fuel cell powered class 2 truck chassis. The technology demonstration platform is showcased this week at the ACT Expo (https://www.actexpo.com/) displayed in a RAM 2500 truck chassis. Testing on the new platform is underway and will continue in 2022 and 2023.

      Linamar and Ballard announced a strategic partnership in May 2021 to co-develop fuel cell powertrains for class 1 and 2 vehicles. This demonstration platform is a result of the partnership's progress.

      The class 2 truck chassis integrates Ballard's 8th generation heavy duty fuel cell module, the FCmove-HD+, launched late last year. The FCmove-HD+ is more compact, lighter, and built with fewer components than Ballard's previous 100kW module. These enhancements result in lower total lifecycle cost while maintaining leading operating performance, high efficiency, and wide operating ranges for the Linamar-Ballard powertrain.

      The demonstration platform features Linamar's Rolling Chassis concept which highlights its advanced electrification and fuel cell technology under its new sub-brand, eLIN. eLIN is showcasing its FlexForm conformable hydrogen storage system, which utilizes advanced manufacturing materials and techniques to provide customers efficient hydrogen storage of up to 25% more storage capability than conventional tanks. eLIN also incorporates a wide range of electric drive axle products and in-house battery technology into the demonstration platform that are currently available to customers worldwide.

      Randy MacEwen, CEO, Ballard Power Systems said, "We are encouraged by this demonstration milestone with Linamar to create leading zero emission vehicles for class 1 and 2 trucks. The quick refueling times, long range capabilities and payloads comparable to diesel vehicles make our hydrogen fuel cell powered vehicles a competitive zero emission solution. We believe the evolution of our technology and strategic partnership with Linamar continues to position us at the forefront in this growing market."

      "The work our teams have accomplished through this partnership to commercialize fuel cell solutions for light duty vehicles is truely transformative. The demonstration chassis and its systems really showcase the plug-and-play nature of our technologies," said Linamar CEO Linda Hasenfratz, "This demonstration concept will make the evolution from Battery Electric Vehicles to Fuel Cell Electric Vehicles seamless and drive real change in terms of environmental sustainability."

      https://www.ballard.com/about-ballard/newsroom/news-releases/2022/05/09/ballard-power-linamar-corporation-achieve-concept-demonstration-milestone

      Enphase Energy (NASDAQ: ENPH) - Enphase Energy Announces IQ™ Battery Compatibility with Third-Party Inverters in Europe - 9/5/2022

      FREMONT, Calif., May 09, 2022 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today that Enphase IQ™ Batteries now officially support the most common third-party solar energy string inverters in Belgium and Germany, helping meet the increasing demand for energy independence in the region.

      Since the 2021 launch of the IQ Battery in Belgium and Germany, installers of Enphase® products have seen increasing deployments of Enphase Energy Systems™ powered by IQ® Microinverters and IQ Batteries, as well as residential solar-only energy systems powered by IQ7™, IQ7+™, and IQ7A™ Microinverters.

      The Enphase Energy System provides an all-in-one solution with its IQ Microinverters and IQ Batteries that allows homeowners to store their energy for later use and avoid relying on expensive energy from the grid. Now, IQ Batteries can also be installed with both single-phase and three-phase third-party solar energy inverters, enabling homeowners in Belgium and Germany to upgrade their existing home solar systems with a reliable residential battery storage solution that reduces costs while providing increased self-reliance.

      "The Belgium storage market is growing rapidly," said Kazim Yasar, general manager at Soloya, an Enphase Silver level installer based in Belgium. "This development will enable more homeowners to connect their solar systems to an Enphase product and experience the reliability of the IQ Batteries."

      "We are excited that Enphase engineers have approved the combination of the IQ Battery with third-party inverters," said Christopher Coolen, operational director at Alfasun, a leading solar and battery company based in Belgium. "This is an important step in becoming a leading solar and battery brand within Belgium."

      Enphase delivers a safer solar-plus-battery solution that does not expose installers or homeowners to high-voltage DC. Enphase IQ Batteries feature Lithium Iron Phosphate (LFP) battery chemistry, which provides a long cycle life and safer operation through excellent thermal stability. The Enphase IQ Batteries accommodate over-the-air software upgrades and come with a 10-year limited warranty. When used with third-party solar inverters, the Enphase® App will display essential data featuring the solar production for the system.

