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AES Sets Robust Near- and Long-Term Goals; Announces Key Developments at Uplight and in Green Hydrogen

ARLINGTON, Va., March 3, 2021 /PRNewswire/ —

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ARLINGTON, Va., March 3, 2021 /PRNewswire/ —

Highlights Through 2025

Raising renewables growth target by 40% to 3 to 4 GW of long-term PPAs per year
Increasing investments at US utilities to achieve annual rate base growth of 9%
Accelerating goal to reduce coal generation to below 10% by 2025 on a proforma basis, five years earlier than the prior expectation
Continuing to strengthen balance sheet and targeting BBB credit metrics
Extending 7% to 9% average annual growth target for Adjusted EPS and Parent Free Cash Flow, from a 2020 base
Maintaining 4% to 6% annual dividend growth, subject to Board approval

Other Key Developments

Schneider Electric and private investors agree to invest in Uplight, valuing the business at $1.5 billion and AES’ stake at approximately $450 million
AES Gener signed a Memorandum of Understanding with an established international hydrogen producer to conduct a feasibility study for the first large green hydrogen-based ammonia project in Chile
Setting a new target to achieve portfolio-wide net zero carbon emissions from electricity sales by 2040

The AES Corporation (NYSE: AES) today announced robust near- and long-term goals.

«The energy sector is evolving as a result of decarbonization, electrification and digitalization, and AES is uniquely positioned to take advantage of this shift,» said Andrés Gluski, AES President and Chief Executive Officer. «Over the next five years, we will further transform our portfolio by materially accelerating our growth in renewables and at our US utilities. As a result, by 2025 we expect that more than 50% of our earnings will come from the US and more than 65% will come from renewables and our US utilities. Furthermore, today we are accelerating our target to reduce our generation from coal to below 10% by year-end 2025, by five years on a proforma basis, and initiating a target to achieve portfolio-wide net zero carbon emissions from electricity sales by 2040.»

«We continue to focus on delivering a compelling total return to shareholders and to that end, today, we are extending our target for 7% to 9% average annual growth in Adjusted EPS and Parent Free Cash Flow through 2025. This reflects the highly contracted nature of our portfolio and the attractive investment opportunities we are seeing in renewables, US utilities and LNG infrastructure,» said Gustavo Pimenta, AES Executive Vice President and Chief Financial Officer. «At the same time, we will continue to strengthen our balance sheet by growing our cash flow to achieve and maintain BBB credit metrics.»

Uplight, an equity method investment of AES, is the technology partner of energy providers transitioning to the clean energy ecosystem, announced today that it has signed an investment agreement with a consortium of investors, including Schneider Electric (EURONEXT: SU), and private investors, including Coatue Management and Inclusive Capital Partners. This transaction values Uplight at $1.5 billion and following closing, AES’ effective economic interest in Uplight will be approximately 30%. This transaction is subject to regulatory approvals and customary closing conditions.

AES Gener signed a Memorandum of Understanding in February 2021 with an established international hydrogen producer to conduct a feasibility study for the first large green hydrogen-based ammonia project in Chile. This project has the potential to require more than 800 MW of new renewable energy supply.

Guidance and Expectations¹

The Company is extending its average annual growth rate target of 7% to 9% through 2025 for both Adjusted EPS and Parent Free Cash Flow, from a 2020 base.

The Company’s average annual growth through 2025 is expected to be primarily driven by: contributions from annual renewables additions of 3 to 4 GW; rate base growth at US utilities; investments in LNG infrastructure in the Company’s Mexico, Central America and the Caribbean Strategic Business Unit (SBU) and in Vietnam; and growth at existing businesses. The Company’s average annual growth rate target through 2025 also includes the impact from contract roll-offs through 2025, and announced asset sales and additional retirements in order to achieve the Company’s 2025 decarbonization goal.

The Company is also reaffirming its 2021 guidance for Adjusted EPS of $1.50 to $1.58, compared to 2020 Adjusted EPS of $1.44. The Company is also reaffirming its expectation for 2021 Parent Free Cash Flow of $775 to $825 million, compared to 2020 Parent Free Cash Flow of $777 million.

^{1 Adjusted EPS and Parent Free Cash Flow are non-GAAP financial measures. See attached «Non-GAAP Measures» for definitions of Adjusted EPS and Parent Free Cash Flow, a description of the adjustments to reconcile Adjusted EPS to Diluted EPS for the year ended December 31, 2020. The Company is not able to provide corresponding GAAP equivalent or reconciliation for its Adjusted EPS guidance and Parent Free Cash Flow expectations without unreasonable effort.}

The Company is also accelerating its goal to reduce coal generation to below 10% by 2025 on a proforma basis², five years earlier than its prior expectation. Additionally, the Company is setting a new target to achieve portfolio-wide net zero carbon emissions from electricity sales by 2040.

^{2 Based on annual generation in MWh from the portfolio as of, or expected by the relevant date, adjusted for: (i) (+) generation from new assets added to the portfolio; and (ii) (-) actual generation from announced asset sales or retirements.}

Conference Call Information

AES will host a Virtual Investor Day on Wednesday, March 3, 2021 at 9:00 a.m. Eastern Standard Time (EST). It will be open to the media and the public in listen-only mode by telephone and webcast. Interested parties may listen to the teleconference by dialing 1-888-317-6003 at least ten minutes before the start of the call. International callers should dial +1-412-317-6061. The Conference ID for this call is 9119894. Internet access to the event and presentation materials will be available on the AES website at www.aes.com by selecting «Investors» and then «Presentations and Webcasts.»

A webcast replay, as well as a replay in downloadable MP3 format, will be accessible at www.aes.com beginning shortly after the completion of the event.

About AES

The AES Corporation (NYSE: AES) is a Fortune 500 global energy company accelerating the future of energy. Together with our many stakeholders, we’re improving lives by delivering the greener, smarter energy solutions the world needs. Our diverse workforce is committed to continuous innovation and operational excellence, while partnering with our customers on their strategic energy transitions and continuing to meet their energy needs today. For more information, visit www.aes.com.

Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’ current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, our expectations regarding the COVID-19 pandemic, accurate projections of future interest rates, commodity price and foreign currency pricing, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as the execution of PPAs, conversion of our backlog and growth investments at normalized investment levels and rates of return consistent with prior experience.

Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’ filings with the Securities and Exchange Commission (the «SEC»), including, but not limited to, the risks discussed under Item 1A: «Risk Factors» and Item 7: «Management’s Discussion & Analysis» in AES’ 2019 Annual Report on Form 10-K and in subsequent reports filed with the SEC. Readers are encouraged to read AES’ filings to learn more about the risk factors associated with AES’ business. AES undertakes no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

Any Stockholder who desires a copy of the Company’s 2020 Annual Report on Form 10-K filed February 25, 2021 with the SEC may obtain a copy (excluding Exhibits) without charge by addressing a request to the Office of the Corporate Secretary, The AES Corporation, 4300 Wilson Boulevard, Arlington, Virginia 22203. Exhibits also may be requested, but a charge equal to the reproduction cost thereof will be made. A copy of the Form 10-K may be obtained by visiting the Company’s website at www.aes.com.

Website Disclosure

AES uses its website, including its quarterly updates, as channels of distribution of Company information. The information AES posts through these channels may be deemed material. Accordingly, investors should monitor our website, in addition to following AES’ press releases, quarterly SEC filings and public conference calls and webcasts. In addition, you may automatically receive e-mail alerts and other information about AES when you enroll your e-mail address by visiting the «Subscribe to Alerts» page of AES’ Investors website. The contents of AES’ website, including its quarterly updates, are not, however, incorporated by reference into this release.

THE AES CORPORATION
NON-GAAP FINANCIAL MEASURES
(Unaudited)
RECONCILIATION OF ADJUSTED PRE-TAX CONTRIBUTION (PTC) AND ADJUSTED EPS

Adjusted PTC is defined as pre-tax income from continuing operations attributable to The AES Corporation excluding gains or losses of the consolidated entity due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses, benefits and costs associated with dispositions and acquisitions of business interests, including early plant closures, and gains and losses recognized at commencement of sales-type leases; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations, and office consolidation; and (g) net gains at Angamos, one of our businesses in the South America SBU, associated with the early contract terminations with Minera Escondida and Minera Spence. Adjusted PTC also includes net equity in earnings of affiliates on an after-tax basis adjusted for the same gains or losses excluded from consolidated entities.

Adjusted EPS is defined as diluted earnings per share from continuing operations excluding gains or losses of both consolidated entities and entities accounted for under the equity method due to (a) unrealized gains or losses related to derivative transactions and equity securities; (b) unrealized foreign currency gains or losses; (c) gains, losses, benefits and costs associated with dispositions and acquisitions of business interests, including early plant closures, the tax impact from the repatriation of sales proceeds, and gains and losses recognized at commencement of sales-type leases; (d) losses due to impairments; (e) gains, losses and costs due to the early retirement of debt; (f) costs directly associated with a major restructuring program, including, but not limited to, workforce reduction efforts, relocations and office consolidation; (g) net gains at Angamos, one of our businesses in the South America SBU, associated with the early contract terminations with Minera Escondida and Minera Spence; and (h) tax benefit or expense related to the enactment effects of 2017 U.S. tax law reform and related regulations and any subsequent period adjustments related to enactment effects.

The GAAP measure most comparable to Adjusted PTC is income from continuing operations attributable to The AES Corporation. The GAAP measure most comparable to Adjusted EPS is diluted earnings per share from continuing operations. We believe that Adjusted PTC and Adjusted EPS better reflect the underlying business performance of the Company and are considered in the Company’s internal evaluation of financial performance. Factors in this determination include the variability due to unrealized gains or losses related to derivative transactions or equity securities remeasurement, unrealized foreign currency gains or losses, losses due to impairments, strategic decisions to dispose of or acquire business interests, retire debt or implement restructuring initiatives, and the non-recurring nature of the impact of the early contract terminations at Angamos, which affect results in a given period or periods. In addition, for Adjusted PTC, earnings before tax represents the business performance of the Company before the application of statutory income tax rates and tax adjustments, including the effects of tax planning, corresponding to the various jurisdictions in which the Company operates. Adjusted PTC and Adjusted EPS should not be construed as alternatives to income from continuing operations attributable to The AES Corporation and diluted earnings per share from continuing operations, which are determined in accordance with GAAP.

For the year ended December 31, 2020, the Company changed the definitions of Adjusted Operating Margin, Adjusted PTC and Adjusted EPS to exclude net gains at Angamos, one of our businesses in the South America SBU, associated with the early contract terminations with Minera Escondida and Minera Spence. We believe the inclusion of the effects of this non-recurring transaction would result in a lack of comparability in our results of operations and would distort the metrics that our investors use to measure us.

THE AES CORPORATION NON-GAAP FINANCIAL MEASURES (Unaudited) RECONCILIATION OF ADJUSTED PRE-TAX CONTRIBUTION (PTC) AND ADJUSTED EPS

	Twelve Months Ended December 31, 2020
	Net of NCI (1)		Per Share (Diluted) Net of NCI (1)
(in millions, except per share amounts)
Income (loss) from continuing operations, net of tax, attributable to AES and Diluted EPS	$	43	$	0.06
Add: Income tax expense from continuing operations attributable to AES	130
Pre-tax contribution	$	173
Adjustments
Unrealized derivative and equity securities losses	$	3	$	0.01
Unrealized foreign currency losses (gains)	(10)		(0.01)
Disposition/acquisition losses (gains)	112		0.17		(2)
Impairment losses	928		1.39		(3)
Loss on extinguishment of debt	223		0.33		(4)
Net gains from early contract terminations at Angamos	(182)		(0.27)		(5)
U.S. Tax Law Reform Impact			0.02		(6)
Less: Net income tax benefit			(0.26)		(7)
Adjusted PTC and Adjusted EPS	$	1,247	$	1.44

