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Arevon Energy, Inc., a leading American energy developer, owner, and operator, commemorated construction proceedings at a milestone celebration event for its Nighthawk Energy Storage Project in Poway, California. The 300 megawatt (MW)/1,200 megawatt-hour project will be able to power up to 385,000 homes during the peak electricity demand periods for four hours each day.

Arevon developed and will own and operate the $600 million Nighthawk Energy Storage Project. Over the life of the project, Nighthawk is expected to disburse more than $30 million in local government payments to the county and surrounding area, which can support infrastructure improvements, schools, and public services. The city of Poway will receive an estimated $12 million of this total. California-headquartered Rosendin is building the project on behalf of Arevon, which is anticipated to employ more than 130 workers during the height of construction and will result in an increase in economic activity in the area, especially at local stores, restaurants, and hotels.

In 2021, Arevon signed a long-term contract under which Nighthawk will provide energy and resource adequacy to Pacific Gas and Electric Company (PG&E). The project will connect to the grid at the Sycamore Canyon Substation located on the Marine Corps Air Station (MCAS) Miramar, which distributes energy to the greater San Diego area. 

Utility-scale battery systems allow electricity to be stored during low demand periods and then efficiently discharged onto the grid — responding quickly at high demand and vital periods, with projects strategically located on the transmission system to reduce the risk of brownouts and blackouts. Nighthawk Energy Storage will feature modern lithium iron phosphate batteries which are the safest technology on the market. Arevon’s number one priority is the safety of those who live and work in its project areas, and the company is proud to have safely operated its energy storage facilities in U.S. communities since 2021.

“What sets the Nighthawk Energy Storage Project apart is Arevon’s years of experience and proven track record in successfully developing safe, reliable renewable energy and battery storage projects in California and throughout the United States as well as the project’s design, which includes added safety measures and will comprise the safest and most advanced batteries on the market today. In addition, Arevon has partnered with the Poway Fire Department, who is committed to protecting the community, first responders, and the facility in the unlikely event an incident occurs,” said Kevin Smith, Chief Executive Officer at Arevon. “Battery storage is the way of the future, and Arevon is pleased to bring this essential energy solution to Poway, where we are committed to being a great community partner through the project’s multi-decade life.”

As the long-term owner of the Nighthawk Energy Storage Project, Arevon is committed to supporting the local community and its worthy initiatives and has engaged with the following organizations: 

·       City of Poway, establishment of a $2 million community fund which will be utilized by the City for its choice of public or community project(s)

·       Scripps Ranch Civic Association, going toward the community advocacy organization’s public safety programs, community events, and their bid for 501(c)(3) status

·       Rancho Family YMCA, support of programs focused on youth development, healthy living, and social responsibility

·       Deputy Sheriffs’ Association of San Diego County, sponsor of the Police Softball Western Regional Championship Benefit Event and the annual Softball World Series Game

·       Poway Chamber of Commerce, member of the organization and backer of the 2024 Poway Fall Festival and 2025 Business Star Awards

·       North County Special Needs Foundation, sponsor of the 10th annual Heroes Softball Game with Poway firefighters and Special Olympic softball players in support of individuals with special needs

·       Climate Action Campaign, sponsor of the 2024 Nexus Climate Summit 

• Cleantech San Diego, member of the business association, a nonprofit that supports the cleantech economy

Arevon is a nationwide renewable energy developer and a leader in California with more than 3.2 gigawatts in operation and more than 800 MW under construction in the state. The company recently issued other announcements celebrating achievements at several of its California projects, including the start of operations at its Peregrine Energy Storage Project, its Eland 1 Solar-plus-Storage Project, its Vikings Solar-plus-Storage Project, and its Condor Energy Storage Project. Arevon also announced offtake agreements for its Cormorant Energy Storage Project and its Avocet Energy Storage Project and closed financing on its Eland 2 Solar-plus-Storage Project. Condor Energy Storage in Grand Terrace received the North America Storage Deal of the Year Award, and Vikings Solar-plus-Storage in Imperial County was the recipient of IJGlobal’s Renewables Deal of the Year – Energy Storage Award.