      "We are happy that the testing by Enphase engineers has resulted in the official approval to connect the IQ Battery to non-Enphase solar systems," said Robert Hecht, founder and owner of Robert Hecht Systemtechnik, a leading solar and battery company based in Germany. "This will enable us to easily retrofit the IQ Battery to any installed solar system without a storage connection."

      "We are excited that Germany is the first country in Europe where Enphase officially approved a retrofit storage solution with a third-party inverter," said Hardy Barth, founder and owner of EDV- und Elektrotechnik Hardy Barth GmbH, a leading solar and battery company based in Germany. "This is a clear sign of Enphase's commitment to become a significant player in the German solar market by offering a reliable storage solution."

      "Belgium and Germany are two key and fast-growing European markets for Enphase products," said Dave Ranhoff, chief commercial officer at Enphase Energy. "The IQ Battery's compatibility with third-party inverters means that homeowners can easily add the industry's leading residential battery storage product to their home energy systems in order to meet their energy needs."

      https://newsroom.enphase.com/news-releases/news-release-details/enphase-energy-announces-iqtm-battery-compatibility-third-party

      # Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries #

      # Reportal: a vast archive of corporate documents from listed companies around the world #

      Latest Research

      Energy justice and the co-opting of indigenous narratives in U.S. offshore wind development

      Eana Bacchiocch, iIngrid Sant, Alison Bates

      Abstract

      The possibility of substantial offshore wind energy development in the United States (U.S.) is rapidly advancing. Several offshore wind projects have been proposed proximate to federally-recognized tribal territory. Historically marginalized, indigenous communities have for centuries experienced injustices during the expansion of the U.S. energy system. Few studies have systematically examined the responses of indigenous communities to offshore wind, and little is known about the ways that indigenous concerns are leveraged by non-members to advance a position advocating for or against offshore development. In this study, we examine the discourses that surround indigenous communities through legally mandated decision-making processes for two proposed offshore wind projects in the northeast U.S. We show that narratives surrounding indigenous stakeholders in the offshore wind scoping process can be thematically identified as: 1. religious, cultural, and spiritual value, 2. land and identity, and 3. process and procedures. However, the concerns and perspectives of indigenous communities are mostly brought forth by non-group members, and were found to be leveraged or diminished by non-indigenous individuals pushing anti- or pro-offshore wind sentiment. This reveals the finding that indigenous concerns are being co-opted or sidelined through formal and legal decision-making processes in the U.S. The results indicate that the formal consultation process failed to meet standards of energy justice by inadvertently giving outsize voice to lesser impacted communities. Therefore, our study cautions that energy justice is not achieved solely through "inclusive" processes and decision-makers should be diligent in considering the multi-faceted aspects of justice.

      https://www.sciencedirect.com/science/article/pii/S1755008422000175

      The Industry

      According to the U.S. Energy Information Administration's (EIA) latest inventory of electricity generators, developers and power plant owners plan for 39.7 gigawatts (GW) of new electricity generating capacity to start commercial operation in 2021. Solar will account for the largest share of new capacity at 39%, followed by wind at 31%. About 3% of the new capacity will come from the new nuclear reactor at the Vogtle power plant in Georgia.

      Solar photovoltaics. Developers and plant owners expect the addition of utility-scale solar capacity to set a new record by adding 15.4 GW of capacity to the grid in 2021. This new capacity will surpass last year's nearly 12 GW increase, based on reported additions through October (6.0 GW) and scheduled additions for the last two months of 2020 (5.7 GW). More than half of the new utility-scale solar photovoltaic (PV) capacity is planned for four states: Texas (28%), Nevada (9%), California (9%), and North Carolina (7%). EIA's Short-Term Energy Outlook forecasts an additional 4.1 GW of small-scale solar PV capacity to enter service by the end of 2021.

      Wind. Another 12.2 GW of wind capacity is scheduled to come online in 2021. Last year, 21 GW of wind came online, based on reported additions through October (6.0 GW) and planned additions in November and December (14.9 GW). Texas and Oklahoma account for more than half of the 2021 wind capacity additions. The largest wind project coming online in 2021 will be the 999-megawatt (MW) Traverse wind farm in Oklahoma. The 12-MW Coastal Virginia Offshore Wind (CVOW) pilot project, located 27 miles off the coast of Virginia Beach, is also scheduled to start commercial operation in early 2021.

