Latest news with #Amended
Los Angeles Times
6 days ago
- Health
- Los Angeles Times
Regulators seek to phase out gas-powered appliances in Southern California
Southern California's air quality regulators are set to vote this week on new rules aimed at phasing out the sale of gas-powered furnaces and water heaters in the region. The South Coast Air Quality Management District, or AQMD, which covers all of Orange County and large swaths of Los Angeles, Riverside and San Bernardino counties, is scheduled to vote Friday on two proposed regulations designed to limit emissions of nitrogen oxides, or NOx — the key pollutants that form smog. If approved, the AQMD's Proposed Amended Rules 1111 and 1121 would set zero-emission sales targets for manufacturers, distributors and installers of the appliances beginning in 2027. The targets ramp up over time, beginning with a 30% sales target the first year, increasing to 50% in 2029 and ultimately ending at 90% in 2036. The rules would affect an estimated 10 million units across the region, the majority of which would be in residential properties. The gas-powered appliances would still be available for sale, but manufacturers would be forced to pay surcharges for those units — costs that probably would be passed on to consumers. Officials say the plan is crucial for reducing air pollution and improving public health in the South Coast region, which continues to suffer from the worst smog in the nation and falls far below many federal health-based standards for air quality. 'This rule is a really important component of our strategy to clean up the air and be able to meet those health-based standards,' said Sarah Rees, deputy executive officer of planning and rules with the AQMD. 'We wanted to focus on where there were the biggest chunks of NOx emissions, and space and water heating are actually a fairly significant chunk that's left on the table for us to address.' Environmental groups say the rules — nearly two years in the making — are long overdue and should be even more aggressive. But opponents, including gas-appliance manufacturers, fossil fuel companies and some local government and commerce groups, say the measure will strain the electric grid and drive up costs for consumers. Prices for zero-emission units vary and can depend on factors such as the size of the home, local labor and installation costs, and whether electric panel upgrades also are required. The estimated equipment and installation cost of an electric heat pump, for example, is $17,200, compared with $11,000 for a natural gas furnace, according to the AQMD's socioeconomic impact report on the rules. However, because heat pumps can provide both heating and cooling, the agency notes that the cost of the electric unit is comparable to the cost of replacing a complete air conditioning and natural gas furnace system, which is about $20,600. Heat pump water heaters are projected to cost an average of $3,700 for equipment and installation, compared with $3,300 for natural gas units, according to the AQMD. State Sen. Tony Strickland (R-Huntington Beach) said affordability is one of his primary concerns about the rules. He is urging his constituents to weigh in against them. 'Families living paycheck to paycheck can't afford this kind of mandate,' Strickland said, adding that the cost of living in California is 42% higher than the national average. 'I want to rein in some of these boards, like [the California Air Resources Board, or CARB,] and AQMD, because they are making decisions that are detrimental to the people of California.' Officials stressed that the proposal is not a mandate. Although the original iteration of the rules called for an eventual ban on the sale of new gas-powered appliances, the final amended rules call for a slower phase-in of the clean technology that still allows consumers to purchase natural gas units if they wish. But there will be additional fees imposed on manufacturers for the sale of gas-powered units. The fees include an additional $100 for gas-powered furnaces and $50 for gas-powered water heaters, which increase to $500 and $250, respectively, if manufacturers sell more gas units than allowed by their sales target. Fees collected from the penalties will be used to fund an incentive program to help consumers purchase zero-emission appliances, such as electric heat pumps. 'It's kind of a weaker policy, but it's still a very important policy,' said Adrian Martinez, director of the Right To Zero campaign at the nonprofit Earthjustice. 'Because even though it's not as strong of a signal to get to zero-emission appliances, it still is a signal.' The potential air quality improvements from the switch to electric are substantial, including an estimated reduction of 6 tons of NOx per day by 2061. By comparison, cars in the region currently emit about 9 tons of NOx per day, Martinez said. NOx isn't only responsible for smog. As a leading source of indoor air pollution, the emissions also have been linked to respiratory infections, increased childhood asthma and other adverse health issues from exposure in homes, particularly those without proper ventilation, according to the U.S. Environmental Protection Agency. 'What we're really talking about here is public health,' said Chris Chavez, deputy policy director at the nonprofit Coalition for Clean Air. 