Release – Energy Fuels Announces Q2-2021 Results

 

 


Energy Fuels Announces Q2-2021 Results, Including Robust Balance Sheet, Market Leading U.S. Uranium and Vanadium Position & Launch of U.S. Commercial Rare Earth Production; Webcast on August 3, 2021

 

LAKEWOOD, Colo.July 30, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) today reported its financial results for the quarter ended June 30, 2021. The Company’s quarterly report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission (“SEC“) and may be viewed on the Electronic Document Gathering and Retrieval System (“EDGAR“) at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval (“SEDAR“) at www.sedar.com, and on the Company’s website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights:

  • At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory. At current commodity prices, the Company’s inventory has a value of $39.1 million.
  • During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, which included a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million resulting from a significant increase in the Company’s share price.
  • With several existing uranium mines on standby and significant existing inventories of Company-produced, U.S.-origin uranium, the Company continues to be ready to supply uranium into improved global markets and the proposed U.S. Uranium Reserve once it is established by the U.S. government.
  • During the first half of 2021, the Company began ramping up to commercial-scale production of a mixed rare earth element (“REE”) carbonate (“RE Carbonate”), as a complement to its uranium business. In July 2021, Energy Fuels commenced deliveries of its RE Carbonate to a separation facility in Europe.
  • The Company has entered into a definitive agreement to sell a package of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado to International Consolidated Uranium Inc. (“CUR”). Based on CUR’s current share price, exchange rates and assuming the closing and full performance of the agreement, the current proforma value of this divestment is approximately US$24 million.
  • The Company has entered into a strategic alliance agreement with RadTran, LLC, a private technology development company, to evaluate the recovery of thorium and potentially radium from the Company’s RE Carbonate and uranium process streams, as a complement to its uranium and RE Carbonate businesses, for use in the production of medical isotopes for emerging targeted alpha therapy (“TAT“) cancer therapeutics.

Mark S. Chalmers, Energy Fuels’ President and CEO, stated:

“Energy Fuels achieved another significant milestone in restoring U.S. rare earth supply chains when we recently announced the successful production of rare earth carbonate from U.S.-sourced natural monazite sand at our White Mesa Mill. We are also very excited about our recently announced Strategic Alliance with RadTran, which has the potential to help produce isotopes from our existing RE Carbonate and uranium process streams for use in cancer therapeutics that can improve human health and ultimately save lives. These two initiatives, which are complementary to our core uranium business, are examples of the unique and valuable capabilities of the White Mesa Mill.

“We also announced the sale of several non-core conventional uranium assets to International Consolidated Uranium. These are licensed uranium assets, with excellent production track-records. But we don’t think markets value these assets appropriately within our portfolio. With this accretive disposition, we hope to unlock value in these excellent assets for our shareholders.

“The outlook for uranium also continues to improve, vanadium markets are strengthening and REE prices continue to exhibit strength. With three fully licensed uranium processing centers — the White Mesa Mill and the Nichols Ranch and Alta Mesa in situ recovery facilities — the largest NI 43-101 resource portfolio among U.S. uranium producers, and almost 700,000 pounds of U.S.-produced U3O8 in inventory, the Company remains well-positioned to benefit from a strengthening uranium market and the proposed U.S. Uranium Reserve once it is established by the U.S. government. But what I find most exciting about all this is that not only do we have excellent optionality and exposure to improved uranium markets, we are also leveraging our existing uranium assets to give the Company and our shareholders exposure to vanadium, REEs and potentially medical isotope markets, all as complements to our primary uranium business. Each of these complementary businesses could develop into a significant business for the Company in its own right and bodes well for our quickly developing “Critical Minerals Hub” in the U.S.”

Webcast on Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT):

Energy Fuels will be hosting a video webcast Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT) to discuss its Q2-2021 financial results, rare earth production and other corporate initiatives. To join the webcast and access the presentation and the viewer-controlled webcast slides, please click on the link below:

Energy Fuels Q2-2021 Results Webcast

If you would like to participate in the webcast and ask questions, please dial in to (888) 664-6392 (toll free in the U.S. and Canada).

A link to a recorded version of the proceedings will be available on the Company’s website shortly after the webcast by calling (888) 390-0541 (toll free in the U.S. and Canada) and by entering the code 679255#. The recording will be available until August 17, 2021.

Selected Summary Financial Information:




$000’s, except per share data

Six months ended June 30,
2021

Six months ended June 30,
2020




Total revenues

$

809

$

788

Gross profit (loss)

809

(718)

Operating Loss

(17,189)

(14,276)

Net income (loss) attributable to the company

(21,692)1

(13,844)

Basic and diluted loss per share

(0.15)1

(0.12)




$000’s

As at June 30, 2021

As at December 31, 2020




Financial Position:



Working capital

$

98,773

$

40,158

Property, plant and equipment, net

22,819

23,621

Mineral properties, net

83,539

83,539

Total assets

242,180

183,236

Total long-term liabilities

13,852

13,376

1.

Net loss and loss per share for the six months ending June 30, 2021 include a non-cash mark-to-market increase in warrant liabilities of $7.05 million, as a result of a significant increase in the Company’s share price during that period. Net loss and loss per share for the six months ending June 30, 2020 include a non-cash mark-to-market decrease in warrant liabilities of $0.1 million, as a result of an insignificant decrease in the Company’s share price during that period.

Financial Discussion:

At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory, including approximately 691,000 pounds of uranium and 1,672,000 pounds of high-purity vanadium, both in the form of immediately marketable product. The current spot price of U3O8, according to TradeTech, is $32.50 per pound (up 7% in 2021), and the current mid-point spot price of V2O5, according to Metal Bulletin, is $9.88 per pound (up 83% in 2021). Based on those spot prices, the Company’s uranium and vanadium inventories have a current market value of $22.5 million and $16.5 million, respectively, totaling $39.0 million.

During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, compared to a net loss of $8.2 million for the second quarter of 2020, and a net loss of $21.7 million year-to-date compared to $13.8 million during the first six months of 2020. The increased net losses in 2021 are due primarily to increased development expenditures incurred in ramping up our RE Carbonate production at the White Mesa Mill in Utah (the “Mill“) and a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million and $7.1 million year to date, resulting from an increase in the Company’s share price.

Commencement of Rare Earth Carbonate Deliveries in 2021:

On July 7, 2021, the Company and Neo Performance Materials Inc. (“Neo”) jointly announced that the first container (approximately 20 tonnes of product) of an expected first run of 15 containers of RE Carbonate was successfully produced by Energy Fuels at the Mill and is en route to Neo’s Silmet rare earth separations facility in Estonia, creating a new United States-to-Europe rare earth supply chain.

Monazite sand is widely recognized as one of the most valuable rare earth minerals in the World, due to its superior distributions of magnetic REEs needed for various clean energy, defense and other advanced technologies. Natural monazite sand is currently recovered as a low-cost byproduct of heavy mineral sand (“HMS”) operations in the U.S. and elsewhere in the world. The historic challenge with monazite is that it contains higher concentrations of natural uranium, thorium and other radionuclides relative to other minerals, thereby requiring specific licenses and specialized technical capabilities to handle and process. Energy Fuels currently holds the required licenses, and we have developed the ability to unlock the value of this domestic resource over the past 20+ years of recycling numerous feeds for the recovery of uranium. Energy Fuels’ commercial-scale production of RE Carbonate from U.S.-mined natural monazite sand positions Energy Fuels as the only company in North America currently producing a monazite-derived, enhanced rare earth material.

The Company and Neo also announced the signing of a definitive supply agreement under which Energy Fuels will ship all or a portion of its RE Carbonate to Neo’s Silmet facility for processing into separated rare earth materials used in rare earth permanent magnets and other rare earth-based advanced materials. We believe Energy Fuels is well on its way to creating a new, low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights, that allows for source validation and tracking from mining through final end-use applications for manufacturers in North AmericaEuropeJapan and other nations.

We are currently scoping the potential to produce separated REE oxides using proven solvent extraction (“SX”) technology that we have utilized for the recovery of uranium and vanadium over the past 40+ years. We are also evaluating moving farther down the REE supply chain to produce certain rare earth metals, alloys and other products.

Sale of Non-Core Conventional Assets to International Consolidated Uranium Inc:

On July 15, 2021, the Company and International Consolidated Uranium Inc. (“CUR”) jointly announced the signing of a definitive asset purchase agreement under which CUR will acquire a portfolio of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado, including the Daneros mine, the Tony M mine, the Rim mine, the Sage Plain project, and several U.S. Department of Energy leases. In addition, at closing the Company and CUR will enter into toll-milling and operating agreements with respect to the properties. The consideration payable by CUR to Energy Fuels includes US$2 million cash payable at closing, such number of shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing, Cdn$6 million of deferred cash payable over time, and up to Cdn$5 million of deferred cash payable on the commencement of commercial production at the properties. Through this accretive disposition, Energy Fuels believes the value of these high-quality, permitted, and past-producing mines can be unlocked for Company shareholders, while also cutting standby costs, earning management fees, and potentially realizing toll milling fees in the future. Based on the current CUR share price, exchange rates and assuming the closing and full performance of the agreement, the proforma value of this divestment is approximately US$24 million.

Collaboration with RadTran, LLC on Recovering Medical Isotopes for Advanced Cancer Therapies:

On July 28, 2021, the Company announced the execution of a Strategic Alliance Agreement with RadTran, LLC, a technology development company focused on closing critical gaps in the procurement of medical isotopes for emerging targeted alpha therapy (“TAT”) cancer therapeutics and other applications. Under this strategic alliance, the Company will evaluate the feasibility of recovering Th-232, and potentially Ra-226 from its existing uranium and RE Carbonate process streams at the Mill and, together with RadTran evaluate the feasibility of recovering Ra-228 from the Th-232 and Th-228 from the Ra-228 at the Mill using RadTran technologies. The recovered Ra-228, Th-228 and potentially Ra-226 would then be sold to pharmaceutical companies and others to produce Pb-212, Ac-225, Bi-213, Ra-224 and Ra-223, which are the leading medically attractive TAT isotopes for the treatment of cancer. Existing supplies of these isotopes for TAT applications are in short supply, and methods of production are costly and currently cannot be scaled to meet the demand as new drugs are developed and approved. This is a major roadblock in the research and development of new TAT drugs as pharmaceutical companies wait for scalable and affordable production technologies to become available. Under this exciting initiative, the Company has the potential to recycle valuable isotopes from its existing process streams, that would otherwise be lost to disposal, for use in the treatment of cancer.

