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dynaCERT Announces Resignations of Directors
dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) ("dynaCERT" or the "Company") announces the resignation of Ms. Rebecca Hudson and Mr. W. Clark Kent from the Board of Directors of the Company effective immediately. dynaCERT thanks Ms. Hudson and Mr. Kent for their services on the Board of Directors.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology along with its proprietary HydraLytica™ Telematics, a means of monitoring fuel consumption and calculating GHG emissions savings designed for the tracking of possible future Carbon Credits for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, which has shown to lower carbon emissions and improve fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
Contacts
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
dynaCERT Launches into the FreightTech Industry
dynaCERT Receives Conditional Approval to Graduate to the Toronto Stock Exchange
dynaCERT Inc. (TSXV:DYA) (OTCQB:DYFSF) (FRA:DMJ) (“dynaCERT” or the “Company”) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (“TSX”) to graduate its listing from the TSX Venture Exchange (“TSXV”) to the TSX.
The Company is also pleased to report that it has closed its transactions with KarbonKleen Inc. (“KarbonKleen”) and dynaCERT International Strategic Holdings Inc. (“DISH”), as previously announced on May 11, 2020 (See Press Release dated May 11, 2020).
Jean-Pierre Colin, Executive Vice President of dynaCERT, stated, “Graduating to the TSX represents a significant milestone in our efforts to broaden our appeal to a larger shareholder base, including institutional investors, and raise the Company’s profile among the investment community. We expect this graduation to further enhance the liquidity of our stock and enable us to continue building long-term shareholder value.”
Jim Payne, dynaCERT’s President & CEO, stated, “With the approval of the KarbonKleen Transaction we can now embark on the Subscription Programme. We believe, with the success of the program, it will open the opportunity for DISH to raise debt or equity financings in a non-dilutive fashion to dynaCERT, to assist our entire global channel of dealers and to more easily roll out our HydraGEN™ Technology to end-users world-wide through a Subscription monthly payment basis.”
Final approval of the TSX listing is subject to the Company fulfilling all remaining conditions as required by the TSX, including the completion of a traditional underwritten prospectus offering with a minimum of 50 subscribers, raising a minimum gross proceeds of not less than $5 million and compliance with public distribution and all other standard listing requirements of the TSX on or before August 12, 2020. The Company expects to be able to satisfy all of such requirements prior to such time and will issue a statement once timing for completion of the final listing requirements can be estimated and a final trading date has been confirmed by the TSX.
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to completion of a $5 million financing, satisfaction of TSX listing conditions, listing on the TSX, expanding the Company’s Subscription programme and having DISH engage in future financing activities. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
For more information, please contact:
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nmassicotte@dynaCERT.com
Click here to connect with dynaCERT Inc. (TSXV:DYA; OTC:DYFSF) for an Investor Presentation.
dynaCERT Invests in the USA and Receives a Purchase Order for 3,000 HydraGEN™ Units
dynaCERT Inc. (TSXV:DYA) (OTCQB:DYFSF) (FRA:DMJ) (“dynaCERT” or the “Company”) is pleased to report that it has granted to KarbonKleen Inc. (“KK”), dynaCERT’s Preferred Service Provider, the exclusive Dealership rights in the trucking industry in the United States of America until December 31, 2024. The exclusivity granted to KK is subject to certain quotas of a minimum of 150,000 HydraGEN™ Technology Units over a little more than three years. On May 9, 2020, KK has provided the Company with a purchase order for 3,000 HydraGEN™ Technology Units as described below.
Concurrent with this transaction, KK has entered into a strategic partnership with Velociti Inc. (“Velociti”), whereby Velociti will provide installation services for KK throughout the USA and elsewhere where Velociti operates and also to provide HydraGEN™ Technology Units to Velociti’s existing clients.
The pre-existing rights and Dealer relationships that dynaCERT has in the USA continue unrestricted and dynaCERT can continue discussions to add some qualified Dealers in the USA until the latter of November 1, 2020 or the end of USA restrictions due to COVID-19. Such dealers will continue to operate unfettered by the transactions described herein and KarbonKleen’s exclusivity. Pricing of dynaCERT’s HydraGEN™ Technology in the USA is subject to dynaCERT’s proprietary USA pricing list published exclusively for its Dealers from time to time and remains applicable to KK.
dynaCERT is also pleased to report that it has established a 100%-owned subsidiary called dynaCERT International Strategic Holdings Inc. (“DISH”) to be used to support sales efforts worldwide with investments in strategically unique and exceptional CleanTech innovators directly related to dynaCERT’s business, including a subscription programme of dynaCERT’s HydraGEN™ Technology to enhance end-user adoption.
