Sempra - SRE STOCK NEWS

Southern California Gas Co. (SoCalGas) and EVOLOH, an AEM electrolyzer technology developer, have concluded a joint research project aimed at reducing the capital costs of electrolyzer technology by about 25%. The project achieved a 15% increase in hydrogen production efficiency for EVOLOH's Nautilus™ series electrolyzer stack, also extending its equipment lifetime. This enhancement utilizes readily available materials and a roll-to-roll manufacturing process, enabling a shorter supply chain and lower production costs. The technology will be scaled up at EVOLOH's new manufacturing Center of Excellence in Massachusetts with a target of 3.75GW annual production by 2025 and 15GW by 2027. SoCalGas' RD&D Program funded the project and provided technical assistance.

On June 26, 2024, Aramco and Sempra announced a non-binding Heads of Agreement (HoA) for a 20-year sale and purchase agreement (SPA) for 5.0 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 expansion project. Aramco is also set to take a 25% equity stake in this phase. The agreement aims to fulfill the growing global demand for lower-carbon energy. The Port Arthur LNG project, located in Southeast Texas, is part of Sempra's larger Port Arthur Energy Hub and is positioned to enhance global energy security. The Phase 2 expansion is expected to bolster the facility's capacity up to 13 Mtpa, with the potential to further grow into one of the world's largest LNG export facilities.

This strategic move highlights Aramco's intent to diversify into the LNG sector and Sempra's commitment to expanding U.S. natural gas distribution globally. The project stands to play a important role in improving energy security while offering a lower-carbon alternative to coal for electricity production.

The Sempra Foundation, funded by Sempra (NYSE: SRE), announced a charitable donation to the American Red Cross to aid communities affected by the South Fork and Salt fires in southern New Mexico. The donation, up to $50,000, will help provide essential resources and services to impacted residents. Sempra Foundation's commitment is part of its ongoing efforts to enhance community resilience against severe weather events. The Red Cross has established shelters offering meals, health services, and relief supplies for those in need. The Sempra Foundation continues its tradition of responding to natural disasters.

Sempra (NYSE: SRE) has appointed Jennifer M. Kirk to its board of directors, effective June 20, 2024. Kirk currently serves as the global controller and chief accounting officer at Medtronic (NYSE: MDT) and brings over 20 years of experience in the energy sector. Her previous roles include various senior positions at Occidental Petroleum Kirk also chairs the audit committee at Republic Services. With her appointment, Sempra's board now has 10 directors, including three new members added over the past five years. Kirk will be a member of the audit and the safety, sustainability, and technology committees.

Southern California Gas Co. (SoCalGas) has integrated 21 new Ford E-Transit electric vans into its fleet, marking a significant step toward its ASPIRE 2045 sustainability strategy. This move supports SoCalGas' target to replace 50% of its fleet with alternative fuel vehicles by 2025 and achieve a 100% zero-emissions fleet by 2035. As of the end of 2023, 38% of SoCalGas' fleet was powered by low- and zero-emission energy sources. The company is also collaborating with Ford and the Department of Energy to develop a hydrogen fuel cell F-550 prototype for real-world testing in 2025. To facilitate this transition, SoCalGas is expanding its EV charging infrastructure, aiming to install 1,500 chargers across 65 sites within the next two years. This effort highlights SoCalGas' leadership in sustainability among utilities, having previously received the Leading Private Fleet Award at the Advanced Clean Transportation Expo in 2022.

Southern California Gas Co. (SoCalGas) will assist Labor Community Services (LCS) by providing 100 volunteers to sort over 1.8 million pounds of food donations from the 32nd Annual National Association of Letter Carriers' (NALC) 'Stamp Out Hunger' Food Drive.

In addition to the manpower, SoCalGas will donate $25,000 to purchase groceries, potentially aiding around 1,000 families for up to five days. The 'Stamp Out Hunger' drive helps stock local food banks during the spring and summer when school meal programs aren't available.

SoCalGas has partnered with LCS since 2007, contributing significantly, including sorting 74,000 pounds of food in 2023, helping approximately 2,900 families. SoCalGas plans to invest $50 million in underserved communities over five years as part of their ASPIRE 2045 strategy.

Southern California Gas Company (SoCalGas) announced on May 30, 2024, that its board of directors has declared regular quarterly dividends for its preferred series stock. The dividend amount is set at $0.375 per share for both the preferred stock and Preferred Stock, Series A. These dividends will be payable on July 15, 2024, to shareholders who are on record as of June 10, 2024.

Southern California Gas Company (SoCalGas) has received the 'Organizational Leadership Award' from The Climate Registry at the Climate Leadership Conference for its ASPIRE 2045 sustainability strategy. This award recognizes SoCalGas' leadership in reducing greenhouse gas (GHG) emissions and addressing climate change. The company's initiatives include surpassing California's goal by reducing fugitive and vented methane emissions by 20% from a 2015 baseline by 2025, converting 38% of its fleet vehicles to alternative fuels, and aiming for a 100% zero emissions vehicle fleet by 2035. SoCalGas has also delivered 5% renewable natural gas to core customers in 2023, with a goal of 20% by 2030. SoCalGas has also received the 'Business Transformation Award' from Reuters Events and has been recognized for its clean hydrogen microgrid project.

SoCalGas announced that nonprofit organizations can apply for grants of up to $50,000 through the SoCal Climate Champions Grant Program. The initiative, which has awarded over $3 million since 2015, supports projects that reduce greenhouse gas emissions, improve air quality, or provide organic waste solutions. The application window runs from April 21 to June 21, with winners announced in October. Past recipients include the Orange County Conservation Corps and the Cal Poly Pomona Foundation, which used grants for climate resilience projects and energy storage systems. The program falls under SoCalGas's ASPIRE 2045 Sustainability Strategy, aiming for $50 million in community investments and a carbon-neutral future.