ING Americas | May 21, 2022
ING Americas (ING) has been engaged by Clean Energy Holdings, LLC (CEH) as its financial advisor in respect of the financing of projects by the Renewable Energy and Technology Alliance (The Alliance) being assembled by CEH. ING brings multiple areas of expertise to CEH's Platform and projects including advisory services and leading the capital raising requirements for the project.
Equix Inc., a well-established and highly respected infrastructure firm, is also joining The Alliance bringing industry leading execution experience including Engineering, Procurement, and Construction (EPC) in both renewable energy and hydrogen facilities. Bair Energy, LLC (BE) joins The Alliance as the Program Management Construction Management (PMCM) and serves as The Alliance Representative for the CEH Platform. The Alliance is working with an experienced commodities group to market and lead offtake negotiations for its projects.
Clean Energy Holdings, ING Americas, and Equix Kick-off 250 MW Green Hydrogen Alliance Project in Texas
ING will take the lead in securing project financing for CEH's 250 MW Clear Fork, TX renewable energy supplied green hydrogen and liquefaction project. As one of the largest and leading green hydrogen developments in North America, the project has a baseline schedule slated to enter commercial operations in the third quarter of 2024. The project is expected to produce a levelized average of 30,000 kg a day of liquefied green hydrogen. The CEH Platform is designed to attract leading edge and emerging technologies to integrate into our projects for validation and certification.
"Our Alliance is leading energy transformation, and we are committed to continue to lead the North American market in the production and implementation of green hydrogen for industrial, chemical, and mobility applications. We are also driving technological advancements developed through our projects. We have assembled a group of industry leaders as well as local and state governments to navigate through the potential challenges as we deliver our projects from concept to delivery and provide turnkey projects with a complete basis for design. Our Alliance delivers on contract and safety, with guaranties. This project is a strategic priority for The Alliance to showcase its turnkey design, long term operations and production guaranties."
-CEO of Clean Energy Holdings, Nicholas Bair
"These early, large-scale, projects will help define the green hydrogen industry in North America. Our Alliance partners and advisors have been carefully selected as both best-in-class for their respective roles and dedication to make these projects a success."
-CEH President, Cornelius Fitzgerald
ABOUT CLEAN ENERGY HOLDINGS
Clean Energy Holdings (CEH) is a renewable energy and technology platform focused on developing, owning, and operating leading edge, innovative and reliable renewable energy and low carbon facilities. CEH is a technology centric platform and, with our Alliance Partners, provides turnkey solutions for innovative projects like Clear Fork Green Hydrogen, the second Green Hydrogen project brought forward by CEH. Further, the CEH projects have been carefully selected to lead various State and Regional initiatives aimed to bring cost effective Green Hydrogen fuel to transportation corridors as well as industrial clients.
ABOUT BAIR ENERGY
BE is a Program Management and Construction Management (PMCM) firm with a focus on renewable energy projects in both domestic and select international markets. In its PMCM role, Bair Energy manages and coordinates platform concepts with viable projects to take advantage of benefits, like efficiencies of scale, not available to the projects individually. In addition, Bair Energy oversees construction of individual projects. In all roles, Bair Energy has embraced a philosophy for Health, Safety, and Environmental Excellence.
ABOUT ING Americas
ING Americas offers a full array of wholesale financial products, such as commercial lending, financial markets, corporate finance and advisory products and services in the U.S. to its corporate and institutional clients. We know being sustainable is not just about reducing our own impact, it's also in the choices we make—as a lender, in our financing, and through the services, we offer our customers. That's why sustainability is inherent to our purpose of empowering people to stay a step ahead in life and in business. ING Americas is the brand name of ING's corporate and institutional client business in the Americas region, operating in the U.S. through ING Financial Holdings Corporation and its subsidiaries ("IFH"). IFH is a subsidiary of ING Bank N.V., and a part of ING Group N.V. ("ING").
ABOUT EQUIX INC.
Equix, Inc. is a private contracting firm that develops people and companies in the technical, professional, and construction services industries across North America. Focusing on utility and infrastructure projects offering full-service surveying, design, construction, and maintenance services to the renewable energy, broadband, electric, heavy civil, pipeline, water, and wastewater markets. Equix employs over 1,250 team members across 27 corporate offices in 13 states. They are licensed to do business in over 30 states across all service offerings.
Nabors Industries | March 30, 2022
Nabors Industries Ltd. ("Nabors" or the "Company") (NYSE: NBR) adds to its clean energy portfolio with a USD $8 million investment in GA Drilling, a.s. ("GA Drilling"). This strategic investment expands Nabors' commitment to deep-drilling technologies tapping super-hot, ultra-deep rock reservoirs.
