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Heliogen, Inc. Schedules Release Of Second Quarter 2023 Financial Results And Conference Call
July, 26, 2023
https://investors.heliogen.com/news/news-details/2023/Heliogen-Inc.-Schedules-Release-of-Second-Quarter-2023-Financial-Results-and-Conference-Call/default.aspx
PASADENA, Calif.--(BUSINESS WIRE)-- Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy, today announced that it will release financial and operating results for the second quarter 2023 after the market close on Tuesday, August 8, 2023. This release will be followed by a conference call for investors at 10:00 AM EDT on Wednesday, August 9. Christie Obiaya, Heliogen’s Chief Executive Officer and Sagar Kurada, Chief Financial Officer, will host the call.
The conference call may be accessed via a live webcast on a listen-only basis in the Investors section of Heliogen’s website at investors.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-407-0789 (1-201-689-8562 for international callers) and referencing Heliogen.
A replay of the webcast will be available shortly after the call on the Investors section of Heliogen’s website.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Heliogen Investors:
Louis Baltimore
VP, Strategic Finance & Investor Relations
Louis.Baltimore@heliogen.com
Heliogen Media:
Cory Ziskind
ICR, Inc.
HeliogenPR@icrinc.com
Repost from Stocktwits ADN board, courtesy of jjgrey05.
ADN = 48.8 million MC ($0.92) O/S = 53,097,236
HLGN = 57.9 million MC ($0.29) O/S = 196,847,953
HYZN = 396.26 million MC ($1.62) O/S = 244,599,212
FCEL = 919.28 million MC ($2.26) O/S = 406,760,629
NKLA = 1.74 billion MC ($2.50) O/S = 694,091,215
PLUG = 7.44 billion MC ($12.39) O/S = 600,536,746
Revenues based on SEC filings
ADN 2022 rev: $7,837,000
HGLN 2022 rev: $13,751,000 (7,232,000 was grant revenue)
HYZN 2022 rev: $3,726,000
FCEL 2022 rev: $130,484,000
NKLA 2022 rev: $50,825,000
PLUG 2022 rev: $701,440,000
ADN 2023 EST rev: $8,300,000 (w/o Green HiPo)
HGLN 2023 EST rev: $14,500,000
HYZN 2023 EST rev: $6,000,000
FCEL 2023 EST rev: $165,419,000
NKLA 2023 EST rev: $78,117,000
PLUG 2023 EST rev: $870,826,000
Based on Est 2023 rev:
ADN: trading 6x
HLGN: trading 4x
NKLA: trading 23x
HYZN: trading 65.5x
FCEL: trading 5.6x
PLUG: trading 8.5x
Thank you I appreciate the heads up.
Mr H, welcome to the Heliogen board. Relevant quotes from the following article, dated Feb 8, 2023.
https://www.bizjournals.com/losangeles/news/2023/02/07/heliogen-cfo-christie-obiaya-named-ceo.html
Renewable solar energy company Heliogen Inc. has a new leader in charge after its board of directors appointed Christie Obiaya as chief executive officer, following conflict with the company's founder and former CEO.
Gross announced his decision to step down as CEO to Heliogen's board last year, recommending an unidentified candidate from outside the company to step into the role of president before moving up to CEO after a six-month period, Gross said in his resignation letter to the board. Gross wrote that the board of directors approved and nominated his candidate, but senior management at Heliogen objected, as several members "threatened to quit." Gross said that the board supported the existing management team, promoting Obiaya.
In response, Heliogen's board of directors said in a statement that it did not nominate Gross' candidate during the process, determining that it was in Heliogen's "best interests" to promote a internal candidate that was "intimately familiar" with the company’s technology, customers and the board’s priorities.
Sir can you tell me. What happened to Bill Gross? Wasn’t he the founder of this company? Did the board force him out?
Heliogen Appoints Sagar Kurada as Chief Financial Officer and Head of Strategy
July 10 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/91536382/heliogen-appoints-sagar-kurada-as-chief-financial
Key excerpts:
Mr. Kurada brings more than two decades of experience and expertise in industrial decarbonization and renewable energy with a proven track record of developing and implementing financial growth strategies for disruptive sustainability-driven companies. In his role at Heliogen, he will work closely with the Company’s management team, board of directors, and the recently announced Corporate Strategy Committee to lead the finance organization, drive business growth, and execute on the Company’s mission of industrial decarbonization.
Prior to joining Heliogen, Mr. Kurada served as Chief Financial Officer at Newlight Technologies, Inc., a privately held biotechnology company converting air and greenhouse gas into biomaterials, where he led initiatives around the company’s financial, operations, growth planning, and market responsiveness strategies. Previously, he served as Chief Financial Officer of Eos Energy Enterprises, Inc. (Nasdaq: EOSE), a leading provider of long duration energy storage systems, where he oversaw Eos’ entry to public markets and led the company’s finance organization including accounting and controllership, financial planning and analysis, tax, investor relations, and treasury. Prior to joining Eos, Mr. Kurada held Chief Financial Officer roles with HighTower Advisors and in multiple GE operating entities, and he also worked in the private equity consulting practice at FCM. He has led multiple significant equity and debt financing rounds to support business growth. Mr. Kurada holds a Bachelor of Science from Rensselaer Polytechnic Institute and an MBA from Columbia Business School.
“Heliogen is at the forefront of solving the critical challenge of providing affordable, reliable clean energy to industry through deployment of their innovative concentrating solar thermal energy technology, and I am excited to join at a time of significant opportunity for the company,” said Mr. Kurada. “Christie and the entire Heliogen team have made significant commercial progress in recent months. I look forward to working alongside this driven group of individuals on the company’s mission to help industry achieve net zero emissions and execute its global growth strategy.”
Green hydrogen market to grow six-fold to $1.4 trillion, said Deloitte
By 2050, the practice of using renewable energy to electrolyze water and create hydrogen fuel may reach a global market of well over $1 trillion USD.
