Pacific Green targets 12GWh battery energy storage capacity across four global markets

  • Company doubles down on BESS as a priority focus in 2024, having expanded its global pipeline to 6GWh in 2023.
  • Australia and Italy are hotspots for significant expansion of origination portfolio, alongside entry into Polish market.
  • Further expansion of UK portfolio, as pioneering Richborough project enters first full year of operation and construction is underway at huge Sheaf project.

DOVER, DE, Feb. 06, 2024 (GLOBE NEWSWIRE) —  Global energy storage and environmental technology company, Pacific Green Technologies, Inc. (“Pacific Green”, OTCQB: PGTK) is targeting more than 12GWh of battery energy storage capacity across four global markets.

Having achieved rapid pipeline growth to 6GWh in 2023 – taking scale positions in the emerging Italian and Australian energy storage markets, as well as moving its first project into operation at Richborough, UK – the company is doubling down on utility-scale battery energy storage systems (BESS) as a priority focus for 2024 and beyond.

Australia and Italy remain hotspots for significant further pipeline expansion, with the company also seeking to recharge its origination portfolio in the maturing UK market, as well as taking its first steps into the nascent Polish market.

Pacific Green is targeting a minimum of 1GWh capacity in each market it enters. Its targets for 2024 include:

UK – operation / development / origination

Recent strategic milestones have included commissioning the 99.8MWh Richborough Energy Park, achieving financial close at neighbouring 373.5MWh Sheaf Energy Park – one of the first and largest non-recourse debt financed BESS sites in the world, and transferring ownership of both projects to energy transition fund Sosteneo.

2024 priorities include progressing construction of Sheaf Energy Park ahead of its July 2025 commissioning date and further expanding the UK origination portfolio.

Australia – development / origination

Having last year secured land exclusivity agreements for two major BESS projects in Southern Australia with 3GWh of storage capacity, Pacific Green aims to more than double its greenfield origination pipeline to 6GWh+.

Pacific Green’s Australian team is targeting financial close on its first 500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.

Italy – development / origination

Having acquired a majority shareholding in five battery energy parks in Italy from originator Sphera Energy in 2023, totalling 2.8GWh capacity, Pacific Green’s team in Italy is targeting financial close on its first 1,500MWh of storage capacity this year, ahead of the start of commercial operations in 2026.

The team also aims to further expand its origination portfolio to almost 5GWh in total.

Poland – origination

Pacific Green intends to enter the nascent Polish market in 2024, targeting an initial origination pipeline of approximately 400MWh storage capacity.

Scott Poulter, Pacific Green’s Chief Executive, said:

“We’re focused on rolling out next-generation battery energy parks at scale and at speed – drawing on a unique combination of technology, project development and project finance expertise, alongside relationships cultivated with trusted partners throughout the BESS supply chain.

“Our work in 2023 demonstrated the speed and efficiency with which our team can bring forward vital new BESS assets and deliver significant value to our shareholders – and we intend to continue building the pace in 2024 and beyond.

“The role of battery storage in advancing the energy transition is no longer debatable – but to achieve the momentous growth that’s needed in operational capacity, the market needs to double down on its efforts to originate workable projects and commercialise and deploy the technology efficiently.  We’re laser focused on building the pipeline, the team and the international relationships needed to make a real difference in this sector.”

About Pacific Green Technologies, Inc.:

Pacific Green is a global energy storage and environmental technology company, on a mission to advance the transition to sustainable energy solutions.

The business is focused on rapidly building a global portfolio of utility-scale battery energy storage systems (BESS), with a current total of 6GWh of energy storage capacity in development, construction or operation.

Pacific Green’s team brings together extensive technology, project development and project finance expertise – having commercialised numerous pioneering technologies, and steered major international energy and infrastructure projects successfully through financing and development.

This in-house expertise is complemented by strategic relationships cultivated with trusted partners at all levels of the global environmental supply chain – providing access to the very best technology and manufacturing capabilities on offer, alongside internationally respected financial institutions and project partners.

