NEW YORK, July 14, 2025 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP ("Scott+Scott"), an international shareholder and consumer rights litigation firm, has filed a securities class action lawsuit in the United States District Court for the Southern District of California against XPLR Infrastructure, LP f/k/a Nextera Energy Partners, LP ("XPLR" or the "Company") (NYSE: XIFR), and certain of its former and current officers and/or directors (collectively, "Defendants"). The Class Action asserts claims ...

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Core Viewpoint - A securities class action lawsuit has been filed against XPLR Infrastructure, LP, alleging misleading statements and omissions regarding the company's financial condition and business model during the class period from September 27, 2023, to January 27, 2025 [1][3]. Company Overview - XPLR Infrastructure, LP, formerly known as Nextera Energy Partners, LP, focuses on acquiring, owning, and managing contracted clean energy projects in the United States, including wind and solar power projects and a natural gas pipeline [2]. Allegations in the Class Action - The lawsuit claims that during the class period, the defendants made misleading statements about XPLR's operations as a yieldco, which is a business model focused on delivering cash distributions to investors [3]. - Specific allegations include: - XPLR was struggling to maintain its yieldco operations [3]. - Defendants entered financing arrangements to temporarily alleviate operational issues while downplaying associated risks [3]. - The company could not resolve these financings before maturity without risking significant unitholder dilution [3]. - Defendants planned to halt cash distributions to redirect funds to resolve financing issues [3]. - The yieldco business model and distribution growth rate were deemed unsustainable [3]. - Public statements made by the defendants were materially false and misleading [3]. Market Reaction - On January 28, 2025, XPLR announced it would suspend cash distributions to common unitholders and abandon its yieldco model, leading to a significant drop in the stock price from $15.80 to $10.49 per unit, a decline of nearly 35% [4].

Core Viewpoint - The XPLR Infrastructure class action lawsuit alleges that the company and its executives made misleading statements regarding its financial health and operations as a yieldco, leading to significant losses for investors during the specified class period [1][3][4]. Company Overview - XPLR Infrastructure, formerly known as NextEra Energy Partners, LP, is involved in acquiring, owning, and managing contracted clean energy projects in the U.S., including wind and solar power projects and a natural gas pipeline [2][3]. Allegations of the Lawsuit - The lawsuit claims that during the class period, XPLR Infrastructure faced operational struggles as a yieldco and entered financing arrangements that were downplayed in terms of risk [3]. - It is alleged that the company could not resolve these financing issues before their maturity without risking significant dilution for unitholders [3]. - The lawsuit further states that XPLR Infrastructure planned to suspend cash distributions to investors to address these financial challenges, indicating an unsustainable business model [3][4]. Impact of Announcements - On January 28, 2025, XPLR Infrastructure announced the suspension of cash distributions to common unitholders and the abandonment of its yieldco model, resulting in a nearly 35% drop in the price of its common units [4]. Legal Process - Investors who purchased XPLR Infrastructure securities during the class period have until September 8, 2025, to seek appointment as lead plaintiff in the class action lawsuit [1][5]. - The lead plaintiff will represent the interests of all class members and can select a law firm to litigate the case [5]. Law Firm Background - Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in securities fraud and shareholder litigation, having secured over $2.5 billion for investors in 2024 alone [6]. - The firm has a strong track record in obtaining significant recoveries in securities class action cases [6].

Core Insights - N2OFF, Inc. has completed a $2.7 million investment for the development of two Battery Energy Storage Systems (BESS) in Sicily, Italy, each with a capacity of 98MWp/392MWh [1][3] - The combined capacity of the BESS projects is approximately 196 MWp, valued at up to $13.5 million based on an estimate of $70,000 per MW [2][3] - The projects are designed to enhance grid stability and have secured preliminary grid connection approvals from Terna SpA, with expectations to achieve Ready-to-Build (RTB) status within 18-24 months [3][4] Company Overview - N2OFF, Inc. is a cleantech company focused on sustainable energy solutions and "Agrifood" tech, recently entering the solar market and funding various projects in the EU [5] - The company has invested over $1.2 million in its 70%-owned Italian subsidiary, which is involved in the BESS projects [1][5] - N2OFF's majority-owned Israeli subsidiary, Save Foods Ltd., focuses on post-harvest treatments for fruits and vegetables to prevent pathogen contamination [5] Market Context - Italy's solar market is experiencing strong growth, supported by government incentives and increasing public awareness of sustainability [4] - Solar electricity generation in Italy is projected to reach 36.47 billion kWh in 2025, with an annual growth rate of 6.86% from 2025-2029 [4] - Italy aims for 52 GW of solar capacity by 2030 and 74.6% renewable electricity by 2050 [4]

