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Etrion Announces Agreement to Sell the 9.5 MW Misawa Solar Project to Japanese Consortium for Total Cash Consideration of approximately JPY 1.6 billion

GENEVA, June 03, 2021 (GLOBE NEWSWIRE) — Etrion Corporation (“Etrion” or the “Company”) (TSX: ETX) (OMX: ETX), a solar independent power producer, today announced that Solar Resources Holding Sàrl and Etrion Japan K.K., wholly-owned subsidiaries of the Company, have entered into agreements (the “Transfer Agreements)” to sell their interests in the Company’s 9.5 MW Misawa operating solar energy project to a Japanese company, GK Misawa Solar, for an aggregate net purchase price of approximately JPY 1.6 billion (or USD 14.6 million), subject to certain adjustments at closing.Completion of the sale of the 9.5 MW Misawa project pursuant to the Transfer Agreements is subject to certain conditions precedent including all necessary regulatory and third-party approvals, as well as the buyer being satisfied with the Company’s recovery plan for the Misawa project. The closing the transaction is currently expected to take place before the end of July 2021.Management Comments Marco A. Northland, Etrion’s Chief Executive Officer, commented: “We are very pleased to have signed the agreement for the sale of the 9.5 MW Misawa solar operating project; in parallel, we are extremely focused in completing the repair plan for the full recovery of the plant ahead of the expected closing of the transaction before the end of July.”Etrion was advised on this transaction by Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.

About Etrion Etrion Corporation is an independent power producer that develops, builds, owns and operates utility-scale solar power generation plants. The Company owns and operates 57 MW of solar capacity in Japan. The Company is listed on the Toronto Stock Exchange in Canada and the Nasdaq Stockholm exchange in Sweden under ticker symbol “ETX”. Etrion’s largest shareholder is the Lundin family, which owns approximately 36% of the Company’s shares directly and through various trusts.For additional information, please visit the Company’s website at www.etrion.com or contact:Christian Lacueva – Chief Financial Officer Telephone: +41 (22) 715 20 90Note: The capacity of power plants in this release is described in approximate megawatts on a direct current (“DC”) basis, also referred to as megawatt-peak (“MWp”). This information is information that Etrion Corporation is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 13:05 p.m. CET on June 3, 2021.

Forward-Looking Information: This press release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to the Company’s proposed sale of its Misawa solar project) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company as well as certain assumptions including, without limitation, the ability of the Company to complete the sale of the Misawa project. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the risk that the Company may not be able to complete the sale of the Misawa project or the completion of such sale may be delayed. Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Celigo Appoints Shane Kent Chief Revenue Officer

SAN MATEO, Calif., June 3, 2021 /PRNewswire/ — Celigo, the leading Integration Platform-as-a-Service (iPaaS) provider for business and technical users, today announced Shane Kent has joined the company as its first Chief Revenue Officer (CRO). Following another quarter of record growth due to new customer acquisition, as well as rapid expansion within existing customer deployments, Celigo will consolidate all of its global sales efforts under Kent’s leadership.”Shane is the generational sales leader Celigo needs in this time of unprecedented growth,” said Jan Arendtsz, founder and CEO, Celigo. “He spent over 20 years building high-performance sales teams at companies recognized for excellence in integration API management, such as Talend and OpenLegacy. Shane will play a pivotal role in Celigo’s mission to become the leading automation platform for Digital Enterprises.””With my background in the iPaaS industry, I instantly recognized Celigo as a disrupting force that solves major industry problems in innovative ways,” said Shane Kent, Chief Revenue Officer, Celigo. “I was impressed by Celigo’s market momentum, technology, executive team and overwhelming investor support. My philosophy is to ‘go big or go home’ and I think Celigo is the next big thing to disrupt the entire space.”Additional Resources