Market Conditions

The outlook for uranium continues to improve, as demand continues to outpace supplies and uranium juniors and financial intermediaries enter the market to purchase uranium and build inventories. The weekly spot price for uranium has increased 4% from $31.25 to $32.50 per pound during the quarter and 7% from $30.40 to $32.50 during the first six months of 2021. The spot price of uranium is currently at $32.50 per pound as of July 23, 2021. Energy Fuels holds 691,000 pounds of U.S.-origin uranium in inventory that we recently produced at our own facilities in the U.S. through our low-cost alternate feed material production, which is among the lowest-cost uranium production in the world today.

Vanadium markets are also strengthening. An improving global economy, coupled with political unrest in South Africa and other factors, has caused vanadium prices to rise 83% this year, from $5.40 per pound as of December 25, 2020 to $8.75 per pound as of June 25, 2021 to $9.88 per pound as of July 30, 2021. Vanadium is a valuable clean energy metal, historically used in steel, master alloys, and chemicals. It is also seeing considerable interest in emerging grid-scale battery technologies used to store renewable energy. Energy Fuels also holds about 1.7 million pounds of finished high-purity vanadium pentoxide in inventory, plus 1.5 to 3.0 million pounds of solubilized vanadium inventory in the Mill’s tailings solutions that we can recover relatively quickly. We also hold large quantities of high-grade vanadium resources at our standby mines where we recently developed new mining techniques that we believe can increase production and lower costs when mining resumes in the future. The Mill was the largest U.S. vanadium producer as recently as 2019.

Finally, REE prices continue to be strong, with the price of NdPr increasing 48% year to date from $78.50/kg on January 4, 2021 to $116.00/kg on July 30, 2021 and 118% from $53.3/kg on July 27, 2020 to date. The Company’s sales price for its RE Carbonate is currently based on the prices of REE oxides, with the price of NdPr being the primary driver of the Company’s RE Carbonate sales price at this time.

Operations Update and Outlook for Period Ending June 30, 2021

Overview

Although the outlook for uranium continues to improve, uranium prices have not risen enough to date to justify uranium production at the Company’s mines and ISR facilities at this time. As a result, uranium recovery is expected to be maintained at reduced levels at current uranium price levels, until such time when market conditions improve sufficiently or the U.S. government buys uranium from the Company following the establishment of the proposed U.S. Uranium Reserve.

The Company will continue to seek new sources of revenue, including through its emerging REE business, as well as new sources of alternate feed materials and new fee processing opportunities at the Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). The Company is also seeking new sources of natural monazite sands for its emerging rare earth business, and continues its support of U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of a U.S. Uranium Reserve.

Extraction and Recovery Activities Overview

During the six months ended June 30, 2021, the Company did not recover significant quantities of U3O8, and expects to package insignificant quantities of U3Ofor the remainder of 2021, focusing instead on ramping up and optimizing its RE Carbonate production. This is a reduction from previous guidance of 30,000 to 60,000 pounds of uranium production in 2021. All uranium recovered during 2021 at the Mill is expected to be retained in-circuit at the Mill and not to be packaged in 2021. The Company does not plan to extract and/or recover any amounts of uranium of any significance from its Nichols Ranch Project in 2021, which was placed on standby in the second quarter of 2020 due to the depletion of its existing wellfields. In addition, the Company expects to keep the Alta Mesa Project and its conventional mining properties on standby during 2021.

The Company expects to recover approximately 700 to 1,100 tonnes of RE Carbonate at the Mill in 2021, containing approximately 350 to 550 tonnes of total rare earth oxides (“TREO“), subject to receipt of sufficient quantities of monazite. This is a reduction from previous guidance of 2,000 to 3,000 tons (1,814 to 2,721 tonnes) of RE Carbonate, containing approximately 1,000 to 1,600 tons (907 to 1,451 tonnes) of TREO, in 2021, due to what the Company expects to be a short-term delay in supply of monazite sands to the Mill under the Company’s existing supply agreement. The Company expects to produce no vanadium during the 2021 year.

The Company has strategically opted not to enter into any uranium sales commitments for 2021. Therefore, subject to the proposed establishment of a U.S. Uranium Reserve and general market conditions, existing inventories are expected to remain unchanged at approximately 691,000 pounds of U3O8 at year-end. All V2O5 inventory is expected to be sold on the spot market if prices rise sufficiently above current levels, but otherwise maintained in inventory. The Company expects to sell all or a portion of its RE Carbonate to Neo Performance materials or other global separation facilities and/or to stockpile it for future separation at the Mill or elsewhere.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of RE Carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain “Forward Looking Information” and “Forward Looking Statements” within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; costs of production; any expectation that the Company will continue to be ready to supply uranium into the proposed U.S. Uranium Reserve once it is established; scalability, and the Company’s ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions or in response to the proposed Uranium Reserve; any expectation regarding any remaining dissolved vanadium in the White Mesa Mill’s tailings facility solutions; any expectation that the Company’s recently developed mining techniques can increase production and lower costs when vanadium mining resumes in the future; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company’s expectations as to longer term fundamentals in the market and price projections; any expectation that the Company will maintain its position as a leading uranium company in the United States; any expectation that the proposed Uranium Reserve will be implemented and if implemented the manner in which it will be implemented and the timing of implementation; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate on a commercial basis; any expectation that Neo will be successful in separating the Mill’s RE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise; any expectation that the Company and Neo will be successful in jointly developing a fully integrated U.S.-European REE supply chain; any expectation that the Company will be successful in building a low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights; any expectation with respect to the future demand for REEs; any expectation with respect to the quantities of monazite ore to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill’s RE Carbonate; any expectation that the Company’s evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of medical isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; and any expectation that the Company’s agreement to sell certain of its non-core properties to CUR will complete as contemplated or at all, or as to the proforma value of this divestment to the Company. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects,” “does not expect,” “is expected,” “is likely,” “budgets,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” “does not anticipate,” or “believes,” or variations of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur,” “be achieved” or “have the potential to.” All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of alternate feed materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; the appropriations for the proposed Uranium Reserve not being allocated to that program and the Uranium Reserve not being implemented; the manner in which the proposed Uranium Reserve, if established, will be implemented; the Company not being successful in selling any uranium into the proposed Uranium Reserve at acceptable quantities or prices, or at all; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate thorium and potentially radium at reasonable costs or at all; the ability of the Company and RadTran to be able to recover other isotopes from thorium and radium recovered at the Mill at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption “Risk Factors” in the Company’s most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company’s website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: Investor Inquiries: Energy Fuels Inc., Curtis Moore, VP – Marketing and Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com, www.energyfuels.com

Energy Fuels Announces Q2-2021 Results

 

 


Energy Fuels Announces Q2-2021 Results, Including Robust Balance Sheet, Market Leading U.S. Uranium and Vanadium Position & Launch of U.S. Commercial Rare Earth Production; Webcast on August 3, 2021

 

LAKEWOOD, Colo.July 30, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) today reported its financial results for the quarter ended June 30, 2021. The Company’s quarterly report on Form 10-Q has been filed with the U.S. Securities and Exchange Commission (“SEC“) and may be viewed on the Electronic Document Gathering and Retrieval System (“EDGAR“) at www.sec.gov/edgar.shtml, on the System for Electronic Document Analysis and Retrieval (“SEDAR“) at www.sedar.com, and on the Company’s website at www.energyfuels.com. Unless noted otherwise, all dollar amounts are in U.S. dollars.

Highlights:

  • At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory. At current commodity prices, the Company’s inventory has a value of $39.1 million.
  • During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, which included a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million resulting from a significant increase in the Company’s share price.
  • With several existing uranium mines on standby and significant existing inventories of Company-produced, U.S.-origin uranium, the Company continues to be ready to supply uranium into improved global markets and the proposed U.S. Uranium Reserve once it is established by the U.S. government.
  • During the first half of 2021, the Company began ramping up to commercial-scale production of a mixed rare earth element (“REE”) carbonate (“RE Carbonate”), as a complement to its uranium business. In July 2021, Energy Fuels commenced deliveries of its RE Carbonate to a separation facility in Europe.
  • The Company has entered into a definitive agreement to sell a package of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado to International Consolidated Uranium Inc. (“CUR”). Based on CUR’s current share price, exchange rates and assuming the closing and full performance of the agreement, the current proforma value of this divestment is approximately US$24 million.
  • The Company has entered into a strategic alliance agreement with RadTran, LLC, a private technology development company, to evaluate the recovery of thorium and potentially radium from the Company’s RE Carbonate and uranium process streams, as a complement to its uranium and RE Carbonate businesses, for use in the production of medical isotopes for emerging targeted alpha therapy (“TAT“) cancer therapeutics.

Mark S. Chalmers, Energy Fuels’ President and CEO, stated:

“Energy Fuels achieved another significant milestone in restoring U.S. rare earth supply chains when we recently announced the successful production of rare earth carbonate from U.S.-sourced natural monazite sand at our White Mesa Mill. We are also very excited about our recently announced Strategic Alliance with RadTran, which has the potential to help produce isotopes from our existing RE Carbonate and uranium process streams for use in cancer therapeutics that can improve human health and ultimately save lives. These two initiatives, which are complementary to our core uranium business, are examples of the unique and valuable capabilities of the White Mesa Mill.

