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Energy Vault and Jupiter Power Announce New Agreement for Battery Energy Storage System in Texas

LCG, June 4, 2025--Energy Vault Holdings Inc. (Energy Vault) and Jupiter Power (Jupiter) today announced the signing of an agreement for the supply of an additional battery energy storage system (BESS) at a Jupiter site in the Electric Reliability Council of Texas (ERCOT) region. The initial BESS project, located near Fort Stockton, Texas, was completed in July 2024, with a storage capacity 100 MW/200 MWh. The new BESS project will add another 100 MW/200 MWh of capacity. Construction has commenced, and the project is expected to achieve commercial operations by the end of this summer.

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NuScale Power Achieves Standard Design Approval from NRC for 77 MW SMR

LCG, May 30, 2025--NuScale Power Corporation (NuScale), a leading provider of advanced small modular reactor (SMR) nuclear technology, yesterday announced that it has received design approval from the U.S. Nuclear Regulatory Commission (NRC) for its uprated 77 MW power modules. NuScale states that it remains the only SMR technology company with design approval from the NRC, and the company remains on track for deployment by 2030, with 50- and 77-MW SMR options.

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Industry News

Canadian Oil and Gas Firms to Merge

LCG, Jan. 28, 2002--A merger deal has been struck by PanCanadian Energy and Alberta Energy, and the resulting entity, EnCana Corp., will rank among the world's largest independent oil and gas exploration and production companies.

The agreement is worth over C$21.4 billion ($13.3 billion), transacted completely through a stock swap. Alberta Energy investors will receive 1.472 shares of PanCanadian Energy for each share they own. Cost savings relating to exploration and production costs are estimated at C$250 million ($155 million).

EnCana Corp.'s president and CEO will be Gwyn Morgan, who now holds those positions at Alberta Energy, while the company's chairman will be PanCanadian's chairman David O'Brien. O'Brien said in a statement, "we have decided to come together as equals from positions of strength so that we can achieve a stronger future in this highly competitive marketplace."

Based upon proved reserves of natural gas and oil and gas liquids, the overall production target of EnCana will be 2.7 billion cubic feet of natural gas and 255,000 barrels of oil per day.

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