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Algonquin Power & Utilities Corp. Appoints Arthur Kacprzak as Chief Financial Officer




OAKVILLE, ON, Sept. 18, 2020 /PRNewswire/ – Algonquin Power & Utilities Corp. (“APUC,” “Algonquin” or the “Company”) (TSX: AQN) (NYSE: AQN) announced today the appointment of Arthur Kacprzak as Chief Financial Officer (“CFO”), assuming the role upon the retirement of  CFO David Bronicheski.  This transition is part of a multi-year initiative that was undertaken by APUC’s Board of Directors to support a smooth shift to new leadership while maintaining the Company’s strong track record of growth and delivering long-term shareholder value.

Mr. Bronicheski has been transitioning the CFO accountabilities to Mr. Kacprzak since early in the year when the pending retirement was first announced and Mr. Kacprzak was named Senior Vice President and Deputy Chief Financial Officer.  Mr. Kacprzak joined Algonquin in 2012, and has led the Company’s Treasury function. Through the course of his career, he has gained more than 20 years of experience in corporate finance, treasury, accounting, taxation and management consulting.

Mr. Kacprzak holds a Bachelors of Commerce degree from the University of Toronto and a Global Professional Master of Laws degree from the University of Toronto Faculty of Law.  He is a Chartered Accountant as well as a CFA Charterholder. 

“I am extremely pleased to welcome Arthur into the CFO role,” said Arun Banskota, President & Chief Executive Officer of Algonquin. “At $11 billion in assets, Algonquin is one of North America’s fastest growing utilities, a global leader in renewable energy solutions, and a member of the blue chip TSX60 index. David’s strong leadership and finance expertise over the last twelve years has contributed hugely to that success.  We are immensely grateful for David’s many contributions to Algonquin, and wish him much happiness in his retirement. I have full confidence that Arthur will continue the tradition of strong financial leadership and balance sheet management that has contributed over the years to Algonquin’s long-term success.” 

About Algonquin Power & Utilities Corp., Liberty Utilities, Liberty Power

APUC is a diversified international generation, transmission and distribution utility with approximately U.S. $11 billion of total assets. Through its two business groups, Liberty Utilities and Liberty Power, APUC is committed to providing secure, safe, reliable, cost-effective, and sustainable energy and water solutions through our portfolio of rate-regulated natural gas, water, and electricity generation, transmission and distribution utility investments to approximately 807,000 connections in the United States and Canada.  APUC is a global leader in renewable energy through its portfolio of long-term contracted wind, solar and hydroelectric generating facilities representing over 2 GW of installed capacity and more than 1.6 GW of incremental renewable energy capacity under construction.

APUC is committed to delivering growth and the pursuit of operational excellence in a sustainable manner through an expanding global pipeline of renewable energy, electric transmission, and water infrastructure development projects, organic growth within its rate-regulated generation, distribution, and transmission businesses, and the pursuit of accretive acquisitions.

APUC’s common shares, Series A preferred shares, and Series D preferred shares are listed on the Toronto Stock Exchange under the symbols AQN, AQN.PR.A, and AQN.PR.D, respectively. APUC’s common shares, Series 2018-A subordinated notes and Series 2019-A subordinated notes are listed on the New York Stock Exchange under the symbols AQN, AQNA and AQNB, respectively.

Visit APUC at and follow us on Twitter @AQN_Utilities.

