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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.
Nano One Materials
Overview
Nano One Materials (TSX:NANO,FWB:LBMB,OTC:NNOMF) is a clean technology company with a patented process for the low-cost production of high-performance cathode materials used in lithium-ion batteries. The company aims to establish its technology as the leading platform for the global production of green battery materials through licensing and joint venture agreements. The company is led by a highly experienced management team with decades of experience in financing, capital growth, technology management, metals and mining, and the sciences.Lithium-ion batteries have a wide range of valuable applications in the green economy, including in electric vehicles, energy storage systems and consumer electronics. North American companies with a domestic supply chain and local processing capabilities for raw materials needed for the green economy may present an exciting opportunity for investors.
Coated Single Crystal Cathode Materials Explained
https://www.youtube.com/watch?v=Z73dTNTkgpA
Nano One's patented One-Pot Process is a proven, efficient and scalable manufacturing technology for producing cathode materials used in advanced lithium-ion batteries. The One-Pot Process streamlines the production process which significantly reduces costs and increases battery performance and durability compared to the standard manufacturing process. The company's M2CAM (metal direct to cathode active material) technology allows cathode materials to be made directly from metals rather than sulphates. This reduces steps, waste and costs from the supply chain while increasing margins allowing a more efficient and sustainable process.
Nano One’s M2CAM technology is environmentally sustainable as it produces less greenhouse gas, no waste, uses flexible feedstock, uses less energy and uses 60 percent less water than the standard processing method. The material that is produced also costs four4 to five5 times less to ship due to the lighter weight of around five5 times less than the standard material. This results in potential savings of thousands of dollars per tonne and higher margins.
https://www.youtube.com/watch?v=eBE2x5mZL6A
The One-Pot Process has 27 patents issued in the US, Canada, Japan, Korea, China and Taiwan and more than 55 patents currently pending. Nano One has built a demonstration pilot plant that proves scalability and provides Nano One with the ability to make volumes of materials to engage in larger testing programs with strategic partners.
Nano One has established partnerships with multiple global industry leaders like Volkswagen AG (ETR:VOW3); Rio Tinto (ASX:RIO); BASF (ETR:BAS); Companhia Brasileira de Metalurgia e Mineração (CBMM), a world leader in the production and commercialization of Niobium products; Euro Manganese Inc. (TSXV:EMN), a battery materials company focused on advancing the development of the Chvaletice Manganese Project.
Nano One also received aggregate funding of approximately $23 million from several Canadian Government groups such as Sustainable Development Technology Canada, Innovation Clean Energy Fund of British Columbia, IRAP and ASIP.
In 2022, Nano One and Euro Manganese Inc. successfully demonstrated the production of cathode materials made directly from Euro Manganese’s electrolytic manganese metal using Nano One's One-Pot process. Euro Manganese's Chvaletice Manganese Project has been successfully validated as feedstock for Nano One's patented One-Pot and M2CAM cathode production technologies, essential in lowering the cost, complexity and environmental footprint of using metal sulphates in cathode production.
The company also announced the transformation of the Candiac lithium iron phosphate (LFP) facility to the One-Pot process, following the completion of the acquisition announced on November 1, 2022. The company will be commencing One-Pot trials to provide the company with valuable insights for the next stage of trials, pilot production and advanced engineering.
Sustainable Development Technology Canada (SDTC) awarded Nano One with $10 million in non-dilutive support to help fast-track and convert North America's only LFP plant to pilot the One-Pot Process. The funding also allows the company to leverage the high-quality acquisition of LFP plant and amplifies expansion plans and accelerate strategic growth and offtake opportunities with consortium partners Rio Tinto, Lithion Battery Inc., and undisclosed auto OEM.
Company Highlights
- The company has more than 20 strategic partnerships and collaborations with multiple global leaders to advance its cathode technology for e-mobility and energy storage system applications, including:
- Nano One's patented One-Pot Process is a proven, efficient and scalable manufacturing technology for producing cathode materials used in lithium-ion batteries.
- Nano One's M2CAM (metal direct to cathode active material) technology addresses fundamental performance needs and supply chain constraints while reducing costs and carbon footprint, enabling a cleaner, more sustainable supply chain.
- Highly experienced management team with expertise in financing, capital growth, technology management, intellectual and the sciences.
- Strategic partnership with Rio Tinto for a US$10-million investment to fund and accelerate Nano One's multi-cathode (multi-CAM) commercialization strategy.
- Acquired Johnson Matthey Battery Materials, the only producing lithium ferrophosphate (LFP) cathode materials facility in North America, for approximately C$10.25 million, which is
- Joint development agreement with Badische Anilin und Sodafabrik (BASF) to co-develop a process with reduced by-products for commercial production of next-generation cathode active materials.
