Granite (NYSE:GVA) announced today that it has begun work for a $13 million task order at the Homewood, Illinois Station as part of a Multiple Award Construction Contract (MACC) for Americans with Disabilities Act (ADA) Stations Program by The National Railroad Passenger Corporation (Amtrak). The project contract will be included in Granite’s third quarter 2020 backlog.
Granite was one of eight contractors selected in 2019 to participate in Amtrak’s ADA Stations Program MACC. The $100 million indefinite delivery/indefinite quantity (IDIQ) competitive MACC is comprised of task orders ranging from $25 thousand to $25 million, for five base years ending in 2023, plus five, one-year options through 2028. Granite is currently completing four ADA compliance upgrade projects that were previously awarded by Amtrak under this MACC Program, two in Montana and two in New York.
Amtrak’s ADA Stations Program is a comprehensive program to make the Amtrak-served stations for which Amtrak has ADA responsibility, ADA compliant and accessible. In this task order, Granite will be responsible for the renovation of a portion of the existing Homewood station's building and surrounding site. Scope of work will include modifications to the sidewalks and parking lot, restrooms, existing waiting room seating and wall mounted accessories; and replacement of station entry doors, and ramps at both station entrances and landings. Additional renovations include interior and exterior signage, and the replacement of the existing track level asphalt platform with a new 650-foot boarding platform; the construction of a weather protected ramp from the station level to the existing tunnel; and modernization of platform elevator.
"Given that this project includes multiple stakeholders and a fast-paced schedule, Granite's team has provided and will maintain a detailed phasing plan to ensure this project is safe, high-quality and is completed on-time,” said Granite Regional Vice President Benj Harding. "The robust phasing plan has been developed to minimize disruption to the traveling public.”
Construction is underway and expected to conclude in December 2021.
Granite is America’s Infrastructure Company™. Incorporated since 1922, Granite (NYSE:GVA) is one of the largest diversified construction and construction materials companies in the United States as well as a full-suite provider in the transportation, water infrastructure and mineral exploration markets. Granite’s Code of Conduct and strong Core Values guide the Company and its employees to uphold the highest ethical standards. In addition to being one of the World’s Most Ethical Companies for eleven consecutive years, Granite is an industry leader in safety and an award-winning firm in quality and sustainability. For more information, visit the Granite website, and connect with Granite on LinkedIn, Twitter, Facebook and Instagram.
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Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) ("Navidea” or the "Company”), a company focused on the development of precision immunodiagnostic agents and immunotherapeutics, is pleased to announce that it has signed a binding memorandum of understanding ("MOU”) with Jubilant Draximage Inc. dba Jubilant Radiopharma, Radiopharmaceuticals Division ("Jubilant”). The MOU outlines the terms and framework for an Exclusive License and Distribution Agreement ("ELDA”) for Navidea’s Rheumatoid Arthritis Diagnostic in the United States, Canada, Mexico, and Latin America.
In connection with the MOU, Jubilant made a $1 million equity investment in exchange for a limited exclusivity period while final due diligence efforts are completed. The investment was priced "at the market”, which was the closing price of Navidea’s common stock on the NYSE American immediately preceding the investment.
The MOU outlines certain terms that are expected to be included in the ELDA, including:
Jubilant to provide Navidea with an additional $19 million in the form of stock purchases and license fees, subject to the achievement of certain milestones, to be used to fund Navidea’s upcoming NAV3-32 (Phase 2B) and NAV3-33 (Phase 3) trials.
Jubilant will pay license fees and sales-based royalties to Navidea based on revenue generated from the sale of Navidea’s Rheumatoid Arthritis Diagnostic in the licensed territory.
Jubilant will serve as the exclusive commercial and distribution partner for Navidea’s Rheumatoid Arthritis Diagnostic in the United States, Canada, Mexico, and Latin America. Jubilant will be responsible for all commercialization efforts within the licensed territory.
The execution of the ELDA is subject to certain conditions, including Jubilant’s completion of due diligence.
Navidea also announced that on August 9, 2020, it signed a binding commitment letter with Mastiff Group LLC, for a private placement financing of up to $25 million in aggregate gross proceeds of shares of Navidea's common stock. Shares will be priced either "at the market” or at a premium to Navidea’s closing price on the date of execution (the "Private Placement Financing”). Navidea expects to sign definitive documents for a common stock only transaction, with an investor syndicate comprised of Mastiff Group LLC, John Kim Scott, Jr. and other fundamental biotech focused investors no later than August 18, 2020, with the closing to take place within 15 business days thereafter. The closing will be subject to the approval by the NYSE American of the Company’s additional listing application and other customary closing conditions.
