Business Wire News

Neara is expanding globally, with a strategic focus on the U.S., to help energy providers manage the growing impact of climate change and extreme weather, improve network safety and reliability, and accelerate the integration of clean energy

SYDNEY, Australia--(BUSINESS WIRE)--Neara, a provider of cloud-based digital twin solutions for global utilities, today announced it secured USD14M (AUD20M) in Series B funding led by Skip Capital, and joined by Square Peg Capital (who led Neara’s Series A raise) and OIF. The Australian-based SaaS platform will use this latest funding to expand its global footprint (with a particular focus on further growing its U.S. presence), and broaden its platform functionality, including into new industries. Following its USD5M (AUD7.25M) Series A secured in 2021, Neara’s Series B brings its investment total to USD19M (AUD27.25M) to date.


Neara solves the greatest issues faced by utilities, including an increasingly unstable climate, extreme weather events, and commitments to scale up renewable energy generation. Neara creates digital models of entire infrastructure networks which enable utilities to prepare for and better withstand weather emergencies. It also enables the complex engineering analysis required to optimize existing networks and integrate renewables far more efficiently and effectively.

“The critical infrastructure we all rely on daily for fundamental needs like electricity is under pressure from annual weather emergencies like floods and fires. The utility industry is spending billions physically assessing and maintaining their aging assets, and simultaneously trying to resolve how to integrate renewable assets. Our platform enables a holistic approach to addressing these key challenges while enabling leaps forward in cost reduction, safety, and reliability for our customers and the communities they serve,” said Jack Curtis, Chief Commercial Officer at Neara.

Founded in 2016 by ex-Google software engineer Daniel Danilatos, Neara uses artificial intelligence and machine learning to create a dynamic ‘digital twin’ - a virtual model of an infrastructure network. Neara’s software can be used to design or redesign parts of the network, analyze potential risks, and manage physical assets with a sophisticated physics and engineering engine.

To date, Neara has modeled ~390K total network miles, ~510K total network square miles (larger than the area of California and Texas combined), and ~2.4M total number of assets, covering distribution, sub-transmission, and transmission structures.

Since its Series A funding, Neara has been working with a number of U.S. utilities, helping to pilot a suite of digital solutions. With its Series B, it will accelerate its growth throughout the country to assist more network operators impacted by the ever growing electricity disruptions caused by weather and aging infrastructure. The company plans to double its U.S. staff in the next six months.

“We are delighted to lead this round and really excited about Neara’s global potential,” said Kim Jackson, Head of Skip Capital. “This is our third investment in the company and they continue to impress us with their product, focus and vision. They have already digitally modeled more than half of Australia’s electricity network, helping to transform the way utilities operate their infrastructure and respond to weather crises such as wildfires and floods, which have now become regular events. I am excited about their expansion globally, especially with utilities in the U.S. and Europe.”

James Tynan, Neara’s lead investor at Square Peg Capital, added, “We’re thrilled to be backing Dan and the team at Neara as they leverage the power of software to help utilities transform. It’s obvious to see that solutions like Neara are required to protect communities from the effects of climate change while also helping utilities to design, analyze and manage the changes to their network that are necessary to hit climate targets.”

“Partnering with Neara has allowed us to evolve our digital asset management capability so that we are more agile in our decision-making,” said Luke Jenner, Chief Operating Officer at Essential Energy. “In a changing climate where we’re already seeing the effects of unprecedented natural disasters impacting our customers, our team can now use digital twin modeling to assess scenarios across the network and determine how resilient our network assets are under various environmental conditions and stresses. This allows us to forecast network reliability and balance our customer’s expectations of performance with the required investment to achieve network resilience.”

For more information about Neara, visit www.neara.com or email This email address is being protected from spambots. You need JavaScript enabled to view it..

About Neara

Neara is a physics-based platform that builds 3D interactive models of critical infrastructure networks and assets, providing the ability to run real-world scenarios, assess current and future risk, and prioritize maintenance and disaster response. Neara is focused on connecting industry knowledge and data with our digital twin technology to solve the complex problems facing infrastructure companies globally. We share our customers’ goals for safety and reliability, and are committed to their success by collaborating with them to realize sustainable value through our transformative solutions. Neara has offices in Australia, North America, and Europe. For more information visit www.neara.com.


Contacts

Sylvester Palacios
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210-951-3313

 

10-year diverse supplier spend reaches $6.4 billion

CHICAGO--(BUSINESS WIRE)--ComEd spent $893 million with businesses owned by women, people of color and veterans in 2021, or 42% of its total supply chain spend, bringing its diverse supplier spend since 2012 to $6.4 billion. Maintaining its focus on investing locally, ComEd spent $641 million, or more than 71% of its total diverse spend last year, with Illinois-based suppliers, as detailed in the company’s annual report to the Illinois Commerce Commission, which regulates the state’s public utilities.


“Hundreds of diverse suppliers play critical roles on our power grid and throughout our company, and the transition to clean energy will create even more opportunities for them to grow and make a positive impact within their communities,” said Gil Quiniones, CEO, ComEd. “Investing in businesses owned by people of color, women and veterans is one of our greatest opportunities to build equity throughout our service territory.”

ComEd partners with 662 diversity-certified suppliers, including 153 added last year, and they work throughout the company in utility construction, engineering, and materials, among others. A growing sector for diverse suppliers is energy efficiency, which is expected to accelerate as a result of the Climate and Equitable Jobs Act, which increases funding for expanded offerings with an emphasis on income eligible customers. To take full advantage of the opportunity, ComEd is partnering with diverse supplier Walker-Miller Energy Services, an energy efficiency specialist, led by CEO Carla Walker-Miller. It will focus on supplier and customer engagement.

“Because building energy efficiency is key to helping fight climate change and facilitating the necessary decarbonization of our country, the growth opportunities in energy efficiency are endless,” said Walker-Miller, who has 30 years of energy industry experience. “ComEd’s energy efficiency team is empowered and expected to identify, engage and develop diverse suppliers, and it has empowered us to do the same,” said Walker-Miller. “We are also helping ComEd reach economically distressed communities to reduce customers’ energy and water consumption.”

ComEd’s report profiles Milhouse, Inc., a Chicago-based African American-owned engineering and construction company led by CEO Wilbur Milhouse. It plays a key role in ComEd’s Voltage Optimization program, which enables ComEd to deliver power with enhanced precision, helping customers to reduce their energy consumption by up to 2 percent annually.

The report also highlights ComEd’s work in the growing data center sector where it’s creating opportunities for diversity-certified suppliers, such as Environmental Design International, a woman-owned company specializing in environmental consulting and civil engineering; McKissack & McKissack, the oldest minority-owned architecture and construction company in the United States; and Meade Electric, a leader in diversity advocacy with hundreds of active diversity-certified supplier relationships.

Illinois utility companies’ diverse supplier spend contributed $11.8 billion to the Illinois GDP from 2017-2020, with $4 billion in purchases from Illinois-based diverse businesses, according to the

Illinois Utilities Business Diversity Council (IUBDC), which was formed in 2015 to help utilities establish and share best practices for diverse supplier participation and development. Members include Ameren Illinois, Aqua, ComEd, Illinois American Water, Nicor Gas, North Shore Gas, and Peoples Gas.

ComEd’s 2021 Supplier Diversity report: https://www.comed.com/SiteCollectionDocuments/AboutUs/338828.pdf

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.


Contacts

ComEd Media Relations
312-394-3500

Evergy publishes three key stakeholder reports:


  • 2021 Sustainability Report
  • EEI ESG / Sustainability Template – Quantitative Information
  • 2021 Sustainability Accounting Standards Board (SASB) Report

KANSAS CITY, Mo.--(BUSINESS WIRE)--Evergy (NYSE: EVRG) published three reports, including its 2021 Sustainability Report, that provide details on the company’s achievements and progress toward environmental, social and governance (ESG) initiatives. Evergy’s continued transition to more sustainable energy sources, being a great place to work for its employees, and commitment to the communities it serves are central to its ESG strategy.

Since forming Evergy in 2018, we've enhanced our ESG practices and disclosures. Last year, we introduced our 2045 net-zero carbon target, with an interim goal of 70 percent reduction by 2030, building on our track record and trajectory of historical emissions reductions.” said David Campbell, Evergy’s president and chief executive officer. “Beyond environmental policy, we've also taken a comprehensive approach to reviewing and updating our social and governance policies and related disclosures including a corporate human rights policy, expanded shareholder rights and a formalized water policy.”

The updated reports provide stakeholders with valuable ESG information on how Evergy is providing safe, reliable, affordable and sustainable energy to customers while employing a diverse workforce, being a great place to work for employees and supporting the communities it serves. Highlights include:

  • Environmental: In 2021, Evergy has reduced its carbon dioxide emissions of 46 percent, and sulfur dioxide and nitrogen oxide by 98 percent and 88 percent, respectively, compared with 2005 baseline numbers. For the first time, the company’s 2021 scope 1, 2 and 3 emissions received independent third-party verification.
  • Social: Over the past two years, Evergy has focused on programs to assist customers by linking them to resources and through these efforts has helped Evergy customers secure $47 million in bill payment assistance from traditional utility assistance programs as well as COVID-19 relief resources. Evergy donated an additional $6.7 million to communities in the areas of environmental leadership and community vitality. Evergy also continued improvement in regional rate competitiveness, with retail rates down approximately 4.2 percent over the 2017-2021 period, outpacing regional peers and well below the rate of inflation.
  • Governance: Evergy introduced proxy access rights for shareholders in 2020, and also recently amended its bylaws to allow one or more shareholders owning at least 15 percent of common stock to call special shareholder meetings, provided requirements are met. Elements of executive compensation also have been tied to ESG performance.