- Joint development agreement with Umicore to leverage their respective technologies and know-how to further increase the throughput rate while reducing the costs and environmental footprint of CAM production.
- The company has received approximately C$23 million in contributions from Sustainable Development Technology Canada and the British Columbia Innovative Clean Energy fund and other government programs in advancing the company's technology towards commercialization.
- Nano One has 27 patents in the US, Canada, Japan, Korea, China, and Taiwan and more than 55 are still pending
- The company was awarded $10 million in non-dilutive support from Sustainable Development Technology Canada (SDTC) to help fast track and convert North America's only LFP plant to pilot One-Pot Process.
Nano One’s Technology
One-Pot Process
Nano One's One-Pot Process streamlines the production process, which significantly reduces waste, costs and increases performance compared to the standard manufacturing process. The process improves battery capacity, charge and cycling.
The standard polycrystalline manufacturing process involves clusters of crystals that break apart from the stress of repeating charging which fractures the protective coating. This exposes the inner crystals to side reactions that reduce range, life, and charge.
Nano One's One-Pot Process produces individually coated single nanocrystal cathodes that form in one step and resist fractures. This results in better battery durability and performance which will allow a battery to last longer and go further. Comprehensive engineering studies are underway to define the optimal throughput of one commercial line and determine how many lines can be placed on the land next door to the existing Candiac plant. The One-Pot Process creates a material that can be fired in the kiln in hours, instead of days like the conventional process, saving energy and steps.Stephen Campbell, PhD, CSci, CChem, MRSC, CTO - Nano One
Management Team
Dan Blondal - CEO, Director and Founder
Dan Blondal has more than 30 years of experience as a professional engineer. During his career, he has managed high-growth technology and been involved in materials handling, medical devices, industrial printing, nuclear fusion and materials science. Blondal brings significant experience in systems engineering, physics and business. Blondal was the product and technology manager at Creo and Kodak where he led strategically vital initiatives. These initiatives were valued at $20 million annually to leverage software, laser and chemical systems for high-quality printing.
Dr. Stephen Campbell - Chief Technology Officer
Dr. Stephen Campbell has more than 25 years of experience leading industrial automotive research in electrochemical systems. Campbell served seven years as principal scientist at Automotive Fuel Cell Cooperation Corp. Campbell also held key roles at Ballard Power Systems as principal scientist and senior scientist between 1994 and 2008. Campbell has more than 20 patents to his name and has 20 years of hands-on experience in industrial research developing new technologies through to series production for the automotive sector. He received his Ph.D. in semiconductor electrochemistry from the University of Southampton in 1987 and completed his BSc (Hons.) 1st class in physical sciences at Coventry Polytechnic in 1984.
Denis Geoffroy - Chief Commercialization Officer
Denis Geoffroy is an executive with more than 25 years of experience in the field of lithium batteries. He obtained his bachelor’s and master’s degrees in chemical engineering from Laval University and then joined Argo-Tech Productions, a subsidiary of Hydro-Québec responsible for developing Lithium-Polymer batteries, the first commercial version of solid-state lithium batteries. He then participated in the start-up of the LiFePO4 cathode material (LFP) industry at Phostech Lithium, where he worked for 17 years as technical director, chief operating officer or general manager, under various entities (Phostech Lithium, Sud-Chemie, Clariant and Johnson Matthey). It was under his leadership that the Candiac plant, LFP’s only commercial plant in America, was built. Geoffroy moved in 2019 to support Lithion Recycling in its start-up and he started supporting Nano One in its commercialization efforts since 2021 and became chief commercialization officer with the company on November 1st, 2022
Alex Holmes - Chief Operating Officer
Alex Holmes has spent more than 15 years as a senior executive with several public companies. Most recently, he served as the CEO of Plateau Energy Metals, which is a public company advancing a world-class hard rock lithium project in tandem with a uranium asset in Peru. Prior to this, Holmes co-founded a technology start-up where he led it from prototype to commercialization in a short period. He was also a partner and co-founder of Oxygen Capital Corp. where he led the business development for all affiliated companies. Holmes graduated with distinction from The Business School at the City University of London with an M.Sc. in investment management.
Adam Johnson - Senior Vice-president External Affairs
Adam Johnson brings over 20 years of experience advising corporate and government leaders. Over his career, he has worked on public policy, government relations and communications for some of Canada’s leading energy, infrastructure and transportation companies as well as key associations. He has helped with large development projects, secured the support of governments and implemented effective community engagement.