JUNE 13, 2023 RYAN KENNEDY
https://pv-magazine-usa.com/2023/06/13/green-hydrogen-market-to-grow-six-fold-to-1-4-trillion-said-deloitte/
Rocks: The Unexpected Powerhouse of Sustainable Solar Energy Storage
June 11, 2023
https://scitechdaily.com/rocks-the-unexpected-powerhouse-of-sustainable-solar-energy-storage/
Proxy Statement - Notice of Shareholders Meeting (preliminary) (pre 14a)
June 07 2023 - 05:11PM
Edgar (US Regulatory)
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/91273008/proxy-statement-notice-of-shareholders-meeting-p
Heliogen and the City of Lancaster Advance Hydrogen Economy Through the City’s First Green Hydrogen Contract to Fuel Municipal Fleet
June 06 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/91254780/heliogen-and-the-city-of-lancaster-advance-hydroge
Collaboration to decarbonize America’s “First Hydrogen City” through Heliogen’s patented breakthrough CST technology
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today announced the execution of a definitive contract with The City of Lancaster, California (“The City” or “Lancaster”) to produce green hydrogen to be purchased by Lancaster for the city’s growing green hydrogen fuel needs. The partnership represents Lancaster’s first hydrogen offtake agreement.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230606005500/en/
The green hydrogen will be produced at Heliogen’s Proxima hydrogen facility in Lancaster and will leverage Heliogen’s innovative technology using AI and advanced computer vision software to concentrate sunlight with mirrors, producing carbon-free hydrogen with significant economic development potential. As part of the agreement, Heliogen will provide green hydrogen to the City and will certify its carbon intensity, a measure of the CO2 emitted per kilogram of hydrogen produced. Proxima could ultimately help support other projects within the city and region, including sustainable aviation fuel, and sales and distribution of hydrogen fuel for industrial processes such as long-haul trucking, cement, and mining.
The agreement between Heliogen and Lancaster builds upon the previously announced MOU between the parties to establish a clean hydrogen generation facility, and is expected to contract hydrogen conforming to SAE J2719 hydrogen fuel cell vehicle specifications at a $10/kg offtake price. The wholesale-level price represents significant cost savings for the city amid rapidly increasing prices at hydrogen filling stations across California, with the average hydrogen pump price reaching an all-time high of $21.28/kg in November 2022, according to data provided to Hydrogen Insight by S&P Global Commodity Insights.
The collaboration furthers the City’s vision to become a model and leader for hydrogen as a clean, alternative energy source for municipalities. Lancaster, the nation’s first city to embrace hydrogen power, is an inaugural winner of the U.S. Department of Energy’s H2 Twin Cities Initiative.
“We are excited to advance our strategic relationship with The City of Lancaster and support its needs for green hydrogen fuel at scale,” said Christie Obiaya, Chief Executive Officer at Heliogen. “This agreement underscores the incredible potential to rapidly develop and commercialize green hydrogen as a key pathway for a decarbonized economy. I am proud of the Heliogen team for its work to demonstrate the value of our patented breakthrough technology to produce cost-effective green hydrogen, which will accelerate adoption of this critical, multi-use form of clean fuel all over the world.”
“As America’s first hydrogen city, Lancaster is proud to pioneer innovative solutions to drive change and decarbonize our economy,” said R. Rex Parris, Mayor, City of Lancaster. “Heliogen’s unique ability to create carbon-free hydrogen holds immense promise to fuel our municipal fleet at the lowest carbon intensity. Hydrogen is the future and we invite other cities to join us on the path to decarbonization as a way to tackle climate change.”
Heliogen has completed preliminary configuration designs and secured a site for Proxima.
ABOUT HELIOGEN
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com
ABOUT THE CITY OF LANCASTER
Lancaster is a diverse community of nearly 170,000, leading the future through science, technology, art, culture, and collaboration. Home to astronauts, rocket scientists, families, and innovative businesses large and small, we are leading the USA with innovation. Combined with spectacular landscapes and clean air, Lancaster has the confidence, expertise, spirit, and imagination to transform tomorrow. We are: Creating a better tomorrow. Together. Visit us at www.cityoflancasterca.gov.
The City of Lancaster, California, was the first United States city to embrace hydrogen power, earning the moniker of the "First Hydrogen City." The City has engaged in numerous formal partnerships and agreements to harness the potential of clean hydrogen. Lancaster is jumpstarting hydrogen adoption throughout the Antelope Valley and southern California.
DOE is Advancing Heliostat Technologies…New Prize & Selected Research Projects
DOE Office of Energy Efficiency and Renewable Energy sent this bulletin at 06/01/2023
https://content.govdelivery.com/accounts/USEERE/bulletins/3599453
Link to Q1 2023 Earnings Presentation https://s202.q4cdn.com/554461737/files/doc_presentations/_HLGN-1Q23-earnings-presentation.pdf
Heliogen, Inc. Announces First Quarter 2023 Financial and Operational Results
May 09 2023 - 04:13PM
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/91005815/heliogen-inc-announces-first-quarter-2023-financ
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today provided its first quarter 2023 financial and operational results.
Recent Highlights
- Began high-volume automated heliostat production at Heliogen’s manufacturing facility in Long Beach, CA
First Quarter 2023 Highlights
- Entered into an agreement to provide front-end concept design and R&D engineering services
- Completed the preliminary design and secured a site for the “Proxima” green hydrogen project in Lancaster, CA
- Implemented cost reduction program to streamline operations and extend liquidity runway
- Following the leadership transition of Heliogen’s CEO in February 2023, announced Strategic Plan and formed - Board-level Corporate Strategy Committee to oversee the implementation of Heliogen’s long-term strategic plan and specific strategic initiatives
Executive Commentary
“During the first quarter of 2023, we embraced a new chapter of growth and resilience at Heliogen. After introducing our strategic initiatives aimed at delivering significant value to our shareholders and customers, we devised our cost reduction program and began to implement it at the end of March,” said Christie Obiaya, Heliogen’s Chief Executive Officer.
