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Indonesia Energy President Frank Ingriselli makes a formal corporate presentation. Afterwards, he is joined by Noble Capital Markets Senior Research Analyst Michael Heim for a Q & A session featuring questions asked by the live audience throughout the event. Research, News, and Advanced Market Data on INDOInformation on upcoming live virtual roadshows
About Indonesia Energy Corporation Limited Indonesia Energy Corporation Limited (NYSE American: INDO) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in Indonesia. IEC’s principal assets are its Kruh Block (63,000 acres) located onshore on the Island of Sumatra in Indonesia and its Citarum Block (1,000,000 acres) located onshore on the Island of Java in Indonesia. IEC is headquartered in Jakarta, Indonesia and has a representative office in Danville, California. For more information on IEC, please visit www.indo-energy.com. |
Category: Energy
Release – Capstone Green Energy Secures Order For Multiple Microturbines For Australian Oil And Gas Customer
Capstone Green Energy Secures Order For Multiple Microturbines For Australian Oil & Gas Customer
SOURCE: Capstone Green Energy Corporation
Capstone Green Energy Secures Order For Multiple Microturbines For Australian Oil & Gas Customer
Capstone Green Energy Secures Order For Multiple Microturbines For Australian Oil & Gas Customer
SOURCE: Capstone Green Energy Corporation
Release – Capstone Green Energy Announces Participation In Noble Capital Markets Virtual Road Show Series
Capstone Green Energy Announces Participation In Noble Capital Markets Virtual Road Show Series
SOURCE: Capstone Green Energy Corporation
Capstone Green Energy Announces Participation In Noble Capital Markets Virtual Road Show Series
Capstone Green Energy Announces Participation In Noble Capital Markets Virtual Road Show Series
SOURCE: Capstone Green Energy Corporation
Indonesia Energy Corp (INDO) – Virtual Roadshow Highlights
Friday, June 25, 2021
Indonesia Energy Corp (INDO)
Virtual Roadshow Highlights
Indonesia Energy Corp Ltd is an oil and gas exploration and production company focused on Indonesia. It holds two oil and gas assets through its subsidiaries in Indonesia: one producing block (the Kruh Block) and one exploration block (the Citarum Block). The Kruh Block is located to the northwest of Pendopo, Pali, South Sumatra. The Citarum Block is located to the south of Jakarta.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noble and Channelchek recently hosted a virtual roadshow featuring Frank Ingriselli, President of Indonesia Energy. In the presentation, Mr. Ingriselli gave an update on recent drilling activity and plans, updated expected well investment returns in light of higher oil prices, and discussed the firm’s financial position and financing options.
First well result are in line with expectations. INDO completed its first well in the Kruh block on June 4 and has begun perforation and flow measurement. Mr. Ingriselli indicated that the company expects to announce flow results in the next week or two but that the well is operating in line with expectations. Management has described a type curve for the field with an initial flow of around …
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.
enCore Energy Corp. (ENCUF)(EU:CA) – enCore announces PEA results for its New Mexico properties
Friday, June 25, 2021
enCore Energy Corp. (ENCUF)(EU:CA)
enCore announces PEA results for its New Mexico properties
enCore Energy Corp together with its subsidiary, is engaged in the acquisition and exploration of resource properties. The company holds the Marquez project in New Mexico as well as the dominant land position in Arizona with additional other properties in Utah and Wyoming. The firm also owns or has access to North American and global uranium data including the Union Carbide, US Smelting and Refining, UV Industries, and Rancher’s Exploration databases in addition to a collection of geophysical data for the high-grade Northern Arizona Breccia Pipe District.
Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
enCore announced Preliminary Economic Assessment results for its recently-consolidated Juan Tafoya and Marquez projects in New Mexico. The assessment covers historical company assets and assets acquired in the Westwater Resources transaction of last year. As a reminder, these assets are long term in nature, and we do not expect the company to mine the projects in the near future. Instead, we expect management to focus on Texas operations including the reactivation of the Rosita production facility.