See how Celigo is helping its customers transform their businesses: celigo.com/customersLearn more about the Celigo platform: integrator.ioBecome a member of Celigo’s partner community: celigo.com/partnersJoin Celigo and apply for one of its open positions: celigo.com/careersAbout CeligoCeligo is the next-generation Integration Platform-as-a-Service (iPaaS) built for both IT professionals and business users that easily connects and automates processes across thousands of applications. Named a G2 Best Software for 2021, Celigo allows users to quickly build, manage and handoff complex integrations at scale, requiring fewer IT resources and lowering the total cost of ownership. For more information and to start integrating for free, visit www.celigo.com. Follow us at LinkedIn, Twitter, and Facebook.Contact: Rico AndradeCell 1.650.793.3537 View original content to download multimedia:https://www.prnewswire.com/news-releases/celigo-appoints-shane-kent-chief-revenue-officer-301304852.htmlSOURCE Celigo, Inc

Many cryptocurrency firms are not meeting money laundering rules, UK watchdog warns

Omar Marques | LightRocket | Getty ImagesLONDON — A “significantly high” number of cryptocurrency firms are failing to meet U.K. requirements on preventing money laundering, the country’s financial services watchdog has warned.Businesses offering crypto-related services are required to register with the Financial Conduct Authority. The regulator introduced a temporary licensing regime for firms whose applications haven’t yet been approved to allow them to continue trading.The FCA said Thursday that it had pushed back the deadline for the so-called Temporary Registration Regime from July 9, 2021, to March 31, 2022.”A significantly high number of businesses are not meeting the required standards under the Money Laundering Regulations resulting in an unprecedented number of businesses withdrawing their applications,” the FCA said in a statement.”The extended date allows cryptoasset firms to continue to carry on business whilst the FCA continues with the robust assessment being undertaken.”Just five crypto companies are currently registered with the FCA. Those include Tyler and Cameron Winklevoss’ Gemini and British start-up Ziglu. There are dozens of applicants sitting on the Temporary Registration Regime list.Cryptocurrencies like bitcoin have long been dogged by worries over their use in illegal activities like money laundering and cyberattacks. That’s because the people transacting them don’t reveal their identity. Officials have also warned about the speculative nature of crypto assets.In January, the FCA issued a stark warning to cryptocurrency investors.”Investing in cryptoassets, or investments and lending linked to them, generally involves taking very high risks with investors’ money,” the regulator said.”If consumers invest in these types of product, they should be prepared to lose all their money.”The FCA reiterated its stance Thursday, warning that many cryptocurrencies are “highly speculative and can therefore lose value quickly.”Bank of England Governor Andrew Bailey — who was previously chief executive of the FCA — last month gave a similar statement. Cryptocurrencies “have no intrinsic value,” he said, adding: “Buy them only if you’re prepared to lose all your money.”

Russia's top digital bank wants to offer crypto — but tough central bank policy stands in its way

Tinkoff, the biggest online bank in Russia, wants to offer cryptocurrency trading to its clients but says this will take time due to a tough stance from the country’s central bank.Oliver Hughes, Tinkoff’s CEO, said Thursday there were “qualified investors who know what they’re doing” who want to invest in crypto, but that his company isn’t currently able to offer them those services.”There’s no mechanism for us to offer that product to them in Russia at the moment because the central bank has got this very tough position,” he told CNBC’s Hadley Gamble at the St. Petersburg International Economic Forum.A Bitcoin ATM in a grocery store in Russia.Yegor Aleyev | TASS via Getty ImagesRussia gave cryptocurrencies like bitcoin legal status in 2020. However, it banned digital assets from being used in payments, saying that only the Russian ruble could be considered legal tender.Earlier this week, Russian central bank governor Elvira Nabiullina told CNBC that digital currency was the “future for our financial system.” But she was referring to central bank digital currencies, or CBDCs, rather than crypto.Unlike cryptocurrencies, which are designed to be decentralized, CBDCs are issued and controlled by authorities. Like China and the U.S., Russia is also currently exploring a digital version of its currency.Alexander Shulgin, CEO of Russian e-commerce firm Ozon, said a digital ruble would help his business.”If everyone has the opportunity to pay with digital currency online, it’s (an) easier transaction for companies like us,” he told CNBC Thursday, also speaking from SPIEF.Governments have become increasingly wary of cryptocurrencies, due in no small part to their use in illegal activities like money laundering and terrorist financing.Digital assets are also incredibly volatile, with the price of bitcoin having fallen from a record high of $64,829 in April to as low as $30,001 the following month.Hughes said he recognizes concerns over the use of crypto in money laundering, as well as retail investors “who see cryptos glittering at the moment and maybe make poor investment decisions.”But he added professional investors are warming to the asset class.”Hopefully over time this will evolve and we’ll be able to achieve the aims of the central bank, making sure there’s no money laundering issues, making sure we’re protecting investors, but also offer products in a responsible way,” Hughes said.

