Imperial Petroleum Inc. | March 21, 2022
Imperial Petroleum Inc. announced the pricing of an upsized underwritten public offering of 37,500,000 units at a price of $1.60 per unit. Each unit consists of one common share and one Class B warrant to purchase one common share, and will immediately separate upon issuance. The gross proceeds of the offering to the Company, before underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $60 million.
The Company intends to use the net proceeds of the offering for capital expenditures, including acquisitions of additional vessels which we have not yet identified, and for other general corporate purposes.
Each Class B warrant is immediately exercisable for one common share at an exercise price of $1.60 per share and will expire five years from issuance. The offering is expected to close on or about March 23, 2022, subject to customary closing conditions.
Maxim Group LLC is acting as sole book-running manager in connection with the offering.
The Company has granted the underwriter a 45-day option to purchase up to an additional 5,624,950 common shares and/or prefunded warrants and/or 5,624,950 Class B warrants, at the public offering price less underwriting discounts and commissions.
The offering is being conducted pursuant to the Company’s registration statement on Form F-1 previously filed with and subsequently declared effective by the Securities and Exchange Commission on March 18, 2022 and an additional registration statement filed pursuant to Rule 462(b), which was filed on March 18, 2022 and became effective upon filing. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus relating to this offering, when available, may be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New York, NY 10022, at 895-3745.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
ABOUT IMPERIAL PETROLEUM INC.
Imperial Petroleum Inc. is a ship-owning company providing petroleum product and crude oil seaborne transportation services. The Company currently owns three M.R. product tankers and one Aframax oil tanker with a total
Aemetis, Inc. | April 05, 2022
Aemetis, Inc. a renewable fuels company focused on negative carbon intensity products announced the acquisition of an 8.5-acre property on Faith Home Road for $2 million, located approximately 1/4 mile from the Aemetis Keyes renewable ethanol plant. The corner property is a strategic location for operations supporting the company’s Carbon Zero projects, including dairy renewable natural gas and carbon capture and sequestration.
Sited adjacent to the existing Aemetis biogas pipeline, the property is ideally situated at the southeast intersection of Faith Home Road and Keyes Road, approximately 1/2 mile from California Highway 99, the major north-south route that runs through California’s Central Valley. The property is also approximately 1/2 mile from the Union Pacific Railroad. The property’s location and level terrain allow for easy access to the Aemetis Keyes facility and major transportation infrastructure.
Aemetis has completed construction and is currently commissioning a centralized gas cleanup facility and utility gas interconnect at the Keyes Ethanol plant where dairy biogas will be upgraded to RNG and injected into the utility gas pipeline through an interconnection with PG&E.
“The acquisition of the Faith Home property is a key milestone in our RNG and CCS project plans. The site’s location close to the Keyes ethanol plant, adjacent to the existing Aemetis biogas pipeline and easily accessible to major highways is a major step toward deploying new and ongoing Carbon Zero activities,” added McAfee.
Eric McAfee, Chairman, and CEO of Aemetis, Inc
Aemetis Carbon Zero products include negative carbon intensity fuels that can be used in passenger and cargo vehicles including trucks, buses and airplanes to replace petroleum products. Aemetis low-carbon fuels have substantially reduced carbon intensity compared to standard petroleum fossil-based fuels.
Headquartered in Cupertino, California, Aemetis is a renewable natural gas, renewable fuel and biochemicals company focused on the acquisition, development and commercialization of innovative technologies that replace petroleum-based products and reduce greenhouse gas emissions. Founded in 2006, Aemetis has completed Phase 1 and is expanding a California biogas digester network and pipeline system to convert dairy waste gas into Renewable Natural Gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that supplies about 80 dairies with animal feed. Aemetis also owns and operates a 50 million gallon per year production facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin for customers in India and Europe. Aemetis is developing the Carbon Zero sustainable aviation fuel and renewable diesel fuel biorefineries in California to utilize distillers corn oil and other renewable oils to produce low carbon intensity renewable jet and diesel fuel using cellulosic hydrogen from waste orchard and forest wood, while pre-extracting cellulosic sugars from the waste wood to be processed into high value cellulosic ethanol at the Keyes plant. Aemetis holds a portfolio of patents and exclusive technology licenses to produce renewable fuels and biochemicals.
