Latest news with #Intersect
Business Wire
21-05-2025
- Business
- Business Wire
Intersect Wins Energy Risk Awards Deal of the Year for $837 Million Battery Storage Transaction
SAN FRANCISCO--(BUSINESS WIRE)--Intersect Power, LLC ('Intersect') has been awarded the Energy Risk Awards' Deal of the Year. The award recognizes Intersect's 2024 Texas battery energy storage systems (BESS) project financing totaling $837 million. Representing one of the largest U.S. battery storage deals to date, the funds supported the construction and operation of 1 GWh of three standalone BESS. 'We're proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance,' said Sheldon Kimber, CEO and founder of Intersect Power. "Our team structured and closed a complex deal that incorporated offtake, procurement, tax equity and debt components in less than six months, a pace that is unheard of in this industry. That level of commercial and financial ingenuity is what enables us to rapidly build co-located renewables and storage projects that unlock a fast, scalable, and cost-effective solution to fuel the growth of the industries of tomorrow, including AI data centers." The Energy Risk Awards honor excellence in global commodities markets, with the Deal of the Year recognizing a single transaction that demonstrates innovation, impact, and executional excellence. Winners are celebrated for playing a pivotal role in deals involving infrastructure investment, M&A, trade finance, structured products, or novel investment vehicles that deliver meaningful outcomes for clients and the broader market. Intersect develops, owns, and operates some of the country's largest BESS resources at its solar + storage facilities. These assets are designed to deliver consistent financial performance by capturing value during periods of market volatility and elevated prices while minimizing exposure to downturns. This stability is critical as Intersect plans to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage in 2025, representing approximately $9 billion in assets. These assets will help meet the unprecedented energy demands of AI data centers and provide additional grid-tied energy resources. Intersect is on an aggressive growth trajectory and is looking for talented professionals. For information on Intersect's current open roles, visit About Intersect Power Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world's largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products. Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy. We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025. To learn more, visit
Yahoo
21-05-2025
- Business
- Yahoo
Intersect Wins Energy Risk Awards Deal of the Year for $837 Million Battery Storage Transaction
SAN FRANCISCO, May 21, 2025--(BUSINESS WIRE)--Intersect Power, LLC ("Intersect") has been awarded the Energy Risk Awards' Deal of the Year. The award recognizes Intersect's 2024 Texas battery energy storage systems (BESS) project financing totaling $837 million. Representing one of the largest U.S. battery storage deals to date, the funds supported the construction and operation of 1 GWh of three standalone BESS. "We're proud to be recognized by the Energy Risk Awards for a transaction that pushed the boundaries of conventional project finance," said Sheldon Kimber, CEO and founder of Intersect Power. "Our team structured and closed a complex deal that incorporated offtake, procurement, tax equity and debt components in less than six months, a pace that is unheard of in this industry. That level of commercial and financial ingenuity is what enables us to rapidly build co-located renewables and storage projects that unlock a fast, scalable, and cost-effective solution to fuel the growth of the industries of tomorrow, including AI data centers." The Energy Risk Awards honor excellence in global commodities markets, with the Deal of the Year recognizing a single transaction that demonstrates innovation, impact, and executional excellence. Winners are celebrated for playing a pivotal role in deals involving infrastructure investment, M&A, trade finance, structured products, or novel investment vehicles that deliver meaningful outcomes for clients and the broader market. Intersect develops, owns, and operates some of the country's largest BESS resources at its solar + storage facilities. These assets are designed to deliver consistent financial performance by capturing value during periods of market volatility and elevated prices while minimizing exposure to downturns. This stability is critical as Intersect plans to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage in 2025, representing approximately $9 billion in assets. These assets will help meet the unprecedented energy demands of AI data centers and provide additional grid-tied energy resources. Intersect is on an aggressive growth trajectory and is looking for talented professionals. For information on Intersect's current open roles, visit About Intersect Power Intersect Power is a clean energy company bringing innovative, scalable, and American-made, low-carbon solutions to its customers in global energy markets. We develop, own, and operate some of the world's largest grid-tied clean energy resources, as well as co-located facilities for large industrial loads including data centers, e-fuels, and other energy-intensive products. Intersect is laser-focused on the largest, most transformative clean energy projects that decarbonize the existing power grid and bring new loads to clean generation without the need for new transmission. Intersect is redefining the scope of the clean energy industry by enabling new pathways between clean electricity and the broader economy. We have a base portfolio of 2.2 GW of operating solar PV and 2.4 GWh of battery storage in operation or construction, representing ~$4B in capital investments. We plan to break ground on an additional 4 GW of solar PV and 10 GWh of battery storage representing ~$9B of assets in 2025. To learn more, visit View source version on Contacts Media Contact:Carmen LoweIntersect Power510-250-2827Press@
Business Mayor
17-05-2025
- Business
- Business Mayor
Cardano Founder Threatens Lawsuit Over 318 Million ADA Seizure Claims