Our Board of Directors has linked executive compensation to the successful execution of both environmental and diversity, equity, and inclusion aspects of our business,” said Heather Humphrey, senior vice president, general counsel, and corporate secretary. “We're proud of the advancements we've made to further demonstrate our commitment to leading ESG practices. We are focused on maintaining this momentum as we execute our plan and deliver sustainable results in the years ahead.”

Reports, including the reports newly published or updated last week, available on Evergy’s investor relations site make ESG related material easily accessible:

About Evergy

Evergy, Inc. (NYSE: EVRG), serves 1.6 million customers in Kansas and Missouri. Evergy’s mission is to empower a better future. Our focus remains on producing, transmitting and delivering reliable, affordable, and sustainable energy for the benefit of our stakeholders. Today, about half of Evergy’s power comes from carbon-free sources, creating more reliable energy with less impact to the environment. We value innovation and adaptability to give our customers better ways to manage their energy use, to create a safe, diverse and inclusive workplace for our employees, and to add value for our investors. Headquartered in Kansas City, our employees are active members of the communities we serve.

Cautionary Statements Regarding Certain Forward-Looking Information

Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and capital investment goals; the outcome of legislative efforts and regulatory and legal proceedings; future energy demand; future power prices; plans with respect to existing and potential future generation resources; the availability and cost of generation resources and energy storage; target emissions reductions; and other matters relating to expected financial performance or affecting future operations. Forward-looking statements are often accompanied by forward-looking words such as “anticipates,” “believes,” “expects,” “estimates,” “forecasts,” “should,” “could,” “may,” “seeks,” “intends,” “proposed,” “projects,” “planned,” “target,” “outlook,” “remain confident,” “goal,” “will” or other words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the forward-looking information.

In connection with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Evergy, Inc., Evergy Kansas Central, Inc. and Evergy Metro, Inc. (collectively, the Evergy Companies) are providing a number of risks, uncertainties and other factors that could cause actual results to differ from the forward-looking information. These risks, uncertainties and other factors include, but are not limited to: economic and weather conditions and any impact on sales, prices and costs; changes in business strategy or operations; the impact of federal, state and local political, legislative, judicial and regulatory actions or developments, including deregulation, re-regulation, securitization and restructuring of the electric utility industry; decisions of regulators regarding, among other things, customer rates and the prudency of operational decisions such as capital expenditures and asset retirements; changes in applicable laws, regulations, rules, principles or practices, or the interpretations thereof, governing tax, accounting and environmental matters, including air and water quality and waste management and disposal; the impact of climate change, including increased frequency and severity of significant weather events and the extent to which counterparties are willing to do business with, finance the operations of or purchase energy from the Evergy Companies due to the fact that the Evergy Companies operate coal-fired generation; prices and availability of electricity in wholesale markets; market perception of the energy industry and the Evergy Companies; the impact of the Coronavirus (COVID-19) pandemic on, among other things, sales, results of operations, financial condition, liquidity and cash flows, and also on operational issues, such as supply chain issues and the availability and ability of the Evergy Companies’ employees and suppliers to perform the functions that are necessary to operate the Evergy Companies; changes in the energy trading markets in which the Evergy Companies participate, including retroactive repricing of transactions by regional transmission organizations (RTO) and independent system operators; financial market conditions and performance, including changes in interest rates and credit spreads and in availability and cost of capital and the effects on derivatives and hedges, nuclear decommissioning trust and pension plan assets and costs; impairments of long-lived assets or goodwill; credit ratings; inflation rates; the transition to a replacement for the London Interbank Offered Rate (LIBOR) benchmark interest rate; effectiveness of risk management policies and procedures and the ability of counterparties to satisfy their contractual commitments; impact of physical and cybersecurity breaches, criminal activity, terrorist attacks, acts of war and other disruptions to the Evergy Companies’ facilities or information technology infrastructure or the facilities and infrastructure of third-party service providers on which the Evergy Companies rely; ability to carry out marketing and sales plans; cost, availability, quality and timely provision of equipment, supplies, labor and fuel; ability to achieve generation goals and the occurrence and duration of planned and unplanned generation outages; delays and cost increases of generation, transmission, distribution or other projects; the Evergy Companies’ ability to manage their transmission and distribution development plans and transmission joint ventures; the inherent risks associated with the ownership and operation of a nuclear facility, including environmental, health, safety, regulatory and financial risks; workforce risks, including those related to the Evergy Companies’ ability to attract and retain qualified personnel, maintain satisfactory relationships with their labor unions and manage costs of, or changes in, retirement, health care and other benefits; disruption, costs and uncertainties caused by or related to the actions of individuals or entities, such as activist shareholders or special interest groups, that seek to influence Evergy’s strategic plan, financial results or operations; the possibility that strategic initiatives, including mergers, acquisitions and divestitures, and long-term financial plans, may not create the value that they are expected to achieve in a timely manner or at all; difficulties in maintaining relationships with customers, employees, regulators or suppliers; and other risks and uncertainties.

This list of factors is not all-inclusive because it is not possible to predict all factors. You should also carefully consider the information contained in our other filings with the Securities and Exchange Commission (SEC). Additional risks and uncertainties are discussed in the Annual Report on Form 10-K for the year ended December 31, 2021 filed by the Evergy Companies with the SEC, and from time to time in current reports on Form 8-K and quarterly reports on Form 10-Q filed by the Evergy Companies with the SEC. Each forward-looking statement speaks only as of the date of the particular statement. The Evergy Companies undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law


Contacts

Media Contact:
Gina Penzig
Manager, External Communications
Phone: 785-508-2410
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Media line :888-613-0003 

Investor Contact:
Cody VandeVelde
Director, Investor Relations
Phone: 785-575-8227
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BOLOGNA, Italy--(BUSINESS WIRE)--#Autopromotec--EV fast-charging solutions provider Kempower will showcase its state-of-the-art fast-charging technology for the first time in Italy at Autopromotec in Bologna on May 25-28, 2022. Autopromotec is the most specialized international exhibition of automotive equipment and aftermarket products.



Kempower’s e-mobility and EV charging specialists will be present to showcase the company’s charging technology to event visitors. At Kempower stand, visitors can see and test the Kempower S- and C-Series fast-charging system and the Kempower T-Series movable DC fast charger. Meet the Kempower team in Hall 18, stand B 6.

“We are excited to be showcasing our leading EV fast-charging technology at one of Europe’s most prominent exhibitions of automotive equipment and aftermarket. We will have a great opportunity to interact with customers in Italy and across Europe and introduce our unique solutions to the region. Thanks to the country’s strong industrial automotive background, the Italian EV charging market has the potential to grow very rapidly in the future, and we aim to be part of this journey,” says Tomi Ristimäki, CEO of Kempower.

Dynamic and scalable fast-charging solutions with first-class user-experience

Kempower provides easily scalable, modular, dynamic, user-friendly, and reliable fast chargers for EVs for many different needs. Our chargers are modular, and therefore, charging hubs can easily be scaled up and additional charging power can easily be added as demand grows.

The Kempower product portfolio includes the following solutions: Kempower S-Series charging satellites that enable simultaneous and frequent fast charging for several EVs, Kempower C-Series charging power unit which is a modular and scalable power unit providing fast-charging capacity, Kempower T-Series movable DC chargers which are weatherproof and suitable for both outdoor and indoor use, and Kempower C-Station which is a combined charging power unit and charging satellite post as a single unit.

Kempower ChargEye™ is a comprehensive, easy-to-use, cloud-based charging management system for charge point operators and retailers, bus and truck operators, and off-highway vehicle fleets. When Kempower chargers are connected to the ChargEye system, charging network operators can easily monitor, manage, and diagnose the day-to-day operations of both the chargers and vehicles. ChargEye ensures that a commercial vehicle fleet is always ready for duty when needed while optimizing energy costs and managing battery health. The software can also be directly integrated into other IT systems to provide seamless operations and reporting.

About Kempower:

Kempower designs and manufactures DC fast charging solutions for electric vehicles and machines. We’re a team of electric vehicle enthusiasts with a deep understanding of the charging market and a hands-on mentality. Our product development and production are rooted in Finland, with a majority of our materials and components sourced locally. We focus on all areas of transportation, from personal cars and commercial vehicles to mining equipment, boats and motorsports. With Kemppi Group’s 70 years’ experience in perfecting DC power supplies, we set the bar high in engineering and user-experience design. Kempower is listed in the Nasdaq First North Growth Market Finland. www.kempower.com

Follow Kempower on LinkedIn!


Contacts

Further information:
Tomi Ristimäki, CEO, Kempower
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Tel. +358 29 0021900

Kempower Italy:
Marco Bettega, Senior Sales Manager, Kempower
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Tel. +358 29 0021900

Fabio Schiavino, Sales Manager, Kempower
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Tel. +39 333 387 1519

Kempower, media relations:
Paula Savonen, Director, Communications, Kempower
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Tel. +358 29 0021900

HOUSTON & DENVER--(BUSINESS WIRE)--Rockcliff Energy (Rockcliff), a Quantum Energy Partners-backed exploration and production company operating in the East Texas Haynesville Shale play, has made the commitment to undergo Project Canary’s TrustWell™ environmental certification on all of the natural gas produced from Rockcliff completed Haynesville Shale wells. Rockcliff’s Haynesville Shale wells represent more than 95 percent of its total production. Thus far, 143 wells have been assessed and certified by TrustWell™, and the current remaining Rockcliff Haynesville Shale wells will be assessed by the end of June 2022.