“We also announced the sale of several non-core conventional uranium assets to International Consolidated Uranium. These are licensed uranium assets, with excellent production track-records. But we don’t think markets value these assets appropriately within our portfolio. With this accretive disposition, we hope to unlock value in these excellent assets for our shareholders.

“The outlook for uranium also continues to improve, vanadium markets are strengthening and REE prices continue to exhibit strength. With three fully licensed uranium processing centers — the White Mesa Mill and the Nichols Ranch and Alta Mesa in situ recovery facilities — the largest NI 43-101 resource portfolio among U.S. uranium producers, and almost 700,000 pounds of U.S.-produced U3O8 in inventory, the Company remains well-positioned to benefit from a strengthening uranium market and the proposed U.S. Uranium Reserve once it is established by the U.S. government. But what I find most exciting about all this is that not only do we have excellent optionality and exposure to improved uranium markets, we are also leveraging our existing uranium assets to give the Company and our shareholders exposure to vanadium, REEs and potentially medical isotope markets, all as complements to our primary uranium business. Each of these complementary businesses could develop into a significant business for the Company in its own right and bodes well for our quickly developing “Critical Minerals Hub” in the U.S.”

Webcast on Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT):

Energy Fuels will be hosting a video webcast Tuesday, August 3, 2021 at 4:00 pm ET (2:00 pm MT) to discuss its Q2-2021 financial results, rare earth production and other corporate initiatives. To join the webcast and access the presentation and the viewer-controlled webcast slides, please click on the link below:

Energy Fuels Q2-2021 Results Webcast

If you would like to participate in the webcast and ask questions, please dial in to (888) 664-6392 (toll free in the U.S. and Canada).

A link to a recorded version of the proceedings will be available on the Company’s website shortly after the webcast by calling (888) 390-0541 (toll free in the U.S. and Canada) and by entering the code 679255#. The recording will be available until August 17, 2021.

Selected Summary Financial Information:




$000’s, except per share data

Six months ended June 30,
2021

Six months ended June 30,
2020




Total revenues

$

809

$

788

Gross profit (loss)

809

(718)

Operating Loss

(17,189)

(14,276)

Net income (loss) attributable to the company

(21,692)1

(13,844)

Basic and diluted loss per share

(0.15)1

(0.12)




$000’s

As at June 30, 2021

As at December 31, 2020




Financial Position:



Working capital

$

98,773

$

40,158

Property, plant and equipment, net

22,819

23,621

Mineral properties, net

83,539

83,539

Total assets

242,180

183,236

Total long-term liabilities

13,852

13,376

1.

Net loss and loss per share for the six months ending June 30, 2021 include a non-cash mark-to-market increase in warrant liabilities of $7.05 million, as a result of a significant increase in the Company’s share price during that period. Net loss and loss per share for the six months ending June 30, 2020 include a non-cash mark-to-market decrease in warrant liabilities of $0.1 million, as a result of an insignificant decrease in the Company’s share price during that period.

Financial Discussion:

At June 30, 2021, the Company had $98.8 million of working capital, including $79.4 million of cash and marketable securities and $29.2 million of inventory, including approximately 691,000 pounds of uranium and 1,672,000 pounds of high-purity vanadium, both in the form of immediately marketable product. The current spot price of U3O8, according to TradeTech, is $32.50 per pound (up 7% in 2021), and the current mid-point spot price of V2O5, according to Metal Bulletin, is $9.88 per pound (up 83% in 2021). Based on those spot prices, the Company’s uranium and vanadium inventories have a current market value of $22.5 million and $16.5 million, respectively, totaling $39.0 million.

During the quarter ended June 30, 2021, the Company incurred a net loss of $10.8 million, compared to a net loss of $8.2 million for the second quarter of 2020, and a net loss of $21.7 million year-to-date compared to $13.8 million during the first six months of 2020. The increased net losses in 2021 are due primarily to increased development expenditures incurred in ramping up our RE Carbonate production at the White Mesa Mill in Utah (the “Mill“) and a non-cash mark-to-market increase in warrant liabilities during the quarter of $3.6 million and $7.1 million year to date, resulting from an increase in the Company’s share price.

Commencement of Rare Earth Carbonate Deliveries in 2021:

On July 7, 2021, the Company and Neo Performance Materials Inc. (“Neo”) jointly announced that the first container (approximately 20 tonnes of product) of an expected first run of 15 containers of RE Carbonate was successfully produced by Energy Fuels at the Mill and is en route to Neo’s Silmet rare earth separations facility in Estonia, creating a new United States-to-Europe rare earth supply chain.

Monazite sand is widely recognized as one of the most valuable rare earth minerals in the World, due to its superior distributions of magnetic REEs needed for various clean energy, defense and other advanced technologies. Natural monazite sand is currently recovered as a low-cost byproduct of heavy mineral sand (“HMS”) operations in the U.S. and elsewhere in the world. The historic challenge with monazite is that it contains higher concentrations of natural uranium, thorium and other radionuclides relative to other minerals, thereby requiring specific licenses and specialized technical capabilities to handle and process. Energy Fuels currently holds the required licenses, and we have developed the ability to unlock the value of this domestic resource over the past 20+ years of recycling numerous feeds for the recovery of uranium. Energy Fuels’ commercial-scale production of RE Carbonate from U.S.-mined natural monazite sand positions Energy Fuels as the only company in North America currently producing a monazite-derived, enhanced rare earth material.

The Company and Neo also announced the signing of a definitive supply agreement under which Energy Fuels will ship all or a portion of its RE Carbonate to Neo’s Silmet facility for processing into separated rare earth materials used in rare earth permanent magnets and other rare earth-based advanced materials. We believe Energy Fuels is well on its way to creating a new, low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights, that allows for source validation and tracking from mining through final end-use applications for manufacturers in North AmericaEuropeJapan and other nations.

We are currently scoping the potential to produce separated REE oxides using proven solvent extraction (“SX”) technology that we have utilized for the recovery of uranium and vanadium over the past 40+ years. We are also evaluating moving farther down the REE supply chain to produce certain rare earth metals, alloys and other products.

Sale of Non-Core Conventional Assets to International Consolidated Uranium Inc:

On July 15, 2021, the Company and International Consolidated Uranium Inc. (“CUR”) jointly announced the signing of a definitive asset purchase agreement under which CUR will acquire a portfolio of Energy Fuels’ non-core conventional uranium projects located in Utah and Colorado, including the Daneros mine, the Tony M mine, the Rim mine, the Sage Plain project, and several U.S. Department of Energy leases. In addition, at closing the Company and CUR will enter into toll-milling and operating agreements with respect to the properties. The consideration payable by CUR to Energy Fuels includes US$2 million cash payable at closing, such number of shares that results in Energy Fuels holding 19.9% of the outstanding CUR common shares immediately after closing, Cdn$6 million of deferred cash payable over time, and up to Cdn$5 million of deferred cash payable on the commencement of commercial production at the properties. Through this accretive disposition, Energy Fuels believes the value of these high-quality, permitted, and past-producing mines can be unlocked for Company shareholders, while also cutting standby costs, earning management fees, and potentially realizing toll milling fees in the future. Based on the current CUR share price, exchange rates and assuming the closing and full performance of the agreement, the proforma value of this divestment is approximately US$24 million.

Collaboration with RadTran, LLC on Recovering Medical Isotopes for Advanced Cancer Therapies:

On July 28, 2021, the Company announced the execution of a Strategic Alliance Agreement with RadTran, LLC, a technology development company focused on closing critical gaps in the procurement of medical isotopes for emerging targeted alpha therapy (“TAT”) cancer therapeutics and other applications. Under this strategic alliance, the Company will evaluate the feasibility of recovering Th-232, and potentially Ra-226 from its existing uranium and RE Carbonate process streams at the Mill and, together with RadTran evaluate the feasibility of recovering Ra-228 from the Th-232 and Th-228 from the Ra-228 at the Mill using RadTran technologies. The recovered Ra-228, Th-228 and potentially Ra-226 would then be sold to pharmaceutical companies and others to produce Pb-212, Ac-225, Bi-213, Ra-224 and Ra-223, which are the leading medically attractive TAT isotopes for the treatment of cancer. Existing supplies of these isotopes for TAT applications are in short supply, and methods of production are costly and currently cannot be scaled to meet the demand as new drugs are developed and approved. This is a major roadblock in the research and development of new TAT drugs as pharmaceutical companies wait for scalable and affordable production technologies to become available. Under this exciting initiative, the Company has the potential to recycle valuable isotopes from its existing process streams, that would otherwise be lost to disposal, for use in the treatment of cancer.

Market Conditions

The outlook for uranium continues to improve, as demand continues to outpace supplies and uranium juniors and financial intermediaries enter the market to purchase uranium and build inventories. The weekly spot price for uranium has increased 4% from $31.25 to $32.50 per pound during the quarter and 7% from $30.40 to $32.50 during the first six months of 2021. The spot price of uranium is currently at $32.50 per pound as of July 23, 2021. Energy Fuels holds 691,000 pounds of U.S.-origin uranium in inventory that we recently produced at our own facilities in the U.S. through our low-cost alternate feed material production, which is among the lowest-cost uranium production in the world today.

Vanadium markets are also strengthening. An improving global economy, coupled with political unrest in South Africa and other factors, has caused vanadium prices to rise 83% this year, from $5.40 per pound as of December 25, 2020 to $8.75 per pound as of June 25, 2021 to $9.88 per pound as of July 30, 2021. Vanadium is a valuable clean energy metal, historically used in steel, master alloys, and chemicals. It is also seeing considerable interest in emerging grid-scale battery technologies used to store renewable energy. Energy Fuels also holds about 1.7 million pounds of finished high-purity vanadium pentoxide in inventory, plus 1.5 to 3.0 million pounds of solubilized vanadium inventory in the Mill’s tailings solutions that we can recover relatively quickly. We also hold large quantities of high-grade vanadium resources at our standby mines where we recently developed new mining techniques that we believe can increase production and lower costs when mining resumes in the future. The Mill was the largest U.S. vanadium producer as recently as 2019.