For more information, visit: www.pacificgreen.com

Notice Regarding Forward-Looking Statements:

This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the continued development of the Project, any potential business developments and future interest in Pacific Green’s battery, solar and environmental technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the continuation of the development of the Project, general economic and political conditions. These forward-looking statements are made as of the date of this news release, and Pacific Green assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although Pacific Green believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in Pacific Green’s annual report on Form 10-K for the most recent fiscal year, Pacific Green’s quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

For media enquiries, please contact: pacificgreen@tamarindo.global

Scott Poulter, Chairman & CEO
Pacific Green Technologies, Inc.
T: +1 (302) 601-4659

GlobeNewswire Distribution ID 9032212

Asian University for Women offers 250 scholarships to women from Gaza

CHITTAGONG, BANGLADESH – Media OutReach Newswire – 6 February 2024 – Asian University for Women in Chittagong, Bangladesh has offered 250 scholarships for highly qualified female students from war-torn Gaza to join its undergraduate or graduate programs.  The AUW scholarships will cover all costs of international travel, room, board, tuition, health care and a monthly stipend.  It may be sadly noted that at least one AUW graduate who had returned to her home in Gaza remains untraceable to date.

His Excellency Ambassador Riad Mansour of Palestine handing over a gift of a precious book on Palestine to AUW Founder Mr. Kamal Ahmad.

The 250 students have already been chosen based on their past academic performance and other records of accomplishments.  AUW’s Founder & CEO Mr. Kamal Ahmad conveyed this commitment when he called on His Excellency Dr. Riad Mansour, Ambassador of the State of Palestine to the United Nations at the latter’s offices in New York on February 1st. Ambassador Mansour, who himself was an educator earlier in his career, deeply appreciated the gesture from AUW and assured AUW of his support in enabling a rapid transfer of the students from Gaza to AUW’s campus in Chittagong.

It may be noted that AUW was established by the Parliament of Bangladesh in 2008 to specifically support the education of women from conflict areas, among others.  Nearly 550 Afghan students currently attend AUW; there are at least another 300 students attending AUW from other conflict areas including Myanmar, Syria and Yemen.  In a recent convocation address Professor Richard Saller, President of Stanford University, referred to his own personal experience teaching a group of students from AUW at Stanford one summer “as the most rewarding teaching experience of my career” and went on to say “These students came from modest families in various countries across South Asia. One of the principal goals of AUW was to instill confidence and a powerful sense of agency in these students, who came from societies that limited opportunities for women — sometimes severely”.

The Hon’ble Prime Minister Sheikh Hasina serves as the Chief Patron of AUW while the Hon’ble Minister of Social Welfare Dr. Dipu Moni serves as the Chairman of the Board.  The eminent educator and entrepreneur Dr. Rubana Huq serves as the Vice Chancellor.

A one million square feet custom-designed campus is being developed on a 140-acre plot in Chittagong guided by the renowned architects Moshe Safdie and Renzo Piano.  When fully built, AUW will be able to serve 11,000 talented students from across the region irrespective of their economic, social, religious or national or ethnic background.  In addition, an AUW Lab School led by the Founding Principal Dr. Dale Taylor will be launched in August this year that will cater to younger students with most potential for academic and leadership success.

About Asian University for Women (AUW):

Founded in 2008 and located in Chittagong, Bangladesh, AUW is the first of its kind: a regional institution dedicated to women’s education and leadership development through liberal arts and sciences education.  It is international in outlook but rooted in the contexts and aspirations of the people of Asia. Chartered by the Parliament of Bangladesh, AUW exists solely to support a rising network of women leaders, entrepreneurs, and changemakers from across the region. It seeks out women who show significant academic achievement and potential, demonstrate courage and a sense of outrage at injustice, and are empathic to the woes of other people.