Ms. Obiaya continued, “We are committed to accelerating our sales and establishing stronger relationships with our commercial partners, as well as leveraging research and development opportunities that validate important applications for decarbonization. Our focus on perfecting our product-market fit, expediting the deployment of large-scale projects, and ensuring financial stability will help drive Heliogen’s success in the coming quarters. In a short time, we have made great progress on our strategic initiatives, and we will continue to forge ahead with determination to deliver on the promise of our groundbreaking technology.”
First Quarter 2023 Financial Results
For the first quarter 2023, Heliogen reported total revenue of $1.9 million and net loss of $10.5 million. Heliogen’s net loss in the fourth quarter 2022 was $35.0 million. The change in net loss for the first quarter 2023 compared to the fourth quarter 2022 was driven primarily by a non-cash reduction of share-based compensation expense of $17.5 million and a $6.6 million decrease of R&D expenses. Heliogen’s Adjusted EBITDA was negative $17.8 million for first quarter 2023.
Conference Call Information
The Heliogen management team will host a conference call to discuss its first quarter 2023 financial results on Wednesday, May 10, 2023, at 10:00 a.m. EDT. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Heliogen’s website at www.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-300-8521 (1-412-317-6026 for international callers) and referencing Heliogen.
An archive of the webcast will also be available shortly after the call on the Investor Relations section of Heliogen’s website.
Open Conference Call Question Submission
Members of the investor community may submit questions before the start of the conference call for consideration via email to louis.baltimore@heliogen.com.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Heliogen to Participate in Upcoming Institutional Investor Conferences
May 03 2023 - 04:05PM
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90947962/heliogen-to-participate-in-upcoming-institutional
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy, today announced participation in upcoming institutional investor conferences during the second quarter 2023.
As part of Heliogen’s ongoing commitment to engage with the investment community and promote its sustainable energy solutions, Christie Obiaya, Chief Executive Officer, will present at the following conferences:
- Sidoti May Microcap Virtual Conference , May 10 , 4:00 pm
- TD Cowen Sustainability Week, June 7, 10:20 am
Live webcast links and archived replays for both events will be available on the investor relations section of Heliogen’s website at investors.heliogen.com.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Great news from Heliogen partner Bloom Energy.
Bloom Energy Demonstrates Hydrogen Production with the World’s Largest and Most Efficient Solid Oxide Electrolyzer
Wed, May 3, 2023 at 9:15 AM EDT
https://finance.yahoo.com/news/bloom-energy-demonstrates-hydrogen-production-131500893.html
Heliogen, Inc. Schedules Release of First Quarter 2023 Financial Results and Conference Call
April 26 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90866797/heliogen-inc-schedules-release-of-first-quarter
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy, today announced that it will release financial and operating results for the first quarter 2023 after the market close on Tuesday, May 9, 2023. This release will be followed by a conference call for investors at 10:00 AM EDT on Wednesday, May 10. Christie Obiaya, Heliogen’s Chief Executive Officer and Kelly Rosser, Interim Chief Financial Officer, will host the call.
The conference call may be accessed via a live webcast on a listen-only basis in the Investors section of Heliogen’s website at investors.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-300-8521 (1-412-317-6026 for international callers) and referencing Heliogen.
A replay of the webcast will be available shortly after the call on the Investors section of Heliogen’s website.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Heliogen Rejects Unsolicited Acquisition Proposal from Continuum Renewables
April 24 2023 - 04:40PM
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90840634/heliogen-rejects-unsolicited-acquisition-proposal
Heliogen, Inc. (“Heliogen” or the “Company”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today announced that its Board of Directors (the “Board”) rejected the unsolicited, non-binding proposal it received on April 13th from Continuum Renewables, Inc. (“CRI”) to acquire all of the outstanding shares of common stock of Heliogen for cash consideration of $0.40 per share.
After careful consideration and consultation with legal and financial advisors, the Board concluded that the non-binding proposal substantially undervalues Heliogen. In fact, the proposal would result in an implied equity value for Heliogen common stockholders that is materially below Heliogen’s available liquidity. Additionally, the Board concluded that the proposal is subject to material contingencies, including CRI obtaining financing. Accordingly, the Board determined the proposal was not in the best interests of Heliogen and all of its stockholders.
“The Board remains fully committed to Heliogen’s management team and its strategic priorities of increasing sales, installing commercial projects and improving the Company’s financial position,” said Julie Kane, Chair of the Board. “We strongly believe that our new leadership’s execution of this dynamic plan is the best way to drive sustainable long-term value creation for all stockholders and is a superior path compared to CRI’s opportunistic proposal.”
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Podcast Beyond Fossil Fuels: Concentrated Solar Energy’s Potential (Steve Schell, Chief scientist at Heliogen)
Apr 17, 2023
Of particular interest, at minute 18 into the video, Steve Schell talks about a long list of mining industry customers they are currently in discussion with, that they hope to start revealing in the near future.
Current Report Filing (8-k)
April 17 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90778593/current-report-filing-8-k
Found the answer to the question in my previuos post at the following site. https://investguiding-com.ngontinh24.com/articles/what-happens-to-warrants-if-a-company-is-bought-out
Relevant excerpt:
"If it's a merger for shares, the warrants will be adjusted to reflect the share terms of the merger and will continue to trade.
If it's a cash buyout then warrant expiration is accelerated and the warrant will be worth its intrinsic value if in-the-money and worthless if out-of-the-money."
Does anybody know what happens to the warrants in the event of a buyout?
Heliogen Confirms Receipt of Unsolicited, Non-Binding Acquisition Proposal
April 14 2023 - 08:00AM
Business Wire
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90767186/heliogen-confirms-receipt-of-unsolicited-non-bind
Heliogen, Inc. (“Heliogen” or the “Company”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today announced that it has received an unsolicited, non-binding proposal from Continuum Renewables, Inc. (“CRI”) to acquire all of the outstanding shares of common stock of Heliogen for cash consideration of $0.40 per share.