The PEA reports a range of value of $20.9-$71.2 million. The range assumes uranium yellowcake prices of $60-$70/lb. Internal return rates range from 17-39% and assume capital costs of $72 million and a 7% discount rate. All-in costs are estimated at $48/lb. As a reminder, current uranium spot prices are closer to $30/lb. and contracted prices are near $40/lb., well below the PEA’s assume prices …
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 – Tony Wells Joins Gevo as General Manager for Net-Zero 1
Tony Wells Joins Gevo as General Manager for Net-Zero 1
ENGLEWOOD, Colo., June 24, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Tony Wells has joined Gevo as its General Manager/Site Leader for its future Net-Zero 1 facility expected to be located in Lake Preston, South Dakota. Mr. Wells brings 30+ years of operations management, engineering, and business development experience across industries including corn milling, food processing, ethanol and biodiesel production. He is expected to lead and assemble the organization that will operate the Net-Zero 1 facility.
“Tony is the real deal. He is a ‘been there, done it’ person and a skilled general manager. He knows how to build teams and operations. His experience in engineering and plant design should not be lost on anyone either. We are glad to have him with us. He’s good,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer.
“Becoming part of the team behind Net-Zero 1 is a monumental privilege,” said Mr. Wells. “Assembling the team that will be the driving force of this first of its kind, state-of-the-art facility is the highlight of my career,” continued Mr. Wells.
About Gevo
Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.
Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.
Learn more at Gevo’s website: www.gevo.com
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Tony Wells, Gevo’s technology, Gevo’s Net-Zero 1 project, Gevo’s products, Gevo’s ability to produce products with “net-zero” greenhouse gas emissions, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Investor and Media Contact
+1 720-647-9605
IR@gevo.com
Release – enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results
enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results and combined, N.I. 43-101 Technical Report for its Juan Tafoya-Marquez Project, New Mexico
CORPUS CHRISTI, Texas, June 24, 2021 /PRNewswire/ – enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (the “Company” or “enCore“) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) for the company’s recently consolidated Juan Tafoya and Marquez projects located in the Grant’s Uranium District in northwest New Mexico. This is the first PEA for the projects as this is the only time in recent history that the two contiguous mineralized properties have been held under the same company. The PEA was constructed based on a combined and updated NI 43-101 Technical Report using an Indicated resource of 7.1 million tons at a grade of 0.127% eU3O8 for a total of 18.1 million pounds of U3O8.
The PEA reports the Net Present Value (“NPV”) for the project that ranges from $20.9 million using $60.00 per pound of yellowcake (U3O8) to $71.2 million using $70.00 per pound of yellowcake with internal rate of returns (“IRR”) ranging from 17% to 39% with corresponding yellowcake prices; these scenarios are pre-tax and assume a 7% discount rate. The break-even price of production is estimated to be $56.00 per pound.
“This initial PEA enables enCore to illustrate the economic opportunities of the combined Juan Tafoya and Marquez deposits which have been consolidated with the Westwater Resources transaction completed at year end 2020. This report assumed conventional underground operation and recovery through a newly constructed conventional mill, though the authors did acknowledge that further research may prove the property amenable to either in-situ recovery (“ISR”) or heap leach processing; either of which would have a positive material impact on the economic conclusions of the current PEA.” said Paul Goranson, Chief Executive Officer. “This study points to the economic importance of our conventional assets in New Mexico, with further work it may well be determined that some, or conceivably most, of the uranium at Juan Tafoya-Marquez might be amenable to lower cost recovery options including ISR or heap leaching.”
The PEA evaluated the economics of mining at Juan Tafoya-Marquez through underground mining and on-site processing (milling) to produce yellowcake. The study has an effective date of June 9, 2021, and was prepared by Douglas L. Beahm, P.E, P.G., of BRS Inc. in cooperation with Terence P. McNulty, P.E., PhD, of McNulty and Associates.