'The fact is that if you are going to continue choosing to use polluting technology, there are going to be public health impacts — and we're going to be paying for that through asthma attacks, we're going to be paying for that through premature deaths, we're going to be paying for that in hospitalizations, either personally or through our tax dollars.' According to the AQMD's impact report, the rules would prevent approximately 2,490 premature deaths, 10,200 cases of newly onset asthma, and 1.17 million days of limited or reduced physical and outdoor activity from 2027 to 2053. More than 14,000 public comments have been submitted to the AQMD in response to the proposal, many of them in opposition. 'If these rules are adopted, it is crucial to recognize that consumer choice will be impacted and homeowners and renters, rather than industry, will be the ones forced to reach deep into their pockets to comply with these rules,' wrote Kevin Barker, a senior manager with the Southern California Gas Co., in a comment letter to the board. Opponents also expressed concern that the electric appliances will add more strain to the region's aging energy grid— or as one public commenter wrote, 'we will face further electric grid brownouts due to the increased electricity use and make life in this state worse than it already is.' Rees of the AQMD said the slow ramp-up of the rules should ensure that the grid has enough time to meet demand. The state is working to implement electrification initiatives, and officials at CARB also are moving toward a statewide ban on gas furnaces and water heaters by 2030. And although she has heard the concerns about cost, she said zero-emission technology is more efficient — and thus more cost-effective to run — and will continue to come down in price over time. The incentive program is designed to assist customers who are struggling to meet up-front costs. What's more, she said the plan encourages people to purchase zero-emission appliances only when their current unit breaks or they need a replacement, and that consumers ultimately still have a choice. 'It's really about promoting the zero-emission technology and, frankly, following existing market trends,' Rees said, noting that electric heat pumps already account for nearly a third of furnace sales in California. 'We've worked very hard, we think, to try to craft a regulation that is going to advance adoption of these cleaner technologies but still preserves consumer choice, still allows for cases where it's not affordable or practical for a consumer to adopt these types of equipment, but still get us the emission reductions at the end of the day.' Still, some advocates said they wish the rules were more aggressive, including several who spoke during the AQMD's most recent board meeting on the matter in May. 'This rule, while it's not as strong as we wish it could be, is a step forward,' said Jennifer Cardenas, a campaign organizer with the Sierra Club. 'You cannot put a price on being able to breathe clean air.' Others pointed to the San Francisco Bay Area as an example of what's possible. That region's air quality management district passed its own more stringent version of the rules two years ago, which includes a total ban on the sale of new gas-powered water heaters in 2027 and furnaces in 2029. However, Martinez of Earthjustice noted that NOx is the single-largest category of emissions under the South Coast AQMD's authority, and said that the agency would be remiss not to take action on it. 'I think the best assessment is, are we better off with or without the rule?' he said. 'Emphatically, all the evidence is showing we're better off with the rule.' The public can attend Friday's hearing online or in person at the South Coast AQMD in Diamond Bar.
Yahoo
02-04-2025
- Yahoo
City attempts to dismiss latest filing in suit surrounding officer allegedly turning off body cam during airport arrest suing excessive force: Docs
CHARLOTTE, N.C. (QUEEN CITY NEWS) — The couple at the center of a lawsuit arguing a Charlotte-Mecklenburg Police officer used unjustified, excessive force during an airport arrest opposed the city's motion to dismiss the latest filing in the case. The suit against Lowery and the city is based on the Second Amended Complaint (SAC) stemming from the March 2020 arrest of Michael Kernea at the Charlotte-Douglas International Airport. He was charged with disorderly conduct and resisting a public officer, but court documents show the legal team serving Kernea and his wife Christy argue that CMPD Officer Lee Lowery had turned off his bodycam during the incident. Judge progresses CTE lawsuit in case of ex-NFL player accused of killing 6 in Rock Hill The case is being handled in the Western District Court of North Carolina in Charlotte. Durham-based attorney Nichad Davis claims that not only did Lowery use excessive force but criminal charging documents indicate Lowery presented false statements to the Mecklenburg County magistrate, attempting to cover his 'malicious and brutal acts against Mr. Kernea, believing that there would be no other evidence to demonstrate his blatant reckless actions.' However, the airport's video surveillance was captured showing an alleged 'malicious cover-up' by Lowery. Court documents demonstrate that the night of the arrest, Lowery reportedly observed Kernea sitting on a stool near the 1897 Market, and accused him of not returning the stool to its correct position. Kernea told Lowery it was not his responsibility to move the stool to its proper location. The legal team claims Lowery was allegedly being aggressive, yelling at Kernea's face to move the stool, and eventually punching him in the face. The officer then grabbed Kernea by the waist, lifted him into the air, and slammed him to the ground, crushing his shoulder, face, and upper extremities to the concrete floor. Lowery then proceeded to arrest Kernea, causing him to plead to loosen