Before joining Nano One, he was a senior partner at Earnscliffe Strategies–one of Canada’s leading strategic communications and government relations firms. Johnson has worked in the Government of Canada, serving as a director of Parliamentary Affairs to a Minister of Industry. Selected by his peers, he served as the founding president of the Public Affairs Association of Canada – BC (PAAC-BC)
Paul Guedes - Director, Capital Markets
Paul Guedes has more than 20 years of experience as an entrepreneur, fund manager and senior executive with several public companies. He was president of a family-owned construction company for over 10 years before moving to the public markets. Guedes' key focus over the last 14 years has been centered around renewable energy and climate change in industries like wind energy, wave energy, biofuels, hydrogen and carbon credits. Guedes received his Bachelor of Commerce from the Michael DeGroote School of Business at McMaster University.
Paul Matysek - Chairman and Director
Paul Matysek is a serial entrepreneur, geochemist and geologist with over 40 years of experience in the mining industry. Since 2004, Matysek has been either a CEO or chairman. He has primarily focused on the exploration, development and sale of five publicly listed companies with an aggregate worth of over $2 billion. Most recently, he was an executive chairman of Lithium X Energy Corp. which was sold to Nextview New Energy Lion Hong Kong Limited ("Nextview") for $265 million in cash. He was awarded EY Entrepreneur of the Year for Mining & Resources in September 2018.
Dr. Joseph Guy - Director
Dr. Joseph Guy is the president of Patent Filing Specialist Inc. and a patent agent focusing on complex technologies including material science, electronic components, pharmaceuticals and medical products. He has more than 23 years of experience prosecuting patents and serving as an expert witness on intellectual property matters. Guy was awarded a PhD. in chemistry from the University of Wisconsin-Milwaukee in physical inorganic chemistry with a focus on organometallic complexes. Guy has authored numerous references in peer-reviewed journals. He has written and prosecuted over 1,000 U.S. and foreign patent applications with more than 300 issued US patents and numerous foreign patents.
Lyle Brown - Director and Audit Committee Chair
Lyle Brown is a CPA and CA and holds a Bachelor of Commerce from the University of British Columbia. Brown has been a partner at Culver & Co. in Vancouver, British Columbia since 1991. Culver & Co. is an accounting firm that serves clients in a wide range of industries. Brown is familiar with the reporting requirements of public companies. He has served on numerous boards of directors for both private and public companies.
Gord Kukec - Lead Director
Gord Kukec works with senior management to develop and implement commercial strategies as well as annual business plans. He has more than 30 years of experience in senior executive roles. Kukec's responsibilities included innovating and adapting commercial and IT strategies at various international Canadian corporations. Since 2010, Kukec has been an independent advisor, consultant and board member. Kukec has focused on how emerging environmental and information technology developments, such as climate change and cybersecurity, impact business transformation, corporate strategy and board governance. He currently sits on the board of BC Ferry Services Inc. and Solshare Energy Corp. He holds a BA in economics from the University of Calgary and an MBA from Queen's University. Kukec is certified in Governance of Enterprise Information Technology from ISACA (CGEIT) and is a holder of the Institute of Corporate Directors Director designation (ICD.D).
Carla Matheson - Independent Director
Carla Matheson is a chartered professional accountant (CPA, CA) with over ten years of experience in a variety of industries, specializing in business development, mergers and acquisitions and financial reporting. Throughout her career on both the buy and sell sides, Matheson has provided dynamic solutions on all aspects of finance, accounting and business-related issues for both public and private companies, having closed 30+ majority acquisitions, 50+ minority/venture type transactions, raised over $150 million in capital via both debt and equity markets and deployed over $60 million in capital.
Lisa Skakun - Independent Director
Lisa Skakun is a lawyer and executive with over 20 years of experience in a variety of private and public industries. Currently the chief legal, regulatory and corporate affairs officer of Coast Capital Savings Federal Credit Union, Skakun is responsible for all legal, mergers and acquisitions, public affairs, compliance, financial crimes risk management and corporate governance functions. Prior to Coast Capital Savings, she was the chief legal & administrative officer at Mogo Finance Technology, a TSX-listed fintech company, from 2015-2018. Skakun has her LLB from the University of British Columbia, a Master of Laws degree in business law from Osgoode Hall Law School at York University, and also holds her ICD.D designation from the Institute of Corporate Directors. She is the recipient of the Lexpert Zenith Award: Celebrating Women in Law; the Association of Women in Finance's PEAK award for Rising Star; the National Post Award for Tomorrow's Leader at the Western Canada General Counsel Awards; and has been named to Canada's Diversity 50 list by the Canadian Board Diversity Council.