_____________________________

⁽¹⁾	NCI is defined as Noncontrolling Interests.
⁽²⁾	Amount primarily relates to loss on sale of Uruguaiana of $85 million, or $0.13 per share, loss on sale of the Kazakhstan HPPs of $30 million, or $0.05 per share, as a result of the final arbitration decision, and advisor fees associated with the successful acquisition of additional ownership interest in AES Brasil of $9 million, or $0.01 per share; partially offset by gain on sale of OPGC of $23 million, or $0.03 per share.
⁽³⁾	Amount primarily relates to asset impairments at Gener of $527 million, or $0.79 per share, other-than-temporary impairment of OPGC of $201 million, or $0.30 per share, impairments at our Guacolda and sPower equity affiliates, impacting equity earnings by $85 million, or $0.13 per share, and $57 million, or $0.09 per share, respectively; impairment at Hawaii of $38 million, or $0.06 per share, and impairment at Panama of $15 million, or $0.02 per share.
⁽⁴⁾	Amount primarily relates to losses on early retirement of debt at the Parent Company of $146 million, or $0.22 per share, DPL of $32 million, or $0.05 per share, Angamos of $17 million, or $0.02 per share, and Panama of $11 million, or $0.02 per share.
⁽⁵⁾	Amount represents adjustment to tax law reform remeasurement due to incremental deferred taxes related to DPL of $16 million, or $0.02 per share.
⁽⁶⁾	Amount primarily relates to income tax benefits associated with the impairments at Gener and Guacolda of $164 million, or $0.25 per share, and income tax benefits associated with losses on early retirement of debt at the Parent Company of $31 million, or $0.05 per share; partially offset by income tax expense related to net gains at Angamos associated with the early contract terminations with Minera Escondida and Minera Spence of $49 million, or $0.07 per share.
⁽⁷⁾	Amount primarily relates to the income tax benefits associated with the impairments at OPGC of $23 million, or $0.03 per share, Guacolda of $13 million, or $0.02 per share, Hawaii of $13 million, or $0.02 per share, and Kilroot and Ballylumford of $11 million, or $0.02 per share, and income tax benefits associated with losses on early retirement of debt of $24 million, or $0.04 per share; partially offset by an adjustment to income tax expense related to 2018 gains on sales of business interests, primarily Masinloc, of $25 million, or $0.04 per share.

Reconciliation of Parent Free Cash Flow¹

$ in Millions	December 31, 2020
Net Cash Provided by Operating Activities at the Parent Company²	$434
Subsidiary Distributions to QHCs Excluded from Schedule 1³	198
Subsidiary Distributions Classified in Investing Activities⁴	238
Parent-Funded SBU Overhead and Other Expenses Classified in Investing or Financing Activities	(85)
Other	(8)
Parent Free Cash Flow¹	$777

¹	Parent Free Cash Flow (a non-GAAP financial measure) should not be construed as an alternative to Consolidated Net Cash Provided by Operating Activities, which is determined in accordance with US GAAP. Parent Free Cash Flow is equal to Subsidiary Distributions less cash used for interest costs, development, general and administrative activities, and tax payments by the Parent Company. Management uses Parent Free Cash Flow to determine the cash available to pay dividends, repay recourse debt, make equity investments, fund share buybacks, pay Parent Company hedging costs and make foreign exchange settlements. We believe that Parent Free Cash Flow is useful to investors because it better reflects the Parent Company’s cash available to make growth investments, pay shareholder dividends, and make principal payments on recourse debt. Factors in this determination include availability of subsidiary distributions to the Parent Company and the Company’s investment plan.
²	Refer to Part IV—Item 15—Schedule I—Condensed Financial Information of Registrant of the Company’s 2020 10-K filed with the SEC on February 25, 2021.
³	Subsidiary distributions received by Qualified Holding Companies («QHCs») excluded from Schedule 1. Subsidiary Distributions should not be construed as an alternative to Consolidated Net Cash Provided by Operating Activities, which is determined in accordance with US GAAP. Subsidiary Distributions are important to the Parent Company because the Parent Company is a holding company that does not derive any significant direct revenues from its own activities but instead relies on its subsidiaries’ business activities and the resultant distributions to fund the debt service, investment and other cash needs of the holding company. The reconciliation of the difference between the Subsidiary Distributions and Consolidated Net Cash Provided by Operating Activities consists of cash generated from operating activities that is retained at the subsidiaries for a variety of reasons which are both discretionary and non-discretionary in nature. These factors include, but are not limited to, retention of cash to fund capital expenditures at the subsidiary, cash retention associated with non-recourse debt covenant restrictions and related debt service requirements at the subsidiaries, retention of cash related to sufficiency of local GAAP statutory retained earnings at the subsidiaries, retention of cash for working capital needs at the subsidiaries, and other similar timing differences between when the cash is generated at the subsidiaries and when it reaches the Parent Company and related holding companies.
⁴	Subsidiary distributions that originated from the results of operations of an underlying investee but were classified as investing activities when received by the relevant holding company included in Schedule 1.
⁵	Net cash payments for parent-funded SBU overhead, business development, taxes, transaction costs, and capitalized interest that are classified as investing activities or excluded from Schedule 1.

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SOURCE The AES Corporation

Turntide Technologies Raises $80M With Investments From Breakthrough Energy Ventures And Robert Downey Jr.’s FootPrint Coalition Ventures

SUNNYVALE, Calif., March 3, 2021 /PRNewswire/ — Turntide Technologies («Turntide»), the company responsible for the Smart Motor System™ and the Optimal Efficiency Motor™ with digital DNA, today announced the completion of an $80 million funding round, bringing the company’s total funding to date to $180 million. The round was led by Breakthrough Energy Ventures and includes investments from Robert Downey Jr.’s FootPrint Coalition Ventures, the Amazon Climate Pledge Fund, Keyframe Capital, Fifth Wall’s Climate Technology Fund and Captain Planet LP.

