STRATEGY AND BEST PRACTICES,INDUSTRY UPDATES

BitNile’s Subsidiary, TurnOnGreen, Awarded State, Federal, and Utility Certifications for Its Electric Vehicle Chargers

BitNile Holdings, Inc. | July 19, 2022 | Read time : 03:12 min

BitNile’s Subsidiary, TurnOnGreen,
BitNile Holdings, Inc. (NYSE American: NILE) announced that its green energy technology and power supply subsidiary, TurnOnGreen, Inc. (“TurnOnGreen”), has multiple Level 2 Electrical Vehicle (“EV”) chargers and DC fast chargers approved for rebate by the California Electric Vehicle Infrastructure Project (“CALe-VIP”) and Southern California Edison Charge Ready Program. The Company has also earned an ENERGY STAR certification for its EV700 32-amp EV charger for residential and commercial installations. ENERGY STAR is the government-backed symbol for energy efficiency, providing credible information that consumers and businesses rely on to make well-informed decisions and is a requirement for many of the rebate programs throughout the United States.The United States Environmental Protection Agency (the “EPA”) awards ENERGY STAR certification to EV chargers proven to be the most energy-efficient after meeting rigorous energy efficiency and sustainability standards.

The ENERGY STAR certified TurnOnGreen EV700 smart charger features innovative technology compatible with most electric vehicles on the road, including Ford, Chevrolet, Mullen, Lucid, Nissan, Kia, Hyundai, BMW, Mercedes, and Tesla when using the J1772 adapter. The EV700 can add up to 32 miles of range for every hour of charging and features an easy-to-use LCD touch screen and smartphone application. TurnOnGreen launched the EV700 in North America in January 2022. Consumers and businesses can purchase the EV700 at www.TurnOnGreen.com/EV700 or through major e-commerce retailers like Walmart, Amazon, and DigiKey.

The CALe-VIP program offers incentives for purchasing and installing electric vehicle charging infrastructure at publicly accessible sites throughout California. As of June 2022, it has awarded over $146 million in EV charger rebates. The program has helped install 1,339 DC Fast Chargers and 6,180 publicly accessible Level 2 chargers in California. Southern California Edison (“SOCAL Edison”) is one of the largest electric utilities in the United States and a leader in renewable energy and energy efficiency. The $436 million SOCAL Edison Charge Ready Program seeks to add 38,000 new EV car chargers throughout the Utility’s service area in Southern California over the next four years.

“We are committed to developing innovative products that can help EV drivers reliably charge their vehicles using the right amount of power, We are proud to provide EV charging solutions that are rebate eligible and meet the needs of consumers and businesses while offering them a path to sustainability.”

-Amos Kohn, TurnOnGreen CEO and Chief Engineer

To be part of the two largest EV Charging infrastructure rebate programs in California is a major milestone for TurnOnGreen and will help expand our EV charging footprint throughout the state,” said Marcus Charuvastra, TurnOnGreen’s Chief Revenue Officer. “The Energy Star Certification for the EV700 is also a major event for TurnOnGreen as it enables the product to become eligible for the hundreds of rebate programs offered by federal, state, and municipal government agencies as well as the multitude of Utility rebate programs throughout the United States.

According to a report by Grand View Research, as of 2021, the U.S. EV charging infrastructure market has an estimated value of $2.85 billion and is expected to advance at a compound annual growth rate (CAGR) of 36.9% from 2022 to 2030. The market growth is a result of the expansion of government initiatives to fund public and private EV charging infrastructure projects and programs that encourage consumers to buy electric vehicles.

For more information on BitNile Holdings and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.

About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.

About TurnOnGreen, Inc.
TurnOnGreen Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located at Milpitas, CA; www.TurnOnGreen.com.For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.

Spotlight

From a distance, solar panels can look like they’re quietly and passively absorbing the sun’s rays. Most of us likely don't imagine that the process of converting solar energy into usable electricity is fraught with safety concerns.