      Natural gas. For 2021, planned natural gas capacity additions are reported at 6.6 GW. Combined-cycle generators account for 3.9 GW, and combustion-turbine generators account for 2.6 GW. More than 70% of these planned additions are in Texas, Ohio, and Pennsylvania.

      Battery storage. EIA expects the capacity of utility-scale battery storage to more than quadruple; 4.3 GW of battery power capacity additions are slated to come online by the end of 2021. The rapid growth of renewables, such as wind and solar, is a major driver in the expansion of battery capacity because battery storage systems are increasingly paired with renewables. The world's largest solar-powered battery (409 MW) is under construction at Manatee Solar Energy Center in Florida; the battery is scheduled to be operational by late 2021.

      Source:U.S. Energy Information Administration (EIA)

      https://www.eia.gov/todayinenergy/detail.php?id=46416

      # Acquisdata: Up to date business intelligence reports covering developments in the world's fastest growing industries #

      # Reportal: a vast archive of corporate documents from listed companies around the world #

      Leading Companies

      Ascent Solar Technologies, Inc. (OTCMKTS : ASTI)

      After two decades of research and development, Ascent Solar was formed in 2005, to commercialize leading-edge CIGS photovoltaic technology on flexible, plastic substrate. Ascent's unique monolithic integration process enables the highest level of efficiency, durability & weight savings representing the potential to transform the way solar power can be used in everyday life. Ascent Solar's Research and Development and its 30 MW nameplate production facility is in Thornton, Colorado.

      By pioneering a technology that is recognized as the future of the solar industry, Ascent has cemented itself as the leader in the manufacturing of innovative, high performance, flexible thin-film solar panels for both existing and emerging defense, consumer electronic, space, and aerospace applications.

      Ascent's results-oriented team is focused on continued technical innovation while effectively developing current market opportunities and enabling customers to create transformational applications using solar power.

      https://www.ascentsolar.com/ir-company-overview.html

      15 March 2022

      Ascent Solar Files 2021 10-K and Reports Full Year 2021 Financial Results

      THORNTON, CO, March 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire - Ascent Solar Technologies, Inc. ("Ascent Solar" "Ascent" or the "Company") (OTCMKTS: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, reported full year financial results for the year ended December 31, 2021 in its 10-K filed on March 14, 2022.

      Full Year 2021 Financial Summary:

      Revenue for the year 2021 was $608K, an increase of $541K, or 812%, from 2020.

      Costs and expenses were $9.4M, an increase of $6.88M, or 258%, compared to $2.5M in year 2020, when the Company was in the process of re-emerging from its dormant period.

      Net loss for the year was $6M, which included a non-cash gain of approximately $4M from the changes in fair value of derivatives and loss on extinguishment of liabilities.

      Cash balance improved greatly from $0.17M as of December 31, 2020 to approximately $6M at the close of the year ended December 31, 2021.

      Most notably, total liabilities were significantly reduced from the $27.56M balance on December 31, 2020, down $11.9M or 43%, to a $15.7M balance at the end of year ended December 31, 2021. Following the 2021 year end, $9.2M of convertible notes were converted into common stock of the Company in February 2022, further reducing the total liabilities.

      As previously reported, for much of 2020, the Company was predominantly in a dormant status due to financial constraints and impact from COVID-19. Beginning in mid-2020, management pursued a restructuring process for the Company which included (not limited to):

      Securing about $2.75M financing from strategic investors between June and September 2020;

      Strengthening the Company's board and management team between October and December 2020;

      Aligning with a leading German agrivoltaic thin-film solar tube maker to secure a strategic $2.5M capital infusion in January 2021, as well as a multi-million dollar long-term supply agreement in September 2021;

      Securing $3M common stock investment from a private investor in March 2021;

      Reducing liabilities through the conversion of $5.8M of convertibles notes into common stock of the Company in March 2021;

      Completing delivery on a supply contract with a developer of advanced unmanned, helium-filled airships in May 2021;

      Regaining its status as a current public filer with the SEC in May 2021;

      Being recognized for exceptional device stability during space flight experiments while also receiving an Innovation Award at the Defense TechConnect Conference in October 2021; and,

      Completing a strategic capital raise of $10M from the Company's largest stakeholder between August and November 2021.