Arevon | arevonenergy.com

Wright Energy Storage Technologies (WEST) announced a strategic partnership with Hystream Yachts, a luxury marine company redefining ocean cruising through clean innovation. Hystream Yachts has integrated WEST’s non-chemical, supercapacitor-based energy storage modules into its next-generation electric yachts, ushering in a new chapter of cleaner, quieter, and safer sea travel. 

Hystream Yachts offers seamless electric propulsion, onboard hydrogen generation, and zero-emissions for long-distance cruising. By integrating WEST’s energy storage solution  into its onboard electric systems, Hystream Yachts is eliminating reliance on hazardous lithium-ion batteries, introducing a safer and smarter solution to its marine customers. The partnership expands the possibilities of sustainable yachting through reliable, fast-charging energy storage built for the demands of open water. 

“We are extremely excited to be providing energy storage solutions in the marine space in partnership with Hystream Yachts. WEST’s energy storage products are well-suited to the stringent requirements of an industry that is especially sensitive to safety requirements.” Chip Seibert, CEO, WEST

Unlike conventional electrochemical batteries that carry a fire risk and degrade in harsh marine environments, WEST’s electrostatic modules offer unmatched durability and safety. With reliable performance even in extreme temperatures and requiring virtually no maintenance, WEST’s technology is ideally suited for marine propulsion and onboard energy systems. 

“At Hystream Yachts, we’re proud to partner with WEST to integrate their advanced supercapacitor energy storage systems into our hydrogen-electric catamarans. Seamlessly integrated with our advanced energy management systems, WEST’s technology raises the bar for safety, efficiency, and sustainable luxury for our customers.” Chris Crane, CEO & Co-Founder, Hystream Yachts

These benefits are backed by an industry-leading product warranty, ensuring long-term performance and reliability - voyage after voyage.

WEST | https://wrightenergystorage.com/

Hystream | https://www.hystreamyachts.com/

nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, announced strong financial results for the second quarter of 2025 and provided guidance for the third quarter and full-year 2025. The second quarter performance included strong double-digit growth in orders and sales, more than a four-fold increase in backlog, growth in all key geographic regions and strong contribution from new products year-over-year.

“Our portfolio transformation to become a more focused, higher growth electrical connection and protection leader is delivering results and accelerating our growth. We had an outstanding quarter, and I am very proud of the many accomplishments by our team,” said nVent Chair and Chief Executive Officer Beth Wozniak.

“The Trachte and Electrical Products Group acquisitions performed better than expected, further strengthening our position in the high growth infrastructure vertical, including power utilities, data centers and renewables. Our teams are doing outstanding work executing on our integration playbook and accelerating our growth synergies. We are raising our full-year sales and updating our EPS guidance to reflect our terrific second quarter performance and our increasing momentum in data centers and power utilities.”

Reported sales in the second quarter totaled $963 million. This performance represents an increase of 30 percent. Organically, sales grew 9 percent, which excludes the impact from acquisitions and currency fluctuations.

Second quarter 2025 earnings per diluted share (“EPS”) from continuing operations were $0.65, up 18 percent, while on an adjusted basis, the company had EPS from continuing operations of $0.86, up 28 percent. Adjusted EPS, adjusted operating income, adjusted net income and free cash flow are non-GAAP financial measures described in the attached Non-GAAP Financial Measures section of this press release.

Second quarter 2025 operating income was $157 million, up 8 percent, compared to $145 million in the second quarter of 2024. Adjusted operating income was $200 million, up 18 percent, compared to $169 million in the second quarter of 2024.

nVent had net cash provided by operating activities of continuing operations of $91 million in the second quarter compared to $117 million in the second quarter of 2024. Free cash flow generated was $74 million in the second quarter compared to $101 million in the second quarter of 2024.