Splunk to Present at the BofA Securities 2021 Global Technology Conference

Splunk Inc. (NASDAQ: SPLK), provider of the Data-To-Everything Platform, today announced its virtual participation at the BofA Securities 2021 Global Technology Conference. Doug Merritt, president and CEO, and Jason Child, chief financial officer, will host a discussion and Q&A session beginning at 1:00 p.m. PT on Thursday, June 10, 2021. Interested parties may access a […]

LONGi breaks three world records for solar cell efficiency of N-type TOPCon, P-type TOPCon and HJT

XI’AN, China, June 3, 2021 /CNW/ — LONGi has consolidated its leading role in R&D innovation in the global PV industry by setting new cell efficiency records for N- and P-type TOPcon and HJT. The company announced in April its record of 25.09% for N-Type TOPCon solar cell efficiency and, one month later, testing at the Institute for Solar Energy Research (ISFH) in Hamelin, Germany, has confirmed that the conversion efficiency of N-type monocrystalline bifacial TOPCon solar cells developed at LONGi’s Cell R&D Center has now reached 25.21%. The Cell R&D Center has also achieved an innovative breakthrough in high-efficiency P-type monocrystalline solar cell product technology. Again tested by ISFH (Calibration Mark: 001592), the efficiency of a commercial size P-type monocrystalline bifacial TOPCon solar cell exceeded 25% for the first time, setting a world record of 25.02% in the process. ISFH has also been able to confirm that the conversion efficiency of a commercial size monocrystalline HJT solar cell produced by LONGi’s New Technology R&D Centre reached a record of 25.26%, additionally placing the company at the forefront of HJT related technology.

“With the ambitious goals we have set for ourselves, our approach is to stay close to the essence of technology by selecting the best technical route, maximizing product performance potential and proactively ushering in the changes needed to achieve the technical transformation,” commented Dr. Li Hua, Vice President and Head of LONGi Solar’s Cell R&D Center. The development of new energy technology is one of the critical factors in achieving China’s two goals of ‘peaking’ carbon by 2030 and achieving carbon neutrality by 2060 and LONGi’s high-efficiency cell and module technology and resultant products enable the company to maintain its leading position in the industry in terms of efficiency, performance, quality and cost, contributing significantly to reaching these objectives. View original content to download multimedia:https://www.prnewswire.com/news-releases/longi-breaks-three-world-records-for-solar-cell-efficiency-of-n-type-topcon-p-type-topcon-and-hjt-301304869.htmlSOURCE LONGi Solar

Leon Black may find some silver linings in defamation suit against him

Sifting through this week’s explosive lawsuit against Leon Black by an ex-Russian model, there may be a bright spot for Black: The case isn’t likely to dig up any dirt about the billionaire’s alleged ties with Jeffrey Epstein.

That’s because the defamation suit filed Tuesday by Guzel Ganieva — a single mother who denies Black’s claim that the pair had a “consensual affair,” instead accusing him of “sadistic sexual acts” — doesn’t mention Epstein, and therefore doesn’t provide grounds for digging into matters pertaining to the dead pedophile, legal experts say.

Another potential positive for Black: While the lawsuit includes a gruesome allegation of a 2014 rape, it isn’t likely to spur an investigation by the New York District Attorney, according to experts.

“Winning a rape case is so difficult,” says New York trial lawyer Mark Moody. “It happened seven years ago. Presumably, there is no evidence. It also looks like a ‘he said, she said’ story. It would be difficult to prove it criminally.”

It could be, however, that the positives end there. That’s because the series of graphic accusations in the suit, filed in New York state court, threaten to dwarf concerns around Black’s ties to Epstein, which until now have only been established as financial.