Finally, REE prices continue to be strong, with the price of NdPr increasing 48% year to date from $78.50/kg on January 4, 2021 to $116.00/kg on July 30, 2021 and 118% from $53.3/kg on July 27, 2020 to date. The Company’s sales price for its RE Carbonate is currently based on the prices of REE oxides, with the price of NdPr being the primary driver of the Company’s RE Carbonate sales price at this time.

Operations Update and Outlook for Period Ending June 30, 2021

Overview

Although the outlook for uranium continues to improve, uranium prices have not risen enough to date to justify uranium production at the Company’s mines and ISR facilities at this time. As a result, uranium recovery is expected to be maintained at reduced levels at current uranium price levels, until such time when market conditions improve sufficiently or the U.S. government buys uranium from the Company following the establishment of the proposed U.S. Uranium Reserve.

The Company will continue to seek new sources of revenue, including through its emerging REE business, as well as new sources of alternate feed materials and new fee processing opportunities at the Mill that can be processed under existing market conditions (i.e., without reliance on current uranium sales prices). The Company is also seeking new sources of natural monazite sands for its emerging rare earth business, and continues its support of U.S. governmental activities to assist the U.S. uranium mining industry, including the proposed establishment of a U.S. Uranium Reserve.

Extraction and Recovery Activities Overview

During the six months ended June 30, 2021, the Company did not recover significant quantities of U3O8, and expects to package insignificant quantities of U3Ofor the remainder of 2021, focusing instead on ramping up and optimizing its RE Carbonate production. This is a reduction from previous guidance of 30,000 to 60,000 pounds of uranium production in 2021. All uranium recovered during 2021 at the Mill is expected to be retained in-circuit at the Mill and not to be packaged in 2021. The Company does not plan to extract and/or recover any amounts of uranium of any significance from its Nichols Ranch Project in 2021, which was placed on standby in the second quarter of 2020 due to the depletion of its existing wellfields. In addition, the Company expects to keep the Alta Mesa Project and its conventional mining properties on standby during 2021.

The Company expects to recover approximately 700 to 1,100 tonnes of RE Carbonate at the Mill in 2021, containing approximately 350 to 550 tonnes of total rare earth oxides (“TREO“), subject to receipt of sufficient quantities of monazite. This is a reduction from previous guidance of 2,000 to 3,000 tons (1,814 to 2,721 tonnes) of RE Carbonate, containing approximately 1,000 to 1,600 tons (907 to 1,451 tonnes) of TREO, in 2021, due to what the Company expects to be a short-term delay in supply of monazite sands to the Mill under the Company’s existing supply agreement. The Company expects to produce no vanadium during the 2021 year.

The Company has strategically opted not to enter into any uranium sales commitments for 2021. Therefore, subject to the proposed establishment of a U.S. Uranium Reserve and general market conditions, existing inventories are expected to remain unchanged at approximately 691,000 pounds of U3O8 at year-end. All V2O5 inventory is expected to be sold on the spot market if prices rise sufficiently above current levels, but otherwise maintained in inventory. The Company expects to sell all or a portion of its RE Carbonate to Neo Performance materials or other global separation facilities and/or to stockpile it for future separation at the Mill or elsewhere.

About Energy Fuels: Energy Fuels is a leading U.S.-based uranium mining company, supplying U3O8 to major nuclear utilities. The Company also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of RE Carbonate in 2021. Its corporate offices are in Lakewood, Colorado near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3O8 per year, and has the ability to produce vanadium when market conditions warrant, as well as RE Carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is currently on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also currently on standby. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

Cautionary Note Regarding Forward-Looking Statements: This news release contains certain “Forward Looking Information” and “Forward Looking Statements” within the meaning of applicable United States and Canadian securities legislation, which may include, but are not limited to, statements with respect to: production and sales forecasts; costs of production; any expectation that the Company will continue to be ready to supply uranium into the proposed U.S. Uranium Reserve once it is established; scalability, and the Company’s ability and readiness to re-start, expand or deploy any of its existing projects or capacity to respond to any improvements in uranium market conditions or in response to the proposed Uranium Reserve; any expectation regarding any remaining dissolved vanadium in the White Mesa Mill’s tailings facility solutions; any expectation that the Company’s recently developed mining techniques can increase production and lower costs when vanadium mining resumes in the future; the ability of the Company to secure any new sources of alternate feed materials or other processing opportunities at the White Mesa Mill; expected timelines for the permitting and development of projects; the Company’s expectations as to longer term fundamentals in the market and price projections; any expectation that the Company will maintain its position as a leading uranium company in the United States; any expectation that the proposed Uranium Reserve will be implemented and if implemented the manner in which it will be implemented and the timing of implementation; any expectation with respect to timelines to production; any expectation that the Mill will be successful in producing RE Carbonate on a commercial basis; any expectation that Neo will be successful in separating the Mill’s RE Carbonate on a commercial basis; any expectation that Energy Fuels will be successful in developing U.S. separation, or other value-added U.S. REE production capabilities at the Mill, or otherwise; any expectation that the Company and Neo will be successful in jointly developing a fully integrated U.S.-European REE supply chain; any expectation that the Company will be successful in building a low-cost, fully integrated U.S. rare earth supply chain that meets the highest global standards for environmental protection, sustainability and human rights; any expectation with respect to the future demand for REEs; any expectation with respect to the quantities of monazite ore to be acquired by Energy Fuels, the quantities of RE Carbonate to be produced by the Mill or the quantities of contained TREO in the Mill’s RE Carbonate; any expectation that the Company’s evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of medical isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; and any expectation that the Company’s agreement to sell certain of its non-core properties to CUR will complete as contemplated or at all, or as to the proforma value of this divestment to the Company. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans,” “expects,” “does not expect,” “is expected,” “is likely,” “budgets,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” “does not anticipate,” or “believes,” or variations of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will be taken,” “occur,” “be achieved” or “have the potential to.” All statements, other than statements of historical fact, herein are considered to be forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements express or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: commodity prices and price fluctuations; processing and mining difficulties, upsets and delays; permitting and licensing requirements and delays; changes to regulatory requirements; legal challenges; the availability of sources of alternate feed materials and other feed sources for the Mill; competition from other producers; public opinion; government and political actions; the appropriations for the proposed Uranium Reserve not being allocated to that program and the Uranium Reserve not being implemented; the manner in which the proposed Uranium Reserve, if established, will be implemented; the Company not being successful in selling any uranium into the proposed Uranium Reserve at acceptable quantities or prices, or at all; available supplies of monazite sands; the ability of the Mill to produce RE Carbonate to meet commercial specifications on a commercial scale at acceptable costs; the ability of Neo to separate the RE Carbonate produced by the Mill to meet commercial specifications on a commercial scale at acceptable costs; market factors, including future demand for REEs; the ability of the Mill to be able to separate thorium and potentially radium at reasonable costs or at all; the ability of the Company and RadTran to be able to recover other isotopes from thorium and radium recovered at the Mill at reasonable costs or at all; market prices and demand for medical isotopes; and the other factors described under the caption “Risk Factors” in the Company’s most recently filed Annual Report on Form 10-K, which is available for review on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com, and on the Company’s website at www.energyfuels.com. Forward-looking statements contained herein are made as of the date of this news release, and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. The Company assumes no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: Investor Inquiries: Energy Fuels Inc., Curtis Moore, VP – Marketing and Corporate Development, (303) 974-2140 or Toll free: (888) 864-2125, investorinfo@energyfuels.com, www.energyfuels.com

Energy Fuels (UUUU)(EFR:CA) – 2021-2Q Results Impacted By Rising Costs, Production Delays

Monday, August 02, 2021

Energy Fuels (UUUU)(EFR:CA)
2021-2Q Results Impacted By Rising Costs, Production Delays

As of April 24, 2020, Noble Capital Markets research on Energy Fuels is published under ticker symbols (UUUU and EFR:CA). The price target is in USD and based on ticker symbol UUUU. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target.

Energy Fuels is the largest uranium producer in the U.S. and holds more production capacity and uranium resources than any other U.S. producer. The Company also produces vanadium. Headquartered in Colorado, Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch ISR Facility in Wyoming, and the Alta Mesa ISR Facility in Texas. The producing White Mesa Mill is the only conventional uranium mill in the U.S. and has a licensed capacity of 8 million pounds of U3O8 per year. Nichols Ranch is in production and has a licensed capacity of 2 million pounds of U3O8 per year. Alta Mesa is currently on standby. Energy Fuels also owns several licensed and developed uranium and vanadium mines on standby and other projects in development.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Energy Fuels reported 2021-2Q revenue, losses and loss per share of $0.8 million, $10.8 million, and $0.15 per share. Results were below our expectations due to higher costs associated with Rare Earth Elements (REE) and a later-than-expected first shipment of REE (first shipment was July 7th with revenues falling outside of the quarter). The company continues to idle uranium production and vanadium sales at current prices. Investor focus is justifiably more centered on corporate developments than near-term results.

    The Balance Sheet is getting strong.  Energy Fuels has $98.8 million of working capital including $79.4 million of cash, ahead of our forecasts. Rising inventories are the reason for higher working capital. In addition, the company has reached an agreement to sell non-core uranium assets for $24 million, which will further boost its cash and working capital position. A strong balance sheet leaves …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Nuclear Powers New Paradigm Includes Microreactors



The Plug-and-Play Nuclear Battery Solution

 

“Nuclear Batteries,” or microreactors, is a proposed system that would be able to run unattended for five or ten years, provide heat for industrial processes, or electric production for communities, then be refurbished. The technological progression expected is similar to what computers experienced. Processing power that once filled rooms is now condensed into a handheld device. For nuclear generation, there’s a movement toward relatively tiny and inexpensive factory-built reactors, designed for autonomous plug-and-play. These may one day be conveniently be put into service.