In a series of related transactions with KK, DISH has agreed to provide KK with HydraGEN™ Technology Units until December 31, 2021 in return for subscription revenue whereby KK continues to offer on a back-to-back basis a subscription programme to outfit large Canadian and USA trucking fleets with HydraGEN™ Technology. DISH will be delivering dynaCERT’s new 3,000 Unit purchase order from KK under the terms of this arrangement.
As its first investment, DISH has agreed to invest a total of US $1,092,000 in KK in a transaction whereby the Company will own, indirectly through DISH, twenty percent (20%) of KK and a Promissory Note from KK due December 31, 2021, bearing interest of 10% per annum. The purpose of this investment by DISH is to accelerate its market penetration and sales in the USA market which both dynaCERT and KK have determined is a growing priority in North America.
DISH shall have representation on the board of directors of KK for as long as DISH retains its shares of KK and DISH retains pre-emptive rights on any future financings of KK. The shareholders of KK will also enter into a shareholders agreement which provides for the manner in which shares of the Company may be voted. The Company believes that the aggregate number of shares held, or controlled or directed, by such parties represents less than 10% of the issued and outstanding shares of the Company.
Brian Semkiw, KarbonKleen’s Chairman & CEO, stated, “In the past few months, some of the largest fleets in North America have been piloting HydraGEN™ Technology. These fleets have been experiencing the benefits of the reduced emissions, increased performance and fuel savings across all users and we expect a vibrant expansion of the pilot programmes to full fleet deployment with the subsiding of the Coronavirus pandemic. This investment by DISH and our partnership with Velociti will enable us to meet the anticipated demand with the delivery and maintenance professionalism that large fleets demand.”
Jean-Pierre Colin, Executive Vice President of dynaCERT, stated, “Establishing a long term, “razor-blade” stream of recurring monthly cash flows from large fleets using dynaCERT’s HydraGEN™ Technology provides better certainty of share value. The Strategy of setting up dynaCERT International Strategic Holdings Inc. or DISH as a finance arm of dynaCERT is beneficial to potential logistics companies and truck owners who can now finance, on a monthly basis, the roll-out of their HydraGEN™ Units on their entire fleets. DISH will be able to greatly reduce the up-front capital costs to end users of our products. As a subsidiary to dynaCERT, as dynaCERT experiences future growth, DISH intends to finance sales growth in such a way that is non-dilutive to dynaCERT.”
Jim Payne, dynaCERT’s President & CEO, stated, “KarbonKleen has proved their capability of connecting and selling to the largest fleets in North America. At our recent international sales meetings in February 2020, dynaCERT invited Velociti to present their unique skills and penetrating reach in the trucking industry in the USA and we were very proud to introduce them to partner with KarbonKleen. Our three-party collaboration results in an unprecedented strategic growth business engine with favourable potential in our own backyard. I feel confident that dynaCERT has found the right solution to deliver both financing and service to our dealer’s clients with such a professional team of high calibre people. In addition to our on-going work to verify future Carbon Credits, residual monthly cash flows from subscriptions benefits our shareholders.”
The transactions described herein are subject to regulatory approval, including the approval of the TSX Venture Exchange. Closing is expected to be completed upon receipt of such approval.
About Velociti Inc.
Based in Kansas City, MO, Velociti Inc. is a global provider of technology deployment services, offering specialized installation and services of a broad range of transportation and networking technology products in 46 countries and all 50 states. Velociti’s experience allows enterprise level technology consumers to maximize ROI as a result of leveraging expert, rapid deployment. Velociti clients include many Fortune 500 companies from a wide variety of market segments including transportation, retail, distribution, manufacturing, healthcare, government, education, food service and public venues. For more information visit www.velociti.com
About KarbonKleen Inc.