PEA Summary Mine Plan and Operating Assumptions
|
Total Tons mined |
6,033,000 |
|
Total Tons Waste mined |
1,392,000 |
|
Total Tons of Resource mined |
4,641,000 |
|
Total Pounds Yellowcake ( U3O8 ) Contained |
12,184,000 |
|
Average Diluted Grade % U3O8 |
0.188% |
|
Total Pounds U3O8 Recovered @ 95% recovery |
11,575,000 |
|
Life of Mine |
15 years |
PEA Summary Capital and Operating Costs
|
Initial Capital Costs (including contingency) |
|
|
Mine Direct Capital |
$42,110,000 |
|
Mill and Tailings Capital |
$37,200,000 |
|
Total LOM Capital Costs |
$79,310,000 |
Life of Mine Cost Summary
|
Cost Center |
Total Cost US$ (x1,000)* |
Cost per Pound Recovered US$ |
|
OPEX Mine |
$308,000 |
$26.62 |
|
OPEX Mill |
$184,000 |
$15.90 |
|
Decommissioning and Reclamation |
$13,000 |
$1.11 |
|
Taxes and Royalties |
$53,000 |
$4.55 |
|
TOTAL OPEX (LOM) |
$558,000 |
$48.10* |
|
*rounded |
PEA Summary Economics at $60.00/lb. Yellowcake (U3O8)
|
Pre-tax and Royalty NPV at 7% |
$20,595,000 |
|
Pre-tax and Royalty IRR |
17% |
|
Post Tax and Royalty NPV at 5% |
$18,473,000 |
|
Post Tax and Royalty IRR |
16% |
|
Post Tax payback |
5.0 years |
|
Total LOM Revenue |
$694,474,000 |
|
Total LOM Direct Costs |
$523,699,000 |
|
Total LOM Royalties |
$33,566,000 |
|
Total LOM Taxes |
$3,225,000 |
|
Total cash Flow after taxes and royalties |
$54,674,000 |
|
Cash Cost ($/lb. U3O8) |
$42.53 |
The base case summarized above assumes the owner will purchase all mining equipment. The base case assumes mining and milling at an average rate of 1000 tons per day year-round
Sensitivities
|
U3O8 Price US$/lb |
$60 |
$65 |
$70 |
|
Pre-Tax NPV 5% $000 |
$20,914 |
$50,970 |
$71,199 |
|
Pre-Tax IRR |
17% |
30% |
39% |
Mineral Resources
The mineral resources used in this PEA include Indicated mineral resources estimated by Douglas Beahm. The resources are found in two different stacked sands currently identified on the Juan Tafoya-Marquez property. Mineralization occurs in a third upper sand but is insufficiently defined to be included in this report. The in-situ estimates used electronic logs from 926 drill holes and over 575,809 meters of drilling.
Indicated Mineral Resources
|
Indicated Mineral Resources |
|||
|
Minimum 0.60 GT |
TONS |
%eU3O8 |
Pounds |
|
C Sand |
1,426,355 |
0.156 |
4,455,706 |
|
D Sand |
5,685,244 |
0.120 |
13,678,258 |
|
TOTAL |
7,111,599 |
0.127 |
18,133,964 |
|
ROUNDED TOTAL (x 1,000) |
7,100 |
0.127 |
18,100 |
Disclosure
The PEA is only summarized in this press release as an initial high-level review of the project the complete detailed report will be filed on SEDAR within 30 days of this press release. The PEA is preliminary in nature. There is no guarantee that the project economics described in this report will be achieved.
Qualified Persons
The independent qualified persons responsible for preparing the Juan Tafoya-Marquez Preliminary Economic Assessment are Douglas L. Beahm, P.E., P.G., of BRS Inc. and Terence P. McNulty, of McNulty and Associates.
Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Company’s designated Qualified Person (QP) for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is consistent with that provided by the QP’s responsible for the PEA.
About enCore Energy Corp.
enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources including the NI 43-101 resources at the partially permitted Crownpoint-Hosta Butte property and the NI-43-101 resources at the Juan Tafoya-Marquez property.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
SOURCE enCore Energy Corp.
enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results and combined, N.I. 43-101 Technical Report for its Juan Tafoya-Marquez Project, New Mexico
enCore Energy Announces Positive Preliminary Economic Assessment (PEA) Results and combined, N.I. 43-101 Technical Report for its Juan Tafoya-Marquez Project, New Mexico
CORPUS CHRISTI, Texas, June 24, 2021 /PRNewswire/ – enCore Energy Corp. (TSXV: EU) (OTCQB: ENCUF) (the “Company” or “enCore“) is pleased to announce the results of a Preliminary Economic Assessment (“PEA”) for the company’s recently consolidated Juan Tafoya and Marquez projects located in the Grant’s Uranium District in northwest New Mexico. This is the first PEA for the projects as this is the only time in recent history that the two contiguous mineralized properties have been held under the same company. The PEA was constructed based on a combined and updated NI 43-101 Technical Report using an Indicated resource of 7.1 million tons at a grade of 0.127% eU3O8 for a total of 18.1 million pounds of U3O8.
The PEA reports the Net Present Value (“NPV”) for the project that ranges from $20.9 million using $60.00 per pound of yellowcake (U3O8) to $71.2 million using $70.00 per pound of yellowcake with internal rate of returns (“IRR”) ranging from 17% to 39% with corresponding yellowcake prices; these scenarios are pre-tax and assume a 7% discount rate. The break-even price of production is estimated to be $56.00 per pound.