Concept

In a paper published last month titled “A Strategy to Unlock the Potential of Nuclear Energy for a New and Resilient Global Energy-Industrial Paradigm,” a group of nuclear specialists presented a case for nuclear battery (NB) design and production. The idea of smaller modular nuclear reactors has been around for a while, but this proposal takes the idea even further. The authors Jacopo Buongiorno, TEPCO Professor of Nuclear Science and Engineering, MIT – Robert Freda of GE Nuclear – Steven Aumeier, Sr. Advisor for Nuclear Energy Programs at Idaho National Lab – and Kevin Chilton, Ret. Air Force Commander of U.S. Strategic Command, believe units can be made and delivered similar to modular homes. Modular units, fabricated in a factory and placed in a shipping container for delivery and quick installation.

The concept is different than previous proposals of smaller reactors in that NBs are small and complete when they leave the factory. The machines are able to generate approximately 10 megawatts of power and are transportable on one truck or container. This would provide many economic benefits. Nuclear batteries would not require a large construction site, this can eliminate cost overruns. Nuclear power plant construction has been riddled with budget-busting surprise costs for decades.  The microreactor is installed quickly, perhaps just a few weeks, and can be looked at as an energy on-demand service. Nuclear batteries would make providing nuclear energy a product, not a mega-project.

 

Nuclear Battery Advantages

The advantages are easy to understand:

  • A single 10-Megawatt NB can power about 7000 – 8000 homes, a mining project, a midsize data center, or produce enough ongoing desalinated freshwater for over 150,000 people.
  • Can bring electricity to power most anything with no need for a continuous fuel supply.
  • Completely onsite, eliminating the need for long-distance transmission or grid infrastructure.
  • Simple design, fully standardized, mass-produced, fueled at the factory with few moving parts.
  • They combine a small nuclear reactor and a turbine to supply significant amounts of heat and/or power (on the order of 15–30 MWt or 5–10 MWe) while taking up very little real estate.
  • They are compact enough to fit in standard shipping containers for transport to the site of interest, where a unit can be installed and made operational in a matter of days or weeks.
  • Embedded intelligence and established advanced monitoring paradigms enable semiautonomous and remotely monitored operation, inherent digital security, and the potential for highly efficient global fleet operational models.
  • They use low-enriched uranium fuel.
  • “Exhausted” and properly cooled NBs can be safely shipped back to a centralized facility for refueling and refurbishment.
  • There is no need for high-level radioactive waste handling or storage at the user site.[3]

The combination of low-enriched fuel, simple design, mass manufacturing, minimal site preparation, and semiautonomous operation is expected to provide an economically competitive system that can be installed fast.

 

Safety

It’s hard to mention the word nuclear without “safety” coming to mind. The NBs would be designed with three safety functions not requiring operator intervention:

  1. Rapid shutdown of the fission chain reaction in the event of an unexpected condition.
  2. Adequate cooling of the nuclear fuel during shutdown.
  3. No uncontrolled release of materials into the biosphere.

These three features are expected to significantly reduce the possibility of accidents like those experienced at Three Mile Island, Chernobyl, and Fukushima.

Physical security for microreactors would come from a combination of design features like a strong fuel and containment shell and remote monitoring.  With cybersecurity as a growing concern, vulnerability could be reduced as the design and build would be such that even a knowledgeable operator would be unable to damage the nuclear fuel or cause a radioactive release. Further, most NB designs under consideration make it physically impossible to cause a runaway reaction.

Public
Companies Involved

There are half a dozen companies developing their own Microreactor designs. These include NucNet, GE Hitachi, Radiant, and BMX Technologies. Westinghouse is working on a design that uses heat pipe technology for cooling. The company plans to run a pilot plant as a demonstration unit at one of the national laboratories in three years. Idaho National Laboratory has a number of facilities that are being modified to accommodate small reactors so they can perform testing on them.

Take-Away

We may be on the brink of a new paradigm for nuclear power.

The number of ways the future may include uranium as a power source is increasing.  Add nuclear batteries to the list as they are well suited to provide for the needs of industry and many other sectors of the economy by providing a steady, dependable source of carbon-free electricity and heat that can be located on location where power or heat is needed.

Implementation would be a few years away but demand for uranium is increasing while this and other nuclear projects such as the natrium plant in Montana are becoming a reality.

Suggested Reading:



Can You Invest in Uranium Directly?



How Does the Gates Buffett Natrium Reactor Work?





Is the Future of Nuclear Power, Small Modular Reactors?



Energy Industry Report (Q2, 2021)

 

Sources:

https://www.nae.edu/255810/A-Strategy-to-Unlock-the-Potential-of-Nuclear-Energy-for-a-New-and-Resilient-Global-EnergyIndustrial-Paradigm

https://news.mit.edu/2021/nuclear-batteries-decarbon-0625

https://inl.gov/trending-topic/microreactors/#:~:text=WHAT%20ARE%20MICROREACTORS%3F,provide%20heat%20for%20industrial%20applications.

https://www.nucnet.org/news/us-defence-department-awards-contracts-worth-usd39-million-3-2-2020

 

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Release – Capstone Green Energy Signs a 10-Year Service Contract on 1.2 MWs of Microturbines Installed in the Fourth-Tallest Building in New York City

 


Capstone Green Energy (NASDAQ:CGRN) Signs a 10-Year Service Contract on 1.2 MWs of Microturbines Installed in the Fourth-Tallest Building in New York City

 

VAN NUYS, CA / ACCESSWIRE / July 28, 2021 / Capstone Green Energy Corporation(www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com)(NASDAQ:CPST) (“Capstone” or the “Company”), announced today that RSP Systems (www.rsp-systems.com), Capstone’s exclusive distributor for the Energy Efficiency, Renewable Energy and Critical Power Supply market verticals in New York, Connecticut, and Ohio recently signed a new Capstone Factory Protection Plan (FPP) long-term service contract for 1.2 megawatts (MWs) of Capstone microturbines installed on the fourth-tallest building in New York City located in midtown Manhattan.

The skyscraper’s 1.2 MW energy efficiency plant consists of two Capstone C600S microturbines with Capstone’s Integrated Heat Recovery Modules (iHRMs). The Capstone C600S systems have split bus bars allowing each C600S to reduce the building’s electrical load at three individual points of entry (POE) for a total of six POEs. The thermal energy recovered by the iHRMs is fed to a 200-ton Broad Absorption Chiller, which operates year-round, providing cooling for the building, thereby reducing the load on the building’s main electrical chillers. During the swing months of the year, when the cooling loads are less, the system can switch over to provide the recovered thermal energy to the building’s heating load.

Capstone’s Signature Series microturbines, utilizing a green energy technology with integrated iHRMs, provide an industry-leading combined heat and power (CHP) solution that is lightweight, quiet, and compact – the perfect complement to this sustainable design and construction in the heart of New York City. Capstone microturbines enable customers to meet their environmental, energy savings, and resiliency goals by complying with the world’s most stringent emissions standards.

“Continuing to grow our Energy as a Service (EaaS) business is critical to continuing our transition to more predictable cash flows and higher margins. EaaS includes not only our long-term service contracts but also long-term rental contracts, installation services, maintenance service, spare parts, leasing, PPAs, and project financing, as well as our unique distributor subscription fee or DSS program,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “The common elements are steadier cash flows, visibility, and higher margin rates, which are a critical part of our profitability plan,” added Mr. Jamison.

In signing this service agreement, RSP Systems has raised their fleet covered by Capstone’s FPP to over 25 megawatts. The Capstone FPP will provide the end-use customer with fixed costs for scheduled and unscheduled parts for the next 10 years, allowing for protection from future cost increases associated with the replacement of spare parts, commodity pricing, and import tariffs.

“RSP Systems continues to grow their remarkable install base and FPP contract base in the New York area by providing world-class service, from sales to application to aftermarket support,” said Tracy Chidbachian, Capstone Director of Customer Service. “RSP Systems’ highly experienced and talented team assists end-use customers in recognizing the value of the FPP program, which provides predictable maintenance costs and eliminates uncertainties about unexpected expenditures,” concluded Ms. Chidbachian.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy

Release – Energy Fuels Announces Strategic Alliance with RadTran LLC for the Recovery of Isotopes Needed for Emerging Cancer Therapeutics

 

 


Energy Fuels Announces Strategic Alliance with RadTran, LLC for the Recovery of Isotopes Needed for Emerging Cancer Therapeutics

 

Alliance has the potential to develop commercial technologies and sources of isotopes needed for a new domestic medical supply chain

LAKEWOOD, Colo.July 29, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) is pleased to announce the execution of a Strategic Alliance Agreement (“Alliance”) with RadTran, LLC (“RadTran”) to evaluate the recovery of thorium, and potentially radium, from the Company’s existing rare earth carbonate (“RE Carbonate“) and uranium process streams for use in the production of medical isotopes for emerging targeted alpha therapy (“TAT“) cancer therapeutics. This initiative will complement the Company’s existing uranium and RE Carbonate businesses, as it will investigate the recovery of isotopes in existing process streams at Energy Fuels’ White Mesa Mill in Utah (the “Mill”) for medical purposes. RadTran is a Denver, Colorado-based technology development company focused on closing critical gaps in the procurement of medical isotopes for these applications.

Uranium and thorium are long-lived (long “half life”), naturally occurring radioactive elements that decay into a series of different elements through the successive loss of alpha or beta particles. Certain elements in or derived from the uranium and thorium decay chains have short half-lives and emit alpha particles. These alpha emitting isotopes are currently being studied by major pharmaceutical companies developing therapies to treat cancer on a cellular level, while minimizing damage to surrounding healthy tissue. However, existing domestic and global supplies of these isotopes are in short supply, and existing methods of production are costly and currently unable to scale-up to meet widespread demand as new drugs are developed and approved in the U.S., Europe and around the World. These are major roadblocks in the research and development of new TAT drugs, as pharmaceutical companies wait for scalable and affordable production technologies to become available.