Analysts say it’s unlikely sex offender Jeffrey Epstein, and his alleged ties to Leon Black, will be fodder for the defamation suit brought against Black by a former model.New York State Sex Offender Registry via AP, File

The legal battle with Ganieva, which may very well result in a trial, could drag on for years.

“Ms. Ganieva’s allegations of harassment and other inappropriate behavior are categorically untrue,” Black said in a statement on Tuesday (His reps declined to comment further on Wednesday). “This frivolous lawsuit is riddled with lies, and is nothing more than a wholesale fiction.”

Black will likely aim to narrow the case to the defamation claims and seek confidentiality as often as possible — a request that won’t necessarily be granted by a judge, according to experts. In about a year, look for Black to file a motion to dismiss the suit before offering Ganieva any money, says Patrick Boyd of the Boyd Law Group.

Ex-model Guzel Ganieva is suing former Apollo Global Management chief Leon Black, alleging defamation and sexual violence.PatrickMcMullan.com

Ganieva’s lawyers didn’t speak with Black’s legal team before filing the suit, according to a source briefed on the situation. That’s “slightly unusual,” according to Boyd, who says Ganieva may have feared Black would preempt her suit with a media offensive of his own, making it difficult to air her allegations. 

Ganieva’s law firm Wigdor declined to comment. Nevertheless, Moody says Ganieva’s case looks strong and will survive a motion to dismiss. A jury trial is three to six years away, sources said.

“It’s difficult to see how a narrative can be created by Black to counter the claims and get a summary judgment,” Moody said.

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Manhattan politicos squash NYC casino project

Manhattan politicos have squashed Gov. Cuomo’s plan to fast track a Las Vegas-style casino in the Big Apple, The Post has learned.

As The Post exclusively reported in March, three big name casinos — Wynn Resorts, Bally’s Corp. and Las Vegas Sands — have been gearing up for a rare opportunity to compete for a New York City-area casino license as soon as this year.

But efforts to move the process up by two whole years — to 2021 from 2023 — have collapsed amid strong objections from Manhattan legislators, sources said.

“I adamantly oppose any casino in Manhattan,” Manhattan Assemblyman Richard Gottfried, who represents the Upper West Side, told The Post. “I believe it would be seriously detrimental to the residential and commercial quality of Manhattan.”

State legislators had been working for months to get around Manhattan’s objections, including by crafting a bill to give Manhattan officials the right to decide for themselves on any casino license proposals that came their way.

But, Gov. Andrew Cuomo did not like the idea of giving the powerful island borough special rights, sources said, and the measure could not pass without it.

Gov. Cuomo was opposed to the idea of giving Manhattan lawmakers rights to make key decisions about a casino project for the Big Apple.EPA

“This got really close. It fell apart in the wee hours of the morning,” the source said, referring to the April 6 budget deal.

Gov. Cuomo believed that making an exception for Manhattan would only open the door to special requests in other budget negotiations. And he is against the idea of home rule, where a county can circumvent state laws, the source said.

Freeman Klopott, a spokeswoman for the New York State division of the budget, suggested the the bill could be revived again this year: “With the influx of federal funding, there was less of an imperative to change the status quo, however we are continuing to work with the Legislature to see if there is a path forward this year.”

Wynn Resorts was among the casino giants gearing up for the chance to compete for an NYC-area casino license.Getty Images

But Sen. Joe Addabbo, chair of the Racing and Wagering Committee, told The Post, “There’s mere discussion at this point. There’s nothing really going on.”

And casino execs say they’re not holding their breath for a deal this year.

“I think they will be bringing it up again in January,” one casino source said.

Manhattan Assemblyman Richard Gottfried, representing the Upper West Side, is among Manhattan officials opposed to bringing a casino to the Big Apple.Evan Agostini/Invision/AP

The most recent effort to push the bill came in May after the budget was already passed, sources said. But it failed and the campaign has come to a complete standstill since, sources added.

The race to bring a piece of the Las Vegas Strip to the Big Apple kicked off in 2013 with a constitutional amendment authorizing seven New York gambling casinos. The four upstate casinos were licensed first and a moratorium was placed on the downstate casinos until 2023. 

Efforts to accelerate the downstate casino licenses had been seen as a potential fix to the state’s pandemic woes. The state stands to create new jobs and collect roughly $1.5 billion in license fees from the measure, sources said.