the handcuffs since he allegedly experienced his circulation being cut off. Court documents say Christy Kernea witnessed the incident and has suffered severe emotional distress after witnessing the alleged attack and violent arrest. Between April and June 2020, following an investigation of the incident and subsequent discovery of Lowery's conduct that was caught on surveillance, the criminal charges against Kernea were all dismissed by the Mecklenburg County district attorney. Mecklenburg County promotes from within for new county manager to replace Diorio In a May 2020 report, CMPD's Internal Affairs Bureau concluded that the use of force upon Kernea was not justified. On Monday, the Charlotte City Attorney's office claimed their motion to dismiss should be granted. Officials say that years into this litigation, the plaintiffs allegedly rewrote their entire complaint over the city's objection, only after having sought permission from the court to add allegations about emotional distress. 'Even if any of Plaintiffs' claims would have otherwise survived, the court would be justified in striking the (SAC) for failing to comply with its previous order,' it reads. A week before, the Kerneas' legal team says the city's motion to dismiss should be denied, citing Fourth Amendment and North Carolina law. Further, they argue that the claims against Lowery in his official capacity are not duplicative and establish causes of action against Lowery and the city — who has waived immunity from the suit. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
02-04-2025
- Business
- Yahoo
Alico, Inc. Announces Amendment to Credit Agreement Supporting Strategic Transformation
FORT MYERS, Fla., April 01, 2025 (GLOBE NEWSWIRE) -- Alico, Inc. ('Alico' or 'the Company') (Nasdaq: ALCO) today announced it has entered into an Amendment No. 7 (the 'Amendment') to the First Amended and Restated Credit Agreement, between the Company, and by MetLife Investment Management, LLC for each of Metropolitan Life Insurance Company and New England Life Insurance Company, dated as of December 1, 2014 and as amended to date (collectively, the 'Credit Agreement'). The Amendment, which became effective March 31, 2025, adjusts certain financial covenants to support the Company's evolving business model as it progresses through its strategic transformation. Among other items, the Amendment reduces the level of Crop and Tree Insurance coverage requirements required for the 2025/2026 harvest season, which is expected to result in cost savings for Alico. John Kiernan, President and Chief Executive Officer of the Company, stated, 'These amendments to our credit agreement better align our financial covenants with the business transformation we announced earlier this year. By adjusting our covenant structure and modifying our catastrophic insurance requirements for our citrus operations, we've created a more flexible financial framework while maintaining appropriate discipline. Our lenders have been supportive partners in recognizing our evolving needs during this transformation process and we look forward to continuing to work with them through and beyond our transformation.' About Alico Alico, Inc. currently operates two divisions: Alico Citrus, currently one of the nation's largest citrus producers, and Land Management and Other Operations, which include land leasing and related support operations. While Alico Citrus will wind down operations after the 2024/2025 harvest due to environmental and financial challenges, Alico remains committed to Florida's agriculture industry, and will focus on its long-term diversified land usage and real estate development strategy. Learn more about Alico (Nasdaq: 'ALCO') at Forward Looking Statements 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. Forward-looking statements include, but are not limited to, statements regarding the Company's strategic transformation, the Company's future cash flow and cash reserves, the future use and estimated value of the Company's land holdings, the Company's ability to obtain requisite local, state, and federal approval of the development application[s] and execute on its plan to develop 'the Corkscrew Grove Villages', the Company's expected future profitable growth, expectations for the management of certain acres by third-party caretakers, and any other statements relating to our future activities or other future events or conditions. These statements are based on our current expectations, estimates and projections about our business based, in part, on assumptions made by our management and can be identified by terms such as 'if,' 'will,' 'should,' 'expects,' 'plans,' 'hopes,' 'anticipates,' 'could,' 'intends,' 'targets,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'forecasts,' 'predicts,' 'potential' or 'continue' or the negative of these terms or other similar expressions. These forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including, but not limited to: our implementation of our planned strategic transformation; our plan to wind down our citrus production operations to focus on our long-term diversified land usage and real estate development strategy; our ability to secure necessary regulatory approvals and permits for land development projects, effectively manage and allocate resources to new business initiatives, attract and retain skilled personnel with expertise in diversified land usage and real estate development, navigate potential market fluctuations and economic conditions, maintain strong relationships with lenders and continue to satisfy covenants and conditions under current loan agreements and