GUIDANCE FOR FULL-YEAR AND THIRD QUARTER 2025

The company now estimates reported sales growth for full-year 2025 of 24 to 26 percent versus prior guidance of 19 to 21 percent. This new guidance range represents 8 to 10 percent organic sales growth versus prior guidance of 5 to 7 percent. The company now expects full-year 2025 EPS of $2.48 to $2.56 on a GAAP basis and adjusted EPS of $3.22 to $3.30, versus prior guidance of $2.48 to $2.58 on a GAAP basis and adjusted EPS of $3.03 to $3.13.

The company estimates third quarter 2025 reported sales growth of 27 to 29 percent and organic sales growth of 11 to 13 percent. The company estimates third quarter 2025 EPS on a GAAP basis of $0.67 to $0.69 and adjusted EPS of $0.86 to $0.88.

DIVIDENDS

nVent previously announced on May 16, 2025 that its Board of Directors approved a regular cash dividend of $0.20 per share, payable during the third quarter on August 1, 2025.

EARNINGS CONFERENCE CALL

nVent’s management team will discuss the company’s second quarter performance on a conference call with analysts and investors at 9:00 a.m. ET today. A live audio webcast of the conference call and materials will be available through the “Investor Relations” section of the company’s website (http://investors.nvent.com). To participate, please dial 1-833-630-1071 or 1-412-317-1832 approximately ten minutes before the 9:00 a.m. ET start.

A replay of the conference call will be made accessible once it becomes available and will remain accessible through August 15, 2025 by dialing 1-877-344-7529 or 1-412-317-0088, along with the access code 1818589.

nVent Electric | https://www.nvent.com/en-us/

Peak Energy, a U.S.-based company developing low-cost, giga-scale energy storage technology for the grid, announced the launch and shipment of its sodium-ion battery energy storage system (ESS) that delivers a patent-pending passive cooling design to dramatically reduce lifetime energy costs. With this milestone, Peak Energy removes the components implicated in the vast majority of battery storage system fires analyzed by independent third party reports. Cost-competitive with state of the industry products while offering dramatically lower operating and maintenance costs, Peak Energy's product is the first ever fully passive megawatt-hour scale battery storage system, the largest sodium-ion phosphate pyrophosphate (NFPP) battery system in the world, and the first grid-scale sodium-ion storage solution ever deployed to the U.S. electric grid. Deploying the system in a shared pilot with nine leading utility and independent power producer (IPP) customers this summer, Peak Energy is fast-tracking its promise to onshore battery manufacturing.

With a design that eliminates all moving parts, including active cooling and ventilation components, Peak Energy's NFPP grid storage battery architecture completely eliminates the most common failure modes in typical battery storage systems, dramatically increasing reliability and reducing operating and maintenance costs. Peak Energy's NFPP grid storage system marks a landmark shift in America's burgeoning energy storage business by capitalizing on the advantages of sodium-ion batteries to build a more reliable and lower-cost solution. Sodium-ion is poised to win the storage market as its chemistry allows operations at a wide range of hot and cold temperatures without requiring auxiliary cooling systems. This innovation is a first-of-its-kind development in grid-scale energy storage as incumbent lithium-ion technologies require active cooling and ventilation systems to preserve cell life and prevent fires. Passive cooling allows Peak Energy to offer massive lifetime cost-savings compared to current market-leading systems by eliminating several of the most-likely-to-break components in today's grid storage products.

Peak's grid-scale battery storage solution arrives at a decisive moment for the evolution of the American energy industry. Recent changes to federal policies have elevated the urgency to develop domestic energy supply chains and manufacturing capabilities. These policy forces, coupled with skyrocketing energy demand in the U.S., are proving battery storage to be essential for improving grid resilience and reducing energy costs. Incumbent solutions are complex, pose significant fire risks, and are more costly to build, operate, and maintain for grid applications. In addition to its performance benefits, sodium-ion presents the United States' best opportunity to lead in battery chemistries due to the country's natural advantage in raw materials. The United States holds the world's largest reserves of soda ash, the mineral precursor to sodium-ion, and the full raw material supply chain for sodium-ion can be sourced domestically or from allied nations.