The electric motors powering our world today account for half of global electricity consumption – more than lighting, heating, and electronics combined. As our climate changes and economy grows, the global demand for electric motors will continue to rise. With this new funding, Turntide plans to expand development and production of its Smart Motor System to meet growing demand and extend it into new applications.

«Our investors recognize the critical role that technology will play in our fight against climate change. To curb the carbon emissions driving this crisis, we all need to change the way that we use energy. That starts with modernizing the technology that is currently powering our world,» said Turntide’s CEO and Chairman, Ryan Morris. «With the support from our investors, Turntide will increase production of our Smart Motor System and ramp up motor retrofitting to provide cost-effective and energy-efficient motors to businesses around the world.»

Turntide’s Smart Motor System is designed around its revolutionary switched reluctance motor (SRM) technology. SRMs have been used for decades in environments that demand 100% dependability. But recent advances in supporting technologies have permitted Turntide to develop a patented, cloud-connected SRM that can power anything, using a fraction of the energy of the legacy AC induction motors in 98% of the world’s machines.

Funding will also be used to accelerate deployment and advance development of Riptide, a cloud-based building automation software platform that Turntide recently agreed to acquire. Turntide plans to expand further into building automation by improving and extending the company’s Building Operation System («BOS») platform to office buildings, retail locations, schools, and more.

Last month at the World Economic Forum (Davos), Robert Downey Jr. announced the launch of FootPrint Coalition Ventures as a rolling fund on the AngelList platform, with a mission to accelerate groundbreaking sustainable technologies through both investment and a unique content strategy that aims to turn complex subjects into culture-defining content. «Turntide’s technology and approach to restoring our planet will directly reduce energy consumption,» said Steve Levin, co-founder of FootPrint Coalition Ventures. «We are interested in supporting companies with innovative and sustainability-focused ideas like Turntide’s Smart Motor System. This technology has the potential to improve the planet in a meaningful way, and we look forward to supporting their efforts.»

«Turntide’s Smart Motor System addresses a huge market with innovation that not only is higher efficiency, but also lower cost,» said Carmichael Roberts, Breakthrough Energy Ventures. «The applications for this type of solution are incredibly broad and impactful, and we’re proud to be working with the team at Turntide as they revolutionize the motor industry.»

«Amazon created The Climate Pledge Fund to support the development of technologies and services that will enable Amazon and other companies to reach the goals of the Paris Agreement 10 years early—achieving net-zero carbon by 2040,» said Kara Hurst, Vice President of Worldwide Sustainability at Amazon. «We are excited to be both an investor in and a customer of Turntide as they help us on the journey to decarbonize our operations.»

«There is no question that a high efficiency electric motor that does not use environmentally destructive rare earth minerals is needed,» said Sergey Polikarpov, Managing Partner of Captain Planet LP. «The prophecy of switched reluctance must be fulfilled to preserve the planet.»

Companies including Amazon, BMW, Five Guys, Sprouts, and JLL have retrofitted old motors with the Smart Motor System, reducing their HVAC motor energy consumption by 64% on average. Turntide also works with Pacific Energy Concepts, providing their Smart Motor System for HVAC solutions.

«We partner with some of the best and brightest businesses in North America to help them reduce their environmental impact. Our partners trust that we’ll only bring them the very best energy-efficiency solutions to match their sustainability goals with their greater business objectives,» said Keith Scott, Founder and CEO of Pacific Energy Concepts. «When evaluating the Turntide Smart Motor System it was clear to us that it provides the most compelling HVAC optimization solution on the market, especially when compared to many legacy solutions currently available. We believe in the revolutionary capabilities of this solution that’s why we offer it to our partners.»

Previously announced investors in Turntide include Meson Capital, BMW i Ventures, JLL Spark, WIND Ventures, and Tony Fadell’s Future Shape.

Learn more about Turntide Technologies and the Smart Motor System at turntide.com.

About Turntide
Headquartered in Sunnyvale, California, Turntide makes the world’s most reliable, efficient, and intelligent motor system. Unlike most clean tech products, our switched reluctance motor technology is actually less expensive to own and operate than its conventional alternative. When this revolutionary motor is combined with IoT building automation technology, the result is optimal efficiency. Turntide sells motors in form factors for a number of applications, up to 15 HP. The Smart Motor System advances sustainability goals, saves money, and minimizes maintenance calls. For more information, visit https://turntide.com/ or follow the company on YouTube, Twitter, and LinkedIn.

MEDIA CONTACT
Simone Jackenthal – Trident DMG
202-923-5296
sjackenthal@tridentdmg.com

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SOURCE Turntide Technologies

Sustain Shave Club™ helps members Shave and Save the environment: 35% Wheat Straw Disposable Razors, 100% Recycled Packaging, One Tree Planted and Carbon Neutral Shipping

KEENE, N.H., March 3, 2021 /PRNewswire-PRWeb/ — Plastic is a problem. The EPA estimates that 2 billion disposable razors are thrown away each year. This is an outstanding amount of waste and plastic pollution. The supply of this pollution is the demand for disposable razors around the world. The total disposable razor blade market is expected to reach 4.31 Billion USD by 2027.

Most solutions to the problem advocate the same solution: Stop using disposable…

Most solutions to the problem advocate the same solution: Stop using disposable plastic and use reusable razors and shaving supplies. These can include double edge shavers and or reusable handle razor systems. These eco solutions have been increasing in use across the United States and the world.

However, there are reasons why singular use disposable razors are sometimes necessary. The hospitality and medical industries need shaving supplies that can be sanitary and safely disposed. The majority of disposable razor use is from large companies such as hotels, tattoo shops, medspas, fitness clubs etc. This is why we have launched the Sustain Shave Club. Our goal is to create a disposable razor that is truly biodegradable.