XENDEE Corporation and Idaho National Laboratory | January 15, 2022
XENDEE Corporation and Idaho National Laboratory have partnered to build a design platform for Net-Zero Carbon Microgrids. The platform will consider a wide variety of distributed energy and sustainable technologies, including solar photovoltaic, battery storage, electric vehicle fast-charging stations, hydrokinetic power, hydro-storage, traditional combined heat and power systems, and small nuclear reactors to optimize Microgrid designs and minimize environmental impacts while also capturing the best return on investment.
Essential to the development of the program was also a strong emphasis on greenhouse gas reductions, since as it stands, traditional generators running on fossil fuels still make up the backbone of most Microgrid implementations.
The Net-Zero Carbon platform is based on XENDEE’s Microgrid design and operation software, which will act as the optimization engine, power flow simulation tool, and cloud-based Microgrid operator. XENDEE calculates the optimal time to make investment decisions, accounts for year over year changes in the financial and technological environment and can simulate the operation of the Microgrid at peak efficiency to meet organizational goals and resiliency requirements.
“Net-Zero Carbon Microgrids offer an exceptional solution to large public and private energy consumers, lifting the burden of centralized distribution, ensuring long-term energy security, and specifically addressing greenhouse gases as a priority parameter for technical design,”
Michael Stadler, CTO of XENDEE
As part of INL’s pre-project research, 25 functional requirements were identified as necessary for developing a Net Zero Carbon Microgrid Planning and Design Tool.
INL performed extensive pre-procurement market research and XENDEE was identified as the only solution with a comprehensive platform that met all the 25 requirements. XENDEE was also the only platform that offered integrated modeling for greenhouse gas emissions, which was vital to addressing carbon emissions as an essential part of the design process.
“XENDEE offered a single comprehensive tool for Microgrid design and modeling that efficiently optimizes design and investment, power flow simulations, and organizational goals to meet resiliency requirements and cost efficiency,” said Tim McJunkin, Ph.D., Distinguished Researcher in Power and Energy Systems. “Additionally, with modeling considerations for greenhouse gas emissions and a variety of energy generation technologies, we can harness a variety of solutions to offer sustainability without sacrificing resiliency and energy security. This is why we selected XENDEE, and now we are partnering with XENDEE.”
As part of this partnership, XENDEE will also be enhancing its software to model small modular nuclear reactors.
“With the ever-increasing demands on regional utilities, aging infrastructure, and rising fuel costs, Microgrids have a unique opportunity to meet the challenges of climate change and contribute to a carbon-free power delivery system without overburdening energy markets and consumers,” said Ning Kang, Ph.D., Department Manager of Power and Energy Systems at INL. “The addition of small nuclear reactor technology can offer a unique zero-carbon solution while also meeting the load requirements of large industrial facilities and military bases.”
To fully realize the new Net-Zero Carbon design tool for microgrids, INL and XENDEE will build upon the XENDEE platform to standardize design, research, investment, and decision support. XENDEE will also provide advanced training and continued project and feature support, including new technologies, as INL continues to verify the design tool through their Hardware-in-the-Loop system and perform onsite verification through public and private participants. INL’s technical report on Net-Zero Microgrids is available on the U.S. Department of Energy Office of Scientific and Technical Information website.
XENDEE develops world-class Microgrid decision support software that helps designers and investors optimize and certify the Fight-Through™ resilience and financial performance of projects with confidence. The XENDEE Microgrid platform enables a broad audience, from business decision-makers to scientists, to support investments in Microgrids and maintain electric power reliability when integrating renewable generation sources.
About Idaho National Laboratory
Battelle Energy Alliance manages INL for the U.S. Department of Energy’s Office of Nuclear Energy. INL is the nation’s center for nuclear energy research and development, and also performs research in each of DOE’s strategic goal areas: energy, national security, science and the environment.
AMP Robotics Corp | March 08, 2022
AMP Robotics Corp a pioneer in AI robotics, and infrastructure for the waste and recycling industry, has extended its partnership with Evergreen, one of North America’s three largest producers of food-grade recycled polyethylene terephthalate (rPET). Evergreen, which has grown through acquisitions to four locations across North America from its original facility in Clyde, Ohio, now has 15 of AMP’s robotic sorting systems guided by artificial intelligence installed or planned across three facilities. In addition to six robots in Clyde, Evergreen has added six in Riverside, California, and will soon add three in Albany, New York.