Dr. Yuan Gao - Strategic Advisor
Dr. Yuan Gao is an accomplished executive with a strong technical background and a successful track record in leading and growing businesses throughout the lithium-ion battery supply chain. Gao is also an internationally recognized expert in lithium-ion battery materials with over a hundred patents issued around the world, dozens of journal publications and his innovations are at the core of today's lithium-ion batteries. He has joined Nano One Advisory Committee members, Joe Lowry, Robert Morris and Dr. Byron Gates.
Gao is the vice-chairman of the board of Pulead Technology, a respected producer of cathodes for lithium-ion batteries, having served as president and CEO from May 2014 to Sept 2019. Gao completed a PhD in physics from the University of British Columbia and did post-doctoral research on lithium metal oxides at Simon Fraser University. He has also completed an executive education program at The Wharton School of the University of Pennsylvania.
Frank Fannon - Strategic Advisor
In May 2018, Frank Fannon was unanimously confirmed by the United States Senate to serve as the inaugural assistant secretary of State for Energy Resources, a position he held until January 2021. As "America's Energy Diplomat," he led whole-of-government initiatives in the Indo-Pacific, the Americas, Europe, the Eastern Mediterranean, and Middle East to advance free, open markets, and resilient responsible supply chains. Fannon also established the multi-country Energy Resources Governance Initiative to share global mining best practices and improve governance.
Fannon is currently the managing director of Fannon Global Advisors, a strategic advisory focused on geopolitics, the energy transition, and market transformation. He is also a non-resident senior advisor at the Center for Strategic & International Studies, a non-resident senior fellow at the Atlantic Council, and a visiting senior fellow at the Center for Technology Diplomacy at Purdue.
Solar Energy Stocks: 6 Biggest US Companies in 2023
As the Biden administration pushes to tackle climate change in America, the top US solar energy stocks offer opportunities for investors looking to enter the clean energy sector.
According to the latest report from the Solar Energy Industries Association and Wood Mackenzie, during 2022, solar accounted for 50 percent of new electricity-generating power, and the US market installed 20.2 gigawatts (GW) of solar capacity during that period. Residential solar installations totaled 6 GW of direct current, up 40 percent over the previous year.
Over the next decade, the firms forecast that the solar industry will continue to break annual installation records. From 2022 to 2033, they expect total solar deployment to grow from 141 GW of direct current to 700 GW of direct current.
Following US President Joe Biden's mid-2022 executive action geared at spurring clean energy manufacturing in the country, the Solar Energy Industries Association released the following statement:
“We applaud President Biden’s thoughtful approach to addressing the current crisis of the paralyzed solar supply chain. The president is providing improved business certainty today while harnessing the power of the Defense Production Act for tomorrow. Today’s actions protect existing solar jobs, will lead to increased employment in the solar industry and foster a robust solar manufacturing base here at home."
What are the top US solar energy stocks?
Upside potential in the US solar energy market really came to light with SunRun’s (NASDAQ:RUN) US$3.2 billion all-stock acquisition of Vivint Solar in 2020. This trend continued on a worldwide scale the next year, with Solar Industry Magazine reporting that in 2021, there were 58 solar corporate deals, the most in a year since 2010. Total global corporate funding, including venture capital and M&A deals, reached US$27.8 billion for the year, up 91 percent over 2020.
In 2022, although total corporate funding fell by 13 percent to US$24.1 billion, M&A activity increased a by 20 percent year-over-year and venture capital and private equity funding increased by 56 percent to reach a record US$7 billion. Of the 128 solar sector M&A deals recorded in 2022, eight surpassed a value of $1 billion.
Even though the costs involved in producing electricity from solar energy are higher than they are for traditional sources, companies in the sector have a number of financial benefits, largely due to the ongoing green energy transition. These include government subsidies and tax credits to encourage the production of clean energy.
To help investors learn more about individual solar-focused companies, the Investing News Network has put together a list of the top US solar energy stocks by market cap. The list below includes companies listed on the NASDAQ and NYSE, and it was generated using TradingView's stock screener on May 11, 2023.
1. NextEra Energy Resources (NYSE:NEE)
Market cap: US$153.982 billion
NextEra Energy Resources is the top clean energy company in North America, and leads the world in wind and solar energy production. The firm develops, constructs and operates electric power projects, markets electricity to wholesale customers and invests in critical infrastructure for power delivery. NextEra’s operations include more than 150 wind and solar universal energy centers located in 26 states and four provinces in Canada; they generate more than 17,000 megawatts of wind and solar energy.
The diversified energy company recently declared a regular quarterly common stock dividend of US$0.4675 per share, payable on March 15. In 2023's first quarter, the company’s subsidiary Florida Power & Light added nearly 970 megawatts of low-cost solar, bringing its total solar portfolio to nearly 4,600 megawatts.