KarbonKleen provides an end-to-end FreighTech solution to improve diesel efficiency and reduce carbon emissions. Through strong partnerships and innovative technology development, coupled with proprietary service, support, and training methodologies, KarbonKleen helps its clients achieve their primary business goals through the application of technology. KarbonKleen is a Preferred Systems Provider for dynaCERT and is dedicated to the proliferation of dynaCERT technology for the benefit of its customers and the planet. Website: www.karbonkleen.com
About dynaCERT Inc.
dynaCERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, reefer trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com.
READER ADVISORY
Except for statements of historical fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. In particular, forward-looking information in this press release includes, but is not limited to potential investment by DISH in cleantech innovators, potential revenue from KK subscription programme, accelerating market penetration in the USA, KK intentions to roll-out 3,000 HydraGEN™ Technology Units, exclusivity granted on the basis of future quotas and potential expansion of pilots fleets to full fleet deployment. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance of achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: uncertainty as to whether our strategies and business plans will yield the expected benefits; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology and changes in laws and regulations; the uncertainty of the emerging hydrogen economy; including the hydrogen economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
On Behalf of the Board
Murray James Payne, CEO
For more information, please contact:
Jim Payne, CEO & President
dynaCERT Inc.
#101 – 501 Alliance Avenue
Toronto, Ontario M6N 2J1
+1 (416) 766-9691 x 2
jpayne@dynaCERT.com
Investor Relations
dynaCERT Inc.
Nancy Massicotte
+1 (416) 766-9691 x 1
nancy@irprocommunications.com
Click here to connect with dynaCERT Inc. (TSXV:DYA; OTC:DYFSF) for an Investor Presentation.
dynaCERT Inc. Invites You to Join Us at the Vancouver Resource Investment Conference
dynaCERT Inc. (TSXV:DYA) would like to cordially invite you to visit us at Booth #610 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 19 – Monday January 20, 2020.
The Vancouver Resource Investment Conference has been the bellwether of the junior mining market for the last twenty-five years. It is the number one source of information for investment trends and ideas, covering all aspects of the natural resource industry.
Each year, the VRIC hosts over 60 keynote speakers, 350 exhibiting companies and 9000 investors.
Investment thought leaders and wealth influencers provide our audiences with valuable insights. C-suite company executives covering every corner of the mineral exploration sector as well as metals, oil & gas, renewable energy, media and financial services companies are available to speak one on one. This is a must-attend for investors and stakeholders in the global mining industry.
For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference.
We look forward to seeing you there.
For further information:
dynaCERT Inc.
Nancy Massicotte
604-507-3377
nancy@irprocommunications.com
www.dynacert.com
Click here to connect with dynaCERT Inc. (TSXV:DYA; OTC:DYFSF) for an Investor Presentation.
Frontier Shortlists Preferred Banks as Waroona Debt Financing Process Moves into Phase Two
Frontier Energy Limited (ASX: FHE; OTCQB: FRHYF) (Frontier or the Company) is pleased to provide an update on the Company’s funding strategy for the Stage One development of its Waroona Renewable Energy Project (Waroona Project).
HIGHLIGHTS
- Frontier has commenced Phase Two of the debt financing process, shortlisting preferred banks ahead of additional due diligence to enable submission of binding, credit approved terms
- The Company anticipates credit approved terms to be provided during the next 8 to 12 weeks, assuming successful completion of due diligence
- Phase One of the Debt Financing Process generated strong interest from Australian and international banks, confirming:
- Interest in providing senior debt financing which aligns with the Definitive Feasibility Study (DFS) assumptions1
- Acceptance of the selected original equipment manufacturers
- Key due diligence requirements and the proposed third-party service providers to undertake the work to meet those requirements
- Ability of potential financiers to meet the proposed timetable
- The DFS set out the maximum debt carrying capacity and included assumptions regarding amortisation periods and interest rates
- Targeted maximum debt carrying capacity in the DFS was between 65% to 70%, which equates to a debt facility of $200 million to $225 million
- The strategic equity investor process is ongoing, with NDAs in place with a number of Australian and international groups
CEO Adam Kiley commented: “Key to the initial phase of the debt financing process was confirmation of our major funding assumptions, which assumed gearing levels of between 65% to 70%, equating to between $200 million and $225 million, equipment selection, due diligence requirements and the funding timetable.