The Mill can represent a possible solution to this medical supply chain issue. The Mill is the only licensed and operating conventional uranium mill in the U.S., and it recently began production of RE Carbonate from natural monazite sands. Monazite sands, natural uranium ores, and certain other feed sources for the Mill contain thorium-232 (“Th-232”) and radium-226 (“Ra-226”), which would normally be disposed of permanently in the Mill’s tailings impoundments following processing for uranium and RE Carbonate recovery. As an initial step in this medical isotope initiative, Energy Fuels and RadTran will evaluate the technical and economic feasibility of recovering Th-232, and potentially Ra-226, from the Mill’s natural monazite and other existing feeds, subject to receipt of any required licenses, permits and regulatory approvals. These isotopes are a necessary precursor to the specific medical isotopes needed by pharmaceutical companies for their emerging TAT cancer therapeutics, making this initiative the potential beginning of an important new domestic medical supply chain.

If this initial step is feasible, and subject to receipt of any required licenses, permits and regulatory approvals, Energy Fuels and RadTran will then evaluate the feasibility of recovering radium-228 (“Ra-228”) from the Th-232 and thorium-228 (“Th-228”) from the Ra-228 at the Mill using RadTran technologies, with the backing of the Pacific Northwest National Laboratory (“PNNL”) in Richland, Washington. The recovered Ra-228, Th-228, and potentially Ra-226, would then be sold to pharmaceutical companies and others to produce the short-lived isotopes which are the leading medically attractive TAT isotopes for the treatment of cancer, including lead-212 (“Pb-212”), actinium-225 (“Ac-225”), bismuth-213 (“Bi-213”), radium-224 (“Ra-224”), and radium-223 (“Ra-223”).

“The Alliance between Energy Fuels and RadTran is remarkable as it aims to alleviate the major bottleneck in the targeted alpha therapy market. Upon the successful production of these isotopes at the Mill, this Alliance will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply,” stated Dr. Saleem Drera, Founder and CEO of RadTran.

If successful, this Alliance has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry. In addition, Energy Fuels can support cancer research and the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. This initiative is also highly complementary to the Company’s existing businesses, as the uranium and rare earth feeds Energy Fuels currently processes contain the required thorium and radium. Energy Fuels is seeking to put these isotopes to beneficial human use, rather than losing them to permanent disposal.

“At its heart, the Energy Fuels’ Alliance with RadTran is about maximizing the value and human benefit of our existing uranium and rare earth feeds at the White Mesa Mill,” stated Mark S. Chalmers, President and CEO of Energy Fuels. “Energy Fuels has a long track record of ethically and responsibly processing a wide variety of naturally occurring radioactive materials at the White Mesa Mill for the recovery of uranium, and more recently, rare earths. In our view, recovering medical isotopes from these same streams, that would otherwise be lost to direct disposal, is a great way to maximally use all of our feeds. Indeed, we are essentially replicating China’s ‘monazite plan.’ China purchases monazite from around the globe, recovers the uranium for use in their nuclear industry, recovers the thorium presumably for use in their nuclear and pharmaceutical industries, and recovers the rare earths for processing into advanced materials needed for various clean energy and advanced technologies. Our White Mesa Mill is a facility unique to the United States that has the potential to do the same thing at world standards.

“We believe Energy Fuels has the potential to create a domestic supply of thorium and possibly radium that can be harvested using RadTran’s technologies for use in the production of the next generation of cancer therapies, a potentially multi-billion dollar industry. And we would be accomplishing this in a way that is environmentally beneficial and highly congruent with Energy Fuels’ recycling and sustainability goals. We look forward to working with RadTran on this important initiative.”

ABOUT ENERGY FUELS

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws in Canada and the United States. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation that the Company’s evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of any other isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; any expectation that this initiative will alleviate the major bottleneck in the targeted alpha therapy market; any expectation that, upon the successful production of these isotopes at the Mill, this initiative will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply; any expectation that this initiative has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry, or that this next generation of cancer therapies could be a potentially multi-billion dollar industry; any expectation that all required licenses, permits and regulatory approvals will be obtained on a timely basis or at all; and any expectation that this initiative may result in the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of thorium, radium and other isotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; and market factors, including future demand for and prices realized from the sale of radium, thorium or other isotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assume no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: ENERGY FUELS, Curtis Moore – VP of Marketing & Corporate Development, (303) 974-2154; cmoore@energyfuels.com

Energy Fuels Announces Strategic Alliance with RadTran, LLC for the Recovery of Isotopes Needed for Emerging Cancer Therapeutics

 

 


Energy Fuels Announces Strategic Alliance with RadTran, LLC for the Recovery of Isotopes Needed for Emerging Cancer Therapeutics

 

Alliance has the potential to develop commercial technologies and sources of isotopes needed for a new domestic medical supply chain

LAKEWOOD, Colo.July 29, 2021 /CNW/ – Energy Fuels Inc. (NYSE American: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) is pleased to announce the execution of a Strategic Alliance Agreement (“Alliance”) with RadTran, LLC (“RadTran”) to evaluate the recovery of thorium, and potentially radium, from the Company’s existing rare earth carbonate (“RE Carbonate“) and uranium process streams for use in the production of medical isotopes for emerging targeted alpha therapy (“TAT“) cancer therapeutics. This initiative will complement the Company’s existing uranium and RE Carbonate businesses, as it will investigate the recovery of isotopes in existing process streams at Energy Fuels’ White Mesa Mill in Utah (the “Mill”) for medical purposes. RadTran is a Denver, Colorado-based technology development company focused on closing critical gaps in the procurement of medical isotopes for these applications.

Uranium and thorium are long-lived (long “half life”), naturally occurring radioactive elements that decay into a series of different elements through the successive loss of alpha or beta particles. Certain elements in or derived from the uranium and thorium decay chains have short half-lives and emit alpha particles. These alpha emitting isotopes are currently being studied by major pharmaceutical companies developing therapies to treat cancer on a cellular level, while minimizing damage to surrounding healthy tissue. However, existing domestic and global supplies of these isotopes are in short supply, and existing methods of production are costly and currently unable to scale-up to meet widespread demand as new drugs are developed and approved in the U.S., Europe and around the World. These are major roadblocks in the research and development of new TAT drugs, as pharmaceutical companies wait for scalable and affordable production technologies to become available.

The Mill can represent a possible solution to this medical supply chain issue. The Mill is the only licensed and operating conventional uranium mill in the U.S., and it recently began production of RE Carbonate from natural monazite sands. Monazite sands, natural uranium ores, and certain other feed sources for the Mill contain thorium-232 (“Th-232”) and radium-226 (“Ra-226”), which would normally be disposed of permanently in the Mill’s tailings impoundments following processing for uranium and RE Carbonate recovery. As an initial step in this medical isotope initiative, Energy Fuels and RadTran will evaluate the technical and economic feasibility of recovering Th-232, and potentially Ra-226, from the Mill’s natural monazite and other existing feeds, subject to receipt of any required licenses, permits and regulatory approvals. These isotopes are a necessary precursor to the specific medical isotopes needed by pharmaceutical companies for their emerging TAT cancer therapeutics, making this initiative the potential beginning of an important new domestic medical supply chain.

If this initial step is feasible, and subject to receipt of any required licenses, permits and regulatory approvals, Energy Fuels and RadTran will then evaluate the feasibility of recovering radium-228 (“Ra-228”) from the Th-232 and thorium-228 (“Th-228”) from the Ra-228 at the Mill using RadTran technologies, with the backing of the Pacific Northwest National Laboratory (“PNNL”) in Richland, Washington. The recovered Ra-228, Th-228, and potentially Ra-226, would then be sold to pharmaceutical companies and others to produce the short-lived isotopes which are the leading medically attractive TAT isotopes for the treatment of cancer, including lead-212 (“Pb-212”), actinium-225 (“Ac-225”), bismuth-213 (“Bi-213”), radium-224 (“Ra-224”), and radium-223 (“Ra-223”).

“The Alliance between Energy Fuels and RadTran is remarkable as it aims to alleviate the major bottleneck in the targeted alpha therapy market. Upon the successful production of these isotopes at the Mill, this Alliance will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply,” stated Dr. Saleem Drera, Founder and CEO of RadTran.

If successful, this Alliance has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry. In addition, Energy Fuels can support cancer research and the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. This initiative is also highly complementary to the Company’s existing businesses, as the uranium and rare earth feeds Energy Fuels currently processes contain the required thorium and radium. Energy Fuels is seeking to put these isotopes to beneficial human use, rather than losing them to permanent disposal.

“At its heart, the Energy Fuels’ Alliance with RadTran is about maximizing the value and human benefit of our existing uranium and rare earth feeds at the White Mesa Mill,” stated Mark S. Chalmers, President and CEO of Energy Fuels. “Energy Fuels has a long track record of ethically and responsibly processing a wide variety of naturally occurring radioactive materials at the White Mesa Mill for the recovery of uranium, and more recently, rare earths. In our view, recovering medical isotopes from these same streams, that would otherwise be lost to direct disposal, is a great way to maximally use all of our feeds. Indeed, we are essentially replicating China’s ‘monazite plan.’ China purchases monazite from around the globe, recovers the uranium for use in their nuclear industry, recovers the thorium presumably for use in their nuclear and pharmaceutical industries, and recovers the rare earths for processing into advanced materials needed for various clean energy and advanced technologies. Our White Mesa Mill is a facility unique to the United States that has the potential to do the same thing at world standards.

“We believe Energy Fuels has the potential to create a domestic supply of thorium and possibly radium that can be harvested using RadTran’s technologies for use in the production of the next generation of cancer therapies, a potentially multi-billion dollar industry. And we would be accomplishing this in a way that is environmentally beneficial and highly congruent with Energy Fuels’ recycling and sustainability goals. We look forward to working with RadTran on this important initiative.”

