Great Bay

Altius Renewable Royalties Announces New Operating Royalty Investment and CDN$35 million Bought Deal Financing

Retrieved on: 
Thursday, December 1, 2022
SEC Rule 144A, CDN, Issue, Offering, FOR, Sale, State, Toronto Stock Exchange, News, NOT, TD, WIRE, Growth, TSX, Wind, Apollo, Investment, Apollo Global Management, Acquisition, ALTIUS, ARR, NEWS, Corporation, Renewable energy, Life insurance, Security (finance), Great Bay, Titan

ST. JOHN'S, Newfoundland and Labrador, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR”, the “Corporation”, or the “Company”) reports that Great Bay Renewables II (“Great Bay”), its subsidiary that is jointly controlled with funds managed by affiliates of Apollo Global Management (“Apollo”), has entered into a US$46 million royalty investment agreement with Longroad Energy (“Longroad”) to support Longroad’s acquisition of the 70 MWac Titan Solar project in Imperial County, CA (“Titan”).

Key Points: 
  • Great Bay also holds a royalty on Longroads operating Prospero 2 solar project in Texas.
  • The royalty investment has been structured using royalty rates that vary over time and achieve Great Bays investment hurdles while optimizing Longroads project level cash flow profile.
  • We are pleased to close our second royalty investment with Longroad, particularly as this investment proves a new use case for the adoption of our royalty financing, namely to support third-party project acquisitions.
  • ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators.

Great Bay Insurance Group Achieves Growth with BriteCore Platform

Retrieved on: 
Tuesday, September 27, 2022
DWP, Efficiency, COVID-19, Policy, API, Automation, CEO, UI, CA, Insurance, GLOBE, P&C, Risk management, Great Bay

San Mateo, CA, Sept. 27, 2022 (GLOBE NEWSWIRE) -- BriteCore , a next-generation provider of cloud-native core administration solutions for property and casualty (P&C) insurers, is pleased to announce The Great Bay Insurance Company (Great Bay) , a Demotech A-rated insurance company based in West Atlantic City, New Jersey, successfully implemented the BriteCore Platform for policy management, billing, and claims management and exceeded growth expectations.

Key Points: 
  • San Mateo, CA, Sept. 27, 2022 (GLOBE NEWSWIRE) -- BriteCore , a next-generation provider of cloud-native core administration solutions for property and casualty (P&C) insurers, is pleased to announce The Great Bay Insurance Company (Great Bay) , a Demotech A-rated insurance company based in West Atlantic City, New Jersey, successfully implemented the BriteCore Platform for policy management, billing, and claims management and exceeded growth expectations.
  • Great Bay selected the BriteCore Platform for its modern user interface (UI), intuitive quoting and claims functionality, standard integrations with vital data sources, and flexible reporting options.
  • Were very grateful for the opportunity to work with BriteCore to enable Great Bay to thrive as a startup P&C insurance provider delivering high-quality products and tailored customer service.
  • BriteCore is a cloud-native platform for P&C insurers that unlocks business growth, enhances the customer experience, and delivers great efficiency gains.

DGAP-News: Altius Renewable Royalties Reports Apex to Buy Out Remainder of Royalty Financing Following Exercise of Change of Control Option

Retrieved on: 
Friday, January 7, 2022
Company, TSX, OTCQX, WKN, Industry, Sale, Growth, Achievement, Apex, Great Bay

St. John's, Newfoundland - December 31, 2021 - Altius Renewable Royalties Corp. (TSX: ARR, WKN: A2QQFT, OTCQX: ATRWF) ("ARR" or the "Company") reports that Apex Clean Energy ("Apex") has exercised a change of control-based option to redeem the remaining residual royalty financing provided by its joint venture subsidiary Great Bay Renewables ("Great Bay").

Key Points: 
  • St. John's, Newfoundland - December 31, 2021 - Altius Renewable Royalties Corp. (TSX: ARR, WKN: A2QQFT, OTCQX: ATRWF) ("ARR" or the "Company") reports that Apex Clean Energy ("Apex") has exercised a change of control-based option to redeem the remaining residual royalty financing provided by its joint venture subsidiary Great Bay Renewables ("Great Bay").
  • The option exercise follows the recently announced sale of a majority interest in Apex.
  • Great Bay will retain the previously disclosed three royalties it has earned to date under the Apex investment agreement.
  • There can be no assurance that the provisional value ascribed to the retained royalties under the agreement will be achieved.