The non-binding proposal states that CRI was co-founded by Bill Gross. Mr. Gross is the former Chief Executive Officer of Heliogen who was terminated by Heliogen in February. The non-binding proposal further states that CRI’s largest investors are Idealab Studio, LLC, an entity affiliated with Mr. Gross, and Prime Movers Lab, which collectively hold, directly or indirectly, approximately 26% of the Company’s outstanding shares. The non-binding proposal is subject to various contingencies, including CRI obtaining financing. Since Mr. Gross’s separation, and as shared during the Company’s March 28, 2023 earnings call, the Company’s new leadership has taken aggressive measures to progress its strategic priorities of increasing sales, installing its first commercial project, and improving the Company’s financial position.
Consistent with its fiduciary duties, Heliogen’s Board will carefully evaluate the non-binding proposal to determine the course of action that it believes is in the best interest of the Company and all Heliogen shareholders and respond appropriately.
Heliogen shareholders do not need to take any action at this time.
Cooley LLP is acting as legal counsel to Heliogen.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Need to increase offer to 5.00,
Absolutely
MORE DEBT. MORE DILUTION.
Near All Time Lows.
What a lousy investment, especially for the current investor/ bag holders.
https://seekingalpha.com/news/3955169-heliogen-announces-150m-mixed-shelf-secondary-offering-of-777m-shares-filing?mailingid=31092475&messageid=2900&serial=31092475.76&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha&utm_term=31092475.76
Apologies for duplicating the previous post on Q4 earnings. When originally posted I was on vacation and was not able to add it to the sticky posts. Since posts older than 48 hours can not be added to sticky posts, I had to repost it.
Heliogen, Inc. Announces Fourth Quarter and Full Year 2022 Financial and Operational Results; Reports Progress on Strategic Initiatives
March 28 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90620318/heliogen-inc-announces-fourth-quarter-and-full-y
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today provided its fourth quarter and full year 2022 financial and operational results.
Recent Highlights
- Completed the preliminary design and secured a site for the “Proxima” green hydrogen project in Lancaster, CA
- Achieved successful accumulation of over 125 hours of operational life and 25 miles travelled on the ChariotAV, Heliogen’s autonomous cleaning vehicle
- Following the leadership transition of Heliogen’s CEO in February 2023, announced Strategic Plan and formed Board-level Corporate Strategy Committee to oversee the implementation of Heliogen’s long-range strategic plan and specific strategic initiatives
Full-Year 2022 Highlights
- Signed full project agreement with Woodside Energy (USA) Inc. (“Woodside”) for the commercial-scale demonstration and deployment of Heliogen’s AI-enabled concentrated solar energy technology; this project will also demonstrate other novel elements through application of Heliogen’s $39 million U.S. Department of Energy (“DOE”) award
- Finalized and executed a lease in the Brenda Solar Energy Zone with U.S. Bureau of Land Management for a green hydrogen production project that is under development
- Successfully performed automated installation of prototype Generation 5 heliostats at Lancaster demonstration facility
- Successfully completed initial field testing of ChariotAV
- Selected to receive an additional $4.1 million award from the DOE to accelerate the large-scale development and deployment of a solar thermal calciner to decarbonize cement production
- Completed the build-out of Heliogen’s automated, high-volume heliostat production facility in Long Beach, CA
Executive Commentary
“Our journey in 2022 was marked by many significant strides forward but also some humbling setbacks. While we made progress on our technical and execution goals, we fell short of our commercial contract goals,” said Christie Obiaya, who in February 2023 was appointed by Heliogen’s Board of Directors to succeed Bill Gross as Heliogen’s Chief Executive Officer.
Ms. Obiaya continued, “Upon stepping into the CEO role last month, I have been taking swift action with a renewed focus on growing sales through improving our product-market fit; on deployment of our commercial scale projects; and on extending our cash runway. We’ve already made meaningful progress on these initiatives, and we will continue to execute on this roadmap.”
Fourth Quarter 2022 Financial Results
For the fourth quarter 2022, Heliogen reported total revenue of $4.7 million and net loss of $35.0 million. Heliogen’s net loss was driven primarily by the growth of Heliogen’s operations to support its commercial-scale demonstration agreement with Woodside, including personnel costs such as a non-cash share-based compensation expense of $8.2 million and a non-cash asset impairment charge of $6.9 million. Heliogen’s Adjusted EBITDA, which excludes the non-cash share-based compensation expense and other impacts, was negative $25.8 million for the fourth quarter 2022.
Full Year 2022 Financial Results
For the full year 2022, Heliogen reported total revenue of $13.8 million and net loss of $142.0 million. Heliogen’s net loss was driven primarily by a non-cash share-based compensation expense of $42.6 million, the recognition of a provision for contract losses of $33.8 million and a non-cash asset impairment charge of $6.9 million, partially offset by non-cash, remeasurement impacts of $13.9 million related to our warrants. Heliogen’s Adjusted EBITDA, which excludes these and other impacts, was negative $81.0 million for full year 2022.
As Heliogen focuses on growing its revenue backlog, progressing its commercial projects and reducing its cost structure, the Company has decided not to issue financial guidance at this time.
Conference Call Information
The Heliogen management team will host a conference call to discuss its fourth quarter and full year 2022 financial results on Wednesday, March 29, 2023, at 10:00 a.m. EDT. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Heliogen’s website at www.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-407-0789 (1-201-689-8562 for international callers) and referencing Heliogen.
An archive of the webcast will also be available shortly after the call on the Investor Relations section of Heliogen’s website.
Open Conference Call Question Submission
Members of the investor community may submit questions before the start of the conference call for consideration via email to louis.baltimore@heliogen.com.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Net loss of 142 million for the full year 2022? Revenue of 14 million?
''Heliogen Transitions to Testing, Secures Contract and Award.''