Rockcliff initiated the TrustWell™ assessment and certification process with SaaS-based ESG data analytics firm Project Canary in late 2021, measuring the company’s operations against the highest environmental and social standards related to air, land, water, and community practices. By the end of June 2022, nearly all Rockcliff’s natural gas production will be independently certified as responsibly sourced gas (RSG), a distinct classification of natural gas produced under the highest environmental and operational standards as assessed by Project Canary. The company has also deployed 171 Canary X advanced continuous emissions monitors at well sites to precisely detect, monitor, and mitigate methane emissions in real-time.

Strategically located along the Gulf Coast, Rockcliff will soon deliver approximately 1.3 billion cubic feet (bcf) per day of independently certified RSG to domestic and international gas buyers.

Localized, actual versus estimated emissions reporting, and pad-level certification standards are quickly becoming industry best practices. Domestic utility buyers and LNG operators are recognizing the value of RSG validated with high-fidelity data. RSG is a major market opportunity for upstream, midstream, and downstream companies as it has gained further prominence and higher desirability within the market. Given geopolitical circumstances, and as the EU looks for strategic LNG supply sources, advanced environmental assessments, and pad-level emissions monitoring to independently certify RSG at the highest standards is a significant differentiator. The market is demanding responsible, low emission production in addition to low emission gathering, processing, and transmission. The RSG market has arrived, and site-level monitoring will continue to build confidence in emissions disclosures.

“Our independent analysis confirms Rockcliff’s commitment to ESG leadership,” Project Canary co-founder and CEO Chris Romer said. “Buyers consistently seek independent, verified emissions data, and our well-by-well environmental assessments accurately monitor and quantify environmental and operations performance.”

“Our sector has embarked on the ESG 2.0 era,” Alan Smith, CEO of Rockcliff Energy, said. “As new regulations and reporting standards demand more credible disclosures, Rockcliff desires to focus on our strategic direction as well as near-term action. Our reliance on asset-level independent RSG Certification from TrustWell™ positions us at the forefront of what’s next.”

ABOUT ROCKCLIFF ENERGY

Rockcliff is a top-tier energy company helping to fuel the U.S. and global economy with clean-burning natural gas. A leading Haynesville Shale producer, Rockcliff owns more than 270,000 net acres in East Texas and produces approximately 1.4 bcf gross of natural gas per day. Given our strategic location to the Gulf Coast markets, large and highly economic Haynesville core acreage position, and industry-leading operating margins, Rockcliff is well-positioned as a leader in the natural gas industry. And importantly, we operate in an environmentally, regulatory, and socially responsible manner. Learn more at www.rockcliffenergy.com.

ABOUT PROJECT CANARY

Project Canary is a SaaS-based data analytics company focused on accurate corporate climate ESG data for emission-intensive industrial companies. We are the leaders in holistic environmental assessments (air, water, land, and community). Project Canary scores responsible operations, delivering independent emission profiles via high-fidelity continuous monitoring technology to provide actionable environmental performance data. Our sensor portfolio includes high-fidelity spectroscopy-based methane detection and emissions quantification for the oil and gas sectors, plus Aeris Technologies’ laser-based gas analyzers covering other emissions, including ethane, nitrous oxide, formaldehyde, ethylene oxide, benzene, and more. Formed as a Public Benefit Corporation, Project Canary’s Denver-based team of scientists, engineers, and seasoned industry operators identify and quantify areas to reduce emissions. www.projectcanary.com


Contacts

Rockcliff Energy
Ted Wurfel
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Project Canary
Rachael Shayne
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LONDON--(BUSINESS WIRE)--Rio Tinto and bp have agreed to work together on a one-year biofuel trial to help reduce carbon emissions from Rio Tinto’s marine fleet.



Under the trial, bp is supplying Rio Tinto with marine biofuel for approximately 12 months. The fuel will be trialled on Rio Tinto’s RTM Tasman vessel on a mix of Transatlantic and Atlantic-Pacific routes, in one of the longest-duration marine biofuel trials to date. The results of the trial will help Rio Tinto study ways to reduce its carbon emissions from its marine fleet and inform its future biofuel strategy.

Rio Tinto Head of Commercial Operations, Laure Baratgin said, “Sustainable biofuels have the potential to be an important transition fuel on the way to net-zero marine emissions and we are pleased to be working with bp to carry out this long-term trial.

“A longer-duration trial will provide important information on the potential role and wide scale use of biofuels, and aligns with our goals to reduce marine emissions across our value chain and support efforts to decarbonise the maritime industry.

“Our ambition is to reach net-zero emissions from shipping of our products to customers by 2050 and to introduce net-zero carbon vessels into our portfolio by 2030. We know that we won’t meet these ambitions alone and along the way will need to work with capable and experienced companies such as bp.”

Sven Boss-Walker, senior vice president refining & products trading, bp said, “Sustainable biofuels are important to help decarbonise the shipping industry in the near- and mid-term as we transition towards longer term net zero solutions. We’re proud to be working with Rio Tinto to support their work to decarbonise. These trials are part of our ongoing efforts to help accelerate the shipping industry’s energy transition.”

The extended trial agreement follows a successful journey on the RTM Tasman after it refuelled with biofuel in Rotterdam in March 2022 for the first time and then picked up its first load of the trial at the Iron Ore Company of Canada’s Sept-Îles port in Quebec in April. All biofuel refuelling during the trial will be at Rotterdam.

The trial is using a bp-manufactured B30 biofuel blend composed of 30% fatty acid methyl esters (FAME) blended with very low sulphur fuel oil (VLSFO). This B30 biofuel blend can reduce lifecycle carbon dioxide emissions by up to 26% compared to standard marine fuel oil.

FAME is a renewable alternative fuel (biodiesel) largely produced from recycled cooking oils and renewable oil sources. It has physical properties similar to conventional diesel, and is a ‘drop in fuel’, requiring no modifications to the engine or vessel. The origination and production of the feedstocks used to produce the FAME is certified for its sustainability to internationally recognized standards.

Working with bp and the ship managers Anglo Eastern, the trial will analyse a series of engine and fuel performance factors, including engine efficiency and fuel consumption, corrosion and degradation, microbial growth, temperature impact, fuel switching impacts and fuel stability.

Rio Tinto is also accelerating the delivery of its climate commitments on shipping. It has delivered a 30% intensity reduction on its owned and time-chartered fleet from a 2008 baseline, and is on track to meet the International Maritime Organisation’s 2030 targets of a 40% reduction in emissions five years early, by 2025.

bp is working with companies in key industrial sectors such as shipping, that have significant carbon emissions to manage, supporting their work to decarbonize.

About bp

bp’s purpose is to reimagine energy for people and our planet. It has set out an ambition ‎to be a net zero company by 2050, or sooner and help the world get to net zero, and a ‎strategy for delivering on that ambition. For more information visit bp.com.‎

About Rio Tinto

Rio Tinto is a leading mining and metals company, operating in 35 countries and producing high-quality iron ore, copper, aluminium, and other materials essential for the low-carbon transition. We are also one of the world’s largest dry bulk shippers. We are committed to reaching net-zero by 2050 and are targeting a 15% reduction in scope 1&2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. For more information visit riotinto.com.


Contacts

Rio Tinto Media Relations
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United Kingdom
David Outhwaite
M +44 7787 597 493

Canada
Simon Letendre

M  +1 514 796 4973

Australia
Matt Chambers
M +61 433 525 739

bp press office
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M +44 7831 095541
M +44 7919 217511

Category: General

HOUSTON--(BUSINESS WIRE)--#NewHopeEnergy--S&B Engineers and Constructors (S&B) signs a multi-year master service agreement to provide engineering, procurement and construction (EPC) services for New Hope Energy’s plastics pyrolysis unit. The initial project under this partnership is the expansion in Tyler, Texas. The expansion will add 420 metric tons per day of capacity to convert plastic waste to chemical feedstocks in the existing facility. This expansion will allow the Tyler plant to divert more than 300 million pounds of plastic waste from landfills annually. The project also represents a long-term alliance between S&B and New Hope Energy, an environmental technology company developing advanced chemical recycling systems.



“We selected the S&B team for this significant project because of their deep technical expertise, fully-integrated EPC capabilities and 50+ year history of successfully delivering industrial-scale facilities,” said Ron Nussle, COO and President of New Hope Energy. “We look forward to the long-term program and collaborative partnership with S&B and its highly developed supply chain as we grow our advanced chemical recycling systems to create a circular economy that moves the U.S. toward a sustainable future.”

S&B will provide full EPC services for the pyrolysis unit expansion to industrial-scale using the Lummus New Hope Plastic Pyrolysis Technology to process plastic waste into renewable chemical feedstocks.

“We’re excited to partner with New Hope to boost its advanced recycling capacity to create solutions for plastic waste,” said Ray Sherman, President of S&B’s Energy Transition, Power and Industrial business unit. “S&B remains at the forefront of energy transition projects because of our engineering expertise and the ability to safely execute on time and within budget.”

The project began in late 2021, with construction completion and commissioning expected in early 2024.

About S&B Engineers and Constructors

S&B Engineers and Constructors is part of the S&B Family of Companies - one of the leading engineering, procurement, construction and fabrication firms in the United States, with more than 50 years of experience. S&B designs, builds and delivers world-scale projects, serving the oil and gas, petrochemicals, renewables, power and public sectors, with quality, integrity and safety always on the forefront. Connect with us on LinkedIn.

About New Hope Energy

New Hope Energy is a pioneer in the field of chemical recycling. Their first pyrolysis plant has been successfully operating in Tyler, TX since 2018, with a current expansion underway. New Hope Energy is developing additional projects to support the circular economy through the conversion of waste plastic into renewable chemical feedstock. To learn more, visit https://newhopeenergy.com.