ABOUT ENERGY FUELS

Energy Fuels is a leading U.S.-based uranium mining company, supplying U3Oto major nuclear utilities. Energy Fuels also produces vanadium from certain of its projects, as market conditions warrant, and is ramping up to commercial-scale production of REE carbonate in 2021. Its corporate offices are in Lakewood, Colorado, near Denver, and all of its assets and employees are in the United States. Energy Fuels holds three of America’s key uranium production centers: the White Mesa Mill in Utah, the Nichols Ranch in-situ recovery (“ISR”) Project in Wyoming, and the Alta Mesa ISR Project in Texas. The White Mesa Mill is the only conventional uranium mill operating in the U.S. today, has a licensed capacity of over 8 million pounds of U3Oper year, has the ability to produce vanadium when market conditions warrant, as well as REE carbonate from various uranium-bearing ores. The Nichols Ranch ISR Project is on standby and has a licensed capacity of 2 million pounds of U3O8 per year. The Alta Mesa ISR Project is also on standby and has a licensed capacity of 1.5 million pounds of U3O8per year. In addition to the above production facilities, Energy Fuels also has one of the largest NI 43-101 compliant uranium resource portfolios in the U.S. and several uranium and uranium/vanadium mining projects on standby and in various stages of permitting and development. The primary trading market for Energy Fuels’ common shares is the NYSE American under the trading symbol “UUUU,” and the Company’s common shares are also listed on the Toronto Stock Exchange under the trading symbol “EFR.” Energy Fuels’ website is www.energyfuels.com.

CAUTIONARY STATEMENTS REGARDING FORWARD LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable securities laws in Canada and the United States. Forward-looking information may relate to future events or future performance of Energy Fuels. All statements in this release, other than statements of historical facts, with respect to Energy Fuels’ objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific forward-looking statements in this discussion include, but are not limited to, the following: any expectation that the Company’s evaluation of thorium and potentially radium recovery at the Mill will be successful; any expectation that the potential recovery of any other isotopes from any thorium and radium recovered at the Mill will be feasible; any expectation that any thorium, radium and other isotopes can be recovered at the Mill and sold on a commercial basis; any expectation that this initiative will alleviate the major bottleneck in the targeted alpha therapy market; any expectation that, upon the successful production of these isotopes at the Mill, this initiative will allow pharmaceutical companies who are devoping targeted alpha therapies to progress through clinical trials and deploy therapeutics commercially without the hinderance of isotope supply; any expectation that this initiative has the potential to generate significant future cashflow for Energy Fuels in the medical isotope industry, or that this next generation of cancer therapies could be a potentially multi-billion dollar industry; any expectation that all required licenses, permits and regulatory approvals will be obtained on a timely basis or at all; and any expectation that this initiative may result in the creation of a new, U.S.-based medical supply chain that adheres to the highest global standards for human rights, sustainability, safety and environmental protection. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements include risks associated with: processing difficulties and upsets; available supplies of monazite sands; the capital and operating costs associated with the recovery of thorium, radium and other isotopes at the Mill; licensing, permitting and regulatory delays; litigation risks; competition from others; and market factors, including future demand for and prices realized from the sale of radium, thorium or other isotopes produced at the Mill. Forward-looking statements contained herein are made as of the date of this news release, and Energy Fuels disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. Energy Fuels assume no obligation to update the information in this communication, except as otherwise required by law.

SOURCE Energy Fuels Inc.

For further information: ENERGY FUELS, Curtis Moore – VP of Marketing & Corporate Development, (303) 974-2154; cmoore@energyfuels.com

Capstone Green Energy (NASDAQ:CGRN) Signs a 10-Year Service Contract on 1.2 MWs of Microturbines Installed in the Fourth-Tallest Building in New York City

 


Capstone Green Energy (NASDAQ:CGRN) Signs a 10-Year Service Contract on 1.2 MWs of Microturbines Installed in the Fourth-Tallest Building in New York City

 

VAN NUYS, CA / ACCESSWIRE / July 28, 2021 / Capstone Green Energy Corporation(www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com)(NASDAQ:CPST) (“Capstone” or the “Company”), announced today that RSP Systems (www.rsp-systems.com), Capstone’s exclusive distributor for the Energy Efficiency, Renewable Energy and Critical Power Supply market verticals in New York, Connecticut, and Ohio recently signed a new Capstone Factory Protection Plan (FPP) long-term service contract for 1.2 megawatts (MWs) of Capstone microturbines installed on the fourth-tallest building in New York City located in midtown Manhattan.

The skyscraper’s 1.2 MW energy efficiency plant consists of two Capstone C600S microturbines with Capstone’s Integrated Heat Recovery Modules (iHRMs). The Capstone C600S systems have split bus bars allowing each C600S to reduce the building’s electrical load at three individual points of entry (POE) for a total of six POEs. The thermal energy recovered by the iHRMs is fed to a 200-ton Broad Absorption Chiller, which operates year-round, providing cooling for the building, thereby reducing the load on the building’s main electrical chillers. During the swing months of the year, when the cooling loads are less, the system can switch over to provide the recovered thermal energy to the building’s heating load.

Capstone’s Signature Series microturbines, utilizing a green energy technology with integrated iHRMs, provide an industry-leading combined heat and power (CHP) solution that is lightweight, quiet, and compact – the perfect complement to this sustainable design and construction in the heart of New York City. Capstone microturbines enable customers to meet their environmental, energy savings, and resiliency goals by complying with the world’s most stringent emissions standards.

“Continuing to grow our Energy as a Service (EaaS) business is critical to continuing our transition to more predictable cash flows and higher margins. EaaS includes not only our long-term service contracts but also long-term rental contracts, installation services, maintenance service, spare parts, leasing, PPAs, and project financing, as well as our unique distributor subscription fee or DSS program,” said Darren Jamison, Capstone’s President and Chief Executive Officer. “The common elements are steadier cash flows, visibility, and higher margin rates, which are a critical part of our profitability plan,” added Mr. Jamison.

In signing this service agreement, RSP Systems has raised their fleet covered by Capstone’s FPP to over 25 megawatts. The Capstone FPP will provide the end-use customer with fixed costs for scheduled and unscheduled parts for the next 10 years, allowing for protection from future cost increases associated with the replacement of spare parts, commodity pricing, and import tariffs.

“RSP Systems continues to grow their remarkable install base and FPP contract base in the New York area by providing world-class service, from sales to application to aftermarket support,” said Tracy Chidbachian, Capstone Director of Customer Service. “RSP Systems’ highly experienced and talented team assists end-use customers in recognizing the value of the FPP program, which provides predictable maintenance costs and eliminates uncertainties about unexpected expenditures,” concluded Ms. Chidbachian.

About Capstone Green Energy

Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy

Flotek Industries (FTK) – Flotek Leases Out Part of Its Facilities

Wednesday, July 28, 2021

Flotek Industries (FTK)
Flotek Leases Out Part of Its Facilities

Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. Flotek Industries, Inc. is a technology-driven, specialty chemistry and data company that helps customers across industrial, commercial and consumer markets improve their Environmental, Social and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.” For additional information, please visit Flotek’s web site at www.flotekind.com.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

    Flotek announced a long-term agreement with Resolute Oil to lease out its 15-acre blending facility in Waller, TX. Terms of the agreement were not announced. Resolute will use the facility to blend white mineral oil which is used in a variety of industries from agriculture to food to cosmetics. Resolute will have the right to upgrade the facilities (perhaps to manufacture products for Kosher foods) and the option to renew the lease until 2036.

    The lease should not affect Flotek’s current operations.  Flotek has six operating facilities. Flotek’s other operating facilities are located in Texas (2), Oklahoma, Canada, and Europe. We do not believe the lease of the Waller plant will have an adverse impact on its ability to manufacture its oil service and cleaning products at current levels. By leasing out the facilities instead of selling …



This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision. 

Release – Capstone Green Energy Wins Multiple Contracts With Wastewater Treatment Plants in Austria and Germany

 

Capstone Green Energy Wins Multiple Contracts With Wastewater Treatment Plants in Austria and Germany

 

VAN NUYS, CA / ACCESSWIRE / July 28, 2021 / Capstone Green Energy Corporation(www.CapstoneGreenEnergy.com) (NASDAQ:CGRN), formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), announced today that it received orders for several different customers in Austria and Germany to provide its microturbines as part of upgraded and expanded systems at multiple industrial and wastewater treatment plants. The orders, secured by long-time Capstone distributor Wels Strom, are expected to provide reliable, low maintenance energy for these critical infrastructure sites, several of which are repeat Capstone customers.

A total of eight C65 Microturbines and five C30s have been ordered. Five of the C65s will run on biogas and three on natural gas, while the C30s will all run on biogas. Because biogas is a waste byproduct that would otherwise need to be flared at these sites, the systems are expected to reduce emissions, while also saving on fuel costs.

In addition to the microturbine purchases, several customers have already signed 5- or 10-year service contracts provided by Capstone’s Factory Protection Plan (FPP). Through the FPP, maintenance costs are fixed, and both planned and unplanned repairs are covered for the life of the contract, thereby maintaining high performance and limiting long-term system costs.

“One of the big lessons of the global pandemic for these kinds of critical infrastructure sites was that they needed to operate without interruption, and often with limited personnel,” said Leopold Berger, Head of Energy Systems at Wels Strom. “So when it came to reliability and remote monitoring capabilities, Capstone Green Energy was the ideal choice,” added Mr. Berger.