$HLGN
a leading provider of AI-enabled concentrating solar energy technology
Selected to receive an additional $4.1 million award from the DOE
Mkt cap - 47M
Share Price - 0.245c
cash per share - 0.80c
book value per share - 0.80c
cash - $121.9 MILLION (remember mkt cap Is 47M lmao)
Insiders buying at 0.21c-0.25c as of latest form 4 and 13A
Recent Highlights
•Completed the preliminary design and secured a site for the “Proxima” green hydrogen project in Lancaster, CA
•Achieved successful accumulation of over 125 hours of operational life and 25 miles travelled on the ChariotAV, Heliogen’s autonomous cleaning vehicle
•Following the leadership transition of Heliogen’s CEO in February 2023, announced Strategic Plan and formed Board-level Corporate Strategy Committee to oversee the implementation of Heliogen’s long-range strategic plan and specific strategic initiatives
Heliogen, Inc. Announces Fourth Quarter and Full Year 2022 Financial and Operational Results; Reports Progress on Strategic Initiatives
March 28 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90620318/heliogen-inc-announces-fourth-quarter-and-full-y
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today provided its fourth quarter and full year 2022 financial and operational results.
Recent Highlights
- Completed the preliminary design and secured a site for the “Proxima” green hydrogen project in Lancaster, CA
- Achieved successful accumulation of over 125 hours of operational life and 25 miles travelled on the ChariotAV, Heliogen’s autonomous cleaning vehicle
- Following the leadership transition of Heliogen’s CEO in February 2023, announced Strategic Plan and formed Board-level Corporate Strategy Committee to oversee the implementation of Heliogen’s long-range strategic plan and specific strategic initiatives
Full-Year 2022 Highlights
- Signed full project agreement with Woodside Energy (USA) Inc. (“Woodside”) for the commercial-scale demonstration and deployment of Heliogen’s AI-enabled concentrated solar energy technology; this project will also demonstrate other novel elements through application of Heliogen’s $39 million U.S. Department of Energy (“DOE”) award
- Finalized and executed a lease in the Brenda Solar Energy Zone with U.S. Bureau of Land Management for a green hydrogen production project that is under development
- Successfully performed automated installation of prototype Generation 5 heliostats at Lancaster demonstration facility
- Successfully completed initial field testing of ChariotAV
- Selected to receive an additional $4.1 million award from the DOE to accelerate the large-scale development and deployment of a solar thermal calciner to decarbonize cement production
- Completed the build-out of Heliogen’s automated, high-volume heliostat production facility in Long Beach, CA
Executive Commentary
“Our journey in 2022 was marked by many significant strides forward but also some humbling setbacks. While we made progress on our technical and execution goals, we fell short of our commercial contract goals,” said Christie Obiaya, who in February 2023 was appointed by Heliogen’s Board of Directors to succeed Bill Gross as Heliogen’s Chief Executive Officer.
Ms. Obiaya continued, “Upon stepping into the CEO role last month, I have been taking swift action with a renewed focus on growing sales through improving our product-market fit; on deployment of our commercial scale projects; and on extending our cash runway. We’ve already made meaningful progress on these initiatives, and we will continue to execute on this roadmap.”
Fourth Quarter 2022 Financial Results
For the fourth quarter 2022, Heliogen reported total revenue of $4.7 million and net loss of $35.0 million. Heliogen’s net loss was driven primarily by the growth of Heliogen’s operations to support its commercial-scale demonstration agreement with Woodside, including personnel costs such as a non-cash share-based compensation expense of $8.2 million and a non-cash asset impairment charge of $6.9 million. Heliogen’s Adjusted EBITDA, which excludes the non-cash share-based compensation expense and other impacts, was negative $25.8 million for the fourth quarter 2022.
Full Year 2022 Financial Results
For the full year 2022, Heliogen reported total revenue of $13.8 million and net loss of $142.0 million. Heliogen’s net loss was driven primarily by a non-cash share-based compensation expense of $42.6 million, the recognition of a provision for contract losses of $33.8 million and a non-cash asset impairment charge of $6.9 million, partially offset by non-cash, remeasurement impacts of $13.9 million related to our warrants. Heliogen’s Adjusted EBITDA, which excludes these and other impacts, was negative $81.0 million for full year 2022.
As Heliogen focuses on growing its revenue backlog, progressing its commercial projects and reducing its cost structure, the Company has decided not to issue financial guidance at this time.
Conference Call Information
The Heliogen management team will host a conference call to discuss its fourth quarter and full year 2022 financial results on Wednesday, March 29, 2023, at 10:00 a.m. EDT. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Heliogen’s website at www.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-407-0789 (1-201-689-8562 for international callers) and referencing Heliogen.
An archive of the webcast will also be available shortly after the call on the Investor Relations section of Heliogen’s website.
Open Conference Call Question Submission
Members of the investor community may submit questions before the start of the conference call for consideration via email to louis.baltimore@heliogen.com.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
No doubt about it.
HLGN.................https://stockcharts.com/h-sc/ui?s=HLGN&p=W&b=5&g=0&id=p86431144783
LANCASTER — The Lancaster Planning Commission approved a Conditional Use Permit and adopted a mitigated negative declaration for the expansion of the existing Heliogen Research and Development facility at 431 East Ave. K-4.
Applicant Heliogen Inc. seeks to expand the uses at the project site to include hydrogen production, processing, storing and dispensing; electricity production using a photovoltaic field and synthetic fuel production and storage.
“The project site in question has been an integral part of our business not only for our research and development endeavors but also to demonstrate for our stakeholders what exactly we do here at Heliogen,” Heliogen’s Jantien Shizuru said Monday during the public hearing on the proposed project.
She said the company hopes to produce green hydrogen at the facility.
“Although it’s on a relatively small scale here at our demonstration facility, it is really our hope that this is a stepping stone to be able to construct larger, commercial-scale green hydrogen projects in the city,” Shizuru said.
Vice Chairperson Cassandra Harvey asked about the end of life of the project and how the site will be decommissioned.
Joseph Long, vice president of Operations, said they did not specifically address mitigation at end of life.