      Management Comments:

      "Since September of 2020, the Ascent team has been working to restart our operations and get caught up with the required SEC filings," commented Victor Lee, President and CEO of Ascent Solar Technologies, Inc. "Despite setbacks caused by various challenges including the lack of financial resources and the impact of COVID-19 in 2020, I am extremely pleased with our restructuring and recapitalization efforts, our currency in our SEC filings, as well as the new Board of Directors composition, and our appointment of Michael Gilbreth as CFO," continued Mr. Lee. "We will continue our reorganization effort to strengthen our balance sheet and streamline our business model to focus on our core strength in the Tier-1 specialty PV markets with high entry barriers like the space and near-space, aviation (drones), military, 1st Responders and emergency power markets.

      "The Company has made significant progress in these high-value markets, and will continue to focus in such areas where Ascent is truly at the forefront of the competition. Most notably, as mentioned above, Ascent's thin-film modules were selected and launched by NASA Marshall Space Flight Center to the International Space Station (November 17, 2018) as part of the MISSE-X flight experiment, and were recognized for its exceptional device stability during the space flight experiments and also received the Innovation Award at the Defense TechConnect Conference in 2021. The Company was also selected for further participation in two upcoming flight demonstrations - the Lightweight Integrated Solar Array and anTenna (LISA-T) project and the Solar Cruiser solar sail project. Other notable milestones include our continuous development effort with JAXA (Japan Aerospace Exploration Agency)'s SolarPowerSail project utilizing Ascent's superlight thin-film modules, as well as multiple other private agencies' selection of our PV technology for further testing and evaluation for deep space missions."

      Mr. Lee concluded, "Great progress was also made in the defense and emergency power market, which we believe will add to revenue growth in 2022 and beyond. We are optimistic and certainly look forward to stronger years ahead, as our high-value PV market focus begins to take shape. We will update our shareholders as we make continued progress."

      https://www.globenewswire.com/news-release/2022/03/15/2403130/0/en/Ascen... .

      Alto Ingredients Inc. (NASDAQ: ALTO) formerly Pacific Ethanol (NASDAQ: PEIX)

      Alto Ingredients, Inc., formerly known as Pacific Ethanol, Inc., is a leading producer of specialty alcohols and essential ingredients. Alto Ingredients is a leading manufacturer and supplier of essential ingredients such as industrial and beverage alcohols, premium feed and food products, and renewable fuel.

      Alto Ingredients manufactures and supplies:

      Specialty alcohols

      USP and FCC certified industrial and beverage grade alcohols used in health and industrial applications, cosmetics, pharmaceutical and other consumer products.

      Premium feed and food products

      Alto Yeast, a refined distiller's yeast used in pet and human food applications. Alto Yeast is produced in an AIB inspected facility and is Kosher and Chametz-free certified.

      Corn gluten, a high protein meal used in pet food, poultry and aquaculture, and as a high protein additive to cattle feed rations.

      Corn Condensed Distillers Solubles, a high energy and protein syrup used in cattle feed rations.

      Corn oil and corn germ, used in feed markets, biodiesel production, and for refinement into oils used in human food.

      Distillers grains, a protein and energy feed used as animal feed and shipped to domestic and foreign markets.

      Low carbon renewable fuels

      Renewable Fuel produced from corn is a low carbon fuel and a major contributor to a sustainable energy economy. Fuel ethanol burns cleanly and increases the octane of gasoline, which in turn allows internal combustion engines to operate more efficiently.

      Our Pekin Illinois Campus encompasses three mills, a wet mill and two dry mills, plus a specialty yeast production plant. Our Western US Facilities comprises four dry mills and distilleries in California, Oregon and Idaho. All of our facilities have superior logistical attributes allowing for efficient delivery to domestic and international markets.

      https://www.pacificethanol.com/our-company

      9 May 2022

      Alto Ingredients, Inc. Reports First Quarter 2022 Results

      Increased Net Sales 41% to $308 Million vs. Q1 2021

      Integrated Acquisition of Specialty Alcohol Distributor, Eagle Alcohol

      Launched Quality and ESG Initiatives

      SACRAMENTO, Calif., May 09, 2022 (GLOBE NEWSWIRE) -- Alto Ingredients, Inc. (NASDAQ: ALTO), a leading producer and distributor of specialty alcohols and essential ingredients, reported its financial results for the quarter ended March 31, 2022.