"We see energy storage not only as an economic imperative, but also as a national security priority. Time is of the essence if the U.S. wants to take ownership and maintain control of its energy future," said Landon Mossburg, CEO and Co-Founder at Peak Energy. "We are committed to onshoring the manufacturing of this critical industry, and this launch proves our ability to execute quickly on our vision to establish the U.S. as a global leader in battery manufacturing."

Peak Energy has conducted extensive performance testing of its ESS, where the results indicate record-level cost-savings and reliability for the industry. This includes:

• At least $1 million in annual operational cost savings per gigawatt hour installed, representing up to 90% reduction in auxiliary power use
• Approximately 20% in lifetime cost savings vs. LFP in an average deployment
• 33% reduction in battery degradation over a 20-year project lifespan

"This isn't just another product launch – it's a breakthrough in energy storage," said Paul Durkee, VP of Engineering at Peak Energy. "We've taken a very stable chemistry and invested its benefits back into our passive cooling architecture. The system is dead-simple with no moving parts, no planned maintenance and negligible aux loads. It's the lowest total-cost grid storage technology to be deployed anywhere in the world. I'm incredibly proud of the creativity and grit our team has shown in bringing our vision to life."

Peak Energy's pilot marks a significant first step in commercializing sodium-ion battery storage in the United States and unlocks nearly 1GWh of future commercial contracts currently under negotiation. Following the pilot, Peak Energy will deploy several hundred megawatt hours of commercial-scale storage products to serve multiple IPP and hyperscaler partners over the next two years, with further announcements anticipated this fall. Peak Energy is on track to fulfill its commitment to develop grid scale battery supply chains, with its first U.S. cell factory under development and planned to start production in 2026. This news comes just one year after Peak raised its $55M Series A and less than two years since launching from stealth in 2023.

Peak Energy | www.peakenergy.com

CPS Energy has issued a request for proposal (RFP) to acquire up to 400 megawatts (MW) of wind energy through one or more Power Purchase Agreements (PPAs). This initiative is part of the utility's Vision 2027 generation plan to address the increasing energy needs for the growing community. The RFP marks the first time in over a decade that CPS Energy has specifically sought proposals for wind projects. CPS Energy's target to contract up to 400 MW of wind capacity would bring the utility's total wind generation to 1,467 MW.

"Increasing wind capacity is good for customers and strengthens our diverse and sustainable energy portfolio," said President and CEO of CPS Energy Rudy D. Garza. "While it can't replace baseload sources like natural gas and nuclear, wind energy is crucial to balance our grid demands. This is the reason why we have a comprehensive approach to our generation mix."

CPS Energy currently has approximately 1,067 MW of wind generation in its portfolio, maintaining its position as the second-largest buyer of wind energy in the state. This latest solicitation follows CPS Energy's recent announcement of an agreement with Avangrid to add an additional 160.8 MW of wind to its existing portfolio.

The utility's RFP supports CPS Energy's Vision 2027 plan, which contemplates the retirement of 2,541 MW of older generation capacity before 2030. As part of this future generation plan, since 2023, CPS Energy has added 1,735 MW of natural gas, 113 MW of wind capacity, 480 MW of solar, and 50 MW of energy storage. It has another 254 MW of solar and 470 MW of energy storage under contract.

These efforts also align with CPS Energy's commitment to the City of San Antonio's Climate Action & Adaptation Plan (CAAP), which includes a Board of Trustees resolution to support the CAAP's goal to become carbon neutral by 2050 with interim goals of reducing greenhouse gas 71% by 2040.

CPS Energy will be accepting proposals for projects 20 MW and greater in capacity. The deadline for interested bidders to submit a proposal is Friday, August 29, 2025, by 5 p.m. Central Time.

Submissions must be made using the Power Advocate Portal link.

CPS Energy | https://www.cpsenergy.com/

Franklin Electric Co., Inc. (NASDAQ: FELE) announced that Jennifer Wolfenbarger has been appointed Chief Financial Officer (CFO) and Chief Accounting Officer. As a core member of the executive leadership team, Wolfenbarger will help shape the company’s financial future by enabling growth and overseeing fiscal accountability for the entire organization.

