GUELPH, Ontario, March 29, 2018 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced the acquisition of a 97.6 MWp solar photovoltaic (PV) project in Cafayate, Salta Province, Argentina. The Cafayate Project was awarded in the second public renewable energy tender in Argentina (RenovAr 1.5), receiving a USD denominated 20-year Power Purchase Agreement at US$56.28/MWh. Canadian Solar plans to start construction on the plant in July 2018. Once connected to the grid by Q2 of 2019, the plant will generate approximately 235,777 MWh of electricity per year, which will be sold to CAMMESA (Compañ...
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OTTAWA, ONTARIO - March 26, 2018 – Thermal Energy International Inc. (“Thermal Energy” or the “Company”) (TSX-V: TMG), a global provider of industrial and institutional energy efficiency solutions, has received a $820 thousand order from a teaching hospital for one of the Company’s proprietary FLU-ACE® heat recovery systems. This system has been designed to significantly reduce the operating costs of the hospital as well as reduce the carbon footprint of the site. The project is expected to be completed and revenue earned over the next six months.
“This order is yet another example of why our hospital customers continue to choose Thermal Energy,” said William Crossland, CEO of Thermal Energy. “With best-in-class efficiency, high return on investment, and a 20-plus year track record, the FLU-ACE heat recovery systems are a proven solution for reducing operating costs and carbon emissions. By making hospitals greener and more energy efficient, hospitals can reallocate funds to where they matter most, providing excellent health care.
The FLU-ACE system will recover the energy from the waste heat generated in the flue gases of two gas-fired hot water boilers and an onsite cogeneration unit. The waste heat will be used to generate hot water for use in hydronic heating and domestic hot water. Once installed, the FLU-ACE system is expected to provide the teaching hospital with annual savings of approximately $220 thousand, while reducing greenhouse gas emissions by 1,007 tonnes per year.
About Thermal Energy International Inc.
Thermal Energy International Inc. is an established global supplier of proprietary, proven energy efficiency and emissions reduction solutions to the industrial and institutional sectors. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.
Thermal Energy is also a fully accredited professional engineering firm and by providing a unique mix of proprietary products together with process, energy and, environmental engineering expertise, Thermal Energy is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers.
Thermal Energy's proprietary products include; GEMTM - Steam traps, FLU-ACE® - Direct contact condensing heat recovery, and Dry-Rex® - Low temperature biomass drying systems.
Thermal Energy International Inc. has offices in Ottawa, Canada as well as Bristol, U.K., United States, Germany, Italy and China. The Company’s common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG.
For more information, visit the Company's website at www.thermalenergy.com and follow them on Twitter at http://twitter.com/GoThermalEnergy.
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This press release contains forward-looking statements relating to, and amongst other things, based on management’s expectations, estimates and projections, the anticipated effectiveness of the Company’s products and services and the timing of revenues to be received by the Company. Information as to the amount of heat recovered, energy savings and payback period associated with Thermal Energy International’s products are based on the Company’s own testing and average customer results to date. Statements relating to the expected installation and revenue recognition for projects, statements about the anticipated effectiveness and lifespan of the Company’s products, statements about the expected environmental effects and cost savings associated with the Company’s products and statements about the Company’s ability to cross-sell its products and sell to more sites are forward looking statements. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, some of which are outside of the Company’s control, could cause events and results to differ materially from those stated. Fulfilment of orders, installation of product and activation of product could all be delayed for a number of reasons, some of which are outside of the Company’s control, which would result in anticipated revenues from such projects being delayed or in the most serious cases eliminated. Actions taken by the Company’s customers and factors inherent in the customer’s facilities but not anticipated by the Company can have a negative impact on the expected effectiveness and lifespan of the Company’s products and on the expected environmental effects and cost savings expected from the Company’s products. Any customer’s willingness to purchase additional products from the Company is dependent on many factors, some of which are outside of the Company’s control, including but not limited to the customer’s perceived needs and the continuing financial viability of the customer. The Company disclaims any obligation to publicly update or revise any such statements except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Seasoned Executive Marc Beisheim to take Helm May 11, 2018
Mississauga, Ontario – March 23, 2018 – Hydrogenics Corporation (NASDAQ: HYGS; TSX: HYG) (“Hydrogenics” or “the Company”), a leading developer and manufacturer of hydrogen generation and hydrogen-based power modules, today announced that Bob Motz, the Company’s Corporate Secretary and Chief Financial Officer, has decided to retire from Hydrogenics effective May 11, 2018.
The Company also announced that Marc Beisheim has been appointed as Mr. Motz’s successor. Mr. Beisheim brings over 30 years’ experience to Hydrogenics, including within both the industrial and energy fields. He is a Chartered Professional Accountant (CPA, CA) who started his career with KPMG and was most recently Chief Financial Officer at The Canadian Press.
