Trucking

Evans Expected to Increase Momentum With Expanded Credit Facility from PNC Bank

Retrieved on: 
Tuesday, December 20, 2022

Evans Transportation Services Inc. today announced it has closed a new credit facility with PNC Bank, N.A.

Key Points: 
  • Evans Transportation Services Inc. today announced it has closed a new credit facility with PNC Bank, N.A.
  • The new larger credit facility will serve as a vehicle for supporting the company’s current growth trajectory, which includes a revenue increase from $80 million to $400 million since 2018.
  • Officials said newly expanded resources add support for Evans’ scalable growth, while allowing the company to return meaningful value to its client-carriers.
  • “This new credit facility couldn’t come at a better time, as we expect our current business to expand by, at minimum, an additional 10% in 2023,” said Evans’ CEO Ryan Keepman.

Eaton supports Environmental Protection Agency efforts to reduce commercial vehicle emissions

Retrieved on: 
Tuesday, December 20, 2022

Intelligent power management company Eaton today announced it supports new regulations issued by the U.S. Environmental Protection Agency (EPA) that establish updated emission standards for heavy-duty commercial vehicles developed through open and collaborative discussion among stakeholders.

Key Points: 
  • Intelligent power management company Eaton today announced it supports new regulations issued by the U.S. Environmental Protection Agency (EPA) that establish updated emission standards for heavy-duty commercial vehicles developed through open and collaborative discussion among stakeholders.
  • “Eaton has been developing emission-reducing solutions as part of the transformation of its vehicle business to meet the needs of future low- and zero-emissions transportation and further reduce greenhouse gas emissions,” Faria said.
  • Eaton products range from efficient and less polluting powertrains to key elements of electrified propulsion and enhanced high-voltage power distribution and protection.
  • Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere.

New York Speeds up Traffic With Award-winning Cashless Tolling System by Kapsch TrafficCom

Retrieved on: 
Tuesday, December 20, 2022

Kapsch TrafficCom USA announces the delivery completion for a new tolling system covering four bridges and two tunnels between New York and New Jersey.

Key Points: 
  • Kapsch TrafficCom USA announces the delivery completion for a new tolling system covering four bridges and two tunnels between New York and New Jersey.
  • With the new system, the toll point with the highest traffic volume and commercial traffic in the United States will offer cashless tolling.
  • “With the system for the Lincoln Tunnel going live, we have concluded six years of tireless work to enable cashless tolling for drivers crossing between New York and New Jersey,” comments JB Kendrick, President Kapsch TrafficCom USA.
  • The tolling system covers four bridges, two tunnels, thirteen zones, two-way traffic with one direction tolled at reversable lanes and three plazas.

FarEye Recognized in 2022 Gartner® Market Guide for Last-mile Delivery Technology

Retrieved on: 
Tuesday, December 20, 2022

FarEye today announced inclusion in the first-ever Gartner "Market Guide for Last-mile Delivery Technology Solutions1" report as the one of 18 Representative Vendors.

Key Points: 
  • FarEye today announced inclusion in the first-ever Gartner "Market Guide for Last-mile Delivery Technology Solutions1" report as the one of 18 Representative Vendors.
  • However, in terms of software demands, the United States is the leading market for last-mile delivery software.”
    “We have been simplifying last-mile delivery for hundreds of companies globally for nearly a decade.
  • We believe being recognized in the first Market Guide covering Last-mile Delivery Technology is further validation of our strategic focus on last-mile delivery,” said Kushal Nahata, CEO and co-founder, FarEye.
  • 1 Gartner, Market Guide for Last Mile Delivery Technology Solutions, Oscar Sanchez Duran, Carly West, Nathan Lease, December 13, 2022
    FarEye’s Delivery Management platform turns deliveries into a competitive advantage.

Allego Expands Credit Facility to €400 million, Securing Growth Capital Supporting its Significant Backlog

Retrieved on: 
Monday, December 19, 2022

This credit facility is available to finance green investments, in compliance with the Green Loan Principles.

Key Points: 
  • This credit facility is available to finance green investments, in compliance with the Green Loan Principles.
  • The Company expects to utilize the refinanced credit facility to support its backlog of signed contracts.
  • Allego’s Chief Financial Officer, Ton Louwers, stated, “We are excited to have successfully increased our credit facility by €230 million to €400 million.
  • With this increase, we have reached a major milestone in Allego’s long term funding strategy to pursue and achieve our growth plans and support our secured backlog.

OPAL Fuels Inc. Announces Successful Warrant Exchange Offer

Retrieved on: 
Monday, December 19, 2022

Accordingly, the Company and Continental Stock Transfer & Trust Company entered into the Warrant Amendment, dated December 19, 2022, and the Company announced that it will exercise its right, in accordance with the terms of the Warrant Amendment, to exchange each warrant that is outstanding upon the closing of the Offer for 0.225 shares of Class A common stock per warrant, which is a ratio 10% less than the exchange ratio applicable to the Offer (the “Post-Offer Exchange”).