“This initial PEA enables enCore to illustrate the economic opportunities of the combined Juan Tafoya and Marquez deposits which have been consolidated with the Westwater Resources transaction completed at year end 2020. This report assumed conventional underground operation and recovery through a newly constructed conventional mill, though the authors did acknowledge that further research may prove the property amenable to either in-situ recovery (“ISR”) or heap leach processing; either of which would have a positive material impact on the economic conclusions of the current PEA.” said Paul Goranson, Chief Executive Officer. “This study points to the economic importance of our conventional assets in New Mexico, with further work it may well be determined that some, or conceivably most, of the uranium at Juan Tafoya-Marquez might be amenable to lower cost recovery options including ISR or heap leaching.”
The PEA evaluated the economics of mining at Juan Tafoya-Marquez through underground mining and on-site processing (milling) to produce yellowcake. The study has an effective date of June 9, 2021, and was prepared by Douglas L. Beahm, P.E, P.G., of BRS Inc. in cooperation with Terence P. McNulty, P.E., PhD, of McNulty and Associates.
PEA Summary Mine Plan and Operating Assumptions
|
Total Tons mined |
6,033,000 |
|
Total Tons Waste mined |
1,392,000 |
|
Total Tons of Resource mined |
4,641,000 |
|
Total Pounds Yellowcake ( U3O8 ) Contained |
12,184,000 |
|
Average Diluted Grade % U3O8 |
0.188% |
|
Total Pounds U3O8 Recovered @ 95% recovery |
11,575,000 |
|
Life of Mine |
15 years |
PEA Summary Capital and Operating Costs
|
Initial Capital Costs (including contingency) |
|
|
Mine Direct Capital |
$42,110,000 |
|
Mill and Tailings Capital |
$37,200,000 |
|
Total LOM Capital Costs |
$79,310,000 |
Life of Mine Cost Summary
|
Cost Center |
Total Cost US$ (x1,000)* |
Cost per Pound Recovered US$ |
|
OPEX Mine |
$308,000 |
$26.62 |
|
OPEX Mill |
$184,000 |
$15.90 |
|
Decommissioning and Reclamation |
$13,000 |
$1.11 |
|
Taxes and Royalties |
$53,000 |
$4.55 |
|
TOTAL OPEX (LOM) |
$558,000 |
$48.10* |
|
*rounded |
PEA Summary Economics at $60.00/lb. Yellowcake (U3O8)
|
Pre-tax and Royalty NPV at 7% |
$20,595,000 |
|
Pre-tax and Royalty IRR |
17% |
|
Post Tax and Royalty NPV at 5% |
$18,473,000 |
|
Post Tax and Royalty IRR |
16% |
|
Post Tax payback |
5.0 years |
|
Total LOM Revenue |
$694,474,000 |
|
Total LOM Direct Costs |
$523,699,000 |
|
Total LOM Royalties |
$33,566,000 |
|
Total LOM Taxes |
$3,225,000 |
|
Total cash Flow after taxes and royalties |
$54,674,000 |
|
Cash Cost ($/lb. U3O8) |
$42.53 |
The base case summarized above assumes the owner will purchase all mining equipment. The base case assumes mining and milling at an average rate of 1000 tons per day year-round
Sensitivities
|
U3O8 Price US$/lb |
$60 |
$65 |
$70 |
|
Pre-Tax NPV 5% $000 |
$20,914 |
$50,970 |
$71,199 |
|
Pre-Tax IRR |
17% |
30% |
39% |
Mineral Resources
The mineral resources used in this PEA include Indicated mineral resources estimated by Douglas Beahm. The resources are found in two different stacked sands currently identified on the Juan Tafoya-Marquez property. Mineralization occurs in a third upper sand but is insufficiently defined to be included in this report. The in-situ estimates used electronic logs from 926 drill holes and over 575,809 meters of drilling.
Indicated Mineral Resources
|
Indicated Mineral Resources |
|||
|
Minimum 0.60 GT |
TONS |
%eU3O8 |
Pounds |
|
C Sand |
1,426,355 |
0.156 |
4,455,706 |
|
D Sand |
5,685,244 |
0.120 |
13,678,258 |
|
TOTAL |
7,111,599 |
0.127 |
18,133,964 |
|
ROUNDED TOTAL (x 1,000) |
7,100 |
0.127 |
18,100 |
Disclosure
The PEA is only summarized in this press release as an initial high-level review of the project the complete detailed report will be filed on SEDAR within 30 days of this press release. The PEA is preliminary in nature. There is no guarantee that the project economics described in this report will be achieved.