GA Drilling, a geothermal technology company with headquarters in Bratislava, Slovakia, is a pioneer in plasma drilling. By integrating its innovative, contactless PLASMABIT® drilling tool into Nabors' industry-leading automated and lower-emission drilling operations, the collaboration aims to accelerate field commercialization and eliminate traditional economic barriers of ultra-deep projects to expand global access to geothermal energy. This agreement complements the pre-series investment round recently concluded by GA Drilling, with the total value of those new investments exceeding USD $20 million.
Nabors has continued to implement its energy transition strategy targeted at high growth potential, lower-carbon energy markets. Through its investments in multiple clean energy ventures, Nabors has started to establish several ecosystems of complementary technologies that can benefit from synergies with Nabors' existing operations and competencies.
GA Drilling joins Nabors' geothermal ecosystem, which is comprised of three other prior venture investments in geothermal companies. These technologies were purposefully assembled to help make geothermal energy widely accessible across geographies, while reducing cost per unit of energy generated to match the cost of other energy sources.
Meeting Decarbonization Goals
Geothermal energy is one of the only clean, renewable and reliable baseload energy sources; however, due to the limited geographical distribution of high-temperature gradients and high legacy drilling costs, its full potential remains largely untapped. PLASMABIT® is engineered to enable ultra-deep drilling in high-temperature hard formations at a cost comparable to unconventional horizontal drilling. Using an electric arc with a chemically assisted plasma pulse, this laboratory-proven bit aims to penetrate crystalline rock at high penetration rates, at depths exceeding 10 km (6.2 miles). Clean electricity is generated by producing water heated in the earth's crust and converting it to power at the surface. Building on a common technology ecosystem and infrastructure, and the ability to access geothermal almost anywhere, this solution should speed up and expand the availability of carbon-free fuel options for power generation.
"Now is the time to invest in innovative and bold geothermal solutions that have the potential to unlock terawatts of clean, renewable and reliable energy on a truly global scale. Given the expected sharp growth in global energy consumption over the next decades, the world will require an even sharper growth in sustainable energy supply. I am convinced that geothermal energy will be a key contributor to the necessary increase in clean energy generation. With our unmatched portfolio of drilling, automation and digitalization technologies, Nabors intends to become a key player in the upcoming expansion of geothermal energy. We look forward to leveraging the GA Drilling Centre of Excellence and integrating their technologies into our ecosystem."
-Anthony G. Petrello, Nabors Chairman, CEO and President
"We welcome Nabors not only as an investor but also as a strategic partner. The present agreement will allow us to move faster through the final stages of PLASMABIT® development, leveraging the synergies to integrate this revolutionary drilling tool into the systems of the rig. Nabors will introduce European high-technology capacities into the U.S. market. Together, we will work toward meeting imminent demand to rapidly diversify the global energy mix. With this collaboration, we have made another big step toward delivering on our promise of 'Geothermal Anywhere'."
-Igor Kočiš, Founder and CEO of GA Drilling
About Nabors Industries
Nabors Industries (NYSE: NBR) is a leading provider of advanced technology for the energy industry. With operations in more than 15 countries, Nabors has established a global network of people, technology and equipment to deploy solutions that deliver safe, efficient and responsible energy production. By leveraging its core competencies, particularly in drilling, engineering, automation, data science and manufacturing, Nabors aims to innovate the future of energy and enable the transition to a lower-carbon world.
About GA Drilling
GA Drilling, with its patented PLASMABIT® technology, offers a solution for a local and independent source of electricity, heating, clean water, and food production in an unstable world. The company will provide scalable, modular, solutions to zero-carbon emissions energy production. Geothermal energy is the only renewable source of clean and baseload energy, available 24/7/365. It works regardless of weather conditions or the day-night cycle. PLASMABIT® brings a significant reduction in operational time and cost savings, drilling faster, deeper, and cheaper through any material, including hard rock and steel. The technology is the result of years of R&D, with 23 registered patents, supported by a full-time team of over 50 engineers and researchers, industrial funding, investors, some 20 EU research grants, and strategic technology development partnerships with drilling industry leaders from Europe, US, and Asia
Xinhua Silk Road | March 31, 2022
Seraphim Energy Group Co., Ltd. (Seraphim), a leading global solar product manufacturer, has recently completed PV module deliveries of 72 MW to Citicore Power Inc. (Citicore), a well-known community-focused renewable energy company in the Philippines.
According to Seraphim, Citicore placed an order for up to 72 MW of its monofacial modules with a maximum power output of up to 540/545W in July 2021.
The PV modules were scheduled to be delivered between October 2021 and January 2022 while the official commission date is estimated to be October 2022.
"This is an important solar industry procurement deal which is a testimony to Seraphim's exponential growth in the Philippines, The Philippines is well positioned for solar energy in terms of geography as it enjoys abundant sunlight, and with reliable local partners, we have already shipped over 200MW solar modules in the past two years. I believe that this cooperation with Citicore will help us further increase our strength in the Philippines and in Southeast Asia as a whole"
- Polaris Li, president of Seraphim.
