Dominion Energy Finishes First Offshore Wind Project Installation in U.S. Federal Waters

Dominion Energy | June 30, 2020

Dominion Energy announced today the successful installation of the two turbine, 12-megawatt Coastal Virginia Offshore Wind (CVOW) pilot project 27 miles off Virginia Beach. The first offshore wind farm to be approved by the Bureau of Ocean Energy Management (BOEM) and installed in federal waters, and second constructed in the United States, was built safely and on schedule despite the worldwide impact from the coronavirus pandemic. The turbines will now undergo acceptance testing before being energized later this summer and producing enough clean, renewable energy, at peak output, to power 3,000 Virginia homes.

Spotlight

Global investment flows into renewable energy (RE) have increased rapidly, with RE investments outstripping investments in thermal energy globally in 2017. However, these investments are concentrated in select markets, particularly in the case of developing countries, with China, India, and Brazil accounting for about 80 percent of RE investment flows into developing countries in the past three years. While the business case for RE investments has become considerably more robust in a few geographies resulting in investment concentration in these regions, the deployment of RE still faces varying degrees and types of risk in most developing countries, which constrains the flow of RE investments.


Other News
PRODUCTS

SensorLogic launches first in a series of climate-tech sensors

SensorLogic | March 11, 2022

2.5 billion people rely on the annual snowpack for drinking water, hydropower, food crops, and more. Accurately predicting water availability has become a global priority due to climate change. SensorLogic is developing a range of new snow sensors that cost less to install and maintain, offer flexible placement options, and deliver real-time results over LTE, LoRa and satellite. Bozeman, Montana: SensorLogic's SNOdar, a low-power, affordable and versatile sensor offers a new way for ski areas, water conservation districts, governments, private weather companies, and hydropower plants to accurately measure snow depth in real-time. SNOdars are currently deployed across US and European environmental agencies, hydro plants and ski resorts. "Current snowpack sensing technology is outdated and expensive to install and maintain. These barriers prevent sensor deployment where they are needed most. This results in uncertain water forecasting during unusual winters, which are becoming more common, with potentially devastating outcomes for the 2.5 billion people who rely on the water stored in seasonal snowpack. SensorLogic's suite of new snow sensing technologies are a critical addition to predicting water availability." - H.P. Marshall, a leading snow scientist and former group leader for the NASA SnowEx Project. "Customer feedback on SNOdar performance has been incredible, especially in extreme environments or when compared to their existing ultrasonic or laser sensors, SNOdar is simple to set up and retrieve real-time results on smartphones, data loggers, or our SNOdar Cloud, even during severe storms where most sensors fail." -Doug Roberts, founder of SensorLogic. SNOdar Features and Benefits: Accurate Seasonal Snow Depth and New Snowfall Measurement in Real-Time Low Power/ Low Cost/ Low Maintenance Flexible Installment Options Direct to Cloud Data Capable Estimated Snow Water Equivalency (SWE) Available via Upgrade LTE, LoRa, and Commercial Data Loggers (RS-232 Port and SDI-12 Port) Cornice Growth Monitoring FCC & CE Compliant, and IP67 rated About SensorLogic: SensorLogic is a remote sensing solutions and radar development company in Bozeman, Montana. Founded in 2006, SensorLogic has helped design remote sensing solutions for Google, Dorel Juvenile, John Deere, Xylem, and many others.

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STRATEGY AND BEST PRACTICES

Electreon Signs a Commercial Agreement With Electra Afikim––Israel's Fourth Largest Bus Operator