2. First Solar (NASDAQ:FSLR)
Market cap: US$19.569 billion
First Solar designs and manufactures solar power systems and uses thin-film semiconductor technology to manufacture solar modules. The company’s supporting services include finance, construction, maintenance and end-of-life panel recycling.
In May 2023, First Solar acquired European thin-film technology leader Evolar for about US$38 million paid at closing and up to an additional US$42 million if certain technical milestones are achieved. The acquisition will help the company fast track the development of commercial-scale thin-film photovoltaics.
3. SolarEdge Technologies (NASDAQ:SEDG)
Market cap: US$16.681 billion
SolarEdge Technologies bills itself as “a global leader in smart energy technology,” addressing a broad range of energy market segments through its photovoltaic, storage, electric vehicle charging, battery, uninterruptible power supply and grid service solutions. The company has developed the SolarEdge DC optimized inverter solution for managing photovoltaic systems. This smart inverter maximizes power generation while lowering the cost of energy produced by the photovoltaic system.
In early 2023, SolarEdge announced a multi-year agreement that will allow leading US residential solar installer Freedom Forever to supply its customers with SolarEdge’s suite of Home Smart Energy Ecosystem smart energy products and solutions. “We are proud to enter this strategic cooperation with Freedom Forever to provide smarter, more efficient, and more powerful solar and battery solutions to homes across the United States,” said SolarEdge CEO Zvi Lando.
4. Brookfield Renewable Partners (NYSE:BEP)
Market cap: US$8.693 billion
Brookfield Renewable Partners is one of the world’s largest publicly traded renewable power companies. It sells the bulk of its power production under long-term, fixed-rate power purchase agreements.
Brookfield Renewable’s expansive asset portfolio includes hydroelectric, wind and solar energy-generation facilities, as well as energy storage assets. This translates into roughly 21,000 megawatts of capacity and nearly 6,000 generating facilities across North America, South America, Europe and Asia. In 2022, Brookfield acquired Scout Clean Energy for US$1 billion and bought Standard Solar for US$540 million. The same year, the company partnered with major uranium producer Cameco (TSX:CCO,NYSE:CCJ) to acquire Westinghouse Electric Company, one of the world’s largest nuclear services businesses.
5. Clearway Energy (NYSE:CWEN)
Market cap: US$6.162 billion
Clearway Energy owns, operates and acquires contracted renewable and conventional energy-generation and thermal infrastructure assets across the US. The electric utility company’s operations include conventional generation, renewables and thermal power.
Clearway Energy, which prides itself as being “built for 21st century energy markets,” provides customers with low-cost clean energy generated from solar and wind installations across North America. The company’s portfolio includes more than 7 GW of wind, solar and energy storage operations.
6. SunRun (NASDAQ:RUN)
Market cap: US$3.6 billion
SunRun is one of the leading home solar panel, battery storage and energy services companies in the US. Founded in 2007, the San Francisco-based company provides residential solar electricity via installing, monitoring and maintaining solar panels on homeowners’ rooftops. SunRun is a pioneer in home solar service plans, making local clean energy more accessible with no upfront costs. The company’s Brightbox home battery solution allows customers to access affordable and reliable energy.
SunRun’s purchase of Vivint Solar, at the time the number two company in the US solar energy sector by market share, allowed for the creation of a new solar energy giant in the US residential solar market.
Is there a solar energy ETF?
Investors who don’t want to focus on specific stocks may want to consider exchange-traded funds (ETFs). Within the solar sector, there is only one solar energy ETF, the Invesco Solar ETF (ARCA:TAN). It tracks the MAC Global Solar Energy Index, and offers exposure to a broad basket of solar energy companies.
This is an updated version of an article originally published by the Investing News Network in 2017.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Will Sodium-ion Batteries Disrupt the EV Market?
Lithium-ion batteries have dominated the energy storage and electric vehicle (EV) space for years, but some investors believe new technology breakthroughs could threaten their market dominance.
At the end of 2020, lithium prices took a turn, rallying through 2021 to hit all-time highs. Prices for batteries jumped too, with attention turning to new technologies that could disrupt the battery sector.
Sodium-ion batteries came into the spotlight following announcements from major players such as CATL (SZSE:300750). The world's biggest battery maker unveiled its sodium-ion battery back in 2021 and is expected to begin production this year.
Sodium is abundant and not as expensive as other raw materials, which makes it an attractive option when it comes to dethroning lithium-ion batteries. When lithium prices go up, the cost differential between lithium-ion and sodium-ion batteries of course gets bigger, which was the case for most of last year.