"We're excited about the prospect of this partnership with Jubilant and the support of our investors through the committed financing" said Jed Latkin, CEO of Navidea. "The combination of Jubilant’s large nuclear medicine footprint and commitment to expand its penetration in the radio-diagnostics market makes them the ideal partner for our Rheumatoid Arthritis diagnostic. Execution of the ELDA will be a monumental step for our company, and we are pleased to have a strengthened balance sheet as we move forward.”
The securities to be sold in the private placement have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of Navidea's securities. No offer, solicitation or sale will be made in any state or other jurisdiction in which such offering, solicitation or sale would be unlawful.
Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) is a biopharmaceutical company focused on the development of precision immunodiagnostic agents and immunotherapeutics. Navidea is developing multiple precision-targeted products based on its Manocept™ platform to enhance patient care by identifying the sites and pathways of disease and enable better diagnostic accuracy, clinical decision-making, and targeted treatment. Navidea’s Manocept platform is predicated on the ability to specifically target the CD206 mannose receptor expressed on activated macrophages. The Manocept platform serves as the molecular backbone of Tc99m tilmanocept, the first product developed and commercialized by Navidea based on the platform. Navidea’s strategy is to deliver superior growth and shareholder return by bringing to market novel products and advancing the Company’s pipeline through global partnering and commercialization efforts.
For more information, please visit www.navidea.com.
About Jubilant Draximage Inc. dba Jubilant Radiopharma, Radiopharmaceuticals Division.
Jubilant Radiopharma is an industry leading pharmaceutical company specializing in Nuclear Medicine focused on developing, manufacturing, commercializing and distributing high quality and sustainable diagnostic and therapeutic agents for the sole purpose of IMPROVING LIVES THROUGH NUCLEAR MEDICINE™ on a global scale. Nearly a thousand strong and growing, the business consists of two distinct divisions; The Radiopharmaceuticals Division and the Radiopharmacies Division. Jubilant’s (JUBILANT:NSE) Radiopharmaceuticals Division has a solid foundation in developing, manufacturing and commercializing radiopharmaceuticals used for the diagnosis and treatment of various diseases. Jubilant continuously invests in the development of generic and new novel diagnostic and therapeutic radiopharmaceuticals, which will enable early and accurate diagnosis and treatment of disease leading to better patient outcomes.
For more information, visit jubilantradiopharma.com
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends affecting the financial condition of our business. Forward-looking statements include our expectations regarding Navidea’s ability to enter into the ELDA on terms acceptable to Navidea, if at all, potential benefits to Navidea under the ELDA, Jubilant’s ability to act as an effective commercial and distribution partner, and Jubilant’s expected expansion into the radio-diagnostics market. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, among other things: our ability to negotiate and enter into the ELDA on acceptable terms, if at all; Jubilant’s ability to act as a successful commercial distribution partner; our history of operating losses and uncertainty of future profitability; the final outcome of any pending litigation; our ability to successfully complete research and further development of our drug candidates; the timing, cost and uncertainty of obtaining regulatory approvals of our drug candidates; our ability to successfully commercialize our drug candidates; dependence on royalties and grant revenue; our ability to implement our growth strategy; anticipated trends in our business; our limited product line and distribution channels; advances in technologies and development of new competitive products; our ability to comply with the NYSE American continued listing standards; our ability to maintain effective internal control over financial reporting; the impact of the current coronavirus pandemic; and other risk factors detailed in our most recent Annual Report on Form 10-K and other SEC filings. You are urged to carefully review and consider the disclosures found in our SEC filings, which are available at https://www.sec.gov or at https://ir.navidea.com.
Investors are urged to consider statements that include the words "will,” "may,” "could,” "should,” "plan,” "continue,” "designed,” "goal,” "forecast,” "future,” "believe,” "intend,” "expect,” "anticipate,” "estimate,” "project,” and similar expressions, as well as the negatives of those words or other comparable words, to be uncertain forward-looking statements.
You are cautioned not to place undue reliance on any forward-looking statements, any of which could turn out to be incorrect. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this report. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this report may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.
References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Navidea is not responsible for the contents of third-party websites.