Contacts

Lindsay Burke, Director of Communications and Marketing
S&B Engineers and Constructors, Ltd.
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518.879.2101

Ariel Herr
New Hope Energy
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469.235.2708

Companies to implement first-of-its-kind digital twin for field development

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) today announced that it and Aker BP, a Norwegian oil and gas exploration and production company, will co-develop next generation field development planning software. The collaboration delivers a new cloud application – Field Development Planning (FDP) – from Halliburton. It also expands the scope of the current Digital Well Program®, a DecisionSpace® 365 cloud application, built on an open architecture to provide integrated well planning and design to increase collaboration and connectivity across drilling activities.



Built on the OSDUTM Data Platform, FDP converts the manual process of collating field development data to make the decision gate process more efficient and auditable and provides a common audit trail across the subsurface community. FDP helps organizations better understand uncertainty and risks associated with field development concepts.

“We are excited to extend our close collaboration with Aker BP and develop a cutting-edge intelligent system to evolve field development from the manual FDP process that exists in most enterprises,” said Halliburton Chairman, President and CEO Jeff Miller. “FDP creates a holistic view of field development and well construction, which will allow Aker BP to make more informed and expediated subsurface and reservoir/production decisions to optimize its investment and maximize the return on its assets.”

“Aker BP aims to be fully digital and nearly fully automated towards the end of this decade. We are creating an ecosystem where work processes are seamlessly integrated, and data is flowing without friction. Halliburton is a key partner in this strategy. FDP will give us the ability to increase efficiency, maximize value and make data-driven decisions for entire field concepts. Furthermore, we will then understand and mitigate risk and uncertainty on a whole new level,” said Karl Johnny Hersvik, CEO of Aker BP. “Keeping different development scenarios in place for future use gives us a cutting-edge capability to understand how engineering work matures during the development phases. It will make it possible to collaborate and drive transparency across the assets as never seen before in the industry.”

Halliburton and Aker BP build on a close and collaborative strategic relationship over many years.

“Together we are already revolutionizing well construction through transformative expertise, agile processes and game changing technology. We have successfully implemented Collaborative Well Planning for optimal well placements, reduced risk and increased resources. We are close to designing a well in a day with high quality in the open Digital Well Program built on Halliburton’s iEnergy solution. With Field Development Planning we are accelerating our digital transformation to the next level,” said Tommy Sigmundstad, senior vice president of Drilling and Wells for Aker BP.

About Halliburton

Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With approximately 40,000 employees, representing 130 nationalities in more than 70 countries, the company helps its customers maximize value throughout the lifecycle of the reservoir – from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset. Visit the company’s website at www.halliburton.com. Connect with Halliburton on Facebook, Twitter, LinkedIn, Instagram and YouTube.

About Aker BP

Aker BP is an independent E&P company with exploration, development and production activities on the Norwegian Continental Shelf. Aker BP is the operator of Alvheim, Ivar Aasen, Skarv, Valhall, Hod, Ula and Tambar. The company is also a partner in the Johan Sverdrup field. Aker BP is headquartered at Fornebu, Norway, and is listed on the Oslo Stock Exchange under the ticker ‘AKRBP’. More about Aker BP at www.akerbp.com.


Contacts

For Halliburton
Investors:
David Coleman
Investor Relations
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281-871-2688

News Media:
Emily Mir
External Affairs
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281-871-2601

For Aker BP
News Media:
Ole Johan Faret
Media spokesperson
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+47 402 24 217

TORONTO--(BUSINESS WIRE)--Kontrol Technologies Corp. (NEO:KNR) (OTCQB:KNRLF) (FSE:1K8) (“Kontrol” or the "Company") a leader in smart buildings and cities through IoT, Cloud and SaaS technology, has been selected to provide multi-year monitoring of emissions for the expansion of rail infrastructure in the Province of Ontario.


“This is new customer, and a new infrastructure opportunity which was delivered by our team under the Kontrol Carbon solution platform,” says Paul Ghezzi, CEO of Kontrol Technologies. “In addition to the initial installation of analytics equipment and sensors, we will be monitoring the emissions generated from the site for three years which further expands our recurring revenues.”

Emission Monitoring and Compliance

Industrial facilities and infrastructure projects, operating continuously, and with a high level of constant emissions are often required to install a permanent, fixed, continuous emissions monitoring system (CEMS). CEMS must be able to identify correct ranges, response times and accuracy of measurement as well as have a reliable uptime and operation life so that the plant can continue to run.

Kontrol will be installing a customized CEMS solution as well as providing real-time monitoring over 3 years for a new rail infrastructure project. The rail infrastructure project is part of the current expansion of high-speed commuter rail expansion in the Province of Ontario. For Industry competitive purposes the customer will not be named at this time.

About Kontrol Technologies Corp.

Kontrol Technologies Corp., a Canadian public company, is a leader in smart buildings and cities through IoT, Cloud and SaaS technology. Kontrol provides solutions and services to its customers to improve energy management, monitor continuous emissions and accelerate the sustainability of all buildings.

Additional information about Kontrol Technologies Corp. can be found on its website at www.kontrolcorp.com and by reviewing its profile on SEDAR at www.sedar.com

Neither IIROC nor any stock exchange or other securities regulatory authority accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions, and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy.

Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, that sufficient capital will be available to the Company and that technology will be as effective as anticipated.

However, forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by such forward-looking statements. Such risks include, but are not limited to, that sufficient capital and financing cannot be obtained on reasonable terms, or at all, that technologies will not prove as effective as expected, that customers and potential customers will not be as accepting of the Company's product and service offering as expected, and government and regulatory factors impacting the energy conservation industry.

Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of management on such date. Kontrol does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required under applicable securities law. Readers are cautioned to consider these and other factors, uncertainties, and potential events carefully and not to put undue reliance on forward-looking information.


Contacts

Kontrol Technologies Corp.
Paul Ghezzi
CEO
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180 Jardin Drive, Unit 9, Vaughan, ON L4K 1X8
Tel: (905) 766.0400

Investor Relations:
Brooks Hamilton
MZ Group - MZ North America
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Tel: +1 (949) 546.6326

HOUSTON--(BUSINESS WIRE)--Genesis Energy, L.P. (NYSE: GEL) announced today that it has redeemed 100% of the Alkali asset-level preferred units that were originally issued in 2019 to fund the expansion of our Granger soda ash facility. In conjunction with the redemption, certain subsidiaries of Genesis, which own, directly or indirectly, Genesis’ trona mineral mining and processing assets (excluding the SPV and the ORRI, each as defined below), are now once again restricted subsidiaries, which substantially increases the credit support for our secured lenders and unsecured bond holders.


On May 17, 2022, a wholly-owned subsidiary of Genesis Alkali Holdings Company, LLC (“Genesis Alkali”) sold a 10% limited term overriding royalty interest (“ORRI”) in substantially all of Genesis’ trona mineral leasehold interests to a special purpose vehicle (“SPV”) indirectly and wholly-owned by Genesis Energy, L.P. In conjunction with the sale of the ORRI, the SPV issued $425 million of 5.875% senior secured notes due 2042 (the “Notes”) to certain insurance accounts advised by Blackstone. The proceeds from the Notes were used by the SPV to purchase the ORRI and by Genesis to fully redeem and retire all of the outstanding asset-level preferred units and to re-pay certain amounts outstanding under its senior secured revolving credit facility.

The Notes issued by the SPV will be serviced solely by the cash flows from the ORRI and any excess available cash at the SPV, after debt service and certain cash reserves, will be distributed to our wholly owned Alkali subsidiary. The holders of the Notes will have no recourse to the underlying assets of Genesis Alkali or Genesis Energy, L.P. and are only secured by the equity and assets of the SPV, including the ORRI and cash flows therefrom.

Grant Sims, Chairman and CEO of Genesis Energy, said, “This transaction represented an attractive opportunity for Genesis to redeem our asset-level preferred units, immediately simplifying our corporate structure while enhancing the credit support for both our secured lenders and unsecured bond holders. We were able to remove any perceived re-financing risk associated with the asset-level preferred units which was otherwise due in 2026, while also preserving the upside on soda ash prices. The sale of the ORRI and associated financing allowed us to raise attractively priced 20 year money at 5.875% while remaining leverage neutral under our calculated bank leverage ratio. The remainder of the proceeds from this transaction will be used to finish our high return Granger expansion as well as for general corporate purposes, including paying down outstanding debt under our senior secured revolving credit facility. I would also like to thank Blackstone for their support and long-term belief in Genesis.”

RBC Capital Markets served as sole financial advisor and placement agent and Akin Gump Strauss Hauer & Feld LLP served as legal advisor to Genesis.

Blackstone Credit is one of the world's largest credit-focused asset managers, with $230 billion in AUM. Blackstone Credit seeks to generate attractive risk-adjusted returns for its clients by investing across the entire corporate credit market, from public debt to private loans. Its capital supports a wide range of companies across sectors and geographies, enabling businesses to expand, invest, and navigate changing market environments.

Certain presentation materials on the transaction are available and may be downloaded by visiting the Partnership’s website at www.genesisenergy.com under “Presentations” under the Investors tab.

This press release includes forward-looking statements as defined under federal law. Although we believe that our expectations are based upon reasonable assumptions, we can give no assurance that our goals will be achieved. Actual results may vary materially. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including but not limited to statements relating to future financial and operating results and the anticipated benefits of our Notes offering and related refinancing and other transactions and our ability to satisfy our obligations under the Notes, compliance with our senior secured credit facility covenants, the timing and anticipated benefits of the Kings Quay and Argos developments, our expectations regarding our Granger expansion, construction and anticipated benefits of the SYNC pipeline and expansion of the capacity of the CHOPS system, the expected performance of our other projects and business segments and the potential impacts of the Covid-19 pandemic and the war in Ukraine, and our strategy and plans, are forward-looking statements, and historical performance is not necessarily indicative of future performance. Those forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside our control, that could cause results to differ materially from those expected by management. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for products (which may be affected by the actions of OPEC and other oil exporting nations) and a reduction in demand for our services resulting in further impairments of our assets, the spread of disease (including Covid-19), the impact of international military conflicts (such as the conflict in Ukraine), the timing and success of business development efforts and other uncertainties. Those and other applicable uncertainties, factors and risks that may affect those forward-looking statements are described more fully in our Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission and other filings, including our Current Reports on Form 8-K and Quarterly Reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statement.