The Sustain Shave Club™ is a monthly membership which includes the following:
10 partially biodegradable razors (35% Wheat Straw / 65% Plastic), 100% recycled and/or biodegradable packaging, carbon neutral shipping offsets per order, One Tree Planted per order, 100% recycled paper marketing materials and business cards, and recycled tape and packaging materials.

By supporting the Sustain Shave Club™, you are directly supporting investment and business development in the design and creation of fully biodegradable razors within ten years. Our goals include the reduction of plastic by 10% annually until the razor handle is made up of 100% compostable materials, besides the blade itself. The shaving blade section of the razor will always need to be recycled. Reducing the razor handle to 100% compostable could in theory reduce the plastic waste created from disposable razors by 92%. Sustain Shave Club™ hopes to reduce carbon shipping impacts by 1,000 KG of CO2 this year, plant 1,000 trees per month, and protect forested area by an estimated 500 m² this year.

The Sustain Shave Club™ has officially launched and we are now shipping our new biodegradable disposable razors.

You can subscribe or buy one-time orders on our website https://SustainShaveClub.com.

Sustain Shave Club™ Media Contact:
SustainShaveClub.com
Dan Iannicelli
Aeralas LLC.
dan@aeralas.com
203-525-9646

Media Contact

Daniel A Iannicelli, Aeralas LLC, +1 2035259646, dan@aeralas.com

SOURCE Sustain Shave Club

Georgia General Assembly Proclaims March 4, 2021 «Be The Match Day» To Help Add More Donors on the to Be The Match Registry

ATLANTA, March 3, 2021 /PRNewswire/ — For patients battling deadly blood cancers like leukemia or lymphoma or life-threatening blood diseases like sickle cell disease or aplastic anemia, there is a cure. A blood stem cell transplant from a matching living donor can offer hope for patients battling these and 70 other deadly blood diseases. Yet, only 30 percent of patients will find a matching donor in their family. The remaining 70 percent turn to the Be The Match Registry and its database of 22…

Despite the large number of individuals on the registry, more than 10,000 patients each year will not find a matching donor. That’s the case for a 27-year-old mother from Macon, Georgia. Briana Stephens continues her decade-long search for a matching donor to help her beat aplastic anemia, a dangerous blood disorder.

Briana was diagnosed with aplastic anemia at age 10 and experiences extreme fatigue; receives frequent blood transfusions and platelet checks; attends weekly doctor’s visits; and receives weekly plasma donations. A blood stem cell transplant from a matching donor is the only cure for Briana’s condition. But after more than a decade of searching, she still has not found a match. She is among 400 other Georgians who are hoping Be The Match will find them a matching blood stem cell donor to cure them.

For patients like Briana, Be The Match has partnered with the Georgia General Assembly to designate Thursday, March 4, 2021, «Be The Match Day» to help raise awareness of the need for more donors on the Be The Match Registry. The campaign seeks to add 430 new donors to the Be The Match Registry – enough to save one life! That’s because approximately 1 in 430 members on the registry will go on to be a life-saving donor for a patient in need.

«So many people do not realize that their blood stem cells could hold the cure for a patient battling leukemia, sickle cell disease or many other deadly blood disorders,» said State Representative Gloria Frazier, who sponsored the Be The Match Day resolution. «There is no easier way to save a life – and it is so simple, just requiring a simple cheek swab to be added to the Be The Match Registry. You’re only called to donate if you are identified as a match for a patient. We are specifically asking diverse communities to join the registry, because ancestry matters in finding a match, and too many patients of color do not find matching donors to save their lives.»

A blood stem cell or bone marrow transplant can cure more than 70 different blood cancers or deadly blood disorders, including leukemia, lymphoma and sickle cell disease. Unfortunately, not all patients have the same likelihood of finding a matching donor. Black patients like Briana are least likely to find a match compared to patients of other races and ethnicities. Black or African American patients only have a 23 percent chance of finding a perfectly matched donor on the registry compared to a 46 percent chance for Hispanic patients and a 77 percent chance for white patients. Of the more than 22 million potential donors, only 4 percent are Black or African American and 7 percent are Hispanic.

«Race and ethnicity play an important factor in finding a matching donor because the DNA markers that we look to match are inherited, and you’re more likely to match someone who has a similar ancestry,» explained Erica Jensen, Senior Vice President of Member Enrollment, Engagement and Experience for Be The Match. «Be The Match is dedicated to providing all patients an equal chance at finding a match regardless of racial or ethnic background. We are grateful to the Georgia Assembly for supporting our efforts to increase the number of donors on the registry, which will help us save more patient lives in the future.»

«This past year, we have recognized the importance of health in our communities, and the impact that racial disparities have on outcomes for patients,» said State Senator Tonya Anderson, who is also the Georgia Legislative Black Caucus Chairwoman and sponsor of the resolution. «When it comes to the Be The Match Registry, each one of us can play an active role in being a part of the solution. With every person who swabs their cheek, we help the hundreds of Georgians searching for a donor, get one step closer to finding their cure.»

In 1987, the United State Congress authorized the establishment of a national registry of volunteer bone marrow donors, the National Marrow Donor Program, currently named Be The Match, which has facilitated more than 100,000 transplants to date, including 6,660 last year, of which 118 patients were from Georgia.

For 80 percent of donors, the process of donating blood stem cells is non-surgical and resembles a plasma donation; the remaining 20 percent have liquid marrow withdrawn while under anesthesia in an outpatient procedure. Unfortunately, the process of donating blood stem cells or bone marrow has been wrongly depicted in Hollywood movies, leading to fear of pain for would-be donors.

To learn more about the myths and facts of blood stem cell donation or to join the Be The Match Registry visit http://www.BeTheMatchATL.org or text GeorgiaSaves to 61474. There is no cost for donors between the ages of 18-44 years old to join the Be The Match Registry. A cheek swab kit will be mailed to the registrant’s home to complete the registration process and find out if they are a match for a searching patient.

