AVANTUS | September 15, 2022
8minute Solar Energy (8minute) revealed its new vision beyond solar development to include an advanced ecosystem of clean energy products and services that provide unmatched reliability, responsiveness, and zero-emission energy at a lower cost than fossil fuels. To reflect its expanded scope of advanced technologies in the renewable energy space, 8minute has rebranded to Avantus. As Avantus, the company continues to execute on its core development platform bringing one of the largest clean energy development pipelines in the country to life, while deploying the company’s proprietary power plant technologies and digitally connected delivery systems at the gigawatt scale
“We built 8minute Solar Energy to deliver on goals central to the fight against climate change – making renewable energy lower cost and more reliable than fossil fuels. Now, with more than a decade of experience behind us, we have accomplished that and more: we’ve proven we are a category-defining company on track to become one of the first pure play clean energy majors. And today’s announcement introducing Avantus recognizes that, As Avantus, we have the scale, track record and expertise to transform our country’s energy generation to be as networked and responsive as the digital tools driving the rest of the world. We will do this by continuing to develop our industry-leading pipeline, while also creating advanced technologies that will take clean energy to the next level - smarter, cheaper, faster, and more reliable than ever before.”
-Dr. Tom Buttgenbach, CEO and Founder of Avantus
Through its industry-defining innovations, Avantus is creating new ways to decarbonize our planet, while providing superior solutions that lower the cost of energy. Its networks of smart power plants can deliver flexible, predictable output to the grid and help utilities dynamically manage load – from baseload to peak load, and everything in between.
The company’s proprietary technologies and design optimization tools are unlocking value previously not possible with renewables. Grid stabilization (like frequency regulation and ancillary services), and the ability to bring a plant online instantaneously, reacting to outages in milliseconds, makes renewables not only cleaner, but more reliable than fossil fuels. Avantus smart power plants also guarantee 99% availability, versus 80% to 85% for gas-fired power plants, further solidifying next generation clean energy technology as the backbone of a modern electric grid.
Energy systems must evolve to match the complex, data-driven world we live in, said Kip Larson, Chief Technology Officer of Avantus, who previously spent over a decade optimizing networked systems at Amazon, Amazon Web Services, and Convoy. “That’s why Avantus has created a new ecosystem of renewable energy generation and storage that outperform conventional and simple designs. We deploy digital tools like large scale simulations and predictive analytics to create highly specific and optimized system architecture, power plant designs, and machine learning-powered operational systems to address our customers’ increasingly complex energy needs.
Built on the learnings and technologies validated through 8minute’s portfolio, Avantus has led the industry towards unprecedented milestones. Its legacy includes the largest operating solar cluster in the nation, the first operational solar plant in the U.S. to beat fossil fuel prices, and a project that will deliver solar energy - day and night - for record-low prices.
“As Avantus, we plan to continue breaking records on both cost and reliability, Our expanding development pipeline of over 70 utility-scale projects will provide low-cost, zero-emission energy to more than 20 million Americans. Avantus will build on our legacy of success and play a pivotal role in helping the United States meet its clean energy goals.”
-Stephanie Perry, Chief Operating Officer of Avantus.
Backed by EIG, a leading institutional investor in the global energy and infrastructure sectors, Avantus has secured $450 million in financing over the past year to execute on its differentiated growth strategy. The company has also rapidly grown its team to deliver on its expanded vision, bringing on new technical capabilities and executive leadership, including Chief Financial Officer Rahul Mathur, General Counsel Jennifer Arasimowicz, and Chief Technology Officer Kip Larson, while promoting leadership from within, including Chief Operating Officer Stephanie Perry and Chief Commercial Officer Michael Healy.
Avantus is shaping the future by making reliable, accessible clean energy a global reality. Our legacy of leadership in next generation solar energy includes developing the nation’s largest solar cluster and the first plant to beat fossil fuel prices. Today, we are expanding the boundaries of existing technologies to build one of the largest portfolios of smart power plants with integrated storage, capable of providing 20 million people with low-cost, zero-emission energy – day and night. Through our relentless pursuit of better, we are decarbonizing our planet at the gigaton level, and bringing the advantages of clean energy to all of us. For more information, please visit www.avantus.com, and follow Avantus on Twitter and LinkedIn.