Dreams of NYC having a scene like this one on the Las Vegas Strip look to be dead in the water for now. Getty Images

Two of the three downstate licenses are expected to go straight to gaming properties that already run slot machines in the area: the Resorts World Aqueduct racino in Queens and the MGM Resorts-owned Empire City Casino in Yonkers. 

The third license is the one that had Las Vegas and Atlantic City casino chains like Wynn Resorts, Bally’s Corp. and Las Vegas Sands drooling.

Disappointed casino execs now say they have no choice now but to hope that the bill is revived again before 2023.

Activist Engine No. 1 wins third seat on Exxon board

ExxonMobil shareholders elected a third director nominated by hedge fund Engine No. 1 to the oil company’s board, the company said on Wednesday, extending the new firm’s upset victory at one of America’s most iconic corporations.

The election was a shock to an energy industry struggling to address growing investor concerns about global warming and a warning to Exxon managers that years of weak returns were no longer acceptable.

Engine No. 1 nominee Alexander Karsner, a strategist at Google owner Alphabet, won the fund’s third seat, according to a regulatory filing. Exxon board member and former Caterpillar CEO Douglas Oberhelman also was elected, the company said.

“We look forward to working with all of our directors to build on the progress we’ve made to grow long-term shareholder value and succeed in a lower-carbon future,” said Exxon Chief Executive Darren Woods in a statement.

Woods, who campaigned against the challenger, was re-elected by 94.1 percent, a larger margin than a year ago. A non-binding shareholder proposal asking the company to split the CEO and chairman’s roles was supported by 22.1 percent compared to 32.7 percent last year, according to the preliminary numbers.

ExxonMobil CEO Darren Woods had campaigned against the slate backed by hedge fund Engine No. 1.Getty Images

Existing directors Steven Kandarian, Samuel Palmisano and Wan Zulkiflee will exit the 12-person board, the filing said. Former IBM CEO Palmisano was the board’s longest serving director with 15 years.

The tallies remain preliminary as the counting continues a week after Exxon’s annual meeting, where the company delayed proceedings by taking a recess, a move criticized by Engine No. 1 as a pretext to continue to solicit votes.

“We hope the existing board directors will work with the new non-executive directors and benefit from their significant experience with transition plans and in renewable energy,” said Bess Joffe, at the Church Commissioners for England, which invests for the Church of England.

AMC stock nearly doubles — but hedge fund has ‘no regrets’ about selling

Shares of AMC Entertainment nearly doubled on Wednesday — but Mudrick Capital, which liquidated a $230 million position in the movie exhibitor a day earlier, isn’t eating its heart out, sources told The Post.

Even as the stock doubled to $62.55 — up 95 percent from the previous day’s close of $32.04 — people close to the hedge fund shrugged it off. One insider said of the brief flirtation with AMC stock, “It’s history,” adding that there were “no regrets.”

That’s despite the fact that investors in Mudrick — who on Tuesday made a quick, relatively modest profit on a chunk of 8.5 million shares the fund had bought from the company in a secondary offering — could have made hundreds of millions of dollars staying in the stock for an extra 24 hours.

Indeed, the latest Reddit rally on Wednesday continued to pump AMC to an unprecedented market capitalization of more than $28 billion.

The rub? Most of Mudrick’s investors come from a different world than Redditors — “one that values business based on fundamentals,” according to a source close to the fund. Likewise, the fund’s backers recognize that stock-price fluctuations aren’t evidence of value, even if they are sending the shares to sky-high levels, sources said.

AMC’s stock doubled to $62.55 on June 2, 2021 — up 95 percent from the previous day’s close.Alamy Stock Photo

On Wednesday morning, AMC CEO Adam Aron unveiled a new initiative to engage with the movie exhibitor’s “extraordinary base of enthusiastic and passionate individual shareholders.” The program will offer various rewards for retail investors including special communication from Aron and free popcorn.

That was a day after AMC admitted in a securities filing that its current market capitalization “reflects valuations that diverge significantly from those seen prior” and that “purchasers of our Class A common stock could incur substantial losses if there are declines … driven by a return to earlier valuations.”