“However, it’s a relatively simple, straightforward project to mitigate,” he said. “It’s basically steel, mirrors and concrete and all that would have to be removed.”
That would have to be at the expense of the developer, Senior Planner Jocelyn Swain said in response to a follow-up question from Harvey.
Heliogen would be required to return the project site to the condition in which they received it, Swain said in response to a question from Commissioner Daniel Tufts.
Tufts also asked about water usage at the site.
“As it is, our valley here, the water tables are getting lower and lower,” he said. “Where’s this water coming from? How much are you going to use?”
Long said the water comes from the domestic supply that was already there when they took possession of the property.
“The volume for the amount of hydrogen that we’re anticipating generating is about one gallon per minute,” Long said. “We would probably wind up using more for domestic use than we would for the hydrogen itself.”
The project site is the city’s former Gold Center and Driving Range. Heliogen has leased the property since 2019 for the testing of hydrogen/alternative energy equipment.
The proposed expansion would include installation of a 55-foot tall tower adjacent to the existing tower on site. The tower would support the expanded research and development uses at the facility and be similar in appearance to the existing tower.
There would also be a 100-kilowatt solar field comprised of approximately 400 solar panels. The panels would be used to test various photovoltaic components, including storage, panels and frames for solar thermal application.
The hydrogen production capabilities to be tested include storage, water capture, power generation from hydrogen and hydrogen venting and dispensing.
Approximately 500 kilograms of hydrogen would be produced daily and the storage unit volume would be approximately 1,000 kilograms.
“Hydrogen produced on site would be for project use only and not available to the public,” Swain said during a presentation at the meeting.
The hydrogen produced would create a synthetic crude that would be sent off-site for further refinement. Approximately 20 to 40 gallons of hydrogen would be produced a day.
An initial study was prepared and circulated from Feb. 7 to March 9. The city received four comment letters during the review period. Those were from the Antelope Valley Air Quality Management District, the California Department of Transportation, a property owner on Sixth Street East and the law firm of Adams Broadwell Joseph & Cardozo.
“Staff has reviewed the letters and feels that all the comments raised in the letters were adequately addressed in the initial study,” Swain said.
Each commissioner also received a copy of the letters with their agenda packets on March 16.
Adams Broadwell sent a second, 144-page letter 45 minutes before the scheduled start of the meeting on Monday, saying that because the initial study was not revised and the staff report does not talk about the letters received during the comment period, Planning staff did not evaluate or consider the comments.
“That is incorrect,” Swain said. “Staff reviewed all of the comments in all of the letters, and as previously stated feels were adequately addressed.”
Kelilah Federman, an attorney from Adams Broadwell Joseph & Cardozo, representing Citizens for Responsible Industry, said the mitigated negative declaration prepared for the project fails to comply with the California Environmental Quality Act because the staff report did not respond to public comments.
“CEQA requires that a public agency consider all comments on a MND before approving the project,” she said. “The city failed to comply with this requirement; there’s no evidence on the record that the city complied.”
Chairman James Vose said the purpose of the public hearing is to take input from the public.
Federman said the record before the commission “is substantially incomplete and lacks the substantial evidence to support project approval.”
She urged the Commission to continue the hearing and send the project back to staff to prepare an environmental impact report.
Vose noted the comments she raised were included in the letter her firm sent to the commission before the hearing. He asked about apparent conflicts between the conditions for the approval and requests from the AV Air Quality Management District. Swain explained the conditions for approval.
Vose also clarified other details about the project.
“Well, I’m satisfied that we have a complete project description,” he said. “We know what the environmental setting is; we certainly know about air quality. Clearly addresses the valley fever issue.”
The Commission voted 5-0 to approve the Conditional Use Permit and adopt the mitigated negative declaration, with Commissioners King Moore II and Leslie Underwood absent.
jdrake@avpress.com
Heliogen, Inc. Schedules Release of Fourth Quarter and Full Year 2022 Earnings Release and Conference Call
March 13 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90485701/heliogen-inc-schedules-release-of-fourth-quarter
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy, today announced that it will release financial and operating results for the fourth quarter and full year 2022 after the market close on Tuesday, March 28, 2023. This release will be followed by a conference call for investors at 10:00 AM EDT on Wednesday, March 29. Christie Obiaya, Heliogen’s Chief Executive Officer, will host the call.
The conference call may be accessed via a live webcast on a listen-only basis in the Investors section of Heliogen’s website at investors.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-407-0789 (1-201-689-8562 for international callers) and referencing Heliogen.
A replay of the webcast will be available shortly after the call on the Investors section of Heliogen’s website.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005238/en/
Heliogen Investor Contact:
Louis Baltimore
VP, Investor Relations
Louis.Baltimore@heliogen.com
Heliogen Media Contact:
Cory Ziskind
ICR, Inc.
HeliogenPR@icrinc.com
Awesome development
Heliogen Announces Updates to Strengthen Its Board and Drive Implementation of Strategic Plan and Growth Initiatives
March 06 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90428250/heliogen-announces-updates-to-strengthen-its-board
Announces appointment of Roger A. Lazarus to Board – veteran financial services executive brings decades of management, operational and financial experience across developed and emerging markets
Board establishes Corporate Strategy Committee to advise and oversee execution of key strategic pillars to improve shareholder value
Heliogen, Inc. (NYSE: HLGN) (the “Company”), a leading provider of AI-enabled concentrating solar energy technology, today announced updates to its Board of Directors (the “Board”) to accelerate the successful implementation of the Company’s strategic plan, pursue growth initiatives and enhance value for shareholders.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230306005764/en/
(Photo: Business Wire)
Roger A. Lazarus has been appointed a member of the Board, effective March 2, 2023. Mr. Lazarus, a Chartered Accountant (ICAEW), brings valuable financial and operational expertise across both developed and emerging markets. He will serve on the Board’s Audit and Compensation Committees.