Caution Regarding Forward-Looking Information

Certain written statements included herein constitute “forward-looking information” within the meaning of applicable securities laws in each of the provinces of Canada and the respective policies, regulations and rules under such laws and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995  (collectively, “forward-looking statements”). The words “will”, “expects”, “intends”, “plans”, “should” and similar expressions are often intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Specific forward-looking statements contained herein include, but are not limited to statements regarding the expectations regarding the CFO transition and the expected performance of APUC, including the delivery of long-term shareholder value. These statements are based on factors or assumptions that were applied in drawing a conclusion or making a forecast or projection, including assumptions based on historical trends, current conditions and expected future developments. Since forward-looking statements relate to future events and conditions, by their nature they rely upon assumptions and involve inherent risks and uncertainties. APUC cautions that although it is believed that the assumptions are reasonable in the circumstances, actual results may differ materially from the expectations set out in the forward-looking statements. Material risk factors and assumptions include those set out in APUC’s most recent annual and interim Management Discussion and Analysis and most recent Annual Information Form, filed with securities regulatory authorities in Canada and the United States. Given these risks, undue reliance should not be placed on these forward-looking statements, which apply only as of their dates. Other than as specifically required by law, APUC undertakes no obligation to update any forward-looking statements to reflect new information, subsequent or otherwise.

SOURCE Algonquin Power & Utilities Corp.

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The Rockefeller Foundation commits USD1 billion to catalyze a green recovery from pandemic




NEW YORK, Oct. 26, 2020 /PRNewswire/ — The Rockefeller Foundation will commit USD1 billion over the next three years to catalyze a more inclusive, green recovery from the Covid-19 pandemic. Building on current efforts and long-standing programs, the Foundation will focus on two key areas: catalyzing billions of dollars in private and concessional investments to scale distributed renewable energy across developing countries; and ensuring more equitable access to Covid-19 tests and vaccines, science-based tools, and data to fight the pandemic, while strengthening public health systems to prevent future outbreaks. In addition to this unique, one-time commitment of additional resources, The Rockefeller Foundation’s efforts and energies, as a whole, will be rededicated and reoriented toward improving the lives of the world’s poorest people and addressing inequities made worse by this virus.

“There’s no going back to the past, to before-Covid. We need to reimagine the future we want,” said Dr. Rajiv J. Shah, President of the Rockefeller Foundation. “To meet this moment, we must leverage all our resources and relationships to build an equitable, sustainable future, where everyone has the opportunity to realize their full potential and climate disaster is avoided. The time to act is right now to make sure vulnerable children and families are included in the pandemic response and recovery.” 

Prior to the pandemic, half the world’s population lacked access to essential health services, and more than 800 million people worldwide lacked access to electricity. Billions more have their potential diminished by unreliable or insufficient energy access, predominantly provided by carbon-emitting fuels. The energy accessibility gap has further widened because of the pandemic. This year alone, more than 100 million people have seen their electricity access severed because they couldn’t pay their bills during the pandemic, with the toll falling disproportionately on the poor and most vulnerable. The World Bank also estimates that the combined impact of climate change and the damage done by Covid-19 will push 132 million people into poverty.

This calls for bold action to address these disparities and ensure a global response that assures a more inclusive, sustainable future for all.

Green power equals more inclusive opportunity

Over the past decade, The Rockefeller Foundation has made ending energy poverty in a clean, sustainable way a priority around the world. Providing reliable electricity to communities that often receive the brunt of climate change is essential to creating the economic opportunity for them to lift themselves out of poverty. As a result of pioneering breakthroughs in distributed renewable energy technologies, it is now possible to end energy poverty in ten years without accelerating carbon emissions. Compared to conventional grid-based electrification, scaling these technologies to provide green energy to half a billion people would save 1.5 billion tons of CO2 emissions over the next decade. Access to energy can also boost the irrigation, crop yields, and productivity of local agriculture. Farmers can further protect crop values with cold storage or increase their returns with post-harvest processing. 

“Over the past decade, our Smart Power Initiative’s investments have improved the lives of almost 500,000 people in India, Myanmar, and parts of sub-Saharan Africa, so we know this can work,” said Ashvin Dayal, Senior Vice-President of the Power & Climate Initiative at The Rockefeller Foundation. “By refining the business case for distributed renewable electrification and deepening our technical knowledge of mini grid systems and their impact on people’s lives and livelihoods, we paved the way for the launch of a partnership with Tata Power, TP Renewable Microgrid (TPRMG). This effort is expected to invest $1 billion by 2026, deploying up to 10,000 mini grids that will provide clean energy to 5 million households, create 10,000 new green jobs, support 100,000 rural enterprises, deliver irrigation to 400,000 farmers, and in total, provide access to reliable power for more than 25 million people across the communities they serve.”