“If the lithium price comes down, which it has been doing recently, then that cost differential gets smaller,” Iola Hughes of Rho Motion told the Investing News Network. “So the business case for sodium-ion and the investment in sodium-ion gets pulled back slightly when lithium is cheaper.”
Listen to the full conversation with Hughes.
The expert said currently the price being quoted for sodium-ion batteries is US$80 per kilowatt hour, which makes them competitive compared to lithium-iron-phosphate batteries. But aside from cost there are many other potential benefits of sodium-ion batteries.
“You can use aluminum current collectors instead of copper,” Hughes said. “There's also the opportunity to do a full discharge … which is good for transporting the batteries.”
Additionally, the raw materials used in sodium-ion batteries are more geographically distributed than the ones found in lithium-ion batteries. The batteries are also nonflammable and perform well at low temperatures.
But the sodium-ion story remains quite focused on China, where the most advanced players are located at the moment.
Jiangsu-based HiNa Battery Technology is one of the main companies making strides in the sector, and this year it is ramping up a facility with about 1 gigawatt hour of capacity. The company made headlines this year when Chinese automaker JAC Motors unveiled a test version of its Sehol E10X EV, which is powered with sodium-based batteries made by HiNa Battery.
“As with any new technology, it takes time for both the supply chain to ramp up, and also for people to gain confidence and trust in that technology and adopt it more widely,” Hughes said. “So at least initially, it's really going to be a China story.”
Other players in the sector include Farasis Energy (SHA:688567) and Natrium.
Will sodium-ion batteries replace lithium-ion batteries?
With raw materials prices increasing, as well as other factors on the horizon, from supply chain constraints to potential output bottlenecks, research and development on alternatives to lithium-ion batteries continues.
At the moment, sodium-ion batteries could be used in low-speed vehicles, but their major application would be large-scale energy storage.
“What's definitely good to highlight is that the demand for the EV market is significant. If anything, it's essentially going to relieve some of the pressures on the supply chain that we are seeing,” Hughes said. “Having the option of some sodium-ion there is not really going to be a massive threat.”
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Priscila Barrera, 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.
Alkaline Fuel Cell Power Provides Update on Status of MCTO
Alkaline Fuel Cell Power Corp. (NEO: PWWR) (OTCQB:ALKFF) (Frankfurt: 77R, WKN: A3CTYF) (“PWWR” or the “Company”), is providing this update on the status of a management cease trade order granted on April 3, 2023 (the "MCTO") by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order ("NP 12-203"). On April 3, 2023, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management’s discussion and analysis for the fiscal year ended December 31, 2022 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement").
The Company reports that the audit is progressing and will provide a further update on the timing of its Annual Filings on or about May 15, 2023. The Company is also progressing on completion of its interim financial statements and accompanying management’s discussion and analysis for the first quarter ended March 30, 2023, and will provide a further update on or about May 15, 2023. Further updates on timing will be provided by the Company as necessary.
During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's Chief Executive Office and Chief Financial Officer will not be able to trade in the Company's common shares.
Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12-203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings requirement.
On behalf of the Board of Directors of the Company,
Alkaline Fuel Cell Power Corp.
“Frank Carnevale”
Frank Carnevale, CEO
+1 (647) 531-8264
fcarnevale@fuelcellpower.com
ABOUT ALKALINE FUEL CELL POWER CORP. (NEO: PWWR)
PWWR is a diversified investment platform developing affordable, renewable, and reliable energy assets and cleantech. We bring ‘Power to the People’ today, combining a stable revenue stream with a future-forward vision to commercialize our advanced hydrogen fuel cell technology to meet the massive global market need, and ultimately generate compelling returns for investors.
PWWR is well positioned to deliver ‘Power to the People’ in the global energy transition while offering a diversified cleantech growth platform for investors.
Further information is available on the Company website at https://www.fuelcellpower.com, and the Company encourages investors and other interested stakeholders to follow it on:
LinkedIn, Twitter, Facebook, Instagram and YouTube. Common shares are listed for trading on the NEO under the symbol “PWWR”, the OTC Venture Exchange “OTCQB” under the symbol “ALKFF” and on the Frankfurt Exchange under symbol “77R” and “WKN A3CTYF”.