“We wish Bob all the success that retirement will bring him and thank him for his many years of service to Hydrogenics,” said Daryl Wilson, Hydrogenics President & Chief Executive Officer. “We are also delighted to welcome Marc to the Hydrogenics family. Marc’s professional acumen, industry expertise, and leadership skills will complement our management team and help position us for our expected future growth trajectory and improving financial performance.”
Mr. Beisheim will join the Company effective Monday, April 9 and assume the role of Corporate Secretary & Chief Financial Officer effective Friday May 11.
Hydrogenics Corporation is a world leader in engineering and building the technologies required to enable the acceleration of a global power shift. Headquartered in Mississauga, Ontario, Hydrogenics provides hydrogen generation, energy storage and hydrogen power modules to its customers and partners around the world. Hydrogenics has manufacturing sites in Germany, Belgium and Canada and service centers in Russia, Europe, the US and Canada.
Source: Hydrogenics Corporation
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THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
VANCOUVER, CANADA, March 19, 2018 – Legend Power Systems Inc. (TSXV:LPS) (“Legend Power” or the “Company”), a global leader in voltage reduction and management technology, announced today that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (collectively, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase on a bought deal basis, 12,500,000 common shares (the “Shares”) of the Company, at a price of $0.80 per Share (the “Offering Price”) for aggregate gross proceeds to LPS of approximately $10.0 million (the “Offering”).
The net proceeds of the Offering will be used to fuel high-growth initiatives including, but not limited to, the following:
“We are committed to rolling-out our propriety energy conservation and cost savings solution to additional geographic territories,” commented Randy Buchamer, CEO & Director of Legend Power. “On closing of this financing, Legend anticipates having in excess of $15 million in working capital to execute our aggressive business plan. We will replicate our proven model for success in targeted US regions to help building owners use less energy and save on operating costs by eliminating overvoltage.”
The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 1,250,000 Shares at the Offering Price, exercisable in whole or in part, on or after the closing of the Offering and for a period of up to 30 days thereafter to cover over-allotments, if any, and for market stabilization purposes. If this option is exercised in full, an additional $1.0 million will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $11.0 million.
The Shares will be offered by way of a short form prospectus to be filed in all of the provinces and territories of Canada. The Shares will also be sold to U.S. buyers on a private placement basis pursuant to an exemption from the registration requirements in Rule 144A of the United States Securities Act of 1933, as amended and in certain other jurisdictions. The Offering is expected to close on or about April 5, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange and the applicable securities regulatory authorities.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is changing the way buildings around the world use power. The company’s patented and proprietary technology reduces overvoltage, a natural condition present in power grids around the world. Overvoltage inflates energy costs, damages electrical equipment, and increases the negative impact a building has on the environment. Legend’s utility-proven Harmonizer improves the power efficiency of an entire building to reduce total energy consumption and power costs, while maximizing equipment life. The solution provides customers risk free energy savings, improves the value of their physical assets, and enhances their sustainability efforts. As an application with demand side benefits, Legend is also a key contributor toward utility conservation goals. In 2015 Legend was recognized as the top performing cleantech company on the TSX Venture Exchange.
For further information, please contact:
Randy Buchamer, CEO and President
+ 1 778 945 1501
Sean Peasgood, Investor Relations
+ 1 416 565 2805
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This Press Release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company’s quarterly and annual Management’s Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements other than as may be required by applicable law.
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PyroGenesis Announces Significant Development: PyroGenesis Additive Can Now Offer Tungsten-Free Titanium Powders (Anglais seulement)
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PyroGenesis Announces Significant Development: PyroGenesis Additive Can Now Offer Tungsten-Free Titanium Powders
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GUELPH, Ontario, March 19, 2018 /PRNewswire/ -- Canadian Solar Inc. ("Canadian Solar" or the "Company") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced its financial results for the fourth quarter and full year ended December 31, 2017. Fourth Quarter 2017 and Related Highlights Total solar module shipments were 1,831 MW, compared to 1,870 MW in the third quarter of 2017, and fourth quarter guidance in the range of 1,720 MW to 1,820 MW. Net revenue was $1.11 billion, compared to $912.2 million in the third quarter of 2017, and fourth quarter 2017 guidance in the range of $1.04 billion to $1.08 billion. Net revenue from the total soluti...
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GUELPH, Ontario, March 14, 2018 /PRNewswire/ -- Canadian Solar Inc. (the "Company", or "Canadian Solar") (NASDAQ: CSIQ), one of the world's largest solar power companies, today announced that it successfully completed construction and started commercial operation of a 6 MWp solar photovoltaic (PV) power project in Keetmanshoop, Namibia. The project reached commercial operation on November 27, 2017. Powered by 18,480 Canadian Solar's CS6U modules, the plant is expected to generate approximately 14.6 GWh of clean, reliable solar electricity each year, which will be purchased by Namibia Power Corporation (Proprietary) Ltd. under a 25-year Renewable Energy feed-in-tariff (REFIT) contract at ...
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