Seraphim has specialized in research, development, production, innovation and sales of PV products since its foundation in 2011. To date, more than 14GW Seraphim's products have been installed in over 40 countries worldwide.
At present, Citicore is one of the leading players in the solar energy space of the Philippines with a combined installed generating capacity of 170 MW.
Citicore produces clean and pure renewable energy straight from the solar generation plants across the Philippines through Citicore Renewable Energy Corporation (CREC).
EcoSmart Solution | February 04, 2022
EcoSmart Solution (EcoSmart), a green energy service provider (Green ESP) designing and delivering innovative geothermal infrastructure for zero-energy capable communities, has proven its flagship Whisper Valley community successfully weathered the February 15, 2021 winter storm that overwhelmed the state’s electricity infrastructure and caused massive power outages across Texas. EcoSmart, an affiliate of Taurus Investment Holdings, and its EcoSmart GeoGrid used 54% less electricity to power Whisper Valley homes when compared to typical Texas homes because, among other reasons, the GeoGrid™ is located underground, where it is naturally winterized and able to avoid the freeze problems that occurred with other energy sources, demonstrating further that it can be an innovative energy solution across all regions and climates.
As the one-year anniversary of the storm approaches, the Electric Reliability Council of Texas (ERCOT) and the State of Texas are working to introduce long term plans to avoid an energy failure like what was experienced last February. Taurus and EcoSmart’s Whisper Valley is a practical solution for delivering affordable and resilient energy no matter the weather.
“Homes in Whisper Valley are designed to consume less energy which naturally reduces the overall energy required and puts less strain on the state’s electric grid,” said Wesley Brinkmeyer, Manager of Energy Services for Bluebonnet Electric Cooperative.
Whisper Valley is a first-of-its-kind eco-community with an innovative EcoSmart GeoGrid, which delivers geothermal heating and cooling to homes, reducing energy consumption by up to 65%. When combined with solar panels that generate electricity, the result is a zero-energy capable home. This sustainable, renewable energy system could greatly reduce energy consumption on a mass scale if implemented in new residential and commercial developments across the state and country, helping to offset the energy requirements needed for future climate-related grid constraints.
During last February’s unprecedented storm, our GeoGrid performed beyond admirably in extreme conditions, which further proves that it is a revolutionary energy solution, that can be applied to various geographical regions. Through EcoSmart’s state-of-the-art efficiency monitoring tools, we knew exactly how the heat pumps were performing at all times during the winter storm and are pleased to report there were no weather-related damages to our customers' homes in Whisper Valley.”
John Towle, CEO of EcoSmart
The GeoGrid is a hybrid loop system that stores thermal energy in the Earth during hot months, and then uses the stored thermal energy in the winter to heat homes much more efficiently than traditional systems. It does this with the use of a Ground Source Heat Pump (GSHP) that takes the place of a conventional HVAC system. The EcoSmart program also includes smart home technology and an energy monitoring system in every home to maximize the energy efficiency of the homes. An already proven home heating and cooling solution, EcoSmart and Taurus are the only developers to offer a GeoGrid solution at the scale of Whisper Valley.
The EcoSmart geothermal equipped home is already less energy intensive than a conventional home. The physics of the geothermal system enable a house to use one unit of energy to deliver approximately four units of temperature conditioning, resulting in far less energy draw than a conventional house. This lowers peak demands on the utility and minimizes the amount of onsite energy production or storage a house needs, lessening dependence on the power grid.
About Taurus Investment Holdings, LLC
Established in 1976, Taurus is a global real estate private equity firm with over 45 years of experience as a general partner, investor, and operator. By empowering and combining the strength of in-house experts in the fields of multifamily, office, logistics, mixed-use, and renewable energy, the firm has created targeted, scalable investments into value-add, core-plus, and development opportunities.
Taurus is focused on using innovative energy efficient technologies to make the extensive infrastructure investments required to decarbonize residential and commercial buildings through its EcoSmart Solution and RENU Communities affiliates.
Throughout North America and Europe, Taurus is consistently recognized as one of the premier owners of both directly managed and joint venture commercial real estate. To date, Taurus has purchased and developed more than 65 million square feet of residential, office, industrial, retail and other commercial real estate assets throughout the world with a total acquisition value of over $9.25 billion.
About EcoSmart Solution
EcoSmart Solution is an affiliate of global real estate investment firm Taurus Investment Holdings (TIH) and a green energy services provider (Green ESP), designing and delivering innovative geothermal infrastructure combined with a comprehensive suite of distributed energy resources; enabling developers and builders of large-scale new construction neighborhoods to create energy efficient communities and homes, providing new homeowners affordable, comfortable, and sustainable living.