Johnson Controls | August 22, 2022
Johnson Controls (NYSE: JCI) announces its collaboration with 3Degrees, a firm that helps organizations around the world achieve renewable energy and decarbonization goals. The new collaboration aims to accelerate building owners' and operators' progress toward net zero by leveraging 3Degrees' large-scale environmental commodity solutions, including Renewable Energy Certificate (REC) transactions, long-term renewable energy procurement, carbon credit portfolio management, transportation decarbonization and climate advisory services.
"The need for global net zero solutions has never been greater, and global organizations are turning to Johnson Controls to help them achieve their goals, This collaboration with 3Degrees provides customers with market-sourced renewable energy supply services, which, together with energy efficiency, is one of the most effective paths for customers to address operational carbon emissions and achieve net zero."
-Dan Svejnar, vice president, Renewable Services, Sustainable Infrastructure, Johnson Controls.
The energy supply services can be delivered as part of the comprehensive Johnson Controls OpenBlue Net Zero Buildings offering or as a stand-alone service. OpenBlue Net Zero Buildings designs, digitizes, and deploys net zero solutions at any stage. The steps range from goal setting and facility-wide digitalization to distributed energy strategies and renewable energy supply services. The solution is also available as a performance-based service where customers pay for the outcome with a fixed monthly fee to lower their inherent risk and avoid capital investments.
The latest climate report released by IPCC shows a rapidly closing window to avoid irreversible adverse climate change and reach net zero by 2050. Scientists are calling for an immediate decrease in greenhouse emissions after findings showed carbon levels continuing to increase. The United Nations' Paris Agreement target to achieve net zero greenhouse gas emissions by 2050 is fast approaching, causing governments, businesses, and organizations around the world to rearchitect regulations and hold themselves accountable. The collaboration with 3Degrees will support global customers' urgency to meet these environmental targets.
"The challenge is clear—building emissions currently account for nearly 40% of total global emissions, It's through partnership, innovation, and steadfast commitment that we drive meaningful decarbonization. This partnership offers customers end-to-end climate solutions to accelerate our collective progress to net zero emissions."
-Scott Martin, vice president and head of global commercial business at 3Degrees.
About Johnson Controls:
At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn, and play. As the global leader in smart, healthy, and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places, and the planet. mBuilding on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing, and beyond through OpenBlue, our comprehensive digital offering. Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world's largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry.
3Degrees, a Certified B Corporation, makes it possible for businesses and their customers to take urgent action on climate change. We help organizations around the world achieve renewable energy and decarbonization goals through our work with global Fortune 500 companies, utilities, and other organizations that want to join the fight against climate change. The 3Degrees team has deep expertise in sustainability consulting, environmental markets, renewable energy and carbon project development, transportation decarbonization solutions, and utility renewable energy programs. Together with our customers, 3Degrees helps develop and implement creative solutions that ensure environmental integrity and make good business sense.
H&E Equipment Services | September 20, 2022
H&E Equipment Services, Inc. (“H&E” or the “Company”) (NASDAQ: HEES) today announced the signing of a definitive agreement to acquire One Source Equipment Rental, Inc. (“One Source”), a provider of non-residential construction and industrial equipment with operations in the Midwest and Southern U.S. One Source, which is employee owned, operates 10 branches, including three locations in each of Illinois and Indiana, two locations in Tennessee and one in each of Kentucky and Alabama. Under the terms of the definitive agreement, H&E is expected to pay $130 million in cash for One Source, before customary adjustments. The transaction is expected to close during the fourth quarter of 2022, following regulatory clearance and the completion of other customary closing conditions.
“For more than 20 years, One Source has emphasized a culture where equipment reliability and customer support and satisfaction are vital features for success, resulting in an equipment rental operation with strong consumer loyalty throughout its branch network. These important attributes, which are underscored by a dedicated base of employee owners, offer an exceptional cultural fit with H&E. Also, the transaction will expand our geographic footprint into the Midwest with operations in Illinois and Indiana, as well as operations in Kentucky. Finally, the demonstrated success of our accelerated warm start plan, with 15 warm start and greenfield locations established since early 2021, will prove beneficial as we evaluate post-integration growth opportunities in the Midwest and other surrounding regions with attractive prospects for expansion.”
-Brad Barber, Chief Executive Officer of H&E Equipment Services.