Electreon | May 17, 2022

Electreon (TASE: ELWS.TA), the leading provider of wireless and in-road electric vehicle (EV) charging technology, has signed an agreement of cooperation with the public transportation company Electra Afikim. As part of the agreement, Electreon will provide Electra Afikim with wireless charging infrastructure that will enable simultaneous charging of 30 buses, 24 hours a day. The deal is a result of a call for proposals issued by Israel’s National Public Transportation Authority in the Ministry of Transportation to public transport operators, to procure and establish infrastructure to electrify buses. The ministry was a partner in arranging the parking lot for electric charging with the Rosh HaAyin municipality, and invested about $2.9 million in the project. As part of the agreement Electreon will provide maintenance, support and operation services for the next 12 years. The cost of the deal is $1.9 million; it will cover the fleet's activity, and includes 30 buses. In addition, Electra Afikim will bear the cost of the electricity. Electra Afikim is the fourth largest bus operator in Israel with roughly 1,400 buses. The municipality of Rosh Hain played a key role in the agreement as part of it policy to promote clean electric transportation in the rapidly growing city This is the second commercial deal signed by Electreon in Israel. The previous, with Dan bus company in October 2021, and includes the sale of wireless charging services for 200 buses. The company estimates that the Electra Afikim agreement has potential for future expansion, including a significant chance of replication with other operators from Israel and abroad. The deal was done in accordance with the Ministry of Transportation's decision to change the face of public transportation in Israel, as part of its ban on the introduction of polluting buses from 2025. The support of the Ministry of Transportation is important especially since the ministry is the entity that finances the public transportation activity in Israel, and the entity that approved the use of Electreon’s wireless charging. The approval given will allow Israeli public transportation operators to duplicate the project and quickly promote green transportation in Israel. “As a leading public transportation company, we are turning towards green energy, Since the transition to electrification depends on the allocation of infrastructure, powerful grid connections and prolonged bureaucracy, we were happy to partner with Electreon, which offers a more cost-effective and accessible alternative to charging electric buses. Electra Afikim already operates 25 electric buses on unique BRT lines in the city of Ashdod as part of a sustainable city project and strives to expand the use of green energy buses. This strategy is in line with Electra Group's sustainable activities on various levels over the past years. We thank the National Public Transport Authority for promoting the agreement as part of its e policy to electrify public transportation." -Oded Cohen, CEO of Electra Afikim. Electreon's activity in Israel is in line with the company's business model, as part of its process to promote public transport operators and other commercial fleet operators in the US, Europe, Germany and France with Electreon's strategic partner, the infrastructure company, Vinci. Over the past weeks Electreon has announced several international deals including: Development agreement for commercial wireless charging projects with Destia, Finland's leading infrastructure services company. As part of the agreement the parties will promote commercial public charging projects in Finland, with trucks and wireless distribution vehicles. USA - The company announced collaboration with the leading wireless charging research center ASPIRE in Utah. As part of the project, which will be launched this summer, ASPIRE will set up a demonstration of a wireless electric road in their test track. The project will demonstrate the company's system for the U.S. Department of Transportation, additional U.S. authorities and potential customers and partners from across the United States. Jacobs, Electreon’s strategic partner, is engaged in promoting commercial transactions with its various customers to operate bus and truck transportation throughout the U.S. In addition, Jacobs partnered with Ford in the U.S. first electric road project, in which the City of Detroit announced its plans to invest heavily and become a leader in infrastructure for charging electric vehicles while driving. Sweden - The company recently updated that the Swedish Ministry of Transportation has added a budget of €2 million ($2.17 million) to extend its project in Gotland - the world’s first wireless electric road for trucks and buses. Which will strengthen its position ahead of the tender for the construction of the first 42 km long electric road in Sweden. “2022 is Electreon’s year of transition from planning, development and construction of supply chains towards large-scale production and sales, The wireless static charging project signed with Electra Afikim is a model that the company intends to replicate in many cities around the world, along with dynamic wireless charging. Electreon continues to significantly increase its production capacity in order to be ready for the rapid construction of projects in the pipeline and future projects.” -Oren Ezer, CEO of Electreon. About Electreon Electreon is the leading provider of wireless charging solutions for electric vehicles (EVs), providing end-to-end charging infrastructure and services to meet the needs and efficiency demands of shared, public and commercial fleet operators and consumers. The company’s proprietary inductive technology dynamically (while in motion) and statically (while stopped) charges EVs quickly and safely, eliminating range anxiety, lowering total costs of EV ownership, and reducing battery capacity needs—making it one of the most environmentally sustainable, scalable, and compelling charging solutions available today. Electreon works with cities and fleet operators on a charging as a service (CaaS) platform that enables cost-effective electrification of public, commercial, and autonomous fleets for smooth and continuous operation. For more information, visit electreon.com. About Electra Afikim \Electra Afikim is the transportation division of the Electra Group, and expresses the vision of the group Electra to establish its position as a leading player in the transportation industry in Israel. Afikim was established in 2008 as part of one of the Ministry of Transportation's reforms that allowed private companies to bid in tenders to operate public transportation clusters. In 2009, the company won the operation of Samaria.cluster, In 2013, it expanded its operations through the acquisition of Veolia Transportation. In 2020. Control of the company was acquired by the Electra Group and about a year later, Electra Afikim acquired Egged Transport Company. Today, the company, which is managed by Oded Cohen, operates about 1,400 buses on about 450 service lines, which operate in five transportation clusters. The company covers about 60 million kilometers and transports more than 60 million passengers a year.

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ENERGY

ALAMO GROUP TARGETS 50% GREENHOUSE GAS EMISSIONS REDUCTION BY 2030

ALAMO GROUP | March 08, 2022

Alamo Group Inc. (NYSE: ALG) announced today a 2030 target to reduce its greenhouse gas emissions by 50% as compared to its 2019 base year. This target covers Scope 1 & 2 emissions as defined in The Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standards published by the World Business Council for Sustainable Development and World Resources Institute. Additional information regarding the Company's sustainability goals and actual emissions for the past three years will be included in its forthcoming 2021 Sustainability Report. "We are pleased to announce an initial 2030 target for reducing our Company's greenhouse gas emissions. Setting meaningful Scope1 & 2 GHG emissions goals is an important step in the right direction. Since 2019, our Company has reduced, in absolute terms, its total energy consumption by about 9%, and we anticipate that we will further reduce it by an additional 30% by 2030. More efficient use of energy, which accounts for 97% of our GHG emissions, will be a primary driver toward achieving our 2030 emissions goal. Investments in LED lighting and energy management systems, as well as energy efficient welding, laser cutting, and air compression equipment have been, and are expected to be, the major contributors in this effort. Installing more efficient heating systems and other building improvements to reduce winter heat loss are also expected to produce significant favorable impacts." -Dan Malone, Alamo Group's Executive Vice President and Chief Sustainability Officer, About Alamo Group Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services. The Company, founded in 1969, has approximately 4,200 employees and operates 29 plants in North America, Europe, Australia and Brazil as of December 31, 2021. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.