Confirmation of these key assumptions in such a short time frame is testament to the key attributes of the Waroona Project being well understood by financiers, predominately due to its simplicity and its executability as well the strong returns it delivers.
We have now moved into the second phase of the debt financing process and will be working closely with shortlisted banks towards credit approved terms and complete due diligence requirements in a timely manner.”
Shortlisting banks for debt financing
Following the release of the DFS for Stage One of the Waroona Project in late February, the Company commenced the Debt Financing Process to assist in meeting the funding required for development at the Waroona Project. Image 1 below provides an outline of the key outcomes and indicative timing for each phase of the process.
Image 1: Waroona Project – Debt Financing Process and indicative timing
As highlighted above, Phase One of the Debt Financing Process involved the Company’s debt advisor, Leeuwin Capital Partners, seeking expressions of interest from financial institutions to participate in the Debt Process.
Click here for the full ASX Release
This article includes content from Frontier Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Procurement and EPC Contract Nearing Conclusion as Peak Energy Prices Hit Record Highs
Frontier Energy Limited (ASX: FHE; OTCQB: FRHYF) (Frontier or the Company) is pleased to provide an update regarding the procurement of key long lead items as well as advancing towards selecting an engineering, procurement and construction (EPC) contractor as part of the Company’s Waroona Renewable Energy Project (Project), located 120km south-west of Perth in Western Australia.
HIGHLIGHTS
- Procurement of key long lead items including battery, photovoltaic panels and inverters has advanced with final equipment selection and contract negotiations to be concluded during the current June quarter
- Capital cost estimates for long lead items have been in-line with, or lower than, the estimates outlined in the Definitive Feasibility Study (DFS)1
- Only tier one global suppliers have been included in the procurement process
- No delay in the delivery of key long lead items has been identified through the procurement process
- Expressions of interest by a number of highly regarded EPC contractors have been received
- Shortlisting of preferred parties will commence in the coming weeks
- A significant increase in peak energy prices (4pm – 9pm) occurred during the March quarter, increasing by 65% to $172/MWh compared to the previous year
- Western Australia peak demand reached a new record of 4.23GW in February 2024, and exceeded the record peak six times during the March quarter
- The Company’s strategy of storing solar energy generated during low price periods in the morning through to midday and dispatching this energy during the afternoon / evening peak, is aligned with a more volatile market
CEO Adam Kiley commented: “A key risk for any project is an escalation in capital costs through the procurement process. It’s pleasing that cost estimates for all major long lead items have either been in line with expectations or, in most cases, actually fallen.
Only tier one suppliers have been invited to tender. Good quality equipment supplied by reputable suppliers helps us ensure the facility will start-up and operate as expected and importantly will be reliable.
In addition, the Company is also quickly progressing our funding strategy, as both the debt financing and the potential strategic divestment process well advanced. The Company will provide a more detailed update regarding both processes in the coming weeks.”
Procurement process for key long lead items indicates a fall in estimated capital costs
As part of the financing process a key requirement is to ensure a high level of certainty with capital cost estimates. The Company can ensure this by locking in prices for key long lead items with reputable providers. This will ensure minimal risk / price movement in total capital cost estimates, while also ensuring only high-quality equipment is supplied.
The Company therefore issued a request for tender for solar panels, battery energy storage system and inverters, to a select number of trusted global providers. The combined cost of this equipment accounts for ~50% of the total project capex.
The Company has received proposals from the tender process, including updated pricing. All pricing from suppliers has either been in line with or lower than capital cost estimates in the DFS. In addition, all suppliers have indicated they can supply equipment within the specified schedule.
The Company anticipates finalising this procurement process in the coming months.
EPC process advancing towards shortlisting of preferred parties
For the development of Stage One, the EPC contractor will be responsible for integrating key equipment and delivering a complete and operable facility that will be required to pass a performance test prior to handover. Frontier will be responsible for the purchase of the equipment to be supplied to the EPC contractor.
An expression of interest process was used to identify potential EPC contractors. The Company received strong interest from multiple highly regarded and experienced contractors that have a history of developing and delivering industrial scale solar farms and other renewable energy assets.
The Company is currently assessing these proposals to ensure they have the appropriate experience, safety record, and balance sheet to execute the works.