Additionally, the Board has established a new Corporate Strategy Committee (the “Committee”) to work with Heliogen’s management team to advise and oversee management’s process for implementing the Company’s strategic priorities and growth initiatives, immediately targeted at (1) sales of the Company’s steam product for use in industrial processes and in green hydrogen production and (2) installation of commercial-scale projects. The Committee is chaired by director and industrial energy transition veteran Barbara Burger, and includes Christie Obiaya, Heliogen’s Chief Executive Officer, and directors Stacey Abrams and Paddy Padmanathan.
Further, director Julie M. Kane has been elected chair of the Board.
“I am committed to working closely with our Corporate Strategy Committee as we focus on executing our strategic plan and propelling our growth initiatives forward,” said Christie Obiaya. “The Committee’s engagement will be invaluable as we tackle the key pillars of our business strategy. With our world-class team and Board, we are poised to scale our groundbreaking concentrated solar thermal technology to decarbonize industry and deliver value to our shareholders.”
“The entire Board is pleased to welcome Roger as a director to support our mission of changing the world by decarbonizing industry,” said Julie Kane. “Roger brings a wealth of finance and business expertise, along with a more than three-decade track record as an experienced leader, operator and strategist in emerging markets. I am confident we will benefit from his valuable perspectives as we execute on our strategic plan and continue to grow Heliogen into a global leader in industrial decarbonization.”
“I am excited to join Heliogen’s Board at such a pivotal time for the Company," said Roger Lazarus. “I am energized to work alongside this top-notch group of individuals united by the same mission to accelerate the global energy transition, and I look forward to bringing my finance, operational and management experience to bear as Heliogen continues to execute on its global growth strategy.”
Roger A. Lazarus Biography
Mr. Lazarus is a recognized global business executive, with a proven track record of Board and C-suite experience and business unit leadership roles for a range of emerging and established businesses, as well as multi-country transaction advisory expertise. He is currently the Chief Financial Officer of Chain Bridge I, a NASDAQ listed special purpose acquisition company, and is also a venture partner to Marcy Venture Partners and its portfolio companies. Mr. Lazarus joined Ernst & Young LLP in Boston as a partner in 1997 advising on acquisitions and investments for corporate and private equity clients. During his 23-year career with Ernst & Young, he served in a variety of roles, including as the Chief Operating Officer (“COO”) and Board member of Ernst & Young’s LatAm North region, where he managed internal operations and oversaw financial and operating reporting for 13 countries, as a managing partner and COO of Ernst & Young Colombia, and as the managing partner of Ernst & Young´s West Region Transactions service-line. Mr. Lazarus is a director and the chair of the Audit Committee and Compensation Committee of LatAm Logistic Properties S.R.L, a 3PL real estate developer in Costa Rica, Colombia and Peru. He is chair of the Audit Committee of the Goldman Environmental Foundation, the sponsor of the annual Goldman Environmental Prize. Mr. Lazarus is a Chartered Accountant (ICAEW), holds a BA with honors in Economics from the University of York, England and completed the international certification of the Institute of Directors (London, England) in 2020.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Awesome technology, I'm in.
Heliogen Provides Strategic Update in Letter to Shareholders
February 16 2023
https://ih.advfn.com/stock-market/NYSE/heliogen-HLGN/stock-news/90270403/heliogen-provides-strategic-update-in-letter-to-sh
CEO Christie Obiaya Announces Swift and Bold Strategic Priorities
Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today published a letter to shareholders signaling a renewed strategic focus to capitalize on evolving customer demand, emerging market conditions and enhanced operational efficiency. The full text of the letter below can also be found at investors.heliogen.com.
Dear Fellow Shareholders,
I am honored to serve as Heliogen’s new CEO and to have the opportunity to share with you my plan to accomplish our mission of changing the world by decarbonizing industry with our breakthrough concentrated solar thermal technology. Since joining Heliogen two years ago, I have been continuously impressed by our innovative, passionate, and talented employees combined with our disruptive, differentiated technology. But I understand talent and technology alone are not enough. To accomplish our goals, we need to address near-term challenges. I recognize the need for Heliogen to rapidly take bold steps to respond to customer demand and market conditions and to become leaner. I have also taken the time to listen and learn from our stakeholders, who I believe will be excited about these changes. I am more convinced than ever that our company has the potential to be a leader in the industry and deliver significant value to our customers and to our shareholders.
Today I am sharing with you the core pillars that will serve as the basis for our comprehensive plan to respond to market feedback, streamline our operations, and significantly improve our financial condition. My top priorities are:
- Sales: Our first obligation is to respond to emerging market conditions by prioritizing our fastest path to growing our revenue backlog. Put simply, this is the most effective way for Heliogen to demonstrate product-market fit and prove the value of our technology to our investors. Our sales efforts will be focused squarely on driving forward our industrial steam product, which is our product with the highest level of technical readiness. This product has a unique ability to provide zero-carbon energy for two critical applications: providing steam for industrial processes and providing steam for green hydrogen production when paired with solid oxide electrolyzers. The industrial steam market provides us with a significant opportunity while the green hydrogen market is nascent but growing rapidly, turbocharged by the Inflation Reduction Act.
- First installation of commercial-scale projects: I understand the importance of having real-world operating data from commercial projects, and my experience in developing and building large-scale energy projects gives me a unique perspective of what it takes to be successful in this critical phase of Heliogen’s trajectory. Based on market feedback, we believe having data from completed projects will unlock demand from prospective customers for whom “operating commercial-scale project” is a must-have selection criterion. That list of prospective customers is quite long, and we need a different approach of converting “prospective” to “contracted” for those who are not early adopters of technology. We are confident that getting projects in the ground will usher in a larger customer base, ultimately charting the path for companies who want to license our technology and build it themselves.
- Reducing our cost structure: By aggressively cutting costs, streamlining our operations, and focusing our efforts on driving tangible, immediate results, we can meaningfully extend our liquidity runway. This would reduce our need for external capital as we drive toward funding our business with internally generated cash flows from operations. This decision will give us the time we need to further develop projects, putting us in a more advantageous position to pursue a future capital raise that should take us to cashflow breakeven. We currently believe we have sufficient funding to meet our obligations through early 2024, and I am working on a plan to extend this runway through late 2024.
