ANNOUNCES US MARKET CONTRACT TO PROVIDE THREE
MOBILE TURBINES TO CALIFORNIA'S
IMPERIAL IRRIGATION DISTRICT
LONDON, May 5, 2021 /PRNewswire/ - APR Energy Ltd.
("APR"), a wholly-owned subsidiary of Atlas Corp. ("Atlas" or the
"Company") (NYSE: ATCO), announced today that it has secured a
contract with California's
Imperial Irrigation District ("IID") to utilize three gas turbines
to place power dense distributed generation capacity over three
sites during the 2021 summer months. APR's fast-track power
solution will assist in maintaining frequency and provide needed
backup capacity within IID's service territory, which covers 6,471
square miles, including all of Imperial
County and parts of Riverside and San
Diego counties. APR's services will serve as an integral
part of IID's commitment to maintaining capacity reserve margins
and grid stability within its large system during the summer peak
APR's services for utilities and power providers offer a
critical and turnkey solution for peak season generation
requirements. APR's power plants protect utilities and customers
from increasingly frequent stresses on critical infrastructure,
which can trigger loss of electricity. APR expects California's IID solution to become
operational during June and conclude in the beginning of the fourth
quarter of 2021.
"APR's turnkey solutions ensure IID and other utilities their
energy availability and grid stability during peak demand periods,"
commented Bing Chen, CEO of Atlas. Further, he stated, "by
leveraging APR's significant global expertise and track-record of
successful and rapid installation of customer tailored solutions,
we are proud to develop this opportunity along with IID to supply
electricity for grid stabilization in Southern California. We're committed to
service IID in its primary objective of keeping the lights on for
Henry Martinez, General Manager
of Imperial Irrigation District, commented, "APR has worked
extensively in close collaboration with IID's technical,
operational, and management teams to offer a unique and timely
answer to peak summer demand with a power dense solution that is
unavailable with other technologies on such short notice. We look
forward to implementing this project to help with grid stability
and to meet our customer's needs. Finally, I would like to
acknowledge the Imperial County Air Pollution Control District who
provided valuable assistance as well."
President and COO of APR, Brian
Rich, commented, "We are proud of our APR team's diligent
execution in establishing our newest relationship with IID by
providing a timely solution for today's increasing peak power
demands in Southern California. As we have witnessed in
recent years both in the US and globally, high demand utility grids
are subject to outages and shortages, and APR's reliable, rapidly
deployable solution provides utilities with added assurance for
grid stability and added electrical capacity that flexes to their
needs. We encourage utilities in the US to explore our unique
capabilities and solutions as they navigate reliability and
capacity issues within their aging infrastructure."
About Atlas Corp.
Atlas is a leading global asset
management company, differentiated by its position as a best-in
class owner and operator with a focus on disciplined capital
deployment to create sustainable shareholder value. Atlas
targets long-term, risk adjusted returns across high quality
infrastructure assets in the maritime sector, energy sector and
other infrastructure verticals. For more information visit
About APR Energy
APR Energy provides rapidly
deployable power and long-term generation solutions to governments,
utilities, and industries around the world. For more
information, visit aprenergy.com.
About Imperial Irrigation District
The third largest
public power provider in California and the sixth largest utility in
the state, Imperial Irrigation District delivers power around the
clock to more than 155,000 meters that serve roughly 450,000 people
in its 6,700-mile energy service territory. As a public utility,
the district maintains some of the lowest rates in the state and
meets some of the highest reliability standards nation-wide. For
more information, visit iid.com.
STATEMENT REGARDING FORWARD-LOOKING
This release contains forward-looking statements (as such term
is defined in Section 21E of the Securities Exchange Act of 1934,
as amended, or the Exchange Act) concerning future events,
including forward-looking statements regarding when the power
project will become operational and the duration thereof, the
financial contribution or impact from this and other contracts and
APR's continued business in the region. Statements that are
predictive in nature, that depend upon or refer to future events or
conditions, or that include words such as "continue," "expects,"
"anticipates," "intends," "plans," "believes," "estimates,"
"projects," "forecasts," "will," "may," "potential," "should" and
similar expressions are forward–looking statements. These
forward-looking statements represent Atlas' estimates and
assumptions only as of the date of this release. As a result, you
are cautioned not to rely on any forward-looking statements.
Forward-looking statements in this release are estimates and
assumptions reflecting the judgment of senior management and
involve known and unknown risks and uncertainties. These risks and
uncertainties include, but are not limited to: the potential for
delays in the commencement of operations and early termination of
the contracts; and other factors detailed from time to time in our
periodic reports and filings with the Securities and Exchange
Commission, including Atlas' Annual Report for the year ended
December 31, 2020 on Form 20-F filed
on March 19, 2021.
Atlas and APR expressly disclaim any obligation to update or
revise any of these forward-looking statements, whether because of
future events, new information, a change in Atlas' and APR's views
or expectations, or otherwise.
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SOURCE Atlas Corp.