Contacts

Genesis Energy, L.P.
Dwayne Morley
VP – Investor Relations
(713) 860-2536

Accomplished manufacturing industry executive poised to lead NRE into the future

MT. VERNON, Ill.--(BUSINESS WIRE)--National Railway Equipment Company, an employee-owned global leader in the rail, marine, and power industries, today announced that it has appointed Merritt Becker chief executive officer. An accomplished executive and strategic business developer, Becker joins NRE from global engine and power generation company, Cummins Inc. He will join the company effective June 1, succeeding Steven Beal, who passed away in 2020. Since then, NRE has been led by its Board of Directors.

A veteran of the manufacturing sector, Becker spent the last 12 years at Cummins and its affiliates in a variety of executive-level roles, both in the U.S. and abroad. He most recently served as President and Managing Director of Cummins DKSH in Thailand. Before that he spent more than 12 years with diesel engine and truck manufacturer, Navistar Inc.

“This is an exciting day for NRE,” said John Miscione, Chairman of the NRE Board of Directors. “We have not been immune to the challenges facing our industry in recent years, which were exacerbated by the global pandemic and Steven’s passing. In the face of those obstacles, we have spent the last several years streamlining and stabilizing our operations to prepare the company for a successful future. Merritt’s appointment is a major piece of that strategy, and we are confident he is the leader who can take NRE forward in a rapidly changing industry.”

In taking the helm at NRE, Becker will be charged with serving OEM and aftermarket customers in the rail and inland waterway sectors, and creatively addressing the challenges the company’s customers face as the industry moves toward new technologies. NRE is well-positioned to assist them in the implementation of converging technologies in new and existing fleets to practically meet their objectives.

“I could not be prouder or more excited to join NRE and continue the wonderful legacy that the Beal family has nurtured for so many years,” Becker said. “The Board has worked diligently over the last few years to quietly develop and execute a strategy of streamlining and stabilization. This work has brought NRE to what I consider to be an ideal “fighting weight,” and ready to make some noise in the industry.”

Born, raised, and educated in the Midwest, Becker’s grandparents founded and owned small businesses with strong ties to their hometown – something that made a long-lasting impression on Becker from a young age. In fact, his understanding of the importance of companies like NRE to their local communities was also influential in the Board’s hiring decision.

“While Merritt certainly has the professional qualifications we sought in a new CEO, what also drew us to him was his emphasis on community and his embodiment of the culture and values that make NRE such a special place,” said NRE director, Susan Frangella. “So much of our culture is tied to the communities in which we operate, and from our very first meeting, Merritt eagerly embraced our family culture, our history, and above all else, our unwavering commitment to finding innovative ways to solve our customers’ business challenges.”

About National Railway Equipment

Headquartered in the U.S. heartland in Mt. Vernon, Illinois, employee owned NRE is a global leader in the rail, marine and power industries. With facilities around the world, NRE is proud to serve our customers with integrity and a commitment to industry leading customer service from each our global locations. NRE has delivered over 1200 new and remanufactured locomotives to North American and International railroads.


Contacts

Jason Milch
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312-379-9406

NEW YORK--(BUSINESS WIRE)--Admiral America Energy Inc. is pleased to announce the appointment of Frank Bernthaler to the role of Chief Operating Officer. Frank will be based in the UAE and lead all aspects of Admiral Energy’s operations, manufacturing and global expansion management, including leveraging his unique talent for the launch of new Admiral Energy offices around the world.



Frank will spearhead Admiral America’s plans to roll out electric mobility and EV charging solutions across Middle East, Africa, CIS and India, while also overseeing the new product and manufacturing verticals. He will also serve as strategic advisor on distribution and consulting, extending his decades of global automotive expertise to Admiral’s global leadership team.

Frank brings to the role more than 30 years of experience in sales and marketing, product development and launch, infrastructure and process development, as well as operations management. Frank’s career stretches across Mexico, Germany, USA, Austria and most recently the UAE to give him invaluable work experience and intercultural understanding.

The Board of Directors of Admiral America Energy Inc. said, “We are pleased to welcome Frank onboard to lead the inspired Admiral America Energy team. His wealth of experience will prove pivotal as we introduce new products globally.”

Admiral Energy provides EV transportation, charging and energy storage solutions for industries and consumers. The company is committed to fostering the growing environmental reforms around the world to propagate the benefits of clean-energy sources.

Commenting on his appointment to COO, Frank Bernthaler said: “I am thrilled and excited to join Admiral America Energy, a progressive, forward-looking company whose innovation is now focused on sustainability and the delivery of solutions relating to e-mobility, charging and energy storage solutions – all of which are the sunrise industries with a promising future.

“We are envisioning a new journey with battery electric vehicles (BEVs) and fuel cell electric vehicles (FCEVs) providing a range of clean energy solutions for commercial transportation. I look forward to playing a vital role in bringing this groundbreaking technology to market.”

Admiral America Energy Inc.

Admiral’s foray into Electrical Appliances commenced in 1934 receiving “Excellence” award from U.S. government for its production efforts during WWII. Today AAE focuses on providing multiple clean energy solutions in electric, hydrogen fuel cell & methanol for a comprehensive ecosystem in next generation commercial transportation.

*Source: AETOSWire


Contacts

Rina Latash
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HOUSTON--(BUSINESS WIRE)--#cleanupenergy--Milestone Environmental Services, LLC (“Milestone”), one of the largest independent providers of energy waste sequestration services in the U.S., today announced the acquisition of an energy waste landfill permit in the Haynesville Shale for disposing of non-hazardous waste streams generated from oil and gas operations.



The permitted location is in Panola County, about 11 miles southeast of Carthage, Texas, and 18 miles northeast of Milestone’s active slurry injection facility outside of Center, Texas. Development plans are underway for the future site, which will ultimately be expanded to include integrated slurry injection and landfill waste management operations. This comprehensive disposal solution would provide E&P operators in the resurging Haynesville Shale with an efficient and environmentally sustainable option for disposing of their non-hazardous waste streams.

“The secure domestic supply of natural gas is crucial to the global economy and U.S. national security, and the increased use of natural gas is one of the most impactful green initiatives on the planet. The Haynesville Shale continues to be one of the most prolific natural gas basins in the U.S., and Milestone is excited to expand our infrastructure in the basin to enable our customers to increase their gas production in an environmentally responsible manner,” said Milestone President and CEO Gabriel Rio. “Development of the Panola Facility will compliment Milestone’s fast-growing and strategic energy waste management portfolio and enhances our efforts to Clean Up EnergySM by preventing soil and groundwater contamination, while also reducing our customers’ greenhouse gas emissions.”

Milestone currently operates seven slurry injection facilities utilizing a proprietary process that is both an economically efficient and environmentally superior method for oilfield waste disposal. The reinjection of hydrocarbon-contaminated waste is a form of permanent carbon sequestration, and thus materially reduces the carbon footprint of oil and gas operations. In addition to reducing carbon footprint, Milestone’s disposal methods enable E&P operators to avoid soil and groundwater contamination risks associated with onsite disposal methods that dispose of waste above the water table. Furthermore, Milestone’s two solid energy waste landfill disposal facilities are engineered to prevent contamination of soil and groundwater by using the most advanced protective technologies. Redundant liners, leak detection systems, groundwater monitoring wells, and rigorous maintenance programs are employed to meet or exceed the latest permitting requirements.

About Milestone Environmental Services

Milestone is a Net Negative energy waste sequestration company with assets throughout the Permian Basin, Eagle Ford Shale, and Haynesville Shale. We are one of the largest independent energy waste sequestration companies in the United States, and a key business partner to energy companies looking to reduce their carbon footprint through cost-efficient waste management solutions. Our network of slurry injection sites and best-in-class E&P landfills provides a new avenue for management and sequestration of hydrocarbon-rich energy waste streams. We are committed to protecting the environment and our communities by offering a better way to manage waste and play a key role in a forward-looking carbon agenda. Milestone is a partner in the transition to a sustainable energy future. For more information, please visit www.Milestone-ES.com.


Contacts

Jessica Clements, This email address is being protected from spambots. You need JavaScript enabled to view it.

LONDON--(BUSINESS WIRE)--Giga Carbon Neutrality Inc. (“GCN”), the clean commercial transportation and technology company and The Port Authority of Antwerp-Bruges, Belgium, operator of Europe's largest export port, largest throughput port for vehicles, and the leading chemical hub in Europe held a signing ceremony for strategic mutual cooperation.



GCN will carry out vehicle and vessel automation pilot programs in Belgium as well as consolidating the port's leading position in the global supply chain. The Port Authority of Antwerp-Bruges will assist the development of GCN in Europe by providing the necessary support and relations to facilitate enhanced development opportunities for GCN’s global business.

The cooperation agreement was signed by Tom Hautekiet, COO of the Port of Antwerp-Bruges and Richard Martin, CEO of GCN.

Richard Martin, CEO of Giga Carbon Neutrality, commented:

With this agreement, GCN and the Port of Antwerp-Bruges are leading the way to deliver on the carbon reduction targets set out by the European Union. We look forward to working with the Port and assist its operations with our hydrogen and battery electric vehicle fleet.