      "Our first quarter results validated our strategy to invest in specialty alcohols and essential ingredients," said Mike Kandris CEO of Alto Ingredients. "Product diversification, with increased sales from higher margin products combined with operational improvements, partially offset the impact of the challenging commodities market. To further our strategy, we acquired a small-package distributor serving premium spirits markets in January and qualified for additional certifications valuable to pharmaceutical customers in February. These initiatives broadened our opportunities and enhanced our position in the marketplace. We are evaluating new capital expenditure programs to create additional long-term stakeholder value. We remain focused on executing on our strategic goals, investing for future growth and diversifying our product portfolio."

      Financial Results for the Three Months Ended March 31, 2022 Compared to 2021

      Net sales were $308.1 million, compared to $218.7 million.

      Cost of goods sold was $303.3 million, compared to $204.9 million.

      Gross profit was $4.8 million, compared to $13.8 million.

      Selling, general and administrative expenses were $7.6 million, compared to $7.0 million.

      Operating loss was $2.9 million, compared to operating income of $5.6 million.

      Net loss available to common stockholders was $2.9 million, or $0.04 per share, compared to net income of $4.4 million, or $0.06 per diluted share.

      Adjusted EBITDA was $4.4 million, compared to $13.4 million.

      Cash and cash equivalents were $36.2 million at March 31, 2022, compared to $50.6 million at December 31, 2021.

      Use of Non-GAAP Measures

      Management believes that certain financial measures not in accordance with generally accepted accounting principles ("GAAP") are useful measures of operations. The company defines Adjusted EBITDA as unaudited net income (loss) attributed to Alto Ingredients, Inc. before interest expense, interest income, provision (benefit) for income taxes, asset impairments, loss on extinguishment of debt, acquisition-related expense, fair value adjustments, and depreciation and amortization expense. A table is provided at the end of this release that provides a reconciliation of Adjusted EBITDA to its most directly comparable GAAP measure, net income (loss) attributed to Alto Ingredients, Inc. Management provides this non-GAAP measure so that investors will have the same financial information that management uses, which may assist investors in properly assessing the company's performance on a period-over-period basis. Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as an alternative to net income (loss) attributed to Alto Ingredients, Inc. or any other measure of performance under GAAP, or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA has limitations as an analytical tool and you should not consider this measure in isolation or as a substitute for analysis of the company's results as reported under GAAP.

      For full release see:

      https://ir.altoingredients.com/news-events/press-releases/detail/589/alto-ingredients-inc-reports-first-quarter-2022-results

      Ballard Power Systems (NASDAQ: BLDP)

      Zero emission fuel cell vehicles will positively change the lives of the next generation. By relentlessly developing and improving our technology, we will make a real difference. This makes us extremely proud to work at Ballard.

      Our Vision:

      We deliver fuel cell power for a sustainable planet.

      Our Mission:

      We use our fuel cell expertise to deliver valuable and innovative solutions to our customers globally, create rewarding opportunities for our team, provide extraordinary value to our shareholders and power the hydrogen society.

      Our Values:

      Listen and Deliver - We listen to our customers, understand their business and deliver valuable and innovative solutions for lasting partnerships.

      Quality Always -We deliver quality in everything we do

      Inspire Excellence - We live with integrity, passion, urgency, agility and humility.

      Row Together - We achieve success through respect, trust and collaboration

      Own It - We step up, take ownership for our results and trust others to do the same

      Our Strategy:

      Our business strategy is a two-pronged approach to build shareholder value through the sale and service of power products and the delivery of technology solutions.

      In Power Product sales, our focus is on meeting the power needs of our customers by delivering high value, high reliability, high quality and clean energy power products that reduce customer costs and risks.

      Through Technology Solutions, our focus is on enabling our customers to solve their technical and business challenges and accelerate their fuel cell programs by delivering customized, high value, bundled technology solutions.

      https://www.ballard.com/about-ballard/our-vision

      9 May 2022

      Ballard Reports Q1 2022 Results

      VANCOUVER, CANADA - Ballard Power Systems (NASDAQ: BLDP; TSX: BLDP) today announced consolidated financial results for the first quarter ended March 31, 2022. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).

