Vitol

WattEV Secures Record-Breaking $75.6 Million in Federal Grants to Expand West Coast Electric Truck Charging Corridor

Retrieved on: 
Wednesday, January 17, 2024

“The FHWA funding awards come on the heels of the company receiving $33.6 million in late 2023 from the Transportation Corridor Enhancement Program, bringing WattEV’s total recent federal funding awards to $109 million,” stated WattEV CEO Salim Youssefzadeh.

Key Points: 
  • “The FHWA funding awards come on the heels of the company receiving $33.6 million in late 2023 from the Transportation Corridor Enhancement Program, bringing WattEV’s total recent federal funding awards to $109 million,” stated WattEV CEO Salim Youssefzadeh.
  • “These substantial investments from the federal government play a pivotal role in advancing the development of essential public truck charging infrastructure, a key factor for the success of commercial freight electrification on the West Coast and beyond.
  • In support of its mission to accelerate the transition to zero-emission transport solutions, WattEV has spent the past three years launching the first corridor for public-access medium- and heavy-duty electric vehicle (MHDEV) charging.
  • By introducing this electric truck charging facility along the I-10 freight corridor, WattEV and the City of Blythe are contributing to the broader shift toward sustainable transportation for the western United States, aligning with environmental goals and supporting interstate electric truck commerce.

Behavox Announces Outstanding 2023 Full Year Results with 58% Revenue Growth

Retrieved on: 
Wednesday, January 24, 2024

Behavox, a leader in AI-driven compliance and security solutions, has announced its 2023 full-year results, showcasing a remarkable 58% growth in revenues, accelerating from the 34% growth in 2022.

Key Points: 
  • Behavox, a leader in AI-driven compliance and security solutions, has announced its 2023 full-year results, showcasing a remarkable 58% growth in revenues, accelerating from the 34% growth in 2022.
  • Looking ahead, Behavox is poised to achieve profitability by March 2024, with expected revenue growth of 30-40% for the year.
  • This optimistic outlook underscores our ongoing growth and stability as a business.
  • Behavox Voice20 Breakthrough: Behavox Voice20 's best-in-class transcription results and its unparalleled alert quality, especially when integrated with our Quantum AI product, represent a breakthrough in voice analysis technology.

Breakwall Capital LP Announces Successful Launch

Retrieved on: 
Tuesday, January 2, 2024

Breakwall Capital LP (“Breakwall”), a credit investment firm that services the energy industry, announced today that it has launched as an independent and employee-owned asset advisor.

Key Points: 
  • Breakwall Capital LP (“Breakwall”), a credit investment firm that services the energy industry, announced today that it has launched as an independent and employee-owned asset advisor.
  • Breakwall is led by the co-founders of Riverstone Credit Partners, Christopher Abbate, Jamie Brodsky and Daniel Flannery, who have worked together for nearly two decades.
  • In launching as an independent firm with the same partnership team, Breakwall will continue to assist companies across the entirety of the energy value chain in securing innovative capital solutions.
  • “After nearly a decade of an extremely successful partnership with Riverstone, we are grateful for the opportunity to launch Breakwall Capital,” said Christopher Abbate, Managing Partner and Co-CEO of Breakwall Capital.

Vitol Enhances Compliance Monitoring With the Implementation of Behavox Quantum

Retrieved on: 
Thursday, December 21, 2023

Behavox announced today that Vitol, a global energy and commodities company, has successfully implemented Behavox’s Quantum AI SaaS solution.

Key Points: 
  • Behavox announced today that Vitol, a global energy and commodities company, has successfully implemented Behavox’s Quantum AI SaaS solution.
  • Behavox Quantum enhances Vitol’s risk coverage by providing commodity trading-specific risk coverage to proactively detect misconduct.
  • Vitol has implemented Behavox Quantum AI Risk Policies to ingest and monitor its enterprise communications for compliance risk.
  • "Initial implementation of Behavox technology has been encouraging and provided some valuable insights,” said Odile Roy de Puyfontaine, Head of Compliance at Vitol.

Apollo Funds and Vitol Announce WattEV Financing Partnership

Retrieved on: 
Wednesday, November 8, 2023

NEW YORK, HOUSTON and LONG BEACH, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Vitol today announced that Apollo-managed funds (the “Apollo Funds”) and Vitol have agreed to provide a structured debt and equity financing to WattEV (“WattEV” or the “Company”), an industry leader in heavy-duty freight electrification providing end-to-end solutions to customers through the development of electric charging infrastructure and provisioning of electric vehicle trucks.

Key Points: 
  • NEW YORK, HOUSTON and LONG BEACH, Calif., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Vitol today announced that Apollo-managed funds (the “Apollo Funds”) and Vitol have agreed to provide a structured debt and equity financing to WattEV (“WattEV” or the “Company”), an industry leader in heavy-duty freight electrification providing end-to-end solutions to customers through the development of electric charging infrastructure and provisioning of electric vehicle trucks.
  • New financing from the Apollo Funds and Vitol will help WattEV fund the development of its near-term truck charging depots throughout California, including locations in warehouse districts in nearby Gardena, San Bernadino, and Bakersfield.
  • The transaction underscores Apollo’s commitment to driving a more sustainable future and long track record of investing in or lending to companies supporting the energy transition.
  • Marathon Capital served as financial advisor to WattEV on the transaction.