Collaborating with global investors, international organizations, and governments, the Foundation will focus on driving historic public-private investment in infrastructure that accelerates access to clean, safe, and reliable renewable energy across Africa, Asia, and Latin America.

Increasing healthcare access to end the pandemic

Earlier this year, The Rockefeller Foundation, with support from an ideologically diverse team of top scientists, industry, technologists, and economists, launched a U.S. National Covid-19 Testing & Tracing Action Plan. It also collaborated with federal, state, and local leaders to increase access to Covid-19 testing, overall, with a particular focus on vulnerable communities all across America. Given the scale of the current crisis, the Foundation will continue to increase its investment in the U.S. and around the world to expand access to screening tests, treatments, and vaccines when they become available. Better data can identify communities at high risk for chronic and infectious disease and other health issues, directing resources to where they are needed most and targeting preventative interventions more precisely. Using predictive analytics, among other technologies, can better prevent a disease outbreak from becoming a pandemic.

“For too long, a person’s health has been determined by who they are and where they live,” said Dr. Naveen Rao, Senior Vice President of the Health Initiative at The Rockefeller Foundation. “We have an unprecedented opportunity to close the health inequity gap by driving innovation and investment to the most vulnerable communities around the world. This focus is our way of doubling down on our commitment to modernize public health and provide equitable health outcomes.”

The Rockefeller Foundation’s history of meeting the moment:

The Foundation, which received “Aaa/AAA” ratings for its $700 million of Series 2020 Taxable Bonds by Moody’s and S&P at the end of September, will leverage both its endowment and the proceeds from its first-ever bond offering for charitable purposes to finance much of this work. The billion-dollar commitment marks the single largest in the Foundation’s 107-year history, which has distributed more than $22 billion since its inception. While this is the first time the Foundation will use money for grants outside the original bequest of its founder, John D. Rockefeller, it aligns with his vision to encourage scaled investment and seek and utilize creative and science-based solutions to intractable problems.

The Foundation has a storied history of taking decisive and timely actions that have altered the course of events. In its first 40 years, the Foundation started the modern field of public health, along with playing a key role in fighting the 1918 influenza pandemic, helping to eradicate hookworm in the United States, and seeding the development of the Yellow Fever vaccine. During the next 40 years, the Foundation launched the Green Revolution that transformed farming and kept hundreds of millions from starvation.

All of this was done while also investing in innovations that built telescopes and cyclotrons and convening the very best in their fields to solve the world’s most pressing problems, including the late U.S. Supreme Court of Justice Ruth Bader Ginsburg. Over the course of the 20th century, the Foundation also helped create U.S. Social Security, supported America’s Historically Black Colleges and Universities, and the groundbreaking Voter Education Project, led by civil rights icon the late U.S. Congressman John Lewis. In addition, it changed the course of philanthropy with “impact investing” in 2007.

This new billion-dollar commitment marks the start of the next chapter.

The Rockefeller Foundation

The Rockefeller Foundation advances new frontiers of science, data, and innovation to solve global challenges related to health, food, power, and economic mobility. As a science-driven philanthropy focused on building collaborative relationships with partners and grantees, The Rockefeller Foundation seeks to inspire and foster large-scale human impact that promotes the well-being of humanity throughout the world by identifying and accelerating breakthrough solutions, ideas, and conversations. For more information, sign up for our newsletter at and follow us on Twitter @RockefellerFdn.

SOURCE The Rockefeller Foundation

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PJM Named a Top Adoption-Friendly Company in the United States for 14th Consecutive Year




Adoption assistance remains a rare benefit offered by employers. Just one in 10 companies offered adoption-friendly employee benefits in 2019, according to an annual survey of employee benefits by the Society for Human Resources Management, an industry trade group.

When accountant Mark Fioresi joined PJM in 2016, the company’s financial assistance for adoption helped start the expensive three-year journey to expand his family and add a second adopted child. Last year, Hannah arrived from a birth mother near Reading to join Mark and his wife Lauren and big sister Hannah, age 6, in their Bucks County home.

The substantial financial assistance provided by PJM’s adoption benefit “was something that took a weight off our shoulders,” Fioresi said. “Nobody thinks of the financial impact of adoption. The cost of adopting two is equivalent to putting an addition on our house.”

Family-friendly benefits at PJM seek to support employees and their families wherever possible, said Nora Swimm, Senior Vice President – Corporate Client Services.

“We are proud to be recognized for our commitment to helping employees growing their families through adoption,” Swimm said. “As we continually create a better workplace, adoption benefits reflect our commitment to supporting employees and families.”

Scott Baker, Senior Business Solution Analyst – Applied Innovation, and his wife, Katie, made use of PJM’s adoption benefits after adopting their infant daughter Morgan in 2019.

“We knew adoption was how we wanted to build our family, and we are so thrilled that Morgan is finally a part of it,” Baker said. “We couldn’t imagine it any other way.”

While the couple was prepared to shoulder the financial burden of adoption expenses, Baker said they were grateful “we had this great benefit to lean on.”

The annual October announcement of the 100 Best Adoption-Friendly Workplaces list precedes National Adoption Month, a campaign to raise awareness for children in foster care. Wendy’s founder Dave Thomas, himself an adopted child, was a lifelong champion of adoption.

Each year since 2002, the foundation has surveyed the nation’s employers for its ranking of the 100 Best Adoption-Friendly Workplaces. The annual survey weighs adoption-friendly corporate policies, including financial reimbursement for the costs of adoption and paid leave for employees.

Go to the Dave Thomas Foundation for more information on adoption and to see a listing of honored companies.

PJM Interconnection, founded in 1927, ensures the reliability of the high-voltage electric power system serving 65 million people in all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia and the District of Columbia. PJM coordinates and directs the operation of the region’s transmission grid, which includes over 84,042 miles of transmission lines; administers a competitive wholesale electricity market; and plans regional transmission expansion improvements to maintain grid reliability and relieve congestion. PJM’s regional grid and market operations produce annual savings of $3.2 billion to $4 billion. For the latest news about PJM, visit PJM Inside Lines at

SOURCE PJM Interconnection

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Defining Value in Supplier Selection: An NSK Perspective




Most successful manufacturers are keenly aware of the pivotal role capital equipment plays in their success. They invest care and time in the purchase-decision process and are judicious in the selection of their suppliers. However, there is a temptation to place less importance on the support and maintenance components for this equipment. Aftermarket items like bearings, lubricants, lines and couplings are often warehoused as expendable commodities, selected principally on price, and open to the lowest bidder.

But in the modern lean manufacturing environment, each operation is dependent on the smooth, reliable functioning of every other operation.

On a continuous casting machine in a steel mill, the unexpected premature failure of an upstream bearing necessitates a shutdown of the entire line. If an industrial air compressor feedline leaks or a motor bearing seizes, every pneumatic production process stops. As we know, in the industrial environment time is – literally – money. A systemic shutdown, failure mode investigation and analysis, repair, and restart takes time (money). A lot of time (money).

Supplier Selection is More Than Just Parts

It is the unexpected, unplanned interruption that is the curse of any productive operation. To minimize these incidents, smart manufacturers look for suppliers with not just good products, but also whose technical know-how and in-the-field experience can forestall a production stoppage. Whose intimate knowledge of both their product and your production environment can help anticipate, organize, and execute efficient, prescheduled maintenance and repairs. Suddenly, the value of an aftermarket supplier who brings more than just product to the table becomes clear.   

How to choose the right supplier

Here are critical considerations for vetting any aftermarket supplier, to ensure your operation is enjoying the greatest value across your entire supply chain.

  • Commitment to client success: they demonstrate product technology and investment beyond form, fit, function and price
  • A global and multi-industry profile: the capacity to supply from global sources to global customers, and a demonstrated expertise across diverse industries, providing operational insights less experienced suppliers cannot
  • A comprehensive yet flexible technical interface: from simple technical data and accessible content, to exchangeable design tools, to partnering technically with the client to optimize process design, manage projects, and support on-site maintenance
  • Strong channel relationships: solid business, inventory, logistical structures between essential manufacturers and distributors

How Can a Superior Supplier Impact Operations

If we proceed from the industry axiom that the purchase price of a component is a very minor percentage – 15% – of the total operating costs of that component, we need to select suppliers based on their ability to impact that remaining 85%. Here’s how they do it.

  • Their product is better: superior design and quality, built to last
  • They’re experts in their business: they identify and recommend alternative solutions that will last longer and perform with greater energy efficiency
  • They’re experts in your business: they have the engineering depth to spearhead machine redesign or modifications, to achieve higher machine efficiency
  • They fix what they sell: they identify and recommend improvements in maintenance practices, to extend product life and service intervals, and achieve higher machine efficiency
  • They have dirt under their fingernails: they’re active in the field assisting with installations, troubleshooting, and monitoring machine performance
  • They’re frugal with your money: they reduce working capital investment in inventories, through stores and logistics management between manufacturer and distributor
  • They are valued advisors: they have knowledge to share, and readily make their proficiency an asset for the end user

The Benefits of a Good Bearings Supplier Relationship

When you introduce a genuinely committed aftermarket supplier to your operational equation, the benefits are manifold. It fosters transparent and goal-focused communication. It promotes collaboration, alignment for improvement, and a culture of winning. It includes but transcends mere peace of mind – it drives the integration of processes, engendering ownership and responsibility on the supplier. Ultimately, it closes the gap between the theoretical, calculated component life and real life.

The Competitive Advantages

The operational impact of a dedicated, active supplier base can drive substantive and lasting advantages to a manufacturer’s profile, lifting them above the noise and a sea of competitors. These benefits are transformational: success breeds greater success:

  • Leverage supplier-improved cost and process efficiencies into competitive differentiators and selling advantages
  • Accelerate speed-to-supply from improved reliability, productivity and uptime
  • Accelerate speed-to-develop and go-to-market timeframes for new products, supported by a robust technical interface and project management support from suppliers

Partnering with the most capable suppliers, who are continually vested in your success, means a fully responsible and unified effort behind your operation, every day – working to actively prevent downtime and ensuring 100% capacity and efficiency.

Partnering you towards machine optimisation

NSK’s AIP Added Value Programme is based around a simple proposition: ‘improvement pays’. By working with you throughout the AIP Value Cycle, we will help you achieve improvements in machine reliability, productivity and performance, all of which carry a tangible and measurable cost benefit – and we have the tools to prove it! That’s what we mean by improvement pays.

Start improving with AIP today.  It is a proven and practical tool that delivers real cost-savings and performance improvements. It works across all sectors, so get in touch and experience the benefits today.

To learn more about the real impact a superior supplier can have on your bottom line, visit www.NSK.COM/Services/AIP/  or contact the Distributors nearest to you.

About NSK Ltd.

NSK started its journey manufacturing the first bearings in Japan in 1916, and has since developed into a global organization researching, designing, and manufacturing Motion & Control solutions supporting essential mobility and industrial applications. NSK is currently the top supplier of bearings in Japan, and is the third largest supplier in the world by market share.

Our responsive products and technologies are used to enhance performance and productivity while reducing energy consumption. In the early 1960s we set our sights outside Japan, and have established business locations across 30 countries.

NSK Corporate Philosophy

NSK contributes to a safer, smoother society and helps protect the global environment through its innovative technology integrating Motion & Control. As a truly international enterprise, we are working across national boundaries to improve relationships between people throughout the world.

Global Aftermarket will like to extend our special thanks to Mr. Mike Stofferahn, Senior Vice President, Executives of NSK Americas for the contribution of this Thought leadership article.



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