“These orders are a healthy sign that our market is starting to rebound in Europe, in this case, specifically, Austria and Germany,” said Darren Jamison, President and Chief Executive Officer of Capstone Green Energy. “As we work with prospective customers on their near-term and long-term energy goals, we’re finding that there is greater interest in finding solutions that address both the issues of power security and the environment. For those reasons, wastewater treatment facilities are prime candidates for these types of system upgrades,” concluded Mr. Jamison.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

Cautionary Note Regarding Forward-Looking Statements
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding expectations for green initiatives and execution on the Company’s growth strategy and other statements regarding the Company’s expectations, beliefs, plans, intentions, and strategies. The Company has tried to identify these forward-looking statements by using words such as “expect,” “anticipate,” “believe,” “could,” “should,” “estimate,” “intend,” “may,” “will,” “plan,” “goal” and similar terms and phrases, but such words, terms and phrases are not the exclusive means of identifying such statements. Actual results, performance and achievements could differ materially from those expressed in, or implied by, these forward-looking statements due to a variety of risks, uncertainties and other factors, including, but not limited to, the following: the ongoing effects of the COVID-19 pandemic; the availability of credit and compliance with the agreements governing the Company’s indebtedness; the Company’s ability to develop new products and enhance existing products; product quality issues, including the adequacy of reserves therefor and warranty cost exposure; intense competition; financial performance of the oil and natural gas industry and other general business, industry and economic conditions; the Company’s ability to adequately protect its intellectual property rights; and the impact of pending or threatened litigation. For a detailed discussion of factors that could affect the Company’s future operating results, please see the Company’s filings with the Securities and Exchange Commission, including the disclosures under “Risk Factors” in those filings. Except as expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Release – CanAlaska Appoints Two New Board Members and Advisor


CanAlaska Appoints Two New Board Members and Advisor

 

Karen Lloyd and Geoff Gay Appointed to Board of Directors

Shane Shircliff Appointed to Advisory Board

Vancouver, British Columbia–(Newsfile Corp. – July 28, 2021) – CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) (“CanAlaska” or the “Company”) is pleased to announce the appointment of Ms. Karen Lloyd and Mr. Geoff Gay to the Board of Directors of the Company, effective immediately. In addition, the Company is pleased to announce Mr. Shane Shircliff’s appointment to the Advisory Board of the Company.

Ms. Lloyd (B. Comm., M.B.A.) comes from a strong and significant strategy and marketing background across five different industries including mining, telecommunications, online payments, executive training and banking. This depth of experience comes from her employment with Telus Communications, Hongkong Bank of Canada and Cameco Corporation. Between 2009 and 2020, Ms. Lloyd managed a team of contract and inventory specialists to seamlessly fulfill global uranium sales generating annual revenue of between $1.8 and $2.4 billion for Cameco Corporation as a Director in Cameco’s Marketing team. In April 2021, Ms. Lloyd joined Kreos Aviation as Chief Operating Officer where she oversees all aspects of the Kreos operations including asset management, strategic alliances, flight operations, maintenance, fuel operations, marketing and sales, and business development.

Mr. Gay (BBA) is currently Chief Executive Officer of Athabasca Basin Development, an Indigenous-owned investment company based in Saskatchewan. Mr. Gay has been its executive leader, and subsequent CEO, since the company’s inception nineteen years ago and was instrumental in establishing and growing the company to where it is today. As CEO, Mr. Gay is responsible to articulate the vision of the partnership with a focus on creating value for the unit holders and leading the company in long term strategic planning and implementation, evaluating new opportunities for investment, assessing and mitigating risk, and overseeing all financial aspects of the partnership. Athabasca Basin Development is an investment company committed to building and investing in successful businesses. Since establishment, the company has grown to include partial or complete ownership in thirteen companies providing a wide range of services to the mining and resources industry, with consolidated revenues regularly exceeding $100M. In 2017, Mr. Gay was named Business Leader of the Year by Saskatchewan Chamber of Commerce at its annual ABEX awards.

Mr. Shircliff (B. Comm., M.B.A.), now appointed to CanAlaska’s Advisory Board, has over twenty years of experience in senior management and corporate director roles for both publicly traded and private companies, and has extensive experience with various publicly traded regulatory regimes. Mr. Shircliff’s breadth of expertise over his career includes negotiation, deal structure, due diligence and transacting mergers, acquisitions and divestitures totaling over one billion dollars in value. Industries of experience include logistics, finance, natural resources, exploration and mining, retail, real estate and construction. Mr. Shircliff has been directly involved with all aspects of developing resource projects encompassing lithium, uranium, gold, silver, industrial minerals, diamonds as well as oil and gas in a variety of countries. Mr. Shircliff is the founder and Chief Executive Officer of Clinworth Management Corp., a private company, which provides management, acquisition, divestiture and corporate development services to a wide range of clients. Clinworth most recently has been working with and advising clients in the areas of acquisitions, strategy, resources, retail, real estate and construction. In addition to industry clients, Clinworth continues to advise First Nations and their economic development entities on strategy, negotiation and growth opportunities.

The Company also announces that it has granted incentive stock options to Directors and Advisors of the Company to purchase up to 400,000 common shares of the Company pursuant to the Company’s share option plan. The options are exercisable for a period of three years at a price of $0.47 per share.

CanAlaska CEO, Cory Belyk, comments; “On behalf of the Board, it is my pleasure to welcome Karen, Geoff and Shane to the CanAlaska team. Each bring a depth of local and global knowledge across a multitude of industries, which will assist CanAlaska along its journey to discover the carbon-free energy sources that are now in demand world-wide.”

About CanAlaska Uranium

CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQB: CVVUF) (FSE: DH7N) holds interests in approximately 214,000 hectares (530,000 acres), in Canada’s Athabasca Basin – the “Saudi Arabia of Uranium.” CanAlaska’s strategic holdings have attracted major international mining companies. CanAlaska is currently working with Cameco and Denison at two of the Company’s properties in the Eastern Athabasca Basin. CanAlaska is a project generator positioned for discovery success in the world’s richest uranium district. The Company also holds properties prospective for nickel, copper, gold and diamonds. For further information visit www.canalaska.com.

On behalf of the Board of Directors
“Peter Dasler”
Peter Dasler, M.Sc., P.Geo.
President
CanAlaska Uranium Ltd.

Contacts:

Cory Belyk, Executive VP and CEO
Tel: +1.604.688.3211 x 306
Email: cbelyk@canalaska.com

Peter Dasler, President
Tel: +1.604.688.3211 x 138
Email: info@canalaska.com

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.

Forward-looking information

All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.

Release – Capstone Green Energy to Announce Its First Quarter Fiscal Year 2022 Financial Results on Wednesday August 11 2021

 

Capstone Green Energy (NASDAQ:CGRN) to Announce Its First Quarter Fiscal Year 2022 Financial Results on Wednesday, August 11, 2021

 

VAN NUYS, CA / ACCESSWIRE / July 28, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that on Wednesday, August 11, 2021, after market close, it expects to release full financial results for its first quarter of fiscal year 2022, ended June 30, 2021. Later that same day, at 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time), Capstone will host a live webcast to discuss those results.

At the end of the conference call, Capstone will host a question-and-answer session to provide an opportunity for financial analysts to ask questions. Investors and interested individuals are invited to listen to the webcast by logging on to the Company’s investor relations webpage at www.capstonegreenenergy.com. A replay of the webcast will be available on the site for 30 days.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation

Capstone Green Energy (NASDAQ:CGRN) to Announce Its First Quarter Fiscal Year 2022 Financial Results on Wednesday, August 11, 2021

 

Capstone Green Energy (NASDAQ:CGRN) to Announce Its First Quarter Fiscal Year 2022 Financial Results on Wednesday, August 11, 2021

 

VAN NUYS, CA / ACCESSWIRE / July 28, 2021 / Capstone Green Energy Corporation (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) formerly Capstone Turbine Corporation (www.capstoneturbine.com) (NASDAQ:CPST) (“Capstone” or the “Company”), a global leader in carbon reduction and on-site resilient green energy solutions, announced today that on Wednesday, August 11, 2021, after market close, it expects to release full financial results for its first quarter of fiscal year 2022, ended June 30, 2021. Later that same day, at 1:45 p.m. Pacific Time (4:45 p.m. Eastern Time), Capstone will host a live webcast to discuss those results.

At the end of the conference call, Capstone will host a question-and-answer session to provide an opportunity for financial analysts to ask questions. Investors and interested individuals are invited to listen to the webcast by logging on to the Company’s investor relations webpage at www.capstonegreenenergy.com. A replay of the webcast will be available on the site for 30 days.

About Capstone Green Energy
Capstone Green Energy (www.CapstoneGreenEnergy.com) (NASDAQ:CGRN) is a leading provider of customized microgrid solutions and on-site energy technology systems focused on helping customers around the globe meet their environmental, energy savings, and resiliency goals. Capstone Green Energy focuses on four key business lines. Through its Energy as a Service (EaaS) business, it offers rental solutions utilizing its microturbine energy systems and battery storage systems, comprehensive Factory Protection Plan (FPP) service contracts that guarantee life-cycle costs, as well as aftermarket parts. Energy Conversion Products are driven by the Company’s industry-leading, highly efficient, low-emission, resilient microturbine energy systems offering scalable solutions in addition to a broad range of customer-tailored solutions, including hybrid energy systems and larger frame industrial turbines. The Energy Storage Products business line designs and installs microgrid storage systems creating customized solutions using a combination of battery technologies and monitoring software. Through Hydrogen Energy Solutions, Capstone Green Energy offers customers a variety of hydrogen products, including the Company’s microturbine energy systems.

For customers with limited capital or short-term needs, Capstone offers rental systems; for more information, contact: rentals@CGRNenergy.com. To date, Capstone has shipped over 10,000 units to 83 countries and estimates that, in FY21, it saved customers over $217 million in annual energy costs and approximately 397,000 tons of carbon. Total savings over the last three years are estimated at 1,115,100 tons of carbon and $698 million in annual energy savings.

For more information about the Company, please visit: www.CapstoneGreenEnergy.com. Follow Capstone Green Energy on TwitterLinkedInInstagramFacebook, and YouTube.

CONTACT:
Capstone Green Energy
Investor and investment media inquiries:
818-407-3628
ir@CGRNenergy.com

SOURCE: Capstone Green Energy Corporation