Vitol Has Agreed to Sell the Assets of Vencer Energy to Civitas Resources

Retrieved on: 
Wednesday, October 4, 2023

Vitol has agreed to sell the assets of Vencer Energy to Civitas Resources for $2.15 billion, subject to customary terms, conditions, and closing price adjustments.

Key Points: 
  • Vitol has agreed to sell the assets of Vencer Energy to Civitas Resources for $2.15 billion, subject to customary terms, conditions, and closing price adjustments.
  • Established in 2020, Vencer Energy acquired its foundational asset base comprised of 44,000 net acres in the Midland Basin in June 2021.
  • Ben Marshall, Head of Vitol Americas, said: “We are pleased to announce this deal with Civitas Resources and believe the Vencer assets will be an exciting complement to their growing position in the Permian.
  • We also want to thank Don Dotson, Vencer’s CEO, and the rest of the Vencer Energy team for their hard work and tremendous results over the past 3.5 years.

Civitas Resources Adds Accretive Bolt-on in Permian Basin

Retrieved on: 
Wednesday, October 4, 2023

Increases Permian Basin scale, balancing Civitas’ portfolio between premium Permian and DJ positions: The Acquisition will add approximately 44,000 net acres in the Midland Basin and current production of approximately 62 Mboe/d (approximately 50% oil).

Key Points: 
  • Increases Permian Basin scale, balancing Civitas’ portfolio between premium Permian and DJ positions: The Acquisition will add approximately 44,000 net acres in the Midland Basin and current production of approximately 62 Mboe/d (approximately 50% oil).
  • Pro forma for the Acquisition, Civitas’ 2024 estimated Permian production is expected to be about 170 Mboe/d (approximately 50% oil).
  • Pro forma for the Acquisition, Civitas will have more than 1,200 high-quality oil development locations in the Permian Basin.
  • “In recent months, we have created a quality, scaled position in the heart of the Permian Basin.

Abaxx Provides Corporate Update

Retrieved on: 
Friday, September 29, 2023

TORONTO, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Abaxx Technologies Inc. (NEO:ABXX)(OTCQX:ABXXF) (“Abaxx” or the “Company”), a financial software and market infrastructure company, majority shareholder of the Abaxx Commodity Exchange and Clearinghouse (“Abaxx Singapore”), and producer of the SmarterMarkets™ Podcast, summarizes development activities over the past quarter and the general progress of the Company’s business plans. Abaxx also announces that it completed a financing of approximately CAD $1,013,000 through the private placement of an unsecured convertible debenture of the Company with an existing shareholder. Further details of these updates are provided below.

Key Points: 
  • Strategic Financing: The strategic financing process for Abaxx Singapore is progressing, with an expected conclusion in early Q4.
  • Abaxx has signed non-binding term sheets as well as definitive agreements with corporate strategic investors, as previously disclosed on August 14th, 2023.
  • The following press release provides a detailed update on these developments.
  • First Tranche of Strategic Financing: Abaxx Singapore, consistent with its initiative for a US$20 million to US$35 million best efforts equity private placement of preferred shares (the “Preferred Shares”) of Abaxx Singapore (the “Offering”), has formalized an investment agreement with an initial corporate investor.

California Gas Price Gap With US Grows To $1.86 Per Gallon; New State Market Monitor Pins Price Spike On Potential Spot Market Manipulation & Refinery Maintenance, Says Consumer Watchdog

Retrieved on: 
Wednesday, September 27, 2023

The average price for California gasoline was $5.69 per gallon on 9/25 and the average US price was $3.83, according to the EIA.

Key Points: 
  • The average price for California gasoline was $5.69 per gallon on 9/25 and the average US price was $3.83, according to the EIA.
  • "When the gap between US and California pump prices are $1.50 or more per gallon something is wrong.
  • The new gasoline market monitor has pointed to problems with refinery maintenance and inventory management and a questionable transaction in the spot market that artificially drove up the price at the pump.
  • One trade at an artificially inflated price can drive up the price of gasoline at every gasoline station in the state.

Avangrid and Vitol Reach Landmark Transfer Agreement for $100 Million of Production Tax Credits

Retrieved on: 
Wednesday, September 27, 2023

Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, and Vitol Inc. today announced that they have reached a landmark transfer agreement for an estimated $100 million of 2023 production tax credits (PTCs) from eight operating wind farms, totaling 1,134 megawatts of generating capacity.

Key Points: 
  • Avangrid, Inc. (NYSE: AGR), a leading sustainable energy company and member of the Iberdrola Group, and Vitol Inc. today announced that they have reached a landmark transfer agreement for an estimated $100 million of 2023 production tax credits (PTCs) from eight operating wind farms, totaling 1,134 megawatts of generating capacity.
  • “It has created a tax credit transfer process that is streamlined and removes the bottleneck that existed with the tax equity investment structure.
  • Under the IRA, renewable energy owners like Avangrid who qualify for tax credits but are not able to use them immediately can transfer credits to a third-party investor, such as Vitol.
  • The 2023 PTCs included in the transfer agreement with Vitol are from eight of Avangrid’s wind farms: