Connect with us

Technology

Nostromo Energy Secures $305 Million Conditional Commitment from US Department of Energy to Cut Climate Impact and Costs of Cooling in Large California Buildings

Published

on

Nostromo will use funds to deploy its IceBrick® thermal energy storage systems in 193 commercial buildings across California

IRVINE, Calif., Dec. 9, 2024 /PRNewswire/ — Nostromo Energy, provider of the IceBrick® system, a virtual power plant (VPP)-enabled thermal energy storage solution for commercial and industrial buildings, announced today that it has received a conditional commitment for a loan guarantee of up to $305.5 million from the U.S. Department of Energy’s (DOE) Loan Programs Office (LPO). The proposed financing would be used by Nostromo for Project IceBrick® – the first, wide-scale deployment of Nostromo’s technology to reduce costs, emissions, and grid strain related to electricity for commercial cooling.

If finalized, the loan will finance the deployment of IceBrick® installations at up to 193 commercial buildings and facilities across California. Nostromo will also target installing at least 20% of these projects in disadvantaged communities, further improving the reliability of local systems. Project IceBrick® has the potential to create more than 200 jobs, including over 170 peak construction jobs. Over the 5-year construction period, the project will also create more than 874 annual job equivalents, including hiring installation contractors from disadvantaged communities when possible.

The project could also enable the state’s bulk power system to avoid up to 500,000 tonnes of CO2 emissions over its lifetime by installing a potential equivalent of 170 MW (450 MWh) of behind-the-meter, or on-site, storage capacity in buildings – while making power more reliable and affordable.

Seventy-four percent of all electricity in the US is consumed by buildings, with approximately half used to maintain thermal conditions, representing the largest load on both buildings and the power grid. California is the second-largest total energy consumer by state in the US and has set a target of being a 60% clean energy grid by 2030 and 100% by 2045.

Nostromo’s IceBrick® ice-based thermal energy storage (TES) technology reduces costs, emissions, and grid-congestion associated with the largest energy use in large commercial buildings-HVAC. The IceBrick® systems charge when electricity is cheap and clean (when renewables are available) and discharge later for use when power is both expensive and polluting. The IceBrick storage cells are 100% US-made from recycled or recyclable materials. All IceBrick® systems are centrally managed for grid-integration as a virtual power plant (VPP). They are compatible for new buildings or retrofitting on properties including hotels, offices, data centers, and hospitals. Host building owners can install IceBrick® systems without any capital or other upfront costs under Nostromo’s “Energy Storage-as-a-Service” (ESaaS) program.

Project IceBrick® is the third VPP project that the LPO has announced and the first to use TES. The potential for VPPs to alleviate grid load is significant as peak hours air conditioning accounts for approximately 50% of US electricity load during those hours. VPPs are aggregations of electrified, grid-connected devices, including grid interactive efficient buildings. They reduce utilities’ reliance on natural gas peaker plants and the strain on transmission and distribution infrastructure by intelligently time-shifting cooling loads to shave electricity demand from times of peak usage, when electricity is most carbon-intensive. As a VPP, Project IceBrick supports a higher rate of grid asset utilization, further tempering cost increases for Californians, who face some of the highest electricity bills in the nation.

“We’re excited to help fulfill the vision of the DOE and LPO to make VPPs a key resource of the modern grid by serving up to 20% of its peak loads and making power more secure, affordable and clean,” said Yoram Ashery, CEO of Nostromo Energy. “This project will benefit not only commercial buildings, but also electricity consumers in general, create hundreds of good paying domestic jobs, and reduce emissions from gas peaker plants which mostly impact disadvantaged communities around them.”

The loan guarantee for Project IceBrick would be issued under the Title 17 Clean Energy Financing Program, of the Energy Policy Act of 2005. Financing for the first Project IceBrick will be provided, subject to the outstanding required approval, by the DOE guaranteed loan of up to $305.5 million (inclusive of $1.85 million of capitalized interest), and in addition project equity, for which a term sheet has been executed with a private equity management firm, and investment tax credits (ITC). Nostromo has recently completed the sale of the ITC earned on its first IceBrick® system. In conjunction with Project IceBrick, Independence Point Securities is the exclusive financial advisor to Nostromo Energy.

This conditional commitment indicates DOE’s intent to finance the project, however, DOE must complete an environmental review, and the company must satisfy certain technical, legal, environmental, commercial, and financial conditions before the Department can decide whether to enter into definitive financing documents and fund the loan guarantee.

For more information, review the DOE’s announcement blog.

About Nostromo Energy

Nostromo Energy’s ice-based energy storage solution is redefining energy storage for commercial and industrial buildings, enabling them to become sustainable energy storage assets and reduce their energy costs and carbon emissions. Nostromo’s IceBrick® system uses ice to store energy when electricity prices are low and renewable energy is abundant, and later discharge the energy to avoid purchasing electricity that is both carbon-intensive and expensive. In this way, Nostromo helps accelerate the renewable revolution and paves the way to a carbon-free electric grid, while offering building owners a safe, clean, and financially beneficial energy storage solution. The IceBrick® is non-flammable, modular, and compact, easily retrofitted to existing commercial and industrial buildings. To learn more about Nostromo and the IceBrick® technology, visit www.nostromo.energy.

Nostromo Energy’s IceBrick® System

Nostromo’s IceBrick system is composed of thermal storage cells that are modular and compact, allowing for installation in a variety of building types as well as various locations within a building, such as in a basement or on a roof. It operates by using regular electricity to freeze a water-based solution during the hours when the grid’s electricity supply is at its most abundant and clean. The stored energy in the frozen IceBricks is then used to help power the building’s cooling system during hours of peak demand, reducing the need to rely on power from the grid at these times, which are the most expensive and when the grid faces highest demand and produces electricity from the most carbon-intensive and polluting sources. Nostromo’s VPP software can control operation and performance of IceBrick systems either as standalone systems or in concert as a VPP. The IceBrick storage cells are manufactured entirely in the US, from partially recycled and 100% recyclable materials.

Contact:
Rebecca Ash
rebecca@gova10.com 

View original content:https://www.prnewswire.com/news-releases/nostromo-energy-secures-305-million-conditional-commitment-from-us-department-of-energy-to-cut-climate-impact-and-costs-of-cooling-in-large-california-buildings-302326710.html

SOURCE Nostromo

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

MARIANA MINERALS RESTARTS UTAH COPPER MINE AS THE WORLD’S ONLY AUTONOMOUS-FIRST MINE AND REFINERY

Published

on

By

Software-first minerals company integrates autonomous haulage, drilling, and robotic sensing across mining and refining under a single AI operating platform

SAN JUAN COUNTY, Utah, April 27, 2026 /PRNewswire/ — Mariana Minerals, the world’s only software-first, vertically integrated minerals company, today announced the restart of mining operations at Copper One in southeastern Utah. The restart marks a milestone in mining history: Copper One becomes the world’s first mine to deploy autonomous tools across all three operational domains (mining, refining, and capital project execution) unified under a single operating system.

Mariana acquired Lisbon Valley Mining Company in Q4 2025, gaining control of a roughly 10,000-acre permitted land package that has produced high-purity copper cathode since 2009. While refinery operations continued uninterrupted, mining was paused in late 2024. Mining operations resume this month with autonomous systems and autonomous orchestration active from day one.

“Copper One will be the first mine where delivering end-to-end autonomy is the priority, where it’s being rapidly deployed across mining and refining operations and coordinated by our internal software stack. That’s what MarianaOS makes possible. We chose to prove it here because the stakes are real: the U.S. has a structural copper deficit, and the window to close it is narrowing. We’re producing now and ramping output aggressively, with the primary goal of achieving fully-autonomous mining operations,” said Turner Caldwell, Co-Founder & CEO, Mariana Minerals.

MarianaOS: An Autonomy-First Mining Operating System
What makes Copper One unprecedented is not any single piece of autonomous equipment, but the intelligence layer coordinating them. MarianaOS integrates three core subsystems, MineOS, PlantOS, and CapitalProjectOS, into a unified platform spanning project execution through copper production.

On the mining side, Copper One will begin with integrating three best-in-class autonomous equipment platforms. Pronto’s turnkey Autonomous Haulage System (AHS) uses camera-based machine learning and Global Navigation Satellite Systems (GNSS) to enable fully driverless haul truck operation, with OEM-agnostic retrofit capability across mixed fleets. Sandvik’s AutoMine® platform enables autonomous production drilling, allowing operators to simultaneously monitor multiple surface machine operations from a remote-operations control center. And Boston Dynamics’ Spot quadruped robots autonomously patrol the open pit, heap leach pad, and solvent extraction-electrowinning (SX-EW) refinery infrastructure. All of these data feed directly into MineOS, enabling fleet-wide optimization and continuous improvement.