Following this process, the Company plans to issue the tender documents to the pre-qualified contractors, receive and evaluate the submissions. The Company aims to have the EPC contract ready for execution by mid-2024.
This article includes content from Frontier Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Adam Rozencwajg: Will EVs Succeed? Efficiency, Emissions and a Potential Catalyst
Electric vehicles (EVs) have been widely hailed as a key part of the green energy transition, but are they helping as much as we think they are? Adam Rozencwajg, managing partner at Goehring & Rozencwajg, weighed in.
In a conversation with the Investing News Network, he spoke about the energy efficiency and carbon emissions of EVs, explaining how they stack up against traditional internal combustion engine (ICE) vehicles.
On the energy efficiency side, Rozencwajg said EVs are typically viewed as having 90 percent efficiency — in other words, once electrons are in the battery of a car, 90 percent of that energy is translated into the wheels to move the car.
That's compared to 30 percent for ICE vehicles, where a significant amount of energy dissipates in the form of heat.
Rozencwajg noted that EVs look great in that scenario, but described it as a faulty comparison because it doesn't account for how the electrons get into the battery in the first place, or how they are kept there.
"That of course deals with the battery, and it deals with the idea of how much energy is required to mine all the materials, process all the materials — the lithium, the cobalt, the nickel, the copper — and then to assemble and manufacture the battery, which is also incredibly energy intensive," he said.
"When we put it all together, there was really very little doubt in our minds that the total energy — we're talking cradle to grave — of an EV was far greater than an internal combustion engine," Rozencwajg added.
Looking at carbon emissions, Rozencwajg pointed to Norway as a real-world example. EVs have accounted for 80 percent of the country's new car sales in the last 15 years, but its carbon emissions have only fallen 10 to 15 percent.
"The devil's in the details. And what Norway has been very, very good at doing over the last 10 or 15 years is switching out a tremendous amount of fuel oil and residual fuel used mainly for heating, and some power as well, away from hydrocarbons towards electric and towards hydro. So that actually explains two-thirds or three-quarters — some huge number — of the reduction in CO2 in Norway over the last 15 years," he explained during the interview.
Continuing, Rozencwajg said Norway's gasoline and oil demand hasn't moved during that time.
"On the other hand, you've had to put 500,000 EVs on the road in Norway, and that's created a huge amount of CO2 because of all the energy that goes into making the battery ... and still today most EVs and most EV batteries are manufactured in China, where the majority of that power comes from coal, which is actually quite dirty," he said.
Watch the interview above for more detailed thoughts from Rozencwajg on these concepts.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Chevron, ExxonMobil and BP Flagged as Major Global CO2 Emitters
A new report produced by InfluenceMap sheds light on the environmental impact of the world's largest oil, gas, coal and cement producers, quantifying their contributions to global fossil fuel emissions.
It focuses on 122 industrial producers, tracing their cumulative historical emissions from 1854 through 2022.
The document shows that since the Industrial Revolution, over 70 percent of carbon dioxide (CO2) emissions from the fossil fuel and cement sectors can be attributed to 78 of those companies.
“The Carbon Majors database is a key tool in attributing responsibility for climate change to the fossil fuel producers with the most significant role in driving global CO2 emissions,” said InfluenceMap Program Manager Daan Van Acker.
Among the entities analyzed in the report, investor-owned companies accounted for 31 percent of all emissions, with notable contributors including Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM) and BP (LSE:BP).
State-owned companies, on the other hand, were linked to 33 percent of the total emissions, with entities like Saudi Aramco (TADAWUL:2222) and Gazprom (MCX:GAZP) fronting the list. Nation states accounted for the remaining 36 percent of emissions, with China's coal production and the former Soviet Union being significant contributors.
The report also highlights a concerning trend observed following the adoption of the Paris Agreement.
Despite global efforts to curb emissions, most state- and investor-owned companies have expanded their operations since the agreement was adopted in 2015, with Asia and the Middle East seeing the biggest increases.
Aside from unveiling a need for enhanced regulatory measures and corporate accountability to address these escalating emissions, Van Acker believes the results of the report can do more to foster transparency and accountability.