      "The converging macro drivers of energy security and climate crisis have irreversibly shifted global views on the need to accelerate our energy transition," said Mr. Randy MacEwen, President and CEO. "This is the context as Ballard continues to build a valuable business that will help to decarbonize medium- and heavy-duty motive applications, including certain bus, truck, rail and marine market segments. We continue to focus on our customer relationships and achieve platform wins where Ballard's leading fuel cell technology offers a future zero-emission value proposition based on range, payload, rapid refueling, and attractive total cost of ownership."

      Mr. MacEwen remarked, "In the first quarter, we achieved revenue of $21.0 million, a 19% increase from Q1 2021, while also securing new orders totaling $27.8 million, driven primarily by European customers. Our gross margin compression is consistent with our 2022 plan, reflecting expected changes in our revenue mix, selling prices, and cost structure. On revenue mix, we have a heavier weighting of module product sales, including new modules in early volume production. On selling prices, we have been pricing certain low-volume customer pilot projects to secure platform wins with strategic accounts. On costs, fixed overhead costs are elevated as we invested in advanced manufacturing and production capacity expansion. Like others, we have also seen some inflationary cost pressures in our supply chain and freight. While we expect compressed gross margin in the near term, we are confident in margin expansion in the mid- to long-term driven by higher production volumes as customers transition from pilot projects to commercial deployment and as we continue to progress on our product cost reduction program."

      "We ended the quarter with strong cash reserves of $1.1 billion, which enables us to execute our growth strategy. Our escalated investment is consistent with our outlook as we increase our spending on talent, technology, products, capabilities, and customer experience. We are confident investing ahead of the curve will position the company for significant market share as the adoption of hydrogen accelerates over the coming years," Mr. MacEwen added.

      Q1 2022 Financial Highlights

      (all comparisons are to Q1 2021 unless otherwise noted)

      Total revenue was $21.0 million in the quarter, up 19% year-over-year. This increase was driven by growth in Power Product sales, more than offsetting the decline in Technology Solutions revenue.

      Power Products generated revenue of $13.3 million in the quarter, an increase of 41%, driven by higher shipments of fuel cell products.

      Stationary Power Generation revenues of $4.1 million increased 447%, supported by an increase in sales of stationary power generation fuel cell modules, stacks, products and service revenues.

      Heavy-Duty revenues of $6.9 million increased by a nominal amount.

      Material Handling revenues of $2.2 million increased 28%, primarily as a result of higher shipments to Plug Power.

      Technology Solutions generated revenue of $7.8 million in the quarter, a decrease of 5% due primarily to variance in timing of underlying program requirements.

      Gross margin was (1)% in the quarter, a decrease of 16-points, driven by a combination of higher fixed overhead costs, a shift in revenue mix, and increased labor, supply, and freight expenses.

      Operating Expenses and Cash Operating Costs were $30.3 million and $26.1 million in the quarter, respectively, an increase of 69% and 82%, respectively. Increases were driven primarily by higher expenditure on research, technology and product development activities, including the development of next-generation fuel cell stacks and engines for target markets, as well as increased continuation engineering investments in existing fuel cell products. Costs were also higher as a result of increased general and administrative expenses and sales and marketing expenses.

      Adjusted EBITDA was ($27.5) million, compared to ($14.0) million in Q1 2021, primarily a result of the decrease in gross margin and increase in Cash Operating Costs.

      Ballard received approximately $27.8 million of new orders in Q1, and delivered orders valued at $21.0 million, resulting in an Order Backlog of approximately $99.8 million at end-Q1.

      The 12-month Order Book was $65.8 million at end-Q1, a decrease of $1.6 million from the end of Q4 2021.

      Post-Quarter Commercial Update

      On April 6, 2022, Ballard announced it received Europe's industry first Type Approval by DNV, one of the world's leading classification and certification bodies, for its marine fuel cell module FCwaveTM. The Type Approval marks an important step in commercializing Ballard's fuel cell technology for marine applications and is key to including fuel cells as part of zero-emission solutions for the marine industry.