Wolfenbarger has served in divisional CFO roles at some of the country’s most recognizable and growth-minded manufacturing companies, including Caterpillar, Stryker and most recently Owens Corning. In her role at Owens Corning, Wolfenbarger oversaw strategic planning, investor relations, compliance and financial reporting for the company’s $4 billion global insulation business. This included 50 manufacturing and distribution sites around the world.

“Jennifer’s experience is exceptional, and we could not have selected a more well-rounded and dynamic candidate to fill this position,” said Joe Ruzynski, CEO of Franklin Electric. “She is value-driven to the core, and her passion for implementing continuous improvement will be an incredible asset to our people, our shareholders and our customers.”

Throughout Wolfenbarger’s career, she has lent her financial expertise to her community, serving as the Treasurer on three not-for-profit boards. While at Owens Corning, she was the executive sponsor for the company’s Latin America Women’s Initiative Network, and she often mentors at Indiana University’s Kelley School of Business, providing professional guidance. Her career has taken her to the United Kingdom, Brazil, the Netherlands, Maryland, Michigan, South Carolina, Georgia, Illinois and Ohio. She is excited to be returning to her Indiana roots in her new role and will be relocating to the Fort Wayne area.

“This is an incredible opportunity to support Franklin Electric’s commitment to growth and innovation,” said Wolfenbarger. “I’m thrilled to work alongside a highly talented and dedicated global team that values collaboration, teamwork, growth and development.”

Franklin Electric | https://www.franklin-electric.com/

Zenobē, the UK’s leading owner and operator of grid-scale battery storage, has announced plans for The Shetland Standby Project, a 68MW battery energy storage system (BESS) in Lerwick in Shetland.

This pioneering battery solution will be the crucial next step in connecting Shetland’s distribution network to the mainland grid and it will maintain security of supply for Shetland’s homes and businesses with reduced emissions. It will allow Lerwick Power Station to operate in standby only, thus cutting emissions and utilising more renewables on the islands.

The Shetland Standby Project is scheduled to go live in 2026 and will have advanced technology like grid-forming inverters and AC choppers. The use of an AC chopper is an innovative step toward strengthening the grid, as it helps absorb excess wind power during shutdowns.

Zenobē has secured c.£60m of non-recourse project finance debt from leading energy transition lenders Natwest, Lloyds and Siemens to fund the buildout of the project.

The site marks another milestone in Zenobē’s Scottish battery portfolio, which now includes over 1.2GW of capacity either live or under construction – supporting the UK Government’s mission to achieve a decarbonised power grid by 2030.

Following a regulated tender process, SSEN Distribution appointed Zenobē to provide this service due to their technical battery expertise, including launching Europe’s largest battery in March 2025 at Blackhillock, Moray in the north east of Scotland, the first in the world to provide stability services.

Commenting, Zenobē Founder Director James Basden said: “This project combines a battery with an AC chopper in Shetland to maintain security of supply, ensuring homes and businesses continue to receive the power they need in the event of a transmission system outage, while reducing emissions and utilising more renewables in Shetland.

“It marks an important step in the islands’ transition to a clean and resilient energy system and we’re proud to bring our battery expertise to a project that will reduce reliance on fossil fuels on the island network.”

Commenting, SSEN Distribution’s Project Manager Nathan Coote said: “We’ve long been committed to delivering a sustainable, whole system solution to decarbonise Shetland’s grid while maintaining security of supply.

“This standby project, once completed, will mean that communities in Shetland will have the reassurance that during a planned outage, or in the event of there being a temporary issue with Shetland’s connection to mainland Scotland, power to homes and businesses will be maintained seamlessly, with the battery providing supply while Lerwick Power Station is safely brought out of standby.”

Zenobē | https://www.zenobe.com/

Scottish and Southern Electricity Networks (SSEN) Distribution | https://www.ssen.co.uk/