About Be The Match^®For people with life-threatening blood cancers—like leukemia and lymphoma—or other diseases, a cure exists. Be The Match connects patients with their donor match for a life-saving marrow or umbilical cord blood transplant. People can contribute to the cure as a member of the Be The Match Registry^®, financial contributor or volunteer. Be The Match provides patients and their families one-on-one support, education, and guidance before, during and after transplant.

Be The Match is operated by the National Marrow Donor Program^® (NMDP), a nonprofit organization that matches patients with donors, educates health care professionals and conducts research through its research program, CIBMTR^® (Center for International Blood and Marrow Transplant Research^®), so more lives can be saved. To learn more about the cure, visit BeTheMatch.org or call 1 (800) MARROW-2.

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SOURCE Be The Match

Voltus Releases CashDash 2.0, the First Distributed Energy Resources Monetization Platform Interconnected to Every Wholesale Energy Market

SAN FRANCISCO, March 3, 2021 /PRNewswire/ — Voltus, Inc., the leading platform for Distributed Energy Resources (DERs), announced today the release of CashDash 2.0, the financial transaction engine of its DER operating system, VoltApp. With the release of CashDash 2.0, VoltApp becomes the only auditable DER platform in the world, allowing Voltus and its partners to monetize every type of behind-the-meter DER with an automated «meter to market to money» customer experience. According to Voltus CEO Gregg Dixon, «VoltApp is the transaction platform that unlocks the full value of DERs, from smart thermostats and electric vehicles to battery storage and distributed generation. VoltApp provides a direct connection between these DERs and every wholesale electricity market in North America.»

CashDash 2.0 gives customers the ability to forecast, audit, and report on the value of their DERs across all energy markets. Supported by 30-second telemetry data, VoltApp automatically connects to and settles financial performance with the market, while providing full digital payment processing and line item automation. All of Voltus’s customers and partners gain immediate access to CashDash 2.0.

«This solves many of the problems that have held back our investment in DERs,» said Jim Mullin, Director of Energy Procurement at JBS. «Our team now sees, in real-time, the value of managing JBS’s energy every hour of the year. This allows us to budget and forecast the value of JBS’s operational flexibility. It’s what we’ve been asking for for years.»

The power of VoltApp extends beyond Voltus’s direct customers. This transaction platform is used by third parties who want to access the very same markets that Voltus serves. «Rather than building out their own resources market by market, DER type by DER type, we’ve built for our partners a set of common services for any DER to interact with all markets,» says Neil Lakin, Voltus’s Chief Technology Officer.

The need to easily monetize and unleash DER capability has never been more apparent. February’s ice storms across Texas triggered rolling blackouts throughout ERCOT, MISO, and SPP, as generation capacity failed to keep up with demand. Also, the Federal Energy Regulatory Commission’s landmark Order 2222 calls for the unified treatment of DERs in all wholesale markets nationwide, opening up new markets and states to DERs. «The market for our product is exponentially larger than even we believed when we started Voltus. We’re now serving classes of customers and we’re in markets that we never contemplated in our original business plan,» explains Lakin.

As DERs, powered by VoltApp, take a more and more prominent role in power markets, the grid moves closer toward the clean energy transition. Says Dixon, «When DERs are given unbridled access to wholesale markets, we will see a massive shift from central power stations to energy on the edge and an energy internet of things that becomes the new paradigm of power. The benefits of this paradigm are undeniable. Just like our current paradigm of computing is superior to the mainframes and «dumb terminals» of the 1970s, DERs are simply a superior model for a reliable and resilient electric grid.»

About Voltus, Inc.
Voltus aims to be the Distributed Energy Platform that fulfills the promise of the energy transition. Voltus represents the «potential of us» to better manage energy through simple, cost and risk-free programs for Distributed Energy Resources. Our commercial and industrial customers generate cash by allowing us to maximize the value of their operational flexibility in energy markets. What’s more, there are significant community benefits that accompany working with Voltus – a cleaner, more reliable energy future and dollars invested back into your business. To learn more, visit www.voltus.co.

Voltus Media Relations
Kelly Yazdani
Director of Marketing
703-340-9353
kyazdani@voltus.co

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Voltus, Inc.
Less Energy, More Cash

Related Links
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SOURCE Voltus, Inc.

Atradius publishes whitepaper and video following success of webcast on the future of global trade

‘How Covid-19 changed global trade forever’ attracts almost 3,000 live viewers

AMSTERDAM, March 3, 2021 /PRNewswire/ — Following the success of the first event in the series ‘From crisis to opportunity: what is the future of trade?’ the global provider of credit insurance, bonding and surety, collections and information services, Atradius, has published a white paper and video of the event. Titled, ‘How Covid-19 changed global trade forever’ both the paper and summary video can be accessed via the Atradius website. The video is additionally available on the Atradius YouTube channel. An audience of almost 3,000 people including brokers, agents, customers, Atradius staff and others watched the interactive event live.

Christine Gerryn, Director Group Communications & Commercial Development said: «Our goal is to create a series of virtual events of high quality, that provide clear answers and talking points to the most pressing questions facing businesses around the world today. We are delighted on the number of attendees who joined our first event. We have developed a white paper and a summary video to share to all, to people who attended the event and the ones who were unable to make the event live but are interested in the topic».

She added: «The second event in this series, How trade relationships and tariffs affect trade worldwide, will be broadcast live on March 25 at 4pm CET.»

You can learn more about the next event in the series here: https://group.atradius.com/virtual-event-series/from-crisis-to-opportunity-event2.html

About Atradius
Atradius is a global provider of credit insurance, bonding and surety, collections and information services, with a strategic presence in over 50 countries. The products offered by Atradius protect companies around the world against the default risks associated with selling goods and services on credit. Atradius is a member of Grupo Catalana Occidente (GCO.MC), one of the largest insurers in Spain and one of the largest credit insurers in the world. You can find more information online at https://group.atradius.com

For further information:

Head Office
Christine Gerryn
Director of Group Communication & Commercial Development
Phone: +31-20-553-2047
E-mail: christine.gerryn@atradius.com
https://group.atradius.com

Connect with Atradius on Social Media

Twitter
https://twitter.com/atradius
LinkedIn
https://linkedin.com/company/atradius
YouTube
https://www.youtube.com/user/atradiusgroup

Logo – https://mma.prnewswire.com/media/712156/Atradius_Logo.jpg

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SOURCE Atradius N.V.