      2022 Outlook

      Ballard's 2022 outlook remains in line with previously stated 2022 guidance of Total Operating Expense4 between $140 - $160 million and Capital Expenditure5 between $40 - $60 million.

      For full release see:

      https://www.ballard.com/about-ballard/newsroom/news-releases/2022/05/09/ballard-reports-q1-2022-results

      Brookfield Renewable Energy Partners LP (NYSE: BEP)

      Brookfield Renewable Energy Partners LP are one of the world's largest investors in renewable power, with 18,100 megawatts of generating capacity. Our assets, located in North and South America, Europe, India and China, comprised a diverse technology base of hydro, wind, utility-scale solar, distributed generation, storage and other renewable technologies.

      We utilize our fully integrated global operating platform and in-house expertise to maintain facilities, organically add value and efficiently integrate new assets, realizing cost synergies in the process. Our business is underpinned by stable cash flows, with the majority of our power contracted under long-term, inflation-linked contracts.

      Renewable power for a cleaner, brighter tomorrow

      The TerraForm companies strengthen Brookfield's position as a global leader in renewable power, adding significant wind and solar assets as well as operating platforms in India and China.

      Renewable Power sectors

      Our hydro power assets are characterized by a perpetual asset life, high cash margins, and storage capacity.

      Isagen — In 2016, we acquired Colombia's third-largest power generation portfolio, based primarily on hydro and accounting for roughly 20% of the country's generation, with 3,000 megawatts of capacity. This investment was possible because of our ability to be patient over a lengthy sale process, along with our underwriting capabilities and hydro expertise.

      Invest with Brookfield

      Our pure-play global renewables portfolio is available to investors through our publicly listed vehicle, Brookfield Renewable Partners. Investors can also participate in the growth of our assets through our private funds.

      https://www.brookfield.com/our-businesses/renewable-power

      6 May 2022

      Brookfield Renewable Announces Strong First Quarter Results

      BROOKFIELD, News, May 06, 2022 (GLOBE NEWSWIRE) -- Brookfield Renewable Partners L.P. (TSX: BEP.UN; NYSE: BEP) ("Brookfield Renewable Partners", "BEP") today reported financial results for the three months ended March 31, 2022.

      "Our business performed well in the quarter as we delivered solid financial results and executed on several key strategic initiatives, including entering a new decarbonization asset class with an investment in carbon capture solutions," said Connor Teskey, CEO of Brookfield Renewable. "With decarbonization and energy security firmly established as a priority of global leaders, we are well positioned to deploy capital at accretive returns, leveraging our global reach, operating capabilities and development pipeline to accelerate the build-out of clean energy at scale and drive decarbonization across a growing opportunity set."

      Financial Results

      Millions (except per unit or otherwise noted) For the three months ended March 31 Unaudited 2022 2021 Select Financial Information Net loss attributable to Unitholders $ (78) (133) Per LP unit (1) (0.16) (0.24) Funds From Operations (FFO) (2) 243 242 Per Unit (2)(3) 0.38 0.38 Normalized Funds From Operations (FFO) (2)(4) 292 245 Per Unit (2)(3)(4) 0.45 0.38 Operational Information Total generation (GWh) - Long-term average generation 15,097 14,099 - Actual generation 15,196 13,828 Brookfield Renewable Partner's share (GWh) - Long-term average generation 7,414 7,602 - Actual generation

      Brookfield Renewable reported FFO of $243 million or $0.38 per Unit for the three months ended March 31, 2022, an 18% increase on a normalized basis over the same period prior year. After deducting non-cash depreciation and other non-cash charges, our Net loss attributable to Unitholders for the three months ended March 31, 2022 was $78 million or $0.16 per LP unit.

      Highlights

      We generated funds from operations (FFO) of $243 million or $0.38 per unit, an 18% increase on a normalized basis over the same period in 2021.

      We advanced key commercial priorities, securing contracts to deliver over 1,400 gigawatt hours of clean energy annually including 500 gigawatt hours to corporate offtakers.

      We continued to accelerate our development activities, executing on our 15,000-megawatt under-construction and advanced-stage pipeline and expanding our development pipeline to 69,000 megawatts, as well as plans to submit joint-bids with a European partner to build two 750-megawatt offshore wind projects in the upcoming Dutch subsidy-free tender process.