Tom Hautekiet, COO of the Port of Antwerp-Bruges, commented:

As the biggest automotive hub in Europe, the Port of Antwerp-Bruges is excited to welcome GCN. The cooperation will lift the automotive role of the port of Antwerp-Bruges to a higher level and help realize our ‘clean port strategy’ ambition.

About Giga Carbon Neutrality (www.gigacarbonneutrality.com)

Giga Carbon Neutrality is a clean energy mobility and technology company that makes operating reliable, non-polluting vehicle fleets easy for industrial and commercial transportation companies. GCN'S portfolio includes battery-electric and hydrogen powered vehicles and marine vessels and clean energy storage, charging and refueling infrastructure support.

Giga Carbon Neutrality, Inc, is a limited liability company incorporated in British Columbia, Canada, having its registered address at 2270-8788 McKim Way, Richmond, BC. V6X 4E2, Canada.

About The Port Authority of Antwerp-Bruges, Belgium

The combined Port Authority, as a European green energy hub, will continue to expand project developments such as CO2 recovery, storage and reuse to enhance the reliability and sustainability of the global logistics supply chain. The chemical company cluster of the Antwerp platform and the coastal location of the Bruges platform will be used to promote the development of the hydrogen energy industry. The Port Authority of Antwerp-Bruges will play an important role in achieving Europe's carbon reduction targets.


Contacts

For more information:
Richard Martin
Giga Carbon Neutrality
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DUBLIN--(BUSINESS WIRE)--The "Europe EV Charging Stations Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph, Connector, Wireless), Component, Mounting Type, Vehicle Type, End User, and Geography-Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.


This research report provides an in-depth analysis of the European electric vehicle charging stations market and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029.

The European electric vehicle charging stations market is expected to reach $61.73 billion by 2029, at a CAGR of 34.7% during the forecast period, 2022-2029. By volume, this market is expected to reach 6,458.8 thousand units by 2029 at a CAGR of 37.8% during the forecast period.

The growth of this market is mainly driven by increasing government initiatives to drive the adoption of EVs and develop the associated infrastructure, the rising demand for EV fast-charging infrastructure, and the increasing prevalence of range anxiety among EV users. France, Germany, the Netherlands, Norway, and the U.K. are five front-runner countries in Europe in terms of EV adoption and the development of EV charging infrastructure.

The study offers a comprehensive analysis of the European electric vehicle charging stations market by charging type (Level 1, Level 2, DCFC), connection type (pantograph, connector, wireless), component (hardware, software, services), mounting type (wall, pedestal, ceiling), vehicle type (passenger cars, LCVs, two-wheelers & scooters, HCVs), end user (commercial EV charging stations, residential EV charging stations), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Geographically, Germany is estimated to account for the largest share of the European electric vehicle charging stations market in 2022. However, Sweden is expected to register the highest CAGR during the forecast period. Sweden is one of the leading European countries to ban diesel-powered vehicles and adopt electric mobility. The Swedish government has started investing in EV charging stations across the country.

The Swedish Transport Administration is investing to support the expansion of public EV fast-charging stations. For instance, in June 2020, the Swedish Transport Administration announced state support to expand public charging stations on major roads for the fast charging of electric vehicles.

Denmark is expected to record the second-highest CAGR during the forecast period. Increasing government initiatives to reduce carbon dioxide emissions and low taxation on the purchase of electric vehicles are key factors driving the EV charging stations market in the country. Denmark has installed charging spots in its 30 biggest cities.

The Danish government has pledged to roll out 775,000 electric/hybrid cars on its roads by 2030 to reduce greenhouse gas emissions by 70%. Also, Copenhagen is expected to become a carbon-neutral city by 2025. The growing use of electric vehicles has boosted the demand for EV charging stations across the country. Currently, Denmark also offers a tax exemption on the procurement and installation of commercial charging stations.

Key questions answered in the report:

  • Which are the high-growth market segments in terms of charging type, connection type, vehicle type, mounting type, component, end user, and geography?
  • What is the historical market size for the European electric vehicle charging stations market?
  • What are the market forecasts and estimates for the period 2022-2029?
  • What are the major drivers, restraints, opportunities, and challenges in the European electric vehicle charging stations market?
  • Who are the major players in this market, and what share of the market do they hold?
  • Who are the major market players in the European countries?
  • How is the competitive landscape of the European electric vehicle charging stations market?
  • What are the recent developments in the European electric vehicle charging stations market?
  • What are the various strategies adopted by the major players in this market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the European electric vehicle charging stations market, and how do they compete with the existing players?

Companies Mentioned

  • Webasto Group (Germany)
  • EVBox Group (Netherlands)
  • BP p.l.c. (U.K.)
  • Royal Dutch Shell PLC (Netherlands)
  • Connected Kerb Limited (U.K.)
  • Electricite de France (France)
  • Fastned B.V. (Netherlands)
  • Route220 S.r.l. (Italy)
  • Compleo Charging Solutions AG (Germany)
  • GreenWay Holding S.A (Slovakia).

For more information about this report visit https://www.researchandmarkets.com/r/l07y1o


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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For E.S.T Office Hours Call 1-917-300-0470
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TULSA, Okla.--(BUSINESS WIRE)--NGL Energy Partners LP (NYSE: NGL) announced today that NGL plans to issue its fiscal fourth quarter and year ended March 31, 2022 earnings press release post-market close on Monday, June 6, 2022. Members of NGL’s management team intend to host an earnings call following this release on Monday, June 6, 2022 at 4:00 pm CT to discuss its financial results and guidance for fiscal 2023. Analysts, investors, and other interested parties may join the webcast via the event link: https://www.webcaster4.com/Webcast/Page/2808/45661 or by dialing (888) 506-0062 and providing access code: 956840. An archived audio replay of the call will be available for 14 days, which can be accessed by dialing (877) 481-4010 and providing replay passcode 45661.


About NGL Energy Partners LP

NGL Energy Partners LP, a Delaware limited partnership is a diversified midstream energy company that transports, stores, markets and provides other logistics services for crude oil, natural gas liquids and other products and transports, treats and disposes of produced water generated as part of the oil and natural gas production process. For further information, visit the Partnership’s website at www.nglenergypartners.com.

This release is a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat 100% of NGL Energy Partner LP’s distributions to foreign investors as being attributable to income that is effectively connected with a United States trade or business. Therefore, distributions to foreign investors are subject to federal income tax withholding at the highest applicable effective tax rate.


Contacts

NGL Energy Partners LP
Linda J. Bridges, 918.481.1119
Chief Financial Officer and Treasurer
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or
David Sullivan, 918.481.1119
Vice President – Finance
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ROSH HAAYIN, Israel--(BUSINESS WIRE)--Brenmiller Energy Ltd. (“Brenmiller”, “Brenmiller Energy” or the “Company”) (TASE: BNRG, Nasdaq: BNRG), a clean-energy company that provides Thermal Energy Storage (“TES”) systems to the global industrial and utility markets, announced today that its ordinary shares have been approved for listing on the Nasdaq Capital Market (“Nasdaq”). Brenmiller’s shares will begin trading on Nasdaq on Wednesday, May 25, 2022, under the ticker symbol “BNRG.” The Company will maintain the listing of its ordinary shares on the Tel Aviv Stock Exchange under the symbol “BNRG.”


The listing of the Company’s shares on the Nasdaq constitutes compliance with the closing requirements of a securities purchase agreement with certain private investors as previously announced on November 2, 2021. On May 24, 2022, the Company closed the second tranche of the investment by such investors and, as a result, the balance of $7.5 million of the $15 million private placement has been paid to the Company by the investors against the issuance of the Company’s securities.

Brenmiller Energy’s listing on Nasdaq is a major milestone in the Company’s history and represents another step forward in our Company’s effort to deliver utilities and industrial companies the thermal energy storage solutions they need to realize their electrification and decarbonization goals,” said Avi Brenmiller, Chairman and Chief Executive Officer of Brenmiller Energy. “Our new listing on Nasdaq will help us better educate the global investment community about our innovative thermal storage decarbonization technology, while at the same time making it easier for us to access any capital we may need to help us continue to grow our company.”

Patented Technology Enables Carbon-Free Thermal Energy Storage

Brenmiller’s patented technology stores heat at high temperatures using crushed rocks and provides clean and sustainable thermal energy for utilities and industrial plants.

This innovative technology combines thermal storage, heat exchange, and steam generation together in a sustainable and modular solution. With this solution utilities and industrial companies can cost-effectively use renewable energy resources (including solar, wind, and biomass) and/or waste heat – rather than fossil fuels – to generate steam, hot water, and hot air for a wide array of industrial processes or power generation.

Brenmiller is currently working to deploy its TES solution with some of the largest industrial and utility customers globally, including Philip Morris International, Enel (Italy), Fortlev (Brazil), and the Israeli Defense Forces.

The Securities and Exchange Commission (“SEC”) declared effective a registration statement on Form F-1 (File No. 333-264398) relating to the ordinary shares issued in a private placement with certain investors. Additionally, as of the date Brenmiller Energy’s shares begin trading on Nasdaq (i.e., May 25, 2022), the Company will start reporting in accordance with the provisions of Chapter E3 of the Israeli Securities Law, 5728-1968, and the regulations enacted thereunder (the “Securities Law”), i.e., based on a reporting format of U.S. securities law, pursuant to the provisions of Sections 35(32) of the Securities Law.

Sullivan & Worcester LLP acted as Brenmiller Energy’s U.S. legal counsel and Shibolet & Co. acted as Brenmiller Energy’s Israeli legal counsel in connection with the Nasdaq listing.

