Eneos Hldgs Inc - JXHLY STOCK NEWS

TotalEnergies reported a $4.1 billion impairment related to its Russian operations amid ongoing geopolitical tensions. Despite this, the company posted an IFRS net income of $4.9 billion for Q1 2022, down 15% from the previous quarter but up 48% year-on-year. Adjusted net income reached $9 billion, marking a 32% increase. The company generated cash flow from operations of $7.6 billion, a significant decrease of 34%. Additionally, TotalEnergies declared a 5% increase in its interim dividend to €0.69 per share, while expanding its sustainable energy investments, including offshore wind projects.

TotalEnergies and ENEOS Corporation have initiated a collaboration to conduct a feasibility study for producing Sustainable Aviation Fuel (SAF) at ENEOS's Negishi Refinery in Yokohama, Japan. The study will focus on feedstock procurement, using waste such as used cooking oil and animal fat, aiming for a capacity of 300,000 tons per year by 2025. This partnership combines TotalEnergies' expertise in SAF production with ENEOS’s refinery capabilities, addressing Japan's growing demand for aviation fuel and contributing to the decarbonization goal of a 10% SAF usage by 2030.

TotalEnergies (Euronext: TTE) and ENEOS (OTC-PINK: JXHLY) have established a 50/50 joint venture to develop decentralized solar power generation in Asia, targeting a capacity of 2 GW over five years. This partnership aims to combine TotalEnergies' global expertise and ENEOS' strong brand presence in Japan, which positions them competitively within the renewable energy sector. Completion of the deal is anticipated in Q2 2022, pending regulatory approvals. This initiative aligns with TotalEnergies' goal to achieve 100 GW of renewable capacity by 2030.

ENEOS Corporation and Toyota Motor Corporation have entered a joint agreement to develop CO₂-free hydrogen production and usage at Woven City, Toyota's prototype city in Japan. The partnership aims to construct a hydrogen refueling station and supply CO₂-free hydrogen for Fuel Cell Electric Vehicles (FCEVs). Operations are set to begin between 2024 and 2025. This initiative is part of a broader commitment towards a carbon-neutral society, enhancing both companies' efforts in sustainable energy.

Ubiquitous Energy, a leader in transparent solar technology, has announced a successful $30 million Series B funding round, bringing total funding to $70 million. Key investors include Andersen Corporation and ENEOS. This funding will accelerate the commercialization of their patented UE Power™ technology, which can offset up to 10% of global CO2 emissions from buildings. The company is also selecting a site for its first manufacturing line in the U.S., aiming to boost deployment of solar generating windows that integrate seamlessly into architectural designs.

Orbis Investment Management Limited criticized the ENEOS-led privatization agreement with Nippo Corporation as fundamentally flawed and unfair to minority shareholders. The deal proposes a JPY4,000 per share offer, which Orbis argues undervalues Nippo due to its significant non-operating assets. Orbis, alongside other institutional investors, urges the Special Committee to seek competitive offers, properly value Nippo’s non-operating assets, and ensure transparency in the valuation process to protect shareholder interests.

Oasis Management Company has raised concerns regarding the planned tender offer for NIPPO Corporation shares, valuing them at just JPY4,000 each, significantly lower than Oasis's estimated fair value of over JPY5,600. Oasis argues that this undervaluation results from a flawed transaction process and calls for an active market check to negotiate a higher price for minority shareholders. They have documented governance concerns and urged the NIPPO Special Committee to ensure fair value is delivered to all shareholders.

ENEOS Holdings and Nippon Sheet Glass have initiated Japan's first installation of transparent solar panels, developed by Ubiquitous Energy. This project, located at NSG's facility in Chiba, aims to assess the energy-saving performance and power generation capabilities of these innovative windows over a year, from September 1, 2021, to August 31, 2022. The transparent solar windows generate electricity from non-visible light while maintaining visual transparency, contributing to the future of solar power generation integrated into buildings.