"It can be used in a variety of cases, ranging from legal processes seeking to hold these producers to account for climate damages, or it can be used by academics in quantifying their contributions, or by campaign groups, or even by investors," he told Reuters. The publication notes that a previous version of the report was used to do just that.
Just last month, a Belgian farmer brought a case against French oil and gas company TotalEnergies (NYSE:TTE), arguing that the company's significant CO2 emissions contributed to damage to his operations from extreme weather events.
Mining industry gearing up for a low-carbon future
Despite InfluenceMap's findings on emissions from oil, gas and coal companies, there are ongoing initiatives aimed at addressing their environmental impact and fostering sustainability within the industry.
One such initiative is the Towards Sustainable Mining (TSM) program, a globally recognized framework designed to support mining companies in managing key environmental and social risks.
This program mandates site-level assessments with external verification and emphasizes accountability, transparency and credibility in evaluating mining operations. TSM evaluates eight critical aspects of social and environmental performance against 30 distinct indicators, promoting principles such as accountability, transparency and credibility.
At the country level, the Mining Association of Canada (MAC) and its members have undertaken various initiatives to reduce emissions and combat climate change. These efforts are in line with MAC's support for climate action consistent with the Paris Agreement's goal of limiting global warming to well below 2 degrees Celsius above pre-industrial levels.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Emergent Waste Solutions CEO Says Making Waste Management Profitable Key to Sustainability
Emergent Waste Solutions is resolved to make the solutions to the global waste disposal challenge economically sustainable and profitable, according to the company's CEO, Kevin Hull.
“We determined that if we're going to make an impact in this world, we've got to make being profitable, economically sustainable, a part of the equation as well,” he said. "And that's where we're unique in the whole field of environmental technologies."
Emergent’s ATS Technology uses thermal decomposition, or thermolysis, technology to break waste down at the molecular level using high temperatures with an absence of oxygen, combustion and fire. The process results in biochar, bio gas and bio oil, which are kept separate by the technology and all have value. For example, the biochar can then be used to create carbon-based products such as activated carbon, carbon black, grow mediums and bio coal, with multiple revenue streams and environmental benefits.
“Our uniqueness is that we're not dependent on one thing … We are a company that has the ability to ride through changes in markets and come out still intact with a revenue stream,” Hull said.
“We have a very solid value proposition in that we have both a waste management side to the company where we can derive revenues for accepting waste. And then we also have a sales side, whereby we'd manufacture a commodity. Now that represents a revenue stream as well. Thirdly, because of the contribution we're making environmentally, we also have a revenue stream from the sale of carbon credits."
Hull said Emergent looks forward to being a publicly traded company by Q3 2024. The company also plans to bring the current plant into full production this year. Hull is also optimistic to have at least one or two plants commissioned and the manufacturing process underway by the end of 2024 as well.
Watch the full interview with Emergent Waste Solutions CEO Kevin Hull above.
Disclaimer: This interview is sponsored by Emergent Waste Solutions. This interview provides information which was sourced by the Investing News Network (INN) and approved by Emergent Waste Solutions in order to help investors learn more about the company. Emergent Waste Solutions is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Emergent Waste Solutions and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
NEO Battery Materials
Overview
NEO Battery Materials Ltd. (TSXV:NBM; OTCQB: NBMFF) is a Canada-based battery technology company focused on developing silicon anode material for lithium-ion batteries used in electric vehicles (EV), electronics and energy storage systems.The company’s patented silicon anode technology, called NBMSiDE®, utilizes an energy-efficient, one-step nano coating process to i) enable ultra-fast charging, ii) increase EV driving range by greater than 20 percent, and iii) manufacture more than 70 percent cheaper compared to competitors. NBMSiDE® coats strong, durable nanomaterials on the surface of the silicon particles to effectively resolve silicon’s volume expansion problem, enabling reliability and high performance in EV lithium-ion batteries.
Why Silicon and Global Market Growth
EV batteries are composed of four major parts – cathode, anode, separator and electrolyte. Highly discussed battery metals like lithium, cobalt, nickel and manganese are synthesized to form the cathode material. On the anode side, graphite has long been the go-to material since the commercialization of lithium-ion batteries, but major issues, especially with respect to low capacity and slow charging, are impeding the growth of EV adoption globally.