About Brenmiller Energy

Brenmiller Energy’s innovative thermal energy storage solutions are accelerating the electrification and decarbonization of the global economy. Founded in 2012 by Avi Brenmiller, former CEO of Siemens CSP and Solel, and a team of other experts in the field of renewable energy, its patented technology heats crushed rocks to very high temperatures, enabling utility and industrial customers to cost-effectively store energy and then convert this energy into steam, hot water or hot air for a variety of applications. The Company has raised more than $90 million and is traded on the Tel-Aviv Stock Exchange and will begin trading on Nasdaq on May 25, 2022. For more information visit https://bren-energy.com/ and follow us on LinkedIn https://www.linkedin.com/company/brenmiller-energy/mycompany/

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Statements that are not statements of historical fact may be deemed to be forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses the impact of the Nasdaq listing on its profile, growth, visibility and liquidity and the date for its ordinary shares to begin trading on Nasdaq. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this press release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Registration Statement on Form F-1 filed with the SEC on April 21, 2022, and any subsequent amendments thereto. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.


Contacts

U.S. Investors:
Chase Jacobson, Vallum Advisors
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+1 980-265-2597

Media:
Isaac Steinmetz
Antenna for Brenmiller Energy
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Reaffirms 2022 Guidance

PASADENA, Calif.--(BUSINESS WIRE)--$HLGN #ArtificialIntelligence--Heliogen, Inc. (“Heliogen”) (NYSE: HLGN), a leading provider of AI-enabled concentrated solar energy technology, today provided its first quarter 2022 financial and operational results and reaffirmed its previously announced guidance for 2022.


First Quarter 2022 Highlights

  • Signed full project agreement with Woodside Energy (USA) Inc. (“Woodside”) for the commercial-scale demonstration and deployment of Heliogen’s AI-enabled concentrated solar energy technology
  • Entered into a collaboration agreement with Woodside to jointly market Heliogen’s technology in Australia
  • Began site preparation and setup for its first full-scale manufacturing facility in Long Beach, California

Recent Highlights

  • Finalized and executed a lease for Brenda Solar Energy Zone with U.S. Bureau of Land Management
  • Announced partnership with Hanwha Power Systems for the production of a 5 megawatt electric (MWe) next-generation supercritical CO2 power block integrated with high-temperature solid media thermal energy storage designed by Heliogen and to be deployed with the Woodside project
  • Reported significant progress in the operationalization of the Long Beach manufacturing facility

Executive Commentary

“Heliogen’s progress in deploying our groundbreaking solar energy technology with world class partners continued at a rapid pace during the first quarter of this year,” said Bill Gross, Founder and Chief Executive Officer of Heliogen. “The momentum we built during 2021 has put us in a great position to maintain our trajectory in 2022 and continue meeting milestones on our path to deployment of solar energy systems for heavy industry. We remain on track to achieve our financial and operational goals this year, which will serve as the foundation for our continued growth in 2023 and beyond.

“During the first quarter, we finalized and signed the full project agreement with Woodside for our first commercial-scale, single-module 5 MWe facility,” continued Gross. “We continue to make great progress with several other potential customers including global metals and mining company Rio Tinto. I’m also pleased with the discussions taking place with Woodside as we kick off our collaboration effort to jointly market Heliogen’s technology in Australia.

“On the manufacturing and development side, we have made rapid progress on the build-out of our facility in Long Beach, California. Multiple fully-automated pilot production lines are now operational along with the vast majority of our reliability and testing lab. We remain on track for the main production lines to be operational in the second half of this year. The impressive progress our production team has made on this facility is a testament to their ingenuity and efficiency, which we expect to apply across all manufacturing, installation and operational efforts,” concluded Gross.

2022 Guidance Reaffirmed

Heliogen today also reaffirmed its previously announced 2022 guidance of between two and three modules contracted and $20 - $25 million of revenue. Heliogen believes the number of modules contracted is the most useful indicator of demand for its products and technology at this stage in its lifecycle. Over time, Heliogen expects these contracts to be converted to revenue as the projects are installed, although there is no assurance as to the time period for such conversion.

First Quarter 2022 Financial Results

For the first quarter 2022, Heliogen reported total revenue of $3.5 million, total operating expenses of $30.0 million and net loss of $59.0 million. Heliogen’s net loss was driven primarily by a non-cash provision for contract losses of $33.8 million related to its first commercial-scale facility and non-cash share-based compensation expense of $13.0 million. Heliogen’s Adjusted EBITDA, which excludes these and other impacts, was negative $16.3 million for the first quarter 2022.

Conference Call Information

The Heliogen management team will host a conference call to discuss its first quarter 2022 financial results today, Monday, May 23, 2022, at 10:00 a.m. EDT. The call can be accessed via a live webcast accessible on the Events & Presentations page in the Investor Relations section of Heliogen’s website at www.heliogen.com. The call can also be accessed live via telephone by dialing 1-877-407-0789 (1-201-689-8562 for international callers) and referencing Heliogen.

An archive of the webcast will also be available shortly after the call on the Investor Relations section of Heliogen’s website.

About Heliogen

Heliogen is a renewable energy technology company focused on eliminating the need for fossil fuels in heavy industry and powering a sustainable future. Heliogen’s AI-enabled, modular concentrated solar technology aims to cost-effectively deliver near 24/7 carbon-free energy in the form of heat, power, or green hydrogen fuel at scale – for the first time in history. Heliogen was created at Idealab, the leading technology incubator founded by Bill Gross in 1996. For more information about Heliogen, please visit Heliogen.com.

Use of Non-GAAP Financial Information

Management uses certain financial measures, including EBITDA and Adjusted EBITDA, to evaluate our financial and operating performance that are calculated and presented on the basis of methodologies other than in accordance with GAAP. We believe these non-GAAP financial measures are useful to investors and analysts to assess our ongoing financial performance because they provide improved comparability between periods through the exclusion of certain items that we believe are not indicative of our core operating performance, enhance the overall understanding of our past financial performance and future prospects, and remove items that may obscure our underlying business results and trends. These measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP, and our calculations thereof may not be comparable to similarly titled measures reported by other companies. Please see the accompanying tables for reconciliations of the following non-GAAP financial measures for Heliogen’s current and historical results: EBITDA and Adjusted EBITDA.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our guidance for full-year 2022, the development of our manufacturing and production facilities, maintaining our trajectory in 2022, achieving our financial and operational goals, progress with potential customers and future growth opportunities. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our financial and business performance, including risk of uncertainty in our financial projections and business metrics and any underlying assumptions thereunder; (ii) our ability to execute our business model, including market acceptance of our planned products and services and achieving sufficient production volumes at acceptable quality levels and prices; (iii) our ability to access sources of capital to finance operations, growth and future capital requirements; (iv) our ability to maintain and enhance our products and brand, and to attract and retain customers; (v) our ability to scale in a cost effective manner; (vi) changes in applicable laws or regulations; (vii) the ongoing impacts of the COVID-19 pandemic and the potential impacts of Russia’s invasion of Ukraine on our business; (viii) developments and projections relating to our competitors and industry; (ix) our ability to access sources of capital to finance operations, growth and future capital requirements; and (x) our ability to protect our intellectual property. You should carefully consider the foregoing factors and the other risks and uncertainties disclosed in the “Risk Factors” section in Part I, Item 1A in our Annual Report on Form 10-K/A for the annual period ended December 31, 2021 and other documents filed by Heliogen from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Heliogen assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Heliogen, Inc.

($ in thousands, except share data)

Condensed Consolidated Balance Sheets

(unaudited)

 

March 31,

 

December 31,

 

2022

 

2021

ASSETS

 

 

 

Cash and cash equivalents

$

63,615

 

$

190,081

Investments, available-for-sale

 

128,269

 

 

32,332

Other current assets

 

20,973

 

 

4,770

Total current assets

 

212,857

 

 

227,183

Non-current assets

 

43,310

 

 

30,265

Total assets

$

256,167

 

$

257,448

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

Trade payables

$

2,294

 

$

4,645

Contract liabilities

 

7,866

 

 

513

Contract loss provisions

 

34,188

 

 

397

Other current liabilities

 

6,266

 

 

6,974

Total current liabilities

 

50,614

 

 

12,529

Long-term liabilities

 

28,250

 

 

30,861

Total liabilities

 

78,864

 

 

43,390

Shareholders’ equity

 

177,303

 

 

214,058

Total liabilities, convertible preferred stock, and shareholders’ equity

$

256,167

 

$

257,448

Heliogen, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Loss

($ in thousands, except per share and share data)

(unaudited)

 

Three Months Ended March 31,

 

2022

 

2021

Revenue

$

3,539

 

 

$

516

 

Cost of revenue

 

37,261

 

 

 

516

 

Gross loss

 

(33,722

)

 

 

 

 

 

 

 

Operating expenses:

 

 

 

Selling, general, and administrative

 

20,395

 

 

 

2,152

 

Research and development

 

9,605

 

 

 

1,608

 

Total operating expenses

 

30,000

 

 

 

3,760

 

Operating loss

 

(63,722

)

 

 

(3,760

)

 

 

 

 

Interest income, net

 

194

 

 

 

40

 

Gain (loss) on warrant remeasurement

 

4,026

 

 

 

(303

)

Other expense, net

 

(76

)

 

 

(33

)

Net loss before taxes

 

(59,578

)

 

 

(4,056

)

Income tax benefit

 

610

 

 

 

 

Net loss

 

(58,968

)

 

 

(4,056

)

Other comprehensive loss, net of taxes

 

 

 

Unrealized losses on available-for-sale securities

 

(379

)

 

 

(12

)

Cumulative translation adjustment

 

(1

)

 

 

 

Total comprehensive loss

$

(59,348

)

 

$

(4,068

)

 

 

 

 

Loss per share

 

 

 

Loss per share – Basic and Diluted

$

(0.32

)

 

$

(0.42

)

Weighted average number of shares outstanding – Diluted

 

184,031,015

 

 

 

9,763,675

 

Non-GAAP Financial Measures

EBITDA represents condensed consolidated net loss before (i) interest (income) expense, net, (ii) income tax expense (benefit) and (iii) depreciation and amortization expense.