address potential environmental and zoning issues, and other challenges inherent in real estate development; our ability to increase our revenues from land usage and real estate development; adverse weather conditions, natural disasters and other natural conditions, including the effects of climate change and hurricanes and tropical storms; risks related to our expected significant revenue shift to real estate development and diversified farming operations; our ability to effectively perform grove management services, or to effectively manage our portfolio of groves; our relationship with Tropicana; if certain criteria are not met under one of our contracts with Tropicana, we could experience a significant reduction in revenues and cash flows; product contamination and product liability claims; water use regulations restricting our access to water; changes in immigration laws; harm to our reputation; tax risks associated with a Section 1031 Exchange; risks associated with the undertaking of one or more significant corporate transactions; the seasonality of our citrus business; fluctuations in our earnings due to market supply and prices and demand for our products; climate change, or legal, regulatory, or market measures to address climate change; Environmental, Social and Governance issues, including those related to climate change and sustainability; increases in labor, personnel and benefits costs; increases in commodity or raw product costs, such as fuel and chemical costs; transportation risks; any change or the classification or valuation methods employed by county property appraisers related to our real estate taxes; liability for the use of fertilizers, pesticides, herbicides and other potentially hazardous substances; compliance with applicable environmental laws; loss of key employees; material weaknesses and other control deficiencies relating to our internal control over financial reporting; macroeconomic conditions, such as rising inflation and the deadly conflicts in Ukraine and Israel; system security risks, data protection breaches, cybersecurity incidents and systems integration issues; our indebtedness and ability to generate sufficient cash flow to service our debt obligations; higher interest expenses as a result of variable rates of interest for our debt; our ability to continue to pay cash dividends; and certain of the other factors described under the sections "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in our Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2024 filed with the Securities and Exchange Commission (the 'SEC') on February 12, 2025. Except as required by law, we do not undertake an obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. Investor Contact:John MillsICR(646) 277-1254InvestorRelations@ Brad HeineChief Financial Officer(239) 226-2000bheine@
Associated Press
31-03-2025
- Business
- Associated Press
Battery X Metals Closes Acquisition of All Remaining Shares of Lithium-Ion Battery Diagnostics and Rebalancing Technology Company
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / March 31, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces that, further to the Company's news release dated March 20, 2025, it has completed, effective March 28, 2025, the acquisition of the remaining 51% of the common shares of Li-ion Battery Renewable Technologies Inc. ('LIBRT') pursuant to the exercise of its Call Right, as defined therein, from the LIBRT shareholders in consideration for 3,030,296 common shares (the 'Shares') of the Company (the 'Acquisition'). No finder's fees are payable in connection with the Acquisition. Since acquiring its initial 49% interest in 2024, as disclosed in the Company's news releases dated September 27, 2024, and October 2, 2024, LIBRT has reached key milestones in technology development, strengthened its partnership with Beijing Pengneng Science & Technology Ltd. through a Second Amended Agreement, and significantly progressed the design, development, and production of its Diagnostic and Rebalancing Machine Prototype 2.0, scheduled for delivery in April 2025. LIBRT has also retained a leading patent law firm to file provisional patents for its proprietary lithium-ion battery diagnostic and rebalancing technology. In light of these milestones, Battery X Metals determined that consolidating full ownership of LIBRT would support its long-term strategic vision, as outlined in the Company's roadmap shared in its February 24, 2025 news release. This Acquisition aligns with the Company's commitment to developing a vertically integrated and sustainable battery supply chain through its three core verticals: critical battery metal exploration, proprietary material recovery technologies, and battery diagnostics and rebalancing solutions. Battery X Metals plans to advance its exploration portfolio with the goal of discovering new sources of key minerals, thereby supporting long-term supply for the battery industry. In parallel, the Company is developing eco-friendly battery-grade material recovery technologies that avoid traditional smelting and leaching methods, instead reclaiming critical battery materials from end-of-life lithium-ion batteries through low-impact processes. Complementing these efforts, LIBRT's proprietary rebalancing technology is designed to extend the lifespan of EV and lithium-ion batteries-reducing waste and demand for raw materials. Together, these three pillars position Battery X Metals to address material shortages while enabling a more circular and sustainable battery ecosystem. 