PlantOS extends autonomous operations into refining by integrating real-time sensor data across the entire refining process (solution chemistry, flow rates, temperature, and electrowinning cell performance) into a unified control system. Machine learning models predict process drift, automatically adjust reagent dosing, and flags maintenance needs before they impact output. The result is a continuously optimized refinery that operates with minimal human intervention.

CapitalProjectOS redefines how capital-intensive infrastructure projects are planned and executed. Traditional projects often take a decade or more and frequently suffer from chronic cost overruns. CapitalProjectOS integrates process development, engineering, procurement, construction, and commissioning data into a single platform that enables real-time progress tracking, predictive risk modeling, and automated schedule optimization. At Copper One, CapitalProjectOS is managing the expansion roadmap to scale output to 50,000 metric tons per year, coordinating heap leach pad expansions, refinery upgrades, and autonomous equipment deployment in parallel.

Built to Move Fast
While Mariana is actively constructing and developing greenfield projects – with the goal of compressing engineering, procurement, construction, and commissioning timelines leveraging CapitalProjectOS – Copper One is uniquely positioned to accelerate deployment of MarianaOS at scale. With an existing open pit mine, heap leach pad, and SX-EW refining infrastructure already in place, Mariana will rapidly ramp production that would take years to replicate elsewhere.

Mariana’s longer-term plan is to scale Copper One output to 50,000 metric tons per year of high-purity copper cathode by 2030, leveraging additional proven deposits on the property and integrating copper scrap recycling.

A Critical Supply Gap
The U.S. currently imports approximately 50% of its refined copper. With domestic demand projected to nearly double by 2035 — driven by AI data centers, defense systems, EVs, and grid modernization — the supply gap is a national security issue. The Trump Administration’s Section 232 investigation cited copper imports as a direct concern, and the Pentagon has identified critical minerals vulnerability as a threat to the defense industrial base.

Domestic operations like Copper One, and the step-change in productivity that autonomous operations deliver, have become strategically essential.

About Mariana Minerals
Mariana engineers, builds, and operates mines and refineries, using proprietary AI and machine learning tools to accelerate project execution and optimize production across critically needed metals. Copper One is Mariana’s second active project, alongside Lithium One, the world’s first GWh-scale lithium extraction facility from oil and gas produced water, currently under construction in East Texas. Mariana has raised $120 million in total capital, including a Series A led by Andreessen Horowitz with participation from Breakthrough Energy Ventures, Khosla Ventures, and strategic investors.

View original content to download multimedia:https://www.prnewswire.com/news-releases/mariana-minerals-restarts-utah-copper-mine-as-the-worlds-only-autonomous-first-mine-and-refinery-302753491.html

SOURCE Mariana Minerals

Continue Reading

Technology

State CISOs Report Lower Confidence Across the Public Sector Cyber Ecosystem, 2026 NASCIO-Deloitte Survey Finds

Published

on

By

The 2026 National Association of Chief Information Officers – Deloitte biennial cybersecurity study finds state officials face increasingly sophisticated threats, including new artificial intelligence-enabled tactics, and highlights steps CISOs are taking to better protect public data and critical digital services

NEW YORK, April 27, 2026 /PRNewswire/ — 

Key takeaways

The survey of Chief Information Security Officers (CISOs) from all 50 states and two territories found that just 26% of state CISOs are “extremely” or “very” confident that their state’s information assets are protected from cyber threats, down from 48% in 2022.Implementing effectiveness metrics is now CISOs’ top priority: 49% named it a top cybersecurity initiative in 2026, up from 15% in 2022.Nearly all state CISOs (94%) said they are involved in developing Generative AI security policies and 84% are involved in Generative AI strategy development.Budget pressure is rising with 16% of CISOs reporting their budgets have been cut, up from none in 2024.The percentage of CISOs who described themselves as “not very confident” in the ability of local government and public higher education to secure public data rose significantly, from 35% in 2022 to 63% in 2026.

Why this decline in confidence matters
States share data and systems with counties, cities, and public colleges and universities, so a vulnerability in one network can cascade, exposing personal information, disrupting essential services and driving costly incident response. As attackers adopt AI-enabled tactics, the urgency is growing for faster coordination, clearer policy and stronger baseline defenses across the public sector. This may explain why roughly one-fifth of CISOs indicated that their states were moving toward a “whole-of-state” approach to cybersecurity.