AMP’s technology identifies and sorts green and clear PET from post-consumer bales of plastic soft drink bottles at speeds up to three times faster and at a higher accuracy than manual sorters can achieve. Evergreen then recycles the material into reusable flakes or pellets, which it sells to end markets as feedstock for new containers and packaging.
“Evergreen is a leader in the transformation of recycling processes, and its application of AI-guided sortation is increasing plastic recycling rates and helping to close the loop on PET. Evergreen’s repeat orders of our systems is a testament to the operational benefits of our AI and automation solutions, and we’re proud to play a role in the company’s expansion and modernization efforts.”
Matanya Horowitz, founder and CEO of AMP Robotics
With AMP’s robots focused on refining the quality of material, separating plastics more precisely by color, Evergreen has seen a notable improvement in purity along with pick rates of up to 120 bottles per minute—an increase of up to 200%. The robots are removing up to 90% of contamination, on average, across different lines at Evergreen’s Clyde facility.
Thanks to its expansion and infrastructure investments, Evergreen’s annual capacity of rPET has swelled to more than 147 million pounds, up from 40 million pounds one year ago. Evergreen has also increased the number of post-consumer PET bottles it collects and recycles, from two billion PET bottles annually to 11.6 billion bottles.
“As a leader in the transition to recycled PET from virgin resin, the precision and accuracy of AI-enabled robotics has allowed us to better monitor material composition throughout our operation, increase capture, and ensure high quality in the rPET resin we produce,” said Greg Johnson, Evergreen general manager. “We want to recover all we can, and with AMP’s technology, we are—thereby helping to supply a higher-quality end product and a larger volume of recycled plastic for brands to source for their recycled content goals and sustainability commitments.”
In addition to PET, AMP’s AI platform precisely identifies and captures plastics including high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and polystyrene (PS), sorted further by color, clarity, and opacity, along with different form factors—lids, tubs, clamshells, cups, and more. AMP’s technology also recovers cardboard, paper, cans, cartons, and many other containers and packaging types reclaimed for raw material processing. It can quickly adapt to container packaging introduced into the recycling stream with recognition capabilities to the brand level—increasingly critical as demand for sufficient quantities of high-quality recycled material grows to meet consumer packaged goods companies’ commitment to use of post-consumer recycled content.
AMP has nearly 200 deployments in more than 80 facilities across three continents. Both AMP and Evergreen are sponsoring, exhibiting, and speaking at this week’s Plastics Recycling Conference, North America’s largest gathering of plastics recycling and sustainability professionals. Johnson will participate on a March 8 panel about how funding from the investment community has reshaped the plastics processing landscape, helping stakeholders meet end-consumer demand for sustainable products. On March 9, Chris Wirth, AMP’s vice president of marketing and government affairs, is moderating a session about recyclability labeling.
About AMP Robotics® Corp.
AMP Robotics is modernizing the world’s recycling infrastructure by applying AI and automation to increase recycling rates and economically recover recyclables reclaimed as raw materials for the global supply chain. The AMP Cortex™ high-speed robotics system automates the identification and sorting of recyclables from mixed material streams. The AMP Neuron™ AI platform continuously trains itself by recognizing different colors, textures, shapes, sizes, patterns, and even brand labels to identify materials and their recyclability. Neuron then guides robots to pick and place the material to be recycled. Designed to run 24/7, all of this happens at superhuman speed with extremely high accuracy. AMP Clarity™ provides data and material characterization on what recyclables are captured and missed, helping recycling businesses and producers maximize recovery. With deployments across North America, Asia, and Europe, AMP’s technology recovers recyclables from municipal collection, precious commodities from electronic scrap, and high-value materials from construction and demolition debris.
Established in 1998 with a single location in Clyde, Ohio, Evergreen is a recycling company and one of North America’s largest producers of food grade recycled polyethylene terephthalate (rPET), a recycled resin used as a green alternative to virgin resin in beverage bottles, food containers, health and beauty packaging, home products, and others. In 2021, Evergreen acquired three additional locations in Albany, New York; Amherst, Nova Scotia; and Riverside, California; and deployed AI-enabled robotics to transform its recycling practices. Evergreen is the preferred supplier of rPET to top global brands, helping customers increase recycled content in their packaging, keep plastic out of landfills and oceans, and meet sustainability and ESG goals. Evergreen is a proud member of the American Beverage Association, NAPCOR and the Association of Plastic Recyclers.