LONDON, ON, Feb. 2,
2022 /PRNewswire/ - APR Energy Ltd. ("APR"), a wholly owned
subsidiary of Atlas Corp. ("Atlas" or the "Company") (NYSE: ATCO),
announced today that it has extended a contract to provide
approximately 75 MW of back-up energy for California's Imperial Irrigation District
("IID") through 2022. The extension follows APR's successful
execution of services with IID in 2021. APR's fast-track power
solutions assist IID in maintaining frequency and providing backup
capacity within its 6,471 square mile service territory, including
all of Imperial County and parts
of Riverside and San Diego counties.
"APR's energy services have played an integral part of IID's
commitment to maintain capacity reserve margins and grid stability
during the volatile summer months", said Henry Martinez, General Manager of Imperial
Irrigation District. "APR's unique solutions, such as 24x7
availability and customizable transformation, have allowed our team
to ensure our customers have access to stable, affordable energy,
when they need it most".
APR's temporary energy solutions for IID include three fully
staffed GE TM2500 turbine-based power plants sited within
substations in El Centro and
Calexico. Each power plant has an output of approximately 25
MW.
IID's forward-looking approach with APR secures supplemental
energy services at pre-determined prices well ahead of known peak
demand periods.
"APR is dedicated to enabling the energy transition and
supporting California in its
efforts to maintain reliable power while developing longer term
forms of cleaner energy." said Ben
Church, CEO, APR Energy. "With increased energy demand and
weather volatility across the United
States, other utilities should look at the proactive steps
IID is taking to ensure energy reliability to its customers".
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.
About Atlas
Atlas is a leading global asset management
company, differentiated by its position as a best-in-class owner
and operator with a focus on deploying capital to create
sustainable shareholder value. Atlas brings together an experienced
asset management team with deep operational and capital allocation
experience. We target long-term, risk adjusted returns across
high-quality infrastructure assets in the maritime sector, energy
sector and other infrastructure verticals. Our two portfolio
companies, Seaspan Corporation and APR Energy Ltd. are unique,
industry-leading operating platforms in the global maritime and
energy spaces, respectively. For more information visit
atlascorporation.com.
Cautionary Note Regarding Forward-Looking
Statements
This release contains certain forward-looking
statements (as such term is defined in Section 21E of the
Securities Exchange Act of 1934, as amended) concerning future
events. Statements that are predictive in nature, that depend upon
or refer to future events or conditions, or that include words such
as "expects", "anticipates", "intends", "plans", "believes",
"estimates", "projects", "forecasts", "will", "may", "potential",
"should", and similar expressions are forward-looking statements.
These forward-looking statements, reflect management's current
expectations only as of the date of this release. As a result, you
are cautioned not to rely on any forward-looking statements.
Although these statements are based upon assumptions that we
believe to be reasonable based upon available information, they are
subject to risks and uncertainties. These risks and uncertainties
include, but are not limited to, the factors detailed from time to
time in our periodic reports and filings with the SEC, including
Atlas's Annual Report on Form 20-F for the year ended December
31, 2020, filed with the SEC on March 19, 2021. We expressly
disclaim any obligation to update or revise any of these
forward-looking statements, whether because of future events, new
information, a change in our views or expectations, or otherwise.
We make no prediction or statement about the performance of any of
our securities.
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SOURCE Atlas Corp.