Azuri Ranked 325th Fastest Growing Company in Europe

CAMBRIDGE, England, March 3, 2021 /PRNewswire/ — Azuri Technologies, a pioneer in pay-as-you-go solar home solutions for off-grid Africa, has been ranked the 325^th fastest growing company in Europe by the Financial Times in their annually compiled FT1000 list.

<img id="prnejpgd084left" title="Azuri Technologies logo" border="0" alt="Azuri Technologies logo" align="middle" imagelabel="General"…

The ranking is based upon annual growth rate in revenue and those that make the list are considered to be at the forefront of business and innovation. Azuri ranked 325 on the list (up from 370^th in the 2020 list), having achieved a 503% revenue growth over four years. This is the third year the company has been listed in the FT1000.

Azuri is again the only off-grid solar company to make the list and the company’s growth can be attributed to the consistent need for affordable, off-grid energy solutions in sub-Saharan Africa. This is a region where 600 million people lack access to reliable energy services and modern devices.

Simon Bransfield-Garth, CEO of Azuri Technologies commented «We are honoured once again to have been recognised by the Financial Times in the list of the 1000 fastest growing companies in Europe. In the current global climate, Azuri’s growth is testament to the critical ongoing need for energy in sub Saharan Africa»

Azuri has been operating in sub-Saharan Africa since 2012 and has sold more than 200,000 systems to date.

Azuri has coupled off-grid solar with energy-efficient smart TVs, rechargeable radios, satellite entertainment, internet access and a range of other appliances and services to bring modern digital technology to off-grid households.

In addition to research and development facilities in Cambridge, Azuri has operations in Kenya, Tanzania, Uganda, Zambia and Nigeria.

Azuri was also ranked 40th in the 2020 Sunday Times Sage Tech Track 100 league table which ranks Britain’s fastest growing privately held companies by sales growth (% per annum) over the last 3 years.

For the complete FT1000 list visit: https://www.ft.com/reports/europes-fastest-growing-companies

Media contact: Miriam Hackett | Azuri Technologies Ltd. | Miriam.hackett@azuri-technologies.com | 01223 228260

For more information, please visit: www.azuri-technologies.com

About Azuri Technologies Ltd.

Azuri Technologies is a leading provider of affordable pay-as-you-go solar home systems to off-grid consumers across Africa. Combining the latest solar innovation and mobile payment technology, Azuri delivers reliable, renewable and distributed power to the millions who have no access to modern powered services. Azuri operates in five key territories; Kenya, Nigeria, Zambia, Tanzania and Uganda with East Africa Headquarters in Nairobi, Kenya and West Africa Headquarters in Lagos, Nigeria.

For more information, please visit: www.azuri-technologies.com

Logo – https://mma.prnewswire.com/media/1326423/Azuri_Technologies_Logo.jpg

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SOURCE Azuri Technologies

Viewpoint With Dennis Quaid Talks Sustainable Green Agriculture Strategies

MIAMI, March 3, 2021 /PRNewswire-PRWeb/ — Viewpoint, an informational television program hosted by veteran American actor Dennis Quaid, is gearing up for a segment featuring sustainable green strategies in the agriculture industry. Top-of-the-line innovators and methods will be showcased in the segment to shed light on the importance of making the agriculture industry green.

Increased awareness about the environmental harm caused by typical agriculture practices…

Increased awareness about the environmental harm caused by typical agriculture practices has caused eco-friendly farming to become a top priority more than ever before. Legitimate and sustainable agriculture practices can offset the destruction of habitats, forest clearings, and the damage done by conventional pesticides.

Farmer and agriculturists are finding ways to reduce the impact cultivating land and produce have on the environment. A popular way farmers are changing the course of agriculture is by implementing renewable energy sources. Switching to green methods can significantly reduce the carbon footprint created by conventional farming. Renewable energy sources, such as solar power, hydropower, or wind, can be used as alternative energy methods. Solar power is useful for fueling pumping and heating systems, and hydropower, which is sourced from river water, can run various farming machinery.

Viewpoint is proud to highlight these sustainable agricultural methods in the upcoming segment. The program will feature the combined efforts of the show’s development team and content providers. Making green changes can help ensure a healthy environment for generations to come. Dennis Quaid will host the TV program.

Viewpoint with Dennis Quaid is created explicitly for television stations in the U.S. to educate audiences on various topics. The show is the recipient of numerous Telly awards. A crew of seasoned producers, developers, editors, and writers ties together the show.

Media Contact

Development Division, Viewpoint with host Dennis Quaid, 561-244-7620, info@viewpointproject.com

SOURCE Viewpoint with host Dennis Quaid

Volocopter Raises €200 Million in Series D Funding Round

– €200 million (USD 240 million) raised in an oversubscribed Series D funding

– New investors include funds managed by BlackRock, Avala Capital, Atlantia S.p.A., Continental AG, NTT, and Tokyo Century amongst others, with all existing investors also joining the round

– Funding will be used to solidify Volocopter’s market leadership

BRUCHSAL, Germany, March 3, 2021 /PRNewswire/ — Volocopter, the pioneer of urban air mobility (UAM), announced…

– €200 million (USD 240 million) raised in an oversubscribed Series D funding

– New investors include funds managed by BlackRock, Avala Capital, Atlantia S.p.A., Continental AG, NTT, and Tokyo Century amongst others, with all existing investors also joining the round

– Funding will be used to solidify Volocopter’s market leadership

BRUCHSAL, Germany, March 3, 2021 /PRNewswire/ — Volocopter, the pioneer of urban air mobility (UAM), announced the signing of their Series D funding round today, raising €200 million in additional capital. Cumulatively, Volocopter has raised €322 million. The funding will be used to solidify Volocopter’s leading position in the UAM market by bringing the VoloCity, the battery-powered air taxi for cities, to certification and by accelerating the launch of its first commercial routes.