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SUSTAINABILITY

Greenwave Technology Solutions Issues 2022 Chairman’s Letter

Greenwave Technology Solutions | January 14, 2022

Greenwave Technology Solutions, Inc. is pleased to issue the following letter to shareholders from Greenwave Chairman and Chief Executive Officer, Mr. Danny Meeks: Dear Greenwave Shareholders, I’m pleased to report that Empire Services, Inc., which Greenwave acquired last fall, generated more than $27 million in revenue during the year ended December 31, 2021, exceeding the $24 million annual revenue goal we set in September 2021. We aim to further accelerate our revenue growth this year by rapidly expanding our footprint of metal recycling facilities. Our 11th location opened in Virginia Beach in mid-October 2021 and is just now starting to meaningfully contribute to our overall metal volumes and revenues – and we expect by that later this year, our Virginia Beach location will have grown into one of our busiest and most profitable locations. By the end of January, we expect to open our 12th location in Fairmont, NC, for which we’ve already secured the licenses and permits, and is the first of many scrap metal facilities that we plan to open or acquire this year. Earlier this week, BlackRock, Inc. disclosed it had accumulated 5.3% of the outstanding ordinary shares of Sims Metal Management[1], the parent company of our largest customer, following BlackRock CEO Larry Fink’s assertion that the next 1,000 companies that will reach a billion-dollar valuation will be focused on green hydrogen, green agriculture, green steel, and green cement. The scrap metal industry is ripe for a roll-up as it will likely result in a significant margin expansion as we enter into what Goldman Sachs called a “commodities supercycle”. As a public company with 31,000 shareholders, Greenwave is positioned to move quickly and aggressively to roll-up independent, profitable metal recycling facilities as a pure play on green steel. We are in the final stages of preparing our formal application to uplist Greenwave to the NASDAQ or NYSE, as we believe a listing on a national exchange would result in a significant increase in visibility, liquidity, and institutional interest for our stock. We have had discussions with many potential board members, all experts in their respective fields, and we expect to begin expanding our board in the coming weeks with seasoned, respected leaders who will help take our company to the next level. Further, we believe Greenwave can meet the listing standards of a national exchange without any additional capital raises. In a January 11, 2022 Research Report, “Metals Watch: Aligned for the next leg higher,” Goldman Sachs raised its price targets for aluminum, copper, and zinc, driven by depleted inventories, robust demand, and inflationary pressures. In this context, we believe now is the optimal time for a roll-up of metal of recycling facilities. Demand for prime metallic scrap is expected to increase by approximately 41% from current levels to 29.6 million gross tons by fiscal year 2025. At the same time, the supply of prime steel scrap has been shrinking consistently for more than 50 years, according to a Steel Research Associates, LLC Scrap Model. Greenwave’s management believes that this supply/demand imbalance will continue to cause rising prices for scrap metal for at least the next 5-7 years. It is also important to note the significant environmental benefits of recycling steel. Unlike plastics and other materials, steel is able to be melted and re-cast countless times as it has no structural memory. Recycling steel, rather than using virgin materials, cuts CO2 emissions by approximately 75% while utilizing approximately 70% less energy. Currently, two out of every three tons of steel produced comes from recycling, up from one out of every ten tons in 1980. Greenwave’s management has set aggressive expansion and revenue goals for the coming year as we begin rolling-up independent, profitable metal recycling facilities. With a significant supply/demand imbalance for recycled steel expected to continue through at least 2025, we believe prices for metals will continue to remain strong for the foreseeable future – especially with many projects under the recently passed Infrastructure Investment and Jobs Act beginning construction. I am incredibly grateful to both our long-term and new shareholders for their continued trust in my leadership as we look to maximize shareholder value and take Greenwave to the next level.

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Spotlight

Global investment flows into renewable energy (RE) have increased rapidly, with RE investments outstripping investments in thermal energy globally in 2017. However, these investments are concentrated in select markets, particularly in the case of developing countries, with China, India, and Brazil accounting for about 80 percent of RE investment flows into developing countries in the past three years. While the business case for RE investments has become considerably more robust in a few geographies resulting in investment concentration in these regions, the deployment of RE still faces varying degrees and types of risk in most developing countries, which constrains the flow of RE investments.

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