Metrics reporting becomes CISOs’ top priority
Top priorities for CISOs have shifted since the 2024 survey. When asked to identify their states’ top cybersecurity initiatives for 2026, half of CISOs named implementing effectiveness metrics (49%, up from 25% in 2024 and 15% in 2022). Capturing the effectiveness of cyber spending can be difficult, but without metrics, it is challenging to show the benefits of investments. Tracking operational, compliance and risk-based key performance indicators, such as incident response time and phishing click rate, can help demonstrate the return on cyber investment.

AI both accelerates threats and becomes a frontline defense
AI is accelerating the scale and sophistication of attacks targeting public sector systems, making it easier and cheaper for adversaries to generate and automate cyberattacks. CISOs also point to an emerging threat toolkit, including deepfakes that can fool people and evade detection, AI agents that probe for weaknesses and adapt, and AI-driven ransomware-as-a-service operations.

At the same time, CISOs describe AI as a practical way to keep pace, using it to triage security alerts, summarize events, and explore faster report creation, threat identification and training. Several states are already utilizing Generative AI in core security operations, including security information and event management (SIEM) and security orchestration, automation and response (SOAR). The report also underscores how central CISOs have become to state AI efforts.

Key quotes
“We’re seeing more states move toward a ‘whole-of-state’ cybersecurity approach where the state helps extend protection beyond state agencies to local governments, public education and other critical entities that can become an entry point for attackers. At its core, it’s about scaling capabilities through shared services and better collaboration so a weakness in one part of the ecosystem doesn’t become a statewide incident. Many states are looking to scale capabilities through security operations centers and regional support, so counties, cities and schools can benefit from the same cyber-defense muscle as the enterprise.”

Mike Wyatt, Stale local and higher education cyber risk leader, Deloitte

“It’s an encouraging development that state CISOs are being placed at the center of Generative AI security. They are helping shape the strategy, establishing security policies and reviewing proposed use cases. By being involved from the beginning, CISOs are helping governments move faster without sacrificing safeguards because security and governance complement each other. We’re also seeing CISOs explore practical uses of AI to strengthen day-to-day defense, while putting clearer guardrails around responsible uses.”

Meredith Ward, deputy executive director, NASCIO

Additional data
To read the 2026 NASCIO-Deloitte report in its entirety, click here.

About NASCIO
The National Association of State Chief Information Officers is the premier network and resource for state CIOs and a leading advocate for technology policy at all levels of government. NASCIO represents state chief information officers and information technology executives from the states, territories, and the District of Columbia. For more information about NASCIO visit www.nascio.org.

As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of our legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/state-cisos-report-lower-confidence-across-the-public-sector-cyber-ecosystem-2026-nascio-deloitte-survey-finds-302751899.html

SOURCE Deloitte

Continue Reading

Technology

Duck Creek Kicks Off Formation ’26 as Strong Fiscal Momentum Signals Accelerating Demand for its Intelligent Core Insurance Platform

Published

on

By

Company highlights double-digit SaaS growth, global expansion, and launch of its new agentic AI platform as industry leaders gather in Orlando

BOSTON, April 27, 2026 /CNW/ — Duck Creek Technologies, the intelligent core of insurance, today kicks off Formation ’26: Agents of Innovation, its flagship user conference, as the company builds strong momentum in the first half of fiscal 2026, marked by double-digit year-over-year SaaS ARR growth fueled by new logos and expansion across its global customer base.

Duck Creek’s strong start to fiscal 2026 reflects this demand, with double-digit new customer wins and existing customer expansions across its core, specialty, and AI-powered solutions. Adoption of Duck Creek’s intelligent cloud continues to scale globally. Insurers are selecting Duck Creek for its enterprise depth including policy, billing, claims, rating, loss control, reinsurance, distribution management, and payments solutions to operate faster, more accurately, and maintain regulatory compliance.

“We are expanding our leadership in insurance technology with more than 370 customers globally. Including 33 of the top 50 North American insurers,” said Hardeep Gulati, Chief Executive Officer of Duck Creek. “Insurers modernizing their core systems are looking for more from their technology. They need a trusted partner like Duck Creek with proven enterprise scale and speed-to-value to help them drive profitable impact and growth. At Formation, we are excited to announce our new agentic platform that will help further improve the combined ratios for insurers with more than $150B in premium flowing through Duck Creek annually.”