Forward-LookingInformation
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “achieve”. Forward-looking statements in this news release may include, but are not limited to, the MCTO and statements with respect to the Company’s technology, intellectual property, business plan, objectives and strategy.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward- looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE NEO EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Pitney Bowes Files Investor Presentation for 2023 Annual Meeting Regarding Hestia Capital's Claims
Hestia Capital's Materials Demonstrate Lack of Understanding of Pitney Bowes' Business and Industry
Corrects the Claims Outlined in Hestia's Six "Value Creation Pillars"
Urges Shareholders to Vote FOR Pitney Bowes' Nominees and Katie May on the GOLD Proxy Card
Pitney Bowes (the "Company") (NYSE:PBI), a global shipping and mailing company that provides technology, logistics, and financial services, today issued the following statement:
Hestia Capital ("Hestia") recently issued an investor presentation consisting of misleading claims, wrong facts, and ill-conceived suggestions, which the Company believes demonstrate a lack of understanding of Pitney Bowes' business and a disregard for long-term value creation. Pitney Bowes filed an investor presentation with the U.S. Securities and Exchange Commission ("SEC") in connection with the Company's 2023 Annual Meeting of Shareholders (the "Annual Meeting") to be held on May 9, 2023 and in response to Hestia Capital's ("Hestia") misleading claims and value-destructive strategic plan for the Company. The full presentation can be found here .
Key Highlights of the Presentation
- Hestia's presentation outlines a highly misleading narrative meant to confuse investors. Hestia's generic "plan" contains a laundry list of amorphous goals but lacks any specificity on timing or actions to take.
- In contrast, Pitney Bowes' Board and management team have a clear path forward: Pitney Bowes' leadership has driven a Company transformation and reorganized the business into three primary synergistic segments – SendTech, Presort, and Global Ecommerce ("GEC") – which will simplify the mailing and shipping process in response to the demands of a rapidly changing business environment. The Company is focused on delivering real, sustainable value to shareholders.
- Hestia's focus on unallocated costs is misleading, as those costs are only a subset of (not total) SG&A, and Hestia compares Pitney Bowes to unrelated companies.
- In fact, Pitney Bowes' SG&A (including restatements) as a percentage of revenue was 25.6% in 2022, well within the 12–44% range of its Form 10K peers. Hestia decided to cherry-pick unrelated peers like J&J, P&G, PepsiCo, and Disney to fit a misleading narrative.
- Hestia has vague or poorly thought-out proposals for Pitney Bowes' businesses .
- Hestia's proposals for Pitney Bowes' GEC and SendTech businesses will drive down revenue and reduce shareholder value. Hestia proposes shrinking its assumed GEC domestic business size by ~50% to reduce sales by ~$600MM, which it claims will be mitigated by a "plan" that lacks detail and discipline.
- In Presort, the Company has always been, and continues to pursue, the strategy of tuck-in acquisitions, yet Hestia somehow thinks this is a new idea.
- Hestia seeks to create a false urgency about our debt profile; in fact, our refinancings have carefully managed our maturities.
- Only approximately $230 million of debt is coming due until March 2026, and Pitney Bowes has various options available to it to address that.
In short, Hestia's so-called "pillars" are nothing of the kind and cannot justify the kind of radical change Hestia has advocated. Pitney Bowes' shareholders are instead encouraged to review the Company's investor presentation for a comprehensive update on the Company's business, and the Board of Directors who have instituted best-in-class governance and strategy oversight to realize long-term value creation at Pitney Bowes for all shareholders. The Company's investor presentation can be found here .
VOTE THE GOLD PROXY CARD TODAY FOR ALL PITNEY BOWES' RECOMMENDED NOMINEES
The Board urges all shareholders to vote "FOR" all the nominees recommended by the Pitney Bowes Board (all eight Company nominees and the recommended Hestia nominee, Katie May) on the GOLD proxy card today. All Pitney Bowes shareholders of record as of the close of business on March 10, 2023 are entitled to vote in connection with the Annual Meeting. Please vote TODAY using one of the following methods:
Vote Online | Vote by Mail |
To view the presentation, or for more information about the 2023 Annual Meeting, please visit: www.VoteforPitneyBowes.com . Shareholders who have any questions or need assistance voting may contact the Company's proxy solicitor, Morrow Sodali LLC, toll-free at 1 (800) 662-5200.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the latest news, corporate announcements and financial results visit https://www.pitneybowes.com/us/newsroom.html . For additional information visit Pitney Bowes at www.pitneybowes.com .
Forward-Looking Statements
This document contains "forward-looking statements" about the Company's expected or potential future business and financial performance. Forward-looking statements include, but are not limited to, statements about future revenue and earnings guidance and future events or conditions. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from those projected. In particular, we continue to navigate the impacts of the Covid-19 pandemic (Covid-19) as well as the risk of a global recession, and the effects that they may have on our and our clients' business. Other factors which could cause future financial performance to differ materially from expectations, and which may also be exacerbated by Covid-19 or the risk of a global recession or a negative change in the economy, include, without limitation, declining physical mail volumes; changes in postal regulations or the operations and financial health of posts in the U.S. or other major markets or changes to the broader postal or shipping markets; the loss of, or significant changes to, United States Postal Service (USPS) commercial programs, or our contractual relationships with the USPS or USPS' performance under those contracts; our ability to continue to grow and manage volumes, gain additional economies of scale and improve profitability within our Global Ecommerce segment; changes in labor and transportation availability and costs; and other factors as more fully outlined in the Company's 2022 Form 10-K Annual Report and other reports filed with the Securities and Exchange Commission (the "SEC"). Pitney Bowes assumes no obligation to update any forward-looking statements contained in this document as a result of new information, events or developments.