Adjusted EBITDA represents EBITDA adjusted for certain significant non-cash items and items that management believes are not attributable to or indicative of our on-going operations or that may obscure our underlying results and trends.

The following reconciles net loss to EBITDA and Adjusted EBITDA for the periods as shown:

 

Three Months Ended March 31,

$ in thousands

2022

 

2021

Net loss

$

(58,968

)

 

$

(4,056

)

Adjustments

 

 

 

Interest income, net

 

(194

)

 

 

(40

)

Income tax benefit

 

(610

)

 

 

 

Depreciation and amortization

 

760

 

 

 

54

 

EBITDA

$

(59,012

)

 

$

(4,042

)

Adjustments

 

 

 

(Gain) loss on warrant remeasurement(1)

 

(4,026

)

 

 

303

 

Share-based compensation

 

12,982

 

 

 

211

 

Provision for contract losses, net(2)

 

33,766

 

 

 

 

Adjusted EBITDA

$

(16,290

)

 

$

(3,528

)

__________________

(1) Represents the change in fair value on our warrant liabilities for the outstanding warrants that we assumed in our business combination with Athena Technology Acquisition Corp.

(2) Represents contract losses related to three contracts with customers for which estimated costs to satisfy performance obligations exceeded considerations expected to be realized.

 


Contacts

Heliogen Investor Contact
Louis Baltimore
Investor Relations
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Heliogen Media Contact:
Cory Ziskind
ICR, Inc.
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DUBLIN--(BUSINESS WIRE)--The "Automotive TIC Market Research Report by Services (Certification Service, Inspection Service, and Testing Service), Source, Application, Region (Americas, Asia-Pacific, and Europe, Middle East & Africa) - Global Forecast to 2027 - Cumulative Impact of COVID-19" report has been added to ResearchAndMarkets.com's offering.


The Global Automotive TIC Market size was estimated at USD 16.76 billion in 2021, USD 17.82 billion in 2022, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.45% to reach USD 24.40 billion by 2027.

In this report, the years 2019 and 2020 are considered historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered the forecast period.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects.

It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Automotive TIC Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space.

It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

Competitive Scenario:

The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate.

Company Usability Profiles:

  • Applus Services, S.A.
  • ASTM International
  • British Standards Institution
  • Bureau Veritas S.A.
  • Dekra SE
  • DNV GL
  • Element Materials Technology
  • Eurofins Scientific SE
  • Intertek Group plc
  • Lloyd's Register Group Services Limited
  • NSF INTERNATIONAL
  • Rina S.P.A.
  • SGS S.A.
  • TUV Nord Group
  • TUV Rheinland AG Group
  • TUV SUD
  • UL LLC

Key Topics Covered:

1. Preface

1.1. Objectives of the Study

1.2. Market Segmentation & Coverage

1.3. Years Considered for the Study

1.4. Currency & Pricing

1.5. Language

1.6. Limitations

1.7. Assumptions

1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective

2.2. Determine: Research Design

2.3. Prepare: Research Instrument

2.4. Collect: Data Source

2.5. Analyze: Data Interpretation

2.6. Formulate: Data Verification

2.7. Publish: Research Report

2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics

5.1.1. Drivers

5.1.1.1. Growing demand and production of automobiles

5.1.1.2. Strict regulatory standards from the governments on automotive

5.1.1.3. Increasing vehicle recall due to component failure

5.1.1.4. Consumer awareness on product quality and safety

5.1.2. Restraints

5.1.2.1. Shortage of trained professionals and infrastructure

5.1.3. Opportunities

5.1.3.1. Increasing penetration of electric vehicles globally

5.1.3.2. Adoption of advanced technologies and connected devices in vehicles

5.1.4. Challenges

5.1.4.1. Fluctuating regulations across different countries

5.2. Cumulative Impact of COVID-19

5.3. Cumulative Impact of 2022 Russia Ukraine Conflict

6. Automotive TIC Market, by Services

6.1. Introduction

6.2. Certification Service

6.3. Inspection Service

6.4. Testing Service

7. Automotive TIC Market, by Source

7.1. Introduction

7.2. In-House

7.3. Outsource

8. Automotive TIC Market, by Application

8.1. Introduction

8.2. Electric Vehicles, Hybrid Electric Vehicles, and Battery System

8.3. Electrical System & Component

8.4. Fuel, Fluid, and Lubricant

8.5. Homologation Testing

8.6. Interior & Exterior Material and Component

8.7. Telematic

8.8. Vehicle Inspection Service

9. Americas Automotive TIC Market

9.1. Introduction

9.2. Argentina

9.3. Brazil

9.4. Canada

9.5. Mexico

9.6. United States

10. Asia-Pacific Automotive TIC Market

10.1. Introduction

10.2. Australia

10.3. China

10.4. India

10.5. Indonesia

10.6. Japan

10.7. Malaysia

10.8. Philippines

10.9. Singapore

10.10. South Korea

10.11. Taiwan

10.12. Thailand

11. Europe, Middle East & Africa Automotive TIC Market

11.1. Introduction

11.2. France

11.3. Germany

11.4. Italy

11.5. Netherlands

11.6. Qatar

11.7. Russia

11.8. Saudi Arabia

11.9. South Africa

11.10. Spain

11.11. United Arab Emirates

11.12. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix

12.1.1. Quadrants

12.1.2. Business Strategy

12.1.3. Product Satisfaction

12.2. Market Ranking Analysis

12.3. Market Share Analysis, By Key Player

12.4. Competitive Scenario

12.4.1. Merger & Acquisition

12.4.2. Agreement, Collaboration, & Partnership

12.4.3. New Product Launch & Enhancement

12.4.4. Investment & Funding

12.4.5. Award, Recognition, & Expansion

13. Company Usability Profiles

For more information about this report visit https://www.researchandmarkets.com/r/aezo2s


Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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Advanced Performance Materials leads the industry by developing the first non-fluorinated surfactant to produce APA grade fluoroelastomers

WILMINGTON, Del.--(BUSINESS WIRE)--$CC--The Chemours Company (“Chemours”) (NYSE: CC), a global chemistry company with leading market positions in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials, today announced an industry-leading sustainable process innovation to produce Advanced Polymer Architecture (APA) grade Viton™ fluoroelastomers, without the use of a fluorinated polymerization aid.​ With the introduction of this new technology and prior innovations, Chemours now has the capability to manufacture the entire Viton™ fluoroelastomers portfolio using a non-fluorinated surfactant, and continues its leadership in fluoroelastomer process and product development.


Viton™ APA grade fluoroelastomers enable products and applications critical for several markets​, including transportation, advanced electronics, industrial manufacturing, and oil and gas.​ Designers and engineers recognize the high performance of Viton™ APA grade fluoroelastomers for their ability to be durable while retaining their flexibility, strength, and shape in the most extreme environments.

Chemours invests in research and development that drives sustainability across our portfolio and supports reaching our ambitious 2030 Corporate Responsibility Commitment goals,” said Denise Dignam, President of Advanced Performance Materials at Chemours. “This new process to produce APA grade Viton™ fluoroelastomers without the use of a fluorinated polymerization aid builds upon our legacy of product innovation and industry leadership. Thanks to the power of our chemistry, we continue to find opportunities to enable solutions that are better, safer, more reliable, and more sustainable while meeting customer and market needs​.”

As part of Chemours capability and commitment as a responsible supplier, we remain focused on the reliability of supply for our customers in the face of an evolving regulatory landscape. The new Viton™ APA grade fluoroelastomers have equivalent performance to our other fluoroelastomer products. The team successfully completed research into a non-fluorinated surfactant for this application. We are now entering the final phase with customer testing and validation to make it widely available. This advancement showcases our continued commitment to product and process innovation and to delivering sustainable solutions.

To learn more contact us by visiting, www.viton.com/en/contact-us.

About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. We deliver customized solutions with a wide range of industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and consumer electronics, general industrial, and oil and gas. Our flagship products include prominent brands such as Ti-Pure™, Opteon™, Freon™, Teflon™, Viton™, Nafion™, and Krytox™. The company has approximately 6,400 employees and 29 manufacturing sites serving approximately 3,200 customers in approximately 120 countries. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.

For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance for our segments individually and our company as a whole, business plans, prospects, targets, goals and commitments, capital investments and projects and target capital expenditures, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost reductions or savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. In addition, the current COVID-19 pandemic has significantly impacted the national and global economy and commodity and financial markets, which has had and we expect will continue to have a negative impact on our financial results. The full extent and impact of the pandemic is still being determined and to date has included significant volatility in financial and commodity markets and a severe disruption in economic activity. The public and private sector response has led to travel restrictions, temporary business closures, quarantines, stock market volatility, and interruptions in consumer and commercial activity globally. Matters outside our control have affected our business and operations and may or may continue to hinder our ability to provide goods and services to customers, cause disruptions in our supply chains, adversely affect our business partners, significantly reduce the demand for our products, adversely affect the health and welfare of our personnel or cause other unpredictable events. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 and in our Annual Report on Form 10-K for the year ended December 31, 2021. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.


Contacts

INVESTORS
Jonathan Lock
SVP, Chief Development Officer
+1.302.773.2263
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Kurt Bonner
Manager , Investor Relations
+1.302.773.0026
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NEWS MEDIA
Cassie Olszewski
Media Relations and Financial Communications Manager
+1.302.219.7140
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