Volocopter is in the final stages of providing new, sustainable mobility options for cities around the world. Their future services range from electric autonomous air taxis flying passengers directly and safely to their destinations to transporting goods with the company’s VoloDrone.

Having ten years of development experience, Volocopter is a leader in the urban air mobility space. As the first and only electric vertical take-off and landing (eVTOL) company to receive Design Organisation Approval (DOA) by the European Union Aviation Safety Agency (EASA), Volocopter expects its first commercial air taxi routes to be opened within the next two years.

«Volocopter is ahead of the curve in the UAM industry, and we have the achievements to prove it,» says Florian Reuter, CEO of Volocopter. «No other electric air taxi company has publicly performed as many flights in cities around the world, with full regulatory approval, as Volocopter has. Our VoloCity is the fifth generation of Volocopter aircraft and has a strong path to being the first certified electric air taxi for cities. Volocopter already has the extensive partnerships necessary to set up the UAM ecosystem for launching both our company and the industry into commercial operations. We are called the pioneers of UAM for a reason, and we plan to keep that title.»

Volocopter offers a holistic approach to the UAM market by developing a full ecosystem to connect all the vital parts to get the industry off the ground. This includes multipurpose aircraft (VoloCity and VoloDrone), physical and digital infrastructure (VoloPort and VoloIQ), as well as partnerships with global leaders in their respective fields.

«We are thrilled to welcome investors who share our belief that innovative technology like our Volocopter is one of the key enablers for a sustainable future,» says Rene Griemens, CFO of Volocopter. «Our shareholder structure remains well balanced with a healthy mix of strategic and financial partners spread as globally as our business ambitions.»

New investors in Volocopter include funds managed by BlackRock, global infrastructure company Atlantia S.p.A., Avala Capital, mobility technology giant Continental AG, global technology focused investment fund Jericho Capital, global technology and business solutions provider NTT via its venture capital arm, Tokyo Century, a leading Japanese leasing company, leading family offices, and others. All existing investors, including Geely, Daimler, DB Schenker, Intel Capital, btov Partners, Team Europe, and Klocke Holding amongst others also joined the round.

Volocopter has performed several milestone flights in Helsinki, Stuttgart, Dubai, and over Singapore’s Marina Bay in recent years. While the first routes are yet to be announced, the company has committed to establishing air taxi services in Singapore and Paris with plans to expand many more routes in the US, Asia, and Europe.

About Volocopter

Volocopter is building the world’s first sustainable and scalable urban air mobility business to bring affordable air taxi services to megacities worldwide. With the VoloCity, the company is developing the first fully electric «eVTOL» aircraft in certification to transport passengers safely and quietly within cities. Volocopter leads and cooperates with partners in infrastructure, operations, and air traffic management to build the ecosystem necessary to ‘Bring Urban Air Mobility to Life’.: www.volocopter.com

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SOURCE Volocopter GmbH

Autor venredPublicado el 3 marzo, 2021Categorías Geovanny Vicente

No World Borders Publishes Affordable Care Act Risk Corridor Analysis

NEWPORT BEACH, Calif., March 3, 2021 /PRNewswire/ — No World Borders, Inc. announced that its CEO, Michael F. Arrigo published an analysis of risk corridors under the Affordable Care Act.

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NEWPORT BEACH, Calif., March 3, 2021 /PRNewswire/ — No World Borders, Inc. announced that its CEO, Michael F. Arrigo published an analysis of risk corridors under the Affordable Care Act.

Michael F. Arrigo, C.E.O. of No World Borders, said, «With the House approval of the American Rescue Plan Act, it has approved broader subsidies. These subsidies are intended to insure more of the currently uninsured and encourage more states to expand Medicaid. The increase in the number of insureds increases the risk pool. The ARPA should encourage us to look back at the lessons learned when the Affordable Care Act started. When Health Insurance Exchanges were launched, insurers did not have the actuarial experience to estimate newly set premiums, risk rates and utilization. Risk corridors were intended to limit both the amount of money that a health insurance plan can make — and how much it can lose — during the first three years. In part, the intent was to encourage insurers to enter the HIE markets by mitigating their risk, «…to protect against the effects of adverse selection…» Once risk corridors were developed Congress refused to fund the program. This ultimately led to the lawsuit before the Supreme Court: Maine Community Health Options v. the United States.»

The new retrospective analysis evaluates whether risk corridors benefit the insureds that the Affordable Care Act is designed to cover. Topics include:

Risk Corridor Litigation Timeline

History of Risk Corridors in the Affordable Care Act

How Risk Corridor Calculations Work

Risk Corridor Controversy

Expected Benefits to the Consumer via Market Competition

Using Medicare Part D as a Basis

Actuarial Analysis of Costs and Benefits to Consumers and the Government in Plans with Risk Corridors

Affordable Care Act Medical Loss Ratio (MLR) Standard

Expenditures to Control or Contain Costs Such as Fraud are Excluded from MLR

About Michael F Arrigo

Michael F. Arrigo is the CEO of No World Borders, a healthcare data regulations and economics firm. He serves as an expert witness regarding the Affordable Care Act. In his work he also advises clients regarding risk adjustment in Medicare Advantage plans, Medicare Part D, and Accountable Care Organizations under the Affordable Care Act.

About No World Borders

No World Borders was founded in 2000. The company has a group of experts and technology focused on solving complex healthcare data, regulations, and economics and has offices throughout the U.S. The company news coverage and examples of client success stories are listed on its website.

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SOURCE No World Borders

Autor venredPublicado el 3 marzo, 2021Categorías Geovanny Vicente

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