Key Points: 
  • Accordingly, the Company and Continental Stock Transfer & Trust Company entered into the Warrant Amendment, dated December 19, 2022, and the Company announced that it will exercise its right, in accordance with the terms of the Warrant Amendment, to exchange each warrant that is outstanding upon the closing of the Offer for 0.225 shares of Class A common stock per warrant, which is a ratio 10% less than the exchange ratio applicable to the Offer (the “Post-Offer Exchange”).
  • As a result of the completion of the Offer and the Post-Offer Exchange, no warrants will remain outstanding.
  • King & Co., Inc. as the information agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company served as the exchange agent for the Offer and Consent Solicitation.
  • OPAL Fuels Inc. (Nasdaq: OPAL) is a leading vertically integrated renewable fuels platform involved in the production and distribution of renewable natural gas (“RNG”) for the heavy-duty truck market.

Global Electric Medium- and Heavy-Duty Truck Platforms OEM Strategy Report 2022: Focus on Leading OEMS - Daimler, Volvo, Traton, Paccar, BYD, Nikola, Hyzon - ResearchAndMarkets.com

Retrieved on: 
Monday, December 19, 2022

The "Global OEM Strategies for Electric Medium- and Heavy-Duty Truck Platforms" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Global OEM Strategies for Electric Medium- and Heavy-Duty Truck Platforms" report has been added to ResearchAndMarkets.com's offering.
  • All the leading OEM groups - Daimler, Volvo, Traton, and Paccar - are anticipating 25%-35% of their new truck sales to be electric by 2030.
  • OEMs in the electric truck space are currently pursuing two types of platforms: one based on the internal combustion engine (ICE) platform and the other on a dedicated electric platform.
  • Battery placement and electric motor architecture are the most important design elements in an electric truck platform.

Clean Energy Opens New Renewable Natural Gas Station for Amazon

Retrieved on: 
Monday, December 19, 2022

Clean Energy Fuels Corp. (NASDAQ: CLNE ), the largest provider of the cleanest fuel for the transportation market, announced the opening of another renewable natural gas (RNG) fueling station that will provide an anticipated 1.4 million gallons of the clean fuel annually for Amazon and other truck fleets in the greater Chicago area.

Key Points: 
  • Clean Energy Fuels Corp. (NASDAQ: CLNE ), the largest provider of the cleanest fuel for the transportation market, announced the opening of another renewable natural gas (RNG) fueling station that will provide an anticipated 1.4 million gallons of the clean fuel annually for Amazon and other truck fleets in the greater Chicago area.
  • View the full release here: https://www.businesswire.com/news/home/20221219005206/en/
    Clean Energy opens new renewable natural gas station for Amazon in Romeoville, IL station that will provide low-carbon fuel.
  • (Photo: Business Wire)
    “The addition of the Romeoville station to our fueling network represents another step in the pathway for Amazon to realize significant carbon reduction for its transportation fleets,” said Chad Lindholm, senior vice president, Clean Energy.
  • Renewable natural gas is a viable solution that provides immediate benefits, and as such this station will mitigate greenhouse gas emissions and lessen the impact of climate change in the Chicago area.”
    Located at 300 Southcreek Parkway, the Romeoville station is part of an agreement between Clean Energy and Amazon for Clean Energy to build 19 stations nationwide.

Aurora Releases Aurora Driver Beta 5.0, As Company Advances Toward Commercial Launch

Retrieved on: 
Monday, December 19, 2022

With a more performant Aurora Driver, Aurora advances toward commercial launch and continues to increase its weekly hauls of freight for pilot customers like FedEx, Uber Freight, Werner, and Schneider.

Key Points: 
  • With a more performant Aurora Driver, Aurora advances toward commercial launch and continues to increase its weekly hauls of freight for pilot customers like FedEx, Uber Freight, Werner, and Schneider.
  • View the full release here: https://www.businesswire.com/news/home/20221219005157/en/
    With the release of Aurora Driver Beta 5.0, Aurora advances toward commercial launch and continues to increase its weekly hauls of freight for pilot customers like FedEx, Uber Freight, Werner, and Schneider.
  • Aurora Driver Beta 5.0 unlocks key safety-critical and increasingly complex highway driving capabilities, enabling the Aurora Driver to autonomously operate in more scenarios.
  • “Launching our latest beta release moves Aurora one step closer to a commercial-ready product and helps to prepare us for the scaled deployment of Aurora Horizon across the country.”
    In the past year, Aurora introduced five beta releases, each one bringing Aurora closer to commercial launch.

BitNile Holdings Obtains $14.7 Million in Secured Debt Financing to Support Private Equity Investment

Retrieved on: 
Monday, December 19, 2022

BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) announced today that it borrowed $14.7 million of principal amount of a secured promissory note (the “Note”) from an accredited investor and shareholder.

Key Points: 
  • BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”) announced today that it borrowed $14.7 million of principal amount of a secured promissory note (the “Note”) from an accredited investor and shareholder.
  • The purchase price for the Note was $13.5 million, of which $12 million was paid in cash and $1.5 million was a non-accountable expense allowance.
  • The Company’s investments in private equity and commercial real estate are led by Christopher K. Wu, the President of the Company’s subsidiary, Ault Alliance, Inc.
  • BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.