1,600 students from 15 countries currently attend AUW: Afghanistan, Bangladesh, Bhutan, Cambodia, China, India, Indonesia, Lao PDR, Myanmar, Nepal, Pakistan, Sri Lanka, Syria, Timor Leste, Vietnam, and Yemen. More than 85% of AUW students are on full or near-full scholarships funded by supporters from around the world. The University has graduated over a thousand students to date. A majority of AUW graduates secure employment in the private and public sectors in their home countries while about 25% go on to pursue graduate studies at other institutions of higher learning including Oxford, Cambridge, Johns Hopkins, Stanford, Columbia, Duke, Brandeis and Tufts, among others. To learn more about Asian University for Women, please visit https://asian-university.org.

Mundo Verde Climate Leads Groundbreaking Transaction in the Global Voluntary Carbon Market

Deal reaffirms Mundo Verde Climate’s role as a leading global provider of carbon credits and helps to stimulate the voluntary market, which is set for a resurgence following COP28.

Geneva, Feb. 05, 2024 (GLOBE NEWSWIRE) — Mundo Verde Climate, a global player in climate finance and climate change risk management advisory, announced its pivotal role in one of the most significant transactions of 2023 within the global voluntary carbon market. The company, dedicated to forging a sustainable future for generations, continues to champion green technologies and nature-based solutions in the race to Net Zero.

In a significant stride towards achieving this goal, Mundo Verde Climate has entered into a strategic arrangement with Biotrend Enerji, the most prominent player in the Turkish integrated waste management, waste-to-energy and circular plastics market. This collaboration marks a milestone in the pursuit of mobilizing finance towards new climate change mitigation technologies.

Mundo Verde Climate took an instrumental role in developing the voluntary carbon units from Biotrend’s waste to energy activities through a certification and verification process under VERRA.  The transaction, covering over 2.4 million tons of CO2 in total, refers to voluntary carbon credits for release on the international market. Companies can acquire the credits to offset their emissions from unrelated activities.

The deal promises to impact the global voluntary carbon market substantially. Mundo Verde Climate, together with Biotrend, hopes that the initiative will provide much-needed carbon credits to satisfy demand in the voluntary offsetting market and inspire others to advance their projects and stimulate the market.

Reflecting on the efforts of governments at COP 28 to invigorate the global trade in voluntary carbon credits, Ms Gediz Kaya, Managing Partner at Mundo Verde Climate, expressed enthusiasm about the Biotrend arrangement, stating:

“According to Climate Policy Initiative, the amount of financing needed to be mobilized towards climate mitigation technologies by 2030 is $4.3 trillion annually and 21% of that finance is mobilized right now. So we need to take action and we need to decarbonize as fast as possible. This collaboration exemplifies our dedication to fostering international cooperation and collaboration of key industries in pricing carbon so that we can mobilize finance in the fight against climate change. By joining forces with Biotrend, we aim to catalyse transformative change and encourage companies in the energy sector, and other industries, to adopt a sustainable approach to managing their emissions.”

The COP28 summit in the United Arab Emirates discussed a number of important factors related to standards and integrity around carbon crediting and recognized the important role of voluntary carbon markets in addressing climate change. Mundo Verde Climate underscores the urgency of global collaboration to address climate challenges and calls for renewed efforts, partnerships, and commitments to mobilize finance. This is vital for accelerating the transition to a low-carbon economy.

Biotrend made a related public disclosure about certified carbon crediting on 8 November 2023, in its 9-month financial statement.