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TULSA, Okla. and VANCOUVER, British Columbia, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC PINK: JROOF) is pleased to announce that it is has entered into an agreement for the acquisition of all the assets of Hydrogen Technologies Inc. (“HTI”). HTI holds robust intellectual property for a breakthrough high-temperature Dynamic Combustion Chamber (“DCC”) boiler that enables zero-emissions hydrogen to generate heat, hot-water, high-temperature steam, and Combined Heat & Power (“CHP”) through a closed-loop process. The closing of the acquisition remains subject to the approval of the TSX Venture Exchange and also the approval of the shareholders of HTI.
HTI’s patented zero emissions DCC boiler system aims to decarbonize the nearly $30 billion global commercial and industrial heating industry while providing best-in-class energy efficiencies.
The traditional water heating, steam generation and CHP market has been powered by fossil fuel for over 100 years, producing harmful Carbon Dioxide (CO2), nitrogen oxides (NOx) and sulfur dioxide (SO2) emissions which are increasingly being phased out or eliminated through government-led emission-based performance standards worldwide
Globally, 85% of all Industrial Boilers emit harmful greenhouse gas emissions (GHG) with over 35% of the Industrial Boiler install base still powered by coal
Critically, 37% of all fossil fuels utilized in US Industry today are burned to produce steam, with all the major industrial energy users devoting significant proportions of their fossil fuel consumption to steam production: food processing (57%), pulp and paper (81%), chemicals (42%), petroleum refining (23%) and primary metals (10%)
Steam is used in 80% of the electrical generation in the US
HTI’s DCC can be used for a variety of commercial and industrial applications, generating zero emission electricity when combined with a turbine genset in CHP applications. The patented DCC technology:
Awarded the Solar Impulse Efficient Solutions Label in 2019
Requires no air permit, with water as the only by-product
Eliminates all NOx, SOx and CO2 emissions through a closed-loop combustion process
Produces at a 30% greater efficiency than traditional fossil fuel boilers with a 97% overall boiler thermal efficiency
Critically, the Total Cost of Production ($ / lb steam) is cost competitive to traditional hydrocarbon boiler systems
There are large commercial and industrial (“C&I”) markets which HTI is specifically targeting with their zero emissions DCC Hydrogen Boiler. According to market research, the C&I market for boilers represents a $30 billion annual market and is estimated to grow between 5 to 7% per year, over the next seven years, with low and zero carbon solutions expected to outpace:
Commercial markets for heat or hot water as an end-use: Shopping malls, universities and institutions, airports, hotels, stadiums, hospitals, and government buildings
Industrial markets for steam-generation as an industrial process end-use: refining and petrochemical, pulp and paper, chemical and pharmaceutical, food processing, refrigeration, metals, and mining among others
For Combined Heat & Power applications: Utility Power Generation, Energy Storage, On-Site Distributed Energy, and Data Centers will be critical markets for a zero-emissions DCC solution
As a part of the transaction, Jericho will also be acquiring the highly dedicated and robust technical team from HTI including its founder, Ed Stockton and President, Janet Reiser. Adding Ed’s technical capabilities and expertise related to the hydrogen market will allow for a seamless transition in building up the DCC boiler’s commercial success within our low-carbon energy portfolio. Prior to founding HTI in 2005, Ed spent most of his career with Florida Power & Light (now NextEra Energy) focused on low-carbon technologies with direct power plant experience, including equipment startup, maintenance, due diligence, government relations and regulation promulgation. Janet, with over 35 years of experience in energy management and engineering, most recently running the governmental Alaska Energy Authority, will continue to lead HTI’s day-to-day operations and sales efforts.
As consideration for the technology acquisition, Jericho will deliver to HTI, 6,700,000 shares of Jericho Common Stock. The Shares will be restricted pursuant to agreed upon milestones related to commercial deployment and technological successes. Jericho will pay the out-of-pocket costs associated with the transaction on behalf of HTI and winding up their entity.
Brian Williamson, CEO of Jericho Oil Corporation, states, “We are excited to announce the acquisition of HTI’s patented and novel zero emission hydrogen technology and welcome their world class team. The world is increasingly demanding a transition away from traditional energy sources to low carbon solutions – HTI’s hydrogen solution expands our portfolio to include a technology that will transition one of the largest carbon emitters to a zero-emission energy source. We look forward to receiving the exchanges final approval and updating our shareholders accordingly on our go-forward energy portfolio strategy.”
Separate from the transaction, Jericho also announces that it has granted incentive stock options (the “Options”), pursuant to its stock option plan (the “Plan”), of 700,000 common shares of the Company, to certain directors and officers of the Company. The Options are exercisable at a price of $0.45 CAD for a period of up to 5 years.
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT:Adam RabinerDirector, Investor Relations604.email@example.com