Qualified Persons
The independent qualified persons responsible for preparing the Juan Tafoya-Marquez Preliminary Economic Assessment are Douglas L. Beahm, P.E., P.G., of BRS Inc. and Terence P. McNulty, of McNulty and Associates.
Douglas H. Underhill, PhD, CPG, enCore’s Chief Geologist, is the Company’s designated Qualified Person (QP) for this news release within the meaning of NI 43-101 and has reviewed and validated that the information contained in the release is consistent with that provided by the QP’s responsible for the PEA.
About enCore Energy Corp.
enCore Energy Corp. is a U.S. domestic uranium developer focused on becoming a leading in-situ recovery (ISR) uranium producer. The Company is led by a team of industry experts with extensive knowledge and experience in the development and operations of in situ recovery uranium operations. enCore Energy’s opportunities are created from the Company’s transformational acquisition of its two South Texas production facilities, the changing global uranium supply/demand outlook and opportunities for industry consolidation. These short-term opportunities are augmented by our strong long term commitment to working with local indigenous communities in New Mexico where the company holds significant uranium resources including the NI 43-101 resources at the partially permitted Crownpoint-Hosta Butte property and the NI-43-101 resources at the Juan Tafoya-Marquez property.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change.
SOURCE enCore Energy Corp.
Clean vs Dirty Electrons on Power Grid
Image Credit: Amazon
Big Tech Doing Whatever it Takes to Demonstrate Commitment to Green Solutions
An increasingly digitized world leads to increasing demand for data centers and concomitant electricity. As large data center companies like Google, Microsoft, Amazon, and Facebook try to appease investors by maintaining above-average ESG scores, some have committed to using only renewable energy in the coming years. The challenge in the magnitude of growth in energy usage isn’t whether they can buy “clean” electrons, it’s whether the increased electric demand they cause is forcing electric production from non-renewables to be used at higher amounts elsewhere. Net/net, the added emitted carbon would indirectly be caused by them.
The Challenge
Data-intensive technologies include everything from social media giants, video streaming providers, artificial intelligence, smart and connected energy systems, distributed manufacturing systems, and even new technologies such as autonomous vehicles. These all promise to increase demand for energy, they are all energy-intensive. Data centers today are estimated to account for around 1% of worldwide electricity use.
The companies that have the largest data centers have corporate commitments related to clean energy. This has led the large tech companies to compete to secure electricity deals with renewable sources to continue operations while also moving toward more green corporations. If these moves don’t reduce emissions but instead cause a ramp-up of a fossil fuel plant in another part of town to go out to residential consumers, the companies have failed at their goal; they could actually increase total emissions.
Surprising Solution
On Wednesday (June 23) Amazon.com announced commitments to buy electric green electric generating capacity in the amount of 1.5 gigawatts. The purchases are from 14 new solar and wind plants in different parts of the world. Amazon is pushing to purchase enough renewable generating capacity to cover all of the company’s activities by 2025.
Public, non-utility companies are stepping in to finance the transition to a more sustainable economy to at least make sure they are not creating a dirty KWh shell game with their energy usage. In some countries, tech companies’ ability and willingness to sign commitments to buy energy at a certain price for long periods and pay upfront has placed capitalism as more impactful than government subsidies as the main driver of renewable improvements.
Amazon is the largest renewable energy purchaser worldwide, with the rest of the top six being French oil company Total Energies, AT&T, Google, Facebook, and Microsoft. According to BloombergNEF, these companies account for 30% of the 25.7 gigawatts of the cumulative total capacity purchased from corporations.
The challenge now is showing if these green power purchases are replacing power that would be generated from carbon-emitting plants or simply increasing power generation to feed their own growing energy consumption. This is important because the companies want to express to the world that they are reducing total carbon output. It’s great to not be part of the problem, but your corporate halo shines even brighter if you can show you are part of the solution.
According to the Wall
Street Journal, Nat Sahlstrom, director of energy at Amazon Web Services, said the company looks for projects where it can be first to set up a commercial template other companies can follow to help jump-start demand. And, that Amazon only selects projects based on whether its purchasing commitments are pivotal to the projects’ viability. “If not for our investments in these projects, they would not have gone forward,” the Amazon director of energy said.
