Post Merger/DeSPAC Highlights (Oct, 07 – Oct, 13)

ConnectM Acquires Green Energy Gains to Expand Electrification Solutions

ConnectM Technology Solutions Inc. (CNTM)
Monterey Capital Acquisition Corp (MCAC)

ConnectM, a technology company focused on electrification, has acquired Green Energy Gains, a home energy assessment company. This strategic acquisition expands ConnectM’s customer base for its electric heat pumps and provides access to Green Energy Gains’ network of HVAC contractors. The acquisition allows ConnectM to offer homeowners comprehensive electrification solutions, including energy assessments, weatherization, and heat pump installation, while also leveraging Green Energy Gains’ expertise in accessing local, state, and federal incentives. This move strengthens ConnectM’s position in the growing electrification market and supports its commitment to sustainable energy solutions.

Greenfire Resources Announces Growth Plans to Increase Production Capacity by 74%

Greenfire Resources (GFR)
M3-Brigade Acquisition III Corp. (MBSC)

Greenfire Resources, a Canadian energy company focused on thermal oil sands production, has announced ambitious growth plans to significantly increase its production capacity. These plans include:

• Modernized drilling strategy: Implementing extended reach and curved SAGD wells to enhance production and recovery rates while reducing costs.
• Super Pad design: Consolidating well pads to optimize infrastructure and minimize costs.
• Expansion Asset development: Utilizing existing plant capacity and potential brownfield expansion to increase production.
• Relocation of McKay SAGD facility: Relocating an acquired facility to add production capacity at a lower cost.
• Demo Asset optimization: Restarting existing processing facilities to increase production.

These initiatives are expected to increase Greenfire’s net production capacity by 74% to approximately 58,800 bbls/d. The company anticipates these growth plans will improve cost structure, increase free cash flow generation, and deliver significant value to shareholders. Greenfire believes its strong asset base, low sustaining capital requirements, and focus on operational efficiency position it as an attractive investment opportunity in the thermal oil sands sector.

Core Scientific Reports September Bitcoin Production and Updates on HPC Expansion

Core Scientific, Inc./tx (CORZ)
Power & Digital Infrastructure Acquisition Co (XPDI)

Core Scientific, a leader in digital infrastructure for Bitcoin mining and high-performance computing (HPC), released its September production and operations updates. The company mined 345 Bitcoin in September, bringing its year-to-date total to 5,621.

Core Scientific is actively transitioning its infrastructure to support HPC, with a focus on AI applications. This includes modifying existing data centers and constructing new ones to provide nearly 400 megawatts of capacity for HPC clients. Progress has been made in migrating Bitcoin miners to accommodate the HPC expansion, and work has commenced on a new 100-megawatt data center in Muskogee, Oklahoma.

The company remains committed to its HPC strategy and expects to deliver the upgraded infrastructure to its HPC customer in the first half of 2025. This shift towards HPC represents a strategic move to capitalize on the growing demand for AI-driven computing power.

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