Core Viewpoint - Houston American Energy Corp. has secured a $5 million Convertible Note to fund part of the acquisition of a 25-acre site at Cedar Port Industrial Park, aimed at developing a plastics-to-low-carbon fuels hub [1][4]. Group 1: Acquisition Details - The acquisition site is located in the largest rail and barge-served industrial park in the U.S., providing logistical advantages for transporting feedstock and low-carbon fuels [2]. - The expected closing date for the acquisition is July 2025, with a total cost of approximately $8.5 million [4]. Group 2: Financial Instrument - The Senior Secured Convertible Note has an 8% Original Issue Discount for a face amount of about $5.4 million and carries a 7% interest rate, maturing on July 10, 2026 [3]. - The Note is convertible into common shares at a price representing a 10% premium to a defined look-back price, which is the lower of the closing price on the day prior to signing or the five-day average closing price [3]. Group 3: Company Overview - Houston American Energy Corp. is an independent energy company with a diversified portfolio in both conventional and renewable sectors, focusing on oil and natural gas exploration and production [5]. - The company has recently acquired Abundia Global Impact Group, which specializes in converting waste plastics into low-carbon fuels, reflecting its commitment to sustainable energy solutions [5].

Core Viewpoint - A class action lawsuit has been filed against XPLR Infrastructure LP (NYSE: XIFR) on behalf of investors who acquired its securities between September 27, 2023, and January 27, 2025, due to allegations of misleading information regarding its yieldco business model [1][2]. Group 1: Allegations and Business Model - The complaint alleges that XPLR was struggling to maintain its operations as a yieldco and had entered into financing arrangements while downplaying associated risks [2]. - It is claimed that XPLR could not resolve its financing issues before maturity without risking significant unitholder dilution, leading to plans to halt cash distributions to investors [2]. - The sustainability of XPLR's yieldco business model and distribution growth rate was called into question due to these issues [2]. Group 2: Strategic Changes and Market Reaction - On January 28, 2025, XPLR announced it was abandoning its yieldco business and indefinitely suspending cash distributions to unitholders, shifting to a model utilizing retained operating cash flows for investments [3]. - Following this announcement, XPLR's common unit price fell from $15.80 on January 27, 2025, to $10.49 on January 29, 2025, marking a decline of $5.31 per unit, or nearly 35% [3]. Group 3: Legal Proceedings - Shareholders interested in participating in the class action must file their papers with the court by September 8, 2025, to serve as lead plaintiff [4]. - A lead plaintiff acts on behalf of other class members in directing the litigation, but participation is not required for recovery eligibility [4].

Core Viewpoint - The XPLR Infrastructure class action lawsuit alleges that the company and its executives made misleading statements regarding its operations and financial health, leading to significant losses for investors during the specified class period [3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Alvrus v. XPLR Infrastructure, LP and involves purchasers of XPLR Infrastructure securities from September 27, 2023, to January 27, 2025, with a deadline of September 8, 2025, to seek lead plaintiff status [1]. - XPLR Infrastructure operates as a "yieldco," managing contracted clean energy projects, including wind and solar power, and a natural gas pipeline [2]. Group 2: Allegations Against XPLR Infrastructure - The lawsuit claims that XPLR Infrastructure struggled to maintain its yieldco operations and entered financing arrangements that were downplayed in terms of risk [3]. - It is alleged that the company could not resolve these financing issues without risking significant dilution of unitholder value, leading to a planned halt in cash distributions to investors [3]. - On January 28, 2025, XPLR Infrastructure announced the suspension of cash distributions and the abandonment of its yieldco model, resulting in a nearly 35% drop in the price of its common units [4]. Group 3: Lead Plaintiff Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased XPLR Infrastructure securities during the class period to seek lead plaintiff status, representing the interests of the class [5]. Group 4: About Robbins Geller - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [6].

Company Overview - Gevo, Inc. is a diversified energy company focused on producing renewable products, including synthetic aviation fuel, motor fuels, and chemicals, aimed at enhancing energy security and supporting rural economic growth [4] - The company operates one of the largest dairy-based renewable natural gas (RNG) facilities in the U.S. and has an ethanol plant with a carbon capture and sequestration facility [4] Recent Financial Developments - Barclays Capital Inc. has purchased $40 million of newly issued non-recourse tax-exempt private activity bonds for Gevo's subsidiary, Gevo NW Iowa RNG, LLC, which will refinance $40 million of previously issued bonds [1] - This refinancing allows Gevo to release $40 million of restricted cash and improve its balance sheet liquidity by approximately $30 million after transaction costs [1][2] Renewable Natural Gas Operations - Gevo RNG generates RNG by collecting manure from dairy farms and using anaerobic digesters to produce biogas, which is refined for use as a sustainable transportation fuel [3] - The company has received CARB certification for a carbon intensity score of negative 339 gCO2e/MJ, which will be used for California's Low Carbon Fuel Standard credits, potentially yielding over 175,000 metric tons of greenhouse gas emissions reductions annually [3] Future Plans - Gevo plans to release additional restricted cash later in the year by refinancing the remaining balance of the previous bonds through another series of 2025 Bonds [2] - The company is exploring opportunities for scaling and margin expansion in its RNG business and aims to leverage synergies with its other business lines [3]