Attachments

Mundo Verde Climate
media@mv-climate.com

GlobeNewswire Distribution ID 9032182

Leaders in Luxury: Automobili Pininfarina Recognised With Three International Awards

B95

B95 by Automobili Pininfarina

  • Automobili Pininfarina begins 2024 with multiple award wins for its design
  • PURA Vision awarded Silver in Conceptual Products / Automotive & Transport Product Design category at The International Design Awards
  • Automobili Pininfarina named ‘Luxury Electric Performance Car Manufacturer of the Year 2024’ by LUXlife Magazine
  • Battista Edizione Nino Farina crowned Best Electric Hypercar at Robb Report Monaco & Côte d’Azur Car of the Year 2024
  • Full suite of assets to support the news can be found here

CAMBIANO, Italy, Feb. 06, 2024 (GLOBE NEWSWIRE) — Automobili Pininfarina has kicked off 2024 with three award wins, as it continues to build on the success of a record-breaking previous year.

LUXlife Magazine named Automobili Pininfarina ‘Luxury Electric Performance Car Manufacturer of the Year 2024’ at its annual awards.

Celebrating the unparalleled achievements and exceptional creativity in the realm of luxury, LUXlife awards honour the leaders and pioneers who redefine excellence within the industry, setting higher standards of sophistication and elegance. Automobili Pininfarina was a winner within the ‘Leaders in Luxury’ category.

This was followed by another win for the PURA Vision design concept, which was awarded Silver in Conceptual Products / Automotive & Transport Product Design at the 2024 International Design Awards.

Battista Edizione Nino Farina

Battista Edizione Nino Farina by Automobili Pininfarina

PURA Vision represents the beginning of what promises to be a groundbreaking era for electric luxury vehicles and was penned by Chief Design Officer, Dave Amantea. It was unveiled at 2023 Monterey Car Week.

Dave Amantea, Chief Design Officer, commented: “Our PURA design philosophy is all about simplicity and timeless beauty, which is designed into every Automobili Pininfarina model. The elegant silhouette and dramatic proportions express this language on PURA Vision, envisioned here as a first-of-its-kind electric Luxury Utility Vehicle (e-LUV).”

The principles of the PURA philosophy, established by Automobili Pininfarina, transform the DNA of iconic models from Pininfarina SpA’s past to define the future, balancing inspiration from iconic classic cars with futuristic elements.

Inspired by classic proportions and exquisite detailing, PURA Vision presents an elegant silhouette with bold cab-rear proportions that combine timeless beauty with exquisite detailing to create a dynamic identity with unmistakable presence. Show-stopping features include its narrow glasshouse and tri-opening pillarless doors, which provide supreme access to its sophisticated cabin.

PURA Vision design concept

PURA Vision by Automobili Pininfarina

Most recently, the Automobili Pininfarina Battista Edizione Nino Farina was named Best Electric Hypercar at Robb Report Monaco & Côte d’Azur Car of the Year 2024. Introduced at the 2023 Goodwood Festival of Speed, it is a tribute to racing legend Nino Farina – nephew of company founder Battista ‘Pinin’ Farina and the first Formula One World Champion.

Each of the five unique examples features an exquisite detail that references a different milestone in Nino’s racing career. Finished in a bespoke Rosso Nino paint complemented by a special livery on the lower body, finished in Bianco Sestriere and Iconica Blu, the exterior design is completed by the Satin Gold 10-spoke forged aluminium Glorioso alloy wheels.

Press Contacts

Duncan Forrester
Chief Communications Officer
(M) +49 (0) 171 265 4094
d.forrester@automobili-pininfarina.com
Akira Shinonuma
Communications Manager
(M) +49 (0) 1511 0949270
a.shinonuma@automobili-pininfarina.com

FOR MORE INFORMATION, VISIT
https://automobili-pininfarina.com/media-hub

EDITOR’S NOTES

ABOUT AUTOMOBILI PININFARINA
Automobili Pininfarina is based in operational headquarters in Munich, Germany, with a team of experienced automotive executives from luxury and premium car brands. Designed, engineered and produced by hand in Italy, the Battista hyper GT and all future models will be sold in all major global markets under the brand name Pininfarina. The company aims to design experiences for the world’s foremost taste makers. Automobili Pininfarina GmbH is a 100 per cent Mahindra & Mahindra Ltd investment following the signing of a trademark licence agreement between Pininfarina S.p.A. and Mahindra & Mahindra Ltd. Pininfarina S.p.A. has an influential role in supporting design and production capacities based on its unique 94-year experience of producing many of the world’s most iconic cars.

Photos accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/666e6473-ad48-44a4-b8b4-63370c5905ba
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e3f2da6-e216-479c-97fd-4f672a1d3e87
https://www.globenewswire.com/NewsRoom/AttachmentNg/5528a50f-f9b1-44f9-8a6f-86535076509

GlobeNewswire Distribution ID 1000912151

No security threats since swearing in of President Mbumba: Shikongo

WINDHOEK: The Inspector General (IG) of the Namibian Police Force, Lieutenant General Joseph Shikongo has said there have not been any security threats since the swearing in of former Vice President Nangolo Mbumba as President of Namibia. Mbumba was sworn in as the fourth President of Namibia, following the death of President Hage Geingob early on Sunday. International Relations Minister Netumbo Nandi-Ndaitwah was sworn in as Vice President. Shikongo in an interview with Nampa on Monday said Namibia is not at risk of security threats as the country is known for its democratic system. 'I don't think any Namibian is thinking of a change of government by unconstitutional means. As inspector general I am in constant communication with my colleagues, the Chief of Defence, the Commissioner General of the Namibian Correctional Service, and the Director of the Namibia Central Intelligence Service. As of now, there's no need for panic,' he said. Other countries, he said, are commending Namibia for not allowing a l eadership vacuum, saying that in some countries people would be fighting, resulting in impairment in the security sector. 'The beefing up of security is automatic as the current president is entitled to security, as well as the vice president. Our visiting dignitaries have nothing to worry about, we are ready to serve them and we are monitoring every situation,' he said. Shikongo went on to reveal that he was also appointed to serve on the preparatory committee for the funeral arrangements, chaired by Prime Minister Saara Kuugongelwa-Amadhila, and gave his assurance that the police are prepared to receive and protect international dignitaries travelling to Namibia for the funeral of the late Geingob. A directive to senior executives in the police force, including regional commanders to not apply for leave until after Geingob's funeral, has also been issued. 'Those are the only activities put on hold, otherwise our operations are still going on. Members who are transporting food for inmates to different to wns are still travelling, regional operations are not suspended,' he noted. Source: The Namibia Press Agency

Namibians have a responsibility to build Namibia in unity: Nandi-Ndaitwah

WINDHOEK: Vice President Netumbo Nandi-Ndaitwah has said Namibians have a responsibility to build the country in unity and through transparency to achieve efficiency as emphasised by the late President Hage Geingob. Joining mourners at Geingob's residence in Windhoek Monday night, Nandi-Ndaitwah said Geingob believed in the concept of 'the Namibian House'. She said he left Namibians with the idea of the 'Namibian House', and they therefore have a responsibility to build the country, but they have to do so in unity. Nandi-Ndaitwah was sworn in as vice president following Geingob's death on Sunday. She further said the Swapo party politburo has lost a leader who guided the party in many difficult times and issues. 'Our commitment to him is to pay homage and maintain his legacy to make sure that this party which he built up from the early stages up to the last day, remains strong and of course to guide the government in prosperity and in order in the Namibian house,' she said. Reminiscing about her time wit h Geingob, Nandi-Ndaitwah said she met him in 1974 when he accommodated her along with three other young women in his apartment in the United States of America (USA). She said they enjoyed a close relationship since and Geingob remained the same person throughout. She recalled that it was during her times with Geingob in the USA that they learned how to navigate the corridors of the United Nations and handle the international community. 'One thing he emphasised was reading, listening and always taking notes. That was really empowering to us who were there,' she said. Nandi-Ndaitwah also described Geingob as a strategist who believed in processes, systems and institutions functioning in order for issued to be addressed. Source: The Namibia Press Agency