SOLAR+STORAGE, STRATEGY AND BEST PRACTICES
Maxeon Solar Technologies, Ltd. | October 18, 2022
Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) a global leader in solar innovation and channels, announced a strategic partnership with Star Charge, a leading global electric vehicle (EV) charging solution provider. The two companies will cooperate to incorporate Star Charge EV charging products as part of Maxeon's SunPower One home energy solution. This partnership is the latest in a series of strategic developments by Maxeon to expand its SunPower One program, an open ecosystem of clean energy products and services that seamlessly integrate with Maxeon's industry leading solar panels, unlocking greater value for homeowners through one curated and flexible portfolio.
The partnership combines Star Charge's expertise in the research, development, and manufacturing of electric vehicle charging technology with Maxeon's world-class clean energy technology and next-generation consumer experience, allowing Maxeon to enhance the homeowner benefits of solar production and home energy consumption by adding electric vehicle charging management.
"At Maxeon, we are delighted to continue building out our SunPower One home energy management experience thanks to partnerships with category leaders like Star Charge, ensuring we deliver on our promise of Powering Positive Change. Maxeon's SunPower One makes clean energy adoption simpler through a fully integrated suite of products that allows consumers to take control of their domestic energy production and consumption, enabling financial and carbon savings. By educating and empowering homeowners with respect to the energy they create and consume, we aim to support and accelerate the global energy transition."
-Mark Babcock, interim CEO of Maxeon Solar Technologies,
Toni Cheng, CEO of Star Charge Europe, Group VP, said: Maxeon Solar Technologies has led the solar panel manufacturing industry in areas such as panel reliability and longevity, unleashing greater value for customers. Building on this, we're thrilled to see Maxeon taking an innovative approach to improve the experience customers can have with solar energy. We are confident this partnership will help to facilitate the uptake of electric vehicles in parallel with solar panels and have an overall positive impact on the world.
Endorsing the differentiation that SunPower One brings to the market and to the end consumers "With this partnership, homeowners gain the end-to-end power of producing their own clean energy and taking it with them through EV charging. We look forward to announcing future partnerships that add features to SunPower One's open and flexible ecosystem, helping consumers drive more savings."
-Ralf Elias, Chief Product Officer at Maxeon Solar Technologies
The EV charging products are expected to be available and integrated in the SunPower One home energy solution in selected European markets in the first quarter of 2023, and rolled out to other markets during the remainder of 2023.
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ:MAXN) is Powering Positive Change™. Headquartered in Singapore, Maxeon designs and manufactures Maxeon® and SunPower® brand solar panels, and has sales operations in more than 100 countries, operating under the SunPower brand in certain countries outside the United States. The company is a leader in solar innovation with access to over 1,000 patents and two best-in-class solar panel product lines. Maxeon products span the global rooftop and solar power plant markets through a network of more than 1,700 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a +35-year history in the solar industry and numerous awards for its technology. For more information about how Maxeon is Powering Positive Change™ visit us at www.maxeon.com, on LinkedIn and on Twitter @maxeonsolar.
SUSTAINABILITY,STRATEGY AND BEST PRACTICES
Pertamina Power Indonesia | November 14, 2022
Pertamina Power Indonesia (Pertamina NRE), Keppel Infrastructure, through Keppel New Energy Pte. Ltd., and Chevron Corporation (NYSE: CVX), through Chevron New Energies International Pte. Ltd. (Chevron New Energies), have signed a Joint Study Agreement (JSA) to explore the development of selected green hydrogen and green ammonia projects using renewable energy located primarily in Sumatera, Indonesia.
The signing of the JSA took place at the Business 20 (B20) Investment Forum held in conjunction with the B20 Summit in Bali. B20 is an official G20 engagement group that represents the global business community. Signing the JSA were CEO of Pertamina NRE, Dannif Danusaputro; Director of Keppel New Energy Pte., Ltd., Chua Yong Hwee, and Director of Chevron New Energies International, Pte. Ltd., Andrew S. Mingst. The signing was witnessed by the Coordinating Minister for Maritime Affairs and Investment, Luhut Pandjaitan; Minister of Investment of Indonesia & Head of BKPM, Bahlil Lahadalia; President Director & CEO, PT Pertamina (Persero), Nicke Widyawati; and Chief Executive Officer, Keppel Infrastructure, Cindy Lim.
The JSA intends to explore the feasibility of developing a green hydrogen facility, with a production capacity of at least 40,000 tonnes per annum, powered by 250-400 megawatts of geothermal energy in the initial phase. The hydrogen production facility could have the potential to scale up to 80,000-160,000 tonnes per annum, depending on the availability of geothermal energy as well as market demands.