Cardano founder Charles Hoskinson is preparing to take legal steps against individuals alleging that he manipulated the blockchain to take control of 318 million ADA tokens. The accusations, which recently emerged on the social media platform X, suggest he used his Genesis keys in 2021 to seize funds belonging to early investors. Last week, NFT artist Masato Alexander claimed that during the Cardano 'Allegra' hard fork, the network overwrote certain unspent token allocations from the original token sale. It then rerouted those tokens to Cardano's reserves. 'In 2021, the Cardano 'Allegra' Hard Fork (HF) wasn't just a routine upgrade. It contained an extra payload. This HF effectively ERASED the original ICO UTxOs holding the ₳318M and swept the funds into the Cardano reserves,' Alexander wrote. Alexander claimed that although they intended to reissue the funds to their rightful owners, they allegedly withheld a large portion. He further claimed that only a small percentage of the tokens funded Intersect, a Cardano governance initiative. Most of the tokens, he alleged, were staked to generate an estimated 25 million ADA in additional rewards. 'Only a tiny fraction went to Intersect… Where did the VAST majority of that ₳318 MILLION actually go after being moved from reserves? Separately, the funds were staked, earning 25m additional,' Alexander alleged. In addition, Alexander criticized the lack of clear documentation on the fund's path, suggesting there is no verifiable audit trail. Ironically, Charles recently emphasized needing community input for scaling solutions, citing the importance of governance. Yet, when ₳318M was at stake, he acted unilaterally via genesis keys to alter the ledger and control these funds. Interesting. — masato_alexander (@masatoalexander) May 7, 2025 However, Hoskinson has strongly rejected the allegations. In a response posted to X, he described the claims as 'lies' and clarified that the ADA vouchers became unspendable following the Allegra hard fork. The Cardano founder explained that these assets were transferred to a custodial account managed by the Token Generation Event (TGE). This account continued processing redemptions for three years. 'The Ada vouchers became unspendable after the hard fork. They were rolled into a custodial account controlled by the TGE that then continued redemption for 3 more years to distribute the genesis funds to the original buyers,' he said. Hoskinson stated that original buyers eventually claimed 99.8% of the ADA sold during the ICO. He added that the team allocated only 0.2% of the tokens to fund Intersect. 'After seven years, the remaining 0.2 percent were returned to the TGE and donated to Intersect through the same process that funded the Cardano Foundation,' he added. While the Cardano team has not released a full public report, Hoskinson noted that the redemption process is still ongoing. He warned that he will sue Alexander and others who repeat the claims if they keep alleging that Input Output Global stole funds.
Yahoo
06-03-2025
- Yahoo
Community shares condolences after two Allentown artists found dead in home
BUFFALO, N.Y. (WIVB) — The community shared an outpouring of condolences on Wednesday after prominent Allentown artists Michael 'Mickey' Harmon, 40, and Jordan Celotto, 37, were found dead in their residence Tuesday afternoon. Those that knew the couple best said nothing can compare to their commitment to making Allentown and Buffalo a brighter place where all are welcome. 'I refuse to allow Mickey and Jordan's memory to be attached to these heinous crimes,' said Buffalo Common Council Member Mitch Nowakowski. 'I want everybody to know that these people were artists, people of the Allentown community, who made it better.' The tangible evidence of how Harmon and Celotto impacted the Allentown community is everywhere. When taking a walk through the town, residents can see Harmon's 'Stonewall Nation Mural' and 'Charity,' a piece made for fFriends of the Night People, among others. However, speaking to those who knew the pair best, it's what they provided away from the canvas they'll remember the most. 'Within the LGBTQ community locally, I don't think there's a single organization that I know of that hasn't personally benefited from the blood, sweat and mentorship of Mickey Harmon over the past few years,' said Jack Kavanaugh, the executive director of Growing LGBTQ+ Youth Support (GLYS) Western New York. 'Mickey had boundless energy. I don't think he ever sat down, ever,' said Jonathan White, the Allentown Association's communications director. 'Jordan was quiet. He was more thoughtful, he was more balanced, and together, they made things happen.' 'There's nothing in Allentown and there's nothing in downtown Buffalo that you can go to that one of them hasn't touched,' said Michael Moch, co-owner of the 26 bar in Allentown. Since 2017, Harmon has been a member of the Allentown Association. White said the couple had a hand in everything. 'Everyone says a fierce champion and I think that is a good description of it, as was Jordan of the LGBTQ community,' White said. 'He brought the Intersect event into Allentown every year. He worked with the Pride Center on doing a pride event that was sponsored by the association, but Mickey did all the work.' Kavanaugh said the duo would also be around the community helping with various fundraising events. 'It's a really small community, so all of us have multiple relationships with everyone and I think sometimes that can be hard to navigate,' Kavanaugh said. 'He was always just just willing to show up and provide that level of support and mentorship that sometimes can be hard to find for younger members of the community.' Besides art, Celotto also worked as a bartender at Remedy House. The cafe said in a post that they were better for knowing Jordan and thanked him for everything. Harmon and Celotto also helped host events and DJ at the bar, 26, in Allentown. Moch said the bar wouldn't be there without them. 'When we first opened this place, Mickey was one of the first people that came to us,' Moch said. 'Kind of helped us find our place and what our role is in the LGBTQ community in Buffalo. It went beyond just this community. They were for a better Buffalo.' Harmon was scheduled to appear on News 4's Daytime Buffalo Wednesday to promote Queertopia, an event at Nietzsche's this weekend. Organizers said the show will go on as planned, using it as a platform to bring together neighbors to remember and celebrate the pair. Dillon Morello is a reporter from Pittsburgh who has been part of the News 4 team since September of 2023. See more of his work here and follow him on Twitter. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