- Regaining NYSE listing compliance: As we accomplish the goals outlined above, we hope to create the shareholder value necessary to regain compliance without the need for a reverse stock split. However, we still plan to seek a shareholder vote at our 2023 annual meeting to approve a reverse stock split in case such action is determined to be necessary or appropriate.
Market feedback indicates that successful implementation of these priorities, along with the favorable market incentives, should provide us with more attractive financing alternatives and elicit additional interest from investors, to allow us to raise additional capital in the future at potentially more favorable terms than are currently available. I look forward to sharing the more concrete details underpinning our plan during our fourth quarter and full-year 2022 earnings conference call in March.
I want to thank you for your continued support and confidence in our company. With our world-class team and groundbreaking concentrated solar thermal technology, I am confident in our ability to meet our strategic goals in the near-term and to accomplish our mission of changing the world by decarbonizing industry while delivering value to our shareholders.
Sincerely,
Christie Obiaya
Chief Executive Officer
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
DOE Just Can’t Quit Concentrating Solar Power (& That’s A Good Thing)
New Mexico will host a new concentrating solar power plant that could kill coal, gas, and nuclear energy all at once.
ByTina Casey
Published 22 seconds ago
https://cleantechnica.com/2023/02/18/doe-just-cant-quit-concentrating-solar-power-thats-a-good-thing/
Key quotes:
"A New Dawn For CSP
Another Energy Department focus of attention is the Bill Gates CSP venture Heliogen, which burst out of stealth mode in 2019 with a goal of operating at 1,000 degrees centigrade.
The last time we checked into Heliogen, they were on track to install their CSP system to help cut emissions at a boron mine in California.
Meanwhile, Heliogen seems to be going through a rough patch, but earlier this month the company announced a new CEO, Christie Obiaya, who has a plan for turning things around. In addition to her experience in energy-related project development, Ms. Obiaya is an engineer with a B.S. in Chemical Engineering from MIT."
Link to SEC Form Schedule 13D just filed by Heliogen. https://quantisnow.com/insight/4051006
Heliogen Announces New Chief Executive Officer to Drive Next Phase of Growth
February 6, 2023 - 5:58 pm
https://www.stocktitan.net/news/HLGN/heliogen-announces-new-chief-executive-officer-to-drive-next-phase-iohk4tgoasak.html
Summary
Christie Obiaya appointed Chief Executive Officer bringing her strategy and finance expertise to drive Heliogen’s growth and commercialization; Kelly Rosser appointed interim Chief Financial Officer
PASADENA, Calif.Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrating solar energy technology, today announced that its Board of Directors (the “Board”) has appointed Christie Obiaya as Chief Executive Officer and added Ms. Obiaya to the board of directors, effective immediately. Ms. Obiaya, head of Heliogen’s Executive Committee and formerly its Chief Financial Officer, replaces Bill Gross, who was removed as Chief Executive Officer and has resigned from the board of directors.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230206005665/en/
(Photo: Business Wire)
“As Heliogen moves forward on commercial projects, Christie brings almost two decades of operational and financial experience, with degrees and a working background in both business and engineering,” said Robert Kavner, Heliogen’s lead independent director. “Having served as Chief Financial Officer of Heliogen and chair of the executive committee, she is intimately familiar with our innovative renewable energy technology, our customers, and the priorities to drive our future success. This knowledge, together with her experience growing and managing energy and infrastructure development and sustainable technologies, make her the right person to take on these additional responsibilities. Christie, together with the rest of Heliogen’s management team, will focus on and advance the company’s strategic plan.”
Ms. Obiaya joined Heliogen in March 2021 as Chief Financial Officer and has worked closely with the Company’s management team on commercializing its solar energy and thermal storage systems technology. Prior to joining Heliogen, Ms. Obiaya served as the head of strategy and chief financial officer for Bechtel Energy’s multi-billion-dollar, global energy business unit from 2017 to 2021. She also held various leadership roles at Bechtel in finance, strategy, project development, investment, and execution from 2010 to 2017. Prior to Bechtel, Ms. Obiaya worked on renewable energy projects in Kenya and India from 2008 to 2009. Ms. Obiaya began her career as an engineer, designing products and scaling up manufacturing processes at a multinational consumer goods company from 2004 to 2008. Ms. Obiaya graduated from the Massachusetts Institute of Technology (MIT) with a B.S. in Chemical Engineering and an MBA from MIT Sloan School of Management.
“I am honored to have the opportunity to lead the company as we bring Heliogen’s renewable energy technology to customers looking to decarbonize their operations,” said Ms. Obiaya. “I look forward to bringing together Heliogen’s exceptional talent with our industry partners, and to delivering with excellence for our customers, employees, and stockholders.”
“On behalf of the Board, I would like to thank Bill Gross for his founding vision of Heliogen and providing the Company a platform for future success,” stated Mr. Kavner.
As part of the leadership transition, Kelly Rosser has been appointed interim Chief Financial Officer. Ms. Rosser has served as Heliogen’s Chief Accounting Officer since August 2022. Ms. Rosser brings over 20 years of financial executive experience as chief accounting officer, corporate controller, and auditing public companies.
About Heliogen
Heliogen is a renewable energy technology company focused on decarbonizing industry and empowering a sustainable civilization. The company’s concentrating solar energy and thermal storage systems aim to deliver carbon-free heat, steam, power, or green hydrogen at scale to support round-the-clock industrial operations. Powered by AI, computer vision and robotics, Heliogen is focused on providing robust clean energy solutions that accelerate the transition to renewable energy, without compromising reliability, availability, or cost. For more information about Heliogen, please visit heliogen.com.
Link to 8-k on departure of officers, appointment of officers, released today, after market close. https://fintel.io/doc/sec-heliogen-inc-1840292-8k-2023-february-06-19394-2222
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