Formation ’26 will bring together more than 800 insurance professionals, ecosystem partners, and industry leaders to explore how technology is transforming the insurance lifecycle. The event underscores growing market demand for intelligent, cloud-native platforms that enable insurers to accelerate cloud migration, product development, and automate core insurance workflows to accelerate decision-making and improve operational agility. A highlight of the event will be Duck Creek unveiling its agentic AI platform and showcasing live demonstrations of agentic applications and agents.

Formation ’26 will feature a distinguished lineup of guest speakers joining Gulati during his keynote, including Stephen Lord, Global CIO of AXIS Capital, and Monti Saroya, Senior Managing Director and Co-Head of the Flagship Fund at Vista Equity Partners. Together, they will share perspectives on large-scale transformation, AI adoption, and the future of agentic insurance.

The conference will also include a customer panel moderated by Chief Operating Officer Chris McCloskey, featuring leaders from Core Specialty, Europ Assistance, and Arbella Insurance, who will discuss their transformation journeys and business outcomes achieved through modern core systems. An analyst panel moderated by SVP of Sales William Magowan will bring together experts from AM Best, Celent, and Datos Insights to provide an external view on market trends and innovation benchmarks.

Customer Momentum

Millers Mutual Insurance advanced its modernization strategy with Duck Creek OnDemand, implementing Policy, Billing, and Reinsurance Clarity to modernize its core systems and support continued growth in the multifamily housing insurance market.Anchor Group Management Inc. partnered with Duck Creek to modernize its insurance payments infrastructure, enabling more streamlined billing processes and improved digital payment experiences for policyholders.Frankenmuth Insurance adopted Duck Creek OnDemand Distribution Management to transform how it manages agencies and producers, increasing visibility, improving operational efficiency, and strengthening collaboration across its distribution network.Indigo Insurance turned to Duck Creek OnDemand to accelerate its modernization strategy and support rapid growth, gaining a scalable cloud-based core platform designed to bring new products to market faster.Encova Insurance went live on an upgraded Duck Creek OnDemand Distribution Management system, unifying agency operations across lines of business, streamlining onboarding, and improving the overall agent experience.New Zealand’s Medical Assurance Society (MAS) selected Duck Creek’s full suite of core solutions delivered via OnDemand to modernize its general insurance business, enhance member experiences, and support a broader digital and data-driven transformation.Country-Wide Insurance selected Duck Creek Clarity to strengthen its data and analytics capabilities, enabling real-time insights and preparing for its upcoming OnDemand go-live with Active Delivery.Fortegra selected Duck Creek Reinsurance and Duck Creek Clarity to modernize financial operations, improve portfolio transparency, and support continued growth across products, geographies, and distribution models.Duck Creek secured more than a dozen additional new customer engagements across commercial specialty and personal lines.

Industry Recognition

Named a Leader in the 2025 Gartner Magic Quadrant for SaaS P&C Insurance Core Platforms North America, marking the seventh consecutive year the company has been recognized as a Leader.Named a Leader in the Everest Group 2025 Underwriting Orchestration Products PEAK Matrix Assessment, recognizing Duck Creek’s strength in delivering AI-driven underwriting, integrated core workflows, and measurable value across global P&C carriers.Featured in Everest Group’s 2026 Voice of the Customer Report for Insurance CXOPs, outperforming both core system peers and the market average, with customers citing strengths in seamless implementation, deep core system integration, and enterprise scalability and more.Received the 2025 IDC FinTech Real Results Award for Insurance Transformation for measurable customer outcomes.

About Duck Creek

Duck Creek is the intelligent core that leading insurers choose to build on. Purpose-built for property and casualty (P&C) and general insurance, Duck Creek unifies the full insurance lifecycle on a single platform with one data foundation. As an agentic platform, it connects intelligence across underwriting, policy, billing, claims, and payments workflows where decisions are made and compliance is non-negotiable. Duck Creek enables carriers to launch products faster, adapt quickly to change, and grow with precision and confidence. Solutions are available individually or as a full suite via Duck Creek OnDemand. Visit www.duckcreek.com and follow Duck Creek on LinkedIn and X.

Media Contacts:  
Marianne Dempsey / Tara Stred  
duckcreek@threeringsinc.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/duck-creek-kicks-off-formation-26-as-strong-fiscal-momentum-signals-accelerating-demand-for-its-intelligent-core-insurance-platform-302753478.html

SOURCE Duck Creek Technologies, Inc.

Continue Reading

Trending