Important Additional Information and Where to Find It
Pitney Bowes has filed a definitive proxy statement (the "Proxy Statement") and other documents with the SEC in connection with its solicitation of proxies from shareholders in respect of the Annual Meeting. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS, INCLUDING PITNEY BOWES' PROXY STATEMENT AND ANY AMENDMENTS AND SUPPLEMENTS THERETO AND THE ACCOMPANYING GOLD PROXY CARD, FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN, OR WILL CONTAIN, IMPORTANT INFORMATION ABOUT PITNEY BOWES. Shareholders may obtain free copies of the Proxy Statement and other relevant documents that Pitney Bowes files with the SEC and on Pitney Bowes' website at www.pitneybowes.com or from the SEC's website at www.sec.gov .
View source version on businesswire.com: https://www.businesswire.com/news/home/20230417005920/en/
Editorial -
Bill Hughes
Chief Communications Officer
203.351.6785
Financial -
Ned Zachar, CFA
VP, Investor Relations
203.614.1092
Alex Brown
Senior Manager, Investor Relations
203.351.7639
News Provided by Business Wire via QuoteMedia
Cummins Removed Tons of Waste, Including E-waste From Jamestown, New York Community in 2022
On June 18, 2022, locals gathered at Cummins Inc.'s Jamestown Engine Plant (JEP) for its annual Community Recycling Day. Some started arriving as early as 5:30 a.m., eager to safely dispose of the unwanted items they'd been storing.
Over 950 cars showed up at the event toting automotive batteries, light bulbs, scrap metals, electronics, used tires and more. JEP's Community Recycling Day is a sister event to the Cummins Columbus Engine Plant (CEP) Recycling Day that took place on September 15th. Between the two events, an estimated 140 tons of unwanted items were collected and diverted from landfills.
A look back at JEP Recycling Day 2022 Numbers
The JEP event alone brought in:
- 2,526 gallons of paint
- 4,275 pounds of automotive batteries
- 1,297 pounds of other types of batteries
- 734 pounds of light bulbs
- 3,160 pounds of scrap metal
- 66,844 pounds of electronics
- 950 gallons of used oil
- 65,820 pounds of used tires
The steady rise of electronic waste
The growing popularity of handheld devices like cellphones, tablets and smartwatches has contributed to a vast amount of electronic waste, also known as e-waste globally. E-waste can be broken into six categories: lamps, small IT and telecom equipment, monitors/screens, temperature exchange equipment, large equipment and small equipment.
E-waste is one of the fastest-growing waste streams in the world, with over 50 million tons generated per year. Of those 50 million tons, only 17% is reported as properly recycled.
Cummins plants have implemented systems to reduce this waste. Community recycling days, however, help limit the number of discarded items, including e-waste, that end up at landfills and incinerators, while energizing communities around a common environmental cause. The event shows people how their individual actions can make a greater impact.
Waste reduction a JEP and Cummins
At JEP, recycling days are just one aspect of an overall waste reduction culture. JEP is one of Cummins' zero-landfill sites - sites that reuse or recycle all materials in a useful way.
As part of the Planet 2050 Strategy, Cummins aims to achieve a 25% reduction in waste by the year 2030, with longer-term aspirations for 2050. This includes a reduction in packaging waste, process waste and general trash.
Cummins plans to do this by recycling used oils, batteries, e-waste, cardboard, steel and other materials. They also are forming partnerships with organizations like the Indiana Department of Environmental Management (IDEM), and plan to transition away from single-use packaging and toward reusable plastic packaging.
Jamestown Engine Plant's Community Recycling Day 2023
This year, Jamestown Engine Plant will host their Community Recycling Day on Saturday, June 10.
View additional multimedia and more ESG storytelling from Cummins Inc. on 3blmedia.com.
Contact Info:
Spokesperson: Cummins Inc.
Website: https://www.3blmedia.com/profiles/cummins-inc
Email: info@3blmedia.com
SOURCE: Cummins Inc.
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https://www.accesswire.com/749637/Cummins-Removed-Tons-of-Waste-Including-E-waste-From-Jamestown-New-York-Community-in-2022
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