Over the last twelve months ended July 31, 2022, One Source has generated revenues of approximately $59 million with a fleet size, as measured by original equipment cost (OEC), of approximately $138 million. One Source’s fleet consists primarily of aerial work platforms, material handling equipment and other general equipment lines.
About H&E Equipment Services, Inc:
Founded in 1961, H&E Equipment Services, Inc. is one of the largest rental equipment companies in the nation. The Company’s fleet is among the industry’s youngest and most versatile with a superior equipment mix comprised of aerial work platforms, earthmoving, material handling, and other general and specialty lines. H&E serves a diverse set of end markets in many high-growth geographies including branches throughout the Pacific Northwest, West Coast, Intermountain, Southwest, Gulf Coast States, Southeast, Midwest, and Mid-Atlantic regions.
Petra | September 16, 2022
Petra, the first company capable of undergrounding critical utility infrastructure from difficult hard rock to soft ground geologies, announced the acquisition of Zilper Trenchless, a pioneer in the trenchless technology space. Zilper Trenchless machines uniquely install critical utility infrastructure through nightmare geologies such as flowing sands, cobbles, and high water table environments.
The vast majority of the world’s electric, water, and sewer utilities were not designed to withstand the storms, extreme heat, and drought brought on by climate change and rapid population growth. Above-ground power lines have caused thousands of wildfires in drought prone areas and blackouts during hurricanes. In coastal areas, increased flooding and sea level rise cause sewage to leach into waterways. There is a growing demand by municipalities to expand underground utilities, but in many populated areas with hard and soft ground nightmare geologies, conventional technology has difficulty boring through flowing sand, high water table content, and cobbles. According to the Black & Veatch 2022 Water Report, the United States would need to increase its investment in water infrastructure by $2.2 trillion over the next 20 years, or roughly $109 billion per year to close the water industry’s current investment gap.
“Changing ground conditions are the biggest risk in undergrounding,The world needs a more versatile tool that can de-risk undergrounding projects by boring through more geologies, especially nightmare geologies. Zilper has built trenchless products that can uniquely bore through some of the riskiest soft ground conditions on earth like flowing sands, dense clay, cobbles and water logged ground. The Zilper machine is innovative because it dramatically reduces the risk of excavating these nightmare geologies. The proprietary Zilper technology suite has successfully completed numerous trenchless tunnels where competing technologies have failed to deliver. Together, we’re building the future of trenchless tunneling.”
-Kim Abrams CEO,Petra.
The combined company, in an industry first, will be delivering a solution that de-risks the social, environmental, and economic costs of utility undergrounding in hard and soft soils. Zilper's trenchless technology has been used for sewage, transmission, and water projects. The versatility of the Zilper method enables it to work in extremely complicated conditions. For example, on a recently completed job to clean up waterways, Zilper installed a 16 inch metal casing beneath a river while encountering flowing sands with less than 5ft of cover, a feat unique to Petra capabilities.
“The combination of Petra and Zilper brings together complementary teams and technologies, We’ve both been building methods to excavate problematic geologies in the underground industry. Combined, Zilper and Petra provide a complete undergrounding solution to construction and utility companies who need to de-risk undergrounding projects and bore through all geologies.”
-Daniel Zillante, former CEO of Zilper and new COO of Petra.
Petra will begin manufacturing Zilper’s technologies in the United States in September 2022 for introduction to the US and European Markets in early 2023.
Zilper’s co-founders, Daniel Zillante and Robeto Zillante will join Petra’s leadership team as COO and CTO. Roberto will become Petra’s new CTO and brings over a decade of experience in the design, manufacturing, and utilization of trenchless machines. Daniel will join as Petra’s COO, bringing years of operational and strategic experience in the trenchless industry to Petra. Zilper and its founders have won over 15 awards and recognitions for their work, including the Best New Trenchless Equipment at the Latin America Conference of Trenchless Technology in 2019.
Petra safeguards communities with cutting-edge technology that bores through previously impenetrable geologies. Petra's Zilper platform is the first trenchless tunneling technology that de-risks undergrounding projects. Construction companies, municipalities, and utilities can now bury critical infrastructure at scale.
From the halls of the Massachusetts Institute of Technology, Zilper grew from 2 founders to 31 people in just three years. With more than 3,000 feet of pipeline installed, Zilper’s patented technology reached product-market fit in record-breaking time. More recently, the International Society for Trenchless Technology (ISTT) has included Zilper’s Assisted Dynamic Boring machine in their official guidelines, which has led to impressive traction in international markets.