Spotlight

From a distance, solar panels can look like they’re quietly and passively absorbing the sun’s rays. Most of us likely don't imagine that the process of converting solar energy into usable electricity is fraught with safety concerns.

Related News

ENERGY,INDUSTRY UPDATES

Vanguard Renewables Announces Acquisition by BlackRock Real Assets

Vanguard Renewables | July 22, 2022

Vanguard Renewables, a U.S. leader in organics-to-renewable energy, announced that a fund managed by BlackRock Real Assets has acquired the company from Vision Ridge Partners. BlackRock Real Assets will partner with Vanguard Renewables’ management team to build upon the company’s market-leading track record and drive its next phase of growth, including its plans to commission more than 100 anaerobic digesters to produce renewable natural gas across the country by 2026.Since its founding by John Hanselman and Kevin Chase in 2014, Vanguard Renewables has been changing the perception of U.S. food waste and how that waste can be recycled into renewable energy to benefit the planet. The company mitigates greenhouse gas emissions from food waste and cow manure through two distinct business lines: Vanguard Organics and Vanguard Ag. Vanguard Organics’ Farm Powered® anaerobic codigestion process converts inedible food and beverage waste and dairy manure into renewable natural gas and liquid low-carbon fertilizer. Vanguard Ag, developed in partnership with Dominion Energy in 2019, converts manure into renewable natural gas. This multi-year partnership is essential to Vanguard Ag’s growth and Dominion Energy’s commitment to further its ESG goals via significant investments in renewable natural gas projects. We are pleased to invest in Vanguard Renewables, a leading producer of renewable natural gas from agriculture and organic food waste in the U.S., supported by long-term contracts,” said Mark Florian, Head of Diversified Infrastructure, BlackRock Real Assets. “Renewable natural gas is an attractive and fast-growing market that provides decarbonization solutions for both the provider of the waste, as well as the natural gas consumer. We look forward to partnering with Vanguard Renewables’ experienced management team to support the company’s strong growth momentum. “Today is the beginning of an exciting next chapter for Vanguard Renewables as we scale our Farm Powered® program across the nation. We are thankful for the steadfast support of Vision Ridge over the past eight years and look forward to our new partnership with BlackRock Real Assets, one of the world's most forward-thinking and environmentally-focused investors, as we continue to develop solutions to protect our planet.” -Neil H. Smith, Chief Executive Officer at Vanguard Renewables Since our investment in Vanguard Renewables in 2014, we have worked closely with Neil, John, Kevin, and the entire team to enable them to grow the company from its modest beginnings into the national leader in the development of organics-to-renewable energy projects,” commented George Polk, partner at Vision Ridge Partners. “We are proud to have helped build Vanguard Renewables into an unmatched RNG platform pioneering a decarbonizing pathway in the U.S. while generating strong returns for Vision Ridge investors, and are pleased to transition ownership to a likeminded investor, BlackRock Real Assets. John Hanselman, Founder and Chief Strategy Officer at Vanguard Renewables, concluded, “I am immensely proud to have helped build a company from the ground up into a national organic waste-to-renewable energy leader. Vanguard Renewables’ mission has always been to help America realize a future where waste is a resource for renewable energy generation and regenerative agriculture practice.” Onpeak Capital LLC served as the exclusive financial adviser to Vanguard Renewables. Evercore served as exclusive financial adviser and Simpson Thacher, & Bartlett served as legal counsel to BlackRock Real Assets. Ropes & Gray LLP served as legal counsel to Vision Ridge Partners. About Vanguard Renewables Vanguard Renewables, based in Wellesley, Massachusetts, is a national leader in developing food and dairy waste-to-renewable energy projects. The Company owns and operates on-farm anaerobic digester facilities in the northeast and currently operates manure-only digesters in the south and west for Dominion Energy. Expansion plans include more than 100 anaerobic digestion facilities by 2026. Vanguard Renewables is committed to advancing decarbonization by reducing greenhouse gas emissions from farms and food waste and supporting regenerative agriculture on partner farms through anaerobic digestion. To learn more about the Company, its energy partners, and the Farm Powered Strategic Alliance, visit www.vanguardrenewables.com. About BlackRock Real Assets In today’s dynamic and complex global investing market, BlackRock Real Assets seeks to help clients access real assets that could help meet their investment goals by providing a distinct range of well defined, outcome orientated strategies, along the investment risk-return spectrum. BlackRock Real Assets’ dedicated teams of industry and sector specialists deliver global reach, with deep local expertise. They have decades of relevant experience, are deeply embedded in their operating industries by sector and geography and have developed strong partnership networks over time. BlackRock’s culture of risk management, knowledge sharing and investment discipline sets BlackRock Real Assets apart and underpins all that they do. With over 400 professionals in 30 offices managing over $70 billion in client commitments as of June 30, 2022, BlackRock Real Assets partners with clients to provide solutions tailored to individual portfolio needs such as income, growth, liquid or balanced real assets outcomes. About Vision Ridge Partners Vision Ridge Partners is a preeminent investor in sustainable real assets that seeks to deliver superior financial returns while driving positive environmental impact. Founded by Reuben Munger and joined by partners Justin Goerke and George Polk, Vision Ridge manages approximately $2.5 billion, as of December 31, 2021, across its three funds and associated co-investments. Vision Ridge has offices in Colorado and New York. For more information visit https://vision-ridge.com.