The JSA aims to draw on the complementary strengths of Pertamina, the largest energy company in Indonesia; Keppel Infrastructure, a leading Singapore-based energy infrastructure solutions provider with a strong track record of developing and operating large scale energy and environmental infrastructure projects; and Chevron, a multinational energy corporation committed to providing affordable, reliable, ever-cleaner energy.
According to an International Energy Agency report, Indonesia, the world’s fourth most populous country, has a viable path to reaching its target of net zero emissions by 2060.1 Hydrogen and ammonia are expected to be important lower carbon fuels as part of this roadmap. Ammonia can also be used to transport hydrogen and potentially be used to replace bunker fuels as a lower carbon solution in the global maritime industry.
Indonesia accounts for approximately 40 percent of global geothermal resources, providing opportunities to utilize geothermal energy as a reliable and stable energy source to produce green ammonia or hydrogen.
“The development of green hydrogen and green ammonia holds a significant role in Indonesia’s Net Zero Emissions roadmap. And with its potential, we believe that Indonesia will also play a key role in green hydrogen production in Asia. We are very excited with this strategic collaboration as we know that Keppel and Chevron are reputable companies and have the same vision in energy transition as we do.”
-Dannif Danusaputro, CEO of Pertamina NRE
Ms. Cindy Lim, CEO of Keppel Infrastructure, said, Indonesia is a country with vast resources and enormous potential for renewable and low carbon energy. We are happy to partner with industry leaders, Pertamina and Chevron, to explore the first of its kind use of geothermal and other renewable energy to develop green hydrogen and green ammonia projects and support Indonesia’s energy transition efforts, as well as catalyze investments in green energy supply chain in the regions. In line with Keppel’s Vision 2030, which places sustainability at the core of its strategy, this collaboration will broaden Keppel Infrastructure’s geographical footprints to create and capture more value arising from the global commitment to net zero and its energy transition.
Austin Knight, vice president of Hydrogen, Chevron New Energies, said, “We have a long history of working in Indonesia and with Pertamina, and a growing relationship with Keppel Infrastructure. We look forward to leveraging our collective strengths to study and evaluate lower carbon opportunities for the region. Chevron’s strength has always been solving big, complex energy challenges, and creating a lower carbon future is the opportunity that motivates us. As part of this effort, we must work together to identify new, innovative ways of producing and delivering ever-cleaner energy to a growing world.”
Keppel Corporation Limited, the parent company of Keppel Infrastructure, does not expect the abovementioned development to have any material impact on Keppel Corporation’s earnings per share and net tangible asset per share for the current financial year.
About Pertamina NRE
PT Pertamina Power Indonesia (Pertamina NRE) is member of PT Pertamina (Persero), Indonesia’s largest energy company, comprised of four business entities: PT Pertamina Geothermal Energy (subsidiary), PT Jawa Satu Power (affiliate), PT Jawa Satu Regas (affiliate), and PT Industri Baterai Indonesia. Its business focuses on clean energy development. It is highly committed to support Indonesia’s net zero emission 2060 through energy transition and to implement ESG.
About Keppel Infrastructure
Keppel Infrastructure (KI) is a wholly-owned subsidiary of Keppel Corporation, a Singapore flagship multinational company providing solutions for sustainable urbanisation. KI provides solutions for some of the world’s most pressing challenges through its power & gas, environment and new energy businesses by leveraging its proprietary technology, strong technical expertise and proven operating capabilities.
KI has a track record of developing energy and environmental infrastructure end-to-end, including power generation assets, waste-to-energy (WTE) facilities, large-scale district cooling systems, as well as NEWater and desalination plants. In Singapore, it operates a 1,300-megawatt high efficiency gas-fired combined cycle power plant and a utility pipe rack and pipeline network in Jurong Island. It is also Singapore’s leading electricity retailer, and the first and largest district cooling systems developer and service provider. Globally, through Keppel Seghers, it is one of the leading WTE technology providers with more than 100 project references in 20 countries.
KI is expanding its presence, in Singapore and overseas, in areas such as power generation, waste management, district cooling, renewables and energy storage, electric vehicle charging infrastructure and other clean energy opportunities.
Chevron is one of the world’s leading integrated energy companies. We believe affordable, reliable, and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance our business and the industry. We are focused on lowering the carbon intensity in our operations and growing lower carbon businesses along with our traditional business lines. For more information, please visit www.chevron.com.