Changing Roles
You read the last paragraph correctly, Amazon has a director of energy in their web services division. Big tech companies have built up in-house teams with former deal makers at electrical utilities who are outsourcing deals directly with providers. These deals are big enough they aren’t brokered; there’s no need to be introduced by a middleman when you’re Amazon or Google, they’re given high priority.
One advantage these dealmakers have is there need not be any kind of financing in many of the arrangements. If there is bank financing, the power purchase agreements (PPA) are so strong, they are given favorable terms.
Take-Away
If the pool of available electricity is X% renewables, and Y% fossil, just because your company is buying only from the renewables doesn’t mean you’re any better of a corporate citizen than those who are buying from the overall pool, which then consists of more fossil fuel-generated energy. What data centers are doing to quench their ever-growing appetite is proactively working with renewable energy providers to build more output onto the grid that meets or even exceeds their current and future demands.
Channelchek, Managing Editor
Suggested Reading:
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The Increasing Popularity of Uranium Investments
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Advanced Battery Storage Goals of the US Dept. of Energy
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The PCE Deflator and the Trimmed PCE Inflation Rate Tell Different Stories
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Most Watched Channelchek C-Suite Interviews from 2020
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Sources:
https://www.sustainalytics.com/esg-rating/facebook-inc/1028643709/
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Tony Wells Joins Gevo as General Manager for Net-Zero 1
Tony Wells Joins Gevo as General Manager for Net-Zero 1
ENGLEWOOD, Colo., June 24, 2021 (GLOBE NEWSWIRE) — Gevo, Inc. (NASDAQ:GEVO), announced today that Tony Wells has joined Gevo as its General Manager/Site Leader for its future Net-Zero 1 facility expected to be located in Lake Preston, South Dakota. Mr. Wells brings 30+ years of operations management, engineering, and business development experience across industries including corn milling, food processing, ethanol and biodiesel production. He is expected to lead and assemble the organization that will operate the Net-Zero 1 facility.
“Tony is the real deal. He is a ‘been there, done it’ person and a skilled general manager. He knows how to build teams and operations. His experience in engineering and plant design should not be lost on anyone either. We are glad to have him with us. He’s good,” said Dr. Patrick R. Gruber, Gevo’s Chief Executive Officer.
“Becoming part of the team behind Net-Zero 1 is a monumental privilege,” said Mr. Wells. “Assembling the team that will be the driving force of this first of its kind, state-of-the-art facility is the highlight of my career,” continued Mr. Wells.
About Gevo
Gevo’s mission is to transform renewable energy and carbon into energy-dense liquid hydrocarbons. These liquid hydrocarbons can be used for drop-in transportation fuels such as gasoline, jet fuel and diesel fuel, that when burned have potential to yield net-zero greenhouse gas emissions when measured across the full life cycle of the products. Gevo uses low-carbon renewable resource-based carbohydrates as raw materials, and is in an advanced state of developing renewable electricity and renewable natural gas for use in production processes, resulting in low-carbon fuels with substantially reduced carbon intensity (the level of greenhouse gas emissions compared to standard petroleum fossil-based fuels across their life cycle). Gevo’s products perform as well or better than traditional fossil-based fuels in infrastructure and engines, but with substantially reduced greenhouse gas emissions. In addition to addressing the problems of fuels, Gevo’s technology also enables certain plastics, such as polyester, to be made with more sustainable ingredients. Gevo’s ability to penetrate the growing low-carbon fuels market depends on the price of oil and the value of abating carbon emissions that would otherwise increase greenhouse gas emissions. Gevo believes that its proven, patented technology enabling the use of a variety of low-carbon sustainable feedstocks to produce price-competitive low-carbon products such as gasoline components, jet fuel and diesel fuel yields the potential to generate project and corporate returns that justify the build-out of a multi-billion-dollar business.
Gevo believes that the Argonne National Laboratory GREET model is the best available standard of scientific-based measurement for life cycle inventory or LCI.
Learn more at Gevo’s website: www.gevo.com
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to a variety of matters, without limitation, including the hiring of Tony Wells, Gevo’s technology, Gevo’s Net-Zero 1 project, Gevo’s products, Gevo’s ability to produce products with “net-zero” greenhouse gas emissions, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Gevo and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Gevo undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Gevo believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Gevo in general, see the risk disclosures in the Annual Report on Form 10-K of Gevo for the year ended December 31, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the U.S. Securities and Exchange Commission by Gevo.
Investor and Media Contact
+1 720-647-9605
IR@gevo.com
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