      We closed or agreed to invest over $1.6 billion (~$340 million net to Brookfield Renewable) of capital across multiple transaction and regions, including our first investment in carbon capture solutions.

      We are progressing on ~$560 million (~$90 million net to Brookfield Renewable) of asset recycling activities, selling non-core and mature assets at strong returns. We also continued to accelerate our financing activities, maintain our robust financial capacity with close to $4 billion of available liquidity, no material near-term maturities and limited floating rate exposure.

      Update On Growth Initiatives

      To date in 2022, we have invested or agreed to invest over $1.6 billion (~$340 million net to Brookfield Renewable) of capital across various investments, all of which should meet or exceed our target returns of 12-15%.

      During the quarter, we closed the previously announced acquisition of both a U.S. and a German utility-scale solar development business that together have a 22,000-megawatt development pipeline in high-value markets. Since announcing these investments, we have seen strong inbound PPA demand from several high-quality buyers of clean energy, driving upside to our initial business plans.

      We entered a new decarbonization asset class with our investment in a leading North American modular carbon capture solutions provider. Given the trillions of dollars required to decarbonize hard to abate industrial sectors over the coming decades, we see significant potential to grow our carbon capture footprint over time, and we believe we are well positioned to do so given our strong expertise in decarbonization and experience as an operating partner and capital provider to our global network of like-minded customers.

      Our investment, through a convertible security, provides an attractive entry point into carbon capture solutions with a strong partner, a proven and cost-effective product and a sizeable development pipeline. We have committed funding of up to C$300 million for projects meeting pre-agreed return thresholds and have already begun funding the build-out of our first project. The structure of the investment provides strong downside protection, and the securities, which earn an annual coupon of 8%, are convertible into the common equity of the company at our option at any time. If 100% of our commitment is invested, which we expect given the escalating carbon price and proposed investment tax credit for carbon capture in Canada, upon conversion, we will own a majority of the common equity of the business.

      Our distributed generation business continued to exceed expectations, as the trends of decentralized power generation and direct customer interaction accelerate. In fact, following the one-year anniversary of our most recent acquisition in the U.S., we are now originating several hundred megawatts of new projects annually, almost 10 times the volume prior to our ownership. Our global distributed generation operating assets have grown to over 1,500 megawatts and our development pipeline has increased to over 8,600 megawatts, including significant potential capacity to provide distributed generation solutions across Brookfield's broader business. With our leading capabilities in North America, South America, Europe and Asia, and our ability to offer a global solution for our clients, we are well positioned to continue this strong execution.

      In Asia, we agreed to acquire a 235 megawatt fully contracted wind portfolio consisting of 155 megawatts of operating and 80 megawatts of ready-to-build projects for $90 million from a large and reputable local developer that will tuck-in to our existing operations. The portfolio is part of a larger opportunity of almost 700 megawatts of operating and construction-ready projects that we have secured exclusivity on.

      We made significant progress delivering our construction pipeline. We commissioned 536 megawatts of capacity and continued to advance our U.S. repowering program, including the 845-megawatt Shepherds Flat project, and our 1,200-megawatt Janauba solar development project in Brazil.

      We finished the quarter with 15,000 megawatts of construction and advanced-stage projects. These projects are diversified across distributed and utility-scale solar, wind, storage, hydro and green hydrogen in 15 different countries, and in total, we expect them to contribute almost $150 million in additional annual FFO to our business once completed.

      For full release see:

      https://bep.brookfield.com/press-releases/bep/brookfield-renewable-announces-strong-first-quarter-results-3

      Enphase Energy (NASDAQ: ENPH)

      Enphase Energy, Inc. is a global energy technology company and the world's leading supplier of microinverter-based solar-plus-storage systems. The Company delivers smart, easy-to-use solutions that connect solar generation, storage, and energy management on one intelligent platform. Its semiconductor-based microinverter system converts energy at the individual solar module level and brings a system-based high-technology approach to solar energy generation, storage, control, and management.

      http://investor.enphase.com/

      26 April 2022

      Enphase Energy Reports Financial Results for the First Quarter of 2022

      FREMONT, Calif., April 26, 2022 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world's leading supplier of microinverter-based solar and battery systems, announced today financial results for the first

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