'The consolidation of LIBRT marks a pivotal moment for Battery X Metals as we execute on our vision of building a fully integrated and sustainable battery technology platform,' said Massimo Bellini Bressi, CEO of Battery X Metals. 'With LIBRT's cutting-edge diagnostics and rebalancing capabilities, we're not only addressing battery material scarcity-but also shaping a smarter, cleaner future for the lithium-ion and EV battery industry.' With full ownership of LIBRT, Battery X Metals continues to strengthen its foundation for sustainable innovation and long-term growth. The Company's diversified 360° approach to the battery metals industry includes: Expanding and advancing a portfolio of critical battery metal exploration properties across North America; Developing eco-friendly, proprietary battery-grade material recovery technology- in partnership with a globally top-20 ranked mining engineering university- to extract critical battery materials from end-of-life lithium-ion batteries; and Pioneering lithium-ion battery diagnostic and rebalancing technologies designed to extend the life and performance of electric vehicle (EV) and energy storage batteries. Battery X Metals remains committed to supporting the global energy transition and building a circular economy for the battery industry. Terms of the Acquisition Of the 3,030,296 Shares of the Company to be issued on closing of the Acquisition, 1,818,176 Shares to be issued to management and key personnel of LIBRT are subject to a 12-month voluntary release escrow on a pro rata basis. This restriction will be implemented through the use of restrictive legends imprinted on the share certificates or DRS statements, as applicable, following closing. Certificates and DRS statements (as applicable) for these escrowed shares will be separated into 12 separate certificates or statements, which will be delivered at closing to each applicable vendor. Each certificate or statement, except for the first, which will not be subject to a restrictive legend, will carry a distinct hold period expiring in consecutive 30-day intervals, resulting in a total of 12 release periods from March 28, 2025. The remaining 1,212,120 Shares issued on closing are not subject to any restrictions. Additionally, each vendor has agreed not to sell, transfer, assign, or dispose of any Shares exceeding 10% of the daily trading volume on the CSE unless otherwise approved in writing by the Company. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the U.S. Securities Act of 1933, as amended (the '1933 Act'), or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:R0W, WKN:A3EMJB) is an energy transition resource exploration and technology company committed to advancing domestic battery and critical metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit About Li-ion Battery Renewable Technologies Inc. Li-ion Battery Renewable Technologies Inc. is a development-stage battery technology company based in Vancouver, BC, focused on becoming a leader in lithium-ion battery diagnostics and renewal technologies. LIBRT utilizes innovative and proprietary technology to diagnose and extend the lifespan of electric vehicle (EV) batteries. Its battery cell rebalancing technology addresses capacity degradation caused by cell imbalances, helping to extend battery life, reduce the need for costly replacements, keep batteries out of landfills, and minimize the demand for mining critical metals. Additionally, LIBRT is developing advanced diagnostic equipment for EV battery services. On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities legislation (collectively, 'forward-looking statements'). Forward-looking statements are not historical facts and are typically identified by words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes,' 'estimates,' 'potential,' 'scheduled,' or similar expressions suggesting future outcomes. These statements include, but are not limited to, statements regarding: the anticipated benefits of the Acquisition of Li-ion Battery Renewable Technologies Inc. ('LIBRT'), the Company's strategic plans and vision, the development, performance, and delivery timeline of LIBRT's Diagnostic and Rebalancing Machine Prototype 2.0, the filing of intellectual property and patents, the potential environmental and industry impact of LIBRT's proprietary technologies, and the Company's broader strategy to develop a vertically integrated, eco-friendly battery supply chain across its core business verticals. Forward-looking statements are based on management's current beliefs, expectations, and assumptions, including, but not limited to: the ability to integrate LIBRT successfully, ongoing development and deployment of LIBRT's technologies, timely delivery of Prototype 2.0, successful protection of intellectual property, and favorable market and regulatory conditions. However, these forward-looking statements involve risks and uncertainties, many of which are beyond the Company's control. Actual results may differ materially from those expressed or implied due to various factors, including but not limited to: regulatory approvals and changes, integration risks related to the Acquisition, delays or challenges in technological development, uncertainty around intellectual property filings and protections, market demand for battery technologies, general economic conditions, geopolitical developments, and risks related to the battery metals and clean technology sectors. Readers are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this release are made as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law. For additional information on risks and uncertainties, readers should consult the Company's public filings available on SEDAR+ at