Silicon is recognized as the solely available material to resolve graphite’s deficiencies, offering the allure of high capacity and faster charging times. Given the urgency to integrate silicon as a critical component in EV batteries, the global silicon anode market is expected to grow rapidly from around US$0.4 billion in 2022 to US$28.7 billion in 2032, representing a compound annual growth rate of 54 percent. However, for all its advantages, silicon has its own set of challenges.
During the charge and discharge cycle, silicon tends to expand more than 300 percent in volume, and stabilizing the material has been a significant challenge to the industry. Conventional approaches to mitigate the volume expansion problem of silicon anodes are expensive and unscalable due to energy-intensive processes and high-cost input feedstocks. Most of the companies using silicon anode rely on costly manufacturing processes to circumvent the issue, resulting in a price point that is approximately eight times (US$80 per kilogram) more expensive than graphite anode (US$10 per kg).
Company Highlights
- NEO Battery Materials is a Canada-based battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles (EV), electronics and energy storage systems.
- The company’s patented technology, called NBMSiDE®, offers cost-effective, longer-running and ultra-fast-charging batteries compared to existing state-of-the-art graphite anode materials. NBM is aiming to achieve the 1,000-mile battery for EVs using its silicon anode materials.
- NBM is positioning itself as a low-cost, high-performance silicon anode material supplier for EV lithium-ion batteries. NBM’s ability to manufacture silicon anode materials economically and efficiently is a vital point of differentiation from existing competitors.
- NEO Battery Materials has signed more than 60 NDAs with global-tier companies, including battery cell manufacturers, EV automakers, electronics manufacturers and high-profile battery supply chain companies. With these parties, NBM is conducting more than 20 active material evaluations to strike milestone joint development, collaboration and offtake agreements.
- The company is planning to construct commercial plants both in Canada and South Korea to manufacture NBMSiDE®. Further, NBM is aiming to build additional plants in the U.S. and Europe to establish itself as a global top 10 silicon anode supplier in the EV battery industry.
Key Technology: NBMSiDE®
NBM claims its patented silicon anode technology, called NBMSiDE®, could manage and resolve the volume expansion problem by coating the silicon particles with mechanically durable nanomaterials such as elastic polymers and carbon nanotubes. There are currently eight patents issued and pending for this technology across various jurisdictions.
NBM’s proprietary one-step process enables substantially lower production costs than other silicon anode materials. NBM simultaneously mixes and nanocoats the silicon precursor, additives and nano coating materials to manufacture the final product. Unlike competitors that manufacture in multi-steps at high temperatures of >1,500 degrees Celsius and/or in vacuum systems, NBMSiDE® is produced at room temperature and pressure, realizing significant energy savings and reducing carbon emissions. NBM’s ability to economically manufacture silicon anode materials is a vital point of differentiation from existing companies.
NEO Battery Materials’ innovative NBMSiDE® places the company in an ideal position to leverage this exponential market growth, led by a management team with a proven track record in the global battery industry.NBMSiDE® is paving the way for cost-effective, longer-running and ultra-fast-charging batteries, which can drive down the EV costs and ultimately increase EV adoption. The company aims to achieve the 1,000-mile battery for EVs using its silicon anode materials.
NBM has further optimized its one-step process to achieve consistent, uniform nano coating capabilities – a key factor for high performance and quality control. Uniform nano coating layers reinforced silicon’s structural durability, demonstrating over a 70 percent increase in battery cycle life improvement. NBMSiDE® also retains more than 70 percent higher initial battery capacity (measured in mAh/g) compared to competitors and has realized 5-minute ultra-fast charging in tests.
Successful development and key benefits of NBMSiDE® has caught the interest of downstream users. Having signed more than 60 non-disclosure agreements, which include global battery cell manufacturers and EV automakers, NBM is prioritizing to ink multiple milestone agreements such as joint developments, collaborations and offtakes. To date, the company is conducting more than 20 active material evaluations with global NDA parties to attain such value-creating milestones.Due to technological breakthroughs, downstream customers’ demand for NBMSiDE® has experienced an uptick. To alleviate bottlenecks and order backlogs, NBM is relocating to an expansion facility with larger manufacturing and testing equipment. The company plans to hire additional research engineers to increase the overall R&D productivity for commercialization.