Read More

ENERGY,PRODUCTS

LyondellBasell Achieves Renewable Energy Milestone

LyondellBasell | August 01, 2022

LyondellBasell announced it has made another step forward in its journey to net zero greenhouse gas (GHG) emissions. The company signed two additional long-term renewable electricity power purchase agreements (PPA) with Buckeye Partners for a total of 165 megawatts (MW) to be sourced from Buckeye's solar farms currently under construction in north Texas. This announcement is another example of the progress LyondellBasell is making towards achieving its 2030 goal of procuring at least half, approximately five million megawatt hours (MWh) per year, of its current electricity consumption from renewable sources.This agreement is the fourth renewable energy PPA for LyondellBasell and comes just one month after the company announced PPAs with ENGIE North America for 100 MW and Buckeye for 116 MW. The four agreements represent a total of 381 MW of renewable energy, estimated to generate approximately 1,037,000 megawatt-hours (MWh) of clean power annually. This is equivalent to the yearly electricity consumption of over 96,000 American homes. "Infused in the work we do and products we make is our commitment to continually improve the quality of life and the environment, Renewable energy is an important step to achieving our GHG emission reduction goals on our journey to net-zero by 2050. Through their use in the production of wind turbines, solar panels and electric vehicles, our products are critical to the energy transition. Expanding our investment in wind and solar energy sources helps reduce the emissions associated with producing the vital products which make renewable energy possible." -Peter Vanacker, CEO of LyondellBasell. Buckeye Crown and Sol Solar Projects Buckeye's Crown and Sol solar projects are located in Falls County, Texas on adjacent sites and are expected to commence commercial operations in the third quarter of 2023. Each PPA term with LyondellBasell is for 15 years. The projects are estimated to generate over 400,000 MWh of clean power annually for LyondellBasell, equivalent to 152,000 metric tons of carbon dioxide or the yearly electricity consumption of nearly 37,000 average American homes. Decarbonizing electricity supply through the purchase of renewable electricity is important to meeting LyondellBasell's 2030 targets. The renewable energy source target is estimated to reduce approximately 1.5 million metric tons of greenhouse emissions from its scope 2 emissions annually. About LyondellBasell As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company takes great pride in its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

Read More

SOLAR+STORAGE,ENERGY

Avantus Launches Out of 8minute Solar Energy to Redefine the Energy Sector

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. ABOUT AVANTUS 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.

Read More