Commercialization will be achieved through constructing mass production plants in Canada and South Korea. With an initial capacity of 240 tons per year, the final plant capacity is estimated to reach 5,000 tons per year. Subsequently, NBM aims to extend its global presence by establishing additional commercial plants in the U.S. and Europe through joint ventures.
With the initial capacity, NBM anticipates an initial revenue of US$12 million representing a supply capacity for 80,000 to 160,000 EVs. At full capacity, revenue generation could increase to US$250 million. NBM plans to build at least three commercial plants by 2030, giving it a capacity of 15,000 tons per year to position itself as a global top 10 silicon anode supplier.
Management Team
Spencer Huh – Director, President and CEO
Spencer Huh has more than 25 years of financial and operational experience in Canada and Korea, with expertise in financial operations, strategy, performance management, and business planning. In the early part of his career, he worked as an investment advisor with large companies such as Hanwha Securities, TD Canada Trust, and BMO Nesbitt Burns. Since 2012, Huh has worked with numerous private and publicly listed companies in Korea and Canada, including mining, medical device, and high-tech companies. He has played an integral role in the establishment, acquisition, and financing for these companies.
S. R. Hwang – Director, Chief Operating Officer and SVP
S. R. Hwang has over 30 years of experience working for Samsung SDI (sixth largest global battery manufacturer), serving as the executive director, chief of purchasing and advisor until 2018. His responsibilities included managing the supply chain, procurement planning and advanced business development. During his time with Samsung SDI, Hwang accumulated a vast network and information pipeline within the lithium-ion battery industry. He has a deep understanding of business development and trade capabilities, as well as specialized knowledge in raw materials, such as cobalt, nickel, and aluminum.
Dr. S. G. Kim – Chief Technology Officer
Dr. S. G. Kim served as the executive vice-president and head of R&D of Hanwha Solutions’ Advanced Materials Division, a multibillion-dollar South Korean conglomerate. Kim led Hanwha Solutions to nearly double new product sales and expand the core technology portfolio by leading several value-added projects for global automotive, aerospace and electronics companies. Prior to joining Hanwha Solutions, Kim held tenure as the global R&D leader at Momentive Performance Materials, the second-largest global manufacturer of silicon-based products. Kim received his Ph.D. in chemical engineering and applied chemistry from the University of Toronto, Canada. He has published high-impact journals in the field of polymers and nanocomposites, and retains 15 patents related to polymers, coatings and silicon-based materials.
Dr. J. H. Woo – Chief Science Officer
Dr. J. H. Woo has worked as a scientific research engineer at General Motors Global R&D Centre, researching nanostructured silicon anode materials with artificial solid electrolyte interphase (SEI), lithium-ion battery performance optimization, and electrode material synthesis. His research expertise focuses on the synthesis of silicon anode materials for high-energy batteries in long-range EVs and on interfacial engineering for sulfide-based all-solid-state batteries (ASSB). Receiving his Ph.D. in mechanical engineering at the University of Colorado Boulder, Woo has published influential literature in international journals, such as in Advanced Materials, that advanced the field of silicon anodes and ASSBs. His high-impact research has led to a major battery materials NASDAQ-listed company licensing Woo’s patent related to ASSBs.
Dr. Dongmok Whang – Director
Dr. Dongmok Whang is a distinguished scholar specializing in various advanced functional nanomaterials with wide-ranging applications, including high-energy-density electrode materials and solid-state electrolytes for secondary rechargeable batteries. With a prolific academic portfolio, he has published around 200 scholarly papers and over 80 patents. His influential research has garnered over 15,000 citations, underscoring the significant impact of his work on the field. He is a professor at the School of Advanced Materials Science & Engineering and Advanced Institute of Nanotechnology at Sungkyunkwan University. Wang's research expertise lies in the field of fabrication and manufacturing of low-dimensional nanomaterials, especially graphene, semiconductor nanowires, and porous nanostructures for applications in EV lithium-ion batteries, fuel cells and various energy storage applications. Whang owns more than 50 patents of which two-thirds are co-owned with Samsung Electronics. He received his Ph.D. in chemistry from Pohang University of Science and Technology (POSTECH) in 1997, and prior to joining SKKU, he was a senior research fellow at Harvard University.
This article was written in collaboration with Couloir Capital Ltd.
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